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Defunding the alt-right – Moneyman Robert Mercer Pulls the Plug

Looks like the paychecks just got pulled on the alt-right hate mongers.

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Robert Mercer’s shunning of Milo Yiannopoulos leaves allies stunned — but is a lawsuit to blame?

Allies of shadowy hedge fund billionaire Robert Mercer were shocked at the vehemence with which Mercer denounced provocateur Milo Yiannopoulos on Thursday, as well as Mercer’s disavowal of the “alt right” movement and the white supremacist values it espouses.

“Holy sh*t!” one Yiannopoulos supporter texted to Vanity Fair‘s Tina Nguyen after Mercer’s announcement. “I think it means Milo is officially de-funded.”

In his statement on Thursday, Mercer said, “[I]n my opinion, actions of and statements by Mr. Yiannopoulos have caused pain and divisiveness undermining the open and productive discourse that I had hoped to facilitate. I was mistaken to have supported him, and for several weeks have been in the process of severing all ties with him.”

Yiannopoulos — whose fortunes have been spiraling downward for nearly a year — was the subject of a BuzzFeed exposé last month that revealed his cozy relationship with white supremacists and even cozier relationship with the ghost writers who did the bulk of Yiannopoulos’ writing, uncredited and largely unpaid.

Mercer’s public statement from Thursday said that he is particularly bothered by accusations that he is a white supremacist.

“Of the many mischaracterizations made of me by the press, the most repugnant to me, have been the intimations that I am a white supremacist or a member of some other noxious group,” he wrote.

The Daily Beast’s Matt Lewis excoriated Mercer, however, for pumping millions of dollars into his various media projects, which Lewis contends have “destroy(ed) the conservative movement.”

“I’m sorry, Mr. Mercer, you don’t get to play Thoughtful Libertarian Man after bankrolling nativism, populism, and racism,” Lewis said.

Others, however, dismissed Mercer’s departure from Renaissance Technologies and sale of his share of Breitbart.com as a PR ploy designed to create public distance between Mercer’s business reputation and the increasingly toxic “alt right” brand of white supremacy.

“This seems to me much more like Robert Mercer separating…his image from his money-making capacity than an actual disassociation with the people he funded for so long,” said former Breitbart.com editor Ben Shapiro. “The only person who’s really damaged here is Yiannopoulos. Rebekah’s gonna continue funding Breitbart, [and] there’s no repentance or shift here…it’s just a P.R. maneuver to [take] pressure off his hedge-fund investors.”

One possible reason that Mercer is urgently attempting to rehabilitate his public image is a lawsuit filed by former Renaissance Technologies partner David Magerman, who has publicly accused Mercer of being a racist.

Magerman’s lawsuit revealed that Mercer told him that he believes the following things:

a) The United States began to go in the wrong direction after the passage of the Civl Rights Act in the 1960s;

b) African Americans were doing fine in the late-1950s and early-1960s before the Civil Rights Act;

c) The Civil Rights Act “infantilized” African Americas by making them dependent on government and removing any incentive to work;

d) The only racist people remaining in the United States are black; and

e) White people have no racial animus toward African Americans anymore, and if there is any, is it not something that the government should be concerned with.

 
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Posted by on November 3, 2017 in Chumph Butt Kicking, Domestic terrorism

 

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The Chumph and Puerto Rico

Can you imagine the response from the Federal Government if any major city in the US was hit by a natural disaster that as a result it would lose electricity for 3-6 months?

Well..That just happened to Puerto Rico.

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Houston Hurricane Harvey –

President Donald Trump has already made a $7.9 billion request to Congress for emergency funding, which the House passed Wednesday. It’s just a starting point for total Harvey recovery spending; the White House says it plans to request an additional $6.7 billion soon…

Trump promised last Monday “you’re going to see very rapid action from Congress” about approving recovery dollars. “We’re going to get your funding,” he told Texans.

Florida Hurricane Irma –

Trump approves greater FEMA aid for 37 Florida counties

HURRICANE IRMA AND HARVEY $15B DISASTER FUND WON’T LAST 30 DAYS, SAYS EX-FEMA CHIEF

Puerto Rico –

The tragedy has received relatively little media coverage compared to Harvey and Hurricane Irma, and President Donald Trump hasn’t brought much attention to it.

As Puerto Rico reels from hurricane, Trump focuses on football

Yeah …Puerto Rico has 4 things wrking against it

  1. Brown Skinned people
  2. Spanish Language
  3. Votes Democratic
  4. A Territory not a State

None of those things should count…But under the Chumph and the Reprobates they do.

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The U.S. Government Couldn’t Care Less About Helping Puerto Rico Right Now

In Puerto Rico, more than 3.3 million people—who are also U.S. citizens—are still without power, electricity, cellphone service, and, in many cases, the bare necessities for survival after Hurricane Maria pummeled the island nearly a week ago. And Congress doesn’t seem to be in any hurry to help them.

