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Home Economy

2:00PM Water Cooler 9/15/2022 | bare capitalism

by Lambert Strether
September 15, 2022
in Economy
Reading Time: 15 mins read
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2:00PM Water Cooler 9/15/2022 | bare capitalism
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Pink-throated Loon, Norðurland eystra, Iceland. A lot of birds, most very excited. I believe geese and gulls, in addition to the loons?

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

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

As common on monopolies, Stoller nails it:

9. This is not a ‘massive corporations foyer so much’ corruption story. It is about companies who, due to their management of key infrastructure, are *rivals to democratic authorities.* Amazon is not simply lobbying Canada, it’s overtly saying Canadians are *not allowed to control themselves.*

— Matt Stoller (@matthewstoller) September 15, 2022

And:

9. This is not a ‘massive corporations foyer so much’ corruption story. It is about companies who, due to their management of key infrastructure, are *rivals to democratic authorities.* Amazon is not simply lobbying Canada, it’s overtly saying Canadians are *not allowed to control themselves.*

— Matt Stoller (@matthewstoller) September 15, 2022

“Home members roll out bipartisan election invoice aimed toward stopping future coups” [The Hill]. “Each payments are aimed toward stopping future coup makes an attempt by clarifying the restricted function of the vice chairman in counting Electoral School votes, elevating the brink for members of Congress to object to states’ presidential electors, beefing up legal guidelines round certifying elections for the rightful winner and selling an orderly presidential transition.” • There’s one thing slightly odd about outlawing a coup…..

“Posse Comitatus, Made Respectable” [John Ganz]. “I’ve come to 2 robust, however I really feel unavoidable, conclusions in regards to the Claremont Institute, the California-based right-wing assume tank that provides Trumpism with its mental cadre: One, that they’re making an attempt the creation of a distinctly American type of fascism that studiously avoids references to European forebears, and two, they’ve grow to be primarily a seditious conspiracy in opposition to the American folks. I don’t use this rhetoric calmly; I understand it could possibly sound a bit excessive, even fevered and crankish, however all the things else reads like hedging or euphemism. Claremont has performed an instigating and integral half in all the most authoritarian and menacing parts of the Trump period: from the wild proposals to finish birthright citizenship and abrogate the 14th Modification, to the creation and dissemination of “Cease the Steal Propaganda,” to persistent outreach and legitimation of the extreme-right fringe, after which to offering the spurious authorized structure of the January 6 putsch try. However one of many Institute’s most regarding initiatives but is their “Sheriff’s Fellowship,” a direct effort to bind regulation enforcement to their ideological program. Based in 2021, the Sheriff’s Fellowship goal is described in fairly partisan however nonetheless largely benign-sounding language on the Institute’s web site as a high-minded course in political idea and historical past for the native police.” • What may go fallacious…

blockquote>

#COVID19

• Maskstravaganza: Life’s little ironies:

Precisely. I’ve continuously marveled on the “prepper” pandemic response. People spent tons of of hundreds of {dollars} getting ready for catastrophe & collapse, however they received’t put on a masks to forestall an infection by a novel mind shrinking, organ destroying, society-collapsing bat virus.

— Laura Miers (@LauraMiers) September 14, 2022

That is humorous. However, readers, is it true?

• Maskstravaganza: “Invoice Hader Masks Up At Emmys And Followers Can’t Cowl Up Their Approval” [HuffPo]. The deck: “‘We stan a secure king resisting peer strain within the 12 months 2022!’ one individual tweeted in regards to the “Barry” star.” • True, Hader is immuno-compromised. However I dare to hope some pushback from pro-maskers is having an impact.

• Maskstravaganza: “Experimental Evaluation of Carbon Dioxide Content material in Inhaled Air With or With out Face Masks in Wholesome Kids” [JAMA]. • RETRACTED (if you happen to see anybody quoting it).

* * *

• A really fascinating FOIA, albeit from Canada:

5/ Now, upon getting learn the background, right here is my correspondence with the VSB,

Electronic mail 1: From me to VSB Trustees Jan 30, 2022 pic.twitter.com/uAR9kb45fM

— Tracy Casavant Oh, BASc (Chml), MES (@OhCasavant) September 14, 2022

I imagine we now have alert reader antidlc is engaged in an identical effort; maybe this can assist.

* * *

“A Disturbing Preprint About Lengthy COVID” [Mike the Mad Biologist]. “Even when we assume that many of the noticed impact is both misreporting, ascertainment bias or background noise–and relating to the latter, do we actually assume fifteen % of 25-34 12 months previous adults undergo from lengthy COVID like signs for another motive?–it nonetheless would imply one to 2 % of individuals undergo from fatigue, issue concentrating, or shortness of breath.” • Hmm.

