July 2012 archive

Jul 03 2012

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Follow us on Twitter @StarsHollowGzt

New York Times Editorial: Rigged Rates, Rigged Markets

Marcus Agius, the chairman of Barclays, resigned on Monday, saying “the buck stops with me.” His was the first departure since the British bank agreed last week to pay $450 million to settle findings that, from 2005 to 2009, it had tried to rig benchmark interest rates to benefit its own bottom line. [..]

The rates in question – the London interbank offered rate, or Libor, and the Euro interbank offered rate, or Euribor – are used to determine the borrowing rates for consumers and companies, including some $10 trillion in mortgages, student loans and credit cards. The rates are also linked to an estimated $700 trillion market in derivatives, which banks buy and sell on a daily basis. If these rates are rigged, markets are rigged – against bank customers, like everyday borrowers, and against parties on the other side of a bank’s derivatives deals, like pension funds.

Robert Kuttner: Mitigating Merkel’s Mischief

If Europe continues its steady march to financial depression and collapse of the Euro, no politician will be more to blame than German Chancellor Angela Merkel. Last week, Merkel repeated the same pattern that has characterized her behavior since the sovereign debt crisis began — resisting sensible reforms until the costs of delay became overwhelming, and then reversing course 180 degrees only after the damage was far greater than necessary. [..]

Merkel, characteristically, still opposes any respite for the suffering Greeks. It is up to the rest of Europe to isolate her again so that she can reverse course citing changed circumstances. Nor is Merkel willing to seriously rein in the financial speculation against government bonds that turns moderate budgetary problems into dire crisis. This, too, will take the resolve of wiser leaders.

Robert Reich: Mitt Romney and the New Gilded Age

The election of 2012 raises two perplexing questions. The first is how the GOP could put up someone for president who so brazenly epitomizes the excesses of casino capitalism that have nearly destroyed the economy and overwhelmed our democracy. The second is why the Democrats have failed to point this out. [..]

Part of the answer, surely, is that elected Democrats are still almost as beholden to the wealthy for campaign funds as the Republicans, and don’t want to bite the hand that feeds them. Wall Street can give most of its largesse to Romney this year and still have enough left over to tame many influential Democrats (look at the outcry from some of them when the White House took on Bain Capital).

Dean Baker: A Wall Street Gambling Tax: The Remedy to Inequality

As the presidential election builds up steam, the Washington elites in both parties are actively scheming to find ways to cut Social Security and Medicare benefits for retired workers. The media have widely reported on efforts to slip through a version of the deficit reduction plan developed by Morgan Stanley director Erskine Bowles and former Senator Alan Simpson. Since the vast majority of voters across the political spectrum reject cuts to these programs, the Washington insiders hope to spring this one on us after the election, when the public will have no say.

That is the sort of anti-democratic behavior we expect from elites who naturally want to protect their own interests. Of course, the rest of us are more concerned about the well-being of the country as a whole rather than preserving the wealth of the richest 1 percent.

Mark Weisbrot: For Mexicans, It Was the Economy, Stupid

IF ever there were an election preordained as a result of economic performance, it would be Mexico’s election on Sunday. The ruling National Action Party, or PAN, was destined to lose because it had presided over profound economic failure for 11 years. Almost any government in world would have lost under such circumstances.

Commentators, focused on the six-year-old drug war, have largely neglected to note the depth of Mexico’s economic problems. Let’s start with the basics: Since 2000, when the PAN was first elected, income per person in Mexico has grown by just 0.9 percent annually. This is terrible for a developing country, and less than half the rate of growth of the Latin American region during this period – which was itself not stellar. If we just look at per capita growth since the last election, in 2006, Mexico finishes dead last of all the countries in Latin America.

George Zornick: Tea Party Govs Say ‘No’ to Medicaid Expansion

Nearly 1 million Floridians will be denied access to Medicaid they would have otherwise received under the Affordable Care Act if Governor Rick Scott gets his way. The Supreme Court ruling last week on the law made it easier for states to opt out of an expansion, and Sunday night the governor’s office e-mailed a statement from Scott that “since Florida is legally allowed to opt out, that’s the right decision for our citizens.” [..]

