Tag: Open Thread

Aug 13 2011

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: United States vs. Europe: Who Is Worse Off?

In recent online commentary for The New York Times, Simon Johnson, the former chief economist for the International Monetary Fund, considered who is in worse shape – America or Europe?

“In the near term, the Europeans have the bigger problem – and this will only be compounded by slower growth in the United States (home to about one-quarter of the world economy),” Mr. Johnson wrote on July 28. “Over the longer haul, it remains to be seen when and how politicians in the United States will take up the real budget issues.”

Basically I agree with his assessment: Europe has more fundamental problems in sheer economic terms, because it adopted a single currency without the necessary institutions to make it workable. The United States has a long-run budget problem, but our current mess is entirely political. Unfortunately, that doesn’t make it any easier to solve.

New York Times Editorial: Magical Unrealism

There was nothing particularly surprising about the shrill skirmishing at the ideological edges of Thursday night’s Republican presidential debate in Iowa. What was shocking were the antics in the center.

In full public view, the party’s mainstream jumped the tracks of reality on issues of spending and taxes, brightly illustrating the ruinous magical thinking that has led to a downgrade of the nation’s credit and invited a double-dip recession. When asked if they would reject a deal to cut the deficit that had 10 times the amount of spending cuts as it had tax increases, the hands of all eight candidates went up. Even a tincture of new revenue, though mixed with huge cuts in government spending, would be too much for the modern Republican Party.

Jacqueline Marcus: Why Did Obama Choose Oil Money Over Struggling Polar Bears Facing Extinction?

At some point, there has to be a line drawn between corporate profits and the sanctity of life.  True, these are extremely hard times for the majority of jobless Americans, and the harder it gets for them financially speaking, the easier it becomes for the oil and coal executives to get their way, which doesn’t take much when they’ve successfully corrupted legislators to such a far-reaching extent that it’s easy to prove there is no distinction between the U.S. government and the oil and coal industries.  They put down the big piles of cash-and they get what they want.  

Operating in a corrupt political system explains why this president cares about one thing and one thing only: getting re-elected and making sure that he gets plenty of corporate money to compete against the Republican candidate who will also receive millions of dollars from the same industrial polluters.  As journalist Travis Smiley and Princeton University Professor Cornel West explained to Amy Goodman on Democracy Now! : “Obama is associated much more with the oligarchs than with poor people.”  If starving children in America don’t sway the heart, will dying polar bears?

This is a president who threw his own people under the bus in order to please the billionaire oligarchs.  For example, the Obama White House refused to be associated with Wisconsin’s union protesters as reported in the New York Times “when West Wing officials discovered that the Democratic National Committee had mobilized Mr. Obama’s national network to support the protests, they angrily reined in the staff at the party headquarters.”

Charles M. Blow: Genuflecting to the Tea Party

I must confess that every time Representative Michele Bachmann uttered the phrase “as president of the United States” during Thursday’s Republican presidential debate I blacked out a little bit, so I’m sure that I missed some things.

But one thing that I didn’t miss was the moment when all the candidates raised their hands, confirming that they felt so strongly about not raising taxes that they would all walk away from a hypothetical deficit-reduction deal that was as extreme as 10 parts spending cuts to one part tax increases.

That moment should tell every voter in America everything about this current crop of Know-Nothings – no person who would take such a stance is fit to be president of the United States or any developed country.

William Rivers Pitt: Next Stop: Train Wreck

And so here we are, at the next stage of this comic opera/disaster movie/smash-and-grab robbery known as the “debt-limit crisis.” Leadership in both the House and Senate have tapped the twelve members who will make up the so-called “Super-Committee,” which will be responsible for coming up with a plan to cobble together $1.2 trillion in spending cuts by Thanksgiving.

It is a motley crew, to be sure.

The Republican side of the equation is comprised of Senators Rob Portman (Ohio), John Kyl, (Arizona), and Patrick Toomey (Pennsylvania), along with Representatives Fred Upton (Michigan), Jeb Hensarling (Texas) and Dave Camp (Pennsylvania). To a man – and note well that Republican leadership selected a racially and sexually homogenized crew for this – they are hard-liners who will likely not budge when it comes to tax revenues. Kyl is a boon companion of GOP Senator Mitch McConnell, Toomey was once president of the far-right group Club for Growth, and Portman used to be budget director for none other than George W. Bush. Each and every one of these men has taken Grover Norquist’s anti-tax pledge, which bodes very ill for any revenue enhancements making it into the deal.

Joe Nocera: Boycott Campaign Donations!

Howard Schultz, the chairman and chief executive of Starbucks, has always been the kind of boss who wears his heart on his sleeve. So it came as no surprise to Starbucks employees when, on Monday, he sent out a long, passionate, companywide e-mail entitled “Leading Through Uncertain Times.”

