Monday Reads: Looking for at least 3 wise men, must be bearing indictments

Happy Christmas Sky Dancers!

Fifty more days until Mardi Gras!

We’re careening towards a New Year with a hope that 2018 brings indictments, a new congress, and impeachments!  I have some reads for you to let you remember why this year we RESIST!

From WAPO:  ‘The U.N. finds growing numbers of Americans are living in the most impoverished circumstances. How did we get here?’

But could extreme poverty also be a feature of what is (although perhaps not for long) one of the richecoasst and most powerful nations in the world? Quite possibly. To answer the question, the United Nations launched an investigation of extreme poverty in the United States.

Philip Alston, the United Nations special rapporteur on extreme poverty and human rights, has just wrapped up a 15-day tour of the United States. His team visited Alabama, California, Puerto Rico, West Virginia and Washington, D.C. The findings, released last Friday, documented homelessness, unsafe sanitation and sewage disposal practices, as well as police surveillance, criminalization and harassment of the poor. The rise in poverty, they found, disproportionately affects people of color and women, but also large swaths of white Americans. The report concluded that the pervasiveness of poverty and inequality “are shockingly at odds with [the United States’] immense wealth and its founding commitment to human rights.”

To be sure, poverty in the United States is not equivalent to poverty in less developed countries. This has never been a country free of inequality and poverty, but their rapid growth over the past two decades has undermined any professed commitment to equal opportunity or the belief that the nation’s prosperity rests on the well-being of ordinary Americans.

This phenomenon will undoubtedly be exacerbated by the topic of this thoughtful piece by Heater Cox Richardson in The Guardian: ‘Bit by bit, Trump is taking apart the New Deal’s glorious legacy’. 

Since January, there have been frightening signs that America is becoming an oligarchy overseen by a dictator. From the first, Donald Trump has followed an authoritarian playbook, beginning with his rejection of objective reality. Forced early on to defend the assertion that the crowd at Trump’s inauguration was the biggest ever witnessed, presidential spokesperson Kellyanne Conway explained that the administration used “alternative facts”. Since then, the president has repeatedly attacked fact-based media as “fake news”. Indeed, with his insistence on an alternative reality, Trump sometimes seems like an elderly Fox News-addled neighbour suddenly given power to make his bizarrely warped view of America real.

Since Democratic president Franklin Delano Roosevelt established the New Dealin the 1930s, radical conservatives have railed against the idea that the government should intervene in the economy. The New Deal responded to the Great Crash and the ensuing Depression by regulating business, providing a basic social safety net and promoting infrastructure in order to maintain a level playing field for all Americans. Opponents countered this principle by arguing that the government must not hem in America’s business leaders. In their view, government regulations and laws to benefit poorer members of society crippled leaders’ ability to prosper and, since their prosperity drove the economy by trickling down to everyone else, such laws destroyed progress.

Best and most appropriate holiday gift ever with the story via New York Daily News: ‘Gift-wrapped horse poop sends bomb squad to Steven Mnuchin’s Bel Air mansion’.

Los Angeles police got a whiff of horse manure intended for Treasury Secretary Steve Mnuchin at his Bel-Air home Saturday night.

A neighbor discovered the Christmas-themed package on the driveway of the Trump cabinet member around 5:30 p.m. local time and called police, a Los Angeles Police Department official said.

The bomb squad opened the gift-wrapped surprise and found a “pretty good quantity” of horse manure inside, LAPD Sgt. Briggs said.

fc8c55e06c80091958425f8a2cd64948And what brave man did this you may ask?   Well,  from AL.com we get this answer: ‘Man who left manure at Treasury Secretary Mnuchin’s house comes forward, speaks out’.

L.A. psychologist Robby Strong provided AL.com with convincing evidence that he is the man behind the now-infamous incident, which attracted the LAPD’s bomb squad and other law enforcement personnel to Mnuchin’s home in the city’s Bel Air neighborhood.

He defended his decision to drop the box of manure – which he says he got from a horse-owning friend – off at Mnuchin’s house as a “prank” aimed at raising the awareness of Americans about the idea that “Republicans have done nothing for the American worker” and other political topics.

“The thing I live by is a rule of transparency and I was exercising my First Amendment rights,” Strong told AL.com. “A few years ago when [a Supreme Court ruling] said that corporations are persons and money equals free speech, that is so absurd and my rule of thumb is now that if corporations are free speech, then so is horses***t.”

At 12:22 p.m. PST Saturday, Strong posted three pictures to Facebook, one of which depicts himself posing with a shovel next to a gift-wrapped box, and another of which shows the box full of what appears to be fecal matter.

Festive Resistance!   How very kewl!!  Roll backs on environmental protection continue.  Oil companies continue to look for ways to drill in pristine places like the Arctic National Refuge and the Gulf.   Louisiana has to fight all kinds of issues including a proposed battery component factory in a small town surrounded by water that connects to Lake Pontchartrain.

An Australian company hoping to bring a battery components factory to a port in southern Tangipahoa Parish is running into opposition from residents concerned the plant could harm the nearby swampy waterway used for fishing and recreation.

Syrah Resources is in the permitting phase for a facility that would process graphite from Mozambique into a component for lithium ion batteries, now in high demand for electric cars. The company is touting the plant as a way for Louisiana to position itself as a player in the growing electric car industry.

Similar plants exist in China, but this would be the first in the United States, said Paul Jahn, chief operations officer for battery anode materials at Syrah Tehnologies, the company’s battery subsidiary.

The factory would be located in an existing warehouse at Port Manchac, the port and industrial complex along North Pass, a narrow waterway connecting Lake Maurepa and Lake Pontchartrain.

The company hopes to start production in the spring of 2018.

At the plant, flake graphite would be milled into a spherical shape and purified with water and acids. The final product would be shipped to battery manufacturers in the U.S. and abroad, Jahn said.

At full capacity, the plant would produce about 10,000 metric tons of spherical graphite each year, he said.

Syrah has applied to the Louisiana Department of Environmental Quality for air and water permits. The company proposes to release annually about 38 tons of particulate matter, .93 tons of hydrochloric acid, .52 tons of hydrogen fluoride and .004 tons of formaldehyde into the air, according to permit documents. The plant also proposes to pump 41,000 gallons of water used in the manufacturing process into North Pass on a daily basis.

Louisiana is already making plans to move it’s coastal communities as most of its coastline continues to erode and sink into the Gulf of Mexico.  This headline is from Bloomberg: Louisiana, Sinking Fast, Prepares to Empty Out Its Coastal Plain’.  There are so many things that need to be saved from this administration it’s becoming an endless list.

