#Jay Lane

[krispyweiss]

Dead & Company Mourn Bill Walton; Extend Sphere Residency

- “Bill was an irreplaceable force & spirit in our family,” band says

Though they are “having a ball” playing in the Sphere, Dead & Company are also mourning the man they called the “biggest Dead Head ever.”

That would be Bill Walton, the NBA great & Grateful Dead enthusiast, who died May 27 at 71. He was a fanatic who befriended the band - Mickey Hart called Walton “the best friend I ever had” - & was often seen towering over other concertgoers near the front of the stage.

“Bill was an irreplaceable force & spirit in our family,” Dead & Company said in a statement that referenced his participation with the group on stage.

“Father Time, Rhythm Devil, biggest Dead Head ever. … He loved this band & we loved him. We will miss our beloved friend, Bill Walton, deeply. Rest in peace & may the four winds blow you safely home.”

Dead & Company also extended their Las Vegas residency at the Sphere to 30 dates with six shows - Aug. 1-3 & 8-10 - that include gigs on the anniversaries of Jerry Garcia’s birth (Aug. 1) & death (Aug. 9).

“We’re having a ball at Sphere, so let’s keep it going,” the band said.

Ticketing info here.

5/28/24

[thebowerypresents]

Willie Nelson Brings Outlaw Music Festival to Forest Hills Stadium

Outlaw Music Festival – Forest Hills Stadium – September 17, 2023

You don’t so much attend a Willie Nelson concert these days as you conform to its warmly understated, sometimes leisurely, sometimes-invigorating pace. Then again, he’s always seemed to have that pause-a-sec-and-listen effect: Whether 30 or 90, delivering sad-eyed, tear-in-beer weepers, tender folk, inspiring hymns or outlaw country rousers, he’s got you. Hearing him play, surrounded by his adoring band, still has that time-stopping quality, and Forest Hills Stadium was in thrall to one of American music’s true and unimpeachable legends on a rainy but warm Sunday evening. 

The Outlaw Music Festival, a going concern for a while now, is Willie’s eclectic seasonal caravan, loading up a sprawling six-hour bill with a range of artists that don’t sound quite like Nelson but are at the same time just right for a show like this, underscoring his own lineage and place in the history of many potent strains of Americana. As ever, he and his impressive band crowned the show with an hour-long set of their own, setting a brisk but not workmanlike pace through his classics (��Whiskey River,” “Mammas Don’t Let Your Babies Grow Up to Be Cowboys,” “On the Road Again,” “I Gotta Get Drunk,” “Always On My Mind,” “Roll Me Up and Smoke Me When I Die”) and those of friends and favorites, including Billie Joe Shaver’s “I Been to Georgia on a Fast Train,” “Stay a Little Longer” from the Bob Willis catalog, “Move It On Over” from Hank Williams, and the immortal “Georgia on My Mind.” Willie’s sung these songs thousands of times, but each one still felt like a warm embrace, even the wistful ones, and even the ones for which he wouldn’t need to do more than go through the motions but is just too classy for that.

About the bill: There were plenty of willing conspirators and indeed, half the fun of a tour like this is the cross-pollination and spirit of collaboration that happens throughout. No less than Norah Jones — a surprise guest, unannounced — low-key sat in on keyboards for most of the Willie set. (It wasn’t even clear it was her until she took a few backing vocals and then a full verse of “I Gotta Get Drunk.”) Harmonica ace Mickey Raphael — a stalwart of Nelson’s band — joined for sections of earlier sets from Los Lobos, the String Cheese Incident and Bob Weir & Wolf Bros using a range of harmonica modes, from sawing roadhouse blues to sweet-’n’-tender folk. And as ever, Willie made his customary invite to many of the musicians, including a game and all-smiles Weir, to join in for the rootsy, hymnal “Will the Circle Be Unbroken” and several more selections, hootenanny-ing up the stage to close the night.

