How soon? As soon as Elon Musk joins my group and provides details. More seriously, let’s discuss the misguided legislation.
Steven Mnuchin’s Consortium
Former Treasury Secretary Steven Mnuchin said he is putting together a consortium to buy TikTok after the House passed a bill that would ban TikTok in the U.S., or force its sale to a non-Chinese owner.
In other news, China is putting together a consortium to buy Boeing and pledges to solve all of Boeing’s many problems.
I just made up that last sentence, but is there any doubt China would do so if the US would allow the sale?
In this case, here’s the important question: Would China allow the sale of TikTok to the US when the US won’t allows the sale of nearly anything to foreigners?
So, what’s the point of consortiums, if there is no chance the aim can ever happen. Nonetheless, if Musk calls, I will answer the phone. It would likely be a fun call.
Let’s step back from all these what if’s, to discuss where we are.
House Passes Bill to Ban TikTok or Force Sale of the Chinese Video App
The Wall Street Journal reports House Passes Bill to Ban TikTok or Force Sale of the Chinese Video App
The House voted overwhelmingly to approve a bill on Wednesday that would ban TikTok from operating in the U.S. or force a sale, setting the stage for a final showdown in the Senate, where lawmakers signaled a more cautious approach on the legislation.
The measure passed 352 to 65, with one member voting present, showing broad bipartisan support for cracking down on the app. The vote moved Congress closer to an unprecedented ban of one of the most popular apps in the U.S., with lawmakers balancing national-security worries with concerns about freedom of speech, the impact on TikTok users and creators, and misgivings about interfering with a company’s business operations.
“TikTok cannot continue to operate in the United States under its current ownership structure,” said Rep. Mike Gallagher (R., Wis.) who wrote the bill with the White House and Rep. Raja Krishnamoorthi (D., Ill.).
Opponents of the bill—who ranged from the left’s Rep. Alexandria Ocasio-Cortez (D., N.Y.) to the right’s Marjorie Taylor Greene (R., Ga.)—aired concerns that the legislation was rushed and voiced reservations about bills limiting what information Americans could see. TikTok said it views the legislation as an effective ban because separating the U.S. portion of its app through a sale or divestment wouldn’t be practical. Some lawmakers were sympathetic to that view.
“Creatives, artists, content creators and businesses in my district will get caught in the crossfire of this bill and deserve better than federal overreach as a substitute for a thoughtful solution to a complicated national-security challenge,” said Rep. Sydney Kamlager-Dove (D., Calif.).
Et Tu, Scott Adams?
Wow. I wouldn’t have guessed that.
Poorly Thought Out
The TikTok ban is about as well thought out as would be a Chinese proposal to buy Boeing, Nvidia, or Apple.
Sen. Rand Paul (R., Ky.), who opposes the legislation, said the House bill “dictated an unrealistic and narrow path for divestment, effectively banning TikTok and ignoring its substantial investments in data security.”
I side with the extremely odd group of AOC, Marjorie Taylor Greene, Rand Paul, and Elon Musk.
What’s This Really About?
The US claims it’s a security measure aimed at China specifically. Why then all the other garbage in the bill?
What’s Else Is in the Bill?
If you don’t think Biden or Trump would use such powers to do whatever they want by executive order, then you are not thinking.
Good Synopsis
Where’s the Bill Going?
The House passed the bill overwhelmingly, but the path is more than a bit uncertain.
Senate Majority leader Chuck Schumer has not said if he will bring this up for a vote. He can kill it easily by referring the bill to a committee to study it to death.
Q: Why would Schumer send the bill to committee?
A: To kill the bill without taking responsibility for killing the bill.
Q: Why would he want to kill the bill?
A: It’s the votes, stupid.
If the bill makes it through Congress, Biden says he would sign it.
There are 170+- million mostly zoomers and millennials who use the app. Some of them make their livelihood on TikTok. All of them would be upset. And tens of thousands of them would take it out on Biden in November.
