Month: January 2013

Not Something I Did Not Expect From Time Magazine

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they just did an article about the advantages of state owned banks:

The American Great Plains are known for their expansive farm lands, endless horizons, and — in recent history — staunchly conservative politics. So it may come as a surprise that only state-owned bank in the U.S. (an institution more widely associated with communist China than the Republican Party) can be found in ruby-red, rural North Dakota.

 That’s right, The Bank of North Dakota (BND) — the largest bank in the state by deposits — was founded by legislative mandate in 1919, and has been a mainstay of the North Dakotan economy since that time, mostly through partnering with community banks to provide loans for local businesses. And advocates of public banking are holding up the BND as an example of what government-owned banks can do for an economy.

 ………

 Sure, there are many obstacles to launching publicly-owned financial institutions. Pulling state capital out of commercial institutions could prove to be disruptive to the current financial system. And proper controls need to be set up to avoid political considerations overwhelming proper analysis of lending opportunities. But North Dakota has avoided these pitfalls, and the NBD is an institution that has proven its ability to work alongside the private banking industry to help the state’s economy — one of the most successful in the nation in recent times — develop and grow.

The idea that this idea has gained enough currency to appear on the pages of Time Magazine is pretty remarkable. 

Generally, the MSM will view something like North Dakota’s as an anachronism, or some sort of upper Midwest peculiarity, like something from the movie Fargo.

They are actually taking this seriously, and that’s a change.

What the Hell Is Cameron Doing With the EU?

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He is due to give a speech in Brussels demanding that some powers be returned to Britain, most notably those dealing with criminal justice, immigration, and foreign workers.

Truth be told, I think that he is trying to walk a tight rope. A large majority of the Tories, and (if polls are correct) most of the rest of the country, are inclined to favor an exit from the EU, so he’s attempting a number of things:

  • He wants to take the wind out of the sails the right wing nativist UK Independence Party, which is on a path to reduce the Tories’ Liberal Democrat coalition partners to 4th place and irrelevance.
  • He wants to pacify his own right wing.
  • He wants to put Labor leader Millibrand in the position of supporting the EU which is an unpopular position.

Truth be told, with what Merkel is looking to do, I would be a Euroskeptic myself:

It is understood that Merkel, the only EU leader who has been calling for a revision of the Lisbon treaty to underpin new governance arrangements for the eurozone, has given up on the idea of a major treaty revision for the moment.

 The German chancellor is said to have decided it is fruitless to push for a treaty revision in the face of strong opposition from France and elsewhere. Instead she has decided to try to stabilise the eurozone by setting up what are described as “work streams” in three areas. These cover banking union, the subject of the last EU summit where Cameron won guarantees for Britain; greater fiscal co-ordination among eurozone members; and labour market reform across the EU.

(emphasis mine)

If I lived in the EU, the idea that the Germans, who have no statutory minimum wage,, and a long history of dubious treatment of immigrants, would be driving “labor market reforms” it would fill me with dread.  It translates into f%$#ing the ordinary working bloke.

Of course, David Cameron is a member of the Conservative party, so “f%$#ing the ordinary working bloke”, is kind of an article of faith for him.

I still maintain that the real problem with the EU is German hegemony in the EU, because they have much like the Bourbon Kings, “They had learned nothing and forgotten nothing.”

In the lame poodle category, Cameron is saying that the US has given its permission for him to ask for this.

Britain’s “special relationship” with the US looks increasingly like a relationship between a prostitute and a pimp.

When Gun Nuts Mention Switzerland, Cite This

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Yes, the Swiss do have common posession of military weapons as a part of their armed forces, but the regulatory regime is a gun control advocates wet dream. They literally count the bullets that their citizen soldiers carry (rolling the Wiki):

The Montpelier Exempted Village Schools Board of Education has approved the carrying of handguns by its custodial staff.

The 5-0 vote of the board Wednesday night to allow handgun training for four custodians to be able to tote weapons at the K-12 campus at the Williams County school came after last month’s deadly shooting rampage at Sandy Hook Elementary School in Connecticut.

School officials say that having armed personnel – believed to be the first for any school system in Ohio – is designed to thwart incidents of violence and prevent what happened in Newtown, Conn., from occurring here.

