Sunday, December 7, 2025

Week-end Wrap – Political Economy – December 07, 2025

Week-end Wrap – Political Economy – December 07, 2025

by Tony Wikrent


Trump not violating any law

'He who saves his Country does not violate any Law'

Trump Stuns By Saying ‘I Don’t Know’ When Asked Directly NBC’s Kristen Welker ‘Don’t You Need to Uphold the Constitution?’

Joe DePaolo, May 4th, 2025 [mediaite.com]


A Hard Truth About the DC Shooting 

Corbin Trent and America’s Undoing [via Naked Capitalism 12-02-2025] Important.


Trump’s Kill List, Brought To You By Obama And Cheney

David Sirota, December 02, 2025 [The Lever]

More than a decade ago, I asked a question that seemed fit for a Black Mirror episode: Who cannot be put on a president’s extrajudicial kill list?

Only that query wasn’t something out of a dystopian sci-fi series. It was in response to some real-world news: In the name of fighting terrorism, President Barack Obama had asserted the power to order executions without a judge, jury, or trial.

At the time, some of us were concerned that the power would be abused both by Obama’s administration (which extrajudicially executed three U.S. citizens) and by future presidents. Those concerns intensified after a federal court rubber-stamped Obama’s kill list, and after Obama’s spokesman brushed off the drone killing of an American teenager by saying he “should have [had] a far more responsible father.”

Fast forward to today, and the fears expressed more than a decade ago seem justified as President Donald Trump and Secretary of Defense Pete Hegseth order extrajudicial murders on the high seas in the name of fighting the drug war (all while Trump pardons a drug trafficker convicted in a court of law).


Fears grow inside military over illegal orders after Hegseth authorized follow-up boat strike 

[The Hill, via Naked Capitalism 12-02-2025]

“They have questions, because this didn’t come up before. This was never an issue throughout both administrations of the global war on terror in Iraq or Afghanistan. No one ever came down and said, ‘You’re immunized for any potential crimes you commit,’” Rosenblatt told The Hill of the increase in calls to his organization, which was established in 2020. He said such “activity was generally very low until three months ago.”


Entire Chain of Command Could Be Held Liable for Killing Boat Strike Survivors, Sources Say

Nick Turse, December 2 2025 [The Intercept]


Why Hegseth’s Alleged War Crime Will Never Be Revealed 

Ken Klippenstein L 12-4


It’s Not Only About Venezuela: Trump Intends a Wider Domino Effect

[defenddemocracy.press, Nov 30, 2025]


6 Countries That Wooed Trump With Lavish Gifts – And What They Got in Return
US foreign policy is apparently for sale. Here’s how much it costs.

Team Zeteo, Nov 30, 2025


Trump just pardoned a person responsible for more American deaths than Bin Laden — Trump 100% personally profited from this pardon

Dean Obeidallah, Dec 04, 2025

...This latest pardon was of former Honduran President Juan Orlando Hernandez—a narco-terrorist who was a business associate of the notorious drug dealer El Chapo. Hernandez served as President of Honduras from 2014 to 2022--but in reality his real business was flooding the United States with cocaine. As the U.S. Department of Justice put it, Hernandez “was at the center of one of the largest and most violent drug-trafficking conspiracies in the world.” (Below is from DOJ Press release after the conviction.)

Trump knew that by pardoning Hernandez it would destroy his claim that the reason he’s executing people in small boats off the coast of Venezuela was to protect Americans from drugs….


Strategic Political Economy

The Survival of the Shameless

Richard Murphy, December 04, 2025 [Funding the Future]

...Rutger Bregman begins by insisting that honest analysis requires starting with the misery. Ours is an age of moral collapse amongst elites — one where power is accumulated not through competence, courage, or service, but through shamelessness….


The Heresy of a God Who Hates Empathy — Why the struggle for the moral narrative in public life matters

William J. Barber, II and Jonathan Wilson-Hartgrove, Dec 04, 2025 [Our Moral Moment]

...In recent books like Toxic Empathy and The Sin of Empathy, Christian writers who want to cash in on this distorted moral narrative have been laying out carefully-reasoned arguments, much like their forebears who wrote the tomes to justify the slave system that so offended Dickens. These books are not compelling, nor have they sold incredibly well. PRRI’s latest American Values Survey found that 80% of US adults still say empathy is a moral value that underpins a healthy society. But a closer look at the data makes clear that nearly four in ten respondents who believe that America was founded as a “Christian nation” say empathy is a dangerous emotion that undermines the ability to set up a society guided by God’s truth. In the spaces where this distorted moral narrative dominates, the heresy is sounding more and more like truth.

What we are seeing with this attack on empathy is as egregious as Pharaoh and his paid religionists resisting Moses’ ancient call to “Let my people go.” The trouble with every heresy is that it doesn’t need to be compelling to do its lethal work. As it did with Ebeneezer Scrooge, this heresy about empathy can steal our humanity through thousands of daily decisions to turn away from our human family in need. It doesn’t take any big decision to become a Scrooge. Heresy normalizes the broad path that Scripture says leads to destruction - not with any fanfare, but as any highway directs its travelers toward a destination….


Global power shift

The China rare earths problem isn’t as bad as we think. It’s much worse: a look at gallium 

Kevin Walmsley [via Naked Capitalism 12-03-2025]


China releases white paper on arms control

ZHAO JIA | chinadaily.com.cn | Updated: 2025-11-28




[X-Twitter, via Naked Capitalism 12-03-2025]


BREAKING: Putin Signs Visa-Free Decree for 1.4 Billion Chinese Citizens. Effective Immediately.December 1, 2025.

The day the post-Western order became irreversible.

While Washington debates, Moscow just opened a demographic valve to one-fifth of humanity. No visas. No barriers. Thirty days of unrestricted access for tourism and business until September 2026.The market spoke before the ink dried.Booking surges of 400% within 48 hours. Russian hotel reservations for December up 50% year-over-year. Vladivostok arrivals climbing 37%, with 67,000 passengers flooding through. Fliggy reports flight reservations to Russia have nearly doubled compared to last year.



Gaza / Palestine / Israel

IDF Executes Two Surrendered Palestinians in West Bank — Israel Calls Them Heroes and Promotes Their Commander

Shaun King, Nov 30, 2025

Two men with their hands up, crawling as ordered, are shot dead on video. The minister in charge hugs the killers and hands out promotions.


Starve Them, Shoot Them, Bulldoze Them: CNN Documents Atrocities & Mass Graves in Gaza

Shaun King, Dec 03, 2025

A new CNN investigation shows Palestinians shot while trying to get flour, left to rot, and bulldozed into unmarked graves near an aid crossing.


A French Historian Got Into Gaza. There He Witnessed the IDF Helping to Loot Palestinian Aid Trucks

Shaun King, Dec 01, 2025

In other words, while Israelis went on TV and blamed Hamas for “stealing aid,” Filiu says he watched the Israeli military shoot the people trying to protect the trucks and clear the way for gangs.


Hillary Clinton Says Young Americans Are Pro-Palestine Because They Watch ‘Totally Made Up’ Videos of Gaza Horrors 

[Mediate, via Naked Capitalism 12-03-2025]


Russia / Ukraine

Kushner’s Moscow mission wasn’t just corrupt. It was unconstitutional. 

[Popular Information, via Naked Capitalism 12-03-2025]

Jared Kushner, President Trump’s son-in-law, has been traveling the world to participate in high-stakes foreign policy negotiations on behalf of the president. On Tuesday, Kushner traveled to Moscow and sat across the table from Russian President Vladimir Putin to discuss a peace deal to end the war in Ukraine. The entire United States delegation consisted only of Kushner and Special Envoy Steve Witkoff. Kushner and Witkoff were joined at the table by an interpreter….

Kushner is engaged in activities that can only be conducted by government officials. The Logan Act bars private citizens from engaging in negotiations with foreign governments without authorization. Kushner is acting in an authorized capacity, under Trump’s direction, and that creates a host of legal issues.

As a de facto SGE with substantial authority, the Foreign Emoluments Clause of the Constitution prohibits Kushner from accepting “any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.”

Since leaving the White House in 2021, Kushner has raised at least $4.8 billion for Affinity Partners, his private equity firm. Nearly 99% of Affinity Partners’ funding comes from foreign sources. The largest investment, $2 billion, came from the Public Investment Fund of Saudi Arabia (PIF)….

Kushner is continuing to collect these fees as he serves in a top foreign policy role for the Trump administration. This is precisely the kind of behavior the Foreign Emoluments Clause was designed to prevent….


Oligarchy

The billionaire-backed techno-utopia at the heart of Trump’s controversial pardon 

[Oligarch Watch, via Naked Capitalism 12-05-2025]


Felonomics

Forget Whether Or Not DOGE Exists: Will Anyone Be Held Accountable For 600,000 Deaths? 

Mike Masnick, Dec 3rd 2025 [TechDirt, via Naked Capitalism 12-04-2025]

...The “headline” from a recent Reuters piece is the claim that DOGE has been disbanded eight months before its scheduled demise. Except that appears not to be true. The White House later disputed this story….

“DOGE” took over a non-temporary organization: the previously highly effective US Digital Services group, and like a parasite, took over its host by expelling all of those who did good work. It will remain.

And, as Wired rightly notes, the DOGE bros are now fully embedded throughout the federal government.

“That’s absolutely false,” one USDA source says of reporting that DOGE has disbanded. “They are in fact burrowed into the agencies like ticks.”

Wired’s report has details on a bunch of DOGE bros with little-to-no relevant experience who are continuing the DOGE grift while employed throughout the federal government, detailing the new (and constantly changing) set of job titles of a bunch of the DOGE crew, almost all of which they seem wholly unqualified for….

The question of whether or not DOGE still exists completely misses the point. This team of overconfident know-nothings created real damage not just to the institution of the federal government, but to many essential projects around the globe. And they will never, ever, try to take responsibility for their ignorant smashing of the system….

This answer deserves calling out specifically what Musk is doing here: he’s dismissing programs that distribute HIV medications, prevent malaria deaths, and provide tuberculosis treatment as if they were all hypothetical panda scams. These aren’t abstract NGOs of questionable provenance. These are well-established US government programs, that were run through USAID, with decades of documented outcomes, rigorous monitoring, and yes, those Inspectors General that Trump systematically fired to clear the way for DOGE’s rampage.

Musk’s condescending little fable about demanding photos of pandas would be merely insufferable if he were actually talking about pandas. But he’s not. He’s talking about programs where we don’t need to guess whether they work—we have the data. We know how many people received antiretroviral therapy. We know how many children were vaccinated. We know the mortality rates before and after these interventions. The “picture of the panda,” in this case, is six hundred thousand excess deaths since these programs were gutted. There’s your fucking picture, Elon….

The real tragedy here is that Elon Musk gets to sit in a podcast studio and spin cute parables about imaginary panda fraud while actual children die from diseases we know how to prevent. The obscenity of comparing tuberculosis programs and HIV treatment to a hypothetical panda scam is breathtaking, even if it is totally predictable. This is what happens when you let tech billionaires play government efficiency expert: they’re perfectly comfortable with mass death as long as they can frame it as fighting “waste.” Six hundred thousand people—two-thirds of them children—aren’t hypothetical. They’re not pandas. They’re dead.

