Posted: September 8, 2011 | Author: bostonboomer | Filed under: Baby Boomers, Barack Obama, jobs, morning reads, psychology, Republican presidential politics, the villagers, U.S. Economy, U.S. Military, U.S. Politics, unemployment, WE TOLD THEM SO | Tags: Al Gore, Generation X, Generation Y, generations, Michael Brenner, Mitt Romney, narcissim, Obama jobs speech, Republican Debate, Richard Cohen, Rick Perry, The Hamptons |

Good Morning!! Last night we live-blogged the Republican debate, and it was borrrrrinnngggg! The less said about that debate last night the better. I can’t begin to pick the best or worst of that bunch. They were all horrible. For the media the big story in the debate was the conflict between Rick Perry and Mitt Romney. From CBS News:
The sparks flew early at Wednesday night’s Republican presidential debate, with onetime frontrunner Mitt Romney and the man who has overtaken him in the polls, Texas governor Rick Perry, trading barbs over their respective records on job creation.
Romney was asked about the fact that Massachusetts was ranked 47th in job creation during his time in office. After making the case that he had improved a bad situation, Romney took a subtle shot at Perry, who has been in politics since 1984, saying, “Look, if I had spent my whole life in government, I wouldn’t be running for president right now. My experience, having started enterprises, having helped other enterprises grow and thrive, is what gives me the experience to put together a plan to help restructure the basis of America’s economic foundation so we can create jobs again, good jobs, and compete with anyone in the world.”
Pressed on his reference to spending a “whole life in government,” Romney, who touts his experience in the private sector, added: “It’s a fine profession, and if someone were looking to say how can we restructure government, and which agency should report to which other agency, well, maybe that’s the best background. If you’re thinking about what it takes to reshape and update America’s economy, and to allow us to compete with China and other nations around the world, understanding how the economy works fundamentally is a credential I think is critical.”
Perry countered by saying that while Romney had a good record creating jobs “all around the world” in the private sector, “when he moved that experience to government, he had one of the lowest job creation rates in the country.”
“So the fact is, while he had a good private sector record, his public sector record did not match that,” the Texas governor continued. “As a matter of fact, we created more jobs in the last three months in Texas than he created in four years in Massachusetts.”
Whatever.
I don’t expect the President’s jobs speech tonight to be much more interesting, but we will be live-blogging it anyway. I do expect that after the Obama has nothing new to offer in his speech tonight that he will have “crossed the Rubicon,” so to speak. He will have passed the point of no return. He’ll be done, finished, caput. I’ll say again what I’ve been saying for awhile now: this president needs to follow in the footsteps of that other failed president, Lyndon B. Johnson. Realize it’s all over and withdraw from the race so someone else can try to beat whichever nutjob the Republicans nominate.
If Obama refuses to withdraw, I think the media should hold debates where the President debates candidate Obama from 2008. They could play clips of his campaign promises and then ask him to explain why he adopted the Bush policies instead. Now that might be an entertaining debate.
For a long time now, we’ve been seeing former Obot bloggers expressing their disappointment in the man they forced down America’s throat. Lately the disappointment and even disgust has been coming from more mainstream sources. It’s quite amazing really. Yesterday Richard Cohen, the aging WaPo columnist told the Villagers that Obama has lost the Hamptons.
Over the Labor Day weekend, I went to a number of events in the Hamptons. At all of them, Obama was discussed. At none of them — that’s none — was he defended. That was remarkable. After all, sitting around various lunch and dinner tables were mostly Democrats. Not only that, some of them had been vociferous Obama supporters, giving time and money to his election effort. They were all disillusioned.
Let me call the roll. I am talking about are writers and editors, lawyers and shrinks, Wall Street tycoons and freelance photographers, hedge funders and academics, run-of-the-mill Democrats and Democratic activists. They were all politically sophisticated, and just a year ago some of them were still vociferous Obama supporters. No more.
Frankly, I was surprised. The Hamptons are a redoubt of New York liberalism. It is to campaign money what the Outer Banks are to fishermen. I expected more than a few people to defend the president. No one did. Everyone — and I do mean everyone — expressed disappointment in him as a leader. In that area, they thought he was a bust. Some articulated detailed critiques — the nature of his stimulus program, for instance. They argued that more money should have gone into long-term infrastructure programs. Most, though, skipped the details and just registered dismay: Where had their “change” agent gone?
Today, Al Gore attacked Obama as anti-science and anti-environment.
Instead of relying on science, President Obama appears to have bowed to pressure from polluters who did not want to bear the cost of implementing new restrictions on their harmful pollution—even though economists have shown that the US economy would benefit from the job creating investments associated with implementing the new technology. The result of the White House’s action will be increased medical bills for seniors with lung disease, more children developing asthma, and the continued degradation of our air quality.
BTW, why hasn’t Gore been protesting outside the White House? Why hasn’t he been arrested? Wouldn’t that have a powerful effect? But I digress.
I want to highlight another elite critique–although this critic apparently saw through Obama early on. Yesterday, HuffPo published an outstanding post by Professor of International Affairs Michael Brenner, from the University of Pittsburgh: The Great Betrayal.
Barack Obama’s betrayal will resonate in history long after he has become just another name on the over-priced celebrity speaker circuit. It is a betrayal of far more than the youthful idealists and loyal progressives who put him in the White House. Obama has unmoored the Democratic Party from its foundations — philosophical and electoral. No longer is it an expression of the persons, programs and ideas that crystallized with the New Deal and which dominated the country’s politics for sixty years. Its future is that of ad hoc assemblage of hustlers and special interests whose sole claim to govern will be that it is not the amalgamated Tea/Republican Party. Obama, by this Oedipus-like act of patricide, has also betrayed the country that voted for an enlightened leader with a social conscience — a country in desperate need of the opposite to the fate he has laid on us.
