As Ken Rogoff, the IMF’s former chief economist who’s back teaching at Harvard, told the Financial Times, “The financial crisis probably has brought forward the day when the dollar is no longer dominant—but maybe from 75 years to 40 years.”
Monday, October 19, 2009
For the Conservative Populist Monetarist Xenophobe Set & Glenn Beck
US Senate Primary: PA 'D' Edition
I dunno about you, but if I were Rep. Joe Sestak [D-PA], I might not flaunt the Ned Lamont endorsement so loudly and proudly.Then again, Arlen Specter [D-PA] is (rumored to be) rolling out endorsements from (Jeebus, Rod Stewart, Tristan Tzara, Sting [the wrestler] and Sting [punk tango guy]) Bill Clinton, the POTUS, the VPOTUS, etc.
I hope we at least get a good coupla televised debates outta this fight, feat. HOT EFCA TALK.
[As I type, Chris Matthews is just giving a very unabashed explanation of how/why Sestak cannot win to Sestak/Lamont's face, but I'm feeling like a shill for MSNBC lately, and'm thus exercising restraint and NOT doing any vid-posting. Congratulations to us both!]
Sunday, October 18, 2009
Lex Dexter Thinks the Teevee's Funny Horn
Last night was "put up or shut up" time for Bored to Death AND the Cleveland Show. BTD is just a little bit too "2008" for me to handle, notwithstanding the always soothing presence of Zack Galifianakis....It's cool that they've got Ted Danson/"Sam Malone" experimenting with male prostitutes, and it's cool that Zack G's tummy is broader and denser than mine, but I'm not sure I care enough to regularly turn off Sunday nite Tortoise records in order to watch this thing seriously. Also, the show suffers from its lack of significant female characters. (No -- I'm not filthily calling for landscapes of ironically-lingerie-d Chloe Sevignys: I'm dead serious here.) Also, I should acknowledge a latent bias against Jason Schwartzman, who instantly reminds me of Rushmore and Wes Anderson. (Let me speak for the culture-at-large when I say, we've all had enough of Rushmore and Wes Anderson: it's "too much of a good thing," just like Portland and Brooklyn seem sometimes. See what I mean when I say "2008"? Here we are in Brooklyn, with Schwartzman as a witty, white wine-drinking, pomo private eye.) - Like Family Guy, The Cleveland Show foists all sorts of non sequitur side-bits onto hollow plot points, but has a very high slugging average when it comes to taking half-verboten topics or unexamined media worship and "hitting 'em outta the park." If I see the reruns on the Cartoon Network some night, or if I never see these Cleveland episodes ever at all....well, that's fine. Again, my Sunday nights are trending in the "listen to records" direction. And that's, well, fine.
- Cult Month on MSNBC Did I ever tell y'all how I took a class on the Millennium in the Fall of 1999? It was a blast, and the place I learned about cargo cults, Derrida, eschatology, etc., for the first time. Last night I tuned in to Witness to Waco mostly because it reminded me of hanging out with my girlfriend the previous weekend with the tv in the background. But, as was the case last week with Witness to Jonestown, I was impressed by the reporting and filmmaking going on. (When I say "impressed," I am talking about impressions relative to lowered expectations we all no doubt bring to cable broadcasts.) Despite MSNBC's predilection for "true crime" blah-blah-blah, "Cult Month" has so far featured both specific authors and more generally academic documentary viewpoints than I first encountered in that Millennium class from oh-so-many knife hits and milkshakes ago.
Vincent D'Onofrio exiting 'Criminal Intent' Law and Order: CI is my favorite of the Law and Order franchise and, since we lost the superior (in every way) Wire, my favorite police-ish thing on tv. At this point, D'Onofrio has employed every affect possible to make his reoccurring Sherlock Holmes qua Joe Friday character interesting, and for the last coupla seasons has been wandering around in a late-period-Orson-Welles kinda stupor. Thus his leaving is probably for the best, although the departures of the show's two supporting actresses, Kathryn Erbe and Julianne Nicholson, is more disappointing, because they both could have enjoyed the foregrounding that coulda/shoulda come after D'Onofrio's exit. [And alas, we're losing Eric Bogosian, too?!? I appreciated having one person on the cast with whom we could play "6 degrees of Sonic Youth."] Only now does the Jeff Goldblum era begin in full swing, I suppose.-
Over the course of a very transgressive Thursday nite, 30 Rock and Parks and Recreation treated us to two timely, topical, satirical episodes involving labor unrest on one hand, and Chavez/Venezuela on the other. I am a sucker for Parks and Recreation -- not just because it's funny, not just because it has Aziz Ansari from the funny/not funny Funny People, and not just because it involves at least a coupla public employee gags per episode. I'm also a sucker because I am biased towards Amy Poehler and the Upright Citizens Brigade crowd as I am biased away from Wes Anderson. - 30 Rock Review: "Season 4" (Episode 4.1) :In what way is Tina Fey not an icon for our times? Everybody watches this show, right?