So no, the question isn’t whether DOGE “still exists” as an organizational chart entry. The question is whether anyone will be held accountable for six hundred thousand deaths and the systematic dismantling of programs that took decades to build…. 


Inside the DOGE Succession Drama Elon Musk Left Behind: What really happened when he logged out of Washington.  

[Politico, via The Big Picture, November 30, 2025]


More chaos at FEMA as agency “re-suspends” employees it just reinstated last week 

[Balanced Weather, via Naked Capitalism 12-04-2025]


Poor Hiring Data Points to US Economic Weakness

Agence France-Presse, Dec. 3, 2025 [via IndustryWeek]

While medium and large establishments added jobs last month, small establishments lost 120,000 jobs, according to ADP.


More Americans are getting their power shut off, as unpaid bills pile up

[Washington Post, via The Big Picture, November 30, 2025]

Nearly 1 in 20 households, or about 14 million Americans, were so behind on utility debt that it was reported to collections agencies or in arrears as of June, according to an analysis by the Century Foundation and Protect Borrowers, a nonprofit that advocates for consumers. Meanwhile, the average overdue balance of $789 has risen 32 percent since 2022.


Trump DOJ Sides With Roundup Manufacturer Over Cancer Victims in Supreme Court Case

Stephen Prager, December 02, 2025 [CommonDreams]


The carnage of mainstream neoliberal economics

The Bank of England is warning a financial crash is coming

Richard Murphy, December 06, 2025 [Funding the Future]

The Bank of England has issued a stark new Financial Stability Report — and beneath the cautious language lies a clear message: the global risk environment has deteriorated sharply. From AI bubble valuations to fragile shadow banking systems, from overstretched credit markets to potential contagion across sovereign debt, a systemic crisis now looks more like “when” than “if”.

In this video, I explain what the Bank is really saying, why markets are repeating 2008 mistakes, and why the UK is deeply exposed.


Investigation Reveals How Amazon Is Fleecing Public Schools With ‘Algorithm-Driven Pricing’

Jake Johnson, December  05, 2025 [CommonDreams]

A detailed investigation released Thursday reveals that the e-commerce behemoth Amazon is using its market dominance and political influence to gain a foothold in local governments’ purchasing systems, locking school districts into contracts that let the corporation drive up prices for pens, sticky notes, and other basic supplies.

The new report by the Institute for Local Self-Reliance (ILSR), titled Turning Public Money Into Amazon’s Profits: The Hidden Cost of Ceding Government Procurement to a Monopoly Gatekeeper, is based on purchasing records from nearly 130 cities representing more than 50 million Americans.

ILSR found that “cities, counties, and school districts spent $2.2 billion with Amazon in 2023—a nearly fourfold increase since 2016.”

“Through its Amazon Business platform, the company has maneuvered to become the default source for office products, classroom materials, cleaning supplies, and other routine goods,” the report states. “Today, it is embedded in most local governments, making inroads into state agencies, and dominating a new program designed to reshape how federal agencies buy commercial products.”

Unlike the fixed pricing that’s typical for government contracts, the agreements that Amazon has secured with local governments across the US entail “algorithm-driven pricing” to “covertly raise prices and inflate costs for governments.”

“The result is dramatic price variation: One city bought a 12-pack of Sharpie markers for $8.99, while a nearby school district paid $28.63 for the identical pack that same day,” ILSR said. “Our data contain thousands of similar examples, with some agencies paying double or even triple what others paid for the same items.”


Health care crisis

Good luck, granny. 

Veronica Riccobene, Dec 4, 2025 [Lever Daily]

Nursing home and hospital industry groups are celebrating after the Trump administration revoked a rule establishing minimum staff requirements at Medicare- and Medicaid-certified long-term care facilities. Blaming a “disproportionate burden” placed on nursing homes, regulators revoked the Biden-era provision after powerful industry groups fought tooth and nail against it, claiming that staff minimums would force facilities to close and jeopardize patients’ access to care.


[X-Twitter, via Naked Capitalism 12-02-2025]

Just 28 days without parabens and phthalates turned off breast-cancer-linked activity in healthy breast cells. Scientists tracked women who had been using everyday personal-care products — the usual shampoos, body washes, moisturisers, makeup — the kinds that often contain parabens and phthalates. These chemicals can act like weak estrogens in the body, and too much estrogen signalling has long been connected to increased breast cancer risk.

Reduction of daily-use parabens and phthalates reverses accumulation of cancer-associated phenotypes within disease-free breast tissue of study subjects

Dairkee SH, Moore DH, Luciani MG, Anderle N, Gerona R, Ky K, Torres SM, Marshall PV, Goodson Iii WH. 2023 May. Chemosphere. 322:138014. doi: 10.1016/j.chemosphere.2023.138014. Epub 2023 Feb 4. PMID: 36746253.

[TW: Trump regime has defunded almost all this kind of research.]


Predatory finance

Take-Down of the Take-Down: The Bankers are Wrong About Interest Rate Caps

Brian Shearer, Dec 04, 2025 [Vanderbilt Policy Accelerator]

Recently the American Bankers’ Association published a purported take-down piece attacking a report I authored in September showing that the bipartisan proposal to cap credit card rates at 10% would save billions of dollars without much downside. There are sleights of hand in this piece that are pretty typical of the banking industry lobbyists’ analysis on rate caps, which they claim are always a bad idea. It followed the four basic tactics in the corporate lobby playbook:

  1. Claim business is too complicated for policymakers to understand, with the goal of making them nervous that they might accidentally break something;

  2. Make it sound like policy proposals supported by long (in this case millennia old) historical precedent are actually radical departures from the norm;

  3. Cite to unrelated studies or data to make sweeping conclusions (and what do you know, it happens to support their clients’ cash cows); and

  4. Use generic Econ 101 principles when they simply don’t apply

Instead of just letting this go as more lobbyist noise, I decided to go through it to debunk the banking lobby’s points paragraph-by-paragraph….

 

Breaking Burry: Totally perverse unnatural massive market distortions: 1, Michael Burry: 0.

[QRT’s Fringe Finance, via The Big Picture, November 29, 2025]

One major headline today is that Michael Burry, of The Big Short fame, is shuttering his fund, Scion Capital. In his letter calling it quits, he wrote: “Sometimes, we see bubbles. Sometimes, there is something to do about it. Sometimes, the only winning move is not to play.” I’ve been around markets long enough to believe that short sellers are generally more objectively right than most investors. 


They’re not capitalists — they’re predatory criminals

Palantir CEO Says Making War Crimes Constitutional Would Be Good for Business 

[Gizmodo, via Naked Capitalism 12-04-2025]


The Construction Industry’s Invisible Villains

DW Gibson, December 1, 2025 [The New Republic]

They’re called labor brokers. They enable contractors to cheat vulnerable workers. And they’re almost impossible to catch. Will anyone do anything to stop them?


Reps. Thomas Massie and Ro Khanna’s months-long campaign to outmaneuver the White House on the Epstein files started with a text. Inside the effort to force Trump’s hand on Epstein. 

[Washington Post, via The Big Picture, November 28, 2025]



Congress’ Leaders Have A Capital Gains Problem

Veronica Riccobene, Dec 4, 2025 [The Lever]

Congressional leaders perform 47 percent better than their peers on the stock market, thanks to their increased legislative influence and access to nonpublic information.


Restoring balance to the economy

A Coffee Giant Gets Roasted

Brock Hrehor, December 06, 2025 [The Lever]

Starbucks Shells Out

In what officials are calling the largest worker protection settlement in New York City’s history, New York City’s Department of Consumer and Worker Protection ordered Starbucks to pay roughly $35 million to more than 15,000 workers for allegedly denying them stable schedules and arbitrarily cutting their hours.

The department began investigating the coffee chain in 2022 after receiving dozens of worker complaints. The agency’s officials reportedly documented more than half a million violations of New York’s Fair Workweek Law, which requires fast food employers to give workers regular schedules that stay the same week to week.

Many Starbucks employees could now receive thousands of dollars under the agreement, which provides $50 for each week they worked from July 2021 through July 2024….

Guaranteed Income, Forever! 

Last week, the Cook County Board of Commissioners in Illinois unanimously approved a permanent basic income program. The move will provide $500 a month to thousands of low-income households, including those in Chicago, the largest city in the Midwest and the third largest in the country.

The county has allocated $7.5 million to the program for 2026, which will come from the county’s “equity fund.” The county will also be able to utilize reserve federal pandemic funds to help finance the program.

The program is an extension of the Cook County Promise Guaranteed Pilot program, which provided $500 in monthly cash payments to 3,250 low- and middle-income households in Cook County for two years. Participants were selected by lottery, and the payments began in December 2022 and continued through December 2024.

Exit surveys show that those funds went toward basic necessities, especially food, rent, utilities, and transportation. Seventy-five percent of residents reported feeling more financially secure thanks to the program, and 94 percent used program funds to help manage a financial emergency….

A Radical Solution To Housing Costs

In an effort to counter rising rents and a growing affordability crisis, Santa Fe, New Mexico, just made history by enacting a first-of-its-kind ordinance that pegs wages to housing costs. Proponents say it could assist working people who have increasingly been squeezed by the rising cost of living in the small, high-desert city.

“The purpose is to make a serious difference in assuring that people who work here can live here,” said Santa Fe Mayor Alan Webber. “Santa Fe’s history and culture is really reflected in the diversity of our people. It’s that diversity that we’re trying to preserve.”

Under the new plan, the city’s hourly minimum wage will increase from $15 to $17.50 in 2027. After that, the city will use a new formula to calculate annual increases based on the Consumer Price Index, which measures inflation as experienced by everyday consumers, and fair market rent data….


New York Now Requires Retailers To Tell You When AI Sets Your Price 

[New York Times, via Naked Capitalism 12-02-2025]


Can New York City Break Wall Street’s Grip?

Ellen Brown, Dec 3, 2025 [Web of Debt, via L A Progressive]

As Albany resists new taxes, NYC’s mayor, Zohran Mamdani, turns to public banking as the path to funding housing, transit, and climate resilience without triggering capital flight….

How North Dakota Escaped the Shutdown

This difference has become particularly evident during the 2025 federal government shut down. While other states suffered SNAP disruptions and budget shortfalls, North Dakota leveraged BND [state owned Bank of North Dakota] funds without waiting for Washington:

BND’s 2024 Performance: A Model for New York City

According to its latest annual report, the BND has over $10.8 billion in assets and more than $200 million in net income, much of it reinvested in agriculture, education, and sustainable development. More than $1 billion was transferred to the state’s general fund and special programs through 2018, most of it in the previous decade. That is a substantial sum for a state with a population that is only about one-tenth that of New York City (780,000 versus 8.3 million). The BND keeps interest payments in-state, funds infrastructure and cushions shocks that would seriously impair other states’ budgets. In October 2024, Truth in Accounting’s annual Financial State of the States report rated North Dakota #1 in fiscal health, with a budget surplus per taxpayer of $55,600….

