Highlights Of Pope Francis’ Speech To Congress Onion (David L)
Kids Who Use Computers Heavily in School Have Lower Test Scores, Major Worldwide Study Finds Hechinger Report. We linked to an earlier report about this study, but this headline is clearer about the main finding.
The big step climate scientists can make to restart the climate change debate & win Fabius Maximus (resilc)
The Fake Traffic Schemes That Are Rotting the Internet Bloomberg (resilc)
Oh Canada! Four in 10 Americans Want Wall on Northern Border Bloomberg (resilc). Huh?
China in the Debt-Deflation Trap Project Syndicate
China to cut growth target: economists Taipei Times
Yuan Undervaluation? Menzie Chinn, Econbrowser
30 charts and maps that explain China today Washington Post
Macron calls for radical reform to save euro Financial Times
France signals EU treaty change to avert Brexit, warns on euro survival Ambrose Evans-Pritchard, Telegraph
Die Linke’s Sarah Vagkenknecht: “I find it hard to congratulate SYRIZA” iskra, original Greek version here (Sid S)
ISIS’ cash-flow problem Business Insider (resilc)
Iran’s Parchin nuclear myth begins to unravel Middle East Eye
Big Brother is Watching You Watch
Imperial Collapse Watch
President Obama makes the ‘nudge department’ official Fusion. “Nudge” = subtler forms of propaganda.
Volkswagen’s Scandal is Libor on Wheels Bloomberg
Investors Are Mining for Water, the Next Hot Commodity New York Times. I had a friend who was a partner in a project in Southern Colorado in the late 1980s-1990s in which they bought the land over the second largest aquifer in the US, the Baca ranch, meaning they were decades ahead of their time. They should have made billions. Unfortunately, they hired the “best” law firm for perfecting their water rights. That firm represented municipalities, which meant when it showed up, the local farmers saw the developers as the bad guys, and mounted a successful fight to hold them off (this despite the developers having studies, which might actually have been genuine, showing that the amount of acre-feet they planned to lift annually would not deplete the water table. The aquifer was so large that it might have been possible to develop it “responsibly”). The net result was that my buddy had a negative net worth of $3 million at the age of 30. He was the sort that was able to earn his way out of his hole without declaring bankruptcy (although he also did stuff in his lean years like buying food stamps from winos at cents on the dollar).
Yellen reiterates case for 2015 rate rise Financial Times
Surprising Data on Who Owns U.S. Firms and How Much They Pay in Taxes Wall Street Journal
The importance of global health investment Larry Summers, Financial Times
The sharing economy is now a playground for Wall Street Gillian Tett, Financial Times
Antidote du jour. We got a very nice note along with this image from reader Sam B. earlier in the week:
Naked Capitalism is the first place I go after pouring a cup of coffee in the morning and where I go in the evening after pouring a glass of wine. Attached is a picture of a tree frog at our winery yesterday, Beaton Farm, in Oregon.
Thank you very much for your effort.