Category : * Economics, Politics

(WSJ) Companies Are Desperately Seeking ‘Storytellers’

Corporate America’s latest hot job is also one of the oldest in history: storyteller.

Some companies want a media relations manager by a slightly flashier name. Others need people to produce blogs, podcasts, case studies and more types of branded content to attract customers, investors and potential recruits. All seem to use the word differently than in its usual application to novelists, playwrights and raconteurs.

“As storytellers,” a Google job ad said last month, “we play an integral role in driving customer acquisition and long-term growth.”

The listing sought a customer storytelling manager to join the company’s Google Cloud storytelling team. One article the unit published this year was titled, “Lowe’s innovation: How Vertex AI helps create interactive shopping experiences.”

Microsoft’s security organization meanwhile is recruiting a senior director overseeing narrative and storytelling, described as part cybersecurity technologist, part communicator and part marketer. Compliance technology firm Vanta this month began hiring for a head of storytelling, offering a salary of up to $274,000. Productivity app Notion recently merged its communications, social media and influencer functions into one 10-person, so-called storytelling team.

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Posted in * Culture-Watch, Anthropology, Corporations/Corporate Life, Economy, Labor/Labor Unions/Labor Market

(Economist) After the Bondi massacre, Australia faces hard questions about extremism

More than a thousand people gathered at Bondi Beach in Sydney on December 14th, the first night of Hannukah, to watch the lighting of a menorah. Children wearing face paint crowded a petting zoo. Families held balloons and bubble wands. Yet as the sun began to dip, two men dressed in black and wielding long-barrelled firearms shot into the crowd from positions just outside the beach-side park where the event was taking place. They murdered at least 15 people and injured dozens more, including two police officers.

Anthony Albanese, Australia’s prime minister, confirmed the massacre was a “targeted attack on Jewish Australians”. He labelled the attack “a terrorist incident”; that designation gives authorities additional powers to question and detain suspects. The dead include Eli Schlanger, a prominent local rabbi and the organiser of the event.

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MORE THAN a thousand people gathered at Bondi Beach in Sydney on December 14th, the first night of Hannukah, to watch the lighting of a menorah. Children wearing face paint crowded a petting zoo. Families held balloons and bubble wands. Yet as the sun began to dip, two men dressed in black and wielding long-barrelled firearms shot into the crowd from positions just outside the beach-side park where the event was taking place. They murdered at least 15 people and injured dozens more, including two police officers.

Anthony Albanese, Australia’s prime minister, confirmed the massacre was a “targeted attack on Jewish Australians”. He labelled the attack “a terrorist incident”; that designation gives authorities additional powers to question and detain suspects. The dead include Eli Schlanger, a prominent local rabbi and the organiser of the event.

The attack is one of the worst shootings in modern Australian history, even if the final toll will take some days to come clear. And but for the immense courage of bystanders, it might have been even more lethal. One video shows a man in a white T-shirt creeping up on one of the gunmen from behind a car, then wrestling the attacker’s rifle away from him. “That man is a genuine hero,” said Chris Minns, the premier of New South Wales. “I’ve got no doubt that there are many, many people alive tonight as a result of his bravery.”

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Posted in Anthropology, Australia / NZ, Death / Burial / Funerals, Ethics / Moral Theology, Judaism, Law & Legal Issues, Politics in General, Violence

(Washington Post) This one gadget could give China a back door into the U.S. power grid

As the United States leans on solar power to meet soaring energy needs, its reliance on a Chinese-made component has created a mounting security threat, according to energy industry executives and congressional investigators who warn it can be weaponized to trigger blackouts.

Research shared exclusively with The Washington Post reveals how deeply dependent U.S. power companies are on Chinese inverters. These devices are used by large solar installations to help transform energy harnessed from the sun into a current that is compatible with the power grid.

More than 85 percent of the utilities surveyed confidentially by the research group Strider Technologies are using inverter devices made by companies with ties to the Chinese government and military. Many cybersecurity experts warn that the devicesare vulnerable to hacking that can set off cascading outages.

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Posted in America/U.S.A., China, Energy, Natural Resources, Foreign Relations, Politics in General, Science & Technology

(Bloomberg) Microsoft’s Mustafa Suleyman: ‘AI Is Already Superhuman’

What uses of AI are in your life that the rest of us might not yet have?

Yesterday, I stayed up far too late watching a film and afterwards, I added to a table that I’ve made in Copilot, which basically records all the films I love, lists them by date. I add my personal notes, it gives me a link to the film poster. I can keep just saying, What would be a similar one?

It’s possible to ask your AI to do pretty much any knowledge work task — just like you might ask an assistant to organize your life. The more obscure, creative [and] challenging the task you’re going to ask your AI, the better. 1

1 Suleyman also appears to be a keen reader; the bookshelf behind him in Seattle offered a glimpse of his tastes. Titles included the most recent books by Michael Wolff and Robert Kaplan, as well as The Tech Coup: How to Save Democracy from Silicon Valleyand Gaza: An Inquest Into Its Martyrdom.