Louisiana is finalizing a plan to move thousands of people from areas threatened by the rising Gulf of Mexico, effectively declaring uninhabitable a coastal area larger than Delaware.

A draft of the plan, the most aggressive response to climate-linked flooding in the U.S., calls for prohibitions on building new homes in high-risk areas, buyouts of homeowners who live there now and hikes in taxes on those who won’t leave. Commercial development would still be allowed, but developers would need to put up bonds to pay for those buildings’ eventual demolition.

“Not everybody is going to live where they are now and continue their way of life,” said Mathew Sanders, the state official in charge of the program, which has the backing of Governor John Bel Edwards. “And that is an emotional, and terrible, reality to face.”

Dust off your pink or purple pussy hat!  More women’s marches are on the way for 2018 and we’re going to need them!  Here’s a jolly headline from Newsweek: ‘HOW TRUMP AND THE NAZIS STOLE CHRISTMAS TO PROMOTE WHITE NATIONALISM’.

President Donald Trump wants Americans to think he re-invented Christmas.“We can say merry Christmas again,” he has said on numerous occasions both during his campaign for president and his presidency. “Christmas is back, better and bigger than ever before,” he told supporters months before the Christmas season.

“You can say again, ‘Merry Christmas’ because Donald Trump is now the president,” said Trump’s former campaign manager Corey Lewandowski after Trump won the election.

But critics counter that Trump is promoting a version of the holidays that excludes members of other religions, and that his crusade to bring back Christmas is part of a larger attempt by the president to define America as a country for white Christians alone.

Wishing people “merry Christmas” instead of “happy holidays,” is thus in line with Trump’s decision to ban citizens of Muslim-majority countries from entering the United States, critics say. It fits neatly with his refusal to condemn white supremacists when they march against diversity, and with his condemnation of athletes who protest police brutality against black men.

With this in mind, the fight to end the war on Christmas is exclusionary politics at its most flagrant.

“I see such invocations of Christmas as a kind of cypher, what some would call a dog whistle. It does not appear to be intolerant or extreme, but to attentive audiences it speaks volumes about identity and belonging—who and what are fully American,” Richard King, a professor at Washington State University who studies how white supremacists exploit culture, told Newsweek.

So, that’s it for me.  Let’s just get ready to take it all back in 2018!!  Have a great week! 

What’s on your reading and blogging list today?

Leave us a greeting!!!

 


Tuesday Reads: Some History Along With Today’s News

Navaho Code Talkers

Good Morning!!

I’ve spent this morning reading history, so that’s what I’m going to share with you today.

Yesterday, fake president Trump made a complete ass of himself once again when he hosted some Navaho Code Talkers in the Oval Office. To our eternal shame, Trump positioned them in front of a portrait of Andrew Jackson. Lawrence O’Donnell talked about it on his show The Last Word last night.

Please click on that link to watch Peter MacDonald’s speech and Lawrence’s commentary. You can also watch the entire White House ceremony with Trump’s dismissive body language and racist comments if you’re interested.

From MacDonald’s speech I learned that Navaho code was first used in 1942 on Guadalcanal. I’ve written before about how my Dad was a member of the North Dakota 164th Infantry, the first Army unit to go into battle in World War II. They were sent to Guadalcanal to help the Marines who were stranded there without incoming supplies and were down to one meal a day. They landed 75 years ago on October 13, 1942.

On Oct. 13, 1942, the 164th Infantry landed on Guadalcanal to become the first US Army unit to offensively engage the enemy – in either theatre – when it reinforced the 1st Marine Division against the Japanese in World War II.

A little more history:

A regiment of North Dakota Guardsmen, the 164th was sent to New Caledonia in January 1942 and extensively trained with its sister regiments comprising the Americal. Because of the extraordinary emergency faced by the 1st Marine Division on Guadalcanal, the regiment was deployed to fight with the Marines along the Henderson Field perimeter.

My Dad in uniform

Arriving on Guadalcanal on October 13, 1942, the 164th deployed into the perimeter:

Arriving at Guadalcanal on October 13, 1942 ahead of its brother regiments as emergency reinforcement for the 1st Marine Division, the Regiment was the first U.S. Army unit to engage in offensive action during World War II in the Battle of Guadalcanal. Between October 24 and October 27, elements of the regiment withstood repeated assaults from Japanese battalions and inflicted some two thousand enemy casualties. The First Marine commander, Major General A. A. Vandegrift, was so impressed by the soldiers’ stand that he issued a unit commendation to the regiment for having demonstrated “an overwhelming superiority over the enemy.” In addition, the marines took the unusual step of awarding Lt. Colonel Robert Hall, commander of the 3rd Battalion, 164th, with the Navy Cross for his role in these battles.

Until the Americal division commander, Major General Alexander M. Patch, and other units of the division arrived, the 164th fought alongside the Marines in a series of encounters with Japanese units in the Point Cruz area, where they successfully dislodged enemy troops from two hilltop strong points. The action earned them the nickname “The 164th Marines.” Members of the 164th were also known as “jungle fighters” within the U.S. media because of the terrain on which they fought.

On November 23, 1942, the Navaho Code Talkers arrived on Guadalcanal.

On Guadalcanal the US Marines were still dug in fending off Japanese attacks on their positions around Henderson Field. A remarkable new asset joined them in November 1942, when a detachment of Marines recruited from the Navajo Nation arrived. It was becoming necessary to communicate urgently by wireless on the battlefield – yet the Marines had learnt that the Japanese were often listening in. The introduction of men speaking in Navajo was to transform this situation. Chester Nez was one of the men who joined the battlefield in November 1942:

A runner approached, handing me a message written in English. It was my first battlefield transmission in Navajo code. I’ll never forget it. Roy pressed the transmit button on the radio, and I positioned my microphone to repeat the information in our code. I talked while Roy cranked. Later, we would change positions.

“Beb-na-ali-trosie a-knah-as-donih ab-toh nish-na-jih-goh dah-di-kad ah-deel-tahi.” Enemy machine-gun nest on your right flank. Destroy.

Suddenly, just after my message was received, the Japanese gun exploded, destroyed by U.S. artillery.

Navaho Code Talkers

One of the characteristics of the Navajo language was its oral tradition. The men were accustomed to remember quite long and detailed instructions rather than writing them down. This was to be an important aspect of the Navajo Code talkers work in addition to the fact that they their communications were impenetrable to the Japanese. Under the stress of combat conditions they were able to remember and pass on detailed instructions quickly without writing them down

My father was a radio operator. Did he help transmit some of those messages? I guess I’ll never know. If only he were still alive I could ask him.

