Tuesday Reads: Evil is as Evil Does

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Good Morning!!!

I really don’t want this to turn into a mini version of my mom’s rants on “people are no damn good”  that I grew up hearing as frequently as some kids hear bed and supper time prayers.  However, it seems that some of the things I’m reading these days just cry out for mom’s mantra on the nature of humanity.  The last few days have seen a constant stream of evil on parade.

On Sunday, David Koch tried to convince ABC viewers that he wasn’t real “evil” because he actually was socially liberal.  Yeah, lot of good that does us when every National Park is timber and animal free, fresh water has been fracked into nonexistence, and every school in America never turns out another scientist.  Doesn’t this guy have enough money yet that he can just quit destroying the planet like some cartoon villain?

“I’m basically a libertarian and I’m a conservative on economic matters, and I’m a social liberal,” Koch responded.

Walters then asked Koch why he uses his wealth to elect socially conservative candidates if he supports gay rights and a woman’s right to choose.

“Well, that’s their problem. I do have those views,” he said.

“What I want these candidates to do is to support a balanced budget,” he added. “I’m very worried that if the budget is not balanced that inflation could occur and the economy of our country could suffer terribly.”

Asked whether he thought it was fair that he’s able to influence elections because of his vast wealth, Koch said that he obeys federal limits on how much he can contribute to individual candidates.

But Koch and his brother, Charles, also donate large sums to support the arts and other philanthropic causes. Walters asked why, then, Koch has developed a reputation as an “evil billionaire.”

“Well, I don’t understand that,” he said.

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Yeah, he sure has his priorities straight.  Fuck People. Fuck the Planet.  Fuck the Economy.  Just don’t fuck with my right to exploit every resource every where possible.

PolitiFact has named it’s Lie of the Year, 2014.  Yup, it’s the damned hyped-up exaggerations on Ebola just ready made to prime the outrage pump of dumb red state Americans.  Notice we heard nothing more about it once Fox News turned out its idiot viewership to let lose the plague of congressional republican locusts on the nation?

Yet fear of the disease stretched to every corner of America this fall, stoked by exaggerated claims from politicians and pundits. They said Ebola was easy to catch, that illegal immigrants may be carrying the virus across the southern border, that it was all part of a government or corporate conspiracy.

The claims — all wrong — distorted the debate about a serious public health issue. Together, they earn our Lie of the Year for 2014.

PolitiFact editors choose the Lie of the Year, in part, based on how broadly a myth or falsehood infiltrates conventional thinking. In 2013, it was the promise made by President Barack Obama and other Democrats that “If you like your health care plan, you can keep it.” While no singular line about Ebola matched last year’s empty rhetoric about health care, the statements together produced a dangerous and incorrect narrative.

PolitiFact and PunditFact rated 16 separate claims about Ebola as Mostly False, False or Pants on Fire on our Truth-O-Meter in 2014. Ten of those claims came in October, as Duncan’s case came to the fore and as voters went to the polls to select a new Congress.

The Northern White Rhino will likely go extinct in a few years because a lot of Chinese Men are worried about Dick Performance.  There are only five left now and they are all elderly and in Zoos and Reserves.   This just makes me want to cry and hate people.

A northern white rhino has died at a San Diego zoo, leaving only five worldwide and bringing the species closer to extinction.

Angalifu, 44, died of old age Sunday at the San Diego Zoo Safari Park.

San Diego Zoo Safari Park announced that Angalifu, one of six remaining northern white rhinos in the world, died Sunday.\nCredit: \tSan Diego Zoo/Helene Hoffman\n
San Diego Zoo Safari Park announced that Angalifu, one of six remaining northern white rhinos in the world, died Sunday. Credit: San Diego Zoo/Helene Hoffman

“With Angalifu’s passing, only five northern white rhinos are left on the planet, including Nola, our elderly female,” the zoo said in a statement.

He was one of a handful of northern white rhinos left worldwide, including a few at a wildlife conservancy in Kenya. There are no known northern white rhinos left in the wild.

Northern white rhinos and southern white rhinos are different subspecies genetically.

Last year, the International Union for Conservation of Nature declared the northern white rhino as “teetering on the brink of extinction.”

Rhinos are killed by poachers almost exclusively for their horns, which sell for tens of thousands of dollars.

Experts say that rhino horn is becoming more lucrative than drugs. The demand is driven primarily by buyers in East Asia, who believe it cures a series of ailments.

Meanwhile, pregnant women are being victimized by state laws and health officials that can’t seem to keep their religious views to themselves. A woman was placed in jail because of Wisconsin’s personhood law.  The woman’s not a person, but war-on-womenthe 14 week old fetus evidently is now and can be protected on the word of any religious hysteric that happens to be a nurse.  Here’s a story where the state put lives at risk out of the concern of religious zealots that believe that women can’t be trusted to be pregnant.  Here’s a story that violates every citizen’s right to privacy and every health care giver’s oath to do no harm.

Tamara Loerstcher was suffering from an untreated thyroid condition and depression and had begun to self medicate with drugs when, in late July 2014, she suspected she might also be pregnant. Loerstcher, uninsured at the time, went to an Eau Claire, Wisconsin, hospital for medical treatment and to confirm her pregnancy.

After submitting to a urinalysis, Loerstcher disclosed her past drug use to hospital workers. But instead of caring for Loerstcher, who as it turns out was 14 weeks pregnant, hospital workers had her jailed.

Those are the allegations in a soon-to-be-filed federal civil rights lawsuit by attorneys from National Advocates for Pregnant Women, the Carr Center for Reproductive Justice at New York University School of Law, and the Perkins Coie law firm.

Loerstcher and her attorneys, in a call with reporters, detailed her experience, including her alleged mistreatment by Wisconsin officials and the ongoing deprivation of Loerstcher’s constitutional rights under a Wisconsin law that grants authorities the power to involuntarily detain and confine a pregnant woman for substance use if she “habitually lacks self-control” and her substance use poses a “substantial risk” to the health of an egg, embryo, or fetus.

The Wisconsin policy is similar in nature to radical “personhood” laws pushed in state legislatures controlled by anti-choice lawmakers. “Personhood” amendments, which would outlaw abortion at any stage of pregnancy, were roundly rejected by voters in several states on Election Day.

According to Loertscher and her attorneys, unbeknownst to her, as hospital workers were preparing a prescription to treat Loertscher’s thyroid condition, they were also initiating unborn child protection proceedings on behalf of Loertscher’s then 14-week-old fetus.

Loertscher and her attorneys claim that within days of Loertscher seeking care, hospital workers had already turned over Loerstcher’s hospital records to the state without Loerstcher’s knowledge or consent. They also claim that with those records in hand, state officials filed a petition accusing Loerstcher of abuse of an unborn child and held a hearing in which the state had appointed an attorney, known as a guardian ad litem, for the 14-week-old fetus, but granted Loerstcher no meaningful representation.

At the hearing, Loertscher and her attorneys allege she was ordered by the court into in-patient treatment even though she had not used drugs recently and voluntarily sought medical care. When Loerstcher refused to go to in-patient treatment, she was held in contempt of court and sent to jail, where she was held for 17 days without prenatal care and subject to abuse and harassment.

“This was my first pregnancy, so I didn’t know what to expect,” Loerstcher told reporters. “I was having lots of cramping and a lot of stress from everything and they [jail officials] wouldn’t allow me to see the doctor. They told me I would have to see a jail-appointed doctor who told me she wanted me to take a pregnancy test to confirm the pregnancy even though that’s why I was in jail, because I was pregnant. They knew that’s why I was there.”

Loerstcher claims she refused the pregnancy test, and in response, correction officials put her in solitary confinement and threatened to use a taser on her. “The jail doctor told me if I chose to miscarry, there wasn’t anything they could do about it anyways,” Loertscher said through tears.

About a week after Loerstcher’s release, she says she got a notice in the mail from the state stating they had found she had engaged in child abuse.

“It was really devastating to get that letter,” said Loerstcher. Unless it’s overturned on appeal, Loerstcher’s name will appear on the state’s child abuse registry for life. That would mean Loerstcher, who is a certified nurse’s aid, would be unable to work in her field, noted her attorney, and that she would be barred from ever volunteering at her son’s school after he is born in January. “This has very serious ramifications for her life and economic stability long term,” said Sara Ainsworth, director of legal advocacy at the National Advocates for Pregnant Women and counsel for Loerstcher.

In order to be released from jail, Loertscher had to sign a consent decree agreeing to additional drug tests, so she remains under state custody to some extent, her lawyer said.

GOP and WomenMore evidence that Republicans can’t be trusted to govern as written by Steve Benen.   No idiot media seeking continual bipartisanship, there  simply is no Bipartisanship Santa.  A vote for a Republican is a vote for a destroyed economy, a destroyed ecosystem, a destroyed school system, and a lot of disenfranchised Americans who will have their rights stripped away quickly.

Just one month later, there’s already ample evidence that those assumptions about Republican maturity were completely wrong.
Republican Tom Price, the incoming House Budget Committee chairman, said his party could demand steep spending cuts in exchange for raising the debt ceiling next year, the most provocative comments by a senior GOP member to date on how negotiations could play out.
The Georgia congressman, during an hour-long briefing with reporters Friday, said the expected mid-2015 debate over whether to raise or suspend the debt ceiling offered Republicans an opportunity to make a sizable imprint on government policy.
The far-right Georgian added that he wants to see Republicans bring back the so-called “Boehner rule” – an arbitrary policy that demands a dollar in cuts for every dollar increase in the debt limit – that even Republicans recognized as ridiculous a couple of years ago.
“I prefer to think about it as opportunities and pinch points,” Price said, apparently using “pinch points” as a euphemism for “causing deliberate national harm.”
It’s worth emphasizing that Price isn’t some random, fringe figure, shouting from the sidelines – the Georgia Republican next month will fill Paul Ryan’s shoes as chairman of the House Budget Committee.
In other words, it matters that Price envisions a strategy in which Republicans threaten to hurt Americans on purpose unless Democrats meet the GOP’s demands.
That said, Price would be wise to start lowering expectations – his intention to create a deliberate crisis will almost certainly fail.
The gist of the plan is effectively identical to the scheme hated by House Republicans in 2011. Next year, the Treasury Department will alert Congress to the fact that it’s time to borrow the funds necessary to pay for the things Congress has already bought. As Price sees it, the GOP-led Congress will tell the Obama administration, “We’ll cooperate, but only if you slash public investments. If not, we’ll default on our debts, crash the economy, and destroy the full faith and credit of the United States.”
Why Price or anyone else would want to slash public investments right now – hurting the economy, just as the recovery gains steam – is a bit of a mystery.

