Category: Good Writing

I’m Glad to Know that I am Not Alone

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It appears that Matt Taibbi feels the same way:

I was in an airport in Florida yesterday and was forced into a terrible, Sophie’s Choice-type choice.

I was hours early for a flight and stuck in a relatively small terminal crammed with people. Only one area in the whole wing had empty seats; an unused gate that contained a TV blaring the CNN broadcast of Obama’s Labor Day speech at full volume.

So it was either sit underneath a full-volume broadcast of our fearless president bellowing out his latest hollow promises, or the hellish alternative: retreat to gates full of screaming five year-old children, all of them jacked up on sugar and bawling their eyes out because it was the end of Labor Day weekend and their cruel parents were dragging them home from Disneyworld.

I ended up choosing the screaming children. The one open seat in a nearby gate was next to an extended family of Indian tourists. A four year-old boy from that group wearing a cape and brandishing a plastic light saber thought it was funny when he kept saber-swiping at my knees. But sitting through that was better than having to listen to Obama drape himself in Harry Trumanisms and talk about “shared prosperity.”

The interesting thing here is that I get the sense that Taibbi actually feels a sense of betrayal, while I’ve been down on Obama since 2007, so I can’t say that he ever raised my hopes, which makes my visceral distaste for him a bit more puzzling.

Just Read This

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It’s an article, from Forbes of all places, which explains how our zeal to become a “knowledge economy” is razing our economy to the ground.

They use Dell Computer as an example:

ASUSTeK started out making the simple circuit boards within a Dell computer. Then ASUSTeK came to Dell with an interesting value proposition: “We’ve been doing a good job making these little boards. Why don’t you let us make the motherboard for you? Circuit manufacturing isn’t your core competence anyway and we could do it for 20% less.”

Dell accepted the proposal because from a perspective of making money, it made sense: Dell’s revenues were unaffected and its profits improved significantly. On successive occasions, ASUSTeK came back and took over the motherboard, the assembly of the computer, the management of the supply chain and the design of the computer. In each case Dell accepted the proposal because from a perspective of making money, it made sense: Dell’s revenues were unaffected and its profits improved significantly. However, the next time ASUSTeK came back, it wasn’t to talk to Dell. It was to talk to Best Buy and other retailers to tell them that they could offer them their own brand or any brand PC for 20% lower cost.

It’s an evocative example, and one which is easily understand, but the problem is that it invites the criticism that it’s just another mindless “Yellow Peril” argument.

The meat of the argument, at least to me as an engineer, is further down:

So the decline of manufacturing in a region sets off a chain reaction. Once manufacturing is outsourced, process-engineering expertise can’t be maintained, since it depends on daily interactions with manufacturing. Without process-engineering capabilities, companies find it increasingly difficult to conduct advanced research on next-generation process technologies. Without the ability to develop such new processes, they find they can no longer develop new products. In the long term, then, an economy that lacks an infrastructure for advanced process engineering and manufacturing will lose its ability to innovate.

One of the arguments made by what used to be called “Atari Democrats” in the 1980s was that we could dump all the manufacturing, and then we could all sit behind desks and create the ideas for the lesser (i.e. non-white) people to manufacture.

It’s simply wrong.  When you no longer make stuff, you no longer know how to make stuff, and when you no longer know how to make stuff, you can no longer come up with viable ideas.

The question is whether we want to have the German economy, or the Mexican one, and increasingly, it appears that we are trying to achieve the latter, since by making everyone else poorer, it makes the people at the top of the pyramid comparatively richer, and they are the ones who make the big campaign donations.

Read all 4 parts.

H/t DC on Stellar Parthenon BBS.

Thorstein Veblen is Back

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Not the historical figure, but rather the nom de blog of the principal of Economic Policy Advice for Barack Obama, formerly called Economists for Firing Larry Summers, has returned to posting after taking a few months off because life (Grad School, my guess) got in the way.

