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Javier E

Welcome to the blah blah blah economy - 0 views

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unpredictable economy global

started by Javier E on 17 Dec 22 no follow-up yet
Javier E

Europe's energy crisis may get a lot worse - 0 views

messaging-custom-newsletters.nytimes.com/...oakv2

energy crisis europe policy politics economics

shared by Javier E on 10 Aug 22 - No Cached
  • It was only at the end of April that Russia cut gas supplies to Poland and Bulgaria, the first two victims of its energy-pressure campaign. But overall gas shipments are at less than one-third the level they were just a year ago. In mid-June, shipments through Nord Stream 1 were cut by 75 percent; in July, they were cut again.
  • “It is wartime,” Tatiana Mitrova, a research fellow at Columbia, told her colleague Jason Bordoff, a former adviser to Barack Obama, on an eye-opening recent episode of the podcast “Columbia Energy Exchange.”
  • I think there’s been a gradual and growing recognition that we are headed into the worst global energy crisis at least since the 1970s and perhaps longer than that.
  • ...32 more annotations...
  • “This is something that European politicians and consumers didn’t want to admit for quite a long time. It sounds terrible, but that’s the reality. In wartime the economy is mobilized. The decisions are made by the governments, not by the free market. This is the case for Europe this winter,” she said, adding that we may see forced rationing, price controls, the suspension of energy markets and shutdowns of whole industrial sectors. “We are not actually talking about extremely high prices, but we are talking about physical absence of energy resources in certain parts of Europe.”
  • It’s increasingly clear that Vladimir Putin is using gas as a weapon and trying to supply just enough gas to Europe to keep Europe in a perpetual state of panic about its ability to weather the coming winter.
  • Europe has been finding all the supplies that it can, but governments are realizing that’s not going to be sufficient. There are going to have to be efforts taken to curb demand as well and to prepare for the possibility of really severe energy rationing this winter.
  • If things become really severe this winter, I fear that you could see European countries start to look out for themselves rather than one another.
  • I think we could start to see governments saying, “Well, we’re going to restrict exports. We’re going to keep our energy at home.” Everyone starts to just look out for themselves, which I think would be exactly what Putin would hope for.
  • it would be wise to assume that Russia will use every opportunity it can to turn the screws on Europe.
  • I think you would see Russia continue to restrict gas exports and maybe cut them off completely to Europe — and a very cold winter. I think a combination of those two things would mean sky-high energy prices.
  • governments will have to ration energy supplies and decide what’s important.
  • Since Russia invaded Ukraine and maybe until very recently, I’ve had the sense that the European public and the public beyond Europe, as well as policymakers, have been a little bit sleepwalking into a looming crisis.
  • here was some unrealistic optimism about how quickly Europe could do without Russian gas. And we took too long to confront seriously just how bad the numbers would look if the worst came to pass.
  • I think there was continued skepticism that Putin would really cut the gas supply. “It might be declining. It might be a little bit lower,” people thought. “But he’s not really going to shut off the supply.” And I think now everyone’s recognizing that’s a real possibility.
  • Putin has the ability to do a lot of damage to the global economy — and himself, to be sure — if he cuts oil exports as well.
  • There’s no extra oil supply in the world at all, as OPEC Plus reminded everyone by saying: No, we’re not going to be increasing production much, and we can’t even if we wanted to.
  • For all the talk about high gasoline prices and the rhetoric of Putin’s energy price hike, Russia’s oil exports have not fallen very much. If that were to happen — either because the U.S. and Europe forced oil to come off the market to put economic pressure on Putin or because he takes the oil off the market to hurt all of us — oil prices go up enormously.
  • it depends how much he takes off the market. We don’t know exactly. If Russia were to cut its oil exports completely, the prices would just skyrocket — to hundreds of dollars a barrel, I think.
  • That’s because there’s just no extra supply out there today at all. There’s a very little extra supply that the Saudis and the Emiratis can put on the market. And that’s about it. We’ve used the strategic petroleum reserve, and that’s coming to an end in the next several months.
  • We’re heading into a winter where markets might simply not be able to work anymore as the instrument by which you determine supply and demand.
  • if prices just soar to uncontrollable levels, markets are not going to work anymore. You’re going to need governments to step in and decide who gets the scarce energy supplies — how much goes to heating homes, how much goes to industry. There’s going to be a pecking order of different industries, where some industries are deemed more important to the economy than others.
  • a lot of governments in Europe are putting in place those kinds of emergency plans right now.
  • if the worst comes to pass, governments will, by necessity, step in to say: Homes get the natural gas, and parts of industry get dumped. Probably they would set price caps on energy or massively subsidize it. So it’s going to be very painful.
  • Worryingly for the European economy, this may mean that factories that can’t switch fuels will go dormant.
  • Today, before winter comes, gas prices in Europe are around $60 per million British thermal units. That compares to around $7 to $8 here in the United States
  • if the worst comes to pass, the market, as a mechanism, simply won’t work. The market will break. The prices will go too high. There’s just not enough energy for the market to balance at a certain price.
  • don’t forget, the amount of liquid natural gas that Europe is importing today — Asia is competing for those shipments. What happens if the Asia winter is very bad? What happens if China and others are willing to pay very high prices for it?
  • I think we’re in a multiyear potential energy crisis.
  • one thing that hasn’t gotten enough attention and that I worry most about is the impact this is having on emerging markets and the developing economies, because it is an interconnected market. When Europe is competing to buy L.N.G. at very high prices, not to mention Asia, that means if you’re in Pakistan or Bangladesh or lower-income countries, you’re really struggling to afford it. You’re just priced out of the market for natural gas — and coal. Coal is incredibly expensive now,
  • I think that that is a real potential humanitarian crisis, as a ripple effect of what’s happening in Europe right now.
  • right now, the price of gas in Europe is about four times what it was last year. Russia has cut flows to Europe by two-thirds but is earning the same revenue as it did last year. So Putin is not being hurt by the loss of gas exports to Europe. Europe’s being hurt by that.
  • this situation could last for several years.
  • Could the energy crisis bring about a change of heart, in which European countries withdraw some of their support or even begin to pressure Ukraine to negotiate a settlement? Is it possible that could even happen in advance of this winter?
  • you would imagine that, over time, when you don’t see Ukraine on the front page each and every day, eventually people’s attention wanes a bit and at a certain point the economic pain of high energy prices or other economic harms from the conflict reach a point where support may start to fracture a bit.
  • Whether that reaches a point where you start to see the West put pressure on Ukraine to capitulate, I think we’re pretty far away from that now, because everyone recognizes how outrageous and unacceptable Putin’s conduct is.
Javier E