No conversation on evil can forget Dick Cheney. I’m not sure how close you’ve been following the Dick Cheney Torture-rama Press tour, but it’s pretty disgusting.  I’m usually not up for Conor Friedersdorf, but even he thinks Cheney’s an Evil Dickhead.  Cheney’s interview with Chuck Todd on Sunday was like watching one of those mad scientist movies.

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That exchange leaves no room for mistaking former vice-president Cheney’s position: better to chain a man to the wall of a cell, douse him in cold water, and leave him there to freeze to death, even if he later turns out to be innocent, than to release that same man and risk not that he detonates a nuclear bomb in Manhattan, but that he ends up “on the battlefield,” where there’s a chance he could harm Americans. What if fully one-in-four prisoners tortured by the CIA were innocent?

Cheney is still unmoved:

CHUCK TODD:

Is that too high? You’re okay with that margin for error?

DICK CHENEY:

I have no problem as long as we achieve our objective.

The ends justify the means.

There is no clearer illustration of the morally corrosive nature of torture than the once unthinkable position that Dick Cheney is unashamedly espousing on television. The position is even less defensible than the conceit that the Office of Legal Counsel defines what torture is. It is so indefensible that Cheney himself can scarcely maintain it.

You have to wonder where you measure on the vast barometer of human sewage if Conor Friedersorf won’t defend your evil ass as a former Republican ‘Conservative” Vice President.

Jon Stewart for the win, however.  “Puppet Master Cheney’s mind” is “the scariest fucking place in the universe.” 

“George W. Bush, thank you for not dying while you were in office,” Stewart said to the former president.

When pressed by Todd to explain his definition of torture following the release of a Senate report criticizing the CIA’s “enhanced interrogation” procedures, Cheney continually defined torture as the events of the 9/11 attacks.

“I see — that’s just what meets the definition of torture in his mind,” Stewart said. “His mind, I assume, being the scariest f*cking place in the universe.”

Stewart then tried to get a peek inside the “presidential puppet master’s” mind, only to find a scene out of My Little Pony: Friendship is Magic.

“Never took him for a brony,” Stewart observed.

What set Cheney apart, Stewart explained, was his ability to set the “moral bar” for the U.S. at anything just shy of the worst thing that had been done to the country, as well as his confidence.

“He’s impervious to doubt,” Stewart said. “It never enters his mind that the confident, plain-spoken pronouncements of truth are often times complete bullsh*t.”

shutterstock_101263915-800x430There, name that republican presidential candidate for 2016 over in that line up.  Whichever one gets on the ballot, there will be a Koch entering his backside. My guess is that he’ll have Dick Cheney on the campaign trail for him too.

 And, yes, David Koch is Evil.  Amanda Marcotte gets it right.

Here’s the thing about men like David Koch: Making money is basically just a video game to them. For the rest of us, making money is about being able to pay for things we need and want, such as rent and food and actual video games. But David Koch has made so much money that he literally cannot spend it all. There is nothing he would want to buy he cannot already afford. The only purpose at this point in making more money is for the pleasure of beating your high score. In other words, it really is just a very consuming video game. But unlike when you kill people in Call of Duty or crush candies in Candy Crush, the game David Koch is playing is very real. Millions of people will suffer and die because he wants to “win” his video game by manipulating the public to avoid taking action on global warming. That is evil and hateful and selfish on a level that puts the word “selfish” to shame.

And no, being pro-choice and pro-gay doesn’t make up for it. That’s like having a hobby of strangling kittens and then saying it’s all good because you donate clothes to Goodwill once in awhile. Worse, actually, because David Koch isn’t actually pro-choice in any meaningful sense, because he gives money to anti-choice activists, as documented by Adele Stan at RH Reality CheckThe Koch brothers give money to right wing umbrella groups, who then give it to anti-choicers. Why is fairly obvious. This is about manipulating misogynist, anti-sex hysteria in order to elect politicians who are on board with the anti-environmentalist agenda. A manipulation that is, in itself, evil on a couple of levels, both because you’re manipulating people and because you’re engaging bad people who have bad motivations to hurt and control others. It’s terrible, hateful behavior all the way down.

With that, I’ll leave you to grade papers.  I’m pretty sick of humanity at the moment and I do not understand how any one with a will to survive could vote Republican anymore.

Anyway, I dare y’all to find good news today.  Please!!!


Friday Reads: Economic Anemia

Good Morning!

MuslinVoodooDoll-2Since I’m in the middle of revamping my course for Graduate Finance Students in International Finance and reviewing textbooks and the usual stuff, I thought I’d focus on the economy for the morning.

One of the most awful results of the Reagan years has been the creation of mainstream paranoia over policy using  data evident from the scientific method, intellectuals and academics that spend years researching and learning theory and empirical evidence, and the idea that government can’t ameliorate issues through policy but is somehow a potential enemy of the governed.

This kind of paranoid drivel used to be the realm of militia types like Clive Bunday and John Birchers like the Koch Brothers and father.  It had no place in mainstream discourse until Reagan started pumping up the idea that poor people game the government and the government games every one else.   Its now spread to Christian extremists, the NRA, and most of the Republic Party.

Let me give you the latest example of someone who is possibly going to be a Senator from Iowa.  Joni Ernst is doing the Sharon Angle thing of declaring any government issue she doesn’t like her potential enemy and any one supporting that view as a potential target of her nice little gun that she carries with her everywhere. 

Joni Ernst, the Republican candidate for U.S. Senate in Iowa, said during an NRA event in 2012 that she would use a gun to defend herself from the government.

“I have a beautiful little Smith & Wesson, 9 millimeter, and it goes with me virtually everywhere,” Ernst said at the NRA and Iowa Firearms Coalition Second Amendment Rally in Searsboro, Iowa. “But I do believe in the right to carry, and I believe in the right to defend myself and my family — whether it’s from an intruder, or whether it’s from the government, should they decide that my rights are no longer important.”

Ernst made the remark a little more than a month after gunman James Holmes allegedly killed 12 people and injured 58 in a movie theater in Aurora, Colorado. Ernst’s campaign did not respond to The Huffington Post’s request for comment about the remark on Wednesday evening.

Earlier this year, Ernst released an ad in which she points a gun at the camera and vows to “unload” on Obamacare.

We’ve also experienced this massive attempt to rewrite secondary school textbooks and curricula to reflect the deeply held philosophical and religious views of these folks rather than theory or empirical evidence brought about by hundreds of years of research and scholarship.  This also ignores primary documents that show just the opposite to be factual.

But, facts be damned, there’s children’s minds to warp.  Biased ideas are not at the center of legitimate academic pursuit. Folks that follow agendas tend to live at the edges of universities and most departments are quite embarrassed by them. I spent time in a department where one research professor’s favorite pursuit was proving that iqs and brain sizes among varying races were the reason for underachieving groups in an economy.  All DNA evidence shows that race is a social construct but this guy spent a life time trying to show the relationship between brain sizes of races and incomes and jobs.  So, most time when you see folks that believe this stuff, they reside some where on the fringes.  However, since the Reagan years, there’s been a major attempt by right wing religious zealots to teach propaganda and there’s been a rather significant increase in the level of ignorance on things from incoming freshmen.

This is happening even in economics where you would think that paranoia about “communism” would’ve gone away since the fall of the USSR.  Not true, however.  They prefer to fear imagined boogey men and to set up  imagined fairy tale rescuers over doing policy that’s be proven effective in years of empirical study.

The standards’ authors are clearly fans of the free enterprise system, consistently emphasizing the advantage of American capitalism over other structures.

For example, the high school standards state that students should be able to “understand how the free enterprise system drives technological innovation and its application in the marketplace.” The middle school standards clearly promote free enterprise capitalism over other economic systems, saying that students should be able to “compare and contrast free enterprise, socialist, and communist economies in various contemporary societies, including the benefits of the U.S. free enterprise system.” Finally, the standards connect capitalism with the conservative ideal of limited government, asking students to be able to “explain why a free enterprise system of economics developed in the new nation, including minimal government intrusion, taxation, and property rights.”

It really takes very little time spent in economics to realize that political constructs are not economic constructs. For example, the United States economy was founded on Mercantilism which began with monopolies, charters, grants and largess of royalty and aristocracy.  The concepts of Capitalismimages (3) and of Communism had the same roots and they were a lot more philosophical than ever real.  Even, now, we have a modified market system.  There has never EVER been a “free market” system or “communism” in an economic sense.  Socialism is just one end of a modified market system and still relies heavily on private ownership of the majority of factors of production.  Most facets of government policy are to make a market behave closer to a free market model because it can’t possibly d0 so under one factor, characteristic, or situation that exists. I mean really, who wants to leave the market for uranium to the free market?  That’s just an extreme example.

The problem is that dogma has overtaken reality among folks that now find themselves in office.  It’s bad for the country.  It’s bad for business. It’s bad for nearly every one.  The one thing that’s becoming abundantly clear since the Clinton Presidency and definitely during the Obama Presidency is that the Democratic Party is the party of Wall Street and Big Business.  It’s not the Republicans.  No where is this more evident than economic reports written by the private sector.  Today’s Republicans scare the shit out of big business and finance.  The last few battles to keep the federal government and the deficit funded has nearly caused market meltdowns twice. You also don’t see them complain about increasing the minimum wage or decreasing the current level of income equality.  NO REALLY.   This means Chris Christie is really going to have some ‘splaining to do over this statement. 

Labor Secretary Tom Perez on Thursday panned New Jersey Gov. Chris Christie’s comments that he’s “tired” of the minimum wage debate.

