Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures:
• Corporate Landlords ‘Aggressively’ Evicted Tenants During Pandemic, House Report Says: A new report from a House subcommittee alleges that four companies, including Invitation Homes and Pretium Partners, used harsh tactics to push out thousands of renters. (Bloomberg)
• The audacious PR plot that seeded doubt about climate change: Thirty years ago, a bold plan was cooked up to spread doubt and persuade the public that climate change was not a problem. The little-known meeting – between some of America’s biggest industrial players and a PR genius – forged a devastatingly successful strategy that endured for years, and the consequences of which are all around us. (BBC) see also Looking for someone to blame for the extreme heat? Try Wall Street: Banks’ financing of coal, oil, and gas was higher in 2021 than it was in 2016, the year after the Paris agreement was adopted. (The Guardian)
• FBI investigation determined Chinese-made Huawei equipment could disrupt US nuclear arsenal communications Multiple sources familiar with the investigation say there’s no question the Huawei equipment has the ability to intercept not only commercial cell traffic but also the highly restricted airwaves used by the military and disrupt critical US Strategic Command communications, giving the Chinese government a potential window into America’s nuclear arsenal. (CNN)
• The Water Wars Come to the Suburbs A community near Scottsdale, Arizona, is running out of water. Amid the finger-pointing, the real question is: how many developments will be next? (New Yorker)
• The Single Most Important Thing to Know About Financial Aid: It’s a Sham. Colleges claim to award scholarships based on merit or need. In reality, they’re just charging the most they think families will pay. (Slate)
• Yes, Social Media Really Is Undermining Democracy: Despite what Meta has to say. (The Atlantic) see also Red states are building a nation within a nation. It was the latest example of how red states, supported by Republican-appointed judges, are engaging in a multi-front offensive to seize control of national policy even while Democrats hold the White House and nominally control both the House and Senate. (CNN)
• Because of Course: States With Abortion Bans Are Among Least Supportive for Mothers and Children They tend to have the weakest social services and the worst results in several categories of health and well-being. (New York Times)
• The Supreme Court Is Making America Ungovernable: The West Virginia v. EPA ruling signals a future in which no one in power has the ability to tackle the biggest issues society faces (The Atlantic)
• Book-banning is on the rise, as part of the far-right’s assault on democracy: Attacks on books occupy a special place among the signposts of philistinism and anti-democratic suppression. So it’s proper to be alarmed at the upsurge of efforts to ban books from public schools and libraries, largely because they represent political views, lifestyles and life experiences that organized groups characterize as objectionable. (Los Angeles Times) see also ‘US democracy will not survive for long’: how January 6 hearings plot a roadmap to autocracy Trump’s efforts to subvert the elections laid bare the system’s weaknesses, exposing it to greater exploitation (The Guardian)
• An Ode to Trump’s Outtakes: His post-insurrection-speech rehearsals are even more revealing—and disturbing—than the final version (The Atlantic)
Be sure to check out our Masters in Business interview next weekend with Hannah Elliott, who covers all things automotive for Bloomberg. We discuss today’s wild car market, Motorcycles going electric, LA car culture, vehicles competing with Tesla, and all of her favorite hypercars, and why you should do the $10,000 Ferrari track course.
Fiscal Backlash: Austerity Hangovers Follow Crisis Spending
Source: Mehlman Castagnetti
To learn how these reads are assembled each day, please see this.