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Javier E

In Silicon Valley, You Can Be Worth Billions and It's Not Enough - The New York Times - 0 views

  • He got a phone call about the imminent sale of a tech company and allegedly traded on the confidential information, according to charges filed by the Securities and Exchange Commission. The profit for a few minutes of work: $415,726.
  • rarely has anyone traded his reputation for seemingly so little reward. For Mr. Bechtolsheim, $415,726 was equivalent to a quarter rolling behind the couch. He was ranked No. 124 on the Bloomberg Billionaires Index last week, with an estimated fortune of $16 billion.
  • Last month, Mr. Bechtolsheim, 68, settled the insider trading charges without admitting wrongdoing. He agreed to pay a fine of more than $900,000 and will not serve as an officer or director of a public company for five years.
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  • Nothing in his background seems to have brought him to this troubling point. Mr. Bechtolsheim was one of those who gave Silicon Valley its reputation as an engineer’s paradise, a place where getting rich was just something that happened by accident.
  • “He cared so much about making great technology that he would buy a house, not furnish it and sleep on a futon,” said Scott McNealy, who joined with Mr. Bechtolsheim four decades ago to create Sun Microsystems, a maker of computer workstations and servers that was a longtime tech powerhouse. “Money was not how he measured himself.”
  • researchers who analyze trading data say corporate executives broadly profit from confidential information. These executives try to avoid traditional insider trading restrictions by buying shares in economically linked firms, a phenomenon called “shadow trading.”
  • “There appears to be significant profits being made from shadow trading,” said Mihir N. Mehta, an assistant professor of accounting at the University of Michigan and an author of a 2021 study in The Accounting Review that found “robust evidence” of the behavior. “The people doing it have a sense of entitlement or maybe just think, ‘I’m invincible.’”
  • He went to Stanford as a Ph.D. student in the mid-1970s and got to know the then-small programming community around the university. In the early 1980s, he, along with Mr. McNealy, Vinod Khosla and Bill Joy, started Sun Microsystems as an outgrowth of a Stanford project. When Sun initially raised money, Mr. Bechtolsheim put his entire life savings — about $100,000 — into the company.
  • “You could end up losing all your money,” he was warned by the venture capitalists financing Sun. His response: “I see zero risk here.”
  • An impromptu demonstration was hastily arranged for 8 a.m., which Mr. Bechtolsheim cut short. He had seen enough, and besides, he had to get to the office. He gave them a check, and the deal was sealed, Mr. Levy wrote, “with as little fanfare as if he were grabbing a latte on the way to work.
  • Mr. Page and Mr. Brin couldn’t deposit Mr. Bechtolsheim’s check for a month because Google did not have a bank account. When Google went public in 2004, that $100,000 investment was worth at least $1 billion.
  • It wasn’t the money that made the story famous, however. It was the way it confirmed one of Silicon Valley’s most cherished beliefs about itself: that its genius is so blindingly obvious, questions are superfluous.
  • The dot-com boom was a disorienting period for longtime Valley leaders whose interest in money was muted. Mr. Bechtolsheim’s Sun colleague Mr. Joy left Silicon Valley.
  • “There’s so much money around, it’s clouding a lot of people’s ethics,” Mr. Joy said in a 1999 oral history
  • Mr. Bechtolsheim didn’t leave. In 2008, he co-founded Arista, a Silicon Valley computer networking company that went public and now has 4,000 employees and a stock market value of $100 billion.
  • Mr. Bechtolsheim was chair of Arista’s board when an executive from another company called in 2019, according to the S.E.C. Arista and the other company, which was not named in court documents, had a history of sharing confidential information under nondisclosure agreements.
  • immediately after hanging up, the government said, he bought Acacia option contracts in the accounts of a close relative and a colleague. The next day, the deal was announced. Acacia shares jumped 35 percent.
  • Arista’s code of conduct states that “employees who possess material, nonpublic information gained through their work at Arista may not trade in Arista securities or the securities of another company to which the information pertains.”
  • Mr. Levy, the “In the Plex” author, said there were plenty of legal ways to make money in Silicon Valley. “Someone who is regarded as an influential funder and is very well connected gets nearly unlimited opportunities to make very desirable early investments,”
Javier E

A Tantalizing 'Hint' That Astronomers Got Dark Energy All Wrong - The New York Times - 0 views

  • Dark energy was assumed to be a constant force in the universe, both currently and throughout cosmic history. But the new data suggest that it may be more changeable, growing stronger or weaker over time, reversing or even fading away.
  • . If the work of dark energy were constant over time, it would eventually push all the stars and galaxies so far apart that even atoms could be torn asunder, sapping the universe of all life, light, energy and thought, and condemning it to an everlasting case of the cosmic blahs. Instead, it seems, dark energy is capable of changing course and pointing the cosmos toward a richer future.
  • a large international collaboration called the Dark Energy Spectroscopic Instrument, or DESI. The group has just begun a five-year effort to create a three-dimensional map of the positions and velocities of 40 million galaxies across 11 billion years of cosmic time. Its initial map, based on the first year of observations, includes just six million galaxies.
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  • “So far we’re seeing basic agreement with our best model of the universe, but we’re also seeing some potentially interesting differences that could indicate that dark energy is evolving with time,”
  • When the scientists combined their map with other cosmological data, they were surprised to find that it did not quite agree with the otherwise reliable standard model of the universe, which assumes that dark energy is constant and unchanging. A varying dark energy fit the data points better.
  • “It’s certainly more than a curiosity,” Dr. Palanque-Delabrouille said. “I would call it a hint. Yeah, it’s not yet evidence, but it’s interesting.”
  • But this version of dark energy is merely the simplest one. “With DESI we now have achieved a precision that allows us to go beyond that simple model,” Dr. Palanque-Delabrouille said, “to see if the density of dark energy is constant over time, or if it has some fluctuations and evolution with time.”
  • “While combining data sets is tricky, and these are early results from DESI, the possible evidence that dark energy is not constant is the best news I have heard since cosmic acceleration was firmly established 20-plus years ago.”
  • praised the new survey as “superb data.” The results, she said, “open the potential for a new window into understanding dark energy, the dominant component of the universe, which remains the biggest mystery in cosmology. Pretty exciting.”
  • what if dark energy were not constant as the cosmological model assumed?
  • At issue is a parameter called w, which is a measure of the density, or vehemence, of the dark energy. In Einstein’s version of dark energy, this number remains constant, with a value of –1, throughout the life of the universe. Cosmologists have been using this value in their models for the past 25 years.
  • Dark energy took its place in the standard model of the universe known as L.C.D.M., composed of 70 percent dark energy (Lambda), 25 percent cold dark matter (an assortment of slow-moving exotic particles) and 5 percent atomic matter. So far that model has been bruised but not broken by the new James Webb Space Telescope
  • As a measure of distance, the researchers used bumps in the cosmic distribution of galaxies, known as baryon acoustic oscillations. These bumps were imprinted on the cosmos by sound waves in the hot plasma that filled the universe when it was just 380,000 years old. Back then, the bumps were a half-million light-years across. Now, 13.5 billion years later, the universe has expanded a thousandfold, and the bumps — which are now 500 million light-years across — serve as convenient cosmic measuring sticks.
  • The DESI scientists divided the past 11 billion years of cosmic history into seven spans of time. (The universe is 13.8 billion years old.) For each, they measured the size of these bumps and how fast the galaxies in them were speeding away from us and from each other.
  • When the researchers put it all together, they found that the usual assumption — a constant dark energy — didn’t work to describe the expansion of the universe. Galaxies in the three most recent epochs appeared closer than they should have been, suggesting that dark energy could be evolving with time.
  • Dr. Riess of Johns Hopkins, who had an early look at the DESI results, noted that the “hint,” if validated, could pull the rug out from other cosmological measurements, such as the age or size of the universe. “This result is very interesting and we should take it seriously,” he wrote in his email. “Otherwise why else do we do these experiments?”
Javier E

Led by Its Youth, U.S. Sinks in World Happiness Report - The New York Times - 0 views

