As the Qanon prophecies fail and the cult-members struggle to resolve their cognitive dissonance, it's a good time to revisit the history of paranoid, conspiratorial political movements in American history - the "paranoid style" that has dominated since the Revolution.

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The Democrats are at least two parties. The progressive wing of the party (which is by no means unified) and the finance wing of the party, which is also the party leadership.

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During the leadership race, the progressive wing was represented by @SenSanders and @SenWarren; the former wants to minimize the role of markets in our lives, the latter wants to redeem markets by regulating them. It's a distinction with a difference, but I donated to both.

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Both wings of the party have prominent representatives in Congress; Sandersism are most visibly associated with @AOC (whom I donated to) and Warrenism is embodied by @RepKatiePorter (likewise), who was also one of Warren's law school proteges.

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Porter is a force of nature. She is infamous - and celebrated - for her brutal, no-holds-barred questioning of both corporate and administration witnesses, using a white-board to pin them down and eviscerating any attempts at bullshittery.

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This isn't just about getting facts into the record (though, she is SO GOOD at getting facts into the record!), it's also about effecting change, like when she single-handedly cornered the CDC's chief into guaranteeing universal, free covid

Despite the massive triumphs of the world's largest corporations and most rapacious billionaires during the covid crisis, neoliberalism is in ideological retreat: more people are more critical of the idea that "free markets" can solve big problems than at any time in my life.

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The Democratic nomination race was a fight between the neoliberal wing of the party and the Democratic Socialists, with the candidates representing a spectrum between those two sides (and the odd outlier on either side).

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Supposedly, the party grandees brokered peace between the two main factions, but the left is rightfully suspicious about whether Biden - and Republicans-who-sit-as-Dems like Joe Manchin - will deliver anything beyond symbolic gestures.

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One bright spot: Bernie Sanders is finally chairing the Senate Budget Committee, giving him enormous power over muscular covid relief packages, Medicare expansion, and rolling back Trump and Bush tax-cuts on the

This is where Sanders' long experience in the Senate, and his virtuoso work using its procedures to advance his position, will serve him well. As we saw with McConnell, the ability to wield procedure is a powerful asset in getting stuff done.

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There is no shortage of takes about what's going on with Gamestop (and other surging stocks), Robinhood and Reddit's r/wallstreetbets, many of them contradictory - at least on the face of them. But I think it's possible for most of these takes to be right. Here's how.

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First you need to understand the underlying mechanics of the story. Stock markets are fundamentally a way of making bets, including bets on the outcome of other peoples' bets, and bets on the outcomes of THOSE bets.

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All this complexity creates lots of exploitable opportunities. Some of these opportunities are considered legitimate and are given respectable names like "arbitrage." Others are considered illegitimate, and are called disreputable things like "stock manipulation."

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A hypothetical Martian observing all this through a telescope could not tell you which kinds of bets were honest and which were dishonest, because the difference isn't about any objective standard, but rather, about power.

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The strategies of powerful people are legit, while the strategies of their would-be dethroners are not legit. Sometimes, even outright frauds are OK if they're done by people with enough power.

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In 1637, the Dutch Republic erupted into a speculative fever over an unlikely item...the tulip.

Tulip Mania has become a legend synonymous with market euphoria and bubbles. But is this tale all it's cracked up to be?

Who's up for a story?

👇👇👇

1/ The tulip is a spring-blooming flower native to the valleys of the Tien Shan Mountains in Central Asia.

It is believed to have been introduced to Europe in 1554, when an ambassador of the Holy Roman Emperor sent tulip bulbs and seeds to Vienna from the Ottoman Empire.

2/ Tulips gained in popularity as people were attracted to their rich color and ability to grow in sub-optimal conditions.

They soon became a coveted status symbol for the wealthy.

The Semper Augustus, with its colorful, flame-like streaks, was the most desired of them all.

3/ By the early 1600s, the Dutch Republic was entering a golden age.

Many financial innovations popped up during this time - the first stock exchange, for example.

But it was another financial innovation that would propel tulips into historical lore: the futures contract.

