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The Wrongologist

Geopolitics, Power and Political Economy

Saturday Soother – November 4, 2017

The Daily Escape:

Grand Tetons early morning – 2011 photo by Wrongo

Two short thoughts for your Saturday. First, hidden in the language of the GOP’s Tax Bill  is a something that would change the Johnson Amendment, a provision in the tax code that prohibits churches, faith communities, and other non-profits from outright endorsing political candidates:

…The provision is not a complete repeal of the Johnson Amendment. As written, it would only free up religious communities—not all non-profits—to endorse candidates and appears to prohibit churches from going out of their way to campaign for a candidate outside of their normal religious activities.

The GOP wants to erode the separation of church and state. Let’s see who, if anyone, in Congress is willing to fight for the Constitution.

Second, the Democrats had a grenade go off inside the DNC when an excerpt from Donna Brazile’s new book was published by Politico. She claims that the Clinton administration assumed control over the Democratic National Committee (DNC) in exchange for keeping it solvent, then funneled most of the funds raised into her campaign, leaving the states with very little to support down-ballot races.

The states kept less than half of 1 percent of the $82 million they had garnered from the Hillary fund-raisers the campaign was holding to support state-level candidates. That’s about $4.1 million.

When Howard Dean was chair of the DNC he instituted a 50-state policy, saying the DNC would maintain full time workers in each state, to contest seats up and down the ballot from the county, to state legislature to house and senate races.

When Obama won, Dean was out, and the 50-state policy was dismantled. After that, the DNC was reorganized to serve only national level elections. And Obama For America took its place as the funds-raising vehicle for the presidential re-election. And Hillary did much the same with the Hillary Victory Fund, but she went further, as Brazile reveals: The DNC would covertly back Hillary in the primaries.

And now, through these efforts, the Democrats have lost the White House, the Senate and the House, in addition to most state governments.

It’s hard to decide what’s worse, that the party is run by incompetents, or that it is just hopelessly corrupt.

Time for a hostile takeover of the Democratic Party.

On to the weekend. You obviously need to go to a happy place that doesn’t include continual assaults by our national media. So brew up a cup of London-based Union Hand-Roasted Coffee’s El Topacio Microlot, El Salvador, available online for £8/200g.

Now kick back someplace you can see the natural world outside, and listen to Peter Mulvey playing his instrumental, “Black Rabbit”. Mulvey is known for his guitar chops and songwriting. He got started by playing in the Boston metro. This short acoustic gem is executed with ease, and pure musicality:

Those who read the Wrongologist in email can view the video here.

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Saturday Soother – October 27, 2017

The Daily Escape:

Fall at Crested Butte – photo by mellowrapp

The economists at Indeed’s Hiring Lab say that the areas of the country that voted for Donald Trump in 2016 face the smallest job growth in the decade ahead.

Indeed uses new projections by the US Bureau of Labor Statistics (BLS) to project the winners and losers in the American job market for the period 2016-2026:

The occupational projections suggest faster growth in urban areas than in suburbs, and slowest in rural areas. The two sectors projected to have no or negative growth — production and agriculture — are more concentrated in small towns and rural areas. Many technical, scientific, legal, financial, and healthcare jobs are clustered in big, dense cities.

The fastest growing occupations are projected to be in clean energy: solar photo-voltaic installers and wind turbine service technician jobs are expected to double. Four of the 10 fastest growing occupations pay at least $100,000 a year, according to the BLS: physician assistants, nurse practitioners, software developers, and mathematicians.

Indeed combined the BLS projections with 2016 US Census Bureau’s American Community Survey data to show where the faster-growing occupations will be located. That suggests faster growth will be in coastal urban areas, and slowest growth will be in rural areas:

Indeed then overlaid voting patterns on the BLS job growth projections. It is clear that Blue America has a more favorable forecast for future jobs growth than Red America:

So what does this chart tell us? In places that voted for Trump by a 20-point margin, 16% of workers are in occupations projected to shrink, versus 13.2% of workers in places that voted for Hillary Clinton by a similar 20-point margin.

