Showing posts with label fanaticism. Show all posts
Showing posts with label fanaticism. Show all posts

Wednesday, February 1, 2012

Selling Social Darwinism

Robert Reich has a blog that is well worth following. He is a knowledgeable person with the facts and the social empathy to present an honest account of the situation that the 99% find themselves in.

Here is his latest post:
The Republican Myth of Obama's "Entitlement Society"

One of the few things Mitt Romney and Newt Gingrich agree on is that President Obama is turning America into “European-style welfare culture.”

In his standard stump speech Romney charges Obama with creating a nation of dependents. “Over the past three years Barack Obama has been replacing our merit-based society with an entitlement society.”

Gingrich calls Obama “the best food-stamp president in American history.”

What’s their evidence? Both rely on federal budget data showing direct payments to individuals shot up by almost $600 billion, a 32 percent increase, since the start of 2009.

They also point to Census data showing that 49 percent of Americans now live in homes where at least one person is collecting a federal benefit – Social Security, food stamps, unemployment insurance, worker’s compensation, or subsidized housing. That’s up from 44 percent in 2008.

Finally, they trumpet Social Security Administration figures showing that the number of people on Social Security disability jumped 10 percent in Obama’s first two years in office.

They argue our economic problems stem from this sharp rise in “dependency.” Get rid of these benefits and people will work harder.

They have cause and effect backwards. The reason for the rise in food stamps, unemployment insurance, and other safety-net programs is Americans got clobbered in 2008 with the worst economic catastrophe since the Great Depression. They and their families have needed whatever helping hands they could get.

If anything, America’s safety nets have been too small and shot through with holes. That’s why the number and percentage of Americans in poverty has increased dramatically over the past three years, including over a third of families with young children.

One scandal, for example, is that only 40 percent of the unemployed qualify for unemployment benefits because they weren’t working full time or long enough on a single job before they were canned. The unemployment system doesn’t take account of the fact that a large portion of the workforce typically works part time on several jobs, and moves from job to job.

Republicans also object to Obama’s health care law, which covers 30 million more Americans than were covered before. But it still leaves over 20 million without health insurance. They’ll get emergency care when they’re in dire straights — hospitals won’t refuse them — but we all end up paying indirectly.

Regressive Republicans pretend they’re about opportunity. In reality they’re back at what they’ve been doing for years — promoting Social Darwinism.
Go read his blog.

The manipulation of statistics to sell their Social Darwinism is utterly cynical. The political right knows that it is lying. It isn't naive. But it trusts in the big lie technique. They know that if they repeat their right wing lies long enough and through enough media, most people will assume it is true because the message is so prevalent.

I remember being incredulous when I matured and discovered that my father believed that if something was printed it had to be true. In his mind, nobody would go to the expense of printing something unless it was true. I could never change his mind. He proved to me just how effective a propaganda campaign could be. He lived a life believing falsehoods simply because "they were printed" and I could never change his mind because my arguments were "just words" and he refused to look at the printed material I presented to him. Propaganda can be very, very effective.

Tuesday, January 31, 2012

Looking Through Lovely Libertarian Glasses

When I was a kid the big complain was the bizarro world painted by "socialist realism". The hyped and deeply false world view sold by the commies.

Today the world is pervaded by its bizarro world version of reality, the kool-aid of Ayn Rand, that worships the individual and ignores any gummy social cohesion or social obligation. It is every man for himself in the wonder world of the political right. No mushy leftist "it takes a village to raise a child" in the libertarian worldview.

Here is a bit from a NY Times op-ed by Paul Krugman that shows the application of this libertarian "individualist realism" to politics in the US:
Mr. Daniels first berated the president for his “constant disparagement of people in business,” which happens to be a complete fabrication. Mr. Obama has never done anything of the sort. He went on: “The late Steve Jobs — what a fitting name he had — created more of them than all those stimulus dollars the president borrowed and blew.”

...

A big report in The Times last Sunday laid out the facts. Although Apple is now America’s biggest U.S. corporation as measured by market value, it employs only 43,000 people in the United States, a tenth as many as General Motors employed when it was the largest American firm.

Apple does, however, indirectly employ around 700,000 people in its various suppliers. Unfortunately, almost none of those people are in America.

...

Germany remains a highly successful exporter even with workers who cost, on average, $44 an hour — much more than the average cost of American workers. And this success has a lot to do with the support its small and medium-sized companies — the famed Mittelstand — provide to each other via shared suppliers and the maintenance of a skilled work force.

The point is that successful companies — or, at any rate, companies that make a large contribution to a nation’s economy — don’t exist in isolation. Prosperity depends on the synergy between companies, on the cluster, not the individual entrepreneur.

But the current Republican worldview has no room for such considerations. From the G.O.P.’s perspective, it’s all about the heroic entrepreneur, the John Galt, I mean Steve Jobs-type “job creator” who showers benefits on the rest of us and who must, of course, be rewarded with tax rates lower than those paid by many middle-class workers.

...

So we should be grateful to Mr. Daniels for his remarks Tuesday. He got his facts wrong, but he did, unintentionally, manage to highlight an important philosophical difference between the parties. One side believes that economies succeed solely thanks to heroic entrepreneurs; the other has nothing against entrepreneurs, but believes that entrepreneurs need a supportive environment, and that sometimes government has to help create or sustain that supportive environment.

And the view that it takes more than business heroes is the one that fits the facts.
For some reason most people want a cartoon cut-out version of reality. They want a simplified story that consoles them with a happy ending. The real world, just like Nature, is totally indifferent to humans, their aspirations, their needs, or their ideological fantasies. The real world is "red in tooth and claw" because it is so different from the normal human social world of cooperation and empathy. Humans have the ability to create a safe harbour from the cruelties of the world. Sadly, right wing nuts want to destroy the paradise and replace it with a fantasy of "the big man" who creates and destroys for his own pleasure with indifference to others. That is a cruel reality that is offered up by the libertarians as a "better future". Nuts!

Monday, January 30, 2012

Willful Ignorance

Here is a bit from a NY Times op-ed by Paul Krugman that slams what he calls "the serious people", the ideological right, that has called for austerity as the magic elixir for recovering from the worldwide George Bush-induced Depression:
How could the economy thrive when unemployment was already high, and government policies were directly reducing employment even further? Confidence! “I firmly believe,” declared Jean-Claude Trichet — at the time the president of the European Central Bank, and a strong advocate of the doctrine of expansionary austerity — “that in the current circumstances confidence-inspiring policies will foster and not hamper economic recovery, because confidence is the key factor today.”

