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Month

September 2010

79 posts

Economics and Politics - Paul Krugman Blog - NYTimes.com → krugman.blogs.nytimes.com

In Britain, Adam Posen, on the Monetary Policy Committee, urges more action:

We will only know we will have done enough with QE [quantitative easing] or other monetary stimulus when we have clear indications that our policies are moving the desired variables — market interest rates, wages, output, employment, and inflation expectations — sufficiently and in the right directions on a sustained basis. I do not think that is not enough for a central bank to say, ‘Look, we expanded our balance sheet more than any time in history,’ or ‘we did things we never did before,’ and argue that therefore we must have done a lot, if not too much (not that the Bank of England has done so). In my opinion, that is backwards logic. It would be like saying ‘that fire must be out, because we’ve already pumped more water than for any previous fire we’ve fought,’ or ‘we must have gotten to our destination, because I’ve been driving for hours and we’ve already used a full tank of gas.

But what does he know? He’s just the leading English-speaking expert on Japan’s lost decade.

Sep 30, 2010
Tea & Crackers → rollingstone.com

Scanning the thousands of hopped-up faces in the crowd, I am immediately struck by two things. One is that there isn’t a single black person here. The other is the truly awesome quantity of medical hardware: Seemingly every third person in the place is sucking oxygen from a tank or propping their giant atrophied glutes on motorized wheelchair-scooters. As Palin launches into her Ronald Reagan impression — “Government’s not the solution! Government’s the problem!” — the person sitting next to me leans over and explains.

“The scooters are because of Medicare,” he whispers helpfully. “They have these commercials down here: ‘You won’t even have to pay for your scooter! Medicare will pay!’ Practically everyone in Kentucky has one.”

A hall full of elderly white people in Medicare-paid scooters, railing against government spending and imagining themselves revolutionaries as they cheer on the vice-presidential puppet hand-picked by the GOP establishment. If there exists a better snapshot of everything the Tea Party represents, I can’t imagine it.

After Palin wraps up, I race to the parking lot in search of departing Medicare-motor-scooter conservatives. I come upon an elderly couple, Janice and David Wheelock, who are fairly itching to share their views.

“I’m anti-spending and anti-government,” crows David, as scooter-bound Janice looks on. “The welfare state is out of control.”

“OK,” I say. “And what do you do for a living?”

“Me?” he says proudly. “Oh, I’m a property appraiser. Have been my whole life.”

I frown. “Are either of you on Medicare?”

Silence: Then Janice, a nice enough woman, it seems, slowly raises her hand, offering a faint smile, as if to say, You got me!

“Let me get this straight,” I say to David. “You’ve been picking up a check from the government for decades, as a tax assessor, and your wife is on Medicare. How can you complain about the welfare state?”

“Well,” he says, “there’s a lot of people on welfare who don’t deserve it. Too many people are living off the government.”

“But,” I protest, “you live off the government. And have been your whole life!”

“Yeah,” he says, “but I don’t make very much.” Vast forests have already been sacrificed to the public debate about the Tea Party: what it is, what it means, where it’s going. But after lengthy study of the phenomenon, I’ve concluded that the whole miserable narrative boils down to one stark fact: They’re full of shit. All of them. At the voter level, the Tea Party is a movement that purports to be furious about government spending — only the reality is that the vast majority of its members are former Bush supporters who yawned through two terms of record deficits and spent the past two electoral cycles frothing not about spending but about John Kerry’s medals and Barack Obama’s Sixties associations. The average Tea Partier is sincerely against government spending — with the exception of the money spent on them. In fact, their lack of embarrassment when it comes to collecting government largesse is key to understanding what this movement is all about — and nowhere do we see that dynamic as clearly as here in Kentucky, where Rand Paul is barreling toward the Senate with the aid of conservative icons like Palin.

Early in his campaign, Dr. Paul, the son of the uncompromising libertarian hero Ron Paul, denounced Medicare as “socialized medicine.” But this spring, when confronted with the idea of reducing Medicare payments to doctors like himself — half of his patients are on Medicare — he balked. This candidate, a man ostensibly so against government power in all its forms that he wants to gut the Americans With Disabilities Act and abolish the departments of Education and Energy, was unwilling to reduce his own government compensation, for a very logical reason. “Physicians,” he said, “should be allowed to make a comfortable living.”

Those of us who might have expected Paul’s purist followers to abandon him in droves have been disappointed; Paul is now the clear favorite to win in November. Ha, ha, you thought we actually gave a shit about spending, joke’s on you. That’s because the Tea Party doesn’t really care about issues — it’s about something deep down and psychological, something that can’t be answered by political compromise or fundamental changes in policy. At root, the Tea Party is nothing more than a them-versus-us thing. They know who they are, and they know who we are (“radical leftists” is the term they prefer), and they’re coming for us on Election Day, no matter what we do — and, it would seem, no matter what their own leaders like Rand Paul do.

