The Daily Parker

By "this," I don't mean the Covid-19 outbreak itself, though by cutting CDC pandemic funding 80%, ending epidemic prevention aid to 37 of 47 countries, or by appointing perhaps the worst possible administration official to lead the response effort, he has almost certainly increased the risk of infection to every person in the world.

No, I mean that we're dangerously unprepared for the recession the virus outbreak appears to be encouraging.

Economists have had a hunch we'd eventually get the stock-market correction we got this week, because we had ample evidence that stock values were not in line with fundamentals. However, the S&P 500 losing 10% in one week, wiping out more than a year of gains, has been the fastest correction in history, according to Bloomberg News. And at this writing the indices are still falling.

But the Republican Party passed massive tax cuts two years running, which has resulted in Federal budget deficits exceeding $1 trillion. Now many people are about to find out why a massive deficit in a strong economy reduces our options when the economy slows down.

In a strong economy, people feel wealthy, so they spend more money. We all know that. But people also have a higher tolerance for taxes when they feel rich. In individual states in the US that have constitutional balanced-budget requirements, boom times allow them to save money. In the US writ large, which has no such restrictions, boom times allow us to make investments in infrastructure, education, social programs, and all manner of things we have as a country failed to invest in for years.

Not so coincidentally, the years in which we've failed to invest are the same as the years the Republican Party has preached lower taxes, cutting social benefits, and getting the government so small "you can drown it in the bathtub." The goal is to consolidate wealth in a small minority that can then exert disproportionate control over an ever-more-impoverished majority. As I've said for 30 years, the Republican Party doesn't want to govern; they want to rule. And it's easier to rule peasants than burghers.

The last two years under Trump have made previous Republican wealth grabs look gentle. And they almost got away with it, too. They've kept the economy going just strongly enough, preventing the inevitable slowdown after 10 years of Obama-led growth, to make people feel good about the next election. If only they could have made it to November. Four more years of Trump would, they hoped and planned, allow them to lock in Republican policies for 40 more years.

Walking from the train this morning, I realized the Trump administration has acted like a cocaine addict regarding the economy. They forced lower taxes through Congress (or blocked raising them) since the last years of Obama, then came out of the bathroom with powder on their noses crowing about how low taxes have helped the economy.

At the first signs of a slowdown in 2018 and 2019, they did a couple more bumps to make it last longer, just a little longer. But the crash is upon us, and like a cokehead, it's going to be much worse because it's been too good too long.

So here we are. We've lost hundreds of billions in paper wealth this week, we've got the Spanish Flu exploding all over the world, people are scared, and the front-runners in both parties represent the extremes. A really good recession right now will go a long way to helping the kids understand, on a personal and visceral level, why we don't want extremists in power.

And because of our massive deficits, it will be hard to summon the political will to continue those deficits and start necessary spending efforts to keep people employed and the economy from screeching to a halt. The only arrows we have left in our quiver include printing more money or raising taxes in a recession, both of which will increase inflation, wipe out more paper wealth (but of debt holders, not of debtors, which is the point), and possibly make the retirements of Boomers more uncomfortable than their grandparents had it in the Depression. (Oh, and we Xers will get screwed regardless, but that's been the case our whole lives.)

You think we're smarter than Europe in the 1930s? We're about to really find out.

Some highlights:

• The Union of Concerned Scientists report that ride-hailing causes 69% more pollution than the services it displaces.
• Republican columnist Michael Gerson believes a Trump-Sanders matchup in November would "destroy our politics."
• Jeffrey Toobin explores the problems with Trump's pardons.
• Newly declassified documents make it clear that the NSA hoovering up phone metadata didn't accomplish anything, really.
• Medium tells the story of a $100m company that abruptly ceased operations last fall.
• Indiana isn't really a better place to do business than Illinois, it turns out.
• The planet caught a small moonlet about three years ago, and it's still orbiting us.

Finally, looking at dating like a marketplace doesn't make a lot of sense in practice.

Via reader ML, the Royal Canadian Mounted Police have stepped in it over protests on First Nations land in northern British Columbia:

Canadian federal police had “no legal authority” to make ID checks and searches on activists seeking to block a pipeline project on Indigenous territory, according to newly released correspondence from the force’s oversight body.

The nine-page letter written by Michelaine Lahaie, chair of the Civilian Review and Complaints Commission for the RCMP, offers scathing criticism of the police’s continued use of tactics against Indigenous people which she had previously warned against.

In recent weeks, demonstrations have sprung up across the country, blockading major railway lines and obstructing access to ports and government buildings.

On Thursday, Canada’s largest rail operator, CN Rail, obtained a court injunction giving it permission to remove a blockade in St-Lambert, a suburb of Montreal.

