Fearless commentary on finance, economics, politics and power

Climate scientist Michael Mann discusses the increasing frequency and severity of heat waves, as we’ve seen in India, the US, and now Europe.

Sad but necessary, a primer on civil asset forfeiture.

Today’s Water Cooler: Trump and Apple, Biden, Gabbard, Harris, Sanders, DSA, scooters, McKinsey, Tesla, climate and conflict, gaming and threats, gaming and happiness, “Medicare Extra, Red Summer, the Acela Corridor, influencers, the Ramones, neuron and galaxy networks, Japanese poetry

What is Libra supposed to bring to us that we don’t have already? Freedom from legacy currencies will have a high price to pay.

China upsets its neighbors.

No one is blinking in the Brexit staredown.

Even budget hawks ought to embrace infrastructure spending, since those projects typically produce $3 of tax revenues for every $1 spent when there’s a backlog, as we clearly have in the US. So what is Trump’s excuse?

“This case gives me hope that we will not continue to cooperate in our own destruction, and future generations will be able to rely on us to uphold the spirit of the law and purpose behind government” –Attorney

Today’s Water Cooler: Sanders, Warren, debates, Mueller, RussiaGate, Noam Chomsky interview, employment, durable goods, manufacturing, Twitter, Boeing 737, Airbus, Moody’s and climate, climate and individual action, clouds, BSA Dual Power Map, organizing, paying it forward

CalPERS General Counsel Matt Jacob pawed CEO Marcie Frost. Not a good look.

Angus Deaton argues that the present level of inequality is a threat to “democratic capitalism” but contends that historically, even more severe inequality has been reversed.

Yet another reason to combat carbon emissions: More of them = less healthy food.