Posted on 07/15/2022 5:41:46 PM PDT by Libloather
For its many flaws, the world of cryptocurrency has bequeathed to the English language a vivid new verb: rug-pulling. As its idiom-derived name suggests, rug-pulling is when a crypto developer hypes up a new coin or new project, gets ordinary people to invest in it, and then - all at once - shuts it down in such a way that they take all of their investors’ cash with them. It is a spectacular act of bad faith, a breach of trust so severe that it casts doubt on the entire cryptocurrency community, so-called.
Yesterday, Senator Joe Manchin of West Virginia rug-pulled Chuck Schumer, the Senate majority leader, committing a betrayal that could shape the character of climate politics in this country for decades to come. Manchin reportedly told Schumer that he could not support any energy or climate investments in the comprehensive Democratic bill meant to enact President Joe Biden’s domestic agenda. He also said that he could not support any new tax provisions on corporations or the wealthy.
I have been somewhat sympathetic to Manchin’s concerns in the past, criticizing Schumer earlier this year for ignoring his worries about inflation and the deficit. Even though Manchin had every reason to obstruct climate action—he receives more donations from the oil-and-gas industry than any other politician, for instance, and he and his family have made millions of dollars selling coal to a single power plant in West Virginia - he was right that the process has generally been a mess, and that neither Biden nor congressional Democrats have taken inflation seriously enough since it began to boil over last year.
But this reversal has burned through any remaining goodwill for Manchin among the press corps and, I suspect, the rest of his caucus. That’s because adopting a climate-and-new-taxes framework...
(Excerpt) Read more at theatlantic.com ...
Manchin is an old Democrat. He loves the old-fashioned spending, but not the modern craziness. Too bad for the Dems.
Doesn't that make him a Danger to Democracy?
Plus Biden’s approval rating in Manchin’s state (WV) is 16%, tied with WY for the lowest in the nation. Manchin is just properly representing his constituency.
He voted for their gun control crap. So did his sidekick Capito.
Rug-pulling is really a very old strategy in commerce, to promise something, then to snatch it away, causing everything based on it to tumble and be widely scattered. It was not invented with crypto-currency. It is a big part of every get-rich-quick scheme ever dreamed up in the long history of fraud and deceit. Some call it bait-and-switch.
Rug pulling is a terrible example. Manchin is from coal country I doubt he ever promised Schumer anything to do with climate change and then bailed out on him.
Old fashioned Dems love gun control. Just not the modern nonsense.
Co2 is a fertilizer and has greened da Erf over the last few decades.
Dude...he's a maverick. (snark)
Whay the Sam Hill would the press corps have any good will for anyone? Who thinks public figures are supposed to cater to the whims of the "press corps?"
Actually it’s called “pump and dump”. Charles Dickens wrote about it in Nicholas Nickleby 150-plus years ago, and it wasn’t a new idea then.
Senators are first representatives of their states in the US Senate and members of a political party further down the list. The Democrats have this idea that their members should tow the line and let leadership ram woke policies down the throats of those of us less enlightened folks.
Manchin needs “goodwill” from fake news like he needs a hole in the head.
Manchin is US Senators from deep red West Virginia. They don't like fake news nonsense there.
-PJ
*sob!*
I must say I think Manchin has played this masterfully. He’s still a democratic but, a democratic from WV so he knows which side of the bread gets buttered. What’s more, I think he knows this whole climate change stuff is bullshit. Obviously he can’t come right out and say that but actions speak louder than words.
I do believe he has done our country a great service.
Manchin should run for President.
We’ll see.
‘Rats are getting jammed by the Fall election and they know they need to get on with destroying America before they get broken.
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