Nothing more punk than this.
Friday, September 30, 2011
Cheap
Yes, most people I see cycling in the urban hellhole are (apparent) Mexican and Vietnamese immigrants. Cycling as sport might be more of a white yuppie hipster (or whatever we're calling them these days) thing, but cycling as transportation certainly isn't everywhere...
EATED
International edition.
MADRID—Spain announced Friday it has nationalized three troubled banks that failed to meet new capital requirements and said the process of restructuring its financial sector is now complete.
Get A New Bank
The Galtian Overlords who run our banking system are determined to convince you that the best place for you to put your money is in your mattress.
Assholes
Haven't been too heavy on fundraising in a few years, but consider giving a few dimes to Elizabeth Warren.
And Speaking Of Really Stupid People
For awhile I thought we had a lot of "use crisis to implement the policies we wanted all along" evil, but now I'm increasingly of the believe they actually believe this nonsense.
Elite Fail
We have put crazy stupid people who cannot read the data they're supposed to understand in charge of things.
Reality:
As for Plosser, it's warning the Federal Reserve against straying from what he sees as the central bank's main mission: fighting inflation. To him, keeping prices stable makes it possible for the Fed to fulfill its other mandates: promoting maximum employment and moderate interest rates.
Reality:
Market expectations for US inflation have dropped to their lowest level in a year and are now below the Federal Reserve’s unofficial target, as investors respond to the central bank’s latest attempt to stimulate the economy.
The expected rate of inflation over the next 30 years, as measured by the difference between Treasury Inflation Protected Securities, Tips, and cash government bonds, dropped as low as 1.85 per cent in recent days from 2.73 per cent since last month. The rate was just under 2 per cent on Tuesday.
Fly, Helicopters, Fly!
Yes, we should be giving free money to people any way we can. This is obviously true, and should be done starting 2 years ago.
Good Morning
I see BoBo Brooks has written a stirring defense of his sociopathy in today's New York Times.
And on and on.
And on and on.
Glenn Giggles
Here is something that makes Glenn Reynolds laugh. I'm not sure but I think the punchline is that liberals are the real sexists.
Thursday, September 29, 2011
It's Also Pretty
And not too far from where lots of people live. I imagine chopping off the tops of mountains will eventually be seen as a wee mistake.
Bankster World
Lovely.
WASHINGTON — Jose Palomo was surprised when the knock on the door came in August, informing him that his California home had been foreclosed and he'd need to vacate promptly. After all, he'd recently started payments on an in-house mortgage modification with CitiMortage Inc.
"I was speechless, didn't know what to say. What's going on? Why? They got our hopes high saying we got approved, everything was going to go through," recalled Palomo, 23, a car salesman fighting to keep his tiny home in Riverside.
The Tyranny Of Kenyan Muslim Socialism
I suppose we could submit this one to the stupid-or-lying panel of judges. Obama is going to raise everybody's taxes, because...that's what Kenyan Muslim Socialists do!!!
I Wish I Could Talk About The Latest Stupid Thing Sarah Palin Said
I also wish I had some inkling - right or wrong - about how to do something other than bitch about the fact that the economy sucks. But the economy sucking trumps everything else and the luxury of pissing and moaning about stuff that doesn't matter much just doesn't seem to be there.
Except on Morning Joe, I guess.
Except on Morning Joe, I guess.
Somebody Told Ben
I suppose that's something.
In our accountability-free era everyone is responsible so no one is, but the Bernanke era has been nothing but FAIL.
Federal Reserve Chairman Ben S. Bernanke said the U.S. is facing a crisis with a jobless rate at or above 9 percent since April 2009, and that fiscal discipline would help spur the economic recovery.
“This unemployment situation we have, the jobs situation, is really a national crisis,” Bernanke said in response to questions after a speech yesterday in Cleveland. “We’ve had close to 10 percent unemployment now for a number of years and, of the people who are unemployed, about 45 percent have been unemployed for six months or more. This is unheard of.”
In our accountability-free era everyone is responsible so no one is, but the Bernanke era has been nothing but FAIL.
Thursday Is New Jobless Day
391K new lucky duckies.
Not good news, but a bit better than we have been seeing.
Not good news, but a bit better than we have been seeing.
Maybe If Goldman Says It
Nobody listens to Atrios, but maybe someone will listen to our Galtian Overlords.
Investors and consumers across the world are worried that the global economy is heading back into recession, but analysts at Goldman Sachs are warning the risk of a "great stagnation" is bigger than you might think.
Wednesday, September 28, 2011
First Compare The Things You Know
I imagine commuters, when switching from driving to mass transit, first focus on the things that are easily comparable. Was it faster? Could I choose to make a trip whenever I wanted? How much did it cost (and perceived marginal costs of automobile usage are lower than the actual)? After a bit of use, you start learning what other benefits mass transit might have which could make it preferable.
Insane Clown Posse
As annoyingly stupid as much of our political journalism is these days, it's worth remembering that back during the Clenis Era it was...well.. fucking insane. It peaked during Monica Madness, but it should be remembered that it was insane even before that.
A thousand little Woodwards and Bernsteins, desperate to even the score after Nixon and return the universe to harmonious balance. This passage from Brock's Blinded by the Right captures it pretty well:
A thousand little Woodwards and Bernsteins, desperate to even the score after Nixon and return the universe to harmonious balance. This passage from Brock's Blinded by the Right captures it pretty well:
My phone rang off the hook with interview requests, as reporters and TV producers, many of whom were now drawn into the morass of scandal just as I opted out, expected me to jump at the chance to proclaim that my disputed trooper story had been vindicated by Lewinsky revelations. Clinton was a lying sex fiend after all! I remember one particular call along these lines from Lisa Myers of NBC News, who had dogged the Clintons for years from her beat on Capitol Hill, and later aired the Juanita Broaddrick rape allegation. I was doing no interviews, I told Myers. But wasn't I feeling vindicated? she wanted to know. Not exactly, I said. In the five years since Troopergate, I began to explain, no evidence had emerged to connect Clinton's personal life with his performance as president. Well, the husky-voiced Myers pressed on obtrusively, as if she hadn't heard a word I said, Clinton had been lying about so much for so long, wasn't it great that he finally got caught? I clicked off.
Conversations like these left me frustrated, for what exactly had Clinton been lying about for so long, other than adultery?...
Anne Tyler
I haven't read anything new by her in several years, but at some point I'd gone through most of what she'd written.
Her latest, which I have not read:
And, yes, should share more.
Her latest, which I have not read:
And, yes, should share more.
Bottlenecks
No encyclopedic knowledge of them all, but there are a lot of relatively cheap ways to improve rail service around the country.
Especially where commuter trains share service with freight or Amtrak, simply adding extra or even just occasional passing tracks can make a tremendous difference.
Federal rail officials approved a $13.3 million grant Monday to help eliminate a major bottleneck along Amtrak's key Northeast Corridor line between Wilmington and Newark.
The grant clears the way to start early work this year on a third passenger track along a portion of the rail line between the two cities -- part of a multi-part, $52 million investment that will improve Amtrak, SEPTA and freight rail movements through the state.
Especially where commuter trains share service with freight or Amtrak, simply adding extra or even just occasional passing tracks can make a tremendous difference.
The People In Charge Don't Know What They Are Doing
Ok, well, some of the inaction is due to understandable negotiation about who ultimately foots the bill, but some of it is due to the fact that the people who run the world are incompetent.
Villagers Love GOP Daddies
I see that for the 3rd or 4th time it's the season to obsess about Chris Christie. Having spent a few months obsessing about candidates with no chance of winning the nomination they'll spend some more time obsessing about people who (most likely) aren't even going to run.
They do love talking about Republicans.
They do love talking about Republicans.
FIGHTING TERRORISTS
At this point spending money on pointless wasteful projects is better than not spending any money, but...
Reality Bites
I don't think I really learned anything from this piece on Plouffe. I'll just say that with the economy as bad as it is, the posturing and positioning doesn't really matter much. Absent fixing the economy, drawing distinctions is important, as is actually explaining to voters what your agenda is, but the real mistake this administration made was perpetually thinking that the light at the end of the tunnel was just around the corner. There was never anything in the data that should have caused people to come to that conclusion with any confidence.
