The New Economic Team?

As of 11/29. Can you tell a difference? Necessarily incomplete, and preliminary, based upon this article from The Hill. Note that John Cornyn has indicated his objection to Tanden to OMB. All is summed up by Mnuchin to Yellen, Hasset to Rouse, Kudlow to Roger Ferguson or Brian Deese…

The Nuremberg Tribunal: 75 Years Later And Still The Basis For Humanity's Survival

Authored by Matthew Ehret via The Strategic Culture Foundation, “The wrongs which we seek to condemn and punish have been so calculated, so malignant and so devastating, that Civilization cannot tolerate their being ignored because it cannot survive their being repeated. That four great nations, flushed with victory and stung with injury, stay the hand […]

Whole Foods CEO Warns: 'Capitalism Cannot Be Replaced With Disastrous Socialism' 

Global leaders are using the virus pandemic to exert control over the world’s population under the guise of preventing the spread of COVID-19. The pandemic has provided elites with an opportunity to reset the global economy and abandon capitalism for socialism.  In the US, business leaders and politicians are fretting over a socialist system under a Biden […]

Tesla Now Building Third Gen Superchargers In China

In what appears to us to be a continuing push to eventually become a Chinese company, Tesla will soon be producing its third generation electric Superchargers in China, in addition to vehicles it already manufactures there.  The company said it’ll start producing the chargers in 2021, according to Reuters. It plans on investing $6.4 million in […]

What No One Is Saying About The Lockdowns

Via The Corbett Report, If you are advocating for lockdowns, you are complicit in tearing families apart. You are complicit in inflicting untold suffering on millions of people around the world. You are complicit in casting the poorest and most vulnerable in our societies into even further grinding poverty. You are complicit in murder. TRANSCRIPT […]

China's Xi Continues To Urge Troops Toward 'War Readiness' Over Taiwan Issue

China’s President Xi Jinping has continued to tell his armed forces that they should prepare for potential war amid heightened hostilities with America, particularly over the Taiwan issue. Speaking to a room full of People’s Liberation Army (PLA) leaders and officers at the Jingxi Hotel in Beijing this past week, Xi hailed the “new era” of […]

Global Inflation Watch – The Case For Gold As Future Money

Authored by Alasdair Macleod via Goldmoney.com, This article posits that fiat currencies are on the path to hyperinflation and looks at the evidence in the prices of financial assets and commodities. So far, gold has notably underperformed, which indicates that the early signals of hyperinflation are confined to the cryptocurrencies, whose participants broadly understand fiat […]

This Company Wants To Put A Human-Size Hologram Booth In Your Living Room

Authored by Vanessa Bates Ramirez via SingularityHub.com, Over the last several months we’ve gotten very used to communicating via video chat. Zoom, FaceTime, Google Hangouts, and the like have not only replaced most in-person business meetings, they’ve acted as a stand-in for gatherings between friends and reunions between relatives. Just a few short years ago, […]

New appointments?

Mr. Biden will nominate Neera Tanden, the president and chief executive officer of the Center for American Progress, a center-left think tank, to serve as director of the Office of Management and Budget. He will nominate Cecilia Rouse, a Princeton University labor economist, to be chair of the Council of Economic Advisers, these people said. […]

Yes, Testing Works

I’d shout it from the rooftops but my voice has become hoarse. WBUR: In August, more than 100 New England colleges launched a massive experiment: What happens if you bring students back to petri dish campuses in the midst of a pandemic, but put huge energy into prevention culture and testing them once or twice […]

Links 11/29/2020

Danish Mayfly chosen as 2021’s Insect of the Year Euronews Moths draped in stealth acoustic cloak evade bat sonar Chemistry World McKinsey advised Purdue to offer rebates for opioid overdoses Axios Summary of the Amazon Kinesis Event in the Northern Virginia (US-EAST-1) Region AWS #COVID19 Why Is the Risk of Coronavirus Transmission so High Indoors? […]

