Sandip Roy: Prop 8 and SB 1070 - Sisters Under the Skin?
47 minutes ago
The story on the stimulus is similarly depressing. At its base, the stimulus is Keynesian economics in practice. A recession hits, and individuals and businesses become scared that they're next on the chopping block, so they stop spending and start saving to protect themselves from the hard times to come. That drains demand from the economy, and without demand, the hard times get even harder. Government is the only player able to disrupt this vicious cycle. By sharply increasing its spending, it can generate demand, improving the economy until individuals and businesses are comfortable reentering the marketplace.I don't think the Obama administration tried hard enough, or smartly enough, or long enough to explain the necessity of the stimulus, or the bail outs for that matter. I've been complaining for almost a year now that they weren't fighting hard enough to promote, and then defend, the stimulus. It's not that the American people are inherently stupid. But in a vacuum, they'll believe the only idiot talking, even if he's a Republican who's spinning a lie. Read More......
Key to this whole theory is that the government should act "counter-cyclically": In good times, it should save and store, and in bad times, it should spend and borrow. The exact opposite holds true for businesses and individuals, which makes the whole project pretty unintuitive.
Students in macroeconomics classes learn all this in the first week of September. After a year of trying to explain it to an economically distressed nation, however, Obama basically gave up. Instead, he bowed before the entrenched, incorrect, conventional wisdom. "Families across the country are tightening their belts and making tough decisions," he said. "The federal government should do the same.
Well, no. It shouldn't. The government should not tighten its belt until the people can loosen theirs. That's why the stimulus was a good idea, and why Obama is asking Congress for another stimulus, although this one's being called a "jobs bill." But the stimulus proved almost impossible to explain, and it was far too small, given the size of the recession. As a result, people are very worried about jobs, and they're very worried about deficits, and instead of trying to convince them that deficits make good sense until job growth is back to normal, the administration is trying to appease those fears so it can get on with the rest of its agenda.
Both David Cameron and Alistair Darling expressed support for Barack Obama's proposals to force banks to pay into a fund that would provide compensation in the event of the failure of a financial institution.Read More......
Cameron said at the World Economic Forum summit at Davos that he thought a so-called Tobin tax was unworkable because of a lack of international support, but said he would back an insurance levy if he became prime minister in this spring's election. "We would work for a new international levy on banks – one of the ideas being considered by the IMF – to protect the taxpayer from footing the bill for banking crises," the Conservative leader said.
The chancellor said he was working with the US on a permanent insurance levy, an idea the Treasury believes will win more support than a Tobin tax. "We are keen to work on a plan on this with other countries," Darling added.
The perceived failure of global talks on combating climate change in Copenhagen last month has also been blamed for undermining public support. But in the government's first high-level recognition of the growing pressure on public opinion, Miliband declared a "battle" against the "siren voices" who denied global warming was real or caused by humans, or that there was a need to cut carbon emissions to tackle it.Read More......
"It's right that there's rigour applied to all the reports about climate change, but I think it would be wrong that when a mistake is made it's somehow used to undermine the overwhelming picture that's there," he said.
"We know there's a physical effect of carbon dioxide in the atmosphere leading to higher temperatures, that's a question of physics; we know CO2 concentrations are at their highest for 6,000 years; we know there are observed increases in temperatures; and we know there are observed effects that point to the existence of human-made climate change. That's what the vast majority of scientists tell us."
[Obama] must be less foggy on the specifics of what that agenda is. Though on Wednesday night he asked Congress to “take another look” at the health care bill, even now it’s unclear what he believes that bill’s bedrock provisions should be. He also said he wouldn’t sign any financial regulatory bill that “does not meet the test of real reform,” yet tentatively praised a House bill compromised by a banking lobby that is in bed with Democrats and Republicans alike. The Senate, of course, has yet to produce any financial reform bill.Read More......
Americans like Obama far more than they like any Congressional leader. They might even like more of his policies if he spelled them out. But none of that matters if no Democrat fears him enough to do any of his bidding and no Republican believes there’s any price to be paid for always saying no.
The preferred snacks for Tudor theatre-goers appear to have been oysters, crabs, cockles, mussels, periwinkles and whelks, as well as walnuts, hazelnuts, raisins, plums, cherries, dried figs and peaches.Read More......
Some clues even suggest that 16th-century fans of William Shakespeare and Christopher Marlowe also ploughed through vast quantities of elderberry and blackberry pie – and some may even have snacked on sturgeon steaks.
