Fauci And Others Openly Discuss Their Intent to Enforce A mRNA Type Flu Vaccine – In 2019

<p class="has-text-align-justify"><strong>An explosive video of Fauci with Health and Human Services (“HHS”) officials and other health experts discussing how to enforce a mRNA-based universal flu vaccine is circulating on social media.  The video clip is taken from a forum hosted by the Milken Institute in October 2019.  Panellists include Anthony Fauci, Michael Specter and Rick Bright.</strong></p> <p class="has-text-align-justify"><a href="https://www.michaelspecter.com/about/">Michael Specter</a> is a journalist who has been a staff writer at The New Yorker since 1998.</p> <p class="has-text-align-justify"><a href="https://theexpose.uk/?s=fauci">Anthony Fauci</a> requires no introduction.  His role in the current pandemic is widely publicised from: <a href="https://theexpose.uk/2021/09/10/fauci-lied-millions-died/">directing National Institutes of Health (“NIH”) funding</a> to gain-of-function research on coronaviruses; <a href="https://theexpose.uk/2021/06/08/dr-fauci-ignored-email-from-physicist-claiming-that-hydroxychloroquine-could-effectively-treat-covid-19/">ignoring hydroxychloroquine</a> (“HCQ”) as a treatment for Covid; issuing diktats such as <a href="https://theexpose.uk/2021/08/10/dr-fauci-says-forget-freedom-we-need-to-make-the-covid-19-vaccines-mandatory-for-schools/">“forget freedom” and make Covid injections mandatory</a>; the injection fraud that is the “Covid vaccine”; to, the part he has played in the coronavirus <a href="https://theexpose.uk/2021/08/28/allegations-of-covid-19-fraud-crimes-against-humanity-deliverd-to-texas-senators-and-governors/">criminal conspiracy and racketeering enterprise</a> which began in 1999 and has culminated in the current pandemic.</p> <p class="has-text-align-justify">Dr. Rick Bright, formerly a director of the US Biomedical Advanced Research and Development Authority (“BARDA”), was <a href="https://www.bbc.co.uk/news/world-us-canada-52400721">ousted in March /April 2020 by the Trump administration</a> after filing a whistle-blower complaint about the HHS’s promotion of HCQ as a treatment for Covid.  According to Dr. Vladimir Zelenko, <a href="https://www.ourfreedomtube.com/watch/death-sentence-special-thanks-to-dr-rick-bright_JBxj4jHmbRUhiE2.html">Bright blocked access to HCQ</a> and “this obstruction to life-saving medication was a death sentence for over 500,000 Americans.”  In March 2021, <a href="https://www.rockefellerfoundation.org/news/dr-rick-bright-joins-the-rockefeller-foundation-to-lead-pandemic-prevention-institute-development/">Bright joined The Rockefeller Foundation</a> as Senior Vice President of Pandemic Prevention and Response.</p> <p class="has-text-align-justify">At the ‘Universal Flu Vaccine’ forum in 2019, Bright said “there may be a need, even an urgent call, for an entity of excitement out there which is completely disruptive, not beholden to bureaucratic strings and processes” and Fauci agreed. </p> <p class="has-text-align-justify">Bright also said: “it is not too crazy to think that an outbreak of a novel avian virus could occur in China somewhere. We could get the RNA sequence from that and beam it to a number of regional centres, if not local, if not even in your home at some point, and print those vaccines on a patch to be self-administered.”</p> <figure class="wp-block-video aligncenter wp-block-embed is-type-video is-provider-videopress"> <figcaption>Universal Flu Vaccine, Washington D.C., 28 – 30 October 2019</figcaption> </figure> <p class="has-text-align-justify">The clip above was taken from a forum hosted by the <a href="https://milkeninstitute.org/">Milken Institute</a>.  You can watch the full forum’s discussion <a href="https://www.c-span.org/video/?465845-1/universal-flu-vaccine">HERE</a> on C-Span or <a href="https://www.bitchute.com/video/Ssj2mvpOyA0Q/">HERE</a> on Bitchute.</p> <p>Read more:</p> <h3><strong>The Milken Institute</strong></h3> <p class="has-text-align-justify">The <a href="https://en.wikipedia.org/wiki/Milken_Institute">Milken Institute (“MI”)</a> is an economic think tank based in California. It publishes research and hosts conferences that apply market-based principles and financial innovations to social issues.  Its <a href="https://milkeninstitute.org/support">strategic partners</a> include the usual suspects such as various financial institutions and The Rockefeller Foundation.</p> <p class="has-text-align-justify">MI was founded in 1991 by its chairman <a href="https://milkeninstitute.org/staff/mike-milken">Michael Milken</a>.  <a href="https://www.institutionalinvestor.com/article/b1kdhwbh80t31l/Michael-Milken-Pardoned-by-President-Trump">In 1990 Milken was convicted</a> of securities fraud and last year was given a pardon by President Trump. The White House statement called the charges against Milken – of which there were originally 98 — “truly novel.”</p> <p class="has-text-align-justify">Like the World Economic Forum (“WEF”), MI has annual Global Conferences which have been called “<a href="https://www.forbes.com/sites/luisakroll/2014/05/07/conference-face-off-milken-vs-davos/?sh=307c1fd815bd">Davos with Palm Trees</a>.”  And like WEF’s Young Global Leaders, MI has their Young Leaders Circle.  Another similarity is that both receive money from the Bill & Melinda Gates Foundation (“BMGF”).  BMGF has granted <a href="https://theexpose.uk/2021/09/30/the-gates-foundation-has-funded-swiss-institutions-us13-billion-with-us4-billion-going-to-who/">US$3,3 million to WEF</a> and US$4,4 million to MI over the last couple of decades.</p> <p class="has-text-align-justify">MI, like WEF, seems to be pressing a ‘sustainability’ message and although there are a number of similarities between the two organisations there are also some differences.  One significant difference being the price of admission.  In 2014 Milken was US$8,500 – US$12,500 while Davos was US$87,000.  And, the participants of MI’s Global Conference are more hardcore finance, while Davos’ are more government-centric.</p> <p class="has-text-align-justify">Apart from the obvious BMGF common connection, there are visible direct links between MI and WEF.  For example, a <a href="https://www.weforum.org/search?query=milken+institute">search for “Milken Institute” on WEF’s website</a> returns 163 results between 2012 and 2021, and MI is one of 10 named core collaborators on WEF’s ‘<a href="https://www.weforum.org/whitepapers/global-standards-mapping-initiative-an-overview-of-blockchain-technical-standards">Global Standards Mapping Initiative: An overview of blockchain technical standards</a>’. </p> <h3><strong>Universal Flu Vaccine Links with the Oxford/AstraZeneca Covid Injection</strong></h3> <p class="has-text-align-justify">University of Oxford’s Sarah Gilbert and Adrian Hill <a href="https://www.thetimes.co.uk/article/oxford-coronavirus-vaccine-may-be-financial-shot-in-the-arm-for-huawei-jf792n9bd">created Vaccitech in 2016</a> and it is Vaccitech which holds the <a href="https://altnews.org/2021/07/22/the-latest-google-censorship-due-to-their-vaccine-investment/">patents and royalty rights for AstraZeneca’s</a> Covid injection.</p> <p class="has-text-align-justify">Prior to Covid, Vaccitech’s main focus, especially in 2019, was the <a href="https://www.nature.com/articles/d41586-019-02751-w">development of a universal vaccine for the flu</a>. To fully finance Hill and Gilbert’s Vaccitech, and specifically its quest to develop a universal flu vaccine, Oxford Science Innovations sought £600 million from “outside investors,” chief among them the Wellcome Trust and the <a href="https://www.sciencealert.com/universal-flu-vaccine-funded-by-gv-clinical-trials">venture-capital arm of Google, Google Ventures</a>.</p> <p class="has-text-align-justify">At the same time, BMGF was also funding research to develop a universal flu vaccine.  The BMGF effort originally partnered with Google’s co-founder Larry Page and his wife Lucy.   But, in 2017, BMGF joined forces with governmental and non-governmental organizations to form the <a href="https://unifluvac.org/members/">Global Funders Consortium for Universal Influenza Vaccine Development</a> to “support the creation of a universal influenza vaccine.”</p> <p class="has-text-align-justify">In 2018, the National Institute of Allergy and Infectious Diseases (“NIAID”) unveiled a strategic plan for research efforts and a <a href="https://www.fiercepharma.com/vaccines/thinking-developing-a-truly-universal-flu-vaccine-bill-gates-and-larry-page-challenge-you">bill was introduced by several US senators</a> calling for $1 billion over the following five years for development of a universal flu vaccine. By this time, as indicated above, both BMGF and Page’s <a href="https://abc.xyz/">Alphabet</a> (Google) were already involved, having put down money for private developers CureVac and Vaccitech, respectively.</p> <p class="has-text-align-justify">In 2019, Fauci, Director of NIAID – NIAID being one of the 27 institutes and centres that make up the NIH – was a panellist at the MI’s forum discussing, or rather promoting, a universal flu vaccine.</p> <p>Read more:</p> <figure class="aligncenter wp-block-post-featured-image"><img alt="" class="attachment-post-thumbnail size-post-thumbnail wp-post-image jetpack-lazy-image" data-attachment-id="20235" data-comments-opened="1" data-image-caption="" data-image-description="" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="Feature-2" 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individual who calls themselves Spartacus …</p> </div> </div> <div class="wp-block-coblocks-post-carousel__item" readability="14.47619047619"> <div class="wp-block-coblocks-post-carousel__content" readability="15.380952380952"><time datetime="2021-10-06T11:00:00+01:00" class="wp-block-coblocks-post-carousel__date">October 6, 2021</time><a href="https://theexpose.uk/2021/10/06/ill-just-have-a-glass-of-fluoride-please-putting-fluoride-into-drinking-water-does-more-harm-than-good/" alt="“I’ll just have a glass of Fluoride please” – Putting Fluoride into drinking water does more harm than good">“I’ll just have a glass of Fluoride please” – Putting Fluoride into drinking water does more harm than good</a> <p>The UK’s four chief medical officers (including the inevitable and, to me, …</p> </div> </div> <div class="wp-block-coblocks-post-carousel__item" readability="13.287610619469"> <div class="wp-block-coblocks-post-carousel__content" readability="14.495575221239"><time datetime="2021-10-06T09:20:03+01:00" class="wp-block-coblocks-post-carousel__date">October 6, 2021</time><a href="https://theexpose.uk/2021/10/06/report-younger-males-are-at-a-higher-risk-of-myocarditis-following-covid-19-vaccine-vaers-cases-are-just-the-tip-of-the-iceberg/" alt="REPORT: Younger Males Are at a Higher Risk of Myocarditis Following Covid-19 Vaccine, VAERS Cases are “Just the Tip of the Iceberg”">REPORT: Younger Males Are at a Higher Risk of Myocarditis Following Covid-19 Vaccine, VAERS Cases are “Just the Tip of the Iceberg”</a> <p>A recent report authored by Peter McCullough, MD, and Jessica Rose, PHD, …</p> </div> </div> </div> </div> <div class="wp-block-image"> <figure class="aligncenter size-full is-resized"><a href="https://gab.com/dailyexpose"><img alt="" class="wp-image-12593" data-attachment-id="12593" data-comments-opened="1" data-image-caption="" data-image-description="" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="image-83" data-large-file="https://i2.wp.com/theexpose.uk/wp-content/uploads/2021/08/image-83.png?fit=300%2C100&ssl=1" data-medium-file="https://i2.wp.com/theexpose.uk/wp-content/uploads/2021/08/image-83.png?fit=300%2C100&ssl=1" data-orig-file="https://i2.wp.com/theexpose.uk/wp-content/uploads/2021/08/image-83.png?fit=300%2C100&ssl=1" data-orig-size="300,100" data-permalink="https://theexpose.uk/2021/08/11/indiana-doctor-destroys-cdc-covid-narrative-at-school-board-meeting/image-83-7/" data-recalc-dims="1" height="67" loading="lazy" src="https://i2.wp.com/theexpose.uk/wp-content/uploads/2021/08/image-83.png?resize=199%2C67&ssl=1" width="199" /></a></figure> </div> </div> </div> <a title="Share this page to Telegram"><img alt="Share this page to Telegram" class="wpts-teleg-icon" src="https://theexpose.uk/wp-content/plugins/wp-telegram-sharing/img/t-logo.svg" width="64" /></a> <h3 class="jp-relatedposts-headline"><em>Related</em></h3> <br /> <br /> source <a href="https://theexpose.uk/2021/10/07/fauci-and-others-openly-discuss-their-intent-to-enforce-a-mrna-type-flu-vaccine-in-2019/">https://theexpose.uk/2021/10/07/fauci-and-others-openly-discuss-their-intent-to-enforce-a-mrna-type-flu-vaccine-in-2019/</a>

revolution Fauci And Others Openly Discuss Their Intent to Enforce A mRNA Type Flu Vaccine – In 2019

An explosive video of Fauci with Health and Human Services (“HHS”) officials and other health experts discussing how to enforce a mRNA-based...

