Economy
China Flexes Muscles In Parade Marking 70 Years Of Communist Rule (Thomas R.)
“There is no force that can shape the foundation of this great nation and no force that can stop the Chinese people and the Chinese nation from getting ahead,” Xi Jinping, China’s top leader and party chairman, said in an opening speech. He framed the parade as a moment of triumph over the “humiliation” of foreign imperialism beginning with the Opium Wars of the mid-19th century.
Live Updates: Hong Kong Police Shoot Protester, 18, as Demonstrations Turn Violent (TS)
The protesters in Hong Kong hoped to upstage Beijing’s celebrations by holding their own unauthorized marches. Violence quickly broke out, as demonstrators in districts across the city engaged in some of the bloodiest and most sustained clashes since protesters began taking to the streets in early June.
China state media warn US investment curbs will have ‘significant repercussions’ (Thomas R.)
But U.S. Treasury assistant secretary for public affairs, Monica Crowley, said in a statement over the weekend that “the administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time. We welcome investment in the United States.”
Democrats’ Plans to Tax Wealth Would Reshape U.S. Economy (jdargis)
“We are living in the second Gilded Age,” said Bruce Ackerman, a professor of law and political science at Yale University, referring to the stark wealth gap produced by the Industrial Revolution. “What we have once again is people both on the right and the left being provoked by the perception they are being left behind.”
Who pays the most under Bernie Sanders’ ‘inequality tax’ plan (Thomas R.)
The companies that would be hardest hit are mostly in retail and banking or are restaurant chains. Sanders’ campaign said that McDonald’s would have had to pay an extra $111 million in taxes last year under the plan. Walmart would have had to pay $794 million more, Home Depot would have paid $538 million more, and J.P. Morgan Chase would have paid an extra $992 million.
The Internet Is Overrun With Images of Child Sexual Abuse. What Went Wrong? (tmn)
An investigation by The New York Times found an insatiable criminal underworld that had exploited the flawed and insufficient efforts to contain it. As with hate speech and terrorist propaganda, many tech companies failed to adequately police sexual abuse imagery on their platforms, or failed to cooperate sufficiently with the authorities when they found it.
Law enforcement agencies devoted to the problem were left understaffed and underfunded, even as they were asked to handle far larger caseloads.
Computers Are Making Huge Mistakes Because They Can’t Understand Chaos, Scientists Warn (Ivo M.)
The butterfly effect is primarily attributed to American mathematician and meteorologist Edward Norton Lorenz, who in the 1960s, while repeating a weather simulation, took a history-making shortcut: he used slightly simplified numbers for the second experiment (inputting 0.506 instead of 0.506127).
“I went down the hall for a cup of coffee and returned after about an hour, during which time the computer had simulated about two months of weather,” Lorenz later recalled.
Twitter Executive is Psy-Op Soldier – Middle East Eye (Suzie G.)
However, that Twitter is actually literally employing officers from this corps as executives is more brazen and unpleasant than many would expect.
Ian Cobain’s piece is meticulously sourced and cited, and a must-read.
Here’s why the Forever 21 bankruptcy could be really bad news for US mall owners (Thomas R.)
The average Forever 21 store is close to 40,000 square feet but there are some locations that span more than 100,000, which is more like the size of a traditional department store. Larger locations can prove to be much more difficult to fill. Landlords are already dealing with the aftermath of a Sears bankruptcy filing last October, with store closures continuing to drip out, and empty Toys R Us locations, which have been vacant for more than a year.
Consumer instant gratification can prove risky (Thomas R.)
To be sure, accelerated pay is not the same as a payday loan, which is generally considered the absolute worst way to borrow money in a pinch. Often offered through storefront payday lenders or even online, those short-term loans, generally for $500 or less, can come with an interest rate that easily runs into the triple digits — in addition to a “finance charge” or service fee.
‘Out here, it’s just me’: In the medical desert of rural America, one doctor for 11,000 square miles (tmn)
In Texas alone, 159 of the state’s 254 counties have no general surgeons, 121 counties have no medical specialists, and 35 counties have no doctors at all. Thirty more counties are each forced to rely on just a single doctor, like Garner, a family physician by training who by necessity has become so much else: medical director of Culberson County. Head physician for a nearby immigration detention center. Director of a rural health clinic. Chief of staff for Culberson Hospital. And medical director for the hospital’s emergency room, where the latest patient was being wheeled in as Garner introduced himself.
Couples can have different preferences about how they like to sleep, including types of sheets, temperature of the bedroom and time they go to bed, said Jared Minkel, a clinical assistant professor at Brown University and director of adult behavioral sleep medicine at Rhode Island Hospital.
It doesn’t get better with time.
How a hyperloop may change how and why we travel (Thomas R.)
“My sense is that hyperloop will absolutely happen,” said Devin Liddell, principal futurist at Seattle-based design company Teague. “Think about the emerging traffic problems in some of biggest U.S. cities. Yuck. We need a new system like hyperloop because our present systems are terrible. This is a better solution.”
The first hyperloop system to carry passengers will likely be built in India or the United Arab Emirates.
Shale Boom Is Slowing Just When the World Needs Oil Most (Adam)
The American shale boom is slowing as innovation plateaus—and just when shale’s importance in global markets has reached new highs following an attack on the heart of Saudi Arabia’s oil infrastructure.
Gold & Silver
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