But now hospitals in South Carolina and Florida are looking at a rate reduction without the corresponding increase in Medicaid coverage.

Hospital lobbies are always powerful in state politics, and could yet convince state legislators to buck the ideological governors and support an expansion. Combine the big industry money with a powerful narrative about denying coverage to hundreds of thousands of people, plus the diminishing returns of rallying against Obamacare-particularly after the fall elections-and by 2014 it’s possible Florida, South Carolina and other states will end up participating. They’re just going to make a lot of noise first.

Jul 03 2012

The 1st Amendemnt v United States Government

The past Sunday constitutional lawyer and contributing editor at Salon.com Glenn Greenwald appeared with Chris Hayes on MSNBC’s “Up with Chis Hayes”to discuss the history of anonymous speech in politics and debate whether spending money is an exercise of free speech. The other guests on the panel are Maria Hinojosa, anchor of NPR’s Latino USA and president of Futuro Media Group; Rep. Peter Welch, Democrat of Vermont and member of the House Oversight and Government Reform Committee; and Heather McGhee, vice president of policy and research at the progressive think tank Demos.

Glenn also penned a scathing piece on Sen. Diane Feinstein’s (D-CA) attack on our First Amendment rights using, oh noes!, Terror! as an excuse. Glenn makes the point that Feinstein’s outrage over Julian Assange and Wikileaks is tantamount to an attack of freedom of the press.

Dianne Feinstein targets press freedom

The supreme Senate defender of state secrecy and the Surveillance State, California Democrat Dianne Feinstein, yesterday issued a statement to Australia’s largest newspaper, The Sydney Morning Herald, demanding (once again) the prosecution of WikiLeaks and Julian Assange. To see how hostile Feinstein is to basic press freedoms, permit me to change “Assange” each time it appears in her statement to “The New York Times“:

   The head of the US Senate’s powerful intelligence oversight committee has renewed calls for [The New York Times] to be prosecuted for espionage. . . .

   “I believe [The New York Times] has knowingly obtained and disseminated classified information which could cause injury to the United States,” the chairwoman of the Senate Select Committee on Intelligence, Dianne Feinstein, said in a written statement provided to the Herald. “[It] has caused serious harm to US national security, and [] should be prosecuted accordingly.”

As EFF’s Trevor Timm noted, there is no sense in which Feinstein’s denunciation applies to WikiLeaks but not to The New York Times (and, for that matter, senior Obama officials). Indeed, unlike WikiLeaks, which has never done so, The New York Times has repeatedly published Top Secret information. That’s why the prosecution that Feinstein demands for WikiLeaks would be the gravest threat to press freedom and basic transparency in decades. Feinstein’s decades-long record in the Senate strongly suggest that she would perceive these severe threats to press freedom as a benefit rather than drawback to her prosecution designs.

Under Sen. Feinstein’s premise we should have prosecuted Woodward and Bernstein and every other reporter who has exposed government wrong doing. I wonder is she would like to take on Dick Cheney for outing a CIA agent to get us into a war based on a lie, the consequences of which we will never know.  

Jul 03 2012

Everyone is looking for an edge

I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they’ve always worked for me.

– Stockton

Jul 03 2012

On This Day In History July 3

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

Click on images to enlarge.

July 3 is the 184th day of the year (185th in leap years) in the Gregorian calendar. There are 181 days remaining until the end of the year.

On this day in 1863, Battle of Gettysburg ends

On the third day of the Battle of Gettysburg, Confederate General Robert E. Lee’s last attempt at breaking the Union line ends in disastrous failure, bringing the most decisive battle of the American Civil War to an end.

Third day of battle

General Lee wished to renew the attack on Friday, July 3, using the same basic plan as the previous day: Longstreet would attack the Federal left, while Ewell attacked Culp’s Hill. However, before Longstreet was ready, Union XII Corps troops started a dawn artillery bombardment against the Confederates on Culp’s Hill in an effort to regain a portion of their lost works. The Confederates attacked, and the second fight for Culp’s Hill ended around 11 a.m., after some seven hours of bitter combat.