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Supply chain havoc is getting worse — just in time for holiday shopping

<div><img class="ff-og-image-inserted" src="https://cdn.vox-cdn.com/thumbor/8Ug3kRZO5ZGwF9WN7DDymEyTmkc=/0x438:4200x2637/fit-in/1200x630/cdn.vox-cdn.com/uploads/chorus_asset/file/22908257/GettyImages_1229823573.jpg" /></div> <p>Best Buy has revealed a curious way to cash in on worldwide shortages and shipping delays: subscriptions. This week, the company announced <a href="https://www.businesswire.com/news/home/20211005005805/en/Best-Buy-Totaltech%E2%84%A2-Now-Available-Nationwide">a $200-a-year program</a> that promises consumers lower prices and exclusive access to hard-to-find devices. While the new membership also includes 24/7 tech support and free shipping, the idea of guaranteed product availability might be particularly appealing to shoppers worried that their orders won’t arrive in time for the holidays.</p> <p>The new Best Buy service is a stark reminder that retailers don’t anticipate that supply chain issues, including <a href="https://www.vox.com/recode/2021/8/5/22611031/chip-shortage-cars-electronics-automakers-gm-tesla-playstation-xbox">the global semiconductor chip shortage</a>, are going away anytime soon. In fact, it looks like they’re getting worse. <a href="https://apnews.com/article/coronavirus-pandemic-technology-business-health-hurricanes-46bce9cc36dab2b330309dae0354cf53">A supply crunch</a> for petrochemicals, which are used in everything from paint to plastics, has raised the prices on all kinds of products. Meanwhile, <a href="https://www.scmp.com/week-asia/economics/article/3151021/asia-braces-fallout-china-and-europe-face-energy-crunch">an emerging energy crunch</a> in China has led to power cuts that have closed factories and disrupted daily life there. These recent developments are compounding the existing problems with the global supply chain and making logistical bottlenecks worse. Combine that with <a href="https://www.fastcompany.com/90678954/the-14-trillion-reason-you-should-care-about-the-shipping-container-shortage">an ongoing shortage of shipping containers</a> and <a href="https://www.bloomberg.com/news/articles/2021-08-02/a-trucking-crisis-has-the-u-s-looking-for-more-drivers-abroad">truck drivers</a>, and the end result is a huge slowdown in the delivery of goods.</p> <p>“You’ve got labor-related issues. You’ve got issues of lack of availability of empty containers and space on vessels. Port congestion here in the United States, workforce issues with trucker availability and warehouse workers,” Jon Gold, a vice president for supply chain and customs policy at the National Retail Federation, told Recode. “The entire system has been stretched.”</p> <p>While retailers are racing to import the goods and gadgets they think consumers will want during the holiday shopping season, the growing list of shortages has made it difficult for them to find enough stock. Now, experts say consumers should expect higher prices, delays, and opportunistic resellers as Black Friday and Cyber Monday draw closer. And for the next six months to a year, we just won’t see the same variety of products that we’re used to, according to Patrick Penfield, <a href="https://whitman.syr.edu/directory/showInfo.aspx?nid=pcpenfie">a supply chain professor</a> at Syracuse University.</p> <p>Gadgets are particularly vulnerable to shortages because they include many different components. Consider all the parts that go into a PlayStation 5 or a new laptop, including their chips, outer shells, and screens. Many of these components require their own specialized manufacturing facilities, which are typically in different factories and often in different countries. For a device to be delivered on time, all of these parts need to be made in sync. Right now, that’s not happening.</p> <p>“A lot of people who are working on this don’t really understand how diverse all the components that go into supply chains are,” Willy Shih, a <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=194874">business administration professor at Harvard</a>, told Recode in August. “They don’t understand that I need capacitors. They don’t understand that I need power management chips. They don’t understand that I need inductors.”</p> <p>Demand for these components has run up against efforts to contain Covid-19 in the countries where the production and assembly of many goods actually take place. Amid a recent delta variant outbreak and nationwide lockdown in Malaysia<strong>,</strong> the government <a href="https://www.wsj.com/articles/covid-19-surge-in-malaysia-threatens-to-prolong-global-chip-shortage-11630234802">designated electronics manufacturers</a> critical businesses so that production could continue. In May, Vietnam <a href="https://www.bloomberg.com/news/articles/2021-05-31/vietnam-asks-samsung-other-firms-to-find-vaccines-for-workers?sref=Wg6QzS2e">directed vaccines directly to factory workers</a>, while urging smartphone manufacturers working in the country, like Samsung, to do the same. (Vietnam’s Covid-19 challenges haven’t gone away: This past weekend, tens of thousands of workers fled the <a href="https://www.bloomberg.com/news/articles/2021-10-07/vietnam-warns-of-mass-worker-exodus-from-industrial-areas">country’s commercial center</a> after the government, which is still <a href="https://www.npr.org/2021/09/13/1036533872/vietnam-speeds-up-vaccinations-with-over-a-million-jabs-in-hanoi-over-the-weeken">struggling to access vaccines</a>, lifted pandemic lockdown restrictions.)</p> <p>Now, planned power outages aimed at curbing energy use in China are making electronics manufacturing increasingly complicated. The situation is a consequence of several interwoven problems, including <a href="https://www.reuters.com/business/energy/worldwide-energy-shortage-shows-up-surging-coal-gas-oil-prices-kemp-2021-09-24/">a global surge in fossil fuel prices</a>; a dispute between China and Australia, which is one of the <a href="https://www.reuters.com/world/asia-pacific/china-turns-stranded-australian-coal-combat-power-crunch-trade-2021-10-05/">country’s main suppliers of coal</a>; and China’s efforts to curb pollution <a href="https://www.washingtonpost.com/business/energy/how-chinas-pollution-fight-is-roiling-commodities/2021/09/19/38a0dd4c-19be-11ec-bea8-308ea134594f_story.html">ahead of the Winter Olympic Games</a>. The resulting electricity cuts have had a devastating effect on people’s daily lives and left <a href="https://www.latimes.com/world-nation/story/2021-10-02/china-power-shortage-energy-coal-climate">some homes and classrooms without power and water</a>.</p> <p>China’s energy crunch has also forced many factories, including those that build components for <a href="https://asia.nikkei.com/Business/Technology/Apple-suppliers-warn-China-s-energy-rules-threaten-supply-chain">Apple, Dell, Tesla, and Microsoft</a>, to pause or cut down on production. Meanwhile, appliance manufacturers and automakers in the country are bracing for a shortage of metal after <a href="https://www.reuters.com/world/china/chinas-metal-consumers-feel-supply-sting-forced-power-cuts-2021-09-29/">metal smelters limited operations</a>. Power shortages <a href="https://asia.nikkei.com/Business/Technology/Key-Apple-Tesla-suppliers-halt-production-amid-China-power-crunch">are likewise hindering</a> companies responsible for things like chip packaging, chip testing, and phone assembly.</p> <p>On top of all this, the shortage of petrochemicals, which are derived from oil, has made it more difficult and expensive to produce all sorts of goods, including paint, adhesives, and food packaging. In recent weeks, the price of polyvinyl chloride, a chemical used to make plastic, has surged <a href="https://apnews.com/article/coronavirus-pandemic-technology-business-health-hurricanes-46bce9cc36dab2b330309dae0354cf53">70 percent</a>. Without those raw materials, makers of everything from credit cards to medical devices to cars are having an even harder time keeping up production.</p> <p>“What will happen is that a phone will be delayed because they’re waiting on their plastic supplier, and the plastic supplier is waiting on the ingredient,” Penfield, the Syracuse professor, said. “It just takes one supplier — and it could be the base ingredient supplier — to fully screw up your supply chain.”</p> <p>The disruptions in petrochemical manufacturing have many causes, but some are linked to companies that still haven’t recovered <a href="https://www.pbs.org/newshour/economy/chemical-shortage-inflates-paints-and-plastics-prices">from the winter storm in Texas</a> and several recent hurricanes along the Gulf Coast. This correlation shows how extreme weather exacerbated by climate change is having unanticipated ripple effects across many industries.</p> <p>All these problems mean that consumers are seeing rising prices and shipping delays for a wide range of products. So those looking ahead to the holiday shopping season might want to get an early start, and not just on consumer electronics. As Vox’s Terry Nguyen <a href="https://www.vox.com/the-goods/22650965/supply-chain-delays-2021-ongoing">reported last month</a>, almost everything people might want to purchase for the holidays seems to be vulnerable to snags in the global supply chain:</p> <blockquote> <p>Here is an incomplete list of consumer goods that have been subject to backorders, delays, and shortages: <a href="https://www.businessoffashion.com/articles/retail/shopping-is-back-but-where-are-the-new-clothes">new clothes</a>, <a href="https://www.cnn.com/2021/07/22/business/back-to-school-shopping-shortages/index.html">back-to-school supplies</a>, <a href="https://www.marketwatch.com/story/why-is-there-a-bicycle-shortage-its-got-a-lot-to-do-with-why-fireworks-are-scarce-11622751152">bicycles</a>, <a href="https://www.reuters.com/business/retail-consumer/pet-food-shortages-leave-owners-hunt-kibble-cat-treats-2021-07-29/">pet food</a>, <a href="https://www.newschannel10.com/2021/08/27/paint-suppliers-experiencing-shortage-paint-pandemic-is-not-only-reasons/">paint</a>, <a href="https://money.yahoo.com/foam-shortage-affecting-furniture-automotive-123500451.html">furniture</a>, <a href="https://www.vox.com/recode/2021/8/5/22611031/chip-shortage-cars-electronics-automakers-gm-tesla-playstation-xbox">cars</a>, <a href="https://www.vox.com/recode/2021/8/5/22611031/chip-shortage-cars-electronics-automakers-gm-tesla-playstation-xbox">tech gadgets</a>, <a href="https://www.cnn.com/2021/08/29/business/toy-shortage-supply-chain-shipping-holidays/index.html">children’s toys</a>, <a href="https://www.ft.com/content/9a497f21-e3e4-4c74-8737-07cd13209475">home appliances</a>, <a href="https://www.vox.com/22410713/lumber-prices-shortage">lumber</a>, <a href="https://www.bloomberg.com/graphics/2021-chip-production-why-hard-to-make-semiconductors/">anything that relies on semiconductor chips</a>, and even coveted fast food staples like <a href="https://www.vox.com/22421095/chicken-wings-shortage-delivery-bar">chicken wings</a>, <a href="https://www.wsj.com/articles/the-new-shortage-ketchup-cant-catch-up-11617645189?mod=article_inline">ketchup packets</a>, <a href="https://www.cnn.com/2021/07/20/business/taco-bell-shortage/index.html">Taco Bell</a>, Starbucks’ <a href="https://www.wsj.com/articles/starbucks-runs-short-on-cups-and-syrup-as-covid-19-eases-11623287198">cake pops</a>, and <a href="https://www.theguardian.com/business/2021/aug/24/mcdonalds-runs-out-of-milkshakes-due-to-supply-chain-issues">McDonald’s milkshakes</a> (in the UK, for now).</p> </blockquote> <p>“Most likely, there will be some shortages on specific products over the holiday season,” Seckin Ozkul, from the University of South Florida’s Supply Chain Innovation Lab, said. “So, if consumers know what they want to buy for their loved ones for the holiday season, now is a good time to act on it.”</p> <p>Beyond buying early and paying more, there are other ways customers can adapt. Shoppers should consider purchasing products that aren’t their first choice, since some items, like the PlayStation 5, will likely be in short supply <a href="https://www.businessinsider.com/playstation-5-sold-out-through-2022-2021-5">until sometime next year</a>. When buying online, it may be worth looking to see if local stores have a curbside pick-up option. (One helpful tool for this is Google Shopping, which can include information about where an item is in stock at nearby retailers.)</p> <p>Another strategy is just to avoid online shopping altogether and buy items in stores, the old-fashioned way. Bigger chains like Walmart and Home Depot have the <a href="https://www.axios.com/holidays-toys-shopping-shortages-pandemic-sales-d22f86a4-2bbe-4ba7-b871-34fd375ab4f0.html">resources to charter their own cargo ships</a>, and they seem less likely to be out of items. Best Buy, of course, is hoping that some people will consider paying $200 to secure access to in-demand products, though the company hasn’t shared which products that program will include.</p> <p>Regardless of how customers choose to prepare, they shouldn’t assume that supply chain problems will be resolved before the holidays. Given how easily shortages compound other shortages, there doesn’t seem to be an end date in sight.</p> <br /> <br /> source <a href="https://www.vox.com/recode/22714507/shipping-delays-chip-shortage-holiday-shopping">https://www.vox.com/recode/22714507/shipping-delays-chip-shortage-holiday-shopping</a>