“Chris Christie’s got his head in the sand if he’s getting tired about the minimum wage,” Perez said according to Bloomberg Politics.

President Barack Obama and Democrats have led the push to raise the federal minimum wage to $10.10, and the issue has made its way onto the campaign trail this year.

“Chris Christie needs to talk to his economists, who will tell him that 70 percent of GDP growth is consumption,” Perez said Thursday.

The criticism came just days after Christie said he was “tired of hearing about the minimum wage” at a U.S. Chamber of Commerce conference on Tuesday.

“I really am,” the Republican governor and potential 2016 hopeful said. “I don’t think there’s a mother or a father sitting around the kitchen table tonight in America saying, ‘You know, honey, if our son or daughter could just make a higher minimum wage, my God, all of our dreams would be realized.'”

“Is that what parents aspire to for our children?” Christie asked. “They aspire to a greater, growing America, where their children have the ability to make much more money and have much great success than they have, and that’s not about a higher minimum wage.”

Before the Labor secretary chimed in, the remark drew fire from other Democrats, and White House Press Secretary Josh Earnest even quipped during a briefing Wednesday that people living on a minimum wage are those who are really tired.

Christie also used his time at the podium to make a 2016 prediction.

“I am convinced that the next president of the United States is going to be a governor,” Christie said. “We’ve had this experiment of legislating .. and getting on-the-job training in the White House. It has not been pretty.”

voodoo-doll-670So, this kind’ve talk is really making the economists of Wall Street and of huge corporations very nervous.  They’re quite aware that today’s Republican Party is tanking the economy.

Even though Republicans depict themselves as the party for business and banks, it turns out that the GOP’s economic policy is detrimental to their bottom lines and continued existence; particularly rising costs and stagnant wages since the Bush-Republican Great Recession. What both bankers and retailers really want instead of tax cuts, deregulation, and more Republican austerity and budget cuts are better incomes for all Americans that will lead to increased consumer confidence and greater purchasing power to trigger higher business profits. What they have learned after thirty years of “trickle-down” is that the trillions of dollars taken by the 1%, especially since 2009, have failed miserably to stimulate the economy. Instead, they demand more buying by the masses that Wall Street firms and analysis of 65 of the nation’s top retailers claim will only happen with, as President Obama preaches, growing the economy from the middle-out.

For example, in a report last month titled Inequality and Consumption, Morgan Stanley economists said, “Despite the roughly $25 trillion increase in wealth since the recovery from the financial crisis began, consumer spending remains anemic. Top income earners have benefited from wealth increases but middle and low income consumers continue facing structural liquidity constraints and unimpressive wage growth. To lift all boats, further increases in residential wealth and accelerating wage growth are needed.” Republicans completely disagree and either resist consideration of raising the minimum wage or promote abolishing it altogether. According to the Republicans, increasing income inequality must continue and it is crucial that they convince the population that no wage is too low. It is a belief the Koch brothers espouse but it is rapidly losing favor in circles whose survival depends on a population of consumers.

Standard and Poor’s (S&P) rating agency concurred with Morgan Stanley’s economists in their August report, How Increasing Income Inequality Is Dampening U.S. Economic Growth, And Possible Ways To Change The Tide, and strongly advised the federal government to create “a path toward more sustainable growth, that in our view, will pull more Americans out of poverty and bolster the purchasing power of the middle class. A rising tide lifts all boats…but a lifeboat carrying a few, surrounded by many treading water, risks capsizing.” To “lift all boats,” S&P suggests a “high degree of rebalancing” that includes increased “spending in the areas of education, health care, and infrastructure to help control the income gap that, at its current level, threatens the stability of an economy still struggling to recover.” Contrary to wisdom of real economists concerned with America’s economic survival, Republicans across the country have been laser-focused on their austerity crusade to cut spending on education, infrastructure, and healthcare including the cruel heartlessness of refusing free Medicaid expansion under the Affordable Care Act.

Despite the call from both banks and businesses to increase the minimum wage and spending on essentials for a robust recovery, congressional Republicans have obstructed and outright blocked each and every attempt by the President and Democrats to stimulate the economy. Despite trailing every developed nation on Earth in infrastructure, Republicans consistently refuse the President’s calls to increase spending on desperately-needed infrastructure repairs including roads, bridges, public buildings, and sewers that numerous economists, including some highly respected conservatives, say is crucial for job-creation, increased consumer spending, and a vibrant recovery. Increased consumer confidence, and spending, is something all economists agree is for the good of the country’s economy but can only happen if incomes rise for the majority with higher wages and more well-paying jobs.

I’ve said this a million times but it’s true.  If you have an economy that’s 70% reliant on consumer spending for growth and 99% of the population has stagnant to falling real income, you’re going to run into trouble.  Especially since a huge part of that 99% spends high levels, all of, or beyond black-voodoo-dolltheir income and wealth levels.  Years and years of evidence has shown that consumers are the real job creators.  No business hires workers if no one is buying their goods and services.  Rich people–especially with some of the horrid changes we’ve had in the tax code during the Dubya years–are spending more and more of the income and wealth on gambling paper for paper profits.  This does not create anything of value in a real economy but it sure creates asset bubbles and the potential for financial meltdowns.   One has only to survey retailers to figure out the relationship between incomes of the middle and working classes and their bottom lines and their hiring plans.

Former Walmart U.S. CEO Bill Simon, whose company had seen consumer traffic drop for six straight quarters and same-store sales drop for five quarters, explained in July 2014 that “we’ve reached a point where it’s not getting any better but it’s not getting any worse—at least for the middle (class) and down.” Kip Tindell, CEO of the Container Store, put retailers’ feelings best when he said, “consistent with so many of our fellow retailers, we are experiencing a retail ‘funk.’” The culprit is obvious: low wage and income growth for the middle class. Median household income in 2013 stood 8 percentage points below its 2007 prerecession level.

The simple fact of the matter is that when households do not have money, retailers do not have customers. The failure of incomes to keep up with the growing cost of college, child care, and other middle-class staples leaves even less money for retail spending. A previous analysis by the Center for American Progress shows that this so-called “middle-class squeeze”—stagnant incomes and the growing cost of middle-class security—leaves the median married couple with two kids with $5,500 less to spend annually on food, clothes, and other essentials that retailers sell.

Or, as officials of J.C. Penney—whose sales fell 9 percent in 20136—put it when listing the risks to its stock value: “the moderate income consumer, which is our core customer, has been under economic pressure for the past several years.”

Moreover, retail spending—which includes spending on everything from clothing to groceries to dining out—has broad implications for the entire economy since it accounts for a large fraction of consumer spending, which itself makes up 70
percent of U.S. gross domestic product, or GDP.

Even Walmart is concerned even while not paying living wages, not providing good benefits, and not creating an environment where a worker feels secure about his/her future.  Now the weird thing is that fringe economists are still overly scared about inflation and high taxes.  These things, however, are not at the top of any one’s concerns that would be invited on any Fox News program.   Here’s a headline from Forbes: “Want a Better Economy? History Says Vote Democrat!”.  In 2012, a number of books evaluated the results of the economy under Democratic vs Republican administrations.  The results are startling.

Senator Daniel Patrick Moynihan is attributed with saying “everyone is entitled to his own opinion, but not his own facts.“ So even though we may hold very strong opinions about parties and politics, it is worthwhile to look at historical facts. This book’s authors are to be commended for spending several years, and many thousands of student research assistant man-days, sorting out economic performance from the common viewpoint – and the broad theories upon which much policy has been based. Their compendium of economic facts is the most illuminating document on economic performance during different administrations, and policies, than anything previously published.

The authors looked at a range of economic metrics including inflation, unemployment, corporate profit growth, stock market performance, household income growth, economy (GDP) growth, months in recession and others. To their surprise (I had the opportunity to interview Mr. Goldfarb) they discovered that laissez faire policies had far less benefits than expected, and in fact produced almost universal negative economic outcomes for the nation!

From this book loaded with statistical fact tidbits and comparative charts, here are just a few that caused me to realize that my long-term love affair with Milton Friedman‘s writing and recommended policies in “Free to Choose” were grounded in a theory I long admired, but that simply have proven to be myths when applied!

  • Personal disposable income has grown nearly 6 times more under Democratic presidents
  • Gross Domestic Product (GDP) has grown 7 times more under Democratic presidents
  • Corporate profits have grown over 16% more per year under Democratic presidents (they actually declined under Republicans by an average of 4.53%/year)
  • Average annual compound return on the stock market has been 18 times greater under Democratic presidents (If you invested $100k for 40 years of Republican administrations you had $126k at the end, if you invested $100k for 40 years of Democrat administrations you had $3.9M at the end)
  • Republican presidents added 2.5 times more to the national debt than Democratic presidents
  • The two times the economy steered into the ditch (Great Depression and Great Recession) were during Republican, laissez faire administrations

The Obama economy is actually surprisingly good given that a large number of good economic policies have not been enacted due to Republican political kung fu.images (4)

It was no joke on Thursday when I asked Austan Goolsbee, a pretty fair amateur comic, to rattle of key economic indicators that are trending in very positive ways right now.
“Jobs created. Weekly U.I (jobless) claims. Unemployment rate. Auto Sales. Gas Prices,” said Goolsbee, former head of President Obama’s Council of Economic Advisers and a onetime winner of the annual “D.C.’s Funniest Celebrity” contest.

And, yet, as a headline in Politico.com also noted Thursday, “Economic Anxiety Dominates 2014.” So what’s really and truly up? What explains the disconnect between seemingly very strong numbers and the lack of love for Obama and the Democrats?

“You can’t brag about the economy because people can’t feel it,” said Thomas Bowen, a Chicago-based Democratic political and policy consultant.

“I’m sure (some) Democrats have polled this: ‘The recovery isn’t working for you.’ That’s why they’re not running on the economy improving.

Not long after, I was driving past a state unemployment office along a rather somber commercial strip on Chicago’s Northwest Side. The parking lot was full. And then I mulled the folks I know working part-time involuntarily or sticking with jobs they don’t especially like out of fear of the limited alternatives.