[In New York City] pension funds alone are a vast reservoir of potential capital — managing nearly $295 billion across five systems as of mid-2025. Scott Baker, Economics Editor at OpEdNews and New York State Coordinator for the Public Banking Institute, observes in a November 2025 article that current pension investments are seriously underperforming after fees. Former New York City Comptroller Scott Stringer produced a report showing that for the 10-year pension period ending in 2015, the New York City pension funds generated zero ROI (return on investment) when he included $2.5 billion in management fees.

In 2024, the city contributed $9.6 billion to the funds, while employees contributed about $2.5 billion. Offset by $2.5 billion in management fees, the total contribution for investment was $9.6 billion, the sum coming from the city….



The missing piece in the affordability debate: Higher paychecks

Heidi Shierholz, December 1, 2025 [Economic Policy Institute]

...Today’s affordability debate, however, focuses almost entirely on prices, as if the only way to make life affordable is to make things cheaper. But that approach misses the bigger picture. Affordability depends on both prices and wages. The roots of today’s affordability crisis actually lie not in recent price spikes, but in the long-term suppression of workers’ pay.

For more than four decades, employers have been actively suppressing the wages of working people, so that corporate managers and owners can claim an ever-larger share of the income generated by what workers produce. Government policies facilitated these efforts….


Creating new economic potential - science and technology

Armed Madhouse – How DARPA Lost Its Mojo

Haig Hovaness, December 2, 2025 [Naked Capitalism]


Disrupting mainstream economics

Why won’t so much of the left believe in the sovereign power to make money?

Richard Murphy, December 01, [Funding the Future]

There are days when I genuinely wonder what parts of the left think the state is for.

The capacity to create money is the most fundamental power any modern government possesses. It is the basis of its authority. But most importantly, money creation is how the resources to pay for the essential fabric of society, whether they be health, education, care, energy, infrastructure, or more, are mobilised. It is the very foundation of democratic economic choice.

And yet, as is apparent from debate here, swathes of the political left refuse to acknowledge this. They deny the reality that the UK government, like every government with its own central bank and free-floating currency, spends by creating new money, and always has. They cling to the fiction that the state must first tax or borrow before it can act.

Why? Let me suggest the reasons.

First, many on the supposed left have internalised neoliberal ideology. They have swallowed whole the myths crafted to constrain democracy: that governments “must live within their means”, that “the markets” decide what is possible, and that public purpose must bend to private confidence. They confuse households, who really do have financial constraints, with the state, which has the legal authority to create the currency we all rely upon.

Second, some on the left reduce everything to class struggle alone. Power, they say, is all that matters. Understanding the plumbing of money is seen as technocratic, and technocracy is the enemy. The irony, of course, is that they grant the finance sector unchallenged power precisely because they won't understand how the system works.

Third, scarcity suits their politics. When money is claimed to be scarce, the left can pose as noble defenders of whatever is available.


Information age dystopia / surveillance state

MIT study finds AI can already replace 11.7% of U.S. workforce 

[CNBC, via Naked Capitalism 12-04-2025]


AI Data Centers Are Making RAM Crushingly Expensive, Which Is Going to Skyrocket the Cost of Laptops, Tablets, and Gaming PCs 

[Futurism, via Naked Capitalism 12-05-2025]


Journalists win a key battle over AI in the newsroom 

[Blood in the Machine, via Naked Capitalism 12-04-2025]


Unpacking the Mechanics of Conduit Debt Financing: Understanding the pass-through financing model behind the AI infrastructure boom.

[This Is Not Investment Advice, via The Big Picture, December 01, 2025]


Collapse of independent news media

The Washington Post Wants to Protect Its Owner From a Wealth Tax

Bob Lord, Dec 03, 2025 [Zeteo]

The editorial board at Jeff Bezos’s newspaper railed against a wealth tax without noting the Amazon founder stands to benefit from its tax policy prescriptions.


Jeff Bezos’s Very Own Editorial Page

Harold Meyerson, December 4, 2025 [The American Prospect]

The Washington Post’s new editorialists have turned the page over to screeds defending not just laissez-faire capitalism but Bezos himself.


Climate and environmental crises

‘Renewable’ No More: The Trump Administration Renames the National Renewable Energy Laboratory

Dan Gearino, December 2, 2025 [Clean Power Roundup]

A key driver of U.S. renewable energy research is now called the National Laboratory of the Rockies.


Democrats' political malpractice

How the Hell Did We Get Here?

Les Leopold, Dec 04, 2025

...The vast majority of Democratic politicians, consultants, operatives, and funders do not see a conflict between capital and labor, between their wealthy corporate donors and working people, or between their own wealth and growing inequality. In their ideological universe there is no class conflict. We’re all in this together, no matter what our wealth, our education, or our level of job insecurity. Runaway inequality may be a concern, but it is not viewed as an existential problem that is ripping our country apart.

Instead, the Democrats who control the party support policies that avoid progressive economic populism. They’re not interested in government forcing corporations to stop needless mass layoffs, raising the minimum wage, breaking up monopolies, facilitating unionization, and guaranteeing jobs for all. These policies are threats to corporate interests and therefore discouraged, no matter what public opinion data shows. You don’t bite the hands that feed your candidacy and, by the way, may provide highly paid jobs for you, your family, and your staff once you leave office.

But none of this is viewed as corruption or a betrayal of the public’s trust. Party leaders really believe that centrist policies will grow the pie for everyone. They cherish the “opportunity society” that gives everyone a fair chance at the American dream. They believe that the capitalist drive for wealth, free of burdensome government controls, will produce the good jobs of the future, and that effective educational policies will prepare working people for them—or at least give their children a shot at success. It’s kumbaya economics, unhinged from recent history and future progressive goals.

We’ve heard all this for more than a generation. This was the justification for deregulating Wall Street: the justification for free trade deals that wiped out millions of industrial jobs; the justification for permitting corporations to lay off workers to pay for leveraged buyouts and stock buybacks while avoiding taxes; and the justification for public-private partnerships that enriched the private partners at taxpayer expense.

Nearly all the members of the Democratic Party establishment, as Bernie so often points out, are wealthy and really have no clue about what working people are experiencing...


David Dayen, December 4, 2025 [The American Prospect]
The New Jersey senator is opposing his own party’s efforts to defang anti-corruption measures. In an interview, he depicted the fight as critical to regaining public trust.

“It’s not comfortable for me to go to the state capitol and have arguments with members of my own political party,” Sen. Kim said in an interview with the Prospect. His adversaries at the hearing made sure of that discomfort. Kim showed up to speak early, trying to fit in testimony before catching a train to Washington for votes Monday night. But the committee made him wait for over five hours, ignoring other speakers who wanted to cede their time to him. One of the few proponents testifying on the bill got 40 minutes to state his views; Kim got three minutes.

When he finally took to the microphone to an ovation, he got quickly to the point: “We live in the time of the greatest amount of distrust in politics in modern American history. And the people want a politics that isn’t some exclusive club for the well-off and the well connected.” How could Democrats credibly fight corruption in Washington if they are simultaneously inviting corruption in Trenton, Kim insisted.

Sen. Beach interrupted. “You have three minutes, please conclude.”

“Sir, I have been here for five and a half hours …” Kim interjected.

“So what?” Beach replied. “Why do you think you’re special? You’re not.” He proceeded to heckle Kim about cherry-picked votes for Trump’s nominees. By the end, every Democrat on the committee supported the bill.


No, Progressives Don’t Want “Purity.” They Just Want Some Courage.

Virginia Heffernan, December 5, 2025 [The New Republic]

When left-leaning Democrats complain about corporate influence, it’s not a “purity test.” It’s a demand for a better politics….

And if the Democratic leadership doesn’t want to watch satire on TikTok to understand their own party, they can at least look at the polls. According to Gallup in September, fully 66 percent of Democrats view socialism, by that name, favorably. Bullishness on socialism is up a whopping 16 points since 2010, Obama’s heyday.

At the same time, per the Gallup poll, only 17 percent of Democrats view big business favorably, while—and this is especially surprising—a mere 36 percent of independents do. Anti-monopoly views are clearly no longer the province only of sullen Occupy alumni. Look at those numbers. The vast majority of the gettable electorate can now be spooked by even a hint that the Democratic Party is ignoring the people in favor of rich or ideological donors, corporate interests, Black Rock, Blackstone, and billionaire PACs….


Conservative / Libertarian / (anti)Republican Drive to Civil War

Trump 2025 National Security Strategy (NSS)

Heather Cox Richardson, December 5, 2025 [Letters from an American]


National Insecurity Strategy: The PayPal-Putin Plan to Break America: How Trump’s 2025 National Security Strategy serves the techno-fascist elite, our foreign adversaries—and great replacement theory.

Jim Stewartson, Dec 05, 2025 [MindWar]


Your Private Data Is Building Trump’s Voter Purge Machine

Abby Vesoulis and Ari Berman, December 5, 2025 [Mother Jones]

... an escalation of a yearslong coordinated effort by conservatives to obtain voter roll data from numerous states, compare it to incomplete datasets they’d found on the commercial market, then attest that mismatches between the two are clear evidence of people illegally voting. The apparent goal: buttressing decadeslong, though still unproven, claims of rampant voter fraud and removing allegedly ineligible voters from the rolls, with potentially dire consequences for future elections.

In the past, these sorts of legal gambits came from right-wing groups like the America First Policy Institute, a Trump-aligned think tank co-founded by Brooke Rollins, now the secretary of agriculture; the Dhillon Law Group, whose founder, Harmeet Dhillon, is now the assistant attorney general for civil rights at the DOJ; and the Public Interest Legal Foundation (PILF), a conservative legal group whose former counsel, Maureen Riordan, now leads the DOJ’s voting section. Riordan and Dhillon remain in the same line of business, citing familiar statutes in their barrage of new lawsuits against state election officials like Bellows; the key difference now is that they are promoting their routinely debunked theories from within the US government. Specifically, from the highest law enforcement agency in the country….



The (anti)Federalist Society assault on the Constitution

A 2-1 Panel of the D.C. Circuit Makes the Presidency More Muscular

Joyce Vance, Dec 05, 2025 [Civil Discourse]

This morning, a panel of the D.C. Circuit that split 2-1 ruled that presidents can remove members of the National Labor Relations Board (NLRB) or Merit Systems Protection Board (MSPB) despite the existence of laws that are intended to shield them from removal without cause. That’s precisely what Donald Trump did. This opinion, with Judges Neomi Rao and Gregory Katsas, both Trump appointees, in the majority, blesses it. This case is too important to get lost in the crush of other news….


Justice Kagan’s Dissent to the Supreme Court’s Approval of Texas Gerrymandering

GREG ABBOTT, ET AL. v. LEAGUE OF UNITED LATINAMERICAN CITIZENS, ET AL.ON APPLICATION FOR STAY [December 4, 2025]

Justice Kagan’s dissent begins on page 4.


Sunday, November 30, 2025

Week-end Wrap – Political Economy – November 30, 2025

Week-end Wrap – Political Economy – November 30, 2025

by Tony Wikrent


Trump not violating any law

'He who saves his Country does not violate any Law'


Trump Stuns By Saying ‘I Don’t Know’ When Asked Directly NBC’s Kristen Welker ‘Don’t You Need to Uphold the Constitution?’

