This is what it’s like to be struck by lightning Mosaic (J-LS).
Feds probing psychiatric hospitals for locking in patients to boost profits Ars Technica. Because markets.
Magellan’s Hamish Douglass says Uber is a ‘Ponzi scheme’ Sidney Morning Herald (PU). Hubert Horan:
While the substantive comments in the article are all valid (“one of the stupidest businesses in history,” 99% chance of bankruptcy, etc.) I would quibble with the “Ponzi Scheme” characterization, which I’ve seen pop up a number of times recently, but isn’t really accurate.
In a Ponzi Scheme, cash from later investors would be used to provide returns to earlier investors, and management’s main focus would be to keep the stream of new investment coming in.
Yes, there was an investment shift after 2015 from mainstream Silicon Valley VCs to dumb(-er) foreigners (Russians, Saudis). None of that later money went into the pockets of the earlier investors. And new investment pretty much stopped after the Saudi investment. Raising dumb money after you’ve created a reputation as a hot investment is a clear signal of underlying issues, but it isn’t a “Ponzi Scheme.”
Playing the Shell Game in the Mediterranean Der Spiegel. Malta.
Bloodshed, fires and chaos as thousands march in Brazil to demand president’s ouster Los Angeles Times. Hmm. I guess defenestrating Dilma hasn’t worked out so well.
Are the U.S. and Iran on a Collision Course in Syria? Foreign Policy
Terrorism fears, terrorism hysteria, terrorism facts. Fabius Maximus
China’s Bill Will Have to Be Paid Bloomberg. Follow-up to Moody’s downgrade.
The UK’s Epochal Election Counterpunch
Republican candidate charged with misdemeanour assault of reporter CBC. This might net out positive for Gianforte: “Stopped for gas & snacks en route to Bozeman and told a clerk about Gianforte allegations. Her response: ‘my kind of politician.'”
H.R. 1628, American Health Care Act of 2017 Congressional Budget Office. “CBO and JCT estimate that enacting the American Health Care Act would reduce federal deficits by $119 billion over the coming decade and increase the number of people who are uninsured by 23 million in 2026 relative to current law.”
Republicans’ health-care bill just claimed its first political victim WaPo. “On Tuesday, Rep. Tom MacArthur (R-N.J.) told members of the 50-ish center-right lawmakers that call themselves the Tuesday Group that he is resigning as one of the group’s co-chairs.” MacArthur was last seen in this video (which you should watch in full if you have not; most mainstream versions of it edit out the single payer advocacy).
Donald Trump And Health Care: Firm Run By Trump’s Top Adviser Sounded Alarm About Obamacare Repeal International Business Times
Will New York and California Take the Plunge on Single-Payer Health Care? New York Magazine. Not if the Democrat Establishment can help it….
Ukraine Factions Vie for Lobbying Edge Counterpunch
The Hunt for Ukraine’s Toppled Lenin Statues Atlas Obscura
New Cold War
How a dubious Russian document influenced the FBI’s handling of the Clinton probe WaPo. (This is the Kos rewrite: “Comey was duped by the Russians into bypassing the Justice Department and attacking Clinton.” Wait, now Comey isn’t a Hero of the Republic?) Anyhow, “officials say” is WaPo’s sourcing. That is the sourcing. “Current and former officials.” That is where we are with the sourcing.
Trump’s Go-To Lawyer Kasowitz: A Pit Bull Loyal to the Boss Bloomberg. But will Kasowitz be able to get his boss to button his lip?
GETTING JULIAN ASSANGE: THE UNTOLD STORY John Pilger. A compilation.
Will President Trump Make Rust-Belt Manufacturing Great Again? Dean Baker, CEPR
The New Class War Michael Lind, American Affairs (KF). “Managerial elites.”
The unprecedented expansion of the global middle class Brookings. From February 2017. Everything averages out, in this best of all possible worlds.
Arrest made in discovery of opium poppy plants in Catawba County WBTV (Re Silc). An acre of opium poppies is worth $500 million, says the Sheriff. Better than Walmart or lottery tickets, I suppose. Anyhow, I got yer dynamism right here. It’s just not being measured.
Your Addiction to Social Media Is No Accident Vice (Re Silc).
The Challenge of Flying Below Sea Level Avgeekery.com
Outsmarted Rick Perlstein, The Baffler
Why Economists Have to Embrace Complexity to Avoid Disaster Steve Keen, Evonomics
Antidote du jour:
Bonus antidote (Richard Smith):
Kittens raised near rabbits learn to jump like rabbits pic.twitter.com/kixJx02nKj
— Paul Haine (@paul_haine) May 24, 2017