As I've mentioned so often on le twtr, Sons of Anarchy is probably the worst program that I find it in my heart to watch on a weekly basis. It is professional wrestling-style dude-writing with Hamlet pretensions, and features regular gun battles, and now, this season, white supremacists. Season 2 got off to a "why the fuck am I watching this?" start when Katey Segal/"Peg Bundy"/"Gertrude" was raped by Henry Rollins, who wore a Micheal Meyers mask. Thank you, FX network, for helping me remind myself that in addition to being an uncool dork, I still appreciate "hard R" renditions of Die Hard 2 played out with motorbikes and leather. Help me! - I also watch political news programming on cable. Have I mentioned that before?
I also watch television programmes on digital video disc. Most recently, I have been speeding through the first two seasons of Weeds, which remind me a lot of what it's like to be a solipsistic but well-meaning young grownup beset by the slings and arrows of family life. (The show is about marijuana sometimes, blah-blah-blah.) Way more than the shitty-shitty-shitty American Beauty, Weeds talks about exurban anomie in a non-judgmental way that is comic but not unserious. I am a Mary-Louise Parker fan since seeing her in Proof on Broadway, and her unassumingly great performance here underscores her being not just a great actress but most likely a cool dorky person to know.
Of course, the only reason I need fill myself with all of this other television programming is because the DVD gods have yet to release Dynasty Season 5 for my home library. It is the pinnacle of something, who cares what.- What kind of television do you watch on tv?
Bobby Womack - Lookin' For A Love - S T 1974
I know, it's been almost 10 days or whatever. There is more coming, as I settle into a much more desktop-based living experience for the next month or two.
In the meantime, don't forget to glom new content on le Pship, and I'll see you back here bright and early, no later than tomorrow AM.
Thursday, October 8, 2009
Not Crap: Dick Durbin says what goes without saying about ACORN
Visit msnbc.com for Breaking News, World News, and News about the Economy
Final installment, for now, of the anti-anti-ACORN series: it's a triptych, I guess.
Sunday, October 4, 2009
Crap/Not Crap: CBO qua Scoreboard
Friday, October 2, 2009
TGIF
For Lex and Wobs and all you crazy cats.
Wednesday, September 30, 2009
With Dean Baker, against all economic "common sense"
The basic story on the budget deficit is very simple: we badly need large budget deficits in the short-term. They are the only force that can sustain demand in the economy after the collapse of housing construction and the loss of the consumption that had been supported by $8 trillion in illusory housing bubble wealth.What was I saying to Gabba about my penchant for uphill politico-ideological projects? Throw in a "fuck AIPAC, fuck small business" platform, and you're getting a sense of the entirely improbable path I'd like to see the Dems' socialist wing travel.
In the longer term we will need to reduce our trade deficit to replace this demand, but this can only be brought about by a reduction in the value of the dollar against the currencies of our trading partners. If our budget experts had been capable of independent thinking before the crash, they would have pointed out the over-valued dollar as a main cause of imbalances in the U.S. economy. Unfortunately, most of them are still incapable of recognizing the obvious.
The other big oversight that the budget experts commit is the failure to recognize the positive role that moderate rates of inflation can play in our economic recovery.
Rachel Maddow on ACORN: pt. 2 of 2, Essential Viewing
Visit msnbc.com for Breaking News, World News, and News about the Economy
Please watch this. Especially if you don't know from ACORN or the labor movement except from hatefuck you pick up on the airwaves and the occasional opaque cries of your blogger-chums. This is what "all this" means.
PS - As was inevitable, the (nonetheless estimable) Peter Dreier has gone ahead and said what goes without saying, having grafted the ACORN saga onto the "first they came for..." rubric.
Tuesday, September 29, 2009
Pat McCormick on Neil Cavuto Sep2009
Ballot Initiative emo, as promised!!!
OR tax warfare has made the news...FOX NEWS.
Rachel Maddow on ACORN: pt. 1 of 2
Visit msnbc.com for Breaking News, World News, and News about the Economy
We at the OG are longtime critics of ACORN's critics (Dave3544 RIP), who never fail to betray their class agenda with weird, 2009-specific proportions of McCarthyite and Goldwaterist anti-anti-capitalist moralism (and jokes).