Weir’s Wolf Bros — one of the most interesting post–Grateful Dead bands and as oddly compelling a capture of Weir’s Weir-ness as any other group he’s been part of — got about 90 minutes to roam as the night’s coheadliner and more than made the most of it. The core trio of Weir, Don Was and Jay Lane has mushroomed on the road into a full ensemble, including Weir’s longtime swingman Jeff Chimenti on keys and ace pedal steel from Barry Sless, plus a sturdy horns-and-strings section called the Wolfpack. That bigness was well used here: “Jack Straw,” “Estimated Prophet” (neatly segued into its forever companion, “Eyes of the World,” which itself neatly segued into Marvin Gaye’s “What’s Going On”), the Sunday-special “Samson & Delilah” and a rollicking “Turn On Your Lovelight” were Grateful Dead staples all getting jammy workouts.

Earlier came a potent set from jam-bluegrass stalwarts the String Cheese Incident, somehow now approaching their own 30th anniversary. And earlier still came the mighty Los Lobos — themselves, whoa, 50 years along! — who played a ripsnorting 45-minute frame full of cumbia and full-boogie rockers, including the beloved “Georgia Slop.” 30 years? 50 years? So much beautiful longevity here, but the bar appears to be 90 years, gang. —Chad Berndtson | @Cberndtson

Photos courtesy of Silvia Saponaro | @Silvia_Saponaro

[kitsunetsuki]

David Bailey - Jan Ward Wearing a Necklace by Kenneth Jay Lane (Vogue UK 1970)

[bobbinalong]

new post collecting everybody i've done now because the old one is getting too long through reblogs. maybe i'll post these in groups of threes, after all.

[ma, pa and kon]

[mostlysignssomeportents]

How finfluencers destroyed the housing and lives of thousands of people

For the rest of May, my bestselling solarpunk utopian novel THE LOST CAUSE (2023) is available as a $2.99, DRM-free ebook!

The crash of 2008 imparted many lessons to those of us who were only dimly aware of finance, especially the problems of complexity as a way of disguising fraud and recklessness. That was really the first lesson of 2008: "financial engineering" is mostly a way of obscuring crime behind a screen of technical jargon.

This is a vital principle to keep in mind, because obscenely well-resourced "financial engineers" are on a tireless, perennial search for opportunities to disguise fraud as innovation. As Riley Quinn says, "Any time you hear 'fintech,' substitute 'unlicensed bank'":

https://pluralistic.net/2023/05/01/usury/#tech-exceptionalism

But there's another important lesson to learn from the 2008 disaster, a lesson that's as old as the South Seas Bubble: "leverage" (that is, debt) is a force multiplier for fraud. Easy credit for financial speculation turns local scams into regional crime waves; it turns regional crime into national crises; it turns national crises into destabilizing global meltdowns.

When financial speculators have easy access to credit, they "lever up" their wagers. A speculator buys your house and uses it for collateral for a loan to buy another house, then they make a bet using that house as collateral and buy a third house, and so on. This is an obviously terrible practice and lenders who extend credit on this basis end up riddling the real economy with rot – a single default in the chain can ripple up and down it and take down a whole neighborhood, town or city. Any time you see this behavior in debt markets, you should batten your hatches for the coming collapse. Unsurprisingly, this is very common in crypto speculation, where it's obscured behind the bland, unpronounceable euphemism of "re-hypothecation":

https://www.coindesk.com/consensus-magazine/2023/05/10/rehypothecation-may-be-common-in-traditional-finance-but-it-will-never-work-with-bitcoin/

Loose credit markets often originate with central banks. The dogma that holds that the only role the government has to play in tuning the economy is in setting interest rates at the Fed means the answer to a cooling economy is cranking down the prime rate, meaning that everyone earns less money on their savings and are therefore incentivized to go and risk their retirement playing at Wall Street's casino.

The "zero interest rate policy" shows what happens when this tactic is carried out for long enough. When the economy is built upon mountains of low-interest debt, when every business, every stick of physical plant, every car and every home is leveraged to the brim and cross-collateralized with one another, central bankers have to keep interest rates low. Raising them, even a little, could trigger waves of defaults and blow up the whole economy.

