Boehner botches economic talk

As Krugman points out, Boehner is the "second most influential member of the GOP (after Rush Limbaugh)." Seriously though, the top Republican in the House thinks that what America needs now is for the government to cut spending; to tighten its belt, just like all Americans are having to do. Considering that part of our current problem is that consumer demand is too low, one of the worst things we could do is to suck even more demand from the economy by cutting back on government spending. That's the entire idea behind the stimulus bill - use government demand, aka government spending, to make up for anemic consumer demand. Boehner's statement isn't just idiotic, it's downright dangerous (it's equally ludicrous for Boehner to praise consumers cutting back on their spending as though it's admirable and necessary - in fact, it's making things worse). When will Republicans hold their leaders accountable? And when will they stop choosing blithering idiots, tax cheats, drug addicts, and himbos as their leaders? Yes, Boehner has nice hair and pretty eyes. But can you people ever elect a brain too? Read More......

GOP governor of South Carolina not interested in stimulus money

Of course he's not, he's a Republican. Why should he want free money that could be spent keeping his own citizens in their jobs, creating news jobs, building roads and bridges, and overall helping the people of the state? He's a Republican, and a southern Republican at that. Southern Republicans aren't interested in helping people (well, other than themselves and big corporations). The GOP would rather have the recession worsen as they believe it's their only chance to win the next election. Read More......

GOP Senator Specter on GOP chairman Steele: ‘I wouldn’t pay a whole lot of attention to him.'

Numbered days?

SPECTER: National Chairman Steele, well he’s said so many contradictory things I wouldn’t pay a whole lot of attention to him.

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Leave Limbaugh alone!

From, and starring, our friend John Amato of Crooks & Liars.

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Freeman's out

Guess what? Joe Lieberman helped sink him:

The controversial appointee to chair President Barack Obama’s National Intelligence Council walked away from the job Tuesday as criticism on Capitol Hill escalated....

The withdrawal came after Sen. Joe Lieberman (D-Conn.) grilled Blair at a Senate Armed Service Committee hearing Tuesday. Lieberman cited his “concern” about “statements that [Freeman] has made that appear either to be inclined to lean against Israel or too much in favor of China.”

Kind of an embarrassment that Obama didn't need. I thought Lieberman was supposed to help with these things, not help cause them, now that Obama saved him? Read More......

Mormons float boycott of AOL over HBO's "Big Love"

Well that was dumb.

For a people who abhor publicity, and who claim they don't want to give attention to HBO's Mormon-based TV series "Big Love," suggesting on their Web site that they nudge-nudge-wink-wink wouldn't exactly stop anyone from organizing a massive boycott of AOL (because the company owns HBO) is not the way to minimize public attention.

From the Mormon mother ship's Web site:

Last week some Church members began e-mail chains calling for cancellations of subscriptions to AOL, which, like HBO, is owned by Time Warner. Certainly such a boycott by hundreds of thousands of computer-savvy Latter-day Saints could have an economic impact on the company. Individual Latter-day Saints have the right to take such actions if they choose.

The Church of Jesus Christ of Latter-day Saints as an institution does not call for boycotts. Such a step would simply generate the kind of controversy that the media loves and in the end would increase audiences for the series.

Did you get that? They're NOT suggesting that anyone organize a massive boycott that would "certainly... have an economic impact on" AOL. Not exactly a subtle bunch.

Oh, and for anyone else interested, the page I link to above is a nice tidy list of all the best sources for finding everything wrong with the Mormons, courtesy of the Mormons themselves. For example, I never knew about this Larry O'Donnell appearance on McLaughin. Thanks, Mormons!

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Dropping the A-word Bomb

America. As in, do you really love it? Except this time the implied question is coming from Democrats and directed at other Democrats. In a nutshell, some on the left, including Jewish groups, are upset with Obama's appointee to head the National Intelligence Council, Charles Freeman, because of his positions on Israel. Freeman's defenders rose to the challenge and questioned whether Freeman's attackers had an Israel-first mindset that didn't put America's interests above all else. Freeman's critics now feel that their patriotism has been impugned, in a McCartyhyesque sort of way.

At the risk of having yet another pro vs. anti Israel brawl in the comments, I found this back and forth interesting in that it illustrates a problem we have in this country discussing Middle East policy. I probably lean more pro-Israel than pro-Palestinian (I'd describe myself as pro-both, with Israel ahead by a neck). But my experience working on the Hill, and my experience studying, working in, and following US foreign policy, has made me wonder whether we, as a country, aren't a bit too predisposed towards doing what is good for Israel, at the expense of all else.

