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2:00PM Water Cooler 11/22/2024 | naked capitalism

by Lambert Strether
November 22, 2024
in Finance
Reading Time: 19 mins read
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By Lambert Strether of Corrente.

Chook Track of the Day

Northern Mockingbird, Damon-Garcia Sports activities Subject, San Luis Obispo, California, United States.

* * *

In Case You Would possibly Miss…

  1. Trump border czar beats chest..
  2. Resistance 2.0 funders and NGOs
  3. Mathematical considering .

* * *

Politics

“So lots of the social reactions that strike us as psychological are the truth is a rational administration of symbolic capital.” –Pierre Bourdieu, Classification Struggles

* * *

Trump Transition

“Trump Border Czar: If Sanctuary Cities Do Not Help, We Will Go Into The Group To Discover Felony Unlawful Immigrants” (transcript) [Laura Ingraham, RealClearPolitics]. “Incoming Trump “Border Czar” and former performing director of ICE Tom Homan laid out his plan to deport unlawful immigrants in an interview with FOX Information host Laura Ingraham.” • Homan might certainly be an efficient administrator, however there’s nothing on this chest-beating interview to show it. Since “sanctuary cities” are an up to date model of Calhoun’s nullification doctrine, I oppose the idea. However I’m gonna should get my knee seen to, the best way Ingraham and Homan are pounding on it.

* * *

The “chaos” speaking level, a hardy perennial:

“Trump’s each day chaos circus is already again in full power” [Aaron Rupar, Public Notice]. “Voters might have been keen to danger all of it for barely decrease egg costs, however no matter what they thought they have been doing, they’re getting a chaos machine — and that kind of factor will get exhausting fairly shortly.”

“Chaos reigns supreme in Trump’s Washington” [Axios]. “Trump has achieved historic political success by following his instincts — and his instincts are inclined to favor most chaos…. If previous is prologue, the tempo of chaos is unlikely to relent even after Trump will get his Cupboard in place.”

Lambert right here: Possibly I didn’t get the memo, however is there something extra chaotic than risking World Warfare III by making an attempt to attain escalation dominance over a nuclear energy, in their very own again yard? And the way about genocide? Is genocide chaotic or no?

The #Resistance

“Billionaire Musk foe bankrolls second Trump resistance” [Washington Examiner]. A maze of NGOs: “Pierre Omidyar, the founding father of eBay and a backer of progressive teams spearheading anti-Elon Musk campaigns, is behind a brand new initiative led by Democrats aiming to champion the second Trump resistance, information reveal. The initiative, known as Governors Safeguarding Democracy, was profiled within the New York Occasions final week as a newly-formed car for Govs. J.B. Pritzker (D-IL), Jared Polis (D-CO), and different governors to ‘defend the rule of legislation’ in states and push again on the insurance policies of President-elect Donald Trump. On its web site, GSD calls itself a “nonpartisan alliance” of leaders, although it’s unclear what Republican officers, if any, are concerned with the group. However, in response to nonprofit donation software program information, GSD shouldn’t be technically a stand-alone group. Quite, the Trump resistance operation is beneath the umbrella of a Governors Motion Alliance venture sponsored by International Impression, a Virginia-based charity. In September, Omidyar’s Democracy Fund, a non-public basis steering the left-wing billionaire’s fortune, routed $500,000 to the Governors Motion Alliance to assist ‘coordinating and strengthening the work of governors to handle particular threats to American democracy,’ Democracy Fund’s grants database reveals. Omidyar’s ties to the Trump resistance group, which operates beneath its father or mother umbrella alongside an effort known as the Reproductive Freedom Alliance, is a window into how billionaire progressives are ramping up campaigns to fight speculated GOP plans on abortion, immigration, and different situation areas. Democrats are enlisting high-powered legal professionals, whereas , the New York Occasions additionally reported.” And: “Omidyar’s group routed $750,000 in April to a venture known as Free Election Fund, which is related to Marc Elias, the Democratic superlawyer who pushed the discredited Steele File aiming to hyperlink Trump to Russia falsely in 2016… The Free Election Fund was known as the Democracy Docket Authorized Fund. It’s housed beneath the Hopewell Fund, a gaggle managed by an influential Democratic-aligned consulting agency known as Arabella Advisors. In 2020, Omidyar’s Democracy Fund additionally granted $1.5 million to the Elias-linked authorized group ‘to detect and fight suppressive voting legal guidelines and practices by litigation,’ information present. GSD, the group co-chaired by Pritzker and Polis, says on its web site that it’ll ‘.’ The group can even purpose ‘to guard government companies, elections, state courts, and different core democratic our bodies,’ GSD provides on its web site.” • Oh, playbooks [musical interlude].