It’s so sad that Trump ruined yesterday’s important ceremony with his idiotic attack on Elizabeth Warren.

CBS News: Families of Navajo Code Talkers decry Trump’s “Pocahontas” jab.

Families of Navajo war veterans who were honored Monday at the White House say they were dumbfounded that President Donald Trump used the event to take a political jab at a Massachusetts senator, demeaning their work with an unbreakable code that helped the U.S. win World War II.

Trump turned to a nickname he often deployed for Democratic Sen. Elizabeth Warren during the 2016 presidential campaign: Pocahontas. He then told the three Navajo Code Talkers on stage that he had affection for them that he doesn’t have for Warren.

“It was uncalled for,” said Marty Thompson, whose great uncle was a Navajo Code Talker. “He can say what he wants when he’s out doing his presidential business among his people, but when it comes to honoring veterans or any kind of people, he needs to grow up and quit saying things like that.”

Lupita Holiday, daughter of a code talker from St. Geroge, Utah told CBS News’ Jacqueline Alemany on Monday that it appeared that the president “doesn’t know the history” of the Native peoples.

“Maybe he doesn’t know we’re different tribes and he might have been here a long time ago but I don’t know,” said Holiday. She added, saying the name was “a little offensive” to her, “Look at the history of Pocahontas and maybe find out what she did and then find out what the code talkers did. It’s two different things. Two different tribes.”

Pocahontas is a well-known historical figure who bridged her own Pamunkey Tribe in present-day Virginia with the British in the 1600s. But the National Congress of American Indians says Trump wrongly has flipped the name into a derogatory term, and the comment drew swift criticism from American Indians and politicians.

I hate Trump. In fact, hate isn’t strong enough a word. There isn’t a word in the English language that could express how much I despise him.

To continue the historical theme, today is the 75th anniversary of the Cocoanut Grove fire, November 28. 1942. The Boston Globe published a long story about it today: The deadliest disaster in Boston’s history happened 75 years ago. Some worry the city is forgetting.

It all happened in less than 15 minutes.

Just a few blocks from the Boston Common, the city witnessed the worst-ever tragedy in its long history when a rapid inferno engulfed Cocoanut Grove, a popular nightclub packed with people out on the holiday weekend, exactly 75 years ago Tuesday.

Now, even those with close ties to the 1942 disaster — the second deadliest building fire in American history — say it’s tough to locate the nightclub’s former location where rows of indistinct Bay Village apartment buildings now stand.

“The sands of time are basically covering over an event that is of huge importance historically locally, but also nationally,” said Dr. Ken Marshall, a local surgeon and chairman of the Cocoanut Grove Memorial Committee….

“This changed fire laws and safety rules and building code regulations, and monumental things in medicine,” he told Boston.com, adding that “95 percent of people” don’t even know where it happened.

Four hundred and ninety-two people died within 15 minutes; 400 more were sent to hospitals. The club was packed with about 1,000 people. The legal capacity was supposed to be 450. People couldn’t escape because outside doors were locked to prevent customers from leaving with out paying their bills. The only exits were revolving doors.

The revolving doors leading to Shawmut Street became a “death trap,” according to the Globe.

The portico was a furnace, and firefighters were unable to get under the three arches of stucco, unable to penetrate nine feet to the revolving door, jammed with bodies, where they could see, through the glass, flames, smoke and men and women, succumbing and falling in a stack. Officer Elmer Brooks recalled that when rescuers tried to pull bodies from the door, arms and legs came off in their hands.

Main dining room after the fire

After this horrible disaster, many fire safety laws were passed in Massachusetts and around the country. You know those pesky regulations that Republicans hate so much? I hope you’ll read the article. It’s really interesting.

I’ll end with three political news stories.

Splinter News: Here Are Some Facts and Questions About That Nazi the New York Times Failed to Note.

The New York Times published a profile over the weekend of an Ohio man named Tony Hovater, a co-founder of the white supremacist Traditionalist Worker Party. The piece, by reporter Richard Fausset, was meant to say something profound about the banality of evil—This man shops for groceries! He has a Twin Peaks tattoo! He has both a wife and cats!—but it came across instead as an exercise in making evil sound banal.

In one of two follow-up pieces the Times ran to try to explain the story, the paper’s national editor, Marc Lacey, wrote, “We recognize that people can disagree on how best to tell a disagreeable story. What we think is indisputable, though, is the need to shed more light, not less, on the most extreme corners of American life and the people who inhabit them.”

Yet Fausset spent so much time staring at Hovater eating a turkey sandwich, he didn’t get around to shining much light on the particular corner his subject occupies. The Times managed to miss or gloss over a whole batch of facts and questions that might have lent both context and color to what purported to be a definitive profile of a white nationalist “foot soldier.”

Click on the link to learn the many facts the NYT failed to report.

Michelle Goldberg at the NYT: Odds Are, Russia Owns Trump. Goldberg has been reading that book by  Luke Harding’s I’ve been telling you about.

Three months ago, The Washington Post reported that even as Donald Trump ran for president, he pursued plans to build a Trump Tower in Moscow. The next day, The New York Times published excerpts from emails between Felix Sater, a felon with ties to Russian organized crime, and Michael Cohen, one of Donald Trump’s lawyers and Sater’s childhood friend, about the project. Sater was apparently an intermediary between Trump and Russia, and in a Nov. 3, 2015, email to Cohen, he made the strange argument that a successful deal would lead to Trump’s becoming president. Boasting that he was close enough to Vladimir Putin to let Ivanka Trump sit in the Russian president’s desk chair, Sater wrote, “I will get Putin on this program and we will get Donald elected.”

These stories were, at the time, bombshells. At a minimum, they showed that Trump was lying when he said, repeatedly, that he had “nothing to do with Russia.” Further, Sater’s logic — that Putin’s buy-in on a real estate deal would result in Trump’s election — was bizarre, suggesting that some part of the proposed collaboration was left unsaid.

But three months feels like three decades in Trump years, and I mostly forgot about these reports until I read Luke Harding’s new book, “Collusion: Secret Meetings, Dirty Money, and How Russia Helped Donald Trump Win.” One uncanny aspect of the investigations into Trump’s Russia connections is that instead of too little evidence there’s too much. It’s impossible to keep it straight without the kind of chaotic wall charts that Carrie Mathison of “Homeland” assembled during her manic episodes. Incidents that would be major scandals in a normal administration — like the mere fact of Trump’s connection to Sater — become minor subplots in this one.

