Thursday Reads

Posted: September 1, 2011 | Author: | Filed under: Economy, jobs, morning reads, Team Obama, U.S. Economy, U.S. Politics, unemployment | Tags: , , , , , , , , , , , , , , , | 35 Comments

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?

The Big Smokey?

Posted: August 31, 2011 | Author: | Filed under: The Media SUCKS, U.S. Politics | Tags: , , , | 19 Comments

So, I have to go to the Daily Mail to really get some good coverage of this since the US  corporate media isn’t quite up to getting to news anywhere in the Great Fly Over.  New Orleans has spent 4 days now in a blanket of nasty white smoke from what was one and now is two marsh fires.  The second marsh fire is more threatening and is supposedly the result of arson.

This incredible image that looks straight out of Star Wars shows how smoke from a raging marsh fire in New Orleans has surrounded the iconic Superdome, as an emergency is declared in the city.

Helicopters are dropping water from 500-gallon baskets, hundreds of acres of land have been burned and now a second marsh fire has started in what is turning into a city-wide disaster.

New Orleans Mayor Mitch Landrieu spotted a second marsh fire during a flight over one that has hazed the metro area with smoke for three days and he has now declared an emergency.

Okay, as of yesterday, we’re beginning to get some attention. It’s not exactly as bad as when I was screaming to every media outlet I could about the BP Oil Spill that all of them ignored for weeks.

Haze from the fire was reported as far west as the Baton Rouge metro area, the National Weather Service said. It expanded its smoke alert from New Orleans and six suburban parishes to 23 parishes, including towns 100 miles from New Orleans.

As of Tuesday morning, the original fire had burned all but about 537 acres — about eight-tenths of a square mile — of the trees, shrubs and grass on a 1,552.5-acre area surrounded by canals, said Ryan Berni, spokesman for Landrieu. It started in the center of the area and has been spreading outward.

“It would take an armada of helicopters” to drop water on it and douse it, said state Rep. Austin J. Badon, Jr., D-New Orleans, who flew over the fires separately from Landrieu.

Landrieu said he was told that each basket of water, when it hits earth, covers an area about the size of a pickup truck.

Along the East Coast, some 40 hot spots in the Great Dismal Swamp were still smoldering even after Hurricane Irene dumped 10 to 15 inches of rain on the area, according to a news release posted Tuesday on the U.S. Fish and Wildlife Service website. That fire that lightning started on Aug. 4 has burned more than 6,000 acres in southeastern Virginia and northeastern North Carolina.

Some New Orleans schools had canceled outdoor activities because of smoke which has spread across the metropolitan area for three days. Meteorologists expected the smoke to move north over Lake Pontchartrain by evening, but to settle over the metro area again overnight.

I’ve had a nearly constant headache and sick feeling since Sunday when I went out to walk the dog through what looked like white fog.  The smell definitely will let you know that this is not fog.  It’s an acrid, nasty smoky smell and its full of particulates.  We’ve had unhealthy air now for several days and the hospitals are filling up with people whose respiratory  ailments cannot handle the excess stress.

What I really want to point your attention to is an appearance by Tulane Professor Melissa Harris Perry as the Guest host of the Rachel Maddow Show on MSNBC.  I can’t pick up the video at the moment so you’ll have to go check it out yourself here.  She explains how this health disaster might be better managed than it is being handled now if we had marsh buggies or the funds to get to big planes to drop substantial amounts of water on the fire.  We don’t have any of those because the state doesn’t have money at the moment.  Yes, a lot of that is due to the fact that our Governor is obsessed with getting his ass ready to run for President 4 years from now and has even vetoed the cigarette tax in the state since it could be used against him as a possible tax increase by the Grover Norquist crowd.

This brings me to the larger topic of Eric Cantor who is insisting that any disaster aid to any of the victims of the flooding in Irene or any place else right now including tornado ravaged Joplin Missouri be offset by spending cuts.  Also, nasty little neoconfederate Ron Paul wants to eliminate FEMA. I have no idea what it’s going to take to get these folks to understand simple things like economies of scale and public goods that exist because the private sector can’t or won’t do it, but you’d think these kinds of disasters would be no-brainers on just the it’s our country and their our people argument.  Cantor isn’t busily cutting off his own but others while Ron Paul thinks the recent response to Galveston flooding was a lot more worse than the horrible Galveston hurricane of 1900 where thousands died.

