Tag: Punting the Pundits

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

Paul Krugman: Those Revolting Europeans

The French are revolting. The Greeks, too. And it’s about time.

Both countries held elections Sunday that were in effect referendums on the current European economic strategy, and in both countries voters turned two thumbs down. It’s far from clear how soon the votes will lead to changes in actual policy, but time is clearly running out for the strategy of recovery through austerity – and that’s a good thing.

Needless to say, that’s not what you heard from the usual suspects in the run-up to the elections. It was actually kind of funny to see the apostles of orthodoxy trying to portray the cautious, mild-mannered François Hollande as a figure of menace. He is “rather dangerous,” declared The Economist, which observed that he “genuinely believes in the need to create a fairer society.” Quelle horreur!

Harold Meyerson: Europe finds austerity a tight fit

Europe has seen austerity, and it doesn’t work. [..]

The United States has austerity demons of its own, of course. While the private sector has rebounded somewhat from the 2008-09 collapse, creating 4 million jobs since the turnaround began in 2010, state and local governments have shed 611,000 employees – including 196,000 teachers – since President Obama took office, The Post’s Zachary A. Goldfarb reported. The shrinking of government ranks high among the drags on the U.S. recovery. The 2009 stimulus provided funding to states and cities that enabled them to keep many workers on the job, but when that funding began running out in 2010, layoffs, particularly among teachers, redoubled.

The lesson of 2008 was that unregulated finance ends in disaster. The lesson of the years since is that austerity in a time of economic weakness not only perpetuates that disaster but makes it worse. The world, one might think, would have learned this lesson from the 1930s; Germany, at least, should have. Alas, it apparently has to be relearned, painfully, again and again.

Robert Reich: A Question of Timing: What America Can Learn from the Revolt in Europe

Who’s an economy for? Voters in France and Greece have made it clear it’s not for the bond traders.

Referring to his own electoral woes, Prime Minister David Cameron wrote Monday in an article in the conservative Daily Telegraph: “When people think about the economy they don’t see it through the dry numbers of the deficit figures, trade balances or inflation forecasts – but instead the things that make the difference between a life that’s worth living and a daily grind that drags them down.” [..]

In truth, the choice isn’t simply between budget-cutting austerity, on the one hand, and growth and jobs on the other.

It’s really a question of timing. And it’s the same issue on this side of the pond. If government slices spending too early, when unemployment is high and growth is slowing, it makes the debt situation far worse.

The Guardian Editorial: François Hollande: the change France needs

François Hollande has a rare opportunity to reshape the political landscape in a country whose default position is to the right

François Hollande won a stunning victory, not just for himself, as a man who spent much of his career in the shadow of others, nor for France, but for the left in Europe, too. With the governing parties who preached austerity under attack from a voter revolt on Sunday- in the Greek elections, where the extreme right was set to win enough votes to enter parliament; in Schleswig-Holstein, where the vote of Angela Merkel’s coalition partners, the Free Democrats, collapsed – the breakthrough of the left in France was a huge achievement and, just maybe, a turning point.

Nicolas Sarkozy is the 11th European leader to fall since the banking crisis broke and this result is more than just a shot across the bows for the former Sarkozy loyalists in Ms Merkel or David Cameron. France’s new direction is a mortal blow to the austerity compact which has been Europe’s anchor response to the crisis. Mr Hollande is no radical. Conscious of how polarised France has become between left and right, he wanted his supporters to celebrate, not demonstrate. He has set himself just one year longer to balance France’s budget than the man he defeated. But he arrives in power at that point in history where the victims of boom and bust, rather than its perennially self-satisfied authors, have become the dominant political voice.

Joan Walsh: Let Biden be Biden

The VP comes out for same sex marriage. Then his office insists he “was saying what the president has said”

For cryin’ out loud.

Sunday morning on “Meet the Press” Vice President Joe Biden went completely Joe Biden on the issue of marriage equality, telling David Gregory “I am absolutely comfortable with the fact that men marrying men, women marrying women and heterosexual men marrying women are entitled to the same exact rights,” and crediting “Will and Grace.” That’s the Joe Biden we know and love. [..]

It seemed an important step for an administration that can’t seem to get the president all the way there. President Obama is going to have to come out for gay marriage one of these days – can anyone honestly believe he’s against it? – but having the Catholic Biden endorse it helps, too. The group Catholic Democrats immediately Tweeted the little known fact that Catholics are the most pro-gay marriage of all Christian groups. Yet the backwards politics of the U.S. Bishops means most people don’t know that, and thus view gay marriage as a no-fly zone during an election season when the  Catholic swing vote is particularly important. So Biden’s comment mattered.

A’ex Pareene: America’s idiot rich

The 1 percent is complaining louder than ever. There can be no reasoning with people this irrational

Some unknown but alarming number of ultra-rich Americans are now basically totally delusional and completely divorced from reality. This is now an inescapable fact, confirmed by multiple media accounts of billionaire thought and an entire special issue of the New York Times Magazine. [..]

There can be no reasoning with people this irrational. Any attempt to do so will fail, as Barack Obama, whose main goal is to maintain, not upend, the system that made these people so disgustingly wealthy, is learning. It’s growing harder and harder to pretend that the fantastically wealthy have a sophisticated understanding of politics – or math, or economics, or cause-and-effect.

Dana Milbank: Taking out Dick Lugar

When Indiana Republicans go to the polls on Tuesday, they will do more than choose a candidate for the Senate. They will choose between party and country. [..]