We at the OG know all this, but have neither the vocal cords, nor the GE sponsorship, nor the horse-sense of Rachel Maddow. I invite everybody -from the OGs to the aesthetes who read this blog- to consider Rachel's very unsung hero-ish, very sticking-neck-out-ish oppo research into the money-stakes and culture-frames underpinning the discourse known as ACORN. In this installment, we learn about the Rove/Justice Dept. -related tributaries from David Iglesias, a former US Attorney fired by DOJ in 2006 who has been outspoken early and often about the hatefuck/GOP tactic of marginalizing/indicting ACORN and stymieing their successes with voter registration/living wage campaigns.
Essential viewing, this anti-anti-Acorn stuff. Stick around for installment #2! It's coming as soon as GE gets it up on the interweb....
What's that, you ask? "Whither l'OG?!?!?!" Well, if my distinguished co-contributors don't get around to (distinctively) contributing, you can count on nothing more (/less) than ballot initiative emo, health care discussion pilfered from Ezra Klein, and sycophantic MSNBC plugs. ('Arts & [sic] culture' programming continues on pslllffpt.)
Sunday, September 27, 2009
Beel Cleenton on Meet le Press, re: Health Care and Rightist Folks
Wednesday, September 23, 2009
Jesus, Chuck Grassley [R-IA], etc.
Jeebus effing cripes, cats. We enabled this Iowan-ese craphouse!As recently as a month ago, Chuck Grassley ... announced that the way to get universal coverage is "through an individual mandate." He told Nightly Business report, "That's individual responsibility, and even Republicans believe in individual responsibility." Earlier this year, Grassley told Fox News that there wasn't "anything wrong" with mandates, even if some may view them "as an infringement upon individual freedom."
Iowa Sen. Charles Grassley, the Finance Committee's senior Republican, said the mandate is among the reasons that he couldn't support the bill despite months of negotiations with Mr. Baucus. "Individuals should maintain their freedom to chose health-care coverage, or not," he said.
Tuesday, September 22, 2009
Rocks Off! Chasepack GOP PACs
from Marc Ambinder
Here's a list of other possible 2012 hopefuls, their PACs, listed by the amount of money raised + given so far this year. (Bobby Jindal is not included in the list; I couldn't get an official answer on whether he has a PAC, but signs of one are non-existent, and a Louisiana political operative I talked to hadn't heard of one.)
Mitt Romney, Free and Strong America PAC:
$2,318,789 raised, $1,845,423 given
Eric Cantor:
$1,004,593 raised, $983,451 given
Rick Santorum, America's Foundation:
$494,547 raised, $556,905 given
Sarah Palin, SarahPAC:
$732,867 raised, $276,200 given
Mike Huckabee, Huck PAC:
$304,673 raised, $336,589 given
Mike Pence, Pen PAC:
$115,588 raised, $111,593 given
Haley Barbour, Haley's PAC:
$14,050 raised, $14,560 given
Ron Paul, Liberty PAC:
$1,221 raised, $24,871 given
Monday, September 21, 2009
Dean Baker Should Pay Rent in my Skull
The size and energy at the anti-health care reform protests last weekend were impressive. While some of the leaders are clearly racist nutballs who can’t accept that an African American is in the White House, many of the tens of thousands who showed up in Washington and elsewhere came out in response to their perception of a government that does not respond to ordinary people.Maybe this call for Dems to "honestly assure" us about upward redistribution is my version of wanting the movement for reform to "keep it simple"? I dunno, but this is the article of the week, so far.
They have a basis for this complaint. It is hardly a secret that President Obama cut deals with the health insurance industry, the pharmaceutical industry, and other powerful interest groups. This may have been necessary for him to get a health package through Congress, but it’s hard to blame people for being suspicious.
Many of the protestors were not against the government playing a role in health care. In fact, one of the mostly widely expressed concerns was that the President Obama’s health care plan would worsen the quality of Medicare.
Supporters of reform believe that this reform will be a step forward in providing quality health care for everyone, but how confident can anyone be in this view? If there is no public insurance option, as is likely to be the case, how confident can we be that regulators will prevent the sort of abuses that are currently widespread in the insurance industry?...
What do we get if the federal government requires people to buy insurance, which quite possibly would be bad insurance, and provides subsidies to do so? By definition this would mean more people have insurance, but it doesn’t mean that people will have good health care. And, in the process, we will have made the insurance industry, the pharmaceutical industry, and the hospital industry considerably more profitable.
