Wednesday, November 9, 2022
HomeEconomics2:00PM Water Cooler 11/9/2022 | bare capitalism

2:00PM Water Cooler 11/9/2022 | bare capitalism


By Lambert Strether of Corrente

Hen Track of the Day

European Turtle-Dove, Kelling Heath, Norfolk, England, United Kingdom.

* * *

Politics

“However what’s authorities itself, however the best of all reflections on human nature?” –James Madison, Federalist 51

“Right here’s meals for thought, had Ahab time to assume; however Ahab by no means thinks; he solely feels, feels, feels” –Herman Melville, Moby Dick

“So most of the social reactions that strike us as psychological are in actual fact a rational administration of symbolic capital.” –Pierre Bourdieu, Classification Struggles

Biden Administration

“Employees adjustments are coming to the White Home. Will Klain be a part of them?” [Politico]. “Based on folks conversant in the inner deliberations, Klain was the foremost advocate for Biden seizing on the July 4 vacation to carry an ‘Independence from Covid-19’ occasion on the South Garden. He rejected enter from different members of the Covid staff who have been anxious about declaring victory prematurely, though Biden did embrace a qualifier, that his phrases have been “to not say the battle in opposition to COVID-19 is over.’” • Ron, good job. And electorally, it was a superb job, because the midterms present. As I preserve saying, crucial of the “lesssons realized” from Covid is that our ruling class can slaughter one million residents with none riots. That’s an vital lesson, and Ron was very a lot part of that.

2022

* * *

Democracy was on the poll, and received. From the top of the Council on Overseas Relations:

Enable me to translate: Now the Democrats can return to fomenting warfare with nuclear powers, normalizing pandemics, and union-busting. Mates, there’s excellent news tonight!

“Senator Large Sweaty Lunk” [Atrios, Eschaton]. “I spotted I didn’t even have any predictions for yesterday. I don’t imply I did not BLOG them, I imply I simply didn’t have any in my head in any respect.” • So I wasn’t the one one. For individuals who got here in late, Atrios was my blogfather, and launched me to running a blog in 2003 or so (for which I shall be ceaselessly grateful). The subject: Democratic politics! So it’s a curious knowledge level for some future historian that, after so a few years — 2022 – 2003 = 19 (!!) — we each ended up in the identical place, on the identical election, and on the identical day.

* * *

Right here is the state of play from FiveThirtyEight:

“Battle for Senate management a toss-up with 4 seats left to be known as” [CBS]. “CBS Information characterizes the races in Georgia and Nevada as toss-ups, with Georgia possible headed for a run-off in December between Sen. Raphael Warnock and Republican challenger Herschel Walker. CBS Information characterizes Arizona as leaning Democrat. Alaska, the place three candidates are on the poll, had not but been known as early Wednesday.”

“Home Midterm Elections 2022” [NBC]. “Although NBC Information can not venture management of the Home presently, the Resolution Desk has launched its estimate for the U.S. Home of Representatives as an entire, which displays essentially the most possible consequence for partisan management. To reach on the Home Estimate, the NBC Information Resolution Desk calculates the likelihood of a Democratic, Republican or third-party victory in every of the 435 particular person Home races primarily based on pre-election analysis. On election night time, election analysts look at all of the accessible vote knowledge in actual time, adjusting the chances for every Home race accordingly. Based mostly on these chances, NBC Information’ Resolution Desk then calculates essentially the most possible consequence for management of the chamber and supplies a margin of error plus or minus the variety of seats that would nonetheless be received by both get together. The Resolution Desk will venture partisan management of the U.S. Home primarily based on this estimate after we are at a minimal of 99.5% assured within the consequence.” • The projection is R: 222, D: 213, FWIW. (What I wished was a easy listing of undecided Home races, however a fast search didn’t carry it to gentle. Readers?