Holding interest rates at zero – or even flipping them to negative, so that your savings lose value every day you refuse to flush them into the finance casino – results in still more reckless betting, and that results in even more risk, which makes it even harder to put interest rates back up again.

This is a morally and economically complicated phenomenon. On the one hand, when the government provides risk-free bonds to investors (that is, when the Fed rate is over 0%), they're providing "universal basic income for people with money." If you have money, you can park it in T-Bills (Treasury bonds) and the US government will give you more money:

https://realprogressives.org/mmp-blog-34-responses/

On the other hand, while T-Bills exist and are foundational to the borrowing picture for speculators, ZIRP creates free debt for people with money – it allows for ever-greater, ever-deadlier forms of leverage, with ever-worsening consequences for turning off the tap. As 2008 forcibly reminded us, the vast mountains of complex derivatives and other forms of exotic debt only seems like an abstraction. In reality, these exotic financial instruments are directly tethered to real things in the real economy, and when the faery gold disappears, it takes down your home, your job, your community center, your schools, and your whole country's access to cancer medication:

https://www.theguardian.com/world/2012/jun/08/greek-drug-shortage-worsens

Being a billionaire automatically lowers your IQ by 30 points, as you are insulated from the consequences of your follies, lapses, prejudices and superstitions. As @pixelpusher220@dmv.community says, Elon Musk is what Howard Hughes would have turned into if he hadn't been a recluse:

https://mamot.fr/@pixelpusher220@dmv.community/112457199729198644

The same goes for financiers during periods of loose credit. Loose Fed money created an "everything bubble" that saw the prices of every asset explode, from housing to stocks, from wine to baseball cards. When every bet pays off, you win the game by betting on everything:

https://en.wikipedia.org/wiki/Everything_bubble

That meant that the ZIRPocene was an era in which ever-stupider people were given ever-larger sums of money to gamble with. This was the golden age of the "finfluencer" – a Tiktok dolt with a surefire way for you to get rich by making reckless bets that endanger the livelihoods, homes and wellbeing of your neighbors.

Finfluencers are dolts, but they're also dangerous. Writing for The American Prospect, the always-amazing Maureen Tkacik describes how a small clutch of passive-income-brainworm gurus created a financial weapon of mass destruction, buying swathes of apartment buildings and then destroying them, ruining the lives of their tenants, and their investors:

https://prospect.org/infrastructure/housing/2024-05-22-hell-underwater-landlord/

Tcacik's main characters are Matt Picheny, Brent Ritchie and Koteswar “Jay” Gajavelli, who ran a scheme to flip apartment buildings, primarily in Houston, America's fastest growing metro, which also boasts some of America's weakest protections for tenants. These finance bros worked through Gajavelli's company Applesway Investment Group, which levered up his investors' money with massive loans from Arbor Realty Trust, who also originated loans to many other speculators and flippers.

For investors, the scheme was a classic heads-I-win/tails-you-lose: Gajavelli paid himself a percentage of the price of every building he bought, a percentage of monthly rental income, and a percentage of the resale price. This is typical of the "syndicating" sector, which raised $111 billion on this basis:

https://www.wsj.com/articles/a-housing-bust-comes-for-thousands-of-small-time-investors-3934beb3

Gajavelli and co bought up whole swathes of Houston and other cities, apartment blocks both modest and luxurious, including buildings that had already been looted by previous speculators. As interest rates crept up and the payments for the adjustable-rate loans supporting these investments exploded, Gajavell's Applesway and its subsidiary LLCs started to stiff their suppliers. Garbage collection dwindled, then ceased. Water outages became common – first weekly, then daily. Community rooms and pools shuttered. Lawns grew to waist-high gardens of weeds, fouled with mounds of fossil dogshit. Crime ran rampant, including murders. Buildings filled with rats and bedbugs. Ceilings caved in. Toilets backed up. Hallways filled with raw sewage:

https://pluralistic.net/timberridge

Meanwhile, the value of these buildings was plummeting, and not just because of their terrible condition – the whole market was cooling off, in part thanks to those same interest-rate hikes. Because the loans were daisy-chained, problems with a single building threatened every building in the portfolio – and there were problems with a lot more than one building.

