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World world

A theme park, opening soon along the gulf coast of Arkansas, promises visitors – and investors – more than just memories and a fun time with family.

Luring adventurers to the Land of All Time-themed playground, guests enjoy lily pad accommodations floating throughout the 38-square-mile park, on water and undulating, recycled “terrain.”

“It all started here – everything is from the closed loop, after all. So we just call it all natural,” said Stan Brimmingway, mastermind of the park and keeper of its honorary specimens. Modestly dressed in a smart Tyvex onesie, Stan pets a miniature bull before shepherding the creature back to its keeper. “Back when land was still bought and sold, people were fine with trading money for all of this,” he said and gestured broadly. “So we were glad to just get as much as we could – people thought they were losing land, but look at that view. The water is so much more alluring when its closer to the mountains anyway.”

And it’s unmistakable. A kind of Mediterranean vista, nestled in the Ozark foothills. Whether technology saved this landscape or invented it, it has definitely changed. “And that’s not new – and kinda the point,” Brimmingway said with a glint of enthusiasm not entirely absent of P.T. Barnum. “What is fitness after all other than the result of the effort it takes you to do normal things – otherwise it can be really hard to see this.”

Impossible, he means. Living in a moment most often means being defined by it. Unless you can imagine the Land of All Time, seeing today in context can be simply too much work. But that’s where the park comes in.

“It’s true that we brought ourselves to this place – totally our fault,” he said. “But imagine a glacier sitting on New York, or the invention of writing 3,500 years ago.” His voice trails off, galloping after his ow, quite visible sense of wonder.

“The thing about this is, it’s not only possible. It all happened. Check it out.”

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Asset Class not in Session

Exotic financial instruments. Linking ‘investors’ and funding to projects to weave profits out of insurance or management strategies designed to ease or hasten climate adaptation… doesn’t actually work:

That’s because of the nature of the underlying “asset.” Sure, in theory, you could securitize the construction of a seawall and capture returns via fees from wealthy coastal dwellers or local councils. But seawalls are not widgets. Each has to be uniquely designed for a specific location and its conditions. There are few economies of scale.

There’s also no established norm about how the costs of climate adaptation projects should be shared among those who are being protected. Will enough residents willingly pay for our theoretical seawall, either directly or via their taxes? Who’s being protected, and at whose expense? Structures that protect one stretch of beach can often create problems further along the coastline.

Adaptation doesn’t fall into a neat category. It can mean investing in infrastructure or designing programs to protect nature. It can involve constructing big sea walls, but it can also be about retaining trees on city streets, or ensuring access to clean drinking water. Right now these measures are too small to interest big pension funds and asset managers. A report by UNEP and others found only about two dozen projects larger than $25 million over the last few years.

Important to separate the reality that climate measures are necessary, and will necessarily save money down the road, from the notion that they represent just another opportunity to build a new revenue stream. The article wisely links climate to justice, and as much as it pains many Americans, there is no way around that. It has been true for even longer than it’s been evident – and it’s been evident for a very long time: people cannot live without justice. Racial. Climate. Economic. These are non-negotiable bonds, in the common parlance. We will do it for its own sake, because it benefits people. THAT’s the return. Clean up the rentier class soiling the revenue stream, the water will run clearly.

Image: Photograph: Emory Kristof/National Geographic/Getty Images

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Schooling ≠ Education

Surrounded by moral quandaries and crises, we look up from fast food containers unable to ponder greater questions beyond the value menu. Did these questions sneak up on us, or have they been there all along and we just eliminated the practice of engaging them? Cornel West and Jeremy Tate bring light and a bit of heat in the WAPO on the removal of classics at Howard University:

Academia’s continual campaign to disregard or neglect the classics is a sign of spiritual decay, moral decline and a deep intellectual narrowness running amok in American culture. Those who commit this terrible act treat Western civilization as either irrelevant and not worthy of prioritization or as harmful and worthy only of condemnation.
Sadly, in our culture’s conception, the crimes of the West have become so central that it’s hard to keep track of the best of the West. We must be vigilant and draw the distinction between Western civilization and philosophy on the one hand, and Western crimes on the other. The crimes spring from certain philosophies and certain aspects of the civilization, not all of them.
The Western canon is, more than anything, a conversation among great thinkers over generations that grows richer the more we add our own voices and the excellence of voices from Africa, Asia, Latin America and everywhere else in the world. We should never cancel voices in this conversation, whether that voice is Homer or students at Howard University. For this is no ordinary discussion.
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Howard University is not removing its classics department in isolation. This is the result of a massive failure across the nation in “schooling,” which is now nothing more than the acquisition of skills, the acquisition of labels and the acquisition of jargon. Schooling is not education. Education draws out the uniqueness of people to be all that they can be in the light of their irreducible singularity. It is the maturation and cultivation of spiritually intact and morally equipped human beings.

So much of higher education has folded in the face of market pressures, political interference, and fraud that it finds itself all but unrecognizable to former guises. Not wanting to be recognized as what you are can leave you paralyzed when you’re unwilling to defend against impotent charges like teaching social justice. Such charges are softballs and should be parked deep in the cheap seats. But lack of engagement – reading, writing, arguing – makes us afraid of politics, and bullies. We abandon the classical education model at our peril, leaving everyone unable to navigation complexities and only further clearing the path to the bottom-line. Only 99 cents!