Joe DePaolo, May 4th, 2025 [mediaite.com]


Legal Experts Accuse Hegseth of ‘War Crimes, Murder, or Both’ After New Reporting on Boat Strike Order

Julia Conley, Nov 30, 2025 [CommonDreams]


The Moment to Pick a Side Has Come [Civil Discourse]

Joyce Vance, Nov 30, 2025

...on Black Friday, the Washington Post ran with an exclusive story about the September 2, 2025, attack on a boat allegedly carrying drugs in the Caribbean, the first of a series of attacks that have involved strikes on at least 23 boats to date. The Post reported that in advance of the strike, “Defense Secretary Pete Hegseth gave a spoken directive, according to two people with direct knowledge of the operation. ‘The order was to kill everybody.’”

That’s what the special operations commander overseeing the attack did. After the initial hit, live drone feed showed two survivors clinging to the wreckage. The commander “ordered a second strike to comply with Hegseth’s instructions … The two men were blown apart in the water.” The video Trump released later that day did not include the second strike.

The Post quoted Todd Huntley, a former military lawyer who had advised special operations on the illegality of the order: “Even if the U.S. were at war with the traffickers, an order to kill all the boat’s occupants if they were no longer able to fight ‘would in essence be an order to show no quarter, which would be a war crime.’” ….

There is a price to be paid for confirming a man as the Secretary of Defense who fails to understand the role he is being called upon to serve in, instead, relishing the title “Secretary of War.” Hegseth received a Bachelor of Arts in politics from Princeton in 2003 and a Master of Public Policy from Harvard’s Kennedy School of Government in 2013. He joined the Army National Guard as an infantry officer afterward. Nowhere along the road does he seem to have learned the fundamental lessons any Secretary of Defense should have known: The lesson of the Peleus trial.

In 1944, the captain of the U-boat U-852 sank the Greek steamer Peleus in the South Atlantic. There were 12 survivors, including an officer, who was given assurances they would be rescued the following day by Allied forces. But the U-852’s Kapitänleutnant Heinz Eck suddenly ordered his crew to fire on the 12 survivors and attack them with grenades when machine gun fire didn’t suffice to sink their life rafts.

Eck and four others were subsequently charged with war crimes. The charges were in connection with “the act of firing at the survivors and not the original sinking of the ship.” Eck argued “operational necessity,” claiming the survivors could have rallied and attacked the submarine. But all of the men were convicted.

It’s clear that even in wartime, an attack like the one on September 2 is a crime. If we are not at war—an issue the experts are now hotly debating and that we will track with Ryan Goodman in the morning—it’s quite simply murder….


A CIA trained killer who Trump granted asylum to killed a National Guard member — We need answers!

Dean Obeidallah, Nov 28, 2025


Disappeared to a Foreign Prison

Sarah Stillman, November 24, 2025 [The New Yorker]

...Just months earlier, one of these men had a job with UPS in Chicago. Another had lived in Houston, where he worked for his mother’s catering business, composed R. & B. music, and babysat his little brothers. Some had lived in the U.S. from an early age. Jim, a political refugee, had come to Miami from Liberia in the early nineties, when he was twenty-three, after his parents were murdered for their tribal and political affiliations during the country’s civil war. Others, including a twenty-one-year-old woman who had fled Togo fearing genital mutilation, had arrived in the U.S. recently, seeking asylum.

All of them had been taken from the United States against their will. Nearly all had been granted forms of legal relief that bar the government from deporting them to their home countries. At the heart of the protections they’d received was one of the most basic and sacrosanct concepts in both U.S. and international law: non-refoulement. This principle means that no nation should intentionally deport or expel people to a place where they are likely to face torture, persecution, death, or other grave harms….

Mica Rosenberg, Mario Ariza, McKenzie Funk, Jeff Ernsthausen and Gabriel Sandoval, November 24, 2025 [propublica.org]

Under a zero tolerance policy, the first Trump administration separated immigrant children from their families at the U.S.-Mexico border. New data suggests separations are happening all over the country, often after little more than a traffic stop.


What Pam Bondi and Lindsey Halligan did was not incompetence--It was intentional misconduct. They both must be disbarred.

Dean Obeidallah, Nov 25, 2025


The Feds Want to Make It Illegal to Even Possess an Anarchist Zine 

Seth Stern, November 23 2025 [The Intercept]

Federal prosecutors have filed a new indictment in response to a July 4 noise demonstration outside the Prairieland ICE detention facility in Alvarado, Texas, during which a police officer was shot.

There are numerous problems with the indictment, but perhaps the most glaring is its inclusion of charges against a Dallas artist who wasn’t even at the protest. Daniel “Des” Sanchez is accused of transporting a box that contained “Antifa materials” after the incident, supposedly to conceal evidence against his wife, Maricela Rueda, who was there.

But the boxed materials aren’t Molotov cocktails, pipe bombs, or whatever MAGA officials claim “Antifa” uses to wage its imaginary war on America. As prosecutors laid out in the July criminal complaint that led to the indictment, they were zines and pamphlets. Some contain controversial ideas — one was titled “Insurrectionary Anarchy” — but they’re fully constitutionally protected free speech. The case demonstrates the administration’s intensifying efforts to criminalize left-wing activists after Donald Trump announced in September that he was designating “Antifa” as a “major terrorist organization” — a legal designation that doesn’t exist for domestic groups — following the killing of Charlie Kirk….


U.S. Military Documents Indicate Plans to Keep Troops in Caribbean Through 2028

Sam Biddle, Nick Turse, November 25 2025 [The Intercept]


Strategic Political Economy

The UK is cursed: how finance destroyed our economy [applies to USA also]

Richard Murphy, November 28, 2025 [Funding the Future]

For more than 45 years, the UK has suffered not one, but two economic curses: the resource curse and the finance curse. Both were chosen, primarily by Margaret Thatcher, and both inflated the pound, destroyed industry, and left Britain dependent on hot money and speculation. In this video, I explain how we got here — and what we must do to rebuild a real economy based on work, fair reward and democracy.


The hypocrisy of bankers needs to come to an end

Richard Murphy, November 27, 2025 [Funding the Future]


Democratic Public Finance: A Radical Vision for Mamdani’s New York City

[moneyontheleft.org, via Public Banking Institute, Nov 26, 2025]

Public Banking Institute email:

“Democratic Public Finance: A Radical Vision for Mamdani’s New York City” is a must-read for anyone who believes that our cities can—and should—be financially empowered to serve their people, not Wall Street. The essay reframes how we think about money itself, arguing that it should be treated not as a scarce private commodity but as a public tool for collective prosperity. By redefining money as “public credit,” this vision breaks from the austerity-driven mindset that has long stifled local progress and instead positions finance as a democratic force for housing, jobs, and sustainability.
 
At the heart of this vision is the call for public banking and civic payments infrastructure that would allow New Yorkers to access fair, transparent financial services—free from the extractive practices of private banks. A municipal public bank and “Public Venmo” system would ensure that credit flows directly into community priorities such as affordable housing, small business growth, and green energy, rather than into speculative markets. This isn’t just economic reform—it’s about returning power to the people and ensuring that city wealth circulates locally.


Global power shift

How Resilient is BRICS in the Storm of Geopolitics? – Part 2

Peter Haenseler, 30 November 2025 [sonar21.com]

Today’s second part focuses on the environment in which BRICS must develop as the most important organization in the Global South. We assess the general circumstances of war, the great danger that a nuclear war would constitute, and the unpredictability of the geopolitical situation, which leads us to describe the current situation as a “storm.” ….

Has World War III Already Begun?

How the current geopolitical situation is characterized and described depends on the perspective of the observer. It is fair to say that, from a purely military point of view, World War III is already in full swing. We already made this claim in February 2023 in our article “Sleepwalkers at work: World War III has probably already begun.” The situation regarding Western involvement has become even more pronounced since the article was published. Direct involvement—such as supplying the Ukrainian army with target information with the help of personnel on the ground—is no longer even seriously disputed. Thus, the question of whether World War III has already begun from a military point of view has been answered, even though the Russians are not stating this openly for reasons of de-escalation.

There are other arguments that could be used to justify the start of World War III. First of all, there is the geographical spread of attacks of all kinds. Secondly, the nature of warfare has changed completely. War can be waged not only kinetically, but also on an economic level or as cyberwarfare….


China unveils ‘world’s first’ autonomous drone that can hunt submarines: Report 

[Interesting Engineering, via Naked Capitalism 11-23-2025]


China’s top scientists chart the future of space exploration 

[CGTN, via Naked Capitalism 11-23-2025]


A Looming Mexican Coup?

Kit Klarenberg, Nov 24, 2025 [Global Delinquents]

...Furthermore, former Mexican President Vicente Fox attended the protests, and posted extensively on social media in support of the demonstrators. In 2001, he was bestowed NED’s Annual Democracy Award. Another prominent supporter was oligarch Ricardo Salinas Pliego, Mexico’s third-richest man. In March 2023, in conjunction with the shadowy Atlas Network, he launched Universidad de la Libertad, to “advance free-market principles, business development, and innovation” in the country.

Atlas Network comprises a web of libertarian think tanks, bankrolled by major US corporations, with deep and cohering ties to Western foundations and intelligence cutouts, including NED. The Network itself doles out millions annually “supporting pro-freedom organizations” worldwide. A longtime beneficiary of its largesse is the Venezuela-based Center for the Dissemination of Economic Information (CEDICE), which operated at the forefront of the April 2002 US-orchestrated coup that temporarily ousted elected President Hugo Chávez….


Gaza / Palestine / Israel

German Scientists Count Over 100,000 Palestinians Slaughtered in Gaza

Shaun King, Nov 25, 2025

In the German publication, DIE ZEIT, journalist Christian Endt reports on research from the Max Planck Institute for Demographic Researchi n Rostock. Demographers Ana C. Gómez-Ugarte, Irena Chen, and their colleagues pulled together Gaza Health Ministry data, an independent household survey, and death notices from social media. They used methods that have been peer-reviewed in the journal Population Health Metrics.

Their conclusion: in the first two years of this genocide, between roughly 100,000 and 126,000 people in Gaza have been killed, with a central estimate of 112,069 Palestinians. That’s not propaganda. That’s not a slogan on a protest sign. That’s careful, conservative demographic modeling from one of the most respected research institutes in the world….


UN Report Details Israel’s ‘De Facto State Policy’ of Torturing Palestinian Prisoners

Julia Conley, Nov 29, 2025 [CommonDreams]


Jeffrey Epstein Aided Alan Dershowitz’s Attack on Mearsheimer and Walt’s “Israel Lobby”

Ryan Grim and Murtaza Hussain, Nov 25, 2025 [dropsitenews]
In March 2006, the Harvard Kennedy School published a working paper, “The Israel Lobby and U.S. Foreign Policy,” by influential political scientists John Mearsheimer and Stephen Walt. The paper, which ran in the London Review of Books and became the basis for a book published the following year, was an unflinching analysis of the impact of pro-Israel advocacy and lobbying groups on the U.S. political system, and the role of organizations like the American Israel Public Affairs Committee (AIPAC) in shaping U.S. foreign policy towards the Middle East.