In it, he wrote about his frustration over “the lack of cooperation and irresponsibility among elected officials as they have put partisan agendas before the people’s agenda” – creating an enormous crisis of confidence in the process. He said that Starbucks had a responsibility “to act in ways that can ease the collective anxiety inside and outside the company.” It needed to continue creating jobs. It had to maintain its generous package of employee benefits. And it was critical, Schultz wrote, for employees “to earn our customers’ trust by being respectful of their own life situations – whatever it may be.”

Mary Bottari: Recall Walker? It’s Up to Feingold

For the first time in the state’s history, Wisconsin recalled two sitting State Senators simultaneously. While it was a difficult and historic achievement in two districts that voted for Scott Walker in 2010, it fell short of the three seats needed to flip the Senate from Republican to Democratic control and put the brakes on Governor Scott Walker’s radical agenda.

While Walker’s collective bargaining bill sparked the recalls, voters were also worried about the state budgetary moves which cut almost a brillion from local schools, while giving out $200 million in tax breaks for big corporations. No jobs plan (other than tax breaks) has been proposed and, contrary to spin from the Governor, joblessness is growing in this state at twice the rate of the federal level.

Aug 13 2011

On This Day In History August 13

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.

Click on image to enlarge

August 13 is the 225th day of the year (226th in leap years) in the Gregorian calendar. There are 140 days remaining until the end of the year.

On this day in 1521, the Aztec capital, Tenochtitlan falls to Cortes:

After a three-month siege, Spanish forces under Hernan Cortes capture Tenochtitlan, the capital of the Aztec empire. Cortes’ men leveled the city and captured Cuauhtemoc, the Aztec emperor.

Tenochtitlan was founded in 1325 A.D. by a wandering tribe of hunters and gatherers on islands in Lake Texcoco, near the present site of Mexico City. In only one century, this civilization grew into the Aztec empire, largely because of its advanced system of agriculture. The empire came to dominate central Mexico and by the ascendance of Montezuma II in 1502 had reached its greatest extent, extending as far south as perhaps modern-day Nicaragua. At the time, the empire was held together primarily by Aztec military strength, and Montezuma II set about establishing a bureaucracy, creating provinces that would pay tribute to the imperial capital of Tenochtitlan. The conquered peoples resented the Aztec demands for tribute and victims for the religious sacrifices, but the Aztec military kept rebellion at bay.

After the conquest

Cortes subsequently directed the systematic destruction and leveling of the city and its rebuilding, despite opposition, with a central area designated for Spanish use (the traza). The outer Indian section, now dubbed San Juan Tenochtitlan, continued to be governed by the previous indigenous elite and was divided into the same subdivisions as before.

Ruins

Some of the remaining ruins of Tenochtitlan’s main temple, the Templo Mayor, were uncovered during the construction of a metro line in the 1970s. A small portion has been excavated and is now open to visitors. Mexico City’s Zócalo, the Plaza de la Constitución, is located at the location of Tenochtitlan’s original central plaza and market, and many of the original calzadas still correspond to modern streets in the city. The Aztec sun stone was located in the ruins. This stone is 4 meters in diameter and weighs over 20 tonnes. It was once located half way up the great pyramid. This sculpture was made around 1470 CE under the rule of King Axayacatl, the predecessor of Tizoc, and is said to tell the Aztec history and prophecy for the future.

Aug 12 2011

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: The Hijacked Crisis  

Has market turmoil left you feeling afraid? Well, it should. Clearly, the economic crisis that began in 2008 is by no means over.

But there’s another emotion you should feel: anger. For what we’re seeing now is what happens when influential people exploit a crisis rather than try to solve it.

For more than a year and a half – ever since President Obama chose to make deficits, not jobs, the central focus of the 2010 State of the Union address – we’ve had a public conversation that has been dominated by budget concerns, while almost ignoring unemployment. The supposedly urgent need to reduce deficits has so dominated the discourse that on Monday, in the midst of a market panic, Mr. Obama devoted most of his remarks to the deficit rather than to the clear and present danger of renewed recession.

New York Times Editorial: A Scalpel, Not an Ax, for Medicaid

Many states are struggling to balance their budgets by curbing spending on Medicaid, a joint state-federal program that provides health insurance for the poor and disabled. They have little choice because Medicaid is one of their biggest, fastest-growing expenses. The risk is that injudicious cuts could harm their most vulnerable citizens.

A lawsuit, which the Supreme Court is scheduled to hear in the coming term, will determine whether there is any recourse for Medicaid beneficiaries who may have less access to health care because of such cuts. Beneficiaries need the right to sue – and to negotiate legal settlements – so that they can force states to consider whether reducing provider payments will limit access to care.

Joe Conason: Franken Calls for Oversight of Ratings Agencies

With world markets suddenly sagging under the weight of the Standard & Poor’s Aug. 5 downgrade of Treasury bonds, Sen. Al Franken, D-Minn., is disturbed by the monopolistic power of the ratings agencies-and still determined to curb their abuses, as he tried to do last year with an amendment to the Dodd-Frank banking reform bill.

