January 2013 archive

Bananas, Part 1

I think Mr. Mellish is a traitor to this country because his views are different from the views of the President and others of his kind. Differences of opinion should be tolerated, but not when they’re too different. Then he becomes a subversive mother.

Why The Fight Over The $1 Trillion Coin Is The Most Important Fiscal Policy Debate You’ll Ever See In Your Life

Joe Weisenthal, Business Insider

Jan. 8, 2013, 12:33 PM

(C)ontrary to all these people who say that this is a childish, non-adult proposal put forth by impish trolls, it’s actually quite the opposite. It may be the most important fiscal policy debate you’ll ever seen in your lifetime, because it gets right to the nature of what is money.

This question is central to any discussion about a country’s monetary and fiscal policy, and yet it’s almost never discussed, and virtually nobody understands it.

Almost everyone talking about fiscal policy imagines money to be a commodity of sorts that we can “run out” of if we don’t spend it carefully. In this sense, although we’ve long gotten rid of the gold standard, we’re still shackled with a gold standard mentality, where we think of money as a scarce natural resource that we need to husband carefully, lest one day the bond vigilantes show up at our door, causing us to go broke.

Now the reason I started writing this piece by talking about bananas is that I thought they were sufficiently arbitrary and ridiculous to attract your attention but I had to abandon that since they’re actually much more useful than money- you can eat them and then you’re only dealing with surplus bananas over and above Foster so please ignore any bananas that creep in and mentally substitute Yap Stones or Higgs Bosons that have a slightly different electron voltage.

You see the thing about money is that its only value except as a decorative object is that the government accepts it as payment and (at least in the United States) private vendors are also compelled to accept it as payment for goods or services offered by contract (every transaction is a contract) if the contract is written (the good or service is offered) using money as a medium of exchange instead of directly exchanging some negotiated other good or service.  In common use we call the transaction using money a “sale” and a transaction using something else a “swap”.

Now there are many reasons to use money as a medium of exchange, chiefly transportability and convenience.  Transportability is kind of obvious, you need some serious pockets to haul around Yap Stones, but most frequently suggested substitutes like Gold or Oil (somewhat more banana-like in terms of utility) suffer serious transportability problems, especially in larger amounts.

When we are talking convenience what we are saying is that for the vendor it is much much easier to value his product and sell it if they do not have to calculate an exchange rate for every possible transaction.  How many Goats are a Cow worth anyway and how much time to you want to waste figuring that out?  What we have developed instead is a Market where tokens may be received by the vendor and used by him to purchase other items and relative values are negotiated arbitrarily and automatically by the collective group of buyers and sellers that participate in the Market.  Arbitrary- I decide my Cow is worth 3 Goats.  Automatically- my neighbor will take 2 Goats for his Cow and unless I throw in some Chickens you’ll automatically take his Cow and save yourself a Goat.

See how complicated it gets?  And I deliberately chose Cows, Goats, and Chickens because they get around just fine on their own and you don’t have to stuff them in your Yap Stone pocket.

Now some people also think of money as a store of value, but that is just not true except on a temporary basis.

Let’s say I scratch in the desert around Ur and discover a pot full of Cow tokens.  I’m rich right?  All I have to do is go down to the Market…

Oh, yeah.  Over 5,000 years you say.  Well, at least I can sell them as decorative objects.  And at that they’re probably more valuable today than they ever were as Cows who would also be dead as Keynes in the long run.  If you want to see how a Market like that runs I suggest Pawn Stars and American Pickers.

I’ll give you $500 cash money right now.  Worth far more?  Not to me.  Neither rarity or antiquity represent value.  I don’t have people wandering in the shop asking for Ur Cow tokens every day so I’ll probably have them sitting on the shelf for a while.  Pleasure doing business with you, I’ll have Chumley write you up.

But, this is a good thing.

One of the problems with today’s economy is that Banks and Businesses are sitting around on a lot of Cow tokens instead of productively investing them in, oh… Cows let’s say.  The Cows would produce milk and meat and little Cows.  They would consume Grass from the Grass vendor but maybe I could get part of that cost back by selling him fertilizer.

That is a working economy.

