Monday, June 06, 2011
Mr. Speaker, Where Are The Jobs?
Why Does John Boener Hate America?
What's The Spread?
Hobson's Choice
The U.S. Army Corps of Engineers is flooding Pierre, Fort Pierre, Dakota Dunes and other spots along the Missouri River in South Dakota because the corps is doing the job Congress has required.Those responsibilities, set in federal laws, include flood control storage; supporting navigation; hydro-electricity generation; water supply for communities and industry; irrigation; recreation; and protection of threatened and endangered species.
The corps is being widely faulted these days for its handling of the Missouri River last fall and winter and this spring. The common accusation is the corps should have been releasing more water from the Missouri River reservoirs in the months past.
Sounds good, but here are the facts.
Records show the corps released much more water last fall than in almost any other year since the dam system was strung together in the 1950s and ’60s.
"Dick" Shelby
In April 2010, President Obama nominated me to be one of the seven governors of the Fed. He renominated me in September, and again in January, after Senate Republicans blocked a floor vote on my confirmation. When the Senate Banking Committee took up my nomination in July and again in November, three Republican senators voted for me each time. But the third time around, the Republicans on the committee voted in lockstep against my appointment, making it extremely unlikely that the opposition to a full Senate vote can be overcome. It is time for me to withdraw, as I plan to inform the White House.
The leading opponent to my appointment, Richard C. Shelby of Alabama, the ranking Republican on the committee, has questioned the relevance of my expertise. “Does Dr. Diamond have any experience in conducting monetary policy? No,” he said in March. “His academic work has been on pensions and labor market theory.”
But understanding the labor market — and the process by which workers and jobs come together and separate — is critical to devising an effective monetary policy. The financial crisis has led to continuing high unemployment. The Fed has to properly assess the nature of that unemployment to be able to lower it as much as possible while avoiding inflation. If much of the unemployment is related to the business cycle — caused by a lack of adequate demand — the Fed can act to reduce it without touching off inflation. If instead the unemployment is primarily structural — caused by mismatches between the skills that companies need and the skills that workers have — aggressive Fed action to reduce it could be misguided.
So I'm thinking, "Hmmmmmmmm, here's a guy who would bring a fresh perspective to the Federal Reserve Board. Someone who wasn't a bankster. Someone who had a grip on what it's like to actually be a tax-paying worker bee in the Great Transfer Of Wealth that is the American capitalist system.
But Dick thinks differently, you see. Dick believes that someone who can actually bring to the Board a fresh perspective might somehow damage his dry cleaning empire (not a joke). Or that somehow stopping a Fed nomination would force the White House to pony up for a couple of pork barrel projects for his district, like an unneeded refueling aircraft or an FBI counterterrorism center located in that bustling hive of terror targets, Alabama (except maybe Huntsville, which is military anyway, and not in need of much protection).
No, Dick believes in the antiBenthamian credo of the needs of the few override the needs of everyone. I'm not suggesting that Dr. Diamond is the nation's economic salvation, no, but he certainly could help the Fed break out of the morass of bureacratic concrete thinking that it's currently invested in, and let a little fresh air into the Board room.
Dick would rather game theory our lives.
Andrew Malcom: Moron
[Revere] who warned the British that they weren't gonna be takin' away our arms, uh, by ringin' those bells and, um, makin' sure as he's ridin' his horse through town to send those warning shots and bells that we're gonna be secure and we were gonna be free. And we we're gonna be armed.
Friday, June 03, 2011
Jim Hoft, Dick
Nobody Asked Me, But...
Thursday, June 02, 2011
Weiner Is Safe
Creepy
Today's Panic Moment
Pity The Mitt
Ok, Then!
*facepalm*
Admitting A Truth
The Global Commission on Drug Policy report calls for the legalisation of some drugs and an end to the criminalisation of drug users.
The panel includes former UN Secretary General Kofi Annan, the former leaders of Mexico, Colombia and Brazil, and the entrepreneur Sir Richard Branson.