vox Supply chain havoc is getting worse — just in time for holiday shopping

Best Buy has revealed a curious way to cash in on worldwide shortages and shipping delays: subscriptions. This week, the company announced ...

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The trillion-dollar coin scheme, explained by the guy who invented it

<p>On Tuesday, the Treasury secretary of the United States, Janet Yellen, finally said it: <a href="https://www.reuters.com/world/us/yellen-says-debt-ceiling-hike-utterly-essential-opposes-platinum-coin-gimmick-2021-10-05/">She does not intend to mint a platinum coin worth $1 trillion</a> to pay for the US government’s expenses.</p> <p>If you are not familiar with the platinum coin idea, or the hashtag #MintTheCoin, or the small army of Coinistas who have become a vocal part of economics and finance circles since the early 2010s, you may be asking: What the hell are you talking about?</p> <p>The (sorta) short answer is that <a href="https://www.ft.com/content/dc589573-0284-409e-a3df-9a4b102569ac">later this month</a>, the US will exceed the legal limit on how much outstanding debt the federal government can hold — the debt ceiling. Senate <a href="https://www.nytimes.com/2021/10/06/us/politics/debt-ceiling-congress-republicans.html">Republicans have agreed to allow an extension</a> through December, but that just sets up another confrontation in a few months. To avert the global economic catastrophe that might ensue if the US exceeds the debt limit, some observers have broached <a href="https://www.vox.com/policy-and-politics/22684328/us-debt-ceiling-government-shutdown-biden-democrats">some truly absurd ideas</a>.</p> <p>Enter #MintTheCoin.</p> <p>A 1997 law intended to help the Mint make money off of coin collectors gives the Treasury secretary the power to mint platinum coins of any denomination, for any reason. When commentators discovered this law during the 2011 and 2013 debt ceiling battles, they realized that this power could offer a way to sidestep the legal cap Congress places on the federal government’s borrowing.</p> <p>Instead of issuing new debt and running afoul of the debt ceiling, the Treasury secretary could simply fund the government by minting platinum coins. In 2013, even former US Mint Director <a href="https://www.businessinsider.com/mint-the-coin-former-mint-director-philip-diehl-explains-why-the-trillion-dollar-coin-law-would-work-2013-1">Philip Diehl agreed it would work</a>, and over the years, influential voices like financial journalist <a href="https://www.businessinsider.com/why-the-mint-the-coin-debate-could-be-the-most-important-fiscal-policy-debate-youll-ever-see-in-your-life-2013-1">Joe Weisenthal</a> and New York Times columnist <a href="https://www.nytimes.com/2021/10/06/us/politics/debt-ceiling-congress-republicans.html">Paul Krugman</a> have also promoted the idea.</p> <p>But all these people did not simply stumble upon this law. It was <a href="https://www.wired.com/2013/01/trillion-dollar-coin-inventor/">brought to their attention by Beowulf</a>, a blog commenter and “reply guy” better known as Atlanta-area attorney Carlos Mucha. Mucha conceived of the idea in a short <a href="https://web.archive.org/web/20100605161541/http://moslereconomics.com/2010/05/14/marshalls-latest/">comment on financier Warren Mosler’s blog</a> posted on May 24, 2010, at 8:29 pm:</p> <blockquote> <p>Curiously enough Congress has already delegated to Tsy [Treasury] all the seignorage power authority it needs to mint a $1 trillion coin (even numismatic coins are legal tender at their face value and must be accepted by the Federal Reserve)– the catch is, its gotta be made of platinum (ditto the balls of any President who tried this). So for a 1 oz. coin, Tsy would net only $999.998 Billion :o)</p> </blockquote> <p>From this modest post, a trillion-dollar idea sprouted, one that has come to influence fiscal policy discussions in the US at the highest levels.</p> <p>I reached out to Carlos Mucha on his natural sparring grounds, <a href="https://twitter.com/mucha_carlos">Twitter</a>, and we talked a bit via direct message about how he started the #MintTheCoin craze, how it got the attention of policymakers, and how to get out of the current debt ceiling crisis. Our DM conversation, edited for length and clarity, follows.</p> <h4>Dylan Matthews</h4> <p>Tell me the basic story of the trillion-dollar coin idea. How did it go from you posting in a blog comment thread to being something the president and his advisers talk about?</p> <h4>Carlos Mucha</h4> <p>The idea developed on the forum of Warren Mosler’s website in 2010. Warren is [a] founder of <a href="https://www.vox.com/future-perfect/2019/4/16/18251646/modern-monetary-theory-new-moment-explained">Modern Monetary Theory</a>, which is quite popular among progressives these days. [Modern Monetary Theory, or MMT, is a heterodox school of economics that argues that concerns about the national debt are often overblown.] Anyway, the crowd was brainstorming on how to avoid a default if Congress didn’t lift the debt ceiling and I came across the <a href="https://www.law.cornell.edu/uscode/text/31/5112">platinum coin subsection (k) of the Coinage Act</a>.</p> <p>I <a href="https://shadowproof.com/2011/01/03/coin-seigniorage-and-the-irrelevance-of-the-debt-limit/">blogged about it</a> a bit back then and it was picked up by other bloggers and then journalists and just snowballed from there.</p> <p><a href="https://smile.amazon.com/dp/B003KVKQB4/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1" has-subtag="true" data-cdata='{"rewritten_url":"https://smile.amazon.com/dp/B003KVKQB4/ref=dp-kindle-redirect?_encoding=UTF8\u0026btkr=1\u0026ascsubtag=[]vx[p]22475387[m]m-placeholder[s]s-placeholder[t]w[c]c-placeholder[r]r-placeholder[d]d-placeholder","subtag_max_length":99,"subtag_delim_length":2,"subtag_key":"ascsubtag","subtag_data":{"_encoding":"UTF8","btkr":"1","ascsubtag":"[]vx[p]22475387[m]m-placeholder[s]s-placeholder[t]w[c]c-placeholder[r]r-placeholder[d]d-placeholder"},"encode_subtag":false}'>Naomi Klein’s <em>Shock Doctrine</em></a> book describes how conservatives in this country and abroad use a crisis — natural disasters and other unexpected calamities — to push through policies that would never win legislative support. What happened was, in the Obama administration, his Republican adversaries realized they could actually plan a crisis by refusing to increase the debt ceiling and then use the shock doctrine to push through their desired policy (spending cuts and, if they can get away with it, tax cuts too).</p> <p>Here’s the thing. Republicans know that by and large <a href="https://www.chicagotribune.com/news/ct-xpm-2004-01-12-0401120168-story.html">Dick Cheney was right</a>: Deficits don’t matter; Reagan taught us that. It’s possible that Reagan didn’t teach Cheney that but rather [Cheney’s] best friend in the DC power circle, Don Rumsfeld.</p> <p>And where did Rumsfeld learn this? Warren Mosler. [<a href="http://moslereconomics.com/2011/08/04/mmt-history-and-overview/">Mosler has said he devised MMT</a> after a discussion with Rumsfeld in the steam room of the Racquet Club in Chicago.]</p> <p>So Republicans know deficit and debt fears are overblown, but Democrats do not. So we see Carter, Clinton, and Obama clean up the balance sheet and enable Reagan, Bush, and Trump to come in and cut taxes. Progressives have [now] caught on to the game, which is why the trillion-dollar coin (and big spending plans of Bernie Sanders and AOC) resonate with the Democratic base. Anyway, that’s what I think is going on.</p> <h4>Dylan Matthews</h4> <p>How did you get interested in Warren Mosler and his forum? What made that a preferred place for you to post?</p> <h4>Carlos Mucha</h4> <p>I don’t even remember how I landed at Warren’s site, but he’s a genuinely cool guy and is always ready to engage with readers on his board.</p> <p>It helped that he was simpatico with two economists that I was already a fan of: <a href="https://en.wikipedia.org/wiki/William_Vickrey">William Vickrey</a> (who had introduced Warren to the other post-Keynesian economists, <a href="https://en.wikipedia.org/wiki/Bill_Mitchell_(economist)">Bill Mitchell</a> and <a href="https://en.wikipedia.org/wiki/L._Randall_Wray">Randy Wray</a>, that helped develop MMT), and <a href="https://en.wikipedia.org/wiki/James_K._Galbraith">Jamie Galbraith</a>, who wrote the foreword to <a href="https://smile.amazon.com/Deadly-Innocent-Frauds-Economic-Policy-ebook/dp/B0092IUG00/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=" has-subtag="true" data-cdata='{"rewritten_url":"https://smile.amazon.com/Deadly-Innocent-Frauds-Economic-Policy-ebook/dp/B0092IUG00/ref=tmm_kin_swatch_0?