BC ECONOMY
Saved by @jay_millerjay

I’m beginning to think that the left has been too obsessed with GDP as a broken economic metric governing the global shitshow, when inflation is more insidious. Deflation may be a more radical demand than degrowth. Burst bubbles. Deflate the price of fossil fuel infrastructure.

 It’s amazing just how much political economy is still determined by the threat of stagflation. This has created a weird metonymy in which as long as you’re fight inflation (preserving the interests of (older) savers) you’re also fighting stagnation (supporting (younger) earners).
To some extent the residual fear of deflationary spirals lies behind this, waiting in the wings for any suggestion that stagnation must be fought with deflation. This is entirely understandable, as uncontrolled deflation hits the poorest hardest.
The assumption that conjoins these fears into an engine of unbridled economic stagnation is that there’s a unitary market effectively mediating between the markets in different sectors, be this unity micro-economic or macro-economic in flavour. But this just isn’t how it works.
There is so much more logistic friction in the price system than the popular story of just in time production suggests, not least in the concrete details of differentiated trade between economic actors from local businesses to nation states.
The conditions that enable relative stability of prices between sectors are *extremely* political, and far more complicated than Hayek’s vision of the price system suggests. These conditions constitute the parameters of the tacit social contract underpinning liberal democracies.
Outside of niche markets in consumer goods, prices are incredibly sticky, and the reason they’re sticky is that the stability of power depends on their stickiness. Libertarians are fond of this as a critique of state intervention, but you don’t need a state to exert power.
The price system is not just smooth supply-demand negotiation, but power broking between finance, industrial cartels, and other interest groups, only partially mediated by states and state blocks. Anti-trust is a joke. The market is built from bonds of anti-competitive trust.
It’s not so much that prices are sticky as that purchasing power is sticky, the more you’ve got the easier it is to maintain it and the less you’ve got the harder it is to grow. It’s shifts in concrete industrial relations between sectors that have the potential to destroy power.
This is where the real lie of ‘disruptive’ investment comes to the fore. Such innovations are far likelier to disrupt labour power than anything else in an era where the institutions articulating this power are degraded or tame.
Moreover, the consolidation of purchasing power synergises with broken investment systems that divert resources away from genuinely disruptive technologies and into safe competition over consumer goods. Jet packs conflict with high street based business models
This isn’t to say that change doesn’t happen, just that its effects are felt in ways peculiar to the pace at which they take place. Micro-economically we’re good at relative value estimation in the short term (local), but bad at absolute value in the long term (global).
Consumers are boiled like frogs by slow but steady differential price inflation, and captains of industry push each other off cliffs like lemmings unable to see the industrial future rising up to greet them. New titans rise slow enough for common sense to mask it until too late.
Everyone is complicit in changing the industrial base as little as possible to preserve the current set of scams encoded in the relative purchasing power within and between political blocks, geographic and otherwise. The main risks taken are the precisely the wrong ones.
The grand cognitive potential of humanity and its technological prostheses is harnessed by the stubborn incompetence of the global market system and turned to tasks that waste it in egregiously efficient, rather than gloriously excessive ways.
It might just be time to reconfigure and reroute this potential around the complex knots of power and ignorance still holding together the last liberal compromise in political economy. To trade slow burn immoderation for destructive creation. There’s destruction aplenty already.
So I say to my fellow millennials, and the zoomers who are often confused for us, reach for your avocados and your smartphones: our work is not yet done. we’ve whole industries to destroy. 🖖
P.S. The fact my smartphone predictive text corrects ‘immiseration’ to ‘immoderation’ is the most bleakly poetic representative fact I’ve seen in quite some time.

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pete wolfendale
pete wolfendale
@deontologistics
So, here’s a way of reframing this question: which societies enabled coexistence and collaboration between people with divergent social styles, rather than imposing a dominant social style? Such social pluralism is very important indeed.


I suspect that the vast majority of the answers to the original question will fall foul of the tendency to project ideal social arrangements that reflect our own style of social understanding and engagement, and that this will lead them to talk past one another.

Consider the perspective of someone far away from you on in the neurological map, who doesn’t overlap with your socially calibrated genetic resources for social intelligence: the social heaven of an autist introvert may be the social hell of a bipolar extrovert, and vice versa.

I’ve had many good conversations about this with people in different parts of the map who overlap with me in different ways (h/t @tjohnlinward, @dynamic_proxy, @maradydd, @mojozozoe, @UnclePhobic) whose personal heavens I would like to visit, but maybe not live in full time.

