Quotulatiousness

October 15, 2019

The Fed as Lender of Last Resort

Filed under: Economics, USA — Tags: , , — Nicholas @ 02:00

Marginal Revolution University
Published on 1 Aug 2017

If you heard a rumor that your bank was insolvent (in other words, it had more liabilities than assets), what would you do?

A typical reaction is to panic. What if you can’t get your money out? Your next step would likely be to try and get all of your cash in hand.

The rumor could even be false, but if enough people responded as if it were true, it would still spell trouble. Even solvent banks can have illiquid assets. If the bank can’t pay out to its depositors, the panic can spread.

This is where the Federal Reserve System comes into play. The Federal Deposit Insurance Corporation (FDIC) insures deposit accounts. And, if the insurance isn’t enough or the financial institution isn’t covered, the Fed can act as the “lender of last resort” – it can loan enough money to a bank to cover customers who want their cash.

Why does this happen? Well, panics can be a threat to the entire banking system. If one financial institution falls, even if it is insolvent, it can have a domino effect.

If you think through very recent U.S. history, you’ll quickly come up with some examples of the Fed intervening. During the 2008 financial crisis, the Fed, along with U.S. Treasury and FDIC, stepped in to “bail out” insolvent U.S. financial institutions to minimize systemic risk.

But what happens when you know that the government will clean up the mess if you make risky investments? This is certainly a big problem facing the Fed. We’ll discuss the consequences in detail in this video.

QotD: Over-protected children become insecure adults

Kids need conflict, insult, exclusion – they need to experience these things thousands of times when they’re young in order to develop into psychologically mature adults. Every adult has to learn to handle these things and not get upset, especially by minor instances. But in the name of protecting our children we have deprived them of the unsupervised time they need to learn how to navigate conflict among themselves. That is one of the main reasons why kids and even college students today find words, ideas and social situations more intolerable than those same words, ideas and situations would have been for previous generations of students.

Jonathan Haidt, quoted by Naomi Firsht, “The Fragile Generation”, Spiked, 2017-08-31.

October 13, 2019

Sesame Street finally gets real

Filed under: Media, USA — Tags: , — Nicholas @ 05:00

I think we can all agree that the problem with children’s TV is that it’s not gritty and realistic enough for the children of today. Well, the situation is being addressed by those brave folks who produce Sesame Street:

Sesame Street has introduced Karli, a puppet whose mother is addicted to opioids. I applaud them. For too long, children’s shows have been bright, happy, colourful and filled with problems that can be easily resolved. It’s time we saw the alleys and overflowing gutters behind the buildings of Sesame Street — the suicides, prostitution and addictions that run rampant after the sun sets. It’s time children learned about real life. It’s time children learned about flesh-eating diseases, absent fathers, and the unforgiving cycle of life. That their heroes are frauds and everyone dies, including their favourite pets and all their hopes and dreams.

It’s time children learn why people are drawn to heroin in the first place. That life can be so crushing and hopeless that the only other answer is death. It is time children learn that although on the outside the heroin addict may look sick, miserable, terrifying and disgusting, inside they feel better than you will ever know. That the feeling is so good inside, the addict forgets about the vessel and the outer part of the body slowly begins to slip away. From the outside it is hard to watch a heroin addict slowly deteriorate, and even harder to imagine how someone could let themselves fall into that state. But inside they feel perfect. Religion, spirituality, and gurus have often spoken of finding inner peace and joy, and there is no peace within as perfect as the high of heroin.

It is a feeling so good it makes parents neglect their children, as in Karli’s case. A feeling so good the user forgets everything — everything bad, and everything good. It is better than the feeling of accomplishing goals, of success or love. It is perfect — that is until it fades away. So, you chase that perfect feeling for the rest of your life, getting close, but never quite attaining it again. You chase forward, day after day, as everything around you slowly slips away, your youth, your family, your hopes and your dreams.

October 12, 2019

“Midway” – The Battle of Midway – Sabaton History 036 [Official]

Filed under: History, Japan, Media, Military, USA, WW2 — Tags: , , , , — Nicholas @ 05:00

Sabaton History
Published 11 Oct 2019

The Battle of Midway in June 1942 was one of the decisive battles on the Pacific front during World War Two. The Sabaton song “Midway” is about that battle and the men who sailed, flew, fought and died there.