Toward a short history of Operation Warp Speed

This will go down in history as one of science and medical research’s greatest achievements. Perhaps the most impressive.I put together a preliminary timeline of some key milestones to show how several years of work were compressed into months. pic.twitter.com/BPcaZwDFkl — Eric Topol (@EricTopol) November 28, 2020 Link here, do read the whole thread.  So […]

Voting Rights, Deindustrialization, and Republican Ascendancy in the South

Here is a new paper from Gavin Wright: The Voting Rights Act of 1965 revolutionized politics in the American South. These changes also had economic consequences, generating gains for white as well as Black southerners. Contrary to the widespread belief that the region turned Republican in direct response to the Civil Rights Revolution, expanded voting […]

Fragile And Unsustainable Lies

Authored by Robert Wright via The American Institute, Many times throughout history, policymakers have doubled down on their own mistakes, refusing to believe that they were wrong or hoping that somehow doing the wrong thing twice or thrice would somehow make things right. Then it all came crashing down at once and the rulers lost […]

CCP Imposes Tough New 'Social Credit Score' Rules

China will consider individuals who seriously endanger people’s health and safety, or disrupt markets’ fair competition and normal social order, as threats to society under its new social credit guidelines. State broadcaster CCTV reported that the measures were discussed during a recent meeting of the state council citing a state council meeting led by Premier […]

Inequality And The Gold Standard

Authored by David Howden via The Mises Institute, [First published by Mises Canada, December 2013.] Imagine that you earn $40,000 a year and your boss doubles you at $80,000 a year. Business was good to you both in 2013, and you received a 25% raise for your efforts. Not bad, and your boss gets to […]

Visualizing 50 Years Of Gaming History, By Revenue Stream (1970-2020)

Every year it feels like the gaming industry sees the same stories—record sales, unfathomable market reach, and questions of how much higher the market can go. We’re already far past the point of gaming being the biggest earning media sector, with an estimated $165 billion revenue generated in 2020. But as Visual Capitalist’s Omri Wallach illustrates in the […]

Briefly Noted for 2020-11-28

Mark Price: Adam Looney. Phd from Harvard. Undergrad at Dartmouth https://twitter.com/price_laborecon/status/1332651699450810371. Oh boy, can you smell trouble. If you can’t you may want to get tested for COVID-19. He served among other places in Obama’s Treasury. He has an op-ed from a little over a week ago which I’m not going to share again where […]

2021 Would Be A Great Time To Audit The Fed

Authored by Nick Hankoff via The Mises Institute, Gone are the days of the Federal Reserve hiding in the shadows. Now it’s a woke central bank fighting for climate and racial justice. Progressives must not fall for this but instead team up with the populist right to audit the Fed and demand transparency. Let the […]

The Strangely Unscientific Masking Of America

Authored by Jenin Younes via The American Institute for Economic Research, I remember vividly the day, at the tail end of March, when facemasks suddenly became synonymous with morality: either one cared about the lives of others and donned a mask, or one was selfish and refused to do so. The shift occurred virtually overnight.  Only […]

November 28 COVID-19 Test Results; Record Hospitalizations

Note: The data will be unusual over the holiday weekend. Stay Safe!!! The US is now averaging over 1 million tests per day. Based on the experience of other countries, for adequate test-and-trace (and isolation) to reduce infections, the percent positive needs to be well under 5% (probably close to 1%), so the US still […]

Amazing Amazon

NYTimes: Amazon added 427,300 employees between January and October, pushing its work force to more than 1.2 million people globally, up more than 50 percent from a year ago. Its number of workers now approaches the entire population of Dallas. …The scale of hiring is even larger than it may seem because the numbers do […]

Covid Profits of Pharmaceutical Monopolies vs Peoples’ Lives

Yves here. Oddly, or perhaps not, there’s been pretty much no coverage in the Western business press of the Médicines Sans Frontières proposal before the WTO, supported by 99 member states, to waive intellectual property protections for Covid-19 related medications, tests, and equipment. Produced by Lynn Fries at GPEnewsdocs The governments of India and South-Africa backed […]

Misaligned incentives for incarceration in the United States

The incarceration rate has increased substantially in the United States between the 1980s and the 2000s. In this paper, I explore an institutional explanation for this growth: the fact that costs of incarceration are not fully internalized. Typically, prison is paid for at the state level, but county employees (such as judges, prosecutors or probation […]

