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'Global Trumpism': Bailouts, Brexit and battling climate change | CBC Radio
[Also here:
https://www.cbc.ca/radio/ideas/global-trumpism-how-rogue-code-writers-became-the-authors-of-our-politics-1.5321199
https://www.cbc.ca/listen/live-radio/1-23-ideas/clip/15741291-global-trumpism-bailouts-brexit-and-battling-climate-change ]

“How did the middle class end up in perpetual debt? Why is there ‘no money’ for infrastructure or social programs, but there is for waging war? And what does all this have to do with Donald Trump, or Brexit, or climate change?

If you’re mystified about any of the above, then author and Brown University professor Mark Blyth can clarify things for you. He says it’s helpful to use a computer metaphor to describe the economy.

In his lecture at McMaster University as part of their Socrates Project, Blyth compared capitalist economies to laptops: different makes, but similar in appearance. He argues these computers run just fine for a while — say, about 30 years . But all the while, there are bugs in the software that eventually causes the system to crash. Then you rebuild the hardware, fix the software, and reboot.

System breakdown
That’s what happened in the 1970s and 1980s, when labour costs and inflation became a problem. The ‘system rebuild’ included less powerful unions, more global trade, and central bankers who were put in charge of setting interest rates.

But this new system generated bugs of its own, among them, a runaway culture of lending, and a lack of wage growth among the middle classes, who did a lot more borrowing than they could afford.

Mark Blyth says this borrowing wasn’t just driven by rampant consumerism.

“How do you get by when … everybody tells you there’s no inflation, yet the cost of everything that matters is actually going up? Education, health care, all that sort of stuff,” Blyth said in his lecture.

“And the only way you can fill in the gap is to borrow more money.”

Cue the 2008 financial crisis
However this time, Blyth says there was no rebuild. Instead, the United States Federal Reserve led a bailout of the big banks, domestically and internationally. The rich got much richer, the middle class got perpetual low interest rates to keep carrying their debts, and the poor had their social programs cut in the name of austerity.

Blyth contends this dynamic is what lit the fuse of global populism: the rise of leaders who appeal to public outrage, alienation, and lack of trust toward career politicians and traditional political parties.

“Your debts are too high…you can’t pay them off, but you can roll them over. They’re not going to be eaten away by inflation, and the people who brought you here have zero credibility,” said Blyth.

[video: https://www.youtube.com/watch?v=KGuaoARJYU0 ]

Blyth compares populist leaders to ‘rogue code-writers’, hacking into the software of a system that was never properly rebuilt after the crisis of 2008. This is not necessarily a bad thing, especially if it strengthens democracies.

“[Populism] is now part of the furniture … It’s already changed, so just get used to it. And let’s remember historically that 100 years ago, the people who were the populists then, the people that everyone was afraid of, became the established parties in many cases,” Blyth told IDEAS host Nahlah Ayed.

“So every now and again you have to have a little revolution, and that’s what’s happening now.”

Populism is springing up on the right and the left, said Blyth. The difficult choices that need to be made about climate change could come from a left-wing populist movement, not unlike the so-called ‘Green New Deal’ proposed by younger American Democrats like Alexandria Ocasio-Cortez.

Looking at how things may unfold in the not-too-distant future, Blyth speculates “right populism wins round one.”

“But ultimately, left populism wins round two, because left populism is the only one that takes climate change seriously,” he concludes.”
2019  markblyth  economics  inequality  brexit  donaldtrump  trumpism  fragility  greatrecession  2007  2008  policy  democracy  personaldebt  debt  taxes  wealth  income  climatechange  bailouts  finance  recessions  recession  oligarchy  popularism  berniesanders  banking  global  financialcrisis  inflation  productivity  consumerism  stockmarket  ipos  wages  middleclass  capitalism  us  uk  canada  caymanislands  delaware  arizona  isleofman  austerity  nahlahayed  latecapitalism  federalreserve  priorities  centralbanks  monetarypolicy  politics  alangreenspan  economists  loans  creditcards  spending 
20 hours ago by robertogreco
Jonathan Kozol: Joe Biden Didn’t Just Praise Segregationists. He Also Spent Years Fighting Busing | Democracy Now!
[See also:

