China Is Better Than The USA: Notes From The Edge Of The Narrative Matrix

China Is Better Than The USA: Notes From The Edge Of The Narrative Matrix

I always mentally translate “the CCP” to “you can stop reading here, I’m just blindly regurgitating empire propaganda.”*

The party of the Chinese government is called the Communist Party of China, the correct abbreviation for which is CPC. But there’s no need to use that when “the Chinese government”, “Beijing”, or “China” would do just as well. The only reason to say “CCP” or “Chinese Communist Party” instead of the normal words people use for other governments would be if you wanted to de-legitimize the government of China.

On this day, 24 July 2009, 3,000 steel workers in Tonghua, China rioted and beat an executive to death when threatened with privatization and job losses.

Jianlong Steel Holding Company official Chen Guojun, who earned over 3 million yuan the previous year, planned to take over the majority state-owned Tonghua Iron and Steel Group. He announced plans to cut the number of workers from 30,000 down to around 5,000, with those made redundant receiving around 200 yuan in compensation. The firm was still profitable, but the planned restructuring was aimed at increasing profits further amidst a global economic downturn.

Outraged, the workers shut down production and rioted, beating Chen, blocking roads and smashing police cars to prevent police and ambulances from reaching him.

The sale was subsequently scrapped.

On this day, 24 July 2009, 3,000 steel workers in Tonghua, China rioted and beat an executive to death when threatened with privatisation and job losses.

More:

China, rising wages and worker militancy

The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation

By Pam Martens and Russ Martens, July 15, 2022

Yesterday afternoon, Mark Bialek, the Inspector General of the Federal Reserve, released a memorandum clearing Fed Chair Jerome Powell and former Fed Vice Chair Richard Clarida of wrongdoing in the trading scandal that has engulfed multiple officials of the Federal Reserve.

The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation

Related:

Senators on Senate Banking Committee Accuse Fed Chair Powell of Hampering Trading Scandal Investigation

Larry Summers warns unemployment must rise to cool inflation

Ex-Treasury Secretary Larry Summers warned that millions of currently employed Americans must lose their jobs in order for the Federal Reserve to succeed in its bid to cool inflation.

Larry Summers warns unemployment must rise to cool inflation

Related:

Larry Summers Says US Needs 5% Jobless Rate for Five Years to Ease Inflation

Maybe he can ship some more jobs overseas [/sarcasm]?! I’d suggest shipping him, overseas, but I wouldn’t even wish that on my enemy!

Redditors Are Furious at the SEC’s New Ad Campaign Portraying them as Idiot Investors

By Pam Martens and Russ Martens: June 2, 2022 ~

Redditors at the subreddit Superstonk are posting obscenities directed at Gary Gensler, Chair of the Securities and Exchange Commission (SEC), over the new ad campaign from the SEC that appears to target young Reddit investors as fools that do no research before investing, lose all their money, and deserve a whipped-cream pie in the face. (Yes, a young investor actually gets a whipped-cream pie in the face during two of the ads. See videos below.) CNBC ran one of the new SEC ads yesterday.

Redditors Are Furious at the SEC’s New Ad Campaign Portraying them as Idiot Investors