<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); margin: 0px; font-stretch: normal; line-height: normal;" class=""><font class=""><i class="">The Wall Street Journal</i> February 6, 2019</font></div><div style="color: rgb(34, 34, 34); font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); font-family: Arial, Helvetica, sans-serif; margin: 0px; font-stretch: normal; line-height: normal;" class=""><br class=""></div><div style="color: rgb(34, 34, 34); font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); font-family: Arial, Helvetica, sans-serif; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="color: rgb(0, 128, 195);" class=""><a href="https://www.wsj.com/news/economy" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.wsj.com/news/economy&source=gmail&ust=1550066011130000&usg=AFQjCNGp6DDOeNvGVKmvl0CXkNdpGwkfWg" style="color: rgb(17, 85, 204);" class="">ECONOMY </a></span><span style="color: rgb(153, 153, 153);" class=""> <span style="color: rgb(0, 128, 195);" class=""><a href="https://www.wsj.com/news/types/capital-account" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.wsj.com/news/types/capital-account&source=gmail&ust=1550066011130000&usg=AFQjCNHqz-u7QTxuv39QfMdGLSm_d9p90A" style="color: rgb(17, 85, 204);" class="">CAPITAL ACCOUNT</a></span></span></div><div style="color: rgb(34, 34, 34); font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); font-family: Arial, Helvetica, sans-serif; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="color: rgb(153, 153, 153);" class=""><br class=""></span></div><p style="font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); font-family: Arial, Helvetica, sans-serif; margin: 0px 0px 8px; font-stretch: normal; line-height: normal; color: rgb(51, 51, 51);" class=""><b class=""><font size="4" class="">Venezuela’s Collapse Exposes the Fake Socialism Debated in U.S.</font></b></p><div style="font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px; font-stretch: normal; line-height: normal; color: rgb(0, 128, 195); min-height: 17px;" class=""><span style="background-color: rgb(255, 255, 255);" class=""><i class=""></i><br class=""></span></div><p style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px 0px 14.8px; font-stretch: normal; line-height: normal;" class=""><span style="background-color: rgb(255, 255, 255);" class=""><b class="">Excerpts:</b> Some polls find young American adults prefer socialism to capitalism, and self-described democratic socialists Alexandria Ocasio-Cortez, a New York congresswoman, and Bernie Sanders, a Vermont senator, have captured the hearts and minds of the Democratic Party. </span></p><p style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px 0px 14.8px; font-stretch: normal; line-height: normal;" class=""><span style="background-color: rgb(255, 255, 255);" class="">Right on cue, critics say they’d turn the U.S. into Venezuela. In his State of the Union address Tuesday night, President Trump condemned Venezuela’s “socialist policies,” then vowed: “America will never be a socialist country.” </span></p><p style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px 0px 14.8px; font-stretch: normal; line-height: normal;" class=""><span style="background-color: rgb(255, 255, 255);" class="">Would these people actually know socialism if they saw it? Taxing the rich, Medicare-for-all, and a Green New Deal that replaces fossil fuels with renewables are certainly liberal, probably radical, possibly unwise.</span></p><p style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px 0px 14.8px; font-stretch: normal; line-height: normal;" class=""><span style="background-color: rgb(255, 255, 255);" class="">But socialist? Hardly.</span></p><p style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px 0px 14.8px; font-stretch: normal; line-height: normal;" class=""><span style="background-color: rgb(255, 255, 255);" class="">Ms. Ocasio-Cortez has proposed a top income-tax rate of up to 70%, where it stood as recently 1981. </span></p><p style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px 0px 14.8px; font-stretch: normal; line-height: normal;" class=""><span style="background-color: rgb(255, 255, 255);" class="">If the federal government ends up financing significant expansion of renewable energy under a Green New Deal, it wouldn’t be unprecedented: it created the Tennessee Valley Authority in the 1930s and the Interstate highway system in the 1950s because their social benefits didn’t lend themselves to private investment. </span></p><p style="color: rgb(34, 34, 34); font-variant-ligatures: normal; orphans: 2; widows: 2; margin: 0px 0px 14.8px; font-stretch: normal; line-height: normal;" class=""><span style="background-color: rgb(255, 255, 255);" class="">These Democratic proposals conscript private capital in the pursuit of social priorities much as President Trump already has by threatening companies who shift production out of the U.S., raise the prices of drugs or publish critical news.</span></p><div class=""><br class=""></div><div class="">
<div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" class=""><div style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;"> ========++++++. Food: Heat has consequences +++++=======<br class=""> <br class="">“We used observational data and output from 23 global climate models to show a high probability </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">(>90%) that growing season temperatures in the tropics and subtropics by the end of the 21st </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">century will exceed the most extreme seasonal temperatures recorded from 1900 to 2006. </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><br class=""></div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">"In temperate regions, the hottest seasons on record will represent the future norm in many locations.</div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;"> <br class="">“Coping with the short-run challenge of food price volatility is daunting. But the longer-term </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">challenge of avoiding a perpetual food crisis under conditions of global warming is far more </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">serious. “<br class=""> <br class="">David. S. Battisti and Rosamond L. Naylor.<br class="">Historical Warnings of Future Food Insecurity with Unprecedented Seasonal Heat. </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">SCIENCE 9 JANUARY 2009<br class=""> </div></div></div></div></div></div>
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