technocrit

In the wake of a measles outbreak in Canada that has infected thousands of people over the past year, an international health agency revoked the country’s measles-free status on Nov. 10, 2025.

Let’s first turn to the obvious negatives. The Trump idea is an admission that he and pretty much everyone are unserious about addressing the housing unaffordability problem because too many powerful players benefit from it. The most obvious remedy is to build more middle/lower middle class residences in high cost areas. But right away, that runs hard into NIMBYism: all those well off with their tony houses don’t want the servant classes or even dull normals living nearby and possibly harming their property prices.

... the popular freely-refinancable (as in no prepayment penalty) 30 year fixed rate mortgage is a very unnatural product and is found in comparatively few advanced. economies. On paper, it puts the interest rate risk on the lender. If rates drop, borrowers refinance, taking the loan away from creditors just when taking the risk of longer-dated loans is paying off. There are many ways to better share the interest rate risk, such as barring refis for the first five to seven years of a mortgage, or having interest rates float subject to a floor and ceiling. I had that sort of product in the early 1980s and was very happy with it. You can pencil out what your worst-case mortgage costs might be and benefit with no expenditure of effort if interest rates fall.

So why is this supposedly borrower-favoring feature, of the “freely refinancable” fixed rate mortgage, actually not good for borrowers? Because that option is NOT free! Not only do borrowers pay fees when they refinanace, but lenders have succeeded in structuring refis so that roughly 2/3 of the economic benefit of the refi is captured by financiers, not by the homeowner.

A related bad feature of the refinancable 30 year mortgage is that it increases systemic risk. Mortgage guarantors Fannie and Freddie have to hedge the refi risk. That hedging is pro-cyclical on a systemically disrupting scale.

...

50 year mortgages, compared to a 30 year obligation have more of their payments over their life in interest. That means in a refi more total interest savings. That means even more in fee extraction by middlemen! More critically, it also means much greater pro-cyclical hedging action, and thus an even bigger increase in systemic risk, assuming that there actually was consumer receptivity to this bad idea...

The Democratic leadership doesn’t want to get rid of the filibuster for the same reason the Republican leadership doesn’t want to get rid of it: The filibuster allows the leadership of both parties to keep their radical flanks at bay. Chuck Schumer needs the filibuster to protect himself from the Bernie Sanders wing in the Senate and the Alexandria Ocasio-Cortez (AOC) wing in the House: if you can’t get to sixty, Bernie and AOC, we have to follow the lead of Joe Manchin and Kyrsten Sinema. Same goes for John Thune to whoever inhabits the radical role at any given moment in the GOP.

...

For Trump, swap in Trump’s most rabid allies and foot soldiers in the Senate and the House — or Schumer’s and Hakeem Jeffries’s enemies in the Senate and the House — and you get a pretty clear sense of why the leaderships of both parties need the filibuster: It checks anyone who “defies party orthodoxy,” while providing “an excuse to avoid doing things.”

The “State of Climate Action 2025” report from the World Resources Institute found that the world’s governments are failing on all 45 indicators of progress towards limiting global heating to 1.5 degrees. Of these, 29 indicators are “well off track”, meaning at least a twofold and for most a fourfold acceleration of progress is needed to meet end-of-decade targets.

Five indicators—the carbon intensity of steel production, the share of kilometres travelled by passenger cars, mangrove loss, share of food production lost, and public fossil fuel finance—are heading in the wrong direction.

There is not even enough data to analyse the trend for the remaining five: the rate of retrofitting buildings, the share of new buildings which are zero-carbon, peatland degradation, peatland restoration and food waste.

These divisions on the right may be pitting one loathsome crew of racist reactionaries against another, but it is extremely novel to see the American Republican party and broader right wing tearing itself apart over whether or not to put Israel first.

Zohran Mamdani’s campaign represented a struggle for basic dignity and an affirmation of democratic potential. It was ceaselessly denounced by political and media elites from across the spectrum as something sinister, violent, and dangerous.

The 2028 Olympics are coming to Los Angeles as a multi-billion dollar operation funded by massive private and federal government investments and backed by city and state pledges to cover cost overruns.

The current privately funded budget for the Games is more than $7 billion. The federal government has agreed to chip in $1 billion to pay for security and is being asked to contribute another $2 billion to pay for Games-specific transit plans.

But the city of L.A.'s financial exposure is essentially unlimited. The city is on the hook for the first $270 million in losses, if they occur. The California Legislature has agreed to make statewide taxpayers pick up the next $270 million. After that, any additional financial burden will fall on Los Angeles taxpayers.

From censoring a report on CIA domestic surveillance to running cover for the Contra War to helping launch the war on terror, Dick Cheney dedicated his life to making sure the US national security state could kill, spy, and torture with few checks.

As US media try to whitewash his legacy in death, the world continues to grapple with the horrors he helped unleash.

Dick Cheney is dead. The American people will now be subjected to the predictable deluge of tributes for the former vice president from the political establishment and the corporate media. Every effort will be made to sanitize the record of a war criminal and enemy of democratic rights who helped paved the way for the dictatorial actions of Donald Trump.

No one should be taken in by the official whitewashing of the blood on Cheney’s hands. He was a man who personified the greed and ruthlessness of the American capitalist elite, serving as White House chief of staff, secretary of defense, CEO of the giant oilfield services company Halliburton and then vice president for George W. Bush where he acted as the power behind the throne. Cheney played leading roles in three major imperialist wars, against Iraq in 1990-91, Afghanistan from 2001 on and Iraq again from 2003 on. The death toll in these wars alone comes to several million, to say nothing of “lesser” conflicts, such as the 1989 US invasion of Panama and the 1992 intervention in Somalia.

Andrew Cuomo, an elderly has-been, the lesser son of a greater sire, who as governor literally conspired with Republicans to hand them control of the New York state Senate for half a decade; who resigned from office in disgrace after he was credibly accused of 13 instances of sexual harassment; and whose campaign quite obviously had no purpose other than satisfying his own lust for accumulating personal power, along with that of his billionaire donors.

As the campaign progressed and Mamdani’s victory became ever more likely, Cuomo descended into vindictive gutter racism. He did not disagree with a right-wing radio host who said that Mamdani would be “cheering” another 9/11, suggested that Mamdani would have Muslim women “completely covered up,” and that he “doesn’t understand New York culture” because he’s a “citizen of Uganda.”

Cuomo happily took Donald Trump’s endorsement and went on Fox News to tout it. His closing campaign message, as The Nation’s Jeet Heer pointed out on Bluesky, smacked of Vidkun Quisling—implicitly threatening New Yorkers with a Trumpian occupation if they voted for anyone but Cuomo.

It was disgusting stuff. But it also was palpably desperate, and coming from one of the worst candidates imaginable...

...

What we see, I think, are a bunch of rich guys who have been comically out of touch with normal people for many decades, and more recently have blowtorched their brains into a smoking pile of ash on Elon Musk’s Twitter/X and in various group chats. It’s why they got so worked up about Mamdani in the first place—the New York City mayoralty is not some omnipotent office, and there are a dozen ways to hem it in at the state and local level if they so wished. What these oligarchs spent to stop Mamdani feels like less on an annual basis than he wants them to pay for a better future for all New Yorkers, a joke Mamdani himself has made.

In any case, his slight tax increase on rich people, free buses, and city-run grocery stores are pretty far from a communist revolution. But that’s not how it appears to rich people, surrounded on all sides by yes-men and toadies, who spend several hours a day marinating in an online Nazi sewer.

Photos captured by Mobile Fortify will be stored for 15 years, regardless of immigration or citizenship status, the document says.