The Machines
Regarding this basic discussion, the point I was making was that I suspect that there's a tendency by management to be a bit credulous in thinking that promised labor cost savings will actually materialize. I have nothing against stores having self-checkout scanners, I've just (perhaps wrongly) doubted that they've really had any financial benefit for the stores.
Tuesday, September 27, 2011
They Created Him
Perot was a complete Village media creation, the basic "common sense billionaire" candidate they always dream of. Coverage wasn't always good, but it certainly started that way...
"Carrying Our Country On Their Back"
Uh dude...the book was called ATLAS SHRUGGED. GO GALT ALREADY!!!
Walk
I'd be interested in more specifics of how exactly (aside from obvious things like good maintenance) sidewalks and intersections can be made more user friendly for older people, but it sounds like a good project. Don't think we do enough in anticipation of the aging boomer population...
Recovery Winter
There's much to be depressed about in this January piece from Beutler that was just brought to my attention, but I think most of all is that, once again, everyone thought the economy had been saved.
Oy.
Oy.
Columnist Fight!
Not really, but it's good that Krugman is allowed to actually address BoBo's zombie lies.
It's All A Lie
It isn't just the SuperWankers, it's any attempt to dictate what revenue/spending/deficits are going to be years from now. I'm not saying there's no path dependence, that decisions made today will have no impact on what happens in the future, but they don't really have any predictable impact.
The entire exercise is a waste of time, as our politicians pretend to try to solve imaginary problems instead of dealing with real ones.
The entire exercise is a waste of time, as our politicians pretend to try to solve imaginary problems instead of dealing with real ones.
No More Through Streets
My pet theory is that regional traffic problems became worse - and increasingly unsolvable - once subdivisions were mostly built (in some areas) with single access roads. In these places there are no longer many "back ways" to places, no way for traffic overflow to travel other than on main roads and highways. One can understand why residents would prefer to minimize through traffic in their neighborhoods, but once every neighborhood was built like that...
Obama Mittens
Exhumed for strictly ghoulish purposes. The very serious Marc Ambinder in February 2009.
Like Hillary Clinton, Romney might be willing to trade his political ambition for the chance to do something awesome for the country.
Monday, September 26, 2011
Discussion Question
What should penalties for DUI be? I mean for just over the limit offenses, not driving while not knowing where the hell you are offenses.. Feel free to differentiate between 1st and latter offenses, etc..
Default
My former colleague Stergios who, unlike me, probably has some idea what he's talking about, says Greece should default, and also adds some details about what that would entail and require.
The main problem with an exit from the eurozone is the transition period. Capital controls will have to be imposed. Temporary measures to ration foreign exchange for the importation of petroleum and other essential items will have to be undertaken. How will the Bank of Greece settle with the ECB? How will debt be converted from euros to drachmas?
It is clear that a tremendous amount of preparatory work is needed both for default and for exit from the eurozone, and much of it has to be undertaken in utter secrecy. Still, it has to be done – even if one were to disagree with exit from the eurozone. The reason is that such preparations would also enhance Greece's bargaining position with the troika. Instead of laughing at empty threats of renegotiation, as has occurred twice with the current finance minister, the troika would see that the government means business.
The Balance
I never really had a problem with Fox claiming to be "fair and balanced," I just had a problem with most of the rest of your liberal media playing along with the fiction.
Wanker of the Day
Matt Miller.
All of the iterations of this are just attempts to pull the Democratic party further to the right by pretending that it hasn't moved there already.
All of the iterations of this are just attempts to pull the Democratic party further to the right by pretending that it hasn't moved there already.
Anything That Lets Us Lay People Off
It isn't possible for me to know, but I've long been puzzled by the widespread adoption of self-service checkouts in supermarkets and other places. It didn't seem to me that the additional capital costs would really be offset by labor cost reductions. They still require at least one hovering employee to deal with problems and card people for alcohol purchases. In addition, people aren't very fast at using the machines so you need a higher number of machines/user to speed people through the line. We may not see "supermarket cashier" as a super high skilled position, but the fact remains that doing it well, as with most things, does in fact require skill. A good cashier is fast and accurate, checking people out more quickly and more efficiently.
So I'm not totally surprised that they're pulling back a bit, though I'm sure the next scheme promising a reduction in personnel will be embraced as soon as it comes along...
So I'm not totally surprised that they're pulling back a bit, though I'm sure the next scheme promising a reduction in personnel will be embraced as soon as it comes along...
Repeat Over And Over And Over
Dean Baker:
We know how to get out of this mess, we have known how for 70 years. We just need the government to generate demand. That means spending money. Ideally it would spend money on useful things like education, health care, and infrastructure, but even if it spent money in wasteful ways it would still create jobs and put people to work.
In the 30s we got much of the way back to full employment with the Works Progress Administration and other programs. Much of what was done was useful -- look around, you won't have to go far to find infrastructure built by depression era programs. However, it took the massive spending associated with World War II to get the economy back to full employment. There is no magic associated with war that makes military spending more effective in creating jobs. The only difference was the that the threat to the nation from the Axis powers removed the political obstacles to the necessary spending.
The same situation applies today. We just need to spend money. That applies to both the United States and the euro zone countries. The problem is that we have more people in political leadership positions who want to be morality cops and lecture about balancing budgets rather than focus on policies that will restore economic growth. This includes the top officials at the European Central Bank, many of the voting members of the Federal Reserve Board's Open Market Committee and much of the political leadership in the euro zone countries, the United Kingdom and of course here.
Can't Get To Work
There's a wee flaw in designing an economy which requires people to spend a huge amount of money to purchase and maintain a giant metal box in order to be able to drive to minimum wage jobs.
"Injecting Capital"
It's a lovely euphemism for "giving free money to the assholes who keep trying to destroy the world."
But What About The Children??
Pope Douthat's article was so poorly written it was difficult to know what his point was, but I think Scott gets it just right. It's the same thing that anyone trying to push for any kind of greater justice always gets. I'm reminded of when Nick Kristof chastized American feminist groups for not devoting their scarce resources to helping women in other countries who really have problems, unlike US women who should just STFU and accept that they have it pretty good. There's always a more important problem, the focus of your work is distracting attention from those other problems, and the NYT pays me a lot to pontificate about such things so you should obey me.
Sunday, September 25, 2011
No Experience With Urban Hellhole Living
I get that this is hyperbole, but it's still largely how a lot of people view "cities," as collections of skyscrapers.
Live where you want, yadda yadda, if you like small towns or rural areas enjoy! But single family housing, especially but definitely not necessarily attached single family housing, is perfectly compatible with population densities that can sustain quality walkable urban living. I'm reasonable sure most people see West Philadelphia/University City as "urban," and its housing stock is largely made up of very large Victorian duplexes. Some of these have been converted into apartments over time, of course, but plenty are just attached single family homes with decent yards, etc...
t might not work for Matt, but for a lot of people, a lifestyle outside of a 3,000 unit apartment high rise is a better choice for some. What, pray tell, is wrong with this?
Live where you want, yadda yadda, if you like small towns or rural areas enjoy! But single family housing, especially but definitely not necessarily attached single family housing, is perfectly compatible with population densities that can sustain quality walkable urban living. I'm reasonable sure most people see West Philadelphia/University City as "urban," and its housing stock is largely made up of very large Victorian duplexes. Some of these have been converted into apartments over time, of course, but plenty are just attached single family homes with decent yards, etc...
Say Goodbye
Euro elites are oddly committed to the project that they're desperately trying to destroy.
Heckuva Job
The Galtian Overlords who run the local orchestra are blowing all of their money on bankruptcy proceedings.
Just the annual salary of 20 or so musicians.
According to filings submitted for court approval, the case has so far cost the association more than $4.4 million: $3.2 million in legal and professional fees, and $1.25 million in a severance agreement with Peter Nero and the Philly Pops.