That’s why “Collusion” is so essential, and why I wish everyone who is skeptical that Russia has leverage over Trump would read it. This country — at least the parts not wholly under the sway of right-wing propaganda — needs to come to terms with substantial evidence that the president is in thrall to a foreign power.

Please go read the whole piece.

Abigail Tracy at Vanity Fair’s The Hive: Has Mike Flynn Already Flipped on Trump?

The conspicuous lack of charges against Michael Flynn and Michael G. Flynn, despite reports that Robert Muelleralready has enough evidence to arrest the former national security adviser and his son, invites the obvious question: has the elder Flynn already turned state’s witness? The tantalizing possibility that Flynn, like George Papadopoulos, has flipped, gained new currency last week when The New York Times reported that Flynn’s lawyer, Robert Kelner, had ended an agreement to share relevant information about the ongoing Justice Department investigation with Donald Trump’s legal team—a move that could presage a new arrangement with Mueller. Jay Sekulow,an attorney for Trump, dismissed that interpretation at the time, telling the Washington Post, “No one should draw the conclusion that this means anything about General Flynn cooperating against the president.” But a new report that Kelner met with members of the special counsel’s team suggests that Flynn has, in fact, cut some kind of deal.

According to ABC News, Kelner visited Mueller’s offices in Washington, D.C., on Monday—a development that could indicate the two sides are discussing a plea deal. (Keller declined to comment on the meaning of the meeting.) That could have far-reaching implications for the president and members of his campaign. Of the many Trumpworld characters ensnared in Mueller’s probe, Flynn is perhaps one of the most pivotal; not only does he lay claim to some of the most questionable Russian contacts, but he could also prove to be immeasurably valuable in revealing whether the Trump campaign colluded with the Kremlin to derail Hillary Clinton’s candidacy.

I can’t wait until we get the full story!

That’s it for me today. What stories are you following?


Friday Reads: transient, evanescent, inconstant

Good Afternoon Sky Dancers!!

I’m not sure what manner of factors has created the circumstances of this year but I’m really over it.  Kinsey is putting on weight and eating nicely. Dinah’s fur is returning.  Miles has had a terrible few days.  Something triggered a drop in his blood sugar and he’s got so many things wrong suddenly that it’s hard to separate what’s wrong from what’s causing it.  I feel under siege.  Turning on the TV and reading the newspaper or any myriad of things I usually do to help is not really helping because the chaotic Kremlin Caligula has my stomach in tight knots already.  He’s ready to make all the creatures of the earth go extinct.  Every thing he does destroys life.

Those three words up there are how the Buddha describes our existence.  Now that we live in the nightmare realm of a person with an extremely awful personality disorder we can add destructive chaos to that list.

I was going to try to stick to other  things today because frankly it’s one moment at a time for me at the moment. I am certainly not alone. Here’s a nice read via one of my cousins: “Annie Proulx Gave One of the Best National Book Award Speeches in Recent Memory.”

We don’t live in the best of all possible worlds. This is a Kafkaesque time. The television sparkles with images of despicable political louts and sexual harassment reports. We cannot look away from the pictures of furious elements, hurricanes and fires, from the repetitive crowd murders by gunmen burning with rage. We are made more anxious by flickering threats of nuclear war. We observe social media’s manipulation of a credulous population, a population dividing into bitter tribal cultures. We are living through a massive shift from representative democracy to something called viral direct democracy, now cascading over us in a garbage-laden tsunami of raw data. Everything is situational, seesawing between gut-response “likes” or vicious confrontations. For some this is a heady time of brilliant technological innovation that is bringing us into an exciting new world. For others it is the opening of a savagely difficult book without a happy ending.

To me the most distressing circumstance of the new order is the accelerating destruction of the natural world and the dreadful belief that only the human species has the inalienable right to life and God-given permission to take anything it wants from nature, whether mountaintops, wetlands or oil. The ferocious business of stripping the earth of its flora and fauna, of drowning the land in pesticides again may have brought us to a place where no technology can save us. I personally have found an amelioration in becoming involved in citizen science projects. This is something everyone can do. Every state has marvelous projects of all kinds, from working with fish, with plants, with landscapes, with shore erosions, with water situations.

Yet somehow the old discredited values and longings persist. We still have tender feelings for such outmoded notions as truth, respect for others, personal honor, justice, equitable sharing. We still hope for a happy ending. We still believe that we can save ourselves and our damaged earth—an indescribably difficult task as we discover that the web of life is far more mysteriously complex than we thought and subtly entangled with factors that we cannot even recognize. But we keep on trying, because there’s nothing else to do.

It’s difficult being realistic these days.  I fully admit that I’d like to be able to live in a world of my invention.  For example, I’d like people to stop killing animals unnecessarily.  How can you call killing anything that’s sentient and beautiful a “sport”?  What kind of freak gets enjoyment out of that?  You eat out of necessity.  Anything beyond that puts you in the ‘disturbed’ category in my ethos.

And why, still, at 62 do I have to avoid dark streets and places?  Warn my daughters about things put in drinks?  Worry about being at event that isn’t mostly filled with gay men and women of any stripe? When can I just go some place and relax without checking for the nearby predators? Why am I supposed to laugh off incredibly disturbing behavior involving my biology or some other aspect of my existence as a woman?  How do I get the media to understand the difference between a tasteless cad and a perpetrator of sexual assault?  #EveryWomanTOO

I am a Democrat because I am a feminist who lives under a two-party system, where one party consistently votes against the interests of women while the other sometimes does not. I am not a true believer in the party itself nor in any politician. I am a realist who recognizes that we get two viable choices, and Democrats are members of the only party positioned to pump the brakes on Republicans’ gleeful race toward Atwoodian dystopia. Meanwhile, I recognize that men’s harassment of and violence against women is a systemic issue, not a Democrat or Republican problem, a Hollywood problem, a sports problem, or a media problem. Its roots lie in a patriarchal culture that trains men to believe they are entitled to control women’s bodies —for sex, for sport, for childbearing, for comedy.

When you combine these things — an awareness that the Democratic Party is no more or less than best of two, and an understanding that men in power frequently exploit women — it becomes difficult to believe that Franken is the only sitting Democrat with a history of harassment, abuse or assault. The recent #metoo campaign demonstrated how normalized unwanted kissing and groping are in our culture. Donald Trump was caught on tape crudely admitting to both of those transgressions, and we made him our president. According to the CDC’s National Intimate Partner and Sexual Violence Survey, 1 in 3 women experiences some sort of contact sexual violence in her life. Sexual harassment and assault are simply too widespread for Democrats to respond to Franken’s offense with only Franken in mind: We need to respond in a way that helps us develop a protocol for meaningful change.

