Month: March 2021

Because ……… Texas

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It turns out that even under the insane rules under which the Texas energy markets operate, producers overcharged distributors and consumers to the tune of $16 billion.

Runnign the math, that’s about $550 for every man, woman, and child residing in Texas.

There are no plans to claw this back, because ……… Texas.

I’m thinking that we should allow Mexico to claw back the whole state:

An independent market monitor said the Texas power-grid operator made a critical mistake that resulted in $16 billion in electricity overcharges last month, and recommended that the charges be reversed.

The monitor concluded that Texas kept wholesale prices high for 33 hours longer than warranted as the state dealt with a major winter storm that led to power shortages and mass blackouts and should correct this mistake by retroactively repricing its wholesale power market for that period.

A Public Utility Commission of Texas spokesman said the issue was slated for discussion at a scheduled meeting on Friday.

A reversal of the charges would be a boon to many participants in the market—from retailers to electric cooperatives, wind farms to multistate generators—that suffered significant financial harm when they needed to buy power at the peak price of $9,000 per megawatt hour.

The entire culture of government in Texas is deeply and pervasively corrupt, both at the elected official level as well as at the bureaucratic level.

It needs to be addressed, with many senior Texas political officials, and senior bureaucrats, frog-marched out of their offices in hand cuffs.

She is a Psychopath

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Senator Sinema a little too happy for poverty wages to remain pic.twitter.com/ze2T2CGtML

— RootsAction (@Roots_Action) March 5, 2021

Horriffic

It’s one thing to vote against raising the minimum wage, even if you are, as Kyrsten Sinema (D=AZ) is, nominally a member of the Democratic Party.

It’s quite another to show up dressed like a Japanese school girl, and then cast your vote with a thumbs down as one is a roman emperor.

It’s even worse when one sees the unholy glee she expresses in crushing MILLIONS of American workers.

Kyrsten Sinema is even more of a psychopath than is Mitch McConnell.

At least HE has the decency to skulk in the shadows while he does evil.

Sinema revels in the evil that she is doing.

Getting rid of her and Manchin is worth losing the Senate.

As Atrios Says

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“Time for another blogger ethics panel.”

It’s a catch phrase of his dating back to the early aughts, that he used, and still uses, whenever a reporter or columnist at one of the major news outlets is caught profiting off of an undisclosed conflict of interest.

This time, it’s David Brooks, who was caught taking a full time salary from the Aspen Institute as well as running the Weave Project,  both of which have taken money from Mark Zuckerberg, Jeff Bezos, the Walton (Walmart) family, and a plethora of corporate sources that he routinely shills for.

Brooks has resigned from the Aspen institute, the status of the rest of his affairs is unclear:

David Brooks has resigned from his position at the Aspen Institute following reporting by BuzzFeed News about conflicts of interest between the star New York Times columnist and funders of a program he led for the think tank.

Eileen Murphy, a spokesperson for the Times, said in a statement that editors approved Brooks’s involvement with Aspen in 2018, when he launched a project called Weave. But current editors weren’t aware he was receiving a salary for Weave.

Spoiler, he is receiving a salary for Weave.

………

Brooks’s resignation comes after BuzzFeed News discovered further evidence of conflicts of interest and entanglements with corporate and billionaire donors to Weave.

Brooks did not immediately respond to a request for comment.

BuzzFeed News first revealed Brooks never disclosed to Times readers that he takes a full-time salary for his work on Weave, or that its funders include Facebook, the father of Amazon founder Jeff Bezos, and other wealthy individuals and corporations. Brooks recently wrote a blog post for Facebook’s corporate website in praise of Facebook Groups, a product that has often been a fount of misinformation and hate speech.

………

If you know someone who lives alone ask them to join NextDoor, which is Facebook for neighborhoods. It helps them stay in touch with those right around them. Vital in a crisis.

— David Brooks (@nytdavidbrooks) March 14, 2020

Over the past 24 hours, BuzzFeed News discovered new evidence of potential conflicts. On March 15 of last year, as Americans faced a deadly pandemic, Brooks appeared on “Meet The Press”and offered some advice.

