Reading

Created
Tue, 14/03/2023 - 15:51
I remember reading at some impressionable age that there was “no such thing as writer’s block”. I don’t recall the context, but I’m guessing it was the same as my friends who said “there’s no such thing as jetlag”: a small crucifix to wield at the devil itself, rather than a statement of fact. I […]
Created
Tue, 14/03/2023 - 14:05

A growing body of evidence suggests that the US would blow up the global economy to prevent China from laying claim to Taiwan’s semiconductor factories. Former White House National Security Advisor Robert C. O’Brien has hinted at a sinister US contingency plan in the event of a Chinese invasion of Taiwan. Rather than see Taiwan’s semiconductor factories fall into the hands of the Communist Party of China, the US and its allies would simply pull a Nordstream. “The United States […]

The post Former US natsec advisor: destroy Taiwan semiconductor factories if China invades appeared first on The Grayzone.

Created
Tue, 14/03/2023 - 09:30
Republican politics in a nutshell I’ve written this in various forms over the years, but I think JV Last distills it perfectly: Last week Amanda Carpenter made the point to me (on TNL) that Republican voters have simply decided that they like DeSantis. Period. And once voters decide they like a candidate, then all of the logic flows from there. In politics, Amanda argued, voters make their decisions first and then rationalize backwards. And that theory was on full display in The Focus Group podcast this weekend (listen to the show here) where Sarah talked with groups of evangelical Christians who voted for Trump in both 2016 and 2020. If you go by the numbers, then for these voters, Mike Pence should be The Guy. But to a man, they were all anti-Pence. Why? Their rationalizations were ridiculous: At the risk of playing armchair psychologist, there are only two possible explanations for such statements: -These people are dumb as a bag of hammers; or -After January 6th they decided that they no longer liked Pence. So they have now invented reasons to be against him. Option (2) seems more likely to me. Your mileage may vary.
Created
Tue, 14/03/2023 - 08:15

INET Research on Financial Sector Weakness and Too Big to Fail

After 2008 the financial system was supposed to be fixed thanks to Dodd-Frank, stress tests, higher capital requirements, and all that. Suddenly we now wake up to discover that the collapse of a single bank may mortally threaten large segments of the banking system and that authorities are reinstating the financial equivalent of Medicare for All (for financiers only). And this amid news reports that SVB leaders lobbied against regulatory restraints and higher FDIC fees and even paid out bonuses just before the takeover.

INET was founded in the wake of the 2008 financial crisis to help rethink the role finance plays in economic theory. Since then, it has broadened its mission, but this concern remains central to our purpose. INET has supported many of the best critical discussions of financial reform -- too many to list easily here. Naturally, we continue to commission and publish work in this area.