Instead they are just putting tokens in a pot and burying them in the desert.  They are not growing into token trees or Cows but there is this expectation that in the long run you can dig them up and turn them into future Cows which are much less smelly and inconvenient than actual ones.  And as it turns out simply giving them more tokens doesn’t produce anything except more and bigger pots.

Next- more about pots in the desert.

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: Democracy in the House

The only reason that income taxes on 99 percent of Americans did not go up this month was that Speaker John Boehner briefly broke with an iron rule of Republican control over the House. He allowed the fiscal-cliff deal to be put to a full vote of the House even though a strong majority of Republicans opposed it.

That informal rule, which bars a vote on legislation unless it has the support of a majority of Republicans, has been one of the biggest stumbling blocks to progress and consensus in Congress, and, in its own way, is even more pernicious than the filibuster abuse that often ties up the Senate. [..]

But under the majority-of-the-majority rule in the House, Democrats are completely cut out of the governing process, not even given a chance to vote unless Republicans have decided to pass something. Since 2010, there have been enough extremist Republicans in the caucus to block consideration of most of the bills requested by the White House or sent over from the Senate. If President Obama is for something, it’s a safe bet that most House Republicans are against it, and thus won’t bring it up.

Robert Reich: TARP Is Over, But the Bailouts Will Continue Until the Big Banks Are Broken Up — and Washington Knows It

TARP — the infamous Troubled Assets Relief Program that bailed out Wall Street in 2008 — is over. The Treasury Department announced it will be completing the sale of the remaining shares it owns of the banks and of General Motors.

But in reality it’s not over. The biggest Wall Street banks are now far bigger than they were four years ago when they were considered too big to fail. The five largest have almost 44 percent of all U.S. bank deposits.

That’s up from 37 percent in 2007, just before the crash. A decade ago they had just 28 percent.

The biggest banks keep getting bigger because they can borrow more cheaply than smaller banks. That’s because investors believe the government will bail them out if they get into trouble, rather than force them into a form of bankruptcy (as the new Dodd-Frank law makes possible).

That’s why it’s necessary to limit their size and break up the biggest.

Richard (RJ) Eskow: Two New Fraud Deals Show Wall Street’s Washington Insiders at Work

It must’ve been like old home week when the old gang of Wall Street and Washington insiders finalized a couple more cushy settlements last week.

Everybody knew the drill: Ignore the potential criminal charges and agree on settlement figures they think the public will swallow — figures that are big enough to sound impressive but far smaller than the banks’ ill-gotten gains.  They’ve done this dozens of times before.

But there was an empty chair at the negotiating table. [..]

That chair belongs to you, and it belongs to me. And as long as it’s empty these deals will all turn out the same. A small circle of friends will keep cutting the same cushy deals over and over again until we go to Washington and demand a change, this change:

No more deals.  No more negotiations. Not until we’re in the room. Not until we’re  seated in the chair, at the table, in the chambers of justice, that have always rightfully belonged to us — and only us.

Gail Collins: The Woes of Roe

Forty years ago this month, the Supreme Court handed down the great abortion rights decision Roe v. Wade. To be honest, you’re not going to be seeing a whole lot of cake and Champagne. Time magazine recognized the occasion with a downbeat cover story. (“They’ve Been Losing Ever Since.”) Gallup polls suggest support for abortion rights is fading, particularly among young Americans, and that more people now regard themselves as “pro-life” than “pro-choice.”

On the other hand – I know you had faith that eventually we’d get to the other hand – the polls depend on the question. According to the Quinnipiac poll, if you ask Americans whether they agree with the Roe decision, nearly two-thirds say yes.

It’s always been this way. Americans are permanently uncomfortable with the abortion issue, and they respond most positively to questions that suggest it isn’t up to them to decide anything. “Should be a matter between a woman and her doctor” is usually a popular option.

Sen. Bernie Sanders: The Soul of America

Despite such terminology as “fiscal cliff” and “debt ceiling,” the great debate taking place in Washington now has relatively little to do with financial issues. It is all about ideology. It is all about economic winners and losers in American society. It is all about the power of Big Money. It is all about the soul of America. [..]