The next decade’s jobs growth could also increase inequality. The fastest growing jobs include several with the highest average wages, including healthcare, computer, and mathematics occupations. Occupations with the lowest average wages are also projected to grow fast, such as home health aides and personal care aides. Middle-wage job growth is projected to lag, at about half the rate of the highest- and lowest-wage jobs.

It seems that a big slice of Trump’s supporters will be losers when it comes to jobs and income growth over the next 10 years. Will they stick with the Republican Party when the job situation gets even worse for them? Of course!

Now, here comes the weekend!

This week we watched Jeff (I’m not a) Flake give a valedictory speech that excoriated the leader of his party. Catalonia succeeded from Spain, and the GOP pushed their tax cut agenda forward. The Trump administration tried to deny a young illegal immigrant woman an abortion, and Hillary Clinton was implicated in paying for the Steele Dossier.

But the worst was that Paul Newman’s Rolex wristwatch sold for $17.75 million. File this under: Idiots with too much money.

Plenty of hits to the system for a single week, so it’s time to take a break from the reality known as Trumpmerica.

Time to brew a very large mug of Celestial Seasons Bengal Spice tea, put your feet up, and put on the Bluetooth headphones. Now listen to Aaron Copland’s “Quiet City” from the 1989 album “Works by Husa, Copland, Vaughan Williams, and Hindemith”, performed by Wynton Marsalis with Phillip Koch on English Horn along with the Eastern Wind Ensemble.

Copland said the piece was an attempt to mirror the troubled main character of an Irwin Shaw play, who had abandoned his religion and his poetry in order to pursue material success. He Anglicized his name, married a rich socialite, and became president of a department store. But he continually returns to his guilty conscience whenever he hears the haunting sound of his brother’s trumpet.

See if Marsalis can take you inside your conscience:

Those who read the Wrongologist in email can view the video here.

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Saturday Soother – October 21, 2017

The Daily Escape:

Autumn at Lake McDonald, Glacier National Park – photo by Jack Bell

Wrongo wonders where we went wrong. Was it the 2016 election, or were things heading towards the cliff for many years? Is there a way back from our national free-fall?

Another week when Trump dominates the news cycle by making it all about him. The federal response to the Puerto Rican disaster? A 10. Which president calls the next of kin of GIs killed in the line of duty? Trump, not the black guy. Who was for the bi-partisan insurance fix for Obamacare before he was against it? His Orangeness.

There was a notable softness in commentary on what Trump and the GOP are doing that is making America win. And the news from overseas is worse. Friday’s NYT speaks about how our Syrian and Kurdish proxies have taken Raqqa, the headquarters of the ISIS Caliphate. It says that now that our guys have won, we have no idea who/how to fill the political vacuum we just created: (emphasis by the Wrongologist)

Trump administration officials acknowledge privately that the military campaign in Syria has by far outstripped the diplomatic campaign, to the point now where there is no real plan for what to do in a post-Islamic State Syria.

We attacked ISIS in Syria because that was popular with American voters, and doing what the neo-cons really wanted, attacking Assad in Syria, wasn’t something the American public would accept. Now, ISIS is fading into the woodwork, and we will soon be face-to-face with the Syrians, Russians and Iranians. Certainly, Syria expects it will control Raqqa. What’s the Administration’s plan?

This is depressingly similar to what Wrongo has written this week about Iraq and Iran. Lots of energy, but no plan. Certainly, nothing that can be legitimately called “strategy”.

It’s Saturday, time to downshift, and find a calm place. Today, Wrongo suggests a Vente cup of Sakona Coffee Roaster’s Jaizlibel Blend, (€28.00/Kilo). Note that Sakona roasts to order, so you’ll need to plan ahead. Then, find your Bluetooth over the ear headphones, get comfortable, and watch the leaves fall on this October day.

