Showing posts with label market fundamentalism. Show all posts
Showing posts with label market fundamentalism. Show all posts

March 21, 2011

Goodnight, Moon


If you got out any over the weekend, especially Saturday night, you probably couldn't help but notice the giant moon. Scientists say this was the biggest full moon in 18 years. All's I know is, when the Spousal Unit and I took a walk in the dark, the moonlight was bright enough to cast a shadow.

It so happened that the Big Moon coincided with said Unit's birthday, although any connection between that blessed event and word associations involving "lunacy" or "lunatic" are purely coincidental. As far as I can scientifically prove.

Looking at the big shining thing made me wonder what life on earth would be like without it being there to shake things up. Would there even be any? That question is above my pay grade.

Another thought that came to mind was the frequent association between full moons and strange behavior that many people who deal with the public swear by. I've heard that this isn't the case, statistically speaking, but no amount of number crunching will convince some folks I know.

Finally, I thought of a line by the medieval Japanese Zen master Dogen, who said, "Enlightenment is like the moon reflected on the water. The moon does not get wet , nor is the water broken."

MEANWHILE, there's Libya.

RECOVERING FROM DISASTER. E.J. Dionne is betting on Japan.

ONE GOOD GAZETTE OP-ED, like this one on fundamentalism of various kinds, deserves another, like this one on gardening.

RIGHT WING TARGET: Elizabeth Warren.

GOAT ROPE ADVISORY LEVEL: ELEVATED

February 19, 2010

TGIF


Random picture. Was it once warm enough to grown these things?

Hectic week. In lieu of a regular post, here are some random items that caught my eye:

ONE YEAR LATER. The Recovery Act had its first birthday this week. While it may have been too small, it did a lot of good.

REASON #3949 why we need comprehensive health care reform.

FREE MARKETS. Who pays?

VAMPIRES are considered here as cultural barometers.

URGENT ANCIENT FISH UPDATE here.

GOAT ROPE ADVISORY LEVEL: ELEVATED

December 01, 2009

100 years in the making


Bully!

When it comes to public policy, it seems that windows of opportunity for action sometimes open--and sometimes they close. And if the boat is missed, it may not come back for a very long time.

Health care reform is a case in point. We now have one of those rare openings to significantly expand access to health care in this country. If we don't get it done soon, we may have to wait for years or decades to try to do this again...or maybe it will never happen.

The idea of providing some kind of system of universal care goes back in mainstream US politics to Republican president Theodore Roosevelt around 100 years ago. It was a plank on his 1912 bid for the presidency on the Progressive ticket.

It was part of his distant cousin Franklin's unfinished New Deal agenda from the 1930s. President Truman made a serious but unsuccessful push for it in the late 1940s, after which it lay dormant for decades.

The 1960s saw a significant expansion of health care with the creation of Medicare and Medicaid, which provided coverage for the elderly, the poor, and low income people with disabilities, although comprehensive reform remained elusive.

Another push for universal care began in the early 1970s and peaked briefly during the Carter administration before fading away again. It wasn’t until the election of Bill Clinton in 1992 that the issue again emerged, only to be torpedoed in 1994. Since then progress has been incremental at best, the most notable example being the creation and reauthorization of the Children's Health Insurance Program (CHIP).

The chance for reform has been nearly a century in the making--here's hoping we don't blow it this time.

THE BALANCING ACT between debt and recovery is discussed here.

MARKET FUNDAMENTALISM. Here's another whack at one of my favorite targets.

ANOTHER LOW RANKING. El Cabrero's beloved state of West Virginia doesn't usually do too well on state rankings for most topics. Here's the latest low grade.

GOOD-NATURED. Humans may have an innate urge to help, according to some researchers.

HERE ARE THE COOL PICTURES OF MICRO-ORGANISMS you ordered.

GOAT ROPE ADVISORY LEVEL: ELEVATED

October 01, 2009

Pre-Copernican economics


The astronomer Ptolemy, circa 90-168 AD.

Lately Goat Rope has been looking at some of the flaws of some schools of economic of economic theory, especially those of the market fundamentalist variety with their warped view of humans as organic calculators.