Such invocations of the confidence fairy were never plausible; researchers at the International Monetary Fund and elsewhere quickly debunked the supposed evidence that spending cuts create jobs. Yet influential people on both sides of the Atlantic heaped praise on the prophets of austerity, Mr. Cameron in particular, because the doctrine of expansionary austerity dovetailed with their ideological agendas.

Thus in October 2010 David Broder, who virtually embodied conventional wisdom, praised Mr. Cameron for his boldness, and in particular for “brushing aside the warnings of economists that the sudden, severe medicine could cut short Britain’s economic recovery and throw the nation back into recession.” He then called on President Obama to “do a Cameron” and pursue “a radical rollback of the welfare state now.”

Strange to say, however, those warnings from economists proved all too accurate. And we’re quite fortunate that Mr. Obama did not, in fact, do a Cameron.

Which is not to say that all is well with U.S. policy. True, the federal government has avoided all-out austerity. But state and local governments, which must run more or less balanced budgets, have slashed spending and employment as federal aid runs out — and this has been a major drag on the overall economy. Without those spending cuts, we might already have been on the road to self-sustaining growth; as it is, recovery still hangs in the balance.

And we may get tipped in the wrong direction by Continental Europe, where austerity policies are having the same effect as in Britain, with many signs pointing to recession this year.

The infuriating thing about this tragedy is that it was completely unnecessary. Half a century ago, any economist — or for that matter any undergraduate who had read Paul Samuelson’s textbook “Economics” — could have told you that austerity in the face of depression was a very bad idea. But policy makers, pundits and, I’m sorry to say, many economists decided, largely for political reasons, to forget what they used to know. And millions of workers are paying the price for their willful amnesia.
The tragedy is that policy makers and right wing economists prefer lies and "the confidence fairy" more than the simple truth and hard won economic truths. The economics profession has shown itself to be in the hands of charlatans who are willing to corrupt truths won from the Great Depression experience in order to push a political agenda. Tragic!

As always it is the bottom 99% who die when the 1% "generals" order a charge into an open field where they are gunned down by withering machine gun fire (aka reality). But the generals blame the troops and order up another charge. The 99% are expendable. Everybody knows that the 1% are the "cream of society" and must be protected in their ideological bubble at all costs.

Saturday, December 31, 2011

DeLong on the Financial Sickness in America

The financial "industry" is a bloated, corrupt section of the economy that grows at the expense of everything else. Here is a bit from UC Berkeley economist Brad DeLong on the Project Syndicate blog:
In 1950, finance and insurance in the United States accounted for 2.8% of GDP, according to US Department of Commerce estimates. By 1960, that share had grown to 3.8% of GDP, and reached 6% of GDP in 1990. Today, it is 8.4% of GDP, and it is not shrinking. The Wall Street Journal’s Justin Lahart reports that the 2010 share was higher than the previous peak share in 2006.

...

But if the US were getting good value from the extra 5.6% of GDP that it is now spending on finance and insurance – the extra $750 billion diverted annually from paying people who make directly useful goods and provide directly useful services – it would be obvious in the statistics. At a typical 5% annual real interest rate for risky cash flows, diverting that large a share of resources away from goods and services directly useful this year is a good bargain only if it boosts overall annual economic growth by 0.3% – or 6% per 25-year generation.

There have been many shocks to the US economy over the past couple of generations, and many factors have added to or subtracted from economic growth. But it is not obvious that the US economy today would be 6% less productive if it had had the finance-insurance system of 1950 rather than the one that prevailed during the past 20 years.

There are five ways that an economy gains from a well-functioning finance-insurance system. First, people are no longer as vulnerable to the effects of fires, floods, medical disasters, unemployment, business collapses, sectoral shifts, and so forth, because a well-working finance-insurance system diversifies and thus dissipates some risks, and deals with others by matching those who fear risk with those who can comfortably bear it. While it might be true that America’s current finance-insurance system better distributes risk in some sense, it is hard to see how that could be the case, given the experience of investors in equities and housing over the past two decades.

Second, well-functioning financial systems match large, illiquid investment projects with the relatively small pools of money contributed by individual savers who value liquidity highly. There has been one important innovation over the past two generations: businesses can now issue high-yield bonds. But, given the costs of the bankruptcy process, it has never been clear why a business would rather issue high-yield bonds (besides gaming the tax system), or why investors would rather buy them than take an equity stake.

Third, improved opportunities to borrow allow one to spend more now, when one is poor, and save more later, when one is rich. Households are certainly much more able to borrow, thanks to home-equity loans, credit-card balances, and payday loans. But what are they really buying? Many are not buying the ability to spend when they are poor and save when they are rich, but instead appear to be buying postponement of the “unpleasant financial retrenchment” talk with the other members of their household. And that is not something you want to buy.

Fourth, we have seen major improvements in the ease of transactions. But, while electronic transactions have made a great deal of financial life much easier, this should have been accompanied by a decrease, not an increase, in the finance share of GDP, just as automated switching in telecommunications led to a decrease in the number of telephone switchboard operators per phone call. Indeed, the operations of those parts of the financial system most closely related to technological improvements have slimmed down markedly: consider what has happened to the checking operations of the regional Federal Reserve Banks.

Finally, better finance should mean better corporate governance. Since shareholder democracy does not provide effective control over entrenched, runaway, self-indulgent management, finance has a potentially powerful role to play in ensuring that corporate managers work in the interest of shareholders. And a substantial change has indeed occurred over the past two generations: CEOs focus much more attention than they used to on pleasing the stock market, and this is likely to be a good thing.

Overall, however, it remains disturbing that we do not see the obvious large benefits, at either the micro or macro level, in the US economy’s efficiency that would justify spending an extra 5.6% of GDP every year on finance and insurance. Lahart cites the conclusion of New York University’s Thomas Philippon that today’s US financial sector is outsized by two percentage points of GDP. And it is very possible that Philippon’s estimate of the size of the US financial sector’s hypertrophy is too small.

Why has the devotion of a great deal of skill and enterprise to finance and insurance sector not paid obvious economic dividends? There are two sustainable ways to make money in finance: find people with risks that need to be carried and match them with people with unused risk-bearing capacity, or find people with such risks and match them with people who are clueless but who have money. Are we sure that most of the growth in finance stems from a rising share of financial professionals who undertake the former rather than the latter?
This is a pretty astounding indictment of the sleaze, corruption, and fraud in America's financial industry that has let it grow huge despite providing no real benefits to justify its larger share of national GDP.