Have you used AI for autonomous tasks? Has it booked tickets or bought a gift for you? I know this is the promise of Copilot Actions — it’s just not available in my region, so I haven’t been able to try it myself.

We’re still experimenting. It can do it. It doesn’t always get it right. It’s in ‘dev mode,’ so not generally available just yet.

When it does work, it is the most magical thing you’ve ever seen. It essentially types stuff into your browser, clicks on buttons, opens up new tabs. It can look at your history, [and] personalize the purchase or the response to you.

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Posted in Corporations/Corporate Life, Economy, Science & Technology

(WSJ) Crumbling Peace Deals Show Limits of Trump’s Approach to Ending Wars

A new round of border clashes between Thailand and Cambodia and resurgent fighting in eastern Congo, two conflicts President Trump claimed to have resolved, have shown the constraints of his high-speed pursuit of peace.

Since the start of his second term, Trump has leveraged the economic and military might of the U.S. to get warring parties in several deep-rooted international conflicts to the negotiating table and extract hasty peace deals.

In June, the foreign ministers of the Democratic Republic of Congo and Rwanda signed an agreement meant to end a three-decade-long conflict, a deal Trump administration officials said would open the Congo’s mineral-rich east to potentially billions of dollars in U.S. investment.

Weeks later, Trump threatened to suspend talks on lowering high “reciprocal” tariffs for Thailand and Cambodia if the two nations continued fighting over their disputed border. The countries’ leaders, who faced 36% tariffs on all exports to the U.S., agreed to a cease-fire days later and signed a more detailed accord at a ceremony with Trump in October.

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Posted in America/U.S.A., Cambodia, Foreign Relations, Globalization, Military / Armed Forces, Office of the President, Politics in General, President Donald Trump, Thailand

(NYT) Islamic State Camps Pose a Dangerous Problem for Syria’s Leaders

The arid steppes of northeastern Syria stretch almost uninterrupted to the Iraqi border, the emptiness broken only by the occasional oil derrick, until the road comes to a sprawling prison camp.

A chain-link fence topped with barbed wire surrounds the vast compound, and supply trucks line the route for more than half a mile outside the camp’s gates. This is Al Hol detention camp, where most detainees are family members — wives, sisters, children — of fighters for the terrorist group Islamic State, or ISIS. More than 8,000 fighters themselves are in prisons nearby.

For years, ISIS ruled large parts of Syria and neighboring Iraq, brutally enforcing its strict interpretation of Islamic law. As Kurdish-led Syrian forces backed by the United States battled to reclaim that land, they detained thousands of ISIS fighters and tens of thousands of their relatives.

U.S. forces entrusted their Syrian Kurdish allies with guarding the ISIS detainees and families. But now, the Pentagon is drawing down its troops in Syria, and there are indications that U.S. officials want Syria’s new government to take responsibility for the prisons and detention camps.

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Posted in America/U.S.A., Defense, National Security, Military, Ethics / Moral Theology, Foreign Relations, Globalization, Politics in General, Syria, Terrorism

(WSJ) Say Goodbye to the Billable Hour, Thanks to AI

Is the billable hour about to become a thing of the past?

It seems inevitable, at least for lawyers and other professional-services firms, because as artificial-intelligence capabilities accelerate, the fundamental logic of charging for time spent rather than value delivered is becoming increasingly untenable.

The billable hour as the fundamental unit of business for professional services is so
widespread that it’s difficult to remember that it is a fairly recent innovation, becoming prevalent in the 1960s and 1970s. Before that, many lawyers and other professionals billed for outcomes achieved or services rendered, not for time.

Many say the seed for the billable hour was planted in the early 1900s by a young lawyer named Reginald Heber Smith, who implemented a time-tracking system for lawyers during his tenure as counsel to the Boston Legal Aid Society, which provided legal services to the poor. He wanted lawyers to track how they were spending their time, not for billing purposes but to find ways to improve the efficiency of the team, which had a limited budget….

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Posted in * Culture-Watch, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Law & Legal Issues, Science & Technology

(Telegraph)  Ambrose Evans-Pritchard–Japan’s false Thatcher is blowing up a $12tn bond market

Japan is sailing dangerously close to the wind. The most indebted state in the world is taunting markets with one of the least justifiable plans for extra debt issuance.

The fiscal irresponsibility is perhaps no worse than in America, France or Labour’s welfare Britain, but right now it is Japan that is in the sights of the bond vigilantes.

Yields on Japanese debt have spiked wildly across the maturity curve since Sanae Takaichi took power six weeks ago and shocked investors with a “low quality” fiscal expansion of $135bn (£101bn), including such gems as rice vouchers and subsidies for fossil fuels – ploys to mask the inflationary consequences of her own policies.

The scale of this populist misadventure is sending tremors through the international financial system, as well as horrifying the economic establishment in Tokyo.