Syndemics

“I’m in earnest — I cannot equivocate — I cannot excuse — I cannot retreat a single inch — AND I WILL BE HEARD.” –William Lloyd Garrison

* * *

Covid Assets, United States (Nationwide): Transmission (CDC); Wastewater (CDC, Biobot; consists of many counties; Wastewater Scan, consists of drilldown by zip); Variants (CDC; Walgreens); “Iowa COVID-19 Tracker” (in IA, however nationwide information). “An infection Management, Emergency Administration, Security, and Common Ideas” (particularly on hospitalization by metropolis).

Lambert right here: Readers, thanks for the collective effort. To replace any entry, do be at liberty to contact me on the deal with given with the vegetation. Please put “COVID” within the topic line. Thanks!

Assets, United States (Native): AK (dashboard); AL (dashboard); AR (dashboard); AZ (dashboard); CA (dashboard; Marin, dashboard; Stanford, wastewater; Oakland, wastewater); CO (dashboard; wastewater); CT (dashboard); DE (dashboard); FL (wastewater); GA (wastewater); HI (dashboard); IA (wastewater studies); ID (dashboard, Boise; dashboard, wastewater, Central Idaho; wastewater, Coeur d’Alene; dashboard, Spokane County); IL (wastewater); IN (dashboard); KS (dashboard; wastewater, Lawrence); KY (dashboard, Louisville); LA (dashboard); MA (wastewater); MD (dashboard); ME (dashboard); MI (wastewater; wastewater); MN (dashboard); MO (wastewater); MS (dashboard); MT (dashboard); NC (dashboard); ND (dashboard; wastewater); NE (dashboard); NH (wastewater); NJ (dashboard); NM (dashboard); NV (dashboard; wastewater, Southern NV); NY (dashboard); OH (dashboard); OK (dashboard); OR (dashboard); PA (dashboard); RI (dashboard); SC (dashboard); SD (dashboard); TN (dashboard); TX (dashboard); UT (wastewater); VA (wastewater); VT (dashboard); WA (dashboard; dashboard); WI (wastewater); WV (wastewater); WY (wastewater).

Assets, Canada (Nationwide): Wastewater (Authorities of Canada).

Assets, Canada (Provincial): ON (wastewater); QC (les eaux usées); BC (wastewater); BC, Vancouver (wastewater).

Hat tricks to useful readers: Alexis, anon (2), Art_DogCT, B24S, CanCyn, ChiGal, Chuck L, Festoonic, FM, FreeMarketApologist (4), Gumbo, hop2it, JB, JEHR, JF, JL Joe, John, JM (10), JustAnotherVolunteer, JW, KatieBird, KF, KidDoc, LL, Michael King, KF, LaRuse, mrsyk, MT, MT_Wild, otisyves, Petal (6), RK (2), RL, RM, Rod, sq. coats (11), tennesseewaltzer, Tom B., Utah, Bob White (3).

Keep protected on the market!