We are entering a pivotal moment in the modern history of our country. Do the elected officials in Washington stand with ordinary Americans — working families, children, the elderly, the poor — or will the extraordinary power of billionaire campaign contributors and Big Money prevail? The American people, by the millions, must send Congress the answer to that question.

Bob Cesca: Attention Democrats: Chris Christie Isn’t Your New Best Friend

There’s no doubt that, at a glance, Chris Christie (I just did it again, by the way) sounds like the real deal. His press conference last week in which he mercilessly pummeled the congressional Republicans for not passing a Hurricane Sandy relief bill is just the latest example of Christie stepping onto the national stage and providing a brief but welcome breath of fresh air in a universe where Republicans hardly ever break ranks and eat their own, and a universe where even fewer politicians sound as forthright and authentic. [..]

So just because he criticized the most unproductive and unpopular House of Representatives in the history of the U.S. Congress doesn’t make him particularly brave (maybe tomorrow he’ll bravely come out against brain cancer and deer ticks), and it certainly doesn’t mitigate his more conservative policy positions — positions in areas that kind of matter to liberals, especially issues that deal with the female reproductive zone.

Simply put: we’ve seen this maverick act before. It gave us “9/11 Tourettes” and, you know, Sarah Palin. Be careful who you fall in love with.

On This Day In History January 10

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.

January 10 is the 10th day of the year in the Gregorian calendar. There are 355 days remaining until the end of the year (356 in leap years).

On this day in 1901, a gusher signals start of U.S. oil industry

A drilling derrick at Spindletop Hill near Beaumont, Texas, produces an enormous gusher of crude oil, coating the landscape for hundreds of feet and signaling the advent of the American oil industry. The geyser was discovered at a depth of over 1,000 feet, flowed at an initial rate of approximately 100,000 barrels a day and took nine days to cap. Following the discovery, petroleum, which until that time had been used in the U.S. primarily as a lubricant and in kerosene for lamps, would become the main fuel source for new inventions such as cars and airplanes; coal-powered forms of transportation including ships and trains would also convert to the liquid fuel.

Crude oil, which became the world’s first trillion-dollar industry, is a natural mix of hundreds of different hydrocarbon compounds trapped in underground rock. The hydrocarbons were formed millions of years ago when tiny aquatic plants and animals died and settled on the bottoms of ancient waterways, creating a thick layer of organic material. Sediment later covered this material, putting heat and pressure on it and transforming it into the petroleum that comes out of the ground today.

(emphasis mine)

There had long been suspicions that oil might be under [“Spindletop Hill.” The area was known for its sulfur springs and bubbling gas seepages that would ignite if lit. In August 1892, George W. O’Brien, George W. Carroll, Pattillo Higgins and others formed the Gladys City Oil, Gas, and Manufacturing Company to do exploratory drilling on Spindletop Hill. The company drilled many dry holes and ran into trouble, as investors began to balk at pouring more money into drilling with no oil to show for it.

Pattillo Higgins left the company and teamed with Captain Anthony F. Lucas, the leading expert in the U.S. on salt dome formations. Lucas made a lease agreement in 1899 with the Gladys City Company and a later agreement with Higgins. Lucas drilled to 575 feet (180 m) before running out of money. He secured additional funding from John H. Galey and James M. Guffey of Pittsburgh, but the deal left Lucas with only a small share of the lease and Higgins with nothing.

Lucas continued drilling and on January 10, 1901, at a depth of 1,139 ft (347 m), what is known as the Lucas Gusher or the Lucas Geyser blew oil over 150 feet (50 m) in the air at a rate of 100,000 barrels per day (16,000 m3/d)(4,200,000 gallons). It took nine days before the well was brought under control. Spindletop was the largest gusher the world had seen and catapulted Beaumont into an oil-fueled boomtown. Beaumont’s population of 10,000 tripled in three months and eventually rose to 50,000. Speculation led land prices to increase rapidly. By the end of 1902, over 500 companies were formed and 285 active wells were in operation.