Support Sabaton History on Patreon: https://www.patreon.com/sabatonhistory

Listen to Coat of Arms (where “Midway” is featured):
CD: http://bit.ly/CoatOfArmsStore
Spotify: http://bit.ly/CoatOfArmsSpotify
Apple Music: http://bit.ly/CoatOfArmsAppleMusic
iTunes: http://bit.ly/CoatOfArmsiTunes
Amazon: http://bit.ly/CoatOfArmsAmzn
Google Play: http://bit.ly/CoatOfArmsGooglePlay

Watch the Official Lyric Video of Midway here: https://www.youtube.com/watch?v=0WAfB…

Listen to Sabaton on Spotify: http://smarturl.it/SabatonSpotify
Official Sabaton Merchandise Shop: http://bit.ly/SabatonOfficialShop

Hosted by: Indy Neidell
Written by: Markus Linke and Indy Neidell
Directed by: Astrid Deinhard and Wieke Kapteijns
Produced by: Pär Sundström, Astrid Deinhard and Spartacus Olsson
Creative Producer: Joram Appel
Executive Producers: Pär Sundström, Joakim Broden, Tomas Sunmo, Indy Neidell, Astrid Deinhard, and Spartacus Olsson
Maps by: Eastory
Edited by: Iryna Dulka
Sound Editing by: Marek Kaminski

Eastory YouTube Channel: https://www.youtube.com/channel/UCEly…
Archive by: Reuters/Screenocean https://www.screenocean.com
Music by Sabaton.

Sources:
National Security Agency
Letter icon by Mochammad Kafi from the Noun Project
Ship icon by Edward Boatman from the Noun Project

An OnLion Entertainment GmbH and Raging Beaver Publishing AB co-Production.

© Raging Beaver Publishing AB, 2019 – all rights reserved.

⚜ | Survivor Bias in World War 2

Filed under: History, Military, Technology, USA, WW2 — Tags: , — Nicholas @ 02:00

Military Aviation History
Published on 31 Aug 2017

Survivor Bias was a thing in World War 2. Let’s learn what happened.

– You can support my Channel with Patreon: https://www.patreon.com/Bismarck

⚜ Support My Work ⚜
– You can support my Channel with a donation [Paypal]: https://www.paypal.me/BismarckYT

⚜ Find Me On Social Media ⚜
– Twitch: http://www.twitch.tv/bis18marck70
– Twitter: https://twitter.com/Bis18marck70

⚜ Sources ⚜
M. Mangel, F. J. Samaniego, Abraham Wald’s Work on Aircraft Survivability

Abraham Wald, A Reprint of “A Method of Estimating Plane Vulnerability Based on Damage of Survivors”

From the comments:

Military Aviation History
2 years ago (edited)
Hey all, I hope that you like this video. Small correction from my side at 05:00 – It was reprinted in 1980 not 1918. I misspoke. Obviously.

This video was actually planned for the end of September but since I had the script already, I decided to publish it now. As mentioned to my Patreons some days ago, I have a few unexpected home visists to make. The first set was last week and after returning two days ago, I flew off to yesterday for another week abroad. As such it made sense to get such a familiar topic out now since otherwise, there would be nothing.

It should be mentioned that I did not find the “original” study Wald responded to. Either it got lost, or it was never published. Perhaps Wald saw them work on it, saw the errors and published his paper leading the other group to abandon their project. However, there is also a slight chance that over the years parts of the story were exaggerated. Wald certainly published his papers (you’ll easily find it on the internet) and was given the credit for helping US designers — but what of that inital research group? What were their conclusions, their recommendations beyond what is usually linked to Wald? Without their study, no one seems to know.

October 11, 2019

The National Basketball Appeasement Association

Colby Cosh discusses the moral squalor, cowardice, avarice, and reflex appeasement gesturing of the NBA and finds a Canadian angle to the whole mess:

The National Basketball Association has spent the week trying to control the effects of a tweet by Daryl Morey, general manager of the Houston Rockets, who jeopardized his job on Friday when he told readers “Fight for freedom, stand with Hong Kong.” The tweet winked out of existence quickly, but it had prodded a sore spot. Morey faced immediate criticism from the Rockets’ owner and from the Chinese consul in Houston. Steps were taken within China to declare the Rockets personae non gratae and to cancel some NBA broadcasts.