The benchmark 10-year bond yield jumped to 1.94pc in intraday trading in Tokyo, up from 1.79pc a week ago and a whisker shy of highs last seen in 1997. The speed of the move in the once-glacial $12tn market for Japanese public and private debt is almost frightening.

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Posted in * Economics, Politics, Credit Markets, Economy, Foreign Relations, Globalization, Japan, Politics in General

(Church Times) Concerted pressure needed to aid Sudan, Bishop of Leeds tells House of Lords

The retiring Bishop of Leeds, the Rt Revd Nick Baines, has used his valedictory speech in the House of Lords to draw attention to the humanitarian situation in Sudan, which was, he said, “so dire that ‘urgent’ does not do justice to the need for action”.

During a debate on the topic last week, Bishop Baines, who has been one of the Lords Spiritual since 2014, described Sudan as “a country I love, where I have friends, and which I have visited a number of times”.

Its “suffering”, he said, was “almost unbearable, the worst humanitarian catastrophe on the planet. . . Whatever the causes of and motivations behind the current conflict, it is civilians — women, children, young men, and vulnerable ethnic groups — who are being targeted and abused in the most inhumane ways.”

He offered some scale of the conflict. “It is estimated that up to 150,000 people have died, and 13 million have been displaced, 9.6 million internally and 4.3 million in exile. Some 25 to 30 million people are hungry, malnourished, or severely malnourished. Save the Children estimates that 16 million children are in need of aid. . . Access to aid is frequently blocked, and funding is inadequate to the need.”

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Posted in Church of England (CoE), CoE Bishops, England / UK, Foreign Relations, Politics in General, Religion & Culture, Sudan

(Defense One) The awful arithmetic of our wars

In September, a wave of 19 Russian drones crossed into Polish airspace. The Gerbera-type drones cost as little as $10,000—so cheap that they are often used as decoys to misdirect and overwhelm Ukrainian air defenses. NATO countered with a half-billion-dollar response force of F-35s, F-16s, AWACS radar planes, and helicopters, which shot down four of the drones with $1.6-million AMRAAM missiles.

This is a bargain compared to how challenging U.S. forces have found it to defend against Houthi forces using this same cheap tech. Our naval forces have fired a reported 120 SM-2, 80 SM-6, and 20 SM-3 missiles, costing about $2.1 million, $3.9 million, and over $9.6 million each. And this is to defend against a group operating out of the 187th-largest economy in the world, able to fire mere hundreds of drones and missiles. Our supposed pacing challenge, China, has an economy that will soon be the largest in the world and a combined national industrial and military acquisition plan to be able to fire munitions by the millions.

Even in America’s best-laid plans for future battlefields, there is a harsh reality that is too often ignored. The math of current battlefields remains literally orders of magnitude beyond what our budget plans to spend, our industry plans to build, our acquisitions system is able to contract, and thus what our military will deploy.

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Posted in * Economics, Politics, America/U.S.A., Budget, Defense, National Security, Military, Economy, Foreign Relations, Military / Armed Forces, Politics in General, The U.S. Government

(Economist Leader) Enough dithering. Europe must pay to save Ukraine

Europe is breathing a sigh of relief. On December 2nd Donald Trump’s envoy, Steve Witkoff, held lengthy talks about Ukraine with Vladimir Putin in Moscow—and not much happened. Many had been expecting Team Trump to sell out Ukrainian sovereignty in return for commercial deals. The risk of such an odious stitch-up now seems to have receded a bit. Thanks to pressure from European leaders and some sensible Republicans, including the secretary of state, Marco Rubio, some of the worst elements of a 28-point plan hatched by Mr Witkoff and his Kremlin chum, Kirill Dmitriev, have quietly been dropped. Mr Putin seems unenthusiastic about the current version. Mr Trump now says the whole thing is “a mess”. Diplomacy, like the war, will grind on.

But if European governments think they are off the hook, they are wrong. First, another bad pseudo-peace plan could pop up. Second, even if it doesn’t, Ukraine will need solid military and financial support for the foreseeable future, and it will have to come from Europe. It is still not clear that Europeans grasp this.

When Mr Putin first launched his full-scale, unprovoked invasion, Europe did the right thing. The EU and others imposed stiff sanctions on Russia and gave military and financial aid to Ukraine, roughly matching the level of support from America. But that united front depended on the White House agreeing that territorial aggression should not be rewarded. Mr Trump has blown that consensus apart. Now, the $90bn-100bn it costs each year to support Ukraine’s war effort, a burden previously divided evenly, must be shouldered by Europe alone. The maths is brutal, as we analysed earlier this year. Until a durable peace arrives, Europe must keep paying what it did before—and then find an extra $50bn a year.