The inadequacy of the stories we told about the pandemic - 0 views

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race partisan covid infection fatalities research results pandemic culture

shared by Javier E on 13 Oct 22 - No Cached
  • Increasingly, it feels possible to take stock not just of what happened but also of the inadequacy of some of the stories we told ourselves to make sense of the mess.
  • This week, I want to consider two prominent frameworks about the pandemic that are nevertheless rarely considered alongside each other: disparities in Covid mortality by race and by partisanship.
  • Partisanship was a huge driver of that more significant second-year failure, since Republican resistance to vaccination explains a large share of cumulative American Covid mortality
  • ...25 more annotations...
  • Black mortality was 65 percent higher and Hispanic mortality 75 percent higher.
  • at least in Ohio and Florida, despite what seemed at the time to be almost unbridgeable divides over things like mask wearing and school closures, social distancing and lockdowns, the excess mortality gap between Republicans and Democrats in the pre-vaccine phase of the pandemic was relatively small, with Republican excess mortality only 22 percent higher than the death rate among Democrats.
  • The country clearly stumbled in 2020. And yet before vaccines were widely available, and when we tried to slow the spread of the disease through behavioral measures, the scale of the failure was relatively small compared with what followed in the years after.
  • In 2020, American death rates and excess mortality fell merely at the worse end of its peer countries — above Germany and barely France but below Britain, Italy and Spain, for instance
  • In the vaccine era of the pandemic, American performance has been much worse, with our death rates becoming much more conspicuous and dramatic outliers — enough to make the country by far the worst performing of its peers.
  • Overall — from the beginning of the pandemic until the arrival of Omicron — Republican excess mortality in Ohio and Florida was 76 percent higher than Democratic excess mortality.
  • only 62 percent of Republicans have completed their primary vaccinations, compared with 87 percent of Democrats.
  • income and education tell a similar story: Only 67 percent of Americans with household incomes below $40,000 have completed their primary vaccinations, compared with 85 percent with household incomes above $90,000
  • What does this all mean for the next pandemic fall and winter? Well, thankfully, the racial and ethnic gaps around vaccination have almost entirely closed, which is one major reason the mortality gap has, too: According to Kaiser, 74 percent of Black and Hispanic Americans have been vaccinated, compared with 77 percent of whites
  • The demographic gaps for boosters are slightly larger: 50 percent of white adults have been boosted, according to Kaiser, compared with 43 percent of Black adults and 40 percent of Hispanic adults. (Only 31 percent of Republicans have been boosted.)
  • while the news from Europe isn’t especially reassuring, it would probably take an Omicron-like curveball to deliver a new American peak like those we experienced each of the previous two winters, and there does not seem to be anything like that on the horizon.
  • But according to The Times’s global vaccination tracker, Americans are doing almost exactly as poorly with boosters as we did with the first round of vaccines, not worse. The country ranks 66th globally in the share of population that has completed a primary vaccination course. For a first booster, it ranks 71s
  • One set of answers is implied by the story of vaccination and mortality by race, and the way improvements on one measure changed the trajectory of the other: more first shots and more boosting. This is the central strategy offered by the Biden administration. But the vaccinated share of the country has barely grown in months, and the uptake of next generation bivalent boosters looks, in the early stages, quite abysmal.
  • yet Americans are still dying at an annualized rate above 100,000 — a rate that may well grow as we head deeper into the fall. What are we doing about that?
  • another possible set of responses suggests itself too, one that wouldn’t require a reversal of vaccination trends or a transformation of the pandemic culture war either: an approach to public health infrastructure, both literal and legal, that would reduce spread through background interventions without meaningfully burdening individual Americans at all.
  • in a perverse way the arrival of vaccines seemed to almost retire them from public discussion. They include better ventilation in public buildings, particularly schools
  • Testing could help, too, of course, though culturally it seems to have been dumped into a bucket with masks, as an individual tool and individual burden, rather than one with investments in ventilation improvements, as part of an invisible Covid-mitigating infrastructure
  • Over the last six months, an individual risk approach to Covid has predominated — both at the level of public health guidance and for most individuals navigating the new, quasi-endemic landscape
  • This argument is unhelpful, not just because it is needlessly toxic but also because the terms themselves are inadequate. One of the lessons of that early phase of the pandemic, and especially its racial disparities, is that mitigation is not strictly a matter of individual risk management. Spread matters, too, as do structural factors. We have tools to help both, without returning the country psychologically to the depths of Covid panic.
  • And although the partisan gap grew with the arrival of vaccines, it never grew as large as the racial gap had been in early 2020. In 2021, Republican excess mortality in those two states was at its highest, compared to Democratic levels: 153 percent. At the peak of racial disparity in the pandemic’s first wave, Black Americans were dying more than three times as much as white Americans.
  • structural factors — not only race but class and education, too — appear to loom just as large, complicating any intuitive model of what went wrong here that emphasizes the pandemic culture war above all else.
  • Especially in the initial phases of spread, it can be hard to disentangle the effects of policy and behavioral response from somewhat random drivers like where the virus arrived first, what sorts of places those were and what kinds of people populated them, and even what the weather was like
  • This dynamic changed almost on a dime with the introduction of vaccines, with an enormous gap opening up between Democrats and Republicans in 2021
  • the excess mortality data collected here suggests that however self-destructive red states and Republican individuals seemed to be, in 2020, the ultimate cost of that recklessness was less dramatic.
  • For Americans without college degrees, the number is also 67 percent, compared with 85 percent of college graduates. For uninsured adults under 65, it is just 60 percent
nataliedepaulo1

John Kasich: Repealing Medicaid expansion is 'a very, very bad idea' - CNNPolitics.com - 0 views

www.cnn.com/...index.html

shared by nataliedepaulo1 on 23 Feb 17 - No Cached
  • Email<
  • Washington (CNN)Ohio Gov. John Kasich says he won't "sit silent" and watch the Affordable Care Act's Medicaid expansion get "ripped out" as Republicans work to repeal the law.
  • Kasich said 700,000 Ohio residents now receive care who did not before Obamacare became law, including "a third of whom have mental illness and need to be treated or drug treatment, which is a problem throughout the country."
blythewallick