“You’re talking about indicators in the last six months,” said Bowen. “But look at the start of the recession until today. We’re just getting out of the hole from jobs losses. And the jobs aren’t the same. They’re not higher paying construction jobs.” “Not all indicators equate with average folks,” said Anna Greenberg, a Washington-based Democratic pollster.

“Wages and salaries are stagnant,” she said. “Yes, the stock market is up and the jobless rate down. But the cost of living is up and you may not have more money.”

images (5)So, a lot of economists like me remain very confused.  It’s not like there’s not support by people and businesses for good policy like infrastructure projects, improving the terms of student loans so more folks can access higher and continuing education, and a reasonable minimum wage.  The cities and states that have raised the minimum wage are even those that are doing well among states.   States that have raised their minimum wages have better job growth.

New data released by the Department of Labor shows that raising the minimum wage in some states does not appear to have had a negative impact on job growth, contrary to what critics said would happen.

In a report on Friday, the 13 states that raised their minimum wages on Jan. 1 have added jobs at a faster pace than those that did not. The data run counter to a Congressional Budget Office report in February that said raising the minimum wage to $10.10 an hour, as the White House supports, could cost as many as 500,000 jobs.

The Associated Press writes:

“In the 13 states that boosted their minimums at the beginning of the year, the number of jobs grew an average of 0.85 percent from January through June. The average for the other 37 states was 0.61 percent.

“Nine of the 13 states increased their minimum wages automatically in line with inflation: Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Vermont and Washington. Four more states — Connecticut, New Jersey, New York and Rhode Island — approved legislation mandating the increases.”

The AP notes: “[The] state-by-state hiring data, released Friday by the Labor Department, provides ammunition” to the camp in favor of raising the minimum wage.

“Economists who support a higher minimum say the figures are encouraging, though they acknowledge they don’t establish a cause and effect. There are many possible reasons hiring might accelerate in a particular state.

” ‘It raises serious questions about the claims that a raise in the minimum wage is a jobs disaster,’ said John Schmitt, a senior economist at the liberal Center for Economic and Policy Research. The job data ‘isn’t definitive,’ he added, but is ‘probably a reasonable first cut at what’s going on.’ “

So, it just appears that there’s a huge portion of the United States electorate and elected that would rather live in their dream world of imaginary beings and dogma than have their lives made better by using what we know and what we’ve learned.

What’s on your reading and blogging list today?


Tuesday Reads: Hostage Situation

WP-Hostage2

Good Morning!!

I hardly know where to begin this morning. The insanity that has gripped the nation’s capital is so extreme that some kind of intervention may be necessary.

Is it possible for the UN or the IMF to step in and explain to Tea Party Republicans why the full faith and credit of the United States government cannot be held hostage in an effort to overturn the results of two elections? Or perhaps they could explain to House Speaker John Boehner that his frantic efforts to hold onto his speakership could end with voters replacing him with a Democratic Speaker in 2014?

As depicted in the cartoon above, the Republican majority in the House is being held hostage by around 30-40 delusional Tea Party wingnuts and their putative leader–John Boehner has no clue how to deal with the hostage crisis. It’s a mystery to me why anyone would even want that job, but to Boehner the job is apparently more important than the nation’s–and the world’s–economic well-being. Holding onto his job is apparently so important to him that he is willing to look like a complete fool rather than stand up to a bunch of crazy people in his own party.

Meanwhile, the media pundits are getting a little more restless–realizing that we really could reach the debt limit on October 17 without the House voting on a “clean” continuing resolution or an increase in the government’s ability to borrow to pay its bills.

Normally, I wouldn’t link to the National Review, but yesterday they published a piece by Washington editor Robert Costa, who probably has a pretty good idea what insane caucus in the House is up to. Costa writes:

Speaker John Boehner may be trying to finalize a plan to raise the debt limit, but House conservatives are already skeptical of his efforts. In interviews, several of them tell me they’re unlikely to support any deal that may emerge.

Costa goes on to quote a few of the wackiest of the wackos (emphasis added):

“They may try to throw the kitchen sink at the debt limit, but I don’t think our conference will be amenable for settling for a collection of things after we’ve fought so hard,” says Representative Scott Garrett (R., N.J.). “If it doesn’t have a full delay or defund of Obamacare, I know I and many others will not be able to support whatever the leadership proposes. If it’s just a repeal of the medical-device tax, or chained CPI, that won’t be enough.”

Representative Paul Broun (R., Ga.) agrees, and says Boehner risks an internal rebellion if he decides to broker a compromise. “America is going to be destroyed by Obamacare, so whatever deal is put together must at least reschedule the implementation of Obamacare,” he says. “This law is going to destroy America and everything in America, and we need to stop it.”

“Stay the course, don’t give in on it, that’s what the people in my district are saying,” says Representative Ted Yoho (R., Fla.). “We did a town hall the other day, and 74 percent of people said, ‘don’t raise the debt ceiling.’”

This despite the fact that polls show their ideas are poison to the American public. These people are truly insane, and they believe they’re winning. Nothing will stop them except throwing them out of their jobs. Here are some other reactions to Costa’s piece.

David Atkins of Hallabaloo: Nothing less than Fort Sumter will do.

If you think this is insane–and it is–keep in mind that it’s only going to get worse from here.

Until Republicans are removed from control of all branches of government, the brinksmanship is going to get worse, and the demands are going to become more severe. The lunatics are running the asylum now, the revanchist movement is in full swing, and the Lost Cause is the name of the game.

Not even sequestration-level spending plus cutting Medicare and Social Security will do for these people–and that’s after losing an election. Try to picture where the Republican party was 30 years ago. Then 20 years ago. Then 10 years. Then today. Now picture 10 years from now. Anyone who thinks there’s going to be a retreat from the precipice is deluding themselves. If they lose in 2014, it will be because they didn’t hold firm against Obamacare. If they lose to Hillary in 2016, it will be because they didn’t shout loud enough about Benghazi.

If we don’t stop them somehow, the Tea Party crazies will try to refight the Civil War.

Josh Barro at Business Insider: Republicans Do Crazy Things Because They Have Crazy Beliefs. Barro responds to Georgia Rep Paul Broun’s claim that “America is going to be destroyed by Obamacare….This law is going to destroy America and everything in America, and we need to stop it.”

It’s one thing to oppose Obamacare. It’s quite another to believe it will “destroy America and everything in America.” As Manhattan Institute Senior Fellow Avik Roy, a strong opponent of Obamacare, wrote last month:

The idea that we had a free-market health-care system before Obamacare, and a socialized one after, is completely and utterly incorrect. In 2010, before the passage of Obamacare, U.S.-government entities spent more per capita on health care than all but three other countries in the world. Obamacare adds to that spending by around 10 to 15 percent. Not good, to be sure, but not the whole kit and caboodle either.

The changes from Obamacare, good and bad, are marginal. It will not fundamentally change America….

But if you already believe something crazy — that Obamacare will destroy America — then it’s not additionally crazy to favor drastic, dangerous action to stop it.

Sarah Jones at Politicus USA: From Hostage Takers to Buffoons, House Republican Ineptitude Heads for Default.

Even a short term debt ceiling agreement is up in the air now. Not the actual debt ceiling limit, but a short term agreement. We can’t even do that now, if Robert Costa’s readings are accurate.

Costa tweeted, “One of my best House R sources thinks Boehner may, just may, be able to get votes for short-term DL ext, but even that is up in air” [….]

If you’re wondering how Republicans can be so out of it when the polls keep instructing them otherwise (as if the ONLY issue here is their own political survival, forget the people or this country), perhaps this level of utter cluelessness will be informative. When asked if the Republicans have their next move mapped out and if Boehner has any legislation drawn up regarding the debt ceiling, “Negatory,” Representative Pete Sessions replies. You see, it’s all about “messaging”. “We’re going to keep with our great, positive attitude and tell the president, ‘you’ve got to sit down and negotiate.’”

So, their great positive attitude involves tanking the economy and shutting down the government because they lost an election. Huh. Also: Only in Republican world is holding a gun to the country’s head before being willing to “talk” an act of good faith.

Republicans don’t understand this president very well at all, but then, we tend to project our own values onto others so this is understandable. They never should have threatened the country. They could have threatened anything but the American people and the democratic process, and this President wouldn’t have felt compelled to take a stand.

Boehner Onion

It’s really getting to be a cliche to point out that reports of Republican behavior are for real and not from The Onion. But seriously, it’s hard to believe The Onion can keep finding ways to exaggerate these people’s insanity. Apparently there was “outrage” after this 2011 Onion story; but does it actually seem crazy two years later to claim that what the Republicans are trying to do is going to hurt–even kill–some children?

A few more comments on the hostage situation from various pundits:

Washington Post Editorial Board: The House GOP has nothing to show for its government shutdown.

WHAT HAVE House Republicans managed to accomplish in a week of government shutdown?

Damage the livelihood of millions of Americans? Check. Government secretaries, food-truck operators, cleaners who work in motels near national parks: They’re all hurting.

Waste billions of taxpayer dollars? Check. It costs a lot to shut agencies, Web sites and parks, and it will cost a lot to reopen them. Meanwhile, the House has voted to pay the salaries, eventually, of hundreds of thousands of employees whom it has ordered not to work. That’s an odd way to manage an enterprise.

Interfere with key government operations? Check. The National Transportation Safety Boardcan’t investigate an accident last weekend on Metro’s Red Line that claimed the life of a worker. That could make future accidents more likely. On the other side of the world, U.S. allies from Tokyo to Singapore are wondering whether they can rely on a nation whose president has to go AWOL from a key summit meeting in their region.

Rattle the markets, slow an economy in recovery, interrupt potentially lifesaving research at the National Institutes of Health? Check, check and check.

Derail the hated Obamacare? Ch . . . — oh, no, wait a minute.

Because it’s not really about “Obamacare.” It’s about making government itself completely dysfunctional. I keep thinking about Dakinikat’s post yesterday and the pieces she quoted by Jonathan Chait and The Economist. Have we really reached the point where the gridlock in DC is so bad that our form of government is in danger of collapse? And what can we do about it? In order to change our system of divided government, we would need to call a Constitutional Convention. Even if we could get to that point in this atmosphere, the final result could be a lot worse than what we have now. I really believe the only way to save our form of government is to somehow throw all the Tea Party Republicans out of it. Is that possible?