[…]

Which leads to us to the true Canadian angle, copyright Colby J. Cosh 2019 (all rights reserved). Daryl Morey’s tweet was the 21st century’s “Vive le Quebec libre.”

All right, Morey isn’t a statesman, as de Gaulle was — but the NBA itself wants us to believe that it is a force for international harmony, and Morey is a prominent figure in the NBA. There is an amusing subplot here in that Morey has traditionally been regarded as an outsider in the league, a computer nerd who barged his way in by using technical analytics to improve team performance both on the court and at the gate. The natural assumption of a person who went to university in the 1990s is that he would be perfectly free as a matter of course to blurt out a political opinion — one that is in no way remotely controversial in the free world — on Twitter. Well, we are all learning to revise such assumptions.

When General de Gaulle uttered the 1967 version of an ill-advised, impulsive tweet, it created a small spasm of anger in English Canada, as Morey’s endorsement of an increasingly separatist protest movement in Hong Kong has. (Chinese sovereignty in Hong Kong is supposed to be as much an accepted fact as Canadian sovereignty in Quebec, and from the Party point of view, the Hong Kong protests are internal civil disorder. The same, of course, would go for China’s re-education camps full of Uyghurs, who represent the fate that pro-democracy Hong Kongers are trying to avert.)

But it was the Canadian political establishment that de Gaulle really provoked to rage with his sly, ambivalent remark. It was seen as an offence against hospitality. Canada’s mandarins — pardon the inadvertent pun — knew that de Gaulle’s resounding “liiibre” would give, above all, moral impetus to the enemies of Confederation. This proved to be the case, as far as history can tell. Et donc — vive Hong Kong! Vive Hong Kong libre!

Bethlehem Steel 37mm Cannon – WWI Era

Filed under: France, History, Military, USA, Weapons, WW1 — Tags: , , — Nicholas @ 02:00

Forgotten Weapons
Published on 6 Jul 2014

http://www.forgottenweapons.com

Theme music by Dylan Benson – http://dbproductioncompany.webs.com

The 37mm gun was found in many guises during World War One – that caliber was the smallest allowed to use exploding projectiles by the 1899 Hague accords. Every nation in the world, it seems, used 37mm guns of one type or another. Well, one particular version I had the chance to look at was built by Bethlehem Steel in Pennsylvania for the French Army. Chambered for the same 37x136mm Hotchkiss Heavy cartridge used in US naval service, 200 were purchased in 1916. Only 15 were actually shipped before the US Army seized the bulk of the order in 1917 – but they were never put into any sort of service by the US military. The French tested the guns for suitability as an infantry gun, anti-tank gun, anti-aircraft gun, and naval landing gun – and found it unsuitable for all roles. It was probably tested only as a backup in case the redesign of the Mle 1916 Tir Rapid ran into problems.

At any rate, the 15 guns sent to France were sent back at the end of the war, and the guns remained in US Army inventory until 1921, when they appear to have been distributed out the National Guard units.

I think this is a very cool gun for the present-day enthusiast. In addition to the historical links to WWI, it has the practical benefits of being relatively light and using ammunition relatively inexpensive to reload. And, of course, the free mount and shoulder rest and iron sights give it more the feel of a shoulder rifle than later light artillery that use precisely adjusted mounts. This one is just more fun to shoot! Alas, there are very few still in existence. Perhaps an opportunity for someone who wants to make a reproduction Big Boy’s Toy?

QotD: Religious hysteria

Filed under: Politics, Quotations, Religion, USA — Tags: , , , , — Nicholas @ 01:00

As for […] the idea that we could lose our freedom by succumbing to a wave of religious hysteria, I am sorry to say that I consider it possible. I hope that it is not probable. But there is a latent deep strain of religious fanaticism in this, our culture; it is rooted in our history and it has broken out many times in the past.

It is with us now; there has been a sharp rise in strongly evangelical sects in this country in recent years, some of which hold beliefs theocratic in the extreme, anti-intellectual, anti-scientific, and anti-libertarian.

It is a truism that almost any sect, cult, or religion will legislate its creed into law if it acquires the political power to do so, and will follow it by suppressing opposition, subverting all education to seize early the minds of the young, and by killing, locking up, or driving underground all heretics. This is equally true whether the faith is Communism or Holy-Rollerism; indeed it is the bounden duty of the faithful to do so. The custodians of the True Faith cannot logically admit tolerance of heresy to be a virtue.