Sadly, no govenment has taken on this issue and tried to cut the financial industry down to size to make it more economically efficient. Exactly the opposite has occurred. Over the last 30 years great laudatory sermons have been given about "enterprise" and "unleashing business from regulation" when in fact this has proven to be catchwords for turning a blind eye to corruption and crime on an unimaginable scale. The American people have been hoodwinked and lied to and nobody has yet been held accountable because the rich and powerful have bought off the politiians.

Friday, December 30, 2011

An Indictment of Obama and Most Western Governments

Here is Paul Krugman in a NY Times op-ed laying bare the open secret: Obama and European governments are contemptuous of Keynes, rejecting his advise, and imperiling the tenuous "recovery" that countries have been experiencing by calling for "deficit reduction" which is just another name for austerity:
“The boom, not the slump, is the right time for austerity at the Treasury.” So declared John Maynard Keynes in 1937, even as F.D.R. was about to prove him right by trying to balance the budget too soon, sending the United States economy — which had been steadily recovering up to that point — into a severe recession. Slashing government spending in a depressed economy depresses the economy further; austerity should wait until a strong recovery is well under way.

Unfortunately, in late 2010 and early 2011, politicians and policy makers in much of the Western world believed that they knew better, that we should focus on deficits, not jobs, even though our economies had barely begun to recover from the slump that followed the financial crisis. And by acting on that anti-Keynesian belief, they ended up proving Keynes right all over again.

... the real test of Keynesian economics hasn’t come from the half-hearted efforts of the U.S. federal government to boost the economy, which were largely offset by cuts at the state and local levels. It has, instead, come from European nations like Greece and Ireland that had to impose savage fiscal austerity as a condition for receiving emergency loans — and have suffered Depression-level economic slumps, with real G.D.P. in both countries down by double digits.

This wasn’t supposed to happen, according to the ideology that dominates much of our political discourse. In March 2011, the Republican staff of Congress’s Joint Economic Committee released a report titled “Spend Less, Owe Less, Grow the Economy.” It ridiculed concerns that cutting spending in a slump would worsen that slump, arguing that spending cuts would improve consumer and business confidence, and that this might well lead to faster, not slower, growth.
Sadly a generation will pay the price for this obtuse ideological refusal to accept standard economics in favour if the idiocies of right wing economics that created the deregulation fiasco leading to the S&L crisis, the dot.com bust, and the 2008 financial crisis. These are the failures of government by right wing politicians who have sold the public on the idea that "government is not the solution to our problems; government is the problem". For 30 years bad ideas pushed by right wing politicians have enriched the ultra-rich while the bottom 99% have been left to tread water. Wealth has increased but "trickle down" economics delivered nothing to the poor who are poorer now than since the Great Depression when the lot of the poor was to live in Hoovervilles and stand in bread lines.

The common people need to rise up and say "enough!" and vote in politicians who want to grow the economy for the benefit of the 99% and who want to see a profound redistribution of income so that those who work hard in the 99% get the kind of rewards that for the last 30+ years have only flowed to the ultra-rich. Stop the privatization of government for the bottom 99% with the cutting of services and the raising of "hidden" taxes. Stop the socialization of government for the top 1% with the quiet fraud that lets the rich milk the poor, demand and get sweetheart deals from government, and the continued policy of handouts and bailouts and tax cuts and special tax loop holes for those who can buy government via lobbyists.

Krugman perfectly characterizes the failures of politics today:
We entered 2011 amid dire warnings about a Greek-style debt crisis that would happen as soon as the Federal Reserve stopped buying bonds, or the rating agencies ended our triple-A status, or the superdupercommittee failed to reach a deal, or something. But the Fed ended its bond-purchase program in June; Standard & Poor’s downgraded America in August; the supercommittee deadlocked in November; and U.S. borrowing costs just kept falling. In fact, at this point, inflation-protected U.S. bonds pay negative interest: investors are willing to pay America to hold their money.

The bottom line is that 2011 was a year in which our political elite obsessed over short-term deficits that aren’t actually a problem and, in the process, made the real problem — a depressed economy and mass unemployment — worse.
For three years the political right has been screaming "inflation" and called for austerity to stop the devaluation of "fiat money". In truth, there has been no runaway inflation despite the trillions that the Federal Reserve has pumped into the monetary system.

Keynes called for a coordinated fight on both the monetary and fiscal fronts to fight depression. But since 2008 there has been only a monetary policy in place that is now being withdrawn and there was a very, very small fiscal policy with Obama's 2009 stimulus package. The tools that Keynes outlined have not been used. That is why the Great Recession continues to plague the United States.

Wednesday, December 28, 2011

Thinking about Debt

Here is a key bit from a post by Paul Krugman on his NY Times blog:
People think of debt’s role in the economy as if it were the same as what debt means for an individual: there’s a lot of money you have to pay to someone else. But that’s all wrong; the debt we create is basically money we owe to ourselves, and the burden it imposes does not involve a real transfer of resources.

That’s not to say that high debt can’t cause problems — it certainly can. But these are problems of distribution and incentives, not the burden of debt as is commonly understood. And as Dean says, talking about leaving a burden to our children is especially nonsensical; what we are leaving behind is promises that some of our children will pay money to other children, which is a very different kettle of fish.
The political right has made a career out of packaging up bad politics as reasonable sounding phrases which don't hold up to scrutiny:
  • running government is just like running a business, so the country needs a CEO not a politician

  • government is not the solution, government is the problem

  • the need to put "God back into the nation's schools", and they don't mean the loving Jesus, or Krishna, Odin, or Moloch, they know that God is that white haired old man sitting on a throne up there in the air somewhere, the avenger of the Old Testament, the guy who is the fixer of the political right

  • what America needs is "family values" as laid down by the womanizing, sex-crazed, power hungry politicians of the political right who find time to sit in Congress between screwing their secretaries and divorcing the wives and refusing to pay child support

  • get government off our backs by bringing back Joe McCarthy with his demand of "loyalty oaths", or Goldwater with his decision to bomb Vietnam back to the Stone Age with nukes, or Reagan who wanted to stop the limousine liberals from giving money to welfare queens by putting up layer after layer of bureaucratic restriction of aiding the poor while ranting that the problem with government was that it needed to "cut regulations", or the 2000 George Bush who ranted that government had to get out of the business of "nation building" and then he started a couple of trillion dollar wars to bring "democarcy" and "good government" to Afghanistan and Iraq
Debt as a public policy is something that the economists understand but which gets twisted and distorted by right wing politicians into a lie on the same level as the 50 year lie that the United Nations was a front for Communism and that the US should "get out of the UN".