“We need to take moral steps to make ourselves decent neighbors to each other as we go through this thing. I think people should get on Nextdoor, this sort of ‘Facebook for neighbors,’” he said.

Left unsaid by Brooks was that Nextdoor, a social network for neighborhoods, had donated $25,000 to Weave. A day before his appearance on the nationally televised NBC program, Brooks also tweetedto his nearly 250,000 followers, “If you know someone who lives alone, ask them to join NextDoor.”

Another new revelation: Last month, Brooks appeared in a Walton Family Foundation video and did not disclose that the organization, run by the billionaire family that founded Walmart, also funds his project.

Brooks’s failure to disclose these conflicts of interest added to the string of ethically questionable actions by the columnist and author related to his work on Weave.

Brooks will survive this, he fits the NYT narrative for a, “Reasonable Conservative,” but in a less toxic workplace than the Times newsroom, he would be gone.

They Do Want Vaccines, You Racist Dirt-Bag

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Sites in PG County mostly serve (White) folks from outside the County

So, now Maryland Governor Larry “Ratf%$#” Hogan is claiming that it’s not his policies that are undervaccinating Black people, it’s that Black folks don’t want vaccines. 

While the never Trumpers see Hogan as the future of the party, it is clear that he as extensively relied on racist appeals to maintain his popularity, particularly by deliberately short-changing Baltimore City and Prince George’s County, the which have the two largest minority communities in the state:

A 94-year-old veteran got so tired of waiting for an appointment that he drove around his Washington suburb at random, hunting for a vaccine.

A partially blind 81-year-old wanted a shot but had no computer or smartphone to register online. Yet another elderly Black resident of Maryland’s hardest-hit county, this one 102 years old, relied on church friends a few decades younger to help her through a distribution system best navigated by Gen Z.

Amid concern that prioritizing speed has heightened vaccine inequity statewide, Prince George’s County stands out: The majority-Black suburb has by far the most coronavirus cases in Maryland, and the lowest percentage of vaccinated residents.

Gov. Larry Hogan (R) has repeatedly cited vaccine hesitancy among minority groups as the key cause for the lagging rates, saying at one point that African American and Latino residents in Prince George’s, who represent 84 percent of the county’s population, are “refusing to take the vaccine.”

But local, state and federal leaders from across Maryland — all of them Democrats — blame the state’s decentralized sign-up system, which they say prioritizes those with more time, technology and information at their disposal over those who are disproportionately dying.

In interviews, more than a dozen vaccine-seeking Prince Georgians agreed.

………

Statewide, Black people represent 31 percent of Maryland’s population but only 16 percent of vaccine recipients for whom race has been reported. That disparity has grown wider over the past two months, according to a state analysis. Prince George’s lags far behind other counties, with just 8.3 percent of residents having received their first shot as of Thursday. 

………

An equity task force Hogan created released plans on Thursday to target underserved communities with pop-up clinics and other efforts, and solicit ideas from community groups about how best to deliver vaccine doses. The governor acknowledged the state was “not where we need to be with the Black community or the Hispanic community.”

But Hogan also said he believes the state has done far more than others to acknowledge and address racial inequity in vaccine distribution.

“I’m not going to respond to every criticism of every person who does not like what we say or do,” he said.

To quote John Mulaney, “That’s what I thought you’d say you dumb f%$#ing horse.”

Last week, the governor outraged Democratic lawmakers when he said Baltimore City was receiving more doses than it was “entitled to.” 

Yes, massah. 

He’s got more class than Trump, who doesn’t, but he’s pandering to the same racist dirt-bags.

About F%$#ing Time

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It appears that at least some economists are willing to learn, and they have that the headline unemployment rate is artificially low because it does not take into account discouraged workers. 

This has been true basically forever, but economists, who favor low wages for everyone but economists, and people who sit on their tenure committees have only now begun to realize this:

When Brianna Kipnis was laid off from a fitness start-up last June, she thought it would be nice to take a month off before returning to the jobs market. She cancelled the lease on her New York City apartment and moved in with her parents in neighbouring New Jersey.