6 Takeaways From the January 2020 Democratic Debate - The New York Times - 0 views

www.nytimes.com/...democratic-debate-live.html

politics US gop

shared by blythewallick on 16 Jan 20 - No Cached
  • There was little incentive to go on the attack.
  • It’s a reflection of the muddled state of the race. The candidates have all made a calculation that being the aggressor in any interpersonal conflict would only lead to increasing their unfavorable ratings — or falling down Iowa caucusgoers’ second-choice lists, a critical element because supporters of candidates who don’t receive 15 percent support will be free to back someone else.
  • The Sanders-Warren clash fell flat — until after the debate.
  • ...10 more annotations...
  • Ms. Warren did highlight her status as the top-polling female contender at several points in the debate, ending her closing statement with a reference to the possibility of electing the first woman president.
  • Warren makes her electability pitch.
  • One of Ms. Warren’s biggest political obstacles is the perception among some voters that she would face daunting challenges in a general election — both thanks to her boldly progressive outlook, and to societal sexism that many Democrats believe damaged Mrs. Clinton in 2016. @charset "UTF-8"; /*********************** B A S E S T Y L E S ************************/ /************************************* T Y P E : C L A S S M I X I N S **************************************/ /* Headline */ /* Leadin */ /* Byline */ /* Dateline */ /* Alert */ /* Subhed */ /* Body */ /* Caption */ /* Leadin */ /* Credit */ /* Label */ /********** S I Z E S ***********/ /******************** T Y P O G R A P H Y *********************/ .g-headline, .interactive-heading, .g-subhed { font-family: "nyt-cheltenham", georgia, "times new roman", times, serif; } .g-alert, .g-alert.g-body, .g-alert_link, .g-byline, .g-caption, .g-caption_bold, .g-caption_heading, .g-chart, .g-credit, .g-credit_bullet, .g-dateline, .g-label, .g-label_white, .g-leadin, #interactive-leadin, .g-refer, .g-refer.g-body, .g-table-text { font-family: nyt-franklin, arial, helvetica, sans-serif; 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} .g-alert, .g-alert.g-body, .g-alert_link, .g-byline, .g-caption, .g-caption_bold, .g-caption_heading, .g-chart, .g-credit, .g-credit_bullet, .g-dateline, .g-label, .g-label_white, .g-leadin, #interactive-leadin, .g-refer, .g-r
  • And she invoked her 2012 victory over then-Senator Scott P. Brown, Republican of Massachusetts, as she declared herself “the only person on this stage who has beaten an incumbent Republican anytime in the past 30 years.”
  • Klobuchar throws punches.
  • Yet while she described herself as a winner tethered to the Midwest, somebody whose friends and neighbors hail from flyover country, she didn’t come out of Tuesday’s debate with any significant headlines of her own.
  • The only vetting of Buttigieg came from the moderator Abby Phillip on race.
  • Mr. Buttigieg deftly dodged by suggesting that the black voters who “know me best” — in his native South Bend — chose him twice to lead the city. And he cited recent endorsements from Representative Anthony Brown of Maryland and Mayor Quentin Hart of Waterloo, Iowa, who this week became the two most prominent African-American elected officials to back him.
  • Biden avoids attacks.
  • Mr. Biden, who flew under the radar particularly at the last debate, often stayed in his comfort zones — discussing foreign policy and health care — and he was not the center of the kind of memorable exchanges that had dealt his campaign blows earlier in the race.
Javier E

Climate activists mixed hardball with a long game - 0 views

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climate politics policy gnd activism green

shared by Javier E on 29 Jul 22 - No Cached
  • Although the story will be much more heroic if this bill or something like it passes into law, the achievement is already heroic, by bringing such legislation, in this country, even this close.
  • In less than five years, a new generation of activists and aligned technocrats has taken climate action from the don’t-go-there zone of American politics and helped place it at the very center of the Democratic agenda, persuading an old-guard centrist septuagenarian, Biden, to make a New Deal-scale green investment the focus of his presidential campaign platform and his top policy priority once in office
  • This, despite a generation of conventional wisdom that the issue was electorally fraught and legislatively doomed. Now they find themselves pushing a recognizable iteration of that agenda — retooled and whittled down, yes, but still unthinkably large by the standards of previous administrations — plausibly forward into law.
  • ...18 more annotations...
  • If you believe that climate change is a boutique issue prioritized only by out-of-touch liberal elites, as one poll found, then this bill, should it pass, represents a political achievement of astonishing magnitude: the triumph of a moral crusade against long odds.
  • if you believe there is quite a lot of public support for climate action, as other polls suggest — then this bill marks the success of outsider activists in holding establishment forces to account, both to their own rhetoric and to the demands of their voters.
  • whatever your read of public sentiment, what is most striking about the news this week is not just that there is now some climate action on the table but also how fast the landscape for climate policy has changed, shifting all of our standards for success and failure along with it
  • The bill may well prove inadequate, even if it passes. It also represents a generational achievement — achieved, from the point of view of activists, in a lot less time than a full generation.
  • Technological progress has driven the cost of renewable energy down so quickly, it should now seem irresistible to anyone making long-term policy plans or public investments. There has been rapid policy innovation among centrists and policy wonks, too, dramatically expanding the climate tool kit beyond carbon taxes and cap-and-trade systems to what has been called a whole-of-government approach to decarbonizing.
  • To trust the math of its architects, this deal between Manchin and the Senate majority leader, Chuck Schumer, splits the difference — the United States won’t be leading the pack on decarbonization, but it probably won’t be seen by the rest of the world as a laughingstock or climate criminal, either.
  • None of this is exclusively the work of the climate left
  • The present-day climate left was effectively born, in the United States, with the November 2018 Sunrise Movement sit-in. At the time, hardly anyone on the planet had heard of Greta Thunberg, who had just begun striking outside Swedish Parliament — a lonely, socially awkward 15-year-old holding up a single sign. Not four years later, her existential rhetoric is routinely echoed by presidents and prime ministers and C.E.O.s and secretaries general, and more than 80 percent of the world’s economic activity and emissions are now, theoretically, governed by net-zero pledges pointing the way to a carbon-neutral future in just decades.
  • as the political scientist Matto Mildenberger has pointed out, the legislation hadn’t failed at the ballot box; it had stalled on Manchin’s desk
  • He also pointed to research showing climate is driving the voting behavior of Democrats much more than it is driving Republicans into opposition and that most polling shows high levels of baseline concern about warming and climate policy all across the country. (It is perhaps notable that as the Democrats were hashing out a series of possible compromises, there wasn’t much noise about any of them from Republicans, who appeared to prefer to make hay about inflation, pandemic policy and critical race theory.)
  • It is hard not to talk about warming without evoking any fear, but the president was famous, on the campaign trail and in office, for saying, “When I think ‘climate change,’ I think ‘jobs.’”
  • He focused on green growth and the opportunities and benefits of a rapid transition.
  • In the primaries, Sunrise gave Biden an F for his climate plan, but after he sewed up the nomination, its co-founder Varshini Prakash joined his policy task force to help write his climate plan. As the plan evolved and shrank over time, there were squeaks and complaints here and there but nothing like a concerted, oppositional movement to punish the White House for its accommodating approach to political realities.
  • over the past 18 months, since the inauguration, whenever activists chose to protest, they were almost always protesting not the inadequacy of proposed legislation but the worrying possibility of no legislation at all
  • When they showed up at Manchin’s yacht, they were there to tell him not that they didn’t want his support but that they needed him to act. They didn’t urge Biden to throw the baby out with the bathwater; they were urging him not to.
  • When, last week, they thought they’d lost, Democratic congressional staff members staged an unprecedented sit-in at Schumer’s office, hoping to pressure the Senate majority leader back into negotiations with Manchin. And what did they say? They didn’t say, “We have eight years to save the earth.” They didn’t say, “The blood of the future is on your hands.” What their protest sign said was “Keep negotiating, Chuck.” As far as I can tell, this was code for “Give Joe more.”
  • They got their wish. And as a result, we got a bill. That’s not naïveté but the opposite.
  • The deal, if it holds, is very big, several times as large as anything on climate the United States passed into law before. The architects and supporters of the $369 billion in climate and clean-energy provisions in Joe Manchin’s Inflation Reduction Act of 2022, announced Wednesday, are already calculating that it could reduce American carbon emissions by 40 percent, compared with 2005 levels, by 2030. That’s close enough to President Biden’s pledge of 50 percent that exhausted advocates seem prepared to count it as a victory
sarahbalick

