Hope everyone had a happy Thanksgiving!
MSNBC anchors get completely rekt by their own reporter on the ground covering the migrant caravan.
ANCHOR: "It's innocent women and children right?"
REPORTER: "From what we've seen, the majority are actually men and some of these men have not articulated that need for asylum" pic.twitter.com/tWBTkeGmSE
— Benny (@bennyjohnson) November 26, 2018
In what appears to be the latest in a string of financial crimes and scandals that have generated some $18 billion in fines since the financial crisis, prosecutors are investigating whether two employees in the bank’s wealth management division helped clients set up accounts in offshore tax havens, including the British Virgin Islands, and possibly allowed criminals to move money through these shelters, some of which may have flowed through accounts at the bank (other employees may also have been involved, prosecutors said). According to Frankfurt prosecutors, the investigation, which stems from revelations contained in the ‘Panama Papers’, covers behavior that stretched through this year, meaning that it could become a blemish on the performance of the bank’s newly-installed CEO Christian Sewing.
Editor: make it "Seattle man"
But he's from Somalia
Editor: Seattle man
What does that have to do with…
Editor: Seattle man
He's muslim and he screamed religious epithets…
Editor: Seattle man
His name is literally Mohammad Mohammed
Editor: Seattle man
— KCDC (@VaughnBeethoven) November 29, 2018
General Motor’s announcement that it’s cutting thousands of jobs and closing several plants has met intense criticism because the company was the beneficiary of a $50 billion government bailout in 2009—which wound up costing taxpayers $11 billion—even as the government awarded the United Auto Workers’ health-care fund a 17.5 percent stake in the restructured company. Like many big American companies, GM has been the recipient of government-subsidized largesse over several decades. One particular piece of this history is especially noteworthy now. Nearly 40 years ago, in one of the most egregious cases of eminent domain abuse in American history, GM built a plant on land seized from homeowners and businesses in Detroit, obliterating a multi-ethnic neighborhood known as Poletown—all for a plant that will now be shuttered so that GM can invest somewhere else in new manufacturing facilities.
Beset by foreign competition, America’s automakers began retrenching in the late 1970s, closing manufacturing facilities in and around Detroit even as the city struggled to rebound from the riots of 1967. Dodge had closed a giant plant in Hamtramck, a suburb that adjoins the Poletown neighborhood, and when GM announced that it wanted to build a new plant somewhere in America with modern industrial technology—though it was closing plants elsewhere—Detroit officials pleaded for an opportunity to find a site for the new facility. Mayor Coleman Young came up with a plan: seize some 1,500 homes and 144 businesses in Poletown, a low-income community of 3,500 where Polish immigrants had once settled. By the early 1980s, Poletown was a more diverse neighborhood, housing older Poles but also more recent immigrants and black Detroit residents. As the city deteriorated, Poletown remained relatively stable. “There is no place for us to go, no place we want to go,” two elderly residents told the New York Times in 1980, to no avail. To Detroit officials, Poletown’s appeal was its proximity to the Dodge site, providing some 465 acres for GM—if officials could just move out those inconveniently located businesses and people. To help make it happen, in April 1980 the Michigan legislature passed its infamous “quick-take” law, providing that government agencies could seize land deemed necessary for a “public purpose” and determine later how much to compensate the private landowners. That law accelerated the process of clearing out Poletown.
The cost of the ingredients of a Thanksgiving feast for ten are now said to cost an average worker their wages for under 2.25 hours of labor. A 16 pound turkey now costs less than what an average worker earns in an hour.
We live lives of such astonishing wealth that we scarcely notice it. Only a fool would rather be an Emperor in 1600 than a poor person living today. Compared to a king of several centuries ago, poor people in the developed world live in astonishing luxury. In the developed world, we eat fresh vegetables in midwinter, our homes are heated toasty warm in the winter and cooled and dehumidified in the summer, we travel in enormous comfort (no wooden wheeled carriages without shock absorbers for us, and indeed, we can fly to the other side of the world for a quite modest sum of money), our medical care is incomparably better, our beds more comfortable, our entertainment options beyond any ancient potentate’s wildest dreams. This is true even of quite poor people, at least in developed countries.
Whence comes this bounty? It is not because of union organizing, or minimum wage laws, or the triumph of the proletariat over the evil factory owners. Indeed, a few centuries ago, there were few mass production factories to triumph over.
No, the source of this bounty is productivity, and the engines of productivity are deferred consumption being invested in improved infrastructure (that is, capital accumulation), improved technology, and specialization. Thanks to our better means of making things and the sacrifices needed to construct those means, productivity per worker is orders of magnitude higher, and thus there’s more stuff to go around.
Centuries ago, it required something like 750 hours of human labor to produce a simple tunic; today it requires minutes of human labor. Almost no one is capable of truly internalizing this change. The shirt on your back once was a valuable capital good requiring four months of constant labor to produce. Now it’s not even worth repairing if it tears, it’s too inexpensive to replace it. Because of this change in productivity, even quite poor people in developed countries own many sets of clothing.
Centuries ago, there was barely enough food to go around, and often far too little, as a result of which starvation was common. It required constant labor by most of the population to produce enough food. Then, mechanization of agriculture set in, and the production of synthetic fertilizer, and pest control, and improved breeding methods; today, it requires very few people to grow more than enough food for everyone. There is so much food, in fact, that obesity has become a disease of the poor, an unprecedented development in human history.
So it is across the span of consumer goods. The amount of labor it requires to produce enough light to read at night has gone down by orders of magnitude, and the quantity of light produced by an ordinary lightbulb is 100 times greater than that of a candle at a tiny fraction of the price. Many goods didn’t even exist before; in my father’s youth there were no televisions, and now people can buy 4k 130cm flat screens.
(Hat tip: Borepatch.)
People have a hard time believing that weight control isn’t just a matter of calories eaten and calories burned. But there is an alternate hypothesis about obesity, which is what my group studies. The carbohydrate-insulin model argues that overeating isn’t the underlying cause of long-term weight gain. Instead, it’s the biological process of gaining weight that causes us to overeat.
Here’s how this hypothesis goes: Consuming processed carbohydrates (especially refined grains, potato products and sugars), causes our bodies to produce more insulin. Too much insulin, one of the most powerful hormones, forces our fat cells into calorie-storage overdrive. These rapidly growing fat cells then hoard too many calories, leaving too few for the rest of the body. So we get hungry, and if we persist in eating less, our metabolism slows down.
Snip.
We started the participants on a calorie-restricted diet until they lost 10%-14% of their body weight. After that, we randomly assigned them to eat exclusively one of three diets, containing either 20%, 40% or 60% carbohydrates.
For the next five months, we made sure they didn’t gain or lose any more weight, adjusting how much food they received, but keeping the ratio of carbohydrates constant. By doing so, we could directly measure how their metabolism responded to these differing levels of carbohydrate consumption.
Participants in the low (20%) carbohydrate group burned on average about 250 calories a day more than those in the high (60%) carbohydrate group, just as predicted by the carbohydrate-insulin model. Without intervention (that is, if we hadn’t adjusted the amount of food to prevent weight change), that difference would produce substantial weight loss — about 20 pounds after a few years. If a low-carbohydrate diet also curbs hunger and food intake (as other studies suggest it can), the effect could be even greater.
This result could explain in part why U.S. obesity rates have been going up for decades. Individuals have a sort genetically predetermined weight — lighter for some, heavier for others. Despite this, the average weight for American men has gone from about 165 pounds in the 1960s to 195 pounds today. Women, likewise, have gone from an average of 140 pounds to about 165.
