Sunday, January 26, 2025

Week-end Wrap – Political Economy – January 26, 2025

Week-end Wrap – Political Economy – January 26, 2025

By Tony Wikrent


The Trump “Litmus Test” 

Scott Ritter [via Naked Capitalism 01-25-2025]

...I’ll take this moment to remind President Trump that one of the “crimes” I was accused of committing by the Ukrainian government which put me on their State Department-funded death lists, was to claim that the Russian-Ukrainian conflict was a direct result of NATO expansion.

Which is, of course, the same assessment put forward by President Trump.

If you were an average American citizen, Mr. President, your name would be on that list.

Now is your chance to stand up in defense of the average American citizen and shut these lists down while terminating all connectivity between the US and Ukrainian governments which target US citizens for speaking out against Ukrainian propaganda talking points.

“The First Amendment to the United States Constitution,” you wrote, “an amendment essential to the success of our Republic, enshrines the right of the American people to speak freely in the public square without Government interference.”

You promised to defend this right.

Prove it with action, not just words.


Strategic Political Economy

”a way for those who want something from Trump to transfer money directly to him”

Heather Cox Richardson, January 20, 2025 [Letters from an American]

The tone for the inauguration of Donald J. Trump as the 47th president of the United States at noon today was set on Friday, when Trump, who once trashed cryptocurrency as “based on thin air,” launched his own cryptocurrency. By Sunday morning it had made more than $50 billion on paper. Felix Salmon of Axios reported that “a financial asset that didn’t exist on Friday afternoon—now accounts for about 89% of Donald Trump’s net worth.”

As Salmon noted, “The emoluments clause of the Constitution,” which prohibits any person holding a government office from accepting any gift or title from a foreign leader or government, “written in 1787, hardly envisaged a world where a president could conjure billions of dollars of wealth out of nowhere just by endorsing a meme.” Salmon also pointed out that there is no way to track the purchases of this coin, meaning it will be a way for those who want something from Trump to transfer money directly to him.

Former Trump official Anthony Scaramucci posted that “anyone in the world can essentially deposit money” into the bank account of the president of the United States….

Walter Schaub, former head of the Office of Government Ethics under Trump in his first administration, who left after criticizing Trump’s unwillingness to divest himself of his businesses, wrote to CNN: “America voted for corruption, and that’s what Trump is delivering…. Trump’s corruption and naked profiteering is so open, extreme and pervasive this time around that to comment on any one aspect of it would be to lose the forest for the trees. The very idea of government ethics is now a smoldering crater.”


The Land of Greater Fools: America as a big con.

Hamilton Nolan, January 21, 2025 [How Things Work]

Watching Trump launch a crypto coin days before his own inauguration that instantly made him billions of dollars richer is kind of impressive, in the way that you might be impressed by watching the planes strike the twin towers on 9/11. People said this was bad, yes. But do you understand the level of corruption that is on full display here? This is—I don’t want to be hyperbolic here—a level of public corruption that is, let’s conservatively say, one thousand times worse than the Watergate scandal. That was just an instance of a paranoid president trying to steal secrets from his political opponents and then covering it up. This, on the other hand, is the president-elect of the United States of America putting out a big bucket that says “BRIBE ME” right before he takes office. Anyone can now buy an imaginary “coin” and the money will go directly into the pockets of the Trump family, as they run the United States government. That is what happened here. Donald Trump’s net worth went up by tens of billions of dollars in one day. In one day! The day before his inauguration! Out of thin air! And then his fucking wife made a coin, too! This is not even the same as the Trump family launching a business, building hotels that wealthy interests might stay in to try to curry favor. There is no business here. This is just saying, “Give the president money and we’ll give you this token we made up.” It is a tip jar that sits on the desk of the Oval Office. You almost have to laugh. The way that I know that people have not quite internalized how outrageous this is is that everyone is not still talking about it, right this minute.

Imagine a grainy undercover FBI sting video of a crooked politician being handed a paper bag full of money. Now imagine that the bag contains ten billion dollars. Now imagine the camera pulling back and the guy taking the bag also controls the FBI. That’s what is happening, my friends. It is not hidden. It is the opposite of hidden. Boldness is the way of the wise crook. Hiding things implies that you think that they are wrong.


The Frankenstein of Unregulated Capitalism Has Its Monster: How Total Greed Syndrome warps reality

Jim Stewartson, January 21, 2025

I’ve said this before, but I have never been more convinced, if we are to keep a capitalist system at all, we must turn it completely upside down and tax billionaires out of existence. And while that may sound extreme, just wait until things really get rolling with the Fourth Reich.

The destruction of the environment will accelerate as the actual President yells about how “liquid gold” from “drill baby drill” will create a “Golden Age.” The information environment will be completely controlled by the fascist, illiberal state and its corporate extensions, like the former Twitter and Facebook. Racism, misogyny, and antisemitism will bloom and result in state-sanctioned violence. “Deportations” will end up as concentration camps. Women will suffer more. Trans people will be persecuted. The economy will crash. Wars will break out.

If we survive this four years and there is an attempt at another election, there may well be enough horror, pain, and tragedy built up to make the drastic changes to correct the cancer-ridden husk that remains of the government.

The Chevron ruling which seized the regulatory power of the administrative state for the Judiciary Branch, was the ultimate result of Citizens United. The corrosive money SCOTUS allowed to flow into the election system from that case ate its way all the way down to the bone, eliminating the central reason we have a government — protection.

But to psychopaths, our well-being is absolutely meaningless, unless we make it too expensive for them to keep taking protections, and rights, away from us. And I mean really expensive. TGS is a hell of a drug….



Sam Altman, Mark Zuckerberg and biz leaders choose Trump inauguration over World Economic Forum in Davos, Switzerland 

Lydia Moynihan, 22/01/2025 [Defend Democracy Press]


Global power shift

China’s overlapping tech-industrial ecosystems 

[High Capacity, via Naked Capitalism 01-24-2025]

Graphic


Gaza / Palestine / Israel

'This is Ethnic Cleansing': Trump's Idea for Jordan and Egypt to Take Gazans Triggers Outrage

Eloise Goldsmith, January 26, 2025 [CommonDreams]

Speaking to reporters Saturday, U.S. President Donald Trump said he would like to see most of the population of war-torn Gaza be relocated to Jordan and Egypt, a plan that a number of observers said was tantamount to ethnic cleansing. Trump made the remarks the same day that he lifted a Biden-era hold on the supply of 2,000-pound bombs to Israel.

"I'd like Egypt to take people. And I'd like Jordan to take people," Trump said, according to the Financial Times. "You're talking about a million and half people, and we just clean out that whole thing." 


Oligarchy

Where Have the Good Oligarchs Gone? The so-called 'left,' the actual Left, and oligarchs 

Thomas Neuburger, January  24, 2025 [God’s Spies]

The Left — the actual Left — is ideologically and permanently opposed to Rule by the Rich. The distinction above is important, and without the utter destruction of the Oligarch class, its actual dismantlement, real self-rule in the U.S. will be hope unfulfilled, a “stretch goal” in corporate-speak, not something we’ll ever have back.


What the global elite reveal to Davos sex workers: High-class escort spills the beans on what happens behind closed doors – and how wealthy ‘know the world is doomed, so may as well go out with a bang’ 

[Daily Mail, via Naked Capitalism 01-23-2025]


The carnage of mainstream neoliberal economics

Amazon closing all Quebec warehouses, laying off more than 1,700 workers 

[CTV, via Naked Capitalism 01-23-2025]


2024 US home sales hit lowest level in nearly 30 years with ownership increasingly out of reach 

[Associated Press, via Naked Capitalism 01-25-2025]


This Is Why Your Furniture Sucks Now: How bad trade deals and IKEA ruined Americans’ couches and tables. 

Nicole Bardasz, January 17, 2025 [More Perfect Union, via Naked Capitalism 01-25-2025]


Restoring balance to the economy

How to Take Heart From What Really Worked in the First Resistance

Theda Skocpol, January 24, 2025 [The New Republic]

Marches and lawsuits are fine, but the real wins over MAGA last time were powered by grassroots activists pushing from thousands of districts across the country.


Disrupting mainstream economics

Supply-Sider 

[New Left Review, via Naked Capitalism 01-25-2025]

Anthony L: “On Stiglitz on Rawls.”