Russia may be advancing on the battlefield, but only slowly and at a huge cost in men and money…

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Posted in * Economics, Politics, Defense, National Security, Military, Economy, Ethics / Moral Theology, Europe, Foreign Relations, Politics in General, Russia, Ukraine

(WSJ) Trump’s Push to End the Ukraine War Is Sowing Fresh Fear About NATO’s Future

Putin knows he can’t defeat NATO in a head-on fight, especially given how badly the war in Ukraine has gone for Russian forces. His only hope is to defeat it politically by undermining its cohesiveness, which he tries to do all the time, said Ed Arnold, a former British army infantry officer who specializes in European security analysis for the RUSI think tank.

The U.S.’s latest peace plan would go a long way toward dividing NATO, by proposing what would amount to an amnesty for Russia for the invasion, allowing it to re-enter the G-8 club of rich countries and pursue joint economic development plans with the U.S. in areas like the Arctic.

“That would create huge divisions within the trans-Atlantic partnership,” Arnold said. “Politically, Russia is on the cusp of winning.”

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Posted in America/U.S.A., Defense, National Security, Military, Europe, Foreign Relations, Military / Armed Forces, Politics in General, President Donald Trump, Russia, Ukraine

(WSJ) Europe Is in a Gray Zone Between War and Peace

Europe is now caught somewhere between war and peace.

In recent weeks, drones appearing mysteriously above airports and halting flights have made headlines. Those are just the tip of the iceberg.

Germany alone has three drone incursions a day on average—over military installations, defense-industry facilities and critical infrastructure points—according to a previously unreleased tally by German authorities.

Drones are part of an intensifying barrage that European leaders suspect Russia is directing at the continent over its support for Ukraine. It includes sabotage, cyberattacks and disinformation campaigns.

“We are not at war” with Russia, German Chancellor Friedrich Merz said recently, “but we are no longer at peace either.”

For Russia and the West’s other adversaries, including China, Iran and North Korea, small-scale action can yield big payoffs. Moscow is bogged down militarily in Ukraine and so would struggle to engage members of the North Atlantic Treaty Organization in conventional combat. Instead, malicious activities that are often dubbed hybrid war or gray-zone conflict let the Kremlin challenge its adversaries without overt hostilities.

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Posted in * Economics, Politics, Defense, National Security, Military, Economy, Ethics / Moral Theology, Europe, Foreign Relations, Globalization, History, Russia

(Church Times) Bishops and charities celebrate Chancellor’s removal of the two-child benefit cap

Bishops and charities, praising the removal of the two-child benefit cap, say that it will lift hundreds of thousands of children out of poverty. The change was announced in the Autumn Budget by the Chancellor, Rachel Reeves, on Wednesday afternoon.

The former Prime Minister Gordon Brown congratulated faith leaders who had long called for the policy, which had been introduced by the Conservative Chancellor George Osborne shortly after the 2015 General Election, to be scrapped.

“From April, nearly half a million children will be lifted out of poverty, thanks to their campaign, for which I thank all religious leaders,” he told the Church Times.

The Church of England’s lead bishop for child-poverty issues, the Bishop of Leicester, the Rt Revd Martyn Snow, said that the decision would “make a profoundly positive difference to hundreds of thousands of children and their families.

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Posted in * Economics, Politics, Children, Church of England (CoE), CoE Bishops, Economy, England / UK, Ethics / Moral Theology, Marriage & Family, Politics in General, Religion & Culture

Abraham Lincoln’s 1863 Thanksgiving Proclamation

Washington, D.C.
October 3, 1863

By the President of the United States of America.

A Proclamation

The year that is drawing towards its close, has been filled with the blessings of fruitful fields and healthful skies. To these bounties, which are so constantly enjoyed that we are prone to forget the source from which they come, others have been added, which are of so extraordinary a nature, that they cannot fail to penetrate and soften even the heart which is habitually insensible to the ever watchful providence of Almighty God. In the midst of a civil war of unequalled magnitude and severity, which has sometimes seemed to foreign States to invite and to provoke their aggression, peace has been preserved with all nations, order has been maintained, the laws have been respected and obeyed, and harmony has prevailed everywhere except in the theatre of military conflict; while that theatre has been greatly contracted by the advancing armies and navies of the Union. Needful diversions of wealth and of strength from the fields of peaceful industry to the national defence, have not arrested the plough, the shuttle, or the ship; the axe had enlarged the borders of our settlements, and the mines, as well of iron and coal as of the precious metals, have yielded even more abundantly than heretofore. Population has steadily increased, notwithstanding the waste that has been made in the camp, the siege and the battle-field; and the country, rejoicing in the consciousness of augmented strength and vigor, is permitted to expect continuance of years with large increase of freedom.
No human counsel hath devised nor hath any mortal hand worked out these great things. They are the gracious gifts of the Most High God, who, while dealing with us in anger for our sins, hath nevertheless remembered mercy. It has seemed to me fit and proper that they should be solemnly, reverently and gratefully acknowledged as with one heart and voice by the whole American People. I do therefore invite my fellow citizens in every part of the United States, and also those who are at sea and those who are sojourning in foreign lands, to set apart and observe the last Thursday of November next, as a day of Thanksgiving and Praise to our beneficent Father who dwelleth in the Heavens. And I recommend to them that while offering up the ascriptions justly due to Him for such singular deliverances and blessings, they do also, with humble penitence for our national perverseness and disobedience, commend to his tender care all those who have become widows, orphans, mourners or sufferers in the lamentable civil strife in which we are unavoidably engaged, and fervently implore the interposition of the Almighty Hand to heal the wounds of the nation and to restore it as soon as may be consistent with the Divine purposes to the full enjoyment of peace, harmony, tranquillity and Union.