Just as I was about to head once more into the breech, a friend passed on a link to this op-ed from the Washington Post by Harold Meyerson that speaks my mind. Here are the first three paragraphs:

"The worldly philosophers" was economist Robert Heilbroner's term for such great economic thinkers as Adam Smith, Karl Marx, John Maynard Keynes and Joseph Schumpeter. Today's free-market economists, by contrast, aren't merely not philosophers. They're not even worldly.

Has any group of professionals ever been so spectacularly wrong? Pre-Copernican astronomers and cosmologists, I suppose, and for the same reason, really: They had an entire, internally consistent, theoretically rich system that described the universe. They were wrong -- the sun and other celestial bodies save the moon didn't actually revolve around the Earth, as they insisted -- but no matter. It was a thing of beauty, their cosmic order. A vast faith was sustained in part by their pseudo-science, a faith from which such free thinkers as Galileo deviated at their own risk.

As it was with the pre- (or anti-) Copernicans, so it is with today's mainstream economists. Theirs is an elegant system, a thing of beauty in itself, as the New York Times' Paul Krugman has argued. It just fails to jell with reality. And unlike the pre-Copernicans, whose dogma posed a threat to those who challenged it but not, at least directly, to anyone else, their latter-day equivalents in the economic profession pose a clear and present danger to the well-being of damned near everyone.


The rest is here and methinks it's well worth reading.

IT'S NOT OVER YET. Support for a public option in health care reform is high despite Tuesday's vote in the Senate finance committee.

WHACKADOODLES revisited.

THE OFFICE-CAR is a dangerous place.

GOAT ROPE ADVISORY LEVEL: ELEVATED

May 22, 2009

"...freedom only after countless pains"


Heracles would eventually liberate Prometheus. Image courtesy of wikipedia.

Goat Rope these days is taking a tour of ancient Greek tragedy (but you'll find links and comments about current events below). This week the theme is Prometheus Bound by Aeschylus.

Why Greek tragedy? I'm convinced the tragic lens often is the one that applies best to current problems. In an earlier post about coal and Appalachia, I argued that we too often tend to view the world through a simplified action movie lens, with clear good guys who are all good and bad guys who are all bad (see former President Bush) and a happy ending. Would that it were so.

But back to the story at hand.

It is easy to see Prometheus as the archetypal rebel against tyranny and to view Zeus as an evil usurper. But Aeschylus was concerned with a deeper matter: how excess can be tempered and holy moderation can be achieved. He was all about avoiding excess and calling for moderation.

We only have the first play of his trilogy, but we know it ended with the release of Prometheus, who would aid Zeus with information that would allow him to remain in power.

Zeus, after violently overthrowing the old order, was excessive in his punishment and use of power. Prometheus, though he benefited humanity, was excessive in his pride and defiance, as some of his sympathetic visitors suggested.

Totalitarianism and the rule of force must give way to restraint and the rule of law. Prometheus and Zeus are symbols of forethought and reason on the one hand and power on the other--and these must be reconciled.

Too bad we can't see how Aeschylus got there. Too bad we haven't figured out how to get there ourselves.

Y'all have a good weekend and try not to get chained to any rocks.

SPEAKING OF BEING CHAINED TO ROCKS, this essay hopes we'll be liberated soon from the rock of market fundamentalism.

HEALTH CARE COSTS exceed wage gains in El Cabrero's beloved state of West Virginia (and elsewhere in the US too). Meanwhile, it looks like the health care industry, after making a show of supporting reforms, is trying to sabotage President Obama's health care plan. Their main target is a public option which many see as the key to moving towards universal coverage.

REASON # 42949 why we need the Employee Free Choice Act here.

NOT COOL. WV's proposed state budget includes cuts in legal services for domestic violence victims.

MONKEY BRAINS aren't all that different from ours.

GOAT ROPE ADVISORY LEVEL: ELEVATED

October 15, 2008

Another one bites the dust


Note: this picture of Wu has nothing to do with the subject at hand. I just thought it was cool.

These are tough times for true believers in the cult of the market god, although not quite as tough as one might expect if the moral arc of the universe really did bend toward justice.

(As far as I can tell, that arc tends towards randomness most days.)

We've seen the spectacle of Wall Street Masters of the Universe begging for the Visible Hand of government to rescue them from the Invisible Hand of their moribund deity.

