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”.

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Dean Baker: The corruption of the economics profession

The public needs expert guidance on economic issues, but moneyed interests have gotten in the way

It is remarkable that the public has been convinced that the earth revolves around the sun. This is remarkable because we can all look up in the sky and see the sun revolving around the earth.

Most of us are willing to believe the direct opposite of what we can see with our own eyes because we accept the analysis of the solar system developed by astronomers through many centuries of careful observation. The overwhelming majority of people will never go through the measurements and reproduce the calculations. Rather, our belief that the earth revolves around the sun depends on our confidence in the competence and integrity of astronomers. If they all tell us that the earth in fact orbits the sun, we are prepared to accept this view.

Unfortunately the economics profession cannot claim to have a similar stature. This is both good and bad. It is good because it doesn’t deserve that stature. Economists too often work as hired guns for those with money and power. It is bad because the public needs expertise in economics, just as it needs expertise in medicine and other areas.

Sen. Bernie Sanders: 2014: Seize the Moment

The Congress has just ended one of the worst and least productive sessions in the history of our country. At a time when the problems facing us are monumental, Congress is dysfunctional and more and more people (especially the young) are, understandably, giving up on the political process. The people are hurting. They look to Washington for help. Nothing is happening.

In my view, the main cause of congressional dysfunction is an extreme right-wing Republican party whose main goal is to protect the wealthy and powerful. There is no tax break for the rich or large corporations that they don’t like. There is no program which protects working families — Social Security, Medicare, Medicaid, food stamps, affordable housing, etc. — that they don’t want to cut.

But the Democrats (with whom I caucus as an Independent) are most certainly not without fault. In the Senate, they have tolerated Republican obstructionism for much too long and allowed major legislation to fail for lack of 60 votes. They have failed to bring forth a strong and consistent agenda which addresses the economic crises facing the vast majority of our struggling population, and have not rallied the people in support of that agenda.

Chris Hedges: Overthrow the Speculators

Speculators at megabanks or investment firms such as Goldman Sachs are not, in a strict sense, capitalists. They do not make money from the means of production. Rather, they ignore or rewrite the law-ostensibly put in place to protect the vulnerable from the powerful-to steal from everyone, including their shareholders. They are parasites. They feed off the carcass of industrial capitalism. They produce nothing. They make nothing. They just manipulate money. Speculation in the 17th century was a crime. Speculators were hanged.

We can wrest back control of our economy, and finally our political system, from corporate speculators only by building local movements that decentralize economic power through the creation of hundreds of publicly owned state, county and city banks.

The establishment of city, regional and state banks, such as the state public bank in North Dakota, permits localities to invest money in community projects rather than hand it to speculators. It keeps property and sales taxes, along with payrolls for public employees and pension funds, from lining the pockets of speculators such as Jamie Dimon and Lloyd Blankfein. Money, instead of engorging the bank accounts of the few, is leveraged to fund schools, restore infrastructure, sustain systems of mass transit and develop energy self-reliance.

Jeff Jarvis: The primary NSA issue isn’t privacy, it’s authority

At heart, the NSA debate is about what the government is allowed to do with what it knows and who is overseeing it

I celebrate Judge Richard J Leon’s opinion that the government’s mass collection of communications metadata is “almost Orwellian”, and I decry Judge William H Pauley III’s decision that the NSA’s collection is both effective and legally perfectly peachy.

But I worry that the judges, as well as many commentators and Edward Snowden himself, may be debating on the wrong plane. I see some danger in arguing the case as a matter of privacy because I fear that could have serious impact on our concept of knowledge, of what is allowed to be known and thus of freedom of speech. Instead, I think this is an argument about authority – not so much what government (or anyone else) is allowed to know but what government, holding unique powers, is allowed to do with what it knows. [..]

In the search for a legally protected right to privacy in the United States, begun with Brandeis and Warren in 1890, the Fourth Amendment has been interpreted as affording privacy protection as have the First Amendment (freedom of belief) and the Fifth (freedom against self-incrimination). In each case, though, the right is not so much for something – privacy – as against something – namely, government abuse.

Paul Buchheit: The Shocking Redistribution of Wealth in the Past Five Years

Anyone reviewing the data is likely to conclude that there must be some mistake. It doesn’t seem possible that one out of twenty American families could each have made a million dollars since Obama became President, while the average American family’s net worth has barely recovered. But the evidence comes from numerous reputable sources.

Some conservatives continue to claim that President Obama is unfriendly to business, but the facts show that the richest Americans and the biggest businesses have been the main – perhaps only – beneficiaries of the massive wealth gain over the past five years. [..]

President Obama recently proclaimed that inequality “drives everything I do in this office.” Indeed it may, but in the wrong direction.

William Cohen: As NSA Spy Debate Heats Up in 2014 Don’t Believe the Security Hype

A new year of media noise begins, and with it an avalanche of propaganda. With the public growing wary of privacy intrusions, the NSA debate is heating up and the message from power centers will focus on the effectiveness of the spy program in stopping terror attacks, the effective controls in place to prevent abuse, and the danger to the public posed by traitorous leakers of secret operations. These claims are all false.

Yet these are the claims endorsed in the December 27 ruling upholding the legality of the NSA spy program by U.S. federal judge William Pauley III in ACLU v. Clapper. Judge Pauley’s ruling is full of deference to government and its need for secrecy. However, a December 16 ruling by federal judge Richard Leon in Klayman v. Obama exposes that the claims made by the government are wrong. Judge Leon characterizes the NSA spy program as Orwellian and violating fundamental constitutional safeguards. [..]

With a conflict between federal judges, the legality of the NSA spy program will likely be resolved by the Supreme Court in 2014, after the appeals courts in Pauley and Leon’s districts have their say. It is an open question how the Court will rule. Consider that Judge Leon was appointed by Bush 43, and Judge Pauley by Clinton. Politics and ideology are not at all predictable when it comes to views on the NSA spy program.

The Court is a powerful and conservative institution. Yet the Court is swayed by public sentiment. The best way for people to influence the law is to raise their voices against the clear violations by the national security state and the bogus arguments now being used to defend itself from further scrutiny.

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  1. looking at the ass end of 2013, makes a run at The Onion’s market…

    Obama’s Defining Fight: How He Will Take On the NSA’s Surveillance State in 2014

    12/31/2013

    I don’t know how much more of this I can take.

  2. Obama, Hillary Clinton Polled As Most Admired Living Man And Woman 2013

    HuffPo, 12/30/13

    Dec 30 (Reuters) – Americans named President Barack Obama and former Secretary of State Hillary Clinton as the world’s most admired living man and woman in 2013, according to a Gallup poll released on Monday.

    Obama topped the annual list for the sixth consecutive year, a typical ranking for a sitting U.S. president, the polling organization said.

    But the percentage of those surveyed who choose him as the most admired man fell to 16 percent this year, down from 30 percent in 2012.

    The president’s job approval rating has dropped during a year marked by a botched healthcare rollout and stalled legislative initiatives at the start of his second term.

    Clinton earned the top spot among most admired women for the 12th consecutive year and 18th time overall, more than any other woman in the poll’s history.

    Joe Walsh responds…

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