In an exclusive Monday interview for The National Memo, the Minnesota Democrat said that the misconduct of the ratings agencies led directly to the economic catastrophe that S&P’s rating decision has made even worse. Franken wondered aloud why his proposed reforms of the ratings industry should still be subject to “study” rather than action by the Securities and Exchange Commission.

David Sirota: Collateral Damage in the War on Anonymity

From warrantless wiretapping to ever-present surveillance cameras, our world is right now in the midst of a long war on anonymity.

In the media and political arenas, we’ve seen paparazzi culture famously fetishize the outing of anonymous iconoclasts, from Watergate’s Deep Throat (Mark Felt) to a top CIA agent working on weapons of mass destruction (Valerie Plame). Likewise, in our communities, we now know that we are almost always being monitored in highly trafficked parks, malls, airports and stadiums-and as Slate recently reported, we may soon have apps on all of our smartphones that let us identify random faces in a crowd.

Eugene Robinson: Washington Deserves America’s Disapproval

It’s sobering that three-fourths of Americans, according to a new Washington Post poll, have little or no confidence in our elected leaders to solve the nation’s economic problems. At this point, though, it’s hardly surprising.

If anything, we should be shocked and alarmed that 26 percent of our fellow citizens apparently believe the president and Congress are going to make it all better. Are they not paying attention? Or are they delusional?

The manic-depressive swings we’ve seen in the stock market all week just serve to heighten the general anxiety, like the soundtrack of a horror film. Seesaw gains or losses of hundreds of points on the Dow tend to mask the overall trend, which is downward-and also distract attention from the fact that markets in Europe and Asia are heading in the same direction. The world is trillions of dollars poorer than it was just a couple of weeks ago.

Trillions, by the way, are the new billions.

Bill Boyarsky: America Is a Spark Away From Riots of Its Own

As President Barack Obama tried to calm a United States facing the threat of financial disaster, riots raged across the Atlantic in London and other British cities. Could it happen here, as our nation adopts British-style austerity and suffers through worsening unemployment? It certainly could, just as it has in the past.

As a reporter and then a columnist for the Los Angeles Times 20 years ago I covered the genesis, the explosion and the aftermath of the Los Angeles riot of 1992, described by author Lou Cannon as “the nation’s deadliest race riot since the Civil War.”

Aug 12 2011

On This Day In History August 12

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.

Click on image to enlarge

August 12 is the 224th day of the year (225th in leap years) in the Gregorian calendar. There are 141 days remaining until the end of the year.

It is the peak of the Perseid meteor shower. It is also known as the “Glorious Twelfth” in the UK, as it marks the traditional start of the grouse shooting season.

On this day in 1990, fossil hunter Susan Hendrickson discovers three huge bones jutting out of a cliff near Faith, South Dakota. They turn out to be part of the largest-ever Tyrannosaurus rex skeleton ever discovered, a 65 million-year-old specimen dubbed Sue, after its discoverer.

Amazingly, Sue’s skeleton was over 90 percent complete, and the bones were extremely well-preserved. Hendrickson’s employer, the Black Hills Institute of Geological Research, paid $5,000 to the land owner, Maurice Williams, for the right to excavate the dinosaur skeleton, which was cleaned and transported to the company headquarters in Hill City. The institute’s president, Peter Larson, announced plans to build a non-profit museum to display Sue along with other fossils of the Cretaceous period.

Preparation and display

The Field Museum hired a specialized moving company, with experience in transporting delicate items, to move the bones to Chicago. The truck arrived at the museum in October 1997. Two new research laboratories funded by McDonalds were created and staffed by Field Museum preparators whose job was to slowly and carefully remove all the rock, or “matrix” from the bones. One preparation lab was at Field Museum itself, the other was at the newly opened Animal Kingdom in Disney World in Orlando. Millions of visitors observed the preparation of Sue’s bones through glass windows in both labs. Footage of the work was also put on the museum’s website. Several of the fossil’s bones had never been discovered, so preparators produced models of the missing bones from plastic to complete the exhibit. The modeled bones were colored in a reddish hue so that visitors could observe which bones were real and which bones were plastic. The preparators also poured molds of each bone. All the molds were sent to a company outside Toronto to be cast in hollow plastic. Field Museum kept one set of disarticulated casts in its research collection. The other sets were incorporated into mounted cast skeletons. One set of the casts was sent to Disney’s Animal Kingdom in Florida to be presented for public display. Two other mounted casts were placed into a traveling tour that was sponsored by the McDonald’s Corporation.

Once the preparators finished removing the matrix from each bone, it was sent to the museum’s photographer who made high-quality photographs. From there, the museum’s paleontologists began the study of the skeleton. In addition to photographing and studying each bone, the research staff also arranged for CT scanning of select bones. The skull was too large to fit into a medical CT scanner, so Boeing’s Rocketdyne laboratory in California agreed to let the museum use their CT scanner that was normally used to inspect space shuttle parts.