_encoding=UTF8\u0026qid=\u0026sr=\u0026ascsubtag=[]vx[p]22475387[m]m-placeholder[s]s-placeholder[t]w[c]c-placeholder[r]r-placeholder[d]d-placeholder","subtag_max_length":99,"subtag_delim_length":2,"subtag_key":"ascsubtag","subtag_data":{"_encoding":"UTF8","qid":"","sr":"","ascsubtag":"[]vx[p]22475387[m]m-placeholder[s]s-placeholder[t]w[c]c-placeholder[r]r-placeholder[d]d-placeholder"},"encode_subtag":false}'>one of Warren’s books</a> and who’d later <a href="http://econospeak.blogspot.com/2011/07/is-platinum-coin-seignorage-way-out-of.html">quietly plug</a> the trillion-dollar coin idea to other economists. I suspect Jamie is the proximate cause of <a href="https://krugman.blogs.nytimes.com/2013/01/07/be-ready-to-mint-that-coin/">Paul Krugman endorsing it</a>.</p> <h4>Dylan Matthews</h4> <p>And from there it was a pretty short walk to people like <a href="https://www.businessinsider.com/jerry-nadler-trillion-dollar-coin-end-platinum-mint-obama-white-house-treasury-2013-1">Rep. Jerry Nadler (D-NY)</a> promoting it and the <a href="https://www.washingtonpost.com/news/wonk/wp/2013/01/12/treasury-we-wont-mint-a-platinum-coin-to-sidestep-the-debt-ceiling/">White House having to formally comment</a>. It’s a mainstream idea now. What was it like to watch the idea take off like this? Bewildering? Embarrassing? Entirely positive?</p> <h4>Carlos Mucha</h4> <p>Entirely positive. I have had clients seek me out and hire me because of it, so it’s been nice being able to, well, monetize the idea. The best part was getting an email from Phil Diehl, the former Mint director who actually drafted the platinum coin law that Congress enacted in 1997. When he said, “Yes, this will actually work,” I suddenly felt like Rodney Dangerfield in <a href="https://en.wikipedia.org/wiki/Back_to_School"><em>Back to School</em></a>. He has a Kurt Vonnegut paper due, so naturally he hires Kurt Vonnegut to write it.</p> <p>It’s hilarious, it was basically an intellectual exercise — like a website where people hash out who the greatest third basemen of all time was or whatever — and it just took off.</p> <h4>Dylan Matthews</h4> <p>Have you had any politicians or Treasury/Fed officials reach out to ask you about the coin?</p> <h4>Carlos Mucha</h4> <p>Sure, sometimes someone in the admin, Congress, or the Fed will drop me a line asking for my take on some problem or another. If you had asked me yesterday, I would have said that was because of the trillion-dollar coin story, but after receiving this text yesterday ...</p> <div> <figure class="e-image"><span class="e-image__inner"><span class="e-image__image" data-original="https://cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg"><picture class="c-picture" data-cid="site/picture_element-1633645782_6334_24476" data-cdata='{"asset_id":22905060,"ratio":"*"}'><source srcset="https://cdn.vox-cdn.com/thumbor/lNrgEHGm4-5iWkn_LJDnSmhjg2E=/0x0:1232x1914/320x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 320w, https://cdn.vox-cdn.com/thumbor/BFdmuHKoNKp8FZ5MorluZUgYZXs=/0x0:1232x1914/520x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 520w, https://cdn.vox-cdn.com/thumbor/IExmsn9vuHYh7EBBfNNhRa4fCwk=/0x0:1232x1914/720x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 720w, https://cdn.vox-cdn.com/thumbor/TGFAsukfReHxWjPTnj-S2vesya4=/0x0:1232x1914/920x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 920w, https://cdn.vox-cdn.com/thumbor/oyvVyK2XANWAIfpZ8MjghzlACv0=/0x0:1232x1914/1120x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1120w, https://cdn.vox-cdn.com/thumbor/PEHmRePwRedyIS-CO7ihuTKs8dI=/0x0:1232x1914/1320x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1320w, https://cdn.vox-cdn.com/thumbor/oetF2ooZS5otRn5-FJA5uKIYt-4=/0x0:1232x1914/1520x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1520w, https://cdn.vox-cdn.com/thumbor/DdZOo5C61RzhXrZK3J6SVD17tT4=/0x0:1232x1914/1720x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1720w, https://cdn.vox-cdn.com/thumbor/VzbepaRYuHWcpAxpPPV68AKyfIE=/0x0:1232x1914/1920x0/filters:focal(0x0:1232x1914):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1920w" sizes="(min-width: 1221px) 846px, (min-width: 880px) calc(100vw - 334px), 100vw" type="image/webp" /> <img alt="" data-upload-width="1232" sizes="(min-width: 1221px) 846px, (min-width: 880px) calc(100vw - 334px), 100vw" src="https://cdn.vox-cdn.com/thumbor/M_kMMhjoihI06CnFamY_OLkiqpU=/0x0:1232x1914/1200x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg" srcset="https://cdn.vox-cdn.com/thumbor/c2eZnrC3NmTOasvuuDYI1UcX3_0=/0x0:1232x1914/320x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 320w, https://cdn.vox-cdn.com/thumbor/5Qa0vCCn9a2APpLkqOLBKwAvQSk=/0x0:1232x1914/520x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 520w, https://cdn.vox-cdn.com/thumbor/QldAEw0Roa5eTqr_Gs2bpNuOEMs=/0x0:1232x1914/720x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 720w, https://cdn.vox-cdn.com/thumbor/1S0_E5-0kSJcH45cjR9YuKQcwHA=/0x0:1232x1914/920x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 920w, https://cdn.vox-cdn.com/thumbor/18AZjOBWI5qUp3VxLygFQjOhOKU=/0x0:1232x1914/1120x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1120w, https://cdn.vox-cdn.com/thumbor/aaScbOa_PUxl0fVzs_ejb0r-nU8=/0x0:1232x1914/1320x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1320w, https://cdn.vox-cdn.com/thumbor/lUeQgDx3qIyz3vDjwjOR7pBlnjc=/0x0:1232x1914/1520x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1520w, https://cdn.vox-cdn.com/thumbor/pq020krXHL5mESL6U3z5V_zh4FM=/0x0:1232x1914/1720x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1720w, https://cdn.vox-cdn.com/thumbor/vfboTBqOok3UixMSc3zWdpJwKHg=/0x0:1232x1914/1920x0/filters:focal(0x0:1232x1914):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905060/R9OJV3Z7.jpg 1920w" /></picture></span></span> <figcaption><span class="e-image__meta">Mucha says he has received messages from an official joking about “creative legal solutions.”</span></figcaption> <span class="e-image__meta"><cite>Carlos Mucha</cite></span></figure> </div> <p>... I’m not so sure anymore. Maybe public officials secretly canvass all the Twitter reply guys for policy advice. Who knows.</p> <h4>Dylan Matthews</h4> <p><a href="https://www.reuters.com/world/us/yellen-says-debt-ceiling-hike-utterly-essential-opposes-platinum-coin-gimmick-2021-10-05/">Treasury Secretary Janet Yellen</a> recently seemed to close the door on the coin, telling CNBC, “I’m opposed to it and I don’t think we should consider it seriously. It’s really a gimmick. … It compromises the independence of the Fed, conflating monetary and fiscal policy.” She also argued it would fail to reassure markets, thereby creating some risks akin to those of a debt ceiling breach. What do you make of her comments?</p> <h4>Carlos Mucha</h4> <p>She is, by and large, very good at her job and is by all accounts a nice person, but on this she’s wrong, not just on the law but on policy.</p> <div> <blockquote class="twitter-tweet" data-conversation="none"> <p lang="en" dir="ltr" xml:lang="en">The bond market. Remember, there are two kinds of Tsy Secs, Wall Street douchebags in town for their semester in DC and Texans w/ balls of, well, platinum (Phil Diehl was brought to Tsy by fellow Texan, Lloyd Bentsen). Would Connally or Baker mint the coin? Of course they would! <a href="https://t.co/ctPRU5afFO">pic.twitter.com/ctPRU5afFO</a></p> — Carlos Mucha (@mucha_carlos) <a href="https://twitter.com/mucha_carlos/status/1443582220887678983?ref_src=twsrc%5Etfw">September 30, 2021</a></blockquote> </div> <h4>Dylan Matthews</h4> <p>There are a few other options for the executive to get around the debt ceiling — <a href="https://www.vox.com/policy-and-politics/22684328/us-debt-ceiling-government-shutdown-biden-democrats">I wrote about a couple here</a>, like declaring that continuing to pay the government’s bills is the “least unconstitutional option” compared to failing to spend what Congress authorized.</p> <p>What do you make of these? Is it coin or bust for you, or are there non-coin ways out?</p> <h4>Carlos Mucha</h4> <p>At the same time as I started noodling around on platinum coinage, I found and wrote about two other loopholes too:</p> <ol> <li>Treasury can issue perpetual <a href="https://en.wikipedia.org/wiki/Consol_(bond)">consols</a> [debts that never mature and continue paying interest forever until the government buys them back]. Since there’s no guarantee to repay the principal, it doesn’t add to public debt (which measures amount of guaranteed principal).</li> <li>The Fed can just donate the Treasury securities it holds back to Treasury.</li> </ol> <p>Of the three [the above two and the coin], issuing consols is probably the least disruptive. Treasury can announce it is issuing T-bonds “payable at the pleasure of the United States” instead of a fixed term and can hold an auction later the same day. So that’s what I’d expect to see if Treasury runs out of money.</p> <br /> <br /> source <a href="https://www.vox.com/22711346/trillion-dollar-coin-mintthecoin-debt-ceiling-beowulf">https://www.vox.com/22711346/trillion-dollar-coin-mintthecoin-debt-ceiling-beowulf</a>

vox The trillion-dollar coin scheme, explained by the guy who invented it

On Tuesday, the Treasury secretary of the United States, Janet Yellen, finally said it: She does not intend to mint a platinum coin worth $1...

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Banks don’t want your money right now