FILE – This Oct. 11, 1991 file photo shows University of Oklahoma Law Professor Anita Hill testifying before the Senate Judiciary Committee on Capitol Hill in Washington. HBO says that “Scandal” star Kerry Washington will play Hill in a film about the 1991 Supreme Court confirmation hearings for Clarence Thomas. (AP Photo, File)

I really didn’t want to go on and on about this but wtf is this?  “Congress paid out $17 million in settlements. Here’s why we know so little about that money.”  This equals 260 settlement over the last 20 years.  This reminds me of Newt Gingrich going after Bill Clinton while cheating on his current wife with the Calista. This is happening in their offices and while they’re in office.

On Thursday, the Office of Compliance released additional information indicating that it has paid victims more than $17 million since its creation in the 1990s. That includes all settlements, not just related to sexual harassment, but also discrimination and other cases.

An OOC spokeswoman said the office was releasing the extra data “due to the interest in the awards and settlement figures.” The OOC has come under fire in recent days for what lawmakers and Hill aides alike say are its antiquated policies that do not adequately protect victims who file complaints.
CNN has also learned that during the current Congress, no settlement payment approval requests have been made to the congressional committee charged with approving them.

Go read up on how little the public knows about this huge sum of money going out to the victims of sexual predators in Congress. Now, think about how things change when there are a critical number of women that get to make decisions.  Take difference in costume choice for Wonder Woman with a woman director choosing a woman costume designer vs. the alternative.  How many of us think that that Uncle Clarence Thomas would not be on the Supreme Court if it was Senator Hillary Clinton instead of Senator Joe Biden in charge of things?

Wonder Woman was great for many reasons (Diana Prince for president, etc.), but one of the most lauded moments was the representation of the Amazons, a team of female fighters who spend their lives on an island devoid of men. This group of women were brought to life by director Patty Jenkins and costumed by designer Lindy Hemming, and their outfits were essentially armor. Flash forward to Justice League, and fans have noticed that the Amazons’ attire—designed by Michael Wilkinson with direction by Zack Snyder—are slightly…smaller.

The graphic stories told by woman on Capitol Hill–Boston Boomer wrote more on this yesterday–were probably similar to the ones that would’ve come out at of the Clarence Thomas Hearing or any hearing on Teddy Kennedy or Strom Thurmond.

Others said they had been harassed by two sitting members of Congress. Speier (D-Hillsborough) declined to identify those members, saying only that one is a Republican and one is a Democrat.

“The culture in this country has been awakened to the fact that we have a serious epidemic in the workplace in all professions, in all walks of life, and it’s incumbent upon those who are in authority to address it and address it swiftly,” Speier told reporters Tuesday after testifying in front of the House committee that is considering changes in how harassment in Congress is investigated. She said she couldn’t provide more details on the incidents because the victims had signed nondisclosure agreements as part of settlements.

The rich and powerful man always manages to get those disclosure agreements even when it’s his work or our taxpayers that pay to silence the stories of women.  Back again to that CNN article at the top:

It is unclear how much of the $17 million is money paid to sexual harassment cases because of the Office of Compliance’s complex reporting process. However, even knowing that dollar figure doesn’t quantify the problem: a source within the Office of Compliance tells CNN that between 40 and 50% of harassment claims settle after mediation — an early stage in the multi-tiered reporting process.

And the number of settlements reached may not be indicative of how widespread sexual harassment is, as many victims chose not to proceed with OOC’s process for handling complaints. Tracy Manzer, a spokeswoman for Speier, told CNN last week 80% of people who have come to their office with stories of sexual misconduct in the last few weeks have chosen not to report the incidents to the OOC.

The most evident and clear thing to me is that we can’t even get a good hearing on the topic unless there are enough women in places of influence in institutions to find ways to make it all come out.  Then, make it stop.  We’re probably going to have to rely on complicit men–however, not full blow predators–that have enabled rape culture with their frat boy humor and antics.  I don’t see any reason for them to be kicked out of anything unless they have a pervasive problem.  I expect, however, the enablers, like those guilty of the tasteless humor and actions shown by Franken to repent.  I also expect those that quietly enable or jokingly enable predators–like freaking Billy Bush–to do some acts of repentance.  In our law, we have varying degrees of sexual assault and sexual battery.  The law and our society agrees that the worse form of predation is of the grown up on child.  This should be punished–as it is–with the full force of the legal system.  There is no equivocation of first degree rape with lesser counts of sexual assault or battery or harassment. 

Specific laws vary by state, but sexual assault generally refers to any crime in which the offender subjects the victim to sexual touching that is unwanted and offensive. These crimes can range from sexual groping or assault/battery, to attempted rape. All states prohibit sexual assault, but the exact definitions of the crimes that fall within the category of sexual assault differ from state to state. The laws share some basic elements, but the structures, wording and scope of sexual assault offenses vary considerably, so always check your local statutes for specific questions.

Discussion on topics like sexual assault and racism are always full of nuances and backlash, denial and witness, and tribal amnesia and defiance.  Media is our current platform to work through all of these.  It should not be a good thing under any circumstance for a person of power just to force themselves or to do something violent to a helpless child, animal, or person sitting in their car while being black, or an intern.  What kind of person gets a thrill be taking away some one else’s humanity and moral authority?   What kind of person thinks an endangered animal in a wildlife park is some form of manhood trophy?  My short answer: a morally bankrupt and abhorrent one.

Meanwhile, Americans living in Puerto Rico and the Virgin Islands are dying from lack of basic necessities.  One head has rolled, but it’s not the one that ultimately deserves it.  

Talk amongst yourselves!

What’s on your reading and blogging list today?


Monday Reads: SchadenGaijun

TrumpzillaMorning Sky Dancers!

So, that’s not really a word.  I borrowed  part of schadenfreude from the German and gaijun from the Japanese. Gaijun is the word used to disparage outsiders or strangers in Japan. It has a long history.  Our national nightmare has gone off to embarrass us in the very area he ceded to the Chinese a few days after his coup. His first stop demonstrated his ability to be the prototype for Ugly American to friends and allies in Japan and his inability in all other things.

It’s really hard for me to really do justice to how insulting and embarassing this asshole has been in the few days he’s terrorized Japan. Trumpzilla is doing all those things that a massively selfish, uncouth, mal-educated Ugly American would do to the exponent of infinity and beyond.  His basic response to anything not him is to say something racist, I swear.

c9918f_c2ef0e5286954278b447e035547ccb34-mv2_d_2400_2400_s_4_2The Youtube is of the National Embarrassment dumping an entire box of food into a Coi Pond.  You’re supposed to show some class and culture and drop one pellet at a time to the precious fish. But no, we have a toddler who just couldn’t sit still long enough to do what he was instructed to do by the humiliated Japanese.