Alex Altman at Time: Boehner Holds Weaker Cards In High-Stakes Political Poker

President Barack Obama says he will not pay House Republicans a ransom in exchange for re-opening the government or raising the debt ceiling. House Speaker John Boehner insists he doesn’t have the votes to do either without any White House concessions.

Both men are bluffing. And while Obama’s play is a risky one, Boehner’s bluff is worse: it just doesn’t look very credible.

In a Sunday interview with ABC News, Boehner said the U.S. faced the specter of its first ever federal default if Obama didn’t cave to GOP demands. “There are not the votes in the House,” Boehner declared, to pass a so-called “clean” bill to reopen the government. “The votes are not in the House to pass a clean debt limit,” he added. “And the president is risking default by not having a conversation with us.”


These kinds of threats have worked for Boehner before,

But this is now a less credible threat. A few days before Boehner went on TV to talk tough about the threat of default, he was reportedly confiding to fellow Republicans that he would never allow it. Failure to hike the debt limit would unleash a chain of economic calamities, if not the first ever federal default. Boehner doesn’t want that to be his political epitaph.

To be sure, there are plenty of House Republicans who are willing, if not eager, to hold the line. But if the votes aren’t there for clean bills, that’s only because Boehner hasn’t allowed them to come forward. As Speaker, he and his leadership team control the floor. A clean bill to reopen the government, and a companion measure to lift the debt limit, would draw unanimous or near-unanimous support from the chamber’s 200 Democrats; all but five are on record supporting such a vote. Nearly two-dozen Republicans are also publicly on board. Some say the number is far higher. If Boehner let a clean funding bill hit the House floor, “it would probably get 300 votes,” New York Representative Peter King, a Republican who has been critical of the party’s shutdown strategy, told TIME last week.

Jamelle Bouie at The Daily Beast: Five Boehner Quotes—From One Interview—That Explain Everything.

To watch John Boehner speak Sunday—in a segment with ABC’s George Stephanopoulos—was to watch him issue talking points from another dimension, where legislative hostage-taking is routine and the American public is eager to threaten the full faith and credit of the United States. The interview was rife with dishonesty, but there were five statements—in particular—that stood out for their recklessness and/or brazen disregard for the truth.

I won’t excerpt any more from this one. You need to go read the whole thing–it’s not long.

In my opinion, it’s an open question whether the insanity of the Tea Party can be beaten. Certainly, our democratic Republic cannot survive much more of this. The best solution would be for the Democrats to really hold their ground this time and for President Obama to invoke the 14th Amendment and abolish the debt ceiling unilaterally. But do the Democrats and Obama have the guts to do it? We’ll just have to wait and see.

Now it’s your turn. What stories are grabbing your attention today? Please post your links on any topic in the comment thread.


Wednesday Reads: Beg, Borrow, Steal…Maybe Blackmail Will Do?

wake the hell upGood Morning

My fingers are tingling like they are being poked with hundreds of little pins, and since we have some rain coming towards Banjoville…my arthritis is acting up as well. So, this morning’s post will be more along the lines of a link dump.

In this morning’s Orlando Sentinel, there is an op/ed that is outright propaganda, check it out: Editorial calls on Congress to approve chained CPI

But the president’s proposal deserves bipartisan support, no matter what the polls say. It’s an incremental yet meaningful step that acknowledges the need to include Social Security — the biggest federal program at more than $800 billion a year, and growing — in any balanced deficit-reduction plan.

Obama and Congress have cut deficits, but not enough to keep the national debt from growing as a share of the U.S. economy. They’ve largely left entitlement programs, including Social Security, off the table.

More debt means higher interest payments, less money for investments that would grow the economy, and more vulnerability to foreign creditors.

The president’s proposal would tie increases in Social Security and other benefit programs to an inflation index known as the “chained CPI” — a name only a bureaucrat could love. Many economists say the chained CPI is more accurate than the government’s current index, which overstates inflation.

Tying Social Security to the slower-growing inflation rate would reduce total annual benefits for the average 65-year-old retiree by only $50, though the reduction would compound over time to $1,147 a year by the time the retiree hit 85.

But the president’s proposal would prop up benefits for the poorest and oldest retirees. Targeting help to seniors in most need beats sticking with a system for everyone that overstates inflation and adds billions to the government’s bottom line.

Switching to the chained CPI would save at least $130 billion in Social Security payments over 10 years. It also would improve the fiscal fitness of the program, which is now paying out more in benefits than it is collecting in payroll taxes. The money to close the gap gets borrowed, which means that — contrary to claims from some advocates — Social Security adds to the deficit.

The chained CPI could save another $200 billion or more over the next decade outside of Social Security. How? By slowing spending growth in other benefit programs. And by adding to revenues by gradually moving more Americans with increasing incomes into higher tax brackets.

Obama is taking flak within his party for his proposal. For liberal Democrats, Social Security cuts are as bad as tax hikes for conservative Republicans.

But the president says he won’t go through with the switch unless Republicans go along with more tax increases. The GOP should be willing to close loopholes for corporations and the wealthy — especially if it’s in return for the kind of entitlement reform that Republicans have demanded from Obama.

There are a few comments already pointing out how stupid the author of the editorial is, you know…since Social Security is not a “debt” and all that shit.

sorgfelt at 5:47 AM April 10, 2013Social Security is an independent fund supplied solely by our contributions, and does not add to our national debt in any way, shape or form.  The author of this piece is either grossly uninformed and/or a pawn of the corporate entities who want to cut the business owners’ part of the contributions to Social Security.  It is utterly despicable that this article could be written and anyone could be led to take it seriously.There is one connection to the national debt: Congress has seen fit to borrow money without interest from Social Security to pay for our stupid, illegal wars.  That in itself is a travesty.  And to use that as an excuse to raid Social Security is despicable.
Florence Perry at 5:42 AM April 10, 2013It infuriates me when people call Social Security “an entitlement”.  It is not.  We put our hard earned monies into it, and it is our monies.  The government decided to borrow that money and now has to pay it back and called it “an entitlement” so they can cheat us out of our money.  You should get your facts straight Sentitnal (sic).

Madamab has a post up this morning that ties into this so be sure to stop over at Widdershins: Activist/Feminist Wednesday: Obama Goes After Social Security (And Women) | The Widdershins

Perhaps you don’t need math to be a politician these days? But there is some discussion as to whether you need it to be a scientist: Do you need to know math for doing great science? | The Curious Wavefunction, Scientific American Blog Network

There was a bit of a scare this morning, when an official tweet was sent accidentally by a town in Japan: Yokohama mistakenly tweets North Korean missile launch

Officials in the Japanese city of Yokohama were left red-faced on Wednesday after mistakenly announcing the launch of a North Korean missile to 40,000 followers on Twitter.

The city, south of Tokyo, prematurely fired its Tweet just before noon (0300 GMT), announcing “North Korea has launched a missile” with blank spaces to indicate the exact time.

“We received a call from one of our followers who had noticed the mistake. We had the Tweet ready and waiting, but for an unknown reason it was dispatched erroneously,” said a city official.

The city retracted the Tweet about 20 minutes later and apologised to followers of @yokohama_saigai, the official said.

Japan is on full alert ahead of an expected mid-range missile launch by North Korea, with Patriot missiles stationed in its capital to protect the 30 million people who live there.

Twitter is a big deal over in Japan, so this tweet was taken very seriously.

Meanwhile, over in Great Britain, History is getting an overhaul in their school systems, and it is not a good one, per the BBC:  Draft history curriculum ‘list-like and too narrow’

A draft history curriculum for England is “list-like”, “prescriptive” and omits “the histories of Britons who are not white Anglo-Saxons”, says a report.

The group, Curriculum for Cohesion, of teachers, academics and employers calls the draft “unteachable, unlearnable and un-British”.

They warn that if adopted the curriculum may alienate pupils from ethnic and religious minority groups.

I guess these people realize that History…will teach us nothing…/snark.

Makes me think of our very own GOP:

Clay Bennett: Intellecticide – Clay Bennett – Truthdig

Remember that event during the Occupy Wall Street protest, when the NYPD destroyed the Occupy Library? Well, they now have to pay damages. City To Pay $365,000 For Occupy Library – Business Insider

A New York City court has ruled that the city shall pay $366,700 for a destructive raid on Occupy Wall Street’s Zuccotti Park encampment.

Around 1 a.m. on Nov. 15, 2011, Mayor Michael R. Bloomberg ordered the NYPD to evict protestors — some of whom had camped there for almost two months — from Zuccotti Park in New York City’s Financial District.

The police threw away 5,554 books from the Occupy library and destroyed media equipment in addition to removing tents, tarps, and belongings.

The U.S. District Court for the Southern District of New York decided that the NYPD’s actions violated the protestors’ rights under the First, Fourth, and Fourteenth Amendments.

The city will pay:

  • $47,000 in damages and $186,350 in legal fees for The People’s Library.
  • $75,000 and $49,850 in legal fees to Global Revolutions TV for damaging their “computers, wifi hotspots and similarly related live-streaming equipment.”
  • $8,500 for trashing the bicycle-powered generators that protestors built to light up the park after police held their other generators.

Wonderful to see that justice prevailed in this case.

I have some movie links for you now. This coming week the movie Camille will air on TCM: Wednesday, April 17 @ 09:00 AM (ET)

Set photograph, George Cukor directing Robert Taylor and Greta Garbor. 1936

Behind-the-scenes photograph taken while shooting the film Camille, George Cukor directing Robert Taylor and Greta Garbor. 1936

I love this film, it is beautiful.

