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2:00PM Water Cooler 12/20/2024 | naked capitalism

20 December 2024
in Economy
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2:00PM Water Cooler 12/20/2024 | naked capitalism
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By Lambert Strether of Corrente.

Chicken Music of the Day

Northern Mockingbird, Tulare Ave., Contra Costa, California, United States. “In magnolia tree at approx. 8 ft off the bottom, straight above microphone.” Barking canine, however energetic fowl!

* * *

In Case You May Miss…

New Covid knowledge, with wastewater improve.
Mangione hit with Federal fees, loss of life penalty attainable.
Biden wasn’t been governing the nation, an extra-constitutional entity was.

* * *

Politics

“So most of the social reactions that strike us as psychological are in truth a rational administration of symbolic capital.” –Pierre Bourdieu, Classification Struggles

* * *

Biden Administration

“How the White Home Functioned With a Diminished Biden in Cost” [Wall Street Journal]. It took me awhile to get previous the paywall. As of the 2020 marketing campaign: “Biden, now 82, has lengthy operated with a tightknit interior circle of advisers. The protecting tradition contained in the White Home was intensified as a result of Biden began his presidency on the top of the Covid pandemic. His employees took nice care to forestall him from catching the virus by limiting in-person interactions with him. However the shell constructed for the pandemic was by no means totally taken down, and his superior age hardened it. The construction was additionally designed to forestall Biden, an undisciplined public speaker all through his half-century political profession, from making gaffes or missteps that would harm his picture, create political complications or upset the world order. The system put Biden at an uncommon take away from cupboard secretaries, the chairs of congressional committees and different high-ranking officers. It additionally insulated him from the scrutiny of the American public.” And: “Interactions between Biden and lots of of his cupboard members had been comparatively rare and infrequently tightly scripted. A minimum of one cupboard member stopped requesting calls with the president, as a result of it was clear that such requests wouldn’t be welcome, a former senior cupboard aide stated.” And: “Former administration officers stated it typically didn’t seem to be Biden had his finger on the heartbeat.” • “Circle” is an fascinating phrase. Proper after Biden slipped a cog in debate, I selected that phrase:

I’ve been making an attempt to think about a phrase for this extra-constitutional entity, this small group that might play — or maybe is already enjoying the identical position within the Biden Presidency that the group round Edith Wilson performed in Wilsons. The Axios URL exhibits the unique headline was one thing like biden-debate-replace-advisers, however the editors jacked it as much as learn “Biden oligarchy.” However that’s mistaken; oligarchy is a whole political system. (“Biden oligarchs” may need been OK, however to me, an oligarch is a member of the one small group that basically issues: The squillioniares, and though Biden et al. could service the squillioniares, they aren’t, themselves, squillionaires.) I considered cabal, milieu, gang, clique, crew, faction, workforce, troop, membership, coterie, posse, and eventually settled on the time period “circle,” since a circle has a middle (Biden), connotes repetitiveness and stability, and has allied phrases “social circle” and “interior circle.”

So it’s clear that america has been ruled by an extra-constitutional entity (Biden’s “circle”) for fairly a while, presumably since Biden’s inaugural. Yikes! (“Presidenting is difficult work” —George W. Bush.)

Democrats en déshabillé

I hold getting advertisements like this from Kamala:

President Biden and I are dedicated to constructing an economic system that works for each American. Now we have taken historic motion to create jobs, put money into small companies, and forgive scholar mortgage and medical debt. pic.twitter.com/crBAUFiXP8

— Vice President Kamala Harris (@VP) December 18, 2024

It’s like she thinks she’s nonetheless operating. Or is that this the most effective the DNC can do on messaging proper now?

Realignment and Legitimacy

“Luigi Mangione Charged With The Stalking And Homicide Of UnitedHealthcare CEO Brian Thompson And Use Of A Silencer In A Crime Of Violence” (press launch) [United States Attorney for the Southern District of New York]. However not terrorism, apparently. “FBI Assistant Director James E. Dennehy stated: “Luigi Mangione allegedly performed the rigorously premeditated and focused execution of Brian Thompson to incite nationwide debates. This alleged plot demonstrates a cavalier perspective in direction of humanity – deeming homicide an applicable recourse to satiate private grievances. By means of continued shut partnership with the NYPD, the FBI maintains our steadfast dedication to fervently pursue any particular person who promotes a private agenda by means of violence.” • Versus a company agenda?