Morbidity and Mortality

“Oil and fuel properly proximity linked to increased charges of COVID-19 mortality” [Phys.org]. “However a brand new research by Timothy Archer and colleagues is the primary, to the authors’ information, to review whether or not proximity particularly to grease and fuel improvement is also linked to increased charges of COVID-19. The researchers studied COVID-19 case and loss of life charges through the first 12 months of the pandemic (February 2020 to January 2021), specializing in California communities positioned inside 6.2 miles (10 kilometers) of energetic oil and fuel wells. Along with COVID-19 case information, the researchers…. In communities inside 0.6 miles (1 kilometer) of an actively producing properly, COVID-19 instances have been 34% increased and mortality charges have been 55% increased within the first 4 months of the pandemic. Although the outcomes didn’t present a big affiliation between properly manufacturing and COVID-19 instances over your entire 12 months, mortality charges have been increased within the areas with the best manufacturing.” • Hmm.

* * *

TABLE 1: Each day Covid Charts

Wastewater
This week[1] CDC November 11 Final Week[2] CDC (till subsequent week):

★ Variants [3] CDC November 23 Emergency Room Visits[4] CDC November 9

Hospitalization
★ New York[5] New York State, information November 21:★ Nationwide [6] CDC November 21:

Positivity
Nationwide[7] Walgreens November 18: Ohio[8] Cleveland Clinic November 16:

Vacationers Information
Positivity[9] CDC October 28: Variants[10] CDC October 28:

Deaths
Weekly Deaths vs. % Positivity [11] CDC November 2: Weekly Deaths vs. ED Visits [12] CDC November 2:

LEGEND

1) ★ for charts new right now; all others usually are not up to date.

2) For a full-size/full-resolution picture, Command-click (MacOS) or right-click (Home windows) on the chart thumbnail and “open picture in new tab.”

NOTES

[1] (CDC) Excellent news!

[2] (CDC) Final week’s wastewater map.

[3] (CDC Variants) KP.* nonetheless common. XEC has entered the chat. That WHO label, “Ommicron,” has performed an important job normalizing successive waves of an infection.

[4] (ED) Down.

[5] (Hospitalization: NY) Steadily down.

[6] (Hospitalization: CDC). Truly improved; it’s now one of many few charts to indicate your entire course of the pandemic to the current day.

[7] (Walgreens) Down.

[8] (Cleveland) Down.

[9] (Vacationers: Positivity) Down.

[10] (Vacationers: Variants). Now XEC.

[11] Deaths low, positivity down.

[12] Deaths low, ED down.

Stats Watch

There are not any official statistics of curiosity right now.

* * *

Manufacturing: “FAA eyes new Boeing 737 MAX pilot directions after smoke emergencies” [Seattle Times]. “The Federal Aviation Administration is weighing whether or not to require all pilots of 737 MAX plane to take off with the air circulate from the primary engines into the plane’s inside turned off — to keep away from a danger of smoke flooding the airplane if one of many engines hits a chicken. Such a change in takeoff process for pilots can be short-term till Boeing comes up with a everlasting repair. Devising that might additional delay certification of the Renton-built MAX 7 and MAX 10 fashions. The FAA mentioned in an announcement Thursday that it ‘will convene a Corrective Motion Overview Board within the coming weeks to look at the information and develop a path ahead’ and assess the choices to stop the danger of smoke getting into the cockpit or passenger cabin. Within the meantime, the FAA mentioned that as a result of pilots have been alerted to the process they need to comply with if smoke enters the airplane, ‘this isn’t an instantaneous flight-safety situation.’ The proposed FAA motion is a response to the security danger uncovered by two critical incidents on Southwest Airways MAXs final 12 months. In these two incidents, a chicken collided with an engine throughout takeoff and the harm brought on an oil leak. The oil ignited within the sizzling engine, sending heavy smoke and fumes into the inside of the airplane. Airflow off an plane’s engines — often called “bleed air” — is generally directed to the airplane inside and handed by air-con packs to regulate the air strain and temperature inside.” • Nonetheless nothing from Gates or the Seattle Occasions on Ortberg’s “cease bitching” pep speak. Odd!