Production began to decline rapidly after 1902, and the wells produced only 10,000 barrels per day (1,600 m3/d) by 1904. On November 14, 1925, the Yount-Lee Oil Company brought in its McFaddin No. 2 at a depth of about 2,500 feet (800 m), sparking a second boom, which culminated in the field’s peak production year of 1927, during which 21,000,000 barrels (3.3 GL) were produced. Over the ten years following the McFaddin discovery, over 72,000,000 barrels (11.4 GL) of oil were produced, mostly from the newer areas of the field. Spindletop continued as a productive source of oil until about 1936. It was then mined for sulfur from the 1950s to about 1975.

America’s first documented oil spill

Students First?

The Education of Michelle Rhee

FRONTLINE examines the legacy of one of America’s most admired & reviled school reformers.

The problem with Michelle Rhee’s report card for public schools

by Traci G. Lee, Melissa Harris Perry Show

StudentsFirst, a school reform lobbying organization headed by education reformer Michelle Rhee, recently released the results of its own national study of education policies by state. According to the results, no state received an A, but plenty scored just barely average, and 11 states received an F.

Each grade is the determined based on three areas: whether a state’s policies elevate teaching, empower parents, spend wisely, and govern well. The report highlights states that provide abundant school choices for parents (i.e. charter schools) and blasts states that fail to evaluate teachers and principals in “meaningful ways.” [..]

But a key area that StudentsFirst leaves out of its grading system also happens to be one of Rhee’s most talked-about issues: student test scores. Maryland, which ranked the highest in Education Week‘s 2012 state report card in terms of achievement and standards, only received a D+ from Rhee. [..]

Rhee’s standards have tied student performance almost exclusively to teacher performance, and as a result has unfairly targeted teachers whose students could not perform well on standardized tests. Unfortunately, what Rhee has left out of her sweeping policy reforms is the fact that a child is not two-dimensional and doing well on a test has little to do with a child’s intelligence or ability to perform well later in life.

While it’s believable that states across the country are struggling to close its schools’ achievement gaps, the criteria StudentsFirst used to grade each state seems to be part of Rhee’s personal agenda to reform schools nationwide using the standards she believed had a great impact during her time as D.C.’s chancellor.

Beware: “Pro-child” groups press corporate schools agenda

by Susan Webb, People’s World

What could be wrong with these self-proclaimed pro-student, pro-child groups? Plenty.

StudentsFirst is headed by Michelle Rhee, former head of the Washington, D.C., public schools. Aro notes that “Rhee’s time as the chancellor of the District of Columbia Public Schools was rife with anti-teacher policies, including illegally firing teachers.” Rhee has also been implicated in test-score tampering at D.C. schools during her chancellorship. Read more about her here.

Amidst a fog of “pro-student” rhetoric, here is just a sampling of “meat” contained in the StudentsFirst policy list:    

  • shifting control of public schools away from elected school boards to one-person “mayoral control.” Why? Because, the group says, “Public employee unions invest in friendly school board candidates and expect handsome returns.”
  • support for “turnaround” models that involve mass firing of teachers and principals and turning schools over to charter operators and other private managers – the vast majority of which are non-union.
  • end all job security and professional protection for teachers. Put them at the mercy of individual supervisors’ whims, prejudices or favoritism. The organization states flatly: “State law should not grant, implicitly or directly, tenure or permanent contracts for PK-12 education professionals.”
  • shifting teacher “defined benefit” pensions to individual 401(k) type plans, which put all the risk on the individual. StudentsFirst claims that “today’s district pensions and other benefits are not sustainable” and criticizes them for “excessively rewarding longevity.”

Rhee has refused to discuss funding for her organization, but Reuters reports that StudentsFirst has received big donations from hedge fund managers.

StudentsFirst Spending: National Education Reform Group’s Partial Tax Records Released

June 25 (Reuters) – The national education reform group StudentsFirst, which has set out to transform U.S. schools by introducing more free-market principles to public education, raised $7.6 million in its first nine months – and spent nearly a quarter of it on advertising – according to partial tax records released on Monday. [..]

Rhee, a political lightning rod since she closed scores of schools and laid off hundreds of teachers during her tenure in Washington, has refused to discuss her funding or her donors. The IRS forms released by her organization on Monday cover only the first several months of her work, through July 31, 2011. Updated filings are not expected until the end of the year, though Reuters has confirmed that recent donors include New York Mayor Michael Bloomberg and hedge fund managers David Tepper and Alan Fournier, who have pledged substantial resources to a StudentsFirst partner organization in New Jersey.

