1. SolarWinds - an IT monitoring company with the NSA, all five military branches of the Pentagon, and several major civilian agencies, had their software hacked by the Russian hacker group Cozy Bear yesterday, the same group responsible for the 2016 DNC hack.

1/ PROFILE THREAD: So just who were the people who entered the Capitol on the afternoon of January 6th? If you believe the media they were wealthy, well-armed, white nationalists seeking to overthrow the government - a riotous insurgency. Here are the stories of a few of them:

1. Schedule:

The Military has told media stations to anticipate a public declaration of Martial Law by Sun. 24 Jan.

Military troops were well aware of to whom they should be loyal in the dual government forces over them: "I am a National Guard soldier from the...

For 25 years, the GOP has had almost exclusive control of the FL legislature & admin.

It fashioned every law it could to advantage Republicans, gerrymandered at a bionic level & stymied popular efforts to increase voter participation such as restoration of felon voting rights.

During that same time, the FL GOP poured MILLIONS into turning the state party into a sophisticated, permanent, well-funded voter contact machine.

This gave GOP candidates two massive advantages: 1) they didn’t have to spend on selling the GOP position, 2) all of

in-state messaging got backed up by the RNC, and most importantly, the constant drum beat of Fox News.

There is no biological way to overstate the advantage that Fox News gives to Republicans in red states. MSNBC is NOT the opposite of Fox News.

MSNBC does not structure its programming around whipping up white grievance and fear. Whereas Fox News is the propaganda arm of the RNC, MSNBC is the left leaning version of CNN, not the DNC.

So when I say that Fox News is a huge advantage for the GOP, I know of what I speak.

In FL, Dem candidates spend a inordinate amount of time debunking Fox News lies, even to died in the wool Dems.

Because GOP candidates at every level do not have to spend on messaging, and so not have to spend on attacking Dem policy, they spend almost exclusively on 2 things:

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While debt-to-GDP ratios already have a limited but very misunderstood use, it seems economists are finding bright new ways of misunderstanding them. Now we say that when nominal interest rates are lower than nominal growth rates, the

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downward pressure on the debt-to-GDP ratio makes rising government debt and larger government deficits more sustainable and more easily justified.

This is totally confused. When the nominal interest rate is lower than the nominal GDP growth rate, it only means that net...

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borrowers are getting a disproportionate share of growth relative to net lenders. This in and of itself changes the comparability of the debt-to-GDP ratio, so the fact that the ratio may decline tells us nothing about its sustainability which, I'm glad to say, isn't...

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a mistake Olivier Blanchard makes in this article.

At least three things matter. First, whether or not rising debt is sustainable depends almost wholly on underlying conditions in the real economy, and only trivially on the arithmetical relationship between...

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the interest rate and the growth rate. Second, this approach simply assumes away financial distress costs, in which case debt capacity is infinite anyway and the interest rate becomes irrelevant. And third, it assumes that the nominal debt level matters independently...