Now, listen to Martha Argerich. The NYT reports that Martha Argerich, the 76-year old Argentinian pianist, and one of the world’s greats, played in NYC on Friday night at Carnegie Hall. She’s one of the last remaining old masters. Once she’s gone, much of what we hear will sound like what everyone else is playing. She rarely visits the US, but there is a large YouTube library of her work. Here is Argerich playing Chopin’s Scherzo No. 2 in B-flat minor, Op. 31 written in 1837. The video is from 1966, when Argerich was 24:

Those who read the Wrongologist in email can view the video here.

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Letter From London – Saturday Soother Edition

On Thursday night, we saw “An American in Paris”. It played on Broadway, winning four Tony awards before moving on to Paris and now, London. It is based on the 1951 film with George and Ira Gershwin’s music that won six Oscars. Since it was just six years after the end of WWII, the movie is played as a lighthearted romp, filled with tap dancing.

On the stage, the focus is on the romantic story of a young American soldier and a beautiful French girl in Paris, each yearning for a new beginning in the aftermath of war. The American GI, Jerry, a painter in Montmartre meets Lise, a young saleswoman. Lise however, is loved by Henri, a rich kid singer of middle-of-the-road popular songs.

The stage version is balletic, even to the point of including a 15+-minute classical ballet when Jerry and Lise reunite, after it seemed their love would be unfulfilled. The sets are magical. A swastika flag turns into the French Tricolor before our eyes. Backlit screens showing Paris are conjured in line drawings that are slowly sketched in, like our hero Jerry, the GI artist might do on the streets of the city. All of the sets are animated by 59 Productions. As the images float in, computers project these scenes exactly on time with the set as it moves into place. (Sorry no photos are allowed in the theater!)

This was a wonderful experience, and Wrongo and Ms. Right, who missed in on Broadway, were delighted to see it here. “Who could ask for anything more?

After the show, we were fortunate to meet with Leanne Cope, the Tony nominee who played Lise in NYC, Paris and now in London. She was joined by Zoe Rainey and Julia Nagle, featured members of the cast. Cope is a member of the Royal Ballet and brings those skills to the role of Lise, plus she also has a beautiful singing voice.

It is incredibly difficult to perform the dancing sections for eight days each week, and Leanne said that the fear of injury is always present. She only performs seven of the weekly shows, and thus gets a long weekend each week for rest and recovery.

On Friday, we traveled out of London to Highclere Castle for dinner:

2017 photo by Wrongo

This is the big highlight of a highlight-filled week in London. Obviously, we did not dress for dinner like Lord and Lady Crawley did in the 1900’s, but the Castle insisted there should be no stilettos or sneakers. Turns out they have been doing private dinners for a couple of years. They have the occasional marriage on site as well.

We had a brief tour of the bedrooms shown on the series, but what was the most interesting was our tour of the Egyptian antiquities that were discovered by the fifth Lord Carnarvon. He and Howard Carter discovered Tutankhamun’s tomb. Much of the Lord’s collection was sold in the 1920’s to NYC’s Metropolitan Museum. Howard Carter catalogued what remained and said he had stored a few unimportant items at Highclere.

Those items were hidden within the Castle, until re-discovered by the family in 1987. An incredible story.

We had dinner in the dining room that is featured on the show, and it was outstanding. But a big thrill for those who watched “Downton Abbey” on PBS was that after the meal, someone said, “Shall we go through?” And we retired to the magnificent library for coffee, and single malt or cognac.

We can marvel at the manner in which some at the very top of the wealth pyramid lived back then, but remember, the castle still doesn’t have central heating. Highclere was part of a lifestyle on a grand scale that, for both social and financial reasons, can no longer exist, probably not even for the most obscenely wealthy hedge fund guys of today.

Here is the theme music from the show for our Saturday Soother. Our driver had the CD playing as we drove up to the main entrance of the castle:

Those who read the Wrongologist in email can view the video here.