* * *

“MAGA Candidates Flounder in Midterms” [National Review]. “President Trump’s handpicked and endorsed candidates largely underperformed or outright misplaced their midterm contests on Tuesday, deflating the previous president’s standing as a celebration kingmaker and sure 2024 GOP presidential nominee. Trump’s affect was felt throughout the board: his hand-picked Senate candidates, political novices who secured their respective nominations largely on the energy of his endorsement, drastically underperformed expectations. Home Republican challengers and incumbents who embraced his election denialism — and gubernatorial candidates who did the identical — confronted related struggles…. [H]is poor displaying in essential battleground states has unsettled many Republicans. Florida governor Ron DeSantis’s robust efficiency will place him nicely to problem Trump if he decides to enter the race.” • Unhappy to see the Nationwide Overview clambering onto the bandwagon of a short-torso-ed vulgarian like DeSantis.

“Democrats’ Elevation Of Election Deniers Labored” [HuffPo]. “All six of the election-denying candidates on the poll whom Democrats boosted ― three gubernatorial candidates, two Home candidates and a Senate candidate ― misplaced, most of them resoundingly. The technique was met with scorn and incredulity from ‘by no means Trump’ Republicans. Different Democrats from throughout the get together’s ideological spectrum stated the technique was unwise, immoral or each. Thirty-five former Democratic elected officers signed a letter suggesting the get together was taking part in with hearth.” • Effectively, it labored this time, so I assume we’ll see extra of it.

* * *

“Key takeaways: Democrats keep away from Biden backlash and maintain their very own in 2022 races” [NBC]. “With Trump out of workplace for 2 years, one of many huge questions of the 2022 cycle is whether or not the well-educated suburbs that deserted the GOP and voted for Democratic candidates in latest cycles would persist with Democrats or flip again. They look like staying put. Whether or not it’s the booming Atlanta metropolitan space, the Philadelphia suburbs, the D.C. suburbs or northern Virginia, the red-to-blue tendencies are persisting, with college-educated voters exhibiting little need to return to the Republican tent.”

“‘No Republican blowout’: our panel reacts to the preliminary US midterm outcomes” [Guardian]. “It’s now overly clear to everybody that Trump is each a necessity within the primaries and a legal responsibility within the elections. Everybody however Donald Trump, that’s.”

“Biden Sidesteps Purple Wave, Surpasses Obama’s Midterm Efficiency” [RealClearPolitics]. “Barack Obama noticed his get together lose 63 Home seats and 6 Senate seats in 2010. Former President Clinton in 1994 misplaced 54 within the Home and eight within the Senate. Biden has prevented something near both destiny. The president did it, partly, by staying out of the best way.”

“Measures to Defend Abortion Rights Triumph on Tuesday” [Bolts]. “Voters in California, Michigan, and Vermont on Tuesday adopted constitutional amendments that enshrine abortion rights into their state constitutions. The referendums got here in response to the U.S. Supreme Court docket’s Dobbs ruling, which in June overturned federal protections for abortion.” • Federalism!

* * *

GA: “Abrams concedes to Kemp in Georgia governor’s race” [Axios]. “Abrams turned a nationwide political determine throughout the 2018 race and that focus helped speed up her powerhouse fundraising capabilities.” • Cash thrown up within the air and set on hearth. As a result of that’s what “rising stars” do….

ME: “Janet Mills beats Paul LePage for 2nd time period as Maine’s governor” [Bangor Daily News]. “Mills had 53.6 % of votes to LePage’s 44.3 %… It was the primary time LePage has ever misplaced an election going again to his days on the Waterville Metropolis Council. He issued a press release on Wednesday afternoon saying he accepted the outcomes. At his election night time get together in Lewiston round 10:50 p.m., he stated ‘the election doesn’t look very nicely’ after which gave a defiant speech hammering Mills. He addressed her by saying he hoped her second time period was higher than her first and known as her ‘an elitist’ and stated ‘America wants higher than people who find themselves not caring for the folks they govern.’ ‘We missed the message,’ LePage lamented. ‘It’s about abortion, not about heating oil.’” • Hmmm.

NY: “Home Democrats’ marketing campaign chief concedes to Lawler in beautiful loss” [The Hill]. “Rep. Sean Patrick Maloney (N.Y.), the top of Home Democrats’ marketing campaign arm, conceded his race on Wednesday in opposition to state Assemblyman Mike Lawler (R), a serious blow to the get together and a surprising defeat for the person charged with propelling different Home Democrats to victory.” • Maloney is the dude who muscled one other Democrat out of his personal district after a reapportionment, so it will be hilarious if the Democrats misplaced the Home by this one vote.