The Laura and John Arnold Foundation, funded by hedge fund manager John Arnold, has also pledged $20 million to Rhee’s organization over five years, a donation that does not appear to be reflected in the IRS forms released on Monday.

My Little Town 20130109: Not on Sunday!

Those of you that read this regular series know that I am from Hackett, Arkansas, just a mile or so from the Oklahoma border, and just about 10 miles south of the Arkansas River.  It was a rural sort of place that did not particularly appreciate education, and just zoom onto my previous posts to understand a bit about it.

Back not that long ago there simply were things that could not be purchased on Sunday.  In some areas this still exists, but only regarding the sale of alcohol.  For example, in some places no alcohol in any manner can be sold on a Sunday, in others restaurants can offer it but not package stores, in still others only beer can be had on a Sunday, and in many there are no restrictions on the sale of alcohol.

In Arkansas, until comparatively recently, there were LOTS of things that could not be offered for sale on Sunday under pain of prosecution.  This was not confined to Arkansas, but it seems to have lasted longer there than in many places.

The Daily Show: A Year In Review Part 2

July

August

September

October

November

December

Hot, Hot, Hot

The National Oceanic and Atmospheric Administration (NOAA) has reported that 2012 was the warmest year on record since it started keeping records in 1895, eclipsing 1998 by 1ºF.

The 1°F difference from 1998 is an unusually large margin, considering that annual temperature records are typically broken by just tenths of a degree Fahrenheit. In fact, the entire range between the coldest year on record, which occurred in 1917, and the previous record warm year of 1998 was just 4.2°F.

The year consisted of the fourth-warmest winter, the warmest spring, second-warmest summer, and a warmer-than-average fall. With an average temperature that was 3.6°F above average, July became the hottest month ever recorded in the contiguous U.S. The average springtime temperature in the lower 48 was so far above the 1901-2000 average – 5.2°F, to be exact – that the country set a record for the largest temperature departure for any season on record. [..]

With 34,008 daily high temperature records set or tied the year compared to just 6,664 daily record lows – a ratio of about five high temperature records for every one low temperature record – 2012 was no ordinary weather year in the U.S. It wasn’t just the high temperatures that set records, though. Overnight low temperatures were also extremely warm, and in a few cases the overnight low was so warm that it set a high temperature record, a rare feat. [..]

Not alarmed yet? Australia is not only experiencing its hottest Summer but its also on fire.

Australia Climate Change? New Colors Added To Forecast Maps To Track Potential Record Heat

Austrlia Temperature Map

Click on image to enlarge

Right now, things are pretty hot in Australia. So hot, in fact, that meteorologists Down Under have added new, never-before-used colors to temperature maps in anticipation of record-breaking heat.

The Australian Bureau of Meteorology amended its interactive weather chart Tuesday, adding the colors deep purple and pink to indicate a temperature range of up to 54 degrees Celsius, or 129.2 degrees Fahrenheit. The previous range had capped at 50 Celsius, or 122 degrees Fahrenheit.

The change was based on one weather prediction model that forecasts temperatures to climb above 50 Celsius early next week.

The all-time hottest temperature recorded in Australia was 50.7 Celsius on Jan. 2, 1960 at Oodnadatta Airport in South Australia, the Sydney Morning Herald reports.

According to the current model, the forecast for next Monday will bring a “Tasmania-sized” area of heat in excess of 50 degrees to South Australia.

50ºC is 122ºF. That’s hot. Too hot.

Australian heatwave puts south-east on alert as wildfires burn out of control

by Alison Rourke, The Gusardian

Fire service issues ‘catastrophic’ warnings in New South Wales with temperatures expected to breach 45C in coming days

A record-breaking heatwave and high winds across south-eastern Australia have produced some of the worst fire conditions seen in the country, with blazes destroying thousands of hectares of land (video) and threatening properties, but – so far – sparing lives.