Taking a step back from immediate policy questions, Stiglitz has recently published a new book that seeks to reconstruct economic policy from first principles. ‘What kind of economic system is most conducive to a good society?’ is the central question of The Road to Freedom – its title a clear riposte to Hayek, who in The Road to Serfdom (1944) famously warned of the authoritarian danger posed by even modest levels of government intervention. Stiglitz’s book is not only an attack on the neoliberal faith in free markets, but an attempt to reclaim the ideal of freedom back from the right. This is a variation on a familiar argument – namely, that the market provides only ‘negative’ freedom, not ‘positive’ freedom: the capacities or resources we might need to put our otherwise merely formal freedom to use.


Health care crisis


Information age dystopia / surveillance state

Decentralized Social Media Is the Only Alternative to the Tech Oligarchy 

[404 Media, via Naked Capitalism 01-23-2025]


Trump orders release of JFK, RFK and MLK assassination records 

[AP, via Naked Capitalism 01-24-2025]


Creating new economic potential - science and technology

In a first, oxygen and rocket fuel made using artificial photosynthesis in space

January 20, 2025 [interestingengineering.com]

For the first time, Chinese astronauts have reportedly demonstrated artificial photosynthesis technology in orbit.

They have successfully conducted experiments that mimic photosynthesis, converting carbon dioxide and water into oxygen and rocket fuel ingredients.

This development is a major step towards long-term space exploration, as it demonstrates the potential for producing essential resources in space.


Demystifying Jared Isaacman, Trump’s NASA nominee 

[Space News, via Naked Capitalism 01-23-2025]


Democrats' political malpractice

Rejecting the "Lost Cause" Resurgence — As the Old White South rises again, will Democrats wilt for the sake of 'national' reconciliation?

Peter Laarman, January 16, 2025 [Los Angeles Progressive]

Yes, the Democrats will someday come to be ashamed of and to regret their shameless support for the disgusting and xenophobic Laken Riley Act, as Michelle Goldberg predicts….

This might be a good time to recall where the politics of accommodation can take us. And no, I am not thinking here of German elites accommodating themselves to Hitler. I have in mind the 1870s and 1880s in this country, when far too many former friends of abolition democracy were only too willing to oblige White Southern determination to keep the old order in place. In this case, the Northerners, many of them former Abolitionists, enjoyed a preponderance of power but chose to cede it for the sake of national “reconciliation” at the expense of Black people.

I realize that for the analogy to work, the elements gaining power today would need to be every bit as morally reprehensible as the South’s racist “Redeemers” and the terrorists who presided over the Jim Crow regime. And today’s accommodators would have to be as dishonorable as the craven Northern accommodators of that same era. Are they? Is it fair to compare a weak-kneed 2025 Democratic response to Trumpism to the weak-kneed (and sometimes corrupt) 1875 Northern accommodation of violent insurrectionists?….

Diehard Southerners used to proclaim “The South Will Rise Again!” They don’t proclaim it now, because they don’t have to. It’s clear enough that the Old White South has risen, more than once, and always with a vengeance. First in the abandonment of Reconstruction; then in Richard Nixon’s “Southern Strategy” fueled by White backlash to the civil rights movement; and finally with the triumph of Trumpism in the wake of Obama’s presidency. Each of these risings has been leavened by a White evangelical Christianity that also has its roots in the South’s humiliation of 1865….

Historian Richard Slotkin recently published an impressive summation of his work, addressing the theme of regeneration through violence that has animated all of his writing about US history for the past half century. Slotkin’s new volume, A Great Disorder: National Myth and the Battle for Americaends with a chapter that envisions Donald Trump as the last Confederate president and notes that today’s ongoing culture wars “are not simply quarrels about issues like abortion and gun safety. They are disagreements about the fundamental character of American nationality and the purposes of the American nation-state.”

Several themes explored by Slotkin are highly relevant to what many are calling the latest “realignment” in US political history. I will mention just three.

Plutocratic populism

Slotkin notes how the South’s dominant political class of the 1840s and 1850s—the major planters—was able to keep yeoman farmers and small-scale planters in line. These dominators fashioned an ideology “assigning the highest value and power to the holders of wealth, which poor or working-class white people will accept as long as their superiority to nonwhite people is guaranteed.”….

Immigration as a Black-adjacent threat to democracy

Writing in 1877, Nation publisher E.L. Godkin, once a stalwart Abolitionist, echoed Southern “Redeemer” politicians’ condemnation of Blackness.…

Slotkin notes that the turncoat Godkin was hardly alone in lumping immigrants and Blacks together as undesirables. Harvard president A. Lawrence Lowell also compared immigrants from Southern and Eastern Europe to Black people and Indians: “beaten men from beaten races, representing the worst failures in the struggle for existence.” Real Americans of Anglo-Saxon stock, Lowell argued in 1890, cannot expect to live freely alongside such inferior breeds. The un-American elements must therefore be barred from entering the country or else barred from participating in politics: precisely the “solution” that the Jim Crow states had by then put into practice in relation to the supposed menace of African American enfranchisement….

Valorized violence and mainstreamed misogyny….

“Heritage, not hate” is how the Southern Way of Life is still marketed today. This gloss helps to sell millions of insecure White men on the idea that stamping out the transgender menace and restoring traditional male authority in the household constitutes a noble cause. Raw misogyny masquerades as gallantry in this framing—i.e., the proper way to love women is to control them. Yale-educated JD Vance is proving himself especially adept at suggesting that independent, educated women (and trans youth) need to be put in their place for their own good. Trump, of course, is a bit clumsier, vowing to protect women “whether the women like it or not.”….


Trump’s transactional regime

Water Cooler 1/21/2025 

Lambert Strether, January 21, 2025 [Naked Capitalism]

Here is the list. I took it from the Whitehouse.gov page on “Presidential Actions.” ….

Executive Orders:

  1. Restoring Names That Honor American Greatness (order)
  2. Designating Cartels And Other Organizations As Foreign Terrorist Organizations And Specially Designated Global Terrorists (order)
  3. Reforming The Federal Hiring Process And Restoring Merit To Government Service (order)
  4. Ending Radical And Wasteful Government DEI Programs And Preferencing (order)
  5. Defending Women From Gender Ideology Extremism And Restoring Biological Truth To The Federal Government (order)
  6. Establishing And Implementing The President’s “Department Of Government Efficiency” (order)
  7. America First Policy Directive To The Secretary Of State (order)
  8. Protecting The United States From Foreign Terrorists And Other National Security And Public Safety Threats (order)
  9. Unleashing Alaska’s Extraordinary Resource Potential (order)
  10. Protecting The American People Against Invasion (order)
  11. Reevaluating And Realigning United States Foreign Aid (order)
  12. Declaring a National Energy Emergency (order)
  13. Restoring The Death Penalty And Protecting Public Safety (order)
  14. Securing Our Borders (order)
  15. Protecting The Meaning And Value Of American Citizenship (order)
  16. Realigning the United States Refugee Admissions Program (order)
  17. Unleashing American Energy (order)
  18. Clarifying The Military’s Role In Protecting The Territorial Integrity Of The United States (order)
  19. Holding Former Government Officials Accountable For Election Interference And Improper Disclosure Of Sensitive Governmental Information (order)
  20. Restoring Accountability To Policy-Influencing Positions Within the Federal Workforce (order)
  21. Withdrawing The United States From The World Health Organization (order)
  22. Application Of Protecting Americans From Foreign Adversary Controlled Applications Act To TikTok (order)
  23. Putting America First In International Environmental Agreements (order)
  24. Ending The Weaponization Of The Federal Government (order)
  25. Restoring Freedom Of Speech And Ending Federal Censorship (order)
  26. Initial Rescissions Of Harmful Executive Orders And Actions (order)

Proclamations:

  1. Guaranteeing The States Protection Against Invasion (proclamation)
  2. Declaring A National Emergency At The Southern Border Of The United States (proclamation)
  3. Granting Pardons And Commutation Of Sentences For Certain Offenses Relating To The Events At Or Near The United States Capitol On January 6, 2021 (proclamation)
  4. Flying The Flag Of The United States At Full-Staff On Inauguration Day (proclamation)

Memoranda:

  1. The Organization for Economic Co-operation and Development (OECD) Global Tax Deal (Global Tax Deal) (memorandum)
  2. Organization of the National Security Council and Subcommittees (memorandum)
  3. Temporary Withdrawal of All Areas on the Outer Continental Shelf from Offshore Wind Leasing and Review of the Federal Government’s Leasing and Permitting Practices for Wind Projects (memorandum)
  4. Restoring Accountability for Career Senior Executives (memorandum)
  5. Promoting Beautiful Federal Civic Architecture (memorandum)
  6. Putting People Over Fish: Stopping Radical Environmentalism to Provide Water to Southern California (memorandum)
  7. America First Trade Policy (memorandum)
  8. Memorandum to Resolve the Backlog of Security Clearances for Executive Office of the President Personnel (memorandum)
  9. Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis (memorandum)
  10. Hiring Freeze (memorandum)
  11. Regulatory Freeze Pending Review (memorandum)
  12. Return to In-Person Work (memorandum)

Announcements:

  1. President Trump Designates Chairmen and Acting Chairmen (announcement)
  2. President Trump Announces Acting Cabinet and Cabinet-Level Positions (announcement)
  3. President Trump Announces Sub-Cabinet Appointments (announcement)
  4. President Trump Announces Cabinet and Cabinet Level Appointments (announcement)


Executive Action Reaction: Day 3: Explaining what Donald Trump is up to

Prospect Staff January 23, 2025 [The American Prospect]

The effort to overhaul birthright citizenship is now stalled thanks to U.S. District Court Judge John Coughenour in Washington state, a Reagan appointee who did not hold back in his contempt for this jurisprudential malpractice….