  • Each year, it’s no surprise that Finland tops the annual World Happiness Report. And this year was no different, marking the country’s seventh consecutive year doing so
  • Americans — particularly those under 30 — have become drastically less happy in recent years
  • the latest data point in what some researchers have described as a crisis among America’s youth.
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  • For the first time since the first World Happiness Report was published in 2012, the United States fell out of the Top 20 and dropped to 23rd, pushed down by cratering attitudes of Americans under 30.
  • Americans have long been an unhappy bunch. They have never ranked in the Top 10 of the World Happiness Report, which is based on how respondents in different countries rate their own happiness.
  • cited the disruptions to life brought about by the coronavirus pandemic as a chief cause of mental health challenges among younger Americans.
  • The happiest young people are in Lithuania, while the unhappiest are in Afghanistan.
  • “I have never seen such an extreme change,” John Helliwell, an economist and a co-author of the report, said in an interview, referring to the drop in happiness among younger people. “This has all happened in the last 10 years, and it’s mainly in the English-language countries. There isn’t this drop in the world as a whole.”
  • Respondents were asked — among other prompts — to think of their life as a ladder and to rate it on a scale of one to 10, with 10 being the best possible life.
  • this was the first time that the consortium separated results by age, finding disparities in the views of younger and older Americans. Among the 143 countries surveyed, the United States ranked 10th for people 60 and older, but 62nd for people under 30.
  • Jade Song, a 27-year-old novelist, counted herself among those who had become increasingly unhappy in recent years.
  • “Many of the things that would have normally taken place for people, particularly high school young adults, did not take place,” he added. “And that is still occurring.”
  • “It’s mostly because as an adult you suddenly become aware of all the world news and you pay attention more to what you can control, and you realize that there is so little you can control,” Ms. Song, who was not part of the study, said in an interview. “Even if you’re going to protests or paying your rent and bills all on time, it’s so difficult, especially now, to break free from how you’re living your life when you realize how little impact your actions actually have on a broader level.”
  • There is a silver lining, though
  • In 2022, a Harvard University study showed that well-being among young adults in the United States had declined in the previous 20 years. Young people — those between the ages of 18 and 25 — reported the lowest levels of happiness compared with other age groups, as well as the poorest mental and physical health, sense of purpose, character, virtue, close social relationships and financial stability
  • Similar findings have emerged in Britain and Canada.
  • “One factor, which we’re all thinking about, is social media,” said Dr. Robert Waldinger, the director of the Harvard Study of Adult Development
  • “Because there’s been some research that shows that depending on how we use social media, it lowers well-being, it increases rates of depression and anxiety, particularly among young girls and women, teenage girls.”
  • In addition, Dr. Waldinger said, the negative feedback loop from news consumption has become a contributing factor.
  • “There’s also a lot of anxiety about the state of the world,” he said. “About climate change. About all of the polarization that we’re seeing.”
  • in some other countries, such as Croatia, Switzerland and Austria, the World Happiness Report shows that young people are becoming happier.
  • “Part of the problem is that we have this huge expectation of happiness in America,” said Eric Weiner, the author of “The Geography of Bliss,” and so we suffer partly from the unhappiness of not being happy and the expectation that we should be happy. And not every country in the world has that.”
  • “There’s an assumption that if you’re American, you’re wealthy and you’re high tech and you’re successful; you should be happy,” he said. “There’s a lot of data that shows that the greater your expectations, the less you’re happy.”
  • The expectations for young people like Ms. Song, the novelist, said have shifted.
  • “We have less to look forward to,” she said. “Because in the future, there’s going to be climate change that will affect the way we live. I think there’s less of a clear-cut trajectory for our life paths, because for so long, it was so easy just to know that you could go get married and have your 2.5 kids, and then pay for your house. But now that path is a lot more closed.”
  • “The literature is clear in practice — the effect that this had on socialization, pro-social behavior, if you will, and the ability for people to feel connected and have a community,”
  • “A, this angst is very local and, B, it’s very recent, which means, C, it’s not fundamental and going to last forever,” he said. “If it has been created that quickly, it could be removed that quickly.”
Javier E

Opinion | The Mystery of White Rural Rage - The New York Times - 0 views

  • Business types and some economists may talk glowingly about the virtues of “creative destruction,” but the process can be devastating, economically and socially, for those who find themselves on the destruction side of the equation. This is especially true when technological change undermines not just individual workers but also whole communities.
  • It’s a big part of what has happened to rural America.
  • This process and its effects are laid out in devastating, terrifying and baffling detail in “White Rural Rage: The Threat to American Democracy,” a new book by Tom Schaller and Paul Waldman
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  • “devastating” because the hardship of rural Americans is real, “terrifying” because the political backlash to this hardship poses a clear and present danger to our democracy, and “baffling” because at some level I still don’t get the politics.
  • Technology is the main driver of rural decline, Schaller and Waldman argue. Indeed, American farms produce more than five times as much as they did 75 years ago, but the agricultural work force declined by about two-thirds over the same period, thanks to machinery, improved seeds, fertilizers and pesticides
  • Coal production has been falling recently, but thanks partly to technologies like mountaintop removal, coal mining as a way of life largely disappeared long ago, with the number of miners falling 80 percent even as production roughly doubled.
  • The decline of small-town manufacturing is a more complicated story, and imports play a role, but it’s also mainly about technological change that favors metropolitan areas with large numbers of highly educated workers.
  • Technology, then, has made America as a whole richer, but it has reduced economic opportunities in rural areas. So why don’t rural workers go where the jobs are? Some have
  • But some cities have become unaffordable, in part because of restrictive zoning — one thing blue states get wrong — while many workers are also reluctant to leave their families and communities.
  • So shouldn’t we aid these communities? We do. Federal programs — Social Security, Medicare, Medicaid and more — are available to all Americans, but are disproportionately financed from taxes paid by affluent urban areas. As a result there are huge de facto transfers of money from rich, urban states like New Jersey to poor, relatively rural states like West Virginia.
  • While these transfers somewhat mitigate the hardship facing rural America, they don’t restore the sense of dignity that has been lost along with rural jobs.
  • And maybe that loss of dignity explains both white rural rage and why that rage is so misdirected — why it’s pretty clear that this November a majority of rural white Americans will again vote against Joe Biden, who as president has been trying to bring jobs to their communities, and for Donald Trump, a huckster from Queens who offers little other than validation for their resentment.
  • This feeling of a loss of dignity may be worsened because some rural Americans have long seen themselves as more industrious, more patriotic and maybe even morally superior to the denizens of big cities — an attitude still expressed in cultural artifacts like Jason Al
  • In the crudest sense, rural and small-town America is supposed to be filled with hard-working people who adhere to traditional values, not like those degenerate urbanites on welfare, but the economic and social reality doesn’t match this self-image.
  • Prime working-age men outside metropolitan areas are substantially less likely than their metropolitan counterparts to be employed — not because they’re lazy, but because the jobs just aren’t there.
  • Quite a few rural states also have high rates of homicide, suicide and births to single mothers — again, not because rural Americans are bad people, but because social disorder is, as the sociologist William Julius Wilson argued long ago about urban problems, what happens when work disappears.
  • Draw attention to some of these realities and you’ll be accused of being a snooty urban elitist
  • The result — which at some level I still find hard to understand — is that many white rural voters support politicians who tell them lies they want to hear. It helps explain why the MAGA narrative casts relatively safe cities like New York as crime-ridden hellscapes while rural America is the victim not of technology but of illegal immigrants, wokeness and the deep state.
  • while white rural rage is arguably the single greatest threat facing American democracy, I have no good ideas about how to fight it.
Javier E

Opinion | The 100-Year Extinction Panic Is Back, Right on Schedule - The New York Times - 0 views

  • The literary scholar Paul Saint-Amour has described the expectation of apocalypse — the sense that all history’s catastrophes and geopolitical traumas are leading us to “the prospect of an even more devastating futurity” — as the quintessential modern attitude. It’s visible everywhere in what has come to be known as the polycrisis.
  • Climate anxiety, of the sort expressed by that student, is driving new fields in psychology, experimental therapies and debates about what a recent New Yorker article called “the morality of having kids in a burning, drowning world.”
  • The conviction that the human species could be on its way out, extinguished by our own selfishness and violence, may well be the last bipartisan impulse.
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  • a major extinction panic happened 100 years ago, and the similarities are unnerving.
  • The 1920s were also a period when the public — traumatized by a recent pandemic, a devastating world war and startling technological developments — was gripped by the conviction that humanity might soon shuffle off this mortal coil.
  • It also helps us see how apocalyptic fears feed off the idea that people are inherently violent, self-interested and hierarchical and that survival is a zero-sum war over resources.
  • Either way, it’s a cynical view that encourages us to take our demise as a foregone conclusion.
  • What makes an extinction panic a panic is the conviction that humanity is flawed and beyond redemption, destined to die at its own hand, the tragic hero of a terrestrial pageant for whom only one final act is possible
  • What the history of prior extinction panics has to teach us is that this pessimism is both politically questionable and questionably productive. Our survival will depend on our ability to recognize and reject the nihilistic appraisals of humanity that inflect our fears for the future, both left and right.
  • As a scholar who researches the history of Western fears about human extinction, I’m often asked how I avoid sinking into despair. My answer is always that learning about the history of extinction panics is actually liberating, even a cause for optimism
  • Nearly every generation has thought its generation was to be the last, and yet the human species has persisted
  • As a character in Jeanette Winterson’s novel “The Stone Gods” says, “History is not a suicide note — it is a record of our survival.”
  • Contrary to the folk wisdom that insists the years immediately after World War I were a period of good times and exuberance, dark clouds often hung over the 1920s. The dread of impending disaster — from another world war, the supposed corruption of racial purity and the prospect of automated labor — saturated the period
  • The previous year saw the publication of the first of several installments of what many would come to consider his finest literary achievement, “The World Crisis,” a grim retrospective of World War I that laid out, as Churchill put it, the “milestones to Armageddon.
  • Bluntly titled “Shall We All Commit Suicide?,” the essay offered a dismal appraisal of humanity’s prospects. “Certain somber facts emerge solid, inexorable, like the shapes of mountains from drifting mist,” Churchill wrote. “Mankind has never been in this position before. Without having improved appreciably in virtue or enjoying wiser guidance, it has got into its hands for the first time the tools by which it can unfailingly accomplish its own extermination.”
  • The essay — with its declaration that “the story of the human race is war” and its dismay at “the march of science unfolding ever more appalling possibilities” — is filled with right-wing pathos and holds out little hope that mankind might possess the wisdom to outrun the reaper. This fatalistic assessment was shared by many, including those well to Churchill’s left.
  • “Are not we and they and all the race still just as much adrift in the current of circumstances as we were before 1914?” he wondered. Wells predicted that our inability to learn from the mistakes of the Great War would “carry our race on surely and inexorably to fresh wars, to shortages, hunger, miseries and social debacles, at last either to complete extinction or to a degradation beyond our present understanding.” Humanity, the don of sci-fi correctly surmised, was rushing headlong into a “scientific war” that would “make the biggest bombs of 1918 seem like little crackers.”
  • The pathbreaking biologist J.B.S. Haldane, another socialist, concurred with Wells’s view of warfare’s ultimate destination. In 1925, two decades before the Trinity test birthed an atomic sun over the New Mexico desert, Haldane, who experienced bombing firsthand during World War I, mused, “If we could utilize the forces which we now know to exist inside the atom, we should have such capacities for destruction that I do not know of any agency other than divine intervention which would save humanity from complete and peremptory annihilation.”
  • F.C.S. Schiller, a British philosopher and eugenicist, summarized the general intellectual atmosphere of the 1920s aptly: “Our best prophets are growing very anxious about our future. They are afraid we are getting to know too much and are likely to use our knowledge to commit suicide.”
  • Many of the same fears that keep A.I. engineers up at night — calibrating thinking machines to human values, concern that our growing reliance on technology might sap human ingenuity and even trepidation about a robot takeover — made their debut in the early 20th century.
  • The popular detective novelist R. Austin Freeman’s 1921 political treatise, “Social Decay and Regeneration,” warned that our reliance on new technologies was driving our species toward degradation and even annihilation
  • Extinction panics are, in both the literal and the vernacular senses, reactionary, animated by the elite’s anxiety about maintaining its privilege in the midst of societal change
  • There is a perverse comfort to dystopian thinking. The conviction that catastrophe is baked in relieves us of the moral obligation to act. But as the extinction panic of the 1920s shows us, action is possible, and these panics can recede
  • To whatever extent, then, that the diagnosis proved prophetic, it’s worth asking if it might have been at least partly self-fulfilling.
  • today’s problems are fundamentally new. So, too, must be our solutions
  • It is a tired observation that those who don’t know history are destined to repeat it. We live in a peculiar moment in which this wisdom is precisely inverted. Making it to the next century may well depend on learning from and repeating the tightrope walk — between technological progress and self-annihilation — that we have been doing for the past 100 years
  • We have gotten into the dangerous habit of outsourcing big issues — space exploration, clean energy, A.I. and the like — to private businesses and billionaires
  • That ideologically varied constellation of prominent figures shared a basic diagnosis of humanity and its prospects: that our species is fundamentally vicious and selfish and our destiny therefore bends inexorably toward self-destruction.
  • Less than a year after Churchill’s warning about the future of modern combat — “As for poison gas and chemical warfare,” he wrote, “only the first chapter has been written of a terrible book” — the 1925 Geneva Protocol was signed, an international agreement banning the use of chemical or biological weapons in combat. Despite the many horrors of World War II, chemical weapons were not deployed on European battlefields.
  • As for machine-age angst, there’s a lesson to learn there, too: Our panics are often puffed up, our predictions simply wrong
  • In 1928, H.G. Wells published a book titled “The Way the World Is Going,” with the modest subtitle “Guesses and Forecasts of the Years Ahead.” In the opening pages, he offered a summary of his age that could just as easily have been written about our turbulent 2020s. “Human life,” he wrote, “is different from what it has ever been before, and it is rapidly becoming more different.” He continued, “Perhaps never in the whole history of life before the present time, has there been a living species subjected to so fiercely urgent, many-sided and comprehensive a process of change as ours today. None at least that has survived. Transformation or extinction have been nature’s invariable alternatives. Ours is a species in an intense phase of transition.”
Javier E