Al Jezeera has an overview of the issues:

Wet'suwet'en hereditary chiefs, who hold authority over their land, say they were not properly consulted on the 670km (416-mile) Coastal GasLink pipeline. The company says it reached agreements with 20 elected First Nations band councils. In December, the BC Supreme Court granted Coastal GasLink an injunction to continue work on the pipeline. 

Following the arrests of Wet'suwet'en land defenders about two weeks ago, tensions have mounted as solidarity actions have grown across the country, with many calling on Prime Minister Justin Trudeau to solve the crisis.

"This is not a new resistance," said [lawyer Sylvia] McAdam, one of the founders of Idle No More, a movement born in 2012 in response to parliamentary bills that threatened Indigenous sovereignty and environmental protections.

"I think today we're reaching a boiling point where Indigenous people are so tired of the racism, they're tired of colonisation, they're tired of protecting and defending (rights and land)," she told Al Jazeera.

McAdam said Canada needs to reckon with its past and pay the debts it owes First Nations.

I'll be checking back on this story as it unfolds.

Did someone get trapped in a closed time loop on Sunday? Did I? Because this week just brought all kinds of insanity:

• Video emerged of the President acting like a teenager on too much Dr Pepper during the national anthem on Super Bowl Sunday.
• Margaret Sullivan's headline this morning: "Social media was a cesspool of toxic Iowa conspiracy theories last night. It’s only going to get worse." Yup.
• Illinois Governor J.B. Pritzker Tweeted that Illinois should lead off the next primary election cycle because we look more like America than any other state. (He's not wrong.)
• Paul Krugman once again points out that the Republican Party lost the fight against "zombie ideas."
• Artist Simon Weckert dragged 99 mobile phones around Berlin in a wagon to cause Google Maps to display fake traffic jams.
• Starting April 30th, you can get from London to Amsterdam in a little over 4 hours on the Eurostar, thanks to a new UK pre-clearance kiosk at Centraal Station. (Note that traveling from central London to central Amsterdam by airplane could take a lot longer, given travel to Heathrow, from Schiphol, and the usual aviation delays at both airports.)

Well, one of those is good news...

At midnight Central European Time about five hours from now (23:00 UTC), the United Kingdom will no longer be a European Union member state.

It will take years to learn whether the bare-majority of voters in the UK who wanted this were right or wrong. My guess: a bit of both, but more wrong than right.

It will also take years to fully understand why the developed world collectively decided to throw out the institutions that brought us the longest period of peace and economic growth in the history of the planet.

It might be like how an airplane actually flies. Until recently, people understood the Bernoulli effect as the mechanism for lift. New research (sub. req.) suggests that lift actually has four different components that work together to keep 200-tonne airplanes airborne.

Increasing wealth inequality, the apex of political power for the Baby Boomer generation (possibly the most selfish and whiny generation in American history), psychological warfare of unprecedented sophistication designed specifically to fracture Western politics...they all go together. And those of us who believe that democratic, liberal government is the best force for making the world a better place despair a little more every day.

Not that anyone was surprised, though many I'm sure were disappointed:

A handful of marijuana dispensaries around Illinois halted recreational weed sales over the weekend and plan to remain closed to the public for part of the week as they deal with product shortages.

Legal weed sales kicked off in Illinois on Wednesday, and customers spent almost $3.2 million at dispensaries that first day. It marked one of the strongest showings of any state in the history of pot legalization. Second day sales reached nearly $2.3 million, the state said.

Dispensary operators say long lines continued to form even after the first day. Over the weekend, certain dispensaries stopped selling recreational product. And for many of them, it is uncertain when they will start again.

Given the availability of marijuana in modern America through, ah, bespoke retail services, why the run on dispensaries? Novelty?

Article the first: Stocks have continued going up relentlessly even though producer prices are also up, exports are way down, and wages have stagnated. This means, essentially, our economy is rent-seeking and not producing.

Article the second: President Trump's tariffs have hurt agriculture and commodities, caused job losses, and hit the most vulnerable people in Trump Country. They haven't helped the economy at all. Question: bugs or features?

Article the third: Michiko Katutani draws direct parallels between the "end of normal" of the 2010s and Richard Hofstadter's "paranoid style."

Article the fourth: The 2010s also had good-looking celebrities pushing (almost literal) snake oil on us, and people bought it up wholesale. Actors and other Dunning-Krueger sufferers made billions on imaginary health and wellness products that helped neither health nor wellness.

So as we go into the bottom of the 10s, this is America today. Can't wait to see the '20s on Wednesday when it's all better.

Paris has essentially shut down for the past 12 days as transport unions protest pension reform:

Au onzième jour de mobilisation contre la réforme des retraites, le trafic restait fortement perturbé dans les transports publics, dimanche 15 décembre. A Paris, le trafic des métros était particulièrement compliqué, avec quatorze lignes complètement fermées.

