“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: Robots and Robber Barons
The American economy is still, by most measures, deeply depressed. But corporate profits are at a record high. How is that possible? It’s simple: profits have surged as a share of national income, while wages and other labor compensation are down. The pie isn’t growing the way it should – but capital is doing fine by grabbing an ever-larger slice, at labor’s expense.
Wait – are we really back to talking about capital versus labor? Isn’t that an old-fashioned, almost Marxist sort of discussion, out of date in our modern information economy? Well, that’s what many people thought; for the past generation discussions of inequality have focused overwhelmingly not on capital versus labor but on distributional issues between workers, either on the gap between more- and less-educated workers or on the soaring incomes of a handful of superstars in finance and other fields. But that may be yesterday’s story.
Robert Kuttner: Money Can’t Buy Them Love
It is literally possible to have more money than you know what to do with. Take the case of the private-equity billionaire Peter G. Peterson, who has bankrolled much of the austerity crusade. [..]
The fiscal cliff has had the opposite effect from the one that its too-clever sponsors intended. It has revealed the backward economic assumptions of the Peterson austerity crusade and the self-serving motives of its sponsors. And it has thrown into sharp relief the political unpopularity of Republican positions on taxes and on social insurance.
As Republicans try to walk back their position of no tax increases on anyone, any time (even billionaires, even if the result is cuts in Social Security and Medicare), watch for Republicans to turn on each other.
It’s December. Maybe there is a Santa Claus.
The Mayans were right, as it turns out, when they predicted the world would end in 2012. It was just a select world: the G.O.P. universe of arrogant, uptight, entitled, bossy, retrogressive white guys. [..]
Who would ever have thought blacks would get out and support the first black president? Who would ever have thought women would shy away from the party of transvaginal probes? Who would ever have thought gays would work against a party that treated them as immoral and subhuman? Who would have ever thought young people would desert a party that ignored science and hectored on social issues? Who would ever have thought Latinos would scorn a party that expected them to finish up their chores and self-deport?
Robert Sheer: A Sign That Obama Will Repeat Economic Mistakes
Please don’t tell me that these reports in the business press touting Sallie Krawcheck as a front-runner for chairman of the SEC or even a possible candidate to be the next Treasury secretary are true. Who is she? Oh, just another former Citigroup CFO, and therefore a prime participant in the great banking hustle that has savaged the world’s economy. Krawcheck was paid $11 million in 2005 while her bank contributed to the toxic mortgage crisis that would cost millions their jobs and homes.
Not that you would know that sordid history from reading the recent glowing references to Krawcheck in the New York Times, the Wall Street Journal and Bloomberg News that stress her pioneering role as a leading female banker-a working mother no less-but manage to avoid her role in a bank that led the way in destroying the lives of so many women, men and their children. Nor did her financial finagling end with Citigroup, as Krawcheck added a troubling stint in the leadership at Merrill Lynch and Bank of America to her résumé.
Michelle Chen; At ‘Urban Uprising’ Conference, Activists Reimagine the City Post-Sandy
Disaster has a way of concentrating the mind. And Gotham has always had its share of it: whether it’s a slow-burning disaster like the epidemic of income inequality, the endemic scourge of police brutality and racial profiling, or the chronic deprivation of healthy food in isolated neighborhoods. Superstorm Sandy churned all of these elements of urban chaos. But in its wake, the storm has laid bare new pathways for innovations, and new frontiers for struggles against inequality.
The undercurrent of these contradictions ran through a conference this weekend dedicated to “designing a city for the 99%,” a possibility made more real and urgent in the storm’s aftermath. Urban Uprising, held at the New School and the CUNY Graduate Center (where this reporter is also a graduate student), brought together academics, legal experts, organizers and urban ecologists to broach fresh questions about organizing communities: how to harness the energy of Occupy and channel it into direct, localized campaigns; how to balance environmental renewal with economic development; and how to reorient debates on food policy away from apolitical consumer interests and toward the connection between food justice and fighting poverty.
Susan Clark and Woden Teachout: Community Response to Disaster
n the aftermath of Hurricane Sandy, one thing is striking: the extent to which many of the best and first responders have been local.
From Brooklyn down to the Jersey Shore, Sandy has left its mark. But now, stories abound of community groups shoveling sand out of living rooms, feeding and housing the homeless, and arranging online help through listservs and crowdfunding. Somehow, communities have married the best of old-fashioned neighborliness to 21st century networking – resulting in a steady flow of local energy against a sea of devastation.
Federal help is still critical. State and local governments can’t respond alone to disasters of this scale. As comedian Steven Colbert quipped sarcastically, “Who better to respond to what’s going on inside its own borders than the state whose infrastructure has just been swept out to sea?”
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