Just the annual salary of 20 or so musicians.
Sunday Monster Blogging
Pope Douthat says we can't abolish the death penalty because then the great unwashed masses might get the idea that our justice system isn't always just.
Really.
No linky, find it yourself...
Really.
No linky, find it yourself...
Sunday Bobbleheads
This Week has Plouffe.
Face the Nation has Debbie Wasserman Schultz and to discuss some exceptions to the 'i before e' rule, Reince Priebus.
Meet the Press has Bibi, Bloomberg, Shalala, and Bill Bennett.
Just stay in bed instead.
Face the Nation has Debbie Wasserman Schultz and to discuss some exceptions to the 'i before e' rule, Reince Priebus.
Meet the Press has Bibi, Bloomberg, Shalala, and Bill Bennett.
Just stay in bed instead.
Headshot Journalism
Perhaps I'm biased in that I think very little of Anand Giridharadas to start with, but what the fuck is up with New York Times op-ed writers setting up vanity sites with carefully posed male model headshots?
Douche.
MAS. There really is no evidence that this sprout knows shit from Shinola. Why is he bothering us?
Douche.
MAS. There really is no evidence that this sprout knows shit from Shinola. Why is he bothering us?
Saturday, September 24, 2011
Spigot
Hey, more free money for rich banksters. This is a truly shocking development that nobody could have anticipated.
If only anybody was interested in bailing out the labor sector.
European officials are working on a grand plan to restore confidence in the single currency area that would involve a massive bank recapitalisation, giving the bail-out fund several trillion euros of firepower, and a possible Greek default.
If only anybody was interested in bailing out the labor sector.
No Prayer Necessary
Just give people - not banksters - free money already.
After an incredibly volatile day on world markets, the head of the International Monetary Fund, Christine Lagarde, warned of a looming "collapse in global demand" which threatens to push economies around the world into a new recession.
POLITICO DISCOVERS ELIZABETH WARREN SCANDAL!!!!
Thanks Politico, for checking Drudge and even pretending! Namely:
Still, members of the public would not be able to find her panel salary unless they cross-referenced it with her executive disclosures, which are available through the U.S. Office of Government Ethics.Just like Hitler!
Friday, September 23, 2011
Crises
You can see how everybody starts to jump a bit when TEH MARKET starts to crash. The labor market crashed years ago and still hasn't recoverd.
I Should Keep Repeating Until Very Serious People Listen
The solution to all of this is to give people free money. Just give everyone a $10K platinum coin.
And no I don't know if the Treasury has authority to do that, really, but it's what should happen, instead of "more free money for failing banks."
And no I don't know if the Treasury has authority to do that, really, but it's what should happen, instead of "more free money for failing banks."
Public Enemy #1
If nothing else, Elizabeth Warren might serve to distract the right and "center" from every other democrat.
Lending Crisis
The press calls it Europe's "debt crisis," to suggest the problem is with bad guvmints borrowing too much money. The truth is Greece would probably be better off defaulting, but the banking system and other European economies wouldn't be. It isn't a debt crisis, it's a lending crisis. Nobody put a gun to their heads and made them lend the money.
TEH MARKET
BBC News tells me that market participants are eagerly awaiting more government action.
Late capitalism is awesome.
Late capitalism is awesome.
Put The Straights Back In The Closet
Leaving the booing aside, we can marvel at the brilliance of the word salad from my favorite former senator.
If only the big gay gayeee gayee gays would stop talking about all the hot sexy sexytime all the damn sexytime everything would be ok. Oh, and have you met my wife and 4 children?
Too stupid to breathe.
Santorum: What we are doing is playing social experimentation with our military right now. That's tragic. I would just say that going forward we would reinstitute that policy if rick santorum was president. That policy would be reinstituted as far as people in I would not throw them out that would be unfair to them because of the policy of this administration. But we would move forward in conformity with what was happening in the past. Which was sex is not an issue. It should not be an issue. Leave it alone. Keep it to yourself whether you are heterosexual or homosexual.
If only the big gay gayeee gayee gays would stop talking about all the hot sexy sexytime all the damn sexytime everything would be ok. Oh, and have you met my wife and 4 children?
Too stupid to breathe.
Thursday, September 22, 2011
Doubling Down
It's the austerity you assholes.
Please appoint some horses to senior political positions. They really couldn't do any worse.
The Prime Minister said that the failure of leaders in the US and Europe to tackle government deficits now “threatens the stability of the world economy”.
Mr Cameron spoke as stock markets around the world fell sharply again, with the FTSE-100 suffering its biggest drop for more than two years.
Politicians, central bankers and investors are increasingly worried that the world’s biggest economies are sliding back into a recession, dragged down by government debts.
Please appoint some horses to senior political positions. They really couldn't do any worse.
Huzzah!
More free money for incompetent rich assholes.
You could also give some state aid to mere people. Ah fuck'em.
The EU internal markets commissioner, Michel Barnier, said the 16 banks that nearly failed the stress tests “are judged to be fragile and must also be strengthened further. We want the recapitalization for these banks to be by private means. The era of bailing out banks must end. But I cannot, of course, exclude the possibility that some of the above banks will require state aid
You could also give some state aid to mere people. Ah fuck'em.
No It Would Be Very Simple
It might or might not be advisable, but unless you just think "rich people income" is more special than other income it would be easy to write a law that would require them to owe, at minimum, x% of Y, where Y is some measure of income (gross, adjusted gross, whatever).
Maybe We Can Tell People Who Was Right?
Maybe editors can invite those who were screaming about bond vigilantes to write heartfelt apologies to all of those they helped to condemn to long term economic suffering?
Just kidding, they'd just write how brave and bold it was to be a part of their very smart club, even though they're wrong about everything.
Just kidding, they'd just write how brave and bold it was to be a part of their very smart club, even though they're wrong about everything.
People From [InsertRandomLocation] Are Just Different, And Better!!
I'm unsurprisingly not one who thinks we are unaffected by our geography and surroundings, but general Cal Thomas bashing aside I really dislike that entire genre. Yes all places are a little bit different and have their unique subcultures, but the point is.. that's true of all places. We're all special, and therefore there's nothing special about being special.
WHEEEEEEEEEEEEEEEEEEEEEE
Maybe a crashing stock market will encourage somebody to do something.
Of course "something" will probably be "give free money to 'job creators.'"
Of course "something" will probably be "give free money to 'job creators.'"
It's Inconceivable
Or not.
The new evidence, which is likely to be central to the investigations into the Murdoch empire, reveals that police informed the company two years earlier that they had uncovered strong "circumstantial evidence" implicating other journalists. A senior police officer held a meeting with Ms Brooks in the weeks after the arrest in August 2006 of Mr Goodman and the private investigator Glenn Mulcaire.
Related articles
The officer who met Ms Brooks – a former editor of the NOTW who at the time was editing The Sun – told her that detectives sifting through a vast cache of documents seized from Mulcaire's south London home had uncovered evidence that Goodman was not the only individual on the paper involved in criminal activity. Information was disclosed about the nature of that evidence.
Wednesday, September 21, 2011
Lukewarm Mush
So it seems TEH MARKET didn't like the mush Bernanke served up today.
The people who rule us have the power to fix things. It isn't even that hard (though, yes, our institutions are stupid enough that saying it isn't hard isn't saying that one person can just make it happen).
The people who rule us have the power to fix things. It isn't even that hard (though, yes, our institutions are stupid enough that saying it isn't hard isn't saying that one person can just make it happen).
Punchline
Since my point might not have been clear here, I meant that that the growth of the water treatment business depended a lot on.... evil guvmint regulations.
Nothing Wrong With That
I don't agree with the substance, but I don't think there's anything wrong with Republicans sending the Fed a sternly worded letter. If you believe that central bank independence is important, then you don't want the president being able to boss the Fed chairman around and similarly you wouldn't want Congress trying to goad the Fed into one action or another through legislation. But there's nothing wrong with policymakers expressing their opinions about what the Fed is doing.