Meanwhile, Coughenour said there was a “strong likelihood” that the executive order was unconstitutional on the merits, citing past cases that confirmed the birthright citizenship grant in the 14h Amendment. In a hearing today, he was far more direct. “This is a blatantly unconstitutional order. Where were the lawyers when this decision was being made? … Frankly, I have difficulty understanding how a member of the bar would state unequivocally that this is a constitutional order. It just boggles my mind.”

This is a temporary restraining order, granted for 14 days as the case plays out. But it’s not exactly good for Trump that the judge labeled this the easiest decision he’s ever had to make.


The TrumpCoin Cometh: Or, How I Learned To Stop Worrying and Love the Grift. 

Michel de Cryptadamus, January 21, 2025

...My personal favorite aspect of the TRUMP launch was the contractual terms and conditions on offer over on gettrumpmemes.com. Some back story: the crypto industry has been fighting back against government regulators for years now by attempting to claim that cryptocurrency tokens cannot be “investment contracts” because they are not “contracts”13. Literally hundreds of millions of dollars have been given to lawyers without consciences to enable them to boldly stroll into courtrooms all across the globe and claim that without a contract between the buyer and seller a crypto token cannot be an “investment contract” and if crypto tokens are not “investment contracts” then the laws that have dutifully protected retail investors from scam artists for almost 100 years do not apply to crypto tokens. In other words: it’s open season on retail chumps who think they can strike it rich by investing in FartCoin….

...Now that doesn’t mean that all of the hundreds of millions the Trump team was able to pocket came from people with Chinese or Singaporean passports. And it definitely doesn’t mean that the $500 million flowing through sketchy Asian crypto exchanges into Trump insiders’ pockets was actually just a way for someone (*cough* TikTok *cough*) to pay a massive bribe in broad daylight to convince Trump that banning large Chinese social media platforms from the American market was a bad idea30. It does, however, mean that the businesses through which all those hundreds of millions of dollars passed on their way to Trump insiders’ pockets were run by people with Chinese or Singaporean passports operating out of a country somewhere on the Eastern half of the Eurasian continent. [UPDATE] Protos pointed out that the hourly trading volumes for TRUMP suggest that it is actually Chinese traders and not just international traders trading on Chinese exchanges driving the TRUMP market.

Bringing back American jobs amirite? ….


Why Donald Trump hates wind power 

January 23, 2025 [reve, via Clean Power Roundup]

One of his most frequent arguments against wind power is that wind farms are ugly—and that’s where Trump’s own antipathy began. In 2006, he bought land along the coast in Scotland to build a golf course. Then he learned that an offshore wind farm was planned for the area. Worried about the view, he filed a complaint with the government, describing the wind farm as “an ugly cloud hanging over the future of the great Scottish coastline,” and arguing that the wind farm should be relocated or shouldn’t be built at all.


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

Trump demands California voter ID law for wildfire relief and threatens FEMA upon arrival in North Carolina 

[Independent, via Naked Capitalism 01-25-2025]


'Unthinkable': Trump FTC Chair Shuts Down Public Comments on Corporate Pricing Tactics

Jake Johnson, January 24, 2025 [CommonDreams]


The (anti)Federalist Society assault on the Constitution

The Supreme Court Case That Got Us Here

Arjun Singh, January 24, 2025 [The Lever]

Fifteen years ago, the Supreme Court’s Citizens United decision ushered in a new era of corporate dominance over American politics.


“Blatantly unconstitutional”: Judge blocks Trump’s birthright citizenship order 

[Axios, via Naked Capitalism 01-24-2025]


What to know about the ruling blocking Trump’s order on birthright citizenship 

[AP, via Naked Capitalism 01-24-2025]


The Broligarchy Wants Slavery Back — The attack on birthright citizenship is not about immigration, it’s about bringing back legalized slavery 

Jim Stewartson, January 25, 2025

The 14th Amendment to the Constitution created birthright citizenship as part of the abolition of slavery; freed slaves in America were granted citizenship after a bloody Civil War. The 14th Amendment overturned the disgraceful 1857 decision Dred Scott v. Sanford, which held that the Constitution and American citizenship did not extend to Black people.

Nevertheless, in his first week in office, Donald Trump issued an executive order ending birthright citizenship. This was blocked by a judge as “blatantly unconstitutional” but in many ways the order was already successful — because now the “issue” of birthright citizenship is a “debate” obscured by the excuse that it’s about immigration. It isn’t. It’s about starting the process of legalizing slavery, again.

As I have reported, the “Dark Enlightenment” is the PayPal Mafia’s ideological north star, a “hyper-racist,” antidemocratic, pseudo-intellectual framework rationalizing authoritarianism, eugenics, and slavery. Its lead proponent Curtis Yarvin is the troll-like prophet of a movement which has largely captured Silicon Valley and now the US Federal Government. The Vice President, JD Vance, is a follower, as are Peter Thiel, Elon Musk, Steve Bannon and many others in positions of influence and power.

Last night, in a rare 50-50 vote, decided by JD Vance as the tie-breaker, the Senate approved Pete Hegseth, an alcoholic rapist, a christofascist lunatic, and an unqualified Fox News host, to be the Secretary of Defense. Hegseth follows the teachings of Doug Wilson, a “pastor” who says that empathy is Satanic, that women should not vote, and that slavery was actually good….

[TW: For many, Stewartson might be “too polemical.” But a reason I keep repeating the theme of civic republicanism is that a philosophy of governing matter a great, great deal. Should society be organized and governed for the improvement of the lives of ALL people? Who gets to decide what this means? Or are resources scarce society just cannot afford for all people to live free of hunger and privation?

[Stewartson is pointing out that the thinking of the billionaires and oligarchs who have gained control of USA is extremely dangerous. Their thinking goes like this: “We are rich because we are superior. Because we are superior, we know better than you do what is good for society. Because we know better than you do what is good for society, letting you have a say in how and where society is going is pointless. In fact, letting you have a say in how and where society is going is often an obstacle and impediment to what we know should be done. Democracy is a liability, not an asset.”

That’s what the billionaires and oligarchs think; it’s what billionaires and oligarchs have thought for centuries, before and after the American Revolution. At what point since 1776-1782 have oligarchs stopped thinking they know better than anyone how to run society, and democracy is a hindrance to their rule?

There is a final point to this thinking of billionaires and oligarchs: “We’re going to run things, so you should just settle down and enjoy the diversions we give you for your entertainment.” Which is why it’s so telling that Trump is making Linda McMahon, a founder of World Wrestling Entertainment, Inc., his Secretary of Education. ]


The Price of Speaking Up in Trump’s America

Parker Molloy, January 24, 2025 [The New Republic]

A bishop asked the president to show mercy to immigrants and scared children. The response tells us everything about the next four years….

Trump himself attacked her on Truth Social, calling her a “Radical Left hard line Trump hater” and demanding an apology. He told reporters the service was “not too exciting” and that organizers “could do much better.”

But that was just the beginning. Right-wing media launched an all-out assault on Budde that revealed exactly how power plans to deal with dissent in Trump’s second term. Fox News host Greg Gutfeld literally called her “Satan.” His colleague Sean Hannity described it as a “disgraceful prayer full of fearmongering and division.” Fox & Friends co-host Lawrence Jones called Budde’s words “radical leftist.” The Daily Wire’s Matt Walsh declared that “hell exists for people like Mariann” and called her “exhibit A for why women should not be pastors, priests, or bishops.”