I still use the old name in my blogroll, because I think that it is a better name.

His posts are uniformly good, but rather too infrequent for the medium of a blog.

Talk About Damning With Faint Praise…

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One of the memes about Barack Obama is that his constant capitulation and negotiating with himself is some sort of eleven dimensional chess.

I think that this is unmitigated bullsh%$, and I think that James Fallows does too, but one of his readers buys into it seriously, but turns what he considers to be a compliment into an insult by comparing Barack Obama to Chess master Bobby Fischer.

For those of you who are unfamiliar with Fischer, he is a classic example of someone who by hubris and temperament destroyed himself, and whatever skills he might have had in chess, they never translated to anything useful, even before his descent into paranoia, mental illness, and bigotry.

He was a man so unpleasant, that much of the American public was rooting for the Russian when he won his Chess championship.

The reader states that, “From a political and a policy standpoint, he’s pushed the Republicans so far to the right that they are called terrorists without humor by the national media.” is so lost the alternate reality of the Obama fanboi it beggars belief.

I rather think that Fallows found this provocative, and published this even though he is dubious of this theory; he is no way a fanboi.

In any case, I look forward to reading his readers responses.

I Agree With Matt Taibbi

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His thesis is that Obama’s capitulation is by design, not by timidity and cowardice:

But to a bunch of hired stooges put in office to lend an air of democratic legitimacy to what has essentially become a bureaucratic-oligarchic state, what good does such advice do? Would it have made sense to send the Supreme Soviet under Andropov or Brezhnyev a list of policy ideas for enhancing the civil liberties of Soviet citizens?

The Democrats aren’t failing to stand up to Republicans and failing to enact sensible reforms that benefit the middle class because they genuinely believe there’s political hay to be made moving to the right. They’re doing it because they do not represent any actual voters. I know I’ve said this before, but they are not a progressive political party, not even secretly, deep inside. They just play one on television.

For evidence, all you have to do is look at this latest fiasco.

………

We probably need to start wondering why this keeps happening. Also, this: if the Democrats suck so bad at political combat, then how come they continue to be rewarded with such massive quantities of campaign contributions? When the final tally comes in for the 2012 presidential race, who among us wouldn’t bet that Barack Obama is going to beat his Republican opponent in the fundraising column very handily? At the very least, he won’t be out-funded, I can almost guarantee that.

And what does that mean? Who spends hundreds of millions of dollars for what looks, on the outside, like rank incompetence?

It strains the imagination to think that the country’s smartest businessmen keep paying top dollar for such lousy performance. Is it possible that by “surrendering” at the 11th hour and signing off on a deal that presages deep cuts in spending for the middle class, but avoids tax increases for the rich, Obama is doing exactly what was expected of him?

It’s a much simpler thesis than all encompassing incompetence juxtaposed with a messianic complex.

I’ve used the term “Manchurian Democrat,” but Tiabbi is a much better writer.

Quote of the Day

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I just realised that plenty of mainstream US Democrats, having spent the last however long castigating people to the left of them for perceiving some progressive tendencies in the government of Fidel Castro, are now reduced to supporting the re-election of a President who imprisons people without human rights in Cuba, but who has made excellent advances in the field of bringing healthcare to the poor.

—D-Squared Digest

It’s like reading The Onion.  I don’t know whether to laugh or to cry, though I think that any improvements on bringing healthcare to the poor is over stated.

Quote of the Day

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I feel about this the way I feel about people who keep grizzly bears and gorillas and tigers as pets. They keep animals that outweigh them as pampered houseguests, feeding them raw salmon and steak and putting cute little collars on them and sh%$, and then are ABSOLUTELY SHOCKED when their “best friends” get bored one day and eat their faces.

—Athenae from First Draft

(%$ mine)

She was noting that David Frum is shocked, absolutely shocked, that the modern Republican party has been taken over by the insane fringe that they have pandered to for decades.

The question was never “if” but when the inmates would seize the asylum.