Schumer, is not interested in doing what’s right, but he is very interested in not doing things that could cost the election. A TiKTok ban could easily cost Biden the election.
Imagine Four More Years
I dislike Trump, but I detest Biden. Elon Musk sums up the situation nicely.
We cannot take four more years of insane energy policy, woke madness, regulatory madness, and massively inflationary Bidenomics.
Biden Wants to Hike Taxes by $7 Trillion Dollars
Please note that Biden Wants to Hike Taxes by $7 Trillion Dollars
If Democrats win the trifecta with a clean sweep of the Senate, House, and White House in November, taxes would rise by $7 trillion over 10 years.
Gen Z, the Most Pessimistic Generation in History
In case use missed it, please see Gen Z, the Most Pessimistic Generation in History, May Decide the Election
Young adults are more skeptical of government and pessimistic about the future than any living generation before them. This is with reason, and it’s likely to decide the election.
Meanwhile, I anxiously await that call from Elon Musk. I am sure he wants to join my consortium to buy TikTok.
“What’s This Really About?”
Same as battery cars.
Insta and the rest, like all of “American” and Western hasbeens; don’t stand a chance competing. Free people will choose the Chinese good. Every.Single.Time. And increasingly so.
Simply becasue China is a much, much freer country. Hence competition is much harder there. If you can make it there, the totalitarian West offers up no more competition than similarly totalitarian Venezuela.
Just as East Bloc’ers once were mesmerized with Western tech and culture back when The West was still somewhat free, West Bloc’ers are now increasingly realizing how far ahead Asian technology, industry and culture now are. No matter how loudly their their own totalitarian governments’ propaganda machines keep insisting “their” Ladas are The Bestest and Xi is mean.
Mnuchin has never done anything of value. Never created anything. Never contributed anything. Never been of any use whatsoever. Nor ever will be. He’s what’s technically referred to as an idiot. As is everyone else who owns, and runs, anything in The West today. This is exactly how they obtained all their wealth and privilege: Government stealing it from the infinitely betters who actually created it.
Much freer? I agree the West has plenty of problems such as our politicians being passing legislation for their wealthy campaign donors that inhibits free markets, debases the dollar, racks up enormous debt that we will one day pay for more than we already are with inflation. But can you openly criticize and condemn the CCP for what they do wrong on a forum such as this? No, you can’t or they’ll arrest you and send you to a reeducation camp, or worse, so that’s a pretty important freedom that we in the west still have though it seems we’re trying hard to lose it.
I dislike Trump, but I detest Biden. How many people feel the same way? maybe it’s time for something else.
Unfortunately, when it comes to presidential elections, it’s a choice between Coke or Pepsi, no other options.
How about a Dr. Pepper? Screw you!
Could I have an iced tea please? No, go to hell!!
COKE OR PEPSI.
It was a proposed tax on WhatsApp that catalysed country wide protests in Lebanon and the ensuing financial crisis and banking collapse.
from our graph of 12th graders you can see solid pessimissm since about 2006 when smartphones became pervasive. Following on from the giddy highs of dot com optimism, and the previous lows of the 90s recession.
This political thing with TikTok is the result of our (in late 1800s) adaption of a Chinese system with American characteristics.
Notice that politicians calling for competition against TikTok are few and far between. Congress is running low on American-system supporters.
zionist mnuchin wants to buy it as propaganda for Israel.
Hate to say it but the Chinese could run Boeing better than Boeing.
Maybe we could trade Boeing to the Chinese for TikTok. Hunter could broker the deal with his deep knowledge and experience in paving the way for the Chinese to acquire sensitive American companies. And the Big Guy, Old Joe would get his ten percent.
“Hate to say it but the Chinese could run Boeing better than Boeing.”
As well as America better; by bout 10 orders of magnitude; than either Trump or Biden.
We dont need, or want anybody to RUN USA
We want freedom!
It’s a human need/instinct, except for the evil few who wanna run the show, or be spectators of the circus.