Another sacred relic that has taken a few hits lately is the idea of humans as homo economicus, which is sort of a profit seeking organic bipedal calculator. He/she has shown up in many places in economic theory although not so much in the real world. Here's one definition from John Stuart Mill:

“a being who inevitably does that by which he may obtain the greatest amount of necessaries, conveniences, and luxuries, with the smallest quantity of labour and physical self-denial with which they can be obtained.”


While Mill used that purely as a model, it caught on and has become a tenet of prominent schools of economic ideology. As a recent article in Business Week put it,

This 19th-century concept, embedded in classic economic theory and still embraced today, rests on two assumptions about human nature. The first is that individuals are only motivated by self-interest; the second is that we're all rational decision-makers.


More and more scientific research suggests that humans are more like sentimental monkeys who can talk than organic calculators that can walk.

After all, the human brain wasn't manufactured from the top down; it grew from the ground up. First came the brainstem that we share with reptiles, then the limbic system that we share with mammals. Our enlarged cerebral cortex is, if you'll pardon the expression, an afterthought.

Real people have all kinds of motives, such as the desire for status, respect, fairness, honor, compassion, sex, love, fun, excellence, a good fight, knowledge, or any number of things. Don't take my word for it--just take a good look at human history. As Pascal said,

The heart has reasons that reason knows not of.


IN THE SPIRIT OF FAIR PLAY, if the idea of homo economicus has taken a hit, so has the idea of the Noble Savage. This item shows that chimp-like bonobos, sometimes viewed as a peace-loving paleo-vegan primates, have been discovered hunting and eating monkeys.

SPEAKING OF EATING. Here's a long one by Michael Pollan, author of The Omnivore's Dilemma (which, by the way, is a good book if you haven't tried it) on the politics of food.

THE WISDOM OF CROWDS? This item discusses the psychology of financial panics.

GOAT ROPE ADVISORY LEVEL: ELEVATED

October 14, 2008

The twilight of the idols


Worshipping the golden calf. Image courtesy of wikipedia.

If there is a bright side to the current global economic meltdown, it might be the demise of one of the loopiest religious cults of recent times. The cult in question is that of the market god, which has dominated American political life for nearly the last 30 years.

According to this pseudo-secular cult, "the market"--an ideological abstraction or reification--is viewed pretty much the way monotheistic believers view God. It is all good, all knowing and, like the God of the Hebrew Bible, it is jealous--punishing the sins of disbelievers unto the fourth and fifth generation.

Like the God of the Bible, sometimes the ways of "the market" are mysterious and hard for us to understand, but we must remember that its ways are not our ways, nor are its thoughts our thoughts and that it ultimately works for the good of those who truly believe.

Don't get me wrong. I buy I lot of stuff in "markets," which in one form or other have been around for thousands of years. I don't advocate state ownership of the means of production or the abolition of private property--in fact I wouldn't mind having a bigger goat pasture. But to turn the process of exchange into the equivalent of an object of worship and to elevate this imperfect human idea and institution to the level of the highest good makes many other strange religious practices seem rational.

Say what you want about worshipping and sacrificing to Zeus the Thunderer or Dionysus the god of wine--at least thunder and wine really exist. But an ideal market in which rational actors optimize their decisions and, by pursuing their own interests without regulation or limitation, work for the benefit of all exists only in the heads of academic devotees or political hacks. The great conservative Edmund Burke referred to such people as "sophisters, economists, and calculators."

In the real world, the abstraction of "the market" involves imperfect competition; public subsidies for private wealth; externalities or the passing on social costs to workers, consumers and taxpayers; information asymmetry; speculation; and cronyism. The economy is a human institution and bears the human stain.

In the realm of public policy, devotees have put forward and in large measure enacted their program. They have pursued tax cuts for the wealthy on the basis of a counter factual claim that these "pay for themselves"--which is kind of like saying that taking gas out of your car is the best way to go for a long drive. And they have advocated deregulation of industry and the shredding of the social safety net, which brought us where we are today.

Capitalism could have used better defenders, ones who recognized that the best basis for such an economy of necessity requires some sense of the common good and policies that promote shared prosperity.

The verdict is in on the cult of the market god and the writing is on the wall. As in the Book of Daniel in the Hebrew Bible, it says "mene, mene, tekel, uparsin"--weighed in the balance and found wanting.

MELTDOWN 101. Here's a pretty good overview of the current mess and how we got there.

ECONOMIC CARNAGE. CNN reports on a rash of violence in the wake of the economic meltdown.