Our Galtian Overlords
A big mistake many people make is to assume that people who are successful in one area are talented and knowledgeable in others. Our local galtian overlords have a plan to tank the economy.
The internet tells me Betz Laboratories is a water treatment company.
Roger Colley, a former president of two local environmental companies - Betz Laboratories and Envirogen - would try to reduce uncertainty for business by doing the following:
First, put all new regulations on hold and freeze federal spending, both for five years. Next, cut the corporate net income tax rate to 15 percent from a top rate of 35 percent and make the current rates for individuals permanent.
Finally, Washington needs to "start all over again" with its changes to the nation's health-care system, Colley said in an e-mail.
The internet tells me Betz Laboratories is a water treatment company.
Austerity Bites
UK deficits are increasing as they're cutting spending, and the Treasury is very happy that their spending plans are being followed. Even though the economy is tanking and the deficit is increasing.
Heckuva job, Galtian overlords.
Heckuva job, Galtian overlords.
The Real Affirmative Action Program
And on and on.
About a quarter of college and university admissions officers experience pressure from senior-level administrators, trustees and donors to admit some applicants, according to a first-of-its-kind survey of admissions leaders.
Giving Away Their Power
Thinking more about the Netflix issue (not the most important thing in the world), it's puzzling that they'd basically announce their intentions to degrade and abandon the thing (dvd by mail) they a) have significant market advantage in and (more importantly) b) the thing that gives them power over the content providers due to the first sale doctrine of DVDs. Basically, before they'd go to content providers and essentially say 'give us streaming rights and we'll split all the savings we'll have from not having to deal with physical inventory and mailing.' Now they'll go to the content providers and beg for the privilege of outbidding amazon or whoever. There are large barriers to entry for a quality cost effective DVD-by-mail system. The only real barriers to entry in internet streaming involve cutting content deals, giving the providers all of the power.
Also, too, pissing off your customers and making a shittier product.
Also, too, pissing off your customers and making a shittier product.
Twist
I'm pretty pessimistic than any likely to happen monetary policy is going to have any positive effect. I guess I'm still marginally in the "something is better than nothing" camp, but it seems the best we can hope for is that rich people make enough money to hire some of us to scrub their yachts.
Generation Old Problem
I imagine valet parking might help on the margin, but the generation old problem is the one that nobody wants to confront directly. If you have enough space for the cars, you don't have enough space for anything people want to drive to.
What She Said
Elizabeth Warren!
I hear all this, you know, “Well, this is class warfare, this is whatever.”—No!
There is nobody in this country who got rich on his own. Nobody.
You built a factory out there—good for you! But I want to be clear.
You moved your goods to market on the roads the rest of us paid for.
You hired workers the rest of us paid to educate.
You were safe in your factory because of police forces and fire forces that the rest of us paid for.
You didn’t have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.
Now look, you built a factory and it turned into something terrific, or a great idea—God bless. Keep a big hunk of it.
But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.
Tuesday, September 20, 2011
Reversing Stupid
Good.
Scotland Yard has "decided not to pursue" its legal bid to force the Guardian to reveal the sources it used for stories about phone hacking.
The Worst People In The World
A 1953 play about a Muslim street poet can't be performed because 911911911911911911911911911911911.
Assholes.
JOHNSTOWN, Pa. - A western Pennsylvania school district has decided not to stage a Tony Award-winning musical about a Muslim street poet after members of the community complained about the play on the heels of the 10th anniversary of the September 11 attacks.
The Tribune Democrat of Johnstown reports Richland School District had planned to stage "Kismet" in February but Superintendent Thomas Fleming says it was scrapped to avoid controversy.
Assholes.
Lamar!
I thought Lamar Alexander would be a big senate grandstander, sorta like Lindsey Graham, but he's been remarkably invisible, at least nationally, for most of his time in the Senate.
Senate Republican Conference Chairman Lamar Alexander has informed his colleagues that he is dropping his Whip bid and will step down from leadership in January.
In a letter sent to Republican Senators this morning, the Tennessean and close confidant of Minority Leader Mitch McConnell (Ky.) explained that he could have more of an impact on the issues he cares about outside of leadership. Alexander, 71, said in the letter that he plans to run for re-election in 2014. Senate Republican Policy Committee Chairman John Thune is likely to announce today that he will seek Alexander’s current position in the next Congress, a source close to the South Dakotan said.
Go Galt Already!
I think perhaps the greatest argument for obscenely high tax rates is that a bunch of assholes would finally take their balls and go home.
Those Meddling Bloggers
I still love that for certain people the 'blogger' represents everything that is wrong in our brave new world. It drives them insane that their imagined gatekeepers no longer have the power to keep out the riffraff, and that now everyone can potentially not just publish but be heard.
The Obama Show
One insight I gleaned many millions of blogyears ago is that much of the commentariat sees government, and the presidency especially, as a costume drama playing out for their entertainment. This is probably true to some extent of most people who pay a slight bit of attention to politics. It's sport or theater with varying levels of entertainment value. But the elite commentariat, the people whose job it is to pay attention to this crap, should be smart enough to understand that it doesn't matter one bit if people in Washington get along, and should get that whether tipandronniehavedrinksafterwork is, in fact, about the least important thing in the universe. More than that, "unity of purpose" is both an unachievable and undesirable goal. This is a democracy, people disagree about stuff. That's good, not bad.
Dudely
I'm really not going to bother my beautiful mind trying to filter through the claims and counterclaims surrounding Suskind's book, but I've long said (perhaps not on the blog (?), but to friends) that there did seem to be a strong dude culture in the White House in a bad way.
Shot And A Chaser
Great news everybody!!!
Uh...
Despite U.S. economic woes, another recession is unlikely, according to a quarterly forecast by UCLA researchers.
Uh...
The state's jobless rate is expected to remain around 12% through next year.
Awesome
As long as the humans programming the drones have nothing but good intentions it's all good. They only intend them to kill 'bad guys' after all...
Monday, September 19, 2011
One Card
Information (where/when/whichroute) and payment (how/howmuch) have long been barriers for non-regular commute mass transit users. The internet has solved the first problem, with transit agency trip planners and for many cities google maps directions providing people what they need to know. And single payment systems, such as DC's Smartrip or London's Oystercard, which simplify payment and are accepted across multiple travel modes (bus,subway, train, tram), solve the second.
Easier than driving.
Easier than driving.
Really A Bad Plan
As I said before regarding netflix, whatever works for them. They're a non-monopoly business with a nonessential product, and if they think the best way to chase the benjamins is to split their store into two separate ones and create a much shittier product for the consumer they're welcome to do so. I just have a hard time believing that they won't lose tons of customers, as to me their basic business model was always "this is too good a deal to pass up," both in terms of money and ease of use.
For Your Consideration
I'll offer up, without comment, Ezra's presumably informed take on the state of the world...
It's The Day After Friday
I don't think ending Saturday delivery is a major crime against humanity, but it really really would need to be offset by somewhat extended evening and Saturday hours at the actual post offices.
So, Uh, Where's The Peace Then?
Lindsey Graham, of course, is one of the most serious senators when it comes to foreign policy issues, along with his sidekicks Lieberman and McCain.
That they're all complete buffoons seems to matter not to Village bookers.
That they're all complete buffoons seems to matter not to Village bookers.
All We Really Need To Do Is Nothing
Other than the "do something about jobs right now" bit,anyway. I'm quite happy for all of the various dumb dealing with the deficit plans to just go away. Maybe I'm not quite so optimistic about the firmness of that veto threat, but if it's real...
Default
It's hard not to agree with Dr. Doom. Greece should default and leave the Euro.
Though I don't think it's going to happen.
Logically, therefore, if those three options aren’t possible, the only path left is to leave. A return to a national currency and a sharp depreciation would quickly restore competitiveness and growth, as it did in Argentina and many other emerging markets which abandoned their currency pegs.
Though I don't think it's going to happen.
Burn The Brand Down
Whatever works, but I suspect the geniuses running Netflix Qwikster don't actually have any idea what they are doing. Streaming may be the future, but DVDs were where they had the competitive advantage and customer stickiness. You can get limited catalog streaming anywhere, you can't get an incredibly giant (but by accounts dwindling) DVD library which appears in your mailbox in a day anywhere.