In testimony whereof, I have hereunto set my hand and caused the Seal of the United States to be affixed.

Done at the City of Washington, this Third day of October, in the year of our Lord one thousand eight hundred and sixty-three, and of the Independence of the United States the Eighty-eighth.

By the President: Abraham Lincoln

William H. Seward,
Secretary of State

Posted in America/U.S.A., History, Office of the President

The 1789 Thanksgiving Proclamation

[New York, 3 October 1789]

By the President of the United States of America. a Proclamation.

Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor — and whereas both Houses of Congress have by their joint Committee requested me “to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.”

Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be — That we may then all unite in rendering unto him our sincere and humble thanks — for his kind care and protection of the People of this Country previous to their becoming a Nation — for the signal and manifold mercies, and the favorable interpositions of his Providence which we experienced in the course and conclusion of the late war — for the great degree of tranquillity, union, and plenty, which we have since enjoyed — for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted — for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.

And also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions — to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually — to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed — to protect and guide all Sovereigns and Nations (especially such as have shewn kindness onto us) and to bless them with good government, peace, and concord — To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and us — and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.

Given under my hand at the City of New-York the third day of October in the year of our Lord 1789.

Go: Washington

Posted in America/U.S.A., History, Office of the President

(Church Times) Christian observers at COP30 call for renewed efforts after financial agreement blocked

The lack of progress from governments at the COP30 climate talks in Brazil has left vulnerable communities at risk, Christian observers attending the summit have warned. As the talks came to a close on Friday, they called for renewed efforts, outside the formal UN process, to accelerate the phase-out of fossil fuels.

Climate campaigners have criticised wealthy countries for failing to deliver adequate financial support to help vulnerable countries with comparatively low emissions to adapt to climate change, and to fund the energy transition away from fossil fuels.

With low levels of finance on the table, Saudi Arabia and other fossil-fuel producing countries were able to block agreement on a road map (supported by dozens of countries, including the UK) to move away from coal, oil, and gas. A plan to produce a road map was eventually proposed informally by the Brazilian COP President, André Corrêa do Lago, and will be picked up at a separate conference to be hosted next year by Colombia and the Netherlands.

Patricia Mungcal, of the National Council of Churches in the Philippines, said that a concrete plan to move away from fossil fuels would have been COP30’s “gift to humankind”. She praised the countries which had fought for its inclusion, including the Colombian delegates who had delayed the final plenary for more than two hours in protest.

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Posted in Ecology, Energy, Natural Resources, Ethics / Moral Theology, Globalization, Religion & Culture, Stewardship

([London] Times) AI could replace 40% of American jobs, says report

About half of American jobs could be replaced by artificial intelligence, according to a report by the McKinsey Global Institute.

The American consultancy’s analysis found that robots and AI agents could automate more than half of US work hours, both mental and cognitive, using technology that is available today, if companies redesigned how they did things.

Most of the roles at risk — about 40 per cent — involve the kinds of drafting, processing information and routine reasoning that AI agents can do. Hiring is slowing in some such jobs, such as among paralegals, administrative and office support workers and programmers, the research found.

Similarly, dangerous, physical jobs, in warehouses or operating machines, are most likely to be replaced by robots, McKinsey said.

Conversely, a third of US jobs would be difficult to replace with AI because they have uniquely human attributes, such as nursing, the analysis found. Some 70 per cent of the tasks performed by carers and other healthcare workers require the kind of physical presence, empathy, care and dexterity that machines cannot replicate.

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Posted in Economy, Labor/Labor Unions/Labor Market, Science & Technology

(C of E) Government urged to keep VAT grants for repairs, amid survey showing millions in touch with their local churches

The Chancellor has been urged to retain a tax scheme for listed places of worship, as a survey was published today showing the majority of the UK population backs Government support to help churches pay for repairs to their buildings.

A poll shows that two in five people, or 43 per cent of all adults, report having had contact with their local church, the majority of these, or 53 per cent, for services and worship but also 23 per cent – nearly seven million people in the UK – for community support such as parent toddler groups, lunch clubs and food banks. An estimated 2.8 million people – or 4 per cent of the UK population – have been in contact with their local church for a food bank. Church of England churches run or support 31,300 social action projects, including nearly 8,000 food banks, with emergency food provision and community cafés on the rise.