Thursday, December 22, 2011

The Sleaze that Passes for Politics in America

Here are some bits from a NY Times op-ed by Paul Krugman exposing the cynical manipulation of truth by Republicans, Romney in particular:
Suppose that President Obama were to say the following: “Mitt Romney believes that corporations are people, and he believes that only corporations and the wealthy should have any rights. He wants to reduce middle-class Americans to serfs, forced to accept whatever wages corporations choose to pay, no matter how low.”

How would this statement be received? I believe, and hope, that it would be almost universally condemned, by liberals as well as conservatives. Mr. Romney did once say that corporations are people, but he didn’t mean it literally; he supports policies that would be good for corporations and the wealthy and bad for the middle class, but that’s a long way from saying that he wants to introduce feudalism.

But now consider what Mr. Romney actually said on Tuesday: “President Obama believes that government should create equal outcomes. In an entitlement society, everyone receives the same or similar rewards, regardless of education, effort, and willingness to take risk. That which is earned by some is redistributed to the others.”

And in an interview the same day, Mr. Romney declared that the president “is going to put free enterprise on trial.”

This is every bit as bad as my imaginary Obama statement. Mr. Obama has never said anything suggesting that he holds such views, and, in fact, he goes out of his way to praise free enterprise and say that there’s nothing wrong with getting rich. His actual policy proposals do involve a rise in taxes on high-income Americans, but only back to their levels of the 1990s. And no matter how much the former Massachusetts governor may deny it, the Affordable Care Act established a national health system essentially identical to the one he himself established at a state level in 2006.

Over all, Mr. Obama’s positions on economic policy resemble those that moderate Republicans used to espouse. Yet Mr. Romney portrays the president as the second coming of Fidel Castro and seems confident that he will pay no price for making stuff up.

Welcome to post-truth politics.

...

So here’s my forecast for next year: If Mr. Romney is in fact the Republican presidential nominee, he will make wildly false claims about Mr. Obama and, occasionally, get some flack for doing so. But news organizations will compensate by treating it as a comparable offense when, say, the president misstates the income share of the top 1 percent by a percentage point or two.

The end result will be no real penalty for running an utterly fraudulent campaign. As I said, welcome to post-truth politics.
If there were any justice in the world, this farce that passes for politics would quickly lead to the complete collapse of America. Instead, the Republicans have been pulling this fraud for 30+ years and the only penalty has been a slow decay within America and a slow collapse of their economy. And the electorate continues like sheep to the slaughter. They don't complain. They keep electing these liars to positions of power, to positions that let them enrich the top 1% at the expense of the bottom 99%.

Tuesday, December 20, 2011

The Civil War That Won't End

Here is a bit from a post by Robert Reich looking at the bizarre behaviour of America's Republican party:
Two weeks before the Iowa caucuses, the Republican crackup threatens the future of the Grand Old Party more profoundly than at any time since the GOP’s eclipse in 1932. That’s bad for America.

The crackup isn’t just Romney the smooth versus Gingrich the bomb-thrower.

Not just House Republicans who just scotched the deal to continue payroll tax relief and extended unemployment insurance benefits beyond the end of the year, versus Senate Republicans who voted overwhelmingly for it.

Not just Speaker John Boehner, who keeps making agreements he can’t keep, versus Majority Leader Eric Cantor, who keeps making trouble he can’t control.

And not just venerable Republican senators like Indiana’s Richard Lugar, a giant of foreign policy for more than three decades, versus primary challenger state treasurer Richard Mourdock, who apparently misplaced and then rediscovered $320 million in state tax revenues.

Some describe the underlying conflict as Tea Partiers versus the Republican establishment. But this just begs the question of who the Tea Partiers really are and where they came from.

The underlying conflict lies deep into the nature and structure of the Republican Party. And its roots are very old.

As Michael Lind has noted, today’s Tea Party is less an ideological movement than the latest incarnation of an angry white minority – predominantly Southern, and mainly rural – that has repeatedly attacked American democracy in order to get its way.

It’s no mere coincidence that the states responsible for putting the most Tea Party representatives in the House are all former members of the Confederacy. Of the Tea Party caucus, twelve hail from Texas, seven from Florida, five from Louisiana, and five from Georgia, and three each from South Carolina, Tennessee, and border-state Missouri.

Others are from border states with significant Southern populations and Southern ties. The four Californians in the caucus are from the inland part of the state or Orange County, whose political culture has was shaped by Oklahomans and Southerners who migrated there during the Great Depression.

This isn’t to say all Tea Partiers are white, Southern or rural Republicans – only that these characteristics define the epicenter of Tea Party Land.
The Germans let militarists lead them into war after war that led to defeat until Hitler iced the cake with a war to end all wars for the Germans. Hitler left a scorched earth German. Is the Republican party working hard to achieve the same in the United States?

Monday, December 12, 2011

Republican Politics

I love the scorched earth warfare that has broken out between the Republican presidential contenders. Here is a bit from a post by Robert Reich on his blog:
Remarkably, the frontrunners for the Republican nomination for president seem to agree. At least, that’s the clear implication from what they’ve said today.

During a morning appearance on Fox News, Mitt Romney said Newt Gingrich should return the $1.6 million in payments he received from mortgage financial giant Freddy Mac.

Gingrich has tried to defend himself by saying Freddy paid him as a “historian,” but anyone with half a brain knows Freddy wasn’t interested in history. It coughed up the money because they wanted Newt to influence his former House colleagues, so they wouldn’t take steps to reduce Freddy’s financial risk or reach.

In effect, Romney is taking a swipe not only at Gingrich but at the well-oiled revolving door linking financial giants to former congressional leaders, Treasury officials, and their staffs. That revolving door is one of the reasons the Street and its auxiliaries (like Fannie and Freddie) took the risks that caused the financial crisis, and have still never paid the price.

What’s Gingrich’s response? He said this morning ”if Governor Romney would like to give back all the money he’s earned from bankrupting companies and laying off employees over his years at Bain than I would be glad to then listen to him.”

Newt is criticizing not only Romney but also the pump and dump practices of Wall Street that have caused hundreds of thousands of Americans to lose their jobs, put countless companies in jeopardy, and earned a fortune for private-equity managers and others.