Opinion | Bidencare Is a Really Big Deal - The New York Times - 0 views

  • President Biden has made Obamacare an even bigger deal, in a way that is improving life for millions of Americans.
  • The Biden administration just announced that 21 million people have enrolled for coverage through the A.C.A.’s health insurance marketplaces, up from around 12 million on the eve of the pandemic. America still doesn’t have the universal coverage that is standard in other wealthy nations, but some states, including Massachusetts and New York, have gotten close.
  • And this gain, unlike some of the other good things happening, is all on Biden, who both restored aid to people seeking health coverage and enhanced a key aspect of the system.
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  • Biden, as part of the 2022 Inflation Reduction Act, largely resolved these problems, reducing maximum premium payments (net of subsidies) and eliminating the cliff at 400 percent. The result is to make health insurance coverage substantially more affordable, especially for middle-income Americans who previously earned too much to be eligible for subsidies. Hence the surge in marketplace enrollments.
Javier E

There Is Literally Nothing Trump Can Say That Will Stop Republicans from Voting for Him... - 0 views

  • These days, you’re more likely to find Trump’s words in one of Biden’s campaign ads than in anything put out by his many G.O.P. cheerleaders. Trump’s crazy quotes generate support for Democrats; Republicans like Haley just cringe and change the subject.
  • It was, of course, exactly because of this phenomenon that far too many failed to take seriously Trump’s reckless incitements after he refused to accept the results of the 2020 election.
  • If anything, he’s getting even more of a pass in this election. Little that he has said or done seems to have made any appreciable impact on an increasingly amnesiac electorate, even as the things he says or does get ever more unbelievable.
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  • As a result, Trump’s threats of revenge and retribution have become the background noise of the election year—it’s just more blah-blah-blah from a master of it
  • CREW, a good-government group in Washington, D.C., which reviewed more than thirteen thousand of Trump’s Truth Social posts for a report released this week.
  • They found that Trump had threatened to unleash the powers of the federal government on Biden twenty-five times in the past two years. Other targets against whom Trump called for vengeance included senators, judges, and members of Biden’s family. “IF YOU GO AFTER ME, I’M COMING AFTER YOU!”—a blunt Trump social-media post from last year cited in the report
  • yet Congress, even when it was under full Democratic control in the first two years of Biden’s Presidency, has failed to pass measures that might insulate the Justice Department and other parts of the executive branch from efforts to politicize it during a second Trump term, such as reforming the Insurrection Act to make it harder to deploy the military on U.S. soil or passing legislation to make it more difficult for the White House to interfere in federal law-enforcement investigations.
Javier E

In Memoriam: Lewis H. Lapham (1935-2024), by Harper's Magazine - 0 views

  • By drawing upon the authority of Montaigne, who begins his essay “Of Books” with what would be regarded on both Wall Street and Capitol Hill as a career-ending display of transparency:
  • I have no doubt that I often speak of things which are better treated by the masters of the craft, and with more truth. This is simply a trial [essai] of my natural faculties, and not of my acquired ones. If anyone catches me in ignorance, he will score no triumph over me, since I can hardly be answerable to another for my reasonings, when I am not answerable for them to myself, and am never satisfied with them. . . .
  • When I was thirty I assumed that by the time I was fifty I would know what I was talking about. The notice didn’t arrive in the mail. At fifty I knew less than what I thought I knew at thirty, and so I figured that by the time I was seventy, then surely, this being America, where all the stories supposedly end in the key of C major, I would have come up with a reason to believe that I had been made wise. Now I’m seventy-five, and I see no sign of a dog with a bird in its mouth.
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  • On the opening of a book or the looking into a manuscript, I listen for the sound of a voice in the first-person singular, and from authors whom I read more than once I learn to value the weight of words and to delight in their meter and cadence—in Gibbon’s polyphonic counterpoint and Guedalla’s command of the subjunctive, in Mailer’s hyperbole and Dillard’s similes, in Twain’s invectives and burlesques with which he set the torch of his ferocious wit to the hospitality tents of the world’s “colossal humbug.”
  • y object was to learn, not preach, which prevented my induction into the national college of pundits but encouraged my reading of history.
  • I soon discovered that I had as much to learn from the counsel of the dead as I did from the advice and consent of the living. The reading of history damps down the impulse to slander the trend and tenor of the times, instills a sense of humor, lessens our fear of what might happen tomorrow.
  • On listening to President Barack Obama preach the doctrine of freedom-loving military invasion to the cadets at West Point, I’m reminded of the speeches that sent the Athenian army to its destruction in Sicily in 415 bc, and I don’t have to wait for dispatches from Afghanistan to suspect that the shooting script for the Pax Americana is a tale told by an idiot.
  • The common store of our shared history is what Goethe had in mind when he said that the inability to “draw on three thousand years is living hand to mouth.”
  • It isn’t with symbolic icons that men make their immortality. They do so with what they’ve learned on their travels across the frontiers of the millennia, salvaging from the wreck of time what they find to be useful or beautiful or true.
  • What preserves the voices of the great authors from one century to the next is not the recording device (the clay tablet, the scroll, the codex, the book, the computer, the iPad) but the force of imagination and the power of expression. It is the strength of the words themselves, not their product placement, that invites the play of mind and induces a change of heart.
  • How do we know what we think we know? Why is it that the more information we collect the less likely we are to grasp what it means? Possibly because a montage is not a narrative, the ear is not the eye, a pattern recognition is not a figure or a form of speech.
  • The surfeit of new and newer news comes so quickly to hand that within the wind tunnels of the “innovative delivery strategies” the data blow away and shred. The time is always now, and what gets lost is all thought of what happened yesterday, last week, three months or three years ago. Unlike moths and fruit flies, human beings bereft of memory, even as poor a memory as Montaigne’s or my own, tend to become disoriented and confused.
  • I know no other way out of what is both the maze of the eternal present and the prison of the self except with a string of words.
Javier E