Even members of Congress got in on the act, with one Republican suggesting that the American-born bishop should be “added to the deportation list.”



Will the Courts Enforce the Constitution Against President Trump?

Erwin Chemerinsky, January 22, 2025 [American Prospect]

If they don’t, the checks and balances that have defined our government since its inception will give way to one-man authoritarian rule.

[TW: An example of “they just don’t get it.” Especially since Chemerinsky for decades has been seen as one of the leading liberal Constitutional lawyers. The entire purpose of the richly funded conservative and libertarian movement for nine decades now is to overthrow the founding philosophy of civic republicanism.]


Practice Your Cursive as a Citizen Archivist and Preserve Thousands of Historic Documents

[Colossal, via Naked Capitalism Water Cooler 01-24-2025] 

“In 2010, the newly established Common Core State Standards program, which outlines skills and knowledge students should acquire between kindergarten and high school, did not include cursive in its English requirements. As a result, many young people can no longer read or write in cursive. But if you can—or are willing to learn—a wealth of historical documents await you in the U.S. National Archives. The federal organization’s Citizen Archivist program is recruiting volunteers to help transcribe thousands of documents in its collection. Records in need of review are categorized into ‘missions,’ like paperwork relating to women in the First World War or submarine patrol reports during the Second World War…. The National Archives also needs people to tag photographs and other materials to help identify people, events, or places. By improving searchability, the archives become more accessible to historians, genealogists, students, and the public. It’s easy to get started: just register and select a document to begin transcribing. There’s no application, and you can contribute as much or as little as you’d like. National Parks Service interpretation planner Joanne Blacoe says, ‘We wanted something that was going to last beyond an anniversary, not just in our own archives but in a place that everybody could access.'”


Sunday, January 19, 2025

Week-end Wrap – Political Economy – January 19, 2025

Week-end Wrap – Political Economy – January 19, 2025

By Tony Wikrent


Strategic Political Economy

Can nonviolent struggle defeat a dictator? This database emphatically says yes

[Waging Non-Violence, via Naked Capitalism Water Cooler 01-14-2024]

“[T]he Global Nonviolent Action Database, or GNAD, built by the Peace Studies department at Swarthmore College. Freely accessible to the public, this database — which launched under my direction in 2011 — contains over 1,400 cases of nonviolent struggle from over a hundred countries, with more cases continually being added by student researchers. [T]he database details at least 40 cases of dictators who were overthrown by the use of nonviolent struggle, dating back to 1920. These cases — which include some of the largest nations in the world, spanning Europe, Asia, Africa and Latin America — contradict the widespread assumption that a dictator can only be overcome by violence. What’s more, in each of these cases, the dictator had the desire to stay, and possessed violent means for defense. Ultimately, though, they just couldn’t overcome the power of mass nonviolent struggle.” 

[Lambert Strether: “I would like for this to be true. I would also want to check those 40 cases for contamination by spook-driven color revolution, and the geopolitical context.”]


How the West Was Lost 

Krzysztof Tyszka-Drozdowski [American Affairs Journal, via Naked Capitalism 01-18-2025]

REVIEW ESSAY
Le Défaite de l’Occident

by Emmanuel Todd

Gallimard, 2024, 384 pages

....European elites have yielded to what Todd calls the anti-ideology of “Europeanism.” It is an anti-ideology insofar as it does not allow for any active political community to emerge: the upper classes have been captivated by the belief that nations should not exist. In this respect, Europeanism is very similar to Anglo-Saxon ultraliberalism, which also dismisses the nation as a pernicious fiction. According to Todd, this belief manifests in various ways, primarily through efforts to abolish nations via European integration or to fragment them by geo­graphically separating minorities, ultimately increasing atomization in the name of multiculturalism.2 Without a shared moral compass, society disintegrates “into isolated bubbles, confined to their own problems, pleasures and pains.” In this condition, the governing establishment constitutes nothing more than another “autistic group,” says Todd, with the only difference being its greater visibility.3

At a more practical level, the abandonment of the national framework in economic thinking has led to many policy mistakes that have weakened European states. Alternatives to liberalism have been stamped out, reducing economic policy exclusively to making the labor market more flexible or to cutting public spending. Another consequence of rejecting the concept of the nation is the neglect of demographic issues....


Why Biden May Matter

David Leonhardt [New York Times, via Naked Capitalism Water Cooler 01-16-2024]

“one major part of Biden’s agenda has a decent chance of surviving. It was the idea that animated much of the legislation he signed — namely, that the federal government should take a more active role in both assisting and regulating the private sector than it did for much of the previous half-century. This idea has yet to acquire a simple name. The historian Gary Gerstle has called it the end of the neoliberal order….

The philosophy didn’t originate with Biden, but he meaningfully shifted the country toward it, first as a candidate in 2020 and then as president. He moved the Democratic Party away from decades of support for trade liberalization and imposed tariffs on China. He pursued an industrial policy to build up sectors important to national security (like semiconductors) or future prosperity (like clean energy). And his administration was more aggressive about restraining corporate power than any in decades, blocking mergers, cracking down on ‘junk fees’ and regulating drug prices….

Trump will surely undo major parts of the Biden agenda, especially on climate change and some aspects of corporate regulation. In other ways, though, Trump is part of the shift away from neoliberalism. He romped through the 2016 Republican primaries partly because he was more hostile to trade, China and cuts to Medicare and Social Security than other Republican politicians. Some of Trump’s second-term nominees, including for labor secretary and head of the Justice Department’s antitrust division, are hardly small-government neoliberals. Neither is Vice President-elect JD Vance.”


Wall Street could get a boost from $1 trillion in buybacks, Goldman says 

[Reuters, via Naked Capitalism 01-18-2025]

Goldman estimates that companies could spend some $1.07 trillion on buying back their own stock this year


The Competency Crisis Is Not About DEI

Ian Welsh, January 15, 2025

That DEI (women and brown people) are responsible is a constant right wing cry.

The competency crisis is a result of an economy where making money without making a product is easier than making something. We prioritized financial profits—multi generational rises in asset prices that were faster than inflation. Housing went up. Stocks went up. Private equity earned money buy buying companies, larding them up with debt, and running them into the ground. Profits were juiced by moving production offshore and engaging in regulatory and labor arbitrage.

The best profit came from playing financial games and rentierism. You didn’t have to make anything or delivery anything, you just had to find a way to squeeze money out of something by making it go up faster than inflation, or by destroying something which was already built, taking all the future value now and giving it to yourself….

Everyone wanted to make money without having to create to get it. Mostly they either wanted to get unearned money from appreciation, to destroy what others had built, or to capture a market in an oligopoly or monopoly so they could juice prices.

Meanwhile, the manufacturing floor moved to China and elsewhere. The people who knew how to make things retired, moved to other jobs, retired and eventually died.

We can’t build most things because we haven’t prioritized building things, or getting better at building things since the 70s. The eighties are where predatory capitalism took hold, and since then the whole game has been rentierism, unearned gains, predation and arbitrage….


Global power shift

The State of Western Warcraft 

Lee Slusher [via Naked Capitalism 01-15-2025] 


Britain’s post-imperial delusion 

[Unherd, via Naked Capitalism 01-15-2025]


Gaza / Palestine / Israel

Trump’s Mideast Envoy Forced Netanyahu to Accept a Gaza Plan He Repeatedly Rejected 

[Haaretz, via Naked Capitalism 01-14-2025]


Trump’s Action Demonstrates Biden’s Failure In Stopping The Genocide 

[Moon of Alabama, via Naked Capitalism 01-16-2025]


Oligarchy

Biden’s Farewell Warning About The Master Plan 

David Sirota, January 19, 2025 [The Lever]

A president who has both warned of corruption and courted oligarchs sounds a final alarm on his way out of the swamp…. as irritating as Biden’s hypocrisy is, his statement is undeniably accurate. In light of that, as we approach this week’s two big political events — the Trump inauguration-turned-billionaire gala and the 15th anniversary of the Citizens United decision that opened the door to unlimited corporate political spending — perhaps Biden’s last Oval Office speech can be seen as two things at once: an absurd contradiction but also a desperate call coming from inside the house.


‘Pollutocrat Day’: the world’s richest have already burned their annual carbon limit for 2025; the poorest 50% will take 3 years 

[Brasil de Fato, via Naked Capitalism 01-14-2025]


The carnage of mainstream neoliberal economics

The story of how two Beverly Hills farmers privatized water in California 

Yasha Levine [weaponized immigrant, via Naked Capitalism 01-15-2025]


The pistachio billionaires who guzzle more water than all of fire-ravaged 

[Los Angeles Daily Mail, via Naked Capitalism 01-16-2025]

[Lambert Strether: “With shoutout to Yasha Levine!”]