All on hipster north side. As Harry said, you can’t beat fun at the old ballpark!
link to cwbchicago.com
So, this means that No One Trusts Steve Mnuchin? I wonder why?
Could it have to be because of is sterling Reputation from the GFC?
Prof, he was the architect of the 2020 raids,
Mnuchin did produce Annabel, the movie about a satanic doll.
I prefer ‘Bride of Chucky’
Tik Tok and the young generation are not obedient enough to the Israeli lobby or its talking points, thus something had to be done.
link to nbcnews.com
Unless Israel can slaughter 30,000+ men, women and children without impunity, something must be done!
When will America wake up to the tremendous control that this small foriegn nation has upon your government. From all the middle east wars to the current genocide, our evil clownish leaders are there supply weapons for murder because campaign contribution are at stake. Its sickening.
And then there is this
link to thecanary.co
david is by far smarter than u are.
China will not allow Mish to reach 170++ zoomers and millennial in the US and billion
in the world.
Mish Mok
Nobody but the CIA is allowed to propagandize and spy on Americans, they will be the backer
The US needs to nationalize Tik-Tok, just like what is done by the other first class banana republics. Then form an executive committee from progressive Democrats to run the operations. They have to start this process somewhere.
The US does it better. Force sale to well connected oligarchs. If a banana republic did it to some US data gathering asset, it would meet full economic extortion to gun boats.
Have Boeing and United Airlines buy it and run it into the ground.
Tic Toc, like Facebook and MySpace and Friendster and Instawhatever are just computer programs, and there will always be a better computer program given enough time. They are brokers, and brokers always get killed by a better broker in time. .
Mish that is the Jonathan Turley approach
If they clean sweep, then the Bang Point, which is coming no matter who wins, and which I thought was perhaps 10-15 years out, will happen within somethinbg like the next 2 years
By Bang Point I am referring the financial crisis eventuated by Mt Market having the realization, a taste of which we got with the Treasury market collapsing into last October, that the US Government is now bankrupt and with no way to get out of it elegantly.
This “bang point” could happen in a day or a month or a year or in a decade.
Prepare accordingly for the timeframes.
It could be financial, world war, civil war 2.0, secession, border invasion incursion or a whole myriad of empire ending/changing scenarios. The mechanics don’t really matter. Something world/life changing is coming
Mnuchin is the ultimate swamp creature slash deep state operative, so not surprised to see his involvement here.
Going after TikTok is part of the drive to control the news and the narrative.
Mnuchin is a Zionist, Israel firster through and through. It’s all about the young people not worshiping Israel sufficiently.
link to thecanary.co
Click bait title lol! Good article! I think instead of banning simply regulate
You want happiness and optimism? Make participating in the economy an infrastructure for the greatest self actualization of gratitude since meditation and prayer with a gift of 50% of the price of virtually everything at retail sale all of which discount is rebated back to the merchant granting it to the consumer by the monetary authority.
One policy resolves our current major economic problems and changes the sociology and psychology of the entire nation. Too simple for the intellectual vanities of the erudite, too unorthodox for the terminally orthodox…and too world changing not to be a mega-paradigm change.
Congress pass the bill banning Tik Tok knowing Senate will note. Senate pass a bill with funding to Ukraine and Israel knowing Congress will do nothing.
I suppose they make this jokes all together in the Capitol Hill bar.
Fun fact:
U.S. Congress is composed of two chambers: the House and the Senate.
I wonder just how good your credit had to be to borrow the hundreds of BILLIONS of dollars from 2006 to 2020 to buy up all the stock, bonds, apartment buildings, houses, real estate, businesses etc. etc.? I mean, its not like the rich and moneyed ever put their own money at risk. They borrowed it all from compliant banks and did LLCs. So wanting to buy Tic Toc or anything else really only depends on whether you can get the “Benjamin Loans” or not. The rest of it is easy.
Truth is treason in the empire of lies