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Culture War Roundup for the week of October 16, 2023

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As of now, Polymarket implicitly thinks either the deadlock will go on longer than 8 months, or that we'll have a candidate coming completely out of left field (i.e. one that's not currently listed). The total potential profit from buying a no share for all options, assuming none come true, is just 38 cents. Granted, Polymarket is a fairly thinly traded platform, but it's still real money people are betting with so that gives it a good deal of legitimacy in my eyes.

Current frontrunners are, as of 10/20/23:

  • Current temp speaker Patrick McHenry at 10%
  • Steve Scalise at 7%
  • Kevin McCarthy back from the dead at 6.5%
  • Tom Emmer at 5.5%
  • Jim Jordan at 5%
  • Hakeem Jeffries at 2%
  • Donald Trump at 1.5%

So there's around a 60% probability that the eventual winner isn't in that list, or that the deadlock lasts longer than the market resolution date of June 30, 2024.

Modern US federal politics is notorious for its gridlock, but this is taking it to a new level.

Modern US federal politics is notorious for its gridlock, but this is taking it to a new level.

I must confess that I'm kind of enjoying it.

You shouldn't. Stasis is ignorable for now, but it has huge costs across society that we'll have to pay one way or the other, either through direct payments for debt or future wars, or indirectly from stifled development.

The government not doing things is not the same as nothing getting done.

There's some parts of the US that are doing well, like computers and renewables, but a lot of other places have devolved to an ossified gerontocracy. And a broken government, really, really doesn't help.

Disagree on that one. That the Academic/Managerial class has devolved into an ossified gerontocracy, is exactly why a broken government is a good thing.

The less opportunity or ability they have to interfere with the people actually producing things the better.

Don't underestimate the ability of a broken government to get in the way though. The government offices being empty doesn't mean buildings get built without approval, it merely means that nothing can be approved at all, so nothing will be built. The enforcement wing is sadly usually the last to break, so it can continue preventing action long after it has lost the capability to allow it.

The enforcement wing is sadly usually the last to break, so it can continue preventing action long after it has lost the capability to allow it.

We're talking about the feds here. The vast majority of things don't need federal approval. The state governments can approve things.

Fair. I guess my impression is that state governments are nearly just as broken, or at least we'll on the way. Plus, the things that do require federal approval are rather important.

I mean there's: nearly all large scale farming and mining, most (all?) energy production, pharmaceuticals (both new production of old drugs and new drugs,) and many imports, just off the top of my head.

It's not like all that will stop with a broken government, but the anarchotyrranic effects will only get stronger.

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