The Power of TikTok News Influencers in Three Charts - WSJ - 0 views

  • While viral posts from top-performing legacy media accounts still had broader overall reach, with more than 1.2 billion views, those mainstream outlets posted less frequently and had fewer viral videos than the group of news influencers, the Journal’s analysis found. 
  • News influencers bring fresh perspectives and engage younger audiences with news in a way traditional outlets often struggle to match, media and disinformation researchers say
  • ut their rise raises questions about how they adhere to journalistic ethics and standards. It also comes as American trust in mass media is at a record low, according to Gallup.
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  • “Unlike a newsroom where many stories are often checked, fact-checked and triple-checked by copy editors and others to make sure it’s verifiably accurate, the same isn’t necessarily true of political news influencers,
  • It is the informality and break from tradition, however, that are among the keys to news influencers’ increasing prominence. People want “someone that they relate to and trust” to interpret and curate their news
  • Share of U.S. adults who regularly get news from TikTok, by age group
  • No news-focused creator broke through as often this summer as Harry Sisson, CredoIQ data shows. The 22-year-old New York University senior drove more than 100 million views from viral posts in June and July through what he calls “a mix of news and advocacy for Kamala Harris and the Democratic Party.”
  • Sisson’s July video reporting Biden’s exit from the race, in which he called Biden a “fantastic president,” has 1.3 million views—more than the TikTok videos on the same topic from CBS News, MSNBC and C-Span.
  • “A lot of people get their news from social media,” said Sisson, who said he aggregates news for his one million-plus followers from a variety of sources, including the New York Times and the Washington Post. “If I can be a reliable outlet in the eyes of the people, I want to fill that role.”
  • Joey Contino, 33, who is based in New Jersey and runs an account focused on politics and the Russia-Ukraine war, says viewers are drawn to creators’ stripped-down, conversational approach to news.
  • “When it comes to mainstream media, I understand they have a certain way they do their broadcast, in front of the lights, in front of the screens,” Contino said. “I think we’re more in the realm of hearing things from your best friend than hearing things on TV.”
  • He rarely gives his opinion, he said, other than his view that Ukraine should be supported in its war against Russia. Contino’s 240 viral posts this summer picked up more than 35 million views.
  • The Journal’s analysis covered the 200 accounts with the most viral political posts excluding those that were inactive or not English-language. The Journal categorized the accounts as news influencers, legacy outlets or others, such as politicians and comedians, based on criteria developed with several media researchers.
  • As a whole, the influencers’ feeds were more likely to lean either progressive or conservative, the Journal found, and 80% of them were classified as partisan by CredoIQ. Legacy-media accounts, on the other hand, were more politically independent, according to CredoIQ, which assigns partisanship leanings based on the views expressed by creators and topics they cover.
  • Share of TikTok accounts with the most viral* political posts in June and July, by account type and partisanship
Javier E

The economic commitment of climate change | Nature - 0 views

  • Here we use recent empirical findings from more than 1,600 regions worldwide over the past 40 years to project sub-national damages from temperature and precipitation, including daily variability and extremes7,
  • Using an empirical approach that provides a robust lower bound on the persistence of impacts on economic growth, we find that the world economy is committed to an income reduction of 19% within the next 26 years independent of future emission choices (relative to a baseline without climate impacts, likely range of 11–29% accounting for physical climate and empirical uncertainty)
  • These damages already outweigh the mitigation costs required to limit global warming to 2 °C by sixfold over this near-term time frame and thereafter diverge strongly dependent on emission choices
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  • Committed damages arise predominantly through changes in average temperature, but accounting for further climatic components raises estimates by approximately 50% and leads to stronger regional heterogeneity
  • Committed losses are projected for all regions except those at very high latitudes, at which reductions in temperature variability bring benefit
  • The largest losses are committed at lower latitudes in regions with lower cumulative historical emissions and lower present-day income.
Javier E

Deploying on U.S. Soil: How Trump Would Use Soldiers Against Riots, Crime and Migrants ... - 0 views

  • In his first term in office, Mr. Trump never realized his expansive vision of using troops to enforce the law on U.S. soil. But as he has sought a return to power, he has made clear that he intends to use the military for a range of domestic law enforcement purposes, including patrolling the border, suppressing protests that he deems to have turned into riots and even fighting crime in big cities run by Democrats.
  • “In places where there is a true breakdown of the rule of law, such as the most dangerous neighborhoods in Chicago, the next president should use every power at his disposal to restore order — and, if necessary, that includes sending in the National Guard or the troops,” Mr. Trump said at a conservative conference in Dallas in August 2022, shortly before announcing that he was running to be that next president.
  • While governors have latitude to use their states’ National Guards to respond to civil disorder or major disasters, a post-Civil War law called the Posse Comitatus Act generally makes it a crime to use regular federal troops for domestic policing purposes.
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  • However, an 1807 law called the Insurrection Act creates an exception to that ban. It grants presidents the emergency power to use federal troops on domestic soil to restore law and order when they believe a situation warrants it. Those federal troops could either be regular active-duty military or state National Guard soldiers the federal government has assumed control over.
  • But parts of the Insurrection Act also allow presidents to send in troops without requiring the consent of a governor. Presidents last invoked the act to deploy troops without the consent of state authorities in the late 1950s and early 1960s during the civil rights movement, when some governors in the South resisted court-ordered school desegregation.
  • Mr. Trump has boasted that, if he returns to the White House, he will dispatch forces without any request for intervention by local authorities. At a campaign rally in Iowa last year, for example, he vowed to unilaterally use federal forces to “get crime out of our cities,” specifically naming New York, Chicago, Los Angeles and San Francisco as “crime dens” he pointedly noted were run by Democrats.
  • “You look at what is happening to our country — we cannot let it happen any longer,” Mr. Trump said. “And one of the other things I’ll do — because you are not supposed to be involved in that, you just have to be asked by the governor or the mayor to come in — the next time, I am not waiting.”
  • Mr. Trump has long been attracted to the strongman move of using military force to impose and maintain domestic political control. In a 1990 interview with Playboy, he spoke admiringly about the Chinese Communist Party for displaying the “power of strength” a year earlier when it used troops and tanks to crush the pro-democracy protests in Beijing’s Tiananmen Square.
  • The next day, on June 3, Mr. Esper contradicted Mr. Trump from the Pentagon podium, saying: “The option to use active duty forces in a law enforcement role should only be used as a matter of last resort, and only in the most urgent and dire of situations. We are not in one of those situations now. I do not support invoking the Insurrection Act.” Mr. Trump was outraged, seeing this as an act of defiance. He fired Mr. Esper that November.
  • Mr. Trump has broken with his former subordinates who raised objections to his desire to use federal troops that summer. Those who have stuck with Mr. Trump are working to ensure that a second administration would not contain politically appointed officials or lawyers who would be inclined to see it as their duty to constrain his impulses and desires — one of several reasons a second Trump presidency is likely to shatter even more norms and precedents than the first.
  • Indeed, even by the standards of various norm-busting plans Mr. Trump and his advisers have developed, the idea of using American troops against Americans on domestic soil stands apart. It has engendered quiet discomfort even among some of his allies on other issues.
  • In an interview with The New York Times last fall, Stephen Miller, Mr. Trump’s top immigration adviser, said Mr. Trump’s plans for an unprecedented crackdown on immigration included invoking the Insurrection Act to use troops as immigration agents.
  • An early 2023 email from a member of the center’s staff listed 10 agenda topics for papers that the center planned to write on legal and policy frameworks. An introduction to the email said the goal was to “help us build the case and achieve consensus leading into 2025.” The email went on to circulate more broadly, and The Times reviewed a copy.
  • The email placed each topic into one of three categories. One set involved Congress. A second involved “broader legal” issues — including “Christian nationalism” and “nullification,” the pre-Civil War idea that states should be able to negate federal laws they don’t like. The third category was “day one” ideas, meaning those whose legal frameworks were already well established, and which could be put into effect by a president unilaterally.No. 4 on the list: “Insurrection — stop riots ** — Day 1, easy.”
  • “George Floyd obviously was not about race — it was about destabilizing the Trump administration,” he said. “We put out, for instance, a 50-page paper designed for lawyers to know that the president has, you know, the ability both along the border and elsewhere to maintain law and order with the military and that’s something that, you know, that’s going to be important for him to remember and his lawyers to affirm. But we’ve given them the case for that.”
Javier E

Antitrust Enforcers: "The Rent Is Too Damn High!" - 0 views

  • The story was explosive, explaining that, in fact, there was no mystery behind the inflation that Americans were experiencing, inflation in everyday items paired with skyrocketing corporate profits. There was a conspiracy, orchestrated by some of the richest men in the country.
  • Median asking rents had spiked by as much as 18% in the spring of 2022, and that was outrageous. Moreover, rents are just out of control more broadly. As the Antitrust Division notes, "the percentage of income spent on rent for Americans without a college degree increased from 30% in 2000 to 42% in 2017."
  • Policymakers also responded. Seventeen members of Congress, and multiple Democratic Senators, such as Antitrust Subcommittee Chair Amy Klobuchar, asked government enforcers to look into the allegations. Senator Ron Wyden introduced Federal legislation to ban the use of RealPage to set rents, which the Kamala Harris Presidential campaign recently endorsed. At a local level, San Fransisco just prohibited collusive algorithmic rent-setting, and similar legislation is being considered in a bunch of states and cities.
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  • As the architect of RealPage once explained, “[i]f you have idiots undervaluing, it costs the whole system.” The complaints showed that it’s more than just information sharing; RealPage has “pricing advisors” that monitor landlords and encourage them to accept suggested pricing, it works to get employees at landlord companies fired who try to move rents lower, and it even threatens to drop clients who don’t accept its high price recommendations. The suits have passed important legal hurdles and are going to trial.
  • Private antitrust lawyers filed multiple lawsuits, which were consolidated in Tennessee by 2023. Their argument “is that RealPage has been working with at least 21 large landlords and institutional investors, encompassing 70% of multi-family apartment buildings and 16 million units nationwide, to systematically push up rents.”
  • Arizona Attorney General Kris Mayes sued RealPage and corporate landlords, alleging that rent increases of 30% in just two years are a result of the conspiracy. Seven out of ten multifamily apartment units in Phoenix are run by landlords who use the software. D.C. Attorney General Brian Schwalbe sued as well, noting that “in the Washington-Arlington-Alexandria Metropolitan Area, over 90% of units in large buildings are priced using RealPage’s software.”
  • The FBI conducted a dawn raid of corporate landlord Cortland, a giant that rents out 85,000 units across thirteen states. Today, the Antitrust Division and eight states sued RealPage, alleging not just a price-fixing conspiracy to raise rents, but also monopolization in the market for commercial real estate management software
  • The gist of the complaint is that large landlords and RealPage work together to (1) share sensitive information and (2) raise rents and hold units off the market. This activity hits at least 4.8 million housing units under the direct control of landlords using RealPage software, and according to the corporation itself, its products cause rents to increase by between 2-7% more than they otherwise would, year over year. "Our tool,” said RealPage, “ensures that [landlords] are driving every possible opportunity to increase price even in the most downward trending or unexpected conditions.”
Javier E