It's A Miracle The Subject Was Broached At All
It's sadly notable that abortion was even suggested as an option, even if a quickly rejected one. That's actually progress.
Sunday, September 18, 2011
On TV
Seems that Chris Hayes convinced some security guard at MSNBC to let him in and then took over the broadcast.
Never Been Quite Sure
Did people turn on HMOs because they sucked or because of anti-Clinton health care reform rhetoric?
Obviously they weren't all created equal, but my vague memory is they went from the savior of health care to history's greatest monster in the public perception pretty quickly.
Obviously they weren't all created equal, but my vague memory is they went from the savior of health care to history's greatest monster in the public perception pretty quickly.
Along Those Lines
I don't know for sure, but I'm reasonably sure the risk of stranger abduction on a commuter train is far lower than the risk of severe injury or death for a kid riding in a car passenger seat.
Parse This
Other people are different from me.
The bank's statement comes as UBS boss Oswald Gruebel insisted he would not resign over the incident.
"I'm responsible for everything that happens at the bank," Mr Gruebel told Swiss Sunday newspaper, der Sonntag. "if you ask me whether I feel guilty, then I would say no."
Be Very Afraid
I understand the reasons to some degree, but the mismatch between reality and the perception of reality when it comes to crime trends is quite large. Times are indeed different these days, but not like most people think. Violent crime rates continue to fall.
Sunday Bobbleheads
This Week has Bill Clinton, The Poodle, and Google's Eric Schmidt.
Meet the Press has Clinton, McConnell, and Granholm.
Face the Nation has Clinton and Cheney.
Document the atrocities!
Meet the Press has Clinton, McConnell, and Granholm.
Face the Nation has Clinton and Cheney.
Document the atrocities!
Saturday, September 17, 2011
An AMT Replacement For Actual Rich People
Not for not-so rich people. Works for me.
In the grand scheme of things the injustice of the AMT hitting not quite rich enough people is not a big deal. But I got hit with the AMT once (twice?). It was annoying. I'm not objecting to the amount of tax I owed. I'd be happy to raise the marginal rates to achieve the same goal (meaning I'd have paid same amount I owed), but dangling those deductions which influence the decisions you make, along with requiring nontrivial accounting, only to pull them back on the final turbotax page, or whatever, is stupid.
Generally I'm against phasing out of deductions. Cap deductions, fine, and raise marginal rates even on the not quite rich enough crowd, fine, but phasing out deductions based on income can result in very high effective marginal tax rates.
In the grand scheme of things the injustice of the AMT hitting not quite rich enough people is not a big deal. But I got hit with the AMT once (twice?). It was annoying. I'm not objecting to the amount of tax I owed. I'd be happy to raise the marginal rates to achieve the same goal (meaning I'd have paid same amount I owed), but dangling those deductions which influence the decisions you make, along with requiring nontrivial accounting, only to pull them back on the final turbotax page, or whatever, is stupid.
Generally I'm against phasing out of deductions. Cap deductions, fine, and raise marginal rates even on the not quite rich enough crowd, fine, but phasing out deductions based on income can result in very high effective marginal tax rates.
Deep Thought
Instead of war, can't we just install Bob Rubin as Treasury Secretary in countries we don't like?
How Is This Even Possible
I really don't have any understanding of how a trader could do this.
Or even why? Why not actually hedge the bets?
It is thought a trader was able to circumvent UBS's risk-management systems by creating fictitious trades that made the bank's computer systems believe that the positions taken had been "hedged" to mitigate potential losses when in fact they had not been.
Or even why? Why not actually hedge the bets?
Stuff We Forget
I haven't spent a lot of time in "poorer" or "less developed" or whatever we're calling them these days countries, but in my not vast experience the thing which stands out starkly is the poor quality/lack of public infrastructure.
Just Do It
Yeah, Elizabeth Warren, just give Goldman Sachs a call and see if they'll make you a partner...
Maybe I'll give Joe Lieberman a call and see if he'll make me his Chief Adviser On What Country To Blow Up Next.
Maybe I'll give Joe Lieberman a call and see if he'll make me his Chief Adviser On What Country To Blow Up Next.
The Worst Idea In The World
Raising the Medicare eligibility age isn't just a bad idea because squishy liberals like me think life should be easy for older people, or a bad idea because it's stupid fucking politics, it's a horrible idea because it will increase overall costs and mess up our already fucked up health care/health insurance markets more. Also, too, it will make life horrible for older people.
Mucking with Social Security is bad, mucking with the Medicare eligibility age is bad AND stupid. So it's probably the likeliest outcome then.
Mucking with Social Security is bad, mucking with the Medicare eligibility age is bad AND stupid. So it's probably the likeliest outcome then.
Friday, September 16, 2011
Kill Me of Night
Who the fuck cares who wins the Republican primary?
"I'd like anal warts." "No! I want syphilis!"
"I'd like anal warts." "No! I want syphilis!"
Lower Than They've Been In A Long Long Time
You get the deception from media figures in the right, and then your really stupid elected officials.
Super Duper Wankers
I somehow missed that in addition to the SuperWanker committee we know have the self-appointed Grand Royal Poobahs Of The Duchy Of SuperDuperWanker who want to 'GO BIG!!!'
Don't blame them, really. No one will blame them when the economy is destroyed, until perhaps the lights are finally turned off at Kaplan Test Prep.
Don't blame them, really. No one will blame them when the economy is destroyed, until perhaps the lights are finally turned off at Kaplan Test Prep.
Learn Damnit
It was already basically dead, but when the Bush administration finally-sorta-kinda got around to putting out their own actual Social Security plan, after months of the media and the Republicans blasting the Democrats for not being Very Serious and pre-emptively releasing their own plan to destroy Social Security, and the "transition costs" were, IIRC,* by their own admission north of ONE TRILLION DOLLARS, even the Villagers started to turn against it a bit.
And, yes, reporters should know this...
*The google and my memory are failing me now, but IIRC the only "plan" that was released was released in an on background press briefing by some administration official...
And, yes, reporters should know this...
*The google and my memory are failing me now, but IIRC the only "plan" that was released was released in an on background press briefing by some administration official...
But What About All The Killer Clowns
We all weigh relative risks badly, not knowing what they are or how to respond to them, but people should be in tune more with the fact that putting your kids in a car is about the most dangerous "normal" activity you can expose them to...
As Long As They Do Something Decisive
I imagine Timmeh knows this, but these issues are never about people getting together to "to do what is essential." There are a bunch of stakeholders. Different ways of resolving the crisis will impact the different stakeholders differently. In addition you have individuals and institutions wedded to various ideologies, and these differences can't simply be resolved by chopping all of the various babies in half.
There is no one right way forward.
There is no one right way forward.
Unauthorized
I think even I could code the little trading computer with something like "if bet>$1 trillion, deny authorization." Or, ok, these things are complicated, how about if "Probability of loss>$1 trillion is >.00001 then deny authorization."
Thursday, September 15, 2011
They Could Just Give Them Free Money
It departs slightly from what we think of as "monetary policy," but conceptually there's nothing* stopping the ECB from giving lots of free money, to, say the Spanish government. Presumably this money won't be spent building bridges or SUPERTRAINS in Munich, and wouldn't be especially likely to contribute to an overheating German economy. The point is, if Germany is doing just fine but Spain is in a recession, I get why German citizens might not want to be taxed to give money to Spaniards. What are the obejctions to running the printing presses for awhile?
*In practical terms there might be lots of things stopping them, but I haven't yet seen anyone say what exactly is wrong with the idea, other than traditionally central banks only give free money to large banks.
*In practical terms there might be lots of things stopping them, but I haven't yet seen anyone say what exactly is wrong with the idea, other than traditionally central banks only give free money to large banks.
Basically Everybody Gets HPV
Consult your qualified medical professional, but, yes, I gather that people have some misconceptions about HPV. Practically everyone who has sex gets it at some point, mostly asymptomatic and it often disappears or goes dormant without anyone being aware.