Why we should be optimistic about various vaccines

I’ve been a long-time reader of your blog, and I have enjoyed your analyses of how the pandemic could play out in the US. I saw that you gave some space to Arnold Kling’s pessimistic take on the vaccines. I’m a volunteer in the J&J Phase 3 vaccine trial, and my experience of the trial design […]

Succinct Summation of Week’s Events for 11.27.20

Succinct Summations for the week ending November 27th, 2020 Positives: 1. POTUS belatedly admits loss, allows GSA to begin transition.2. Home mortgage apps rose 4.0% for the second straight week.3. FHFA House Price Index rose 1.7% m/o/m, above the expected increase of 0.9%.4. Chicago Fed National Activity Index came in at 0.83 for October, above […]

There's No Reopening Plan For Closed NYC Schools, de Blasio Says

Authored GQ Pan via The Epoch Times, New York City Mayor Bill de Blasio on Wednesday said that he is taking sole responsibility for closing the city’s public schools without a reopening plan in place. “Honestly, I have to hold myself responsible,” de Blasio said during a press conference when asked why there wasn’t a school reopening plan in […]

House Down Payments Soar To 20 Year High As Banks Crack Down On New Loans

American homebuyers have to pony up even greater amounts of money for a down payment due to tightening credit standards and skyrocketing home prices.  According to Bloomberg, citing a new report from Attom Data Solutions, the median down payment for a single-family home is $20,775 for the third quarter, the most in at least two decades […]

Portland Rioters Cause Thousands Of Dollars In Damage On Thanksgiving Night

Authored by Zachary Stieber via The Epoch Times, Rioters in Oregon’s largest city on Thanksgiving caused thousands of dollars in damage, authorities said. A group of people dressed in black clothing were witnessed smashing windows along Hawthorne Street in the early hours of Nov. 26, according to the Portland Police Bureau. Officers canvassed the area and found that […]

Watch: Viral Video Of Water On Fire Reveals A Natural Gas Leak In China

Authored by Michael Kern via OilPrice.com, Residents in a natural gas-producing northeastern Chinese province have made a video of tap water being set on fire with a lighter – a video that went viral – prompting an investigation by local authorities and a shutdown of the water supply to part of a city because natural gas had […]

Buying Bonanza Culminates With Record Inflows Into Global Stocks

As Doug Kass writes this morning, “the market is overbought and statistically overvalued after experiencing the third best month (in November), in percentage terms, in history.” He correctly notes that speculation is now running amok (EV, SPACs, etc.) and sentiment is at an extreme – whether seen by the CNN Fear and Greed Index sentiment […]

Rabo: For Traditional Retailers The Outlook Is Indeed Black

By Michael Every of Rabobank None More Black Ian: Here it is, lads! “Smell The Glove”…gather round….Where’s David?… David, David, get up here! Derek: David, “Smell The Glove” is here. Ian: The moment we’ve all been waiting for…Here we go, plenty for everybody…here you are. David: I never thought I’d see…I never thought I’d live […]

SCOTUS, houses of worship, and the pandemic

The Supreme Court has sided with religious institutions (NYT) against some of the pandemic restrictions of state and local governments: The opinion said the state had treated secular businesses more favorably than houses of worship. “The list of ‘essential’ businesses includes things such as acupuncture facilities, camp grounds, garages, as well as many whose services […]

Groups Trying to Open Golf to Young People Are Struggling Themselves

Golf has been having a boom year since courses that were closed in the pandemic reopened in June. Even with the hiatus, rounds of golf played this year are now nearly 11 percent ahead of last year’s pace, according to the National Golf Foundation. In October, typically the end of the golf season in many […]

10 Black Friday AM Reads

My end of week morning train WFH reads: • Beat Black Friday Traps with Six Expert Behavioural Money Tips Shoppers will spend billions during the Black Friday and Cyber Monday sales. Retailers use a host of tricks to encourage you to buy what might not be the best deal. These behavioral nudges risk costing you […]