“Sitting back and doing nothing and hoping it doesn’t happen to you is just not good policy anymore. There is a need for schools to beef up their security measures,” Supertendent Jamie Grime told The Blade today. “Having guns in the hands of the right people are not a hindrance. They are a means to protect.”

Nothing that is proposed even comes close to this.

Welcome To CrazyTown USA: Arming School Janitors | Crooks and Liars

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Wasn’t  Groundskeeper Willie Armed in an Episode of the Simpsons?

Speaking of the stupid burning, how about that Montpelier Ohio School Board?

They have decided to arm their janitors:

The Montpelier Exempted Village Schools Board of Education has approved the carrying of handguns by its custodial staff.

 The 5-0 vote of the board Wednesday night to allow handgun training for four custodians to be able to tote weapons at the K-12 campus at the Williams County school came after last month’s deadly shooting rampage at Sandy Hook Elementary School in Connecticut.

 School officials say that having armed personnel – believed to be the first for any school system in Ohio – is designed to thwart incidents of violence and prevent what happened in Newtown, Conn., from occurring here.

 “Sitting back and doing nothing and hoping it doesn’t happen to you is just not good policy anymore. There is a need for schools to beef up their security measures,” Supertendent Jamie Grime told The Blade today. “Having guns in the hands of the right people are not a hindrance. They are a means to protect.”

Seriously, this is so stupid that it beggars belief.

The only people who will benefit from this decisions are the gag writers for Letterman, Leno, and the Daily Show, along, of course with the writing crew of The Simpsons.

If they don’t do a show on arming Groundskeeper Willie now, they need to find a new job.

H/t Crooks and Liars

This is One Way to Deal with Proprietorial Overreach

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A petition at the White House has Called for the firing of United States Attorney Carmen Ortiz for her wildly disproportionate prosecution of Aaron Swartz, who committed suicide while facing decades in prison for downloading public documents.

It is now about 80% of the way to reaching the 25,000 signatures to require a response from the Obama administration.

Needless to say, the administration response will be either to do nothing, or to promote her, because they see “tough on crime” as a political winner.

I called it “Murder by Prosecutor” last night, which is (of course) rhetorical excess, but this was proprietorial excess.

Of course, we don’t know why he committed suicide, he did have a history of depression, but it’s fairly certain that this did not help.

On the bright side, I think that this is driving a discussion of overzealous prosecutors, and even if Ms. Ortiz keeps her job, her political career beyond this, she is/was seen as a rising star in the Massachusetts Democratic Party Establishment, has been detoured if not ended, which should hopefully make prosecutors think twice when they decide to destroy someone just to make an example.

Over the past 30 years, US laws have been changed to grant enormous power to prosecutors.

Based on how they file, and what they choose to present at sentencing, they now have the ability to dictate sentences to an unprecedented degree.

This has been corrupting the operation of the federal justice system for decades.

Murder by Prosecutor

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Aaron Swartz, age 26, suicide.

We cannot know all the reasons behind this, but his harassment by prosecutors was likely a contributing factor.

He was probably targeted because of his high profile opposition to SOPA (see vid). (To its shame, the New York Times does not mention this in the obit)

We have developed a regime where anyone can be harassed, and likely convicted, basically for being “troublesome.”

The term I used a while back, “Live in Obedient Fear, Citizen,” describes this phenomenon.

Self Entitled, Self Deluded Assholes

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Robert Bork, at least later in his life, was a classic example of how the modern Republican Party has deliberately become a manufacturer of narcissistic fantasists:

Even before Robert Bork died last month, he had achieved something close to martyrdom. In the quarter-century since the Senate rejected his Supreme Court nomination, successive generations of conservative lawyers and activists have carried the torch, depicting his defeat as an injustice of historic proportion. Following his death at the age of 85, liberals mostly maintained a respectful silence while conservatives dusted off old complaints about the conduct of the confirmation hearing and the unfairness, in their view, of the “borking” the nominee received. Clearly, the Bork Battle survives Bork.

………

Some time after the Senate vote, I was invited to a conversation with Judge Bork at the offices of The New Republic magazine. He was hurting and angry. When my turn came to ask a question, I asked him whether, at any time during the hearing, he had felt that a member of the Judiciary Committee had met him on his own level in serious constitutional conversation.

“No,” he answered.

“Not even Arlen Specter?” I asked.

“Specter had his mind made up from the beginning,” he snapped.

