Wednesday , October 16 2019
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Naked Capitalism

The People’s Money (Part 1)

By J. D. Alt, author of The Architect Who Couldn’t Sing, available at Amazon.com or iBooks. Originally published at www.realprogressivesusa.com “Reserves”—that esoteric term in money-talk that postures to explain everything but explains nothing at all—have been much in the news of late. The Wall Street Journaleven tried, recently, to explain what they are! They didn’t do such a great job. That’s unfortunate because, properly explained and understood, Reserves hold a big key to the political...

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Links 10/16/19

Yves here. Apologies for not being back to normal programming. I am now dealing with a family mess (not health related, but there is some serious bad shit going on and it will take a bit of effort to get things under control). U.S. Procurement Won the Civil War, Today It Would Lose A War to China Matt Stoller. His book Goliath is out! Lithium will fuel the clean energy boom. This company may have a breakthrough To save climate, tax carbon at $75 per ton: IMF PhysOrg Family of six living in...

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Trump’s Border Wall is a Multi-Billion Dollar Corporate Handout

By Nick Buxton, a communications consultant, whose publications include “Civil society and debt cancellation” in Civil society and human rights (Routledge, 2004) and “Politics of debt” in Dignity and Defiance: Bolivia’s challenge to globalisation (University of California Press/Merlin Press UK, January 2009) and Todd Miller, the author of Border Patrol Nation: Dispatches From the Front Lines of Homeland Security, who has written on border and immigration issues for the New York Times, Al...

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Elizabeth Warren Wants Green Trade Deals. What Does That Mean?

Yves here. It appears that “green trade deals” have become another bright shiny policy object to dangle before voters. So it’s useful for someone with cred to throw down a marker. The source for this story, Ben Beachy, was formerly with Public Citizen, where he was one of the key working oars, along with Lori Wallach, on their terrific, well-researched and documented push against ISDS. Their work was key to proving how damaging those provisions were to national sovereignity (and in...

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Live Blog: Democrat Presidential Primary Debate #6 in Westerville, Ohio

By Lambert Strether of Corrente. The debate begins at 8:00pm ET, one-half hour from now. It is being held at Otterbein University in Westerville, OH, near Columbus[1]. The debate is titled “The CNN/New York Times Democratic Presidential Debate,” which is vile clickbait-driven corporate branding of an electoral function that ought to be returned to a non-profit like the League of Woman Voters, who did a fine job on the issues without a stage-set with all the class of The Price is Right, a...

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2:00PM Water Cooler 10/15/2019

By Lambert Strether of Corrente. Trade “Trade Woes Push IMF Global Growth Outlook to Decade-Low of 3%” [Bloomberg].”The International Monetary Fund made a fifth-straight cut to its 2019 global growth forecast, citing a broad deceleration across the world’s largest economies as trade tensions undermine the expansion…. The forecast for this year would be the weakest since 2009, when the world economy shrank, as the fund chopped projections from the U.S. and Europe to China and India.” “China is...

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How to Know Which Impeachment Polls to Believe – and Which to Skip

Yves here. This post gives some generally good guidance about interpreting polls, using impeachment as the topic of interest. I would add: 1. As indicated, poll results are very sensitive to the formulation of the question. But it would have been nice to provide illustrations. Some studies have found that seemingly minor changes can shift results by ten points. 2. As readers have discussed, polling is in a crisis due to how few people use landlines and answer calls from unknown parties. Pew...

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Link 10/15/19

Yves here. Thanks so much for your patience with the fundraiser! It is always stressful for us, since we wonder if you still love us or not, but this one turned out very well so we are all pleased and relieved. However, I am a bit fried between this and the news flow (as in the hysteria not only being dialed to 11 but also being sustained), so forgive me for needing to regroup a bit. Be sure to tune in this evening when Lambert will DJ an open thread (I initially typed “threat,” hhm) for...

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Making Profit Should Not Now Be the Primary Goal of a Business: Being Net-Zero Carbon Should Be

By Richard Murphy, a chartered accountant and a political economist. He has been described by the Guardian newspaper as an “anti-poverty campaigner and tax expert”. He is Professor of Practice in International Political Economy at City University, London and Director of Tax Research UK. He is a non-executive director of Cambridge Econometrics. He is a member of the Progressive Economy Forum. Originally published at Tax Research UK The Guardian has reported as part of its Polluters series...

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California’s New Transparency Law Reveals Steep Rise In Wholesale Drug Prices

Yves here. If you still don’t believe that drug companies are price-gouging in America, the figures in this story should convince you. The counterargument, as you will see below, is that the wholesale prices don’t reflect what various end customers pay due to the presence of various other middlemen. However, the distribution system is so complex that you’d need complete data capture to draw a definitive picture. And it’s not that other countries don’t have that. Japan even in the 1980s did...

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