CONGRATULATIONS to Princeton economist and NY Times columnist Paul Krugman for his Nobel Prize! The award came mostly for his academic work on issues of trade but he also deserves one for talking sense.

IN CASE YOU'RE WORRIED, here's an item from Newsweek about how the superrich are surviving tough times.

ANIMAL PLANET? Not so much. Many species are vulnerable to climate change.

GOAT ROPE ADVISORY LEVEL: ELEVATED

September 22, 2008

Metaphor and reality


El Cabrero would like to thank regular readers of Goat Rope for putting up with a long series on the Odyssey of Homer. As I've written before, I think this epic of homecoming has universal human appeal but also can shed light on the difficulty many veterans have on returning from war.

I happened to grow up between the wars, but my father served in World War II, having enlisted shortly after asking, and I quote, "Where the #*%@ is Pearl Harbor?" He made it back in one piece but had trouble with his homecoming throughout his life. So have some other people I know who served in Vietnam or Iraq.

To recap, many of the misadventures Odysseus had on his long way home can be seen as metaphors for the many different ways people can lose their homecoming. Indeed, Odysseus can be seen as an example of how not to do it. As Jonathan Shay, a psychiatrist who works with veterans dealing with post-traumatic stress syndrome, wrote

Odysseus was absent from home for twenty years. Ten of those were the Trojan War itself. The remaining ten years were...what? The only account we have of them is Odysseus' fabulous tales told to the Phaeacian courtiers in Books 9-12. Might they have been ten years at home, but not home? Ten years of wildness, drinking, drugging, living on the edge, violence, sex addiction, not-so-petty crime, and of "bunkering in," becoming unapproachable and withdrawn? If so would not Odysseus have been just as "absent" a son to Anticleia, just as "absent" a husband to Penelope, and "absent" a father to Telemachus as if he still had been overseas? Could not these ten years have been told in metaphor as the very same story told in the Odyssey?


Get ready for the sirens...

THE DEBT OF NATIONS. Here's a view from Canada on the current US financial crisis. And here's Paul Krugman with more of the same.

HOW MANY ECONOMISTS DOES IT TAKE to change a light bulb? For many, the answer until recently was "None. The market will take care of it." As this item from the UK points out, it won't.

LOSING IT. The number of foreclosures in West Virginia has been greatly underreported, according to an investigation by the Charleston Gazette.

FEAR THIS. Here's more on the recent study of the psychology and politics of fear mentioned here last week.

GOAT ROPE ADVISORY LEVEL: ELEVATED

June 05, 2008

THE MARKET GOD


"The Worship of Mammon," a 1909 painting by Evelyn De Morgan, courtesy of wikipedia.

Back in the 1990s, Protestant theologian Harvey Cox wrote an interesting essay called The Market as God.

In it, he chronicled the rise of a new "religion," which is a parody of biblical monotheism.

In that theology, The Market is all wise, all good and all knowing. It too is a jealous god and becomes most wrathful when anything (like taxes, labor laws, regulations, or public spending for infrastructure or social services) gets in its way.

For true believers, The Market can do no wrong. If the global economy wipes out some communities or kills lots of workers on the job, we are supposed to remember that its ways are not our ways nor or its thoughts our thoughts.

Although humans have probably been exchanging things almost as long as we've been around, this elevation of Market to deity status is pretty new. As Cox put it,

Since the earliest stages of human history, of course, there have been bazaars, rialtos, and trading posts -- all markets. But The Market was never God, because there were other centers of value and meaning, other "gods." The Market operated within a plethora of other institutions that restrained it. As Karl Polanyi has demonstrated in his classic work The Great Transformation, only in the past two centuries has The Market risen above these demigods and chthonic spirits to become today's First Cause.

Initially The Market's rise to Olympic supremacy replicated the gradual ascent of Zeus above all the other divinities of the ancient Greek pantheon, an ascent that was never quite secure. Zeus, it will be recalled, had to keep storming down from Olympus to quell this or that threat to his sovereignty. Recently, however, The Market is becoming more like the Yahweh of the Old Testament -- not just one superior deity contending with others but the Supreme Deity, the only true God, whose reign must now be universally accepted and who allows for no rivals.


