ALL IT TOOK WAS THREE QUARTERS OF A PERCENT.

The stock and bond markets had a surreal week. Up on Wednesday following Powell’s remarks then crashing through to Friday as economic reality was restored. It is illustrative of the tug of war between the FED and the economy that frustrates it.

The Congressional Budget Office released government financial data for April a few days ago. Included is an item called “withholding tax” which is the tax employers pay to the IRS each month on behalf of their employed workers. April shows a significant fall from a cumulative 9% YoY increase (October to March) down to 8% (October to April) which is not consistent with rising employment as this would imply rising, not falling, withholding taxes. Now that patterns after COVID are normalizing I will be using this metric more often.

7 Responses to ALL IT TOOK WAS THREE QUARTERS OF A PERCENT.

  1. Hola, saludos,…Luciano Medianero Morales/lukymá. ¡¡.
    Hace un momento ·
    Compartido con: Público
    Hola, saludos,… ¡¡ ***
    luciano medianero morales
    @lucianomediane2
    Respondiendo a
    @therevcoms
    Saludos-hola ¡¡ :
    comandoproletsuniversal.wordpress.com
    ¡¡ Crítica lukysta al capi-imperialismo – El impericapitalismo interplanetario,…¡¡. Y por bob…
    por Luciano mm.-lukymá. ¡¡. ¡¡ analisis y critica a la economia politica del impericapitalismo – Buscar (bing.com) ¡¡ : EL IMPERICAPITALISMO-CAPIIMPERIALISTA … 23/2/2022 · ¡¡¡…
    18:38 · 7 de mayo de 2022· Aplicación web de Twitter
    The Revcoms
    3 h ·
    The United States of Atrocity: When It Comes to War Crimes, USA Is “Number One”
    Part 3: 1991–2022
    U.S. President Biden has repeatedly labeled Russian President Putin a “war criminal.” Biden and other U.S. officials mouth deep outrage at the suffering of the Ukrainian people. They talk somberly about what is the best international venue to hold Nuremburg-style war crimes trials for Russian leaders. Ukrainian President Zelensky even told the UN Security Council that Russia’s actions in Ukraine constitute “the most heinous war crimes of all time since the end of World War II.”
    Russia’s invasion of Ukraine is in fact a criminal violation of the sovereignty of another country, and it is fairly clear that its conduct of the war has involved serious war crimes, such as bombardment of civilian population centers like Kyiv, Mariupol, and Kharkiv. And there are reported cases of use of “cluster munitions”—bombs or shells that break up into smaller explosives that disperse over a wide area.
    There are also allegations of rape, torture and murder, which at this point are largely undocumented and need to be investigated.
    But as grievous as these crimes are, and even assuming that all the so-far-unproven allegations turn out to be true, they pale in comparison to the crimes of the U.S. imperialist war machine (including the CIA) that Biden represents and leads, and which Zelensky is closely allied with.
    This is a partial listing and brief description of some of the most egregious war crimes of the U.S. and its close allies in the period that Zelensky focuses on—“since the end of World War II.” These were crimes committed internationally, outside the U.S. borders (i.e., we have not included here crimes against humanity committed against Black people, Native people, and others within the U.S.).
    The very real war crimes being carried out by Russia in Ukraine “pale in comparison” to the long history of U.S. war crimes. It’s not just the “totality” of U.S. war crimes that is overwhelming—if you look at almost any specific instance—at the coups and civil wars in Guatemala; at the genocidal war in Vietnam; at the murderous sanctions against Iraq; at the war in Yemen—Russia’s crimes in Ukraine “pale in comparison” to any single one of them, much less all of them.
    Our point here however is not fundamentally to compare imperialists and try and figure out “who’s worse” (much less “who’s better”!). They are both “worse”—both are imperialist powers that are driven by the dynamics of capitalism to expand or die, driven by the need to expand to seek empire, and driven by the need to seek empire to commit horror after horror after horror against the people and the planet.
    The point is that it is time, past time, long past time for humanity to put all of this behind us, for more and more people to take up the science of revolution, become part of the struggle for revolution, and follow the leadership of the revolution so that we can start spreading emancipation and liberation around the world, instead of atrocity.
    Part 1 covered the period 1948-1979; Part 2 covered the period 1980-1992. Part 3 covers the period up to the present—read the whole article for sources and footnotes:https://revcom.us/…/united-states-atrocity-when-it…
    ***
    Follow: @TheRevcoms
    Read: http://www.revcom.us
    Watch: YouTube.com/TheRevcoms

    • I would like to address two military issues your comment raises. The first is the US tactic of bait and catch, and the second is the old NATO doctrine of total war developed during the cold war when it was felt that NATO would not halt the red army at first and would have to fight them in the cities.

