Plutocracy III: Class War (Video)

Plutocracy III: Class War

The early struggles of the working class are placed under a microscope in Plutocracy III: Class War, the latest chapter in an exceptionally well produced series which explores the origins of America's growing economic divide.

Without a doubt, the clashes between worker rights and corporate interests are prominent in today's political and economic landscape, but they're not a modern phenomenon by any means. These imbalances, and the wealth inequalities that have resulted in their wake, have existed for generations. The filmmakers provide a searing portrait of the brave workers who fought for true democracy in the early decades of the 20th century.

The film begins with the titan of the labor movement during that period - Mary Harris "Mother" Jones. A galvanizing presence who spent her life inspiring a working class revolution, Jones rallied a coalition of miners from Ludlow, Colorado in 1914. These miners worked under heinous conditions and for little pay in a coal operation owned by John D. Rockefeller, Jr. Their determination knew no bounds; when the company cast the striking miners and their families out of their homes, they defiantly set up a colony of tents and continued their fight for fairness.

Their stand-off ended in tragedy. The National Guard was deployed and unleashed gun fire into the colony, senselessly massacring men, women and children. This appalling event sparked outrage and public protest across the United States.

The bulk of the film examines the impact of World War I on the labor movement, a conflict that saw the slaughter and disfigurement of a generation. The war provided further evidence of the class divide, and would propel labor advocacy efforts among all genders and races.

All of this culminated in the rise of the Socialist Party and the radical International Workers of the World organization, as well as the events of 1919, a year that saw 22.5% of the work force in strike mode.

Plutocracy III: Class War offers invaluable historical insights from a panel of historians and labor advocates. Their deeply human narrative is assisted by a briskly edited barrage of stock footage, archive materials, and other provocative imagery.

Directed by: Scott Noble

Astronomers have detected 'strange signals' coming from a star 11 light-years away

• Dave Mosher
 
•    

• 2h
• 51,180

The Arecibo Radio Telescope began collecting data for SETI in 1999.Uploaded to Wikipedia by File Upload Bot (Magnus Manske)

Astronomers say they've detected "strange signals" coming from the direction of a small, dim star located about 11 light-years from Earth.

Researchers picked up the mysterious signals on May 12 using the Arecibo Observatory, a huge radio telescope built inside of a Puerto Rican sinkhole.

The radio signals appear to be coming from Ross 128, a red dwarf star that's not yet known to have any planets and is about 2,800 times dimmer than the sun. Abel Méndez, an astrobiologist at the University of Puerto Rico at Arecibo, said the star was observed for 10 minutes, during which time the signal was picked up and observed to be "almost periodic".

Méndez said it's extremely unlikely that intelligent extraterrestrial life is responsible, but noted that the possibility can't yet be ruled out.

"The SETI [Search for Extraterrestrial Intelligence] groups are aware of the signals," Méndez wrote in an email to Business Insider.

Explanations for the 'very peculiar' signals

While Arecibo is known for its role in efforts to search for signals from aliens, it's also great for looking at distant galaxies and pinging near-Earth asteroids.

Méndez thinks the signal is more likely from something humans put in space, perhaps a satellite that passed thousands of miles overhead.

"The field of view of [Arecibo] is wide enough, so there is the possibility that the signals were caused not by the star but another object in the line of sight," Méndez said, adding that "some communication satellites transmit in the frequencies we observed." 

However, in a July 12 blog post about the mystery of Ross 128, he wrote that "we have never seen satellites emit bursts like that" and called the signals "very peculiar".

NASA's Goddard Space Flight Center/S. Wiessinger

Another possible explanation is a stellar flare, or outburst of energy from the star's surface. Such bursts from the sun travel at light-speed, emit powerful radio signals, and can disrupt satellites and communications on Earth, as well as endanger astronauts.

Solar flares can also be chased by a slower-moving yet more energetic coronal mass ejections: a flood of solar particles that can distort our planet's magnetic field, generate geomagnetic storms, and cripple power grids and fry electronics.

Taking another look at Ross 128

To see if the signals are still there, Méndez said Arecibo is going to stare down Ross 128 and its surroundings many more times, starting July 16.

"Success will be to find the signal again" at the star's location but not in surrounding directions, he said. "If we don't get the signal again then the mystery deepens."

An aerial view of FAST in southwest China. Liu Xu / Xinhua via AP

Méndez wrote in his blog post that other radio telescopes might not be sensitive enough to pick up the signals, noting one exception: China's monstrous Five-hundred-meter Aperture Spherical radio Telescope, or FAST.

But FAST isn't operational right now, since it's being calibrated, and Méndez said he doesn't know when it will be back online.

Seth Shostak, a senior astronomer at the SETI Institute, confirmed that the group is "well aware of the signals" and might use its powerful Allen Telescope Array in California "to check them out."

"The chances are high that they're terrestrial interference, in fact. That's really always been the case," Shostak told Business Insider in an email.