If this goes on much longer, the Mitt and Newt Show will get a slot on MSNBC.
Hopefully this trench warfare between the behemoths will let the rank-and-file Republicans come to realize that they have been sold a bill of goods by their leaders, that their conservative "principles" are no more than a sellout to ultra-rich interests and have nothing to do with classic conservative politics. I can respect true conservatism, but I utterly loathe the deceitful misrepresentation of "principle" by all the political leaders of the current Republican party.

Failure at the Top and Failing to Admit It

Paul Krugman nails the incompetence of the political right with its continued misdiagnosis of the economy and the ever continuing attempt to administer noxious nostrums to "fix" the economy. From his NY Times blog:
Hmm. I was looking at the Thomson Reuters/Jefferies commodity price index, which has been trending down since the spring:

Click to Enlarge

And I found myself thinking about the hearing last February in which Paul Ryan accused Ben Bernanke of debasing the currency, using rising commodity prices to argue that dangerous inflation lurked just around the corner.

So, will Ryan demand more expansionary policies from the Fed given the sharp fall in commodity prices this year?

Truly, it is amazing how our political landscape continues to be dominated by people who have been wrong about everything for years.
There will never be an admission from the political right that they are wrong. Just as the political right plotted and maneuvered during the 1930s to "fix" the ailing Germany politics and economics, the present day right is painting us into a corner. Read Krugman's NY Times op-ed to understand the implications of these failings.

Saturday, December 10, 2011

A Rationalist in an Irrational World

Here is poor Paul Krugman taking on his enemies one more time. Sadly, they don't want to listen. Politics in the US is a dialog of the deaf:
Why did I criticize Bush’s deficit-increasing policies, then call for more deficit-increasing policies from Obama?

Part of the answer is the difference in economic conditions. Deficit spending is expansionary when the economy is in a liquidity trap; it does nothing but crowd out other spending when you’re not up against the zero lower bound, and the Fed will just raise rates to offset fiscal expansion.

The other part of the answer is that although the Bushies were happy to use Keynesian arguments to justify their tax cuts, those cuts were all designed to be permanent — that is, they were irresponsible precisely because they weren’t temporary. None of what Obama has done commits that sin: his long-term spending, basically on health reform, is paid for, and everything else, like aid to state and local governments or expansion of unemployment benefits, was both designed to be temporary and has proved temporary in reality.

Ah well — just another day in political Bizzaroworld.

Monday, December 5, 2011

Hoisting the Republicans on their Own Petard

Here is an excellent post by Robert Reich on his blog. I love the way he carefully lays out the logic so that when you arrive at the last sentence you realize that he has cornered the Republicans by their own screwy logic:
Every time I try to make sense of Republican tax doctrine I get lost.

For example, rank-and-file House Republicans are willing to increase taxes on the middle class starting in a few weeks in order to avoid a tax increase the very rich.

Here are the details: The payroll tax will increase 2 percent starting January 1 – costing most working Americans about $1,000 next year – unless the employee part of the tax cut is extended for another year.

Democrats want to pay for this with a temporary – not permanent – surtax on any earnings over $1 million, according to their most recent proposal. The surtax would be 3.25 percent.

This means someone who earns $1,000,001 would pay 3 and a quarter cents extra next year.

Relatively few Americans earn more than a million dollars, to begin with. An exquisitely tiny number earn so much that a 3.25 percent surtax on their earnings in excess of a million would amount to much. Most of these people are on Wall Street. It’s hard to find a small business “job creator” among them.

Nonetheless, Republicans say no to the surtax.

This puts Republicans in the awkward position of allowing taxes to increase on most Americans in order to avoid a small, temporary tax only on earnings in excess of a million dollars — mostly hitting a tiny group of financiers.

Not even a resolute, doctrinaire follower of GOP president Grover Norquist has any basis for preferring millionaires over the rest of us.

To say the least, this position is also difficult to explain to average Americans flattened by an economy that’s taken away their jobs, wages, and homes but continues to confer record profits to corporations and unprecedented pay to CEOs and Wall Street’s top executives.

So Republican leaders are trying to get rank-and-file Republicans to go along with an extended payroll tax holiday — but by paying for it without raising taxes on the very rich.

According to their latest proposal, they want to pay for it mainly by extending the pay freeze on federal workers for another four years — in effect, cutting federal employees’ pay even more deeply — and increasing Medicare premiums on wealthy beneficiaries over time.

But even this proposal seems odd, given what Republicans say they believe about taxes.

For years, Republicans have been telling us tax cuts pay for themselves by promoting growth. That was their argument in favor of the Bush tax cuts, remember?

So if they believe what they say, why should they worry about paying for a one-year extension of the payroll tax holiday? Surely it will pay for itself.
That last bit should make Republicans squirm. But it won't. They are shameless hypocrites and liars. Being caught in their big lie causes them no shame.

Saturday, December 3, 2011

Dowd Nails Newt Gingrich

Here is a bit from a NY Times opinion piece by Maureen Dowd:
Newt Gingrich’s mind is in love with itself.

It has persuaded itself that it is brilliant when it is merely promiscuous. This is not a serious mind. Gingrich is not, to put it mildly, a systematic thinker.

His mind is a jumble, an amateurish mess lacking impulse control. He plays air guitar with ideas, producing air ideas. He ejaculates concepts, notions and theories that are as inconsistent as his behavior.

He didn’t get whiplash being a serial adulterer while impeaching another serial adulterer, a lobbyist for Freddie Mac while attacking Freddie Mac, a self-professed fiscal conservative with a whopping Tiffany’s credit line, and an anti-Communist Army brat who supported the Vietnam War but dodged it.

...

He warned against political pressures encouraging “Black xenophobia.” What’s xenophobic about Africans wanting their oppressors to go away? It’s like saying abused wives who want their husbands to leave are anti-men.

...

Newt is like the Great White Hunter out on campaign safari, trying to bag a Mitt, an animal with ever-changing stripes. Certainly, the 68-year-old’s haughty suggestions on child labor last week in Iowa smacked of harsh paternalism and exploitation.

He expanded on Dickensian remarks he’d made recently at Harvard, where he said “it is tragic what we do in the poorest neighborhoods, entrapping children in child laws which are truly stupid,” adding that 9-year-olds could work as school janitors.

“Really poor children in really poor neighborhoods have no habits of working and have nobody around them who works,” he asserted in an ignorant barrage of stereotypes in Des Moines. “So they literally have no habit of showing up on Monday.”

Has he not heard of the working poor? The problem isn’t that these kids aren’t working; it’s that they don’t have time with their parents, who often toil day and night, at more than one job, and earn next to nothing.