………

The hopelessness felt by Kipnis and many others is one of the reasons that US policymakers, from the Federal Reserve to the Biden administration, have lost faith in the unemployment rate as an indicator of the strength of the jobs market.

The rapid decline in the US jobless rate has so far exceeded the forecasts of private sector economists and Fed officials alike. The latest reading, for February, will be published on Friday.

But the headline figure has obscured far less encouraging trends in America’s labour market, and is now considered an incomplete and unreliable guide to the trajectory of the US recovery.

“Published unemployment rates during Covid have dramatically understated the deterioration in the labour market,” Jay Powell, the Federal Reserve chair, said during a speech last month, noting that a more realistic unemployment rate was closer to 10 per cent.

Powell is not an economist, which is the second time that this has happened since (I think) William McChesney Martin left the post in 1970, (G. William Miller was in for about a year in the late 1970s, and his time in office was ……… problematic) and I would argue that he has been the best Fed Chair since then. 

You know what you call 1000 economists at the bottom of the ocean?  “A good start”

Why the Hell Haven’t I Been Banned from Twitter?

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And I am outraged that James Hodgkinson was not a better shot.

— Jack Dorsey Is Objectively Pro-Nazi (M.G. Saroff) (@40_Years) March 4, 2021

Seems bannable to me

In response to a Tweet from Steve Scalise (R-LA) wherein he expressed, “Outrage,” over the House of Representatives passing a bill to make it easier for people to vote, I replied, “And I am outraged that James Hodgkinson was not a better shot.”

James Hodgkinson, as you probably already know, was the left-wing gunman who opened fire on a baseball practice being conducted by Congressional Republicans, severely wounded Representative Scalize. (He nearly died, both from the immediate effects of the shooting, and later from a post operative infection.)

Not only am I still on Twitter, but I haven’t even been called an asshole.

At least this time, unlike the last time, I will actually have done something meriting a banning.   (Last time, it was (I think, I never got an answer) for using the term “Wymyn” as a part of a joke.)

You have to love automated content moderation, where things like discussions of chess get flagged as hate speech.

Well, Now We Know Why Moscow Mitch Is Angling to Leave the Senate

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We are now seeing reports that Mitch McConnell is aggressively trying to change Kentucky law in an attempt to prevent the Democratic Governor of the state from appointing someone should he leave office.

The question is, “Why?”

There have been questions as to his health, but I think that it is rather more likely that he is deeply involved in his wife’s corrupt abuse of her office as Secretary of Transportation to benefit her family business. 

My hope is that McConnell thinks that he will at some point in the not so distant future be forced to resign as a part of a plea deal for public corruption. (I prefer his living in misery to his dying)

It has been an open secret that Elaine Chao is relentlessly corrupt, and now that it is a matter of public record, via an Inspector General report, I don’t think that it will be allowed to fade away as it did when she was Bush, Jr.’s Secretary of Transportation:

While serving as transportation secretary during the Trump administration, Elaine Chao repeatedly used her office staff to help family members who run a shipping business with extensive ties to China, a report released Wednesday by the Transportation Department’s inspector general concluded.

The inspector general referred the matter to the Justice Department in December for possible criminal investigation. But in the weeks before the end of Trump administration, two Justice Department divisions declined to do so.

Ms. Chao, the wife of Senator Mitch McConnell of Kentucky, the Republican leader, announced her resignation on Jan. 7, the day after the Capitol riot. At the time of her departure, an aide to Ms. Chao said her resignation was unrelated to the inspector general’s investigation.

The investigation of Ms. Chao came after a 2019 report in The New York Times that detailed her interactions with her family while serving as transportation secretary, including a trip she had planned to take to China in 2017 with her father and sister. The inspector general’s report confirmed that the planning for the trip, which was canceled, raised ethics concerns among other government officials.

As transportation secretary, Ms. Chao was the top Trump administration official overseeing the American shipping industry, which is in steep decline and is being battered by Chinese competitors.

………

The investigators did not make a formal finding that Ms. Chao violated ethics rules. But they detailed more than a dozen instances where her office took steps to handle matters related to her father, who built up a New York-based shipping company after immigrating to the United States from Taiwan in the late 1950s, and to her sister, who runs the company now.