Right now there's really only one compelling signal from outer space that might come from aliens: "[T]he WOW signal," Shostak said. "That one is still quite odd."

SEE ALSO: Dim red stars that are nothing like the sun may be our best hope of finding aliens

DON'T MISS: That 'interesting' and possibly alien radio signal probably came from Earth

NOW WATCH: Stephen Hawking warned us about contacting aliens, but this astronomer says it's 'too late'

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More: Space Arecibo Observatory SETI Radio 

John McCain's recovery could take longer than we think

• Mark Abadi
 

• 15h
• 16,868
 

John McCain. Jonathan Ernst/Reuters

John McCain's recovery could take longer than initially expected, medical experts told The New York Times on Sunday, two days after the Arizona senator underwent surgery to remove a blood clot from above his left eye.

McCain's office suggested in a statement last week that the senator would be out for a week recovering in Arizona. But two neurosurgeons told The Times that the typical recovery time for such a procedure was "a few weeks" or more.

That's bad news for Senate Republicans, who are delaying a vote on their healthcare bill until McCain returns to Washington. Two Republican senators, Susan Collins of Maine and Rand Paul of Kentucky, have already said they will not vote to proceed on the measure, meaning that Republicans need McCain to have a chance at reaching the necessary 50-vote threshold.

Senate Majority Leader Mitch McConnell had hoped to hold a procedural vote on the bill, the Better Care Reconciliation Act, next week.

"While John is recovering, the Senate will continue our work on legislative items and nominations, and will defer consideration of the Better Care Act," McConnell said in a statement on Saturday.

McCain's office has not disclosed any further information about the surgery since it was announced, and surgeons at the hospital are not granting interviews, leading to speculation over how doctors discovered the blood clot. According to one of the neurosurgeons interviewed by The Times, the type of blood clot McCain had is usually discovered when the patient has symptoms and not as the result of a routine physical as McCain's office said.

SEE ALSO: 'Another shoe just dropped': John McCain says more bombshells on Trump and Russia are coming

DON'T MISS: People were left utterly confused by Sen. John McCain's bizarre questioning of James Comey

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More: John McCain Blood Clot Healthcare Better Care Reconciliation Act 

Ethereum's share of the cryptocurrency market has exploded

• Frank Chaparro
 

• 18h
• 10,961

Autonomous

Ethereum is gobbling up share in the cryptocurrency market. 

A new report by Autonomous NEXT, a financial technology analytics service, shows that Ethereum's percentage of the total cryptocurrency market has sharply risen since the beginning of the year.

In January it stood at approximately 5%. As of June 22, its marketcap as a percentage of the entire market rose to 30%.

Ethereum's impressive rise has led to a dramatic fall in bitcoin's marketcap as a percentage of the market. It has declined from about 85% at the beginning of the year to just under 40% as of late June.  Up until mid June, Ethereum was on track to surpass bitcoin as the world's largest cryptocurrency by market cap, according to Coindesk, but its share of the market has since pulled back. 

Still, the shift from bitcoin to Ethereum reflects a change in what the cryptocurrency industry wants from blockchain tech, according to the report.

"Early phase of cryptocurrency market development focused on who will be the “digital gold” – and Bitcoin won through the largest developer and adoption ecosystem," the report said. "However, current battle is for other functionalities, such as global decentralized computing or smart contracts infrastructure."

Ethereum, unlike bitcoin, wasn't built to simply function as a "digital gold." According to Paul McNeal, a bitcoin evangelist, the Ethereum blockchain was built as a platform on which two parties could enter into a so-called smart contract without a third party. As a result, it can be used as a currency and it can "represent virtual shares, assets, proof of membership, and more." 

The multifaceted functionality of Ethereum has many folks in financial services bullish on its future. Mike McGovern, the new head of Investor Services Fintech Offerings at Brown Brothers Harriman & Co, is one such person. 

"Ethereum is not only cheaper than bitcoin, it is also more robust and has more applications outside of simply financial transactions," he said in a recent interview with Business Insider. 

A  survey recently cited by Nathaniel Popper in The New York Times indicates that a lot of businesses are singing a similar tune. Almost 94% of surveyed firms said they feel positive about the state of ether tokens. Only 49% of firms surveyed had a positive feeling about bitcoin. 

Get the latest Bitcoin price here.

SEE ALSO: BITCOIN MINER: The rise of Ethereum could help some bitcoin miners

The revised Senate healthcare bill is already on the verge of imploding

• Bob Bryan
 

• 21h
• 14,277
 

Senate Majority Leader McConnell. Thomson Reuters

Skeptical Republican senators bristled at the newly updated version of the Senate healthcare bill released Thursday morning, putting its future in doubt.

Almost immediately, two Republican senators came out against a procedural vote that would get the bill to the floor, meaning Senate Majority Leader Mitch McConnell and GOP leaders cannot afford to lose another vote.

A third GOP defection would prevent the bill from even being considered by the broader Senate and would most likely require the Better Care Reconciliation Act to be substantially overhauled — or scrapped.

