Tag: Spending

US economy expanding?

Tina Marie (Ms. Cat)2 Comments

The first estimate of third quarter real GDP growth in the US was released yesterday. It showed the US economy expanded by an annualised rate of 4.9%. The Financial Times called this a “blistering pace that, not for the first time, defied gloomier predictions from economists.” US Treasury Secretary Janet Yellen commented that “It’s a good, strong number and it shows an economy that’s doing very well,” and she is “not expecting growth at that pace to continue, but we do have good, solid growth.”

US economy expanding?

Everyone pays the cost as the rich keep spending

Tina Marie (Ms. Cat)

Everyone pays the cost as the rich keep spending

Meanwhile, the Biden White House is doing what it can to buffer inflationary pain for working people. It has been releasing strategic petroleum reserves in a partly successful effort to lower prices at the pump, extending pandemic-era caps on some student loan payments and pushing for antitrust action in areas where corporate concentration (which has grown hand in hand with financialisation) may be responsible for some inflationary pressure.

But more changes are needed. The success of corporate lobbyists in overturning efforts to roll back carried interest loopholes are shameful. Student debt forgiveness — no matter how generous it is — will not change the fact that the cost of four years of private university in the US (an elastic cost that can be bid up indefinitely by the global rich) is nearly double the median family income. Housing markets continue to cry out for major reform.

I suspect it will take a younger generation to push through these sorts of systemic changes. They simply don’t have as much asset wealth to protect.

CDC Tracked Millions of Phones to See If Americans Followed COVID Lockdown Orders

Tina Marie (Ms. Cat)

CDC Tracked Millions of Phones to See If Americans Followed COVID Lockdown Orders

The documents reveal the expansive plan the CDC had last year to use location data from a highly controversial data broker. SafeGraph, the company the CDC paid $420,000 for access to one year of data, includes Peter Thiel and the former head of Saudi intelligence [Turki bin Faisal Al Saud] among its investors. Google banned the company from the Play Store in June.

The CDC used the data for monitoring curfews, with the documents saying that SafeGraph’s data “has been critical for ongoing response efforts, such as hourly monitoring of activity in curfew zones or detailed counts of visits to participating pharmacies for vaccine monitoring.” The documents date from 2021.

Zach Edwards, a cybersecurity researcher who closely follows the data marketplace, told Motherboard in an online chat after reviewing the documents: “The CDC seems to have purposefully created an open-ended list of use cases, which included monitoring curfews, neighbor-to-neighbor visits, visits to churches, schools and pharmacies, and also a variety of analysis with this data specifically focused on ‘violence.’” (The document doesn’t stop at churches; it mentions “places of worship.”)

Related:

Data Broker Is Selling Location Data of People Who Visit Abortion Clinics

Location data broker SafeGraph stops selling information on visits to abortion providers

SafeGraph Provides CDC and 1000+ Organizations With Data to Fight the COVID-19 Crisis

Google Bans Location Data Firm Funded by Former Saudi Intelligence Head:

On its website SafeGraph says “We believe places data should be open for all.” In April 2017, Turki bin Faisal Al Saud, the former head of Saudi Arabia’s intelligence agency, invested in SafeGraph as part of a $16 million Series A funding round. SafeGraph said it had “assembled the deepest policy thinkers.” Beyond Faisal Al Saud, SafeGraph said it had enlisted the help of former U.S. House Majority Leader Eric Cantor, author Sam Harris, Meghan O’Sullivan who ran Iraq and Afghanistan policy under President George Bush, former Deputy Chief of Staff to President Obama Mona Sutphen, and former German Minister of Defense Karl-Theodor zu Guttenberg, among others. Peter Thiel is also an investor in the company.

More investors: SafeGraph Raises $16 Million Series A