These included an interview with a Chinese-language television station at the New York City headquarters of Foremost Group, the shipping company. The focus of the conversation there, according to a Transportation Department translation of the media plan prepared for the interview, was to discuss how Ms. Chao’s father, James Chao, had been “dubbed ‘Chinese Ship King,’ how Foremost Group ‘ascended to its status in the world,’ and Dr. Chao’s business endeavors.”

………

Ms. Chao had declined to respond to questions from the inspector general and instead provided a  memo that detailed the importance of promoting her family as part of her official duties.

“Anyone familiar with Asian culture knows it is a core value in Asian communities to express honor and filial respect toward one’s parents,” the September 2020 memo said. “Asian audiences welcome and respond positively to actions by the secretary that include her father in activities when appropriate,” it continued.

That explanation is complete bullsh%$, because:

The investigators found that Ms. Chao had used her staff to arrange details for Mr. Chao’s trip to China in October 2017, including asking, through the State Department, for China’s Transport Ministry to arrange for two cars for a six-person delegation, which included Ms. Chao’s younger sister Angela Chao, who had succeeded their father as head of the family shipping company, and Angela Chao’s husband, the venture capitalist Jim Breyer.

The trip had been scheduled to include stops at locations in China that had received financial support from the company and also a meeting with “top leaders” in China that was to include Elaine Chao’s father and sister, but not other members of Transportation Department staff. The trip was canceled just before Ms. Chao’s planned departure after ethics concerns were raised by officials at the State and Transportation Departments.

The investigators also found that she repeatedly asked agency staff members to help do chores for her father, including editing his Wikipedia page and promoting his Chinese-language biography. They said she directed two staff members from her office to send a copy of Mr. Chao’s book “to a well-known C.E.O. of a major U.S. corporation” to ask if he would write a foreword for it.

No one in China ever heard about the above.  This was about using government resources to corruptly benefit her immediate family.

………

The report said that none of the Transportation Department employees interviewed “described feeling ordered or coerced to perform personal or inappropriate tasks for the secretary.”

In deciding not to take up a potential criminal case, the report said, the Justice Department notified the inspector general that “there may be ethical and/or administrative issues to address but there is not predication to open a criminal investigation.”

Of course they did not find a reason to open a criminal investigation, William Barr was acting as Donald Trump’s personal consigliere rather than as Attorney General.

I am not suggesting that Joe Biden should tell Merrick Garland to criminally investigate Elaine Chao, it is an inappropriate for a President to give these sorts of instructions to the Department of Justice.

However, I do think that it is appropriate for Joe Biden to tell Merrick Garland that he should make all resources possible available for investigations of official wrongdoing that might have been short-changed under William Barr.

This would include, of course the behavior of both William Barr and Elaine Chao, and that if professional prosecutors determine there is probably cause for an investigation, that all resources necessary be allocated to clear up such matters as expeditiously as possible.

Cuomo Advisers Altered Report on Covid-19 Nursing-Home Deaths – WSJ

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It now appears that members of the Cuomo administration falsified reports on nursing home deaths from Covid-19, one would assume to give their boss some political cover.

Falsifying official government documents is a crime, and you can be pretty dam sure that hizzonner knew.

The response to this news should be the AG opening a criminal investigation:

New York Gov. Andrew Cuomo’s top advisers successfully pushed state health officials to strip a public report of data showing that more nursing-home residents had died of Covid-19 than the administration had acknowledged, according to people with knowledge of the report’s production.

………

The changes Mr. Cuomo’s aides and health officials made to the nursing-home report, which haven’t been previously disclosed, reveal that the state possessed a fuller accounting of out-of-facility nursing-home deaths as early as the summer. The Health Department resisted calls by state and federal lawmakers, media outlets and others to release the data for another eight months.

No, they falsified their reports.

That is a very different. and quite illegal, thing.