Newt’s the kind of person whom child labor laws were created to curb. He sounds like a benign despot with a colonial subtext: Until I bring you the benefits of civilization, we will regard you as savages.

He’s Belgium. The poor are Congo.
The joke is that Newt passes for an "intellectual" in the Republican party. Tragic.

Thursday, December 1, 2011

A Regressive Vision for America

Robert Reich has spelled out the "compelling" vision that the Republicans have for America in a post on his blog. Here is the key bit:
What kind of society, exactly, do modern Republicans want? I’ve been listening to Republican candidates in an effort to discern an overall philosophy, a broadly-shared vision, an ideal picture of America.

They say they want a smaller government but that can’t be it. Most seek a larger national defense and more muscular homeland security. Almost all want to widen the government’s powers of search and surveillance inside the United States – eradicating possible terrorists, expunging undocumented immigrants, “securing” the nation’s borders. They want stiffer criminal sentences, including broader application of the death penalty. Many also want government to intrude on the most intimate aspects of private life.

They call themselves conservatives but that’s not it, either. They don’t want to conserve what we now have. They’d rather take the country backwards – before the 1960s and 1970s, and the Environmental Protection Act, Medicare, and Medicaid; before the New Deal, and its provision for Social Security, unemployment insurance, the forty-hour workweek, laws against child labor, and official recognition of trade unions; even before the Progressive Era, and the first national income tax, antitrust laws, and Federal Reserve.

They’re not conservatives. They’re regressives. And the America they seek is the one we had in the Gilded Age of the late nineteenth century.

It was an era when the nation was mesmerized by the doctrine of free enterprise, but few Americans actually enjoyed much freedom. Robber barons like the financier Jay Gould, the railroad magnate Cornelius Vanderbilt, and the oil tycoon John D. Rockefeller, controlled much of American industry; the gap between rich and poor had turned into a chasm; urban slums festered; children worked long hours in factories; women couldn’t vote and black Americans were subject to Jim Crow; and the lackeys of rich literally deposited sacks of money on desks of pliant legislators.

Most tellingly, it was a time when the ideas of William Graham Sumner, a professor of political and social science at Yale, dominated American social thought. Sumner brought Charles Darwin to America and twisted him into a theory to fit the times.

Few Americans living today have read any of Sumner’s writings but they had an electrifying effect on America during the last three decades of the 19th century.

To Sumner and his followers, life was a competitive struggle in which only the fittest could survive – and through this struggle societies became stronger over time. A correlate of this principle was that government should do little or nothing to help those in need because that would interfere with natural selection.

Listen to today’s Republican debates and you hear a continuous regurgitation of Sumner. “Civilization has a simple choice,” Sumner wrote in the 1880s. It’s either “liberty, inequality, survival of the fittest,” or “not-liberty, equality, survival of the unfittest. The former carries society forward and favors all its best members; the latter carries society downwards and favors all its worst members.”

Sound familiar?

Newt Gingrich not only echoes Sumner’s thoughts but mimics Sumner’s reputed arrogance. Gingrich says we must reward “entrepreneurs” (by which he means anyone who has made a pile of money) and warns us not to “coddle” people in need. He calls laws against child labor “truly stupid,” and says poor kids should serve as janitors in their schools. He opposes extending unemployment insurance because, he says, ”I’m opposed to giving people money for doing nothing.”

Sumner, likewise, warned against handouts to people he termed “negligent, shiftless, inefficient, silly, and imprudent.”
Just like the McCarthy Era was a big step into the past and the Nixon "secret peace plan" for Vietnam was a step back, the Republicans have yet again come up with a right wing political vision for America that is indistinguishable from a nightmare.

American Right Wing Politics

Here is a nice summary of the Republican "offerings" for a presidential candidate. This is from Maureen Dowd's op-ed in the NY Times:
Mitt Romney is a phony with gobs of hair gel. Newt Gingrich is a phony with gobs of historical grandiosity.

The 68-year-old has compared himself to Charles de Gaulle. He has noted nonchalantly: “People like me are what stand between us and Auschwitz.” As speaker, he liked to tell reporters he was a World Historical Transformational Figure.

What does it say about the cuckoo G.O.P. primary that Gingrich is the hot new thing? Still, his moment is now. And therein lies the rub.

As one commentator astutely noted, Gingrich is a historian and a futurist who can’t seem to handle the present. He has more exploding cigars in his pocket than the president with whom he had the volatile bromance: Bill Clinton.

But next to Romney, Gingrich seems authentic. Next to Herman Cain, Gingrich seems faithful. Next to Jon Huntsman, Gingrich seems conservative. Next to Michele Bachmann and Rick Perry, Gingrich actually does look like an intellectual. Unlike the governor of Texas, he surely knows the voting age. To paraphrase Raymond Chandler, if brains were elastic, Perry wouldn’t have enough to make suspenders for a parakeet.

...

Romney is a mundane opportunist who reverses himself on core issues. Gingrich is a megalomaniacal opportunist who brazenly indulges in the same sins that he rails about to tear down political rivals.

Republicans have a far greater talent for hypocrisy than easily cowed Democrats do — and no doubt appreciate that in a leader.

Gingrich led the putsch against Democratic Speaker Jim Wright in 1988, bludgeoning him for an ethically sketchy book deal. The following year, as he moved into the House Republican leadership, he himself got in trouble for an ethically sketchy book deal.

Gingrich was part of the House Republican mob trying to impeach Bill Clinton for hiding his affair with a young government staffer, even as Newt himself was hiding his affair with a young government staffer.

Gingrich has excoriated Freddie Mac and Fannie Mae for dragging the country into a financial spiral and now demands that Freddie Mac be broken up. But it turns out that he was on contract with Freddie for six years and paid $1.6 million to $1.8 million (yacht trips and Tiffany’s bling for everyone!) to help the company strategize about how to soften up critical conservatives and stay alive.

At a Republican debate in New Hampshire last month before this lucrative deal became public, Gingrich suggested that Barney Frank and Chris Dodd should be put in jail. “All I’m saying is, everybody in the media who wants to go after the business community ought to start by going after the politicians who were at the heart of the sickness that is weakening this country,” he said.

Another transcendent moment in Gingrich hypocrisy. He risibly rationalized his deal, saying he was giving the mortgage company advice as a prestigious historian rather than a hired gun.
Maureen Dowd is a national treasure. She is like the third umpire in the old joke:
There was an argument between three baseball umpires. The first umpire said "I call 'em as I see 'em". "Ha," said the second umpire, "I call 'em as they are!" "They ain't nothing until I call 'em," said the third umpire.