ISIS: Leaked documents reveal fighters' preferences - CNN.com - 0 views

www.cnn.com/...index.html

leaked documents isis

shared by sarahbalick on 11 Mar 16 - No Cached
  • What's your first and last name? Your education and work experience? Do you have recommendations? And are you willing to be a suicide attacker or would you prefer to be a fighter for ISIS?
  • Germany's interior minister said he believes data in the documents -- described by European media as the names and personal data of tens of thousands of possible ISIS recruits -- could allow authorities to prosecute people who joined ISIS and then returned to their home countries.
  • If they did not hear from him, they would know that he is dead."
  • ...9 more annotations...
  • as I have a headache because (of) shrapnel in my head."
  • Search »U.S. Edition+U.S.InternationalArabicEspañolSet edition preference:U.S.InternationalConfirmU.S. Edition+U.S.InternationalArabicEspañolSet edition preference:U.S.InternationalConfirmHomeU.S.Crime + JusticeEnergy + EnvironmentExtreme WeatherSpace + ScienceWorldAfricaAmericasAsiaEuropeMiddle Easthpt=aGVhZGVyXzE0Y29sX21pZGRsZWVhc3RfYXJ0aWNsZV9wb2xpdGljc19uby12YWx1ZS1zZXRfbm8tdmFsdWUtc2V0X3pvbmUtbGV2ZWxfbm8tdmFsdWUtc2V0;hpt2=aGVhZGVyXzE0Y29sX21pZGRsZWVhc3RfYXJ0aWNsZV9wb2xpdGljc19uby12YWx1ZS1zZXRfb
  • The words include answers to simple questions such as the would-be militant's birth date, blood type, address, marital status and countries visited.
  • German intelligence officials said they, too, have similar if not identical documents, though they didn't detail how they got them.
  • That means the people questioned could have gone into ISIS-controlled territory, have been turned away or perhaps fought for the terror group in Syria and Iraq and then perhaps left. If they aren't in the war zone, one fear is that they may bring their ISIS approach, tactics and mindset elsewhere -- perhaps proving a threat to other countries.
  • Koths said. "We are taking these into consideration of our law enforcement measures and security. "
  • We have seen the attacks perpetrated on mainland Europe over the past year,"
  • That is why it is so important for us to work together to counter this threat."
  • Form has 23 items
katyshannon

Periodic table's seventh row finally filled as four new elements are added | Science | ... - 0 views

www.theguardian.com/...as-four-new-elements-are-added

IFTTT chemistry new elements periodic table discovery history Education science

shared by katyshannon on 06 Jan 16 - No Cached
  • Guardian staff Sunday 3 January 2016 22.28&nbsp;EST Last modified on Tuesday 5 January 2016 11.48&nbsp;EST Share on Facebook Share on Twitter Share via Email Share on Pinterest Share on LinkedIn Share on Google+ Share on WhatsApp Shares 104,402 104k Comments 1,300 rounded-icon inline-bookmark inli
  • Four new elements have been added to the periodic table, finally completing the table’s seventh row and rendering science textbooks around the world instantly out of date.
  • The elements, discovered by scientists in Japan, Russia and America, are the first to be added to the table since 2011, when elements 114 and 116 were added.
  • ...9 more annotations...
  • The four were verified on 30 December by the US-based International Union of Pure and Applied Chemistry, the global organisation that governs chemical nomenclature, terminology and measurement.
  • IUPAC announced that a Russian-American team of scientists at the Joint Institute for Nuclear Research in Dubna and Lawrence Livermore National Laboratory in California had produced sufficient evidence to claim the discovery of elements 115, 117 and 118.
  • The body awarded credit for the discovery of element 113, which had also been claimed by the Russians and Americans, to a team of scientists from the Riken institute in Japan.
  • Kosuke Morita, who was leading the research at Riken, said his team now planned to “look to the unchartered territory of element 119 and beyond.” Ryoji Noyori, former Riken president and Nobel laureate in chemistry said: “To scientists, this is of greater value than an Olympic gold medal”.
  • The elements, which currently bear placeholder names, will be officially named by the teams that discovered them in the coming months. Element 113 will be the first element to be named in Asia.
  • “IUPAC has now initiated the process of formalising names and symbols for these elements temporarily named as ununtrium, (Uut or element 113), ununpentium (Uup, element 115), ununseptium (Uus, element 117), and ununoctium (Uuo, element 118).”
  • New elements can be named after a mythological concept, a mineral, a place or country, a property or a scientist.
  • The four new elements, all of which are synthetic, were discovered by slamming lighter ­nuclei into each other and tracking the following decay of the radioactive superheavy elements.
  • Like other superheavy elements that populate the end of the periodic table, they only exist for fractions of a second before decaying into other elements.
malonema1

Trump walks back sanctions against Russia, contradicting Nikki Haley - TODAY.com - 0 views

www.today.com/...-chuck-todd-says-1221829187930

trump politics US

shared by malonema1 on 01 May 18 - No Cached
  • Trump does deserve credit for North Korean talks, Chuck Todd says
  • Meet the Press Moderator joins Sunday TODAY’s Chuck Todd and says President Donald Trump deserves credit for helping create conditions to start talks of denuclearization with North Korea, but says some questions still loom. {&quot;1222279235816&quot;:{&quot;mpxId&quot;:&quot;1222279235816&quot;,&quot;canonical_url&quot;:&quot;https://www.today.com/video/oregon-trucker-recounts-walking-36-miles-after-losing-his-way-1222279235816&quot;,&quot;canonicalUrl&quot;:&quot;https://www.today.com/video/oregon-trucker-recounts-walking-36-miles-after-losing-his-way-1222279235816&quot;,&quot;legacy_url&quot;:&quot;https://www.today.com/video/oregon-trucker-recounts-walking-36-miles-after-losing-his-way-1222279235816&quot;,&quot;playerUrl&quot;:&quot;https://www.today.com/offsite/oregon-trucker-recounts-walking-36-miles-after-losing-his-way-1222279235816&quot;,&quot;ampPlayerUrl&quot;:&quot;https://player.today.com/offsite/oregon-trucker-recounts-walking-36-miles-after-losing-his-way-1222279235816&quot;,&quot;relatedLink&quot;:&quot;&quot;,&quot;sentiment&quot;:&quot;Neutral&quot;,&quot;shortUrl&quot;:&quot;https://www.today.com/video/oregon-trucker-recounts-walking-36-miles-after-losing-his-way-1222279235816&quot;,&quot;description&quot;:&quot;Jacob Cartwright, a truck driver in Oregon, accidentally plugged the wrong address into his GPS and wound up lost more than 100 miles out of his way. 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Javier E