* * *

In case you missed it, right here’s a publish on my queasiness with CDC numbers, particularly case depend, which I (nonetheless) think about most essential, regardless of what Walensky’s psychos at CDC who invented “neighborhood ranges” assume. However these are the numbers we now have.

* * *

Case Rely

Lambert right here: I assume when Johns Hopkins takes these numbers away, I’m going to must rethink this part.

Case depend for america:

Circumstances are undercounted, one supply saying by an element of six, Gottlieb considering we solely decide up one in seven or eight.) Therefore, I take the nominal case depend and multiply it by six to approximate the true degree of circumstances, and draw the DNC-blue “Biden Line” at that time. The earlier depend was ~73,400. In the present day, it’s ~70,000 and 70,000 * 6 = a Biden line at 420,000. (Bear in mind these knowledge factors are weekly averages, so day by day fluctuations are smoothed out.) The black “Fauci Line” is a counter to triumphalism, because it compares present ranges to previous crises. In case you take a look at the Fauci line, you will notice that regardless of the bleating and yammering about Covid being “over,” we now have solely only recently reached the (nominal) case degree of November 1, 2021, and we’re very removed from that of July 1, 2021. And the true degree is way worse.

Lambert right here: The autumn in case depend seems spectacular sufficient. What the Fauci Line reveals, nevertheless, is that we now have ultimately achieved the extent of the preliminary peak, when New York was storing the our bodies in fridge vehicles. So the endzone celebrations are, to my thoughts, untimely. Not that anybody will throw a flag. In fact, the true story is within the charts for California and the South. See under.

Regional case depend for 4 weeks:

The South:

The South (minus Texas and Florida):

South Carolina appears to have halted processing till they will work out what’s happening.

The West:

Wastewater

SITE DOWN Wastewater knowledge (CDC), September 10:

For grins, September 9:

Lambert right here: If the location doens’t load in 5 minutes, it’s not good for something, is it?

Positivity

From the Walgreen’s check positivity tracker, September 9:

2.8%. Needs to be a number one indicator, if Walgreen’s clients are an satisfactory nationwide proxy. Attention-grabbing who’s not (particularly the grain belt) and who’s not.

Transmission

NOTE: I shall most definitely not be utilizing the CDC’s new “Neighborhood Degree” metric. As a result of CDC has mixed a number one indicator (circumstances) with a lagging one (hospitalization) their new metric is a poor warning signal of a surge, and a poor technique to assess private danger. As well as, Covid is a illness you don’t wish to get. Even in case you are not hospitalized, you may undergo from Lengthy Covid, vascular points, and neurological points. For these causes, case counts — identified to be underestimated, on account of residence check kits — deserve to face alone as a quantity to be tracked, regardless of how a lot the political operatives in CDC management want to obfuscate it. That the “inexperienced map” (which Topol calls a “capitulation” and a “deception”) remains to be up and being taken severely verges on the prison. Use the neighborhood transmission instantly under.

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

NOT UPDATED Fast Riser knowledge, by county (CDC), September 9:

I suppose that if case counts are certainly degree, it’s possible there can be few speedy risers.

Earlier Fast Riser knowledge:

NOT UPDATED Hospitalization knowledge, by state (CDC), September 14:

Sea of inexperienced!

NOTE: Fast Riser and Hospitalization knowledge are up to date Wednesdays and Fridays.

Variants

Lambert right here: It’s past irritating how sluggish the variant knowledge is. I regarded for extra charts: California doesn’t to a BA.4/BA.5 breakdown. New York does however it, too, is on a molasses-like two-week cycle. Does no person within the public well being institution get a promotion for monitoring variants? Are there no grants? Is there a single lab that does this work, and all people will get the outcomes from them? Extra sources from readers welcome [grinds teeth, bangs head on desk].

Variant knowledge, nationwide (Walgreens), September 1:

Nonetheless no signal of BA.2.75 at Walgreens, regardless of its success in India and presence in Bay Space wastewater.

NOT UPDATED Variant knowledge, nationwide (CDC), August 20 (Nowcast off):

Nonetheless no signal of BA.2.75. I checked out all of the areas, too.