House Majority Leader Eric Cantor’s (R-Va.) insistence that federal disaster aid be offset elsewhere in the budget runs directly counter to his position in the past when the money went to help his district.

In the summer of 2004, after Tropical Storm Gaston slammed into Richmond, Cantor was on the front lines of efforts to secure millions of dollars in federal assistance to clean the wreckage and repair damaged infrastructure. Although the funding was not offset, Cantor cheered its arrival.

“The magnitude of the damage suffered by the Richmond area is beyond what the Commonwealth can handle,” Cantor said in a news release at the time, “and that is why I asked the president to make federal funds available for the citizens affected by Gaston.”

That episode is raising eyebrows this week, after Cantor told Fox News that disaster aid in the wake of Hurricane Irene should not be funded with borrowed money. Instead, Cantor said Monday, all federal assistance should be offset by cuts elsewhere in the budget.

“Yes, we are going to find the money. We are just going to have to make sure there are savings elsewhere to continue to do so,” Cantor told Fox. “Just like any family would operate when it’s struck with disaster, it finds the money to take care of a sick loved one or what have you, and then goes without trying to buy a new car or [putting] an addition onto the house.”

Yes, Eric, even if the metaphor worked–which it doesn’t–most families do find the money.  They get loans and grants from the Federal Government just in case you didn’t know.  But, back to that metaphor,  when I can print money that every one universally accepts or when I can sell bonds that every one in the world wants at nearly zero interest rates, I’ll get back to you with some support for your lunacy. I can tell you how devastated my grandparents were by the 1927 flood too and how it took them decades to recover because they had no help and were dirt poor too. They had exactly one porcelain pig cream pitcher to show for their first decades of marriage and work and had to crawl out of poverty yet one more time after that flood.

I have no idea what it is going to take to get these neanderthal Republicans out of the 1900s and into the 21st century where we know that evolution is a scientific theory because there is tons of proof and no holes, where we know there is a role for the federal government in creating jobs and jumpstarting a bad economy, where we know that global warming exists and that climate science isn’t a hoax.  I imagine that it’s going to take something of a miracle to get the Koch brothers money and the religious right’s tentacles out of our government, but whatever ever it takes, it’s a battle we need to wage.

Here’s a good example of the problem from Matt Yglesias who for some reason keeps getting lumped in with liberals. It’s a pretty good indicator that progressive is a misnomer and more than just Neanderthal Republicans can jump the shark on public goods.

Suzy Khimm asks, sensibly, “Why are we subsidizing the building of homes in flood-prone areas?”

As she explains, the National Flood Insurance Program offers sub-market insurance rates to people who want to build houses in very flood prone areas. It’d be as if we had a special program to offer subsidized health insurance to people who refuse to wear seatbelts. Sounds nuts? And yet there it is. But I do think it’s important to note that this kind of program, generally the worst kind of thing the federal government does, tends to be totally uncontroversial politically. The National Flood Insurance Program Reextension Act of 2010 was sponsored by a bipartisan group, it passed the filibuster-ridden Senate by unanimous consent on September 21, it passed the House of Representatives on a voice vote on September 23, and was signed into law by President Obama a week later. The lead sponsor of the current Flood Insurance Reauthorization is Senator Roger Wicker, Republican of Mississippi. Amidst fierce ideological debate about the size and scope of the federal government, in other words, there’s no serious budget-cutting move to stop subsidizing people from living in dangerous flood zones.