Emergency teams fought more than 130 fires across New South Wales, the country’s most populous state, on Tuesday, with at least 40 burning out of control. Fires also continued to burn in Tasmania, after blazes at the weekend destroyed more than 20,000 hectares of land and dozens of properties. [..]

The NSW rural fire service issued “catastrophic” fire warnings for four areas in the state – the most severe fire warning level.

“The word catastrophic is being used for good reason,” the Australian prime minister, Julia Gillard, said on morning television. “So it is very important that people keep themselves safe, that they listen to local authorities and local warnings. This is a very dangerous day.”

Alarmed after the NOAA report, Sen. Bernie Sanders (I-VT) introduced a new climate bill.

Sanders announced the bill a day after federal officials reported that 2012 was the hottest year on record in the lower 48 states, smashing the record set in 1998 by a full degree Fahrenheit.

The bill from Sanders would create a “transparent fee on greenhouse gas emissions from the biggest polluters,” his office said in a brief summary.

“After the hottest year on record and extreme weather disturbances such as Hurricane Sandy, we must take strong action to transform our energy system away from fossil fuels and move toward energy efficiency and sustainable energy,” said Sanders, a member of the Energy and Natural Resources Committee. “I intend to introduce legislation in the Senate to do just that.” [..]

Environmentalists are pressing President Obama to take tougher steps using his administrative powers, including establishment of first-time carbon emissions standards for existing power plants.

Sanders’ plan also aims to boost green energy development and nix tax incentives for oil companies.

Not just the US but countries around the world need to take action to curb carbon emissions. The Unites States should be taking the lead and setting the example.

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”.

Wednesday is Ladies’ Day

Follow us on Twitter @StarsHollowGzt

Katrina vanden Heuvel: Avoiding a climate-change apocalypse

As you may have noticed, the end of the year was all about the end of the world. Mayan doomsday prophesies. Rogue planets on a collision course with Earth. Fear-mongering about an artificial “fiscal cliff.” House Republicans doing, well, what they usually do.

Fortunately, for now, life as we know it continues. And scary as all of this sounds, the real horror show, the true existential threat, is yet another crisis of our own making: the catastrophic effects of climate change. [..]

2012 was the hottest year on record. Arctic sea ice is melting. Sea levels are rising faster than projected. And extreme weather events – droughts, storms, heat waves – are increasing in number and intensity, disproportionately harming the world’s most vulnerable populations.

But forget trying to pass climate-change legislation before the next storm. Republicans in Congress can barely bring themselves to help out the victims of the last storm.

Phyllis Bennis: Will Chuck Hagel’s Appointment Actually Help the Anti-War Left?

Neocon anger at Chuck Hagel isn’t new. Some of it parallels the frustration of the Israel lobbies- Hagel’s refusal to tow the AIPAC line, particularly refusing to call for war with Iran. He warned that “military strikes against Iran’s nuclear facilities would signal a severe diplomatic failure and would have their own serious negative consequences for the United States and for our allies.” Hagel has instead called for direct, bilateral negotiations with Iran, and in 2010 he warned of the consequences of attacking Iran, saying “Once you start you’d better be prepared to find 100,000 troops because it may take that.” Notorious Israel occupation-backer and Harvard law school professor Alan Dershowitz announced he would testify against Hagel on Iran, calling his nomination “a bad choice for the country.”[..]

Whatever else he is, Chuck Hagel is no leftist. Standing to the left of President Obama’s center-right military policy is not a very high bar. But again-standing up to AIPAC, the defense industry (and members of Congress accountable to them) and the still-powerful neocons makes the Hagel appointment a good move for Obama. And it gives the rest of us a basis to push much farther to end the wars, to close the bases, to cut the Pentagon funding, to tax the military profiteers.

Jessica Valenti: America’s Rape Problem: We Refuse to Admit That There Is One

The same week that a leaked video out of Steubenville, Ohio showed high school boys joking and laughing about an unconscious teenager in the next room who had just been raped – “They raped her quicker than Mike Tyson!” – House Republicans let the Violence Against Women Act (VAWA) expire. They opposed an expanded version of the legislation that had increased protections for the LGBT community, immigrants and Native American women.