We get to see glimpses of these heavens not merely in the past, but in the present, and abstract their geometries, both in spatial/architectural terms (https://t.co/aTcRgtJOVJ) and in temporal/dynamic terms (). The physical/computational platforms around us configure our agency.
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pete wolfendale
pete wolfendale
@deontologistics
I think one way of looking at the economic pathologies of our society, without using words like 'capitalism' and 'rentiership', is to talk about inequities in the distribution of risk. Some have more taste for risk than others, sure, but risk is not distributed on this basis.

In the UK, so much of our political troubles come from the growth in the landlord class, who if nothing else, wield disproportionate power relative to their social worth: at one and the same time claim to be martyrs to the risk of investment, and demand these risks be minimised.

Of course, it's possible to make claims like this: e.g., nurses have every right to claim that they shoulder not merely more risk than most, but far more risk than is strictly necessary. The pandemic has made this brutally obvious to anyone who has been paying attention.

However one chooses to tally up compensation for this social role, be it financial, social, or some other privilege, it's pretty obvious that every last 'essential worker' is shouldering more societal risk than most non-essential workers compensated far better than they.

The way this trade off gets (implicitly) articulated as 'pay vs. purpose' is one of the enduring insights of @davidgraeber's Bullshit Jobs. Yet there are many essential workers who don't even get the illusion of purpose in compensation for personal risk (e.g., warehouse staff).
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pete wolfendale
pete wolfendale
@deontologistics
My morning thought. I think what's most incompatible about the way I think and the journal article format as a means of capturing and validating thought is that I have a completely different sense of the relation between tentativeness, rigor, and informatic compression.

The characteristic Pete thought is: wait a minute, this whole area is dominated by an assumption that no one seems to be questioning, and I've got two options to express that: i) outline the logic of the issue in a quick and compressed way, ii) write a small book with references.

The discipline seems to want something in between these poles every single time, and this makes me extremely anxious because I feel (with good reason) like any partially referential engagement with the issue will get instantly torpedoed by anyone outside its referential remit.

To repeat something I've said before: I'm actually quite good at being *concise*, I just find it very hard to be *brief*, because most of the thoughts I have don't permit brevity. Consider what your (referential) reactions are to this brief piece:

One of the main genres of publication I've actually excelled in over the years is dictionary articles, which I take a lot of joy in writing, and include some of the pieces of which I'm most proud. Consider this one on the crux of Meillassoux's project:
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pete wolfendale
pete wolfendale
@deontologistics
This is what happens when you train neural networks largely on tone and its stylistic relics. They pick up formal features of arguments (not so much fallacies as tics) that have almost nothing to do with semantic content (focus on connotation over implication).


This is a secular problem in the discipline. It's got nothing to do with the Analytic/Continental split in the anglophone world. They've both got the same ramifying signal/noise problem, it's just that the styles (tics and connotations) are different in each pedagogical context.

And this is before we start talking about tone policing and topic policing, which are both rife and essentially make the peer review journal system completely unfit for purpose, populated as it is by a random sampling of pedants selecting for syntactic noise over semantic signal.

We've allowed a system of self-reinforcing and ratcheting filters to evolve that effectively *fuzzes* our contribution to the growth of human knowledge (https://t.co/VmW15pGt7J), because it selects for properties only loosely related to those we claim to want. Let that sink in.

This is literally the opposite of what a filter is supposed to do: extract signal from noise, syntactic compression that preserves semantic content. Instead we are awash in syntactic artifacts optimised for minimal criticisable content and maximal pedantic posturing.
FOR LATER READ
pete wolfendale
pete wolfendale
@deontologistics
@paulkreinerhere @schulzb589 I accept that I haven't given a proof of this impossibility, but I believe the concerns I've laid out could probably be formalised in a way that would lead to one, though it'd involve something like a combinatoric diagonalisation similar to Russell's paradox.

@schulzb589 To state my issue in a more philosophical way, I think the desire to combinatorially totalise mathematical syntax is an effect of something like a transcendental illusion, what I sometimes call the Mythos of Logos.

@schulzb589 It's the Leibnizian desire to obviate creative dialogical interaction (dialectical reason) by providing a deductive system (monological reason) that would allow us to simply 'shut up and calculate'; the desire to obviate the pragmatic autonomy of discovery by automating it.

@schulzb589 It doesn't matter how many times this desire is betrayed by its own formal tools: Russell, Godel, Turing, Chaitin, etc.; it doesn't matter that these betrayals are what drive the externalisation of thought by producing new tools to automate computation. It always comes back.