More than three quarters of the population – 77 per cent – said historic cathedrals and churches are local and national treasures. And two in five – 41% – said they had visited a church or cathedral simply to find a quiet space for reflection or prayer, with this figure rising to 50 per cent amongst young adults in the 18 to 34 age range.

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Posted in Church of England, England / UK, Ethics / Moral Theology, Housing/Real Estate Market, Parish Ministry, Politics in General, Stewardship

(BI) Michael Dutta-The US economy’s 7 deadly signs

When describing the health of the US economy, there is a temptation among economists, market analysts, and politicians to argue that the only true picture of our current situation is a sweeping portrait — only by looking at the broadest of aggregate statistics can you determine the state of play, they argue. But the wide view can ignore important developments unfolding under the surface. Sometimes, even the healthiest-looking person might have high cholesterol.

Right now, the economy seems OK on the surface. GDP growth has been running north of 3% for the last two quarters. In the labor market, the boilerplate appears to be that conditions are gradually cooling, but nothing more, nothing less. For example, despite the slowdown in new hiring, the unemployment rate of 4.4% is still low by historical standards. But there are serious dangers lurking beneath the surface of our economy, and it is better to clearly identify them than to ignore them in favor of broad aggregate measures.

Major employers in industries like homebuilding and restaurants are looking shaky, and they offer ominous signs about the direction of the overall economy. By getting a sense of what sectors and industries are struggling, you can get a forward-looking sense of the economy’s trajectory and a clearer-eyed view of the possibility of recession.

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Posted in * Culture-Watch, * Economics, Politics, America/U.S.A., Consumer/consumer spending, Corporations/Corporate Life, Economy, Labor/Labor Unions/Labor Market

(WSJ front page) The Middle Class Is Buckling Under Financial Strain From Inflation

America’s middle class is weary.

After nearly five years of high prices, many middle-class earners thought life would be more affordable by now. Costs for goods and services are 25% above where they were in 2020. Even though the inflation rate is below its recent 2022 high, certain essentials like coffee, ground beef and car repairs are up markedly this year.

“Life felt more doable a year and a half ago,” said Holly Frew, a college communications director with a household income around $135,000 living in Atlanta. “I need to know where the light is at the end of the tunnel.”

The American middle class encompasses a broad cross section of workers that includes white-collar office employees, nurses and plumbers, although there is no universally accepted definition.

Pew Research Center defines the middle class broadly as having a household income between about $66,666 and $200,000, depending on where they live. Perpetual sticker shock is making many within the group feel worse about both their own finances and the future of the country. They are hunting for bargains and spending more carefully.

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Posted in * Economics, Politics, Consumer/consumer spending, Economy, Personal Finance

(Bloomberg) The Risks Lurking in Wall Street’s Insurance Takeover

No one worries about the insurance industry quite like Tom Gober.

From his home office outside of Pittsburgh, the forensic accountant has been tracking, documenting and highlighting the weaknesses of the $9.3 trillion sector responsible for the financial well-being of millions of Americans.

“I’ve been seeing warning signs for years, and I’ve been very vocal about it,” Gober, 66, said in a recent interview in his living room. More recently, he’s been paying attention to what he says is the most troubling development yet: The influx of private equity’s billions.

The industry waves off its critics as needlessly alarmist, always predicting a disaster that never comes. But that mid-October afternoon, Gober’s phone began to light up. Josh Wander, the co-founder of 777 Partners, a private equity firm on Gober’s radar, had been charged with cheating investors and lenders out of almost $500 million — an alleged fraud enabled in part by its opaque and intricate ties with some US insurance companies.

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Posted in * Economics, Politics, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Housing/Real Estate Market, Psychology, Stock Market, Uncategorized

(Economist) America’s huge mortgage market is slowly dying

 America’s huge mortgage market is slowly dying. In America’s foundation myths, the humble mortgage rarely features. There are no stirring ballads about the heroism of 30-year rates or credit-scoring. Yet mortgages have fueled the American dream, which centers on home ownership, ever since the federal government began subsidizing property loans a century ago. Now that fuel is running low. At $13.5 trillion, America’s current stock of mortgage debt is equivalent to 44% of the country’s GDP. That marks a drop of almost 30 percentage points since the global financial crisis of 2007-09, which was sparked by a binge on dicey housing debt, and the lowest level since 1999, before that property bubble got started. More striking still, mortgage debt has shrunk to just 27% of the value of American household property—a 65-year low. A great de-mortgaging is under way, with worrying consequences for the property market.

With Wall Street fretting about other corners of American finance, such as booming private lending to shaky mid-size firms, the tranquility of the mortgage market might seem like a sign of healthy restraint. In fact, it masks an insidious crisis. The median monthly principal-and-interest payment on an American home has surged from just above $1,000 to $2,100 in five years.