Mearsheimer and Walt described a loose coalition of philanthropists, think tanks, advocacy groups, and Christian Zionist organizations that routinely pulled U.S. policy toward the Middle East away from America’s national interest….

Even before the Kennedy School posted the paper online, the project had already spooked editors at The Atlantic, who originally commissioned the essay in the early 2000s. In an interview with Tucker Carlson earlier this year, Mearsheimer revealed that the editor of The Atlantic offered them a “$10,000 kill fee” if the publication didn’t print the article....

The paper was written by two highly esteemed scholars of international relations; Walt had been serving since 2002 as Academic Dean at Harvard’s Kennedy School, as prestigious an appointment as exists in the field, and Mearsheimer taught at the University of Chicago. But the backlash against it was swift, intense, and unusually public in the world of academia. A wave of news articles described the authors as antisemites, while the Anti-Defamation League weighed in to denounce what they called an “anti-Jewish screed.” The pressure became so intense that the Kennedy School removed its logo from the paper and added a disclaimer distancing the institution from its arguments.

Unknown at the time, Jeffrey Epstein gave feedback on talking points to discredit Mearsheimer and Walt, and used his extensive social network to circulate allegations of anti-semitism against the two scholars. Details of Epstein’s role in the backlash to the “Israel Lobby” paper come from a trove of emails obtained by the non-profit whistleblower organization Distributed Denial of Secrets and provided to Drop Site News….


Oligarchy

Boss preppers

Cory Doctorow, 22 Nov 2025 [Pluralistic]

...In Douglas Rushkoff's 2022 book Survival of the Richest, he describes a surreal "futurism" consulting gig in which a bunch of wealthy investor types asked him to help them figure out how to keep their mercenaries in line after "The Event" (the end of the world):

https://pluralistic.net/2022/09/13/collapse-porn/#collapse-porn

These guys had the idea that what a fallen civilization needed was bosses, you see, but they were self-aware enough to recognize that the people who survived the apocalypse might not recognize their unique genius and simply fall into line. In order to assert their natural role as leaders after the shit hit the fan, these guys would need an army of heavily armed mercenaries. But again, these guys were self-aware enough to recognize that the mercenaries might also fail to recognize their unique fitness to rule and opt instead to slaughter them and raid their hoarded food, ammo and medical supplies.

So they wanted Rushkoff's advice – should they fit the mercs with bomb-collars that were on a dead-man's switch that would go off if the boss croaked? This was such a weird and revealing moment that Rushkoff got a whole book out of exploring the desire of the wealthy to both secede from the rest of us, and keep us all in line….

All of this has been very much on my mind lately because I've been reading Quinn Slobodian's amazing Hayek's Bastards, a closely researched history of the merger of the neoliberal wing of the conservative movement with its white nationalist faction, producing a conservativism obsessed with "hard borders, hard-wired human difference, and hard money":

https://www.penguin.co.uk/books/472194/hayeks-bastards-by-slobodian-quinn/9780241774984

It's a revelatory history, one that argues convincingly that the brooding, violent racism of MAGA isn't so much a break with "Romney conservativism" of the "respectable" Republican Party as it is the attainment of the goals of the party's longstanding dominant tendency….


Monopoly Round-Up: Why the Establishment Freaked Out Over a Mamdani-Trump Press Conference

Matt Stoller, Nov 24, 2025

The big news of the week is a change in the political establishment, based on two events. The first is the public exile of economist Larry Summers from polite society over his ties to notorious sex trafficker Jeff Epstein, the second is a surprising joint press conference of President Donald Trump and incoming New York City mayor, democratic socialist Zohran Mamdani.

Let’s start with Summers. As I noted last week, the powerful economist has been heavily involved in nearly every major economic policy decision since the Clinton Presidency, from the Mexican Peso Crisis in early 1990s to NAFTA and U.S.-Chinese trade liberalization, to deregulating derivatives to repealing Glass-Steagall to the bailout out of the banks after 2008 to the Biden economic framework. Of late, he was a foe of Lina Khan and anti-monopolists.

But his track record of poor statecraft is not why he has fallen from grace. What caused him to be ousted was that he embarrassed too many people by being such a pig for so long. So after emails came out showing a close relationship with Summers and Epstein, the word went out, Summers is persona non grata. Last week, he stepped down from his board position at OpenAI, as well as his positions at Bloomberg News, The New York Times, the Brookings Institution’s Hamilton Project, the Center for American Progress, the Peterson Institute for International Economics and the Yale Budget Lab. He is also under investigation by Harvard, where he is a University Professor.

There’s an attempt, in this fiasco, to pretend that Summers is a genius who was otherwise brought down by ego… In this narrative, his relationship with Epstein is an anomaly, a weakness of an otherwise great man.

I don’t think this narrative makes sense. When Larry Summers started his career, in the early 1980s, America was rich, confident and powerful, and the U.S. establishment had influence, wealth, and prestige. After listening to Summers for forty years, the U.S. establishment is enfeebled, disliked and regularly mocked, in no small part because they did listen to him…. 

Even the narrative of ‘brilliant man brought low by personal weakness’ is itself part of the problem. Anand Giridharadas has an excellent rundown of how this episode shows just how corrupt the elite world really is, and why they are rightfully despised….

… both Trump and Mamdani defeated the establishment in their own way, representing the hunger of voters on the right and left who want something different. If those sides could come together, well, that would be a sea change in how we organize our political economy. It’s not going to happen now. But Trump and Mamdani just gave us a very modest hint of what that might one day look like.

And that is why there was so much establishment gnashing of teeth over a simple set of images, it throws in their face their own failures to retain the respect of the American people….


How the Elite Behave When No One Is Watching: Inside the Epstein Emails

Anand Giridharadas, Nov. 23, 2025 [New York Times]

As journalists comb through the Epstein emails, surfacing the name of one fawning luminary after another, there is a collective whisper of “How could they?” How could such eminent people, belonging to such prestigious institutions, succumb to this?

A close read of the thousands of messages makes it less surprising. When Jeffrey Epstein, a financier turned convicted sex offender, needed friends to rehabilitate him, he knew where to turn: a power elite practiced at disregarding pain.

At the dark heart of this story is a sex criminal and his victims — and his enmeshment with President Trump. But it is also a tale about a powerful social network in which some, depending on what they knew, were perhaps able to look away because they had learned to look away from so much other abuse and suffering: the financial meltdowns some in the network helped trigger, the misbegotten wars some in the network pushed, the overdose crisis some of them enabled, the monopolies they defended, the inequality they turbocharged, the housing crisis they milked, the technologies they failed to protect people against….


New “Who Owns America” Report Maps Corporate Ownership of Residential Land  

[Lincoln Institute of Land Policy, via Naked Capitalism 11-27-2025]

A new report from the Lincoln Institute of Land Policy and the Center for Geospatial Solutions (CGS) reveals where corporations have gained a significant foothold in residential real estate across the United States. The analysis of corporate ownership of residential land finds that corporations now own 8.9 percent of residential parcels in 500 counties across the US. While this national share stands at roughly 1 in 11 parcels, corporate ownership exceeds 20 percent in communities including St. Louis, Missouri, Harrisonburg, Virginia, and Franklin County, Ohio, illustrating deeply uneven impacts across the country….


Felonomics

The Rent Is Too Damn High: Did Trump Just 'Bless' Using AI to Jack Up Rents?

Matt Stoller, Nov 25, 2025 [BIG]

Trump Antitrust chief Gail Slater ended the DOJ's big antitrust case against alleged software rent-fixing conspirator RealPage. The company's lawyer says the DOJ has now 'blessed' their product.


The carnage of mainstream neoliberal economics

Part 1: My Life Is a Lie 

Michael Green, via Naked Capitalism 11-25-2025] YS A must read. 

...This week, while trying to understand why the American middle class feels poorer each year despite healthy GDP growth and low unemployment, I came across a sentence buried in a research paper:

“The U.S. poverty line is calculated as three times the cost of a minimum food diet in 1963, adjusted for inflation.” ….

The formula was developed by Mollie Orshansky, an economist at the Social Security Administration. In 1963, she observed that families spent roughly one-third of their income on groceries. Since pricing data was hard to come by for many items, e.g. housing, if you could calculate a minimum adequate food budget at the grocery store, you could multiply by three and establish a poverty line….

Orshansky’s food-times-three formula was crude, but as a crisis threshold—a measure of “too little”—it roughly corresponded to reality. A family spending one-third of its income on food would spend the other two-thirds on everything else, and those proportions more or less worked. Below that line, you were in genuine crisis. Above it, you had a fighting chance.

But everything changed between 1963 and 2024.

Housing costs exploded. Healthcare became the largest household expense for many families. Employer coverage shrank while deductibles grew. Childcare became a market, and that market became ruinously expensive. College went from affordable to crippling. Transportation costs rose as cities sprawled and public transit withered under government neglect.

The labor model shifted. A second income became mandatory to maintain the standard of living that one income formerly provided. But a second income meant childcare became mandatory, which meant two cars became mandatory. Or maybe you’d simply be “asking for a lot generationally speaking” because living near your parents helps to defray those childcare costs.

The composition of household spending transformed completely. In 2024, food-at-home is no longer 33% of household spending. For most families, it’s 5 to 7 percent.

Housing now consumes 35 to 45 percent. Healthcare takes 15 to 25 percent. Childcare, for families with young children, can eat 20 to 40 percent.

If you keep Orshansky’s logic—if you maintain her principle that poverty could be defined by the inverse of food’s budget share—but update the food share to reflect today’s reality, the multiplier is no longer three.

It becomes sixteen.

Which means if you measured income inadequacy today the way Orshansky measured it in 1963, the threshold for a family of four wouldn’t be $31,200.

It would be somewhere between $130,000 and $150,000….


It Works, If You Work It.

America’s Undoing, via Naked Capitalism 11-25-2025] YS Yes a second must read, trust me.

Trump owns the economy now. Voters just told him they’re still broke and they’re blaming him for it.

But here’s what matters more than any election. From Tennessee to New York, voters are asking the same question. Why can’t I afford to live well?

This is why Trump won twice. Why we elected Barack Hussein Obama promising hope and change, twice. Obama’s efforts were too little too late, and that led us to the Obama/Trump voters. We kept looking for hope and change in increasingly desperate places. Like an addict searching for our next fix, Americans are going to more and more dangerous places out of sheer desperation.

The reason is simple, and I can prove it with elementary school math. When experts claim today’s income can buy 252% more than our grandparents earned in 1950, and your life tells a different story, something’s wrong. By my math, we can’t buy 252% more of the essentials. We can afford 61% less….

Over the past two weeks, I showed you how Wall Street and the politicians rigged the economy and how the government hid it. Reagan legalized stock buybacks in 1982 and turned corporations into ATMs for executives. Wall Street privatized the technology we paid to invent. The Boskin Commission in 1995 embedded statistical tricks that make inflation disappear on paper while it crushes us in reality.

Now let me show you what it actually cost us. How does this impact our lives? Not in abstract economic terms. In the most concrete measurement there is. How much of our lives we have to trade just to survive….