Brenner argues that Obama’s extreme narcissism reflects our contemporary culture and that we’ll see more like him in the future {shudder}.
A narcissist has no convictions other than a total dedication to his own gratification. That gives him the freedom to maneuver without inhibition or conscience with the revered self as the only reference point. All expressions of ideals, of opinions, of intentions are implicitly so qualified. A complementary narcissistic trait is an ease with blurring the line between virtual reality and actual reality. Narcissists believe everything they say — at the moment they say it. Their declarations are sterile acts that have no pride of parentage nor can they expect honor from offspring. Witness Obama’s momentarily rousing support of a labor movement that he has scorned for thirty months. This is the same President who has launched an all-out campaign against public school teachers whose unions serve as the whipping-boy for all that ails American education. Narcissists take as given that they never dissemble or lie — because to do so is to acknowledge that reality has an intolerably constraining claim on them.
Of course, this last is a feature of contemporary American political culture in general. Facts are taken to be infinitely malleable, the very notion of truth is denied, speaking honestly is viewed as a lifestyle choice, and communication is more a matter of self affirmation than an attempt to convey knowledge, emotion or intention to somebody else. We have externalized navel gazing to a remarkable degree. One consequence is that public discourse is not anchored by common standards of honesty. It is a maelstrom of opinion, emotive outbursts, mythology and primal screams. Accountability, therefore, ceases to exist. There is accountability only where there are benchmarks of veracity, a reasonably rigorous monitoring of what is said and done, and a dedication on the part of some at least to ensuring that these requirements for a viable democracy are met. The abject failure of the media to perform these functions to any reasonable degree is a hallmark of our times. The think tank and academic worlds are little better.
This amorphous environment is narcissist friendly terrain. It is permissive of twists and turns, leaves no record of what was done yesterday or the day before — much less a year ago, and focuses only on the evanescent existential moment. Case in point is the remarkably uncritical coverage that Obama has received from the supposedly responsible media — especially those who claim to be upholders of the ideas and policies and interests that he has betrayed.
Wow! Can that guy ever write! As I said Brenner apparently saw Obama pretty clearly from the beginning. Here is an excerpt from a paper he wrote in October, 2008 Who is Barack Obama? In this piece, Brenner comments on Obama’s strange disdain for the political and cultural movements of the 1960s and 1970s.
Obama is not a philosophical progressive or a populist. Little if anything in the roiled public life of America seems to anger him or even irk him. At a time of multiple crises – constitutional, economic, and in the nation’s foreign dealings – he keeps his emotional distance. It is hard to imagine him getting worked up about any of the developments in American society or attacks on the body politic that so deeply dismay many others
In all respects, Obama is very much a man of his times. Weak or absent convictions, dispassion even about grievous wrongs, incapacity for moral outrage, quiet acceptance of the precept to put self first – if not quite the measure of all things, a natural egoism – all the hallmarks of contemporary American society. A man who amasses $10 million at a relatively young age after a late start and married to a woman with no inherited wealth whatsoever is a man who looks after himself. He has none of the idealism that exemplified his mother’s life, and for which she paid a steep price in comfort and security. Obama’s disparagement of the 1960s social movements that shaped his mother is revealing. It confirms the absence of serious interest in his own lineage. It hints at an introspection, such as it is, that has the instrumental needs of the present as its magnetic pole. It exemplifies a strongly ahistorical approach to the current world he occupies. Obama’s public remarks that the whole 1960s experience was a ‘psycho-drama’ is astonishing. He is what he is, where he is, as a direct result of the 1960s. The same holds for his wife and children. Indeed, he simply would not be were it not for the ideals and attitudes that became full-blown in the 1960s.
Perhaps at the root of Obama’s narcissism there is a sense of disgust about where he came from and who is is? Or maybe he disdains the movements of the ’60s and ’70s–the Civil Rights movement, the Women’s movement, the anti-war movement, the gay rights movement–because he has no convictions of his own and can’t understand why anyone would have convictions worth fighting for? I don’t know. I admit I simply do not understand the man. I just know he’s toxic for America and he was toxic for the Democratic Party, which, thanks to him, is now truly dead.
Interestingly, I came across another post at HuffPo today that address the issue of generational conflict: Generation X Simply Doesn’t Get it, by Joshua Grant. The post seems to have been written in reaction to the August unemployment numbers. Joshua longs for the days when America really was a great country that everyone could be proud of. His generation, Gen Y, has never experienced it, he says.
We, Generation Y, are a people who have lived through the need for “ADHD medicines,” “anti-depressants,” dysfunctional and broken families, a dot-com bust, financial collapse, failed government institutions, world hunger, terrorism, and international conflicts. Simply put, there has been little to celebrate in life since we’ve been around.
Some people think we are self-absorbed, concerned only with our interest, but can you blame us? The only glimmers of hope have been what personal achievements we have accomplished, of which we hang onto to for dear life. After all, in a country that is supposed to be so “great,” something doesn’t add up, and we want to know why? It’s not that we are conceited or don’t want to be a part of something better, but why get in the middle of a national mess that looks like a downward spiral?