Alas, the Market=God equation makes for bad religion and bad economics. Markets, generally speaking, are a good thing. I buy most of my stuff on them. But like any human institution, they sometimes fail and are always shaped and influenced by other factors, including values, communities, laws and policies.

The less we think of it as a God, the more likely we are to make markets work as a good.

ON A SIMILAR NOTE, here's a critique of the "gospel of consumption."

STUFF THIS. Self-storage is an American growth industry. Could this be the market's way of telling us we have too much stuff?

STUFFED AND STARVED. A new book argues that obesity and world hunger are flip sides of the coin of a messed up food system.

TWISTED PRIORITIES. The latest snapshot from the Economic Policy Institute highlights more skewed priorities and anti-labor bias.

GOAT ROPE ADVISORY LEVEL: ELEVATED

December 31, 2007

RESOLUTIONS


Caption: This man has resolved to cut back on the brewskis.

At this time of year, lots of Americans make New Year's resolutions, many of which last about as long as a WV snowstorm.

El Cabrero is actually pretty big on making resolutions, although they don't necessarily correspond with the New Year. I think there's something cool about picking some fairly distant goal and then putting in the time and effort to get there. Some take way longer than planned. My BA, for example, was acquired on the 10 year plan.

Some of the kinds of resolutions that I've enjoyed the most were of the physical type, like studying martial arts or training for a marathon or triathlon.

To me a marathon is a classical kind of goal. Most people (in their right mind anyway) can't or won't run 26.2 miles at a go. Even if you don't injure yourself trying, the body runs out of gas after 20 miles or so and most of the rest is run on some combination of guts or stupidity (the latter in my case). The secret, if there is one, is paying for it with training and focusing on one mile at a time.

Training for one usually involves months of methodical work, such as intense long runs, intervals, and tempo runs at least three times a week. I've probably run my last, as in spite of all that my heart is probably in worse shape than Dick Cheney's.

Triathlons are good ones too. The combination of swimming, biking, and running is easier on the joints than a marathon but just as intense. This is all the more so if one swims like a stone like me.

One year I went on a tear and resolved to learn a little trigonometry, having gotten off the math train with geometry in high school. That one didn't last too long, although I amused myself for a while with sine, cosine and whatever the other thingie is problems.

Several years ago, I resolved to learn Spanish. The secret in this case is marrying a teacher of the same, although I wouldn't recommend that to everybody. I can read some, babble a bit, and comprehend some if spoken slowly but I know enough to bring a native speaker to tears in a matter of minutes. I'm working on ancient Greek now, but the jury is still out on that one.

Sometimes, I resolve to do kind of random things, like read Thomas Mann's eternal novel The Magic Mountain, which is kind of like the Seinfeld show of German literature. When I got done, I wasn't sure why it seemed so important at the time.

Occasionally, I resolve to do the truly impossible, like keep my desk cleaned off and eliminate piles of paper, but that never happens. As Dirty Harry said, a man should know his limitations.

Happy New Year!

QUESTIONING THE MARKET GOD. Here's an item from the NY Times about second thoughts on an idol with feet of clay.

ON A RELATED NOTE, here's a good Gazette editorial on growing economic inequality. And here's another one all the way from Minnesota along the same lines.

HOW GOOD AND HOW PLEASANT IT IS WHEN THE BRETHREN DWELL TOGETHER IN UNITY. Except maybe in Bethlehem at Christmas time.

THINKING DIFFERENTLY. Here's an interesting item on innovation.

GOAT ROPE ADVISORY LEVEL: ELEVATED

December 05, 2007

WHATEVER HAPPENED TO ALFRED ADLER?


Caption: Psychologist Alfred Adler, by way of wikipedia.

Welcome to Goat Rope. This week it's old school psychology with a heavy dose of current events and commentary.

When the early history of psychoanalysis is discussed, three names are usually front and center: Freud, Jung and Adler. While Freud and Jung still have large popular (not to say cult) followings, Adler (1870-1937) is by far the least known. Ironically, his work can be seen as a forerunner of the current cognitive behavioral approach to psychology and psychotherapy.

Adler was a Viennese physician who was an early collaborator of Freud's. The relationship continued for around 10 years, with Adler eventually serving as president of the Viennese Psychoanalytic Society. However, Adler wasn't shy about developing his own ideas and Sig was never a great celebrator of theoretical diversity, and the two parted ways in 1911.