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Saturday Soother – October 7, 2017

The Daily Escape:

Naiman Nuur (Eight Lakes) National Park, Mongolia. The lakes are just 22 miles from the Orkhon waterfalls, but are accessible only by hiking, or by horse. You can get to it with 4 wheel drive vehicles, but it is 80+ miles one way, 160 if there are heavy rains. You are probably never coming here.

Rick Perry heads Trump’s Department of Energy, (DoE). With the Russians, nuclear war with North Korea, ditching the Iran deal, and hurricanes, we have ignored Perry. But Perry hasn’t ignored the coal industry Trump hired him to protect. The DoE has asked the Federal Energy Regulatory Commission (FERC) to begin the rule-making process to subsidize coal and nuclear plant operator’s costs and profits. From Vox:

Perry wants utilities to pay coal and nuclear power plants for all their costs and all the power they produce, whether those plants are needed or not.

This takes a brief unpacking. The DoE did a study of power grid reliability that said:

The loss of coal plants had not diminished grid reliability; in fact, the grid is more reliable than ever. Reliability can be improved further through smart planning and a portfolio of flexible resources.

Then the DoE said to FERC: Address a crisis we determined doesn’t exist. They are asking FERC to adopt a rule forcing utilities in competitive energy markets to pay the full cost of plants that have 90 days’ worth of fuel on-site. Perry’s argument is that the levels of renewable energy produced from wind and solar is variable. And since backup is needed for days with calm winds or cloudy skies, we need to preserve the aging coal and nuclear plants to protect the power grid from dips in availability, because they alone among electric power sources, have 90-days of fuel on hand.

Perry’s contention is that coal and nuclear stored fuel is necessary for grid reliability, and, that these plants are unfairly being driven out of business by subsidies to renewable energy. This is patently false. It is cheap natural gas that is driving coal out of business.

Having fuel on-site does little for grid resilience. No one expects energy outages if coal and nuclear plants continue closing. But, let’s have more corporate welfare for the least useful part of the energy industry!

Perry’s alleged problem isn’t real, and his solution, subsidizing coal and nuclear plants, is a form of theft. A transfer from the most deserving, clean renewable and safe plants, to the least deserving, most polluting and dangerous coal and nuclear plants.

And people will be taxed through artificially higher electricity rates to subsidize coal and nuclear plants. More from Vox:

It’s hard to overstate how radical this proposal is. It is wildly contradictory to both the spirit and practice of competitive energy markets. It amounts to selective re-regulation, but only for particular power sources, which wouldn’t have to compete, they’d just have to have piles of fuel.

So does FERC have to do what DoE asks? No, but consider this: FERC has three commissioners (a quorum), two of which, including the chair, are Trump appointees. The chair is Neil Chatterjee, who was a staffer for Sen. Mitch McConnell, the Senate’s champion of coal. Chatterjee recently said:

I believe baseload power should be recognized as an essential part of the fuel mix. … I believe that generation, including our existing coal and nuclear fleet, needs to be properly compensated to recognize the value they provide to the system.

So, this market-wrecking plan to Make Coal Great Again is likely to happen.

This is an old-school Ayn Rand-style looter giveaway from a bunch of self-described free-market “conservatives” trying to rescue a dinosaur industry that is choking the world.

Just another issue that raises our anxiety level. It’s Saturday, and we need to dial it back, relax and stop thinking about how these Trump termites are quietly undermining everything. Grab a hot, steaming cup of Mystic Monk Paradiso Blend coffee ($15.99/lb.), find a quiet corner, put on the Bluetooth headphones and listen to Telemann’s “Concerto in D major for Violin, Cello, Trumpet and Strings”, TWV 53:D5. Here performed by the Bremer Barockorchester, recorded in a November, 2015 live performance at the Unser Lieben Frauen Church, Bremen, Germany:

Note the valveless trumpet played by Giuseppe Frau. It is an Egger (three-hole system) Baroque trumpet.

Those who read the Wrongologist in email can view the video here.