"Part 2: Jonathan Kozol on “When Joe Biden Collaborated with Segregationists”"
https://www.democracynow.org/2019/6/26/jonathan_kozol_on_when_joe_biden

and

"When Joe Biden Collaborated With Segregationists: The candidate’s years as an anti-busing crusader cannot be forgotten—or readily forgiven."
https://www.thenation.com/article/joe-biden-education-busing-opposition/

"Unlike Bernie Sanders, who recently proposed a Thurgood Marshall Plan for public education that calls for a renewal and expansion of desegregation plans by means of transportation, Biden still believes his original position was correct and, according to one of his aides, Bill Russo, sees no reason to revise it. No matter how he tries to blur the edges of his past or present beliefs, no matter how he waffles in his language in order to present himself as some kind of born-again progressive, Biden has not shown that he can be trusted to confront our nation’s racist past and one of its most urgent present needs.

As the mainstream media repeatedly reminds us, Biden is a likable man in many ways. Even his critics often speak about his graciousness. But his likability will not help Julia Walker’s grandkids and her great-grandchildren and the children of her neighbors go to schools where they can get an equal shot at a first-rate education and where their young white classmates have a chance to get to know and value them and learn from them, as children do in ordinary ways when we take away the structures that divide them."]
jonathankozol  2019  joebiden  racism  race  elections  2020  education  schools  schooling  busing  segregation  integration  fannielouhamer  thrurgoodmarshall  juneteenth  corybooker  desegregation  amygoodman  newyork  california  illinois  delaware  maryland 
june 2019 by robertogreco
Delaware becomes first state to give executors broad digital assets access | Ars Technica
"Delaware has become the first state in the US to enact a law that ensures families’ rights to access the digital assets of loved ones during incapacitation or after death.
Last week, Gov. Jack Markell signed House Bill (HB) 345, “Fiduciary Access to Digital Assets and Digital Accounts Act,” which gives heirs and executors the same authority to take legal control of a digital account or device, just as they would take control of a physical asset or document.

Earlier this year, the Uniform Law Commission, a non-profit group that lobbies to enact model legislations across all jurisdictions in the United States, adopted its Uniform Fiduciary Access to Digital Assets Act (UFADAA). Delaware is the first state to take the UFADAA and turn it into a bona fide law.

While some states, including Idaho and Nevada, have some existing provisions pertaining to limited digital assets for heirs, they are not as broad as the new Delaware law. For now, the state's version of UFADAA only applies to residents of Delaware, one of the smallest states by population and land area. If other states don’t follow suit soon, people creating family trusts could conceivably use this Delaware law to their advantage, even without residing in Delaware. However, even though many tech companies (including Twitter, Facebook, and Google) are incorporated there, they will not be affected by the new law."
delaware  law  legal  digital  death  2014  via:alexismadrigal  legacy 
august 2014 by robertogreco
iTunes - Books - Let's Challenge the Myth of Normal by The Pilot School & Bruce Mau Design
"We are The Pilot School, established in 1957. We are an individualized, therapeutic, multidisciplinary, independent day school for children with normal potential, ages five through fourteen, who are experiencing language-based learning problems. We are located in Wilmington, Delaware, and our enrollment is about 150 students. We exist to develop children who become catalysts of their own success."

[Via: http://www.brucemaudesign.com/#/work?project_id=17 ]

[See also: http://www.pilotschool.org/

"Established in 1957, Pilot is an individualized, therapeutic, independent day school for children with normal potential, ages five through fourteen, experiencing language based learning problems." ]

[Published: Dec 05, 2013 ]
thepilotschool  normal  schools  independentschools  education  wilmington  delaware  books 
june 2014 by robertogreco

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