Opinion | Yes, the Coronavirus Is in the Air - The New York Times - 0 views

www.nytimes.com/...coronavirus-aerosols.html

Covid-19 transmission research

shared by Javier E on 30 Jul 20 - No Cached
  • The World Health Organization has now formally recognized that SARS-CoV-2, the virus that causes Covid-19, is airborne and that it can be carried by tiny aerosols.
  • until earlier this month, the W.H.O. — like the U.S. Centers for Disease Control and Prevention or Public Health England — had warned mostly about the transmission of the new coronavirus through direct contact and droplets released at close range.
  • After several months of pressure from scientists, on July 9, the W.H.O. changed its position — going from denial to grudging partial acceptance: “Further studies are needed to determine whether it is possible to detect viable SARS-CoV-2 in air samples from settings where no procedures that generate aerosols are performed and what role aerosols might play in transmission.”
  • ...24 more annotations...
  • A month later, I believe that the transmission of SARS-CoV-2 via aerosols matters much more than has been officially acknowledged to date.
  • This confirms the results of a study from late May (not peer-reviewed) in which Covid-19 patients were found to release SARS-CoV-2 simply by exhaling — without coughing or even talking. The authors of that study said the finding implied that airborne transmission “plays a major role” in spreading the virus.
  • Accepting these conclusions wouldn’t much change what is currently being recommended as best behavior. The strongest protection against SARS-CoV-2, whether the virus is mostly contained in droplets or in aerosols, essentially remains the same: Keep your distance and wear masks.
  • Rather, the recent findings are an important reminder to also be vigilant about opening windows and improving airflow indoors. And they are further evidence that the quality of masks and their fit matter, too.
  • here is no neat and no meaningful cutoff point — at 5 microns or any other size — between droplets and aerosols: All are tiny specks of liquid, their size ranging along a spectrum that goes from very small to really microscopic.
  • Yes, droplets tend to fly through the air like mini cannonballs and they fall to the ground rather quickly, while aerosols can float around for many hours.
  • The practical implications are plain:Social distancing really is important. It keeps us out of the most concentrated parts of other people’s respiratory plumes. So stay away from one another by one or two meters at least — though farther is safer.
  • “The smaller the exhaled droplets, the more important the short-range airborne route.”
  • Can you walk into an empty room and contract the virus if an infected person, now gone, was there before you? Perhaps, but probably only if the room is small and stuffy.
  • Can the virus waft up and down buildings via air ducts or pipes? Maybe, though that hasn’t been established.
  • another, recent, preprint (not peer reviewed) about the Diamond Princess concluded that “aerosol inhalation was likely the dominant contributor to Covid-19 transmission” among the ship’s passengers.
  • It might seem logical, or make intuitive sense, that larger droplets would contain more virus than do smaller aerosols — but they don’t.
  • The Lancet Respiratory Medicine that analyzed the aerosols produced by the coughs and exhaled breaths of patients with various respiratory infections found “a predominance of pathogens in small particles” (under 5 microns). “There is no evidence,” the study also concluded, “that some pathogens are carried only in large droplets.”
  • I believe that, taken together, much of the evidence gathered to date suggests that close-range transmission by aerosols is significant — possibly very significant, and certainly more significant than direct droplet spray.
  • But basic physics also says that a 5-micron droplet takes about a half-hour to drop to the floor from the mouth of an adult of average height — and during that time, the droplet can travel many meters on an air current. Droplets expelled in coughs or sneezes also travel much farther than one meter.
  • Wear a mask. Masks help block aerosols released by the wearer. Scientific evidence is also building that masks protect the wearer from breathing in aerosols around them.
  • When it comes to masks, size does matter.
  • My lab has been testing cloth masks on a mannequin, sucking in air through its mouth at a realistic rate. We found that even a bandanna loosely tied over its mouth and nose blocked half or more of aerosols larger than 2 microns from entering the mannequin.
  • Ventilation counts. Open windows and doors. Adjust dampers in air-conditioning and heating systems. Upgrade the filters in those systems. Add portable air cleaners, or install germicidal ultraviolet technologies to remove or kill virus particles in the air.
  • Avoid crowds. The more people around you, the more likely someone among them will be infected. Especially avoid crowds indoors, where aerosols can accumulate.
  • We also found that especially with very small aerosols — smaller than 1 micron — it is more effective to use a softer fabric (which is easier to fit tightly over the face) than a stiffer fabric (which, even if it is a better filter, tends to sit more awkwardly, creating gaps).
  • One study from 2013 found that surgical masks reduced exposure to flu viruses by between 10 percent and 98 percent (depending on the mask’s design).A recent paper found that surgical masks can completely block seasonal coronaviruses from getting into the air.To my knowledge, no similar study has been conducted for SARS-CoV-2 yet, but these findings might apply to this virus as well since it is similar to seasonal coronaviruses in size and structure.
  • What about the outbreak on the Diamond Princess cruise ship off Japan early this year? Some 712 of the 3,711 people on board became infected.
  • Consider the case of a restaurant in Guangzhou, southern China, at the beginning of the year, in which one diner infected with SARS-CoV-2 at one table spread the virus to a total of nine people seated at their table and two other tables.Yuguo Li, a professor of engineering at the University of Hong Kong, and colleagues analyzed video footage from the restaurant and in a preprint (not peer reviewed) published in April found no evidence of close contact between the diners.Droplets can’t account for transmission in this case, at least not among the people at the tables other than the infected person’s: The droplets would have fallen to the floor before reaching those tables.But the three tables were in a poorly ventilated section of the restaurant, and an air conditioning unit pushed air across them. Notably, too, no staff member and none of the other diners in the restaurant — including at two tables just beyond the air conditioner’s airstream — became infected.
julia rhodes

Echoes of Palestinian partition in Syrian refugee crisis | Al Jazeera America - 0 views