For years Dick Lugar has been the leading Senate Republican on foreign policy, shaping post-Cold War strategy, securing sanctions to end South African apartheid and bringing democracy to the Philippines, among other things. His signature achievement, drafted with Democrat Sam Nunn, was the 1992 Nunn-Lugar Act, which has disarmed thousands of Soviet nuclear warheads once aimed at the United States.

Enter Richard Mourdock, a tea party hothead attempting to defeat Lugar in the GOP primary. A cornerstone of his effort to oust Lugar is the six-term senator’s bad habit of bipartisanship – never mind that Lugar’s bipartisanship was in the service of protecting millions of Americans from nuclear, chemical and biological terrorism.

Punting the Pundits: Sunday Preview Edition

Punting the Punditsis 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

The Sunday Talking Heads:

Up with Chris Hayes: This Sunday’s guests lineup may have me throwing things at the TV: Eric Schneiderman (@agschneiderman), New York attorney general and co-chair of the Mortgage Crisis Unit and Financial Fraud Enforcement Task Force; Raj Date, deputy director of the Consumer Financial Protection Bureau (@CFPB); Catherine Rampell (@crampell), economics reporter for the The New York Times; Alexis Goldstein (@alexisgoldstein), former Wall Street information technologist and member of Occupy the SEC; James Fallows (@jamesfallows), national correspondent for The Atlantic and author of China Airborne; David Frum (@davidfrum), former speechwriter for President George W. Bush and contributing editor for Newsweek/Daily Beast.

The Melissa Harris-Perry Show: No guest list at this time but after Saturday’s rah-rah Obama fest, your time may b better spent listening to some good music or taking a walk.

This Week with George Stephanopolis: Jake Tapper will sit in for George this Sunday. His guests are Obama campaign senior adviser David Axelrod and Sen. John McCain (R-AZ).

The roundtable panel guests are ABC News’ George Will, former Obama economic adviser and ABC News consultant Austan Goolsbee, Romney campaign adviser and president of The American Cause Bay Buchanan, radio and television host Tavis Smiley, and Fox News anchor Greta Van Susteren.

Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are former Republican candidate Newt Gingrich, Rep. Michele Bachmann (R-MI), Sen. Chuck Schumer (D-NY), and former Vermont Governor Howard Dean, and former National Security adviser to Pres, Jimmy Carter, Zbigniew Brzezinski.

The political roundtable guests are The Wall Street Journal‘s Peggy Noonan, The Washington Post‘s Michael Gerson, Mother JonesDavid Corn and CBS News’ John Dickerson.

The Chris Matthews Show: This week’s guests are Helene Cooper, The New York Times White House Correspondent; David Ignatius, The Washington Post Columnist; Rick Stengel, TIME Managing Editor; and Katty Kay, BBC Washington Correspondent.

Meet the Press with David Gregory: The MTP guest is Vice President Joe Biden.

On the roundtable panel are Mitt Romney supporter Sen. Kelly Ayotte (R-NH); Chief Economist from Mesirow Financial Diane Swonk; and NBC’s Chuck Todd and Tom Brokaw.

State of the Union with Candy Crowley: Joining Ms. Crowley are former Republican candidate Newt Gingrich; former Gov. Ted Strickland (D-OH) and former Rep. Tom Davis (R-VA); Sen. Dianne Feinstein (D-CA) and Rep. Mike Rogers (R-MI); National Journal‘s Major Garrett and budget experts Douglas Holtz-Eakin, and Alice Rivlin.

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”.

New York Times Editorial: A Clear Warning From the Jobs Numbers

This week’s economic news was mixed, but the employment report on Friday was unmistakably weak. The economy added only 115,000 jobs in April, versus 154,000 in March and 200,000-plus in each of the three months before that. Even taking into account that unusually warm winter weather probably distorted the recent results, the underlying trend shows an economy that has been creating about 175,000 jobs a month – enough to keep the recovery crawling along, but too weak to appreciably raise hiring or wages.

Nor is it clear where more growth will come from. Manufacturing picked up last month, but activity in the larger service sector slowed. Recent auto sales were up, and home sales have been slowly, if fitfully, improving, but home prices continue to fall. Consumer spending, in general, rose in the first quarter, but it appears to be driven by people who are profiting from a rising stock market. Increased market volatility, like Friday’s 168-point drop in the Dow Jones industrial average, would make them nervous and less inclined to spend.

Paul Krugman: The Rise of Orwellian Economics

These past few years have been lean times in many respects – but they’ve been boom years for agonizingly dumb, pound-your-head-on-the-table economic fallacies.

The latest fad – illustrated by a recent commentary article in The Wall Street Journal – is that expansionary monetary policy is a giveaway to banks and plutocrats generally. Indeed, that screed, titled “How the Fed Favors the 1 Percent” and written by the hedge-fund founder Mark Spitznagel, actually claims that the whole 1 versus 99 thing should really be about reining in or maybe abolishing the Federal Reserve. “The relentless expansion of credit by the Fed creates artificial disparities based on political privilege and economic power,” Mr. Spitznagel wrote.

What’s wrong with the idea that running the printing presses is a giveaway to plutocrats? Let me count the ways. First, the actual politics is utterly the reverse of what’s being claimed.

Robert Reich: The Stall Has Arrived

As I feared, the economy has stalled.

Friday’s jobs report for April was even more disappointing than March. Employers added only 115,000 new jobs, down from March’s number (the Bureau of Labor Statistics revised the March number upward to 154,000, but it’s still abysmal relative to what’s needed). At least 125,000 new jobs are necessary each month just to keep up with an expanding population of working-age people.

That means the hole is getting even deeper.