[X, via Naked Capitalism 11-25-2025]

1. Aging populations do not consume capital - they crystallize it.

People over 70 rarely take risk, rarely rotate into high-beta assets, and almost never sell unless forced.Their equity holdings behave like dark matter - invisible, immobile mass that dictates the entire gravitational field.

2. When 38.9% of all household equities are held by people 70+, the market stops being a price discovery machine and becomes a liquidity preservation machine.That’s why corrections keep getting rescued.That’s why the Fed panics at every tightening cycle.That’s why volatility gets mechanically suppressed.You’re watching macro bend to the survival needs of a generation that refuses to sell….

5. You are staring at the structural reason the Fed can never meaningfully tighten again.If asset prices fall 30%, the people holding 40% of all equities are the exact people who vote most consistently, donate most reliably, and age-dependent systems crumble catastrophically.The Fed doesn’t protect markets.The Fed protects the demographic that is the market.6. The younger generations are not falling behind because they’re lazy.They’re falling behind because they are trapped in a liquidity regime built to keep Boomers solvent.

Every policy choice for 30+ years has been designed around:

•Asset inflation

•Pension stability

•Retirement portfolio growth

•Housing scarcity•Low yields

•High valuations

This is the architecture of the modern economy.


Ahead of Black Friday, Report Reveals Attacks on Garment Workers’ Right to Organize

Julia Conley, Nov 27, 2025 [CommonDreams]

With clothing companies that will be offering discounted Black Friday deals this week relying heavily on the labor of tens of millions underpaid and overworked garment workers across the Global South, two reports by the human rights group Amnesty International make the case that ensuring these employees are afforded the right to organize their workplaces is key to ending worker exploitation across the fashion industry.

The organization interviewed 64 garment workers in Bangladesh, Sri Lanka, India, and Pakistan from 2023-24, including 12 union organizers and labor rights activists, for its report titled Stitched Up, about the denial of freedom of association for workers in the four countries….


U.S. Dams, Levees, Stormwater, and Wastewater Systems Get D To D+ Grades, Need Almost $1 Trillion in Upgrades

Yves Smith, November 26, 2025 [Naked Capitalism]

“America’s infrastructure is the foundation on which our national economy, global competitiveness, and quality of life depend,” begins the 2025 Report Card for America’s Infrastructure from the American Society of Civil Engineers, or ASCE, a trade group.

The report, issued once every four years, gave America’s infrastructure an overall grade of C, up from a C- grade in its 2021 report. ASCE credited the improvement to the Bipartisan Infrastructure Law of 2021, plus federal partnerships with state and local governments and the private sector.

But dams, levees, stormwater, and wastewater infrastructure components received D to D+ grades. That’s concerning given that climate change is increasingly stressing dams, levees, wastewater, and stormwater systems through heavier precipitation events. What’s more, the federal government has shown little interest in sustaining the funding needed to continue improving infrastructure.


Predatory finance

Economic questions: the Eugene Fama question

Richard Murphy, November 25, 2025 [Funding the Future]

Nobel Laureate Eugene Fama's so-called Efficient Market Hypothesis (EMH) is one of the most influential ideas in modern finance. It claims that markets instantly incorporate all available information and therefore price assets correctly at all times. According to Fama, there are no mispricings to exploit, no bubbles to inflate, no systemic distortions that experts can foresee. Markets, in this view, are not just efficient; they are omniscient.

The elegance of the theory gave it enormous power. It justified deregulation. It encouraged the rise of passive investment. It offered intellectual armour to those who believed markets should be left alone, and it helped entrench the worldview that finance requires liberation, not scrutiny.

But EMH has been tested repeatedly — and reality has failed to conform. The 2008 crash should have buried it. Instead, it continues to define the architecture of global finance.

Hence, the Eugene Fama Question: If the theory that financial markets are perfectly rational collapses every time reality intrudes, why do we still allow it to shape the policies, products and institutions that govern our economic lives? ….

A theory refuted by the world it claims to explain

The history of financial markets is a record of everything EMH says should not happen:

  • Bubbles
  • Panics
  • Herd behaviour
  • Irrational exuberance
  • Crashes triggered by rumour and fear
  • Markets that inflate asset prices far beyond any plausible value….

EMH as the intellectual foundation of deregulation

Fama's theory became the perfect justification for dismantling controls on finance. If markets are assumed to be rational, then regulation is seen as a distortion to be eliminated. If prices encode all information, then fraud is self-correcting. If bubbles do not exist, oversight is unnecessary.

From the 1980s onward, EMH provided the academic muscle behind:

  • The repeal of the Glass–Steagall Act
  • The growth of shadow banking
  • The expansion of derivatives markets
  • The ideology of “self-regulating markets”
  • And the belief that financial innovation always improves welfare….

What answering the Eugene Fama Question would require

To take the failures of EMH seriously and to rebuild financial systems that serve society rather than destabilise it would require:

  • Recognising markets as social institutions, rather than as natural phenomena, and that they are shaped by law, power, incentives, information asymmetry and manipulation.
  • Embedding regulation in the reality of human behaviour, including uncertainty, panic, herd dynamics, fraud and short-termism.
  • Reasserting public oversight because the claim that markets self-correct has been disproven at catastrophic cost.
  • Redesigning investment systems to prioritise long-term social value, not speculative churn.
  • Replacing the mythology of perfect information with the truth of radical uncertainty.
  • Building financial architecture around resilience, and not supposed efficiency, building in redundancy, buffers, and limits on leverage.

These reforms would not stifle markets. They would, however, make markets safe for everyone else, and not just for those who profit from their volatility….


Economic questions: the John Christensen question

Richard Murphy, November 24, 2025 [Funding the Future]

John Christensen has spent decades illuminating what the world of mainstream economics, for far too long, preferred not to see: that the global financial system operates through an architecture of secrecy designed to free the wealthy from the obligations that bind everyone else. As co-founder of the Tax Justice Network, Christensen mapped the offshore world not as a scattering of exotic anomalies, but as a coherent system — a network of secrecy jurisdictions, trusts, shell companies, nominee directors and permissive regulators bound together by one purpose: to hide wealth from accountability.

His work exposed how these structures distort markets, undermine states, and erode democratic power. For Christensen, the offshore world is not a side-show; it is the operating system of modern capitalism. And because secrecy enables the rich to opt out of obligations to the societies that sustain them, it fuels a downward pressure on standards — a global race to the bottom in which governments are pitted against each other for the favour of those who can move their money, but not their responsibilities.

Hence the John Christensen Question: If the wealthiest actors in the global economy can hide their money from scrutiny and responsibility, how can the race to the bottom be avoided and democracy survive the power that secrecy creates?


It’s a Racket! Cryptocurrency has largely managed to remain free of government regulation, and as a result has often become a vehicle for fraud and criminality.

Jed S. Rakoff, December 18, 2025 issue [The New York Review]]

Jed S. Rakoff is a United States District Judge for the Southern District of New York.


Private equity moves into clinical trials 

[Private Equity Stakeholder Project, via Naked Capitalism 11-28-2025]


Investors are making a killing from soaring house prices 

[Red Flag, via Naked Capitalism 11-28-2025]


They’re not capitalists — they’re predatory criminals

The intel scandal behind Prince Andrew’s twisted Epstein exploits 

[The Grayzone, via Naked Capitalism 11-23-2025]

Sally Jo Haxby
November 25 at 7:32 PM
·
Just when we think it can not get worse:
Stars & Stripes Scoop
November 19 at 4:04 AM
·
Thought the video was gone? Oops!


BREAKING: The banned 1994 video of Trump’s 13-year-old accuser Katie Johnson just ripped its way back onto the internet at the worst possible moment for him—and what she whispers will freeze your soul.

A terrified teenage girl stares dead into the lens, claiming Donald Trump assaulted her because she “looked exactly like Ivanka at that age,” while Jeffrey Epstein seethed with jealousy that Trump took her virginity first. This gut-wrenching testimony vanished years ago, scrubbed from existence—until tonight, when it detonated online just as the sealed Epstein files begin to crack wide open. Republican leaders are in full panic as Rep. Thomas Massie delivers a chilling ultimatum: shield Trump now and by 2030 you’ll be remembered as the politicians who protected pedophiles. The empire that once seemed untouchable is suddenly trembling, haunted by a child’s voice rising from the grave of buried secrets. This is the moment the myth dies—watch the forbidden footage everyone fought to silence before it’s erased forever.


Dougald Lamont, Nov 24, 2025



Michel de Cryptadamus, Nov 18, 2025 [via Dougald Lamont]


    

The "Ruemmler Proposal": Did Top Goldman Lawyer (& Former White House Counsel) - Craft Word-for-Word WAPO Spin for Epstein?

Dougald Lamont, Nov 27, 2025

Ruemmler - known as "the Honey Badger" prosecuted Enron, Worked in both the Clinton & Obama White Houses, was floated as a Supreme Court Nominee and is Goldman Sachs' top lawyer.


Africa loses over $50bn yearly to illicit financial flows – Dr. Aliyu 

[APA News, via Naked Capitalism 11-23-2025]


Restoring balance to the economy

Enshittification Nation — Author and activist Cory Doctorow has a grand unifying theory of why everything sucks now — and how to fix it.

David Sirota, Ariella Markowitz, Nov 25, 2025 [The Lever]

From flying to online shopping to using social media, everything seems to be getting worse. It’s all — pardon our language here — shittier.

According to today’s Lever Time guest, that’s no accident. Cory Doctorow is the author of Enshittification: Why Everything Suddenly Got Worse and What to Do About It. In this episode, Doctorow explains how enshittification works, how it’s infected our online spaces, and what we can do to stop it.


The Wrist-Slappers Strike Again — A settlement with algorithmic collusion facilitator RealPage allows it to keep allegedly ill-gotten profits and continue innovating to raise rents.

David Dayen, November 26, 2025 [The American Prospect]

...The disappointing result reflects something this country has struggled with for decades: a lack of courage to sanction the powerful. This is not limited to law enforcement. Last week, federal district court judge James Boasberg, who spent five years mostly delaying a monopoly case against Meta, decided that the company is not a social networking monopoly, because circumstances changed in the time between its acquisitions of competitors and his ruling. It’s hard not to see collusion between timid attorneys and timid judges to let big corporations run over anything in their path.

But as this old mindset continues to stumble the country into oligarchy, a new mindset is asserting itself. While progress never proceeds in a straight line, there’s at least some hope that the future doesn’t have to be like the past….

...When Lina Khan and Jonathan Kanter took over the federal antitrust agencies, they approached the potential harms of market power differently. And though they no longer sit in those agencies, that spirit has not been snuffed out. It exists in law schools, among young lawyers, and at the state level. State attorneys general who had joined the DOJ’s RealPage case did not join the DOJ’s settlement, and can continue to litigate if they choose. I’d expect them, particularly the AGs in Arizona and the District of Columbia who filed cases separately from DOJ, to keep pursuing justice.