Lee was forced to change his plans. Longstreet would command Pickett’s Virginia division of his own First Corps, plus six brigades from Hill’s Corps, in an attack on the Federal II Corps position at the right center of the Union line on Cemetery Ridge. Prior to the attack, all the artillery the Confederacy could bring to bear on the Federal positions would bombard and weaken the enemy’s line.

Around 1 p.m., from 150 to 170 Confederate guns began an artillery bombardment that was probably the largest of the war. In order to save valuable ammunition for the infantry attack that they knew would follow, the Army of the Potomac’s artillery, under the command of Brig. Gen. Henry Jackson Hunt, at first did not return the enemy’s fire. After waiting about 15 minutes, about 80 Federal cannons added to the din. The Army of Northern Virginia was critically low on artillery ammunition, and the cannonade did not significantly affect the Union position. Around 3 p.m., the cannon fire subsided, and 12,500 Southern soldiers stepped from the ridgeline and advanced the three-quarters of a mile (1,200 m) to Cemetery Ridge in what is known to history as “Pickett’s Charge”. As the Confederates approached, there was fierce flanking artillery fire from Union positions on Cemetery Hill and north of Little Round Top, and musket and canister fire from Hancock’s II Corps. In the Union center, the commander of artillery had held fire during the Confederate bombardment, leading Southern commanders to believe the Northern cannon batteries had been knocked out. However, they opened fire on the Confederate infantry during their approach with devastating results. Nearly one half of the attackers did not return to their own lines. Although the Federal line wavered and broke temporarily at a jog called the “Angle” in a low stone fence, just north of a patch of vegetation called the Copse of Trees, reinforcements rushed into the breach, and the Confederate attack was repulsed. The farthest advance of Brig. Gen. Lewis A. Armistead’s brigade of Maj. Gen. George Pickett’s division at the Angle is referred to as the “High-water mark of the Confederacy”, arguably representing the closest the South ever came to its goal of achieving independence from the Union via military victory.

There were two significant cavalry engagements on July 3. Stuart was sent to guard the Confederate left flank and was to be prepared to exploit any success the infantry might achieve on Cemetery Hill by flanking the Federal right and hitting their trains and lines of communications. Three miles (5 km) east of Gettysburg, in what is now called “East Cavalry Field” (not shown on the accompanying map, but between the York and Hanover Roads), Stuart’s forces collided with Federal cavalry: Brig. Gen. David McMurtrie Gregg’s division and Brig. Gen. Custer’s brigade. A lengthy mounted battle, including hand-to-hand sabre combat, ensued. Custer’s charge, leading the 1st Michigan Cavalry, blunted the attack by Wade Hampton’s brigade, blocking Stuart from achieving his objectives in the Federal rear. Meanwhile, after hearing news of the day’s victory, Brig. Gen. Judson Kilpatrick launched a cavalry attack against the infantry positions of Longstreet’s Corps southwest of Big Round Top. Brig. Gen. Elon J. Farnsworth protested against the futility of such a move but obeyed orders. Farnsworth was killed in the attack, and his brigade suffered significant losses.

Jul 03 2012

2012 Le Tour – Stage 3

Orchies / Boulogne-sur-Mer (123 miles)

Le.  Tour.  De.  France.

No retirements so far though some riders are dealing with injuries.  The problem is that once you stop, you stop.

The Mad Manx racked up another stage win.

Probably not today though, Jean-François Pescheux the official site handicapper thinks it is highly unlikely that there will be any Sprinters around at the finish what with the 4 category 4 and 2 category 3 climbs.  There will be a mid stage point award.

In the General Classification there isn’t much movement of the top ten.  As I was working on yesterday’s piece I realized that deltas after each stage were hard to locate unless you captured them at the time.  I’ve got the data for the Prologue and Stages so far and I’ll post them with the pretty tables as soon as I can get the formatting done.