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Saturday Soother – September 30, 2017

The Daily Escape:

Reflection Canyon, in the Glen Canyon National Recreation Area, Utah. This spot became popular with hikers after Apple used it to promote its Mac Book Pro high resolution with retina display. People first learned about the location after this photograph was taken by Michael Melford in 2006.

Texas has a $10 billion rainy day fund. Now, you would think that when the rains came to Houston, Gov. Greg Abbott would say “It’s a rainy day fund, let’s send some to Houston”.

Nope. The Texas Observer reports: (brackets and emphasis by the Wrongologist)

On Tuesday, after Turner [Houston’s Democratic mayor, Sylvester Turner] made a public request for money from the rainy day fund, Governor Greg Abbott joined in, telling reporters that the fund wouldn’t be touched until the 2019 legislative session. Turner “has all the money that he needs,” Abbott said. “In times like these, it’s important to have fiscal responsibility as opposed to financial panic.” The governor went on to accuse the mayor of using Harvey recovery efforts as a “hostage to raise taxes.”

This is an epic statement of Evil. The Texas rainy day fund has $10 billion. The bill for Harvey is estimated at $180 billion, but Houston has all the money needed.

The Observer also quoted Lt. Governor Dan Patrick from early August, less than a month before Hurricane Harvey made landfall:

Where do we have all our problems in America?…Not at the state level run by Republicans, but in our cities that are mostly controlled by Democrat mayors and Democrat city council men and women. That’s where you see liberal policies. That’s where you see high taxes. That’s where you see street crime.

Ideology always comes first in Texas. You would think that these ultra-conservative chimps would be looking for ways to help Houston, if not its mayor. But, it’s business as usual: Everything good in Texas is to the credit of the brave GOP legislators in Austin, and everything bad is the fault of county commissioners, mayors, city councils and school boards.

Oh, and the immigrants.

Six of the nation’s 20 largest cities are in Texas. And those six have half of the state’s population, and they generate most of its economic activity. But, Republicans consider them a threat, either because of their “liberal” values or the demographic, and thus, the political threat they represent to the Texas Republican Party.

This could be a real problem for the entire country in the future. Increasingly, we are seeing the GOP in red states using their control of the political system to make war on the blue cities in their states. Think about Flint, MI where local interference by the governor and state-level Republicans partly brought about the lead-in-the-water crisis that remains unresolved, and which the state won’t pay for.

Maybe this is a good time to remember that Greg Abbott received a multi-million dollar settlement for an accident that paralyzed him, and put him in a wheelchair. He is also the guy that subsequently proposed, sponsored and shepherded tort reform in the Texas legislature.

He’s the guy that acts as if tort reform doesn’t keep present day accident victims from getting the kind of compensation that he received. He closed the door after he got his millions in a settlement.

Texas is dominated by right-wing extremists determined to turn everything to advance their ideological agenda. Forget that Texas already has massive disparities between whites and non-whites in terms of social services, policing, and most other government functions.

Turning their back on Houston just makes the ideology more visible.

In Texas, they just do everything bigger and badder.

Time to relax and think about summer being over. Fall is officially here, the leaves are turning and falling onto the fields of Wrong. Time to brew up a Vente-sized cup of Durango Coffee Company’s Costa Rica Las Lajas Perla Negra ($16.95/lb.), put on the Bluetooth headphones, and watch the leaves fall.

While you do, listen to “Woods”, the second cut on the 1980 album “Autumn” by George Winston. It was his second solo piano album. Wrongo chose this because of the great fall-inspired video that accompanies the music:

Those who read the Wrongologist in email can view the video here.

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Saturday Soother – September 23, 2017

The Daily Escape:

Sunndalsøra, Norway, best known for its aluminum factory, one of the largest in Europe – photo by Brotherside

WaPo reports that estimates say it will take about four months for electric power to be restored on Puerto Rico. You would hope that we could beat the estimate by quite a bit. What is the Congress’s plan to help out our Commonwealth?