The problem is that it's difficult to write that without being attacked by friends of Israel. Then again, their attack is sometimes for good reason. I've noticed that when an intellectual brawl breaks out over Israel, I often get a whiff of anti-Semitism from some - not all, not even most, but certainly some - of Israel's critics. It reminds me, a lot, of what happens when heads become hot over gay civil rights issues. While I recognize that reasonable people can disagree about various issues in the gay rights debate, the debate is often less than reasonable, and the other guy's arguments are more often than not tinged with at least a touch of bigotry. Just as gay people have learned to spot the subtle bigotry when listening to the anti side of the gay rights debate, I suspect that friends of Israel have also learned to spot the inner-anti-Semite when engaging in a heated discussion about Israel. It doesn't mean the other guy is always anti-Jewish, but like the gays, we've learned that far too often, some subtle nastiness will creep into the debate. It also means that sometimes we're going to be overly sensitive even when the other guy has done nothing wrong.

This is a long way of saying that I understand why Jewish groups are sensitive to criticism of their positions on Israel. But I worry that such sensitivity, when it's omnipresent, vociferous, and unmerited, can stifle debate. It certainly makes me cautious about even writing what I wrote above. And that doesn't strike me as healthy. Read More......

Further confirmation: Eric Cantor is an idiot

Republicans got used to having a president who could only do one thing at a time -- and was incompetent. Now, we have an intelligent president who is determined to fix the mess left by his predecessor. Republicans on the Hill have been looking for some way, any way, to criticize Obama.

Eric Cantor, who is the second ranking GOP member in the House, thinks he found it: Obama is doing too much. Seriously, that's the best he can do. Cantor obviously has no idea how stupid he looks with this argument. And, it's scary that Cantor doesn't know the role energy and health care play in the economy. But, we shouldn't expect too much from Cantor, who did help Bush get us into the crisis:

House Minority Whip Eric Cantor (R-Va.) seized on the opportunity to criticize the president Tuesday for over-reaching in his first 50 days on the job.

Following the GOP's weekly conference meeting, the second-ranking House Republican told reporters that President Obama should be focusing on the "economic crisis," as opposed to holding four-hour meetings on healthcare, as the president did last week. The efforts may be laudable, Cantor said, but the White House should be devoting all resources to fixing the economy and not to "impose these cap-and-trade schemes."

"At the end of the day, we are in an economic emergency. Economists are saying that there's a 30 percent likelihood that we're going to be in a depression," Cantor said. "My goodness, we do have an emergency, and we oughta say, look, priority No. 1 is to create jobs."

My goodness, we do have an emergency, but, Cantor and his GOP colleagues all voted NO to the economic recovery act, which will create millions of jobs. My goodness, we do have an emergency, but Cantor is taking orders from Rush Limbaugh, who wants Obama to fail.

My goodness, we do have an emergency and, wow, Eric Cantor is an idiot.

Obama pretty much blew Cantor's argument out of the water earlier today:

I know there's some who believe we can only handle one challenge at a time. And they forget that Lincoln helped lay down the transcontinental railroad and passed the Homestead Act and created the National Academy of Sciences in the midst of civil war. Likewise, President Roosevelt didn't have the luxury of choosing between ending a depression and fighting a war; he had to do both. President Kennedy didn't have the luxury of choosing between civil rights and sending us to the moon. And we don't have the luxury of choosing between getting our economy moving now and rebuilding it over the long term.

Pretty much sums it up.

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Mormons flip out over HBO's "Big Love"

Our good friends, the Mormon bigots, are flipping out over the latest episode of HBO's series "Big Love." Apparently, HBO recreates some super secret rooms in Mormon temples that non-Mormons, and even some Mormons, aren't permitted to visit (it also shows one of the characters in typical temple garb, above). The Mormons are so freaked out about the episode, and the show overall, that they've sent an email to their "public affairs representatives" (is this a church or a Wall Street bank?) urging them NOT to say anything publicly about the episode, lest it get "Big Love" more publicity:

Unless otherwise directed, at this sensitive time, I suggest that Public Affairs leaders NOT urge response to the TV Guide ad, or to the HBO program.....and avoid increasing the show's ratings or attention.

That's a good borg.

Below, you'll find what TV Guide has to say about the episode. The Mormons graciously sent that out to their list as well, as part of their overall effort NOT to publicize the show. Thanks! It sounds fascinating - too bad I don't get HBO anymore (paying $200 bucks a year, in order to watch Entourage, when the show has a "season" of only 12 episodes a year - i.e., paying $17 an episode - struck me as obscene when I finally did the math).