General Classification

Place Rider Team Time/Delta
1 CANCELLARA Fabian RADIOSHACK-NISSAN 10:02:31
2 WIGGINS Bradley SKY PROCYCLING +00:07
3 CHAVANEL Sylvain OMEGA PHARMA-QUICK STEP +00:07
4 VAN GARDEREN Tejay BMC RACING TEAM +00:10
5 BOASSON HAGEN Edvald SKY PROCYCLING +00:11
6 MENCHOV Denis KATUSHA TEAM +00:13
7 GILBERT Philippe BMC RACING TEAM +00:13
8 EVANS Cadel BMC RACING TEAM +00:17
9 NIBALI Vincenzo LIQUIGAS-CANNONDALE +00:18
10 HESJEDAL Ryder GARMIN-SHARP-BARRACUDA +00:18

Coverage is customarily on Vs. (NBC Sports) starting at 8 am with repeats at 8 pm and midnight.  There will be some streaming evidently, but not all of it is free.

Sites of Interest-

The Stars Hollow Gazette Tags-

Pretty tables-

Jul 02 2012

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Follow us on Twitter @StarsHollowGzt

New York Times Editorial: The Radical Supreme Court

The Supreme Court’s landmark decision upholding the Affordable Care Act was a deft turn by Chief Justice John Roberts Jr., who voted with the court’s four moderate liberals for the first time in a 5-to-4 ruling. Yet, while they upheld the law’s mandate for individuals to buy insurance under Congress’s taxing power, the chief justice joined the four other conservatives to reject that provision under the Constitution’s commerce clause.

That rejection underscores the aggressiveness of the majority’s conservatism and marks a stunning departure from the long-established legal consensus that Congress has broad power to regulate the economy.

Paul Krugman: Europe’s Great Illusion

Over the past few months I’ve read a number of optimistic assessments of the prospects for Europe. Oddly, however, none of these assessments argue that Europe’s German-dictated formula of redemption through suffering has any chance of working. Instead, the case for optimism is that failure – in particular, a breakup of the euro – would be a disaster for everyone, including the Germans, and that in the end this prospect will induce European leaders to do whatever it takes to save the situation.

I hope this argument is right. But every time I read an article along these lines, I find myself thinking about Norman Angell.

Who? Back in 1910 Angell published a famous book titled “The Great Illusion,” arguing that war had become obsolete. Trade and industry, he pointed out, not the exploitation of subject peoples, were the keys to national wealth, so there was nothing to be gained from the vast costs of military conquest.

Joseph E. Stiglitz: How policy has contributed to the great economic divide

The United States is in the midst of a vicious cycle of inequality and recession: Inequality prolongs the downturn, and the downturn exacerbates inequality. Unfortunately, the austerity agenda advocated by conservatives will make matters worse on both counts.

The seriousness of America’s growing problem of inequality was highlighted by Federal Reserve data released this month showing the recession’s devastating effect on the wealth and income of those at the bottom and in the middle. The decline in median wealth, down almost 40 percent in just three years, wiped out two decades of wealth accumulation for most Americans. If the average American had actually shared in the country’s seeming prosperity the past two decades, his wealth, instead of stagnating, would have increased by some three-fourths.

In some ways the data confirmed what was already known, but the numbers still shocked. We knew that house prices – the principal source of saving for most Americans – had declined precipitously and that trillions of dollars in home equity had been wiped out. But unless we understand the link between inequality and economic performance, we risk pursuing policies that will worsen both.

Devon G. Peña: Fear & Loathing in Texas: State Republican Party Seeks to Ban Critical Thinking in Public Schools

Platform Prohibits Teach Higher Order Thinking Skills

What is it about the political rightwing in the Lone Star State? It seems like they are now competing with Arizona to take the lead as the nation’s most anti-education and anti-intellectual state.

Here is the actual language from a position statement in the 2012 Texas Republican Party Platform:

   “Knowledge-Based Education – We oppose the teaching of Higher Order Thinking Skills (HOTS) (values clarification), critical thinking skills and similar programs that are simply a relabeling of Outcome-Based Education (OBE) (mastery learning) which focus on behavior modification and have the purpose of challenging the student’s fixed beliefs and undermining parental authority.”