The evidence has emerged from the most detailed study ever carried out on a Tudor or early Stuart playhouse. Archaeologists have been analysing the thousands of seeds, pips, stones, nutshell fragments, shellfish remains and fish and animal bones found on the site of the Rose Playhouse on London's South Bank.
Me, take out the trash?!And, one for the Joint Chiefs:
I'm a shit hot player, mom:
I brought down ACORN!
The Joint Chiefs of Staff:The pundits and talking heads are still agog over Obama's performance at the GOP House Issues Conference yesterday. We'll be hearing about it for awhile. And, as hard as those GOPers try to spin it, Obama won the day. Big. And, we need to see more of THAT Obama.
Fig leaves made of white knuckles
Against gay attacks!
Tony Blair ended an epic six-hour inquisition by the Chilcot inquiry last night by insisting he had "no regrets" over toppling Saddam Hussein, arguing that the world was more secure and that Iraq has replaced "the certainty of suppression" with "the uncertainty of democratic politics".Read More......
The former prime minister blamed "the very near failure of the Iraqi occupation" on Iranian interference, misplaced assumptions and a lack of US troops.
During the long-awaited cross-examination, he gave no substantial ground over why he sent 40,000 UK troops to war to disarm Saddam of weapons he did not possess, arguing that if the west had backed off Saddam would have reassembled them, as he had the intent and ability to do so. "I had to take this decision as prime minister. It was a huge responsibility then and there is not a single day that passes by that I do not think about that responsibility, and so I should," Blair said.
Despite resistance from women's groups, the ad is expected to air during the Super Bowl. It is believed that the commercial will focus on Pam Tebow's 1987 pregnancy, during which time she fell ill in the Philippines. According to reports, doctors recommended that she abort the pregnancy, but she chose to go through with the birth of her son Tim.The religious right is behind the ad, and we all know how fast and loose the religious right can be with the truth. Read More......
Tebow grew up to be one of the most accomplished and celebrated stars in college football history, capturing two national championships and becoming the first sophomore to win the Heisman trophy.
Because abortion under any circumstance has been illegal in the Philippines since 1930 and is punishable by a six-year prison term, Allred says she finds it hard to believe that doctors would have recommended the procedure.
The attorney, who has represented a roster of famous clients, claims she will lodge a complaint with the FCC and FTC "if this ad airs and fails to disclose that abortions were illegal at the time Ms. Tebow made her choice," according to RadarOnline.
[M]any of the Republicans in attendance were less conciliatory, accusing Obama of coming to their conference for the purpose of scoring political points – exactly the kind of cynical ploy he accused them of.Read More......
"His purpose was to talk to the American people...but I think the American people will see through it...and that he continues to push forward with proposals with which they strenuously disagree," said Tom Price (R-Ga.), chairman of the Republican Study Group. "[W]hen he says he's not an ideologue, the chuckles in the room were only compounded by the chuckles across the land,” he added.
Critics of increased regulation for banks said this would stifle innovation, but Stiglitz argued that it is difficult to see how the innovative banking products in the past 10 years helped society.Exactly. How brilliant was that "innovation" when nobody in senior management had any idea what was going on? The only thing they understood was the bonus money that piled into their bank account. Read More......
"You ask what was the social value of the CDO squares? They were doing things we should have known were stupid," he said.
A CDO square is a derivative where a collaterlized debt obligation is used to invest in other collateralized debt obligations.
Jeb, with all due respect, I've just got to take this last question as an example of how it's very hard to have the kind of bipartisan work that we're going to do, because the whole question was structured as a talking point for running a campaign.Towards the end, Obama pointed to GOP pollster Frank Luntz, who was sitting in the front row. He noted that when many of the GOP Representatives stand on the House floor to talk issues, Luntz "has already polled it" -- and they get the talking points from him on how to box Obama in. The President kept going back to the theme that the GOPers were in a constant attack mode -- and how that prevented them from being able to work with him.
And [White House Communications Director] Dan Pfeiffer tells Politico that the White House will step up efforts to spotlight GOP obstructionism, but this quote may irk folks a bit:It irks me. Apparently, the White House accepts the fact that Senate Republicans will filibuster every single legislative item. Or, they accept the fact that the Senate Republicans have no fear of repercussions for obstructing the Democrats' agenda because the President doesn't make them pay a price. Mitch McConnell is putting his political interests above the well-being of the nation. We're in two wars and slowly climbing out of the Great Recession (maybe.) But, there's no price to pay for blocking everything and anything in the Senate. Obama should be picking the GOPers off one-by-one. And, he should spend some time in Maine to let everyone up there know the games that the two alleged Republican moderates are playing with our nation's future.“With 59 Senators, it is mathematically impossible for Democrats to do everything on their own."Some will respond that it’s only mathematically impossible if Dems accept the filibuster as an inevitable fact of life, rather than something that might be campaigned against and changed. But the White House doesn’t appear to have an appetite for doing that.