Here's a rundown of the senators to watch in the debate and their current status on the vote:

• Susan Collins (NO): Collins tweeted soon after the release of the updated BCRA that she would not support a motion to proceed: "Still deep cuts to Medicaid in Senate bill. Will vote no on MTP. Ready to work w/ GOP & Dem colleagues to fix flaws in ACA."
• Rand Paul (NO): A longtime critic of the bill, Paul said soon after the update came out that he would not vote for the motion to proceed.
• Rob Portman (UNDECIDED): Portman's office confirmed he was reviewing the bill and would wait for a score from the Congressional Budget Office. His chief concern is deep cuts to Medicaid funding proposed in the bill.
• Lisa Murkowski (UNCLEAR): Despite a substantial funding proposal for Alaska in the newest version of the BCRA, Murkowski remains on the fence. The senator has taken issue with the BCRA's cuts to Medicaid and the freeze of funding to Planned Parenthood. Murkowski was seen meeting with McConnell and Sens. Dean Heller and Shelley Moore Capito after the bill's release.
• Dean Heller (UNCLEAR): Heller, who is up for reelection in 2018 in Nevada, a state Hillary Clinton won, has concerns about the Medicaid cuts.
• Shelley Moore Capito (UNCLEAR): Capito has expressed similar concerns about potentially slashed Medicaid funding.
• Mike Lee (UNDECIDED): Lee supported an amendment from Sen. Ted Cruz that would allow insurers to sell plans that did not comply with the Affordable Care Act's regulations. The modified version included in the newest BCRA version did not immediately get Lee on board. "Just FYI — The Cruz-Lee Amendment has not been added to BCRA. Something based on it has, but I have not seen it or agreed to it," Lee tweeted. "I am withholding judgment and look forward to reading it."

SEE ALSO: Republicans just released a new healthcare bill — here are all the changes

NOW WATCH: Listen to the leaked audio of Australia's prime minister mocking Trump

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More: Better Care Reconciliation Act Obamacare Obamacare Repeal

A $4.4 trillion investing giant that's changing money management just named a new CEO

• Graham Rapier
 

• 19h
• 3,456

F. William McNabb is stepping down as CEO of Vanguard.Tim Shaffer/Reuters

F. William McNabb will be stepping down as CEO of Vanguard Group.

He will be replaced in January by Vanguard’s current CIO Mortimer J. “Tim” Buckley and transition to chairman next year before also passing that role to Buckley.

McNabb, who joined the company in 1986, became CEO in 2008.

Under his leadership, Vanguard’s assets under management have exploded from $1.25 trillion almost threefold to $4.4 trillion. Last year, investors poured $277 billion into Vanguard funds — 54% of all new money put into equity funds. Vanguard is now the second largest American money manager behind BlackRock.

 “As the firm continues to grow, evolve and expand globally, it is the right time for a new leader and the Board is unanimous in its belief that Tim Buckley is the ideal next chief executive for Vanguard," McNabb said in a statement. "I have worked alongside Tim for many years and he brings a strong passion for serving Vanguard clients and crew, a global mindset, and significant leadership experience in all facets of our operations.”

Buckley, who is currently chief investment officer, joined the firm in 1991 as an assistant to John Bogle, the legendary investor who was chairman at the time. Bogle founded Vanguard in 1974, creating the first index fund and allowing investors to passively invest in the stock market by tracking a market index.

Index investing has been revolutionary for Main Street investors, allowing them to bypass high-fee investment managers, many of which have not performed well. The firms that specialize in index investing have become giants of the industry, meanwhile.

NOW WATCH: Barclays strategist: You can expect a major department store to fail in the next 18 months

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More: Vanguard Money Management Asset Management Private Equity

Singapore's economy has been growing much more slowly than people thought

• David Scutt, Business Insider Australia

• 14h
• 1,156

FILE PHOTO: GuocoLand Ltd's mixed-use Tanjong Pagar Centre, soon to be the tallest building in the city-state, towers over other buildings in the central business district of Singapore Thomson Reuters

Singapore’s economy continued to splutter in the June quarter, growing at a far slower pace than expected.

According to advanced estimates offered by the Singaporean government, the economy grew 0.4% in seasonally adjusted annualised terms, missing forecasts for an expansion of 1.1%.

Despite the large miss it was still a significant improvement on the 1.9% contraction reported in the March quarter, and ensured that the economy avoided falling into recession.

From a year earlier, GDP expanded by 2.5%, unchanged from the previous quarter but below the 2.8% rate expected.

The government said that manufacturing expanded 8% over the 12 months, while services grew by a smaller 1.7%. That was offset by weakness in construction which fell 5.6% over the same period

This table shows the recent trend.

Singapore Ministry of Trade and Industry via Business Insider Australia

The government will release updated figures in its Economic Survey of Singapore that will be released in August. 

Read the original article on Business Insider Australia. Copyright 2017. Follow Business Insider Australia on Twitter.

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More: Singapore Markets Business Insider Australia