Speculation: Euthanasia Will Become Coercive 

Lyman Stone [via Naked Capitalism 01-16-2025]


Credit Card Default Wave Hits U.S. Banks 

Doug Casey [via Naked Capitalism 01-15-2025]


They’re not capitalists — they’re predatory criminals

[X-Twitter, via Naked Capitalism 01-13-2025]

Ivor Caplin, the former chair of the Israel lobby group the JLM, which is closely linked to the Israeli embassy, has been caught by paedophile hunters attempting to meet a child. He was chair of the organisation during the campaign to oust Corbyn.


Billionaire Robert Miller accused of being secret pedophile who preyed on girls as young as 11

[Daily Mail, via Naked Capitalism 01-16-2025]

“Robert Miller, 81, allegedly paid minors for sex between 1994 and 2006 and recruited them with the assistance of employees from his company, Future Electronics. This week, Quebec Superior Court Judge Catherine Piché ruled that a class action launched by three of Miller’s alleged victims could proceed. ‘These extremely serious acts allegedly took place over several years, when they were between the ages of 11 and 17,’ she wrote in her decision, according to CBA. ‘The court should not, at this stage, consider the merits of the dispute and it should take the facts as proven, unless they appear improbable or manifestly inaccurate.’ The class action has been launched by three women who allege they were victims of Miller, and also targets Future Electronics. If the class action is successful, Miller could be ordered to hand over up to $150million in damages. Lawyer for the plaintiffs Jeff Orenstein told the court he’d been approached by 51 alleged victims.”


Health care crisis

2 Ways To Deal With Healthcare: Democratic Socialist Bernie Sanders & Kansas Crackpot Roger Marshall

Howie Klein, January 13, 2025 [downwithtyranny.com]

...Roger Marshall, a very extreme Republican— and an obstetrician— is also a member of the HELP Committee. He has a very different way at looking at health than Bernie does, basically, blame the victims and kick them while they’re down. He has long worked to repeal ObamaCare, claiming that some people “just don't want health care.” Yesterday, Peter Wade reported that as Marshall and other Republicans line up to slash healthcare the Kansas senator claims that “Americans who are sick and dying should mostly blame themselves for their health condition. ‘Look, about 70 percent of your health outcomes are determined by you,” Marshall said Sunday on Fox News’ Sunday Morning Futures. ‘It’s determined by what you eat and what you’re surrounded by. By the time you come to my office as a doctor, I can impact maybe 10 or 20 percent of your health outcomes.’….

[Rolling Stone:] ”This narrative that Americans are responsible for their own health outcomes through the choices they make at the grocery store helps justify the forthcoming gutting of health care protections and access. And it conveniently ignores other systemic social determinants of health such as poverty, racism, and economic instability.”


America’s Coming Public Health Crisis

Melody Schreiber, January 15, 2025 [The New Republic]

Efforts to stop the spread of infectious disease have always suffered from a cycle of panic and neglect. Vaccine skepticism in the new administration brings even greater challenges.

[TW: I want to get this on the record.]


Drug Commercials Aren’t Just Annoying — They’re Costing You Money 

Helen Santoro, January 13, 2025 [The Lever]


Information age dystopia / surveillance state

Whatever the Spook State Wants… Tulsi Gabbard is the latest to go into a room and come out reformed

Thomas Neuburger, January 15, 2025 [God’s Spies]


Collapse of independent news media

Washington Post traffic craters, loses $100M amid identity crisis as talent, readers flee: reports

[New York Post, via Naked Capitalism Water Cooler 01-14-2024]

“The Washington Post’s readership reportedly cratered during Joe Biden’s presidency — and the Jeff Bezos-owned broadsheet lost $100 million last year alone — as the embattled paper continues to suffer an exodus of top talent. The left-leaning [sic] publication drew about 2.5 million to 3 million daily users to its site last summer, a fraction of the 22.5 million daily visitors at its peak when Biden took office in January 2021, according to internal data shared with Semafor. The plummeting site traffic led the business to lose around $100 million on weak subscription and ad revenue in 2024, the Wall Street Journal reported.”


Climate and environmental crises

I Was There. I Know What Caused the Los Angeles Firestorms.

Philvarn, January 15, 2025 [DailyKos]


Democrats' political malpractice

Kamala Harris Paid the Price for Not Breaking With Biden on Gaza, New Poll Shows 

Ryan Grim, January 15, 2025 [Dropsite]


Letters From the February 2025 Issue

[The Nation, January 14, 2025]

Weber and Mystal argue whether it’s voters’ greed or bigotry that is to blame for electing Trump. Apparently inside the blue identity bubble you are not allowed to admit: (1) that we are an oligarchy and not a democracy anymore; (2) that Democrats have become the champions of the Forever Wars; (3) that the Biden-Harris administration is—even now—engaged in an ethnic cleansing that has ended thousands of innocent lives, destroyed America’s standing in the world, threatened international and domestic law, and showered our country in shame; (4) that donors control the Democratic Party and the wants, needs, and fears of ordinary voters have no weight inside the party at all anymore.

I get that you are not allowed to admit these things that virtually every American already knows, but in case there are any people still aligned with the war party who have the moral fortitude to look in the mirror and stand up for something real, here is the reason you lost: You are okay with slaughtering children.

Crime of the Century: CBS’ 60 Minutes Exposes the Biden Administration’s Complicity in Gaza Genocide, Interviews the Whistleblowers 

[Informed Comment, via Naked Capitalism 01-14-2025]


Letters From the February 2025 Issue

[The Nation, January 14, 2025]

In “What Was the Biggest Factor in Kamala Harris’s Defeat?” [January 2025], Isabella M. Weber and Elie Mystal debate whether it was the cost-of-living crisis or bigotry that was more decisive. Neither factor demolished Harris’s candidacy; it was “status-quoism” and its heresies, hypocrisies, and hubris that upended otherwise functional democratic governance. Jeet Heer’s penetrating analysis in the same issue [“All-System Fail”] cannot be overstated: “Democrats lost because they allowed Trump to be the only voice of antiestablishment rage.”


The Democrat Who Defied The Trump Wave

Amos Barshad, January 16, 2025 [The Lever]

Chris Deluzio keeps winning a Republican district in the nation’s most pivotal swing state — could he point the way forward for his floundering party?


(anti)Republican Drive to Civil War

DOGE Nation: How Musk's Tech Bros Plan To Hijack And Dismantle American Democracy

Howie Klein, January 12, 2025 [downwithtyranny.com]

[TW: How do (anti)Republicans square DOGE with the Congressional authority or oeversight, with their enthusiasm for the killing of the Chevron doctrine? ]


The Dark Money Plan To Spend Your Tax Dollars On Bitcoin 

Freddy Brewster, January 17, 2025 [The Lever]

Right-wing fossil fuel operatives are pushing Trump and state governments to buy billions of a volatile cryptocurrency, jeopardizing taxpayer dollars and the environment alike.


The Embarrassing Riffraff Of Evangelical Christianity Sees Señor T As God’s Wrecking Ball

Howie Klein, January 11, 2025 [downwithtyranny.com]


On a Mission From God: Inside the Movement to Redirect Billions of Taxpayer Dollars to Private Religious Schools 

[ProPublica, via Naked Capitalism 01-14-2025]


The Shadowy Millions Behind San Francisco’s “Moderate” Politics 

Laura Jedeed, January 6, 2025 [The New Republic]

The city is the epicenter of an anti-progressive movement—financed by the ultrawealthy—that aims to blur political lines and centralize power for the long term. For some, their ambitions don’t stop there….

...the anti-progressive groups have pushed a “normal versus bizarro” framework that has proved useful in painting progressives not as fellow residents with different ideas, but as dangerous wackos outside the bounds of acceptability. It’s the kind of thing that short-circuits discussion, a good-versus-evil battle that feels all too familiar in American politics writ large. “If you call yourself progressive, it’s almost a dirty word. You’re putting yourself in a category which is politically outside, because it’s been dehumanized,” Jeff Olsen, an IT security expert and native San Franciscan, told me over coffee. “That was not the case eight years ago, or five years ago.”….