Bone damage

Close examination of the bones revealed that Sue was 28 years old when she died, making her the oldest T. rex known. During her life this carnivore received several injuries and suffered from numerous pathologies. An injury to the right shoulder region of Sue resulted in a damaged shoulder blade, a torn tendon in the right arm, and three broken ribs. This damage subsequently healed (though one rib healed into two separate pieces), indicating Sue survived the incident. The left fibula is twice the diameter of the right one, likely a result of infection. Original reports of this bone being broken were contradicted by the CT scans which showed no fracture. Multiple holes in the front of the skull were originally thought to be bite marks by some, but subsequent study found these to be areas of infection instead, possibly from an infestation of an ancestral form of Trichomonas gallinae, a protozoan parasite that infests birds. Damage to the back end of the skull was interpreted early on as a fatal bite wound. Subsequent study by Field Museum paleontologists found no bite marks. The distortion and breakage seen in some of the bones in the back of the skull was likely caused by post-mortem trampling. Some of the tail vertebra are fused in a pattern typical of arthritis due to injury. The animal is also believed to have suffered from gout. In addition, there is extra bone in some of the tail vertebrae likely caused by the stresses brought on by Sue’s great size. Sue did not die as a result of any of these injuries; her cause of death is not known.

Display

After the bones were prepared, photographed and studied, they were sent to New Jersey where work began on making the mount. This work consists of bending steel to support each bone safely and to display the entire skeleton articulated as it was in life. The real skull was not incorporated into the mount as subsequent study would be difficult with the head 13 feet off the ground. Parts of the skull had been crushed and broken, and thus appeared distorted. The museum made a cast of the skull, and altered this cast to remove the distortions, thus approximating what the original undistorted skull may have looked like. The cast skull was also lighter, allowing it to be displayed on the mount without the use of a steel upright under the head. The original skull is exhibited in a case that can be opened to allow researchers access for study. When the whole skeleton was assembled, it was forty feet (twelve meters) long from nose to tail, and twelve feet (four meters) tall at the hips.

Aug 11 2011

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”.

Robert Reich: Why the President Doesn’t Present a Bold Plan to Create Jobs and Jumpstart the Economy

Americans are deeply confused about why the economy is so bad – and their President isn’t telling them. In fact, the White House apparently has decided to join with Republicans and blame it on the long-term budget deficit.

Before I turn to the President, though, let’s be clear: The lousy economy is due to insufficient demand. Consumers – who are 70 percent of the economy – can’t and won’t buy because they’re running out of cash. They can’t borrow against homes that are worth a third less than they were five years ago, and most consumers are bad credit risks anyway because they’re losing their jobs and their wages are dropping.  They also have to start saving for the kids’ college or for retirement, which will cut their spending even more.

Robert Sheer: Another Bailout Joins the Goofball Economy

The whole thing is nuts. The economy is a shambles, saved from a free fall only by the Federal Reserve’s unprecedented promise of free money for banks for at least two years. That’s how long a seven-member majority of the Fed’s Open Market Committee expects it to take for significant relief to take hold for the 25 million Americans who can’t find full-time employment.

The 10-member committee’s three dissenters in Tuesday’s decision, all unelected Fed regional board presidents, are free-market ideologues who don’t believe the government has a role to play in reversing the nation’s economic disaster. One is a former Wall Street investment banker and vice chairman of Henry Kissinger’s consulting firm. The other two are University of Chicago school of economics disciples long committed to free-market purism and blind faith in the mathematical models that had much to do with radical deregulation and the subsequent collapse of the financial markets.

Dr. Brian Moench: United Snakes of America: Obama, the Republicans and the Media

I’ve been angry with slimy politicians before – Ronald Reagan, Bill Clinton, George W. Bush – for many different reasons, but with the common denominator of sacrificing the public interest for private interests. So, I was thrilled to vote for Obama. My wife and I donated more money to his campaign than we have given to any candidate running for any office. I believed he was more than just pocket “change we could believe in.” I still have an Obama bumper sticker on my car. This weekend, with gusto, I’m tearing it off.

Obama has fulfilled more of the Tea Party’s dreams than Sarah Palin, Grover Norquist or Rush Limbaugh could ever have done as president. He has done more damage to the Democratic Party than Karl Rove in his wettest of dreams. There are two possible explanations for Obama’s behavior, both are equally disturbing.

Thom Hartmann: Democracy Died First in Wisconsin – Long Live the Oligarchs

The Wisconsin recall election was the first major test of the new era in American politics

That new era began in January of 2010 when the US Supreme Court ruled in Citizens United v. FEC that the political voice of We The People was no longer as important as the voices of billionaires and transnational corporations.

Now we know the result, and it bodes ill for both 2012 and for the tattered future of small-d democracy in our republic.

A few of America’s most notorious oligarchs – including the Koch and the DeVos (Amway fortune) billionaires – as well as untraceable millions from donors who could as easily be Chinese government-run corporations as giant “American” companies who do most of their business and keep most of their profits outside the US – apparently played big in this election.

