Author: Net economy

With ‘judges judging judges,’ rogues on the bench have little to fear

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Confidential justice for judges is common in America. At least 38 states – Oklahoma among them – issue private sanctions when judges misbehave. The name of the judge remains secret, and most of these states keep from the public details of the transgression and the discipline. At a minimum, most states release summary statistics of how many judges are privately disciplined each year. Oklahoma doesn’t make that information public.

This practice – law professor Stephen Gillers calls it “judges judging judges” – undermines the system’s ability to prevent misconduct on the bench.

Source: With ‘judges judging judges,’ rogues on the bench have little to fear

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Virus tricks the body into attacking brain; common heartburn drugs linked to coronavirus risk | Reuters

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Coronavirus tricks the body into attacking the brain

Numerous neurological problems such as tremors, seizures, and impaired consciousness have been linked to severe COVID-19, and a small German study may have uncovered a mechanism by which the virus appears to trick the body into attacking the brain. Researchers have been seeing these symptoms without finding the coronavirus in the cerebrospinal fluid circulating through the brain and spinal cord.

It appears that patients’ immune systems are producing what are known as autoantibodies that mistakenly target a person’s own tissues or organs, researchers reported on Monday on medRxiv, in advance of peer review.

Source: Virus tricks the body into attacking brain; common heartburn drugs linked to coronavirus risk – Reuters

Corona Capital: British homes, Asian skies | Reuters

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EXTRA BOOST. British housebuilder Persimmon said on Thursday that revenue plunged more than 30% to 1.2 billion pounds for the six months ended June 30 after the housing market screeched to a halt during two months of lockdown as potential buyers were generally unable to visit homes.

But things aren’t all bad. Customer demand in the six weeks since its sales offices in England reopened in mid-May showed signs of life, with around 30% more weekly average net private sales reservations than last year.

On top of that, Chancellor Rishi Sunak confirmed on Wednesday that he will give the housing market a tax break, at a cost of 3.8 billion pounds. Thursday’s hint of a recovery pushed Persimmon shares up more than 5% and suggests Sunak jumped the gun. With the economy expected to contract almost 9% this year, the money may be needed elsewhere. (By Dasha Afanasieva)

Source: Breakingviews – Corona Capital: British homes, Asian skies – Reuters

What’s Next for the WTO?

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The World Trade Organization (WTO) is the principal forum for setting the rules of international trade. In its two and a half decades, it has helped reduce barriers to trade of both goods and services and created a dispute resolution system that supporters say reduced the threat of trade wars.

However, the institution is under considerable pressure. Negotiations on a comprehensive development agenda have foundered due to disagreements over agricultural subsidies and intellectual property rights, while members have increasingly turned to separate bilateral and regional free trade agreements to advance their trade interests.

Meanwhile, U.S. President Donald J. Trump has criticized the WTO for what he sees as its weakness in confronting China’s trade abuses and constraints on U.S. sovereignty. His administration has intentionally crippled the organization’s appeals body, ensuring that its decisions cannot be enforced and placing the future of global trade rules into doubt.

Source: What’s Next for the WTO?

The State of Argentina’s Debt Restructuring… | Council on Foreign Relations

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Argentina pushed back the deadline for its restructuring to the end of July, after failing to reach agreement with a majority of its creditors on terms for the restructuring of Argentina’s $65 billion in bonded debt.

Differences have narrowed to the point—a few cents on the dollar—that it isn’t that difficult to see how a deal could be struck in July. But the narrowing of differences with some creditors (Argentina’s most recent offer was worth around 50 cents on the dollar at a ten percent discount rate on the new cash flow, with the high coupon “discount” bonds offered about five cents more) has made the gap between Argentina and the subset of creditors who want a richer deal much clearer.

Source: The State of Argentina’s Debt Restructuring… | Council on Foreign Relations

Slouching Toward Phase One | Council on Foreign Relations

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Once an administration strikes a deal with China, it often ends up finding itself playing the role of China’s defense attorney. Admitting that China isn’t living up to the deal would cast doubt on the wisdom of the initial deal.

And right now, it would also raise a second awkward question for President Trump, namely what if anything is he willing to do ahead of the election if China isn’t living up to its end of the bargain. Going back to tariff threats might trigger a stock market sell-off (and it obviously wouldn’t do anything to help contain the virus).

Source: Slouching Toward Phase One | Council on Foreign Relations

AMLO’s Strange Trip to Washington Baffles Mexicans but Thrills Trump

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Dismissing his critics, the populist leader Tuesday took his seat in coach on a commercial flight to Atlanta, where he changed planes on the way to Washington, as critics cringed at the repercussions of his gamble. Only Trump is all but assured to benefit from the jaunt. Most everyone else has been left wondering why on Earth AMLO chose to meet with an American president who has made a political punching bag of Mexico, at this charged moment, with less than four months left until Election Day in the United States.

The last time a Mexican president took a similar gambit, it ended in disaster.

Source: AMLO’s Strange Trip to Washington Baffles Mexicans but Thrills Trump

When Congress Chose Not to Equalize Access to US Citizenship | Time

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The Senate’s debate did not begin over race and citizenship, but rather over election fraud and reform of the naturalization process. Republicans blamed their losses in recent elections on Irish and German immigrants who were churned out of “naturalization mills” just in time to vote for Democratic candidates. Depending on one’s political perspective, the Republican-backed Naturalization Bill either sought to “purify the ballot-box” or to make access to citizenship as complicated and expensive as possible, ultimately discouraging immigrants from even applying.

Sumner added fire to an already explosive debate with his amendment to do away with the “whites only” clause of the naturalization law. Congress had already amended the Constitution and passed civil rights acts to protect newly freed African Americans during Reconstruction. Sumner now pushed the Senate—an all-white male institution except for Hiram Revels of Mississippi, the nation’s first Black Senator—to expand Reconstruction’s great promise.

Source: When Congress Chose Not to Equalize Access to US Citizenship | Time

It’s a Defining Moment in the Fight Against Climate Change | Time

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From our vantage point today, 2020 looks like the year when an unknown virus spun out of control, killed hundreds of thousands and altered the way we live day to day. In the future, we may look back at 2020 as the year we decided to keep driving off the climate cliff–or to take the last exit.

Taking the threat seriously would mean using the opportunity presented by this crisis to spend on solar panels and wind farms, push companies being bailed out to cut emissions and foster greener forms of transport in cities.

If we instead choose to fund new coal-fired power plants and oil wells and thoughtlessly fire up factories to urge growth, we will lock in a pathway toward climate catastrophe. There’s a divide about which way to go.

Source: It’s a Defining Moment in the Fight Against Climate Change | Time

5 great day trips to take in Japan! | Stripes Japan

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The Land of Rising Sun is home to many amazing tourist attractions. You may have been told to visit Kyoto and Nara, or an MWR tour may already have taken you on a trip to Mount Fuji.

According to travel comparison site Travelko, the most popular traveler’s destinations within Japan (as of winter 2019) include Tokyo Disneyland, Sapporo (Hokkaido), Kyoto, Hakata, Naha (Okinawa), Kanazawa (Ishikawa), Tokyo and Osaka.

Source: 5 great day trips to take in Japan! | Stripes Japan