Nevertheless this business of legislating religious beliefs into law has never been more than sporadically successful in this country — Sunday closing laws here and there, birth control legislation in spots, the Prohibition experiment, temporary enclaves of theocracy such as Voliva’s Zion, Smith’s Nauvoo, and a few others. The country is split up into such a variety of faiths and sects that a degree of uneasy tolerance now exists from expedient compromise; the minorities constitute a majority of opposition against each other.

Could it be otherwise here? Could any one sect obtain a working majority at the polls and take over the country? Perhaps not — but a combination of a dynamic evangelist, television, enough money, and modern techniques of advertising and propaganda might make Billy Sunday’s efforts look like a corner store compared to Sears Roebuck.

Throw in a Depression for good measure, promise a material heaven here on earth, add a dash of anti-Semitism, anti-Catholicism, anti-Negrosim, and a good large dose of anti-“furriners” in general and anti-intellectuals here at home, and the result might be something quite frightening — particularly when one recalls that our voting system is such that a minority distributed as pluralities in enough states can constitute a working majority in Washington.

Robert A. Heinlein, “Concerning Stories Never Written”, Revolt in 2100, 1953.

October 10, 2019

Suez Crisis Part 2 of 2

Filed under: Britain, France, History, Middle East, Military, USA — Tags: , , , , , — Nicholas @ 02:00

Epic History TV
Published on 28 Dec 2017

In 1956, an international crisis over control of the Suez Canal put Britain and France into direct conflict with President Nasser of Egypt, a proud Arab nationalist determined to stand up to foreign powers meddling in Egyptian affairs.

Part 2 explores how Britain, France and Israel cooked up a secret plan to invade Egypt, overthrow Nasser and reassert their standing as global powers. But when the international community, and in particular the United States, condemned their actions, the aggressors were forced into a humiliating climbdown. The repercussions for the Middle East and global history were long-lasting and profound.

Archive film from AP Archive http://www.aparchive.com/

Music from Filmstro https://www.filmstro.com/
Get 20% off an annual license! Use our exclusive coupon code: EPICHISTORYTV_ANN

Help me make more videos by supporting Epic History TV on Patreon https://www.patreon.com/EpicHistoryTV

Further Reading on Suez Crisis (click affiliate links to buy on Amazon & support the channel):
Blood and Sand, Alex von Tunzelmann (Simon & Schuster, 2016) http://geni.us/QyoWs
Suez: Britain’s End of Empire in the Middle East, Keith Kyle (I.B.Tauris, 2011) http://geni.us/aqn6AH
The Suez Crisis 1956, Derek Varble (Osprey, 2003) http://geni.us/ANxBQEE
“Suez 1956”, Timothy Benson in History Today (Nov 2006)
“Suez: The Canal Before the Crisis”, Steve Morewood in History Today (Nov 2006)
“Nasser, Suez and Arab Nationalism”, Michael Scott-Baumann in History Today (Mar 2010)
“The First Suez Crisis”, Christopher Danziger in History Today (Sep 1982)
The Suez Crisis, by Laurie Milner, BBC website http://www.bbc.co.uk/history/british/…
“Andrew Bacevich reviews ‘Eisenhower 1956′”, London Review of Books (Vol.33 No.12)
“Avi Shlaim reviews ‘Israel’s Border Wars, 1949-56′”, London Review of Books (Vol.16 No.16)

#EpicHistoryTV #SuezCrisis #ColdWarHistory

October 9, 2019

Suez Crisis Part 1 of 2

Filed under: Britain, France, History, Middle East, Military, USA — Tags: , , , — Nicholas @ 02:00

Epic History TV
Published on 22 Dec 2017

In 1956, an international crisis over control of the Suez Canal put Britain and France into direct conflict with President Nasser of Egypt, a proud Arab nationalist determined to stand up to foreign powers meddling in Egyptian affairs.

To understand the deep roots of the crisis we go right back to the creation of the canal in 1869, and the long history of British intervention in Egypt — all with the usual Epic History TV maps as well as loads of brilliant and rarely-seen archive film from the period.

