US has more than 5,600 banks. Consolidation is coming FT. Yves: “This is ridiculous. The US had over 16,000 banks in the late 1980s. ”
Don’t Underestimate This Market Correction Zen Investor
Economic Predictions with Big Data: The Illusion of Sparsity Liberty Street
Landmark lawsuit claims Monsanto hid cancer danger of weedkiller for decades The Guardian (J-LS).
N. Korea preps nuclear site demolition despite US summit doubts Agence France-Presse
Trump says June summit with Kim Jong Un may be postponed Nikkei Asian Review
Cargo Trade Faces Life in the Slow Lane After Brexit Bloomberg. Light begins to break through the fog…
China orders farmers to grow more soybeans despite deal to buy more produce from US South China Morning Post
New Cold War
The Cold War Culture War American Affairs
Russia, America, and the Biases Within Us Gordon Hahn
Velvet Revolution in Armenia: Russia Stays on the Sidelines Political Violence at a Glance
In Ukraine, the US Trains an Army in the West to Fight in the East Defense One. What could go wrong?
Grades plummet on latest government IT evaluation Federal Times
Email Is Dangerous Quinn Norton, The Atlantic
Ignore the hype over big tech. Its products are mostly useless The Guardian. Or harmful.
Facebook’s Zuckerberg is home free after European Parliament meeting Global Handelsblatt
Mark Zuckerberg’s answers leave angry EU politicians frustrate FT. That photo…. I think The Zuckerberg’s bio-support team needs to pay more attention to flesh tone and consistency.
Democrats in Disarray
Georgia Election: Stacey Abrams wins Democratic primary Atlanta Journal-Constitution. “The Democrats largely abandoned centrist talk to appeal instead to left-leaning voters with a promise of implementing gun control, increasing financial aid for lower-income families and taking steps toward the decriminalization of marijuana…. That’s a stark contrast from more moderate appeals from a generation of Democratic candidates for governor, who often sought the National Rifle Association’s endorsement and touted fiscally conservative policies. They are echoing many in the party’s base who insisted on that shift.”
Democratic voters reject tradition, choosing outsiders in their quest to regain power WaPo. I think the Democrat apparatchiks and their base in the 10% want to “regain power,” as the headline suggests. I’m not sure that all voters cast their votes thinking in those terms.
Worsening drug shortages leave providers scrambling for alternatives Modern Healthcare. “Ninety-one percent of nearly 250 emergency physicians surveyed in a new [American College of Emergency Physicians] poll said they had experienced a shortage or absence of critical medicine in their emergency department in the past month. More than one-third said patient outcomes have been negatively affected as a result.”
Uninsured Rate Remains Basically Flat Despite Republicans’ Attempts To Chip Away At Health Law KHN. A good round-up. Remember when ObamaCare was going to be “universal”? Good times.
Big Brother Is Watching You Watch
Imperial Collapse Watch
COUPS, CORPORATIONS, AND CLASSIFIED INFORMATION Arindrajit Dube, Ethan Kaplan, Suresh Naidu NBER. From 2011, still germane: “We estimate the impact of coups and top-secret coup authorizations on asset prices of partially nationalized multinational companies that stood to benefit from US-backed coups. Stock returns of highly exposed firms reacted to coup authorizations classified as top-secret. The average cumulative abnormal return to a coup authorization was 9% over 4 days for a fully nationalized company, rising to more than 13% over sixteen days. Pre-coup authorizations accounted for a larger share of stock price increases than the actual coup events themselves.”
Vegas casino workers OK strike that may hobble famed resorts AP. Idea: Meet their demands?
How to build a stronger middle class: With respect. Richard Reeves, Brookings Institution. “As I argue in a new Brookings paper, class can be defined along a host of dimensions: by economic resources; education and occupation status; or attitudes, self-perception, and mindset. Determining whether you are ‘middle class’ requires different information for each of these three categories. For the first (cash), we need to see your bank balance. For the second (credentials) we need to see your résumé. For the third (culture), we need to see inside your head.” Sloppy. Reeves conflates “cash” and capital (and the outcome of a social relation with the social relation itself). Still interesting and insightful — the Brits are a foreign country, they do class differently there — but wowsers.
Goldman Sachs Lobby Art Explains Everything That’s Wrong With Our Elites The American Conservative. “Nihilist” deployed a little too freely, I think. Here is the New Yorker version of the same story, from 2010 (“Financial institutions have been taking a lot of hits lately for their role in precipitating the fiscal crisis” (!!)).
How Brain Waves Surf Sound Waves to Process Speech Quanta. Well worth a read. The science is fascinating, but I’m also torn: Monetizing these discoveries without giving the precautionary principle some serious thought seems like a recipe for dystopia.
Antidote du jour (via):
“Go away, this doesn’t concern you.” pic.twitter.com/vzIuebYjyf
— ANIMALS R US (@Animal_R_Us) May 21, 2018
See yesterday’s Links and Antidote du Jour here.