Most observers pay attention to the official rate of unemployment, which edged down to 8.1 percent in April from 8.2 percent in March. That may sound like progress, but it’s not. The unemployment rate dropped because more people dropped out of the labor force, too discouraged to look for work. The household survey, from which the rate is calculated, counts as “unemployed” only people who are actively looking for work. If you stop looking because the job scene looks hopeless for you, you’re no longer counted.

Howard Feinman: Kentucky Derby: As in Politics, You Need a Horse, and a Theory

LOUISVILLE — Once you come back here, as we did Thursday night, you remember what you used to know when you lived here but forgot: that everybody has to have a theory and a horse.

It doesn’t matter if you are a Louisvillian, or a regular visitor, or a first-timer. You are required to pick a horse, preferably a semi-obscure one, and have at the ready a plausible explanation — either impressively informed or simply wacko — for your cool choice.

There are 20 horses in the Derby, and already I’ve heard tips and touts about a half-dozen of them. Soon I will no doubt have heard an argument for each and every one.

The Derby is like politics in so many ways. Someone runs. Someone wins. People contribute money and get their hopes up. There is a weird sense that somehow all of your problems will be solved and the world will right itself if only you find the right contender.

Richard (RJ) Eskow: Geithner’s World, Part 1: Three Years Of Immunity

Here’s a walk down memory lane that’s worth taking, even if it makes your blood pressure spike a little: Three years ago Tim Geithner was in the position of having to explain why the Federal government wasn’t going to nationalize the nation’s failing banks. In 2009 many people expected that to be part of the government’s bank rescue plan.

Only three years. It seems so long ago, doesn’t it?

In 2009 there was a very compelling argument for a Federal takeover over these failing institutions, which had been so negligently (and very possibly criminally) mismanaged could no longer survive on their own. And while nationalization wasn’t the only course worth considering, this snapshot from our national past reflects the gravity of the crisis caused by bankers.

It’s also a useful reminder of the extent to which bank CEOs failed to pass even the most basic test of executive competence – namely, not destroying your own corporation.

Charles M. Blow: Teaching Me About Teaching

Next week is National Teacher Appreciation Week, and, as far as I’m concerned, they don’t get nearly enough.

On Tuesday, the United States Department of Education is hoping that people will take to Facebook and Twitter to thank a teacher who has made a difference in their lives. I want to contribute to that effort. And I plan to thank a teacher who never taught me in a classroom but taught me what it meant to be an educator: my mother.

She worked in her local school system for 34 years before retiring. Then she volunteered at a school in her district until, at age 67, she won a seat on her local school board. Education is in her blood.

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”.

Paul Krugman: Plutocracy, Paralysis, Perplexity

Before the Great Recession, I would sometimes give public lectures in which I would talk about rising inequality, making the point that the concentration of income at the top had reached levels not seen since 1929. Often, someone in the audience would ask whether this meant that another depression was imminent.

Well, whaddya know?

Did the rise of the 1 percent (or, better yet, the 0.01 percent) cause the Lesser Depression we’re now living through? It probably contributed. But the more important point is that inequality is a major reason the economy is still so depressed and unemployment so high. For we have responded to crisis with a mix of paralysis and confusion – both of which have a lot to do with the distorting effects of great wealth on our society.

Eugene Robinson: Afghanistan, For the Long Haul?

Show of hands: Does anybody really understand the U.S. policy in Afghanistan? Can anyone figure out how we’re supposed to stay the course and bring home the troops at the same time?

I’m at a loss, even after President Obama’s surprise trip to the war zone. The president’s televised address from Bagram air base raised more questions than it answered. Let’s start with the big one: Why?

According to Obama, “the United States and our allies went to war to make sure that al-Qaeda could never use this country to launch attacks against us.” I would argue that U.S. and NATO forces have already done all that is humanly possible toward that end. [..]

David Sirota: Property Rights in the Cloud

When you hear the phrase “property rights,” you probably think of farmers fighting environmental regulators and homeowners arguing with oil drillers. But in the Information Age, you should also be thinking about your computer-and asking, how much of you is really yours? It’s not a navel-gazing rumination from a college Intro to Existentialism class-it’s an increasingly pressing question in the brave new world of social networking and cloud computing.

Last week’s big technology announcement spotlighted the thorny issue. As the Los Angeles Times reported, Google’s announcement of its “Google Drive” came with the promise that users will “retain ownership of any intellectual property rights that you hold in that content.” But when you save files to Google’s new hard-drive folder in the cloud, the terms of service you are required to agree to gives Google “a worldwide license to use, host, store, reproduce, modify, create derivative works, communicate, publish, publicly perform, publicly display and distribute (your) content” as the company sees fit.

Kristen Breitweiser: Heights of Hypocrisy: The Universal Use of 9/11 in Politics

A year ago, I wrote a blog about the death of Osama bin Laden, “Today is Not a Day of Celebration for Me.”

I wrote the blog after witnessing so many Americans celebrating, fist-pumping, dancing, and reveling in the streets about the death of bin Laden.

Seeing so many Americans acting like that was too much of an uncomfortable reminder of those who celebrated in the streets during the attacks of 9/11 while men like my husband either burned alive, were crushed alive, or horrifically jumped to their deaths.

A year ago, what drove me to write was my sadness in bearing the sight of Americans celebrating the death of anyone — even the man largely responsible for the murder of my husband.

Now one year later, I am once again driven to write due to witnessing President Obama resort to the same campaign tactics as George W. Bush.

Frankly, for what it’s worth, it sickens me; and it saddens me.