PA: I’m hoisting this remark from final night time’s open thread, frankly to preen somewhat:

PA known as for Fetterman:

I don’t anticipate something from Fetterman on coverage, however I feel his race was very fascinating from a technical perspective for 2 causes:

1) Use of social media. You’ll be able to’t name a social media marketing campaign sensible till the candidate wins, however Fetterman did, so now I’ll. (a) Fetterman used social media to introduce Oz to Pennsylvania, in essence arguing/displaying/meming that Oz was actually from New Jersey. This marketing campaign was so infectious I needed to cease myself from piling on. It additionally had the good benefit of being true. Tweets and memes are one thing the nationwide press can concentrate on, and that’s what they did, with the impact that (b) when Fetterman had his stroke, his social media turned a vivid shiny bauble for the press to concentrate on, which is precisely what they did. Whoever ran Fetterman’s social media marketing campaign could have many alternatives henceforth.

Extra importantly, (2) Fetterman’s “each county” technique was vital and non-stupid/non-corrupt Democrats, if any, will emulate it. (a) Fetterman’s technique was to choose up Republican voters on the margin in Purple counties (of which there are a lot of, many in Philadelphia). So he visited them. This technique labored. When Fetterman had his stroke, he was, because it have been, pre-insulated[1] from regardless of the nationwide press and the Oz marketing campaign may say. Folks had seen him, and felt they knew him. There are a lot of individuals in Pennsylvania, nonetheless by customized and apply an industrial state, who’ve had medical points and labored by them and are available again from them. I consider that was in play right here. (This concept additionally makes the late visits by parachuted in Democrat celebrities irrelevant, which recommends it in my eyes.)

Fetterman’s “each county” technique jogs my memory of Howard Dean’s “50 state” technique, additionally profitable. (It’s value noting that as quickly as Obama and Rahm Emmanuel took energy, they abolished the technique and defenestrated Dean (with the outcome, IMNSHO, that Dean threw within the towel, stated “[family blog] it, I’m in it for the cash” and tragically turned the corrupt hack he’s in the present day. This occurs so much with Democrats. It’ll subsequently be fascinating to see if the “each county” technique is erased, or highlighted, within the coming days.

Right here’s one metric of success for the “each county” technique:

(Be aware additionally that Democrat facehuggers strategists and consultants get commissions from media buys. Each Fetterman’s use of social media and the “each county” technique take cash out of their pockets. It will likely be fascinating to see which media figures function on their behalf within the protection.)

As well as, Fetterman’s victory comes because the expense of the Pennsylvania Democrat institution and the ghouls within the nationwide press, an consequence that makes me very glad.

If Fetterman’s “each county” technique is adopted by extra Democrats — heck, extra Republicans — I feel that may vastly enhance politics on this nation. Do as Chris Arnade would do; stroll round. Get out of the bubble. (Right here I’m pondering of the World Battle I British workers officer who went to the entrance, and broke down in tears when he truly noticed the mud that he and his fellow officers had despatched the troops out into, again within the Chateau.)

So I’m glad. (Readers will recall that on this remark I’m mainly recapitulating every little thing I’ve stated in regards to the technical traits of the Fetterman marketing campaign for the final 12 months. That makes me glad too.)

Additionally, Dr. Oz is a puppy-killing charlatan. From New Jersey.

NOTE I must also point out that Fetterman in essence embedded himself in Braddock. I’n unsure that’s potential for many candidates (and right here we point out Fetterman’s household cash). I might additionally prefer to know extra in regards to the position of Fetterman’s spouse, Gisele (with one “l”). She did a really creditable job as a marketing campaign surrogate with no expertise. (I additionally marvel, speculating wildly, if she had something to do with the social media technique, since no person has come ahead, as of this date, to take credit score for it.)