Sep 30, 201059 notes
Anti-austerity protests engulf Europe - The Globe and Mail → theglobeandmail.com

standardgrey:

towerofsleep:

Anti-austerity protests erupted across Europe on Wednesday — Greek doctors and railway employees walked out, Spanish workers shut down trains and buses, and one man even blocked the Irish parliament with a cement truck to decry the country’s enormous bank bailouts.

Whoa. Looks like a spectre is haunting Europe again.

This is how it should be done.

Sep 30, 201020 notes
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Sep 30, 201031 notes

towerofsleep:

John Schmitt, “Actually Existing Capitalism”

Michael Norton (of Harvard Business School) and Dan Ariely (of Duke) have released results (pdf) from a series of experiments they did in 2005 on the subject of wealth inequality. They asked individuals in a nationally representative online panel to (1) estimate the current US distribution of wealth and (2) “build a better America” by describing what they thought would be the “ideal” wealth distribution.

The key findings: First, respondents dramatically underestimated the current level of wealth inequality. Second, respondents constructed ideal wealth distributions that were far more equitable than even their erroneously low estimates of the actual distribution. Most important from a policy perspective, we observed a surprising level of consensus: All demographic groups — even those not usually associated with wealth redistribution such as Republicans and the wealthy — desired a more equal distribution of wealth than the status quo.

Sep 30, 20105 notes
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Sep 28, 2010
Sep 28, 20101 note
#behind the scenes workbook patterns recursion numbers portland patronage outboard intellect
Sep 27, 201026,581 notes
Sep 27, 20106 notes
Privilege 101 → robot-heart-politics.tumblr.com

azspot:

robot-heart-politics:

bryanboova:

Coming back to this, I’m just wondering if this includes the hundreds of thousands of men serving our country overseas, living with the everyday reality that around any corner they could get shot in the face, not because they are “privileged white men,” but because they are Americans.

Also not forgetting to include the freedom of speech that they are also defending everyday. The freedom of speech that affords you the ability to sit behind your computer and write as many pounding and screaming blog posts as you see fit.

Please, spare me this trite, patronizing bullshit about the military. My brother is currently serving in the military, as my father did and as his father did. Do not presume you have anything to tell me on the subject of the military.

I must add, though, I hate when people use the military as some sort of trump card in a debate. Your argument here is that because some men served in the military in a way that is valiant and noble, this must mean that I am unable to be critical of our society in general because some men in it are good. This is illogical because 1) it treats men in the military as if they are above flaws or reproach (as if the military is completely free of sexism or bad people), and 2) it attempts to give all of society the credit for the virtues of a few individuals.

What really bothers me about this argument, though, is that it’s a lazy argument trotted out by people with all sorts of opinions as a shield or device to stop conversation. It appeals to the nationalist social belief that those who serve in the military are above criticism, and that those who do criticize people in the military are ungrateful Amurrika-hating nut jobs (i.e. people not worth listening to), so regardless of how the debate continues, it’s a win-win for the one who employs this device: either you stop conversation because the other person is not going to respond because they don’t want to criticize the military, or they do continue their argument and you win because they look like people unworthy of respect. It’s convenient and over-used, and perhaps more important, it’s hypocritical in that it exploits other people’s service so that you get to win an argument on the internet. How clever…and not even remotely noble.

Seriously: yes, men in the service are as affected by male privilege as any other male in our society is. In the same way I have white privilege because I’m white. Having privilege doesn’t make you a bad or terrible person. In almost every circumstance, it is something a person has no control over at all. Privilege is an unfair advantage you have over others in society because of some trait you were born with: gender, skin color, class, sexuality, etc. Admitting you have unfair advantage doesn’t mean you are admitting you are a bad person. It just means admitting you were born in an unequal society and have benefited from said inequality. I’m white. I’ve benefited as much from my white privilege, if not moreso, as you have from your male privilege. Admitting I have privilege doesn’t make me an evil racist. It just makes me aware of how our society is.

Sep 27, 2010342 notes
Sep 27, 201051 notes
encouraging words

marxistsinspace:

Some day you will die.

Lying on your sick bed about to breathe your last, you will be assailed by every kind of pain,

Your mind will be filled with fears and anxieties and you will not know where to go or what to do,

Only then you will realize you have not practiced well.

The skandhas/aggregates (matter, sensations, conceptions, impulses and consciousness) and the four elements in you will quickly disintegrate, and your consciousness will be pulled wherever your ancient, twisted karma leads it.

Impermanence does not hesitate.

Death will not wait.

You will not be able to extend your life by even a second.

How many thousands times more will you have to pass through the gates of birth and death.

If these words are challenging, even insulting, let them be an encouragement for you to change.

Practice heroically.

Do not accumulate unnecessary possessions.

Don’t give up.

Still your mind, end wrong perceptions, concentrate and do not run after the objects of your senses.

Practice diligently.

Be determined not to let your days and months pass by wastefully.

Zen Master Guishan, “Encouraging Words”

Sep 27, 201010 notes
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