
14 May 2011
Stephen Colbert To FEC: I Don't Want To Be The 'Chump' Without Unlimited Corporate Cash
13 May 2011
In the house of R'lyeh, dead Cthulhu waits dreaming

. . . a thing which was little more than a protoplasmic mass, from the body of which tentacles of every length and thickness flailed forth, from the head of which, constantly altering shape from an amorphous bulge to a simulacrum of a man's head, a single malevolent eye appeared.
08 May 2011
Remembering Chris Hondros

07 May 2011
Justice delayed

02 May 2011
No comment necessary

Now that Obama has eliminated the monster Usama Bin Laden and vindicated the capability of the United States to visit retribution on its dire enemies, he can do one other great good for this country abroad. He can get us out of Iraq altogether. The US military presence there is the fruit of a poisonous tree. It will always provoke Iraqi Muslim activists, whether Sunni or Shiite or secular nationalist. And it angers the whole Arab world.
28 April 2011
Speak of the Devil

. . . there's no word from Yoo on whether the President has the executive power to torture executives to force them to disclose their political donations.
It goes almost without saying that Yoo is lying. The small businesswoman, acting as an individual, can give as much money as she wants without disclosing it. Only when she signs a check to a political organization on an account belonging to the business does this rule come into play.
26 April 2011
Poli-Sci 101
Innocent men were picked up on the basis of scant or nonexistent evidence and subjected to lengthy detention and often to abuse and torture. Some people were released who later acted against the United States. Inmates who committed suicide were regarded only as a public relations problem. There are seriously dangerous prisoners at Guantánamo who cannot be released but may never get a real trial because the evidence is so tainted.
13 April 2011
Obama finally kicks it in gear

President Obama's core angle in this speech seems to be to focus on the fact that country got deficits under control in late 90s under Clinton and then went off the deep-end again with the Bush binge. Hard to beat the truth.
10 April 2011
If Marx was a great historian but a lousy economist, Caldwell sucks at both
The high point in The Gallery of Antiquities, Balzac’s great novel of debt, comes when gendarmes are arresting the young Count d’Esgrignons for a forgery committed to cover his borrowing. The loyal notary Chesnel, attached to the d’Esgrignons family by generations of service, has already spent his own modest fortune to get the young count out of such scrapes, but he is at the end of his resources. “If I don’t manage to smother this story,” he tells the count matter-of-factly, “you’ll have to kill yourself before the indictment is read out.” The count realises in a flash that people have lent him money not because they have more than they know what to do with, or because he’s a nice guy, or because his privileges are the natural order of things. They have lent him money because they have made certain assumptions about his honour – misplaced assumptions, as it turns out.The great irony of Caldwell's literary allusion is that - while evidently trying to impress with his grasp of eternal truths about debt and honour (or something like that) - he succeeds only in impressing us with his utter cluelessness about any economic history that might be considered actually relevant to the dire situation facing us now. More telling, perhaps, is the fact that he has looked to an unrepentant reactionary and royalist (Balzac) for inspiration.
In Washington, a resurgent Republican party took the American government to within two hours of being closed down for lack of politically authorised funds as it battled for swingeing cuts in federal spending. Across the Atlantic, an army of hedge funds and investment banks forced a lame-duck Portuguese government to turn to the IMF and European Union for a multibillion euro bail out. In Britain, George Osborne championed the breathtaking speed of his budget reduction plan by saying he would not play Russian roulette with British economic sovereignty. Everywhere are the echoes of the language Keynes tried to dispel at Bretton Woods.Keynes: he always looms large in times like these. As Hutton observes, it is the spectre of Keynes who should be haunting us now, not some count in a Balzac novel.
. . . having worked at a central bank myself, I am aware of that institutional desire to act "pre-emptively", in the words of a former head of the US Federal Reserve (not Alan Greenspan); that it is important to take the punchbowl away once the party gets going.The same might be said of the U.S. The current mess is a classic Keynes moment. Now is when we should be dusting off the manual, not talking about Balzac. Keegan points out:But the party has not got going in the UK.
Every day we read of the consequences of excessive austerity in countries such as Greece, Ireland and Portugal.
Economists and business leaders should not let the chancellor get away with Tea party-style statements about Britain risking bankruptcy and having no choices but to suffer. Keynes dedicated his life to challenge that thinking and for some years kept it at bay. The bad news is that it may only be disasters, like the one Keynes lived through, that will make people change their minds. The good news is that there are a lot of a very good and iconoclastic economists – many here – from many countries who want to take up the fight again. It's a race against conventional thinking – and time.
08 April 2011
It's nice to see the police do their job . . .

04 April 2011
01 April 2011
It figures

26 March 2011
There he goes again

"And then there’s the British experience. Like America, Britain is still perceived as solvent by financial markets, giving it room to pursue a strategy of jobs first, deficits later. But the government of Prime Minister David Cameron chose instead to move to immediate, unforced austerity, in the belief that private spending would more than make up for the government’s pullback. As I like to put it, the Cameron plan was based on belief that the confidence fairy would make everything all right.
"But she hasn’t: British growth has stalled, and the government has marked up its deficit projections as a result.
"Which brings me back to what passes for budget debate in Washington these days.
"A serious fiscal plan for America would address the long-run drivers of spending, above all health care costs, and it would almost certainly include some kind of tax increase. But we’re not serious: any talk of using Medicare funds effectively is met with shrieks of “death panels,” and the official G.O.P. position — barely challenged by Democrats — appears to be that nobody should ever pay higher taxes. Instead, all the talk is about short-run spending cuts."
Perhaps Krugman should try a different tactic: perhaps he should advise in favour of the opposite of what he really thinks should be done. Maybe that's where he's going wrong.
24 March 2011
Does not compute
20 March 2011
Hitting bottom

"Of course fear sells newspapers, but in unfortunate cases, the coverage is rooted in long-standing prejudices held by some Westerners against the non-West: for instance, a superiority complex that feels only the West and its media have real access to the truth, which led to a downplaying of Japanese media reports. In the worst cases, there has been simple racism, as some reporters when viewing how calm the Japanese are, seem to think the Japanese are mere robots who cannot grasp the immensity of the crisis or, as one colleague reports when a Spanish reporter interviewed her, think that the Japanese are genetically tuned to accept disaster. It is ironic that such reports assume such an attitude when, at the same time through their own inaccuracies, they show how much better the Japanese coverage is."
13 March 2011
I would prefer to be wrong

But I fear I won't be. It's already looking perilously late to get our collective asses, whom the Guardian is correctly exhorting to action, in gear.
Some of these dilations are a legacy of the Iraq war. Eight years on from the invasion, the calamitous errors after the toppling of Saddam continue to poison the cause of liberal interventionism. The shadow of Iraq makes it harder to win the argument that both self-interest and our moral values demand a response when a dictator is brutalising his people on our doorstep. In fear of another Iraq, the west risks repeating a different, earlier mistake: the divided and impotent European response to the slaughter in the Balkans in the 1990s.If it weren't for Iraq, we would have been in there by now.
10 March 2011
The hits keep coming
. . . having read many Scalia decisions, I am not as convinced of his supposed 'brilliance' as generally claimed. His opinions were clearly unprincipled, results driven, and often overturned even recent S.Ct precedent. He is one of the most hypocritical on the big bench; when he likes precedent, he waxes on about stability and precedent. When he wants to advance his political agenda - he bulldoze over decades of established precedent.
I remain completely unimpressed by his principles and his mind.