NOTES

[1] It’s additionally potential that our horrid “debate” format, which needs to be abolished and handed again to the League of Ladies, actually tripped Fetterman up, and that his native appearances went higher, and that the “each county” technique primed voters to simply accept this:

2024

“When Trump Publicizes Candidacy, Watchdog Will File Riot Disqualification Problem” [HuffPo]. “‘The proof that Trump engaged in revolt is overwhelming,’ Noah Bookbinder, president of Residents for Duty and Ethics in Washington, stated in a press release final week. ‘We’re prepared, prepared and capable of take motion to ensure the Structure is upheld and Trump is prevented from holding workplace.’ Part 3 of the 14th Modification, handed after the Civil Battle, bars any officers who’ve taken an oath of workplace to defend the federal government from reelection in the event that they “engaged in revolt or rebel” in opposition to the federal government — or have ‘given assist or consolation to the enemies thereof.’ CREW despatched a letter to Trump on Thursday alerting him to the deliberate problem if he declares his candidacy for the 2024 GOP presidential nomination. ‘CREW believes you might be barred from holding workplace Underneath Part 3 of the Fourteenth Modification since you engaged in revolt in opposition to the federal government you swore to defend,’ states the letter. ‘By summoning a violent mob to disrupt the transition of presidential energy mandated by the Structure after having sworn to defend the identical, you made your self ineligible to carry public workplace once more.’”

“5 early takeaways from the midterms” [The Hill]. “No different Republican had anyplace near nearly as good an evening because the Florida governor. His reelection to a second time period was anticipated. However the margin was resounding — round 20 factors over his Democratic opponent, former Rep. Charlie Crist. To place that in context, DeSantis received the governorship 4 years in the past by lower than a single level, and former President Trump carried the Sunshine State two years in the past by about 3 factors. The result’s precisely what DeSantis’s boosters wished when it comes to proving his electability as the main focus begins to shift to the 2024 presidential race. In that regard, he was additionally helped by the truth that Tuesday’s outcomes added as much as a mediocre consequence, at finest, for Trump. A number of the different contours of DeSantis’s win have been particularly vital, not least that he carried the populous and closely Hispanic Miami-Dade County. That’s one motive why DeSantis’s boast, in his victory speech, that he and his backers had ‘rewritten the political map’ wasn’t simply hyperbole.” • 

Democrats en Déshabillé

Affected person readers, evidently individuals are truly studying the back-dated publish! However I’ve not up to date it, and there are a lot of updates. So I must try this. –lambert

I’ve moved my standing remarks on the Democrat Get together (“the Democrat Get together is a rotting corpse that may’t bury itself”) to a separate, back-dated publish, to which I’ll periodically add materials, summarizing the addition right here in a “stay” Water Cooler. (Hopefully, some Bourdieu.) It seems that defining the Democrat Get together is, in actual fact, a tough drawback. I do assume the paragraph that follows is on level all the best way again to 2016, if not earlier than:

The Democrat Get together is the political expression of the category energy of PMC, their base (lucidly defined by Thomas Frank in Hear, Liberal!). ; if the Democrat Get together didn’t exist, the PMC must invent it. . (“PMC” modulo “class expatriates,” after all.) Second, all of the working components of the Get together reinforce one another. Depart apart characterizing the relationships between components of the Get together (ka-ching, however not solely) these components comprise a community — a Flex Web? An iron octagon? — of funders, distributors, apparatchiks, electeds, NGOs, and miscellaneous mercenaries, with property within the press and the intelligence group.

Be aware, after all, that the category energy of the PMC each expresses and is proscribed by different courses; oligarchs and American gentry (see ‘industrial mannequin’ of Ferguson, Jorgensen, and Jie) and the working class spring to thoughts. Suck up, kick down.

* * *

Republican Funhouse

Realignment and Legitimacy

“‘I wished to put on a purple ball robe with a crimson silk cape” [Scalawag]. “I like the pomp and circumstance of voting even when the refrain of horns that accompanies my balloting is simply in my head, and my ballot website is a dingy concrete-block group corridor…. As a lot as I do know inherently that the electoral system leaves so many behind—the Black, the queer, the nontraditional household, the immigrant, the agricultural, these with data, the insurance-less, these of us in states that don’t “matter”—a lifetime of civic training indoctrinated me to consider the act of exercising this proper is my highest operate as a citizen. And I wished to decorate for it. I’m sentimental like that. I like the Black Southern tradition of voting, displaying up and displaying out in your Sunday finest. I like the older males crushing their hats of their arms after they cross the ballot threshold, the ladies with tweedy fits and feathers of their female fedoras, my father dressing to vote earlier than work together with his newsboy hat, Members Solely jacket and wide-leg slacks.”