In a separate hearing last week, state attorneys general won the right to attempt to block an Antitrust Division settlement in the Hewlett Packard Enterprise–Juniper Networks merger challenge, something I’ve written about extensively. The Tunney Act allows a judge to hold proceedings on whether antitrust settlements are in the public interest, to prevent the very kind of pay-to-play, lobbyist-fueled corruption we saw in that case. (A Tunney Act proceeding is available in the RealPage settlement, too.)….


Disrupting mainstream economics

Distribution Matters: Flawed Welfare Foundations in Classic Free Trade Arguments

Mark Glick and Gabriel Lozada, Oct 27, 2025 [Institute for New Economic Thinking]

The argument that free trade is always the correct policy is based on a flawed welfare analysis. Free trade results in winners and losers and economists are not competent to analyze the impact on well-being as a whole or the spillover social consequences of the discontent of the losers….

[TW: An example of “spillover social consequences” — nothing to do with trade — but certainly overlooked by mainstream neoliberal and classical economists: ]

Mercenaries in America — A private army with a prison apparatus is a threat to us all.

Donald Cohen, November 14, 2025 [In the Public Interest]


MMT in the NYT

Cory Doctorow, 10 June 2020 [Pluralistic]

...here's the shortest possible summary I can give:

Money issuers (sovereign states) have a different relationship to money and debt than money users (everyone else: people, companies, local governments).

Governments don't spend our taxes. Governments spend new money into existence and tax some of it back out of existence. Governments get new money from the same place Starbucks gets new gift-card codes: by typing entries into spreadsheets.

Governments aren't "monetarily constrained." If something is for sale in a currency the government prints, it can buy it. Governments are constrained by resources – that is, which things are for sale in its currency: labor, resources, manufacturing capacity….


MMT and the quantity theory of money

Richard Murphy, November 29, 2025 [Funding the Future]

Time and again, I am being told at present that money creation — which is what Modern Monetary Theory (MMT) quite correctly says happens every time the government spends money — must always lead to inflation .… The logic behind this claim is based on the so-called "quantity theory of money", promoted by someone who might be considered one of the earliest neoliberal economists, Irving Fisher, who was writing more than a century ago, and who might fairly be called the godfather, if not the founder, of monetarism.

The problem with Fisher's claim is that, like a great deal else within neoclassical and neoliberal economics, what it suggests is wrong. To explain this, I have added the following entry into the glossary associated with this blog, in the hope that this explains why the claims made about Modern Monetary Theory are incorrect….


Is MMT as dangerous as its opponents claim?

Richard Murphy, November 28, 2025 [Funding the Future]

That line, or something very close to it, is now appearing with weary regularity from left-wing economists and commentators James Meadway, Grace Blakeley, and Paul Mason, and the circle of commentators around Novara Media….


Why is so much of the left economically incompetent?

Richard Murphy, November 25, 2025 [Funding the Future]

LabourList published an article last week under the headline Bond markets explained: How in hock are we – and can we break free?

The article began with a question that should trouble anyone who cares about democracy: Who governs Britain?

The suggestion made was that the bond markets have become so powerful that even elected politicians must now fear their displeasure….

They then set out to explain this supposed power. But in doing so, they simply reinforced the neoliberal, antisocial economic mythology that has crippled progressive politics for more than a generation. And this matters, because if the Left continues to accept the framing of market power, it will continue to fail the very people it supposedly exists to serve.

To examine this, I summarised the article's core arguments. They are that:

  • Markets discipline governments
  • Market credibility/trust matters
  • Debt/GDP and sustainability matter
  • Growth is key to fiscal health
  • Financial markets price risk objectively
  • State intervention should be modest/cautious
  • Government must compete in market terms

The trouble is that these are all neoliberal/antisocial to their core….


Information age dystopia / surveillance state

Thanksgiving Dinner Headed for Tragedy as Disastrous AI Recipes Devour Internet 

[Futurism, via Naked Capitalism 11-26-2025]

Food bloggers and recipe developers are warning home cooks to be wary of AI-generated recipes that could turn this year’s Thanksgiving dinner into a tragedy.

As Bloomberg reports, they’ve watched in horror as AI slop has made searching for a reliable recipe on sites like Google, Facebook, and Pinterest a potential minefield.

The publication spoke with 22 independent food creators, who said that “recipe slop” is damaging their businesses — while misleading consumers into cooking up monstrous and often inedible dishes.

It’s a sad state of affairs, once again highlighting how AI slop is choking out reliable information on the internet — while simultaneously undermining the livelihoods of those whose content is being overwhelmed by competing AI slop.


Google steers Americans looking for health care into "junk insurance"

Cory Doctorow, 25 Nov 2025 [Pluralistic]

...Google is sending people searching for health care plans to "junk insurance" that take your money and then pretty much just let you die:

https://pluralistic.net/junk-insurance

"Junk insurance" is a health insurance plan that is designed as a short-term plan that you might use for a couple of days or a week or two, say, if you experience a gap in coverage as you move between two jobs. These plans can exclude coverage for pre-existing conditions and typically exclude niceties like emergency room visits and hospitalization:

https://www.brookings.edu/wp-content/uploads/2020/07/Broader-View_July_2020.pdf

Crucially, these plans do not comply with the Affordable Care Act, which requires comprehensive coverage, and bans exclusions for pre-existing conditions. These plans only exist because of loopholes in the ACA, designed for very small-scale employers or temporary coverage.

The one thing junk insurance does not skimp on is sales and marketing. These plans outbid the rest of the market when it comes to buying Google search ads, meaning that anyone who uses Google to research health insurance will be inundated with ads for these shitty plans. The plans also spend a fortune on "search engine optimization" – basically, gaming the Google algorithm – so that the non-ad Google results for health insurance are also saturated with these garbage plans….


Executive Order Provides For Bailout Of Overextended AI Companies 

[Moon of Alabama, via Naked Capitalism 11-26-2025]


What’s Driving the Electricity Price Hike and What Can We Do About It?

Richard Heinberg, Nov 29, 2025 [Common Dreams]

Across the US, electricity prices are rising more than twice as fast as the overall cost of living. The main driver of costs is the enormous electricity demand of over 1,000 new data centers, built mostly for artificial intelligence (AI) applications. Each data center, depending on its size, requires anywhere from a few kilowatts up to 100 megawatts of power (enough to power a medium-sized city). Installations of new data centers are growing at more than 10% annually; at that rate, the total number of data centers will double in less than seven years. Indeed, the International Energy Agency expects global electricity demand from data centers to double by the end of this decade, when it will total more than the entire electricity demand of Japan.


Hello Barbie Security: Part 1 - Teardown

[somersetrecon.com, via Cory Doctorow, Pluralistic, 24 Nov 2025]

Mattel, with the help of San Francisco startup ToyTalk, recently released an Internet of Things (IoT) enabled Barbie doll that children can talk to, responding with over “8,000 lines of recorded content." To produce all of this content it relies on a constant connection to the internet.

Utilizing a user’s home Wi-Fi network, it sends audio recordings to ToyTalk’s servers for analysis and to generate a response. Every audio clip is stored in the cloud where parents can later review and share them online. This data being mined and used for marketing purposes is a big privacy concern, but so is the possibility of this data or the device itself being susceptible to hackers. However, Mattel assures users that they are “committed to safety and security”and that the doll “conforms to applicable government standards”. The release of the doll has already stirred up some controversy on the internet, but until now it has all been speculation.

As security researchers we thought it prudent to explore whether or not Mattel was able to achieve the level of privacy and security that they claim. If they did, then how? And if not, what implications are there for future devices? The first step was to disassemble the doll and identify the chips that might allow us to analyze the doll’s firmware….

PHOTO — the chip board hidden inside the “Hello Barbie” doll


The precedent is Flint’: How Oregon’s data center boom is supercharging a water crisis 

[Food & Environment Reporting Network, via Naked Capitalism 11-26-2025]


Collapse of independent news media

You Don’t Hate The Mass Media Enough 

Caitline Johnstone [via Naked Capitalism 11-24-2025]


Climate and environmental crises

Antarctica’s Fastest Glacier Collapse on Record Alarms Scientists 

[SciTech Daily, via Naked Capitalism 11-23-2025]


The world lost the climate gamble. Now it faces a dangerous new reality 

[The Conversation, via Naked Capitalism 11-23-2025]


Africa’s forests transformed from carbon sink to carbon source, study finds 

[Guardian, via Naked Capitalism 11-29-2025]


The deepest parts of the Arctic Ocean are warming now too 

[Barents Observer, via Naked Capitalism 11-29-2025]


The Thing with Rivers 

[Dublin Review of Books, via Naked Capitalism 11-28-2025]


Violent conflict over water hit a record last year 

[Los Angeles Times, via Naked Capitalism 11-29-2025]


Coal Ship Turns Back After Protesters Block Shipping Channel at Major Australian Port

Reuters, November 29, 2025 [via gCaptain]


Democrats' political malpractice

Democrats caving on health care is worse than you think 

Stephen Semler, via Naked Capitalism 11-26-2025]


Hakeem Jeffries Is Practically an AIPAC Employee, But Lies About the Millions He Gets From Them

Shaun King, Nov 26, 2025

On WNYC he pretended they give him $10,000. In reality, they’ve been flooding his campaign with earmarked cash….

The journalists David Moore and Donald Shaw at Sludge went and did what too few people bother to do: they followed the receipts.

Here’s what their investigation shows:

  • AIPAC’s PAC has earmarked more than $1 million for Jeffries’ campaign committee since February 2022 — the vast majority in the 2024 cycle.

  • On top of that, hundreds of thousands more have been steered into his joint fundraising committees.

  • Over his career, according to OpenSecrets, AIPAC’s PAC has been his top contributor by a factor of three, raising over $900,000 for him even before this latest flood.

So when Jeffries goes on the radio and says, “AIPAC can only give $5,000 or $10,000 per cycle,” he’s technically referring to one little pool inside AIPAC’s PAC — the small part they give directly as a traditional PAC contribution.

What he very carefully does not talk about is the conduit operation that AIPAC has built around him.

How AIPAC Launders Influence Through “Conduit” Donations

Here’s how this scam works, in plain language….


Resistance

Trump’s Washington Is Ghosting States and Cities — It’s time for state and local governments to think outside the box about how to respond. Here are some ideas that are already helping and some that could.

Philip Rocco, Jay Rickabaugh, and Jen Nelles, November 27, 2025 [Washington Monthly]

...As researchers studying American federalism andintergovernmental relations, we believe there is a better way forward for states and local governments. While there is no reason to let the feds off the hook, governors and mayors can build partnerships to provide mutual aid and penalize the federal government for shirking its commitments.  

Already, state and local authorities are innovating and experimenting, developing new playbooks to stand up for their constituents. LA County’s Board of Supervisors declared a local emergency due to ICE activity, allowing it to seek state funding to help families and businesses in neighborhoods affected by raids. Delaware’s governor has used the same tactic to redirect state funds to fill the SNAP gap. In the Washington Monthly, Markos Kounalakis recently recommended that California, where he is Second Gentleman, try to join the G-7, the COP 30 climate summit, and other fora where the world’s fourth-largest economy could reestablish American leadership.

