Was proud that Congress did this to honor Emmitt Till and Mamie Till-Mobley, graduate of Argo High School (Summit IL). A brief story: chicago.suntimes.com/2022/12/21/235…
1/ In March 2020, I had the honor of travelling to Selma AL to walk across the Edmund Pettus Bridge with John Lewis. John would die just a few months later and we had a huge group of civil rights icons who came to honor him "one more time".
2/ At breakfast one morning with Charles Neblett (an amazing man, and one of the "Freedom Singers") I asked him what gave Rosa Parks, MLK and people like John the courage to stand up and lead when so others were killed for doing the same. storytellingcenter.net/tellers/charle…
3/ Charles said that in his experience, once you have a movement you need leaders, "but movements always come first". And that it was Emmett Till who started the movement that made leadership necessary.
4/ That's stuck with me. As a guy who got elected in 2018 in no small part thanks to the movement created by the Women's March, the March for Science, the March for our Lives. Movements that ultimately created leaders... but movements that came first.
5/ We can never know what the thing will be that will trigger a movement. And too often, movements are created by tragedy. Parkland Shootings, George Floyd, the 2016 election, Emmett Till. We would never root for those things, but can admire the movements they inspired.
6/ But - per Neblett - the Civil Rights era owes a debt not only to Emmett Till, but to Mamie Till for creating the catalyst that turned that tragedy into something peaceful, beautiful and - in the best sense of the word - progressive.
7/ I'm proud to say that the new #IL06 will include Argo High School, and look forward to seeing the unveiling of the memorial they are putting up in Mamie Till's honor in a few months. cbsnews.com/chicago/news/a…
8/ Until then, let's all show some gratitude to those who made our nation's great movements possible. The leaders of those movements told the stories, drove them forward and in some cases gave their lives doing so. But don't forget those who made that leadership necessary. /fin
• • •
Missing some Tweet in this thread? You can try to
force a refresh
OK, I know you've all been waiting for it: here are the best books I read this year. Recommend all of them. Loosely organized, with links:
1/ First, the classics. Beautifully written books that are about America and give you a better, more uplifting, more complete view of our country with all it's blessings and complexities. Read these this year, then re-read them, and re-read them again.
1a) Thomas Paine's collected writings. Especially Common Sense and The Rights of Man. He understands America's promise and foundation as well as anyone ever has. penguinrandomhouse.com/books/287697/c…
This is a remarkably encouraging report from @IEA about the exponential growth in clean energy and decarbonization. We can't afford to slow down - but we have a path to turn the corner as long as we don't take our foot off the gas. iea.org/reports/renewa…
"Solar PV’s installed power capacity is poised to surpass that of coal by 2027"
"global renewable capacity can expand by an ADDITIONAL 25% compared with the main forecast if countries address policy, regulatory, permitting and financing challenges"
I didn't intend to spend my weekend tweeting about money but given some of the responses to this thread I need to do another one about currency. And why crypto isn't. (Another) thread:
1/ Let's start simple. Currency is a store of value. It is not value itself. A unit of labor, a plate of spaghetti, a chip manufacturing plant... those things all have value. Currency just helps us quantify what that value is. But it's "just paper".
2/ And that is really good. Because if the unit of value also has value then every transaction is a negotiation about exchange rates. It's why barter economies don't work.
I've started and stopped writing this thread for a while, but I think it's overdue. Why crypto's rise and fall is the oldest, most predictable story in financial markets. And how to (hopefully?) avoid getting confused by the buzzwords. Here goes:
1/ First, a definition. I'm using crypto here to refer to something that (a) purports to be a currency; (b) is 100% digital and (c) is not backed by the full faith and credit of a government.
2/ I'm NOT referring to all digital currency. Because anyone who's paid their bills for the last couple weeks in USD without opening their wallet is already using a digital currency. Crypto is just a subset of that larger category.
So I want to talk about something that's been bugging me, with the warning that this could turn into too long a thread. On ESG investing and the @GOP's war on capitalism. On markets, human rationality and the danger of anti-market Republican rhetoric:
1/ First, the principles of free-market capitalism does not assume that all actors are rational. It simply observes that in aggregate, markets are good ways to optimally allocate scarce capital in response to infinite demand.
2/ But "demand" is a subjective thing. Outside of commodities, price alone is not determinative. I'll buy crude oil based on whoever has the lowest price per barrel. But I don't make a choice between Grey Poupon, Guldens & French's based on the lowest $/mustard oz.
If insanity is doing the same thing over and over again and expecting different results... then we really need to talk to Texas about their commitment to remaining substantially isolated from the rest of the US electric grid. texastribune.org/2022/11/18/tex…
Grid managers regularly require operators to maintain backup and reserve requirements. Which works fine until the overall system is at capacity. The solution at that point is better inter-regional coordination as @FERC is calling for. ferc.gov/news-events/ev…