Here’s Where Market Timing Works Institutional Investor
* * *
Fungal infection outbreak affects 90+ workers at Escanaba paper mill Free Press. Not in a flour factory, fortunately.
Can China’s Long-Term Growth Rate Exceed 2–3 Percent? Michael Pettis, China Financial Markets
Xi says China must strengthen training for ‘actual combat’ Channel News Asia
US starts week of courting Asian partners after Taiwan flare-up Channel News Asia
Macron doubles down on Taiwan comments, says France won’t be US ‘vassal’ France24. “The empty vassel makes the greatest sound.” –William Shakespeare, Henry V, except not.
Dear Old Blighty
Sunak says discussed ‘economic opportunities’ for N.Ireland with Biden Reuters. But somebody got Biden’s dose wrong (1):
Arriving in Belfast, the Biden did not recognize the Prime Minister of Great Britain and pushed the "boy" away to salute the gray-haired military man. pic.twitter.com/OA2AzJCt3a
— Spriter (@Spriter99880) April 12, 2023
Somebody got Biden’s dose wrong (2):
BIDEN JUST CALLED THE ALL BLACKS THE BLACK AND TANS!!!! pic.twitter.com/M2FREst26K
— Daragh Mulligan (@DazmanOnline) April 12, 2023
Kidding! Except not.
‘Joining the picket line is a last stand’: junior doctors on the four-day strike Guardian. Commentary:
And here is my payslip from July 2000 when I, like @Dr_DeanS, was at the end of my second year as a doctor.
22 years later and the take home pay has gone up by… £1.98.
— Rob Dineen (@MRIman_9) April 11, 2023
Another way of looking at this is that the destruction of the NHS — and, by extension, the destruction of, well, socialized medicine globally, an act of civic vandalism for which it’s hard to find a parallel — has been a project carried on over a twenty year period. Awesome discipline and sense of purpose by elites.
New Not-So-Cold War
What’s Really Going on Between Russia and China Foreign Affairs. What’s going on is that the brain geniuses in The Blob thought a two-front war, U.S. v. China + Russia, would be a really good idea. They did everything they could to make it happen. And they’re still at it.
* * *
Trading with the Enemy (excerpt) Seymour Hersh:
The Ukraine government, headed by Volodymyr Zelensky, has been using American taxpayers’ funds to pay dearly for the vitally needed diesel fuel that is keeping the Ukrainian army on the move in its war with Russia…. Zelensky has been buying the fuel from Russia, the country with which it, and Washington, are at war, and the Ukrainian president and many in his entourage have been skimming untold millions from the American dollars earmarked for diesel fuel payments. One estimate by analysts from the Central Intelligence Agency put the embezzled funds at $400 million last year.
That’s real money! “‘It would be beautiful in another context,’ [Smiley] remarked almost dreamily.” Here is an article that quotes Hersh’s excerpt, plus other snippets.
* * *
Ukraine’s Spring Offensive Just Got Harder Bloomberg. “[T]he Ukrainians still have their heroic will.” See under Will, Triumph of?
Ukraine’s Best Chance Foreign Affairs. The deck: “A Successful Offensive Could End the War With Russia.” And if my mother had wheels, she’d be a tea cart.
* * *
Finland’s Turn New Left Review
US sanctions are here: Hungarian head of the Russian spy bank is also on the list Daily News Hungary. Hungary being both in NATO and the EU.
* * *
Ukraine’s outrage grows over video seeming to show beheading AP. I have to run this but I can’t take the time to look it; suffice to say that Ukraine has form on fakes (plus the Azovs for whatever is real).
Leaker of U.S. secret documents worked on military base, friend says WaPo. Today’s must-read. Every so often I mutter than we have an enormous population of gamers, but gamers + games (as opposed to gaming (in both senses)) don’t show up in the broader culture or the zeitgeist. Well, now they have. Yves and I discussed this piece; it seems to us remarkably “shiny”; perhaps written, from clues in tone and structure, by an entity other than the bylined “reporter.” The central character in the excessively tight narrative, “OG,” the leaker, is putatively a Christian, a gun enthusiast, and something akin to a cult leader of a group of disaffected teenagers on the Discord server where the documents were found; his motive in placing the documents there seems to have been to consolidate his authority and moral ascendancy over his group. Meanwhile, “OG” seems almost perfectly calcuated to fit neatly into the “fascist traitor” hole in liberal heads. I wonder if we’ll ever find him? One can see “The Hunt for OG” storyline persisting for many weeks, good job. But perhaps he’s already left for Venezuela? As far as cui bono, Yves points out that obvious next steps are to pass the pernicious Restrict Act and exert authority over yet another platform, Discord.
Our Famously Free Press
Meet the Censored: Me? Racket News. Well worth a read. Wouldn’t happen if we had the blogosphere again (assuming the Democrats and their assets in the organs of state security didn’t start working through ISPs, of course).
MSNBC’s Mehdi Hasan Gets Basic Facts Wrong on DHS Content Moderation Partnership Lee Fang. Fang jumps ship from The Intercept to Substack.
* * *
Training your successor:
Police State Watch
a16z’s crypto report anticipates developer growth as blockchain scaling solutions expand TechCrunch. There is always a market for fraud.
Florida fight over ‘baby boxes’ part of bigger culture war Independent. Not the same as Finland’s baby boxes, more’s the pity.
Bali is overrun by influencers. Locals are fighting back Australian Financial Review. I read the whole thing with horrified fascination.
Home Sweet Home Bloomberg. Van life.
* * *
‘In Marx’s novel …’ London Review of Books
Tension mounts in US West Coast ports labour talks Seatrade Maritime
The Super Rich Are Worried. Should You Be? Barron’s. Yes, because I am sure the super-rich will wish to share their worries with us all. Handy chart:
Countries with the most billionaires in 2023:
🇺🇸 USA: 735
🇨🇳 China: 495
🇮🇳 India: 169
🇩🇪 Germany: 126
🇷🇺 Russia: 105
🇭🇰 Hong Kong: 66
🇮🇹 Italy: 64
🇨🇦 Canada: 63
🇹🇼 Taiwan: 52
🇬🇧 UK: 52
🇧🇷 Brazil: 51
🇦🇺 Australia: 47
🇫🇷 France: 43
🇨🇭 Switzerland: 41
🇯🇵 Japan: 40
🇸🇪 Sweden: 39
— World of Statistics (@stats_feed) April 13, 2023
JPMorgan Unveils Headquarters With Dimon Committing to New York Bloomberg. “It’s offering lots of amenities at the Park Avenue tower, including yoga and cycling rooms, meditation spaces, an abundance of outdoor areas and a state-of-the-art food hall.” All the stuff Silicon Valley just axed.
Hugh Kenner and the Origin of the Work of Art Nonsite.org. Big fan of Kenners Ulysses, a guidebook to Joyce’s work.
Antidote du jour (via):
See yesterday’s Links and Antidote du Jour here.