“Survey finds growing variety of Protestants need their church to be politically homogenous” [Christian Post]. “Based on a research launched Tuesday by Lifeway Analysis, a company that surveys ongoing tendencies in church ministries, 50% of non-Catholics surveyed within the U.S. want to attend a politically homogenous church, whereas 41% disagreed and 10% have been unsure. At the least 55% of contributors consider they’re attending a church that shares their political beliefs. Fewer than 1 / 4 disagreed (23%) or aren’t positive (22%). Lifeway Analysis carried out the survey on-line from Sept. 19-29, utilizing a nationwide pre-recruited panel of over 1,000 People. The research’s margin of error was +/- 3.3%, with a 95% confidence degree. ‘Research have proven that voting patterns and political affiliation correlate with the kind of church and quantity of church involvement somebody has,’ Scott McConnell, govt director of Lifeway Analysis, stated in a press release. ‘However when requested if churchgoers need political similarity to stream again into their church relationships, that is fascinating for less than half of churchgoers.’”

#COVID19

Lambert right here: I can’t name a winter surge, although we’ll actually have to attend for Thanksgiving journey. Nonetheless, excessive transmission (CDC), the elevation and continued improve in positivity (Walgreens), and the regular takeover of BQ.1* (CDC; Walgreens) are all somewhat unsettling (as is the obvious proliferation of variants). Keep protected on the market!

• Covid and culthood:

And:

To not point out funding and fast entry to media boards. A great lengthy thread.

* * *

• ”Room-level air flow in colleges and universities” [Atmospheric Environment]. “The direct stream measurement strategies utilized by constructing managers and engineers to characterize air flow charges in mechanically ventilated buildings can’t be utilized to naturally ventilated areas. Different approaches for characterizing air flow could require technical experience for execution or knowledge interpretation, or specialised instrumentation, which reduces accessibility. As educators, directors, and constructing managers plan for protected operations within the wake of COVID-19, there’s a want for sensible approaches for characterizing air flow on the room degree, in addition to help for small-scale, short-term determination making, e.g., with respect to opening home windows and doorways and operating followers, air conditioners, or supplemental air cleansing. Right here, we describe efforts taken by this group of scientists and educators utilizing completely different approaches to characterize air flow in academic areas in several U.S. areas in collaboration with amenities managers, directors, and different determination makers. We talk about our findings, finest practices, and classes realized.” • Effectively value a learn, particularly for those who within the discipline.

• Maskstravaganza: Readers could want to look into ReadiMask, “[T]he solely full-face respirator that seals to your face utilizing a hypoallergenic medical adhesive on the perimeter of the masks. Masks that apply with elastic straps or ties don’t match correctly, permitting gaps across the edges of the masks the place contaminants can enter, however ReadiMask’s medical adhesive creates a decent seal that permits the filter and eyeshield to offer substantial safety. The ReadiMask is pocket-sized, nearly weightless, and accessible with or with out the eyeshield.” • There’s innovation on this discipline, and manufactured in America too.

• Maskstravaganza: When the American Public Well being Affiliation can’t be bothered to implement its personal insurance policies:

Little doubt masked audio system wouldn’t look good on tv….

• Maskstravaganza:


* * *

• “The notion that COVID-19 has been vanquished is just not supported by the details” [David Berger, Sydney Morning Herald]. “The pleasing notion that COVID has now been vanquished, nevertheless, that it has been became ‘simply one other seasonal upper-respiratory virus’ by vaccination, ‘hybrid’ immunity from repeated an infection and pure attenuation of the virus itself, is just not supported by the details. New variants proceed to reach, no matter season, and the world is now on its eighth. Actuarial evaluation from around the globe, together with in Australia, reveals an ongoing 10 to fifteen per cent extra loss of life fee, as in contrast with earlier than the pandemic…. However deaths should not the one metric. Excessive charges of lengthy COVID, consisting of a smorgasbord of persistent circumstances, are already being felt when it comes to labour shortages and appear set to be accumulating each human and financial results over time.”