Robert Greenwald: WI: The Kochs, Colbert and $ in Politics

Much of the nation watched last night with breath held, waiting to see the recall results in Wisconsin. In the end, two WI Senate Republicans were replaced with Democrats, falling short of the three needed to take control of the Senate.

While this wasn’t the outcome many hoped for, it was still a bit of a victory. No longer are politics played on an even field, and the situation in Wisconsin makes this clearer than any other state. But despite the slanted scale, working people in Wisconsin were still able to change two seats out of six. It is movement in the right direction.

What I mean about there no longer being an even playing field in politics is the vast amount of control and power money now has in our democratic system. While Scott Walker has pushed so extremely to rob working people of their basic rights and protections, he’s been cushioned in support of endlessly flowing money backing his efforts.

Jim Hightower: The Downgrading of America

As Lily Tomlin noted, “No matter how cynical you get, it’s almost impossible to keep up.”

Many of us view the deficit ceiling brouhaha between the Obama White House and the laissez-fairy extremists in the Republican House as some combination of farce and fiasco. So much political playacting around a made-up deficit “crisis” in order to avoid dealing with the real deficit that’s crushing America’s middle class and draining the lifeblood from our economy: the jobs deficit.

But wait — before I could work out my anger over that fiasco, here came an even more incredible farce. Last Friday, a Wall Street credit rating firm, Standard & Poor’s, thrust itself onto the national stage by arrogantly, recklessly and wrongly downgrading the sovereign credit status of the United States of America from AAA to AA+.

Aug 11 2011

On This Day In History August 11

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.

August 11 is the 223rd day of the year (224th in leap years) in the Gregorian calendar. There are 142 days remaining until the end of the year.

On this day in 1934, the first Federal prisoners arrived at Alcatraz.

A group of federal prisoners classified as “most dangerous” arrives at Alcatraz Island, a 22-acre rocky outcrop situated 1.5 miles offshore in San Francisco Bay. The convicts–the first civilian prisoners to be housed in the new high-security penitentiary–joined a few dozen military prisoners left over from the island’s days as a U.S. military prison.

Alcatraz was an uninhabited seabird haven when it was explored by Spanish Lieutenant Juan Manuel de Ayala in 1775. He named it Isla de los Alcatraces, or “Island of the Pelicans.” Fortified by the Spanish, Alcatraz was sold to the United States in 1849. In 1854, it had the distinction of housing the first lighthouse on the coast of California. Beginning in 1859, a U.S. Army detachment was garrisoned there, and from 1868 Alcatraz was used to house military criminals. In addition to recalcitrant U.S. soldiers, prisoners included rebellious Indian scouts, American soldiers fighting in the Philippines who had deserted to the Filipino cause, and Chinese civilians who resisted the U.S. Army during the Boxer Rebellion. In 1907, Alcatraz was designated the Pacific Branch of the United States Military Prison.

In 1934, Alcatraz was fortified into a high-security federal penitentiary designed to hold the most dangerous prisoners in the U.S. penal system, especially those with a penchant for escape attempts. The first shipment of civilian prisoners arrived on August 11, 1934. Later that month, more shiploads arrived, featuring, among other convicts, infamous mobster Al Capone. In September, George “Machine Gun” Kelly, another luminary of organized crime, landed on Alcatraz.

By decision of Attorney General Robert F. Kennedy, the penitentiary was closed on March 21, 1963. It was closed because it was far more expensive to operate than other prisons (nearly $10 per prisoner per day, as opposed to $3 per prisoner per day at Atlanta), half a century of salt water saturation  had severely eroded the buildings, and the bay was being badly polluted by the sewage from the approximately 250 inmates and 60 Bureau of Prisons families on the island. The United States Penitentiary in Marion, Illinois, a traditional land-bound prison, opened that same year to serve as a replacement for Alcatraz.

The entire Alcatraz Island was listed on the National Register of Historic Places in 1976, and was further declared a National Historic Landmark in 1986. In 1993, the National Park Service published a plan entitled Alcatraz Development Concept and Environmental Assessment.  This plan, approved in 1980, doubled the amount of Alcatraz accessible to the public to enable visitors to enjoy its scenery and bird, marine, and animal life, such as the California slender salamander.

Today American Indian groups such as the International Indian Treaty Council hold ceremonies on the island, most notably, their “Sunrise Gatherings” every Columbus and Thanksgiving Day.

Aug 10 2011

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 Heuval: We need a jobs bill, Mr. President

The White House, once again, is pivoting to jobs. And once again, it is doing so in a way that’s unlikely to create any. Several weeks ago President Obama embarked on a manufacturing tour, highlighting its role in job creation. Few paid attention. Nothing changed.

Next week, the president will try again. In the wake of a debt-ceiling deal that is certain to harm an already fragile economy, the president is embarking on a bus tour through the Midwest to talk about jobs. It’s not clear what the administration expects will come from such a tour, save for a few local news stories in a few midsized media markets. For an economy desperate for bold action, for a people desperate for some genuine relief, this surely won’t cut it.