I knew that wasn’t true, although Judge Bork clearly believed it. Senator Specter, a Pennsylvania Republican, had in fact agonized over his vote, as I knew from having talked with him almost daily. A Yale Law School graduate and former prosecutor, the senator went head to head with the nominee through several rounds of questioning, hours of mesmerizing constitutional debate in which he probed for any sign of flexibility in Judge Bork’s view that the entire course of modern constitutional law was profoundly mistaken. Finding none, Senator Specter, who had assumed at the start of the hearing that he would vote for confirmation, decided to vote No, fully recognizing the price he would pay within his own party. Five other Republicans followed. (Judge Bork and Senator Specter, whose paths crossed at such a significant moment in their lives, died within months of each other; Arlen Specter, who eventually became a Democrat, died in October at 82.)

………

I should explain this column’s title, “Robert Bork’s Tragedy.” I see him as a tragic figure: not because he was dealt an unjust hand – he wasn’t – but because of his inability to understand what happened. He spent his final decades surrounded by acolytes who stoked his sense of victimhood, and there seemed to be no one around him to provide a reality check as his rants about the Supreme Court’s depredations and the collapse of Western civilization (he portrayed the two as inextricably linked) became ever more extravagant. (In a symbolic gesture aimed at the Republican base, Mitt Romney named him co-chair of his campaign advisory committee on law.)

What is interesting here is not Robert Bork, but rather how the production and support of this sort of (for lack of a better term) insanity has increasingly become the primary product of the right wing noise machine.

I’m not entirely sure how to fix this rather poisonous and self-reinforcing dynamic.

Truth be told, I’m not sure that would I want to fix this dynamic. 

Maybe I’m an optimist, but seems to me that this dynamic has gotten to the point they are choking on their own bile, and I see that as a good thing.

H/t Brad Delong.

Dean Baker on Timothy Geithner, That’s Gonna Leave a Mark

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This is positively brutal:

Treasury Secretary Timothy Geithner’s departure from the Obama administration invites comparisons with Klemens von Metternich. Metternich was the foreign minister of the Austrian empire who engineered the restoration of the old order and the suppression of democracy across Europe after the defeat of Napoleon.

This was an impressive diplomatic feat – given the widespread popular contempt for Europe’s monarchical regimes. In the same vein, protecting Wall Street from the financial and economic havoc they brought upon themselves and the country was an enormous accomplishment.

Just go read it.

What a Surprise, Another Cave

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Another Cave

Yes, as a final f%$# you to the average American, the White House has ruled out the platinum coin:

The Treasury Department will not mint a trillion-dollar platinum coin to get around the debt ceiling. If they did, the Federal Reserve would not accept it.

 That’s the bottom line of the statement that Anthony Coley, a spokesman for the Treasury Department, gave me today. “Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit,” he said.

 The inclusion of the Federal Reserve is significant. For the platinum coin idea to work, the Federal Reserve would have to treat it as a legal way for the Treasury Department to create currency. If they don’t believe it’s legal and would not credit the Treasury Department’s deposit, the platinum coin would be worthless.

The idea of minting a platinum coin to invalidate the debt ceiling comes from a few key sentences tacked onto the 1997 Omnibus Consolidated Appropriations Act. “Notwithstanding any other provision of law,” it reads, “the Secretary of the Treasury may mint and issue platinum coins in such quantity and of such variety as the Secretary determines to be appropriate.”

Even if you decide that you will not do this, you do not take this off the table without getting something in return.

At best, it’s a kind of mania with the Obama, he wants to be seen as the reasonable person in the room, even when in a situation where this does not work, at worst, he’s getting everything that he wants, which includes savaging Medicare, Medicaid, and Social Security.

If You Want to Understand the Face of Modern Capitalism

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Just read Aviation Week‘s savaging of Angela Merkel. (Paid Subscription Required)

Seriously, this article makes me feel a modicum of respect for Angela F%$#ing Merkel.

It centers on the role of Merkel of killing the BAE/EADS merger, and Aviation Week, which is at its core a defense industry newsletter, and as suchit does not approve of government “meddling.”

The basic premise behind this is that after sucking up billions of government subsidies and contracts, they want to “unleash the free market” (Translation: move factories to China, overpay senior executives, and continue to get government money).

Nixing the terms demanded by BAE may have been the best thing that Merkel has ever done.