BA.2.75 in Ontario and Quebec, Canada:

Quebec:

Just like Ontario, however BA.2.75* appears to be already near 2% in most up-to-date weeks. To be seen the place that is going, however it appears to be the variant most are involved about for the approaching weeks. pic.twitter.com/mAc9nN2Dt4

— Diego Bassani, PhD (@DGBassani) September 10, 2022

Deaths

Dying charge (Our World in Information):

Lambert right here: It’s fascinating that the deaths per 100,000 curve — with its curious latest flattening — has roughly the identical form because the case curve, suggesting {that a} “Biden Curve” would have roughly the identical form because the case depend curve, versus the straight line I’m drawing for the present degree.

Whole: 1,077,477 – 1,076,343 = 1134 (1134 * 365 = 413,910, which is in the present day’s LivingWith™* quantity (fairly a bit larger than the minimizers would really like, thought they will discuss themselves into something. Fluctuates fairly a bit, however even the low numbers are dangerous). I’ve added an anti-triumphalist black Fauci Line.

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

Stats Watch

Employment State of affairs: “United States Preliminary Jobless Claims” [Trading Economics]. “The variety of People submitting new claims for unemployment advantages decreased by 5 thousand to 213,000 within the week that ended September tenth, properly under market expectations of 226,000. It was the bottom variety of weekly jobless claims because the last week of Could, highlighting a decent labor market and giving the Fed extra space for aggressive rate of interest hikes.”

Manufacturing: “United States Philadelphia Fed Manufacturing Index” [Trading Economics]. “The Philadelphia Fed Manufacturing Index within the US fell to -9.9 in September of 2022 from 6.2 in August, lacking market expectations of two.8. The indicator for present exercise returned to adverse territory, the brand new orders index remained adverse, and the shipments index additionally declined however remained optimistic.”

Manufacturing: “United States NY Empire State Manufacturing Index” [Trading Economics]. “The New York Empire State Manufacturing Index climbed 30 factors to -1.5 in August 2022, beating market expectations of -13. New orders elevated, and shipments expanded considerably. Supply instances have been regular whereas inventories picked up. Labor market indicators pointed to a modest enhance in employment and no change within the common workweek.”

Manufacturing: “United States Industrial Manufacturing” [Trading Economics]. “Industrial Manufacturing in america elevated 3.70 % year-on-year in August of 2022. It’s the smallest annual enhance in seven months.”

* * *

The Bezzle:

It is hilarious to see all these main corporations releasing NFT tasks that have been presumably green-lit throughout the web3 growth 9 months in the past however at the moment are already lifeless within the water. https://t.co/S6jGQpS4b6

— Arieh Kovler (@ariehkovler) September 12, 2022

Yeah, the place are the web3 bros? It’s gone quiet all of the sudden.

The Bezzle: “‘Scary simple. Sketchy as hell.’: How startups are pushing Adderall on TikTok” [Vox]. • Ugh, however laborious to get enthusiastic about TikTok after what Large Pharma and the varsity programs have alread accomplished.

Tech: “Google’s ‘Relaxation and Vest’ Days for Senior Workers Are Over, Says the CEO. It’s a Good Concept” [Inc.]. “With looming recessions and inflationary pressures, there’s rising concern of slower progress and fiercer competitors. On the convention, Pichai talked about TikTok and different entrants within the Chinese language market. Issues that they didn’t have to consider two years in the past are all of the sudden turning into actual points for the massive weapons. There might be various options put in place to search out efficiencies and climate this financial downtown. One of many approaches simply could also be a concerted effort in uncovering the resters-and-vesters and calling them out. Or eliminating them altogether.” • In case you assume Google sucks now, simply wait ’til the coders don’t get free lunches and massages any extra.

The Bezzle:

A use case https://t.co/1qd4GjcfIL

— Sean Tuffy (@SMTuffy) September 14, 2022

And one other:

Money circulation https://t.co/3AYhC5IOMS

— Bucco Capital (@buccocapital) September 14, 2022

My reply would have been: “Sufficient suckers.”

* * *

In the present day’s Worry & Greed Index: 42 Worry (earlier shut: 41 Impartial) [CNN]. One week in the past: 41 (Worry). (0 is Excessive Worry; 100 is Excessive Greed). Final up to date Sep 15 at 1:37 PM EDT.

Bible Nook

“Archaeologists Uncover Pink Pens Gospel Writers Used To Write Phrases Of Christ” [Babylon Bee]. “‘Bible students have been trying to find this for hundreds of years,’ stated head archaeologist Dr. Max Macon. ‘We knew that if the New Testomony document is reliable, then the purple pens the gospel writers used to jot down the phrases of Christ needed to be round right here someplace. And now we as soon as once more have the Bible’s account confirmed to be 100% dependable.’”