Trade school is not an admonition.

Image: Cardinal Sin by Banksy

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The President Show

Look what you can do instead of hosting The President Show:

Second, the rescue bill has quietly become an infrastructure bill. It devotes $350 billion to supporting state and local governments. These funds, initially proposed to plug COVID-19-created holes in public budgets, in many cases now exceed those holes. So the Senate has allowed states, cities, and counties to spend that money on improving services such as water, sewage, and broadband. Because many water systems are vulnerable to climate change and must be adapted, this is de facto climate funding. The bill also contains $31 billion for tribal governments and Indigenous communities, including line items for new infrastructure, housing, and language preservation.

Downtown in our quaint little burg, one of the main streets in the central business district has been a mess for about three months, with sidewalks and the street alternately under massive excavation as sewers, power and water lines are replaced and updated. It’s a huge mess on a one way street in a tiny downtown and it’s not apparent when it will be completed. But that’s how badly needed it was, likely long overdue precisely because it’s such a hassle. Some of what is being replaced was likely original – whatever that might mean in this context. There’s a reason people/governments don’t want to do this. It’s hugely disruptive and expensive. But also absolutely necessary. There are likely 10,000 places this needs doing. So fix them, get started. And robots can’t do this work, btw. More boring accomplishments, please.

And then let’s dance to this music.

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Don’t Look at This

Years ago, I worked construction. Mainly residential stuff but several projects were connected to renovations of a downtown business. The address had(has) a courtyard with large steel gates and several times we had to do some welding on said gates in proximity to pedestrians passing on the sidewalk. During these occasions, we would station one of the guitar players laborers next to the action with a sign telling curious passersby something like, ‘Welding, Don’t look!’ Invariably, said passers would look directly at the sparkling blinding arc.

Nutso Trumpers have spooked politicians in D.C. today, saying they were returning for Trump’s inauguration and return to power. Trump himself has still been saying he won the election and is the real Preznit. Meanwhile, the government has done not so much about anything that happened on 1/6. Dallying about legislative fixes, allowing elected hucksters to read fantasies into the record, hold-up nominations, water down bills and glad-hand insurrectionists.

They are traitors. They broke more than norms. Come out smoking. Grab Hawley by the scruff of his IV neck and let him know his Jeff Davis-abetting will not be tolerated starting last Tuesday. Push the new Voting Rights Act. Put Harriet Tubman on the 20. Make DC and PR states. Get. In. Their. Faces.
The whole shebang remains on the cliff edge. Don’t look.

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THE QUESTION

With apologies to Henri Alleg*, do self-identifying Republicans (elected and otherwise) embrace “American fascism” based on white supremacy, irrationality, ignorance, xenophobia, antisemitism, violence, and anger and dehumanization?

Those who haven’t, need to decide. It’s a pretty easy question, and for all those who have answered in the affirmative, they should be treated as such.

Recommended reading. Sartre’s introduction is important, the book itself, harrowing.

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Planetary quandary as nomenclature

If you can get beyond the extraordinary and expected CEO worship, there are worthy bags to unpack on the subject of Capitalism struggling with the language of climate change:

Confusing climate terminology has become commonplace among governments, and in some cases can even understate more far-reaching goals. Kelly Levin at the World Resources Institute found that many European countries say their goal is carbon neutrality, but digging in the documents reveals the target covers all greenhouse gases. California, which would be the world’s fifth-largest economy if it were a country, makes the same mistake.

“These are growing pains, as we translate the science into what it means for business and society,” said Ateli Iyalla, managing director of North America for CDP, a group advocating emission disclosures. “It’s important to use the right language and get the terminology right to send the right signals to the marketplace.”

Suspicion of implied deliberate obfuscation is warranted, so caveat lector always. A fixation on the marketplace, kicking the can as far out as it can be painlessly imagined deserves skepticism. But this struggle is admitting a chief flaw of capitalism, as a system seeking to right itself when solutions beg its very existence. As a system ideology, capitalism will not be able to completely reconcile its culpability without a commensurately profitable framing, it’s just an impossibility, a sine qua non of the entire, roll-up-your-pants, build-the-deck-higher mentality in the face of literal and figurative rising seas.

We can be interested in this struggle as an intellectual, artistic matter, yet parsing its ongoing circulation throughout financial systems and wealth management strategies it must be seen as an altogether different sort of reckoning: signal-sending, profit-guarding and bottom-line-feeding. Until mass audiences awaken to lead with solutions – changes in mindset, how we live and and move about, big finance will continue to lead from behind. It’s all they really know how to do, reinforcing an atmosphere in which it is highly incumbent on all to compare its track record with any new directions they are offering.

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Dude diligence

This reddit/hedge fund cage match is everything about green (almost) rolled into one! It’s almost too much (get it?):

Wall Street hedge funds are scrambling, and it’s all because of a online investing forum that has more than 4 million members who self-describe themselves as “degenerates.”