“Federal homicide cost in opposition to Mangione might imply loss of life penalty in CEO killing” [NPR]. “The federal fees in opposition to him embody: one depend of utilizing a firearm to commit homicide, which carries a most sentence of loss of life or life in jail; one depend of interstate stalking leading to loss of life; and one depend of stalking by means of use of interstate services leading to loss of life (every carrying a most sentence of life in jail); and one depend of discharging a firearm outfitted with a silencer to commit a violent crime (which carries a sentence of 30 years to life in jail.”

“A whirlwind day for Luigi Mangione ends with new fees, revelations from a pocket book and switch to a federal jail” [CNN]. “The 26-year-old homicide suspect started his day at a jail in Huntingdon, Pennsylvania, his dwelling for the final 10 days, and ended it in a infamous federal jail in New York…. Mangione has been indicted on 11 fees in New York, together with first-degree homicide as an act of terrorism. He has not but pleaded to the costs. He additionally faces fees in Pennsylvania in connection to the 3D-printed firearm and false ID allegedly in his possession when he was arrested. Blair County District Legal professional Peter Weeks stated he wouldn’t push to have these fees heard forward of Mangione’s rather more severe fees in New York. And a federal criticism in opposition to him was unsealed noon Thursday including 4 new fees and offering new particulars on a pocket book authorities say was in his possession.” • Mangione’s manifesto mentions the pocket book (“The spiral pocket book, if current, has some straggling notes and To Do lists that illuminate the gist of it”). Now right here it’s. Why wasn’t it within the Central Park backpack with the monopoly cash? And all the opposite paraphernalia, if it involves that.

“Learn the Luigi Mangione federal legal criticism” [CBS]. From the Pocket book as excerpted within the criticism:

I don’t suppose we’ll be seeing the whole pocket book anytime quickly….

“Meet the Authorized Insider Defending Luigi Mangione” [Wall Street Journal]. “Just some years in the past, Karen Friedman Agnifilo managed the Manhattan district legal professional’s workplace and its fleet of greater than 500 attorneys…. Whereas Friedman Agnifilo has minimal courtroom expertise as a criminal-defense legal professional, her private {and professional} curiosity in psychological well being, empathetic strategy to purchasers and intimate information of her former workplace will probably be key, colleagues stated. ‘She’ll be capable to predict what the prosecutors will do earlier than they do it,’ stated lawyer Danya Perry, who has labored along with her in non-public observe… Her husband, the protection lawyer Marc Agnifilo, is predicted to play a supporting position within the case. He’s additionally representing Sean ‘Diddy’ Combs [(!!!)] at his federal sex-trafficking trial this spring.

“Luigi Mangione canonized as a ‘saint’ by crazed on-line followers after loss of life penalty bombshell” [Daily Mail]. “Many on-line are claiming Mangione is going through worse punishment that hardened criminals and college shooters, speculating that the federal government needs to make an instance out of him and stop some form of revolt in opposition to company America. One X submit learn: ‘They wanna give Luigi Mangione the loss of life penalty. That’s the one motive they making him face federal fees. ‘They actually wanna kill him for daring to threaten capitalism and company greed. They don’t even do that to highschool shooters.’ One other X consumer added: ‘Only a few college shooters have gotten the loss of life penalty. But the U.S. is making an attempt to cost Luigi Mangione so he will get the loss of life penalty for killing one man. You may kill dozens of youngsters and get a lesser sentence as a result of their lives don’t matter as a lot as a CEO’s. That’s America.’ Some are stating that the federal government’s dealing with of Mangione, which included a perp stroll straight out of a Hollywood movie, is simply rising the general public’s fixation on him. One X consumer stated: ‘luigi stepping out with a contemporary minimize/shave, attainable loss of life penalty fees, and an nypd photoshoot is the craziest factor on the planet. are they actively making an attempt to make him a martyr? whether or not you’re for or in opposition to him, they’re making it SO straightforward for everybody to lionize him.’” • The perp stroll:

NYPD apparently sat round asking themselves “how can we prepare to move Mangione in a method that makes him look to his supporters like Christ being taken to the cross” pic.twitter.com/psP9W7PDlx

— Nathan J Robinson (@NathanJRobinson) December 19, 2024

After all Mayor Adams (heart left, ha ha) has to get into the act…

Syndemics

“I’m in earnest — I can’t equivocate — I can’t excuse — I can’t retreat a single inch — AND I WILL BE HEARD.” –William Lloyd Garrison

* * *

Covid Sources, United States (Nationwide): Transmission (CDC); Wastewater (CDC, Biobot; contains many counties; Wastewater Scan, contains drilldown by zip); Variants (CDC; Walgreens); “Iowa COVID-19 Tracker” (in IA, however nationwide knowledge). “An infection Management, Emergency Administration, Security, and Normal Ideas” (particularly on hospitalization by metropolis).

Lambert right here: Readers, thanks for the collective effort. To replace any entry, do be at liberty to contact me on the handle given with the crops. Please put “COVID” within the topic line. Thanks!

Sources, United States (Native): AK (dashboard); AL (dashboard); AR (dashboard); AZ (dashboard); CA (dashboard; Marin, dashboard; Stanford, wastewater; Oakland, wastewater); CO (dashboard; wastewater); CT (dashboard); DE (dashboard); FL (wastewater); GA (wastewater); HI (dashboard); IA (wastewater experiences); ID (dashboard, Boise; dashboard, wastewater, Central Idaho; wastewater, Coeur d’Alene; dashboard, Spokane County); IL (wastewater); IN (dashboard); KS (dashboard; wastewater, Lawrence); KY (dashboard, Louisville); LA (dashboard); MA (wastewater); MD (dashboard); ME (dashboard); MI (wastewater; wastewater); MN (dashboard); MO (wastewater); MS (dashboard); MT (dashboard); NC (dashboard); ND (dashboard; wastewater); NE (dashboard); NH (wastewater); NJ (dashboard); NM (dashboard); NV (dashboard; wastewater, Southern NV); NY (dashboard); OH (dashboard); OK (dashboard); OR (dashboard); PA (dashboard); RI (dashboard); SC (dashboard); SD (dashboard); TN (dashboard); TX (dashboard); UT (wastewater); VA (wastewater); VT (dashboard); WA (dashboard; dashboard); WI (wastewater); WV (wastewater); WY (wastewater).

Sources, Canada (Nationwide): Wastewater (Authorities of Canada).

Sources, Canada (Provincial): ON (wastewater); QC (les eaux usées); BC (wastewater); BC, Vancouver (wastewater).

Hat tricks to useful readers: Alexis, anon (2), Art_DogCT, B24S, CanCyn, ChiGal, Chuck L, Festoonic, FM, FreeMarketApologist (4), Gumbo, hop2it, JB, JEHR, JF, JL Joe, John, JM (10), JustAnotherVolunteer, JW, KatieBird, KF, KidDoc, LL, Michael King, KF, LaRuse, mrsyk, MT, MT_Wild, otisyves, Petal (6), RK (2), RL, RM, Rod, sq. coats (11), tennesseewaltzer, thump, Tom B., Utah, Bob White (3).

Keep secure on the market!

* * *

TABLE 1: Day by day Covid Charts

Wastewater

★

This week[1] CDC December 16

Final week[2] CDC (till subsequent week):

★ Variants [3] CDC December 21

★ Emergency Room Visits[4] CDC December 14

Hospitalization

★New York[5] New York State, knowledge December 19:

★ Nationwide [6] CDC December 19:

Positivity

Nationwide[7] Walgreens December 16:

Ohio[8] Cleveland Clinic December 14:

Vacationers Information

★ Positivity[9] CDC December 2:
★ Variants[10] CDC December 2::

Deaths

Weekly Deaths vs. % Positivity [11] CDC November 20:

Weekly Deaths vs. ED Visits [12] CDC November 20:

LEGEND

1) ★ for charts new at present; all others usually are not up to date.

