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Fed Up: Culture Shock

by Danielle DiMartino Booth, Money Strong

Article of the Week from Money Strong

"If it were possible to take interest rates into negative territory, I would be voting for that."

- - - - - - - - Janet Yellen, February 2010

Click on image to order book from Amazon.

fed.up.danielle

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Kenneth Arrow's Ignored Impossibility Theorem

from William K. Black, New Economic Perspectives

Kenneth Arrow, one of the giants of economics, has died at the age of 95. He became a Nobel Laureate in 1972. As a young lawyer in 1977, I saw him in action as an expert witness on the subject of risk. The context was setting the rates for shipping oil through the Trans-Alaska Pipeline System (TAPs). Arrow testified about the risks of oil prices falling. The FERC administrative law judge thought such a scenario was ridiculous. Within four years, oil prices fell sharply. Arrow's experience was a common one for economists dealing with lawyers - the ALJ ignored him.

kenneth.arrow

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The Blame Game

by Reverse Engineer, Doomstead Diner

Discuss this article at the Geopolitics Table inside the Diner

As our economy spins down, our climate deteriorates, our geopolitical system descends into chaos and warfare, placing BLAME for this sad state of affairs is a popular thing to do amongst Bloggers and people who comment on blogs. This Blame Placing works its way down from the very large to the very small. In this article, I will cover the way various Pundits and Commenters in the Collapse Blogosphere like to place blame for the ongoing Collapse of Industrial Civilization.

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Fascism Defined And Described By Oswald Mosley

by FEE, fee.org

-- this post authored by Tyler Cowen, Gearge Mason University

oswald.mosleyFascism: One Hundred Questions Asked and Answered is a book published in 1936 by British fascist Oswald Mosley, and it is arguably the clearest first-person introduction to the topic for an Anglo reader, serving up less gobbledygook than most of the Continental sources. Mosley actually makes arguments for his point of view, and thinks through what possible objections might be, which is not the case with, say, Marinetti.

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Charity Is Not How We Solve Poverty

by FEE, fee.org

-- this post authored by Jason Sorens, Dartmouth College

In a famous 1972 article, "Famine, Affluence, and Morality," philosopher Peter Singer compared global poverty to a child drowning in a pond:

[I]f it is in our power to prevent something very bad from happening, without thereby sacrificing anything morally significant, we ought, morally, to do it.

child.drowning.rescue

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At A Turning Point In US History, Shepard Smith Denounces Trump

by Lee Adler, Wall Street Examiner

Shepard Smith's denunciation of Trump is even more courageous and important than Edward R. Murrow's denunciation of Senator Joe McCarthy in the early 1950s. Murrow was denouncing a demagogue with great power, but the subject of his historic condemnation was not the President. It was a Senator.

trump.presser.caption

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Winter Olympics 2022: Beijing And China's Second 'Coming-Out Party'

Written by Dan Steinbock, Difference Group

After a decade of huge international events, many Chinese people suffer from 'gala-fatigue.' So has the case for Beijing Winter Olympics 2022 dimmed as well? Not necessarily.

Click for larger image at gizmodo.com.

olympic.alpine.skiing.2022

See note at end of article.

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Of Debt, Detriment, And Exorbitant Privilege

by Benn Steil

-- this post coauthored by Emma Smith

China's currency games have been helping, not harming, the dollar

Valery Giscard d'Estaing, then French finance minister and later president, remarked half a century ago:

"It is the exorbitant privilege of the United States that it can conjure the world's primary reserve currency."

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Jeff Sessions And The Thuggery Of Asset Forfeiture

by FEE, fee.org

-- this post authored by Daniel J. Mitchell

One of the unfortunate features of Washington is that people often wind up in places that bring out their worst behaviors.

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