Can you imagine living somewhere without power for several months? We had to do it once at the Mansion of Wrong, at the height of winter for 7 days. It got to 37°F one night inside the house. We now have a whole house generator.

What happens to the Puerto Rican economy if there is no power for multiple months? Can average people make a living? How will they pay the rent, or the mortgage?

Our first concern should be providing them with supplementary power. Generators and the fuel to power them must be among the first things we deliver to the island. They are the cheapest, fastest way to deliver temporary power while the basic infrastructure of power lines and cell towers are rebuilt. Fuel (mostly diesel) will need to be brought in via ship. Health care facilities need power to operate, and the basic elements of government requires it as well. With power, they can begin to restore normalcy, communications and water for citizens.

People will need some form of temporary housing. Businesses will need to sell products and services, and help keep people employed. It’s also not clear how law and civil order will stand up to months without power, or to a situation where people can’t get their basic needs met.

Anyone with resources, or family connections on the US mainland is going to move away, many will come here. Will Puerto Rican immigrants be seen by the GOP base as simply more illegals coming to use our welfare system?

Will the GOP remind their base that Puerto Ricans are US citizens? It isn’t certain that Republicans all will say that. Think about what that says about the America we live in today.

The scale of this disaster would be unfathomable and unacceptable on the US mainland. Will we step up as a country and help our brothers back to their feet? Or, will we do something half-hearted because they are the “other“?

Before you answer, remember that Flint Michigan still doesn’t have safe drinking water. Maybe getting the help you need is mostly about whether you (and your town) are the correct color.

Time to get soothed after another really tough week. Try to find a bag of Beanstock’s Shucker’s Roast coffee (only available at retail during the Wellfleet Cape Cod Oysterfest) but otherwise available at great Cape Cod restaurants like C-Shore Wellfleet. Then, brew up a hot, strong cuppa. Settle back, put on the Bluetooth headphones, and listen to Tchaikovsky’s Trio in A minor, Op. 50. This will take about an hour, but you will be greatly rewarded.

Tchaikovsky wrote this between December 1881 and late January 1882. It is the only work Tchaikovsky ever wrote for piano, violin, and cello. Here it is performed live at the New England Conservatory’s Jordan Hall in February 2013, with Livan on piano, Zenas Hsu on violin and Yina Tong on cello:

Those who read the Wrongologist in email can view the video here.

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Saturday Soother – September 16, 2017

The Daily Escape:

Old Prison, Annecy, France. This 12th century prison sits in the middle of the river Thiou. Because of the canals in the town, Annecy is called the Venice of the Alps.

Yesterday, Wrongo said that we needed a special tax to be used solely to rebuild the economies and infrastructure of states hit by Irma and Harvey. It didn’t take long to hear that millionaires already pay enough taxes. In one way, that is correct. From the Atlantic:

Forty years ago, the richest 1% paid about 18% of the country’s federal income taxes. Today, they pay about 40%.

While 40% seems high, we need to look harder at the arithmetic: The number of million-dollar-earners in the US has grown rapidly since Y2K. According to the IRS, the number of households with an adjusted gross income greater than $1 million more than doubled between 2001 and 2014, the last year with complete data. And no group has grown faster than the super-rich; the number of households earning more than $10 million grew by 144%.

Between 2001 and 2014, income earned by millionaires grew twice as fast as income earned by the rest of us. In 2001, million-dollar earners and above collectively reported income of about $600 billion. In 2014, they reported $1.4 trillion, more than double the amount in just 14 years. And the top 10% of wealthiest families in this country control 76% of our country’s total wealth.

So, we shouldn’t feel guilty about taxing them for a specific need, for a time-limited period.

If you’re a millionaire, it’s not just because you worked hard. It’s because you worked hard, and you live in a country where the government provides a well-developed infrastructure, stable institutions and markets governed by a strong commercial code.

Rich people need to stop griping and pull their weight, just like the rest of America’s tax-payers.