New York Times Editorial: ‘Beyond Debate’

Jose Padilla, the American citizen detained as an enemy combatant after he was arrested by the Bush administration in May 2002, was denied contact with his lawyer, his family or anyone else outside the military brig for almost two years and kept in detention for almost four. His jailers made death threats, shackled him for hours, forced him into painful stress positions, subjected him to noxious fumes that hurt his eyes and nose and deafening noises at all hours, denied him care for serious illness and more.

This treatment was indisputably cruel, inhumane and shocking, in breach of the minimum standard required for anyone in American custody, especially a citizen. Some of it was torture, though Mr. Padilla should not have had to prove that to show his treatment was unconstitutional.

Robert Naiman: John Brennan Should Tell the Whole Truth About the Drone Strikes

On Monday, White House counterterrorism adviser John Brennan publicly addressed the U.S. use of drone strikes against suspected terrorists in countries with which the United States is not at war, like Yemen and Pakistan. The fact that Brennan publicly addressed the drone strikes is a significant improvement, long overdue. We can’t say we have meaningful democratic oversight over government policy if government officials refuse to talk about government policy in public – enabling us to challenge what they say – and it’s preposterous to claim that the drone strikes are “secret” when they are openly reported in the media.

But John Brennan didn’t tell the whole truth about the drone strikes. Brennan claimed that “the United States government conducts targeted strikes against specific al-Qaeda terrorists,” but Brennan didn’t admit that the U.S. has launched drone strikes in Pakistan and Yemen against people who are not known to be on any list of “suspected terrorists,” without knowing who would be killed.

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”.

Dennis Kucinich: We Are Not Exiting Afghanistan — We Are Staying

Yesterday, the president announced that the U.S. signed a Strategic Partnership Agreement with Afghanistan, committing the United States to the country for a long time to come. The agreement addressed the transition to Afghan-led security forces by 2014. Human and monetary costs to the U.S. will continue to skyrocket.  [..]

America has been lulled to sleep by the mind-boggling elongation of a war seven thousand miles away. The plain fact is we are not exiting Afghanistan, despite the appearances that the White House is trying to create. We are staying. Have we learned nothing from 10 years of quagmire? It is time to bring our troops home safely and responsibly.

Bryce Covert: The Recovery Is Really Good at Creating Bad Jobs

Indicators of the economic recovery weren’t stellar this quarter: consumer and business spending seem to have slowed down, making analysts nervous. Not to mention news out of Europe that the UK and Spain have slid back into recession. Yet it was just last month that a rosy jobs report from the Labor Department touting the addition of 227,000 jobs made some optimistic that we were finally about to experience a real recovery.

But that glow of returning job security isn’t necessarily going to shine on everyone, even if the recovery really does take hold. A report out on Monday from the International Labor Organization took a look at not just how many jobs are being created but perhaps an even more crucial question: What kinds of jobs are being created in the aftermath of the recession? And the answer isn’t heartening.

Howard Fineman: Mission Accomplished?

WASHINGTON – Where is the “Mission Accomplished” banner?

There was no aircraft carrier in Kabul and President Barack Obama wasn’t wearing a jumpsuit when he landed there in secret. But his drop-in on the one year anniversary of the death of Osama bin Laden was the most dramatically political photo-op by a president in a commander-in-chief role since President George W. Bush landed in a jet on the S.S. Abraham Lincoln in May 2003. [..]

We may have signed a new deal with Karzai, and the American troops are on their way out, though perhaps 20,000 will stay for a decade or more.

What exactly have we accomplished there? That’s a deeper question, but it’ll have to wait until after Osama Week.

Henry A. Giroux: Violence, USA: The Warfare State and the Brutalizing of Everyday Life

Since 9/11, the war on terror and the campaign for homeland security have increasingly mimicked the tactics of the enemies they sought to crush. Violence and punishment as both a media spectacle and a bone-crushing reality have become prominent and influential forces shaping American society. As the boundaries between “the realms of war and civil life have collapsed,” social relations and the public services needed to make them viable have been increasingly privatized and militarized.(1) The logic of profitability works its magic in channeling the public funding of warfare and organized violence into universities, market-based service providers and deregulated contractors. The metaphysics of war and associated forms of violence now creep into every aspect of American society.

Bill Boyarsky: Organizers, Not Occupiers: The Young People Working in the Shadows of a National Movement

By chance, the revelation of how Apple evades millions of dollars in taxes broke three days before May Day, when workers of the world traditionally protest such injustice.

Although the Apple practices aren’t illegal, the dodging of taxes on revenue generated, to a large extent, by low-wage Chinese workers, was a perfect introduction to this year’s May 1 observance, highlighted by the Occupy movement’s call for strikes and demonstrations around the country. The goal: Protest corporate domination of an economy being pulled downward by growing income inequality and intractable unemployment.

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

Katrina vanden Huevel: Free college? We can afford it.

Student loans set off the latest Washington spitball fight. The House Republican budget called for letting interest rates double on government-subsidized student loans (and for deep cuts in Pell Grants and other student support). Students who borrow the maximum in subsidized loans would end up paying as much as $1,000 a year in added interest. Last week, President Obama sensibly called for extending the lower rate and starting stumping through colleges and talk shows to enlist students in the cause.

Republican leaders quickly calculated the perils of angering young voters. Mitt Romney flipped over to support extending the lower rates. House Republicans passed an extension, taunting the president by paying for it using a preventive health fund in the Affordable Care Act. Senate Democrats propose to pay for the extension by closing a tax dodge that doctors, lawyers and small businesses use to avoid payroll taxes. The standoff allows for what has now become the routine exchange of insults, slurs and posturing before a deal is worked out at the last possible moment.

Ignored in this is the stark reality that even with the lower rates, more and more students can’t afford the college education or advanced training that everyone except for Rick Santorum believes they need.