State officials now say more than 15,000 residents of nursing homes and other long-term-care facilities were confirmed or presumed to have died from Covid-19 since March of last year—counting both those who died in long-term-care facilities and those who died later in hospitals. That figure is about 50% higher than earlier official death tolls.

………

Federal prosecutors in Brooklyn asked the Cuomo administration in February for information about nursing-home deaths, The Wall Street Journal has reported. Federal prosecutors expressed interest in the July report, people familiar with the matter said.

Cuomo has aided and abbeted corruption as a way to further his power for over a decade, see the convictions of New York House Speaker Sheldon Silver and New York Senate leader Dean Skelos for corruption, as well as his actions to shut down his own anti-corruption commission, the Moreland Commission, when it too close to him and his.

In response to questions from the Journal, administration officials said Thursday that Mr. Cuomo’s advisers advocated against including data on out-of-facility deaths because they had concerns about its accuracy.

Concerns about accuracy, my ass.  This was a coverup to maximize Cuomo’s political advantage as he attempted to sell himself to the American public as “Governor Covid”.

………

State lawmakers from both parties have said the out-of-facility death data was critical for them to evaluate nursing-home policies that could prevent future fatalities. They said the Cuomo administration’s decision to delay its release constitutes a coverup of data the governor knew would be damaging to his political stature.

………

The Justice Department, through its Civil Rights Division, began requesting information about nursing-home deaths from New York and other Democratic-leaning states in August.

………

The initial version of the report submitted to Mr. Cuomo’s team for review included both data on deaths of nursing-home residents in hospitals and deaths of residents inside nursing homes, people familiar with the report’s production said.

………

In January, a report by the New York Attorney General said the state had undercounted nursing-home deaths and said the governor’s directive may have spread the disease.

It’s corruption all the way down, and I really would like to see Governor Cuomo become defendant Cuomo.

It’s Unemployment Claim Thursday

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And in a REMARKABLY circuitous headline, the Wall Street Journal announces that, “U.S. Jobless Claims Hold Nearly Steady,” because they rose only 9,000 from the (revised upward from 730,000 to 736,000) jobless claims of the week before.

It is a remarkably awful headline, and you know that if claims had fallen by 9,000 it would have been called a drop:

Filings for unemployment benefits in the latter half of February reached their lowest level in nearly three months amid signs of slow labor-market improvement.

The Labor Department said jobless claims, a proxy for layoffs, rose slightly to 745,000 for the week ended Feb. 27, from a revised 736,000 the prior week. The four week moving-average, which smooths out week-to-week volatility in claims numbers, was just under 800,000, its lowest level since early December.

So the numbers went up, and are still higher than they were in early December.

Screwing with headlines to minimize this is not a good look.

Tomorrow’s job numbers should be interesting.

FWIW, I don’t think that the Texas energy f%$#-up had much to do with this number, while there were certainly many people in Texas unable to work because of their delusional free-market energy dystopia, it is abundantly clear that none of them could file, because there was no power to run the unemployment offices.

Linkage

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 This describes just how corrupt the SPAC is:

It’s like They Are Playing to Lose

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The headline in New York Magazine says it all, “Democrats Strip $1,400 Checks From 12 Million for No Reason.” 

That’s 12 million voters who know that the Democrats lied to them, and they were likely the margin of victory in at least one of the Georgia runoffs that gave Democrats Joe Manchin control of the US Senate.

This is horrible policy, about $8 billion in a $1.9 trillion stimulus package, 0.42%, and it is worse politics.


The official hat of the Biden Administration

The stimulus checks are the single most popular part of the bill, but the so-called moderates in the Democratic Party establishment (There is no Democratic Party establishment) needed a scalp so that they could wave their dicks, and Biden caves.

To quote not-Tallyrand, (it is frequently misattributed to him) “It is worse than a crime, it is a mistake.

Democrats often wonder why they don’t get more votes, because their policies are popular.

They don’t get more votes because people do not believe that Democrats will actually follow through.

Why Am I Not Surprised?

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In news that makes a f%$#-load of sense, it turns out that murders by cops declined in the wake of the Black Lives Matter protests.