Where does this Republican fear of critical thinking come from? One would have to surmise it may be derived from two sources: Either (1) they learned some nifty reactionary ideas from the Arizona struggle against HB2281, the law banning the teaching of Chicana/o Studies in public schools, or (2) they understand that Texas public schools are now filled with a majority of minority [sic] students, most of them Mexican-origin, and it may not be a good idea to encourage them to become anything other than servants of the 1% by denying them anything but rote learning and vocational educations.

Robert Sheer: Supreme Court Leaves Romney in the Cold

Mitt Romney is an idiot or, even worse, is pretending to be one. His tantrum of a response on Thursday to the Supreme Court’s health care decision was pure playground: As president I will own the ball, and the game will be played by rules that leave me a winner.

That game has already been called in a decision written by the top-ranking conservative jurist, and shorn of the constitutional objection; Barack Obama’s health care plan now will be judged by its practical outcomes. Romney’s promise that “I will act to repeal Obamacare” from “my first day as president of the United States” is a prescription of destructive gridlock for a program already well under way.

By immediately committing to reverse a health care reform based on the very program he implemented as governor of Massachusetts, Romney has gone to war with himself. Obviously, neither he nor his advisers has yet grasped that the decision written by Chief Justice John Roberts has changed the terms of the debate.

Roger Bybee: Dems Paint Romney as “Outsourcer-In-Chief,” But Will Obama’s Trade Deal Blow It?

The Obama administration and Democrats have been busily puncturing Mitt Romney’s record as an experienced “job creator,” with a multi-pronged attack on Romney’s role as a “pioneer” in offshoring jobs while heading up the private-equity fund Bain Capital.

Backed up by an ever-mounting supply of evidence from the New York Times, Boston Globe, and the Washington Post, Obama and the Democrats have shredded Rommey’s arguments that he is the man to restore employment.

Yet recent leaks reveal that the Obama administration has been secretly negotiating with Pacific Rim nations the Trans-Pacific Partnership (TPP) trade deal, based on the job-destroying NAFTA model. Obama-as with his trade deals last year with South Korea, Panama, and human-rights pariah Colombia-is once more falling into line behind CEOs in promoting what he as a candidate fiercely denounced in 2008 as “trade deals like NAFTA and China [that] have been signed with plenty of protections for corporations and their profits, but none for our environment or our workers who’ve seen factories shut their doors and millions of jobs disappear.

Jul 02 2012

On This Day In History July 2

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

Click on images to enlarge.

July 2 is the 183rd day of the year (184th in leap years) in the Gregorian calendar. There are 182 days remaining until the end of the year.

It is the midpoint of a common year. This is because there are 182 days before and 182 days after (median of the year) in common years, and 183 before and 182 after in leap years. The exact time in the middle of the year is at noon, or 12:00. In the UK and other countries that use “Summer Time” the actual exact time of the mid point in a common year is at (1.00 pm) 13:00 this is when 182 days and 12 hours have elapsed and there are 182 days and 12 hours remaining. This is due to Summer Time having advanced the time by one hour. It falls on the same day of the week as New Year’s Day in common years.

On this day in 1964, U.S. President Lyndon B. Johnson signs into law the historic Civil Rights Act in a nationally televised ceremony at the White House.

In the landmark 1954 case Brown v. Board of Education, the U.S. Supreme Court ruled that racial segregation in schools was unconstitutional. The 10 years that followed saw great strides for the African-American civil rights movement, as non-violent demonstrations won thousands of supporters to the cause. Memorable landmarks in the struggle included the Montgomery bus boycott in 1955–sparked by the refusal of Alabama resident Rosa Parks to give up her seat on a city bus to a white woman–and Martin Luther King, Jr.’s famous “I have a dream” speech at a rally of hundreds of thousands in Washington, D.C., in 1963.

The Civil Rights Act of 1964 (Pub.L. 88-352, 78 Stat. 241, enacted July 2, 1964) was a landmark piece of legislation in the United States that outlawed major forms of discrimination against blacks and women, including racial segregation. It ended unequal application of voter registration requirements and racial segregation in schools, at the workplace and by facilities that served the general public (“public accommodations”). Powers given to enforce the act were initially weak, but were supplemented during later years. Congress asserted its authority to legislate under several different parts of the United States Constitution, principally its power to regulate interstate commerce under Article One (section 8), its duty to guarantee all citizens equal protection of the laws under the Fourteenth Amendment and its duty to protect voting rights under the Fifteenth Amendment.