Joan Walsh: What Rachel Maddow said

Women still face pay bias, no matter how much (or how disrespectfully) GOP flacks want to deny it

I’m thrilled that Rachel Maddow has her own show, but I still sometimes miss her as a news-show guest. Maddow the guest always brings the facts, usually with charm, and sometimes with an edge of outrage at the behavior of her conservative sparring partners. As the host, she has to stick to charm (while still well-armed with facts) on the rare occasion she gets Republican guests on her show.

Her “Meet the Press” debate with Alex Castellanos Sunday was one for the ages. The Republican who defended calling Hillary Clinton a “white bitch” in 2008 (“Some women, by the way, are named that, and it’s accurate,” he told CNN’s Jeffrey Toobin) tried to confound Maddow with divergent claims about whether women are paid less than men – “actually no,” he insisted; then he admitted they are, but there are reasons for it. And when he couldn’t confound Maddow, he condescended.

Alexis Goldstein: Why I Had to Get Out: Confessions of a Wall Street Insider

The culture of Wall Street is pervasive and contagious. I drank the Kool Aid. I’m out of it now. But I’d like to tell you what it was like.

When some people think about Wall Street, they conjure up images of traders shouting on the stock exchange, of bankers dining at five-star restaurants, of CEOs whispering in the ears of captured Congress members.

When I think about Wall Street, I think about its stunted rainbow of pale pastel shirts. I think about the vaulting, highly secured, and very cold lobbies. And I think about the art passed daily by the harried workers, virtually unseen.

Before I occupied Wall Street, Wall Street occupied me. What started as a summer internship led to a seven-year career. During my time on Wall Street, I changed from a curious college student full of hope for my future into a cynical, bitter, depressed, and exhausted “knowledge worker” who felt that everyone was out to screw me over.

The culture of Wall Street is pervasive and contagious. While there are Wall Street employees who are able to ignore or block it out, I was not one of them. I drank the Kool Aid. I’m out of it now. But I’d like to tell you what it was like.

Maureen Dowd: Libertine on the Loose

It’s the most chilling warning you can hear in France: Dominique Strauss-Kahn is out on the town, looking for a good time.

When Julien Dray, a prominent Socialist Party deputy, had a birthday party for himself Sunday night at a cocktail lounge, he didn’t bother to tell his V.I.P. guests that he had invited the most notorious man in France.

The randy economist – once considered the leading prospect to beat Nicolas Sarkozy before a swan dive from grace – could not resist popping up as a Socialist Party pooper on the eve of the election.

Rebecca Solnit: American Dystopia: Welcome to the 2012 Hunger Games

Sending Debt Peonage, Poverty, and Freaky Weather Into the Arena

When I was growing up, I ate books for breakfast, lunch, and dinner, and since I was constantly running out of reading material, I read everyone else’s — which for a girl with older brothers meant science fiction. The books were supposed to be about the future, but they always turned out to be very much about this very moment. [..]

We now live in a world that is wilder than a lot of science fiction from my youth. My phone is 58 times faster than IBM’s fastest mainframe computer in 1964 (calculates my older brother Steve) and more powerful than the computers on the Apollo spaceship we landed on the moon in 1969 (adds my nephew Jason). Though we never got the promised jetpacks and the Martians were a bust, we do live in a time when genetic engineers use jellyfish genes to make mammals glow in the dark and nerds in southern Nevada kill people in Pakistan and Afghanistan with unmanned drones.  Anyone who time-traveled from the sixties would be astonished by our age, for its wonders and its horrors and its profound social changes. But science fiction is about the present more than the future, and we do have a new science fiction trilogy that’s perfect for this very moment.

Paula Crossfeild Pink Slime and Mad Cow Just the Tip of the Iceberg

Following on the heels of pink slime, mad cow disease (AKA bovine spongiform encephalopathy-or BSE) is back this week after a California dairy cow destined for a rendering plant that makes pet food was found to have the disease. So far, it looks like the beef industry is playing down the finding, hoping to dodge a loss in sales at home and abroad. The U.S. Department of Agriculture was quick to tell Americans that our food supply is entirely safe. But the re-emergence of mad cow and the conversation around pink slime has re-opened questions about our food system. It has exposed how food safety falls inevitably through the cracks in a country where over 9 billion animals are being slaughtered per year and budgets for the departments that oversee these processes are being slashed. The incredible media coverage of both issues reflects a growing consumer interest in more transparency in what we’re eating and how it’s being produced.

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”.

Tom Engelhardt: The Obama Contradiction

He has few constraints (except those he’s internalized).  No one can stop him or countermand his orders.  He has a bevy of lawyers at his beck and call to explain the “legality” of his actions.  And if he cares to, he can send a robot assassin to kill you, whoever you are, no matter where you may be on planet Earth.

He sounds like a typical villain from a James Bond novel.  You know,  the kind who captures Bond, tells him his fiendish plan for dominating the planet, ties him up for some no less fiendish torture, and then leaves him behind to gum up the works.

As it happens, though, he’s the president of the United States, a nice guy with a charismatic wife and two lovely kids.

How could this be?

Eugene Robinson: Witch Hunt for the Zombie Voter

Republicans are waging the most concerted campaign to prevent or discourage citizens from exercising their legitimate voting rights since the Jim Crow days of poll taxes and literacy tests.

Four years ago, Democrats expanded American democracy by registering millions of new voters-mostly young people and minorities-and convincing them to show up at the polls. Apparently, the GOP is determined not to let any such thing happen again.