Archive film from AP Archive http://www.aparchive.com/

Music from Filmstro https://www.filmstro.com/
Get 20% off an annual license! Use our exclusive coupon code: EPICHISTORYTV_ANN

Help me make more videos by supporting Epic History TV on Patreon https://www.patreon.com/EpicHistoryTV

Further Reading on Suez Crisis (click affiliate links to buy on Amazon & support the channel):
Blood and Sand, Alex von Tunzelmann (Simon & Schuster, 2016) http://geni.us/QyoWs
Suez: Britain’s End of Empire in the Middle East, Keith Kyle (I.B.Tauris, 2011) http://geni.us/aqn6AH
The Suez Crisis 1956, Derek Varble (Osprey, 2003) http://geni.us/ANxBQEE
“Suez 1956”, Timothy Benson in History Today (Nov 2006)
“Suez: The Canal Before the Crisis”, Steve Morewood in History Today (Nov 2006)
“Nasser, Suez and Arab Nationalism”, Michael Scott-Baumann in History Today (Mar 2010)
“The First Suez Crisis”, Christopher Danziger in History Today (Sep 1982)
The Suez Crisis, by Laurie Milner, BBC website http://www.bbc.co.uk/history/british/…
“Andrew Bacevich reviews ‘Eisenhower 1956′”, London Review of Books (Vol.33 No.12)
“Avi Shlaim reviews ‘Israel’s Border Wars, 1949-56′”, London Review of Books (Vol.16 No.16)

#EpicHistoryTV #SuezCrisis #ColdWarHistory

October 8, 2019

Sarah Hoyt on the “rough music”

Filed under: China, Economics, France, Media, Politics, USA — Tags: , , , , , — Nicholas @ 09:00

Sarah Hoyt borrows a notion from Terry Pratchett’s Discworld series to explain a real phenomenon in our world:

Pratchett’s “Witches” world was so similar to my own, from jumping over fires to get married (not legal in my day, but there was memory of it) to various local folk superstitions, that it was always a surprise when he pulled something I’d never heard of.

One of these is the “rough music.”

When someone has done just about enough that a small village can no longer put up with him, the men in the village get together and play a barbarous and terrible music as they nerve themselves up for the barbarous and terrible things they have to do.

In Europe — hell, all over the rest of the world — the rough music is playing. Just because no one is reporting on this, it doesn’t mean it’s not going on, and growing, and nerving itself up to … something.

The level at which the Gilets Jaunes have been under reported is extraordinary, except that it hasn’t stopped the uprising either.

(And now I think about it, how much do we see in main stream news about Hong Kong? And it hasn’t stopped the uprising either.)

[…]

So, let’s talk about the rough music. Sure, you can hear it. I can hear it too. The stomp and the drumming can be heard all over the world.

That which can’t go on, won’t.

But I implore you to stop and think: if the rough music plays, what comes after?

There might be no hope for Europe, but Europe’s … ah … how do we put this? Europe’s tenets, their stand before the world, an improvement as they were on everything before them, are not ours.

Even in Europe I suspect when this bursts — and there it will burst. The elites flaying and screaming is only making it worse — you’re going to see things that will make you wonder why on Earth good American boys died in WWII. Because we’re about to get National Socialism, the sequel. National because they’re getting tired of the international elites (and who isn’t) and socialism because the poor bastards have not experienced anything else their entire adult lives.

It will happen. It is necessary. The EU was probably one of the most bizarre ideas in the history of bad ideas. The way it’s run which essentially steals the franchise from ordinary people was just the old style “good families” coming back into power through a back door.

But what comes after will probably be horrific. If we’re all lucky it will also be briefish and like France after the revolution they’ll find their way to something slightly less insane. With or without Napoleon and Europe wide war? Ah … that’s where we need to talk.

First however, let me say that hearing the rough music from the rest of the world is starting to echo here. We see what’s going on there. And we hear strange and stupid stuff, like the “whistleblower of the day” and an impeachment without voting and of course, pancake-gate.

Faced with that kind of behavior you obviously think “It’s insane.” And “We have to stop it.”