So Wrongo says again, we all need to pay extra taxes into a special fund for redevelopment of Florida and Texas. As the libertarian Joseph Tainter asserts in his book “The Collapse of Complex Societies” (don’t read it), when a society no longer has the reserves to help offset what might otherwise be a recoverable disaster, collapse can’t be far off.

Increased revenues will absolutely increase our reserves. And they will help us recover from this current disaster.

It’s Saturday, and we need to relax. Today Dr. Wrong prescribes a double Hayes Valley Espresso (whole bean is $ 17/lb.) from Oakland, CA’s Blue Bottle Coffee. Get it now, Blue Bottle has just agreed to be acquired by Nestle.

Brew it up, put on the Bluetooth headphones, and listen to the Flute Quartet No.1 in D major by J. J. Quantz, flute maker and Baroque composer. Quantz was extremely prolific. He wrote six flute quartets that were discovered in 2001 by American flutist Mary Ann Oleskiewicz in archives of the Sing-Akademie zu Berlin. Here is Quantz’s Flute Quartet No. 1:

Those who read the Wrongologist in email can view the video here.

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Saturday Soother – September 9, 2017

The Daily Escape:

Stepwell, Rahasthan India – photo by Victoria Lautman. Stepwells were carved to make it possible to bring water up from deep wells. Only about 250 stepwells remain.

Big week. Trump cozies up to Schumer and Pelosi, earning the enmity of Ryan and McConnell. Hurricane Irma slices through the Caribbean, and is making landfall in Florida as Wrongo writes this. The Wrong family offers its best wishes to those who are still in the path of the storm.

But, there is another storm brewing over at Equifax, who was nailed by a breach that could have essentially exposed everyone with a credit record in the US:

Equifax, a provider of consumer credit reports, said it experienced a data breach affecting as many as 143 million US people after criminals exploited a vulnerability on its website. The US population is about 324 million people, so that’s about 44% of its population.

Equifax said:

Criminals exploited a US website application vulnerability to gain access to certain files…

Probably yours, 143 million credit records were exposed. Equifax is offering free credit monitoring to anyone affected, but that’s a cheap make-good for compromising the credit information of almost everyone in the US with an Equifax credit file. That includes anybody who ever had a credit card, or completed a loan application in the past 25 years.

Needless to say, consider your identity compromised, and take steps before Equifax strikes again. If you’re wondering whether heads will roll at Equifax, don’t fret. It looks like they knew what was coming, and acted in their own self-interest:

Three Equifax Inc. senior executives sold shares worth almost $1.8 million in the days after the company discovered a security breach that may have compromised information on about 143 million U.S. consumers.

Equifax says that it discovered the intrusion on July 29.

Regulatory filings show that three days later, Chief Financial Officer John Gamble sold shares worth $946,374 and Joseph Loughran, president of US information solutions, exercised options to dispose of stock worth $584,099. Rodolfo Ploder, president of workforce solutions, sold $250,458 of stock on Aug. 2. None of these transactions were listed as part of 10b5-1 pre-scheduled trading plans, so they most likely were spur-of-the-moment.

In other words, these titans of capitalism knew for over a month, but didn’t tell anyone, and then sold shares before revealing the breach. BTW, Equifax’s stock crashed on the news. We used to call that insider trading, but we no longer expect corporate America to pay for its mistakes.

In a society that respected its laws, these guys would be already in jail. Not only have they hidden the attacks, giving people less time to react, but they have also sold their shares using privileged information.

The corporate rats always jump ship before the boat sinks.

In honor of Hurricane Irma, and to help those who have boarded up, filled the tank and moved out, we have two pieces of music today. For the fans of popular music, here is “Ridin’ The Storm Out”, from the 1973 album of the same name, by REO Speedwagon:

Takeaway Lyric:
The wind outside is frightening

But it’s kinder than the lightning

Life in the city it’s a hard life to live

But it gives back what you give

Those who read the Wrongologist in email can view the video here.