Unthinkable Sums
Random tossed off amounts of what we should spend in Iraq, about 2/3 of their GDP, in order to make stupid old men responsible for hundreds of thousands of needless deaths feel a bit better about themselves are Very Serious Proposals, while any similar proposal for spending that money at home is CRAZEEE. Like DENNIS KUCINICH CRAZEE.
Us And Them
Never fear, they're doing their best to make things worse, but at least they don't need a warrant to tap your phone.
The FBI is teaching its counterterrorism agents that “main stream” [sic] American Muslims are likely to be terrorist sympathizers; that the Prophet Mohammed was a “cult leader”; and that the Islamic practice of giving charity is no more than a “funding mechanism for combat.”
Losing Is The Only Crime
I'm sure an "unauthorized" win would have been fine.
LONDON - Police in London's financial district have arrested a 31-year-old man in connection with a massive loss reported by Swiss bank UBS.
Thursday Is New Jobless Day
428K new lucky duckies.
As usual, an "unexpected" increase.
Maybe somebody should do something? Nah, much more fun to fret about the consequences of trying to do something.
As usual, an "unexpected" increase.
Maybe somebody should do something? Nah, much more fun to fret about the consequences of trying to do something.
Unauthorized
It seems like losses at the Great Casino are always unauthorized.
(Reuters) - Switzerland's UBS said on Thursday it had discovered unauthorized trading by a trader in its investment bank had caused a loss of some $2 billion.
Wednesday, September 14, 2011
Sucking
It's the sucking on purpose part that rankles. We could have internet innovation managed as well as Korea does. We could have trains as good as some random European country.
We don't.
You know, we should have something state of the art.
That's right. We do.
Drones.
Happy Hour Thread
People cheering on death and pain is nothing new, and the impulse did not suddenly disappear when Leave It To Beaver started being broadcast on the teevee.
Now go have a drink!
Now go have a drink!
Very Serious International Economic Advice
Cut spending to cut deficits -> economy shrinks -> deficits increase ->cut more spending -> economy shrinks -> deficits increase -> ...
Yes I Fear The Consequences
But my point is that before this nefarious plan was hatched, I imagine few of us thought badly of those states which chose their electors in this fashion (damn you Maine!!). I'm sure there are arguments that can be made why Pennsylvania shouldn't do this, but I don't think they'd persuade me if it was something which would be likely to benefit my chosen team.
All's Fair
And, yes, I'm so old I can remember when it was Villager conventional wisdom that if ALGORE won the electoral vote and lost the popular vote he might HAVE TO refuse to take office, or some crap, but I don't have any principled objection to this.
I'll Be Liquid As Soon As My Puppy Wins At The Dog Track
And, once again, everyone just pretends that the massive needs that banks have for free money is just this 'liquidity' thing, instead of wondering why the hell banks need free money all the time every day to operate.
Show Them The Money
Yes Social Security is an incredibly effective anti-poverty program. Seniors get money from the government, they have more money than they would have otherwise, and they are therefore less poor. If only we could learn from the success of this program an apply it elsewhere.
We spend a decent amount of money, or at least a decent percentage of the money we do spend on anti-poverty programs, doing anything but giving people money. Maybe we should look at what works.
We spend a decent amount of money, or at least a decent percentage of the money we do spend on anti-poverty programs, doing anything but giving people money. Maybe we should look at what works.
"Liquidity Crisis"
Yes the banks will have no problems as long as people will keep lending them lots of money!!!
I know I'm supposed to understand this stuff, but why does every bank seem to survive only if they can borrow money from other banks constantly?
I know I'm supposed to understand this stuff, but why does every bank seem to survive only if they can borrow money from other banks constantly?
Good Terrorists, Bad Terrorists
I'm not sure if the point to be made is that, yes, there was widespread support in the US for IRA terrorism back in the day, or that, yes, terrorism is a tactic and those who engage in terrorism are mostly seen as 'good' or ' bad' depending on whether 'we' like them or not.
Contracting Our Way To Prosperity
In a completely shocking development, austerity isn't wokring in the UK either.
Stupid wealthy people who rule the world, more concerned with ideology and being proved fucking right than in making lives better for anybody. Sure, some are doing what's best for their pocketbooks, which I suppose you can respect to some degree, but others are just idiots.
Stupid wealthy people who rule the world, more concerned with ideology and being proved fucking right than in making lives better for anybody. Sure, some are doing what's best for their pocketbooks, which I suppose you can respect to some degree, but others are just idiots.
Tuesday, September 13, 2011
Death Better Than Sexytime
So even if we agree (I don't, but just for fun here) that teen girls should not have sex, then opposition to HPV vaccination is justified on the basis that the marginal increase probability that your vaccinated daughter will have the sexytime is more important to you than the possibility that without the vaccine she might face the deathtime. And of course the obvious point is presumably she will have sex eventually with Mr. Right, who hasn't necessarily been a good boy himself...
ok.
ok.
This Economic System We Have?
Not working for most of us. So, uh, it's not effing working.
Kenyan Muslim Socialism, you're our only hope...
Kenyan Muslim Socialism, you're our only hope...
Simple Answers To Simple Questions
Kill her!!!!
They* don't care about "unborn children," they care about controlling women and punishing them for unapproved sexytime.
*Usual disclaimer, I don't mean all self-described pro-life people, just the movement prolifers/leaders.
They* don't care about "unborn children," they care about controlling women and punishing them for unapproved sexytime.
*Usual disclaimer, I don't mean all self-described pro-life people, just the movement prolifers/leaders.
Dare To Dream
So what should happen to someone who was brought here as a child of 3 from another country, and has never known any other country other than this one or any other language but good enough for Jesus American English?
I have a modest proposal.
LET THEM DIE!!!!!! (CHEERS!!!)
I have a modest proposal.
LET THEM DIE!!!!!! (CHEERS!!!)
Listen To Ourselves
So aside from the the fact that the tax the rich 'pay for it' plan is just a "trigger," and the superwankers can choose their own adventure here, I thought this from Lew was something people need to remember.
Given veto points, there's a certain inertia in the system of course, but when it comes to budget items...they're up all the time, and a potential shutdown looms each time.
So why are we talking about 5 and 8 years from now?
Obviously Congress can pass a subsequent law.
Given veto points, there's a certain inertia in the system of course, but when it comes to budget items...they're up all the time, and a potential shutdown looms each time.
So why are we talking about 5 and 8 years from now?
And Just When You Think They've Reached Peak Stupid
They manage to make that pie just a little higher...
To The Sea!
Finally you'll be able to (once again) take a choochoo to the sea in LA.
DOWNTOWN — With a flourish of gold-painted shovels, a gaggle of city, county and state officials broke ground on the final stop of the Exposition Light Rail Line, which should be coming to Santa Monica in 2015.
The event marks the end of a 22-year process that required uncommon cooperation and collaboration between multiple jurisdictions to bring the rail line from its beginning in Downtown Los Angeles to its terminus 15 miles away in Santa Monica.
When complete, it should take 46 minutes to travel from Los Angeles to the city by the sea.
Showing Your Papers On The Train
I don't remember the precise timeline, but for a couple of years or so they were checking IDs universally on Amtrak, then they supposedly started doing random checks but it's been a long time since I've had an ID check. It's almost entirely pointless. Generally identity verification is just security theater. And, ultimately, what're you going to do when someone fails to have ID? Well, when I forgot my license once nothing happened. They decided not to throw me off the train at the next stop without any ID. I assume this was pretty standard.
Identity verification is mostly pointless, identity verification after someone has boarded is entirely pointless, and identity verification pre-boarding wouldn't really be compatible with a functioning train network. Also, too, anyone can steal a damn bus and drive it into a crowd (point being there are a lot easier ways to do damage than train-related program activities).
Identity verification is mostly pointless, identity verification after someone has boarded is entirely pointless, and identity verification pre-boarding wouldn't really be compatible with a functioning train network. Also, too, anyone can steal a damn bus and drive it into a crowd (point being there are a lot easier ways to do damage than train-related program activities).
