The Mirage Called 'Modern Monetary Theory' (Kevin J.)
It was only 60 days and 3,000 Dow Jones points ago that the POTUS threatened to fire the chairman of the U.S. Federal Reserve (Jerome Powell) and the Treasury Secretary (Steven Mnuchin), resulting in a resounding call to arms that has since added over 10% to the S&P 500 and dropped the ten-year yield from 3.25% to 2.65%. Happy, smiling faces of Wall Street gamblers and online speculators are popping up everywhere as the Trump Presidency continues to groom its legacy with the iron fist of price management and interventions. “Balance sheet normalization” and “quantitative tightening” are now fragments of a distal threat, and margin calls are what your now-unemployed work mates got a few short months ago, but will never again stain the palette of the profit and loss (P&L) statement.
Plugged as possibly the chart of the century by economist and originator Mark Perry, it shows that prices of goods subject to foreign competition — think toys and television sets — have tumbled over the past two decades as trade barriers have come down around the world. Prices of so-called non-tradeables — hospital stays and college tuition, to name two — have surged.
Haley, 47, is the first female governor of South Carolina, and a three-term legislator in the South Carolina House of Representatives.
In the graphic below, I have compared the lifespan of various civilisations, which I define as a society with agriculture, multiple cities, military dominance in its geographical region and a continuous political structure. Given this definition, all empires are civilisations, but not all civilisations are empires. The data is drawn from two studies on the growth and decline of empires (for 3000-600BC and 600BC-600), and an informal, crowd-sourced survey of ancient civilisations (which I have amended).
What's Murphy's Law? (Jesper A.)
What on the surface appears as ‘logic’ is in fact as expressed by Murphy, a systems-effect. We all have heard of a weak link in a defence or organisation. The weak link argument in terms of systems states then that all links interact and as they do breaches will end up in the weaker parts of the defence, or that which is in fact unrevealed namely the problems will ‘show up’ at this spot or point.
With tensions rising over Russian fears that the United States might deploy intermediate-range nuclear missiles in Europe as a Cold War-era arms-control treaty unravels, Putin has said Russia would be forced to respond by placing hypersonic nuclear missiles on submarines near U.S. waters.
Facebook to get tougher on anti-vaxers (Sparky1)
The Facebook representative, who asked not to be named, said the social media giant is working with health experts to decide what changes to make and considering a combination of approaches to handle vaccine misinformation. These approaches wouldn't take misinformation off Facebook but rather make it less prominent.
Build Central America, Not a Wall (jdargis)
Eradicating gangs, which drive much of the northward migration, is especially difficult. The International Crisis Group has warned that mass deportations from the United States risk fueling gang violence unless accompanied by serious economic investment in impoverished communities. Just subjecting gang members to harsh prisons and branding them terrorists has backfired, the group said.
A World Without Clouds (tmn)
Evidence is mounting in favor of the answer that experts have long suspected but have only recently been capable of exploring in detail. “It’s quite clear at this point that the answer is clouds,” said Matt Huber, a paleoclimate modeler at Purdue University.
Gold & Silver
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