Jennifer Bendery, a HuffPost politics reporter, tweeted Monday that the White House was expected to send a disaster aid request to Congress sometime during the first or second week of October.

She went on to explain that FEMA and the Office of Management and Budget first need to assess the scope of the damage in Puerto Rico—where the governor said on Monday a “humanitarian crisis” is looming if help doesn’t arrive soon—then request money. Then Congress will act.

In a worst case scenario, that means Congress, a body not exactly know for its efficacy, could only start consideration of an aid bill for Puerto Rico sometime after October 10 (the legislature won’t meet on the 9th in observation of Columbus Day), nearly three weeks after the storm first made landfall on September 20.

For context, Hurricane Harvey—whose devastation, while significant, was nowhere near as horrific as what has happened in Puerto Rico—made landfall in Texas as a Category 4 storm on Friday, August 25. A massive aid bill easily passed through the House on September 6 and sped through a Senate vote the next day—pushing a significant aid package to start rebuilding parts of Texas and Louisiana decimated by Harvey onto the president’s desk less than two weeks after the storm hit.

So it’s hard not to read the somewhat lackadaisical approach Congress and President Trump are taking to helping Puerto Rico, an impoverished island that’s more than $74 billion in debt, as a cynical value judgement on what’s worth rebuilding. Trump’s Twitter page, his bullhorn of choice, makes the point even clearer. Since Maria, Trump has tweeted about the devastation in Puerto Rico twice. Just since Saturday, the president has tweeted (or retweeted) messages to stoke his ongoing war on the NFL over the national anthem protests 17 times.

 

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The Chumph Owned By the Russian Mob

Two documentaries from a Dutch TV Company this week – laying out Trumps Mob connections and money laundering.

 

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Where Have All the Black Businesses Gone? Depends on What You Define as a Business…

Not sure the author of this article has much of a grip on the dynamics of change in the black community in the past 50 years. First off is his limiting the scope of “Black Business” to the pre-Civil Rights, Jim Crow enforced black enclaves that formed the majority of the black communities in the US prior to 1965.

That world is, by and large…Gone. The simple fact is, everybody that could, financially…Done left the ghetto.

It also means that black owed businesses no longer had to limit themselves to selling product or services in very limited venues to solely black customers. And it meant that black owned businesses in black only neighborhoods was no longer protected from competition.

So where are the black owned businesses of today?

2012 Black Business Count

Indeed –

Black owned businesses in the United States increased 34.5% between 2007 and 2012 totaling 2.6 million Black firms. More than 95% of these businesses are mostly sole proprietorship or partnerships which have no paid employees. About 4 in 10 black-owned businesses (1.1 Million) in 2012 operated in the health care, social assistance; and other services such as repair, maintenance, personal and laundry services sectors.

Can black folks, and should they do better? You betcha. And there are a number of programs to educate prospective black entrepreneurs to better manage, promote, and finance their business ideas. I personally am very high on the ” Equity Crowdfunding” concept as a replacement for traditional Venture Capital for minority owned firms. The simple fact is, VC is a white boy’s club, which according to Forbes, invests less than .3% of their funds into black owned business despite the fact that black entrepreneurs in tech have higher success rates, and “exit event” (payout) rates calculated to provide returns 7 times more frequently than the typical VC investment in white boys out of college. Crowdfunding doesn’t appear so far to have such stereotype racism, and nearly 30% of the investments are going in to minority owned firms.

Now imagine that in 2020, the new leading source of startup capital is one in which there is a level playing field for minority-owned firms. Based on the experience of at least one equity crowdfunding platform, it’s quite possible that will be the case. In an internal sample of 5,000 companies using EquityNet, the world’s largest equity crowdfunding platform, 32 percent were minority-owned, including 9 percent owned by African-Americans. What’s more, minority-owned firms surveyed on EquityNet, which is based in Fayetteville, Arkansas, were achieving the same funding success rate (20 percent) and seeking similar amounts of capital on average (around $1 million) compared to non-minority-owned firms on EquityNet.

While Crowdfunding doesn’t solve the second or third stage money issues where typical investments can be from $3-20 million, it at least provides a platform whereby the start-up firm can either reach product production , or some level of revenue. With the success rate of equity crowdfunding, you can bet some enterprising financial folks are looking at setting up that second stage funding!

BOB charts 3

Lots of room for growth.

As to that article –

Where Have All the Black-Owned Businesses Gone?

They once served their communities when others wouldn’t, and over the past 30 years, they’ve practically vanished.