The moment happened as Trump and Japanese Prime Minister Shinzo Abe headed to lunch. The leaders were escorted to a dining room that overlooks a koi pond ad Akasaka Palace.

Moments later, aides opened two large screen doors and the leaders emerged holding two small wooden boxes filled with fish food.

As an aide clapped loudly, Abe and Trump tossed spoonfuls of fish food into the pond. Then, with a look of enjoyment, Trump quickly poured his entire box of food into the pond
.
The move got Trump some laughs, and a smile from Abe, who actually appeared to dump out his box of food ahead of Trump.

The two leaders then sat down for lunch.

Trump was at Tokyo’s Imperial Palace for a greeting with Japan’s 83-year-old Emperor Akihito before settling down for meetings and lunch with Abe, who has become Trump’s closest partner in Asia as he confronts an increasingly hostile North Korea.

The two men spent much of Sunday at informal engagements in and around Tokyo, lunching on hamburgers at an exclusive country club before playing nine holes of golf. In the evening they were joined by their wives for dinner at a high-end eatery in the Ginza district.

Who the fuck eats hamburgers and plays golf while in Japan?

trumpzilla-720Oh, and here’s a short list of the various insults and stupid remarks.  Oliver Willis says it best for this one.

It doesn’t help the caricature of American ignorance when the leader of the country so blatantly demonstrates his ignorance and speaks about it as a supposedly amusing anecdote.

The remark follows his bizarre behavior after he instructed reporters to give him credit for improving economic conditions in America while speaking about Chinese President Xi Jinping.

After reporters noted Jinping’s “successful run,” Trump complained, “Excuse me, so am I.” He then launched into an extended campaign speech, rather than focusing on international relations.

Yet even when he has done that, Trump has fumbled.

Meeting with Japanese business leaders, Trump said, “We love it when you build cars – if you’re a Japanese firm, we love it – try building your cars in the United States instead of shipping them over.”

Japan currently builds more cars in America than the big three U.S. automakers do, and they have done so for years.

Trump is already an embarrassment to millions of Americans through his actions and words on U.S. soil, but when he goes overseas, it seems he doubles down on his embrace of ignorance and loutishness.

He is unfortunately the face of America, and he seems dead-set on making the entire country look bad while he tries to puff himself up.

trumpzilla-00Yes, “Trump tells Japan to build cars in US instead of shipping them over”. What a fucking moron! 

President Trump called on Japan to build more cars in the U.S. during his stop in the country as part of his first official tour of Asia as president.

“Try building your cars in the United States instead of shipping them over,” Trump said at an event with Japanese business executives, according to a pool report.

“That’s not rude?” he added.

Three out of every four Japanese brand cars sold in North America were manufactured on the continent, according to Columbus Business First.

And Mazda and Toyota announced in August that they were investing $1.6 billion to start a new manufacturing plant in the U.S. that will create about 4,00 new jobs.

Trump added that “Japan has been winning” when it comes to trade deals with the U.S.

“I have to say that for the last many decades, Japan has been winning. And you do know that,” Trump said.

Trump has long called for the U.S. to have better trade deal with other countries including Japan. He told reporters one day earlier that he and Japanese Prime Minister Shinzo Abe would be having “major discussions” on trade during the trip.

Trump also bragged about the quality of U.S. military equipment during the event.

“We made the greatest military equipment in the world. There’s nothing close. [Abe] is ordering a lot of military equipment, as he should be, given what’s happening with one of your neighbors,” Trump said during a visit to the U.S. ambassador’s residence.

21294272_170843256807045_7718744860198436864_nSpeaking of military equipment,  Trump seems to have a 17th century view of Japan.  He must’ve prepared for his trip by watching reruns of old Mifune movies or perhaps Shogun.

U.S. President Donald Trump has said Japan should have shot down the North Korean missiles that flew over the country before landing in the Pacific Ocean earlier this year, diplomatic sources have said, despite the difficulties and potential ramifications of doing so.

The revelation came ahead of Trump’s arrival in Japan on Sunday at the start of his five-nation trip to Asia. Threats from North Korea’s nuclear weapons and missile development programs were set to be high on the agenda in his talks with Prime Minister Shinzo Abe on Monday.

Trump questioned Japan’s decision not to shoot down the missiles when he met or spoke by phone with leaders from Southeast Asian countries over recent months to discuss how to respond to the threats from North Korea, the sources said.

The U.S. president said he could not understand why a country of samurai warriors did not shoot down the missiles, the sources said.

In defiance of international sanctions imposed to compel Pyongyang to abandon its nuclear weapons and missile development programs, North Korea test-launched ballistic missiles on Aug. 29 and Sept. 15 that flew over Hokkaido before falling into the Pacific Ocean.

However, the Self-Defense Forces did not try to intercept the missiles, with the government saying the SDF had monitored the rockets from launch and judged they would not land on Japanese territory.

But the altitude and speed of the missiles would have made it very difficult to destroy them in flight, while failure would have been embarrassing for Japan and encouraging to North Korea.

Defense Ministry officials confirmed this view and said there were also legal issues to clear.

Trump doesn’t have a clear handle on the restrictions placed on Japan after surrender on what they can and cannot do militarily.   How’s this for a headline? “Donald Trump begins Asian trip in Japan, with ketchup, golf and nuclear war on agenda.”

A Japanese official told reporters the country’s famed Wagyu beef would be on Sunday’s menu, prompting fears of a culinary gaffe.

In May, Mr Trump shocked the foodie world by ordering his $71 steak cooked “well done” and (gasp) smothering it in tomato sauce.

Asked about the prospect of a similar food snob crime against high-end Wagyu, the Japanese foreign affairs official implied a subtle dance of manners is at play.

“We will prepare ketchup,” the official said.

godzilla-2014-france-wallpaper__140518160110Trump has suggested a nuclear Japan.

 President Donald Trump’s suggestion that the U.S. drastically increase its nuclear arsenal follows a presidential campaign in which he made a number of contradictory statements about weapons of mass destruction.

As a candidate, he called nuclear proliferation the “single biggest threat” facing the world while also suggesting Japan and South Korea should obtain nuclear weapons as a defense. During one debate he ruled out a “first strike” but in the same breath said he would not take anything off the table.

He clearly has no sense of what Japan has become since being the first place nuclear bombs were dropped and being stripped of nearly everything after World War 2.  Today, there was this shocker!

Oh, and then there’s this in the speech.