Risk Theory is not the easiest topic to study unless you love calculus and probabilities.  This is the theoretical basis for insurance and it does explain a lot of things like moral hazard or information asymmetry. Risk theory and basic microeconomics also explains why some public goods are necessary because the private sector won’t provide them or they provide them at such a cost that nearly no one can afford them.  The deal is this.  FEMA does provide flood insurance.  It also provides a plan to folks who repeatedly live in areas that flood with a that plan buys them out or makes them do something to offset the risk–called hazard mitigation–so that these kinds of repetitive losses do not recur on our tax dollars or any one else’s money. But then, journalist memes and lore are so much more fun that facts!! FEMA also provides flood insurance because no private company will do it at a reasonable cost.  Private insurance is basically a Mafia-type gambling activity.  They only provide insurance when there’s a distinct house advantage.  For example, my Allstate homeowner’s insurance policy for which I pay more than I ever used to now has a wind and rain deductible that exactly equals my loss during Katrina.  That’s the only claim I’ve ever had in the 11 years of living here. Also, sit down with me and a beer some time and let me tell you all the things that they were supposed to cover which they never did. FEMA flood insurance provides a small sum of money that would barely cover the rebuilding cost of my small house, should it have flooded.  I know that no one back east that has the insurance is going to get an amount close to rebuilding their house.  Yet, what little they do get will stop them from going into complete personal devastation and that’s the point.  A sum of $250,000 will get you back on your feet a lot quicker than the fisting you’ll get from the good hands people, believe me.

So, my rant is not that an act of lightening set a marsh on fire or that some idiot arsonist compulsively made life a lot worse for a lot more folks for some reason.  It isn’t that that mother nature shouldn’t send floods or prairie fires or hurricanes.  It’s that in a huge country, there are huge risks.  Huge risk pools are only possible when you opt in the population and you go around the private sector that wants to cherry pick its way to executive bonuses.  Economies of scale in standardized processing, ratings, policies and administration is only possible at the public good level.  Same deal goes with health insurance which is something every other developed nation figured out a long time ago.  However, they obviously don’t have to deal with lobbyists and neanderthals and neoconfederates like we do.

Thursday Reads: S & P, the New Madrid Fault, the Gaddafis, and Obama in the Eye of Hurricane Irene

Posted: August 25, 2011 | Author: | Filed under: Foreign Affairs, Libya, MENA, morning reads, Stock Market, The Bonus Class, U.S. Economy, U.S. Politics | Tags: , , , , , , , , , , , , , , | 42 Comments

Good Morning!! I think I have some interesting reading for you today, so let’s get right to it.

Last night I wrote about Goldman CEO Lloyd Blankfein possibly being in trouble with the feds. Interestingly, on Monday another high-profile exec announced he’ll be stepping down. I’m referring to S&P president Deven Sharma. From The New York Times:

The ratings agency Standard & Poor’s said late on Monday that its president, Deven Sharma, who has become the public face of the firm in the wake of its historic downgrade on the United States’ long-term debt rating, will step down and leave the company by the end of the year….

The management change had been in the works for months and was unrelated to either the Justice Department’s inquiry or to the emergence of the activist investors, Jana Partners and the Ontario Teachers Pension Plan, according to people briefed on the matter.

Oh really? Kind of a strange coinky-dink, then, isn’t it?

The ratings agency’s decision to downgrade the United States’ long-term credit rating to AA+ from AAA on Aug. 5 set off a storm of controversy, including criticism by President Obama and Treasury Secretary Timothy F. Geithner. The decision contributed heavily to the worst drop in American stocks since the financial crisis three years ago, as well as volatility that continues to whipsaw the markets weeks later. The other big ratings agencies, Moody’s and Fitch, maintained their top-tier rating on United States debt.

At the same time, the agency is being investigated over whether it improperly rated mortgage securities in the years leading up to the financial crisis. Standard & Poor’s, along with the other major ratings agencies, gave their highest ratings to bundles of troubled loans that appeared less risky during the housing boom, but have since collapsed in value.

Since the financial crisis, the agencies’ business practices and models have been scrutinized by Congress, and Standard & Poor’s is also being investigated by the Justice Department, people briefed on the matter have previously said. At issue is whether the agency’s independent analysis was driven by profits. The Justice Department inquiry, which began before the Standard & Poor’s downgrade of the United States’ debt, is centered on whether analysts’ decisions to assign securities a low credit rating on subprime mortgage loans were overruled by business managers.

Right. I’m sure none of that had anything to do with the president of the troubled company stepping down. /snark

The Financial Times has a piece on the incoming president, Douglas Peterson.

As head of Citigroup’s Japanese operations in 2004, Mr Peterson dramatically bowed in apology before Tokyo regulators after they shut down Citi’s private banking operations there.