The United States pledged Thursday to cut its greenhouse gas emissions by 17 percent by 2020 from 2005 levels under an international climate agreement, though it made its commitment contingent on passing legislation at home.Read More......
The Obama administration submitted its much-anticipated reduction target to the United Nations Framework Convention on Climate Change Secretariat under the Copenhagen Accord, a non-binding deal brokered by the United States last month at the U.N.-sponsored climate talks. Under the deal President Obama helped secure in Copenhagen, major emitters of greenhouse gases are expected to "inscribe" their reduction targets by Jan. 31.
Bernanke's nomination was approved 70-30 by the Senate after clearling a procedural roadblock with a 77-23 vote. A simple majority of 51 votes in the 100-person chamber was needed for approval.Read More......
Senators debating his nomination credited Bernanke with steering the U.S. economy through a wrenching financial crisis but leveled withering criticism at him for policies they argued sowed seeds for the turmoil and for an initial slow response.
"Dear Silvio, I am sorry to make things difficult for you, but you are ignoring the poor people of the world," he told the Frankfurter Rundschau.Read More......
And in a clear reference to the notoriously image-conscious Berlusconi, Gates told Süddeutsche Zeitung: "Rich people spend a lot more money on their own problems, like baldness, than they do to fight malaria."
In an annual report issued on Monday by the Bill and Melinda Gates Foundation, Italy's aid was listed in 2008 at 0.21% of GDP, compared withthe UK's 0.48%. Italy then decided to halve aid in 2009, which made it "uniquely stingy among European donors", Gates wrote.
A new Public Policy Polling survey in Illinois finds Alexi Giannoulias (D) leading Rep. Mark Kirk (R) in the U.S. Senate race, 42% to 34%.PPP is the polling firm Joe actually trusts. Read More......
However, Kirk leads the other two candidates, topping Cheryle Jackson, 38% to 36%, and edging David Hoffman, 37% to 36%.
The primary to choose the candidates is next week.
Hackers struck at least 10 House websites overnight, substituting expletives aimed at Pres. Obama just hours after his State of the Union address.Read More......
The hackers targeted many House Dem freshmen, including Reps. Ben Ray Lujan (D-NM), Harry Teague (D-NM), John Boccieri (D-OH) and Steve Driehaus (D-OH), as well as at least 5 other more senior Dems and the site owned by GOPers on the House Oversight Committee.
"F--- OBAMA!! Red Eye CREW !!!!! O RESTO E HACKER!!! by HADES; m4V3RiCk; T4ph0d4 -- FROM BRASIL," the messages read.
The commission, in a 3 to 2 vote, decided to require that companies disclose in their public filings the impact of climate change on their businesses -- from new regulations or legislation they may face domestically or abroad to potential changes in economic trends or physical risks to a company.Read More......
Chairman Mary L. Schapiro and the two Democrats on the commission supported the new requirements, while the two Republicans vehemently opposed them.
On a night when both tradition and the Court's role dictate that he sit silent and inexpressive, he instead turned himself into a partisan sideshow -- a conservative Republican judge departing from protocol to openly criticize a Democratic President -- with Republicans predictably defending him and Democrats doing the opposite. Alito is now a political (rather than judicial) hero to Republicans and a political enemy of Democrats, which is exactly the role a Supreme Court Justice should not occupy.So did Alito just become a teabagger? Read More......
Want to get health care legislation passed in Congress? Send the elected men home, one congresswoman reportedly suggests. Shea-Porter, a New Hampshire Democrat, said as much at a Manchester town hall meeting last weekend, according to The Hill.com. It reports someone released 55 seconds of her remarks, which went viral and made national headlines.Read More......
"We go to the ladies room and the Republican women and the Democratic women and we just roll our eyes," she said. "And the Republican women said when we were fighting over the health care bill, if we sent the men home. ..." At that point, The Hill.com reports loud applause interrupted Shea-Porter's remarks.
She continued, "You know why? I'm not trying to diss the men, but I'm telling you it's the truth that every single woman there has been responsible for taking care of a [relatives] and so we think we can find a common ground there," according to The Hill.com.