<div><img class="ff-og-image-inserted" src="https://cdn.vox-cdn.com/thumbor/hcGDw5_32XDlutB1k-dqk3tKYMo=/0x86:9000x4798/fit-in/1200x630/cdn.vox-cdn.com/uploads/chorus_asset/file/22903654/GettyImages_1297987795.jpg" /></div> <p>US interest rates and inflation are on the rise again, which means Americans can expect to pay higher rates for mortgages, auto loans, and credit cards. But don’t expect it to lead to higher interest on your savings account anytime soon.</p> <p>Banks don’t want your money. That’s why they’re offering such low rates.</p> <p>Today, the <a href="https://www.bankrate.com/banking/savings/average-savings-interest-rates/">average US savings account pays 0.06 percent</a> interest annually. Put another way, in one year a saver will earn just $6 in interest on $10,000 in deposits. Even many of the top online “high-yield savings accounts” in the US pay a negligible 0.5 percent interest annually. And the average one-year certificate of deposit (CD), typically one of the highest-yielding savings vehicles, <a href="https://www.bankrate.com/banking/cds/current-cd-interest-rates/">pays 0.15 percent</a>.</p> <p>While savings accounts and CD yields are at historic lows, inflation this year is expected to increase at the fastest pace since 1991, eroding consumers’ purchasing power and reducing the value of their dollars. Normally, high inflation leads to higher interest rates that translate to higher rates on savings accounts as banks seek out deposits. But that’s not the case in 2021.</p> <p>In July, Americans who put their money in savings accounts were hit with the most negative real average savings rate in US history: -5.34 percent.</p> <div class="c-float-right"> <aside><q>At that rate, $10,000 deposited in a savings account would be worth only $9,460 in equivalent dollars at the end of a one-year period</q></aside> </div> <p>At that rate, $10,000 deposited in a savings account would be worth only $9,460 in equivalent dollars at the end of a one-year period. In essence, the saver loses $540 in buying power to earn $6 in interest.</p> <p>Yet, Americans are pouring money into savings accounts at a historic rate. The <a href="https://fred.stlouisfed.org/series/PSAVERT"><strong>US personal savings rate</strong></a> in 2020 rose to 13.7 percent, the highest in the 62-year history of the measure; in 2021, it has so far averaged near that rate.</p> <p>The buildup in savings is the byproduct of a confluence of events related to the Covid-19 pandemic: a reduced ability to spend on service-related purchases such as dining out and travel, government support like stimulus checks and enhanced unemployment benefits, and fear that the February 2020 to April 2020 recession would cause financial instability and wide-ranging job losses. It was also a call to action for many, as more than half (51 percent) of Americans have less than three months’ worth of <a href="https://www.cnbc.com/2021/07/28/51percent-of-americans-have-less-than-3-months-worth-of-emergency-savings.html">emergency savings</a>.</p> <p>However, financial professionals say the call has now gone too far, especially given the paltry payoff for those who save.</p> <p>“We are seeing clients with too much cash in their portfolios, and that could impact their purchasing power,” says Michael Briese, a senior vice president and private client adviser at J.P. Morgan Wealth Management. “Think about it this way: If the economy grows and prices rise but your savings stay the same, what you can buy with that money shrinks in the long term.”</p> <p>Banks have been inundated with deposits from consumers since the start of the pandemic. Cash assets at commercial banks <a href="https://fred.stlouisfed.org/series/CASACBW027SBOG"><strong>totaled</strong></a> $4.7 trillion as of September 15. That’s more than double the $1.8 trillion of cash held at such banks in February 2020.</p> <div class="c-float-left"> <aside><q>“If the economy grows and prices rise but your savings stay the same, what you can buy with that money shrinks in the long term”</q></aside> </div> <p>The trend is a reversal of the one that had been in place from 2014 to 2019 when Americans — seemingly fed up with near-zero returns on their savings accounts — started pulling money out of commercial banks. Between October 2014 and October 2019, commercial banks’ cash assets <a href="https://www.federalreserve.gov/releases/h8/h8notes.htm"><strong>declined</strong></a> from just under $3 trillion to around $1.7 trillion.</p> <p>“All this money has been deposited but banks can’t find good loans to make,” Gary Zimmerman, founder and CEO of fintech savings vehicle MaxMyInterest, says. “There’s been a big slowdown in lending, and because banks have more deposits than they can find a home for, their only option is to try to lower their interest rates to get you to go away. Large lending institutions are actively hoping you’ll withdraw your money.”</p> <p>Data from the Federal Reserve show that as deposits have grown, loans have fallen, in large part because banks are also socking away money in the form of securities guaranteed by the federal government. And while mortgage lending has largely held up, thanks to the booming US real estate market, commercial and industrial loans have been in <a href="https://fred.stlouisfed.org/series/BUSLOANS">freefall</a> since May 2020, declining by nearly 20 percent.</p> <p>The share of total assets devoted to loans at the 25 biggest US banks fell to the <a href="https://www.federalreserve.gov/releases/h8/current/">lowest level</a> in the nearly 36-year history of the Fed’s weekly data this year. The ratio of loans to deposits at US banks also fell to its <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/loan-to-deposit-ratios-at-us-banks-drop-further-reaching-lowest-level-on-record-66365472">lowest level on record</a> in the second quarter, according to S&P Global Market Intelligence’s database, which dates back to 2003.</p> <div class="c-float-right"> <div> <div class="c-entry-sidebar"> <p>Each week we’ll send you the very best from The Goods, plus a special internet culture edition by Rebecca Jennings on Tuesdays. <a href="http://www.vox.com/the-goods-newsletter" data-analytics-viewport="related-story" data-analytics-link="related-story">Sign up here</a>.</p> </div> </div> </div> <p>In theory, banks need deposits to be able to make loans, which are their primary revenue driver. But in reality, the Federal Reserve — the all-powerful central bank of the United States — <a href="https://www.federalreserve.gov/newsevents/pressreleases/bcreg20201207a.htm">pushed the reserve requirement ratio</a> (RRR) to zero percent in March 2020.</p> <p>The RRR is the ratio of actual cash banks must hold in relation to how much money they lend. If the reserve requirement ratio is 10 percent, banks that want to lend $100,000 must hold $10,000 in cash. With the ratio at zero, commercial banks have the ability to lend much more money without needing a corresponding increase in deposits.</p> <p>In addition to taking RRR to zero percent, the Fed also has been flooding markets with cash through its quantitative easing (QE) program since March 2020, pushing $120 billion into the economy every single month. That gives banks further access to capital and even less reason to incentivize consumers to save or make deposits.</p> <p>Making it unattractive to save is a feature, not a bug, of the Fed’s policy. Low interest rates and abundant capital are intended to push consumers to buy instead of save or to take additional risk and do things like start a business or take out a second mortgage on a home in order to spend more money.</p> <div class="c-float-left"> <aside><q>Making it unattractive to save is a feature, not a bug, of the Fed’s policy</q></aside> </div> <p>The goal is that this money gets out into the economy and encourages businesses to hire more workers and pay them more money, furthering a virtuous circle of spending that benefits everyone.</p> <p>But some argue that the Fed’s extraordinary support since the start of the pandemic has not helped the economy as much as it has fueled asset bubbles in stocks, real estate and even commodities as more investors borrow money that they use to speculate in these markets.</p> <p>The effects can be seen in the rise of not just the overall stock market and housing prices, but in cryptocurrencies (hailed as a savings asset that the <a href="https://www.axios.com/miami-suarez-bitcoin-axios-hbo-05cd1d8f-b316-4c3c-a057-c05c2c8ac233.html">Fed can’t manipulate</a>), the <a href="https://www.axios.com/stock-market-gamestop-reddit-exposed-d7eb06e2-f6c7-4aa8-99d7-24a51df27fa9.html">frenzy in “meme stocks”</a> like <a href="https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron">GameStop and AMC</a>, and in the skyrocketing price of <a href="https://www.vox.com/the-goods/22607818/trading-cards-pokemon-magic-baseball">trading cards</a>, <a href="https://www.vox.com/the-goods/22700655/cryptocurrency-invest-nft-whiskey-playboy">art and things like non-fungible tokens</a>, or NFTs.</p> <p>Investors are largely just following the lead of US companies, which borrowed a record $1.3 trillion <a href="https://www.reuters.com/business/finance/corporate-net-debt-seen-rising-companies-spend-pandemic-cash-piles-2021-07-06/">last year</a> and held a total of $13.5 trillion in debt for the 2020 financial year.</p> <p>Large companies are able to eschew banks and traditional lending by borrowing money in public debt markets through bond issues, meaning they draw money from investors as loans that are paid back with interest over time.</p> <p>The Fed helps here as well. By lowering US interest rates and buying U.S. government bonds through QE, the average amount companies have to pay in interest is near the <a href="https://www.cnbc.com/2021/07/14/the-junk-bond-market-is-on-fire-this-year-as-yields-hit-a-record-low.html">lowest it has ever been</a>. That’s especially important for risky companies with <a href="https://www.investopedia.com/articles/02/052202.asp">“junk” credit ratings</a> that would otherwise find it very expensive to borrow.</p> <p>In light of this new environment, some wealth managers like Douglas Boneparth, president of Bone Fide Wealth, are encouraging their clients to adopt a similar strategy to corporations.</p> <p>Boneparth, who works primarily with older millennials, typically advises his clients to hold nine to 12 months of living expenses in cash. But he is now suggesting that some clients who have stock portfolios or own their home open up lines of credit backed by those assets instead of holding all that cash.</p> <div class="c-float-right"> <aside><q>“Having too much money out of the market is a missed opportunity to compound your wealth”</q></aside> </div> <p>“What it really boils down to is [that] having too much money out of the market is a missed opportunity to compound your wealth,” Boneparth says.</p> <p>Because it pays so little to save and costs so little to borrow, Boneparth advises some clients to have six months of living expenses in cash and the equivalent amount available through either a home equity line of credit or a margin loan from a brokerage firm.</p> <p>“You’re playing rates to your advantage. Rates are low, money is super cheap right now,” he says. “[However], the advice isn’t to go leverage yourself or take on a bunch of debt. If you’re disciplined enough to utilize credit responsibly, here is a way it can prove to be very powerful.”</p> <p>More clients are looking to take advantage of such opportunities, Boneparth says.</p> <p>That’s not surprising to Zimmerman, who created MaxMyInterest in response to the anemic yields offered on savings accounts at big banks. The company aims to help consumers holding high amounts of cash automatically find the best available interest rate.</p> <p>The combination of the Fed’s massive intervention into markets and the government’s big spending on stimulus and recovery bills “has put so much artificial money into banks,” Zimmerman says.</p> <p>“People are taking on more risks because they’re saying, ‘If the bank doesn’t want my money, I’ve got to find somewhere else to put it.’”</p> <br /> <br /> source <a href="https://www.vox.com/the-goods/22711598/savings-interest-rates-low-banks">https://www.vox.com/the-goods/22711598/savings-interest-rates-low-banks</a>

vox Banks don’t want your money right now

US interest rates and inflation are on the rise again, which means Americans can expect to pay higher rates for mortgages, auto loans, and ...

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The US is closer than ever before to making major progress on the climate crisis