This is not surprising.  The additional scrutiny, and the decrease in mindless support for cops murdering black people, should have the effect of cops murdering fewer black people: 

Since Black Lives Matter protests gained national prominence following the 2014 police killing of Michael Brown in Ferguson, Mo., the movement has spread to hundreds of cities and towns across the U.S. Now a new study shows police homicides have significantly decreased in most cities where such protests occurred.

Black Lives Matter (BLM) began when Oakland, Calif.–based activist Alicia Garza posted a message of protest on Facebook after George Zimmerman, a neighborhood-watch volunteer who followed and fatally shot 17-year-old Trayvon Martin in Sanford, Fla., was acquitted of murder in 2013. Patrisse Cullors, another Oakland community organizer, began sharing Garza’s message on social media, along with the hashtag #blacklivesmatter. The slogan soon spread, building into a largely leaderless movement against structural racism and police violence. Last year, spurred by a Minneapolis police officer’s killing of George Floyd, millions of people demonstrated in hundreds of BLM protests throughout the U.S.

“Black Lives Matter represents a trend that goes beyond the decentralization that existed within the Civil Rights Movement,” says Aldon Morris, a sociologist at Northwestern University, who was not involved in the new study. “The question becomes, ‘Are Black Lives Matter protests having any real effect in terms of generating change?’ The data show very clearly that where you had Black Lives Matter protests, killing of people by the police decreased. It’s inescapable from this study that protest matters—that it can generate change.”

The study, posted in February as an online preprint item on the Social Science Research Network, is the first of its kind to measure a possible correlation between BLM and police homicide numbers. It found that municipalities where BLM protests have been held experienced as much as a 20 percent decrease in killings by police, resulting in an estimated 300 fewer deaths nationwide in 2014–2019. The occurrence of local protests increased the likelihood of police departments adopting body-worn cameras and community-policing initiatives, the study also found. Many cities with larger and more frequent BLM protests experienced greater declines in police homicides.

The BLM protests made America a better place.

Headline of the Day

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Joe Biden Owes Neanderthals an Apology After Comments on Texas Mask Mandate Lift

—Charlie Pierce

Yes, the Texas governor has decided to lift all Covid restrictions, because  ……… TEXAS, and the governor of Mississippi has decided to lift all Covid restrictions, because  ……… they can’t abide TEXAS out-stupiding them.

Biden described this as, “Neanderthal Thinking,” which is, as the eminently quotable Mr. Pierce notes, unfair to Homo Sapiens Neanderthalensis, who by all indications were just as capable and intelligent as our own Homo Sapiens Sapiens.

I think that we should give Texas back to Mexico, if they will take it.

As to Mississippi,could someone please take them?  Anyone?

Yes

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Over at The American Prospect, they ask, “Are Endowments Damaging Colleges and Universities?“

That sounds nonsensical, but that is because the real question that they are asking is, “Is the path chosen by universities and colleges to rely on risky and extremely high fee strategies run by Wall Street big shots to increase returns on their endowments damaging colleges and universities?”

That answer is unequivocally yes, even if you are not as incompetent a steward of your college’s money as Larry Summers was at Harvard. 

The goal of the Wall Street big shots is to maximize their own personal gain, and by promising big and providing almost Byzantine complexity that shields them from oversight, they make bank, and the colleges get f%$#ed:

These are perilous times for private, nonprofit, independent higher education, and not just because of changing demographics, ever-climbing tuitions, and pandemic shutdowns. For years, education researchers have charged that institutions are unable to control costs effectively, especially their operating costs. In public discourse, colleges and universities are often characterized as reckless spenders. So when they slash academic budgets or cut staff, nearly everyone shrugs. Higher education has gradually accommodated itself to austerity thinking. But as any critic of neoliberalism can tell you, austerity is really just another way that money and resources are redistributed upward, and outward.