Joshua is so young that lacks any historical perspective. He blames the problems he sees on Generation X. Poor Gen X! They grew up under Reagan and never experienced an America that produced prosperity for anyone but the rich. I’m not sure Joshua even knows about difficult passages that members of other still living generations experienced–like the Great Depression, World War II, Vietnam, racial discrimination and segregation. He wants to know why things are so terrible in this country right now. And if Gen X-ers aren’t going to do anything about it, he wants them to get out of the way so his generation can. To his parents’ generation, he writes:
Let me thank you on behalf of my generation, Y, for all that you have done, and now I ask that you step aside, open your books, and let us, with all the right questions, begin to solve the problems you can’t seem to figure out. It all starts with Why/Y.
If you won’t ask, we will.
I don’t want to be too hard on Joshua, because he’s obviously very young. But what on earth is his generation waiting for? Why aren’t they in the streets protesting already? Why aren’t they out there demanding jobs and a guarantee they’ll get social security in their old age instead of complaining about being stripped of hope? Why aren’t they protesting the wars, torture, and domestic spying? Why are they waiting around for someone else to do it?
In the comments on Joshua’s article, everyone hammers the baby boomers and says it’s all our fault. At least we tried to fight the powers that be. Our generation didn’t sit around waiting for our parents to change things. We fought for change and we had a powerful effect on the culture even though we couldn’t stop the growing corruption and corporatization of the government. What are these kids waiting for? I admit I just don’t get it.
Well, this post has turned into a bit of a rant, so I guess I’ll wrap it up. What are you reading and blogging about today?
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Posted: September 1, 2011 | Author: bostonboomer | Filed under: Economy, jobs, morning reads, Team Obama, U.S. Economy, U.S. Politics, unemployment | Tags: Barack Obama, baseball, Chris Christie, Congress, Eric Cantor, FEMA, Herbert Hoover, Jay Carney, John Boehner, Jon Huntsman, New Jersey, Red Sox, speeches, Tropical Storm Katia, Vermont flooding, Yankees |

Good Morning! So President Obama has set off another big battle in Washington by asking to give his highly touted jobs speech before a joint session of Congress next Wednesday–at the same time as the next Republican debate. For a guy who keeps harping on “bipartisanship,” you have to wonder why he did that. Maybe he’s trying to distract everyone from the fact that he has no new ideas about jobs? From Politico:
A presidential address to a joint session of Congress is usually one of Washington’s more dignified and predictable events — but President Barack Obama’s request to deliver a Sept. 7 speech quickly devolved into just another partisan pie fight.
Oval Office requests for a prime-time slot in the well of the House — whatever the motivation, topic or tenor of the times — are traditionally approved on a more or less pro forma basis. In fact, the official historian for the House of Representatives told reporters Wednesday that no such request has ever been publicly rejected.
But this is 2012 Washington, where the comforting little courtesies and old-shoe rituals that once kept bickering Democrats and Republicans from immobilizing the republic have been chucked in the constant quest for news-cycle leverage.
So Speaker Boehner told the President to move his speech to Thursday, and even on this, Obama caved. The speech will now be on Thursday. But why does the speech need to be given before a joint session of Congress anyway? Why does there even need to be a speech? Just DO something for Pete’s sake! All I can say is the White House gang had better come up with some startling ideas, or Obama is going to look incredibly lame. More talk about free trade agreements, patent reform, and extending the payroll tax holiday simply won’t cut it.
Chris Cilizza at the WaPo, discusses the likelihood that the WH scheduling was just a coincidence, as press secretary Jay Carney initially claimed.
when the White House announced today that President Obama would deliver his much-anticipated jobs speech on Sept. 7 at 8 pm— the exact same day and time that the 2012 Republican candidates are scheduled to debate in California — the idea that the timing was purely coincidental was, well, far-fetched.
Opinions varied on whether this was a good idea or not.
Some applauded the move as a sign of much-needed aggression from the White House “Whether intentional or not it sends a signal that the president and White House are coming out of their corner between rounds fists up, on their toes and ready to fight,” said Democratic strategist Chris Lehane.
But there were others within the party who worried that the White House’s scheduling gambit might backfire.
“It’s a bad idea [and] seems a little small,” said one Democratic consultant granted anonymity to speak candidly. “And it suggests perhaps his jobs plan wont be that appealing because now the coverage will be about the strategy and not the substance.”
Another senior Democratic operative suggested that scheduling the speech simultaneously with the GOP debate actually would muddy rather than clarify the contrast the White House is hoping for heading into 2012.
But none of this really matters now that Obama has caved to the Republicans, as usual; and now he has to compete with the opening of the NFL season.
Republican presidential candidate Jon Huntsman has released his economic plan, and it’s a doozy. He want to reduce the marginal tax rate to 23 percent, giving the richest Americans the lowest tax rate since the Hoover administration. And how does he propose to pay for this? Here’s how.
Huntsman says he will pay for this supply-side bonanza by eliminating all so-called “tax expenditures.”…. Huntsman either hasn’t thought through — or doesn’t want people to know — what eliminating all tax expenditures would actually mean. So let’s take a look at the official tax expenditure list and see what would happen if we got rid of all of them:
– All Social Security benefits would become taxable. Senior citizens that currently receive the average Social Security benefit as their primary income source (as is the case for most seniors) currently pay no income taxes on those benefits, but would under Huntsman’s plan.
– Many middle-class parents would lose child tax credits and tax benefits for education and child care that are more valuable to them than a tax rate cut.
– Huntsman’s tax plan would also eliminate the employer health insurance exclusion, which helps enable some 160 million Americans get coverage through their jobs.
– One of the most successful pro-work, anti-poverty initiatives, the Earned Income Tax Credit, would be abolished.
– Veterans pensions and disability benefits would become subject to tax, as would all military combat pay, military housing allowances and meals, workers compensation payments, public assistance benefits, and state foster care payments.