2) For a full-size/full-resolution picture, Command-click (MacOS) or right-click (Home windows) on the chart thumbnail and “open picture in new tab.”

NOTES

[1] (CDC) Seeing extra purple and extra orange, however nothing new at main hubs.

[2] (CDC) Final week’s wastewater map.

[3] (CDC Variants) XEC takes over. That WHO label, “Ommicron,” has finished a fantastic job normalizing successive waves of an infection.

[4] (ED) A bit uptick.

[5] (Hospitalization: NY) Leveled out.

[6] (Hospitalization: CDC). Leveling out.

[7] (Walgreens) Leveling out.

[8] (Cleveland) Continued upward development since, nicely, Thanksgiving.

[9] (Vacationers: Positivity) Leveling out.

[10] (Vacationers: Variants). Positivity is new, however variants haven’t but been launched.

[11] Deaths low, positivity leveling out.

[12] Deaths low, ED leveling out.

Stats Watch

Inflation: “United States PCE Worth Index Annual Change” [Trading Economics]. “Annual PCE inflation within the US accelerated for a second month to 2.4% in November 2024 from 2.3% in October, however beneath expectations of two.5%.”

* * *

Manufacturing: “Boeing charts ‘aggressive’ 737 Max manufacturing ramp-up in 2025” [The Air Current]. “Boeing’s provide chain needs the airplane maker to be boring in 2025. Boeing has different concepts… Now, the corporate is progressing with a steep manufacturing acceleration on its single-aisle 737 Max that can take a look at its youthful workforce, fragile provide base and its chief regulator within the 12 months to come back. At present, Boeing goals to have its manufacturing traces constructing 737 Max jets totally transitioned to a price of 38 per thirty days in Might 2025, in accordance with a number of individuals aware of Boeing’s planning inside the corporate and the provision chain. Whereas Boeing stated it’s approaching its restart and ramp up “methodically”, one senior official at a significant Boeing provider instructed The Air Present that the airplane maker is prone to repeating previous errors — accelerating its manufacturing unit tempo too rapidly and pushing the deliveries from its provide chain past what the suppliers and their manufacturing traces can accommodate. “That’s extremely aggressive, most likely unrealistic,” stated the provider official. Underscoring the fragility of the belief between Boeing and its huge community of suppliers, the official stated: “All I would like is a 12 months the place they’ll do what they are saying they’ll do,” noting that the corporate’s manufacturing steerage for the provision chain has repeatedly did not materialize since even earlier than the 737 Max was grounded for 20 months beginning in March 2019.” • Properly, Ortberg is simply betting the corporate. So what’s the difficulty?

* * *

At present’s Worry & Greed Index: 28 Impartial (earlier shut: 22 Worry) [CNN]. One week in the past: 49 (Impartial). (0 is Excessive Worry; 100 is Excessive Greed). Final up to date Dec 20 at 1:31:53 PM ET.

The 420

“Hashish pollen dispersal throughout america” [Nature]. “For the lately legalized US hemp business (Hashish sativa), cross-pollination between neighboring fields has turn out to be a major problem, resulting in contaminated seeds, lowered oil yields, and in some instances, mandated crop destruction…. Our findings reveal that pollen deposition charges escalate from summer season to autumn as a result of discount in convective exercise throughout daytime and the rise in wind shear at evening because the season progresses. We discover diurnal variations in pollen dispersion: nighttime situations favor deposition in proximity to the supply, whereas daytime situations facilitate broader dispersal albeit with lowered deposition charges. These shifting climate patterns give rise to particular areas of CONUS extra susceptible to hemp cross-pollination.”