Obama used to say on the campaign trail that we can’t keep doing the same thing over and over again and expect a different outcome. He was right. Isn’t it high time he take his own words to heart?

Barbara Ehrenreich: Nickel and Dimed (2011 Version): On Turning Poverty into an American Crime

When you read about the hardships I found people enduring while I was researching my book — the skipped meals, the lack of medical care, the occasional need to sleep in cars or vans — you should bear in mind that those occurred in the best of times. The economy was growing, and jobs, if poorly paid, were at least plentiful.

In 2000, I had been able to walk into a number of jobs pretty much off the street. Less than a decade later, many of these jobs had disappeared and there was stiff competition for those that remained. It would have been impossible to repeat my Nickel and Dimed “experiment,” had I had been so inclined, because I would probably never have found a job.

For the last couple of years, I have attempted to find out what was happening to the working poor in a declining economy — this time using conventional reporting techniques like interviewing. I started with my own extended family, which includes plenty of people without jobs or health insurance, and moved on to trying to track down a couple of the people I had met while working on Nickel and Dimed.

Maureen Dowd: Withholder in Chief

Even the Butter Cow at the Iowa State Fair is not enough to sweeten the mood.

Three years ago, Barack Obama’s unlikely presidential dream was given wings by rapturous Iowans – young, old and in-between – who saw in the fresh-faced, silky-voiced black senator a chance to leap past the bellicose, rancorous Bush years into a modern, competitive future where we once more had luster in the world.

“We are choosing hope over fear,” Senator Obama told a delirious crowd of 3,000 here the night he won the Iowa caucuses.

But fear has garroted hope, as America reels from the latest humiliating blows on the economy and in Afghanistan. The politician who came across as a redeemer in 2008 is now in need of redemption himself.

Amy Goodman: From Kilotons to Millisieverts: Japan’s Nuclear Legacy

In recent weeks, radiation levels have spiked at the Fukushima nuclear power reactors in Japan, with recorded levels of 10,000 millisieverts per hour (mSv/hr) at one spot. This is the number reported by the reactor’s discredited owner, Tokyo Electric Power Co., although that number is simply as high as the Geiger counters go. In other words, the radiation levels are literally off the charts. Exposure to 10,000 millisieverts for even a brief time would be fatal, with death occurring within weeks. (For comparison, the total radiation from a dental X-ray is 0.005 mSv, and from a brain CT scan is less than 5 mSv.) The New York Times has reported that government officials in Japan suppressed official projections of where the nuclear fallout would most likely move with wind and weather after the disaster in order to avoid costly relocation of potentially hundreds of thousands of residents.

Marie Magaronis: Anarchy in the UK

Perhaps the whole point of a riot is to defy explanation: it’s an eruption of the irrational, a shattering of glass and boundaries, a testosterone-fueled roar that briefly flips anger and emptiness into something like ecstasy. What’s in the minds of the young men (and women, too) in London, Birmingham, Bristol and Liverpool who’ve sent great sheets of flame rising into the August night, devouring local businesses that it took years to build; who’ve turned plate glass to spiderwebs with one crack of a brick; who’ve gone home with their backpacks stuffed with cell phones, Nike trainers, X-boxes and Wiis? Well, wouldn’t we like to know, we middle-class types with access to a blog and an analysis, a “network” and a future?

Shayda Naficy: Watching Out for Our Water

Water is at risk in the United States and around the world. Its quality and availability is in peril. Today, nearly one in eight people lack access to adequate supplies of safe drinking water. Globally, water-borne diseases kill more people than tuberculosis or malaria, and five times as many children die of diarrhea than of HIV/AIDS.

The causes are varied. Industrial pollution. Agricultural run-off. Climate change. Land overuse. Many well known corporations are contributing to these problems, including Coca-Cola, Dow Chemical, Nestlé and Shell Oil. Unilever and Veolia, companies better known abroad, are responsible too.

Fatima Al-zeheri: The Ongoing Costs of the Iraq War

When you destroy someone’s property, you usually have to pay compensation. The United States is responsible for much of the destruction that has taken place in Iraq since the 2003 invasion. But instead of offering compensation to the Iraqis, Congressman Dana Rohrabacher (R-CA) has demanded that the Iraqi government pay the United States compensation in dollars for the cost of U.S.-led war. The Iraqi response was to kick Rohrabacher out of Baghdad.

While the United States focuses on its budget problems and the costs of the war, it is important to remember the price that Iraq and Iraqis have paid. It’s not just the hundreds of thousands who have died during and after the war. There are millions of refugees. The country’s infrastructure has been ruined. Corruption is flourishing.

And for all this destruction, Iraqis have received very little in the way of compensation.

Aug 10 2011

On This Day In History August 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.

Click on images to enlarge

August 10 is the 222nd day of the year (223rd in leap years) in the Gregorian calendar. There are 143 days remaining until the end of the year.