The US and Mexican governments have rejected the findings as misguided.
The Global Commission's 24-page report argues that anti-drug policy has failed by fuelling organised crime, costing taxpayers millions of dollars and causing thousands of deaths.
It cites UN estimates that opiate use increased 35% worldwide from 1998 to 2008, cocaine by 27%, and cannabis by 8.5%.
No doubts the jump in usage is coincident to the increase in worldwide wealth gained from American companies outsourcing American jobs to countries that pay less than American wages, thus bringing to those countries the uniquely American problem of work-related stress disorders.
I'm very much on the fence about this. Some drugs, opiates in particular, have a track record that is, well, less than ideal for introduction into society legally. Most are on prescription as having medical uses, and it seems to me that this might be the way to go for these classes of drugs: expand the prescriptive framework. Allow doctors to prescribe them more often for uses that people are already abusing them for, but with strict monitoring and follow up. Hell, we administer Prozac and Ritalin as if they were candy to any yahoo who can persuade a psychologist that his boredom or sheer idiocy is symptomatic of some disorder that sees sixteen squirrels running around his brain.
To coin a scenario.
Yes, there will be blindspots and oversights and people will slip thru the cracks but it almost certainly has to be better than having near-100% illegality. The current situation is untenable. Too, it creates shortages of medications that people actually need (try getting a box of Sudafed someday.)
On the other hand lie drugs that are clearly over-protected, that have a more benign history, that rightly could and maybe should take their places alongside such mood-altering substances as alcohol, tobacco, caffeine and sugar.
Indeed, that last may be triggering an awful lot of excuses people have for medicating. Overmedicating with sugar leads to obesity, depression, and sleep disorders, among other effects.
If all these are going to be basically un- and at least under-regulated, then other substances like marijuana deserve "a day in court": serious study for legalization, and if not, then full decriminalization.
Too, from an economic standpoint, lifting the war on drugs would improve Third World economies enormously, not least from simply avoiding destruction of valuable farmland and the price that crime and criminals take out of a native population. Imagine Mexican farmers growing pot without worrying which drug cartel is in charge and what happens if another muscles in. Or perhaps the price of marijuana will drop enough that they plant a food crop instead.
It sure as hell would make our borders more secure, too.
Wars on nebulosities, like poverty or drugs or terrorism, inevitably butt up against a simple truth: where is the finish line?
In the case of poverty, the finish line was arbitrarily drawn by the haters at five years, and you'd better have your act together by then. That maybe the only war that we can control, because people in poverty don't want to be in poverty and will work with us to beat their own poverty back if given the opportunity.
People who supply drugs or terror are antithetical to the goals of those "wars": they want the war to lose. And if they can make us spend the energy and resources to beat them, even if we succeed, another crop will rise up to take its place. It is neverending war, by definition.
In the case of terror, the answer is simple. As Peter Gabriel once famously observed, you only achieve true security and peace by respecting the rights of others. There will still be terror attacks, true. For a while. Until the strength of a peaceful nation shows not in retaliation but in resilience. Once terrorists realize they can't do enough harm to topple us, they'll leave it be.
The case of the war on drugs, I think, is best won by admitting there really wasn't a war to begin with, that it was a marketing plan cooked up by people who were shocked that other people were having fun. Once we get over that hurdle and start to look into the causes of the use of drugs, we will have taken a large step in the direction of civilization.
Wednesday, June 01, 2011
Hmmmmmmmmmm...
The Huntsman's Pack
I admire Congressman Paul Ryan's honest attempt to save Medicare. Those who disagree with his approach incur a moral responsibility to propose reforms that would ensure Medicare's ability to meet its responsibilities to retirees without imposing an unaffordable tax burden on future generations of Americans.
OK, you've laid the gauntlet down. Here's my solution. It will guarantee the solvency of Medicare in perpetuity and will actually lower medical costs for everyone.