• ”AHPRA’s made a severe mistake in attempting to silence Dr David Berger” [AusDoc]. From July, nonetheless germane. “Dr David Berger has been informed to drag his head in by the Medical Board of Australia who needs him to bear a re-education course ‘in relation to behaving professionally and courteously to colleagues and different practitioners’. His offence, in response to the board, was his passionate Tweets, typically containing the odd expletive, critiquing public well being measures, dopey commentators and the politics of the pandemic.” • ZOMG imply tweets!

• ”Fallout continues from Ahpra “over-reach”” [Insight]. “What’s at problem although is powerful criticism of what Dr Berger and others may argue are fools making silly insurance policies. Is Ahpra saying there are not any fools or silly concepts in politics, huge pharma or drugs, or simply that if there are we should not say so? Why ought to medical doctors, and no-one else locally, be pressured to feign respect for mediocre or incompetent authorities or people? The regulation should to be utilized equally to everybody; you shouldn’t single out one one who opposes authorities coverage whereas apparently not performing on myriad others who’re emotionally pejorative on-line, and who now threaten and observe by with nameless reviews to Ahpra when they don’t like what a physician says. Ahpra is, for my part, open to getting used as a instrument of nameless bullies, whereas they are saying with out irony they’re attempting to enhance tradition.” • Ahpra = Australian Well being Practitioner Regulation Company.

• And from Berger:


* * *

“Free sunscreen, ear plugs — and Covid photographs? On the NASCAR race, vaccinations are nonetheless a tricky promote” [STAT]. “It’s a modest dent in stagnating vaccination charges as public well being officers try and rally fatigued People earlier than an anticipated winter surge, however amongst a key group of vaccine holdouts: rural, largely conservative People. The NASCAR tents are additionally of federal well being officers’ now yearslong technique to construct Covid-19 vaccine confidence by enlisting folks, from spiritual leaders to native organizers, of their trusted communities, to tackle the problem that has eluded public well being officers for almost two years now.” Actually? How’s that been understanding? Then once more: “‘I consider in vaccinations,’ the nurse, who additionally declined to present her title due to her occupation, insisted. Simply not these ones. ‘If it’s a must to get vaccinated each 4 months, it doesn’t f—ing work.’” And: “NASCAR itself has resisted vaccine necessities for its drivers and swerved questions on its stance, although vaccinated drivers who’re Covid-19-exposed can return to racing before unvaccinated friends. But when racing officers and drivers have been to talk publicly about vaccine security, they might attain what NASCAR claims are 75 million followers worldwide.” • Or perhaps — hear me out — if there have been a “complete of presidency response”? On a layered technique?

* * *

Transmission

Right here is CDC’s interactive map by county set to group transmission. (That is the map CDC needs solely hospitals to have a look at, not you.)

Positivity

From the Walgreen’s take a look at positivity tracker, November 7:

1.0%. Lower.

Wastewater

Wastewater knowledge (CDC), November 5:

November 4:

Variants

Lambert right here: It’s past irritating how sluggish the variant knowledge is. Does no person within the public well being institution get a promotion for monitoring variants? Are there no grants? Is there a single lab that does this work, and everyone will get the outcomes from them? [grinds teeth, bangs head on desk]. UPDATE Sure. See NC right here on Pango. Each Friday, a stately, tutorial tempo totally incompatible with defending your self in opposition to a variant exhibiting doubling conduct.

Variant knowledge, nationwide (Walgreens), October 24:

Lambert right here: BQ.1* shifting alongside fairly briskly.

Variant knowledge, nationwide (CDC), October 15 (Nowcast off):

BQ.1* shifting alongside fairly briskly. New York/New Jersey numbers are larger:

UPDATED And as a test, since New York is a BQ.1* hotbed, New York hospitalization continues to extend, from November 9:

Lambert right here: I’ve added yellow strains to indicate the slopes of earlier surges. This one appears fairly sedate, as surges go.

Deaths

Dying fee (Our World in Information):

Complete: 1,098,524 – 1,098,387 = 137 (137 * 365 = 50,005, which is in the present day’s LivingWith™ quantity (fairly a bit larger than the minimizers would really like, although they will speak themselves into something. If the LivingWith™ metric retains chugging alongside like this, I could need to resolve that is what the powers-that-be take into account “mission completed” for this explicit tranche of loss of life and illness.