Dans le métro parisien, les lignes automatiques 1 et 14 fonctionnaient normalement, avec un risque de saturation, de même que les lignes Orlyval, RoissyBus (deux bus sur trois) et OrlyBus (quatre bus sur cinq), qui desservent les aéroports. En revanche, les lignes 2, 3 bis, 3, 4, 5, 6, 7, 7 bis, 8, 9, 10, 11, 12 et 13 sont totalement fermées.

Translation: Most of the Metro is closed, most trains aren't running, most buses aren't running, and Paris can barely function.

NPR's Paris-based Eleanor Beardsley has a first-person account on today's Weekend Edition Sunday.

Why is this happening? Here is the Times:

While France’s official retirement age may be 62, the actual age varies widely across the country’s labyrinthine system. Train drivers can retire at 52, public electric and gas workers at 57, and members of the national ballet, who start dancing at a very young age, as early as age 42. That is to name just a few of the stark differences.

It is this sheer complexity that [French President Emmanuel] Macron has vowed to untangle, aiming to standardize 42 different public and private pension schemes into one state-managed plan.

The system is staring at a potential deficit of 19 billion euros by 2025 if no action is taken, according to a landmark report issued by France’s pension czar, Jean-Paul Delevoye.

So Mr. Macron says he wants to merge the disparate systems, public and private, into one state-managed system by 2025.

He also wants to keep the deficit from growing, which Patrick Artus, chief economist of Paris-based Natixis bank, said could be achieved if every worker works at least another six months before retiring.

France isn't the US or the UK, and French unions have tremendous power that unions in the Anglo-American world never had. But years of strikes in the UK during the 1970s drove British voters to Margaret Thatcher's Conservative party and the heavy-handed anti-labour policies she enacted.

I don't think France will ever see that kind of anti-union governance. But I do suggest that perhaps this tantrum needs to end so that the government and the unions can work to fix the structural problems that everyone knows exist.

Two articles came out today about dogs. The first, in the New York Times, explores how dogs became so indiscriminately friendly:

In the early 2000s, when Dr. [Clive] Wynne began research on dogs, one of his experiments was a follow-up on the work of Dr. [Brian] Hare who had concluded that dogs were better than wolves or other animals at following human directions. In particular, dogs followed human pointing better than other animals. Dr. Wynne and Monique Udell, an animal behaviorist at Oregon State University, expected to confirm Dr. Hare’s findings.

The wolves they chose to work with were hand-raised and socialized at Wolf Park, in Lafayette, Ind. Dr. Wynne said he found the wolves were as good at following human pointing as the best pet dogs.

Dr. Hare and his colleagues responded by questioning whether the experiments were really comparable, maintaining that dogs have an innate ability to follow human pointing without the special attention the wolves were given. The debate continues.

The second part of Dr. Wynne’s argument has to do with how social dogs are. There is no question that they bond with people in a way that other canines do not. Dr. Wynne recounted an experiment showing that as long as puppies spend 90 minutes a day, for one week, with a human any time before they are 14 weeks old, they will become socialized and comfortable with humans.

The Washington Post reported on economics research that put the economic value of a dog at about $10,000:

For the study, the authors asked nearly 5,000 dog owners about their willingness to pay for a hypothetical vaccine that would reduce their dog’s risk of death from a particular canine virus from 12 percent to 2 percent in a given year.

Rather than simply ask, “How much would you be willing to pay” for such a vaccine, respondents were given specific price points, ranging from $5 to $3,000, and asked if they whether they would be willing to pay that amount.

The end result: a distribution of nearly 5,000 responses that allowed the researchers to identify an average acceptable price point of somewhere between $500 and $900. That’s the cost, in other words, of a 10 percentage point mortality reduction for a dog.

The study's authors intended the $10,000 figure as an approximation. I can tell you, however, that in the year from April 2018 to March 2019, my dog cost considerably more than $10,000. (I'll have the exact figure this weekend.)

Let's see, where to begin?

• The UK House of Lords today agreed to progress the Benn Bill, clearing the way for it to go to the Queen as early as Monday.
• Boris Johnson's brother resigned from Parliament citing a conflict between family and country.
• Yascha Mounk calls Johnson's prorogation of Parliament "the most dangerous assault on Britain's institutions in living memory."
• Political scientist Will Jennings tries to find the Brexit option most palatable to the "median voter."
• Sterling rose to a 3-week high, $1.2319, as traders breathed a sigh of relief that Brexit may be delayed.
• In the same magazine, James Fallows points out that the Fall of Rome "wasn't that bad."
• A Federal employee has come forward with "credible allegations" of misconduct in the annual, legally-mandated federal tax audits of the President and Vice President.
• Bruce Schneier calls out a company called Crown Sterling for being "complete and utter snake oil."

Finally, RawStory has a collection of responses to the President's Sharpie-altered weather map. (This is not, however, the first time the Administration has tried to make one of its Dear Leader's errors be true.) Enjoy.