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    • What Uber, Lyft, AirBnB, Microsoft and IBM Teach Us About Competitive Markets
      Predatory pricing is when you charge less for a product than it costs to produce.  The idea is to grab market share and drive competitors into bankruptcy, then raise prices, ideally once there is a lot less competition. Possibly related??? Uber lost 1.2 billion dollars this year https://t.co/5hhG2Q7DR5 — Donte Jawncrief (@OhWowHmm) August 27, 2016 […]
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Saturday Morning News and Views

Good Morning Conflucians!!!! It is 3 degrees here in the Boston western suburbs!!

Nevertheless, we are better off than you guys in the southern states where there is a winter storm going on. Yesterday, Texas and Oklahoma got about a foot of snow, and today the storm will move east into the Carolinas and Virgina and then out to sea.

California Conflucians are getting a break from the storms, but the state still needs more to end the long-term drought.

Our economics-challenged President is threatening to veto spending bills (except money for wars, banks, and insurance companies), because he thinks cutting the deficit is as important as creating jobs. I wonder when he’s going to figure out that the U.S. economy is dependent on consumer spending; and if people don’t have jobs, it’s kind of hard for them to buy things. Since he never held a full-time job before getting elected President and all his friends are rich corporate types, he doesn’t quite get what us ordinary people are so worried about.

“Like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don’t,” Obama said. “And if I have to enforce this discipline by veto, I will.”

In an effort to make a dent in the growing federal deficit, White House officials announced earlier this week that their budget proposal would keep non-military discretionary programs at fiscal 2010 levels (Greenwire, Jan. 26). The proposal would exempt some of the largest parts of the federal budget including defense and entitlement programs, such as Social Security and Medicare.

It will be up to Congress to decide whether to comply with this request in its spending bills, and Obama pled with them last night to toe the line — addressing critics from his own party and calling the effort vital to keep markets in line and avoid increases in the cost of borrowing.

I guess Obama thinks he can solve our economic problems by creating jobs in the military and defense industries. Maybe he is hoping a lot of us will go to work for Blackwater? I don’t know what he’s thinking, but I like Joseph Cannon’s idea of replacing Geithner with our own Dakinikat.

Eric Holder has been taking a lot of criticism from the right for locating the 9/11 conspiracy trial in New York City, and now he will be getting critiques from not non-Obots on the left. The Justice department review has cleared the Bush torture memo writers of professional misconduct.

Previously, the report concluded that two key authors—Jay Bybee, now a federal appellate court judge, and John Yoo, now a law professor—violated their professional obligations as lawyers when they crafted a crucial 2002 memo approving the use of harsh tactics, say two Justice sources who asked for anonymity discussing an internal matter. But the reviewer, career veteran David Margolis, downgraded that assessment to say they showed “poor judgment,” say the sources. (Under department rules, poor judgment does not constitute professional misconduct.)

By this time everyone should be aware that the Obama administration is not going to hold anyone accountable for planning or participating in torture. Continue reading

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