The Observations Podcast Observations Podcast

In this episode, we take a look at some interesting international stories from the past week. Then we start an initial inquiry—which we'll have to take up again later—about the results of financializing the world economy.

In this episode, we discuss the latest activities in the legal cases against Donald Trump. We also discuss the upcoming election, and the Biden administration's general ineptitude, especially in regard to the Israel/Gaza conflict.

We start with an update on the YouTube situation, where one of our podcasts has been permanently banned. We then discuss Jared Bernstein, the man who is Biden's Chief Economic Advisor, besides having no formal education in, or apparently knowledge of, economics. His response to a Modern Monetary Theory (MMT) question was…interesting. MMT is the luminiferous aether of the 21st century. Politico--surprisingly--reports that the usual suspects are the funding force behind the current wave of pro-Palestine protests on campuses. The Biden administration's new Title IX rules are going to be held up in federal courts for years. Finally, Kristi Noem, in day 8 of the puppycide saga, has now suggested the Joe Biden should've shot his German Shepherd, Commander. She's pretty much destroyed any political future she might have been hoping for.

We received a Community Guidelines warning, and had a video removed from YouTube. The offending passage was Dale reading verbatim from a Federal Court opinion in a podcast released nine months ago. YouTube's moderation process, like their DMCA process, is unacceptably faulty. We also discuss how a Trump/Biden contest seems like a failure of our political system. Finally, Kristi Noem thought it would be a good idea to demonstrate how good she is at making tough decisions by telling us about the time she shot a puppy. And a goat, for good measure.

This week we start with several seemingly unrelated news items. But they all share a common thread: A childlike conception of the world that can only be found in societies descending into decadence. But decadent societies not only build nothing, they preserve nothing that was already built. The end result of decadence is always disaster for a society that engages in it.

It's a bit of a short podcast this week, taken up mainly by a discussion of a complex economic question. Since the 1970s, workers' wages have largely stagnated. Wages stopped increasing with productivity. Wages have declined as a share of GDP. Meanwhile, wages for the very top income earners, "the 1%", have sharply increased. Either we've gone back to 19th-century unregulated capitalism...or the government is somehow involved. Also, Arizona Democrats are being forced to learn how laws work.