This week we’ve also seen mass protests in India after a woman was brutally gang raped and died from her injuries. American media covering the Indian protests have repeatedly referenced the sexist culture, reporting how misogyny runs rampant in India. The majority of mainstream coverage of what happened in Steubenville (click here for a primer), however, has made no such connection. In fact, the frequent refrain in discussions of Steubenville in comment threads is that these boys are “sociopaths,” shameful anomalies. We’d rather think of them as monsters than hold ourselves accountable as a nation and tell the truth – these rapists are our sons.

Bryce covert: Social Issues Are Economic Issues, Exhibit 1,463: Michigan’s Dual Agenda Slams Low-Income Women

We’re barely more than a week into 2013, but Michigan has been very busy lately. As a pre-holiday gift to workers, Governor Rick Snyder signed a “right-to-work” bill into law after the Republican-controlled state house passed it 58-51, making the payment of union dues voluntary for most unions and thus severely weakening their power. Just over two weeks later, Snyder signed another bill into law restricting abortion access for the state’s women. The bill prohibits telemedicine prescriptions for medical abortion, hampers clinics with new costly and challenging requirements and places new barriers between women and the procedure they seek through “coercion screenings.”

Two extreme measures, but ones that aren’t directly related, right? One is clearly about “economic issues,” the other about “social issues.” Yet those who are hurt by both are, as is so often the case, low-income women. Michigan has shone a spotlight on the inextricable link between economic and social issues when it comes to the right-wing agenda. And we can only expect more of this news from statehouses as the year progresses.

Maureen Dowd: He Who Knew Not

Everyone told me not to fall in love so quickly, that I’d get my heart broken.

But I couldn’t help it. Robert Griffin III and Alfred Morris, the stellar Redskins rookies, were such appealing palliatives to our ugly, nihilistic politics and our cascade of lurid sports scandals.  [..]

But then, on Sunday, the spell snapped when the knee snapped. Coach Mike Shanahan committed malpractice, letting a hobbled young quarterback lurch around “like a pirate with a peg leg,” as The Washington Post’s Sally Jenkins wrote. The autocratic, crusty 60-year-old, who makes $7 million a year, risked the kid’s career and the team’s future trying to win a wild-card playoff game – the opposite of what the Nationals did with Stephen Strasburg.

At that moment, the Redskins became like the rest of Washington, and the rest of our self-centered, grasshopper attention-span culture – going for short-term gain and avoiding long-term pain.

Michelle Dean: Without Public Arts Funding, We Wouldn’t Have ‘Les Misérables’

Here is a thing it is difficult to remember in the midst of its box office tidal wave: Les Misérables owes its birth to a debate over public arts funding. We think of blockbusters as antithetical to the high arts that public funding might typically support, but in Les Mis‘s case, at least, the relationship was symbiotic. Some might say parasitic, of course, but the story reveals that we don’t quite know who was leeching off of who.

Les Misérables was originally staged in 1985 under the auspices of the Royal Shakespeare Company, a large portion of whose budget was provided by the English Arts Council. It wasn’t the RSC’s idea to develop it, mind you. Cameron Mackintosh, a private producer coming off a wave of success with 1981’s Cats, had been looking to put on an English version of the musical, which was developed and staged in Paris in French. Mackintosh wanted a good director for it, and found himself knocking on the door of Trevor Nunn, then the RSC’s co-artistic director. Nunn and his co-director, John Caird (then an RSC associate director), substantially overhauled the plot and the script. They also gave the production what was, until the emaciated cheekbones of Anne Hathaway entered our collective consciousness, the musical’s signature image: the revolving stage. In other words, the look and content of the show were developed not just with public money, but by people who had made their careers in a publicly supported arts environment.

Mr. President, Mint that Coin and Keep that Option. Don’t Sell Us Out

We know by now that fake tough talk from the President on letting the Bush tax cuts above those making $250,000 expire being an absolute was just that, fake. So there’s absolutely no reason to believe that Republicans do not have all the leverage in this upcoming debt ceiling fight coming up. They do.