This is just a partial list of the harsh and/or bizarre consequences that would occur if all tax expenditures were eliminated to fund a huge giveaway to the very rich.
In line with this latest Republican proposal to screw the poor and the elderly, on Tuesday, the New York Times editorial page took note of “the new resentment of the poor.”
In a decade of frenzied tax-cutting for the rich, the Republican Party just happened to lower tax rates for the poor, as well. Now several of the party’s most prominent presidential candidates and lawmakers want to correct that oversight and raise taxes on the poor and the working class, while protecting the rich, of course.
These Republican leaders, who think nothing of widening tax loopholes for corporations and multimillion-dollar estates, are offended by the idea that people making less than $40,000 might benefit from the progressive tax code. They are infuriated by the earned income tax credit (the pride of Ronald Reagan), which has become the biggest and most effective antipoverty program by giving working families thousands of dollars a year in tax refunds. They scoff at continuing President Obama’s payroll tax cut, which is tilted toward low- and middle-income workers and expires in December.
Until fairly recently, Republicans, at least, have been fairly consistent in their position that tax cuts should benefit everyone. Though the Bush tax cuts were primarily for the rich, they did lower rates for almost all taxpayers, providing a veneer of egalitarianism. Then the recession pushed down incomes severely, many below the minimum income tax level, and the stimulus act lowered that level further with new tax cuts. The number of families not paying income tax has risen from about 30 percent before the recession to about half, and, suddenly, Republicans have a new tool to stoke class resentment.
Speaking of cold-hearted Republicans, you’ve probably heard about Eric Cantor’s demand that any Federal help given to those hit by Hurricane Irene must be offset by cuts in other areas. Unfortunately for Cantor, he was singing another tune in 2004 when his state, Virginia, needed help.
Not only that but suddenly one of the new Republican stars is in need of help and doesn’t want to worry about debt and deficits and cutting government. He wants help for his state right now.
New Jersey Gov. Chris Christie reacted angrily to a fight brewing in Washington over whether Hurricane Irene disaster aid may need to be offset by federal spending cuts.
“Our people are suffering now, and they need support now. And they [Congress] can all go down there and get back to work and figure out budget cuts later,” the Republican governor told a crowd in the flood-ravaged North Jersey town of Lincoln Park.
Christie said no such discussion was held when help went to Joplin, Mo., where a deadly May tornado damaged 7,500 homes.
“We need the support now here in New Jersey, and that’s not a Republican or a Democratic issue,” Christie said, according to NorthJersey.com
Another hurricane could be on the way. Tropical Storm Katia may be a Hurricane soon. It looks like this one may hit the Gulf coast, and quite a few oil workers are already being evacuated.
The Miami-based center said Katia was forecast to become a “major” hurricane with winds over 111 mph (178 kph) on Sunday, but it was still too early to tell whether it would threaten land.
At 5 p.m. (2100 GMT), Katia was about 1,285 miles (2.070 km) east of the Caribbean’s Leeward Islands. It was moving rapidly west-northwest and was forecast to turn northwest in a couple of days on a course that would keep it away from the Caribbean islands.
Of course it’s too soon to know for sure what will happen, but maybe Mayor Bloomberg should get busy preparing another evacuation plan.
Meanwhile, things are still really bad in Vermont.
Federal and state environmental teams on Wednesday investigated the extent of health risks related to damaged sewage and water treatment plants in more than a dozen Vermont towns where flash flooding has left thousands of people without electricity or potable water since Sunday.
Engineers from the federal Environmental Protection Agency and the state’s Department of Environmental Conservation visited several areas that had been cut off to assess the hazards, officials said. The teams were trying to determine the extent of damage to sewage and water plants in at least 13 towns, including chemical and other hazardous material spills and leaks, said Justin Johnson, deputy commissioner of the environmental department….
The Vermont National Guard continued to airlift supplies to residents in 13 towns stranded by washed out roadways, damaged bridges, fallen trees and mud. A helicopter from the Illinois National Guard joined the relief effort on Wednesday, helping distribute supplies, said Mark Bosma, a spokesman for Vermont Emergency Management.
By Wednesday night, crews had completed makeshift roads into all of the isolated towns, state officials said. They reached the last, Wardsboro, population 850, in south central Vermont, just before 6 p.m.
In a bit of good news, the Red Sox beat the Yankees last night, 9-5, and the Sox are now in first place by 1-1/2 games.
That’s all I’ve got for today. What are you reading and blogging about?
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Posted: August 29, 2011 | Author: dakinikat | Filed under: Economy, jobs, unemployment, voodoo economics | Tags: Alan Krueger, Dean Baker, Economists, jobs policy, labor market, Mark Thoma, unemployment |
In what I hope is not some symbolic hype, Alan Krueger–an actual economist and a labor one at that–was nominated by President Obama today to head the Council of Economic Advisors. He will replace Austin Goolsbee.
As the Wall Street Journal noted, Krueger’s scholarship suggests he will “likely provide a voice inside the administration for more-aggressive government action to bring down unemployment and, particularly, to address long-term joblessness.”
If his name sounds familiar, it’s because Krueger’s academic work has frequently played a valuable role in the political discourse. When congressional Republicans blatantly lied about the costs of a cap-and-trade plan, it was Krueger who set the record straight. When conservatives said in 2009 that slashing the minimum wage would boost the economy, Krueger explained why the opposite is true.
The economist also brings relevant experience to the table.