Note that Frum is what passes for a deep thinker from the ‘Phants.

More Like Bush Every Day

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The New York Review of Books has what can only be called an epic take-down of Barack Obama and his administration.

I really cannot do justice to the piece, you should read it, but here a re a couple of quotes:

Plouffe’s advice to the President defines not just Obama’s policies but also his behavior. Plouffe tells the President, according to this observer, that the target group wants him to seem the most reasonable man in the room. Plouffe is the conceptualizer, and Bill Daley, the chief of staff who shares Plouffe’s political outlook, makes things happen; Gene Sperling, the director of economic policy, and Tom Donilon, the national security adviser, are smart men but they come out of politics rather than academia or deep experience in their respective fields. Once Austan Goolsbee, chairman of the Council of Economic Advisers, departs later this summer, all of the President’s original economic advisers will be gone. Partly this is because the President’s emphasis on budget cutting didn’t leave them very much to do. One White House émigré told me, “It’s not a place that welcomes ideas.”

(emphasis mine)

It sounds an awful lot like what John Dilulio characterization of the Bush Administration’s lack of a policy apparatus as, “The reign of the Mayberry Machiavellis.”

Every time I hear something like this, I become increasingly convinced that there’s not a damn bit of difference between them and the Bushies.

And then I read this, and realize that there is a difference:

According to a report in The Hill newspaper in late June, the tough-minded, experienced, and blunt Democratic Representative Henry Waxman of California told Obama in a White House meeting that he’d asked several Republicans about their meeting with him the day before, and, “To a person, they said the President’s going to cave.” Then the congressman said to the President of the United States, “And if you’re going to cave, tell us right now.” The President was reported to have been displeased, and responded, “I’m the President of the United States; my words carry weight.”

Obama, while just as petulant as Shrub, lacks his guts, and everyone knows it.

Just read the whole thing.  It’s very good.

Quote of the Day

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Courtesy of John Cole:

I really don’t understand how bipartisanship is ever going to work when one of the parties is insane. Imagine trying to negotiate an agreement on dinner plans with your date, and you suggest Italian and she states her preference would be a meal of tire rims and anthrax. If you can figure out a way to split the difference there and find a meal you will both enjoy, you can probably figure out how bipartisanship is going to work the next few years.

Word up.

Quote of the Day

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Courtesy of George Packer:

Weber’s terms perfectly capture the toxic dynamic between the President, who takes responsibility as an end in itself, and the Republicans in Congress, who are destructively consumed with their own dogma. Neither side can be said to possess what Weber calls a “leader’s personality.” Responsibility without conviction is weak, but it is sane. Conviction without responsibility, in the current incarnation of the Republican Party, is raving mad.

Word.

This is a Righteous Rant

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While I don’t agree with Riverdaughter’s suggestion that Hillary Clinton should primary Obama in 2012, Hillary is a spent force in presidential politics, but her basic thesis, that Mr. Hopey Changey is a “weak Republican in disguise,”, is one that I have maintained since October 21, 2007 (see the full story of what informed my opinion here).

I have to agree with Kevin Drum, this stuff ain’t eleventy dimensional chess.  He declined to extend the debt limit, and as a result now proposes gutting Social Security, Medicare, and Medicaid, because that is what he really wants.

In any case read Riverdaughter.

Not The Onion…

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But this is satire:

In bid for attention, nation’s unemployed to launch failing investment bank

District of Columbia – In an effort to gain the support of political leaders, a coalition of unemployed Americans have filed paperwork to declare themselves the nation’s largest investment bank. Supporters of the planned financial institution hope the move will quickly curry Congressional favor, leading to a large-scale federal bailout of unemployed and underemployed workers.

…………

Read the rest, it is prize.