Reddit’s WallStreetBets forum has surged in popularity after retail investors within the group successfully staged a gravity-defying short-squeeze in GameStop at the expense of hedge funds that were betting the physical video-game retailer was on its last legs.

A short-squeeze occurs when investors who are betting against the stock are forced to close out their position by buying the stock, further adding fuel to the fire.

As of Thursday morning, GameStop had a year-to-date gain of more than 2,400%. The rally in GameStop crushed Melvin Capital, a roughly $12 billion hedge fund that has suffered a more than 30% decline due to its short position in GameStop.

OMG, shorter all hedge fund doods: Stop doing what we do all the time because you’re not qualified to run a casino like we so definitely aren’t running, not at all, nosiree!

Bonus fun:

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Legitimacy Crises

Republicans have gone from one lie to the next to others yet again, working ever so vainly to find some way to spare Trump the truth about his demise. In sewing all their pants together at the waist, few seem capable of running away or getting out of the boat as it takes on more and more water. Lord Saletan explains:

Having stoked this distrust, the president and his allies are now exploiting it. They argue that the fraud must be real since so many people believe in it, and that even if it can’t be proved, widespread disbelief in the results makes the election illegitimate. On Fox News, Republican poll numbers have become a routine substitute for evidence. Trump points to them as proof that “the election was rigged.” His campaign advisers, including Lara Trump, also cite these numbers. Last week, Sen. Ted Cruz said the Supreme Court should intervene because “39 percent of Americans right now believe this last election was rigged.” In Georgia, Sen. Kelly Loeffler demanded that the secretary of state resign because “Georgians have lost faith in our elections.” House Minority Whip Steve Scalise, noting the “distrust” felt by “millions of people,” refused to say that Trump should accept the verdict of the Electoral College.

A proportion of the country believes that Democrats, or other unseen forces, are taking away their freedom, liberty, and whatever else. But it’s Republicans themselves that are doing most of the heavy lifting here. How much gullibility compartmentalization does it take to keep believing that poverty and pollution both are natural? To believe that society and the commonwealth are intrinsically evil, that social justice goes against Christ? That an all-seeing omnipotent benevolence shines upon all but draws the line at national borders, skin color, gender, or sexual orientation? It must be exhausting. But they can’t take even an hour off or else liberal democracy will prevail and the temerity to count people and their votes will leave all the militia babies to cry in the night.

It all seems like such a necessary precursor to what they are most afraid of that some may assume after the fact they were complicit.

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Good for Business

According to a non-profit that runs a global disclosure system for investors, companies, municipalities and even regions, companies taking strong climate action rose 46% just in 2020. Those rated highly by the nonprofit for their climate disclosures gained 5% more in the stock market than their peers over the past seven years.

And yet, the Nature Conservancy has gone old-school Papal, selling indulgences to companies to absolve them of their climate sins:

The Nature Conservancy recruits landowners and enrolls its own well-protected properties in carbon-offset projects, which generate credits that give big companies an inexpensive way to claim large emissions reductions. In these transactions, each metric ton of reduced emissions is represented by a financial instrument known as a carbon offset. The corporations buy the offsets, with the money flowing to the landowners and the Conservancy. The corporate buyers then use those credits to subtract an equivalent amount of emissions from their own ledgers.
The market for these credits is booming, according to BloombergNEF, a clean-energy research group. In the first 10 months of this year, companies used more than 55.1 million carbon credits to offset their emissions (equivalent to the pollution from 12 million cars), a 28% increase from the same period in 2019. While some of these credits are paying for projects that are truly reducing emissions, an unknown number represent inflated claims.
Few have jumped into this growing market with as much zeal as the Nature Conservancy, which was founded 69 years ago by a small group of ecologists seeking to preserve the last unspoiled lands in the U.S. In the seven decades since, the nonprofit in Arlington, Va., has grown into an environmental juggernaut, protecting more than 125 million acres. Last year its revenue was $932 million, which eclipsed the combined budgets of the country’s next three largest environmental nonprofits.
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“For the credits to be real, the payment needs to induce the environmental benefit,” says Danny Cullenward, a lecturer at Stanford and policy director at CarbonPlan, a nonprofit that analyzes climate solutions. If the Conservancy is enrolling landowners who had no intention of cutting their trees, he adds, “they’re engaged in the business of creating fake carbon offsets.”
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Barbara Haya, research fellow at the University of California at Berkeley, has studied these types of carbon projects for almost two decades. “We just don’t have time for false offsets that take credit for reductions that were already happening anyway,” she says.

Trees are extraordinarily important, but selling protected forests multiple times as carbon offsets is a phony practice. The wordplay around potential de-forestation and the urgency of doing more about a burning planet create a perfect field for corporate skullduggery. An environmental ledger, per se, that allows for continual stacking on both sides does little other than perpetuate the tried-and-false bottom-line thinking by corporations. They/we are going to actually have to do the hard stuff – slow boats, sun-powered planes, more density, more trains – to reduce net emissions. Real reductions, not carbon deals. Carbon offsets may once have been an easy way toward ‘doing’ something about climate change, but it is time to move away from them.