I’m hoping this finally brings the correct policy priorities and prescriptions to the table. We’ve had nearly three years of confused messages and results and the economy is clearly the worse for it. There’s an article up at The Guardian by economist Dean Baker that pretty much sums up all of my economic posts for the past few years. Obama never seemed to understand that high unemployment is a problem and never instituted any kind of policy to target the problem directly. He says he gets it now, but I’d just like to remind every one that he said he got it after the election that delivered the House of Representatives to the Tea Party terrorists and still has shown no sign that he understands that people expect bold fiscal policy in the face of low economic growth. All we keep getting is tax breaks for rich people and opposites day fiscal policy.
President Obama has discovered how serious the recession is. That’s what he told an audience in Chicago last week. To be fair, he was referring to revised data from the commerce department showing that the falloff in GDP was larger than originally reported.
But ridicule is appropriate. He and we knew all along how many people were out of work. The employment numbers told us the size of the hole and the desperate need for government action.
This sort of ridiculous comment, and President Obama’s weak response to the recession over the first two and a half years of his presidency, explains the tidal wave of scepticism facing his widely hyped upcoming speech on jobs after the Labor Day weekend. The list of remedies leaked ahead of time does little to inspire hope.
At the top of the list of job-creating measures is extending the 2 percentage-point reduction in the social security payroll tax. This provides no boost to the economy, since it just keeps in place a tax cut that was already there, but if the cut is allowed to end at the start of 2012, it will be a drag on growth.
As it stands, the social security programme is being fully reimbursed for the lost tax revenue, but there is always the possibility that Republicans will use this as a basis for attacking the programme. Given President Obama’s willingness to support cuts to social security, it is understandable that this part of his jobs agenda doesn’t generate much enthusiasm.
Baker goes on to call for a new CCC and explains why trade agreements, tax cuts to business yet again that undermine social security, and all the rest of the “jobs” agenda touted by the President aren’t going to do much of anything. Economist Nancy Folbre has a great piece of analysis up at the NYT explaining why letting this high level of unemployment go on for a period of time has an increasingly negative impact on the entire economy because things multiply over time. However, a new study covered by Folber shows that the unemployed just don’t sit around and act like they are on vacation. They create value by doing unpaid work. The same folks that think that the unemployed just lie around are the same ones that push the meme that homemakers spend their days eating bon bons and watching soap operas.
The overall increase in non-market work implies that household consumption among the unemployed fell less than market income, but it’s hard to put a dollar value on the unpaid work. When people make a voluntary decision to substitute time for money, we can infer something about the relative value they place on it.
But most unemployment is involuntary, and some unpaid work probably represents an effort to stay busy more than a significant contribution to household living standards.
The authors emphasize the relatively large impact of unemployment on unpaid work, in part because this is a new finding, and in part because it counters the wrong impression that, as Professor Hurst put it, the Great Recession was a Great Vacation.
But it is also important to note that most of the unemployed can’t allocate more of the free time they gain to productive uses, even if they want to. They lack the capital, land, tools and skills needed to flexibly shift from wage employment to production for their own use. Even when they can make a partial shift, their productivity is likely to be lower in unpaid work than paid work.
That’s why involuntary unemployment represents such a waste of human capabilities and loss of productive output for the economy as a whole.
So, what can Alan Krueger bring to the White House if the President will listen to this economist? This is economist Mark Thoma’s take on the appointee.
His most well known research is on the minimum wage and immigration, The work is somewhat controversial in that the results show small negative effects from raising the minimum wage and from increasing immigration. In my view that is a sign of an economist who is willing to let the evidence do the talking, and that is a good trait to have in this job.
He has also worked in many other areas, including occupational licensing, the economics of terrorism, and more recently on job search in periods when unemployment is high, including how job search is affected by things such as unemployment insurance. But that is just a small taste of the large amount of research he has done.
Krueger’s been working at the Treasury so maybe that will give him access that many of the other Obama economic advisers seemed without. Time is running out for policy to help the unemployed in any meaningful way. I say this because as we get closer to the election, it will make the Republicans more surly and less likely to do anything to help a Democratic administration. They’ve already been rewarded for hostage-taking behavior. Then, there’s the policy lags. Things like infrastructure banks take a lot of time to set up. Ideas like patent reform are laughable as job creation tools. I have no idea why the Obama administration won’t embrace things that worked in the past, but that doesn’t appear to be their MO. They seemed to get their jobs mojo from reheating failed Republican canards and presenting them as the higher, middle ground. I continue to be discouraged.
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Posted: August 27, 2011 | Author: bostonboomer | Filed under: Barack Obama, Civil Rights, Domestic Policy, Economy, jobs, morning reads, poverty, U.S. Economy, U.S. Politics | Tags: Barack Obama, Ben Bernanke, Cornel West, Federal Reserve Bank, Hurrican Irene, I Have A Dream speech, leadership vacuum, Martin Luther King, media frenzy, oligarchy, revolution |

By Mr. Fish, Truthdig.org
Good Morning! We are approaching the 48th anniversary of the March on Washington for Jobs and Freedom (remember those?) and Martin Luther King’s “I have a dream” speech. Perhaps it is fitting that the ceremony to be held tomorrow to commemorate the anniversary has been postponed indefinitely. After all, King’s dream of ending poverty in American has certainly been postponed indefinitely. Ironically, we now have a “Black President” who as different from Dr. King as night from day. Oh, if only King were here today to speak truth to this sorry excuse for a President!
A reminder from the Center for American Progress: Dr. King’s Legacy Relevant in Today’s Budget Battles
In the 1960s, Americans had a government that refused to deliver basic human rights to its people. Over time, after battles in the courts and the political arena, laws such as the Civil Rights Act of 1964 and the Equal Employment Opportunity Act of 1972 were passed. But despite these great accomplishments the fight continued because many Americans of all racial backgrounds were still living below the poverty line.