Mike Luckovich had a very sweet tribute to Roger Ebert:

Mike Luckovich: RIP Roger Ebert – Mike Luckovich – Truthdig

This next link is just about some interesting movie trivia:

8 Pseudonyms Famous Writers and Directors Used in Movie Credits | Mental Floss

However, one pseudonym that is missing is a favorite of mine, from the movie The Bank Dick:

The Bank Dick (released as The Bank Detective in the United Kingdom) is a 1940 comedy film. W. C. Fields plays a character named Egbert Sousé who trips a bank robber and ends up a security guard as a result. The character is a drunk who must repeatedly remind people in exasperation that his name is pronounced “Sousé – accent grave [sic] over the ‘e’!”, because people keep calling him “Souse” (slang for drunkard). In addition to bank and family scenes, it features Fields pretending to be a film director and ends in a chaotic car chase. The Bank Dick is considered a classic of his work, incorporating his usual persona as a drunken henpecked husband with a shrewish wife, disapproving mother-in-law, and savage children.

The film was written by Fields, using the alias Mahatma Kane Jeeves (derived from the Broadway drawing-room comedy cliche, “My hat, my cane, Jeeves!”), and directed by Edward F. Cline. Shemp Howard, one of the Three Stooges, plays a bartender.

In 1992, The Bank Dick was selected for preservation in the United States National Film Registry by the Library of Congress as being “culturally, historically, or aesthetically significant”.

Mahatma Kane Jeeves….what a riot!

Boston Boomer sent me this link last week:

Meet the Tarantula as Big as Your Face : Discovery News

It’s big, it’s hairy, and it’s venomous.

The newest spider to give arachnophobes the willies, a tarantula named Poecilotheria rajaei has been discovered on the island nation of Sri Lanka.

With a leg span of 8 inches (20 centimeters) and enough venom to kill mice, lizards, small birds and snakes, according to Sky News, the crawler is covered in subtle markings of gray, pink and daffodil yellow.

Here is a picture of this monster:

Oh boy!

In another link BB sent me, related to spiders….this one is so damn cool: A Golden Spider-Silk Textile | The Art Institute of Chicago

Strands of silk from over one million of Madagascar’s golden orb spiders (Nephila madagascariensis) were woven together to make this dazzling textile, the only one of its kind in the world. Completed in 2008, the panel’s story underscores the globalism that is characteristic of many textile genres in Africa. Created by Simon Peers and Nicholas Godley, the loan of this rare textile celebrates the opening of the Art Institute’s redesigned galleries of African art and Indian art of the Americas.

The idea of harnessing spider silk for weaving is an age-old dream that was first attempted in a methodical way in France in the early 18th century. In the 1880s, Father Paul Camboué, a French Jesuit priest, brought the dream to Madagascar. Intrigued by the strength and beauty of the silk produced by the island’s golden orb spider, he began to collect and experiment with it. In 1900 a set of bed hangings was woven from spider silk at Madagascar’s Ecole Professionelle and exhibited at the Exposition Universelle in Paris (today the whereabouts of those hangings are unknown). But the idea of creating an industry that could compete with Chinese silk (produced from silkworms) proved unrealistic.

Please go read the rest of this fascinating story at the link…and look at some of the photographs below:

SpiderSilk_lg

Colour of the Moment – Spider Silk Yellow Gold | Significant Colour

http://significantcolour.files.wordpress.com/2012/03/untitled-3-copy.jpg?w=370&h=

Spider silk cape goes on show at V&A | Art and design | guardian.co.uk

Golden spider silk cape

A model wearing the golden spider silk cape. Photograph: David Levene for the Guardian

It has taken eight years and more than a million Madagascar Golden Orb spiders to create a work of art “with the quality of a fairy story”. And it goes on display at London’s V&A museum this week.

Simon Peers and Nicholas Godley, a textile artist and a designer-entrepreneur respectively, have created a shimmering golden cape from spider silk, a fabric not woven in more than a century.

Golden spider silk cape at the V and A | Yes I Like That

Isn’t that spectacular?

I will end this post with a funny nature story…Scheming chicks blackmail doting parents for more food

Fledglings of a southern African bird species threaten suicide to blackmail their parents into bringing them more food, scientists said Wednesday. When hungry, pied babbler fledglings flutter from the nest to the ground, where predators roam, and start screeching to highlight their plight, said a study published in the British journal Proceedings of the Royal Society B. “This stimulates adults to increase their provisioning rates,” the science team wrote. “Once satiated, fledglings return to the safety of cover.” The strategy is dangerous, as the birds are not good flyers at this tender age and at particular risk of predators on the ground. But the short-term risk of being caught is probably lower than the long-term costs of being small and weak, said the paper. Pied babblers have high reproductive rates and competition for mates is high. Weaker birds are often kicked out of the nest by siblings, putting them at a huge disadvantage in the race for survival and procreation.

More information: The influence of fledgling location on adult provisioning: a test of the blackmail hypothesis, rspb.royalsocietypublishing.org/lookup/doi/10.1098/rspb.2013.0558

Now that is one ballsy move if you ask me!

So what are you reading about this morning?


Sunday Reads: Cuba, Castro, and the Idiots at CNN

ad24_3Good Morning

We have come to the end of spring break, it is amazing to me how fast time flies by…I have some interesting links for you, some of them I have saved for a little while, you may just want to come back to them during the day.

By the way, later tonight is the season premiere of Mad Men, I don’t know about you…but I sure am looking forward to it. ;)

Y’all know that CNN made the huge mistake of sacking Soledad O’Brien last month. The Guardian had an article about her last appearance on the network:

CNN’s Soledad O’Brien signs off with call for ‘tough conversations’

CNN anchor Soledad O’Brien at belated 60th birthday celebrations for Chaka Khan. Photograph: Startraks Photo / Rex Features

CNN host Soledad O’Brien signed off on Friday with a call for the network not to back away from “tough and honest conversations”.

O’Brien, who has built a reputation for hard-hitting interviews, said on the last edition of her morning show, Starting Point, that “facts matter”.

The new CNN boss, Jeff Zucker, cancelled O’Brien’s show, which has performed poorly in the ratings, and announced on Thursday that it will be replaced by a new show hosted by Chris Cuomo and Kate Bolduan.

In a short closing monologue on Friday, O’Brien said CNN had given her the chance to cover some of the biggest stories of our time and said she would continue to focus on “good journalism”.

She said: “My tenure at the helm of this show ends today, and I’m not going to be covering daily news at CNN after today. Over the last decade at CNN I’ve had a really great chance to cover some of the biggest stories, I think it’s fair to say, of our time.”

O’Brien recalled when she and a CNN team received a standing ovation at the airport in New Orleans after covering hurricane Katrina.

“So I think if I’ve learned anything over the past year it’s that facts matter,” she continued. “And we shouldn’t be afraid to have tough and honest conversations and maybe even argue a little bit when there’s a lot at stake, and yes, Governor Sununu, I am talking to you.”

You remember that interview don’t you? Soladad kicked Sununu’s ass! O’Brien told the Guardian that CNN did not provide a lot of support for her show Starting Point. They did not get a lot of promotion and were not fully staffed. No wonder, with CNN going down the shit bucket of news. In fact, you need to see this bit Jon Stewart did this past week:

Jon Stewart Tears Apart CNN: Neither Left Nor Right, But On A ‘Steady Spiral Downward’

Stewart then turned to CNN, a network that is neither leaning left nor right, but is instead on a “steady spiral downward.” He took on the new approach of CNN executive Jeff Zucker to the news, mockingly saying things like “I love brunch! Who doesn’t love brunch? That’s news!”

Stewart brought up some graphic faux pas of CNN, including (for some reason) a CNN personality standing in the middle of a virtual field of goats. And most egregiously of all, CNN showed off a live recreation of the Jodi Arias crime scene, complete with dead boyfriend in a pool of blood on the floor.

Of course, new changes don’t come without new show experiments, and following the success of The Five and The Cycle, CNN is testing out a new primetime show called (Get To) The Point. Stewart figured CNN must have “mistook what people are constantly yelling” at the screen for a show pitch. He showed clips of the show’s hosts talking about important subjects like lizard people and vegetarians who eat bacon.

What Stewart loved the most about the show was that when promos for this new program appear on the screen during other CNN shows, it looks like a subtle jab at whoever’s talking to get to the damn point already.

Go watch the video clips…my gawd, what shit CNN is pulling out their ass now a days!

Now, this next article is something I also saved from a while back, funny how it has caused quite a controversy of late….anyway, you know that my father’s family came from Cuba back in the late 1800’s. Here is a photograph of the town Marti City, in Ocala, Florida where my great-great grandfather had one of his cigar factories. In 1890s, cigar industry flourished, died in Ocala

A horse-drawn trolley, shown in Marti City, ran south from Ocala’s railroad station along North Magnolia to Broadway, turned west and followed Broadway to haul passengers and freight to the cigar factories at Marti City.

Well, I usually share links about Cuba with you all, and this article was one I was looking forward to sharing. For Blacks in Cuba, the Revolution Hasn’t Begun by Roberto Zurbano

Alex Webb/Magnum Photos

“Havana, 2013” More Photos »

CHANGE is the latest news to come out of Cuba, though for Afro-Cubans like myself, this is more dream than reality. Over the last decade, scores of ridiculous prohibitions for Cubans living on the island have been eliminated, among them sleeping at a hotel, buying a cellphone, selling a house or car and traveling abroad. These gestures have been celebrated as signs of openness and reform, though they are really nothing more than efforts to make life more normal. And the reality is that in Cuba, your experience of these changes depends on your skin color.

Please, before you do anything else go and read that editorial…because it was written by a man who was fired for saying what he felt was true. Check it out: Writer of Times Op-Ed on Racism in Cuba Loses Job

The editor of a publishing house in Cuba who wrote a critical article in The New York Times opinion section about persistent racial inequality on the island, something revolutionaries proudly say has lessened, has been removed from his post, associates said on Friday.

The author, Roberto Zurbano, in an article published March 23, described a long history of racial discrimination against blacks on the island and said “racial exclusion continued after Cuba became independent in 1902, and a half century of revolution since 1959 has been unable to overcome it.”

On Friday, The Havana Times blog reported that Mr. Zurbano had told a gathering of Afro-Cuban advocates that he had been dismissed from his post at the publishing house of the Casa de las Americas cultural center, leaving the implication that the dismissal was connected to the article. Other associates said Mr. Zurbano told them he had been removed but would continue working there.