According to the nonpartisan Brennan Center for Justice at New York University, which keeps track of changes in voting laws, 22 statutes and two executive actions aimed at restricting the franchise have been approved in 17 states since the beginning of 2011. By the center’s count, an additional 74 such bills are pending.

Mike David: Why Are We Striking? Or to Put it Another Way – What’s Wrong with the World?

Of course, most of us know what’s wrong with the world. We know about the poverty, war, violence and disease. We’re conscious of the injustice, but not fully conscious of it, because frankly, we have enough to worry about in our own lives. As such, we’ve come to accept these injustices as simple facts of life – prepackaged side effects of the human condition, as natural and intertwined with our existence as water to a stream, beyond our capacity to effect in any significant way. This collective sense of powerlessness and default apathy is why we’re striking.

Our growing sense of isolation and disconnection, whether from ourselves, from those next door to us, or from those producing our food and products halfway across the globe, is why we’re striking. Our forced support of perpetual war waged for and by the 1% – whether explicitly with speech, or implicitly with inaction and tax dollars – without ever paying mind to the true causes and motives behind it, is why we’re striking. Our failure uptil now to connect the dots and realize that the benefits of a cheap iPod, lovely as it may be, would be far outweighed by the benefits of a truly just world free of exploitation, is why we’re striking.

Michelle Chen: Freeing the University: Education Occupation on May Day

Pop quiz: what’s the value of an American education? To some, it’s a booming industry that preys on debt-crippled students. But to the educators, youth and workers who keep the system running, school increasingly seems like it’s just not worth the struggle. This May Day, masses of working people-and students who are working to build a future for themselves-are converging in New York City to rethink education and test those ideas in the real world.

Everyone understands that merit and hard work should pay off somehow in the economy. But the narrowing and commercialization of education at every level, from preschool to postdoc, has drained people’s academic aspirations and bank accounts.

On May 1, following the massive 1T Day rally against the “student debt bubble,” the Free University of New York City will bring together various Occupy-inspired grassroots education experiments. Combined with other May Day-related Occupy demonstrations, the program of workshops and talks aims to put theories of “horizontal pedagogy” into practice by inviting regular folks to learn about and question the systems surrounding them: the economy, politics, and school itself.

Glenn Greenwald: Dog-Training the Press Corps

Journalists who heap the most lavish praise on the White House are rewarded with the most valuable treats

This weekend, the annual White House Correspondents’ Dinner was held, and it is – as Gawker’s Hamilton Nolan explained in the best analysis ever of that event – the purest expression of the total blending of political power, media subservience, and vapid celebrity in one toxic, repulsive, and destructive package. It’s imperial rot – the Versailles virus – in its most virulent form. Of course, Stephen Colbert, in the best political speech of the last decade, used his appearance at that banquet in 2006 to clearly set forth the rules by which they function:

But, listen, let’s review the rules. Here’s how it works. The President makes decisions. He’s the decider. The press secretary announces those decisions, and you people of the press type those decisions down. Make, announce, type. Just put ’em through a spell check and go home. Get to know your family again. Make love to your wife. Write that novel you got kicking around in your head. You know, the one about the intrepid Washington reporter with the courage to stand up to the administration? You know, fiction!

Chris Hedges: Welcome to the Asylum

When civilizations start to die they go insane. Let the ice sheets in the Arctic melt. Let the temperatures rise. Let the air, soil and water be poisoned. Let the forests die. Let the seas be emptied of life. Let one useless war after another be waged. Let the masses be thrust into extreme poverty and left without jobs while the elites, drunk on hedonism, accumulate vast fortunes through exploitation, speculation, fraud and theft. Reality, at the end, gets unplugged. We live in an age when news consists of Snooki’s pregnancy, Hulk Hogan’s sex tape and Kim Kardashian’s denial that she is the naked woman cooking eggs in a photo circulating on the Internet. Politicians, including presidents, appear on late night comedy shows to do gags and they campaign on issues such as creating a moon colony. “At times when the page is turning,” Louis-Ferdinand Celine wrote in “Castle to Castle,” “when History brings all the nuts together, opens its Epic Dance Halls! hats and heads in the whirlwind! Panties overboard!”

The quest by a bankrupt elite in the final days of empire to accumulate greater and greater wealth, as Karl Marx observed, is modern society’s version of primitive fetishism. This quest, as there is less and less to exploit, leads to mounting repression, increased human suffering, a collapse of infrastructure and, finally, collective death. It is the self-deluded, those on Wall Street or among the political elite, those who entertain and inform us, those who lack the capacity to question the lusts that will ensure our self-annihilation, who are held up as exemplars of intelligence, success and progress. The World Health Organization calculates that one in four people in the United States suffers from chronic anxiety, a mood disorder or depression-which seems to me to be a normal reaction to our march toward collective suicide. Welcome to the asylum.

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”.

Paul Krugman: Wasting Our Minds

In Spain, the unemployment rate among workers under 25 is more than 50 percent. In Ireland almost a third of the young are unemployed. Here in America, youth unemployment is “only” 16.5 percent, which is still terrible – but things could be worse.

And sure enough, many politicians are doing all they can to guarantee that things will, in fact, get worse. We’ve been hearing a lot about the war on women, which is real enough. But there’s also a war on the young, which is just as real even if it’s better disguised. And it’s doing immense harm, not just to the young, but to the nation’s future.

New York Times Editorial: The Economy Downshifts

The slow start for the economy in 2012 – an annual rate of 2.2 percent in the first three months of the year – is evidence that the recovery is too weak to push joblessness much lower than its current 8.2 percent, and too fragile to withstand the kinds of budget cuts Congressional Republicans are proposing.