Zeitgeist Watch

“Polyamory doesn’t Liberate; Monogamy doesn’t Shield” [Carsonogenic]. “The traditional poly delusion, is to assume that by way of poly, you will get your whole wants met. Polyamory literature says you possibly can’t anticipate one individual to meet your whole emotional wants. That is true. The shadow implication of this assertion is which you can anticipate a handful of individuals to meet your whole emotional wants. This isn’t true. Different individuals don’t exist to fill our emotional voids. To cite Bo Burnham ‘If you need love, the love has gotta come from you……” So and however: “The most important monogamy delusion is clear. It’s easy: the concept that you possess your companion, or that you just even can – the concept that by irrevocably binding your self to somebody, you possibly can keep away from any risk of abandonment or heartbreak.” • Youngsters as of late. San Francisco-based youngsters…..

Information of the Wired

I’m not feeling wired at present.

* * *

Contact data for crops: Readers, be at liberty to contact me at lambert [UNDERSCORE] strether [DOT] corrente [AT] yahoo [DOT] com, to (a) learn the way to ship me a examine in case you are allergic to PayPal and (b) to learn the way to ship me pictures of crops. Greens are high-quality! Fungi, lichen, and coral are deemed to be honorary crops! If you need your deal with to seem as a credit score, please place it firstly of your mail in parentheses: (thus). In any other case, I’ll anonymize by utilizing your initials. See the earlier Water Cooler (with plant) right here. From:

* * *

Readers: Water Cooler is a standalone entity not lined by the annual NC fundraiser. Materials right here is Lambert’s, and doesn’t specific the views of the Bare Capitalism web site. In the event you see a hyperlink you particularly like, or an merchandise you wouldn’t see wherever else, please don’t hesitate to precise your appreciation in tangible type. Keep in mind, a tip jar is for tipping! Common optimistic suggestions each makes me really feel good and lets me know I’m heading in the right direction with protection. Once I get no donations for 3 or 4 days I get frightened. Extra tangibly, a relentless trickle of donations helps me with bills, and I consider that trickle when setting fundraising objectives:

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This entry was posted in Water Cooler on December 20, 2024 by Lambert Strether.

About Lambert Strether

Readers, I’ve had a correspondent characterize my views as lifelike cynical. Let me briefly clarify them. I imagine in common applications that present concrete materials advantages, particularly to the working class. Medicare for All is the prime instance, however tuition-free faculty and a Submit Workplace Financial institution additionally fall below this heading. So do a Jobs Assure and a Debt Jubilee. Clearly, neither liberal Democrats nor conservative Republicans can ship on such applications, as a result of the 2 are totally different flavors of neoliberalism (“As a result of markets”). I don’t a lot care in regards to the “ism” that delivers the advantages, though whichever one does need to put widespread humanity first, versus markets. Could possibly be a second FDR saving capitalism, democratic socialism leashing and collaring it, or communism razing it. I don’t a lot care, so long as the advantages are delivered.

To me, the important thing challenge — and that is why Medicare for All is at all times first with me — is the tens of 1000’s of extra “deaths from despair,” as described by the Case-Deaton examine, and different current research. That giant physique depend makes Medicare for All, on the very least, an ethical and strategic crucial. And that degree of struggling and natural harm makes the issues of id politics — even the worthy battle to assist the refugees Bush, Obama, and Clinton’s wars created — brilliant shiny objects by comparability. Therefore my frustration with the information move — at the moment in my opinion the swirling intersection of two, separate Shock Doctrine campaigns, one by the Administration, and the opposite by out-of-power liberals and their allies within the State and within the press — a information move that continually forces me to give attention to issues that I regard as of secondary significance to the surplus deaths. What sort of political economic system is it that halts and even reverses the will increase in life expectancy that civilized societies have achieved? I’m additionally very hopeful that the persevering with destruction of each get together institutions will open the area for voices supporting applications much like these I’ve listed; let’s name such voices “the left.” Volatility creates alternative, particularly if the Democrat institution, which places markets first and opposes all such applications, isn’t allowed to get again into the saddle. Eyes on the prize! I really like the tactical degree, and secretly love even the horse race, since I’ve been running a blog about it every day for fourteen years, however all the pieces I write has this angle behind it.

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