There is a lot more to it than there appears to be…

Reached by telephone in Havana, Mr. Zurbano would not comment on his employment. “What is The New York Times going to do about it?” he asked. He angrily condemned the editors of the opinion section for a change in the headline that he felt had distorted his theme.

The article’s headline, which was translated from Spanish, was “For Blacks in Cuba, the Revolution Hasn’t Begun,” but Mr. Zurbano said that in his version it had been “Not Yet Finished.”

“They changed the headline without consulting me,” he said. “It was a huge failure of ethics and of professionalism.”

Eileen Murphy, a spokeswoman for The Times, said the editor stood by the article’s preparation.

“We worked very hard to ensure that the wording in the piece was translated properly and accurately reflected the writer’s point of view,” she said in a statement. “There were numerous versions of the piece sent back and forth, and in the end, Mr. Zurbano and our contact for him (who speaks fluent English) signed off on the final version.”

“We knew,” she added, “that Mr. Zurbano was in a sensitive situation, and we are saddened if he has indeed been fired or otherwise faced persecution, but we stand by our translation and editing, which was entirely along normal channels.”

Believe me, there is an underlying racism within the Cuban community and to say there isn’t is bullshit. Yes, it is taboo to speak of it too. However, there is a history in a little town in Florida of Cuban whites and blacks coming together to fight for labor rights.

Restaurant in Havana, note the Albinos allowed sign.

Restaurant in Havana, note the Albinos allowed sign.

My great-great grandfather Nicholas Santana owned a cigar factory and was partners with a black-Cuban named Sorondo who had connections with Jose Marti.

Sanborn Fire Insurance Map of 1895, Ocala FL, Marti City. My great-great grandfather's cigar factory is on the bottom left corner.

Sanborn Fire Insurance Map of 1895, Ocala FL, Marti City. My great-great grandfather’s cigar factory, Santana, Sorondo & CO., is located on the bottom left corner.

In Ybor City, Florida…you could find a small pocket of intelligence within the Southern land of Jim Crow, for racism was not prevalent in that little area of Italian, Spanish, Black, White immigrants who mostly worked for the many cigar factories.  There were many Afro-Cubans, both women and men, involved in the cigar factory labor strikes in Tampa, Florida, many years ago…they were fighting with their white brothers and sisters for workers rights.

Revolution is part of the Cuban culture, and I do believe that it is fair to say that for the Black-Cuban, the revolution is not finished. It just barely started and has been put on hold, it needs to get back in gear. Racism is alive in Cuba, there is no doubt about that. And the fact that Zurbano was fired says a lot about how things are handled in Cuba.

Speaking of Cuba, there was this bit of celebrity down there: Useful Idiots: Beyoncé And Jay-Z Ignore Cuba’s Racism With Havana Trip

This week, superstars Beyoncé and Jay-Z celebrated their 5th wedding anniversary with a trip to Cuba or, as the informed refer to it, “the island prison.”

While dining, partying, and enjoying the best Havana has to offer, Beyoncé and Jay-Z not only legitimize and support the repressive regime, with both their presence and their cash, but turn a blind eye, cruelly, to the perils and languishing of the Cuban people.

Both stars are proud African-Americans — yet, curiously, chose to vacation in a country notorious for relegating its black population to second-class status, or worse.

It is no surprise that many of Cuba’s top dissidents are Afro-Cubans. Did Sasha Fierce and Jigga Man find time to meet with these brave souls, or with their families? Did they mention them? Did they even think of them?

Of course not! This was not a trip to discover truth…or to learn about history or even music. Take a look at the link for a list of Afro-Cubans advocates who have either been imprisoned or killed for speaking out against the racism.

But why stop Cuba’s racism, and its atrocious human rights record, from getting in the way of a good time? After all, Jay-Z is the ‘artist’ who famously raps: “Welcome to Havana, smoking cubanos with Castro in cabanas!”

All Jay and “B,” useful idiots extraordinaire, seem to hear when visiting Cuba is: “Extra sugar on that mojito, señor?” Never mind the life-long plight of the Afro-Cuban waiter serving that drink, who casts a longing, hopeful look in their direction, only to be met with an aloof, distant smile from the two callous multi-millionaires who, while sharing his skin color, could not care less about his plight.

The photo-journalism report that went with the Zurbano op/ed can be seen here: The Ambiguous Island – Slide Show – NYTimes.com Again, I urge you to go take a look at those images.

Now, one more link out of that little Island nation down south…this made me laugh a little, Fidel Castro to North Korea: Chill

Cuba’s seemingly immortal former leader Fidel Castro, who knows a thing or two about threats of nuclear destruction, is asking both Kim Jong-un and Barack Obama to think before they do anything stupid. “The Democratic People’s Republic of Korea was always friendly with Cuba, as Cuba always has been and will continue to be with her,” Castro wrote in his first state media op-ed in almost nine months, but “this is one of the gravest risks of nuclear war since the October Crisis in 1962 involving Cuba, 50 years ago.”

“Now that it has demonstrated its technical and scientific advances, we remind it of its duties to other countries who have been great friends and that it would not be just to forget that such a war would affect in a special way more than 70 percent of the world’s population,” wrote Castro, who’s apparently gone soft in his old age.

While the situation in the Koreas is “incredible and absurd,” he added, he warned Obama that if bombing breaks out, he “would be buried by a flood of images that would present him as the most sinister figure in U.S. history. The duty to avoid [war)]also belongs to him and the people of the United States.”

It seems like some sort of SNL skit, doesn’t it? Castro calling North Korea “incredible and absurd.”

Okay, you want real absurd? In Tennessee some asshole is putting forward a law that makes welfare payments dependent upon the student’s grades. Tennessee Gets Closer to Passing Bill That Ties Welfare to School Grades

A Tennessee bill that would cut welfare benefits of parents with children performing poorly in school cleared committees of both the House and Senate last week.

The measure takes “a carrot and stick approach,” one of the sponsors of the bill, Rep. Vance Dennis, R-Savannah, told the Knoxville News and Sentinel.

Seth Freed Wessler summarized the bill last month on Colorlines.com:

A Tennessee lawmaker introduced legislation last week to stop welfare payments to parents if their kids get bad grades in school. The sponsor, State Senator Stacy Campfield said, “One of the top tickets to break the chain of poverty is education.” But he added, “We have done little to hold [parents] accountable for their child’s performance.”

The bill would chop nearly a third of family’s Temporary Aid for Needy Families benefits, already a pittance, if their child fails to pass state competency tests or get’s held back. How exactly the threat to make poor people poorer will improve educational outcomes isn’t at all clear.

The bill is sponsored by Sen. Stacey Campfield, R-Knoxville, and Rep. Vance Dennis, R-Savannah. It calls for a 30 percent reduction in Temporary Assistance for Needy Families benefits to parents whose children are not making satisfactory progress in school, the Knoxville News and Sentinel reported.

You know what? My kids are not from a “broken” home, and both their parents and grandparents are college graduates…and they struggle in school. They do not get A’s and B’s…so this would be a disaster in terms of assistance if we were a “needy” family. I mention my kids performance at school because even with positive backgrounds and no worries about food and a place to sleep, a kid can be a disappointment when it comes to their grades. This is a horrible law…damn these GOP assholes.

In another education link: Can Computers Teach Students to Write Better?

Bet you can guess the answer to that.

Alright, moving on…Juan Cole had an excellent post this past week: Congress Obsessed with American Muslims, Neglects real threat of White Supremacists | Informed Comment

The shooting of Kaufman, Texas district attorney Mike McLelland and his wife Cynthia remains a mystery. But investigators are increasingly looking into a cell of extremist white terrorists as the suspects. Two months ago, a county assistant district attorney, Mark Hasse, was murdered not far from his office at the court. (I used the term extremist white terrorists because that is what they are, but usually the American press only describes foreigners and Muslims as terrorists, while calling whites “extremists.”)

Likewise, a gang of white terrorists is suspected in the recent slaying of the head of Colorado’s prison system.

Rep. Peter King (R-NY) and other Islamophobes in Congress, seeking to look good to campaign donors who hate Muslims, has conducted several hearings on the alleged increased radicalization of American Muslims. Sociologists don’t find evidence of such a thing; American Muslims on the whole are relatively well-integrated into US society and are disproportionately well off and pillars of the society. The hearings are a form of McCarthyism.

No one was killed or injured in the US in 2012 by terrorists of Muslim heritage, and only 14 Americans of Muslim heritage were even indicted for violent plots. Only one act of violence was traced to such a group, which produced no casualties.

Rep. Peter King is a big supporter of the old 1980s Irish Republican Army, which killed two Americans in a bombing at Harrod’s department store in London. The man’s feet won’t touch the ground when he walks because of the rivers of hypocrisy exuding from between his toes.

Read the rest at the link.

Like I said at the beginning of this morning’s reads, lots of links for you today. More after the jump.

Read the rest of this entry »


Sequestration Boogie

GeniusWell, it’s here.  It’s the day the Mayans predicted!!   It’s the beginning of the end of civilization in the Americas! Sequester Disaster Day is here! Well, it’s here for those of us that like to drive on roads and across bridges.  It’s here for those of us that will rely on social security or medicare this month or shortly.  It’s here for those of us that have kids in schools or would like to go to university.  It’s here for those of us that would prefer to live in a civilized country instead of The United States of Mississippi. For politicians and punditry in the beltway, it’s just another ball where they get to show off their designer formal wear and fancy dance steps.

As the automatic across-the-board spending cuts are set to take effect today and as President Obama meets at the White House with congressional leaders, we have to get this off our chest: This has been an absurd week. Today’s White House meeting is coming only at the last second; there’s been no sense of urgency, no negotiating, and Congress has left town; and, when you think about it, this hasn’t even been a true budget showdown. Given the lack of urgency and negotiating, it’s hard not to conclude that — deep down — plenty of folks on both sides of the aisle are OK with having these cuts take place, at least in the short term.

That’s from Chuck Todd et al.  I agree.  None of this makes sense if you think of economic policy or actually the idea of governing a country efficiently.  I have decided that the only thing Washington cares about is the political dance and political boogie surrounding the process and not what actually happens to the nation. For some reason, these cuts play in the beltway.  In that vein, Dave Weigal thinks Obama is winning the process cotillion.  Will it’s good some one is winning because there are certainly going to be about 320 million losers out here in the great fly over that exists behind Washington DC and Manhattan.