Big Iron: Development of the Colt 1848 Dragoon Revolver

Filed under: History, Military, USA, Weapons — Tags: , , , , , — Nicholas @ 02:00

Forgotten Weapons
Published on 23 Aug 2019

RIA on YouTube: https://www.youtube.com/user/RockIsla…
RIA on Instagram: https://www.instagram.com/rockislanda…

Sam Colt’s first foray into firearms manufacturing did not end well — after 6 years, he went broke and shut down production of Paterson revolvers and revolving long guns. His guns were too expensive, too fragile, and too underpowered to become a commercial success. They did make an impression on some people, however, and a few years later Colt would work with Captain Samuel Walker of the Texas Rangers to develop a much larger and more robust revolver. The US military purchased 1,000 of these Model 1847 “Walker” revolvers, and this set Colt back on the path to financial success.

Colt contracted with the Whitneyville Armory to produce his Walkers, and part of the contract was that Colt would own any tooling developed for the manufacturing process. The Walker was successful enough that it spurred a second 1,000-pistol order form the government, and Colt used the Walker tooling along with his newfound capital to set up shop in Hartford CT producing guns himself. He immediately made a number of changes to the Walker pattern, primarily making is a bit shorter and lighter (4lb 2oz, with a 7.5 inch barrel), reducing the powered charge to 50 grains (the Walker had used 60 grains), and improving the loading lever retention latch. This would become known as the Model 1848 Dragoon revolver.

Between 1848 and 1860, a total of 20,700 Dragoons were made, 8,390 of them for the US military. There would be three main variations, called the first, second and third types today. In today’s video, I will show you all three and explain how they differed from each other — and we will also take a look at a rare long-barreled version as well as one with an original shoulder stock.

http://www.patreon.com/ForgottenWeapons

Cool Forgotten Weapons merch! http://shop.bbtv.com/collections/forg…

Contact:
Forgotten Weapons
PO Box 87647
Tucson, AZ 85754

October 7, 2019

QotD: Politicians’ promises

Filed under: Media, Politics, Quotations, USA — Tags: , , , — Nicholas @ 01:00

It is said of Obama that his every promise had an expiration date. That way of phrasing it seems almost too kind – as if each promise once had value and then lost it after it expired. Some promises are only ever meant to be believed – they are never meant to be kept.

Niall Killmartin, “The promise that was never meant to be kept is now the hill they have chosen to die on”, The Great Realignment, 2019-09-04.

October 6, 2019

Finally a reason to climb on the impeachment bandwagon

Filed under: Economics, Government, Humour, Politics, USA — Tags: , , , , — Nicholas @ 05:00

Andrew Heaton, in his latest newsletter, explains why he’s finally come down on the side of impeaching President Trump:

Okay, here’s the main thing I wanted to talk to you about: America is about to slap a TWENTY-FIVE PERCENT tariff on scotch. The underlying story involves the WTO and Airbus, but I think I can save everybody a lot of time by pointing out that our president is a mouthbreathing protectionist who’s too lazy to read Adam Smith’s wikipedia page.

Here are a few things to consider:

  • Tariffs are just taxes, designed to punish you for having the gall to buy something from a foreigner.
  • This will hurt Scottish distillers, and potentially price out distillers with low profit margins.
  • I might have to switch to wine on dates.
  • We have now spent more money needlessly bailing out farmers from a trade war with China than we did bailing out banks under Bush.
  • We’ve known about the idiocy of tariffs since The Wealth of Nations came out in 1776.
  • Trump, a man lacking an ideological core, for reasons which boggle the mind, seems to genuinely believe tariffs and protectionism are good things, as he has maintained since the 80s.

Chances are if you subscribe to this newsletter you’re not a teetotaler, but on the off chance you are, allow me to make a case against whisky taxes even if you are not personally apoplectic about a tax hike on Laphroaig. (A concoction personally invented by Almighty God. It’s like you’re drinking a campfire. Try it.)

There’s an old saying: when goods don’t cross borders, armies do. I concur with this. In fact my largest contribution to the field of economics (Nobel Prize forthcoming) is Heaton’s Peace Through International Mistresses Theory.

My groundbreaking idea is that we want to have an interconnected, global economy with lots of transnational trade, because businessmen will be less supportive of bombing cities their mistresses live in. When trade wars happen, international trade collapses, and suddenly businessmen are flying to Berlin and Paris a lot less. Pretty soon we’re firebombing Tokyo.