If there is any industry that rivals the banksters for socializing risk and privatizing profits, it is the defense industry, and to treat it as anything but a ward of the state is a profound mistake.

This Isn’t the Petition Response You’re Looking For | We the People: Your Voice in Our Government

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So, some wags put out a petition to, “Secure resources and funding, and begin construction of a Death Star by 2016“.

Since this bit of comedic gold has gotten more then 25,000 signatures, the white house has issued a response:

The Administration shares your desire for job creation and a strong national defense, but a Death Star isn’t on the horizon. Here are a few reasons:

  • The construction of the Death Star has been estimated to cost more than $850,000,000,000,000,000. We’re working hard to reduce the deficit, not expand it.

  • The Administration does not support blowing up planets.

  • Why would we spend countless taxpayer dollars on a Death Star with a fundamental flaw that can be exploited by a one-man starship?

I am actually a bit surprised by their response.

I would have assumed that the White House would have insisted that “blowing up planets” was a necessary executive prerogative in line with his functions of Commander-in-Chief.

Belated 100th Birthday, Mr. President

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Richard Milhaus Nixon was born on January 9, 1913.

I’m not a deep student of history, but I do believe that he was the worst president from the period 1933 through 1973 1974, and that he was the best president from the period of 1969 through 2013. (Would you like that with extrajudicial drone killings, sir?)

We are led by increasingly small and petty men.

He is a F%$#ing Comedian

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Blah, blah, blah!

So until the pundits are subjected to some scrutiny for their fact free gaffes, leave Jon Stewart alone. </LeaveBritneyAlone>

You can see the video, and I don’t think it’s great. It shows off his not-infrequent forays into “a pox on both their houses” land, but there is a difference between saying, “Not up to his normal standards,” and:

I won’t say that Stewart has the same obligation to be accurate the journalists have—in fact, if he had brought up the coin only to make a lot of silly jokes about whose face would be on it, that would have been okay. (A missed opportunity, but nothing more.) But instead he grossly misled his audience.

At its best the Daily Show is about satirizing the actual reality of American governance in an honest way. Stewart has built up a lot of credibility over the years. A great many people trust him implicitly, believing that while his main objective is to be funny, he also won’t under any circumstances BS them. Yesterday, he betrayed that trust.

Shame on you, Jon Stewart. You’re better than this.

It’s one thing to say, “It’s not his best,” and it’s another to treat it as one of the 4 horsemen of the apocalypse.

Ryan Cooper, please get a life.

Ooh, Baby, You Are So Talented!

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And They Are So Dumb!

You remember how Dick “Army of Dicks” Armey spilled the beans on how he and the rest of FreedomWorks was basically grifting?

Well, it appears that he confused the conservative Media Research Center, and the liberal Media Matters when he spilled the beans:

There’s been a remarkable amount of drama surrounding Dick Armey’s departure from FreedomWorks, culminating Friday with a stunning report from Media Matters, who interviewed the former House Majority Leader directly. Armey had all kinds of interesting insights to share with the progressive group, including tidbits on pay-for-play agreements with Glenn Beck and Rush Limbaugh, and the FreedomWorks’ practice of charging activists to attend free events.

 Though many of Armey’s revelations should probably be taken with a grain of salt — the former GOP leader seemed confused about some of the details he shared — there was a larger question that puzzled nearly everyone: why in the world was Dick Armey dishing dirt to Media Matters?

 The Daily Caller, a conservative outlet, tracked down the answer.

Dick Armey had no idea he was speaking to the left-wing Media Matters organization during an interview last week, he told The Daily Caller Tuesday. Instead, Armey thought he was chatting with the conservative Media Research Center. […]


 As for who he thought he was speaking to, Armey asked the Daily Caller, “Who’s the guy with the red beard that always does the show where he points out how biased the press is?” Told he seemed to be referring to the Media Research Center’s Brent Bozell, who does a weekly “Media Mash” segment on Fox News, Armey said, “Yeah, I thought it was Brent Bozell.”

As the saying goes, “ない愚かさはない薬です”.*

If these guys had half a brain, we’d be in trouble.  Of course, if they had half a brain. they would not be movement conservatives.

H/t Crooks and Liars.

*Pronounced in Japanese, “baka ni tsukeru kusuri wanai”, which means, “There is no medicine for stupidity.” Apologies for any inaccuracies in the text, I do not know Japanese.