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Fri, 13/01/2023 - 04:52
Jeff Beck has died! A masterful musician. Very sad. We move on. I read an interesting research paper recently – “The Great Retirement Boom”: The Pandemic-Era Surge in Retirements and Implications for Future Labor Force Participation – published in the US Federal Reserve Bank’s Finance and Economics Discussion Series (released November 2022), which illustrates how the pandemic is altering the behaviour of the US labour market. The lessons from the US are relevant everywhere as governments progressively ignore the reality that a dangerous virus is still in our midst and still causing havoc (deaths, long-term disability and more). For those who are continuing to claim the pandemic is some sort of conspiracy to control us or that Covid is less dangerous than influenza or that mask wearing is redundant and all the rest of the nonsense that seems to perpetrated by some on the Left who think they are for ‘freedom’ and those on the Right who just care about profits, this sort of research should presents a serious wake up call....
Bill Mitchell – billy blog
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Fri, 13/01/2023 - 04:50
Research conducted by New York University’s Center for Social Media and Politics into Russian trolling behaviour on Twitter in the lead-up to the 2016 US presidential election has found “no evidence of a meaningful relationship between exposure to the Russian foreign influence campaign and changes in attitudes, polarisation, or voting behaviour.” Which is to say Continue reading »
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Fri, 13/01/2023 - 04:00
Will anyone hear about it? We’re obsessing today on the Joe Biden documents case hour after hour so I doubt many of you have heard about this. Dean Baker reports: The December Consumer Price Index (CPI), following a great December jobs report, shows the economy has turned the corner and seems on a path to stable growth with moderate inflation. The CPI showed prices actually fell by 0.1 percent for the month. This brought the annualized rate of inflation over the last three months in the overall index to just 1.8 percent. With the drop in prices reported in December, the real average hourly wage for all workers is now 0.3 percent above its pre-pandemic level. For production and non-supervisory workers it is 0.8 percent higher. And, for production and non-supervisory workers in the low-paying hotel and restaurant sector it is up 5.7 percent. The overall index for December was held down by a 4.5 percent plunge in energy prices, but the 0.3 percent rise in the core index should not be terribly troubling.
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Fri, 13/01/2023 - 03:00
The “Online Philosophy Resources Weekly Update” will be adding a new feature: book reviews that appear in academic journals. The Weekly Update already includes sections for book reviews at Notre Dame Philosophical Reviews and in non-academic venues. To this, we’ll be adding “Open-Access Book Reviews in Academic Journals.” To make this work, the journals have to send in the reviews. In order to be included in this section, book reviews must be: open-access published no earlier than January 2023, published in an academic philosophy journal or, if published in a non-philosophy journal, be a review of a book authored by a philosopher, and submitted by email to dailynouseditor@gmail.com in the following format: “[Book Title] by [Book Author] is reviewed by [Review Author] in [Journal Title]”, where Journal Title must embed a link to the web page on which the book review appears (not to the journal’s homepage or table of contents). The Weekly Updates appear on Mondays. Normally, if you send in the links by Friday afternoon they can be included in the coming week’s edition.
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Fri, 13/01/2023 - 02:34
After Stagflation during the 1970s, many markets were liberalized and, over time, central banks made a lot more independent in lots of places. In addition, some countries in Europe embraced the EURO (and founded the ECB), and barriers between regulated banking and shadow-banking (including by investment banks) were removed. The intended aim, and in certain […]
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Fri, 13/01/2023 - 02:31

huTatjana Söding interviews environmental historian Troy Vettese about Half-Earth Socialism—a game based on a Verso book of the same name, co-written with Drew Pendergrass. In the game, the player plans the world economy with the aim of achieving climate justice, global democracy, and ‘the good life’ for all. Here, Söding and Vettese discuss the game, […]