Where'd It All Go
Not naive about the capacity of people to steal, but it's a bit hard to get what's going on here absent a massive gambling problem (and I include The Great Casino as part of the gambling potential of cousre).
What's It For
Without wishing to ignite a city mouse/country mouse feud, I think we'd have fewer of these problems if we just acknowledged that there was public infrastructure that should be provided, that sometimes communities/states come up short in being able to provide them, and that then maybe there's a place for the Feds to step in. The point I'm trying to make is that if we just had a more common understanding of what universally provided public services/infrastructure should be, and focused on the provision of those things, then there'd be less talk of wasting money propping up unsupportable places.
And, no, I'm not trying to start a city mouse/country mouse feud. Same point could be made about lots of money spent in urban areas...
And, no, I'm not trying to start a city mouse/country mouse feud. Same point could be made about lots of money spent in urban areas...
Monday, September 12, 2011
Monday Evening
enjoy. I guess some weird people will be jibber jabbering at each other soon, if you're into that kind of thing.
Refreshing
If the twitter is to be believed the jobs bill would be paid for by making rich people and corporations pay more in taxes in various ways.
Pass The Bill
I can't get too excited about a jobs bill without knowing what the likely awful plans to "pay for it" are, but the politics at the moment certainly seem to be a bit more advantageous for Team D.
On A Related Note
I think reasonable people can genuinely disagree about how "bike friendly" local transportation policy should be. I think the broader problem is that even in an urban hellhole like NYC where significant numbers of people don't own cars and rely on walking/public transportation to get around, policy is set by, and policy discussions driven by, elites who do drive.
Haters
One mystery to be solved is just why newspaper comments sections are the worst places on the internet, if not the world. Still they display an attitude here I've seen elsewhere, contempt and disdain for people who don't own carss. Fewer cars= more road space for you, driver!
But Suffering Is Good For Everyone
We are living in a morality play written by sociopaths, determined to make the poor suffer for the sins of the rich.
Well, not everyone of course...
George Osborne's austerity programme will cut the living standards of Britain's families by more than 10% over the next three years as those on the lowest incomes suffer most from the tax increases and spending cuts designed to reduce the budget deficit.
A study from the Institute for Fiscal Studies, the UK's leading experts on the public finances, concludes that the chancellor's strategy will result in greater inequality and rising child poverty, throwing into reverse progress made in the final years of the last Labour government.
Well, not everyone of course...
One Hell Of A Mulligan
So Joe Scarborough was telling us this morning that Big Daddy George Bush kept us safe.
Oh. Kay.
Oh. Kay.
That's No Fun
What's the point if they can't take your money and spend it at the Great Casino?
Britain's banks should ring-fence their high street and investment divisions as part of a far-reaching reform package which should be put in place by 2019, a Government-appointed commission said today.
The protective firewall would be designed to "make it easier and less costly to resolve banks that get into trouble" and without taxpayers' help, the Independent Commission on Banking (ICB) said.
Sunday, September 11, 2011
It's Never Been About Greece
It's always been about the people gave them money.
The sooner they default the better. Not saying that's an easy path, just the best one.
The sooner they default the better. Not saying that's an easy path, just the best one.
Our media - not theirs!
Cliff Schecter will be talking to Jay Ackroyd on Virtually Speaking Sundays in a few minutes. You can listen live or later at this link.
Signed,
Not Atrios
Signed,
Not Atrios
Yutes
A history professor friend quips (or used to, probably not anymore) that she doesn't have to explain to her students who Monica Lewinsky is, but she will soon...
It occurs to me that the run-up to the Iraq war is just about ancient history to the kids now.
It occurs to me that the run-up to the Iraq war is just about ancient history to the kids now.
The Very Important Question
Who is the worst person at the Washington Post?
I'm struggling to come up with an answer.
I'm struggling to come up with an answer.
Shame
It has been a decade of shame.
How many people died because of what this country did notionally in response to 9/11, cheered on not just be self-styled neocons but by the "liberals hawks" and the "decent left."
Happy 9/11 day assholes.
How many people died because of what this country did notionally in response to 9/11, cheered on not just be self-styled neocons but by the "liberals hawks" and the "decent left."
Happy 9/11 day assholes.
Obviously The Solution Is More Austerity
International elites really are trying to destroy the world.
THESSALONIKI, Greece (Reuters) — Greece’s economy will shrink by more than 5 percent this year, topping earlier projections, the country’s finance minister told business people in this northern Greek city where the prime minister will speak about the economy later on Saturday.
Sunday Bobbleheads
On Face the Nation it's 9/11 day.
On Meet the Press it's 9/11 day.
On This Week it's 9/11 day with Brennan, Bloomberg, Rudy 911, and Don "Sweep It All Up" Rumsfeld.
So, uh, do something else.
On Meet the Press it's 9/11 day.
On This Week it's 9/11 day with Brennan, Bloomberg, Rudy 911, and Don "Sweep It All Up" Rumsfeld.
So, uh, do something else.
Saturday, September 10, 2011
Too Small To Get Credit
If I were more conspiracy-minded I'd wonder if the plutocrats had agreed to starve all the little fish...
Try Being Nice To Your Customers
It's sad about the lost jobs, but as I said yesterday the sheer numbers of bank branches is confusing to me. Most of us should almost never have to walk into one.
Here's A Crazy Idea
How about giving free money to rich people?
Just trying to think outside the box.
Just trying to think outside the box.
We Did It Their Way
Fred Hiatt's crayon scribblers think the last decade has been pretty awesome. They should, we pretty much did everything they told us to do.
Friday, September 09, 2011
Pour Some Sugar On Me
Oy:
Moderate pace?
Treasury Secretary Timothy F. Geithner said President Barack Obama’s $447 billion jobs plan would provide a “substantial” boost to the U.S. economy.
“I think we’ve got a good chance of continuing a moderate pace of growth coming out of this crisis,” Geithner said today in an interview with Bloomberg Television in Marseille, France. If Congress approves the plan, “it would dramatically reduce the risk of a long period of much weaker growth.”
Moderate pace?
The Mysteries Of Branch Banking
I'm so old I can remember years ago when it was CW that with all of the exciting new technology available (ATMs, online banking, etc.) banks would be able to save oodles of money by shutting down branches. Then branches seemed to multiply and proliferate everywhere. I get that they are, in part, advertising, but they're very expensive. My pet "I just made it up" theory is that in their zeal to find ways to skim lots of money off of new ways to do things (ATMs, money transfers, etc.) they forgot that they could save lots of money if people didn't need/want all of those branches.
But what do I know.
But what do I know.
Gonna Carry That 50" Teevee On The Choochoo
Stupid people everywhere.
One of the chief criticisms of the proposed light-rail line from Cumberland Mall to MARTA’s Art Center station in midtown Atlanta has been a concern that criminals will use the transit system to come into Cobb, a concern echoed by Lance Lamberton, president of the Cobb County Taxpayers Association.
Read more: The Marietta Daily Journal - State Sen Stoner is first Cobb lawmaker to give light rail public support
Rock Of Stupidity
I suppose the question is..would any result make these idiots change their minds?
Domestically, if I were the Republicans (not that I expect them to take my advice) I'd offer up enough votes to pass Obama's plan and then wrap it around his neck. Essentially the too little, too late gamble that the economy will still suck in November and make Obama totally own it.
George Osborne mounted a strong defence of his deficit reduction plan on Friday, hailing it as the "rock of stability" that will prevent Britain being wrecked by the global financial crisis.
The chancellor again refused to change direction in the face of poor economic news at home and abroad, in a speech in which he reiterated that Britain's deficit must be vigorously tackled. Otherwise, Osborne warned, Britain's homeowners and businesses would suffer.
Domestically, if I were the Republicans (not that I expect them to take my advice) I'd offer up enough votes to pass Obama's plan and then wrap it around his neck. Essentially the too little, too late gamble that the economy will still suck in November and make Obama totally own it.
The Great Casino
Good to see Bloomberg editors acknowledge what's going on.