@schulzb589 The desire to brute force reality, be it mathematical or empirical, is always lying in wait, whispering seemingly 'reasonable' lies about what is and isn't rationally possible. This is as close as I come to endorsing Heidegger and Adorno's worries about technoscience.
FOR LATER READ

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🚨🚨🚨 ANNOUNCEMENT 🚨🚨🚨

@AyannaPressley Unveils Historic Federal Job Guarantee

The resolution draws on historical Civil Rights leaders like Coretta Scott King & economists like Sadie Alexander, & is supported by a wide coalition including @policylink, @NatlJobsForAll, @thepublicmoney, @SEIU, @sunrisemvmt, @CPDAction, @ACREcampaigns, @ourmoneyus, @NelpNews

“It’s time to establish a legal right to a job for all people in America. For years, we have legislated hate, harm & injustice ... It’s long past time to pursue bold, intentional policies that affirm equity & recognize the dignity & humanity of all people.”

"A federal job guarantee is an important investment in the American people, our communities, & an equitable economy that works for all. It affirms the right to meaningful, dignified work & a living wage."

"I’m proud to build upon & honor the legacy & work of generations of Black women Civil Rights leaders by introducing this historic resolution.”
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Dollar Cost Average
Dollar Cost Average
@DollarCostAvg
Thread: Introducing $JAX.v $JXMNF Jaxon Mining, who’s 100% owned 466 square km Hazelton property in the Skeena Arch will prove that this mineral-rich region rivals that of the Golden Triangle. Recent chip samples in multiple surface grabs show grades of up to 5300 g/t Ag


Amongst other achievements and experience, CEO John King Burns was the former founder and chairman of Northern Orion, which was then acquired by Yamana in a $1 billion transaction, so he knows how to hold on when you have something good. Was also former chairman of Dolly Varden

The Hazelton property hosts 4 main areas of interest: Netalzul (where most of the high grade silver has been recently identified), Red Springs, Blunt Mountain, and Max. Drilling had been originally planned for Red Springs, but I believe efforts have been diverted to Netalzul


Property is close proximity to all facilities and services: highway, railway, power, and mining services.


This is the first systematic exploration of the highly mineralized property. Sporadic historical artisanal workings from the early 1900’s are scattered around the property. There’s silver where there was silver, and in these cases, only the surface has been scratched (literally)
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tadzio_mueller
tadzio_mueller
@MuellerTadzio
Until 2050 we'll likely see "a #supercycle in investments in 'clean' energy infrastructure, 'clean' transportation & everything that's required for the '#green' transition."

There's so much bullshit in here, I'll unpack some of it in a

2/x

1st (cf. @MGSchmelzer): there is no reason to assume that a massive productivity- & hence production-boom will lead to reduced emissions, because it will increase production&growth, & it is those two variables that global greenhouse emissions track most closely. #Degrowth.

3/x

Every time capitalism has made massive productivity gains (e.g. w/ the #steamengine; the taylorist #assemblyline; computers), that has led to a *radicalisation* of capitalism as a mass production system (as opposed to earlier versions, where luxury goods were for elites),...

4/x

So there's no reason believe that a new round of capitalist accumulation (#accumulationbydispossession / #primitiveaccumulation) - in this case: some kind of "#greencapitalism - will in any way positively impact emissions rates, but every reason to believe the opposite...

5/x

I would like to look into this, as it speaks to an often-overlooked issue: the relationship between different phases of capitalist development, such as imperialism, fordism, & post-fordism, connected to energy regimes (coal-based, oil-based, renewables-based capitalism)?
ECONOMY
Sean Casten
Sean Casten
@SeanCasten
Expect to see a lot more stories like this. But let's also use this to have a more sophisticated conversation about why the rising tide of cheaper, cleaner energy - like all prior energy transitions - doesn't necessarily lift all boats. Brief thread:

1/ First to state the obvious: the domestic fossil fuel industry in the US wouldn't exist without massive subsidies. $650B/year according to the IMF.

2/ That in turn means that the transition to cleaner, cheaper energy is delayed by those market distortions. Taking away the subsidies is smart economic and environmental policy. It is FANTASTIC that @POTUS is doing so.

3/ But it is paternalistic and naive to assume that workers in those displaced industries will have an easy transition. Knowing how to run an oil rig is a highly specialized, highly skilled job. Gaining that skill set takes time and is geographically specific

4/ The fact that there will be economic gains in other sectors doesn't imply that a 55 year old who planned to work for another 10 years can simply take a correspondence course in thin film deposition and move to the solar industry.
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The Recount
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@therecount
Last month, Texas resident Royce Peirce paid $387.70 to heat his two-story house. This month, he owes $8,162.73 — and counting.

Amid freezing temperatures and another looming winter storm, Texans are facing a second crisis: astronomical power

Why are these energy bills so high? You can thank Texas’s power grid for that.

The U.S. is divided into three grids: one covers the eastern states, another the western states, and then there’s the Texas grid, ERCOT, which covers nearly the entire state.

Now you might be wondering: Why does Texas have its own power grid?

If you’re familiar with the state’s history and public policy, you probably already know the answer. In short, Texas has its own grid to avoid dealing with the federal

What we’re witnessing now is a collapse of the state’s power grid.