The term ‘the 10th of August’ is widely used by historians as a shorthand for the Storming of the Tuileries Palace on the 10th of August, 1792, the effective end of the French monarchy until it is restored in 1814.

On this day in  1846, Smithsonian Institution was created. After a decade of debate about how best to spend a bequest left to America from an obscure English scientist, President James K. Polk signs the Smithsonian Institution Act into law.

In 1829, James Smithson died in Italy, leaving behind a will with a peculiar footnote. In the event that his only nephew died without any heirs, Smithson decreed that the whole of his estate would go to “the United States of America, to found at Washington, under the name of the Smithsonian Institution, an Establishment for the increase and diffusion of knowledge.” Smithson’s curious bequest to a country that he had never visited aroused significant attention on both sides of the Atlantic.

After the nephew died without heirs in 1835, President Andrew Jackson informed Congress of the bequest, which amounted to 104,960 gold sovereigns, or US$500,000 ($10,100,997 in 2008 U.S. dollars after inflation). The money, however, was invested in shaky state bonds that quickly defaulted. After heated debate in Congress, former President John Quincy Adams successfully argued to restore the lost funds with interest.  Congress also debated whether the federal government had the authority to accept the gift. Congress ultimately accepted the legacy bequeathed to the nation and pledged the faith of the United States to the charitable trust July 1, 1836.

Eight years later, Congress passed an act establishing the Smithsonian Institution, a hybrid public/private partnership, and the act was signed into law on August 10, 1846 by James Polk. (See 20 U.S.C. § 41 (Ch. 178, Sec. 1, 9 Stat. 102).) The bill was drafted by Indiana Democratic Congressman Robert Dale Owen, a Socialist and son of Robert Owen, the father of the cooperative movement.

Aug 09 2011

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”.

Yves Smith: Why are the big banks getting off scot-free?

For most citizens, one of the mysteries of life after the crisis is why such a massive act of looting has gone unpunished. We’ve had hearings, investigations, and numerous journalistic and academic post mortems. We’ve also had promises to put people in jail by prosecutors like Iowa’s attorney general Tom Miller walked back virtually as soon as they were made.

Yet there is undeniable evidence of institutionalized fraud, such as widespread document fabrication in foreclosures (mentioned in the motion filed by New York state attorney general Eric Schneiderman opposing the $8.5 billion Bank of America settlement with investors) and the embedding of impermissible charges (known as junk fees and pyramiding fees) in servicing software, so that someone who misses a mortgage payment or two is almost certain to see it escalate into a foreclosure. And these come on top of a long list of runup-to-the-crisis abuses, including mortgage bonds having more dodgy loans in them than they were supposed to, banks selling synthetic or largely synthetic collateralized debt obligations as being just the same as ones made of real bonds when the synthetics were created for the purpose of making bets against the subprime market and selling BBB risk at largely AAA prices, and of course, phony accounting at the banks themselves.

Paul Krugmn: Credibility, Chutzpah and Debt

To understand the furor over the decision by Standard & Poor’s, the rating agency, to downgrade U.S. government debt, you have to hold in your mind two seemingly (but not actually) contradictory ideas. The first is that America is indeed no longer the stable, reliable country it once was. The second is that S.& P. itself has even lower credibility; it’s the last place anyone should turn for judgments about our nation’s prospects.

Let’s start with S.& P.’s lack of credibility. If there’s a single word that best describes the rating agency’s decision to downgrade America, it’s chutzpah – traditionally defined by the example of the young man who kills his parents, then pleads for mercy because he’s an orphan.

Joseph Stiglitz: More Stimulus for US, Less Austerity

THE Great Recession of 2008 has morphed into the North Atlantic Recession: it is mainly Europe and the US, not the major emerging markets, that have become mired in slow growth and high unemployment. And it is Europe and America that are marching, alone and together, to the denouement of a grand debacle. A busted bubble led to a massive Keynesian stimulus that averted a much deeper recession, but that also fuelled substantial budget deficits. The response – massive spending cuts – ensures that unacceptably high levels of unemployment will continue, possibly for years.

The European Union has finally committed itself to helping its financially distressed members. It had no choice: with financial turmoil threatening to spread from small countries like Greece and Ireland to large ones like Italy and Spain, the euro’s very survival was in growing jeopardy. Europe’s leaders recognised that distressed countries’ debts would become unmanageable unless their economies could grow, and that growth could not be achieved without help.

Dean Baker: The Economic Illiterates Step Up the Attack on Social Security and Medicare

Standard & Poor’s (S&P) downgrade of US debt should be seen as the joke it is. The rating agency, which gave investment grade ratings to hundreds of billions of dollars of subprime mortgage-backed securities, made an accounting error of $2 trillion in doing its assessment of the US financial situation.

However, when this error was called to S&P’s attention, it still went ahead with the downgrade. Just like the war in Iraq, the policy was decided in advance of the evidence.