Manufacturing: “Boeing inks contracts value greater than $4B for KC-46s, P-8s” [Breaking Defense]. “The Pentagon this week awarded Boeing a pair of separate contracts for 15 KC-46A Pegasus tankers and 7 P-8A Poseidon maritime surveillance plane, offers which might be collectively value greater than $4 billion. Though each contracts had been anticipated beneath present plans, getting the offers signed is nice information for Boeing, whose protection arm logged $2 billion in losses for its final fiscal quarter and which is going through company-wide layoffs…. ‘This $1.67 billion contract for seven extra P-8A Poseidons not solely reinforces the U.S. Navy’s dedication to sustaining a strong maritime presence but in addition highlights Boeing’s dedication to delivering protected, dependable platforms that improve the Navy’s operational capabilities, readiness and effectiveness,’ [said] Tory Peterson, vice chairman and P-8 program supervisor at Boeing.” • “Undefinitized”? Is {that a} phrase?

The Bezzle: “An ideal storm is brewing for Bitcoin” [CoinTelegraph]. “Bitcoin is the world’s most reflexive asset right now. The USA Securities and Trade Fee just lately accredited choices for a number of Bitcoin exchange-traded funds (ETFs). As soon as issued, these choices result in gamma squeezes, performing like reflexivity. Collectively, that’s reflexivity squared, resulting in unprecedented value actions…. Monetary markets are deeply influenced by human conduct. George Soros famously coined the idea of “reflexivity” to explain the round relationship between notion and actuality in monetary markets. Bitcoin exemplifies this idea greater than another asset: As its value rises, the asset garners rising consideration, which ends up in additional funding, driving costs even increased. Outstanding traders similar to Jamie Dimon and Warren Buffett have criticized Bitcoin due to its reflexive nature. They’ve argued that it lacks intrinsic worth as a result of its value appears to maneuver primarily based on notion. However that’s exactly the purpose: Bitcoin is essentially the most reflexive asset as a result of its provide is genuinely finite, extra finite than valuable metals or top-performing equities. The shortage of Bitcoin is what makes it essentially invaluable.”

Tech: “‘A spot of pleasure’: why scientists are becoming a member of the frenzy to Bluesky” [Nature]. “Within the two weeks for the reason that US presidential election, the platform has grown from near 14 million customers to almost 21 million. Bluesky has broad attraction largely as a result of it seems to be and feels loads like X (previously often called Twitter), which grew to become massively common with scientists, who used it to share analysis findings, collaborate and community. One estimate means that at the very least half one million researchers had Twitter profiles in 2022…. Daryll Carlson, a bioacoustics researcher on the College of New Hampshire in Durham, says she seen the biggest inflow of customers on Bluesky after the US election. Musk has change into carefully aligned to president-elect Donald Trump. For Carlson, Bluesky presents an area to interact with different scientists, in addition to artists, photographers and most people. ‘I’d actually prefer it to proceed to be a spot of pleasure for me,’ she says.” • Identical to the Kamala marketing campaign…

* * *

Right now’s Worry & Greed Index: 61 Greed (earlier shut: 57 Greed) [CNN]. One week in the past: 51 (Impartial). (0 is Excessive Worry; 100 is Excessive Greed). Final up to date Nov 22 at 1:12:19 PM ET.

Permaculture

“The World’s Oldest Forest Is Right here within the Hudson Valley” [Hudson Valley]. “On the ground of an deserted quarry in Cairo, in Greene County, researchers have discovered the earliest tree fossils but found anyplace on this planet. Relationship again roughly 387 million years, the discover has completely rewritten the story of the origins of timber. One researcher known as the invention nothing lower than ‘mindblowing.’… After starting research within the area in 1993, the collective made vital inroads in 2007 and 2008 after they discovered to acknowledge the bases of two varieties of fossil timber. In keeping with [Christopher] Berry, one is the big rooting system of the Archaeopteris tree, whereas the opposite is the dish-like imprint of the Cladoxylopsid tree, which comprises a whole bunch of radiating roots… It’s no exaggeration to say that this is likely one of the most necessary issues that has occurred within the historical past of the world. These early timber absorbed carbon dioxide from the environment, which led to a fast cooling favorable to extra sophisticated types of animal life. The shade supplied by the broad, flat leaves of taller timber protected critters on the bottom from the solar, and the roots restricted soil erosion. ‘The arrival of those forests was the creation of the trendy world,’ Berry advised Smithsonian Journal.” And: “Finally, the stays of these early vegetation and timber, compacted over a whole bunch of tens of millions of years, grew to become the coal deposits that fueled the Industrial Revolution, returning the carbon that they had absorbed into the environment, thereby triggering the current age of worldwide warming.” • Oh. Anyhow, right here’s an image of a fossilized root system:

“Salmon return to put eggs in historic habitat after largest dam elimination venture in US historical past” [Oregon Public Broadcasting]. “An enormous feminine Chinook salmon flips on her facet within the shallow water and wriggles wildly, utilizing her tail to carve out a nest within the riverbed as her physique glistens within the daylight. In one other second, males butt into one another as they jockey for place to fertilize eggs. These are scenes native tribes have dreamed of seeing for many years as they fought to convey down 4 hydroelectric dams blocking passage for struggling salmon alongside greater than 400 miles (644 kilometers) of the Klamath River and its tributaries alongside the Oregon-California border. Now, lower than a month after these dams got here down within the largest dam elimination venture in U.S. historical past, salmon are as soon as extra returning to spawn in cool creeks which have been lower off to them for generations.” • Lower than a month!!

Gallery

“Man who spent $6.2 million on banana duct-taped to wall says he’s going to eat it” [NBC]. Grocery inflation simply hit its peak after a single banana was bought for $6.2 million Wednesday. Cryptocurrency entrepreneur Justin Solar dropped over $6 million on the piece of produce — as a result of it was duct-taped to a wall. The banana is a part of a bit of art work known as Comic, created by the Italian artist and satirist Maurizio Cattelan. ‘Within the coming days, I’ll personally eat the banana as a part of this distinctive inventive expertise, honoring its place in each artwork historical past and common tradition,’ he mentioned. Solar’s snacking gained’t change the worth of his funding, nevertheless. His $6.2 million buy awarded him a roll of duct tape, directions on the way to ‘set up’ the banana correctly and, most significantly, a certificates of authenticity guaranteeing the art work, when reproduced by Solar, as an unique work of Cattelan’s, CNBC reported. The soon-to-be devoured banana wasn’t included in his winnings, because the fruit tends to rot shortly. However the worth of the art work isn’t within the banana itself — it’s derived from the certificates accompanying the acquisition.” • I’m undecided this enterprise scales.

Information of the Wired

“Mathematical Pondering Isn’t What You Assume It Is” [Quanta]. “In keeping with [mathematician David Bessis], the best way math is taught at school emphasizes the logic-based a part of this course of, when the extra necessary component is instinct. Math ought to be regarded as a dialogue between the 2: between purpose and intuition, between language and abstraction. It’s additionally a bodily follow of kinds, like yoga or martial arts — one thing that may be improved by coaching. It requires tapping right into a childlike state and embracing one’s creativeness, together with the errors that include it.” BESSIS: “Whenever you do math, you’re uncovered to the human thought course of in a approach that’s actually pure. It’s not nearly understanding issues, however about understanding issues in a really infantile, deep, naïve, tremendous clear, apparent approach. It’s superb coaching for creativity. It’s a scaffold in your creativeness.” • Bessis is French, and the article is accompanied by photographs of Paris (and Bessis) which might be so Parisian I need to discover an artwork home cinema and begin watching Truffaut films. And begin smoking cigarettes.