This is an example of what was known in last fall’s presidential campaign as “spreading the wealth around,” but as is generally the case in this country, the direction of redistribution is upward. The government would be taxing ordinary people and/or requiring them to make direct payments to insurers, in order to enrich major corporations and their top executives. Certainly the townhallers have every right to be upset about being forced to give their money to the multi-millionaires running United Health, Cigna, and the rest....
It is clear that most of the health care reform protestors don’t have a clear conception of the policy issues. But they do have a real basis for concern that they are about to be ripped off for the benefit of the rich and powerful. It would be nice if those of us who support reform could honestly assure them that this is not the case.
"Is [Obama] On the Wrong Channel?"
Visit msnbc.com for Breaking News, World News, and News about the Economy
Consider this a video supplement to my question from yesterday. I actually find the "sweat equity" argument about the "full Ginsberg" strategy to be pretty compelling in a parlor-room sense. Also, I appreciate Chris Matthews' particularly crabby attitude, here.
Not That You'd Notice From Democrats' Rhetoric, but...
News like this galls me more than 1,000 Tea Parties, to tell you the truth:
The figures reflect the initial effects of the recession. Median household income declined 3.6 percent in 2008 after adjusting for inflation, the largest single-year decline on record, and reached its lowest point since 1997. The poverty rate rose to 13.2 percent, its highest level since 1997. The number of people in poverty hit 39.8 million, the highest level since 1960.The society is becoming more unequal by the day: read for yourself, check the charts, etc. Now, who here has faith that the sitting administration can/will tinker with the political economy in a serious enough way to alleviate these most acute consequences of Reaganism's 30-year advance, let alone push back against the strucutures-in-dominance which produce them?These data include only the early months of the recession. The figures for 2009, a year in which the economy has weakened further and unemployment has climbed substantially, will look considerably worse, and the figures will likely worsen again in 2010 if, as many economic forecasters expect, unemployment continues to rise in that year. (In the last two recessions, the unemployment rate continued rising for 15 to 19 months after the recession officially ended.)
At Long Last: Le Trigger D'Olympia Snowe [R-ME]
What this says, basically, is that the public option triggers into existence in a particular state if there aren't two or more health insurance plans that cost less than 13 percent of a family's income (or a bit less below 300 percent of the poverty line).
Color me unimpressed. I could imagine a stringent trigger that becomes more aggressive with each passing year: Start at 13 percent of income, say, but by 2019, it needs to be 11 percent of income, as the idea is that insurers need to be competing to bring down costs. But this isn't that trigger. It's also hard to see a public plan in a couple of states wielding much power. It would be better if, say, five states failing to meet the affordability threshold triggered a national public option. But, again, this isn't that trigger.
The "bright" side -- if you want to call it that -- is that health-care costs are going to continue to rise faster than incomes. Within a decade or so, it'll be likely that very few states will have comprehensive policies costing less than 13 percent of income. In that scenario, the trigger does produce a bunch of public plans, at least over the long run.
But in that scenario, the plan is in all sorts of trouble, as the individual mandate is too stringent, and the subsidies are ineffective, so it's a bit hard to say what changes get made. My sense is that Olympia Snowe does not, in fact, want 50 public plans, but that does look like the long-term outcome of the trigger. The question, I guess, is how ingenious insurers will be at creating crappy plans that don't cover much but provide two "affordable choices" to delay the trigger. That doesn't seem like a good incentive for the system, but it's definitely there.
Sunday, September 20, 2009
Cigars and Shinobi

Having just bragged of the Obama-era-new-liberal-consensus that I think is in the offing, lemme now share this grotesque, John-Edwards-b/w-Dave-Matthews-level microcosm of why said New Era might be abhorrent in its own "green neoliberal" way:
After his big five television interviews on Sunday, President Obama carved out an even larger slice of time for one print journalist, hitting the links for 18 holes of golf with New York Times columnist Tom Friedman.Next up is "cigars and Shinobi" with Jim Rome?
The only other players, according to a pool report, were Ray Lahood, the Transportation Secretary, and Marvin Nicholson, a White House aide who previously worked on the Obama and Kerry campaigns.
Friedman joins a small, elite list of opinion journalists from traditional outlets who have been granted private -- and largely off the record -- audiences with The President. Back in January, Obama spent about 75 minutes with Friedman's Times colleagues Maureen Dowd and Frank Rich, along with National Journal's Ron Brownstein, Atlantic blogger Andrew Sullivan, MSNBC's Rachel Maddow and The Washington Post's E.J. Dionne and Eugene Robinson. That meeting balanced out a longer dinner for conservative opinion journalists from traditional outlets like The Wall Street Journal and The Washington Post, such as George Will, Bill Kristol, David Brooks, Charles Krauthammer, Peggy Noonan and Paul Gigot.