It is rarely, if ever, discussed how endowment fund management is an integral part of the budget problem. As the tax filings of virtually every private college or university show, enormous investment management fees are pouring out of nearly every substantial endowment and into the pockets of fund managers. Most of these fund managers are not university employees, but rather work for industries such as private equity, hedge funds, and other so-called “alternative” investments. According to its tax filings, Oberlin College (my alma mater) paid out a total of $14,872,522 in investment management fees between 2013 and 2017, averaging around $3 million per year. During that same period, Amherst College paid out $186,601,258. At both colleges, investment management fees actually exceeded reported profits from investments several times. Excluding Harvard (which manages its roughly $41 billion endowment internally and has also faced criticism for immensely high overheads), the remaining Ivy League colleges reported paying out $241,653,279 in fees in 2017 alone. That same year, Stanford University paid out $47,901,005, and Johns Hopkins $28,112,000. The list goes on and on.

………

But we can say that the pattern reflects a widespread institutional practice with endowments, tax-free investments held by nonprofit institutions that provide education as a public good. Increasingly, endowments are invested in expensive, secretive, unregulated, illiquid, risky, and hard-to-value financial instruments—the strategy laid out by David Swensen in his book Pioneering Portfolio Management and nicknamed the “Yale Model.” While acknowledging the greater risks involved, Swensen credits Yale’s returns to this strategy, noting that “developing partnerships with extraordinary people” is the single most important element for its success. What makes these people extraordinary is not specified, but the enormous amounts of money they are paid does fit that description.

Nontraditional asset class investing has become so widely fashionable among university endowments that it has taken the form of ideology. Very few institutions seem to balk at putting alumni and other donations into risky, illiquid investments, something that would have been regarded as foolish and dangerous only a few decades ago.

 As I have said here many times, “There is nothing that the finance industry cannot ruin.”

Why Facebook is Freaking Out Over Apple

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About 7 months ago, I mentioned that a Dutch broadcaster turned off tracking ads, and went with simple contextual ads, and earned more money.

Contextual ads are, for example, you read a story and the ads are based on what you are reading, so if you were looking as sports, you would get ads for beer, and if you were looking at barbecue recipes, you would get ads for beer, and if you were reading a story about a heat wave, you would get ads for beer. 

Tracking ads, on the other hand will look at everything that you have done in the past 18 months, and determine that because you looked at sports, barbecue, and the weather, you get served an add for beer. (all ads lead to beer, but that is another post)

The reason that tracking ads are more popular these days is because they are supposed to get higher response rates..

Certainly, that is what the incumbents, like Facebook and Google want you to think, because if contextual ads work just as well, then pretty much anyone can go into the online ad business, and Google and Facebook can no longer slurp up most of the revenue

This is why Facebook is going nuclear about Apple’s new privacy policies, which will require an explicit opt-in for tracking.

It’s not because they would lose a whole lot of money with this, they would still sell ads, but because this is a massive A/B test on the internet giant’s business model.

If advertisers find that non tracking ads work just as well, or nearly so for less money, they will switch to non-tracking ads.

This is why we have leaked emails in which Mark Zuckerberg states that, “We need to inflict pain,” on Apple.

I’m inclined to believe that Mark Zuckerberg already knows that the ad tech he sells is a lie, and the emperor does not wish to reveal his sartorial choices.

All this is a long way around to seeing that we now have another data-point in addition to the Dutch broadcaster NPO, we also have the New Zealand news site Stuff, which has abandoned Facebook to no effect. (They did so because of Facebook’s irresponsibility both before and after the Christchurch shootings)

The short version, (video below) is that Stuff cut advertising spending on Facebook with, “No traffic impact at all,” and since they stopped posting on Facebook, they have been unable to tease out any impact on traffic.

Video below:

Well, This Is a Right Rat-F%$#ing

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In an attempt to sabotage the national popular vote compact, a growing agreement between states to allocate presidential electors on the basis of a national popular vote, the North Dakota Senate has passed a bill making it illegal for the vote totals to be released before the actual electoral college vote.

The theory here is that if North Dakota does not report the vote, there is no popular vote count, and hence, no basis for the national popular vote compact to execute.

My suggestion for the states that have already entered into the vote compact, about 190 EVs so far, is to change the vote compact to reflect the total REPORTED vote.

