Source: The Daily Economy
by Karl-Friedrich Israel
“Capturing only what households consume, inflation stats miss the assets they hope to own. Recent inflation has rewarded existing owners at the expense of aspiring ones.” (09/09/26)
“Last month, Texas Gov. Greg Abbott froze state funding for automated license plate readers (ALPRs), acknowledging concerns about the warrantless surveillance enabled by such AI-assisted cameras. Abbott took that step the day after Florida Gov. Ron DeSantis, a fellow Republican, declared that ALPRs are ‘out of control.’ … The congressional response to ALPRs, including several bills and an investigation that Sen. Josh Hawley (R–Mo.) announced last month, has been dominated by conservative Republicans, which confirms that the backlash is not limited to libertarian or left-leaning critics. Whether it will yield effective constraints is another question.” (09/09/26)
“The EU’s General Court has rejected Russian tycoon Roman Abramovich’s challenge to sanctions imposed on him following Russia’s invasion of Ukraine, upholding asset freezes and travel restrictions against the billionaire. The Council of the EU acted within its powers when it extended the measures against the billionaire former owner of Chelsea Football Club in 2022 through September 2025 and March 2026, judges ruled, according to a statement issued by the Court on Wednesday. Abramovich, who holds Russian, Israeli and Portuguese nationality, is the majority shareholder in Evraz, one of Russia’s largest steel and mining groups. He also owns shares in Norilsk Nickel, a major producer of palladium and refined nickel. The EU Court said the bloc’s sanctions criteria were objective, sufficiently precise and proportionate. They target prominent businesspeople operating in Russia, particularly those active in sectors that provide significant revenue to the Russian government.” (09/09/26)
“A quarter-century has passed since the terrorist attack that killed almost 3,000 people in the United States on Sept. 11, 2001. During the first seven years after that mass atrocity, Pentagon spending doubled. The aftermath of 9/11 was also a huge boost for ‘the intelligence community.’ Despite – and because of – their failure to prevent the carnage on that day, the CIA and the National Security Agency as well as 14 smaller spy agencies boomed with enormous jolts of funds. Along the way, some line items paid for torture that persisted during the George W. Bush presidency under the euphemism of ‘enhanced interrogation techniques.'” (09/09/26)
“On November 12, 2024, I went on NBC News when Hegseth had been announced as Trump’s nominee for secretary of defense and argued that Hegseth might be just what we need, instead of another standard military-industrial-complex ‘veteran’ who never met a war he didn’t like. But I included two key caveats in my support. First, I argued that he had to be different from his predecessors and not just be a yes-man who prosecutes wars even if a sober analysis reveals we could not win them. Second, I warned that if we continued to support other wars and saw our stocks of key weapons systems plummet – especially missiles – he had to tell the president we could not go down that path (as it would put our own national security in unnecessary peril). Hegseth violated both of those warnings.” (09/09/26)
“In the 19th century and much of the 20th century, the quadrennial party conventions were indispensable pieces of political technology. I mean that literally. Traditionally, conventions were where party stakeholders — elected officials, party bosses, etc. — chose the nominee. Factions representing regions, interests, even ideas (how quaint!) would debate and horse-trade with each other, sometimes over days of voting, to name someone the party could get behind. That system started to atrophy in the 1930s, as Michael Barone, the great political analyst, has argued, because of the telephone. … Polling, and then television, further sapped away the function of conventions. … party conventions essentially became infomercials ratifying a fait accompli. The brokered convention — even the prospect for one — is gone now, replaced by a coronation. But at least the coronation still serves a purpose. It’s still a necessary function of our electoral system. A boring, intelligence-insulting, performative function, but a function all the same. This midterm ‘convention’ isn’t even that.” (09/09/26)
“Americans are more skeptical of government information than they were a few years ago, with majorities now saying they have little or no trust in federal government information about elections and politics, foreign affairs or the environment, a new poll finds. The survey from The Associated Press-NORC Center for Public Affairs Research and USA Facts shows that while mistrust of government information has grown since 2024, it’s also higher than it was at the end of President Donald Trump’s first term, underscoring how his recent attempts to dismantle the federal bureaucracy may have affected public confidence in the executive branch, particularly among Democrats. … About 6 in 10 U.S. adults have low trust in information from the federal government about the environment, foreign affairs, elections and politics, abortion or immigration — saying they trust it ‘only a little’ or ‘not at all.'” (09/09/26)