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Posted in * Economics, Politics, America/U.S.A., Economy, Housing/Real Estate Market, Personal Finance & Investing

(Washington Post) China has lent $200B to U.S. tech and infrastructure projects, report finds

Chinese financial institutions have lent more than $200 billion to the United States over the past 25 years — more than they have advanced to any other country — as part of a vast global spending spree to take control of Western companies working on sensitive technologies, according to new research released Tuesday.

China discloses very little about the operations of its state-owned banks and asset managers.

But AidData, a research lab at William & Mary University in Williamsburg, Virginia, reported what it called an “unexpected and counterintuitive” finding: Between 2000 and 2023, Chinese financial institutions backed 2,500 projects — including gas pipelines and airport terminals — in almost every U.S. state.

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Posted in * Economics, Politics, America/U.S.A., China, Economy, Foreign Relations, Science & Technology, The Banking System/Sector

(NYT) Trump treasury Secretary Scott Bessent Raises Recession Fears, and Points Fingers at the Fed

The Trump administration is wielding the possibility that parts of the economy are in a recession as it raises pressure on the Federal Reserve to cut interest rates, hoping to ensure that the central bank will bear the blame for any economic weakness.

Treasury Secretary Scott Bessent and Stephen Miran, President Trump’s appointee to the Fed’s Board of Governors who is on a temporary leave from his job leading the White House’s Council of Economic Advisers, this week struck a downbeat tone about the health of the world’s largest economy. Mr. Bessent went so far as to say some sectors were already contracting. He did not specify which sectors, but high mortgage rates have put housing and adjacent industries such as construction under pressure.

“I think that there are sectors of the economy that are in recession,” Mr. Bessent said on CNN on Sunday. He described the economy as being in a “period of transition” because of a pullback in government spending to reduce the deficit. He called on the Fed to support the economy by cutting interest rates.

Mr. Bessent’s remarks added to pressure on the Fed and deflected blame from Mr. Trump in case the economy does ultimately face a downturn, reinforcing a strategy that has been in place since the start of the year. As the administration has imposed aggressive tariffs on nearly all of America’s trading partners and slashed federal spending, potentially slowing growth, it has sought to pin blame squarely on the Fed in the event of an economic downturn.

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Posted in * Economics, Politics, Economy, Federal Reserve, President Donald Trump, The U.S. Government, Treasury Secretary Timothy Geithner

(WSJ) Trump’s Tough Day at Supreme Court Puts Tariffs in Jeopardy

President Trump’s global tariffs ran headlong into a skeptical Supreme Court on Wednesday, with justices across the spectrum expressing doubt that a 1970s emergency-powers law could be read to provide the president unilateral authority to remake the international economy and collect billions of dollars in import taxes without explicit congressional approval.

But even if the court strikes down the tariffs Trump initiated on his self-declared Liberation Day last April, the justices gave little indication how they might unwind the president’s signature economic policy and favorite diplomatic tool. That left unclear whether previously paid duties would be refunded or whether Congress could be invited to step in, perhaps by ratifying the levies retroactively.

“It seems to me like it could be a mess,” Justice Amy Coney Barrett said during the later stages of an oral argument that ran nearly three hours.

Solicitor General John Sauer took heat from all sides as he pressed the administration’s argument: that the president’s power to regulate foreign financial transactions when he declares an emergency includes the authority to impose tariffs. Tariffs were taxes, a majority of justices agreed, and many were dubious that Congress would so casually surrender to the executive its core constitutional power to raise revenue.

“The Constitution is structured so that if I’m going to be asked to pay for something as a citizen, that it’s through a bill that is generated through Congress,” said Justice Sonia Sotomayor. “But I’m not going to be taxed unless both houses” of Congress and the president “have made that choice.”

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Posted in * Economics, Politics, Economy, Ethics / Moral Theology, Foreign Relations, House of Representatives, Law & Legal Issues, Office of the President, Politics in General, President Donald Trump, Senate, Supreme Court, Taxes

(FT Alphaville) How much energy are all these AI datacenters going to use when they are actually up and running?

The financing package stitched together for Meta’s humongous Hyperion data center campus in Louisiana made Alphaville curious about just how much energy the new AI infrastructure will consume if it all comes online.

After all, massive new projects are being announced almost every week, in what even KKR’s digital infrastructure lead called a “bragawatts” phenomenon in MainFT on Monday.

The latest example is OpenAI on Thursday revealing plans for a 1+ gigawatt data centre hub in Michigan. Together with previously announced “Stargate” projects this brings the total to over 8 gigawatts — close to the 10 target it floated earlier this year. This will cost over $450 billion over the next three years, according to the company that spends more on marketing and employee stock options than it makes in revenue.

So how many data center projects have now been started or announced? Which ones will actually happen and which ones are fantasy? As Barclays noted last week, tracking “what is real vs. speculative is a full-time job”, but the bank has forced some poor sell-side plebs to at least tally all the announcements and collect some rudimentary details.

So what is the total so far? With OpenAI’s Michigan project they now total 46 gigawatts of computing power. Apologies for the virtual shouting, but this seems a bit mad.