<p>The United States — the largest carbon polluter in history — is closer than it’s ever been to taking sweeping and lasting action on the climate crisis.</p> <p>The bad news is that if Democrats can’t pull it off, they may never get another opportunity like this — and the planet certainly won’t.</p> <p>Democratic leaders are trying to pass two major pieces of legislation — the $1 trillion bipartisan infrastructure bill and the up to $3.5 trillion Build Back Better Act — that they say can slash US pollution by up to <a href="https://www.eenews.net/articles/schumer-outlines-reconciliation-emissions-targets/">45 percent</a> in the coming decade. In the outlined Build Back Better Act, Congress would flex its power to transform the electricity sector so that it runs on mostly clean energy, steer the transportation sector toward electric vehicles, and finally take action on methane pollution, one of the most harmful greenhouse gases.</p> <p>But there have been many recent moments when the precarious dealmaking in Congress <a href="https://www.vox.com/22704198/congress-infrastructure-budget-reconciliation">seemed close to falling apart</a>. One of the biggest sticking points has been with West Virginia Sen. Joe Manchin, who has questioned the party’s approach to passing both bills simultaneously. “What’s the urgency that we have?” Manchin asked on <a href="https://www.cnbc.com/2021/09/12/sen-joe-manchin-says-theres-no-way-to-pass-budget-bill-by-september-27.html">CNN’s <em>State of the Union</em></a> in late September.</p> <p>In part because of Manchin’s opposition, even progressive leaders have begun to manage expectations, signaling the ultimate bill will be less ambitious. Sen. Bernie Sanders of Vermont <a href="https://news.yahoo.com/sanders-3-5-trillion-reconciliation-153700106.html">suggested</a> that the $3.5 trillion figure would see some “give and take.” The package is likely to <a href="https://www.nytimes.com/2021/10/05/business/biden-agenda-congress-democrats.html">shrink to $2.3 trillion or less</a>, the New York Times reported on Wednesday.</p> <p>So what is the urgency?</p> <p>Democrats only have one year before midterm elections could take away their narrow majorities in the House and Senate. That would leave them powerless to pass any legislation without help from Republicans.</p> <p>At the same time, the planet faces a rapidly closing window to avert the worst catastrophes of global warming. Every fraction of a degree will translate into lives and livelihoods lost. The world can’t afford another decade of American inaction, and what Congress does next will help determine the future of the climate.</p> <p>Historically, the president’s party loses seats in Congress in <a href="https://newrepublic.com/article/163086/can-biden-defy-history-2022-midterms">midterm elections</a>. Next November, Democrats could lose their narrow control of Congress if they lose even one Senate seat or more than a few House seats.</p> <p>“The middle of that Venn diagram — when we have leaders who care about science and we still have that window of opportunity — is now,” said Lena Moffitt, campaign director at the climate advocacy group Evergreen Action.</p> <p>Democrats in Congress are also relying on a roughly once-a-year process, known as budget reconciliation, to try and push the Build Back Better Act through the Senate. Reconciliation allows them to pass a budget with a simple majority, instead of the 60 votes that are usually required in the Senate. There might not be time or political will to make a similar move in 2022. And some Democrats remain unwilling to eliminate the Senate filibuster, which is the other way they could pass progressive policies.</p> <p>In short, if the historical pattern holds, Democrats may not get another chance under President Biden — or even this decade — to take serious action on climate. Some Republicans <a href="https://www.nytimes.com/2021/08/13/climate/republicans-climate-change.html">have been hinting</a> at taking climate change more seriously, but much of the party’s leadership continues to downplay and deny climate science.</p> <p>The next time the US has an opening like this, climate change will likely be dramatically worse — and that much harder to stop.</p> <figure class="e-image"><span class="e-image__inner"><span class="e-image__image" data-original="https://cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg"><picture class="c-picture" data-cid="site/picture_element-1633645897_7669_25213" data-cdata='{"asset_id":22905642,"ratio":"*"}'><source srcset="https://cdn.vox-cdn.com/thumbor/CspcafIRmkDBqBcvYn78mZI6xRc=/0x0:5370x3580/320x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 320w, https://cdn.vox-cdn.com/thumbor/QHj9K6iCAiZZrh9cV-r6EYkSPqI=/0x0:5370x3580/520x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 520w, https://cdn.vox-cdn.com/thumbor/EevO9RRJc5xCGCO56Y81LYhHdHg=/0x0:5370x3580/720x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 720w, https://cdn.vox-cdn.com/thumbor/P9iJq0THAuhYZ_y6d8p56uh8bjY=/0x0:5370x3580/920x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 920w, https://cdn.vox-cdn.com/thumbor/zpTKmNZZIy1X_duMG5NJzuXnNPs=/0x0:5370x3580/1120x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1120w, https://cdn.vox-cdn.com/thumbor/8oD1YGtlbSkBbMpWpWJ4ZftIgc4=/0x0:5370x3580/1320x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1320w, https://cdn.vox-cdn.com/thumbor/frXiGZJSmQIKQKOu-uqtFNhqle0=/0x0:5370x3580/1520x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1520w, https://cdn.vox-cdn.com/thumbor/Vlqar6LJTgjLn4to0U2XOI6ELrg=/0x0:5370x3580/1720x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1720w, https://cdn.vox-cdn.com/thumbor/j0CLRvV5V1rEjJjcV92Rwh8WDjM=/0x0:5370x3580/1920x0/filters:focal(0x0:5370x3580):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1920w" sizes="(min-width: 1221px) 846px, (min-width: 880px) calc(100vw - 334px), 100vw" type="image/webp" /> <img alt="A flooded street of shops at night reflecting the lights in the water." data-upload-width="5370" sizes="(min-width: 1221px) 846px, (min-width: 880px) calc(100vw - 334px), 100vw" src="https://cdn.vox-cdn.com/thumbor/um1tdVYhbiCe2QQb93e17QhB-2c=/0x0:5370x3580/1200x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg" srcset="https://cdn.vox-cdn.com/thumbor/_AlxTXx-hi5b5PLT3R9HrIUkkDc=/0x0:5370x3580/320x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 320w, https://cdn.vox-cdn.com/thumbor/3u8Q3bYilngloX_piCHSCw-lF1c=/0x0:5370x3580/520x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 520w, https://cdn.vox-cdn.com/thumbor/htglAERZNMmvjGEe3n4svhL37vE=/0x0:5370x3580/720x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 720w, https://cdn.vox-cdn.com/thumbor/0w8Q0zTbXqvDuVNdn4Ig7Kdl6q8=/0x0:5370x3580/920x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 920w, https://cdn.vox-cdn.com/thumbor/6Nos7H3OMFVT6u6kQOqX74abML0=/0x0:5370x3580/1120x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1120w, https://cdn.vox-cdn.com/thumbor/tp_IONtLGrHo3uuD56EghEpAQ0U=/0x0:5370x3580/1320x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1320w, https://cdn.vox-cdn.com/thumbor/qj9Cklj_nwn3P9dHvmHL9fJtsvs=/0x0:5370x3580/1520x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1520w, https://cdn.vox-cdn.com/thumbor/EoV-kqUwAscDfmpGKe0YhXpj3ik=/0x0:5370x3580/1720x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1720w, https://cdn.vox-cdn.com/thumbor/RrRgx3p__Lx4G39IFixaFvSbSlg=/0x0:5370x3580/1920x0/filters:focal(0x0:5370x3580):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22905642/GettyImages_1235023100.jpg 1920w" /></picture></span></span> <figcaption><span class="e-image__meta">Hurricane Ida caused record flooding in New Jersey in September. Climate change is already intensifying extreme weather such as tropical storms and heat waves.</span></figcaption> <span class="e-image__meta"><cite>Anadolu Agency via Getty Images</cite></span></figure> <p>Climate scientists have <a href="https://www.ipcc.ch/sr15/">warned</a> that once the atmosphere warms more than 1.5 degrees Celsius, we will live in a <a href="https://www.vox.com/22613027/un-ipcc-climate-change-report-ar6-disaster">drastically changed world</a>. If countries, corporations, and individuals don’t take immediate action to reduce pollution, the world may hit that grim milestone in <a href="https://www.nytimes.com/2018/10/07/climate/ipcc-climate-report-2040.html">just 10 years</a>.</p> <p>Over the long term, if the world continues on its current polluting path, the world will warm <a href="https://insideclimatenews.org/news/03082020/climate-change-scenarios-emissions/">more than double</a> that amount, risking catastrophes humanity has never had to confront. The window to chart a new course is rapidly closing.</p> <p>And the world’s “last, best chance” to take decisive collective action is less than a month away, as <a href="https://www.bbc.com/news/av/world-us-canada-55835266">John Kerry, who serves as President Biden’s climate envoy</a>, has said. In early November, world governments will gather in Glasgow for the United Nations climate conference, COP26. Following up on the Paris climate accord, countries will pledge more ambitious pollution targets and tackle the challenge of financing a worldwide transition to clean energy.</p> <p>The US bears the most responsibility of any country for global warming, having released 20 percent of the world’s greenhouse pollution since 1850. Today, the country ranks <a href="https://rhg.com/research/chinas-emissions-surpass-developed-countries/">second in emissions behind</a> China. But the US also has the power to magnify its impact if it leads by example, or if it flexes its influence on the global economic system, for example by affecting <a href="https://www.scientificamerican.com/article/china-says-it-will-stop-financing-coal-power-abroad/">global prices of fossil fuels</a> by ending government subsidies.</p> <p>Climate experts say progress at the COP26 conference depends on the United States proving it can do its part, for symbolic as well as practical reasons. This is the first year the US officially returns to global negotiations after former President Donald Trump withdrew the country from the Paris climate accord. Now, Biden has to lead by example by showing that the country can swiftly change direction for good, demonstrating progress on its national pledge of cutting emissions <a href="https://www.vox.com/22397364/earth-day-us-climate-change-summit-biden-john-kerry-commitment-2030-zero-emissions">50 to 52 percent</a> by 2030.</p> <p>“There is this sense of exhaustion about how long is it going to take for one of the biggest emitters in the world to do its fair share,” said Rachel Cleetus, the clean energy policy director at the Union of Concerned Scientists.