It would probably be more appropriate of me to dedicate my political analysis to the forthcoming Ukraine/Trump/Biden/Impeachment circus which will dominate our lives for the next few months. However in my case I don’t need to. The president has messed with my scotch. Now it’s personal. I’m all in.

Impeach the guy.

#FreeTrade

You can subscribe to Andrew’s email newsletter here.

QotD: Modern middle-class “cosmopolitans”

Filed under: Education, Politics, Quotations, USA — Tags: , , — Nicholas @ 01:00

We must not sneer at Jennifer and Jason, many readers are sure to point out, for choosing IKEA. Their incomes, though high in the global scale, are likely to be lower than their parents’ were, and they often have to move in order to climb the employment ladder. It is only reasonable for them to buy something inexpensive, transportable, and replaceable. IKEA fulfills an important niche in the middle-class market — for cheap furniture that still retains a semblance of respectability. The company has exploited this market to become the global empire that Sweden never had, a kind of Viking revenge on the modern age.

Still, there is a good chance that Jennifer and Jason actually like their IKEA dressers, and prefer them to the old oak chest that their grandparents tried to foist on them. Indeed, the extraordinary popularity of IKEA testifies not only to its convenience but to its ability to appeal to the middle-class self-image. Jennifer and Jason are drawn to IKEA because it reflects who they are: they too are modern, movable, and interchangeable, their wants satisfiable in any neighborhood with a food co-op and a coffee shop. More fundamentally, Jennifer and Jason are untraceable, a “composite material” made from numberless scraps and pieces. They have a long catalog of home towns, and their accents are NPR neutral. They can probably rattle off the various nationalities in their family trees — Dutch, Norwegian, Greek, and Jewish, maybe some Venezuelan or Honduran for a little color. From these backgrounds they retain no more than a humorous word or phrase, a recipe, or an Ellis Island anecdote, if that. They grew up amidst a scramble of white-collar professionals and went to college with a scramble of white-collar professionals’ kids. Their values are defined mainly by mass media, their tastes adorably quirky but never straying too far from their peers’, and like the IKEA furniture that they buy in boxes, they too cut themselves into manageable, packaged pieces and market themselves online. They are probably “spiritual but not religious.” They have no pattern or model of life that bears any relation to the past before the internet. For all intents and purposes, they sprang up de novo in the modern city. Whereas the Veneerings’ high fashion covered over an essential vulgarity, Jennifer’s and Jason’s urbane style masks a hollowness.

It may be tempting to call Jennifer and Jason, and the the group of people whom they represent, “cosmopolitans.” (And indeed, IKEA, with its vaguely exotic Swedish names, provides a dash of cosmopolitanism on the cheap.) However, Jennifer and Jason are something newer and more bizarre than cosmopolitans: as Ross Douthat aptly pointed out in the wake of the Trump election, the increasingly insulated college-educated classes of the coastal cities do not grapple with real, substantive differences in beliefs and values, associating instead with cliques of like-minded classmates. In addition, classic cosmopolitans seek out what is best in others’ traditions while showing a fierce pride in their own — a Jordanian extolling the majesty of Petra, a Mexican diplomat breaking into lines of Octavio Paz, etc. Westerners like Jennifer and Jason show no such pride or attachment, instead leaping at opportunities to mock the foibles of their native lands.

Conversely, we must also avoid cheap epithets. The word “cosmopolitan” is a double-edged sword – long a shibboleth for worldly sophistication, it has lately turned upon its makers, serving as a political weapon against urban liberals; it is not surprising that a Trump spokesman recently attacked the “cosmopolitan bias” of a journalist who questioned the White House’s immigration policies. There is nothing particularly new or insightful about attacking urbanites tainted by association with the foreign, like the Judean exiles railing against the silken whores of Babylon. Still, as shallow and hackneyed as this rhetorical strategy might be, it packs a populist punch because the very concept of “cosmopolitan” is purely relative: since no one, legally speaking, is a citizen of the world, one can be “cosmopolitan” only in contrast to someone else – a “provincial” in the Victorian terminology, or a “xenophobe” in contemporary talk. In other words, the idea of cosmopolitanism carries an unavoidable subtext of class superiority.

Samuel Biagetti, “The IKEA Humans: The Social Base of Contemporary Liberalism”, Jacobite, 2017-09-13.

« Newer PostsOlder Posts »

Powered by WordPress