america.aljazeera.com/...tioninsyrianrefugeecrisis.html

palestinian refugee crisis policy history politics syria

shared by julia rhodes on 30 Dec 13 - No Cached
  • With more than 2 million Syrians already living outside their war-torn country and 1 million more expected to flee in the coming months, there is a growing protection gap. Indeed, a report (PDF) released in November by Harvard University shows that even Canada, which prides itself on being hospitable to refugees, has been systematically closing its borders to asylum seekers. Without a doubt, development-related aid is an important incentive to host countries, and providing sanctuary for vulnerable populations is just as vital, but what refugees need most is a legal status, which can be achieved only through a regional framework of protection and national asylum policies. The Bangkok Principles are a good start because they highlight the commitment among these states to develop a regional framework and national solutions to protect refugees, with the support of the international community. The U.S. must do its part and encourage the Middle East to build on these principles. Syrians deserve an organized and effective framework, and the risk of turning our backs is that Syrians, along with the Palestinians, will be wandering without a homeland. Galya Benarieh Ruffer is the founding director of the Center for Forced Migration Studies at the Buffett Center for International and Area Studies at Northwestern University and a public voices faculty fellow with the OpEd Project.&nbsp; The views expressed in this article are the author's own and do not necessarily reflect Al Jazeera America's editorial policy. 180401 Join the Conversation Post a new commentLogin&nbsp;&nbsp; c
  • Although the cause of Syrians fleeing their homeland today differs fundamentally from the flight of Palestinians in 1948, one crucial similarity is the harsh reception they are experiencing in neighboring countries. The tragedy of the Syrian refugee crisis is palpable in news stories and in the images of those risking their lives in rickety boats on Europe’s shores. More than one-third of Syria’s population has been displaced, and its effects are rippling across the Middle East. For months, more than 1,500 Syrians (including 250 children) have been detained in Egypt. Hundreds of adults are protesting grotesque conditions there with a hunger strike. Lebanon absorbed the most refugees but now charges toward economic collapse, while Turkey will house 1 million Syrians by the year’s end.
  • The surge of Syrians arriving in urban centers has brought sectarian violence, economic pressure and social tensions. As a result, these bordering countries, having already spent billions of dollars, are feeling less hospitable and are starting to close their borders to Syrians.
  • ...11 more annotations...
  • A Dec. 13 Amnesty International report calls the Syrian refugee crisis an international failure, but this regional crisis necessitates a regional response — one that more systematically offers Syrian refugees legal protections. The Amnesty report rightly points out that it is not just the European Union that is failing the refugees. It is the countries of the Gulf Cooperation Council that, in spite of their wealth and support for the military action in Syria, have not offered any resettlement or humanitarian admission places to refugees from Syria.&nbsp;
  • After World War II, the European refugee crisis blotted out other partition crises across the globe as colonial powers withdrew in South Asia, Africa and the Middle East. Partitions at the time were about questions of borders and the forced un-mixing of populations.
  • The 1951 Convention Relating to the Status of Refugees — the international legal framework for the protection of refugees, which obligated states to not return refugees to their countries of origin (non-refoulement), to respect refugees’ basic human rights and to grant them freedoms equivalent to those enjoyed by foreign nationals living legally in the country — did not include those displaced from partitioned countries in its definition of a refugee.
  • Today, this largely leaves Syrian refugees entering those countries without legal recourse. It is also the most dangerous injustice that Syrian refugees face.
  • Turkey is heeding the call. In April it enacted a law establishing the country’s first national asylum system providing refugees with access to Turkish legal aid
  • The origins of the Middle East’s stagnation lie in the partition of Palestine in 1948. When half a million Arab refugees fled Jewish-held territory, seeking refuge in neighboring states, countries like Lebanon and Saudi Arabia moved to stop them. In the final days of the drafting of the United Nation General Assembly’s Universal Declaration of Human Rights, with the war in Palestine raging, Saudi Arabia persuaded many countries, including the U.S., to dilute the obligation of a state to grant asylum. The Middle Eastern countries feared that they would be required to absorb Palestinians and that Palestinians might lose a right of return to what is now Israel.
  • I am heartened by the United Nations High Commissioner for Refugees’ recent call not just for financial and humanitarian assistance and emergency development in the Middle East to aid Syria but also for legal protection for refugees.
  • Bangkok Principles on the Status and Treatment of Refugees. Formally adopted in 2001, the principles provide for a right of return, a broader definition of a refugee and a mandate that countries take up the responsibility of determining refugee status based on rule of law.
  • With more than 2 million Syrians already living outside their war-torn country and 1 million more expected to flee in the coming months, there is a growing protection gap. Indeed, a report (PDF) released in November by Harvard University shows that even Canada, which prides itself on being hospitable to refugees, has been systematically closing its borders to asylum seekers.
  • what refugees need most is a legal status, which can be achieved only through a regional framework of protection and national asylum policies.
  • The Bangkok Principles are a good start because they highlight the commitment among these states to develop a regional framework and national solutions to protect refugees, with the support of the international community. The U.S. must do its part and encourage the Middle East to build on these principles. Syrians deserve an organized and effective framework, and the risk of turning our backs is that Syrians, along with the Palestinians, will be wandering without a homeland.
brookegoodman

Coronavirus map of the US: latest cases state by state | World news | The Guardian - 0 views

www.theguardian.com/...us-latest-cases-state-by-state

us crisis

shared by brookegoodman on 27 Mar 20 - No Cached
  • The number of confirmed cases of Covid-19 continues to grow in the US. Mike Pence, the vice-president, is overseeing the US response to the coronavirus.
  • Confirmed cases 85,919 (Today: +2,083) Deaths 1,297 (Today: +88)
  • State/territory Confirmed cases Deaths New York 39,140 461 New Jersey 6,876 81 California 4,040 82 Washington 3,207 150 Michigan 2,844 61 Illinois 2,542 26 Florida 2,484 29 Massachusetts 2,417 25 Louisiana 2,304 83 Pennsylvania 1,813 18 Texas 1,658 24 Georgia 1,642 56 Colorado 1,430 19 Tennessee 1,097 3 Connecticut 1,012 21 Ohio 870 15 North Carolina 755 3 Wisconsin 728 10 Indiana 657 17 Maryland 583 4 Nevada 536 10 Alabama 531 1 Missouri 520 9 Arizona 508 8 Mississippi 485 6 Virginia 468 10 South Carolina 456 9 Utah 396 1 Arkansas 349 2 Minnesota 344 2 Oregon 317 11 District of Columbia 267 3 Oklahoma 248 7 Kentucky 247 5 Idaho 191 3 Iowa 179 1 Kansas 172 3 Rhode Island 165 0 Vermont 158 9 Maine 155 0 New Hampshire 154 1 Delaware 143 1 New Mexico 136 1 Hawaii 106 0 Montana 90 1 Nebraska 82 0 West Virginia 76 0 Puerto Rico 64 2 North Dakota 57 0 Alaska 56 1 Wyoming 56 0 South Dakota 46 1 Guam 45 1 Virgin Islands 17 0
Javier E