Friday, November 25, 2011

The World Still Turns

Fanatics think that when they perceive an on-coming "doomsday" that they should have the right to pass laws to make everybody march to their beat. The "global warming" crowd feels they should dictate who gets to burn fossil fuel, by how much, and where. But the real world views that as fanatics imposing their wild-eyed craziness on the rest of the world. So the push by the fanatics to legislate morality (pass IPCC restrictions and quotas) has failed.

So how are we doing in the real world? Surprise! The real world is quickly moving toward renewable energy without the use of the Spanish Inquisition or the Iron Maiden of quotas and restrictions. Here is a bit from an article in the Los Angeles Times:
Renewable energy is surpassing fossil fuels for the first time in new power-plant investments, shaking off setbacks from the financial crisis and an impasse at the United Nations global warming talks.

Electricity from the wind, sun, waves and biomass drew $187 billion last year compared with $157 billion for natural gas, oil and coal, according to calculations by Bloomberg New Energy Finance using the latest data. Accelerating installations of solar- and wind-power plants led to lower equipment prices, making clean energy more competitive with coal.

"The progress of renewables has been nothing short of remarkable," United Nations Environment Program Executive Secretary Achim Steiner said in an interview. "You have record investment in the midst of an economic and financial crisis."

The findings indicate the world is shifting toward consuming more renewable energy even without a global agreement on limiting greenhouse gases.

...

As well as renewables spending exceeding that on new fossil plants, last year also was the first time expenditure in developing countries, mainly China, exceeded that in the industrialized world, Sawyer said, predicting both trends will continue.

The New Energy Finance figures exclude investment that merely replaces existing plants, and its renewables tally excludes money spent on building large hydropower projects.

Wind operators are likely to install 43 gigawatts of generating capacity this year and 48 gigawatts next year, up from 36 gigawatts in 2010, GWEC estimates.
I know this disappoints the doomsters selling the snake oil of catastrophic "global warming". But in the real world, technology improves and people make choices that make their world a better place. You don't have to beat them with whips or force them into chains. The ideologues prefer to reduce people to mindless soulless automata who simply follow orders from the politically correct. But in the real world, people like the idea that they get to choose their future and that they get credit for making intelligent choices.

Sunday, November 20, 2011

Krugman on the New Romanticism

The Romantic movement of the early 19th century created a lot of poetry, art, and "new sensitive feelings". But by the late 1930s that romanticism had corrupted itself in to the cruel "romantic" vision of the Nazis.

Here is a bit from a NY Times op-ed piece in which Paul Krugman takes the "new romantics" to task for the cruelties they are forcing upon the poor and powerless:
There’s a word I keep hearing lately: “technocrat.” Sometimes it’s used as a term of scorn — the creators of the euro, we’re told, were technocrats who failed to take human and cultural factors into account. Sometimes it’s a term of praise: the newly installed prime ministers of Greece and Italy are described as technocrats who will rise above politics and do what needs to be done.

I call foul. I know from technocrats; sometimes I even play one myself. And these people — the people who bullied Europe into adopting a common currency, the people who are bullying both Europe and the United States into austerity — aren’t technocrats. They are, instead, deeply impractical romantics.

They are, to be sure, a peculiarly boring breed of romantic, speaking in turgid prose rather than poetry. And the things they demand on behalf of their romantic visions are often cruel, involving huge sacrifices from ordinary workers and families. But the fact remains that those visions are driven by dreams about the way things should be rather than by a cool assessment of the way things really are.

And to save the world economy we must topple these dangerous romantics from their pedestals.
For more details, go read the full article.

The powerless and poor are always the ones made to pay for the "visions" of lunatics and mad kings:
So why did those “technocrats” push so hard for the euro, disregarding many warnings from economists? Partly it was the dream of European unification, which the Continent’s elite found so alluring that its members waved away practical objections. And partly it was a leap of economic faith, the hope — driven by the will to believe, despite vast evidence to the contrary — that everything would work out as long as nations practiced the Victorian virtues of price stability and fiscal prudence.

Sad to say, things did not work out as promised. But rather than adjusting to reality, those supposed technocrats just doubled down — insisting, for example, that Greece could avoid default through savage austerity, when anyone who actually did the math knew better.

...

Just to be clear, this is not an anti-European rant, since we have our own pseudo-technocrats warping the policy debate. In particular, allegedly nonpartisan groups of “experts” — the Committee for a Responsible Federal Budget, the Concord Coalition, and so on — have been all too successful at hijacking the economic policy debate, shifting its focus from jobs to deficits.

Real technocrats would have asked why this makes sense at a time when the unemployment rate is 9 percent and the interest rate on U.S. debt is only 2 percent. But like the E.C.B., our fiscal scolds have their story about what’s important, and they’re sticking to it no matter what the data say.

So am I against technocrats? Not at all. I like technocrats — technocrats are friends of mine. And we need technical expertise to deal with our economic woes.

But our discourse is being badly distorted by ideologues and wishful thinkers — boring, cruel romantics — pretending to be technocrats. And it’s time to puncture their pretensions.
History is a long litany of the poor and disenfranchised having to pick up the pieces after the mad elites have utterly ruined a country through war or mad schemes. The ultra-rich don't suffer. They simply move to the "next opportunity". It is the poor and powerless who are rooted to their soil and have the burden of reconstructing a society after a disaster. Think of Germany in 1945. Think of the American Deep South in 1866. And think of the children and grandchildren of the current generation of Americans. Tragic.

Monday, November 14, 2011

The US's Energy "Policy" is to Cut Off Its Oil Supply

Here is a bit from an article on the blog Watts Up With That? which points out the idiocy of the US energy "policy", i.e. cutting off its supply in order to "save the Earth"...
We told you ... how pointless and futile the McKibben driven 350.org protests about the XL pipeline were, because they did nothing to alter the fact that the oil would still be used, somewhere. See The Only Choice Is Where It Gets Burned

I mentioned in an essay Friday that:
Dr. Christy ended his essay with the title of this post saying “Don’t demonize energy, because without energy, life is brutal and short”….I thought those were good words to consider, especially since we have activist maniacs like weepy Bill McKibben out to demonize energy on a daily basis. McKibben and his followers, not possessing the intelligence to fully understand what they are doing, think “they won“.