Opinion | The Defendants in France's Rape Trial Are Telling Us Something Horrifying - T... - 0 views

  • Feminism has long been interested in the relationship between knowledge and power, in how women deprived of knowledge are deprived of power
  • In the past few weeks, we have been brutally reminded that ignorance or the claiming of it can also be a convenient tool of the powerful
  • Consent requires an effort to know the desires of the other, while rape requires the complete disregard — the cancellation — of the other, of allowing oneself to have awareness of only one’s own pleasure. Indeed, drugging a woman into complete submission seems like a particularly obvious manifestation of a man’s desire not to know.
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  • “I don’t accept being called a rapist,” one defendant protested in court. “I’m not a rapist. It’s too much for me to bear,” he said. He went on to explain how much he’s learned about consent since his arrest: “The magistrate told me: Even if you’re married, a woman doesn’t fully belong to you.” “Maybe not at all,” the judge corrected, perfecting the defendant’s sexual education in court. “Yes, women don’t belong to men,” he replied. “I hope they’ll teach that in schools. It took me 54 years.”
  • One defendant said that he was “destroyed” when he learned what had happened. “I will never get over it,” he told Ms. Pelicot in court, as if she had been raped without the knowledge of either the perpetrator or the victim. Pressed, he described it as an “involuntary rape.”
  • Mr. Pelicot kept meticulous video evidence of most of the assaults, so the defendants cannot dispute the material facts. The only defense they have available is to say that they did not know that what they were doing was rape because they did not know that they did not have the consent of Ms. Pelicot
  • Some have argued that they went to the couple’s home to have filmed sex on the assumption that Ms. Pelicot was pretending to be asleep but thought she was participating or that they understood that Mr. Pelicot could consent on her behalf as her husband. (“She’s his wife. He can do whatever he wants with her,” one defendant said.)
  • One argued that he did not know what “consent” meant.
  • France still defines rape as a sexual act committed through “violence, coercion, threat or surprise.” This trial has reopened the debate about whether the definition should be changed
  • Without a requirement of affirmative consent, an accused person can argue — as one of the defense lawyers in this trial did — that “without intention to commit it, there is no rape.”
  • one-fifth of French people still said they do not view forcing their partner to have intercourse as rape, and nearly 10 percent said that forcing sex on someone who is drunk or asleep or incapable of expressing consent is not rape.
  • mong men ages 18 to 24, it’s closer to 30 percent. (“To me, rape is grabbing someone in the street,” one of the defendants is reported to have said.)
  • It appears to have been easy for Mr. Pelicot to find men who were willing to participate in the abuse of his unconscious wife; many of the accused men lived within about 40 miles of his home. If their number makes them monstrous, taken one by one, they’re sadly normal. Men with families and jobs — a journalist, a firefighter, a nurse, a civil servant. One apparently missed the birth of his daughter while he was at the Pelicot home. According to reporting by Le Monde, 72 of the 83 men Mr. Pelicot approached on the internet forum À Son Insu (Without Her Knowledge) or on Skype said yes. Of the minority who declined, it doesn’t seem that any of them bothered to call the police. Presumably they also did not want to know.
Javier E

Opinion | Four Lessons From Nine Years of Being 'Never Trump' - The New York Times - 0 views

  • Here are four things I wish my 2024 self could travel back and say to 2015 me, a much more naïve writer for National Review.
  • Community is more powerful than ideology. If you came of age politically during the Reagan Revolution, you thought of the Republican Party as fundamentally and essentially ideological. We were the party of limited government, social conservatism and a strong national defense, and these ideological lines were ruthlessly enforced.
  • The story we told ourselves behind closed doors was the story we told in public — the Republican Party was a party of ideas and those ideas defined the party.
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  • Right until they didn’t. Trump has changed the equation entirely. He’s a big-government, isolationist libertine who — despite nominating half the justices who helped overturn Roe — has made the G.O.P. platform more pro-choice than it’s been in almost 50 years
  • Don’t think for a moment this is because he won an intelligent ideological argument. When he gained a critical mass of support, millions of Republicans faced a stark choice: ideology or community?
  • It soon became clear that even some friends viewed the debate less as a disagreement and more as a betrayal. How could you break ranks with us?
  • I thought ideology defined the community, but the community existed regardless of the ideology, and breaking with the community was the far graver sin.
  • We don’t know our true values until they’re tested.
  • the Southern Baptist Convention convened in Salt Lake City and voted to approve a resolution on the importance of moral character in public officials
  • On June 1, 199
  • “Tolerance of serious wrong by leaders sears the conscience of the culture, spawns unrestrained immorality and lawlessness in the society, and surely results in God’s judgment.”
  • I think the vast majority of Baptists who voted for the resolution believed those words. But I also think their commitment was untested.
  • something a liberal friend told me when we were reminiscing about the Clinton years before the Trump era. “I’m not proud of some of our defenses of Clinton,” he said, “But I wonder if Republicans would behave any differently if the cost of holding to their values was losing a president.”
  • C.S. Lewis wrote, “Courage is not simply one of the virtues, but the form of every virtue at the testing point, which means at the point of highest reality.” We don’t know if we’re actually honest until we tell the truth when the truth will hurt us.
  • Evangelicals thought they valued integrity in politicians, and they held to that conviction until the very moment it carried a cost. That is when courage failed.
  • Hatred is the prime motivating force in our politics.
  • why the Republican community abandoned its ideology, much less why it abandoned its morality and began to support Trump, I’d say, “It’s negative partisanship.” A central fact of American politics is that partisans on both sides utterly loathe the opposition.
  • According to a recent study by More in Common, a nonpartisan organization that does research on political and cultural differences, 86 percent of Republicans believe Democrats are brainwashed, 84 percent believe Democrats are hateful and 71 percent believe Democrats are racist
  • Democrats have an even dimmer view of Republicans — 88 percent believe Republicans are brainwashed, 87 percent believe Republicans are hateful and 89 percent believe Republicans are racist.
  • if the Republican view of Democrats is that low, then there are no normal Democrats. Instead, they’re a collection of depraved zealots, Marxists who are actively trying to destroy the United States. And desperate times require desperate measures
  • Finally, trust is tribal
  • Central to MAGA culture is the idea that its rage and anger against the so-called mainstream media is completely justified by the media’s bias and the media’s mistakes.
  • I’m curious as to what specifically made them angry. Rarely do I get a precise answer. There is simply a sense that we can’t be trusted, that we’re on the other side.
  • Long after their dishonesty was exposed, the MAGA faithful continue to believe their reports and share their stories. It turns out that people will in fact trust liars — so long as the liars keep telling them what they want to hear.
  • aren’t the only lessons I’ve learned these last nine years, but they are among the most universally salient. They reflect not just MAGA tendencies, but human tendencies. Fear and anger can make any person more vulnerable to charlatans. We all need community and are understandably reluctant to alienate those closest to us.
  • If I could talk to my 2015 self, I’d deliver a simple, dispiriting message: There isn’t a specific tactic or argument that will win back the Republican Party from Donald Trump.You’ve already lost.
Javier E

Trump Chooses Lee Zeldin to Run E.P.A. as He Plans to Gut Climate Rules - The New York ... - 0 views

  • Mr. Trump campaigned on pledges to “kill” and “cancel” E.P.A. rules and regulations to combat global warming by restricting fossil fuel pollution from vehicle tailpipes, power plant smokestacks and oil and gas wells.
  • In particular, Mr. Trump wants to erase the Biden administration’s most significant climate rule, which is designed to speed a transition away from gasoline-powered cars and toward electric vehicles.
  • Mr. Zeldin wrote on X. “We will restore US energy dominance, revitalize our auto industry to bring back American jobs, and make the US the global leader of AI. We will do so while protecting access to clean air and water.”
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  • Mr. Trump, who blames environmental regulations for hampering a variety of industries, including construction and oil and gas drilling. During his first term, Mr. Trump rolled back more than 100 environmental policies and regulations. President Biden restored many of them and strengthened several.
  • Some people on Mr. Trump’s transition team say the agency needs a wholesale makeover and are even discussing moving the E.P.A. headquarters and its 7,000 workers out of Washington, D.C.,
  • “Lee Zeldin is a great pick,” said Mandy Gunasekara, who served as chief of staff at the E.P.A. under the first Trump administration. She wrote a section on the E.P.A. for Project 2025, the conservative blueprint for re-engineering the federal government. In it, she recommends slashing the E.P.A.’s budget, ousting career staff, eliminating scientific advisers that review the agency’s work and closing programs that focus on minority communities with heavily polluted air and water.
  • He was a member of the House’s Bipartisan Climate Solutions Caucus and earned a 14 percent lifetime score from the League of Conservation Voters, an environmental group. It is a low mark from the environmental advocacy group, but it was nevertheless higher than nearly any other Republican.
  • When Gov. Kathy Hochul of New York criticized Mr. Zeldin for opposing the climate law, he responded on social media, saying “I just voted NO because the bill sucks.”
  • “Being that it raises taxes, adds 87,000 new IRS agents, & spends hundreds of billions of dollars our country doesn’t have on far-left policies our country can’t afford, I’m not surprised you’d blindly endorse it,” he wrote.
  • During Mr. Zeldin’s tenure in the House, he voted against clean water legislation at least a dozen times, and clean air legislation at least half a dozen times, according to the League of Conservation Voters scorecard.
  • Mr. Zeldin has also taken some votes that the group supported, including prohibiting oil and gas drilling off the Atlantic and Pacific coasts. He also voted in favor of a landmark conservation bill that passed with bipartisan support and was signed by Mr. Trump. It guarantees maximum annual funding for a federal program to acquire and preserve land for public use.
  • He voted for a bill that would require the E.P.A. to set limits on PFAS, which are a family of man-made chemicals that are persistent in the environment and the human body. The E.P.A. under the Biden administration has set strict limits on the chemicals in drinking water. In 2020, he voted against legislation that would have slashed E.P.A.’s budget.
  • “It would be productive if we could get to what is real and what is not real,” he said. “I’m not sold yet on the whole argument that we have as serious a problem as other people are.”
Javier E