Britain's cautionary tale of self-destruction - 0 views

messaging-custom-newsletters.nytimes.com/...oakv2

uk decline causes austerity crisis policy history politics

shared by Javier E on 26 Jan 23 - No Cached
  • Post-Covid, the geopolitical order has been thrown into tumult. At the beginning of the pandemic, commentators wondered about the fate of the United States, its indifferent political leadership and its apparently diminished “state capacity.” Lately, they have focused more on the sudden weakness of China: its population in decline, its economy struggling more than it has in decades, its “zero Covid” reversal
  • the descent of Britain is in many ways more dramatic. By the end of next year, the average British family will be less well off than the average Slovenian one, according to a recent analysis by John Burn-Murdoch at The Financial Times; by the end of this decade, the average British family will have a lower standard of living than the average Polish one.
  • On the campaign trail and in office, promising a new prosperity, Boris Johnson used to talk incessantly about “leveling up.” But the last dozen years of uninterrupted Tory rule have produced, in economic terms, something much more like a national flatlining.
  • ...14 more annotations...
  • two economists asked whether the ongoing slowdown in British productivity was unprecedented. Their answer: not quite, but that it was certainly the worst in the last 250 years, since the very beginning of the Industrial Revolution.
  • To find a fitting analogue to the British economic experience of the last decade, you have to reach back to a time before the arrival of any significant growth at all, to a period governed much more by Malthusianism, subsistence-level poverty and a nearly flat economic future. By all accounts, things have gotten worse since their paper was published.
  • there are eight million young Brits in the work force today who have not experienced sustained wage growth at all.
  • The experience of Britain over the same period suggests another fly in the End of History ointment, undermining a separate supposition of that era, which lives on in zombie form in ours: that convergence meant that rich and well-​governed countries would stay that way.
  • focusing on a single “Leave” vote risks confusing that one abrupt outburst of xenophobic populism with what in fact is a long-term story of manufactured decline. As Burn-Murdoch demonstrates in another in his series of data-rich analyses of the British plight, the country’s obvious struggles have a very obvious central cause: austerity
  • in the name of rebalancing budgets, the Tory-led government set about cutting annual public spending, as a proportion of G.D.P., to 39 percent from 46 percent. The cuts were far larger and more consistent than nearly all of Britain’s peer countries managed to enact
  • The consequences have been remarkable: a very different Britain from the one that reached the turn of the millennium as Tony Blair’s “Cool Britannia.” Real wages have actually declined, on average, over the last 15 years, making America’s wage stagnation over the same period seem appealing by comparison.
  • the private sector is also behaving shortsightedly, skimping on long-term investments and extracting profits from financial speculation instead: “To put it bluntly, Britain’s capitalist class has effectively given up on the future.”
  • there has been a slow, sighing decay — one that makes contemporary Britain a revealing case study in the way we talk and think about the fates of nations and the shape of contemporary history.
  • if the political experience of the last decade has taught us anything, it is that whether the world as a whole is richer than it was 50 years ago matters much less to the people on it today than who got those gains, and how they compare with expectations
  • it’s cold comfort to point out to an American despairing over Covid-era life expectancy declines that, in fact, a child born today can still expect to live longer than one born in 1995, for instance, or to tell a Brit worrying over his or her economic prospects that added prosperity is likely to come eventually — at the same level enjoyed by economies in the former Eastern Bloc.
  • Can Britain even stomach such a comparison? The wealthy West has long regarded development as a race that has already and definitively been won, with suspense remaining primarily about how quickly and how fully the rest of the world might catch up
  • Britain has long since formally relinquished its dreams of world domination, but the implied bargain of imperial retreat was something like a tenured chair at the table of global elders. As it turns out, things can fall apart in the metropole too
  • Over two centuries, a tiny island nation made itself an empire and a capitalist fable, essentially inventing economic growth and then, powered by it, swallowing half the world. Over just two decades now, it has remade itself as a cautionary tale.
Javier E

You Cannot Fix the Economy Until You Fix the Pandemic. - 0 views

mailchi.mp/...omy-until-you-fix-the-pandemic

pandemic economy strategy

shared by Javier E on 24 Mar 20 - No Cached
  • Here is the crux of the argument as charitably as I can put it: The economic pain which is here already is real. More is coming. If you lift all of the health restrictions, maybe you get some dead people. But maybe not. And if you don't lift them, you know you're getting massive economic dislocations, for sure.
  • Here is the problem with the argument that it's time to restart the economy: It assumes that all we have to do is flip a switch and then we'll be able to go back in time.
  • We can't. Because we live in a new world. The old reality—and by old, I mean the reality as of December 2019—is gone. The idea of going back to it isn't a plan. It's a fantasy
  • ...13 more annotations...
  • Here is the plain fact: You cannot reconstruct the economy until COVID-19 is under control. Period. Full-stop.
  • There a number of milestones that need to be passed before we can seriously begin rebuilding the economy: (1) We need to have a clear epidemiological picture of the scope of infection and transmission rates. (2) The healthcare system needs to be in a place where it has the resources to manage the demand load. (3) We need to have the capacity to rapidly test (and immediately process) an hugely elastic number of people.
  • Once those tasks have been met, we can start to slowly rebuild. To attempt to "restart" the economy before they have been met will give us the worst of both worlds: An out-of-control pandemic plus a ravaged, non-functional economy.
  • imagine how the economy would function with large numbers of Americans hospitalized; with many others sick; with people afraid for the lives of their loved ones; with some large percentage of children pulled from school; with workers calling out sick for fear of infecting their workplaces; with international travel severely curtailed; with supply chain disruptions across the globe; with demand—especially international demand—decimated.
  • is 500-some deaths worrisome? I mean, sure, in the sense that every life is precious. But that number isn't what's really scary: What's scary is the curve and were that projects out to 8 days, or 16 days, or 32 days from now
  • To believe that you can have a robust—or even functional—economy with a pandemic raging in the background is a fantasy. And it's a dangerous fantasy, because acting on that belief will cause both more death and more economic pain.
  • As of this morning, we have only 46,481 confirmed cases of COVID-19 in the U.S. and 593 deaths
  • the problem is not the number of cases. It's the rate of increase:
  • That puts us as 40,000 new cases per day in eight days' time, with a total addition of somewhere in the neighborhood of 180,000 news cases during that period.
  • Until the new case curve begins to flatten we can't have any sense of what the steady-state looks like.
  • I've been banging on about this for weeks now, but I want to hammer it again: Where we are today doesn't matter.&nbsp;
  • If this is what your case distribution looks like, then you can safely assume that the virus has achieved break-out and is basically everywhere. The places without positive results are most likely just places where tests haven't been available yet.
  • Until you have control over these curves, any attempt to "restart" the economy will fail because the underlying economic problem—a global pandemic which has the United States in its grip
anonymous

U.S. says all options on table for a decision on Afghanistan | Reuters - 0 views

www.reuters.com/...n-on-afghanistan-idUSKBN2AZ0PC

afghanistan usmilitary

shared by anonymous on 08 Mar 21 - No Cached
  • The U.S. government said on Sunday all options remain on the table for its remaining 2,500 troops in Afghanistan, saying it has made no decisions about its military commitment after May 1.
  • U.S. Secretary of State Antony Blinken had made a new urgent push for a United Nations-led peace effort that included a warning that the U.S. military was considering exiting Afghanistan by May 1.Blinken in a letter to Afghan President Ashraf Ghani said the United States is “considering the full withdrawal of forces by May 1st as we consider other options”.
  • the United States has “not made any decisions about our force posture in Afghanistan after May 1. All options remain on the table.”
  • ...2 more annotations...
  • the United States would ask the United Nations to convene foreign ministers and envoys from Russia, China, Pakistan, Iran, India and United States “to discuss a unified approach to supporting peace in Afghanistan.”It added the United States will ask Turkey to host a senior-level meeting of “both sides in the coming weeks to finalize a peace agreement.”
  • Violence in Afghanistan has increased recently as peace talks between the Taliban and the government has made no progress. Both sides have said they were getting ready for a “tough” spring offensive.
Javier E