This means that the state of North Dakota loses representation, but f%$# them with Cheney’s dick:

The North Dakota Senate this week passed a bill which aims to forbid election officials from disclosing how many actual votes are cast for each candidate in upcoming presidential elections. The total tallies would only be disclosed after future Electoral Colleges convene to select an official victor.

The measure, Senate Bill 2271, was introduced by Sen. Robert Erbele, a Republican from Lehr, N.D., who represents a district situated southeast of Bismarck. It would withhold the state’s vote count from the public and allow officials to only reveal the percentage of the total vote each candidate receives.

“[A] public officer, employee, or contractor of this state or of a political subdivision of this state may not release to the public the number of votes cast in the general election for the office of the president of the United States until after the times set by law for the meetings and votes of the presidential electors in all states,” the bill states. “After the votes for presidential electors are canvassed, the secretary of state may release the percentage of statewide votes cast for each set of presidential electors to the nearest hundredth of a percentage point, a list of presidential candidates in order of increasing or decreasing percentage of the vote received by presidential electors selected by the candidates, and the presidential candidate whose electors received the highest percentage of votes.”

………

The bill is designed to prevent implementation of the national popular vote compact – a multi-state agreement aimed at circumventing the Electoral College.

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The national popular vote compact is a nascent agreement amongst a coalition of states which have enacted statutes dictating that their presidential electors only cast votes for the presidential candidate who wins the popular vote across all 50 states and the District of Columbia. The compact—which would effectively neuter the Electoral College—takes effect once the coalition of states involved possess 270 or more electoral votes. According to nationalpopularvote.com, the agreement has been passed into law in 16 states possessing a total 196 Electoral College votes, including New York, California, Illinois, Massachusetts, and New Jersey.

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Appearing on the political podcast Plain Talk, the former chairman of the Michigan Republican Party, Saul Anuzis, said the measure was “almost a politburo situation from Soviet Russia,” referring to the political policymaking committee in the former Soviet Union.

The comments of former chairman of the Michigan GOP lickening this action to the Soviet Politburo is completely unfair though, to the Soviet Politburo.

They were way more respectful of the will of the people than the North Dakota Republican Party.

Honestly, I think that it is time to right a historic wrong, and merge North and South Dakota, who were only created as separate states to create partisan advantage.

Not Surprised, but Amused

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Former French President Nicolas Sarkozy has been found guilty of corruption, and sentenced to prison.

It’s always been clear that he was pond scum, and now he is convicted pond scum:

Former French president Nicolas Sarkozy was found guilty of corruption and influence peddling on Monday and sentenced to one year in prison, marking a historic defeat for the 66-year-old, who has remained popular among conservative voters even as his legal woes mount.

The verdict included a two-year suspended sentence, but Sarkozy’s attorney said her client would appeal, delaying the sentence from taking effect. Given that short prison sentences in France can typically be waived, it is unclear whether Sarkozy would have to spend any time in prison even if the appeal were to fail. He could also request to serve the sentence at home, subject to electronic monitoring.

The ruling followed years of parallel investigations against the former president, and some others are ongoing. Sarkozy, who was president from 2007 to 2012, will face another trial later this month over accusations that his party falsified accounts during his unsuccessful reelection bid in 2012.

The charges over which Sarkozy was sentenced Monday were centered on whether he was behind a deal with a magistrate to illegally receive information on an inquiry linked to him, using false names and unofficial phone lines.

According to the prosecution, Sarkozy and his then-attorney and longtime friend Thierry Herzog attempted to bribe the magistrate, Gilbert Azibert, by offering him a high-profile position in return for information. The incident occurred after Sarkozy had left office.

The inquiry related to claims that Sarkozy and others had accepted illegal contributions from business executive Liliane Bettencourt, the late heiress of French cosmetics giant L’Oréal, ahead of the 2007 presidential campaign. Sarkozy was later cleared of those illegal-funding charges.

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Sarkozy is the second former French president in a decade to be sentenced. Jacques Chirac, Sarkozy’s predecessor and initial patron, was given a two-year suspended sentence in 2011 for handing nonexistent jobs to political allies during his time as Paris mayor. 

It comes as no surprise that the Gaullists are rife with corruption.