I'll go slowly, so even a yahoo like yourself can keep up with me, K?
Expand. It. To. Cover. E.V.E.R.Y.B.O.D.Y!
You like apples? How do you like those apples?
Seriously, these half-hearted efforts to reform health insurance are both ludicrous and leave us the laughingstock of the civilized world. Let's get to single-payer insurance, lift the ban on Medicare's ability to negotiate costs, and make the insurance companies compete in a free market.
That's all, John. You may resume your demagoguery.
The Flag As Advertising
"This is not a campaign bus," she [Sarah Palin] said on Fox News. "This is a bus to express to American how much we appreciate our foundation and to invite more people to be interested about all that is good about America." It all sounds like a wonderful commitment to American values and American history, but it's nothing of the kind. In fact, the whole thing could be in breach of a federal law because the United States Flag Code establishes important rules for the use and display of the stars and stripes, the flag of the United States. Under standards of respect and etiquette, it's made clear that the flag of the United States should never be used for any advertising purpose whatsoever. Yet that's precisely what Sarah Palin is doing. She's using the flag of the United States for her own financial purposes. She drapes herself in the stars and stripes and makes millions of dollars in the process. This has got nothing to do with the presidency and everything to do with filling her pockets. And by raising her profile, she raises her income. It is as simple as that.
Tsk, Tsk, Governor!
Winter In America
From the Indians who welcomed the pilgramsto the buffalo who once ruled the plains;
like the vultures circling beneath the dark clouds
looking for the rain/looking for the rain.From the cities that stagger on the coast lines
in a nation that just can't take much more/
like the forest buried beneath the highwaysnever had a chance to grow/never had a chance
to grow.It's winter, winter in america
and all of the healers have been killed or forced
away.
It's winter, winter in america
and ain't nobody fighting 'cause nobody knows
what to save.
The con-stitution was a noble piece of paper;
with Free Society they struggled but they died in
vain/
and now Democracy is ragtime on the corner
hoping that it rains/hoping that it rains.And I've seen the robins perched in barren
treetops
watching last ditch racists marching across the
floor
and like the peace signs that melted in our
dreams
never had a chance to grow/never had a
chance to grow.
It's winter, winter in america
and all of the healers done been killed or put in
jail
it's winter, winter in america
and ain't nobody fighting 'cause nobody knows
what to save.
Karma Is A Bitch
Here We Go Again!
The total value of derivatives in the world exceeds total global gross domestic product, creating volatility and crisis in stock markets, Mobius told reporters in Tokyo today.
"Are the bank bigger than they were before? They're bigger," Mobius said. "Are the derivatives regulated? No. Are you still getting growth in derivatives? Yes."
The global financial crisis three years ago was caused in part by the proliferation of derivative products tied to U.S. subprime loans and contributed to the collapse of Lehman Brothers Holdings Inc. in September 2008
A Spanking In The Works
House Republicans will head to the White House Wednesday for their first conference meeting with President Barack Obama, as Congress gears up for a battle over raising the nation’s borrowing limit.
The meeting, which will take place in the White House’s East Room Tuesday morning, will be the president’s first full introduction to the House Republican Conference.
In advance of the meeting, Speaker John Boehner’s (R-Ohio) staff released a statement signed by 150 economists arguing that Congress should offset the debt ceiling hike with spending cuts. Boehner himself took that position in a speech last month to the Economic Club of New York. The statement is expected to come up at the meeting with Obama.
“An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms to address our government’s spending addiction will harm private-sector job creation in America,” the statement read. “It is critical that any debt limit legislation enacted by Congress include spending cuts and reforms that are greater than the accompanying increase in debt authority being granted to the president.”
First, I'm curious to know what Obama's retort will be. I can think of about 200 economists who would, correctly, argue that cutting spending when jobs are needed is a horrible idea.
TRANSLATION: those GOP economists are fucking loons.