The nonsense with the S&P downgrade is yet another distraction – after four months of haggling over the debt ceiling idiocy – from the real problem facing the country: a downturn that has left 25 million people unemployed, underemployed or out of the labor force altogether. Tens of millions of people are seeing their career hopes and family lives wrecked by the prospect of long-term unemployment.

Ted Rall: What I Would Do If I Were Obama

Jobs, jobs, jobs. Throughout the presidency of Barack Obama, Americans have been preoccupied with jobs. Unemployed people need work. The underemployed need more work. The employed want salaries that go up instead of down.

The rich are worried too. The Depression of 2008-? is killing their stock portfolios.

Most presidents struggle to find the pulse of the people. Trapped in the D.C. bubble, they try to find out what voters want. Obama was lucky. He didn’t have to do that. The U.S. was in the midst of an epic economic collapse in January 2009, and has been ever since. It’s the only issue that everyone, rich to middle to poor, cared about. It still is.

In this single-issue environment, any idiot could have been a successful president. All Obama had to do was express sympathy and understanding while announcing a bunch of jobs initiatives.

Not hard.

Eugene Robinson: A Downgrade’s GOP Fingerprints

The so-called analysts at Standard & Poor’s may not be the most reliable bunch, but there was one very good reason for them to downgrade U.S. debt: Republicans in Congress made a credible threat to force a default on our obligations.

This isn’t the rationale that S&P gave, but it’s the only one that makes sense. Like a lucky college student who partied the night before an exam, the ratings agency used flawed logic and faulty arithmetic to somehow come up with the right answer. No, life isn’t always fair.

And no, I can’t join the “we’re all at fault” chorus. Absent the threat of willful default, a downgrade would be unjustified and absurd. And history will note that it was House Republicans who issued that threat.

William Rivers Pit: The Wisconsin Solution

It was, simply, one of the worst weeks in recent memory.

They passed the debt-limit “deal” in Congress and sent it  out for signature by Mr. Obama, and the pen he used might as well have been a tiny little white flag of surrender. The financial markets here and abroad reacted to the unqualified mayhem of the debt-limit fight by going south like a duck in winter, and newspapers all across the country carried dire stories of a looming double-dip recession.

Adding insult to injury, Standard & Poors decided to screw us with our pants on by announcing a downgrade of America’s credit rating. The fact that they blamed their decision on the GOP did little to soften the blow, especially since most of the “mainstream” media chose to ignore this particular aspect of what Senator John Kerry (D-MA) came to call the “Tea Party Downgrade.”

E. J. Dionne, Jr.: Can America Still Lead?

LONDON-The first week of August 2011 will be remembered as a singularly irrational, wasteful and shameful moment in the political and economic history of the United States. It reflected much of what is wrong with the priorities of our political elites and the obsessions of those who now hold effective veto power over our government.

It began with the world hanging on to every development in the debt-ceiling negotiations as it fretted over whether Washington’s dysfunction would lead to American default and global calamity. Even robustly pro-American commentators and politicians wondered aloud if the United States could still govern itself.

Aug 09 2011

On This Day In History August 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.

Click on images to enlarge

August 9 is the 221st day of the year (222nd in leap years) in the Gregorian calendar. There are 144 days remaining until the end of the year.

On this day in 1974, one day after the resignation of President Richard M. Nixon, Gerald R. Ford is sworn in as president, making him the first man to assume the presidency upon his predecessor’s resignation. He was also the first non-elected vice president and non-elected president, which made his ascendance to the presidency all the more unique.

Gerald Rudolph Ford, Jr. (born Leslie Lynch King, Jr.; July 14, 1913 – December 26, 2006) was the 38th President of the United States, serving from 1974 to 1977, and the 40th Vice President of the United States serving from 1973 to 1974. As the first person appointed to the vice-presidency under the terms of the 25th Amendment, when he became President upon Richard Nixon’s  resignation on August 9, 1974, he also became the only President of the United States who was elected neither President nor Vice-President.

Before ascending to the vice-presidency, Ford served nearly 25 years as Representative from Michigan’s 5th congressional district, eight of them as the Republican Minority Leader.

As President, Ford signed the Helsinki Accords, marking a move toward detente in the Cold War. With the conquest of South Vietnam by North Vietnam nine months into his presidency, US involvement in Vietnam essentially ended. Domestically, Ford presided over what was then the worst economy since the Great Depression, with growing inflation and a recession during his tenure. One of his more controversial acts was to grant a presidential pardon to President Richard Nixon for his role in the Watergate scandal. During Ford’s incumbency, foreign policy was characterized in procedural terms by the increased role Congress began to play, and by the corresponding curb on the powers of the President. In 1976, Ford narrowly defeated Ronald Reagan for the Republican nomination, but ultimately lost the presidential election to Democrat Jimmy Carter.

Following his years as president, Ford remained active in the Republican Party. After experiencing health problems and being admitted to the hospital four times in 2006, Ford died in his home on December 26, 2006. He lived longer than any other U.S. president, dying at the age of 93 years and 165 days.

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