The anti-progressive movement has exploited wedge issues and fostered a climate of distrust, and one of the most prominent of the “moderate” groups, TogetherSF, makes this strategy explicit—at least behind closed doors. Internal documents leaked to local progressive watchdog organization Phoenix Project, and reported by Mission Local, lay out a four-part plan for “growing an engaged (and enraged) community.” ….


“At first, when we were talking about it, it sounded very conspiratorial,” Phoenix Project executive director Jeremy Mack told me. “But then, as you start showing the money … it became a very clear line of: Oh, this is all coming from these like two dozen billionaires.”

I wrote about those plutocrats in November for The New Republic: the interlocking donations, the massive amounts of dark money, and the donors with a history of supporting Republican candidates and causes. At least one of them supported Trump in past elections, but many more are Never-Trump Republicans—which may explain why they’ve successfully passed themselves off as moderates. If arch-neocon and warmonger Dick Cheney has a seat on Team Blue, why not William Oberndorf, the billionaire behind Neighbors for a Better San Francisco who also chairs Betsy DeVos’s school choice advocacy organization and donated $2.5 million to Mitch McConnell’s Senate Leadership Fund? Why not John Kilroy Jr., the real estate magnate who gave $1 million to Neighbors for a Better San Francisco (and also sat on the board of California’s largest Republican PAC), or William F. Duhamel, who donated to the National Republican Senatorial Committee in 2023?


Civic republicanism

Can a Society Endeavor To Protect Itself From The Deprecations Of The Oligarchs And Plutocrats?

Howie Klein, January 05, 2025 [downwithtyranny.com]


Dutch War Archive Online! Or Better Not? Who Betrayed Who?

Toon Janssen, January 11, 2025 [downwithtyranny.com]

If anyone thinks that during the Second World War everyone in the Netherlands was against the German occupier, then that person is very much wrong. It is generally believed that only between 30,000 and 45,000 people were part of coordinated resistance, divided over multiple operating cells. According to sources, that is only half a percent of an average 9 million population over 5 years of war. Among them were many communists, artists and Jews. Many of them did not live to tell, because they were executed by Nazis. The number of individually operating participants in resistance, including people in hiding and their helpers was bigger however, an estimated 350,000. People also showed their dissatisfaction by striking, by using false distribution coupons or doing courier work, to mention some minor jobs. The vast majority of the population however, demonstrated a sense of powerlessness and resignation, embedded in a mentality of loyalty and adaptation to the oppressor. The Nazis characterized Dutchmen as Germanic peers and prepared them for national socialist ideology and inclusion into a Greater-German Empire….


Sunday, January 12, 2025

Week-end Wrap – Political Economy – January 12, 2025

Week-end Wrap – Political Economy – January 12, 2025

By Tony Wikrent


Strategic Political Economy

The Lost Memos That Predicted This Era

David Sirota, January 07, 2025 [The Lever]

THE PLUTONOMY MEMOS: As we welcome in 2025, it’s worth noting that this year is the 20th anniversary of the release of the so-called Plutonomy Memos — a series of Nostradamus-like reports that predicted much of the world we live in today.

The memos written in 2005 and 2006 came from Citigroup, and they effectively admit that Wall Street and its neoliberal political allies were creating a feudal American economy. These documents — which you can find herehere, and here — survive on economist Brad DeLong’s blog and in a few old media mentionsbook references, and tweets but barely exist on the internet (Citigroup reportedly worked to get them memory-holed off the Internet).

“There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take,” the Citigroup analysts wrote. “There are the rest, the ‘non-rich,’ the multitudinous many, but only accounting for surprisingly small bites of the national pie.”

Underscoring the accuracy of these predictions, a new UBS report finds that billionaires’ total wealth has more than doubled over the past ten years to $14 trillion.


In 2005 Citigroup Saw Canada, the U.S. & UK as "Plutonomies" - Economies Where Only the Rich Mattered.

Dougald Lamont, January 09, 2025

Their plan? Figure out how to make even more money from making the rich richer, and the poor poorer. Spoiler: Citigroup flamed out three years later….

Now, if you’re looking for some kind of morality in this tale, you should know Citigroup and its leaders managed to create the conditions for the 2008 Global Financial Crisis. They had lobbied for the 1990s-era repeal of the New Deal Era Glass-Steagal Act, which kept commercial banks and investment banks separate.

The “Plutonomy” is a study in Icarean Hubris. In the Global Financial Crisis, Citigroup crashed and received more in bailout money than it was worth;

“The U.S. Treasury extended a $45-billion credit line, and gave it a guarantee for $300 billion in "trouble assets" junk mortgages whose market price had fallen by 60 to 80 percent. Thic actions saved the bank and its bondholders, but Citigroup stock plunged belov a dollar by March 2009 as its equity value fell by more than 90 percent, to just $20 billion compared to $244 billion in 2006….

“Little of this note should tally with conventional thinking. Indeed, traditional thinking is likely to have issues with most of it. We will posit that: 1) the world is dividing into two blocs - the plutonomies, where economic growth is powered by and largely consumed by the wealthy few, and the rest. Plutonomies have occurred before in sixteenth century Spain, in seventeenth century Holland, the Gilded Age and the Roaring Twenties in the U.S. What are the common drivers of Plutonomy?….

4) In a plutonomy there is no such animal as "the U.S. consumer" or "the UK consumer", or indeed the "Russian consumer". There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take.

There are the rest, the "non-rich", the multitudinous many, but only accounting for surprisingly small bites of the national pie. 



Global power shift

Collapsing Empire: RIP ‘Overt Operations’ 

Kit Klarenburg, January 05, 2025 [Global Delinquents]

In recent months, a remarkable development in the Empire’s decline has gone almost entirely unnoticed. The National Endowment for Democracy’s grant database has been removed from the web. Until recently, a searchable interface allowed visitors to view detailed records of Washington-funded NGOs, civil society groups, and media projects in particular countries - covering most of the world - the sums involved, and entities responsible for delivering these initiatives. This resource has now inexplicably vanished, and with it, enormous amounts of incontrovertible, self-incriminating evidence of destructive US skullduggery abroad.

Take for example NED grant records for Georgia, the site of recent repeated colour revolution efforts, at the forefront of which were Endowment-bankrolled organisations. While still accessible via internet archives, they were deleted during the summer. Today, visitors to associated URLs are redirected to a brief entry simply titled “Eurasia”. The accompanying text describes in very broad terms the Endowment’s aims regionally and the total being spent, but the crucial questions of where and on what aren’t clarified….


Gaza / Palestine / Israel

The dream of a free Middle East is coming true 

[The Telegraph, via Naked Capitalism 01-06-2025]


Israel built an ‘AI factory’ for war. It unleashed it in Gaza. 

[Washington Post, via Naked Capitalism 01-06-2025]


Chris Hedges: Genocide — The New Normal 

[Consortium News, 01-08-2025]


New York Times rejects Quaker ad for calling Israel’s actions “genocide” 

[American Friends Service Committee, via Naked Capitalism 01-09-2025]


Oligarchy

Defining the Deep State 

Larry Johnson [via Naked Capitalism 01-11-2025]

[TW: a very interesting interpretation of the Deep State, which sees its origins in privatization of military and intelligence functions under Clinton, rather the assassinations and coups run by the CIA in the 1950s and 1960s.]


Praising Pozzo 

[Persuasion, via Naked Capitalism 01-11-2025]

...I worked in Corporate America for twenty years, and I can tell you with absolute certainty, [CEOs] are, for the most part, not people we should be revering. These people are not well. They are, quite often, batshit crazy. Most people who’ve suffered working for these folks know as I do that the C in “C Suite” stands for cray-cray. Or cuckoo. Or, increasingly, criminal. It is not that they have no moral compass, it’s that they do not want one. A moral compass is bad for business.

A biotech report from Goldman Sachs posed the question: “Is Curing Patients A Sustainable Business Model?” After all, they continue, one-shot therapies might be medically attractive, but they “offer a very different outlook with regard to recurring revenue versus chronic therapies.”

These are not healthy people.

A recent Senate probe revealed that Amazon—which earned $500 billion in 2023—manipulates injury data to make their warehouses appear safer, rather than spending on safer warehouses.

These people are not well….

What accounts for this? Here’s a clue:

Mark Zuckerberg, asked who he admires most, named Augustus. Caesar Augustus, who came to power by fomenting civil war and forming a military junta, who granted himself lifelong immunity from all crimes, who effectively made himself Censor so he could manipulate votes, who filled the Senate with loyalists who wouldn’t question him and who took control of the mint so he could control the production of money. What’s wrong, Mark, was Gandhi too obvious a choice? Jane Goodall not doing it for you? Jesus too blue-collar?

