As Bitcoin prices rise, so will the incentive to mine it, creating a feedback loop that spells trouble for the climate.
For advocates of cryptocurrency, the promise of an economic future that is managed by a blockchain (a decentralized database that is shared among the nodes of a computer network, as opposed to being held in a single location, such as a central bank) is compelling. For anyone paying attention, the rapid expansion of cryptocurrency has been stunning. In 2019, the global cryptocurrency market was approximately $793 million. It’s now expected to reach nearly $5.2 billion by 2026, according to a report by the market research organization Facts and Factors. In just one year—between July 2020 and June 2021—the global adoption of cryptocurrency surged by more than 880 percent. Continue reading
"The filibuster is a meaningless Senate rule. It's a remnant of slavery used to block civil rights for generations."
On what would have been Martin Luther King Jr.’s 93rd birthday, voting rights advocates and progressive lawmakers rallied in Arizona on Saturday to target the first-term Democratic senator blocking legislation aimed at strengthening ballot access amid growing GOP-led suppression efforts. Continue reading
Of the misogynist myths propagated to the children, none is more damning than the legend of Eve’s act in the Garden of Eden. For this, the folklore tells us, she, together with all females, was condemned by god to forever bear children in pain and suffering. From such myths, generations are raised to believe that within the female gender lies malevolence. Continue reading
U.S. Secretary of State Antony Blinken and other members of the Biden Cabinet are fond of proclaiming the “rules-based international order” (RBIO) or “rules-based order” every chance they get: in press conferences, on interviews, in articles, at international fora, for breakfast, lunch, dinner, and cocktails. Along with the terms “human rights” and “democracy,” the RBIO is routinely used to claim a moral high ground against countries that they accuse of not following this RBIO, and wielded as a cudgel to attack, criticize, accuse, and delegitimate countries in their crosshairs as rogue outliers to an international order. Continue reading
WASHINGTON—Recalling the 1930s, when the “Nine Old Men” scrapped key New Deal legislation, the GOP-named U.S. Supreme Court majority may again show its implementation of the right-wing pro-corporate agenda, this time by nullifying OSHA’s anti-coronavirus Emergency Temporary Standard. Continue reading
"We're old enough to remember a whole month ago when both Kyrsten Sinema and Joe Manchin voted to make an exception to the filibuster for the debt ceiling," Public Citizen sardonically noted.
As conservative U.S. Sen. Joe Manchin on Thursday joined his right-wing Democratic colleague Kyrsten Sinema in announcing his opposition to abolishing the Senate filibuster, progressive observers excoriated the pair—who recently supported a filibuster carve-out to raise the debt ceiling—for obstructing their party’s landmark voting rights legislation. Continue reading
Developments in two swing states showcase how election records can be used to debunk disinformation and provide more transparency of vote counts.
As ongoing threats by Trump loyalists to subvert elections have dominated the political news, other Republicans in two key states—Florida and Arizona—are taking what could be important steps to provide voters with unprecedented evidence of who won their most close and controversial elections. Continue reading
An article by Gideon Rachman in the Financial Times last July is a prime example of Western intelligentsia’s limited understanding of China’s unhindered rise as a superpower. “Becoming a superpower is a complicated business. It poses a series of connected questions about capabilities, intentions and will,” Rachman wrote. Continue reading
WASHINGTON—One year after the deadly Trump coup attempt, President Joe Biden stood at the U.S. Capitol last Thursday morning and indicted the former White House occupant and his supporters in the Republican Party as part of an ongoing conspiracy against democracy. Continue reading
A bizarre event took place in northern India between December 17 and December 19, 2021. It was a “religious parliament” (Dharma Sansad) with the theme, “The Future of the Sanatan Dharma in Islamic India: Problem and Solutions.” The event took place in Haridwar, a city in the Indian state of Uttarakhand. The speakers—each of them dressed in saffron robes, which are usually worn by Hindu monks—took to the stage during the Dharma Sansad and spoke in a startlingly dangerous and provocative fashion. Sadhvi Annapurna, the general secretary of the Hindu Mahasabha, a right-wing Hindu nationalist outfit in India, was the most forthright in spelling out the agenda of hatred against the Muslim community that marked the tone for this event. “Nothing is possible without weapons,” she said. “If you want to eliminate their [the Muslim] population, then we are ready to kill them.” Continue reading
Poll after poll indicates very deep political divisions among Americans, with indications that such divisions are deepening, and even widening as a consequence of the pandemic. Indeed, according to the most recent NPR/Ipsos poll, seven in ten Americans believe the country is in crisis and is at risk of failing. Continue reading
"It is unconscionable," said one advocate welcoming the announcement, "for Medicare premiums to increase this dramatically because of one corporation's greed."
As the head of the U.S. Department of Health and Human Services announced Monday that he was ordering a review of a planned 15% hike in the Medicare Part B premium for 2022, healthcare reform advocates stressed the need for Congress to pass a Build Back Better bill with a provision allowing the federal government to negotiate the price of prescription drugs. Continue reading
At the outset, the Israeli military decision to revise its open-fire policies in the occupied West Bank seems puzzling. What would be the logic of giving Israeli soldiers the space to shoot more Palestinians when existing army manuals had already granted them near-total immunity and little legal accountability? Continue reading
In addition to not being able to take a joke (thanks to the woke times: see “microagression”) most people cannot tell a joke. Halfway through the joke they get stage fright and panic that maybe it’s not even funny or that they’ll forget the punch line, wasting people’s time. Continue reading
The German mega-publisher Axel Springer SE said that in purchasing Politico and Politico Europe last year and Business Insider (now Insider) in 2015, its end goal was to become the leading digital publisher of the “democratic world.” There is only one major problem with that goal. Axel Springer is a media cipher for right-wing politics, not only in Germany, but in other nations where its media tentacles extend. Continue reading
The Fed has options for countering the record inflation the U.S. is facing that are more productive and less risky than raising interest rates.
The Federal Reserve is caught between a rock and a hard place. Inflation grew by 6.8% in November, the fastest in 40 years, a trend the Fed has now acknowledged is not “transitory.” The conventional theory is that inflation is due to too much money chasing too few goods, so the Fed is under heavy pressure to “tighten” or shrink the money supply. Its conventional tools for this purpose are to reduce asset purchases and raise interest rates. But corporate debt has risen by $1.3 trillion just since early 2020; so if the Fed raises rates, a massive wave of defaults is likely to result. According to financial advisor Graham Summers in an article titled “The Fed Is About to Start Playing with Matches Next to a $30 Trillion Debt Bomb,” the stock market could collapse by as much as 50%. Continue reading
Friday’s jobs report from the Department of Labor was a warning sign about the US economy. It should cause widespread concern about the Fed’s plans to raise interest rates to control inflation. And it should cause policymakers to rethink ending government supports such as extended unemployment insurance and the child tax credit. These will soon be needed to keep millions of families afloat. Continue reading
The Founders of this nation, and the Framers who wrote our Constitution, created (as Ben Franklin famously said) a constitutional republic: a government “deriving its just powers from the consent of the governed” through citizens’ (then white men) right to vote. Continue reading