4/ As tulips grow slowly and may take several years to bloom, paper contracts were written that entitled the buyer to the future tulips.

These contracts were freely-traded.

So in addition to the physical market for tulip bulbs, a thriving paper market was established.

Consider that Late Registration came out in 2005.

A 15 year old would only know Kanye as a maga hat embarrassment.

The Selfish Gene came out in 1976. Anyone under 44 only knows dawkins in his bigot form.

The milkshake duck time horizon

Dawkins, for instance, has now been a bigot for much longer than he was a respected scientist.

Kanye has been an embarrassment for much longer than he was a talented rapper.

It's like how a 120-year old has spent half their life as an elderly person.

At some point, the milkshake duck has been one so long that no one remembers the milkshake anymore.

It's just the racist duck, or the terf duck, or the virulently islamophobic duck. Or all three, and for brevity simply called the asshole duck

#BlackHistoryMonth In the Navy, I was fortunate to serve at Commander Cruiser Destroyer Group 2(CCDG2). I reported to duty in 1981 as Radioman Seaman Apprentice(RMSA), and served through 1985 in the communications division achieving the rank of Petty Officer 2nd Class(RM2/SW) /1

This was my first duty assignment. But my first is not important as the first African-American who served as CCDG2's Commanding Officer prior to my arrival, Rear Admiral Samuel L. Gravely, Jr. He was a trailblazer. He was commissioned an Ensign on November 14, 1944. /2

He enlisted and then became one of the first commissioned African-American officers in the US Navy. He was denied housing and even jailed for impersonating an officer. He withstood a cavalcade of abuse and racism and still managed to rise through the ranks of the Navy. /3

He became the first to serve under combat conditions during WW2. He served during the Korean & Vietnam War. He was the first to command a fighting vessel, and commander of the 3rd fleet. He served as Communications officer on the USS IOWA BB-61 /4

He served as the first African-American to command (USS Theodore E. Chandler (DD 717)); command a major warship (USS Jouett (DLG 29)) - and was the first African-American to achieve the rank of Captain in 1967. /5

Along with police, well-connected and well-intentioned people arrived at the Lindbergh estate. Military colonels offered their aid, although only one had law enforcement expertise—Herbert Norman Schwarzkopf, superintendent of the New Jersey State Police. The other colonels were

Henry Skillman Breckinridge, a Wall Street lawyer; and William J. Donovan, a hero of the First World War who would later head the Office of Strategic Services (OSS), the forerunner of the CIA. Lindbergh and these men speculated that the kidnapping was perpetrated by organized

crime figures. They thought that the letter was written by someone who spoke German as his native language. At this time, Charles Lindbergh used his influence to control the direction of the investigation.

The deepest banking crisis of the Great Depression was touched off by the pending failure of two Detroit banks in early 1933. For several weeks, by law, every bank in the entire state of Michigan was closed for business. It was from these beginnings that a national banking

crisis engulfed the final days of the Hoover Administration. What transpired to bring on such a calamitous event? How did individuals cope in that interval without a banking system?

Rhino Barges

One of the dullest, coolest, more bizarre and fascinating pieces of kit used in Normandy.

Which NO ONE REALLY CARES ABOUT.

BUT I DO AND YOU SHOULD TOO.
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#WW2 #SWW #History

Planning for Overlord and Neptune had a serious snag, how to get troops from LSTs onto the beach as simply ramming them onto the beaches and dropping the ramp was known to damage the exceptionally vulnerable LSTs and felt to be unsustainable in the mid to long term. /2

LSTs were essential in sustaining Overlord's progress and were a subject of major headaches in the planning phase, and a real subject of friction when it came to launching additional amphibious operations such as Dragoon.

A single LSTs loss represented a capability nick. /3

So, logic dictated, we don't really want these remarkable but rare and highly valuable vessels constantly doing beach landings, we want something to act as a medium between ship to shore, and in came the (mostly) American designed Rhino. /4

I fucking love Rhinos.

Seriously.

Graceful lines of pure industrial pedigree.

Modular.

LOOK AT IT. /5