These are our heroes?

These are our role models?

These people may be better off in padded rooms than corner offices. That was the finding, incidentally, in a 2006 study of CEOs: fully 12% exhibited psychopathic traits, meaning psychopathy is somewhere around 12 times more common among senior management than among the general population, and about the same rate found in prisons….


The Truth About Musk, From His Biographer

[Proof, via The Big Picture January 05, 2025]

A viral Bluesky thread introduced tens of thousands around the world to a first glimpse of a forthcoming biography of Elon Musk. Here—in a single essay—is some of what the world just learned….

Understand first that Musk doesn’t believe in or care about education. Not at all. Not even a little bit. To the extent Musk has any core values, a dubious proposition indeed, this would be one: education of any kind is a waste of time. It’s one reason Musk now appears to be functionally media illiterate, functionally digitally illiterate, and lacking even the most basic knowledge about the world: certainly most of the knowledge we would expect from a high school graduate with even a nominal intellectual curiosity.

Instead of education—self- or otherwise—Elon believes in making money, and usually with the ideas of others and almost exclusively their labor. His aim is to use his dodgy skills as a hype man (like those of Donald Trump, more predicated on the idea that a sucker is born every minute than the flawed notion that he is especially persuasive or charismatic) to turn some money into more money, more money into obscene money, and obscene money into historic wealth that’s not just generational but history-making….

After he graduated from high school as an indifferent student, Elon first flamed out at University of Pretoria—a school he now tries to elide from his biography altogether—largely because he didn’t want to be in South Africa at all. He had contempt for his home country, not for the reasons you might hope (apartheid) but because he believed it inadequately resourced to provide for the enrichment of an already ultra-rich young white man. His dad has since made clear that it’s a family view that the reason South Africa couldn’t provide for the Musk boys in the way they demanded was because it had an emerging highly politically engaged Black population and emerging Black political class in the 1980s that would, in the 1990s, become a Black government Errol believed illegitimate and (yes, due to race) incompetent. 

 


The carnage of mainstream neoliberal economics

Monopoly Round-Up: Big Ag vs Make America Healthy Again 

Matt Stoller [BIG, via Naked Capitalism 01-06-2025]


Predatory finance

The Great Crypto Crash: Trump will usher in a speculative frenzy.

[The Atlantic, via Naked Capitalism 01-08-2025]

Having written about bitcoin for more than a decade—and having covered the last financial crisis and its long hangover—I have some sense of what might cause that boom and bust. Crypto assets tend to be exceedingly volatile, much more so than real estate, commodities, stocks, and bonds. Egged on by Washington, more Americans will invest in crypto. Prices will go up as cash floods in. Individuals and institutions will get wiped out when prices drop, as they inevitably will.

The experts I spoke with did not counter that narrative. But if that’s all that happens, they told me, the United States and the world should count themselves lucky. The danger is not just that crypto-friendly regulation will expose millions of Americans to scams and volatility. The danger is that it will lead to an increase in leverage across the whole of the financial system. It will foster opacity, making it harder for investors to determine the riskiness of and assign prices to financial products. And it will do so at the same time as the Trump administration cuts regulations and regulators.


Restoring balance to the economy

The Labor Movement Just Notched Two Big Wins” [The New Republic].

Timothy Noah, January 10, 2025 [The New Republic]

One so seldom has the opportunity to report good news about labor unions that when two good things happen in the space of 24 hours that’s a triumph. The first is a rebuke to the incoming Trump administration. The second is an unacknowledged favor to it (but, more importantly, to the nation as well).

Item One is that the Service Employees International Union, reversing a bad decision 20 years ago to disaffiliate with the AFL-CIO, is rejoining the labor federation. Even Andy Stern, who as SEIU president took the union out of the AFL-CIO and sought (in the end, unsuccessfully) to build a rival federation called Change to Win with the Teamsters and five smaller unions, said Wednesday that this is ‘an appropriate time to unite SEIU’s strength with other unions.’ The move will expand AFL-CIO membership from nearly 13 million to nearly 15 million. (Change to Win was a bust. It lost most of its affiliates, stopped calling itself a labor federation, and now operates as something called the Strategic Organizing Center.)

Item Two is that the International Longshoremen’s Association, or ILA, which represents dockworkers on the East Coast and in the Gulf of Mexico, reached a deal on a new contract, averting a second dockworker strike. The first strike, in October, lasted three days before a wage deal was reached under heavy pressure on management from the Biden White House, with further negotiations postponed until after the presidential election….


Big Landlord Settles With US, Will Cooperate In Price-Fixing Investigation 

[ars technica, via Naked Capitalism 01-08-2025]

[Yves Smith notes “This was fast for at least one defendant. See date on this article: US Justice Department accuses six major landlords of scheming to keep rents high Associated Press” ]




Disrupting mainstream economics

Crisis? What Crisis? A Video for Elon Musk on the Deficit 

Steve Keen, via Naked Capitalism 01-08-2025]


Economists Are in the Wilderness. Can They Find a Way Back to Influence?

[New York Times, via Naked Capitalism Water Cooler 01-10-2024]  

[Lambert Strether: “Never have I felt happier to know of Betteridge’s Law.”]


Bank of Japan research refutes the main predictions made by economists about the impacts of large bond-buying programs 

Bill Mitchell [via Naked Capitalism 01-08-2025]

[Yves Smith: “Important. It confirms a point many, including yours truly, have made repeatedly over the years: QE is not money printing and does not generate inflation.]


The Minimum Wage Claims You Keep Hearing Are Totally Fake. We Can Prove It.

[Drop Site, via The Big Picture January 05, 2025]

In September 2023, California passed a law to bring fast food workers’ minimum wage up from $16 to $20 an hour. A flurry of reports predictably followed from the likes of The Wall Street Journal, Employment Policies Institute, and the Hoover Institution claiming that restaurants and other businesses were already laying off workers based on the new law. This December, Ohanian retracted his claim; Hoover retracted 8 additional Ohanian claims.  


Health care crisis

America’s Health Insurance Grinches: A Scathing Indictment of “Market” Economics

[Institute for New Economic Thinking, via The Big Picture January 05, 2025]

The country’s flawed insurance model, driven by greed, leads to inefficiency, inequality, and denied care – a colossal scam that has sparked fury across the nation.


Health Insurers Limit Coverage of Prosthetic Limbs, Questioning Their Medical Necessity

Michelle Andrews [KFF Health News, via Naked Capitalism 01-07-2025]


Information age dystopia / surveillance state

A Day in the Life of a Prolific Voice Phishing Crew 

[Krebs on Security, via Naked Capitalism 01-10-2025]


Climate and environmental crises

Earth shattered heat records in 2023 and 2024: is global warming speeding up? 

[Nature, via Naked Capitalism 01-08-2025]


Climate Models Can’t Explain What’s Happening to Earth 

[Atlantic, via Naked Capitalism 01-08-2025]



The Architects Of L.A.’s Wildfire Devastation 

Katya Schwenk, January 10, 2025 [The Lever]

Developers and real estate interests crushed efforts to limit development in high-wildfire-risk areas — including in L.A. neighborhoods now in ashes.


The Unstoppable Rise of Energy Realism 

Ruy Teixeira [The Liberal Patriot], via Naked Capitalism Water Cooler 01-10-2024]

“For the last decade, Democrats and the left have ever more eagerly embraced a climate catastrophist narrative on energy policy…. So what have the Democrats gained from their fervent advocacy for climate catastrophism? Not much…. Nor have Democrats been rewarded with a political bonanza for their embrace of climate catastrophism. Quite the contrary. They just lost the presidential election to an opponent who says “drill, baby, drill” and whose priority is cheap, abundant energy—not clean energy…. Can Democrats wean themselves away from climate catastrophism and their obsession with net zero? It could be difficult. Their net zero commitment stems from the extremely high priority placed on this goal by the educated elites and activists who now dominate the party. These elites and activists—unlike working-class voters—believe that nothing is more important than stopping global warming since it is not just a problem, but an ‘existential crisis’ that must be confronted as rapidly as possible to prevent a global apocalypse.” 


Democrats' political malpractice

Opening the DNC’s Black Box: Why we’re publishing a previously undisclosed list of all 448 members of the Democratic National Committee

Micah L, Sifrey, January 10, 2025 [The American Prospect]

Three weeks from now, the Democratic National Committee will convene in National Harbor, Maryland, to elect a new party chair and other national officers. For Democrats reeling from the defeat of Kamala Harris, this will be their first opportunity to anoint a fresh face for the national party to replace Jaime Harrison, who is stepping down.

