My new podcast episode is out.

Rand Paul — Deep State Exists, Uses Intelligence for Political Purposes

Paul pointed out that he believed Obama-era CIA Director John Brennan, Director of National Intelligence James Clapper and others used intelligence collected “without any judicial warrants” for political purposes, in addition to “try to bring Trump down.”...

The AntiMedia
Rand Paul: Deep State Exists, Uses Intelligence for Political Purposes

Truth In Media

Bill Mitchell — The bond vigilantes saddle up their Shetland ponies – apparently

One of Bill's best titles. Maybe "unicorns" would be better than ponies though. It's fantasy all the way with them.

Last week (February 8, 2018), we witnessed the US Senate spectacle with Rand Paul embarrassing himself with his lack of economic knowledge but also embarrassing both major parties – the Republicans for their gross hypocrisy and the Democrats for their gross idiocy. The – Congressional Record – of Paul’s speech (starting S817) is a classic. Also, last week, the stables were stirring apparently, as the ‘bond vigilantes’ were strapping on their saddles and getting ready to make the US government suffer for its so-called fiscal ‘ill discipline’. These characters apparently emerge out of the darkness of fiscal profligacy to defend our interests and force the government to run surpluses. Fantasy stuff all round. In fact, Rand Paul should resign and get a job he is more suited for (which would be?) and the bond vigilantes should make sure their Shetland ponies are not to wild for them. These bond traders play this elaborate game of bluff and pretend they have the power over the government. In fact, they are mendicants queuing up for their daily dollop of corporate welfare and the government could play them out of the game anytime it chose to. The problem is that the bluff works because governments are captive to the neoliberal nonsense that my professsion preaches.

Amazing that anyone still believes the "bond vigilante" nonsense after "Bond king" Bill Gross was ignominiously humbled.

Bill Mitchell – billy blog
The bond vigilantes saddle up their Shetland ponies – apparently
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Neil W. McCabe — Sen. Rand Paul Opposes Trump Airstrikes in Syria: ‘The United States Was Not Attacked’

“While we all condemn the atrocities in Syria, the United States was not attacked. The President needs congressional authorization for military action as required by the Constitution, and I call on him to come to Congress for a proper debate,” said Paul, who ran for the 2016 Republican presidential nomination against Trump.

“Our prior interventions in this region have done nothing to make us safer and Syria will be no different,” he said.

Earlier Thursday, the senator told Brian Kilmeade on Fox News Radio he was skeptical about the President’s ability to change Syria with new attacks.

“If he decides to do something in Syria, he would come to Congress and ask for a declaration of war. Short of congress voting on it, I’m opposed to illegal and unconstitutional wars,” he said.…

Might be good to have some evidence, too?

If this goes to Congress, it will be very interesting to see who votes which way after Iraq.Probably most people in Congress would rather not take that vote when it could be a career-killer. There is no doubt that HRC's vote for the Iraq War cost her.

Breitbart News
Sen. Rand Paul Opposes Trump Airstrikes in Syria: ‘The United States Was Not Attacked’
Neil W. McCabe

Juliegrace Brufke — Paul Ryan: Tax Credits In Obamacare Repeal Are Not An Entitlement

Ryan said the tax credits are different from the Affordable Care Act’s federal insurance subsides based on income, arguing the credits would give individuals the freedom to purchase the plan they feel is best without the government forcing people to buy insurance.

“No, that’s not an entitlement. Letting people keep more of their own money and doing what they want with it is not an entitlement,” he said. “If you think letting people keep more of their own money and letting them do what they want with it is an entitlement, then you must believe this is Washington’s money.”

The Daily Caller
Paul Ryan: Tax Credits In Obamacare Repeal Are Not An Entitlement
Juliegrace Brufke | Capitol Hill Reporter

Note: the ACA individual mandate is front loaded, requiring everyone to have insurance or be liable for a penalty. The Ryan plan is back loaded, not requiring participation but adding a penalty in the from of a higher premium for each period that a person chooses not to remain uninsured.

Mitch McConnell — If Rand Paul runs for president, 'he'll be able to count on me'

McConnell endorses candidacy of Rand Paul.

Kentucky. com
McConnell: If Rand Paul runs for president, 'he'll be able to count on me'
Sam Youngman

Read more here: http://www.kentucky.com/2014/11/06/3525224_mcconnell-reflects-after-reaching.html?rh=1#storylink=cpy

Digby — Tea Party’s great dunce-off: How Ted Cruz is quietly kicking Rand Paul’s butt

The real Tea Party.

At the time the Tea Party allegedly sprang up out of nowhere the country was still reeling from the war in Iraq and a financial crisis that shook the economy to its core, so it naturally marketed itself around economic issues. Therefore, the Tea Party was assumed to be populated by people who cared little about social issues and defense and instead signaled the beginning of a new, highly motivated libertarian faction in the GOP. But polling showed the Tea Party largely overlapped with the Christian Right and the traditional Republican hawks. In fact, they are the same people.

And it must be noted that the right wing of American politics is inherently reactionary and always animated by certain impulses, however they might be identified at a particular time. As sociologist Theda Skocpol, author (with Vanessa Williamson) of the book “The Tea Party and the Remaking of Republican Conservatism,” described them:

They are overwhelmingly older, white, conservative-minded men and women who fear that “their country” is about to be lost to mass immigration and new extensions of taxpayer-funded social programs (like the Affordable Care Act) for low- and moderate-income working-aged people, many of whom are black or brown. Fiscal conservatism is often said to be the top grassroots Tea Party priority, but Williamson and I did not find this to be true.