* * *

Contact data for vegetation: Readers, be at liberty to contact me at lambert [UNDERSCORE] strether [DOT] corrente [AT] yahoo [DOT] com, to (a) learn how to ship me a examine if you’re allergic to PayPal and (b) to learn how to ship me photographs of vegetation. Greens are advantageous! Fungi, lichen, and coral are deemed to be honorary vegetation! If you’d like your deal with to seem as a credit score, please place it at the beginning of your mail in parentheses: (thus). In any other case, I’ll anonymize by utilizing your initials. See the earlier Water Cooler (with plant) right here. From TH:

TH writes: “I made a decision to attempt opening this e mail account on my dying laptop since I used to be in a position to make use of it’s Picasa on some photographs, and what have you learnt? Right now it’s working. That is Thunbergia rising in a stunning backyard on Naples Island in Lengthy Seaside (CA).”

Type readers, we’re virtually there with plant photographs. Thanks! However one factor: I’m largely seeing handles or e mail addresses that I already know. If you happen to haven’t despatched in a plant photograph to Water Cooler, why not attempt it? It’s straightforward, it’s enjoyable, and also you get some good compliments! (If you happen to want instructions, see beneath.)

* * *

Readers: Water Cooler is a standalone entity not lined by the annual NC fundraiser. Materials right here is Lambert’s, and doesn’t categorical the views of the Bare Capitalism web site. If you happen to see a hyperlink you particularly like, or an merchandise you wouldn’t see anyplace else, please don’t hesitate to precise your appreciation in tangible kind. Keep in mind, a tip jar is for tipping! Common constructive suggestions each makes me really feel good and lets me know I’m heading in the right direction with protection. Once I get no donations for 3 or 4 days I get fearful. Extra tangibly, a continuing trickle of donations helps me with bills, and I consider that trickle when setting fundraising objectives:

Right here is the display that may seem, which I’ve helpfully annotated:

If you happen to hate PayPal, you may e mail me at lambert [UNDERSCORE] strether [DOT] corrente [AT] yahoo [DOT] com, and I offers you instructions on the way to ship a examine. Thanks!

Coffee Break: The President Fixes Health Care While Unfixing the Air We Breathe, Among Other Things

This entry was posted in Visitor Publish, Water Cooler on November 22, 2024 by Lambert Strether.

About Lambert Strether

Readers, I’ve had a correspondent characterize my views as life like cynical. Let me briefly clarify them. I consider in common packages that present concrete materials advantages, particularly to the working class. Medicare for All is the prime instance, however tuition-free school and a Publish Workplace Financial institution additionally fall beneath this heading. So do a Jobs Assure and a Debt Jubilee. Clearly, neither liberal Democrats nor conservative Republicans can ship on such packages, as a result of the 2 are totally different flavors of neoliberalism (“As a result of markets”). I don’t a lot care concerning the “ism” that delivers the advantages, though whichever one does should put widespread humanity first, versus markets. May very well be a second FDR saving capitalism, democratic socialism leashing and collaring it, or communism razing it. I don’t a lot care, so long as the advantages are delivered.

To me, the important thing situation — and that is why Medicare for All is at all times first with me — is the tens of 1000’s of extra “deaths from despair,” as described by the Case-Deaton research, and different latest research. That giant physique rely makes Medicare for All, on the very least, an ethical and strategic crucial. And that stage of struggling and natural harm makes the issues of identification politics — even the worthy battle to assist the refugees Bush, Obama, and Clinton’s wars created — brilliant shiny objects by comparability. Therefore my frustration with the information circulate — at the moment in my opinion the swirling intersection of two, separate Shock Doctrine campaigns, one by the Administration, and the opposite by out-of-power liberals and their allies within the State and within the press — a information circulate that continually forces me to deal with issues that I regard as of secondary significance to the surplus deaths. What sort of political economic system is it that halts and even reverses the will increase in life expectancy that civilized societies have achieved? I’m additionally very hopeful that the persevering with destruction of each get together institutions will open the house for voices supporting packages much like these I’ve listed; let’s name such voices “the left.” Volatility creates alternative, particularly if the Democrat institution, which places markets first and opposes all such packages, isn’t allowed to get again into the saddle. Eyes on the prize! I really like the tactical stage, and secretly love even the horse race, since I’ve been running a blog about it each day for fourteen years, however every little thing I write has this angle behind it.



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