Republicans have one goal, running through all of these negotiations. They don’t want sequestration to be replaced by tax revenue. Any tax revenue. Forcing the president to swallow $85 billion in cuts this year would do that. They’ve got no obvious alternatives.

But a plan like this exposes a quirk of Obama-era fiscal hawksmanship. Republicans want specific cuts. Some of them—total repeal of Obamacare!—they’ll put on the record. The rest of them, they try to put on the White House. As soon as the “supercommittee” failed and sequestration looked real, it became “the president’s sequester.” The 2011 debt-limit deal delayed real action until after the 2012 election, betting $1.2 trillion of chips on its results and giving them to the president. Even the first great structural victory of the Tea Party, the ban on legislative earmarks, handed more clout to the White House. “The power to make thousands of spending decisions, on everything from which flood control projects will be funded to how spending on military bases will be distributed, to President Obama,” warned two political scientists at the time. Republicans ignored those particular political scientists.

Vote by vote, accidentally, Republicans are endorsing an imperial vision of the presidency. Perhaps they’re picking this up by osmosis. The default position of the punditocracy is that the president must lead. The lazy pundit invokes Harry Truman’s desk ornament, “The Buck Stops Here,” as a totem of great wisdom. Brendan Nyhan, who isn’t lazy, calls this “the Green Lantern Theory of the Presidency,” after the D.C. Comics superhero and his ring that runs on willpower. Bob Woodward offered a sterling example of the theory this week, when he suggested that the president’s willingness to obey the Budget Control Act (the law that mandates sequestration) was “madness.”

See, I actually think they all must want all these cuts.  They are so far removed from any impact that any of this would actually have that they’re just ignoring it.   As a matter of fact, the similarly out of touch punditry likes the idea of it too.  Let me offer of this from Ygelasias:”A Cheer or Two for Sequestration.

But on the merits it seems to me that while sequestration is hardly optimal budget policy, it really isn’t all that bad in the scheme of things, and really going through with it would be better than repealing it. The key reason is that fully half the cuts are cuts to “defense” spending, and yet nobody from either party is seriously trying to maintain that America will be left defenseless in the wake of this reduced military spending. The specific sequestration mechanism is clearly awkward and clumsy, but again nobody’s saying the Mexican army is going to come swarming over the border to reconquer Santa Fe, that the Taliban is now going to be able to outspend the Pentagon, or that America’s NATO allies are now left unable to fend off a Russian invasion. That’s half the cuts with basically zero real public policy harm.

So then you look at the domestic side. Your basic transfer payments to poor people are spared, your transfer payments to the elderly are basically spared, and then everything else gets cut willy-nilly. That leads to some real policy harms. Valuable research grants are going to not happen. We’ll see some real bottlenecks at regulatory agencies. But obviously there’s some waste and fat in this domestic discretionary spending.

Long story short, if you’re a defense dove like me and have a nonutopian view of the domestic discretionary budget, then this looks like we’re mostly talking about harmless spending cuts.

This from a man who had to get a wife from an on line dating service which is basically the equivalent of a mail order bride.  How much do you have to hate yourself to troll around online for an equally desperate person?

Let me just return to the economic impact of all of this.

Yes, the across-the-board spending cuts will lead to hundreds of thousands of job losses and a fiscal drag of 0.6 percent for 2013, according to the forecasting firm of Macroeconomic Advisers. Mostly, though, the rub is the timing and the inartful nature of the cuts.

“It would clearly be preferable to have a more orderly process for fiscal adjustment than the indiscriminate effects of sequestration,” wrote Macroeconomic Advisers in a recent research note.

The inopportune moment of sequestration — hitting just as the economy shows bright spots — will create a drag on the economy in a slow-motion manner. First, the furlough notices will go out in March to federal employees, the majority of whom live outside of the Washington metro area. Unemployment checks will drop as early as April for the long-term unemployed who receive the federal benefit checks.

States eventually will have to decide how to cut programs for low-income or vulnerable people that are funded through federal grants, such as child-care assistance, nutrition programs for women and children, mental-health services, and meal programs for senior citizens.

If Congress keeps the sequester cuts in place for a few months, then the economy will start to feel the effects. Federal workers furloughed for as many as 22 days between mid-April, when the furloughs are expected to begin to occur, and the end of the fiscal year will face a pay cut of as much as 20 percent. This will have ripple effects throughout the economy on consumer spending as well as state income and sales taxes.

By July, August, and September, the impact of sequestration should be fully felt. “We’re not going to go into a downward spiral overnight, but the spending cuts will build, and as they build, the effects will become noticeable,” says Nigel Gault, the chief U.S. economist of IHS Global Insight.

Already, the economic data showed a dip in federal-government spending for defense in the first quarter, a reaction to the impending cuts.

That is the real takeaway of the sequester and its economic impact. It will not hurt the economy immediately, but it still serves as a reminder of the power the federal government holds over the economy. Even if the government cannot enact policies to boost growth, it certainly can hurt the long-term prospects.

I’d really like to know why politicians these days are united in making most people’s lives worse off while maintaining things like preferable tax treatment for people that are already better off than nearly 99.9 % of the people living on the planet?   The only thing I can figure out is that none of this impacts any of them so they could care less.  It’s not about what happens to the nation or to its people.  It’s like they’re teenagers at a country club dance. The only thing that matters is who dances with who and how they each will be perceived in the outfit they’ve chosen.  Meanwhile, what will be the cost to the country in the eventual crime and social unrest?  Ah, who cares, just buy stock in the latest company that runs the privatized jails.  It’s a sure winner.

 


The Sequestration Blues: Part 2 Pete Peterson Creates a Crisis

Web-caphill01-0212Ben Bernanke joined the chorus of economists concerned about the impact of the sequester on the sluggish recovery.  This is not the first time the Fed chair has commented on misguided and dysfunctional Fiscal Policy in our country.

Federal Reserve Chairman Ben Bernanke warned Congress risks slowing the economy by allowing $85 billion in automatic spending cuts to be triggered on Friday, arguing they should be replaced with more deliberate, long-term cuts.

In prepared testimony for the Senate Banking Committee, Bernanke argued the sequester would pose a “significant headwind” to the economic recovery.

 “Given the still-moderate underlying pace of economic growth, this additional near-term burden on the recovery is significant,” he warned.Bernanke did not offer an opinion on whether tax hikes should be included as part of a replacement bill, and he did not call for any specific entitlement reforms.

Meanwhile, the White House released reports on how the expected cuts will impact states.  This undoubtedly will trigger more Republican whining on how mean the President continues to be to them as they continue their role as economic agents of chaos.

In Kentucky, home of the Senate Republican leader, Mitch McConnell, residents woke up on Monday to news articles like these: Widespread government spending cuts that begin on Friday will cost 21,484 jobs in the state. A construction project at Fort Knox will come to a halt. Three airports may endure partial shutdowns. Nearly $12 million in grants to public schools would be cut, putting at risk the jobs of 160 teachers and aides. More than 1,000 children would lose access to Head Start.

The White House released warnings for every state on Sunday in the hope that angry voters would besiege Republican lawmakers like Mr. McConnell and the House speaker, John Boehner, to stop the $85 billion in cuts, known as a sequester. President Obama wants to replace the sequester with a mix of tax increases on the rich and less damaging spending reductions. Republicans say they won’t consider any proposal that isn’t all cuts, so the sequester is all but certain to begin this week.

SequesterThere’s a fairly good list of the types of spending items that will be subject to cuts at the Bipartisan Policy Center.

Setting aside the magnitude of the reductions, the most difficult aspect of both the defense and domestic cuts is that they will be made across the board to all non-exempt government spending regardless of programs’ merits or demerits.*** The reductions designed by law are executed at the Program, Project & Activity (PPA) level of the federal budget, sometimes defined in appropriations bills and which often includes very granular categories of expenditures, such as “two Virginia Class Submarines” or “salaries and benefits” of a particular agency.

Absent a new law passed by Congress, the president has little ability to spare one type of spending and cut more from another. This creates uncertainty in both the public and private sector because there remains much to be determined about how PPAs will be defined by agency administrators and how the cuts will be implemented. This inability to plan is already acting as a drag on economic growth.

Furthermore, the immediate and across the board nature of the cuts, along with their magnitude concentrated in a seven-month period, will impair economic growth as the year progresses. At BPC, we estimated last year that the sequester would reduce 2013 gross domestic product (GDP) growth by half a percentage point, and would cost the economy approximately one million jobs over the next two years. More recent estimates released by the CBO and Macroeconomic Advisors have roughly confirmed these projections.

Given all of this, you would think that most congress critterz would want to avoid the sequester.  However, there’s that same group of tea party crazies that are so disconnected from an evidence-based reality  it appears congress will tank the economy rather than develop a cogent Fiscal Policy related to economic theory and the state of the economy itself.

The White House strategy on the sequester was built around a familiar miscalculation about Republicans. It assumed that, in the end, they would be reasonable and negotiate a realistic alternative to indiscriminate cuts. Because the reductions hurt defense programs long held sacrosanct by Republicans, the White House thought it had leverage that would reduce the damage to the domestic programs favored by Democrats.

It turns out, though, that the defense hawks in the party are outnumbered. More Republicans seem to care about reducing spending at all costs, and the prospect of damaging vital government programs does not seem to bother them. “Fiscal questions trump defense in a way they never would have after 9/11,” Representative Tom Cole, a Republican of Oklahoma, told The Times. “But the war in Iraq is over. Troops are coming home from Afghanistan, and we want to secure the cuts.”

Cuts this draconian have no place in a tottering economy. But, realistically, the only way to break this standoff is for the cuts to exact their toll on daily life, causing Republicans to face pressure from the public to negotiate an alternative plan with higher revenues in March as part of talks to finance the government for the final six months of the fiscal year.

It’s difficult to believe that so many folks can be so misguided about the need to drastically cut the budget. Read the rest of this entry »