Salon
Tea Party’s great dunce-off: How Ted Cruz is quietly kicking Rand Paul’s butt
Digby

Laura Clawson — Cruz Caucus plots next Republican hostage taking ... of its own party

More on the GOP civil war from the trenches. High stakes game played by newbies to Congress and the political process. They think they are smashing success so far, and apparently so does their constituency. How this will play outside the base remains to be seen. Previously, candidates would through red meat to the base well in advance of the election and then with a wink-wink, run to the center. Seem that is ruled out by these purists. Previously, this would get you smacked down by the leadership. But these are different times.

Daily Kos
Cruz Caucus plots next Republican hostage taking ... of its own party
Laura Clawson

Kerry Eleveld — GOP civil war! Poll shows Tea Party disdains religious right

A new poll adds more heat to the GOP civil war — the Tea Party's lack of interest in the religious right's agenda...

Remember when Evangelicals were the staple of the Republican coalition? Turn them out and you could win any national election. Well, they are fast becoming the fringe of the GOP, based on recently released research from focus groups conducted by Stan Greenberg, James Carville and Erica Seifert for Democracy Corps.

The GOP is now roughly split into three factions: one-third Evangelical, one-quarter Tea Party and one-quarter moderates. These focus groups, which were purposely assembled homogeneously to encourage participation, were chosen because they comprise the base of the Republican Party.

True, the Tea Party has its own goals and it’s wreaking havoc on the Republican Party and the nation. But what’s striking about the insights gleaned from the groups is that both moderate and Tea Party Republicans view the Evangelical agenda as a total distraction.
Evangelicals are apparently beside themselves over losing the culture wars. According to the memo, they “believe their towns, communities and schools are suffering from a deep ‘culture rot’ that has invaded from the outside.” Their main focus is homosexuality, but they’re also concerned about the decline of small homogenous towns.

But the Tea Party folks couldn’t care less about social issues.

Salon
GOP civil war! Poll shows Tea Party disdains religious right
Kerry Eleveld

Ted Cruz is trying to combine the Libertarian wing of the Tea Party with the religious right. It will be interesting to see how that will work out for him. Rand Paul is already clued in to this dilemma as is Paul Ryan, who already encountered a sh*t storm in trying to push Ayn Rand and stay true to his Catholicism and had to "clarify" his position.

It's just not possible to combine Libertarianism or Objectivism with the social conservatism of the religious right without compromising one or the other.

Warren Mosler — Be the Fed

On the Fed's analysis it is stuck between a rock and a hard place.

The Center of the Universe
Be the Fed
Warren Mosler

See also
Matthew Boesler,  Richard Koo: I Can't Find Anyone To Refute My Argument That America Is In A 'QE Trap' at Business Insider

As Warren points out the Fed just thinks it is in a QE trap. The Fed doesn't need to taper and can continue indefinitely to expanded its balance sheet with POMO as long as it pays interest on reserves (IOR) and there is nothing "the market" can do for force the Fed's hand operationally. 

However, The Fed is also aware of public perception and the political dimension, too. Ron and Rand Paul are already maneuvering to block the confirmation of Janet Yellen. And the moron hoards are ready to storm the gates of the Fed, threatening its independence, if not its existence. So the conundrum the Fed faces is not only financial and economic but also social and political.

Peace Through Strength — How no-nonsense negotiations can prevent a war with Iran

Rand Paul confronts the neo-cons and supports the president's foreign policy.

Foreign Policy

Peace Through Strength — How no-nonsense negotiations can prevent a war with Iran

Sen. Rand Paul, Isaac Applbaum

The Huffington Post — Hot Mic Catches Rand Paul, Mitch McConnell Discussing Their Actual Government Shutdown Concerns —

Senate Minority Leader Mitch McConnell (R-Ky.) and Sen. Rand Paul (R-Ky.) were caught on a hot mic Wednesday discussing talking-points for the shutdown by local news station WPSD 6.

"I just did CNN and I just go over and over again 'We're willing to compromise. We're willing to negotiate.' I think... I don't think they poll tested we won't negotiate. I think it's awful for [Democrats] to say that over and over again," Paul said.

"Yeah, I do too and I, and I just came back from that two hour meeting with them and that, and that was basically the same view privately as it was publicly," McConnell agreed.

Paul added, "I think if we keep saying, 'We wanted to defund it. We fought for that and that we're willing to compromise on this', I think they can't, we're gonna, I think... well, I know we don't want to be here, but we're gonna win this, I think."

The Huffington Post

Hot Mic Catches Rand Paul, Mitch McConnell Discussing Their Actual Government Shutdown Concerns

David Lightman — Rand Paul careful about where family resemblance begins and ends in Iowa

Garry Hamdorf , a retiree, was impressed. “It’s immoral what government does, but Sen. Paul is one of the most responsible legislators we have,” he said after talking with the senator.

McClatchy Newspapers
Rand Paul careful about where family resemblance begins and ends in Iowa
David Lightman | McClatchy Washington Bureau


Oh, yes, and he is for abolishing the Fed and reinstating the gold standard.

Need I say, 2016 is upon us.

Jim Cook — Rand Paul Partied with Lobbyists for Tax Cheats Before Introducing Bill to Let Tax Cheats off the Hook

Cronyism and corruption at work among those purporting to clean up Washington.

Amazing at how little it takes to rent a senator. But "it's all legal," folks, so that is supposed to make it OK.

Irregular Times
Rand Paul Partied with Lobbyists for Tax Cheats Before Introducing Bill to Let Tax Cheats off the Hook
Jim Cook


Rand Paul Looks Out of Country and Out of State for Political Inspiration while Helping Tax Dodgers Hide Money
Jim Cook