The Danger of Politicizing 'Freedom' - The Atlantic - 0 views

  • Peter Pomerantsev: Freedom seems to be a word that is embraced across America. I’ve seen polling research that shows that, even in this very polarized country, it’s one thing that people across the political spectrum care about.
  • Pomerantsev: Anne, the common conception—the one that I have, anyway—is that freedom is meant to be a good thing. Freedom is meant to be the same thing as democracy. Those two words—I hear them used interchangeably. Freedom means the Bill of Rights, the freedom of the press, the freedom of assembly, the freedom to choose who rules you.
  • Applebaum: Not quite. There’s another equally old American version of freedom, which is freedom to defy the federal government—you know, the freedom to go out into the Wild West and make up your own rules.
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  • Jefferson Cowie: One of the great sort of struggles throughout American history is: Where does freedom rest? The biggest fight over that was, of course, the Civil War. But I think the entire American history can be seen as a tension between local versus federal realms of authority, with regard to this slippery idea of freedom.
  • Cowie: And then on Election Day, 1874, as Black people came in from the countryside to vote, white people just pulled guns out of every nook and cranny of downtown Eufaula, Alabama—from sheds, from windows, from underneath porches—and opened fire on Black voters that were lined up to vote and shot them in the streets.
  • He describes how white settlers in the 1830s refused to abide by treaties that the federal government had signed with Native Americans and, instead, would repeatedly steal their land.
  • Applebaum: And then, after the Civil War, during Reconstruction, Barbour County also revolted against the federal government’s demand that freed slaves be allowed to vote
  • Applebaum: Jefferson Cowie is a historian. He teaches at Vanderbilt University, in Nashville. In his book Freedom’s Dominion, he writes about a place called Barbour County, in Alabama, where the two different forms of freedom have come crashing into one another for two centuries now
  • At least 80 were shot. Some say as many as 150. It’s a difficult number to come up with, but 80 confirmed, at least. And that ended Reconstruction violently, in what was essentially a coup d’état in the name of white freedom.
  • Applebaum: Then in the 1950s and 1960s, this version of freedom, the freedom to defy the federal government, emerges again.
  • Applebaum: George Wallace, born in Barbour County, became governor of Alabama during the fraught civil-rights era.
  • the most iconic speech of George Wallace’s life. He only mentioned segregation one other time, for a total of four, but he invokes freedom or liberty two dozen times.
  • The more I dug into the local history and how local and state powers saw themselves in opposition to federal power and saw that their freedom was a local ability to control, to dominate, a freedom to dominate others—the land, the political power of others—then you realize, Oh, what Wallace is talking about is a very specific kind of freedom
  • We allow the word freedom to work in the political discourse because it appears to be a kind of liberal value, but underneath it is actually a very powerful ideology of domination.
  • that’s what he’s really talking about there, because it’s at that moment that the federal government is coming in to take away their freedom to control the political power of Black people.
  • Cowie: Because if you’re running as a snarling racist, you only get so far, he realized. But if you’re running against the federal government, as freedom from the federal tyranny, now you have yourself a coalition, right? Now you have the anti-taxers. You have people who don’t want to deal with integrated housing. You have people who don’t, you know, want the federal government meddling in their lives. And now that’s a broader group that you can bring together.
  • Pomerantsev: So this is not what we traditionally think of as freedom—you know, the freedom to vote, to choose your representatives, the freedom to engage in politics. This is something much darker.
  • Cowie: What happened in Barbour County: The idea of civil rights and the idea of political participation were mobilized effectively in pursuit of the freedom to dominate.
  • Cowie: That’s the model that I’m afraid of for the future.
  • Applebaum: So what you’re saying is: We could elect somebody who would alter the political system.
  • Applebaum: So it wouldn’t be that, you know, a dictator comes to power by driving tanks down the street and shooting up the White House but is, rather, elected with the consent of the voters. Cowie: Right.
  • Cowie: Absolutely. But my nightmare is that fascism comes to America, but it’s marching under the banner of freedom.
  • Cowie: The difference now is they’re beginning to capture federal authority, right? So these people who’ve been anti federal government are now tasting federal power. And this is something that people like John C. Calhoun from South Carolina and George Wallace from Alabama actually envisioned
  • Applebaum: “Transform federal power into their own vision”—that sounds like some of the things we’ve been talking about throughout this series. Tom Nichols reminded us of how easy it would be to subvert the military. We’ve seen how a congressional committee can be used to harass its chairman’s enemies, and, of course, the Justice Department could be used in the same way. We know how weak some parts of our system are; there is not a guarantee that the rest of it is stable.
  • Pomerantsev: In the present day, we often hear about this idea of freedom as being synonymous with freedom from government—or, to be more precise, from democratic government, from checks and balances, from elected officials—that if Americans are just left alone, they’ll be free and achieve their best.
  • Pomerantsev: Yes. You live in a society that makes it possible to do things—to become educated, to be creative, to found a company, to be healthy—and that, not the absence of government, makes you free
  • If you have very poor government, the people are not free. People are then subject to arbitrariness and violence. They’re subject to the rule of the wealthy. Just taking away government and imagining people are free is a kind of magical thinking.
  • Pomerantsev: Anne, you know Timothy Snyder. He’s a professor at Yale, and he’s written a new book, called On Freedom. He lays out a different way of thinking about the word.
  • Timothy Snyder: The basic way that this argument about freedom is now run is that people say, The less government you have, the more free you are, which is fundamentally not true.
  • Applebaum: So Snyder means that you are free to do something, not just free from something.
  • Snyder: Freedom has been an axe, right? It’s been a blade which has been used to cut through things. And I’m trying to suggest that freedom should be more like a plow. Freedom should be a tool which allows us to cultivate things. Freedom should be something which justifies action.
  • the argument is usually made in terms of justice or fairness or equality, and those are all good things. But both politically and, I think, morally, just in terms of the correct description, freedom is often very much more central.
  • Pete Buttigieg: Yes. It’s important to make sure that people are free from overbearing government. But also, government is not the only thing that can make you unfree, and good government helps make sure you’re free from other threats to your well-being.
  • t means one party can try to claim a positive vision of freedom for themselves, and it also means the followers of the other party might oppose it reflexively, just for partisan reason
  • Pomerantsev: I think one way to keep democracy is to make sure we use that word a little more carefully than we do now. I hear a lot of Americans say, Democracy is not working. And I know what they mean
  • But that’s not democracy—that’s autocracy at work. Autocratic tendencies are to blame for this sense that democracy is not working. Even the word democracy is becoming so tainted for so many people that you have to almost avoid the term and really show how the growth of autocracy makes life worse for people every day.
  • Applebaum: Peter, I spoke with David Pepper, who’s written several books about how America is becoming less and less democratic. In a recent evaluation of elections in Texas, nearly 70 percent of races were uncontested, and in Georgia, it was about the same.
  • Pepper: It really changes the entire dynamic of those in power. I mean, think about the incentive system. If you’re in a kind of a competitive race, your incentive system in that kind of system is: You know you can be held accountable by the voters. You better deliver good public results, right?
  • I’ve seen it in country after country. I saw it in Russia and Ukraine and Hungary. It’s no accident that Alexei Navalny, the Russian dissident killed, would call his struggle “the final battle between good and neutrality.” He knew that apathy was the enemy.
  • Applebaum: So autocrats and their enablers craft a dysfunctional system, the dysfunctionality, understandably, makes people disgusted or apathetic, and then they start clamoring for something different, something less democratic, because democracy seems so impossible, so incompetent.
  • Pomerantsev: When people choose not to engage—not to run for office or vote or participate—that’s actually just the beginning, because apathy, cynicism, and nihilism grow. And as they do, the appetites of those who want to degrade democracy and seize more power grow, too.
  • Well, in these systems where you literally, for the most part, don’t face an election ever, or a competitive election ever, every incentive in that world is upside down.
  • Pomerantsev: But, Anne, these achievements—they don’t happen in a vacuum. People don’t just spontaneously go out and protest, and then great things happen. Movements take planning. You need to create coalitions—this is where a lot of people mess u
  • America has had success with coalition building in its history. The suffragettes, for example, weren’t just radical women fighting for the right to vote—they found ways to embrace and engage conservative women and get them to join the movement too.
  • Pomerantsev: The answer to the authoritarian urge is not a democratic savior. The answer is going to be: lots and lots of people-powered movements working together, because that already is the essence of democracy and central to taking back—truly taking back—control.
Javier E