Now, as he takes over the embattled ratings agency just weeks after its unprecedented downgrade of US credit, Mr Peterson is likely to find himself before regulators in the US, who are looking into the downgrade and reportedly investigating S&P’s ratings of mortgages before the financial crisis.

Yet, it is Mr Peterson’s experience in Japan, and his more recent turn running Citibank, the retail banking arm of Citigroup, that has given S&P’s owner McGraw-Hill confidence that he is the right man for the job.

Seven years ago, Mr Peterson was given the tricky task of mending relations with Japanese regulators and rebuilding Citi’s tarnished reputation after the US bank’s private banking unit was found to have illegally amassed large profits and was ordered to close down.

By all accounts, the affable Mr Peterson, who is widely described in Tokyo as “nice” and “sincere”, succeeded in reassuring the Financial Service Agency and the Japanese public alike that Citi could once again be trusted with the considerable financial assets of one of the largest economies in the world.

IOW, Peterson has been hired because of his pleasing personality and his ability to make friends and influence people.

But Sean Gregory at Time argues that “A New Leader Won’t Save S&P.”

It’s tempting to read the resignation of Deven Sharma, who stepped down as president of S&P Monday night, as an admission that the rating agency goofed in downgrading the United States’ sovereign rating from AAA to AA+, even as Fitch and Moody’s maintained America’s top grade. Warren Buffett said the U.S. should be rated “quadruple A.” The Treasury department complained that S&P overestimated the nation’s future debt by $2 trillion. Timothy Geithner said that the S&P decision shows “a stunning lack of knowledge about basic U.S. fiscal budget math. And I think they drew exactly the wrong conclusion from this budget agreement.”

Guess Sharma and Geithner won’t be hanging out at any holiday parties. If the S&P downgrade was indeed a mistake, it was an expensive one. In the week after the Aug. 5 S&P downgrade, according to Bloomberg, the market value of global stocks tumbled by $7.6 trillion. Sharma, a former Booz Allen Hamilton consultant who has headed S&P for the past four years, might not be trumping this fact on his newly-polished resume. So you’re the guy who cost the world $7.6 trillion in wealth? You’re hired!

Like FT, Gregory points out that S&P has been shopping for a new leader for months, mostly because Sharma has failed the company in a number of ways. So will a new president make a difference? No, because the ratings agencies simply aren’t qualified to evaluate the credit of sovereign states.

There’s a frightening earthquake story at The Daily Beast: The Quake We Should Fear. Apparently it’s the Midwest that is due for a big one–not the east coast.

Early in the morning of May 16, while most of America was being titillated and transfixed by the appearance in court of the then-suspect Dominique Strauss-Kahn, an urgent message was suddenly received at the headquarters of the Federal Emergency Management Agency (FEMA) in Washington, D.C.

Reports were streaming in of a catastrophic earthquake, magnitude 7.7, that had struck the Midwest near the town of Marked Tree, Ark. First reports were alarming: phenomenal property damage; casualty figures were unprecedented; transportation links were severed; and cities like St. Louis, Memphis, Little Rock, and Cincinnati had been thrown into utter turmoil. Eight states were believed to have been directly affected, and it was thought the death toll would be in the thousands.

A gigantic federal relief mission swung into action. Nine thousand National Guardsmen were ordered to be deployed. Triage centers were opened in all the affected cities—a list that grew longer as a secondary magnitude 6.0 earthquake struck close to the city of Mt. Carmel, Ill. The Red Cross deployed emergency teams. Power companies were given priority to restore electricity and gas supplies. Heavy equipment was sent in to clear highways and railway tracks.

Within 72 hours some kind of order was restored. Hospitals found themselves more able to cope with the vast number of patients suffering injuries. Refugees fleeing in panic were being assembled into special camps. Temporary tent cities were set up along the main refugee routes.

Huh? Oh wait. That was a FEMA exercise. But it was based on the real possibility of a major earthquake on the Madrid fault. It’s happened before and is due to happen again.

This year marks the bicentennial of the great swarm of earthquakes that afflicted New Madrid between December 1811 and February 1812—hundreds of them, day after day, but punctuated by four enormous ruptures, two occurring on Dec. 16, and one each on Jan. 23 and Feb. 7. These caused spectacular effects all across the then young, sparsely settled United States—toppling church steeples in South Carolina, ringing church bells in Boston, causing the Mississippi to reverse it course, and sinking numerous properties deep into the liquefied earths of the prairies.

