Yves here. I suppose it is not surprising that Nancy Pelosi is stopping to new “step on the poors” lows despite getting Versailles 1788 wake-up calls like having her house and her office vandalized. Pelosi has kicked former law professor Katie Porter off the House Financial Services Committee. Porter has been singularly effective in using hearings to put a spotlight on inequality and bank industry abuses. Odds are decent that Pelosi’s rebuff is payback for this exchange, which even the...Read More »
Yves here. Biden’s nominees have skewed towards the awful, particularly on the foreign policy front. But his plan to install Victoria “Fuck the EU” Nuland at State is a standout. For those of you new to this site and not familiar with Nuland’s sorry history, this post gives an overview of her role in fomenting the coup in Ukraine and in putting relations with Russia on a Cold War footing. The authors encourage readers to call their Senators and urge them to vote against her nomination. And...Read More »
By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The pandemic has caused people to spend more time in their homes, inflicting greater wear and tear on their electronics and other household appliances. In previous right to repair posts, I’ve stressed the environmental benefits that follow both from reducing elections waste, as well as not producing unnecessary items in the first place. When devices...Read More »
Stunning Brick & Mortar Meltdown, Manhattan Style: The Collapse of Retail Rents Before & Now During the Pandemic
By Wolf Richter, editor of Wolf Street. Originally published at Wolf Street. In the major shopping corridors in Manhattan, where sidewalks are lined by ground-floor shops, retail rents have been declining for years – and not just by a little, but by 20%, 30% or even over 40%, amid ballooning vacancies. The brick-and-mortar retail meltdown, Manhattan style. Then came the Pandemic. In the spring during the lockdown, as hospitals and morgues were overwhelmed, the market for street-level retail...Read More »
Flint Water Crisis: Michigan AG Poised to Indict Ex-Gov Snyder, Other Officials, Later This Week, But on What Charges?
By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The Associated Press reports in Michigan plans to charge ex-Gov. Snyder in Flint water probe that former Michigan Rick Snyder will later be criminally charged for actions related to the Flint water crisis. The AP report is sparse on key details, as are all the follow-on reports I have seen. I turn to the Detroit News account, Michigan plans to charge...Read More »
Calibrating the seriousness of the short-lived occupation of the Capitol by Trump-pumped fanboys is made difficult by the headline elements. A departing President calling for a march on the legislature in a last-ditch effort to stop his electoral loss from being certified. Members of Congress photographed cowering in front of their seats before fleeing to safety. Rioters storming the Capitol, breaking Capitol windows, looting. What Happened, As Best as We Can Tell Now The ITV video below...Read More »
Yves here. In this “start of 2021” chat on Renegade, Micheal Hudson focuses a bit more than usual on politics, particularly on the way the left gets the shaft in elections. But he also focuses on the grim results that are virtually baked in for the US this year: rising homelessness, deteriorating government services, more diseases and more crime. In other words, the world of neoliberalism, coming to your town ahead of schedule thanks to Covid. His part of the talk starts at 13:00 [embedded...Read More »
The ‘Gateway Drug to Corruption and Overspending’ Returns to Congress. Are Earmarks Really That Bad?
Yves here. The Democrats love presenting themselves as more virtuous than the Republicans, but can’t help themselves from showing their true colors, as they are with earmarks. By Diana Evans, Professor of Political Science, Trinity College. Originally published at The Conversation Congressional earmarks – otherwise known as “pork barrel spending” – may be coming back. For decades, earmarks paid for pet projects back in lawmakers’ districts, with the tacit aim to earn those lawmakers votes. In...Read More »
Google Rigged Its Own Advertising Auction In Favor of Facebook for a Price (and What That Means for the So-Called Free Market)
By Lambert Strether of Corrente. Two days before New Year’s, The Wall Street Journal released the following story, “Inside the Google-Facebook Ad Deal at the Heart of a Price-Fixing Lawsuit,” which I think should have been a blockbuster, but wasn’t, possibly because of the holidays, possiblly because everybody already thinks they’re both crooks. In this brief post, I’ll first extract the key points of the case, and then consider what Google’s actions imply for the idea that we live in a “free...Read More »
Yves here. Even though Richard Murphy’s look at 2021 is UK-oriented, a lot of his observations apply to the US. If anything, the breakdown in health care has the potential to be even more severe than what is underway at the NHS. See the new ProPublica story, “Those of Us Who Don’t Die Are Going to Quit.” It’s about the VA, but you have similar scenes underway at under-resourced hospitals in high Covid areas. The US, unlike the UK, is facing an eviction wave that is set to increase...Read More »