Reading

Created
Sun, 22/01/2023 - 22:03
How can we respond to a world of cascading disasters? Over the past past few years we’ve had to deal with all sorts of new or resurgent evils, including climate catastrophe, Covid and the global assault on democracy. That’s been made harder by the fact that our political leaders (and plenty of their supporters) have […]
Created
Sun, 22/01/2023 - 12:53
1 double crown roast of lamb (14 to 17 ribs) filled with ground lamb3 to 4 cups soft bread crumbs¼ cup butter or margarine, melted1 ½ teaspoons saltFew grains pepper1 medium onion, chopped2 stalks celery, minced2 cups canned crushed pineappleWater Remove ground meat from center of roast. Cook ground meat in a skillet over low […]
Created
Sun, 22/01/2023 - 12:18

When the limit is reached, it forces Congress to reaffirm its willingness to spend what it is already legally obligated to spend.

In my view (I am not a constitutional lawyer), the president should just ignore the debt ceiling as contradictory. Now, the president is assuming that one horn of the dilemma prevails when there is no logical reason for doing so. A constitutional argument can be made that the debt ceiling is in violation of the Constitution, specifically the Fourteenth Amendment, Section Four, and therefore, it doesn't stand. 

The Lens
The Debt Ceiling Limit is Destructive, Duplicative, and Dumb
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
Created
Sun, 22/01/2023 - 12:06
Mixed blessing, especially with the level of disorganization and divisiveness in India. 

Demographics leads to opportunities and challenges and population increase can increase growth but it can also present emergent challenges that are difficult to meet without high-level organization, which India has not demonstrated so far.

In contrast, China recognized its demographic challenges decades ago, which was the purpose of the one-child policy. Now China growth has stabilized and even begun to shrink. While this is positive overall, it also presents challenges such as an aging population for a while. But China's major issue at the time of the institution of the policy was not being able to feed its growing population. That spelt political trouble down the line so the government acted to preempt it. China also instituted a development program that has paid off.

Zero Hedge
India Overtakes China As World's Most Populous Nation
Tyler Durden
Created
Sun, 22/01/2023 - 12:00
In his Jeff Beck tribute last week, music industry maven Bob Lefsetz observed: And [Beck’s] death was so sudden. At 78. May sound old to you, but then you’re probably not a baby boomer. I mean the end is always looming, but you always believe it’s at some distant point in the future, when in truth it’s closer than you think. But it’s even weirder than that. The giants are falling. The building blocks of not only the British Invasion, but classic rock, are passing. The icons and the secondary players. But they were all major players to us, music was everything. Not only was it soul-fulfilling, it told you which way the wind blew. And the hits were not all the same and new ones popped up all the time, it was a veritable smorgasbord of greatness. Falling like dominoes. To paraphrase The Giant in Twin Peaks: “It is happening again.” “Difficult and gifted” would be a fitting epitaph. But with Crosby, the “gift” far out-trumped the “difficult”. No matter how bad things got for him, that heavenly, crystalline voice never faltered.
Created
Sun, 22/01/2023 - 11:00
It couldn’t have something to do with the Russia investigation, could it? Many people have wondered if Trump’s document haul had to do with his desire to publish classified information about the Russia investigation. After all, he said he was going to do it. Here’s a scoop from Murray Waas about the Special Counsel investigation: On the eve of Donald Trump’s last day in office as President, Trump sent a memo to his attorney general, and also the directors of National Intelligence and the CIA, directing them to declassify thousands of pages of highly classified government papers pertaining to the FBI’s investigation into the Russian Federation’s covert intervention into the 2016 US presidential election to help elect Trump and defeat Hillary Clinton. But Trump was stymied in his efforts to make the records public, leading the outgoing president to rage to aides that the documents would never see the light of day.
Created
Sun, 22/01/2023 - 08:27

Capitalizing the commons. Peter Dorman explains why this should not be done.

Basically, actual value lies real resources ("stuff"), not in nominal terms ("money"). For example, this is suggested by the distinction between nominal (market price) and real (inflation-adjusted price). The value of stuff is based on availability and utility. The most "valuable" real resources are are vital resources. On this scale, air and water are the most valuable, although owing to their availability, they are considered free goods.

Created
Sun, 22/01/2023 - 08:05
Trade is settled either by barter, including using commodities, mostly precious metals historically, or a "safe currency" that countries are willing to hold. The USD, GBP, and EUR are considered safe currencies. Thus, an issue arises with "de-dollarization," which includes all currencies that Western powers control the use of. These currencies are considered "safe," that is, are not only default free but also relatively stable, but being subject to Western control, they put users at a disadvantage in that they can be "weaponized." So the question arises, how to settle trade without using currency or settlement systems of "unfriendly" states.

One solution is two-party trade settled either by exchange of commodities that the respective partners to the trade desire, or by using their own currencies. Both alternatives are coming to be used now. 
Created
Sun, 22/01/2023 - 08:00
This is why it’s not something you should want. We don’t know anything a out the Special Counsel in the Biden case except that Trump appointed him as US Attorney. And this is not reassuring: At the Justice Department, Hur worked with Rosenstein on Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 election, the former deputy attorney general told CNN. Hur “was my point person and he had biweekly meetings with Mueller’s team and then briefed me on the progress of the Russian special counsel investigation,” Rosenstein said. “So he has seen that firsthand and he knows that you need not to be influenced by politics and make decisions based on fact and the law and the Department of Justice policy, and I think we can count on Rob to do that.” Rosenstein added: “Rob, like a lot of people I worked with at DOJ, believes it is important to engage in public service and feels a sense of responsibility.