</p> <p>It’s unclear whether Congress will deliver on climate-change legislation by the time the international community meets in Glasgow. But any steps forward would send “a very important signal that can really help catalyze more ambition from other countries,” Cleetus said.</p> <p>As Democrats fight over the details of the infrastructure bill and pare back the Build Back Better agenda, the proposals that would tackle climate change are changing.</p> <p>Pressure to shrink the size and scope of the Build Back Better agenda could wind up pitting environmental priorities against one another, Dana Johnson, federal policy director at WE ACT for Environmental Justice, told Vox. This could reduce protections for communities that are most vulnerable to climate change.</p> <p>“Are we going to prioritize clean air over people having clean water? Are we going to prioritize water over reducing the energy burden in homes?” Johnson asked. “People of low wealth and people of color will still get the short end of the stick.”</p> <p>The impact of both pieces of legislation depends heavily on which proposals members of Congress can agree on and which they cut.</p> <p>Cleaning up the power sector is the easiest and fastest way to address US emissions, <a href="https://www.vox.com/22579218/clean-energy-standard-electricity-infrastructure-democrats">climate experts told Vox</a>, because clean electricity can fuel everything from cars and trucks to homes and offices. The 183 active coal-fired power plants left in the nation are heavy polluters that can be replaced with “off-the-shelf, ready-to-go technologies that are commercially available and easy to build up in America today,” said Jesse Jenkins, an environmental engineering professor at Princeton University who is advising lawmakers on the bill.</p> <p>The Build Back Better Act could accelerate this transition with a Clean Electricity Payment Program (CEPP), which would reward utilities for increasing clean energy by 4 percent year over year and ding them if they don’t. In an interview with Vox this summer, Sen. Tina Smith (D-MN) called this part of the package “the biggest change in our energy policy since the lights went on.” But as the chair of the Senate Energy and Natural Resources Committee, Manchin will ultimately set the terms of the CEPP.</p> <p>The program tops <a href="https://rhg.com/research/build-back-better-congress-budget/">a list</a> of six leading climate policies that Congress is currently considering, according to the consulting firm Rhodium Group. Next on the list are:</p> <ul> <li>Between CEPP and clean energy tax credits, the bill allots $235 billion for utilities, producers, and consumers in subsidies extended for the next decade</li> <li>$80 billion in rebates and investments in electric vehicles and public transit before 2030, which would mean fewer gas-guzzling cars added to US roads</li> <li>Fines for oil and gas producers that <a href="https://www.vox.com/22407581/gas-texas-biden-climate-change-methane-permian-basin">leak an excessive amount of methane</a>. This is the most direct way lawmakers want to target emissions from fossil-fuel production.</li> <li>Funding for “natural carbon removal,” which takes the form of agricultural and forestry programs that would focus on soil conservation and reforestation.</li> </ul> <p>Any of these could wind up dropping out of the final legislation under pressure from holdouts like Sen. Kyrsten Sinema and Sen. Manchin.</p> <p>Manchin, who <a href="https://www.nytimes.com/2021/09/19/climate/manchin-climate-biden.html">profits personally</a> from family investments in coal and has relied on campaign donations from the oil and gas industry, has said he wants more coal and natural gas to be part of the Build Back Better Act. He has also suggested increasing funding for carbon capture and storage, which have divided environmentalists but are supported by many fossil-fuel companies. (One ExxonMobil lobbyist bragged in an <a href="https://www.huffpost.com/entry/joe-manchin-exxonmobil-lobbying-environmental-groups_n_60dcc8e3e4b001b8d59bbbd8">undercover video</a>, taped by the climate activist group Greenpeace UK, that he meets with Manchin’s office every week, the HuffPost reported.)</p> <p>If the proposed investments are left alone, however, Rhodium Group found that the <a href="https://rhg.com/research/build-back-better-congress-budget/">six top climate proposals</a> in the two-pronged Democratic approach would eliminate up to a billion tons of carbon pollution. A billion tons is equivalent to taking “250 million cars off the road forever,” John Larsen, the consulting group’s energy research director, told Vox — roughly the impact of disappearing every vehicle that has driven on US roads in 2021. Most of these gains would come from the reconciliation package, Larsen added.</p> <p>Another way to measure the importance of these climate policies is to consider what happens without them. Domestic emissions could flatline and possibly even increase in the next decade if existing US policies continue, according to Rhodium’s <a href="https://rhg.com/research/build-back-better-congress-budget/">modeling</a>. (That’s based on the pessimistic assumption that there will be no federal legislation, no new EPA regulation, and no further state action.) Pollution levels in 2030 would remain just 15 to 25 percent below the US peak in 2005.</p> <p>Basically, a business-as-usual approach to climate change would not get the US anywhere near Biden’s target of 50 percent reductions by the end of the decade.</p> <p>You can see the huge gap between Biden’s promises for 2030 and the current course of the US in the chart below. Biden’s target for this decade appears as a vertical line in the bottom right corner, just above the year 2030. The green and blue area is where the country is headed if nothing changes. (Since there’s a fair bit of uncertainty baked into these predictions, the colors reflect the possible range of scenarios.)</p> <figure class="e-image"><span class="e-image__inner"><span class="e-image__image" data-original="https://cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png"><picture class="c-picture" data-cid="site/picture_element-1633645897_7590_25214" data-cdata='{"asset_id":22894550,"ratio":"*"}'><source srcset="https://cdn.vox-cdn.com/thumbor/ULjEBTXTkU4WohUCcxiLagYTGiA=/0x0:1430x974/320x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 320w, https://cdn.vox-cdn.com/thumbor/CIVmeVixBM6RytUaMHceVB-sQtQ=/0x0:1430x974/520x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 520w, https://cdn.vox-cdn.com/thumbor/StoLO5jEuVVgnlau5MXz-0vWLiQ=/0x0:1430x974/720x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 720w, https://cdn.vox-cdn.com/thumbor/8-RWu-M2cHm9V4iOuK3jqHMQ5RQ=/0x0:1430x974/920x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 920w, https://cdn.vox-cdn.com/thumbor/yHrNnwU8YdNUOoJ0UrfUbtiBtvM=/0x0:1430x974/1120x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1120w, https://cdn.vox-cdn.com/thumbor/D_loQHgGaCQnoYuACdPKPsK9eec=/0x0:1430x974/1320x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1320w, https://cdn.vox-cdn.com/thumbor/loUHbyXktk9HJeD5Houvh0s1Bkw=/0x0:1430x974/1520x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1520w, https://cdn.vox-cdn.com/thumbor/fmyYsVcOkLzoB7F1IIikmyZTKhg=/0x0:1430x974/1720x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1720w, https://cdn.vox-cdn.com/thumbor/Zfxwn4GlJOG7kxiMnszYzluWGCE=/0x0:1430x974/1920x0/filters:focal(0x0:1430x974):format(webp):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1920w" sizes="(min-width: 1221px) 846px, (min-width: 880px) calc(100vw - 334px), 100vw" type="image/webp" /> <img alt="A chart showing projected United States greenhouse gas emissions." data-upload-width="1430" sizes="(min-width: 1221px) 846px, (min-width: 880px) calc(100vw - 334px), 100vw" src="https://cdn.vox-cdn.com/thumbor/7Qtc6sNHRrTdRQjPFGw63clBP9A=/0x0:1430x974/1200x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png" srcset="https://cdn.vox-cdn.com/thumbor/rbnFODgUlyXPC9KQdLwFwMbGCEE=/0x0:1430x974/320x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 320w, https://cdn.vox-cdn.com/thumbor/-tAxEQOEPQPVWSx4rFSmjknGtLI=/0x0:1430x974/520x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 520w, https://cdn.vox-cdn.com/thumbor/Tg9Y64J6HVl9Q_Bs6hxoA8H-Hgk=/0x0:1430x974/720x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 720w, https://cdn.vox-cdn.com/thumbor/EBCnojXUO2f-gNsKw6pId5cp8fY=/0x0:1430x974/920x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 920w, https://cdn.vox-cdn.com/thumbor/9cUIwbtlEmyYNtrFOPJNON6MkVQ=/0x0:1430x974/1120x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1120w, https://cdn.vox-cdn.com/thumbor/t5DuA5NNvAsIwq99HKLa52Ph4eY=/0x0:1430x974/1320x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1320w, https://cdn.vox-cdn.com/thumbor/RfH-_bue5l-V0qrRPp2aWRUyszQ=/0x0:1430x974/1520x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1520w, https://cdn.vox-cdn.com/thumbor/qj1Fsgm9_JsjnHOES-LcekUpp10=/0x0:1430x974/1720x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1720w, https://cdn.vox-cdn.com/thumbor/eNB9esNExasDxfoLsfZ-DBqKDRc=/0x0:1430x974/1920x0/filters:focal(0x0:1430x974):no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/22894550/Screen_Shot_2021_10_01_at_4.12.51_PM.png 1920w" /></picture></span></span> <span class="e-image__meta"><cite>Rhodium Group’s Taking Stock report, July 2021</cite></span></figure> <p>The gulf between current practices and Biden’s pledges represents 2.3 billion tons of pollution that the country somehow needs to prevent.</p> <p>Infrastructure is not easy to change once it’s in the ground — just think of all the old buildings, bridges, highways, and pipelines that are still in use after decades or even centuries. If the government doesn’t slow the construction of new fossil-fuel infrastructure, and gas continues to power many buildings, America’s dependence on dirty energy will be baked in for years to come. Congress has the power to shape how quickly the country manages to bend its current path — a path that leads to disastrous warming.</p> <p>Jenkins, the Princeton professor, called on the House and Senate to play a leading role in the US solution to climate change. “It will be impossible for the Biden administration to make up for congressional inaction,” he said. If Congress is not “putting its shoulder into accelerating the transition, then it’s going to be really hard to keep up the pace.”</p> <br /> <br /> source <a href="https://www.vox.com/22685920/democrats-infrastructure-build-back-better-climate-change">https://www.vox.com/22685920/democrats-infrastructure-build-back-better-climate-change</a>