This got a bit lost in the noise yesterday, because of the excitement in the runup to Obama’s speech and also because of some inaccurate reporting, but it’s important: Yesterday Nancy Pelosi strongly suggested there’s real momentum behind passing the Senate bill in the House with a reconciliation fix.By constitutional majority rule, I think she means a process by which 51 Senators vote up or down the legislation - e.g., reconciliation (or eliminating the filibuster). Read More......
Pelosi met with a group of columnists yesterday and talked about the bill, and initial reports wrongly said she had flatly predicted she had the votes for passing the Senate bill as is. Then Pelosi’s office disputed that interpretation, and everybody more or less forgot about her comments.
But what she actually said is worth a look. A transcript is right here. Here’s the key bit, in which she addresses the likelihood of passing the bill if the Senate agrees to pass fixes to the billl via reconciliation, or what she calls “constitutional majority rule,” making the bill more palatable to House members:
“If there is a willingness for us to pursue with the constitutional majority rule, then I think we’ll be able to come up with something that sufficiently addresses the concerns of House Members of the policy in the Senate bill. All of this was agreed to, say a week and a half ago, and we’re pretty confident about going on a positive course there, because the changes were I think very important and we could make a case for them.”
The Ford Motor Company earned $2.7 billion in 2009 and said Thursday that it now expected to be profitable in 2010 as well.Ford was the only U.S. auto maker that didn't get a bailout. But, the government (meaning taxpayers) did save the auto industry (including Ford)::
The profit for 2009, equal to 86 cents a share, was a swing of $17.5 billion from 2008, when the company lost $14.8 billion. It is Ford’s first full-year profit since 2005.
The company ended 2009 with $25.5 billion in cash reserves, nearly twice the $13.4 billion it had at the start of the year.
To be sure, the industry's modest progress has come at a large cost to taxpayers. Fitch, the credit-rating service, estimates total direct and indirect government assistance to the U.S.-based manufacturers during the recession at a staggering $125 billion. That includes the cost of capital injections for GM, Chrysler and their respective financial arms, as well as Cash for Clunkers, supplier guarantees, Energy Department loans (which Ford also has tapped) and aid from other governments such as Canada.Looks like our investment is paying off, in the short term anyway. Read More......
A large majority of Americans who watched President Obama's State of the Union Address generally approve of the proposals he outlined in his speech, according to a CBS News Poll conducted online by Knowledge Networks immediately after the President's address.Keep in mind that was when Bush was riding high in the polls and the country was still relatively united after September 11th.
Of the randomly selected 522 speech viewers questioned by CBS, 83 percent said they approved of the proposals the President made. Just 17 percent disapproved — typical of the high support a president generally receives among those who choose to watch the State of the Union. In January 2002 — when George W. Bush gave the State of the Union Address a year into his presidency — 85% of speech watchers approved.
However, a sizable 57 percent said the President will not be able to accomplish all of the goals he set out in his speech. Most Democrats who viewed the speech (63 percent) said the man they elected would be able to accomplish all of his goals, but only 11 percent of Republicans and 33 percent of independent voters agreed.Getting the economy moving again and creating jobs for Americans isn't a priority for the Republican party. And, they admit it. Read More......
Most Democrats and independents who watched said the president shares their priorities, while most Republicans did not.
Bank of AmericaRead More......Chief Executive Brian Moynihan will be paid $950,000 a year for his new job, the Wall Street Journal reported on Wednesday.
The bank's board of directors has approved the salary, which is 19 percent more than Moynihan's 2008 base pay, according to the Journal.
Moynihan will not receive a bonus for 2009, the Journal reported, citing sources familiar with matter. Pay czar Kenneth Feinberg was not consulted, the source said.
The multimillion-pound "peace and reintegration" fund would seek to lure low ranking Taliban fighters, who join out of poverty rather than ideology, by giving them jobs, schooling or land for farming. An effective amnesty for these men, now believed to make up 75 per cent of the insurgency's ranks, means that even those who took part in attacks involving the deaths of British or US soldiers would be rehabilitated.Read More......
The UN sanctions had been imposed under a resolution aimed at punishing the Taliban for their support of Osama bin Laden's network. More than 100 Taliban names including that of Mullah Omar, the hardline Taliban spiritual leader, remain on the list. But the move to rehabilitate five former senior Taliban officials, greeted with deep suspicion by human rights groups, could be a pathway to direct negotiations with senior figures in the movement. While they remain on the UN blacklist, they cannot appear in public or attend talks. The decision was warmly welcomed yesterday by Richard Holbrooke, the US special representative for Afghanistan, who said it was "a long overdue step".
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