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Consensus of 51 forecasters: US economy to finally rebound 2nd half of 2009

Finally some good news.

"Consumer spending and residential investment are expected to turn positive and begin boosting GDP growth in the third quarter of this year," the newsletter Blue Chip Economic Indicators said, summarizing its survey of private economists.

The consensus of the 51 forecasters surveyed looks for U.S. gross domestic product to tumble at a sharp 5.3 percent annual rate in the first quarter and to decline at a 2 percent pace in the second quarter.

In the third quarter, however, economists expect the economy to expand at a 0.5 percent rate, followed by a 1.8 percent fourth-quarter gain.

Now, that doesn't mean all will be rosy by summer. It will still take a long time for the economy overall to get back to normal, including employment levels. In fact, the average unemployment rate is expected to be higher in 2010 than this year. But, at least if we turn a corner this summer, that will give people hope - an important factor in turning around consumer demand. We just need to make sure that any such turnaround in GDP growth isn't used by Republicans to kill any future stimulus, or other legislation, needed to ensure our full recovery. Read More......

The religious right feels betrayed by Obama

Um, he wasn't your candidate, and he doesn't represent your views. So tell me again how he has gone back on his word.

He called for reducing abortions and seeking common ground on one of the nation’s most divisive issues — promises that led some on the right to think maybe, just maybe, Barack Obama was a different kind of Democrat.

But no more.

A series of decisions in the past two months — capped by an announcement Monday that he’s abolishing Bush-era limits on embryonic stem cell research — has led to a reassessment of Obama by some Christian conservative and other religious leaders, who now charge him with inflaming the very cultural divisions he once pledged to heal.

They really are good, the Republicans. Whether it's House Republican Whip Eric Cantor claiming that rescinding Bush's stem cell ban "distracts" us from the economy, or the religious right now claiming that lifting that particular ban somehow breaks some promise Obama made during the campaign. Basically, they won't be happy unless Obama becomes a Republican. And in the case of the Republican party and the religious right, they won't be happy - period.

The danger here is that the religious right, including Catholic activists, are playing Obama. They know he wants to be loved by the right, and they know that he went particularly out of his way to woo religious conservatives. The hope is that by whining about how much he's betrayed them, perhaps they can get Obama to veer more to the right on "culture war" issues.

Interestingly, the media seems to already be buying the bull. This from Politico:

And at a time when Obama’s bid to seek greater bipartisanship on Capitol Hill already has run into serious obstacles, Monday’s decision seemed to put even greater distance between himself and top congressional Republicans.

Yes, Obama's position on stem cell research, which was clearly laid out during the campaign, a campaign that he won a hearty mandate with, only NOW puts him at odds with Republicans, and in fact, it's Obama's fault that Republicans won't find his policies the same as, say, John McCain's or Rush Limbaugh's.

Why does Obama insist on wrecking bipartisanship by being a Democrat? Read More......

Obama trade policy to require stricter provisions on labor and environmental standards

There he goes again. Barack Obama is following through with another campaign promise. This one is on U.S. trade policy and it is a very big change from the policy of George Bush and Dick Cheney:

During the campaign, Obama said he generally supports free-trade policies but also signaled a tougher approach that is only now beginning to be outlined. Both in Kirk's testimony yesterday and in a policy statement issued by new Obama appointees at the Office of the U.S. Trade Representative, the administration vowed to make tougher labor and environmental standards prerequisites for trade deals. Rather than stressing the signing of new agreements, the administration indicated that it will instead prioritize stricter enforcement of existing ones before the World Trade Organization -- the Geneva-based body that arbitrates global trade.

In what appeared to be a jab at the Bush administration's zealous pursuit of free-trade agreements, Kirk, a former mayor of Dallas, said: "I do not come to this job . . . with deal fever. We're not going to do deals just for doing so."

The administration, he said, is conducting a review of trade agreements signed by the previous administration with South Korea, Colombia and Panama. He said outright that the deal with South Korea, as currently written, "is simply unfair." He added that "we are prepared to step away from that" if it is not reworked.

The new administration policy statement, released by the trade representative's office last week, said Obama would seek new benchmarks for the passage of the agreements with South Korea and Colombia. South Korea has come under fire for its hurdles for U.S. automakers, while U.S. unions have said Colombia has not done enough to combat violence against labor leaders there. Though Kirk declined to detail what those benchmarks may be, analysts have suggested that they might involve, for instance, a U.S. insistence that murders of union leaders be sharply reduced in Colombia before lending support to the deal.

The trade representative's office also stated that trade policy must now contain a new element of "social accountability," including on issues such as climate change. "We should aim to make trade a part of the tool kit of solutions for addressing international environmental challenges," the statement said.