Jul 02 2012

2012 Le Tour – Stage 2

Visé – Tournai (129 miles)

Le.  Tour.  De.  France.

Well, if you’re rooting for one of the 135 riders that are now more than a minute down you have my official permission to panic.  Given the tight bunching and mass timing during the flatter stages it will be hard to make that up.

This one is Kansas flat.

You may think Menchov and Gilbert put on moves yesterday, but what happened is that Lancaster and Gretsch fell back.

Now there’s always the possibility of flaming chunks of twisted metal to keep you amused as well as the spectacular scenery.  One category 4 climb and a point award.  It should be routine and restful except that it’s rare for there not to be some early breakdowns.

Sprinters will be featured and everyone will be looking at Cavendish for a good finish.

General Classification

Place Rider Team Time/Delta
1 CANCELLARA Fabian RADIOSHACK-NISSAN 05:05:32
2 WIGGINS Bradley SKY PROCYCLING +00:07
3 CHAVANEL Sylvain OMEGA PHARMA-QUICK STEP +00:07
4 VAN GARDEREN Tejay BMC RACING TEAM +00:10
5 BOASSON HAGEN Edvald SKY PROCYCLING +00:11
6 MENCHOV Denis KATUSHA TEAM +00:13
7 GILBERT Philippe BMC RACING TEAM +00:13
8 EVANS Cadel BMC RACING TEAM +00:17
9 NIBALI Vincenzo LIQUIGAS-CANNONDALE +00:18
10 HESJEDAL Ryder GARMIN-SHARP-BARRACUDA +00:18

Coverage is customarily on Vs. (NBC Sports) starting at 8 am with repeats at noon, 8, and midnight.  There will be some streaming evidently, but not all of it is free.

Sites of Interest-

The Stars Hollow Gazette Tags-

Pretty tables-

Jul 02 2012

Pique the Geek 20120701: Fireworks Safety

This time of year I generally write about fireworks since they are integral to the celebration of Independence Day.  I have written some rather technical pieces in the past, so this time I thought that it might be a good idea to write about some safety factors that users of consumer fireworks should observe.  Even though consumer fireworks are designed to minimize risk of injury, there is a finite probability that accidents and injuries will occur.

Many of you know how much I enjoy the music of The Who, and I shall work them into this piece.  It happens to involve one of the most treacherous pyrotechnic composition, flash powder.  In a former life, I was a professional pyrotechnician, and I am still scared of flash powder.

Many accidents involving consumer fireworks are either personal injuries caused by negligence (often alcohol fueled), ignorance, or bravado (also often alcohol fueled).  Many other accidents involving these products have to do with unintentional fires cause by firework use, storage, or transport.

Jul 02 2012

Sunday Train: Is State Sen. Simitian aiming to kill High Speed Rail in California?

Burning the Midnight Oil for Living Energy Independence

This coming week is supposed to contain an important symbolic Independence Day: the day when the California State Senate votes whether or not to proceed with one strategic element of Energy Independent Transport for the State of California, or whether to gamble the state’s future on petroleum.

It is, of course, a very sure thing as a gamble ~ on the losing side. They aren’t making more, and the butane from natural gas liquids and energy inefficient production of ethanol from corn starch that has been used to juke the states on US “liquid fuel production” doesn’t change the fact that we still depend on petroleum imports for over half of our petroleum consumption. We deplete more and more low production cost petroleum every year, shifting our consumption to higher cost petroleum.

And even if we had the petroleum that Pollyannas would like to wish into existence, we can’t afford to burn it all at an accelerating rate, due to the CO2 emissions that will result.

State Senator Simitian does not seem to see it that way, as he appears set to vote kill the effort to allow the California High Speed Rail project to break ground next year.

Now, in an wonderful display of political pretzel logic, State Senator Simitian threatens to kill the HSR project will declaring his strong support of it: it will all be someone else’s fault if he votes to refuse to break ground next year.

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