First-quarter growth was not far off the recent average pace and conditions are certainly worse elsewhere, with many European nations in recession. But that’s false comfort. To make up the damage the Great Recession did to jobs, income, wealth and confidence, the economy needs consistent above-average growth. Europe’s problems will only exacerbate America’s own, by shaving growth from exports or, in a worst case, by destabilizing banks that are linked to the European financial system.

Robert Kuttner: Europe’s Banks Versus European Democracy

PARIS — There is a celebrated observation of the 1920s Italian radical, Antonio Gramsci, that perfectly fits the economic paralysis of today’s Europe: “The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.”

A week before the final round of the French presidential election, which is very likely to propel the Socialist, Francois Hollande, to the Elysee Palace, it is hard to see how even a left government in a single European nation can defy the austerity consensus.

Mike Lux: Banking Wars

The banking wars are getting more and more interesting. The legal and political implications are bigger than most people understand, and the players involved need to be very careful with the loaded guns they are gesturing with or they might shoot themselves in the foot (or perhaps an even more vulnerable body part.)

Underlying the entire drama is this fundamental subtext: the American people are fundamentally (and correctly) cynical about how the big bankers always seem to get away with whatever they want to get away with. Bailing out the bankers with no strings attached in order to save an economy that didn’t seem to most people to be very well saved, then watching the banks get record profits and bonuses the very next year while the rest of the economy was in the toilet didn’t engender much good cheer about whether justice had been done. Neither have the tons of books, news articles, and blog posts about the things these bankers were able to get away with in the course of the buildup to the crisis and the things that have happened since.

Robert Reich: The GOP’s Death Wish: Why Republicans Can’t Stop Pissing Off Hispanics, Women, and Young People

What are the three demographic groups whose electoral impact is growing fastest? Hispanics, women, and young people. Who are Republicans pissing off the most? Latinos, women, and young people.

It’s almost as if the GOP can’t help itself.

Start with Hispanic voters, whose electoral heft keeps growing as they comprise an ever-larger portion of the electorate. Hispanics now favor President Obama over Romney by more than two to one, according to a recent Pew poll. [..]

How can a political party be so dumb as to piss off Hispanics, women, and young people? Because the core of its base is middle-aged white men — and it doesn’t seem to know how to satisfy its base without at the same time turning off everyone who’s not white, male, and middle-aged.

E. J. Dionne, Jr.: Connecticut’s Death Penalty Message

GREENWICH, Conn.-Since the 2010 elections, the activism of newly empowered conservative and Republican state legislatures has gained national attention with their wars on public employee unions, additional restrictions on abortion and new barriers to voting.

Against this backdrop, the little state of Connecticut has loomed as a large progressive exception. Last year, it became the first state to require employers to grant paid sick leave. It also enacted a law granting in-state tuition to students whose parents brought them to the United States illegally as young children.

And last week, Connecticut Gov. Dan Malloy signed a law repealing the state’s death penalty. There are now 17 states without capital punishment, Illinois having joined the ranks last year. What happened in Connecticut brings home the flaw in seeing everything that has happened in the states since the midterm vote as embodying a steady shift rightward.

Punting the Pundits: Sunday Preview Edition

Punting the Punditsis 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”.

The Sunday Talking Heads:

Up with Chris Hayes: On Sunday the Chis and his panel guests will discuss the Occupy movement’s May Day plans, the relationship between the Labor movement and Democrats, and how conservative preference for austerity is working out for the UK economy. Joining Chris will be: Rep. Jerrold Nadler (D-NY) (@repjerrynadler), represents part of Manhattan and Brooklyn, serves on the Judiciary and Transportation & Infrastructure committees; Randi Weingarten (@rweingarten), president of the American Federation of Teachers; Bill Fletcher, co-founder of the Center for Labor Renewal; Marina Sitrin, member of the Occupy Wall Street Legal Working Group; and Daron Acemoglu, author of Why Nations Fail.

The Melissa Harris-Perry Show: No information at this time.

This Week with George Stephanopolis: this Sunday’s guest is White House counterterrorism adviser John Brennan; a special “This Week” panel, in partnership with the University of Virginia’s Miller Center, tackles the critical topic, “America’s Economic Recovery: Is It Built to Last?” with panelists Carly Fiorina, former CEO of Hewlett-Packard and co-chair of Mitt Romney’s California campaign; Jennifer Granholm, former Michigan governor and host of Current TV’s “The War Room” ; Paul Krugman, Nobel Prize-winning economist and New York Times columnist; Eric Schmidt, executive chairman and former CEO of Google; David Walker, former Comptroller General and Founder and CEO of the Comeback America Initiative; and George Will, ABC News commentator and Pulitzer Prize-winning Washington Post columnist.

Face the Nation with Bob Schieffer: Guests are former Mississippi Governor, former Chairman of the Republican Party Haley Barbour and Los Angeles Mayor Antonio Villaraigosa; California Gov. Jerry Brown; and Time Magazine Contributors Graham Allison and Peter Bergen, author of Manhunt: The Ten-Year Search for Bin Laden, Washington Post columnist David Ignatius and CBS News Senior Correspondent John Miller look at the ongoing War on Terror.

The Chris Matthews Show: This week’s guests are Helene Cooper, The New York Times White House Correspondent; David Ignatius, The Washington Post Columnist; Rick Stengel, TIME Managing Editor; and Katty Kay, BBC Washington Correspondent.

Meet the Press with David Gregory: Gregory’s guest are Robert Gibbs from team Obama and Ed Gillespie from the Romney campaign; joining the roundtable: Democratic strategist Hilary Rosen is back to weigh in on the campaign along with Vice Chair of the House Republican Conference Rep. Cathy McMorris Rodgers (R-WA), MSNBC’s Rachel Maddow, and Republican strategist Alex Castellanos.