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Fri, 13/01/2023 - 02:30
There are no classes in our society, conservatives argue Eric Levitz writes at Intelligencer: “Progressives have long held that the right’s economic theories are just elaborate rationalizations for funneling money to the elite.” John Kenneth Galbraith put it more elegantly: “The modern conservative is engaged in one of man’s oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.” Ed Kilgore remarks on House Republicans renaming the House Committee on Education and Labor the House Committee on Education & the Workforce. The change, Kilgore writes: reflects a tradition of Republican labor hostility that has grown more remarkable as the GOP has come to think of itself as the party of working people with white non-college-educated folk at the core of its electoral coalition. The GOP’s self-identification with the horny-handed sons and daughters of toil is central to its claim that the Democratic Party is now a vassal of woke coastal elitists with Ph.D.’s, whose ground troops are Big Government leeches and the immigrants who want to join them at the welfare trough.
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Fri, 13/01/2023 - 02:04

The twelfth-century figure William Longbeard was once widely known as a ‘spirited champion’ of the ‘poor people’ of London, executed because ‘death was long a favourite remedy for silencing the people’s advocates,’ in the words of Charles Dickens. The story of Longbeard and the revolt he led in 1196 formed part of the nineteenth-century radical […]

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Fri, 13/01/2023 - 01:24
New links… “If we can’t say exactly how we think, then how well do we know ourselves?” — Have you thought about how you think? Is it in pictures, in patterns, in words, or in some unsymbolized way?
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Fri, 13/01/2023 - 01:16

By any standard, the money the United States government pours into its military is simply overwhelming. Take the $858-billion defense spending authorization that President Biden signed into law last month. Not only did that bill pass in an otherwise riven Senate by a bipartisan majority of 83-11, but this year’s budget increase of 4.3% is the second highest in inflation-adjusted terms since World War II. Indeed, the Pentagon has been granted more money than the next 10 largest cabinet agencies combined. And that doesn’t even take into account funding for homeland security or the growing costs of caring for the veterans of this country’s post-9/11 wars. That legislation also includes the largest pay raise in 20 years for active-duty and... Read more

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Fri, 13/01/2023 - 01:00
In the latest version of the Online Safety Bill, a provision governing so-called “legal but harmful” content for adults has been removed. It would have likely meant the over-removal of lawful content, but its replacement is equally worrying. New provisions inserted by the government herald a regime of state-mandated enforcement of tech companies’ terms and […]
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Fri, 13/01/2023 - 01:00
“It’s not even clear that the documents had been in Biden’s possession” The GOP is beside itself over news that some classified documents were found in November among papers stored at the Penn Biden Center for Diplomacy and Global Engagement in Washington, D.C. by Biden’s own attorneys. Isn’t this just what prompted the FBI to investigate Donald Trump, they demand? Where’s the outrage? Where are the jackbooted thugs? Where’s Attorney General Merrick Garland’s investigation? Twitter quipster Jeff Tiedrich put the affair in context, tweeting, “weird how Joe Biden found classified documents and voluntarily returned them without claiming he magically declassified them, or saying the FBI planted them, or lying about having already returned them, or needing to have his shitty golf motel searched. what game is Biden playing”? Indeed, reports indicate the White House notified authorities immediately and the National Archives retrieved the Penn documents the next day. Clearly, the papers surfacing is unwelcome news for the Biden administration. As is news that a search turned up a second batch this week.
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Fri, 13/01/2023 - 00:30
Good morning! We’re minutes away from the December CPI report. I’ll be on Bloomberg TV to talk about inflation, the Fed, and the macro outlook at 12:10 p.m. ET today. As I wrote last week, the December jobs report was full of good news. Let’s hope the CPI report delivers more positive news about the pace at which inflation is receding.
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Fri, 13/01/2023 - 00:07
Hi all, I’ve written an article explaining why it’s high time we overcame our irrational fear of nuclear energy — a perfectly safe, zero-emission clean energy source — and embraced its revolutionary potential to offer cheap abundant energy for decades to come. The article is filled with lots of of myth-busting trivia about this tragically misunderstood technology.