Meanwhile, the gutting of many federal agencies has left states searching for new ways to deliver crucial services. Several states have united to fill the void left by a depleted CDC, such as the Northeast Public Health Collaborative and the West Coast Health Alliance. Legal scholars like Aziz Huq and Zachary Clopton have also catalogued numerous ways states might collaborate, from a mutual aid pact to allow for interstate borrowing to regional weather services to compensate for dramatic cuts at the National Weather Service (NWS) and the National Oceanic and Atmospheric Administration (NOAA)….

  

Conservative / Libertarian / (anti)Republican Drive to Civil War

5 Examples of How Language Shapes What We See — How Word Choice Has Been Used to Divide, Mislead, and Erase the Truth

Sharon Kyle, Nov 27, 2025 [LA Progressive]

...What stopped me cold was how the commentator described a young African girl being taken into slavery. She said the girl had been “captured.” ….

What disturbed me most was that a modern, educated person in 2018 could casually describe the violent seizing of another human being, a child really, as being “captured” — a verb we reserve for fugitives, enemy soldiers, or wild animals. That word didn’t “slip out” because the commentator lacked knowledge. It flowed because centuries of ideology have trained us to hear the kidnapping of African people as something other than a moral crime -- as something that doesn't deserve empathy and certainly doesn't require recompense.

She would never describe the Lindbergh baby as having been “captured.”
She would never say a kidnapped white child was “captured.”
The word would sound monstrous in that context.

But applied to Africans? It rolled off her tongue without hesitation.

That was what made my stomach turn — not the historical content, but the fact that someone todayin the 21st century, still echos the worldview of enslavers without even stuttering. That one word, and truth be told, so many others, exposes how deeply the old hierarchy still lives in our language, our minds, and our unexamined assumptions….


Melissa Gira Grant, November 26, 2025 [The New Republic]
When the couple made the decision to leave the United States, they left behind their still-new home in Savannah, Georgia. Living in this “blue spot in a red state,” they told me, after living “in the red area of a blue state,” in eastern Washington, “gave me some of the awareness that nowhere is safe.” Goulet had been a board member of the region’s Planned Parenthood affiliate, joining not long after a health center in Pullman, Washington, was firebombed. In 2018, Goulet and their 15-year-old son had the unsettling experience of attending a March for Our Lives event while far-right group Patriot Prayer tried to hold a rally in the same location. Goulet ran for the Washington state legislature as a Democrat in 2016, 2018, and 2020, and ended up at the same tables as far-right state Representative Matt Shea, who at the time was planning a Christian nationalist homeland, following a “biblical” civil war. “I was raised in an evangelical church and went to evangelical private schools,” Goulet said. “I’m not a stranger to what they want and what they are willing to do.”

As time went on and the far right gained traction, the family discussed vague plans to leave the United States. Finally, on the night when a man broke into House Speaker Nancy Pelosi’s home and violently assaulted her husband, they knew it was time.


The (anti)Federalist Society assault on the Constitution

Corporations Say It’s Their First Amendment Right To Hide

Veronica Riccobene, Katherine Li, Nov. 24, 2025 [The Lever]

Powerful business lobbyists are asking the U.S. Supreme Court to use the First Amendment to block California from requiring corporations to publish their emissions data.

Pro-industry trade groups and their lawyers argue that new transparency and disclosure requirements violate businesses’ free speech rights….


Tech Giant Says AI Has A First Amendment Right To Raise Your Rent

David Sirota, Nov 26, 2025 [The Lever]

Days after ExxonMobil began pressing the Supreme Court to give corporations a First Amendment right to hide pollution, tech giant RealPage has now filed a federal lawsuit asserting that artificial intelligence companies have the same constitutional right to help landlords collude to raise rents.

RealPage’s case, filed Wednesday, asks a federal court to overturn New York’s landmark state law aiming to halt algorithmic rent-fixing by artificial intelligence software. In a court filing reviewed by The Lever, the company calls the law “a sweeping and unconstitutional ban on lawful speech specifically intended to outlaw software developed and sold by companies like Plaintiff RealPage, Inc. that provide information and advice to owners and managers of rental properties.”

[TW: The purpose of free speech, in a democratic republic, is to ensure that the search for truth is not hindered, obstructed, or limited. Because the search for truth is a fundamental to self-government, citizens must have access to knowledge, ideas, and public discourse in order to form judgments about the state of society had how it is being governed. If anything, because corporations have much greater economic resources than individual citizens, and routinely use that economic advantage to command immense political power, it is a dangerous and ill-advised idea, to extending speech rights to corporations. The arguments being made by ExxonMobil and RealPage are gross perversions of the reasons for free speech, and should be not just rejected outright, but punished in some way. Who are the attorneys responsible for scheming this perversion of a core principle of civic republicanism?]


Flock Safety’s CEO Garrett Langley just calls the transparency activists “terrorists.”

[X-Twitter, via Naked Capitalism 11-27-2025]


Flock Safety’s CEO Garrett Langley just called the transparency activists at http://Deflock.me  So, if mapping cameras is "terrorism"… what do we call mass surveillance of millions of innocent drivers?


PUBLIC MONEY, PRIVATE SECRETS: RETHINKING FOIA IN THE AGE OF PUBLIC-PRIVATE GOVERNANCE

[Law and Political Economy Project, via Naked Capitalism 11-27-2025]

Public-private partnerships are, as the saying goes, kind of a big deal. By “public-private partnerships,” I mean arrangements where private, usually corporate, actors work with the government to accomplish a common public good. They take two main forms: contracting, where private firms carry out government tasks, and regulation, where the government relies on private disclosures and compliance systems to pursue public interests like safety or fairness.

Despite making up a significant portion of both the GDP and federal spending, public-private partnerships are often frustratingly opaque. This opacity is, in part, by design: transparency policies governing these partnerships routinely subordinate public accountability to corporate claims of confidentiality, rooted in concerns over profit. This post examines one significant barrier to public-private transparency—FOIA Exemption 4—and offers some possible approaches to mitigate those barriers….


America Is Finally Starting to See Trump for the Bullsh*t Artist He Is

Michael Tomasky, November 24, 2025 [The New Republic]

...The answer to how Trump has succeeded is really simple: He lies nonstop, and lying works. Sure, there are other factors in play—he tapped into and intensified a certain strain of profound proletarian resentment of liberal elites, and … well, that’s about it. But mostly, it’s the lies….

We tell ourselves that we live in a free society with a Fourth Estate that calls out lies and holds liars accountable. And furthermore, we teach our children not to lie and warn them of consequences should they do so. In such a society, lying should not work. So why does it?

It works on the public stage (private life is a different matter) because in that sphere, someone who lies all the time creates reality, or I should say “reality.” Think about it. Say four guys are sitting in a bar having a sports argument—talking about the upcoming college football playoffs, say. They begin by agreeing that Ohio State is the favorite because it is currently ranked number one in the polls, which it in fact is.

But one of them says: No, Texas A&M is number one. The other three look at him like he’s insane. They reach for their phones, they tap, tap, tap, and they show him the rankings. But he keeps insisting. Those polls are fake. It’s Texas A&M. Everybody says so.

The conversation stalls. The liar has “won” the argument. Not in the sense that he is factually correct; he is not. But he has won in two senses. First, he has shut down what might have been a rational, interesting, spirited debate that proceeded from shared factual premises. Second, he has forced the other three to waste time and mental energy debating a proposition that is not remotely up for debate, and in the process has succeeded in making himself the center of attention and controversy whom everyone else talks about….



Civic republicanism

The Neo-Right's Multi-Front Revolt Against America — A political theorist traces the intellectual history of the various strains of a movement gone rogue

William Galston, Nov 23, 2025 [theunpopulist.net]

Although Laura K. Field’s Furious Minds: The Making of the MAGA New Right is not a short book, I found myself compelled to read it twice—one time for the ideas, the other time for the author’s story. As I discovered, they are related…. the “long, slow process of extricating myself from the world of conservative intellectualism.”

This is how the two readings of her book come together: it is a deeply researched account of the rise of the MAGA New Right during the past two decades braided with the narrative of her break with it, a process sparked and shaped by what Field argues is the new movement’s increasingly blatant misogyny and obsession with masculinity….

When I say “deeply researched,” I mean it. The book’s 59 pages of footnotes, set in type so small that my aging eyes could barely cope, bear witness to the extraordinarily persistent inquiry that informs it. This inquiry is more than archival; Field attended countless academic panels and New Right conferences (until the National Conservatives eventually barred her from entering) while tracking the online activities of leading New Right figures. The result is something rare—intellectual history that is not just researched but also reported, a vivid narrative that sweeps the reader along. You’ll really want to know what happens next.

The story begins in the 1970s, with the rise of the conservative “fusionism” pioneered by William F. Buckley Jr. and Ronald Reagan. It rested on three pillars—social conservatism, free market economics, and anti-communist internationalism—and it dominated the Republican Party well into the current century….

But this book is more than a compelling narrative. Because Field is a well-trained political theorist, she offers a lucid analytical template of New Right thought, along with penetrating analyses of some of its major figures such as Patrick Deneen, Yoram Hazony, and Adrian Vermeule.

She divides these intellectuals into four groups—the Claremonters, Postliberals, National Conservatives, and what she dubs the Hard Right Underbelly…. 

Unlike the Claremonters, the Postliberals do not believe that the United States was well-founded. Patrick Deneen became well-known for arguing that America’s founding creed—Lockean liberalism—led inexorably to a hyper-individualized way of life that dissolved the social bonds and traditional values needed for a decent and purposeful existence.

To fill the void liberalism creates, many Postliberals are drawn to “integralism,” usually inspired by Catholicism, that rejects the distinction between public and private life, state and society, and advocates a form of community guided throughout by religion. Some integralists embrace theocracy, while others are willing to settle for non-coercive persuasion toward a society suffused by a single creed. Harvard law professor Adrian Vermeule tries to bridge the gap between integralism and the U.S. Constitution with what he calls “common good constitutionalism.” Catholicism provides the substance of the common good, and promoting the common good, so understood, suffices to determine the legality of a law or action. Unlike legal liberalism, Vermeule writes, “[C]ommon good constitutionalism does not suffer from a horror of political domination and hierarchy, because it sees that law is parental, a wise teacher and an inculcator of good habits.” In this vision, America’s founding commitment to liberty as an unalienable right disappears and, as one of Vermeule’s followers, Josh Hammer, put it, citizens’ own perceptions of what is good for them become “constitutionally irrelevant.”

The third principal stream feeding the New Right is National Conservatism, sparked by Yoram Hazony’s The Virtue of Nationalism. Hazony argues for the nation as the best form of political community and sees a world of independent nation-states as superior to internationalism and imperialism, terms he deploys so broadly as to include the European Union. He embraces John Stuart Mill’s vision of independent nations as the best protection for pluralism among ways of life and endorses history and tradition as legitimate bases of national particularism.



How a Government Think Tank Trained The First Generation of US Software Developers 

[Construction Physics, via Naked Capitalism 11-28-2025]


Trump Delivers Darkest Thanksgiving in US History

Thom Hartmann, Nov 28, 2025 [Common Dreams]

A story from the nation’s founding to bring us hope in these terrible times. There is a way out of this.