This ruination wasn't limited to Gajavelli's holdings. Arbor lent to multiple finfluencer grifters, providing the leverage for every Tiktok dolt to ruin a neighborhood of their choosing. Arbor's founder, the "flamboyant" Ivan Kaufman, is associated with a long list of bizarre pop-culture and financial freak incidents. These have somehow eclipsed his scandals, involving – you guessed it – buying up apartment buildings and turning them into dangerous slums. Two of his buildings in Hyattsville, MD accumulated 2,162 violations in less than three years.

Arbor graduated from owning slums to creating them, lending out money to grifters via a "crowdfunding" platform that rooked retail investors into the scam, taking advantage of Obama-era deregulation of "qualified investor" restrictions to sucker unsophisticated savers into handing over money that was funneled to dolts like Gajavelli. Arbor ran the loosest book in town, originating mortgages that wouldn't pass the (relatively lax) criteria of Fannie Mae and Freddie Mac. This created an ever-enlarging pool of apartments run by dolts, without the benefit of federal insurance. As one short-seller's report on Arbor put it, they were the origin of an epidemic of "Slumlord Millionaires":

https://viceroyresearch.org/wp-content/uploads/2023/11/Arbor-Slumlord-Millionaires-Jan-8-2023.pdf

The private equity grift is hard to understand from the outside, because it appears that a bunch of sober-sided, responsible institutions lose out big when PE firms default on their loans. But the story of the Slumlord Millionaires shows how such a scam could be durable over such long timescales: remember that the "syndicating" sector pays itself giant amounts of money whether it wins or loses. The consider that they finance this with investor capital from "crowdfunding" platforms that rope in naive investors. The owners of these crowdfunding platforms are conduits for the money to make the loans to make the bets – but it's not their money. Quite the contrary: they get a fee on every loan they originate, and a share of the interest payments, but they're not on the hook for loans that default. Heads they win, tails we lose.

In other words, these crooks are intermediaries – they're platforms. When you're on the customer side of the platform, it's easy to think that your misery benefits the sellers on the platform's other side. For example, it's easy to believe that as your Facebook feed becomes enshittified with ads, that advertisers are the beneficiaries of this enshittification.

But the reason you're seeing so many ads in your feed is that Facebook is also ripping off advertisers: charging them more, spending less to police ad-fraud, being sloppier with ad-targeting. If you're not paying for the product, you're the product. But if you are paying for the product? You're still the product:

https://pluralistic.net/2021/01/04/how-to-truth/#adfraud

In the same way: the private equity slumlord who raises your rent, loads up on junk fees, and lets your building disintegrate into a crime-riddled, sewage-tainted, rat-infested literal pile of garbage is absolutely fucking you over. But they're also fucking over their investors. They didn't buy the building with their own money, so they're not on the hook when it's condemned or when there's a forced sale. They got a share of the initial sale price, they get a percentage of your rental payments, so any upside they miss out on from a successful sale is just a little extra they're not getting. If they squeeze you hard enough, they can probably make up the difference.

The fact that this criminal playbook has wormed its way into every corner of the housing market makes it especially urgent and visible. Housing – shelter – is a human right, and no person can thrive without a stable home. The conversion of housing, from human right to speculative asset, has been a catastrophe:

https://pluralistic.net/2021/06/06/the-rents-too-damned-high/

Of course, that's not the only "asset class" that has been enshittified by private equity looters. They love any kind of business that you must patronize. Capitalists hate capitalism, so they love a captive audience, which is why PE took over your local nursing home and murdered your gran:

https://pluralistic.net/2021/02/23/acceptable-losses/#disposable-olds

Homes are the last asset of the middle class, and the grifter class know it, so they're coming for your house. Willie Sutton robbed banks because "that's where the money is" and We Buy Ugly Houses defrauds your parents out of their family home because that's where their money is:

https://pluralistic.net/2023/05/11/ugly-houses-ugly-truth/#homevestor

The plague of housing speculation isn't a US-only phenomenon. We have allies in Spain who are fighting our Wall Street landlords:

https://pluralistic.net/2021/11/24/no-puedo-pagar-no-pagara/#fuckin-aardvarks

Also in Berlin:

https://pluralistic.net/2021/08/16/die-miete-ist-zu-hoch/#assets-v-human-rights

The fight for decent housing is the fight for a decent world. That's why unions have joined the fight for better, de-financialized housing. When a union member spends two hours commuting every day from a black-mold-filled apartment that costs 50% of their paycheck, they suffer just as surely as if their boss cut their wage:

https://pluralistic.net/2023/12/13/i-want-a-roof-over-my-head/#and-bread-on-the-table

The solutions to our housing crises aren't all that complicated – they just run counter to the interests of speculators and the ruling class. Rent control, which neoliberal economists have long dismissed as an impossible, inevitable disaster, actually works very well:

https://pluralistic.net/2023/05/16/mortgages-are-rent-control/#housing-is-a-human-right-not-an-asset

As does public housing:

https://jacobin.com/2023/10/red-vienna-public-affordable-housing-homelessness-matthew-yglesias

There are ways to have a decent home and a decent life without being burdened with debt, and without being a pawn in someone else's highly leveraged casino bet.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/05/22/koteswar-jay-gajavelli/#if-you-ever-go-to-houston

Image: Boy G/Google Maps (modified) https://pluralistic.net/timberridge

[lemondoddle]

number one all-time sad wet cat jay moment imo. look at him.

[karaspal]

the superfam tag is just batfam 2.0 tag. where are the women??? where are the men of colour??? why is it only clark, kon and jon??? and why are they always in the presence of a bat??? WHY???

(i love the boys, don’t get me wrong. clark is literally my second all-time favourite character. but the superfam is more than three white dudes.)

[dozydawn]

[ultfreakme]

I forgot that I drew this when SOKE ended lmao

[comicweek]

source

[krispyweiss]

Song Review(s): Dead & Company - “Let the Good Times Roll, “Hell in a Bucket,” “Deal” & “Playing in the Band” (Live, July 15, 2023)

As they head toward the end of their Final Tour, Dead & Company keep on surprisin’.

& the surprise of the livestream sampler from their July 15 show in San Francisco was that in the four-song sequence of “Let the Good Times Roll, “Hell in a Bucket,” “Deal” & “Playing in the Band,” “Bucket” was the best of the bunch.

Dead & Company should’ve dropped “Good Times” - with its shoddy vocals & Bob Weir’s guitar solo - long ago. It just doesn’t jibe with this band’s strengths & weaknesses.

John Mayer was “Bucket”‘s saving grace, loading the lead-in with groovacious leads and scribbling all over the outro. Weir botched some words. But Mayer’s work was phenomenal.

The stand-in guitarist & singer was less effectual on the slow, anti-climactic “Deal” that began set two. & the a cappella ending was an ill-advised, raggedy mess.

Which leads us to “Playing” & a version that cut out before the song’s built-in exploratory section. Maybe it was fantastic - it recently has been - but those of us too cheap to spring for the pay-per-view livestream will never know.

One to go …

Grade card: Dead & Company - “Let the Good Times Roll, “Hell in a Bucket,” “Deal” & “Playing in the Band” (Live - 7/15/23) - C-/B/C/B-

7/16/23

[frootbatpunk]

"Powerless"

by me

[kitsunetsuki]

Irving Penn - Jewelry by Kenneth Jay Lane, 1965, from the book Costume Jewelry in Vogue by Jane Mulvagh (1988)

[bobbinalong]

jon debuted on this day nine years ago, so here's a little birthday post with him, jay and jonathan, sr's scrapbook.

[sarahreadstoomanycomics]

Happy Mother's Day

[lemondoddle]

If you ever wondered how some of those tapes got split between video and audio, this is how 👍