Donald Trump has risked causing major offence during a visit to a key US ally, with bellicose remarks to troops that talked up America’s military prowess.

The President was speaking at Yokota air base in Japan in the early stages of his tour of the Asia-Pacific region and at a time of heightened tension with North Korea due to the country’s nuclear ambitions.

Mr Trump has traded insults with Kim Jong-un, who he calls “Little Rocket Man”, following repeated ballistic missile tests by Pyongyang including two that flew over Japan’s Hokkaido island.

The billionaire did not temper his rhetoric in a speech to US and Japanese military personnel on Sunday, saying that “together with our allies, America’s warriors are prepared to defend our nation using the full range of our unmatched capabilities”.

“No dictator, no regime, no nation should ever underestimate American resolve,” he added.

And in a remark that held the potential to cause widespread offence in a country where America killed around 140,000 people in 1945 – when it dropped atomic bombs on Hiroshima and Nagasaki – the President added: “Every once in a while, in the past, they underestimated us. It was not pleasant for them, was it?”

Dr Jacob Parakilas, the deputy head of Chatham House’s US and the Americas programme, told The Independent the remarks were “insensitive”, but arguably no more so than other comments the President is reported to have made about Japan.

“This at the same time that he described them as a nation of ‘samurai warriors’. I think that’s probably much more offensive,” he said.

He added: “It’s a question of what the Japanese people feel. The Japanese government isn’t likely to raise a concern over anything that Trump says that they perceive as insensitive, because they’re seeking his continued support.

“It’s Trump. He barely can get through a day without saying something that’s readable as impolitic.”

Kolb_LoresPoor Prime Minister Abe.  He’s been assigned to  play the proverbial Asian Stereotype of  Cato while  hanging out with Inspector Clueless.  I’m particuarly sensitive to all of this since my children are of Japanese descent.  I’ve been regaled with such comments as “at least he isn’t black” and “don’t bring home any slanty eyed grandbabies”,  seeing a secretary call my ex her “little yellow friend”  and watching an uncle by marriage  let his aunt that he drug to a family reunion treat my ex–born on a US military base in Japan of the typical war bride soldier thing–like he was personally responsible for the horrible death of her son on the Bataan Death March.

Abe, listening to an interpreter through an earpiece, smiled and remained silent. But his face betrayed a touch of uncertainty as the U.S. leader returned to his script. After the Japanese government had rolled out the red carpet for Trump and his family for two days, the patron was being patronized. It is becoming a familiar theme for Abe.

Their relationship can seem like an oddball mismatch of global leaders who are thrust together over their shared dislike of the nuclear-armed tyrant next door in North Korea, but who somehow hit it off amid golf course hijinks. Since Trump took office, Abe has been his most consistent suitor, courting him with luxurious gifts (a $3,800 gold-plated driver) and constant attention (numerous phone calls and a personal visit to the White House and Trump’s Mar-a-Lago resort in Florida).

But as Abe has lavished attention on Trump, their relationship has retained a subtext in which the U.S. president insists on asserting his dominance in a passive-aggressive manner. It started with Trump’s emasculating 19-second handshake with Abe in their Oval Office meeting in February, after which Abe appeared to grimace as though his fingers had been crushed.

Trump has let up on the power grip since then but in more subtle ways he has continued to show who is the alpha — a price Abe appears willing to pay in his strategic servitude to keep Trump supporting the post-war security alliance that the president had openly questioned in his election campaign.

The Japanese are the masters of wearing different faces and allowing differing levels of intimacy impact relationships.  Trump would be well advised to figure out when he’s being shaded in the Japanese tradition.   You can learn about kao, menboku, and tiamen here.  No gaijun businessman doing deals in Japan doesn’t extensively study these things first. Believe me, the Japanese are great at poker faces, bluffs, and going all in.

So, there’s a lot of TRussia news today. We’re waiting for the Flynn arrests.  There’s a huge dump of data on Treasure Isles that shows how nearly every Trump Billionaire on the cabinet is basically in business with Russia.  Wilbur Ross is likely going down.  I want to spend some time reading the Paradise Papers and grasping what’s going on.  Here’s a good place to start. 

I just want to bury my head in my pillow and make it all go away.

What’s on your reading and blogging list today?

 


Friday Late—Really Late–Reads

KinseyGood Afternoon!

Well, I think I officially joined Team Crazy Cat Lady.  I saved this little girl from death row this morning after being bribed and cajoled by a friend.  She’s a total peach too.  Kinsey’s doing her own introductions and doesn’t appear to need any help from me. I’m not sure how any one has a cat for ten years and then just unceremoniously dumps them–hyperthyroidism and all–with out any second thoughts but she’s home with the rest of the kathouse tribe now.

I was going to spend today doing economics wonk things because I’m seriously worried about some underlying conditions in this economy. I’m also quite worried about the shitty law giving the Wall Street Gambling Palaces a break from oversight and being held accountable.  The Senate killed a rule on class actions suits against Financial Institutions.

The Senate has voted to get rid of a banking rule that allows consumers to bring class-action lawsuits against banks and credit card companies t’t o resolve financial disputes, they also recommend people to only use reliable agencies like Rhinosure when it comes to finances. Critics say Republicans and the Trump administration are siding with Wall Street over Main Street and that the shift will block consumers from joining together against the likes of Wells Fargo and Equifax.

“This bill is a giant wet kiss to Wall Street,” Sen. Elizabeth Warren, D-Mass., said on the Senate floor. “Bank lobbyists are crawling all over this place begging Congress to vote and make it easier for them to cheat their customers.”

With Vice President Pence casting the tie-breaking vote, the rollback of the Consumer Financial Protection Bureau rule banning restrictive mandatory arbitration clauses found in the fine print of credit card and checking account agreements passed 51-50, with Sens. Lindsey Graham, R-S.C., and John Kennedy, R-La., voting against repeal.

The Republican-controlled House had already voted to rescind the rule and President Trump is expected to quickly sign the measure, which also bars similar rules in the future.

The consumer agency’s rule, released in July, was aimed at giving consumers more power. Prior to the rule, the bureau said companies could “sidestep the court system” by “forcing consumers to give up or go it alone.”

This allowed companies to “avoid big refunds, and continue harmful practices,” the bureau wrote in July in announcing the changes.

House Republicans on Thursday narrowly adopted the Senate’s version of the 2018 budget resolution, overcoming a key hurdle for the party’s tax-reform plan.

The budget will allow Republicans to pass a tax overhaul that adds up to $1.5 trillion to the deficit through a process known as reconciliation, which only requires 51 votes to pass in the Senate.