Yikes! But I’m still worried that Boston hasn’t had a major earthquake since 1755–so we’re probably due also.

Yesterday I came across a couple of interesting stories on Muammar Gaddafi and his son Saif that you might want to check out.

From Scientific American: Egotist Rex: Are a Dictator’s Defiant Statements Indicative of Self-Delusion? It’s an interview with George Washington University Professor of Psychiatry Jerrold Post.

The interviewer asks Post about the many bizarre statements that Gaddafi has made since the rebellion began. He seems out of touch with reality. Is he delusional? Post discusses the circles of sycophants that surround every world leader–this may make it difficult for the leader to see what is really happening outside this protective bubble of supporters.

They can have a very unrealistic understanding and believe, as Qadhafi stated again and again, “My people, they all love me.”

I found this language of his quite remarkable. And with Qadhafi as an exaggerated example, this is true of any of the other leaders, too—namely, they believe they have widespread support. If there are public demonstrations against them, that must reflect outside agitators. This was true with [ousted Egyptian president Hosni] Mubarak as well. He spoke of outside conspiracies.

But it is particularly true of Qadhafi. There is an interesting kind of almost syllogism for him: “My people all love me, and therefore if there is anyone protesting against me, they are not really my people, and that must be a consequence of outside provocation.” And one of the points that he made early on was that this was crazed youth who were on hallucinogens with which their Nescafe had been laced, which I thought was rather creative, really.

I found Qadhafi’s language in general very striking. And what is most interesting about it is it is entirely in the first person singular: “My people all love me. They will support me. My people, they love me.” It was very “me” centered.

Next the interviewer asks whether narcissism is a characteristic of many national leaders? The response could perhaps be applied to someone a little closer to home, if you know what I mean. Check it out.

Vanity Fair has a new article up about Saif Al-Islam Gaddafi. It’s rather long, but here’s the introductory paragraph:

Saif al-Islam Qaddafi—son of Muammar, and long regarded as his heir—was subjected to an arrest warrant months ago by the Criminal Court for crimes against humanity. Libyan rebels in Tripoli reported that he was in custody, but Saif soon appeared in public, rallying what’s left of pro-Qaddafi forces. As NATO bombs fell on Libya, the distinguished international lawyer Philippe Sands sat down with those who know Saif Qaddafi best—a London professor, his Libyan mentor, and the prosecutor who may decide his fate. Saif Qaddafi may claim that he was merely an intermediary, or a force for moderation, or perhaps even a victim. But whatever the claims, according to the prosecutor, he was deeply complicit in his father’s crackdown this year.

Hurricane Irene could become a category 3 sometime today. It’s still predicted to go right up the coast to New England. States all along the east coast are preparing for the worst. Will it hit the Cape and islands? The LA Times suggests President Obama might have to be evacuated.

First, President Obama’s golf game was interrupted by an earthquake. Now, it appears that Hurricane Irene is beating a path toward Martha’s Vineyard, where the president is vacationing with his wife and two daughters.

The National Hurricane Center’s latest forecast shows Hurricane Irene reaching landfall in the Carolinas late Friday and early Saturday before raking its way up the East Coast and into New England. Coastal areas are urged to keep tabs on the storm’s path and remain alert for possible evacuation orders as the hurricane continues to grow in intensity.

It swelled to a Category 3 storm overnight with winds that could exceed 110 mph, and remains on track to gain in strength and ferocity to become a Category 4 hurricane.

Obama is supposed to be in Washington on Sunday to speak at the opening of the Martin Luther King Memorial and then return to the Vineyard. The storm is supposed to hit DC before moving up to Massachusetts.

The eye of the storm appears to be sticking to the coastal outlines, which could spell trouble for Martha’s Vineyard, an island accessible only by boat or plane. As it has done throughout the storm, the National Hurricane Center stresses that the projected path could change dramatically as weather projections come into sharper focus over the next several days.

Hmmm…. Perhaps Mother Nature is trying to send a message to our obtuse leader: Americans need jobs!! Or maybe not.

That’s all I’ve got for you today. What are you reading and blogging about?

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