Two interesting articles on the nature of fiat currencies today.

First, Stephanie Kelton has an op-ed in the NYT titled How We Think About the Deficit Is Mostly Wrong.

Second, J.D. Alt notes that Italy is dipping its feet into MMT territory.

Your video, Dick Dale - Surfin the Wedge - Live on TV 1963 Ed Sullivan S, has made it into the Top 15 New Videos listing. Congratulations on your achievement. For your contribution you have been awarded 1 Power Point.

The thumbnail image for this video has been updated - thumbnail added by Mordhaus.

As someone who went through 2 rounds of sex ed -- through my family's church (better than you think, but not by much), and public school (worse than you think; mostly consisting of "here's a picture of a dick with gonorrhea, LOOK AT IT"), it seems like videos like this available through YouTube are likely to be a massive improvement on practical sex ed. So kudos to the consistently awesome Green brothers for figuring that out and doing something about it!

However, I would point out a misleading bit in the YT text:
"Probabilities eventually collapse into reality, and then that couple no longer has a 2% chance of probability, they have a 100% chance, because they're pregnant, and everyone else has a 0% chance."

...Yeah, not really. That couple is still subject to the 2% probability, they just happen to be one of the statistically (mildly) unlikely examples that make the chance 2% instead of 0. And much more importantly, everyone else still has a 2% chance, not a 0% chance.

Misunderstanding statistics / probability in that way leads to all kinds of erroneous assumptions and behavior. Like putting a huge bet on red + even in roulette because the past 5 hits have been black + odd and red + even is "due". Or driving around with no seat belt because someone you know was just in an accident, thereby biting the "statistical bullet" and making everybody else safe for a while. Every roll of the dice is a new event with the same odds as the roll before it.

I had to read this op-ed. No fan of DT, however I am painfully aware that our news coverage of him is pretty much click-bait with little real substance. This photo is an example -- pictures can lie, they are but a moment in time.

I have to think that this op-ed is accurate -- there are some really horrendous things mentioned that are no credit to DT. And it would be too easily disproved if there were outright lies. (And yes, there is a whiff of BS, but nobody in politics can get by without a whiff of BS. NOBODY.)

https://www.nytimes.com/2017/07/13/opinion/the-trump-vision-for-america-abroad.html

The Molecular Shape of You (Ed Sheeran Parody) has been added as a related post - related requested by eric3579 on that post.

The Molecular Shape of You (Ed Sheeran Parody) has been added as a related post - related requested by eric3579 on that post.

The Molecular Shape of You (Ed Sheeran Parody) has been added as a related post - related requested by eric3579 on that post.

The Molecular Shape of You (Ed Sheeran Parody) has been added as a related post - related requested by eric3579 on that post.

The thumbnail image for this video has been updated - thumbnail added by eric3579.

About the 3-minute mark, Maher quotes Ed. Snowden's about the choice being between Trump and Goldman Sachs. Maher is close to getting it, but falls short.

The choice wasn't between Trump and Godman Sachs, it was between Godman Sachs and Goldman Sachs.

Hillary might have ended up being 'not quite as bad,' but 'not quite as bad' doesn't equal "good."

She'd probably have appointed just as many people from G.S., though probably different people for different positions.

The problem is still present: the banks run America.

@newtboy
gonna have to disagree with ya there mate.

not so much on the speculation in regards to trump involvement,or some kind of capitulation with russia.there quite possibly be some co-ordination between the kremlin and the trump administration.trumps alleged ties with putin may all be true,but until i see some actual evidence,that is all it will ever be;speculation.

and i think chomsky's criticism is a valid one.
the "russia russia russia" drum beating is reminiscent of the republicans and their meth-induced media barrage of "benghazi benghazi benghazi",and even after their precious political whipping tool had been debunked,they STILL beat that drum.

and of course it is hypocritical of the US government to cry about political election interference! america has been interfering with other,sovereign countries democratic elections for decades!

because here in murica' we like our allies to be either be run by despotic leaders,or rigid theocracies,because democracies are hard to manipulate and control.can't be bribing an entire citizenry now can we? we like our foreign allies like we like our meat,juicy and tender and easy pickings.

now i am not here to defend putin.the man is a brutal authoritarian,who may appear to some as a russian patriot,but i just see a ruthless and saavy political player who appeases the only constituency that matters to him.the russian oligarchs,and they OWN that fucking joint.

but it was NATO who began to encroach on russian borders,not the other way around.in fact,as early as the 80's we began that encroachment.we lied to gorbachev,who was removed as president in shame,to be replaced by yeltsin.who was america's pick for their own little tool of the kremlin.

russia's military build-up has been a direct response to our ever-increasing wars of aggression in the middle east.putin has stated so publicly.

russia's biggest export is oil and natural gas,and russia pretty much is the sole provider for all of europe.with our wars in the middle east,and now qatar aggressively seeking to push through their own oil and gas pipeline to sell to europe.(what?you thought yemen and syria were about civil wars and terrorists?).

what did you THINK russia was going to do?
sit back and let their only major export be challenged?

and now that trump,like the buffoon he is,publicly stated that if the baltic states are not willing to pay their fair share towards NATO,then they will be removed.opening the door for putin.

poor latvia...

but lets waste all this time on "russia russia russia",while ignoring the larger implications of a fucking world war.

did russia manipulate US elections?
possibly..probably..
was the trump administration complicit?
possibly..probably..

is their any evidence beside speculation,and coincidence?
nope.

chomsky makes a valid point.

http://www.latimes.com/opinion/op-ed/la-oe-shifrinson-russia-us-nato-deal--20160530-snap-story.html

All the indoor ranges I've been to (admittedly not many) are designed so even shots waaaay off target like this one won't ricochet. Usually there are at least a few holes in the ricochet-proofing. Loaded firearms should always be pointed downrange, so even though this guy f-ed up badly, at least he had that part right and the actual hazard here was minimal.