The Twilight of America's Excuses - 0 views

  • In baseball, they often say that a losing pitcher played “good enough to win.” The idea here is that the pitcher can’t win games by himself, because he doesn’t score runs. All he can do is put his team in a position to win by holding the other team’s offense in check.
  • So a pitcher who gives up 1 run in 9 innings and loses 1–0? That’s not on him. He pitched good enough to win. It was the team that let him down by not providing run support.
  • That’s basically how I feel about the Harris campaign as we start closing arguments. She put America in a position to win by running a smart, vigorous campaign and giving the country a clear choice between a physically decrepit, mentally unfit gangster and a young, viable, centrist vice president.
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  • If she loses, a whole lot of excuses we’ve been making for America are going to dry up, right quick.
  • Over the last 10 years we have all, at one point or another, manufactured excuses for why Donald Trump happened.
  • If Donald Trump happened because a significant percentage of our fellow citizens wanted him, and all his works, and all his empty promises, then there was nothing to be done. If 47 percent of the country wants fascism, then eventually it will get fascism. You can’t simply dissolve the people and elect another.
  • So we looked for rationalizations to explain why so many Americans were voting for Trump in the hopes that, if we addressed these excuses, they would stop choosing him.
  • Let’s take a tour through our history of rationalization.
  • Bob Woodward, who is as jaded and cynical as anyone in Washington, had this to say about Biden in the epilogue to his new book, War:
  • Joe Biden passed bipartisan gun reform. The CHIPS Act. The Inflation Reduction Act. He passed as much major, bipartisan legislation as any president in a generation.
  • People hate partisanship and just want a president who gets things done.
  • War, this book on Biden, however, gave me what was often a real-time, inside-the-room look at genuine good faith efforts by the president and his core national security team to wield the levers of executive power responsibly and in the national interest. At the center of good governance, as evidenced by this book, is teamwork.
  • The legacy of the Biden presidency will be the core national security team that he built and kept in place for nearly four years. They brought decades of experience as well as basic human decency.
  • As this book shows, there were failures and mistakes. The full story is, of course, not yet known. But based on the evidence available now, I believe President Biden and this team will be largely studied in history as an example of steady and purposeful leadership.
  • And yet Biden gets approximately zero credit from voters for any of this.
  • Voters just thought Biden was too old to do the job. They had genuine concerns about his age and mental ability.
  • And yet suddenly age is . . . not a concern for voters.
  • Meanwhile, Trump is now the oldest person to ever run for president. He is manifestly in bad physical shape—just look at his pallor. Mentally he is so unbalanced that he does stuff like this and talks like this.
  • Democrats took these concerns so seriously that the president stepped aside and blessed someone else to run in his stead. This action was without precedent.The president’s replacement was youthful, but with deep experience in elected office and the executive branch.
  • Voters don’t want a California-style progressive elitist.
  • This was a worry when Harris first took the mantle. But she positioned herself from the start as a center-left moderate: a self-professed capitalist who loves small businesses, is a champion of law and order, and a proponent of American military might.
  • Her running mate is a blue-collar guy from a populist Midwestern political tradition. They’re both gun owners.And for some reason, none of this seems to be resonating with the people who worried that she was too “progressive.”
  • nflation. Everything is about inflation. Why can’t you understand that?Inflation is down to 2.4 percent, has been falling for five straight months, and inflation-adjusted wages are up 4.3 percent over the last two years.I’m sorry, but those are just the facts. Science.
  • People don’t care about fancy economic indicators. They judge the economy on what they see in their real lives. They judge the economy based on the price of gas.
  • Gas is currently at near its lowest price since 2021. It is roughly the same price it was in 2018. (During the Greatest Economy in History.) And because these are nominal prices—meaning, not adjusted for inflation—the real-dollar cost of gas right now is quite cheap.
  • Sorry, the price of gas doesn’t matter. It’s the price of eggs that tells people how the economy is doing.
  • Hold on. In January 2023, egg prices skyrocketed to $4.82 a dozen. That’s when everyone said the price of eggs drove voter sentiment. But six months later the price of eggs was down to $2.09 a dozen and everyone said the price of eggs didn’t matter any more.
  • Well, egg prices are back up—they’re $3.82 a dozen today. So eggs are how people evaluate macroeconomic conditions again.The USDA publishes a list of consumer prices for various grocery items. Here’s a tidbit from the September 2024 report:From July to August 2024, prices increased for seven food-at-home categories, declined for six categories, and remained steady for two categories.It would be helpful to know which prices will determine how voters feel about the economy?
  • In 2016, voters didn’t want to vote for Hillary Clinton because she had too much baggage. She’d been a despised figure in American politics for 20 years. Voters wanted a fresh face with high favorables.
  • I didn’t realize we were going to relitigate 2016, but fine. Kamala Harris is a fresh face who is also completely vetted—she’s been an attorney general, a senator, and vice president. And her favorable rating is net positive! The general public likes her!So she should win this election, right?
  • Today, there aren’t any excuses left. Something like 47 percent of American voters have seen Trump, understood what he was, and wanted it.
  • Win or lose, that’s the fundamental reality this race has laid bare. The next era in American politics will be defined by how we grapple with the implications of this reality for civic life and self-governance.
Javier E

Opinion | Jan. 6, America's Rupture and the Strange, Forgotten Power of Oblivion - The ... - 0 views

  • This is not the first time our nation has survived a profound internal rupture, but it may be the first time in which the political ringleaders of the revolt may very well escape much accountability while hundreds of their followers serve jail time.
  • In previous times of national crisis, the same spirit of mercy that Mr. Biden conjured generally applied to lower-level offenders, while those who had committed the worst crimes were the first to be arrested and tried for their treasonous acts.
  • As a legal mechanism, oblivion promised the return to a past that still had a future, in which the battles of old would not predetermine those still to come. It did not always achieve its lofty aspirations, nor was it appropriate for all conflicts. But the ideals it grasped for had an enduring appeal.
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  • After the Civil War, a series of amnesties were passed, eventually encompassing almost all Confederate soldiers.
  • The complicit were so great in number that identifying and trying every one of them would come at significant cost, but more important, no law could sufficiently condemn what they had done, and no criminal procedure could adequately consecrate the memory of their wrongs.
  • the “act of oblivion,” an ancient, imperfect legal and moral mechanism for bringing an end to episodes of political violence. These acts were invoked when forgiveness was impossible, yet when pragmatism demanded a certain strain of forgetting — a forgetting that instead of erasing unforgivable transgressions, paradoxically memorialized them in the minds of all who had survived their assault
  • Rather than relying upon the courts to deliver impossible and unattainable forms of reckoning, oblivion provided opportunities for the extralegal recognition of political and moral wrongs, and reminded its subjects of the desire for, and necessity of, coexistence.
  • For centuries, legislative “acts of oblivion” were declared in times when betrayal, war and tyranny had usurped and undermined the very foundations of law; when a household or nation had been torn apart, its citizens pitted against one another; when identifying, investigating, trying and sentencing every single guilty party threatened to redouble the harm
  • Under the oblivions of old, the ringleaders of riots, insurrections and tyrannical reigns were prosecuted for their crimes and in many cases were forced out of the cities and states they had once claimed to rule. Treasonous leaders were prohibited from holding public office
  • I wondered what it would mean to revive the old idea of oblivion in our age of seemingly unending memory.
  • Oblivion demanded accountability for those who bore primary responsibility for political rupture and often required material compensation and restitution for the harms don
  • consecrating the facts of what had occurred while refusing to allow the misfortunes of the past to dictate the future.
  • over the course of the 20th century, as the cultural tide gradually turned toward an embrace of remembrance and recrimination, oblivion fell out of favor, and out of collective memory.
  • The oldest act of oblivion is usually dated to 403 B.C., when the Athenians, having survived the bloody reign of the Thirty Tyrants, swore to never remember the wrongs of a war within the family, a civil war that had divided Athens.
  • The 1648 Treaty of Westphalia, the supposed origin point of our world of sovereign states, promised that all the violence, hostility, damage and expenses that had been incurred “on the one side, and the other … shall be bury’d in eternal Oblivion.”
  • In 1660, the Indemnity and Oblivion Act restored the British monarchy after the English Civil War
  • To remember the power of oblivion is not to naïvely wish away the wrongs of the recent past, but rather quite the opposite: By marking certain transgressions as unforgivable and unforgettable, it recognizes the depth of the loss while also opening a path toward political pragmatism
  • the Continental Congress passed a resolution recommending that states treat loyalists with leniency, “to receive such returning penitents with compassion and mercy, and to forgive and bury in oblivion their past failings and transgressions.” Punishments for loyalists were, according to the scholar Mugambi Jouet, “particularly mild” for the era.
  • Over the past several decades, our society has become oversaturated with memory. In our legal system, a single, low-level crime can ruin an individual’s life forever, people are forced to serve sentences for acts that are no longer illegal, and even a sealed conviction or an arrest with no charge can jeopardize job, housing and volunteer opportunities.
  • This virtual culture of incessant, uncompromising remembrance and recrimination has seeped from our screens, affecting the kinds of conversations we are willing to have in public, and with whom.
  • Every day, we depend on our devices to store every photograph, every video, every file. We store all these things because we have learned a bit too well that it is important to remember, to archive, to keep receipts and screenshots. To create a faithful, digitized log not only of our own lives but also of those around us
  • we have been very good students of memory. So good that we have, I think, forgotten what all our memory is for — that it can guide us to choose justice over vengeance
  • Revisiting the forgotten idea of oblivion would give us permission to reconsider our unthinking overdependence on memory and perhaps to begin to let go of all the data, digital and otherwise, that we do not need
  • our personal and political memories, which, left to fester for too long, can corrode and transform, causing us to lose sight of their original force and feeling.
  • Gripped too tightly, memory can become a vengeful and violent force.
  • The unique power of oblivion is that it does not forgive the crimes committed on one side or the other, but rather consecrates and memorializes the profound gravity of the wrongs. It demands accountability and refuses absolution, yet it rejects the project of perpetual punishment.
  • Historically, appeals to oblivion offered political communities the prospect of rethinking the present, presenting a rare opportunity to re-evaluate and confront societal divisions.
Javier E