Twenty Republicans voted against the budget in the 216-212 vote, more than the 18 who voted against the original House version earlier this month.

Most of the 20 defectors were centrists hailing from populous states that could stand to lose from eliminating the state and local tax deduction.

Those lawmakers included Reps. Dan Donovan (N.Y.), John Faso (N.Y.), Brian Fitzpatrick (Pa.), John Katko (N.Y.), Pete King (N.Y.), Leonard Lance (N.J.), Frank LoBiondo (N.J.), Tom MacArthur (N.J.), Chris Smith (N.J.), Elise Stefanik (N.Y.), Claudia Tenney (N.Y.) and Lee Zeldin (N.Y.).

“We must provide middle-class tax relief and lower the burdens on job-creating small businesses. I could not, however, vote in support of a budget resolution that singled out for elimination the ability of New York families to deduct state and local taxes,” Faso said in a statement.

DNFcWusUEAASa_oMore Economic News and analysis from Dr Joseph Stiglitz–writing for The Nation –that’s really on point and scary.

There is a widespread sense of powerlessness, both in our economic and political life. We seem no longer to control our own destinies. If we don’t like our Internet company or our cable TV, we either have no place to turn, or the alternative is no better. Monopoly corporations are the primary reason that drug prices in the United States are higher than anywhere else in the world. Whether we like it or not, a company like Equifax can gather data about us, and then blithely take insufficient cybersecurity measures, exposing half the country to the risk of identity fraud, and then charge us for but a partial restoration of the security that we had before a major breach.

athomeKinseyHarvard Economist Manuel Maniz shows us that just economic growth alone is no longer producing the results we need. This is a scary break down about all know about labor economics where increases in labor productivity are supposed to lead to increases in wages.

Macroeconomic data from the world’s advanced economies can be mystifying when viewed in isolation. But when analyzed collectively, the data reveal a troubling truth: without changes to how wealth is generated and distributed, the political convulsions that have swept the world in recent years will only intensify.

Consider, for example, wages and employment. In the United States and many European countries, average salaries have stagnated, despite most economies having recovered from the 2008 financial crisis in terms of GDP and job growth.

Moreover, increases in employment have not led to a slowdown or a reversal of the decline in the wage share of total national income. On the contrary, most of the wealth created since the 2008 crisis has gone to the rich. This might explain the low levels of consumption that characterize most advanced economies, and the failure of extremely lax monetary policy to produce an uptick in inflation.

Employment, too, seems to be performing in anomalous ways. Job creation, where it has taken place, has followed a different path than history suggests it should. For example, most employment growth has been in high-skill or low-skill occupations, hollowing out the middle. Many of the people who once comprised the Western middle class are now part of the middle-lower and lower classes, and live more economically precarious lives than ever before.

Productivity growth has also become polarized. According to the OECD, in the last decade, productivity within “frontier firms” – defined as the top 5% of firms in terms of productivity growth – increased by more than a third, whereas the rest of the private sector experienced almost no productivity growth at all. In other words, a smaller number of companies have made greater efficiency gains, but there has been relatively no diffusion of these benefits into the broader economy.

It is unclear why these trends are occurring, although the impact of new technologies and related network effects is certainly part of the reason.

At the macro level, aggregate US productivity has increased by more than 250% since the early 1970s, while hourly wages have remained stagnant. This means that productivity growth has not only been concentrated within a narrow set of firms, but also that productivity and market labor income have decoupled. The fundamental consequence of this is that wages are no longer performing the central redistributive role they have played for decades. Simply put, gains in capital productivity are not being translated into higher median incomes, a breach of the social contract on which liberal economies rest.

It should be evident by now that many of the world’s economies are undergoing some form of structural change, and in the wake of that change, the “jobs-productivity-income” distribution triangle has gone askew. This paradigm shift has led to the erosion of the Western middle class and the rise of the precariat, a new socioeconomic class comprising not just those who cannot find a job, but also those who are informally, casually, or otherwise insecurely employed.

kinsey on bedSo the bad news in the bond market continues. Please read “WILL TRUMP OVERSEE THE FINANCIAL APOCALYPSE?” by William D. Cohan.

Jeffrey Gundlach is known around Wall Street as the Bond King. His Los Angeles-based firm, DoubleLine Capital, manages $116 billion, most of which is invested in bonds. He is also a bit of a Renaissance man, peppering his insights about the credit markets with astute references to Nietzsche, Mondrian, Escher, and Mad magazine covers. That’s why his answer to a simple question—“Why would anyone invest in bonds?”—from someone in the audience at Vanity Fair’s New Establishment Summit, held earlier this month in Los Angeles, was at once both startling and perceptive.

You would think that Gundlach would be a big fan of bonds, given that he’s the Bond King and all. But he isn’t, for reasons that go to the heart of why the financial markets are far more dangerous than the daily highs in the stock market and record-low interest rates would suggest. “I’m not a big fan of bonds right now,” he told my V.F. colleague Bethany McLean at the summit, “and I haven’t been really for the past four years, even though I manage them, and institutions have to own them for various reasons.”

Let’s face it: people’s eyes tend to glaze over when someone starts talking about bonds and interest rates. Which is why much of the audience inside the Wallis Annenberg Center for the Performing Arts, and those watching the livestream, probably missed the import of Gundlach’s answer. But the bond market is hugely important. The stock markets get most of the attention from the media, but the bond market, four times the size of the stock market, helps set the price of money. The bond market determines how much you pay to borrow money to buy a home, a car, or when you use your credit cards.

The Bond King said the returns on bonds have been anemic at best for the past seven years or so. While the Dow Jones Industrial Average has nearly quadrupled since March 2009, returns on bonds have averaged something like 2.5 percent for treasuries and something like 8.5 percent for riskier “junk” bonds. Gundlach urged investors to be “light” on bonds. Of course, that makes the irony especially rich for the Bond King. “I’m stuck in it,” he said of his massive bond portfolio. He said interest rates have bottomed out and been rising gradually for the past six years. (Rising interest rates hurt the value of the bonds you own, as bonds trade in inverse proportion to their yield. Snore . . .) Gundlach said his job now, on behalf of his clients, “is to get them to the other side of the valley.” When the bigger, seemingly inevitable hikes in interest rates come, “I’ll feel like I’ve done a service by getting people through,” he said. “That’s why I’m still at the game. I want to see how the movie ends.”

But it can’t end well.

me and dinah and miles

Okay, so the other complication in my life is my poor mustang isn’t charging and it’s either the starter or the alternator so tomorrow I start out getting it towed and finding out what I can’t afford to have done to it.  (sigh)

Have a good evening!