At the new National Museum of African American History and Culture in Washington, D.C., a hallway of glass display cases features more than a century’s worth of black entrepreneurial triumphs. In one is a World War II–era mini parachute manufactured by the black-owned Pacific Parachute Company, home to one of the nation’s first racially integrated production plants. Another displays a giant clock from the R. H. Boyd Publishing Company, among the earliest firms to print materials for black churches and schools. Although small, the exhibit recalls a now largely forgotten legacy: By serving their communities when others wouldn’t, black-owned independent businesses provided avenues of upward mobility for generations of black Americans and supplied critical leadership and financial support for the civil rights movement.

This tradition continues today. Last June, Black Enterprise magazine marked the 44th anniversary of the BE 100s, the magazine’s annual ranking of the nation’s top 100 black-owned businesses. At the top of the list stood World Wide Technology, which, since its founding in 1990, has grown into a global firm with more than $7 billion in revenue and 3,000 employees. Then came companies like Radio One, whose 55 radio stations fan out among 16 national markets. The combined revenues of the companies that made the BE 100s, which also includes Oprah Winfrey’s Harpo Productions, now totals more than $24 billion, a nine-fold increase since 1973, adjusting for inflation.

A closer look at the numbers, however, reveals that these pioneering companies are the exception to a far more alarming trend. The last 30 years also have brought the wholesale collapse of black-owned independent businesses and financial institutions that once anchored black communities across the country. In 1985, 60 black-owned banks were providing financial services to their communities; today, just 23 remain. In 11 states where black-owned banks had headquarters in 1994, not a single one is still in business. Of the 50 black-owned insurance companies that operated during the 1980s, today just two remain.

Over the same period, tens of thousands of black-owned retail establishments and local service companies also have disappeared, having gone out of business or been acquired by larger companies. Reflecting these developments, working-age black Americans have become far less likely to be their own boss than in the 1990s. The per-capita number of black employers, for example, declined by some 12 percent just between 1997 and 2014.

What’s behind these trends, and what’s the implication for American society as a whole? To be sure, at least some of this entrepreneurial decline reflects positive economic developments. A slowly rising share of white-collar salaried jobs are now held by black Americans, who have more options for employment beyond running their own businesses. The movement of millions of black families to integrated suburbs over the last 40 years also is a welcome trend, even if one effect has been to weaken the viability of the many black-owned independent businesses left behind in historically black neighborhoods.

But the decline in entrepreneurship and business ownership among black Americans also is cause for concern. One reason is that it largely reflects not the opening of new avenues of upward mobility, but rather the foreclosing of opportunity. Rates of business ownership and entrepreneurship are falling among black citizens for much the same reason they are declining among whites and Latinos. As large retailers and financial institutions comprise an ever-bigger slice of the national economy, the possibility of starting and maintaining an independent business has dropped. As the Washington Monthly has pointed out, market concentration has played a role in suppressing opportunity and in displacing local economies. Other studies, including a report published last year by President Obama’s Council of Economic Advisors, have substantiated these developments….Read the Rest Here

2012 Black Business Revenue

 

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Miller Lite – “Tap the Future”​ Competition – Daymon John, No Equity Angel Investment

Daymond gives some good advice here…

Miller Lite’s “Tap the Future” Contest is underway accepting applications through April 14th. The Contest participants (rules in link above) get $20,000 for being selected in the first round, and can get $100,000 if their idea is selected as an overall winner. As Daymon John points out above, the huge advantage in participation in the competition, is the money does not require giving up equity in the winning companies, giving the a massive leg up should their business move to the point of seeking secondary of tertiary investment. If you can get to the product prototype stage (or are already there) with $100,000, this is far better financially than pursuing “Angel” investors who will want 30-50% ownership. One of the most critical factors to success of a startup is keeping the investor/ownership group as small as possible. Winning this could mean the entrepreneur retaining majority ownership through at least the Venture Capital round.

Go for it!

 
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Posted by on February 27, 2017 in General, The Post-Racial Life

 

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Ground Game – Why Clinton Will Shred Trump

Hillary’s folks learned a hard lesson in 2008. Obama’s people put together a Ground Game for the Primary and election which was nonpareil, they knocked on doors, they attended community events, and they hit the trail.

They are not going to make that mistake again.

They are going to get the vote out.

Trumps campaign has benefited from a lot of free press, now that the novelty has worn off, the hammer is coming down.

Trump’s campaign dwarfed by Clinton’s

New FEC reports show that the likely Democratic nominee will start with a huge infrastructure advantage.

At the outset of the general election, Hillary Clinton’s campaign looks like a well-oiled juggernaut next to Donald Trump’s vastly smaller, self-funded operation, a POLITICO analysis of Federal Election Commission reports filed Friday found.

Through the end of last month, the period covered by the most recent FEC filings, Trump’s campaign had spent less than a third as much Clinton’s ($57 million to $182 million) and had assembled a staff about one-tenth the size of her (70 employees to 732), with a fraction as many offices (Trump last month paid $101,000 in rent vs. $328,000 for Clinton), the analysis found.