How Lord of the Rings Shaped JD Vance's Politics - POLITICO - 0 views

  • perhaps Vance’s most millennial trait is just how geeky he is about Lord of the Rings.
  • The trilogy of novels has been a longstanding nerd favorite for decades, but it became the center of culture during Vance’s high school years thanks to Peter Jackson’s movies.
  • Rep. Jim Banks of Indiana, who sat next to Vance in Trump’s friends and family box at the convention Tuesday evening, asked Vance to name his favorite author.
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  • “I would have to say Tolkien,” Vance said. “I’m a big Lord of the Rings guy, and I think, not realizing it at the time, but a lot of my conservative worldview was influenced by Tolkien growing up.” He added of Tolkien’s colleague: “Big fan of C.S. Lewis — really sort of like that era of English writers. I think they were really interesting. They were grappling, in part because of World War II, with just very big problems.”
  • In the books, the future of civilization rests on the search and eventual destruction of The One Ring. While Frodo and Gollum jostle over the singular ring, true fans know there are a total of 20 rings of power. Vance is apparently among those ranks, as the venture capital firm he founded in 2019 is named Narya, named after one of those other rings that Gandalf wears. Vance’s mentor Peter Thiel similarly named his company Palantir after the crystal ball used by Saruman in Lord of the Rings, and Vance has invested in the defense startup Anduril, named after Aragorn’s sword.
  • “By the time of the Lord of the Rings trilogy, Narya has been entrusted to Gandalf to resist the corrupting influence of evil, preserve the world from decay, and give strength to its wielder,”
  • “Gandalf, unlike the other great powers in Lord of the Rings, cared for the hobbits and other lowly people of Middle-Earth, and so it is unsurprising that Vance would see himself as a kind of Gandalf, caring for the forgotten people of his hometown, keeping a watchful eye on them against the corrupting effects of the world.”
  • Luke Burgis, author of a book about René Girard (another of Vance’s intellectual heroes) and Catholic University of America professor, said he suspects “Vance’s appreciation of Tolkien is not unrelated to his conversion to Catholicism in 2019. Of the many ways that Tolkien’s work exemplifies the Catholic imagination, one is the relationship between the visible and the invisible. I think it’s fair to say that Vance believes there is real spiritual evil in this world, and it can become embodied in rites and rituals.” (At a closed-door speech in September 2021, Vance said, “I believe the devil is real and that he works terrible things in our society.)
  • Vance likely took away from Tolkien “an apocalyptic frame of mind” Burgis told me, a final and all-encompassing battle between good and evil
  • The books have a definite anti-war streak. In the Two Towers, the second of the trilogy, Tolkien wrote: “War must be, while we defend our lives against a destroyer who would devour all; but I do not love the bright sword for its sharpness, nor the arrow for its swiftness, nor the warrior for his glory. I love only that which they defend.”
  • Vance has said his own time in the Marines deployed in Iraq was formative to his isolationist, dovish approach to foreign policy. “I served my country honorably, and I saw when I went to Iraq that I had been lied to,” Vance once recounted. “[I saw] that promises of the foreign policy establishment of this country were a complete joke.”
  • But his fandom also is in tension with some of Tolkien’s ideas about how nation-states should approach the outside world. The books are, in many ways, anti-isolationist. Frodo wants to ignore the ill tidings and stay home but eventually realizes that the Shire isn’t untouched by troubles elsewhere (like, say, NATO being pulled into defending Ukraine from Sauron Putin). In the end, Rohan, Gondor, the elves, ents and dwarves, all must band together and end their petty nationalist squabbles. Their lives are, they realize, interconnected.
  • Vance’s love of Lord of the Rings is of a piece with rightward nationalists abroad. Italy’s Giorgia Meloni used to cosplay as a hobbit. “I think that Tolkien could say better than us what conservatives believe in,” she has said, though unlike Vance she has supported aid to Ukraine.
  • Rick Santorum, the former senator and two-time GOP presidential candidate, is a fellow Tolkien-pilled Catholic but he has different takeaways from Vance.
  • “I’m a huge Tolkien fan,” he continued. “I’m also someone who believes that the message of Tolkien is that evil must be confronted. And so the idea is that well, we can wait until it comes to the Shire, but that is not a very good game plan. You gotta go to Mordor.”
  • All of this points to intellectual and spiritual tensions Vance still seems to be working out. “He’s been in office a year and a half. He’s never been greatly involved in politics before this,” Santorum said. “I suspect that this is one of the reasons Trump may have picked him: JD is a smart guy but is still a work in progress.”
  • Those close to Vance say he has been undergoing an awakening since he converted to Catholicism in 2019.
  • Conservative writer Rod Dreher, who Vance invited to his initiation to the faith in 2019 and was present for his first communion, told me that Vance “is thinking broadly about how all must join in the great struggle against darkness — there is no avoiding the struggle — and how God can use the humble and the lowborn to do great things.”
  • “Think about it: Who would have imagined that sad, scared little Ohio boy living in a wreck of a family would have come through it all, and risen to the gates of supreme political power? What might God be doing with him? J.D. Vance might be Frodo of the Hollers, a veritable hillbilly hobbit.”
Javier E

China Rules Solar Energy, but Its Industry at Home Is in Trouble - The New York Times - 0 views

  • Over the past 15 years, China has come to dominate the global market for solar energy. Nearly every solar panel on the planet is made by a Chinese company. Even the equipment to manufacture solar panels is made almost entirely in China. The country’s solar panel exports, measured by how much power they can produce, jumped another 10 percent in May over last year.
  • But China’s solar panel domestic industry is in upheaval.
  • Wholesale prices plummeted by almost half last year and have fallen another 25 percent this year. Chinese manufacturers are competing for customers by cutting prices far below their costs, and still keep building more factories.
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  • Stock prices of its five biggest makers of panels and other equipment have halved in the past 12 months. Since late June, at least seven large Chinese manufacturers have warned that they will announce heavy losses for the first half of this year.
  • The turmoil in the solar energy sector amid enormous factory capacity and booming exports highlights how China’s industrial policymaking works. The government decided 15 years ago to put extensive support behind solar power, and then let the companies claw it out. Beijing has shown a high tolerance for letting firms stumble and even fail in large numbers.
  • Something similar is happening in the automotive sector. Annual car sales in China are around 25 million a year, more than any other country but barely half the country’s ability to make vehicles. So automakers in China are now following the solar industry’s lead in cutting prices sharply and ramping up exports.
  • China’s approach can lead to big financial losses for local governments, state investment funds and state-supported banks, all of which bankroll companies in favored industries.
  • Sunzone’s rivals, including Tongwei and Longi Green Energy Technology, gained formidable economies from large-scale production. They have plowed part of their extra revenue into developing solar panels that are increasingly efficient at converting sunlight into electricity.
  • The rise and fall of Hunan Sunzone Optoelectronics in Changsha, the capital of Hunan Province in south-central China, is a case study of how China’s policies work.
  • “It’s a very expensive development model, but it produces national champions quite reliably,” said David R. Hoffman, a senior adviser on China for the Conference Board, a global business group.
  • Despite the financial help, Sunzone’s factory now sits empty. A large “Sunzone” sign on the second floor rusts in the swampy heat of Changsha. The only person still working at the site on a recent afternoon, a security guard, said that manufacturing equipment was removed in January and the factory was set to be demolished and turned into office buildings.
  • Sunzone epitomizes how lavish lending from state-owned banks and generous local subsidies have produced manufacturing overcapacity. Solar companies cut costs and prices sharply to maintain market share. That led to a few low-cost survivors while many other competitors were driven out of business in China and around the world.
  • China’s banks, acting at Beijing’s direction, have lent so much money to the sector for factory construction that the country’s solar factory capacity is roughly double the entire world’s demand.
  • Started in 2008, the solar panel manufacturer benefited early on from practically every possible subsidy. It got 22 acres of prime downtown land in the heart of the city almost for free. One of China’s biggest state-owned banks arranged a loan at a low interest rate. The Hunan provincial government then agreed to pay most of the interest.
  • Many other factories, like Sunzone’s, quickly become obsolete.
  • “Enterprises continue to put advanced production capacity into operation to maintain competitiveness” said Zhang Jianhua, director of China’s National Energy Administration, at a news conference last month. “At the same time, the outdated production capacity is still extensive and needs to be gradually phased out.”
  • Compounding the problems facing China’s solar energy companies is the rapid disappearance of local subsidies. Local governments are running out of money as a housing crisis makes it hard for them to sell long-term leases on state land to real estate developers — previously their biggest source of cash.
  • Partly because of worries about Chinese subsidies, President Biden last month allowed steep tariffs that had expired to go back into force on solar products imported from Southeast Asia that use lots of Chinese components. And the Department of Commerce has begun trade cases against imported solar panels that could lead to further tariffs.
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