These centers will cost $2.5 trillion to build, according to Barclays, to service an industry that still doesn’t turn a profit. But the maddest bit arguably is how much energy they will require once completed. Using Barclays’ 1.2 “Power Use Effectiveness” ratio, all these data centres — if they are all completed — would need 55.2 gigawatts of electricity to function at full capacity.

If we also use Barclays’ rule of thumb that 1 gigawatt can power over 800,000 American homes, it means that these data centres will consume as much energy as 44.2 million households — almost three times California’s entire housing stock.

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Posted in * Economics, Politics, Corporations/Corporate Life, Economy, Energy, Natural Resources, Science & Technology

(Critic) Fleur Elizabeth Meston–Assisted suicide is a national tragedy in the making

Week two of the assisted suicide Bill Select Committee in the House of Lords showed that when Parliament hears from those most at risk, the Bill’s argument collapses. Disability rights campaigners, human rights experts, and mental health specialists gathered to reveal the dangers, shattering the illusion of effective safeguards.

The week began with evidence from leading palliative clinicians, care providers, and a representative from Age UK. Dr Sam Ahmedzai, a pro-assisted suicide doctor, acknowledged that “there will be mistakes and casualties” if the Bill passes. Even he, an assisted suicide fan, could not hide the reality. People would die who should not.

Baroness Hayter, a stalwart of the pro-camp, unwittingly admitted that it is very hard to safely legislate for introducing assisted suicide. Pro-assisted suicide Justice Minister Sarah Sackman floundered, offering evasions and vague complaints about the current law’s “conundrums” and “real difficulties” but few answers. Sackman’s silent sidekick, Paul Candler, spoke for less than 30 seconds during the 75-minute session.

A senior representative from Mind outlined threats to suicide prevention efforts. Dr Sarah Hughes said that Mind simply cannot support the Bill in its current form. Jurisdictions that have legalised assisted suicide have seen the law expand quickly, she said, and assessments by video call are utterly insufficient. Cherryl Henry-Leach, Chief Executive at Standing Together Against Domestic Abuse, summarised this well by stating, “It will be very difficult to deliver assisted dying safely”.

Paralympic legend and member of the House of Lords Tanni Grey-Thompson delivered one of the committee’s most emotional interventions. She branded the Bill “a danger to disabled people,” explaining through obvious emotion how parents fear how their adult children with Down’s syndrome will be treated if they outlive them. Baroness Grey-Thompson dismantled the Bill’s six-month prognosis safeguard, calling it “arbitrary” and a “best guess,” and warned it would not protect disabled people at all. She told her fellow parliamentarians that no disability organisation supports the Bill.

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Posted in * Culture-Watch, Aging / the Elderly, Death / Burial / Funerals, England / UK, Ethics / Moral Theology, Health & Medicine, Life Ethics, Parish Ministry, Politics in General

(Local Paper) In South Carolina, evictions are the ‘scarlet E’ that never go away

Valerie Ferebee rummaged through the front seat of her car searching for a pack of cigarettes as she sat outside Tanger Outlets. Everything she and her husband Milton own is in their Ford EcoSport, so it took her a few minutes to find them.

The four-door crossover has been their home for more than a year.

Once she found the Newport Menthol Greens in a side pocket, she pulled one out to light. She took a drag and considered their living situation.

“Disgusting. Degrading. Shameful. Humiliating,” she said. “I mean, I don’t know what word to use … I feel sort of stuck.”

Valerie and Milton are just two of thousands who have been evicted in the Charleston area. North Charleston once had the highest eviction rate in the country in 2016 with more than 3,600 tenants being evicted, according to data from Princeton University’s Eviction Lab.

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Posted in * Economics, Politics, * South Carolina, Economy, Housing/Real Estate Market, Personal Finance

(C of E) New infra-red heating system helps a village church in the diocese of Ely with a missional heart to provide a warm welcome

The church is medieval (the earliest parts are 900 years old) but is not a place that rests on its historic laurels. It wants to welcome people and “express the love of God”.  

According to Roger Goodden, who is in charge of the fabric of the church, St Andrew’s  “is simply wishing to link with and be a friend to the rest of the community and to spread the gospel.”  

Oakington is a village in South Cambridgeshire, with a population of just 1,400 and St Andrew’s aims to share the presence of God with the rural community. As part of this call, the church hosts a summer garden party, a harvest and other concerts organised by the community, and performances from visiting choirs. 

If you’re going to do these things, you need a good heating system, not just a missional heart. “The better the facilities, the more welcoming we are as a church”, says Roger.  

Formerly, the church was heated by electric panels on the back of the pews. These dated back to the 1990s and had become notoriously unreliable.  

“The whole system was subject to breakdowns,” says Roger, “and whole sections of pews could lose their heating….” 

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Posted in Church of England, Ecology, Energy, Natural Resources, England / UK, Parish Ministry, Religion & Culture