What stage of capitalism is Sam Bankman-Fried? - 0 views

messaging-custom-newsletters.nytimes.com/...oakv2

capitalism crypto collapse effectiveness

shared by Javier E on 21 Nov 22 - No Cached
  • For Sam Bankman-Fried and his crypto exchange FTX, the simple answer is that a leaked balance sheet leads your biggest rival, himself under federal scrutiny, to instigate a sort of “bank run” you cannot possibly cover, exposing billions of dollars in shortfalls you apparently created by riskily investing money that wasn’t yours.
  • How do you make a multibillion-dollar company disappear in a week?
  • And revealing yourself, in the process, to be a very new kind of financial villain — one who pitches not just the prospect of profit but also deliverance from the corrupt speculative system in which you “made” your “billions.”
  • ...21 more annotations...
  • — what exactly was the meme?
  • Cryptocurrency is little more than a decade old, and yet it has passed through several reputational phases: first, as the lawless province of black marketeers and hard-core libertarians obsessed with escaping government oversight; then as a speculative market in which many of those people made an astonishing and enviable amount of money; then as an investment sector for adventurous normies who might previously have turned to simple day-trading; then as an “asset class” eyed by big-money investors and establishment banks
  • And he had promised to give that magic internet money away just as quickly
  • To investors and legislators, he looked like the potential face of a new era for crypto, poised to legitimize through transparency and regulation what had always been an enormously shady, if often quite lucrative, sector.
  • To progressives, he looked like our kind of oligarch, a sort of boy wonder who seemed capable of conjuring up world-changing billions guiltlessly, effectively out of thin air.
  • it was very tempting to believe, and nobody was trying to look all that closely, it turns out — not the editors who put him on the covers of Forbes and Fortune; not the traders who trusted him with billions in daily trading volume; not the recipients of his philanthropic pledges, many of which will now go unfulfilled; and most conspicuously, not the investors who handed him millions without seeming to even bother checking the books.
  • It was part of his DGAF brand, like the unkempt hair and cargo shorts he wore onstage alongside Bill Clinton and Tony Blair
  • As recently as July 2021, FTX raised $900 million from, among others, Sequoia Capital, Daniel Loeb’s Third Point and SoftBank Vision Fund, which had previously written down billions of dollars in investments in Uber and WeWork. In January, a Series C round raised an additional $400 million.
  • In a now-legendary profile published on the Sequoia website just weeks before the collapse, almost every paragraph contained what should have been a red flag but was presented instead as a mark of Bankman-Fried’s special genius — and Sequoia’s, for endorsing it
  • What stage of capitalism is this?
  • Now the comparisons are less flattering: to Bernie Madoff, of course, and to Elizabeth Holmes of Theranos, even though Bankman-Fried has not been charged with any crimes; also to Adam Neumann of WeWork, Travis Kalanick of Uber and the other iconic start-up hucksters of this strange venture-capital era.
  • those founders were, for all their delusions and sociopathy, pitch-deck visionaries — persuasive proselytizers for not just new products but whole new worlds that could be simply invested into being.
  • In his self-presentation, Bankman-Fried seemed to be pitching something else: an outward indifference approaching disdain. His serious-seeming commitment to effective altruism underlined the impression: If he was earning his billions only to donate them, he represented a very different case study in the morality or moral potential of unregulated markets
  • he flatly described the crypto markets as pointless speculation bordering on fraud — one of the interviewers paraphrased Bankman-Fried’s summary as “I’m in the Ponzi business, and it’s pretty good” — it wasn’t a misstep
  • The death of FTX has been called crypto’s “Lehman moment,” but it was not the first such collapse — it follows the implosions of Celsius, Three Arrows Capital, Terra and Luna, among many others. But it’s fitting that Bankman-Fried will now always be remembered as this crypto crash’s central figure, because he postured as someone who could rewrite not just the rules of the financial system but its morality as well.
  • in the world of big money he was a genuinely new archetype: a smugly superior Gen X slacker and an entitled, world-changing millennial at once
  • it has also been the source of a lot of reflection and debate, about whether it had been at all reasonable to treat what made him distinct as a basis for lionization.
  • He said in the Sequoia profile, for instance, that no book was ever really worth reading, and he told the economist Tyler Cowen in a podcast interview that faced with a coin-flip game in which half the time he’d double the value of the world and half the time he’d destroy it, he’d choose to play again and again
  • he revealed himself to be wasn’t a singular bad actor but a representative one. Blockchain technology may well offer meaningful uses for the wider world in the future, but as of now, it is most significant as the basis for a realm of pure and unregulated speculation.
  • The volatility was not some deep secret only now revealed. It’s an almost inescapable aspect of a financial subculture erected outside the oversight and control of the law on the principle that they weren’t necessary
  • The world’s second-largest crypto exchange has gone belly-up, but the crypto market as a whole is down by only about 20 percent. For many speculators, it seems, collapses like these were already priced in.
fischerry

US Industrial Revolution Inventions for Kids *** - 0 views

www.american-historama.org/rial-revolution-inventions.htm

shared by fischerry on 17 Jan 17 - No Cached
  • US Industrial Revolution Inventions for Kids
johnsonma23

One family, trying to keep food on the table | MSNBC - 0 views

www.msnbc.com/...ying-to-keep-food-on-the-table

food msnbc US obama crisis

shared by johnsonma23 on 16 Jan 15 - No Cached
  • One family, trying to keep food on the table
  • Over the past five years, America has&nbsp;quietly slipped into a hunger crisis.
  • hunger and food insecurity spiked across the country as a result of the financial collapse
  • ...2 more annotations...
  • Congress authorized tens of billions of dollars for food stamps and other nutrition programs to slow the rise of hunger, but not enough to bring it back down to pre-recession levels.
  • 49 million Americans suffered&nbsp;from food insecurity. Food stamp use has risen to historic levels
fischerry

Trump Has 'Duty' to Prepare for War With North Korea's Kim Jong Un, Says British Foreig... - 0 views

www.newsweek.com/north-korea-kim-jong-un-691640

war Crisis

shared by fischerry on 25 Oct 17 - No Cached
  • Britain’s foreign secretary has said that President Donald Trump has “an absolute duty” to prepare for war with North Korea—but urged the rogue state to return to the table for talks.
  • “The crucial question Kim Jong Un surely needs to ask himself is whether his current activities are making Pyongyang any safer for himself and his regime,” Johnson added.
  • Johnson praised the U.S.’s position on talks with North Korea. “It is right that [Secretary of State] Rex Tillerson has specifically opened the door to dialogue,” Johnson said.&nbsp;
  • fischerry on 25 Oct 17
     
    Discussion and coming to the table is very important.
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