The 420

“How Weed Grew to become the New OxyContin” [The Tablet]. “Within the period of legalized weed, the drug you consider as ‘hashish’ can hardly be referred to as marijuana in any respect. The sorts of hashish merchandise which can be bought on-line and at dispensaries include no precise plant matter. They’re made by placing pulverized marijuana right into a tube and operating butane, propane, ethanol, or carbon dioxide by way of it, which separates the THC from the remainder of the plant. The top product is a wax that may be 70% to 80% THC. That wax can then be put in a vacuum oven and additional concentrated into oils which can be as a lot as 95% and even 99% THC. Often known as ‘dabs,’ that is what folks put of their vape pens, and in states like California and Colorado it’s completely authorized and simply accessible to youngsters. ‘There are not any caps on efficiency,’ stated Stack. In case you’re over 30 years previous and also you used to smoke weed whenever you have been a young person, the strongest you have been smoking was in all probability 20% THC. In the present day, youngsters are ‘dabbing’ a product that’s three, 4, or 5 instances stronger, and are sometimes doing so a number of instances a day. At that degree of efficiency, the affect of the drug on a consumer’s mind belongs to a wholly completely different class of danger than smoking a joint or taking a bong rip of even an intensively bred marijuana flower. It’s extremely addictive, and over time, there’s a big probability it could possibly drive you insane.” • I’m not seeing any hyperlinks in that final sentence, and the entire thing reads like “Reefer Insanity” over again:

That stated, it was predictable that corporatizing hashish — definitely not the imaginative and prescient I had of “legalization,” again within the day — would carry unwell results. OxyContin degree results? I’d must see extra proof. Readers, has anybody… heard in regards to the results of the brand new “merchandise”?

Our Famously Free Press

Hmm:

You imply the brand new Ariel has purple *locs, @remytumin, not “locks.” Locks simply means hair of any type, not the coiffure. Thanks for enjoying pic.twitter.com/nVdLUXyf0A

— Typos of the New York Occasions (@nyttypos) September 14, 2022

The Gallery

The restrict case of a queue:

Nocturne in Gray and Gold: Chelsea Snow, 1876 #whistler #americanart https://t.co/zvYKH4wEvG pic.twitter.com/dqDNdOmUmT

— James Whistler (@artist_whistler) September 15, 2022

Class Warfare

“Financial reflections on the Fall of Constantinople” [globalinequality]. “The studying of Jap Mediterranean historical past is extraordinarily instructive for a manner during which we should always consider commerce. A benevolent strategy, beginning with Ricardo, all the time regarded commerce as an exercise freely undertaken by two events with no extra-economic compulsion. No reader of historical past of the Jap Roman Empire can share that view. Commerce and army underpinning of it went hand-in-hand. That is at its most evident not in massive empires which anyway needed to have armies however in buying and selling city-states like Venice and Genoa. In case you imagine that commerce is all about peace there can be no motive why these city-states needed to keep massive naval fleets, battle battles, conquer islands, negotiate, below army risk, particular rights to tariff-free imports and exports. Commerce, debt and the military all the time moved collectively. No vacationer to any Greek island in the present day will fail to look at massive Venetian and Genoan fortresses that might not have been constructed with out cash and labor but in addition and not using a naval presence that allowed the management or conquest of the islands within the first place.”

Information of the Wired

“The right way to nurture a private library” [Psyche]. “Many people develop our collections on a book-by-book foundation: a quantity catches our curiosity in a bookstore, we purchase and skim it, stick it on a shelf, and repeat. Pondering like a librarian is about taking a step again to contemplate your assortment as a complete, together with what you add to it and why. A well-tended library is sort of a panorama, with its valley of crime novels, its peaks of reference texts, its shores of memoirs. Collectively, all these particular person titles grow to be a part of one thing better, type one thing with emergent properties, one thing completely distinctive to you.”

* * *

Contact info for crops: Readers, be at liberty to contact me at lambert [UNDERSCORE] strether [DOT] corrente [AT] yahoo [DOT] com, to (a) learn how to ship me a verify in case you are allergic to PayPal and (b) to learn how to ship me pictures of crops. Greens are effective! Fungi and coral are deemed to be honorary crops! If you need your deal with to look as a credit score, please place it initially of your mail in parentheses: (thus). In any other case, I’ll anonymize by utilizing your initials. See the earlier Water Cooler (with plant) right here. From TH:

TH writes: “This doesn’t appear like fairly just like the Hen of Paradise I see throughout California, together with in my yard, however that’s the title I’m going with. It’s within the greenhouse on the Sherman Library and Gardens in Newport Seashore, California.”

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