“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.
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Paul Krugman: Depression Denial Syndrome
Last week, Bill Gross, the so-called bond king, abruptly left Pimco, the investment firm he had managed for decades. People who follow the financial industry were shocked but not exactly surprised; tales of internal troubles at Pimco had been all over the papers. But why should you care?
The answer is that Mr. Gross’s fall is a symptom of a malady that continues to afflict major decision-makers, public and private. Call it depression denial syndrome: the refusal to acknowledge that the rules are different in a persistently depressed economy.
Mr. Gross is, by all accounts, a man with a towering ego and very difficult to work with. That description, however, fits a lot of financial players, and even the most lurid personality conflicts wouldn’t have mattered if Pimco had continued to do well. But it didn’t, largely thanks to a spectacularly bad call Mr. Gross made in 2011, which continues to haunt the firm. And here’s the thing: Lots of other influential people made the same bad call – and are still making it, over and over again. [..]
And that’s what makes the Bill Gross story interesting. He’s pretty much the only major deficit hysteric to pay a price for getting it wrong (even though he remains, of course, immensely rich). Pimco has taken a hit, but everywhere else the reign of error continues undisturbed.
Trevor Timm: Your iPhone is now encrypted. The FBI says it’ll help kidnappers. Who do you believe?
Apple and Google have finally encrypted your phone data by default. And that’s a bad thing?
Much of the world has been enthralled by the new iPhone 6, but civil liberties advocates have been cheering, too: Along with iOS 8, Apple made some landmark privacy improvements to your devices, which Google matched with its Android platform only hours later. Your smartphone will soon be encrypted by default, and Apple or Google claim they will not be able open it for anyone – law enforcement, the FBI and possibly the NSA – even if they wanted to.
Predictably, the US government and police officials are in the midst of a misleading PR offensive to try to scare Americans into believing encrypted cellphones are somehow a bad thing, rather than a huge victory for everyone’s privacy and security in a post-Snowden era. Leading the charge is FBI director James Comey, who spoke to reporters late last week about the supposed “dangers” of giving iPhone and Android users more control over their phones. But as usual, it’s sometimes difficult to find the truth inside government statements unless you parse their language extremely carefully. So let’s look at Comey’s statements, line-by-line.
We want to believe in justice for all, but when guns are in white privileged hands, blind justice remains impossible to expect
“I think it’s a vindication for justice.” Angela Corey said that. This is the same Angela Corey whose office failed, not so long ago, to secure a guilty verdict in the trial of George Zimmerman for the murder of 17-year-old Trayvon Martin. But there was the Florida state attorney on Wednesday afternoon, having secured a guilty verdict – delivered by a mostly white-male jury in about five hours – that condemned Michael Dunn to a minimum of 25 years to life in prison for the first-degree murder of 17-year-old Jordan Davis.
This is a season in which we are witnessing the senseless murder of black bodies by white hands, hands that occupy a privileged white space. This is a season in which the victimhood of white killers – their implied innocence – is accepted or taken as given. This verdict in Florida on Wednesday afternoon tips towards a promise that justice is truly blind. But justice in America is fickle.
Zoë Carpenter: Don’t Fall for the GOP’s Over-the-Counter Contraception Racket
It’s time to call bullshit on the GOP’s embrace of over-the-counter birth control. Several Republican candidates, under fire for radical positions on women’s health, have recently adopted the idea in a naked attempt to woo female voters. These politicians say they’re all in favor of access to contraception. But sudden calls for the pill to be available without a prescription do not signal a real shift in conservative attitudes toward reproductive rights. They simply mask tired opposition to the Affordable Care Act’s mandate that insurers cover birth control. [..]
It doesn’t matter what Republicans are or aren’t intent on. The bottom line is that a variety of conservative positions, from opposition to the ACA to federal funding for women’s clinics, have had or would have the very real effect of making it more difficult for women to access healthcare in general and contraceptives specifically.
Furthermore, contraception is hardly the sum of women’s medical needs. When conservatives fight to empower women to make decisions about their own bodies in all cases, regardless of income, then maybe we’ll take them seriously. In the meantime, there’s little of substance in an ideology that promotes birth control without a prescription for some women and hanging for others.
John Nichols: The Supreme Court That Made It Easier to Buy Elections Just Made It Harder for People to Vote in Them
In case there was any remaining confusion with regard to the precise political intentions of the US Supreme Court’s activist majority, things were clarified Monday. The same majority that has made it easier for corporations to buy elections (with the Citizens United v. FEC decision) and for billionaires to become the dominant players in elections across the country (with the McCutcheon v. FEC decision) decided to make it harder for people in Ohio to vote.
Yes, this Court has messed with voting rights before, frequently and in damaging ways. It has barely been a year since the majority struck down key elements of the Voting Rights Act.
But Monday’s decision by the majority was especially blatant-and immediate. One day before early voting was set to begin in Ohio on Tuesday, the Supreme Court delayed the start of the process with a decision that will reduce the early voting period from thirty-five days to twenty-eight days.
Jonathan Jones: Banksy wanted Clacton-on-Sea to confront racism – instead it confronted him
Tendring district council has destroyed a painting that eloquently challenged views on immigration – was it too close to home?
It must say something about the swirling currents of prejudice, fear and anger in modern Britain that even Banksy cannot predict their next bizarre lurch.
From Bristol to New York, this street artist has made his reputation by wittily mocking power and money. In Manhattan he satirised McDonald’s (not, perhaps his most original target) and in Cheltenham, near GCHQ, he painted spies snooping on a phone box. Usually people love him for it. The political content of Banksy’s art is generally so accepted and enjoyed that it has become tame. Far from being challenged, people gush at the prices it fetches.
It comes as a genuine shock, then, that a council has removed one of his paintings instead of calling in the valuers. Tendring district council says it destroyed the new painting that materialised in Clacton-on-Sea – where Tory defector Douglas Carswell is about to fight a byelection for his new party Ukip – after getting a complaint that it was “offensive and racist”. Was it?
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