Amid freezing temperatures, the imbalance between Texas’s staggering electricity demand and its limited supply caused prices to skyrocket from $20 per megawatt hour to $9,000 per megawatt hour — a 450% increase.

One wholesale power supplier, Griddy, made a surprising decision.

CEO Michael Fallquist told Griddy’s 29,000 customers to abandon his service and switch providers: “We want what’s right by our consumers, so we are encouraging them to
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It is 2018 and this error message is a mistake from 1974.
This limitation, which is still found in the very latest Windows 10, dates back to BEFORE STAR WARS. This bug is as old as Watergate.


When this was developed, nothing had UPC codes yet because they'd just been invented.
Back when this mistake was made, There was only one Phone Company, because they hadn't been broken up yet. Ted Bundy was still on the loose. Babe Ruth's home run record was about to fall.

When this bug was developed, Wheel of Fortune hadn't yet aired. No one had seen Rocky Horror. Steven Spielberg was still a little-known directory of TV films and one box-office disappointment. SNL hadn't aired yet. The Edmund Fitzgerald was still hauling iron ore.

WHEN THIS STUPID MISFEATURE WAS INVENTED, THE GODFATHER PART II HAD JUST OPENED IN THEATERS.

So, why does this happen? So Unix (which was only 5 years old at this point) had the good idea of "everything is a file" which mean you could do things like write to sockets, pipes, the console, etc with the same commands and instructions.
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KANAKA DURGAMMA, VIJAYWADA (AP)
#bharatmandir

Ma Kanakadurgeswari is the supreme Goddess of Andhra Pradesh, seated atop the Indrakilaparvatha at Vijayawada.
This area is called Bezawada as Shiva made a bejjam (hole) in the rocks so that Krishna river could flow freely.


Once, a Rishi Indra Keela prayed to Devi and asked her to reside on his head forever. Devi told him to wait in the form of a mountain in the holy plains of River Krishna.
Later, when Devi killed all demons, she settled on Keeladri as Mahishasura Mardini and fulfilled his wish.


In this place, Arjuna performed penance and fought with Shiva, who had appeared in the guise of Kiratha to win Pasupathastra, the most powerful weapon. So this place is also called phalguna theertha and Vijaywada on account of Arjun’s victory.


Adi Sankaracharya visited this shrine and worshipped the Devi. He installed SRICHAKRAM at the feet of Sri Kanaka Durga.

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Trump on climate: I don't believe it. Trump on Khashoggi: I don't believe it. Trump on Russia: I don't believe it. Idiocy? A canny game? Doesn't really matter as much as the underlying intellectual autocracy. In this administration only one opinion matters.

It's an assault on facts and reason. It's an assault on good governance. It's an assault on the bureaucracies that are being discounted. It's an assault on science and history. But it is also an assault on one of the underpinnings of democracy.

We live in a system that is grounded on the idea of collaborative government. Leaders may have a final word but even then, there are typically checks and balances. Hopefully, in this case, such checks and balances may work. But they also are being tested.

The president's position that he is smarter than all the world's scientists, than the entire intelligence community, than experts who have studied any issue all their lives, is, of course, asinine. But his belief that government turns solely on his opinion, is monarchic.

Louis XIV reportedly said, "L'etat est moi." That he was the state. Trump asserting that he knows better than all, discounts all advice, that his brain is enough to chart the course for America alone, is essentially saying the same thing.
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1/x Fort Detrick History
Mr. Patrick, one of the chief scientists at the Army Biological Warfare Laboratories at Fort Detrick in Frederick, Md., held five classified US patents for the process of weaponizing anthrax.

2/x
Under Mr. Patrick’s direction, scientists at Fort Detrick developed a tularemia agent that, if disseminated by airplane, could cause casualties & sickness over 1000s mi². In a 10,000 mi² range, it had 90% casualty rate & 50% fatality rate


3/x His team explored Q fever, plague, & Venezuelan equine encephalitis, testing more than 20 anthrax strains to discern most lethal variety. Fort Detrick scientists used aerosol spray systems inside fountain pens, walking sticks, light bulbs, & even in 1953 Mercury exhaust pipes


4/x After retiring in 1986, Mr. Patrick remained one of the world’s foremost specialists on biological warfare & was a consultant to the CIA, FBI, & US military. He debriefed Soviet defector Ken Alibek, the deputy chief of the Soviet biowarfare program
https://t.co/sHqSaTSqtB


5/x Back in Time
In 1949 the Army created a small team of chemists at "Camp Detrick" called Special Operations Division. Its assignment was to find military uses for toxic bacteria. The coercive use of toxins was a new field, which fascinated Allen Dulles, later head of the CIA
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