      The previous bait and trap tactic of note was used against the Iraqis in the first Gulf War. Saddam Hussein had been imposed on the Iraqi people by the CIA headed by George Bush snr in what the CIA called the “perfect coup”. When the Ayatollahs overthrew the Yankee puppet, the Shah of Iran, Hussein was instructed to invade Iran to contain the spread of the ‘revolution’. You also need to know that straddling the border between Kuwait and Iraq is a large oilfield. While Iraq was otherwise engaged in a life and death struggle with Iran, the Kuwaitis started slant drilling and began sucking oil out from the Iraqi side. Both the Iraqis and the US were aware of what was going on as the drilling kit came from the west in any case. After the war which ended in a draw favouring Iraq, Saddam demanded reparations from the Kuwaitis. The US pretended to be sympathetic to the Iraqi demands, but they were also worried about the military strength of Iraq and that it could challenge both US and Israeli interests in the region. When it became clear that Kuwait would not pay up, Hussein met with the US ambassador stating his intention of a limited military incursion to force Kuwait to pay up. The US ambassador did not dissuade Hussein from this course of action. That was the bait. As soon as Iraq invaded the US revealed its true intentions, to cut Iraq down do size. That was the trap.

      Turning to Ukraine, there is a very good report by an ex-Swiss Intelligence officer who had been seconded to NATO. Here is the link. https://www.thepostil.com/the-military-situation-in-the-ukraine/ He explains the bait and trap tactic used to draw Russia into a war in the Ukraine. Pay specific attention to Zelensky’s earlier declaration of intent to attack the Crimea to reclaim it (which the western press never spoke of). This was the goat in the trap. The rest is history.

      Now onto the doctrine of total war which Zelensky endorsed repeatedly after the invasion. This is based on siting heavy armaments within cities, which effectively uses civilians as shields and is contrary to the rules of war. There is ample evidence of Ukrainian forces, especially the fascist Azov battalions taking up positions in residential structures while trapping civilians in these structures. And yet despite this, civilian casualties have been lighter than in most urban wars. Don’t take my word for it read this report by the American Scott Ritter who used to be an arms inspector. He shows that at the time of writing, civilian casualties compared to soldiers killed was 1 to 1, whereas in Iraq for example seven times more civilians were killed compared to Iraqi soldiers. https://www.opednews.com/articles/2/Ukraine-Scott-Ritter-Expo-by-Mike-Rivage-Seul-Lies_Mainstream-Media_Media-Blackout_Media-Disinformation-220429-986.html It appears that the atrocities you speak of may in fact be caused by the other side. I suspect many more Russian soldiers died protecting civilians than did Ukrainian soldiers.

      If all this is true, and I am sure it will all come out eventually just as it did in Iraq, it will show who the real barbarians are, the western warmongers and their lying media.

  2. Anti-Capital says:

    There’s plenty of barbarians to go around and Russia is no exception and has no shortage. Warmongers? Barbarians? They’re all capitalist to me. This, NATO-Ukraine-Russia war, is an inter-capitalist conflict, triggered by overproduction and declining profits. Is one capitalist more “justified” than the other? Is one more aggressive? More “barbaric?” These are classifications within the capitalist framework. The proletarian program is not about supporting less aggressive capitalists in conflict with more aggressive capitalists. All, Russia, Ukraine, NATO are acting under the direction of capital interests.

    • Sartesian. Its about reality not aggressive or less aggressive capitalists. The US media has shaped the thinking of the US population to the point where 74% support a no fly zone over the Ukraine which of course would lead to WW3. Why because they think the US is in the right and Russia is in the wrong. They believe all the staged massacres. If you do not get it, that the US always prepares its population for war then you should step aside from politics. Exposing the lies of your bourgeoisie as Lenin said is the essence of propaganda. To be a true revolutionary, you must be free of the ideology of the ruling class, you need to know what the ruling class is thinking and therefore how they are acting, and when you fulfill that criteria, then by all means put forward a programme to oppose them.

      • Anti-Capital says:

        That does not answer the question, which is it essential to the program for proletarian revolution to support one or the other capitalist contenders involved in an armed conflict. The US-EU-NATO axis is capitalist. Russia is capitalist. Ukraine is capitalist. We, so-called advocates of proletarian revolution do not endorse, support, or defend the goals of any of the capitalists in this conflict, but identify capitalism and its “members” as the source of the conflict.

        I know all about the lies and deceit of the bourgeoisie in war and non-war times, having survived Vietnam, etc.

        If all you can do is endorse a capitalist state, then it’s you who is already outside politics and has already become part of the machinery of distortion and oppression.

  3. Anti-Capital says:

    Correction ” (the question) which is, “is it essential or even advantageous to the program for proletarian revolution to support one or the other capitalist…..”

  4. Pingback: REVOLUCIÓN DE LA HUMANIDAD – UNIVERSO PROLETARIO, REBALAE ALBORÁN

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