And for those who wish to be contemplative while experiencing the devastation, or awaiting news of it, grab a hot steaming cup of Georgio’s Colombia Pink Bourbon Los Cedrol coffee. Now, put on your headphones, and listen to Rossini’s “La Tempesta – VI Sonata a quattro in D major” for two violins, violoncello and double bass. Rossini wrote this in 1804, when he was 12 years old. Go ahead, eat your heart out, you’re unlikely to be that good, ever. This version is performed by Orchestra Atalanta Fugiens, conducted by Vanni Moretto:

 

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Saturday Soother – September 2, 2017

(Wrongo is ceasing labor for Labor Day weekend. Blogging will resume on Tuesday, 9/5. Enjoy the fruits of your labor!)

The Daily Escape:

Harbin Opera House, Harbin, China – 2015 photo by Hufton Crow. Harbin is China’s eighth-most populous city. It is located in the extreme northeast of China.

Feeling anxious? Seeing too much of the devastation in Houston?

Amazing what it takes to push the Trumpet off the front pages for a couple of days. The clean-up and rebuild will take years, the scale of the losses are beyond imagining.

To top that, Lil’ Kim fired a missile across Japan, and onto the front pages. Appropriately, it wasn’t important enough to move Harvey out of our consciousness, but it showed we need to pay more attention to North Korea (NK). You probably think of NK as a backward place, but according to the Economist, its 25 million citizens are surprisingly well-wired:

Perhaps half of all urban households now own a Chinese-made “Notel”, a portable media player. Over 3m have mobile-phone subscriptions, with NK-branded smartphones like the Pyongyang and the Arirang. South Korean NGOs that smuggle foreign films and TV shows into the North on USBs receive text messages from their contacts there with requests for specific titles (South Korean soaps and Hollywood dramas are popular).

The NK government abetted the communications revolution. In 2008, it developed a 3G network. Today, there are more sanctioned NK mobile phones than illegal Chinese ones. Many use them to conduct business on the black market, by checking prices elsewhere in the country. Notels can be bought for around $50 on the black market, sold in state-run shops.

Since Kim Jong Un came to power, signal jammers for mobile phones have been set up along the border with China. These are powerful enough to ruin cell service for Chinese living on the other side. North Koreans are banned from calling abroad.

Most North Koreans do not have access to the internet, and the few who are allowed to go online are limited to a state-run intranet with 28 mediated websites. The Economist says that NK censorship tools have allowed the regime to automate surveillance. For example, they have the ability to make unsanctioned media files on phones and Notels unreadable. TraceViewer is installed by default on NK phones. It takes random screenshots of users’ devices, so big brother is always watching.

Kim Jong-Un’s calculation is that technology allows it to gain more control than it loses. It dictates what kinds of handsets North Koreans use; it can shut off the mobile network whenever necessary. The appeal to the regime is that it knows it can’t keep all information out, so it is better to monitor it.

Makes Kim seem like a rational actor. Let’s hope so.

And let’s try to forget about this past week for a few hours, as we start the Labor Day weekend. The thought of Labor Day always reminds Wrongo of the lyric from the Jackson Browne tune, “The Loadout”:

They’re the first to come and the last to leave,

Workin’ for that minimum wage

The Loadout” was recorded live in Maryland at a show in August, 1977. Browne had been working on the idea with his band, but they didn’t have an arrangement they liked. When Browne did three encores, they were out of material, but still wanted to play. Russ Kunkel (the drummer) suggested they play the new song and see what happened. The resulting performance was good enough to make the album, “Running on Empty”.

It was the first time the band played the song, and they created a medley with it, segueing into “Stay (Just a Little Bit Longer)”, with Rosemary Butler on vocals along with David Lindley doing the falsetto.

Find a cup of Joyride Coffee’s Cold-brew (sadly, only available in kegs at a barista near you) and listen to “The Loadout”:

Those who read the Wrongologist on the execrable Feedburner can view the video here.

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