US Double-Dip Death Watch Continues

Jay Carney’s press conference today leaves no doubt that the situation is substantially as I described it in my previous post.  The White House commitment not to negotiate on the debt ceiling is mainly fluff.  Their public position is that the Congress must lift the debt ceiling with a “clean” vote first, before a deal can be struck on the massive spending cuts that will take place automatically in March.  Carney implores listeners to believe that the debt ceiling and sequester are “separate” issues, and insists that “this not a negotiation the White House is going to have.” But of course the entire press conference is itself a public gambit in an ongoing negotiation that obviously includes back-channel talks.

There’s also no reason to believe the President won’t put up huge cuts to our safety net just to raise the debt ceiling thanks to what we know from the austerity memo from Jack Lew’s office when he was head of Obama’s OMB in 2011.

This was all thanks to the gross incompetence of not adding a raise in the debt ceiling in the original 2010 deal that extended the Bush tax cuts as I have repeatedly pointed out. However more than half of you already know this, so let’s get to the here and now; there are only two options.

There is the 14th amendment challenge to the SCOTUS option and there is the minting of a 1 trillion platinum coin to start off with. We know the 14th amendment challenge is the least likely scenario to be pursued now. So given the lack of appetite there, there is only one other option and the President better consider it because no one believes the fake posturing about a debt ceiling raise “not being for debate.” Too late. It is.

It didn’t have to be, but the President made it that way by trusting John Boehner with the full faith and credit of the US so now political default(the only way it could happen as a currency sovereign) is a possibility thanks to this mess. So a Trillion Dollar Coin (TDC) is the first step and a small chance at redemption that suddenly is bigger than the blogger and the blogs talking about it thought it would be. It suddenly got real and thank goodness it did because we need to go further. To defeat austerity for the future we also should go from a Trillion Dollar Coin (TDC) towards Platinum Coin Seigniorage(PCS) and think about minting coins of a higher value up to 60 trillion. Therefore, as a firts step, I urge all of you to instruct the President to…

Direct the United States Mint to make a single platinum trillion dollar coin!

On This Day In History January 9

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.

January 9 is the ninth day of the year in the Gregorian calendar. There are 356 days remaining until the end of the year (357 in leap years).

On this day in 1493, Italian explorer Christopher Columbus, sailing near the Dominican Republic, sees three “mermaids”–in reality manatees–and describes them as “not half as beautiful as they are painted.” Six months earlier, Columbus (1451-1506) set off from Spain across the Atlantic Ocean with the Nina, Pinta and Santa Maria, hoping to find a western trade route to Asia. Instead, his voyage, the first of four he would make, led him to the Americas, or “New World.”

Mermaids, mythical half-female, half-fish creatures, have existed in seafaring cultures at least since the time of the ancient Greeks. Typically depicted as having a woman’s head and torso, a fishtail instead of legs and holding a mirror and comb, mermaids live in the ocean and, according to some legends, can take on a human shape and marry mortal men. Mermaids are closely linked to sirens, another folkloric figure, part-woman, part-bird, who live on islands and sing seductive songs to lure sailors to their deaths.

West Indian manatees are large, gray aquatic mammals with bodies that taper to a flat, paddle-shaped tail. They have two forelimbs, called flippers, with three to four nails on each flipper. Their head and face are wrinkled with whiskers on the snout.

Manatees can be found in shallow, slow-moving rivers, estuaries, saltwater bays, canals, and coastal areas – particularly where seagrass beds or freshwater vegetation flourish. Manatees are a migratory species. Within the United States, they are concentrated in Florida in the winter. In summer months, they can be found as far west as Texas and as far north as Massachusetts, but summer sightings in Alabama, Georgia and South Carolina are more common. West Indian manatees can also be found in the coastal and inland waterways of Central America and along the northern coast of South America, although distribution in these areas may be discontinuous.

Manatees are gentle and slow-moving animals. Most of their time is spent eating, resting, and traveling. Manatees are completely herbivorous.

West Indian manatees have no natural enemies, and it is believed they can live 60 years or more. As with all wild animal populations, a certain percentage of manatee mortality is attributed to natural causes of death such as cold stress, gastrointestinal disease, pneumonia, and other diseases. A high number of additional fatalities are from human-related causes. Most human-related manatee fatalities occur from collisions with watercraft.

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