Bottom line: that tar sands oil is going to be burned somewhere, in other countries willing to buy it. Stopping a pipeline has no effect on Canada’s export of the oil, only on American jobs, but McKibben and his 350.org is cluelessly ecstatic over this.
Looks like we were right, only one day later, Canada looks to sell the tar sands oil to China. From Energy Daily:
Canadian Prime Minister Stephen Harper said Sunday that he was looking at exporting more oil to China after the United States delayed a decision on a controversial pipeline.

The conservative Canadian leader, taking part in a summit in Hawaii hosted by Obama said the pipeline decision had produced “extremely negative reactions” and that he discussed oil exports with Chinese President Hu Jintao.

“This does underscore the necessity of Canada making sure that we are able to access Asian markets for our energy products,” Harper told reporters. “I indicated that yesterday (Saturday) to President Hu of China.”
Full story at Energy Daily.
I'm a conservationist, but a sensible one. These fanatics who cut their own throat are ridiculous. (I should qualify: these Pied Pipers sell "enviro" to the poor suckers who will live with the consequences while the "leaders" are rich and can buy their way out of the disaster they create.)

In the real world, the US needs oil. If it doesn't get it from Canada, then Canada will sell it where its is wanted and then the US will be locked out and have to get the oil from less secure areas which means that 1970s long line-ups for gasoline will return. That isn't a policy. That is political suicide brought on by following idiots who don't understand real "environmentalism". A serious environmentalist realizes that energy is essential for a sound economy and would be working to conserve and develop new technology, not cut supply. Conserve is like cutting down on carbs to get in trim shape. Cutting supply is like being stranded on a very small desert island with no food. You starve.

It has always bugged me that these phony "enviro" nuts want to cut GDP. Their fanatical policy wouldn't hurt them because they are rich and can buy what they need, and even if the society crashed because of the idiot policy, they would simply use their money to move to an unaffected part of the world. These people are selling the same kind of "Kool-Aid" that 1960s "back to the land" people sold. The rich kids, when they got tired, went back to their rich parents, got money, got back into school, or had their parents line them up with a job in the family business. Meanwhile those fools in the bottom 90% that followed the Pied Pipers of the 1960s into "back to the land" ended up living hard lives in urban inner cities or were marooned in desperately poor rural areas. Their lives were ruined by the lies of the "back to the land" sirens.

Sunday, November 13, 2011

The Depth of the US Housing Depression

Here are some facts from a story in Vegas Inc:
“In less than four years, more than 100,000 homes in Las Vegas have been lost through foreclosure. That’s 18 percent of our privately owned housing stock: that’s nearly one home in five. And we’re nowhere near finished with foreclosures. In all likelihood, we have another 100,000 yet to go, and at the current rate, that’s another four years,” Murphy said.
And this has hit house prices hard. Just in the last year:
In a market hit by high unemployment (13.6 percent) and an elevated foreclosure rate, the Realtors said the median price of single-family homes sold in October was $121,000. That’s down 1.9 percent from $123,400 in September and down 9 percent from $133,000 a year ago.
From the Calculated Risk site, the price of homes in Las Vegas is down 60% since the beginning of 2007:

Click to Enlarge

What is tragic is that the Republicans caused this Great Recession during the Bush administration and are doing everything they can to make it worse in order to win in 2012. And the salt in the wound is that Barack Obama had a chance to come in and really push hard to save Main Street after the failure of Wall Street, but he played "political games" and undersized the stimulus in early 2009 and then claimed it was "just right" in size when it was clearly too small and dithered for two and a half years before he got serious about attacking unemployment and the crushed economy... just in time to win another 4 years for his "do nothing" administration. Tragic.

Saturday, November 12, 2011

Anti-Science is Alive and Well

People prefer to "believe". They don't like slow and painful study and rational thinking, calculation, experimentation, theory building aka "science". That requires 20 years of education and only really dedicated and really smart people can access the edges of science these days. That sidelines the masses and they don't like that one bit.

So people believe in magic. They believe in "spirit" and "soul" and the "power of positive thinking". They believe in "holistic medicine". They have their religions.

I worked in a high tech company and was appalled to discover that even people with PhDs in science believed in such madness as "homeopathy". These were smart people, well educated people who had worked hard to understand technology and science and yet they gave in to magical thinking.

Here's what magical thinking will "achieve". From Yahoo! News:
Five share $340,000 in holistic healer case that left woman a quadriplegic

The Canadian Press – Fri, 11 Nov, 2011

RICHMOND, B.C. - Five B.C. residents, including a woman nearly killed by arsenic poisoning and left a quadriplegic, are sharing more than $340,000 as a result of a settlement involving a self-proclaimed holistic healer.

Money from the settlement came from property seized from the defendant and sold under the B.C. government's civil forfeiture legislation.

The government says the defendant, Selena Tsui, was not charged in the case after the Crown concluded there was no substantial likelihood of conviction on any criminal charges.

The government says between 2000 and 2004, Tsui told at least a dozen people she was qualified to diagnose and treat diseases, including mental conditions, when in fact she had no formal training.

One of her clients, identified only as E.L., began taking a concoction she believed contained mushrooms and herbs, but had extreme arsenic levels, and she suffered respiratory and renal failure, cardiac arrest and paralysis.

She was taken to hospital, put on life support and given a five per cent chance of survival, but her life was eventually saved.
The real world is complicated. It isn't a simple morality story. It isn't something that "a good heart" and a "strong will" can conquer. It requires hard work, sophisticated technology, advanced math, and a long education in a specialist area of science. But people love quacks with no training yet who have an "aura" about them, or can "channel spirits", or have a commanding presence and claim a direct line to "God".

Right now, Europe and the United States are in the hands of quacks. Serious economists know that austerity budgets only prolong a depression. A Keynesian approach is needed. But Obama and the European leaders would rather call in the witch doctor to shake bones over the economy and prattle some debt reduction "confidence building" mumbo jumbo rather than rely on the math, the models, and the sophisticated economic theories (the ones prior to the Chicago school and "freshwater" economists turned into lunatics and ran economics off the rails).

It is tragic living in a world where some plague is raging and the scientists and the doctors have the technology to manipulate DNA to create a vaccine to cure it, but the "authorities" (political, religious, civic, etc.) all cry out for "prayer" and "abstinence" and "a submission to God's will" or some "alternative medicine" rather than to science to cure the plague.

We live in a dark time. Carl Sagan wrote a book in 1995 before he died in which he worried about this modern anti-science trend. The book was called The Demon-Haunted World. We live in that magical thinking, irrational, and anti-science world. Millions die every year because of this stupidity. That is what people who want "quick solutions" have created by preferring magical thinking to the difficult path of rationalism and science. Tragic.