A new chair, particularly one elected via an open vote and not merely picked by an incumbent president, as is the party’s tradition, could also change how Democrats operate at both the national and state level…. 

But who will make this decision? Officially, it’s a secret…. 

...Michael Kapp, a DNC member from California who was first elected to that position by his state party’s executive committee in 2016, told me the list isn’t public ‘because it’s the DNC—it’s a black box.’ He told me that leadership holds tightly to the list to prevent any organizing beyond their control. Today, we’re going to open up the DNC’s black box.

The list we are publishing was leaked to me by a trusted source with long experience with the national party. Like Kapp, this person thinks it’s absurd that the party’s roster of voting members is secret. Indeed, since there is no official public list, each of the candidates running for chair and other positions has undoubtedly had to create their own tallies from scratch—making it very likely our list comes from a candidate’s whip operation.” ….

“There are incentives for the DNC to keep us [members] apart,” Kapp added. “So we can’t organize, so we can’t talk to one another, so we can’t grow and learn.” Most crucially, “so we can’t organize against, or, if we wanted, in favor of whatever leadership wanted. By keeping us apart, they’re really able to organize and control these meetings from the top down.”

The DNC member list also matters because of ongoing efforts to get Democrats to strengthen their internal ethics rules—some of these party insiders also make a cushy living as corporate lobbyists—and try to reduce the role of dark money in Democratic election battles. Two and a half years ago, during its summer meeting, the DNC’s Gang of 448 voted to give itself the power to overrule any amendments to its bylaws that a national party convention, a much broader body with greater public input, might vote to enact. As Akela Lacy reported for The Intercept at the time, paid DNC staff whipped votes to ensure passage of this change, leading voting member Jessica Chambers of Wyoming to call the DNC “the least democratic organization that I’m involved with.”


Trump’s transactional regime

We’ve Never Been Here Before: The Zero-Accountability Presidency

Michael Tomasky, January 10, 2025 [The New Republic]

To say we’re in an unprecedented place is vastly understating it. We are in a place where no proper democracy has ever been or should ever be. We are about to have a president for whom there are utterly and literally no expectations. No one expects him to behave well. No one expects him to uphold normal standards of decency. If he muses one day about bombing London, or bombing Vancouver, or for that matter bombing Detroit, he will surprise no one. The panelists on The Five will just joke that there are certain sections of Detroit that a good bombing would only improve. Ha ha.


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

The GOP Is Rewriting What It Means to Be a Person

Susan Rinkunas, January 8, 2025 [The New Republic]

...The Fourteenth Amendment was intended to extend full citizenship to formerly enslaved Black people, and it undergirds the right of all Americans to be treated equally under the law, no matter who they are or in which state they reside. Yet over the past year, conservatives have been increasingly open in their beliefs that pregnant women, transgender adolescents, affirming parents of trans kids, and immigrants are not legally entitled to the Fourteenth Amendment’s protections—all while arguing that fertilized eggs are. Republicans are using strategic litigation to effectively rewrite the Fourteenth Amendment to prioritize conservative white men and embryos above and beyond everyone else. They are warping something used to grant rights into a bludgeon to take them away, and are redefining who counts as a person in the United States.


DOGE is dispatching agents across U.S. government 

[Washington Post, via Naked Capitalism Water Cooler 01-10-2024]

“Elon Musk and Vivek Ramaswamy are sending representatives to agencies across the federal government, four people familiar with the matter said, to begin preliminary interviews that will shape the tech executives’ enormous ambitions to tame Washington’s sprawling bureaucracy. In recent days, aides with the nongovernmental [but not a corporation, not a 501(c)(3), not a private club, so what?] ‘Department [sic] of Government Efficiency’ tied to [which means?] President-elect Donald Trump’s transition team have spoken with staffers at more than a dozen federal agencies, said the people, who spoke on the condition of anonymity because they were not authorized to speak with the media. The agencies include the Treasury Department, the Internal Revenue Service and the departments of Homeland Security, Veterans Affairs, and Health and Human Services, the people said.” Spoken under what authority? Elon’s mom? More: “At the same time, Musk and Ramaswamy have significantly stepped up hiring for their new entity [Oh, DOGE is an entity], with more than 50 staffers already working out of the offices of SpaceX, Musk’s rocket-building company, in downtown Washington, two of the people said. DOGE aims to have a staff of close to 100 people in place by Trump’s inauguration on Jan. 20, they said. While much about DOGE remains unclear [that is, we don’t know under what authority] — including who is paying the salaries of these staffers or exactly how DOGE representatives work with the formal transition team — the agency outreach reflects intensifying efforts by Musk and Ramaswamy to propose what they say will be “drastic” cuts to federal spending and regulations.” • One wonders what the DOGE onboard process is like, and whether, for example, it takes conflict of interest into account.


The Embarrassing Riffraff Of Evangelical Christianity Sees Señor T As God’s Wrecking Ball

Howie Klein, January 11, 2025 [downwithtyranny.com]

...according to a new essay by Stephanie McCrummen in The Atlantic, The Army of God Comes Out Of The Shadows, “the Christians who remain are becoming more radical... 42 percent of American Christians agreed with the statement ‘God wants Christians to stand atop the ‘7 Mountains of Society,’  according to Paul Djupe, a Denison University political scientist who has been developing new surveys to capture what he and others describe as a ‘fundamental shift’ in American Christianity. Roughly 61 percent agreed with the statement that ‘there are modern-day apostles and prophets.’ Roughly half agreed that ‘there are demonic principalities and powers who control physical territory,’ and that the Church should ‘organize campaigns of spiritual warfare and prayer to displace high-level demons.’”

Djupe told McCrummen that these radical Christians “are taking on these extreme beliefs that give them a sense of power— they believe they have the power to change the nature of the Earth. The adoption of these sort of beliefs is happening incredibly fast [and] have seeped into Trumpworld, influencing the agenda known as Project 2025, as well as proposals set forth by the America First Policy Institute. A new book called Unhumans, co-authored by the far-right conspiracy theorist Jack Posobiec and endorsed by J. D. Vance, describes political opponents as ‘unhumans’ who want to ‘undo civilization itself’ and who currently ‘run operations in media, government, education, economy, family, religion, and arts and entertainment’— the seven mountains. The book argues that these ‘unhumans must be ‘crushed. Our study of history has brought us to this conclusion: Democracy has never worked to protect innocents from the unhumans,’ the authors write. ‘It is time to stop playing by rules they won’t.’”….


Is There Something More Radical than MAGA? 

[Politico, via The Big Picture January 05, 2025]

JD Vance Is Dreaming It. In a candid series of conversations, Vance revealed an ominous philosophy behind his first year in office…. 

“The thing that I would like to persuade people most is that [too] many people think the problem with the country and the world right now is, like, Klaus Schwab in a private room figuring all this shit out,” he said, name-checking the proudly plutocratic patron of the World Economic Forum in Davos. “The problem with the elites is not that they’re malevolent, it’s that they’re stupid. I think that recognition that incompetence and stupidity explain a lot more than malevolence is …” He trailed off, thinking.


The (anti)Federalist Society assault on the Constitution

Scoop: Heritage Foundation plans to ‘identify and target’ Wikipedia editors 

[Forward, via Naked Capitalism 01-10-2025]


Civic republicanism

[TW: Stewartson provides significant and important background on elites such as Musk and Thiel, but I think he errors by focusing on malevolence as a primary driver of these elites’ behavior and policies. I don’t think it is malevolence as much as it is our failure as a culture to articulate, defend, and perpetuate the ideas of civic republicanism. I think what we are about to experience under the Trump regime is how a rejection of ignorance of the governing philosophy of republicanism results in policies and outcomes so awful and terrible, that they appear to be deliberately evil. It is worth keeping mind that Saint Augustine defined evil very simply as “the absence of good.” This has always been the fatal flaw of economics that held market outcomes to be the best means for allocating society’s resources , and moreover argued that any moral and state interference in those outcomes were wrong and unwanted. ]


Op-Ed By the Devil: Peter Thiel’s Yarvinite victory lap is a warning to people who want reality back

Jim Stewartson, January 11, 2025 [mind-war.com]


Eugenics Cabinet: The “Hyper-Racist” Plans of the PayPal Mafia 

Jim Stewartson, Dec 17, 2024 [mind-war.com]

How Peter Thiel, Elon Musk and Steve Bannon are dragging America into Curtis Yarvin’s barely concealed Nazism