Imagine that. Factoring in the human cost to trade deals. And, expecting other nations to do their part to protect workers and the environment. What concepts. Why, that's almost, what's the word I'm thinking of here....it's almost moral. That, of course, means Republicans will vociferously oppose these changes.

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Tuesday Morning Open Thread

Good morning.

I missed this little gem from the Sunday shows:

President Obama’s impending reversal of the restrictions on embryonic stem cell research is meant to distract from the economy, House Minority Whip Eric Cantor (R-Va.) suggested Sunday.

“There’s a reason it’s coming up this week,” Cantor said during an appearance on CNN's "State of the Union." “Why are we going and distracting ourselves from the economy? This is job No. 1, let’s focus on what needs to be done.”

First, the Republicans aren't doing anything to help the economy. All they do is say "NO" as ordered by their one true leader, Rush Limbaugh. Second, does Cantor have any sense of compassion? Only a real dick would consider it a distraction to find a cure or give hope. But, then again, Cantor is a Republican member of Congress.

Let's get started... Read More......

Leading US banks look as bad as ever

What's the plan for the US banking industry? Nationalizing and cleaning them up? Letting them collapse? Breaking them up to prevent too big to fail? Geithner is going to have to wake up sometime soon or Obama is going to need to make a change because the banking situation - which Geithner was supposed to be watching in recent years - looks no better today than it did last year, maybe worse. Having a plan is not such a bad idea, but that doesn't look like anything exists right now.

America's five largest banks, which already have received $145 billion in taxpayer bailout dollars, still face potentially catastrophic losses from exotic investments if economic conditions substantially worsen, their latest financial reports show.

Citibank, Bank of America , HSBC Bank USA , Wells Fargo Bank and J.P. Morgan Chase reported that their "current" net loss risks from derivatives — insurance-like bets tied to a loan or other underlying asset — surged to $587 billion as of Dec. 31 . Buried in end-of-the-year regulatory reports that McClatchy has reviewed, the figures reflect a jump of 49 percent in just 90 days.

The disclosures underscore the challenges that the banks face as they struggle to navigate through a deepening recession in which all types of loan defaults are soaring.

The banks' potentially huge losses, which could be contained if the economy quickly recovers, also shed new light on the hurdles that President Barack Obama's economic team must overcome to save institutions it deems too big to fail.

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Tsvangirai now says deadly car crash an accident

It's a strange change for the injured PM of Zimbabwe though his party is still pressing for an investigation.

Zimbabwe's Prime Minister, Morgan Tsvangirai, has ruled out foul play over the road accident in which his wife, Susan, died, although many in his party remain sceptical.

Addressing mourners at his home upon his return from Botswana, where he had gone to seek treatment at the weekend, Mr Tsvangirai said the car crash which he survived last week was a pure accident and he had no reason to think it was yet another attempt on his life.

But a senior MDC official, who did not want to be named publicly contradicting his boss, said many party officials would have preferred the party's own investigation into the accident to be completed first before Mr Tsvangirai made any pronouncements.

"His statement has probably made any investigation superfluous," said the official, adding that many in the party and outside harboured suspicions about the accident.

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50th annivesary of Tibet uprising

The Beijing government is celebrating the crushing of the uprising by sending in the troops and maintaining the media blackout of Tibet. At least the Olympics helped change everything with China.

The Chinese government has made life "hell on Earth" for Tibetans during the half-century since a failed uprising against its rule in 1959, the Dalai Lama said Tuesday.

"These 50 years have brought untold suffering and destruction to the land and people of Tibet," the 73-year-old spiritual and political leader of Tibetan Buddhists said from exile in Dharamsala, India. "Today, the religion, culture, language and identity ... are nearing extinction; in short, the Tibetan people are regarded like criminals deserving to be put to death."

But Chinese officials blame the 50-year conflict on the Dalai Lama, accusing him of seeking an independent Tibet.

"The Dalai side still insists on establishing a so-called Greater Tibet on a quarter of China's territory," Chinese Foreign Minister Yang Jiechi told reporters last week. "They want to drive away the Chinese armed forces on Chinese territory and ask all non-Tibetans to relocate themselves, people who have long spend their lives in that part of the Chinese territory. You call this person a religious figure?"

Yang said China's "contradictions" with the Dalai Lama "is not about religious, human rights, ethnic or cultural issues but whether or not China will remain unified."

The Dalai Lama has repeatedly denied China's accusations. He says he seeks genuine autonomy for the region -- not independence -- and advocates the "Middle Way" of non-violence.

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