So in 1967, Dr. King and the Southern Christian Leadership Conference decided to organize and lead the Poor People’s Campaign to combat poverty. The goal was to push Congress to create an “Economic Bill of Rights” that would establish how the federal government would address and solve the country’s poverty issues. It called for full employment, affordable housing, reasonable living wages, and equitable education opportunities for the poor. Momentum built up around the country, but unfortunately the campaign ended early due to the tragic assassination of Dr. King and lack of organization to continue the efforts.
Cornel West had a very appropriate op-ed in the NYT a couple of days ago: Dr. King Weeps From His Grave Here is a relevant excerpt:
The age of Obama has fallen tragically short of fulfilling King’s prophetic legacy. Instead of articulating a radical democratic vision and fighting for homeowners, workers and poor people in the form of mortgage relief, jobs and investment in education, infrastructure and housing, the administration gave us bailouts for banks, record profits for Wall Street and giant budget cuts on the backs of the vulnerable.
As the talk show host Tavis Smiley and I have said in our national tour against poverty, the recent budget deal is only the latest phase of a 30-year, top-down, one-sided war against the poor and working people in the name of a morally bankrupt policy of deregulating markets, lowering taxes and cutting spending for those already socially neglected and economically abandoned. Our two main political parties, each beholden to big money, offer merely alternative versions of oligarchic rule.
The absence of a King-worthy narrative to reinvigorate poor and working people has enabled right-wing populists to seize the moment with credible claims about government corruption and ridiculous claims about tax cuts’ stimulating growth. This right-wing threat is a catastrophic response to King’s four catastrophes; its agenda would lead to hellish conditions for most Americans.
King weeps from his grave. He never confused substance with symbolism. He never conflated a flesh and blood sacrifice with a stone and mortar edifice. We rightly celebrate his substance and sacrifice because he loved us all so deeply. Let us not remain satisfied with symbolism because we too often fear the challenge he embraced. Our greatest writer, Herman Melville, who spent his life in love with America even as he was our most fierce critic of the myth of American exceptionalism, noted, “Truth uncompromisingly told will always have its ragged edges; hence the conclusion of such a narration is apt to be less finished than an architectural finial.”
King’s response to our crisis can be put in one word: revolution. A revolution in our priorities, a re-evaluation of our values, a reinvigoration of our public life and a fundamental transformation of our way of thinking and living that promotes a transfer of power from oligarchs and plutocrats to everyday people and ordinary citizens.
Yes we need a revolution. We desperately need to revise our priorities and values and to end the transfer of wealth and power from the people to the oligarchs. Who will lead that revolution? We have never been more in need of strong, honest, caring leaders and yet we have a complete vacuum of leadership. What is to become of our country?
Of course Hurricane Irene is the more immediate focus and the object of the media sharks’ feeding frenzy for today. Nothing so pedestrian as putting people back to work or ending poverty could interest them. Interestingly, big media seems to be ignoring the fact that the hurricane has weakened significantly and that the eye has collapsed, meaning that there is unlikely to be any more intensification of the storm. I suppose it could still do quite a bit of damage along the coastline, but as a Bostonian I’ve seen so many of these huge storms fail to live up to the hype that I’m skeptical of this one. I hope I’m right this time.
Jeff Masters at Weather Underground yesterday:
Satellite data and measurements from the Hurricane Hunters show that Irene is weakening. A 9:21 am EDT center fix by an Air Force Reserve aircraft found that Irene’s eyewall had collapsed, and the central pressure had risen to 946 mb from a low of 942 mb this morning. The highest winds measured at their flight level of 10,000 feet were 125 mph, which would normally support classifying Irene as a Category 3 hurricane with 115 mph winds. However, these winds were not mixing down to the surface in the way we typically see with hurricanes, and the strongest surface winds seen by the aircraft with their SFMR instrument were just 90 mph in the storm’s northeast eyewall. Assuming the aircraft missed sampling the strongest winds of the hurricane, it’s a good guess that Irene is a mid-strength Category 2 hurricane with 100 mph winds. Satellite imagery shows a distinctly lopsided appearance to Irene’s cloud pattern, with not much heavy thunderstorm activity on the southwest side. This is due to moderate wind shear of 10 – 20 knots due to upper-level winds out of the southwest. This shear is disrupting Irene’s circulation and has cut off upper-level outflow along the south side of the hurricane. No eye is visible in satellite loops, but the storm’s size is certainly impressive. Long range radar out of Wlimington, North Carolina, shows that the outermost spiral bands from Irene are now beginning to come ashore along the South Carolina/North Carolina border. Winds at buoy 41004 100 miles offshore from Charleston, SC increased to 36 mph as of 10 am, with significant wave heights of 18 feet.
And from last night: “Irene continues to weaken.”

Satellite data and measurements from the Hurricane Hunters show that Irene continues to weaken. A 1:32 pm EDT center fix by an Air Force Reserve aircraft found that Irene’s eyewall is still gone, and the central pressure had risen to 951 mb from a low of 942 mb this morning. The winds measured in Irene near the surface support classifying it as a strong Category 1 hurricane or weak Category 2. Satellite imagery shows a distinctly lopsided appearance to Irene’s cloud pattern, with not much heavy thunderstorm activity on the southwest side. This is due to moderate southwesterly wind shear of 10 – 20 knots. This shear is disrupting Irene’s circulation and has cut off upper-level outflow along the south side of the hurricane. No eye is visible in satellite loops, but the storm’s size is certainly impressive. Long range radar out of Wilmington, North Carolina, shows that the outermost spiral bands from Irene have moved ashore over North Carolina. Winds at buoy 41004 100 miles offshore from Charleston, SC increased to 47 mph, gusting to 60 mph at 3 pm EDT, with significant wave heights of 25 feet.