Trump — a billionaire rookie candidate whose own money had accounted for 75 percent of the $59 million brought in by his campaign — is moving quickly to buttress his campaign operations, partly by launching a fundraising and field operation in coordination with the Republican National Committee.

He did little to assemble the trappings of a traditional campaign during a chaotic primary during which he dispatched 17 rivals for the Republican presidential nomination, many of whom ran more traditional, and expensive, campaigns.

The $57 million Trump had spent through the end of April is only slightly more than the $54 million spent by Florida Sen. Marco Rubio, who dropped out of the race more than two months ago, and it’s far less than the $81 million spent by Ted Cruz. The Texas senator assembled a sophisticated micro-targeting machine that helped keep in the race until he dropped out this month, after being trounced by Trump in the Indiana primary.

Last month, as Trump was struggling to put away Cruz, Trump’s campaign spent $2.7 million on advertising, while Clinton spent $12 million on digital and broadcast media buys, as she worked to put away her rival for the Democratic nomination Vermont Sen. Bernie Sanders.

Yet Clinton’s campaign appeared to be preparing for the general election, spending far less than Sanders, whose $207 million in total spending marks him as the cycle’s biggest spender. He continued spending briskly in April, dropping $38.6 million, as compared to $23.9 million for Clinton. Sanders spent almost twice as much as Clinton on media and payroll (despite a slightly smaller staff), as well as more on online advertising and direct mail.

 

 
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Posted by on May 21, 2016 in Democrat Primary, The Clown Bus

 

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The Prison Industrial Complex in Mississippi

1930’s pictures of black men on the Chain Gang in the South are a icon of how black people were persecuted and forced to work in virtual slavery under Jim Crow.

While the Chin Gang may (or not) be gone, incarceration as a social tool and meas of oppression is not. Mississippi has third highest incarceration rate in the US, placing it solidly ahead of even repressive regimes around the world and communist countries.

Mississippi Jails Are Losing Inmates, And Local Officials Are ‘Devastated’ By The Loss Of Revenue

“If they do not send us our inmates back, we can’t make it,” said one county supervisor.

County officials across Mississippi are warning of job losses and deep deficits as local jails are being deprived of the state inmates needed to keep them afloat. The culprit, say local officials, is state government and private prisons, which are looking to boost their own revenue as sentencing and drug-policy reforms are sending fewer bodies into the correctional system.

In the late 1990s, as the overcrowded Mississippi prison system buckled under the weight of mass incarceration, the state asked local governments to build local correctional institutions to house state prisoners. It was billed as a win-win: The Mississippi Department of Correction would foot the bill for each prisoner, and the counties would get good jobs guarding them. The state guaranteed that the local jails would never be less than 80 percent occupied, and the locals would get a 3 percent boost in compensation each year.

After a few years, say local officials, the state offered a new deal: Instead of the 3 percent bump, they would give the locals more and more prisoners, thus boosting total revenue. Today, the state pays $29.74 per day per prisoner to the regional facilities, a deal that worked for everybody as long as the buildings were stuffed full with bodies.

Scott Strickland, president of the Stone County Board of Supervisors, said reforms at the state and local levels have shrunk the prison population. “Federal laws took some part in that — allowing prisoners to serve only a certain percentage of their term,” he said. “Also, they’ve reduced prison sentences for certain drug-related offenses.”

As the wave of mass incarceration begins to recede, the Mississippi controversy has local and state officials talking openly about how harmful locking up fewer people up will be for the economy, confirming the suspicions of those who have argued that mass incarceration is not merely a strategy directed at crime prevention. “Under the administrations of Reagan and Clinton, incarceration, a social tool used for punishment, also became a major job creator,” Antonio Moore, a producer of the documentary “Crack in the System,” wrote recently.

“I don’t think it necessarily started out this way, but the inmate population has become the backbone of some of these counties that are involved,” said Mississippi Corrections Commissioner Marshall Fisher as the controversy heated up.

The prisoners have value beyond the per diem, county officials add, when they can be put to work. State prisoners do garbage pickup, lawn maintenance and other manual labor that taxpayers would otherwise have to pay for. Convict labor has made it easier for local governments to absorb never-ending cuts in state funding, as tea party legislators and governors slash budgets in the name of conservative government.

The state knows it, and now demands that local jails house state convicts who perform labor for free, George County Supervisor Henry Cochran told The Huffington Post. The counties take the deal. “You’re either gonna go up on everybody’s garbage bill, or you’ve gotta house those inmates,” Cochran said. “You’re using that inmate labor, so [taxpayers are] getting a little good out of that inmate for their tax dollars. You either gotta hire a bunch of employees or keep that inmate. It’s like making a deal with the devil.”

 
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Posted by on April 15, 2016 in The New Jim Crow

 

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