vox The US is closer than ever before to making major progress on the climate crisis

The United States — the largest carbon polluter in history — is closer than it’s ever been to taking sweeping and lasting action on the clim...

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The Supreme Court takes a lie detector test

<div><img class="ff-og-image-inserted" src="https://cdn.vox-cdn.com/thumbor/K49jJE-YwQT63e6dZHZb-bjXLfw=/0x81:6000x3222/fit-in/1200x630/cdn.vox-cdn.com/uploads/chorus_asset/file/22902264/1229300166.jpg" /></div> <p>The justices are feeling insecure.</p> <p>Four members of the Supreme Court — Justices <a href="https://constudies.nd.edu/events-news/events/2021/09/16/2021-tocqueville-lecture-justice-clarence-thomas/">Clarence Thomas</a>, <a href="https://today.law.harvard.edu/supreme-court-justice-stephen-g-breyer-cautions-against-the-peril-of-politics/">Stephen Breyer</a>, <a href="https://twitter.com/mjs_DC/status/1443655119086755852">Samuel Alito</a>, and <a href="https://www.courier-journal.com/story/news/politics/mitch-mcconnell/2021/09/12/justice-amy-coney-barrett-supreme-court-decisions-arent-political/8310849002/">Amy Coney Barrett</a> — all gave speeches in the last several months complaining that they are often perceived, as Barrett put it, as “a bunch of partisan hacks.”</p> <p>Justice Thomas summarized these justices’ complaints at a mid-September speech at the University of Notre Dame: “The media makes it sound as though you are just <a href="https://www.vanityfair.com/news/2021/09/clarence-thomas-media-politicizes-supreme-court">always going right to your personal preference</a>. So if they think you are anti-abortion or something personally, they think that’s the way you always will come out.”</p> <p>As it turns out, the Court will hear a case on Tuesday, <a href="https://www.scotusblog.com/case-files/cases/cameron-v-emw-womens-surgical-center-p-s-c/"><em>Cameron v. EMW Women’s Surgical Center</em></a>, which tests the hypothesis that the justices are “always going right to [their] personal preference” in abortion cases.</p> <p>On the one hand, <em>Cameron</em> involves a Kentucky state law that restricts certain kinds of abortions — and it also involves an effort by Kentucky’s Republican attorney general, Daniel Cameron, to undo the pro-abortion work of his Democratic predecessor-turned-current-governor Andy Beshear. It is a classic partisan dispute over reproductive rights, with high officials from both parties maneuvering to get the policy outcome they prefer.</p> <p>On the other hand, the specific legal issue before the justices has little to do with abortion. It’s a hyper-technical procedural case asking whether Cameron may appeal a particular court order directly, or whether he must instead file a motion seeking “<a href="https://www.law.cornell.edu/rules/frcp/rule_60">relief from a judgment or order</a>” in a federal trial court. (The <em>Cameron</em> case should not be confused with another case being heard in December, <a href="https://www.scotusblog.com/case-files/cases/dobbs-v-jackson-womens-health-organization/"><em>Dobbs v. Jackson Women’s Health Organization</em></a>, which is an existential threat to <em>Roe v. Wade</em>.)</p> <p>Viewed through a partisan lens, in other words, one would expect <em>Cameron</em> to end in a 6-3 decision with all six Republican appointees siding with Cameron and all three Democratic appointees voting against him. This is, after all, an abortion case. We know where each party stands on abortion.</p> <p>But seen through the eyes of a nonpartisan judge, <em>Cameron</em> is exactly the sort of case where the justices’ votes are difficult to predict and where the final vote could break down on unconventional lines. Even in an era of extreme polarization, it’s not like the national leadership of either party has strong feelings about whether the proper vehicle for Cameron to seek relief is a <a href="https://www.law.cornell.edu/rules/frap/rule_35">petition for rehearing en banc</a>, or a motion filed under <a href="https://www.law.cornell.edu/rules/frcp/rule_60">Federal Rule of Civil Procedure 60(b)(5)</a>.</p> <p>Each justice will need to make a decision about how they approach this case. Will they analyze the procedural question presented by <em>Cameron</em> with the same objective neutrality that most justices would apply to a <a href="https://www.supremecourt.gov/opinions/16pdf/16-399_5436.pdf">similar case</a> that did not involve a politically charged issue like abortion? Or will their personal preferences overcome their legal analysis?</p> <p>There’s good reason to fear that at least five of the justices will fail this test. Just last month, in <em>Whole Woman’s Health v. Jackson</em>, the Supreme Court considered a Texas ban on abortions after six weeks of pregnancy, which was <a href="https://www.vox.com/22653779/supreme-court-abortion-texas-sb8-whole-womans-health-jackson-roe-wade">drafted specifically to evade judicial review</a>.</p> <p>It’s hard to imagine that the Court would have tolerated a similar effort to undermine the judiciary’s own authority if a different right were at stake, such as the right to own a gun or the right to criticize President Joe Biden. And yet, five members of the Court allowed this Texas law to take effect. Now, a Texas statute that <a href="https://www.vox.com/2021/8/31/22650303/supreme-court-abortion-texas-sb8-jackson-roe-wade-greg-abbott">unquestionably violates decisions such as <em>Roe v. Wade</em></a> prohibits the overwhelming majority of abortions in that state.</p> <p>In <em>Cameron</em>, the stakes are much lower. No one questions that Attorney General Cameron is allowed to press his anti-abortion arguments in court, even though the parties in <em>Cameron</em> disagree about which court should hear those arguments.</p> <p>But the case is worth watching nonetheless, not because it is likely to end in a landmark decision fundamentally reshaping abortion rights, but because it could tell us a great deal about whether the justices are capable of thinking in a nonpartisan way whenever they are confronted with an abortion case.</p> <p>The plaintiffs in <em>Cameron</em> challenge a Kentucky law that prohibits doctors from using the standard method to perform “dilation and evacuation” abortions. A left-leaning panel of the United States Court of Appeals for the Sixth Circuit <a href="https://casetext.com/case/emw-womens-surgical-ctr-v-friedlander">struck this law down</a>. They held that it violates the Supreme Court’s decision in <a href="https://scholar.google.com/scholar_case?case=12719084930434459940&hl=en&as_sdt=6&as_vis=1&oi=scholarr"><em>Whole Woman’s Health v. Hellerstedt</em></a> (2016), which required courts to balance “the burdens a law imposes on abortion access together with the benefits those laws confer” in determining whether a restriction on abortion is unconstitutional.</p> <p>According to the Sixth Circuit, the Kentucky law effectively required many abortion patients to undergo a medical procedure that exposes them to “additional risks and burdens” without there being any evidence that the procedure is “necessary or provide any medical benefit to the patient.” (Disclosure: The Sixth Circuit’s opinion was authored by Judge Eric Clay, whom I clerked for in 2007-2008.)</p> <p>About a month after the Sixth Circuit ruled, however, the Supreme Court handed down a new decision in <a href="https://casetext.com/case/june-medical-services-l-l-c-v-russo"><em>June Medical Services v. Russo</em></a> (2020). Chief Justice John Roberts’s controlling opinion in <em>June Medical</em> <a href="https://www.vox.com/22356354/supreme-court-abortion-daniel-cameron-emw-womens-surgical-center-kentucky">rejects <em>Hellerstedt’s</em> balancing test</a>, and thus casts a cloud of doubt over the Sixth Circuit’s decision.</p> <p>Cameron, in other words, has a strong argument that the Sixth Circuit’s decision striking down Kentucky’s law should be revisited because it is at odds with the new rule announced by Roberts in <em>June Medical</em>.</p> <p>Which brings us to the specific, extraordinarily technical procedural question before the Supreme Court in <em>Cameron</em>. Ordinarily, if the attorney general of a state disagrees with a lower court’s decision striking down a state law, they would simply file an appeal in a higher court (or, perhaps, ask the same court that struck down the law to rehear the case). But it is unclear whether Cameron can appeal the Sixth Circuit’s decision because of an action taken by Cameron’s Democratic predecessor.</p> <p>The anti-abortion law at issue in <em>Cameron</em> was signed in 2018 by then-Gov. Matt Bevin, a Republican. The next year, Bevin <a href="https://www.vox.com/policy-and-politics/2019/11/5/20949770/kentucky-governor-election-results-andy-beshear">lost his reelection bid to current Kentucky Gov. Andy Beshear</a>, a Democrat who served as the state’s attorney general for most of Bevin’s term as governor. Yet, while the 2019 election flipped the Kentucky governorship from red to blue, that same election made Cameron attorney general — meaning that the attorney general’s office flipped from blue to red.</p> <p>All of this matters because the plaintiffs in the <em>Cameron</em> suit initially sued four state officials in their effort to block the Kentucky law, including then-Attorney General Beshear and then-interim health secretary Scott Brinkman. (Indeed, when the case was originally filed in a federal district court, it was known as <a href="https://storage.courtlistener.com/recap/gov.uscourts.kywd.106470/gov.uscourts.kywd.106470.1.0.pdf"><em>EMW Women’s Surgical Center v. Beshear</em></a>.)</p> <p>Shortly after the lawsuit began, Beshear successfully sought to be removed from the lawsuit as a defendant — and he agreed that “any final judgment in this action . . . <a href="https://www.supremecourt.gov/DocketPDF/20/20-601/187422/20210813120705705_20-601%20Cameron%20v%20EMW%20Women%20Surgical%20Center%20Brief%20for%20Respondents.pdf">will be binding on the Office of the Attorney General</a>, subject to any modification, reversal or vacation of the judgment on appeal.” This agreement initially had little practical impact because a Republican health secretary remained a defendant, and his office continued to defend the state law in court after Beshear was taken off the case.</p> <p>But Beshear’s agreement to step away from the case took on new significance after the 2019 election. Shortly after becoming governor, Beshear appointed current health secretary Eric Friedlander, and Friedlander — who by this point was the only defendant who remained a party to the case — decided not to appeal the Sixth Circuit’s decision striking down the anti-abortion law.</p> <p>Cameron, meanwhile, asked the Sixth Circuit to grant him “intervenor” status — which would enable him to appeal the Sixth Circuit’s decision without having to get permission from Friedlander first. The issue now before the Supreme Court is whether the Sixth Circuit acted properly when it denied Cameron’s request to intervene. Cameron is opposed by the original plaintiffs in the case, an abortion clinic and two abortion providers.</p> <p>It should be noted that, even if Cameron cannot appeal the Sixth Circuit’s decision directly, that decision is unlikely to be the final word on whether Kentucky’s law is constitutional. Under the Supreme Court’s decision in <a href="https://www.supremecourt.gov/opinions/08pdf/08-289.pdf"><em>Horne v. Flores</em></a> (2009), Kentucky may ask a trial court to lift the previous order blocking the anti-abortion law if “‘a significant change either in factual conditions or in law’” renders continued enforcement ‘detrimental to the public interest.’”</p> <p>Thus, Cameron could file a motion in the appropriate federal trial court at any time, claiming that the Supreme Court’s decision in <em>June Medical</em> made “a significant change” to the law governing abortion rights — and therefore that the court order blocking the Kentucky law should be lifted.</p> <p>Yet, rather than taking this step, which even the plaintiffs in the <em>Cameron</em> case <a href="https://www.supremecourt.gov/DocketPDF/20/20-601/187422/20210813120705705_20-601%20Cameron%20v%20EMW%20Women%20Surgical%20Center%20Brief%20for%20Respondents.pdf">concede that Cameron could do</a>, the attorney general decided to take the case to the Supreme Court to fight for his ability to intervene.</p> <p>The Sixth Circuit’s <a href="https://www.scribd.com/document/529810124/Cameron-Intervention-Order">order denying intervenor status to Cameron</a> is persuasive, but not completely airtight under existing law. It faults Cameron for waiting until the last possible moment to file his motion to intervene — nine days after the Sixth Circuit had already issued its decision striking down the Kentucky law.</p> <p>As the Sixth Circuit explains, if nonparties to a lawsuit are allowed to intervene this late in the process — after a trial court and an appeals court have both ruled on the case — such nonparties could game the system. “Potential intervenors,” the Sixth Circuit warns, would have “every incentive to sit out litigation until we issue a decision contrary to their preferences, whereupon they can spring to action.”</p> <p>Just as importantly, while the Supreme Court has not yet weighed in on whether a nonparty to a lawsuit may intervene this late in the process — Cameron concedes in his brief that the Supreme Court “has <a href="https://www.supremecourt.gov/DocketPDF/20/20-601/181643/20210614143821138_20-601%20Petitioner%20Brief%20Merits.pdf">said very little</a> about how to judge the timeliness of a post-judgment motion to intervene, especially one filed in a court of appeals” — the overwhelming weight of lower court decisions indicate that very late motions to intervene are disfavored.</p> <p>The Sixth Circuit is not the only court to weigh in on this issue. A few other appeals courts agree with the Sixth, including the Tenth Circuit, which held that “‘only in an exceptional case for imperative reasons,’ may a court of appeals ‘permit intervention where none was sought in the district court’” — in an <a href="https://scholar.google.com/scholar_case?case=16289482901361155663&hl=en&as_sdt=6&as_vis=1&oi=scholarr">opinion by now-Supreme Court Justice Neil Gorsuch</a>.</p> <p>These decisions are not particularly surprising. Judges of all political persuasions understand that judicial economy is an important value. At some point, litigation needs to come to an end. And that may not happen if nonparties can inject themselves into a case at a very late stage and insist that a new panel of judges should hear the case.</p> <p>The best argument for Cameron’s position, meanwhile, was articulated by the Ninth Circuit in <a href="https://scholar.google.com/scholar_case?case=8640253919037046793&hl=en&as_sdt=6&as_vis=1&oi=scholarr"><em>Day v. Apoliona</em></a> (2007), a case where the state of Hawaii waited until after that circuit court had ruled on a case before it filed a motion to intervene. Although <em>Day</em> faulted Hawaii for waiting so long when it could have intervened “in this matter at any time during these proceedings, both before the district court and before this Court on appeal,” it ultimately decided to excuse Hawaii’s delay because of the court’s “discomfort with what will occur at this stage of the proceedings if its motion is not granted.”</p> <p>If Hawaii was not granted intervenor status in <em>Day</em>, the Ninth Circuit explained, “no petition for rehearing can be filed in this Court, and there will be no opportunity for the Supreme Court to consider whether to” hear the case. Thus, <em>Day</em> granted intervenor status to Hawaii so that it would “not foreclose further consideration of an important issue.”</p> <p><em>Day</em> also captures an important judicial value which is shared by many judges across the political divide. When possible, litigation should be resolved based on the best reading of the law. And states shouldn’t have their laws permanently enjoined by a federal court because of technical procedural errors by the state’s lawyers.</p> <p>At this point I will pause to note that, if I were a justice, I would vote to affirm the Sixth Circuit’s decision denying intervenor status to Cameron. While I agree with <em>Day</em> that state laws should not be subject to unappealable permanent injunctions because their lawyers filed a motion too late, that problem does not exist in the <em>Cameron</em> case. Under <em>Horne</em>, Cameron may still challenge the court order blocking Kentucky’s law by filing the appropriate motion in a federal district court.</p> <p>But a reasonable judge could also conclude that the state’s interest in being able to directly appeal an adverse court order overcomes the ordinary rule that motions to intervene should be denied if they are filed too late.</p> <p>All of which is a long way of saying that, if you ignore the fact that <em>Cameron</em> happens to involve an anti-abortion statute, the specific legal question presented by the case is both fairly difficult and not especially political. A truly nonpartisan Supreme Court could come down either way in the case, with liberal justices potentially siding with Cameron and conservative justices siding against him.</p> <p><em>Cameron,</em> in other words, is a kind of lie detector test for the Supreme Court. The justices tell us that they are capable of deciding politically charged cases in a nonpartisan way. But if this case ends with all six of the conservatives voting for the anti-abortion attorney general, and all three of the liberals voting against him, we will know that they aren’t telling the truth.</p> <br /> <br /> source <a href="https://www.vox.com/2021/10/7/22709197/supreme-court-abortion-cameron-emw-womens-surgical-center-partisan-hacks">https://www.vox.com/2021/10/7/22709197/supreme-court-abortion-cameron-emw-womens-surgical-center-partisan-hacks</a>

vox The Supreme Court takes a lie detector test

The justices are feeling insecure. Four members of the Supreme Court — Justices Clarence Thomas , Stephen Breyer , Samuel Alito , and Amy ...

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