It’s good that for deaths I’ve a easy, day by day chart that simply retains chugging alongside, in contrast to every little thing else CDC and the White Home are screwing up or letting go darkish, good job.

• Seems the Occasions is run by sentimentalists:

In fact, this was beneath the previous man. And because it seems, the losses are certainly calculable; certainly the Biden administration calculated them, and the midterms present that their calculations have been proper.

Stats Watch

There are not any official statistics of curiosity in the present day.

* * *

The Bezzle: “Fb Mother or father Meta Publicizes Layoffs of 11,000 Employees” [Wall Street Journal]. • I ought to have sympathy for the employees, I suppose. However Meta is a literal power for evil. I wouldn’t really feel dangerous for sailors who misplaced their jobs on slave- or opium ships…. Makes me a petty bourgeois idealist, I suppose!

The Bezzle: “Crypto chief braces for greatest one-day loss for a billionaire EVER: FTX CEO will see $16B fortune slashed to $1B – as Bitcoin and Ethereum plunge 10%” [Daily Mail]. “Crypto large FTX’s CEO misplaced $16 billion of his private fortune as his firm faces a liquidity crunch and is bailed out by its rival. Sam Bankman-Fried, 30, who touted final 12 months that his crypto firm could be sufficiently big to purchase Goldman Sachs, will see his fortune drop to $1 billion after receiving a bailout from rival Changpeng Zhao’s Binance, Bloomberg reviews. The 94 % loss is the largest one-day collapse ever amongst billionaires.” • That’s a rattling disgrace.

* * *

At present’s Worry & Greed Index: 57 Greed (earlier shut: 58 Impartial) [CNN]. One week in the past: 50 (Impartial). (0 is Excessive Worry; 100 is Excessive Greed). Final up to date Nov 9 at 1:58 PM EST.

The Gallery

Cornell bins are nice!

And for the eclipse:

Class Warfare

“Railroad unions push again threatened strike date” [CNN]. “The specter of a freight railroad strike has been pushed again to early December, as 4 main unions have agreed to coordinate the date on which they might probably go on strike. The third-largest railroad union, the Brotherhood of Upkeep of Method Employe Division, had been ready to strike as quickly as November 20, the Sunday earlier than Thanksgiving. However the group introduced Wednesday that’s has agreed to increase negotiations with the railroads till not less than December 4, the deadline set by one other union, the Brotherhood of Railroad Signalmen. The rank and file members of each unions have rejected the tentative agreements reached with the railroads in September, largely over the dearth of sick pay within the contracts. A strike by anyone rail union would result in a shutdown of America’s main freight railroads, as all the opposite unions, even people who have ratified contracts, would honor the picket strains. That might trigger extreme financial issues, as 30% of America’s freight strikes by rail, when measured by weight and distance traveled. The 2 largest rail unions, the Brotherhood of Locomotive Engineers and Trainmen and the Sheet Metallic, Air, Rail and Transportation union, which represents conductors, are holding their very own ratification votes, the outcomes of that are due November 21. If one or each of these unions reject the offers, they might be ready to strike December 9. If these contracts are voted down, the BMWED and Signalmen have agreed to additional push again their strike deadline to that date. The BMWED and Signalmen are engaged in negotiations with railroad administration in search of offers that union leaders consider their members would ratify. The unions hope the extension will forestall Congress from imposing a contract or organize them to maintain working into the brand new 12 months, when Republicans is likely to be in charge of one or each homes of Congress.”

Information of the Wired

“The textual content editor for poets” [Versepad]. • Or lyricists, of which we’ve a number of within the commentariat?

* * *

Contact data for vegetation: Readers, be at liberty to contact me at lambert [UNDERSCORE] strether [DOT] corrente [AT] yahoo [DOT] com, to (a) learn how to ship me a test if you’re allergic to PayPal and (b) to learn how to ship me photos of vegetation. Greens are positive! Fungi and coral are deemed to be honorary vegetation! If you’d like your deal with to seem as a credit score, please place it at the beginning of your mail in parentheses: (thus). In any other case, I’ll anonymize through the use of your initials. See the earlier Water Cooler (with plant) right here. From AM:

AM writes: “Pointy and sharp plant seen close to the seaside simply outdoors Quilty, County Clare, Eire.”

* * *

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