State of the Union with Candy Crowley: An exclusive sit-down interview with the Speaker of the House, John Boehner; President Obama’s top counterterrorism adviser, John Brennan; Governors Brian Schweitzer (D-MT) and Bob McDonnell (R-VA); and Time magazine’s Michael Duffy and Nancy Gibbs on their new book “The Presidents Club.”

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”.

New York Times Editorial: Cars, Trains and Partisan Posturing

The transportation bill is vital, providing billions of dollars to states and communities to build and repair roads, ensure bridges are safe and improve mass transit for millions of commuters. It also sustains some 2.9 million jobs, many in the hard-pressed construction industry.

The Senate gets the importance of this legislation – and the danger of playing partisan games with it. The House does not.

The bipartisan Senate bill calls for investing $109 billion on critical projects over two years. This would keep spending at present levels by supplementing gas-tax revenues – the main source of financing for transportation programs – with money from other parts of the federal budget. In recent years, gas taxes have dwindled even as construction costs rose.

The House bill, by stark contrast, would extend current financing for three months, but makes no provision for sustaining programs over the long haul. The problems don’t end there.

Michael Weibot: Breaking the Eurozone’s Self-Defeating Cycle of Austerity

It has become a ritual: every six months, I debate the IMF at their annual meetings, the last two times represented by their deputy director for Europe. It takes place in the same room of that giant greenhouse-looking World Bank building on 19th Street in Washington, DC. And each time, the IMF’s defense of its policies in the eurozone does not get any stronger.

Maybe, it’s because most economists at the IMF don’t really believe in what they are doing. The fund is, after all, the subordinate partner of the so-called “troika” – with the European Commission and the European Central Bank (ECB) – calling the shots. And most fund economists know their basic national income accounting: fiscal tightening is going to make these economies worse, as it has been doing. Those that have tightened their budgets the most – for example, Greece and Ireland – have shrunk the most, as would be predicted.

Amitabh Pal: Austerity is Killing Europe

The austerity fetish of those making economic decisions is killing Europe’s economy.

The last few days have provided further proof.

“Spain officially slipped back into recession for the second time in three years Monday, after following the German remedy of deep retrenchment in public outlays, joining Italy, Belgium, the Netherlands and the Czech Republic,” the New York Times reported this week.

And more bad news has followed.

“Britain slid back into recession in the first quarter of the year, according to official figures released Wednesday, undercutting the government’s argument that its austerity program was working,” says today’s Times.

But those in charge seem to be eternally clueless.

Michelle Chen: Depression Symptoms: What’s Behind Europe’s Spike in Suicides

The metaphor of suicide has been used to depict the downward spiral surrounding countries bludgeoned by the economic crisis-particularly U.S. and Eurozone communities plagued by epidemic joblessness and a rash of budget cuts. Now the term literally describes the psychological dimension of the crisis, according to studies on suicide rates.

Some symptoms of the social despair have been grimly spectacular. Greece was jolted one recent morning after aging pensioner Dimitris Christoulas put a pistol to his head in Athens’s main square. In 2010 Americans were shaken by the suicide-by-plane of Andrew Stack, whose anger at the political establishment propelled him into an Austin office complex. Poorer regions have flared with public self-immolations, particularly in the communities of the “Arab Spring” where many youth come to see life as a dead-end street. Underlying these more dramatic examples are statistical patterns that reflect society’s unraveling.

A recently published Lancet study showed spikes in suicide across Europe during the recession. While many factors could contribute to this pattern, researchers found a significant correlation between unemployment and suicide trends.

Robert C. Koehler: States of Fear in a World of Injustice

This was the headline: “Zimmerman, Martin’s parents to face off in court.”

The words, of course, merely summed up a moment in the news cycle last week. We, the news-consuming public, were primed – by CBS, but it could have been any mainstream outlet – for a tidbit of potential drama the next day in the hottest murder trial around right now. But in the process, we were also silently reminded, yet again, that everything is spectacle. At the level at which we call ourselves a nation, nothing is serious, not even matters of life and death

There’s something so painful about all this – painful beyond the horror of the crime itself, or the national murder rate. The 24-7 media trivialize the stakes and gleefully report the “courtroom drama” as a sporting event; but even more distressingly, the legal bureaucracy swings into motion without the least awareness of any value beyond its own procedures. It all happens with a certainty of purpose that generates the illusion that things are under control and social order prevails.

But none of this has anything to do with what social order actually requires when harm has occurred, which is . . . healing.

Scientists Cry Fowl Over the FDA’s Regulatory Failure

Overuse of antibiotics in factory farming kills thousands every year, yet the industry is force-feeding chickens pharmaceuticals

In 2005, the antibiotic fluoroquinolone was banned by the FDA for use in poultry production. The reason for the ban was an alarming increase in antibiotic-resistant campylobacter bacteria in the meat of chickens and turkeys – “superbugs”, which can lead to a lethal form of meningitis that our current antibiotics are no longer effective against.

Antibiotic-resistant infections kill tens of thousands of people every year, more than die of AIDS, according to the Infectious Diseases Society of America. This problem is on the rise because antibiotics are recklessly overused, especially in the commercial livestock industry, where 80% of all antibiotics manufactured in the US end up.

Fluoroquinolone used to be fed to chickens primarily to stimulate their growth. But why did the banned substance show up recently in eight of 12 samples of “feather meal”, the ground-down plumage leftover from commercial poultry production?

Load more