Adler was nowhere near as sexy as Freud, whether you take that literally or metaphorically, or as occultish as Jung. His basic idea was that people try to move from a perceived negative state to a positive, more complete situation as they understand it and that the best way to do this includes relating productively to other people. He called these striving for superiority and social interest, about which more tomorrow.

LABOR'S LEGACY. Here's a good op-ed from down Florida way that appreciates labor's legacy for all Americans.

FROM THE WEST COAST, here's a good item reminding us that markets are not God.

COMING HOME? A disproportionate number of homeless people are veterans, according to this study.

POST HOC, ERGO PROPTER HOC. Here's an item in praise of Latin which also notes how many things have gone south since its study declined. El Cabrero is thinking of taking up Latin if I ever get anywhere with Greek.

JUST WHEN YOU THOUGHT IT WAS SAVE TO GET BACK IN THE PREHISTORIC WATER, a pretty nasty new one has just been found. You can count on Goat Rope to keep you up to date with dinosaurs and other things that happened millions of years ago. We might get behind on other stuff.

GOAT ROPE ADVISORY LEVEL: ELEVATED

May 23, 2007

THE LONG VIEW


Caption: In this poem, Whitman takes the long view.

The guiding thread through this week's Goat Rope is Walt Whitman's 1856 poem "Song of Prudence." There is also lots of stuff on current events. If this is your first visit, please click on the earlier entries.

To read the whole poem, distasteful section and all, click here.

The poem begins, in typical Walt fashion, with the poet strolling through Manhattan and musing on the human condition. Full disclosure: every time El Cabrero goes there, I try to do the same but with no poetic result so far.

The prudence he ponders is basically the question of how much of what we do really matters in the long run. The answer he comes up with is basically everything all the time and forever. Here's the opening:

Manhattan's streets I saunter'd pondering,
On Time, Space, Reality—on such as these, and abreast with them Prudence.

The last explanation always remains to be made about prudence,
Little and large alike drop quietly aside from the prudence that
suits immortality.

The soul is of itself,
All verges to it, all has reference to what ensues,
All that a person does, says, thinks, is of consequence,
Not a move can a man or woman make, that affects him or her in a day,
month, any part of the direct lifetime, or the hour of death,
But the same affects him or her onward afterward through the
indirect lifetime.

The indirect is just as much as the direct,
The spirit receives from the body just as much as it gives to the
body, if not more.

Then follows a Whitmanesque list (with some distasteful examples regarding onanism and veneral sores that I'll skip) and a statement that there is nothing a person does


But has results beyond death as really as before death.


In other words, we're playing a game with no end, one in which

Charity and personal force are the only investments worth any thing.


That can be today's take home message. Now on to the prose...

E COLI CONSERVATIVES. If you feel like gambling these days, you don't need to visit a casino. Just buy some food for yourself or your pets. As you may have noticed, the whole food thing is becoming riskier and riskier for animals and people. There is plenty of blame to go around, from globalization to Congress to corporate greed, but Paul Krugman blames Milton Friedman.

To be more exact, the cult of the market god of which Friedman was a prophet downplayed the role of government to protect consumer safety and argued that in a free market businesses have an incentive to sell good products. As a result, our food safety now is about where it was before Teddy Roosevelt read Upton Sinclair's The Jungle:

The economic case for having the government enforce rules on food safety seems overwhelming. Consumers have no way of knowing whether the food they eat is contaminated, and in this case what you don’t know can hurt or even kill you. But there are some people who refuse to accept that case, because it’s ideologically inconvenient.

That’s why I blame the food safety crisis on Milton Friedman, who called for the abolition of both the food and the drug sides of the F.D.A. What would protect the public from dangerous or ineffective drugs? “It’s in the self-interest of pharmaceutical companies not to have these bad things,” he insisted in a 1999 interview. He would presumably have applied the same logic to food safety (as he did to airline safety): regardless of circumstances, you can always trust the private sector to police itself.

O.K., I’m not saying that Mr. Friedman directly caused tainted spinach and poisonous peanut butter. But he did help to make our food less safe, by legitimizing what the historian Rick Perlstein calls “E. coli conservatives”: ideologues who won’t accept even the most compelling case for government regulation.


Maybe Voltaire was right: "Let us cultivate our garden."

GOAT ROPE ADVISORY LEVEL: ELEVATED