Matt Taibbi is a Genius

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Just go read his takedown of Michelle Bachmann:

It could happen. Michele Bachmann has found the flaw in the American Death Star. She is a television camera’s dream, a threat to do or say something insane at any time, the ultimate reality-show protagonist. She has brilliantly piloted a media system that is incapable of averting its eyes from a story, riding that attention to an easy conquest of an overeducated cultural elite from both parties that is far too full of itself to understand the price of its contemptuous laughter. All of those people out there aren’t voting for Michele Bachmann. They’re voting against us. And to them, it turns out, we suck enough to make anyone a contender.

Just go read it.

It’s nothing new, but it is a cogent, and eminently readable, synthesis of what we do know.

What Liberal Pushback Should Look Like

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Thomas Geoghegan, has just written an OP/ED suggesting that Social Security and taxation should be increased, not decreases:

As a labor lawyer I cringe when Democrats talk of “saving” Social Security. We should not “save” it but raise it. Right now Social Security pays out 39 percent of the average worker’s preretirement earnings. While jaws may drop inside the Beltway, we could raise that to 50 percent. We’d still be near the bottom of the league of the world’s richest countries — but at least it would be a basement with some food and air. We have elderly people living on less than $10,000 a year. Is that what Democrats want to “save”?

“But we can’t afford it!” Oh, come on: We have a federal tax rate equal to nearly 15 percent of our G.D.P. — far below the take in most wealthy countries. Let’s wake up: the biggest crisis we face is that most of us have nothing meaningful saved for retirement. I know. I started my career wanting to be a pension lawyer. In the 1970s, lawyers like me expected there to be big pots of private pensions for hourly workers. By the 1980s, as factories closed, I was filing hopeless lawsuits to claw back bits and pieces of benefits. Now there are even fewer bits and pieces to get.

A recent Harris poll found that 34 percent of Americans have nothing saved for retirement — not even a hundred bucks. In this lost decade, that percentage is sure to go up. At retirement the lucky few with a 401(k) typically have $98,000. As an annuity that’s about $600 a month — not exactly an upper-middle-class lifestyle. It’s too late for Congress to come up with some new savings plan — a new I.R.A. that grows hair, or something. There’s no time. We have to improve the one public pension program in place. Should we means-test it? No. I don’t care if they go out and buy bottles of Jim Beam: let our elderly have an occasional night out at a restaurant.

The most paralyzing half-truth in this country is that people hate taxes. People are willing to pay taxes that they spend on themselves. Two-thirds of those surveyed in a CBS/New York Times poll in January were willing to pay more taxes to save Social Security at its modest level. To “save” it, most of us don’t need to pay. We could lift the cap on high earners, the 6 percent of workers who make over $106,800 a year. If earnings above the cap were subject to the payroll tax with no increase in benefits to high earners, there would be no deficit in the Social Security trust fund in 2037, as projected.

If people are willing to pay more just to “save” Social Security, they should be glad to pay more to raise it.

I cannot imagine a such a full throated defense of basic human decency as government policy from any Democrat on the national stage, and that is a large part of the tragedy that is the Democratic party.

Yves Smith’s Takedown of Obama on Warren is a Thing of Beauty

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This is truly good writing.

She details the machinations that the Obama administration has gone through to avoid making her the head of the Consumer Financial Protection Bureau, and it ain’t pretty.

Not only does it make justified critiques of the basic policies (the banksters must be protected at all cost), but it details the shortcomings in basic approach that have characterized his first two years in office.

Go read.

What the Shrill One Said

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Paul Krugman offers a data point that shows that default and devaluation works better than austerity and debt peonage.

The spread on an Icelandic CDS is now about a third that of the Irish CDS, which means that their borrowing costs are lower, as is the confidence of the market in their credit.

Rolling the Nobel Laureate:

Why, it’s almost as if defaulting on debts run up by runaway bankers and letting your currency depreciate works better — even from the point of view of investors — than socializing private-sector losses and grimly sticking with a fixed exchange rate.

Or to put this in earthier terms, if you want to survive this sort of financial meltdown, f%$# the banks, not the average citizen.