New York City has ordered 250,000 people to evacuate from coastal areas.
New York City officials issued what they called an unprecedented order on Friday for the evacuation of about 250,000 residents of low-lying areas at the city’s edges — from the expensive apartments in Battery Park City to the roller coaster in Coney Island to the dilapidated boardwalk in the Rockaways — warning that Hurricane Irene was such a threat that people living there simply had to get out.
Officials made what they said was another first-of-its kind decision, announcing plans to shut down the city’s entire transit system on Saturday — all 468 subway stations and 840 miles of tracks, and the rest of nation’s largest mass transit network: thousands of buses in the city, as well as the buses and commuter trains that reach from Midtown Manhattan to the suburbs.
Underscoring what Mayor Michael R. Bloomberg and other officials said was the seriousness of the threat, President Obama approved a request from Gov. Andrew M. Cuomo of New York to declare a federal emergency in the state while the hurricane was still several hundred miles away, churning toward the Carolinas. The city was part of a hurricane warning that took in hundreds of miles of coastline, from Sandy Hook, N.J., to Sagamore Beach, Mass.
From what I’ve heard, the Jersey Shore may get hit worse than NYC, but who knows? I know we have a few commenters from NJ, so I hope they will keep us updated on the situation there. In Boston, they are getting warnings about the storm surges for people along the coast and the Cape and islands.
BOSTON — As Hurricane Irene began to batter the Carolina Coast on Friday afternoon, a hurricane warning was issued for Cape Cod, Martha’s Vineyard, New York City and coastal Connecticut.
A tropical storm warning was issued for the North and South shores, and a tropical storm watch was issued for areas of southern New England further inland….
Massachusetts Gov. Deval Patrick declared a state of emergency ahead of the storm. He said he is particularly concerned because Irene will likely take a path through central Massachusetts, with fierce, damage-causing winds and storm surges on the eastern, coastal side of the state, and at least 10 inches of heavy rain leading to flooding to the west.
Here’s a little comic relief. Some ESPN guy (a former golfer) got in trouble for mocking President Obama on Twitter (has the First Amendment been repealed or what?)
ESPN is coming down on Paul Azinger for mocking President Obama on Twitter. The golf analyst tweeted Thursday the commander in chief plays more golf than he does — and that Azinger has created more jobs this month than Obama has.
On Friday ESPN ‘reminded” Azinger his venture into political punditry violates the company’s updated social network policy for on-air talent and reporters.
“Paul’s tweet was not consistent with our social media policy, and he has been reminded that political commentary is best left to those in that field,” spokesman Andy Hall told Game On! in a statement.
ESPN’s Hall would not comment on whether Azinger, who won the 1993 PGA Championship, will be fired, suspended or punished in some way. “We handle that internally,” he said.
In economics news, Ben Bernanke gave his eagerly anticipated speech yesterday, and basically said that the politicians have screwed up the economy and he hopes they won’t completely sink it with their insanely stupid policies based on Reagan era fantasies. If you’re interested, here are a few links to reactions to Bernanke’s speech.
Derek Thompson at The Atlantic: Bernanke: The Debt Ceiling Debate Nearly Broke the Recovery
Andrew Leonard at Salon: Bernanke Declines to Commit Treason
Jenine Aversa at Bloomberg: Bernanke Scholar Advises Bernanke Fed Chief to Be Bold on Monetary Policy
Those are my reading recommendations for today. What are you reading and blogging about?
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Posted: August 23, 2011 | Author: dakinikat | Filed under: Domestic Policy, income inequality, jobs, morning reads, New Orleans, Regulation, the blogosphere | Tags: Charges dropped against DSK, Dogs identify early stage lung cancer, FCC kills the Fairness Doctrine, Hurricane Katrina anniversary, jobless recovery, New Orleans, Rising Tide 6 |
Good Morning!
I’ll be attending Rising Tide 6 at Xavier on Saturday morning and will try to live blog as many of the seminars I’ll be attending as possible. Last year, I enjoyed the politics and criminal justice panels best. This year, there will be two session running simultaneously including some technical stuff on blogging and fun stuff on brass bands, food, and the HBO series Treme. The conference is a way for activists and bloggers in New Orleans to continue to see that New Orleans makes some progress post-Katrina and that information gets out to the public. Conference attendance has been growing each year.
Alright, so I choose the cute dog picture for a reason. Turns out they are some of our best friends and diagnosticians!! Check this headline out from Forbes: How Dogs Beat Doctors in Identifying Early-Stage Lung Cancer.
A new study in the European Respitory Journal shows that dogs are better at sniffing out the early markers of lung cancer than the latest medical technologies at our disposal. Lung cancer is the second most frequent form of cancer in men and women across the United States and Europe, accounting for approximately 500,000 deaths per year.
Part of the reason for the high mortality rate is that lung cancer is notoriously difficult to identify early. In many cases, the patient doesn’t show any symptoms and detection of the disease happens by chance. If someone isn’t that lucky, the cancer is likely to have already progressed by the time it is found.
The study investigated whether dogs could be trained to reliably identify specific volatile organic compounds (VOCs) that are linked to the presence of lung cancer. The latest medical methods for identifying lung cancer VOCs are generally unreliable because there is a high risk of interference in the results, especially from the residuals of tobacco smoke, and the results can take a long time to process.
Trained dogs were asked to sniff out a study group that included lung cancer patients, chronic obstructive pulmonary disease (COPD) patients, and healthy volunteers. The dogs successfully identified 71 samples of lung cancer out of a possible 100. They also correctly detected 372 samples that did not have lung cancer out of a possible 400 – a 93% success rate.