Though I will add, that aside from the making money with no down side bets part, it's also culture. "Normal" banking is boring. Gambling is fun fun fun!
Though I will add, that aside from the making money with no down side bets part, it's also culture. "Normal" banking is boring. Gambling is fun fun fun!
Name Them
After months of hearing about this regulation crap, could any reporter be bothered to ask...which ones?
Thursday, September 08, 2011
Speechify
The official thread. Drink during all the usual appropriate drinking moments, then go watch grown men in armor throwing a ball around.
I Was Against The War In My Blogs
I'm just thinking about Bill Keller and the latest round of nobodycouldhavepredicted and Iwaswrongfortherightreasonswhiletheywererightforthewrongreasons.
So many years later, and all I can think is...face it, you got conned by really stupid people. What does that say about you?
So many years later, and all I can think is...face it, you got conned by really stupid people. What does that say about you?
Small Improvements
It isn't a revolution, but even small improvements are welcome to the area around 30th St. Station (the urban hellhole's Amtrak station), which is currently completely unfriendly to pedestrians and to people who naively think that there might be an obvious way - or even a direct connection! - to travel from the 30th st. train station to the 30th st. subway/trolley station.
Just Imagine If He'd Auctioned Off The Right To Push The Button
Or stabbed someone to death on stage live?
We shouldn't be surprised by wingnuts who love it when "bad guys" get killed. This is nothing new!
We shouldn't be surprised by wingnuts who love it when "bad guys" get killed. This is nothing new!
Double Dippery
There's a weird debate floating around out there between the double dip bears and the no double dip bulls. It doesn't matter. +.2% GDP versus -.2% GDP growth is mostly (though not entirely) meaningless. Unemployment that isn't dropping it a reasonable clip is a problem either way. Not entering into another recession as measured by GDP is not actually a success.
Also, too, maybe somebody should do something.
Also, too, maybe somebody should do something.
8/09/2011 - Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to new analysis from the OECD. Growth remains strong in most emerging economies, albeit at a more moderate pace.
“Growth is turning out to be much slower than we thought three months ago, and the risk of hitting patches of negative growth going forward has gone up,” OECD Chief Economist Pier Carlo Padoan said during a presentation of the OECD’s latest Interim Economic Assessment.
Economic growth in the G7 economies excluding Japan will remain at an annualised rate of less than 1% in the second half of 2011.
Reality Show Run
I'm not sure about the independent part, but I've long assumed that's what Palin will do. She will pretend to run, or pretend to be going to run, for as long as possible, as the teevee shows dutifully follow her around.
Grifters gotta grift.
Grifters gotta grift.
Wednesday, September 07, 2011
GOP Debate Coverage
According to the GOP contenders:
TSA agents maul people.
We need a fence!
FEMA sucks.
Watch it live
*UPDATE
Science destroys the economy.
Three cheers for the death penalty!!!
TSA agents maul people.
We need a fence!
FEMA sucks.
Watch it live
*UPDATE
Science destroys the economy.
Three cheers for the death penalty!!!
WTC
Cliff captures it.
He doesn't write about what happened here, afterwards. New Yorkers came together. And, of course, leaving the City, fleeing in fear, was not an option. Supporting our neighbors was our response.
He does write about the threat to the Republic that bin Laden sought, and so far, attained.
Deep Thought
The most reasonable guy in the room would probably do something about 9.1% unemployment.
Afternoon Thread
Having a crappy everything going wrong and being too hard to fix day. Not in a bloggy mood.
The Pointlessness Of Presidential Discourse
Floating around out there are the ideas that presidential speechifying can't get stuff through Congress and that no amount of speechifying can impact the election which is going to be driven almost entirely by the economy.
Well, ok.
Well, ok.
A Little Knowledge Is A Dangerous Thing
Anecdotal, but it's this kind of thing which has long worried me. People who bite the bullet and spend a bit of time actually watching Charlie Rose and reading the New York Times op-ed pages, before they've come to understand that Tom Friedman is a buffoon and the things Maureen Dowd thinks are important actually aren't, end up stupid.
You See, It's All Just A Liquidity Problem
The ATM at the Great Casino broke, that's all.
Just need a bit of extra cash for the daily operations...
But questions continue to mount about the ability of Europe’s banks to ride out the crisis, as some are having a harder time securing loans needed for daily operations.
Just need a bit of extra cash for the daily operations...
Tuesday, September 06, 2011
City Car
I've never been very optimistic that these types of things would ever catch on in the urban hellholes of the US. Basically they need to be really cheap, way below what an entry level 'real car' costs, as well as meeting whatever requirements for them to be street legal.
It's Always Morning In America
I've been thinking about the Politico article since it came out. If we look at the Scariest Chart ever, which admittedly contains some revisions which make things look a little bit worse than they did at the time, it's obvious that there was just never any reason for any confidence that the recovery was here.
Benen's graph might make this a bit more clear. Basically we had two ok but not awesome months and one good month in summer of 2010 (aka Recovery Summer) and then 3 ok but not awesome months this past Spring...and from that, everyone thought we could declare victory and go home.
Benen's graph might make this a bit more clear. Basically we had two ok but not awesome months and one good month in summer of 2010 (aka Recovery Summer) and then 3 ok but not awesome months this past Spring...and from that, everyone thought we could declare victory and go home.
Changing World
I don't have a perfect memory of my upbringing, but I do know that a 10-year-old on a bike wouldn't have raised any eyebrows back then in my neighborhood. When you were 10 you were supposed to do things like ride your goddamn bike. I had some freedom to wander around alone, or at least with my brother (2 years older) at age 6-7, and definitely at age 10, free roaming around the neighborhood, on foot or bike, was normal...
Insanity Everywhere
Plan A is destroying the economy, so...stick with it!
George Osborne has signalled that the government would stick to its hardline deficit reduction strategy despite being forced to revise down his growth forecasts for the economy following the slowdown of recent months.
Everybody Knows
There are several decades long narratives in American politics which people (with a perpetual Villager assist) have long internalized. Democrats are pacifist wimps who want to give all your money to undeserving poor people. Republicans love to cut taxes and to cut government spending. Democratic political consultants seem to be forever trying to fight against these narratives, without seeming to understand that it's very difficult to dislodge them. The problem that arises is that if you start beating the deficit drum, then you haven't made voters "trust you" on the deficit, you've made the case to voters that they should elect the Republicans who will be better on this very important issue.
Of course enlightened Eschaton blog readers know that Republicans are full of shit on spending and to a lesser extent taxes, but David Gregory is never going to explain that to the rest of the country. If you make the case that Republican issues are important, you're making the case for...Republicans.
But it's brilliant politics!!!
Of course enlightened Eschaton blog readers know that Republicans are full of shit on spending and to a lesser extent taxes, but David Gregory is never going to explain that to the rest of the country. If you make the case that Republican issues are important, you're making the case for...Republicans.
But it's brilliant politics!!!
Substance And Politics
Various people have tried to reassure me that the deficit two step is getting the politics right.
I guess The Village has now officially decided that the jobs issue "has become issue No. 1" even though, you know, it's been issue No. 1 for years now.
Public pessimism about the direction of the country has jumped to its highest level in nearly three years, erasing the sense of hope that followed President Obama’s inauguration and pushing his approval ratings to a record low, according to a new Washington Post-ABC News poll.
More than 60 percent of those surveyed say they disapprove of the way the president is handling the economy and, what has become issue No. 1, the stagnant jobs situation. Just 43 percent now approve of the job he is doing overall, a new career low; 53 percent disapprove, a new high.
I guess The Village has now officially decided that the jobs issue "has become issue No. 1" even though, you know, it's been issue No. 1 for years now.
Democracy Is Not The Problem
European leaders weren't elected to bail out banks and punish their population, the Euro and the economic/political integration of Europe was always an elite project with marginal public support, and while here in the US the tea partiers squawk about spending, they don't actually care about it.
This Tomato
The 7-Year-Old loves Neko. We had to gently break it to her that the actual lyric is not "this tomato loves you." Good kid.