As impressive, the dogs were able to detect lung cancer markers independently from COPD and tobacco smoke – showing that Fido, unlike our latest technologies, can separate out lung cancer markers from the most confounding variables.
My friend Michelle swears that my late golden lab, Honey, saved her life. Honey kept jumping on her and putting her paws up on her breast until one day, her breast implant popped. We soon discovered it was leaking and she went to the doctor who discovered a tumor underneath the implant. Honey had some other amazing tricks too. She had an uncanny sense of who were criminals and cornered two of them when we lived in the quarter. I’d frequently walk Karma and Honey down to Pirate’s Alley after my gigs to rest and have a bit of wine with friends. Kids and tourists use to pet her, feed her, and roll all over her all the time. She was like a big stuffed toy. Only twice did I here her growl and found out she was nothing to be messed with. Both times she pushed young gutter punks up against the Cathedral until the security guard came around the corner to figure out why she was barking. Both of them were were wanted by the police. One had been stealing tip jars from the local street entertainers and the other was wanted for grabbing plates of food from tourists dining on the street. After that, Honey became one spoiled dog.
Every time she would walk by the galleries or restaurants all the business owners would see her, come out, and give her treats. The restaurant in Pirate’s alley always kept a big serving of pate for her. Honey died suddenly about 8 months after Katrina from a brain aneurysm. She was one heckuva dog. Karma and I miss her lots!! She was blind in one eye as you can see from her picture there to the right.
Politico reports that the FCC has finally killed off the fairness doctrine.
The FCC gave the coup de grace to the fairness doctrine Monday as the commission axed more than 80 media industry rules.
Earlier this summer FCC Chairman Julius Genachowski agreed to erase the post WWII-era rule, but the action Monday puts the last nail into the coffin for the regulation that sought to ensure discussion over the airwaves of controversial issues did not exclude any particular point of view. A broadcaster that violated the rule risked losing its license.
While the commission voted in 1987 to do away with the rule — a legacy to a time when broadcasting was a much more dominant voice than it is today — the language implementing it was never removed. The move Monday, once published in the federal register, effectively erases the rule.
Monday’s move is part of the commission’s response to a White House executive order directing a “government-wide review of regulations already on the books” designed to eliminate unnecessary regulations.
Also consigned to the regulatory dustbin are the “broadcast flag” digital copy protection rule that was struck down by the courts and the cable programming service tier rate. Altogether, the agency tossed 83 rules and regs.
The NY City prosecutor has asked the court to drop all sexual assault charges against Dominic Strauss-Kahn.
“The nature and number of the complainant’s falsehoods leave us unable to credit her version of events beyond a reasonable doubt, whatever the truth may be about the encounter between the complainant and the defendant,” the papers state. “If we do not believe her beyond a reasonable doubt, we cannot ask a jury to do so.”
At about the same time as the papers were filed, the lawyer for Nafissatou Diallo, the hotel housekeeper who accused Mr. Strauss-Kahn of sexual assault, emerged from a brief meeting with prosecutors to offer harsh criticism of Mr. Vance.
“The Manhattan district attorney, Cyrus Vance, has denied the right of a woman to get justice in a rape case,” the lawyer, Kenneth P. Thompson, said. “He has not only turned his back on this victim but he has also turned his back on the forensic, medical and other physical evidence in this case. If the Manhattan district attorney, who is elected to protect our mothers, our daughters, our sisters, our wives and our loved ones, is not going to stand up for them when they’re raped or sexually assaulted, who will?”
Ms. Diallo stood by his side, but said nothing.
There’s an extremely interesting article up at VoxEU by Economist Dr. Robert Gordan of Northwestern University. It talks in detail about our persistently jobless recovery. One important question is how and why did our economy destroy over 10 million jobs? Basically, we are now a nation of disposable workers.
When the economy begins to sink—like the Titanic after the iceberg struck—firms begin to cut costs any way they can; tossing employees overboard is the most direct way. For every worker tossed overboard in a sinking economy prior to 1986, about 1.5 are now tossed overboard. Why are firms so much more aggressive in cutting employment costs? My “disposable worker hypothesis” (Gordon 2010) attributes this shift of behaviour to a complementary set of factors that amounts to “workers are weak and management is strong.” The weakened bargaining position of workers is explained by the same set of four factors that underlie higher inequality among the bottom 90% of the American income distribution since the 1970s—weaker unions, a lower real minimum wage, competition from imports, and competition from low-skilled immigrants.
But the rise of inequality has also boosted the income share of the top 1% relative to the rest of the top 10%. In the 1990s corporate management values shifted toward more emphasis on shareholder value and executive compensation, with less importance placed on the welfare of workers, and a key driver of this change in attitudes was the sharply higher role of stock options in executive compensation. When stock market values plunged by 50% in 2000–02, corporate managers, seeing their compensation collapse with profits and the stock market, turned with all guns blazing to every type of costs, laying off employees in unprecedented numbers. This hypothesis was validated by Steven Oliner et al (2007), who showed using cross-sectional data that industries experiencing the steepest declines in profits in 2000–02 had the largest declines in employment and largest increases in productivity.
Why was employment cut by so much in 2008–09? Again, as in 2000–02, profits collapsed and the stock market fell by half. Beyond that was the psychological trauma of the crisis; fear was evident in risk spreads on junk bonds, and the market for many types of securities dried up. Firms naturally feared for their own survival and tossed many workers overboard.
So, that will give you some things to think about today!! What’s on your reading and blogging list today?
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