A long December...

to steal a line from a song I used to enjoy... and there's reason to believe...

Thus far in December, I have:
1. Severely sprained my ankle -- damaging nearly every ligament in the joint... leaving me with very limited mobility on crutches...
2. Fallen down due to this limited mobility in combination with Madison already having received a blistering 16.5 inches of snowfall for the season. (This is only marginally below the pace from last year's 100+ inch winter)...
3. Had a violent case of stomach illness that has pretty much insured I won't ever desire the Asian Noodle dish from Noodles again...
4. The aforementioned ankle injury occurred during a heated basketball game, which given the severity of the sprain, may be the last truly reckless and wild bball game I will ever play... a dream smashed :-(
5. Gotten very far behind in my reading and blogging... which given all of the time away from work seems somewhat hard to believe, but as I age, I start to understand and grasp at what all this "being sick" truck is about.

So a shitty month, huh? Well, actually, it isn't that bad. Given my fortunate position in the job market, I have not missed being paid a single day though I've been out as much as in the office this month. On top of that, I haven't had to worry about the medical bills associated with this injury and illness, as I am fortunate to be covered by good health insurance. I haven't felt insecure about losing my job in the current economic crisis and I haven't had to worry about my place at work being undermined by being out ill... Honestly, lying at home this past week, I realized how lucky I am. It is a tough world out there... hope you each are finding your way through...



As I walk on
This wicked world
Searchin' for light in the darkness of insanity.
I ask myself
Is all hope lost?
Is there only pain and hatred, and misery?

And each time I feel like this inside,
There's one thing I wanna know:
What's so funny 'bout peace love & understanding?
What's so funny 'bout peace love & understanding?

And as I walk on
Through troubled times
My spirit gets so downhearted sometimes
So where are the strong
And who are the trusted?
And where is the harmony?
Sweet harmony.

Cause each time I feel it slippin' away, just makes me wanna cry.
What's so funny 'bout peace love & understanding?
What's so funny 'bout peace love & understanding?

So where are the strong?
And who are the trusted?
And where is the harmony?
Sweet harmony.

Cause each time I feel it slippin' away, just makes me wanna cry.
What's so funny 'bout peace love & understanding?
What's so funny 'bout peace love & understanding?
What's so funny 'bout peace love & understanding?

Jackass Journalism Awards...

Welcome to the first ever of my sporadic awards to be given at intervals of my choosing...

"Best Op-Ed piece regarding Obama's election"

There were a number of possible nominees, including pretty much anything found in the Washington Times or the National Review (especially online). But, after searching high and low for the best opinion piece related to the recent election I found it was indeed almost the Washinton Times -- just add the Herald, found back in Daviess County. The highly esteemed and venerable Tim P. breaks out the whopping (and prayer) stick with a combination of red-baiting, ad hominem, appeals to fear, and a red herring to boot. Just a little taste for you...

Make no mistake about it: A Barack Obama-Joe Biden administration means higher taxes for everyone, vastly increased wasteful government spending, defense budget cuts, an increase in terrorism, millions more unborn babies murdered and judicial activism run amok, which will threaten the liberties of every American.

The Bible states that God ordains the leaders of all nations, whether they be good or bad. As a Christian, I have an obligation to pray for the leaders of our country, including the president, Congress and the judiciary.

Not only will I pray for safety and good health for our national leaders, but also for a miracle in their hearts and minds. I will pray for a miracle in which they will turn away from socialism and liberalism and toward the conservative path of liberty and prosperity.

Now that would be a change I could believe in.

..but you really need to read the entire thing to appreciate the beauty of this op-ed piece and to fully comprehend how this was the hands down winner for the the innagural JJA!!! Congrats Mr. Pinkham.

death by shopping...

The United Food and Commercial Workers Union Local 1500 is chastising Wal-Mart for allowing a death on Black Friday in one of their stores.

"This incident was avoidable," said Bruce Both, president of the United Food and Commercial Workers Union Local 1500, the state of New York's largest grocery worker's union. "Where were the safety barriers? Where was security? How did store management not see dangerous numbers of customers barreling down on the store in such an unsafe manner?

Avoidable? No kidding! Death by shopping... that has to be seen as some kind of sick indication of our society... Wal-Mart should not be given a free ride on this, but seriously, this could have happened a lot of places from the little I've seen of Black Friday shopsotic behaviour. Can the deal be that good?

green gloves...

are oh so nice.



Thanks to Ken for tuning me to a The National, a band that yields existential metaphysical feelings....

The Blame Game...

I have always been fascinated with America's love of casting blame, especially in such a Christian society. This week's Bagehot column in The Economist tells us that Britain has a similar finger-pointing complex. I could devolve into my own thoughts on the matter, but honestly, Bagehot couldn't really be more right on: at length:

As well as vengeful and primitive, the kind of blame swirling around Britain is also, in its way, naively optimistic. It contains a fairy-tale idea of the future: if the guilty are identified and punished, it (whatever it is) will never happen again. Delicate judgments about risk—such as the risks of taking a child into care versus the risk of leaving him with his parents—will never again be miscalibrated; emergencies will never yield mistakes; criminals will never outwit the authorities; the tastes of editors will never lapse. There will be no accidents and no human error. (In a way, blame is an inverted form of deference: it implies a faith that the authorities and experts and leaders could be impeccable.)

There is even, perhaps, a faint trace of magic in the blame syndrome. Somehow, subliminally, blame may seem to mend not only the future but the past too. Finding and removing an offender can sometimes make it feel that his crime has been not only avenged, but undone; that time has been expunged.

None of which is to deny that blame can be useful. Indeed, it is morally vital: to excuse individuals of blame, to separate actions from consequences, is to deny their autonomy. Blame is a key component of progress. If it is not attributed and accepted where it is due (as it may well be for some of those well-meaning outsiders involved in the Baby P case), failings go uncorrected. Blame is one of democracy’s gifts and virtues; a society without blame and accountability is doomed to stagnation and misrule.

But an excess of blame—blind and unthinking as it often seems—can be as dangerous as a deficit of it. Vitriolic blame can wreck morale in institutions such as hospitals (or, indeed, in social services). It can inhibit decision-making and worthwhile risk-taking. And it can be both intellectually lazy and delusional. The wrong kind of blame reflects a false, dangerous simplification—and a false, childish hope.

Interesting ad...

While perusing the weekly delivery of The Economist (oh, that bastion of true liberal sensability, I know!), I stumbled across a very interesting ad on page 47.
The ad below is not the exact one from the mag, but is eerily similar and, therefore, makes this whole campaign more disturbing. See if you notice anything at all odd about this ad campaign for Korea Air...


Maybe it is just me, but I immediately saw a mushroom cloud in the imagery. Just about the last thing I can imagine the marketers wanted me to think about when deciding whether or not to fly Korea air and possibly drop in on Seoul for a visit...
I may be crazy, but how did this get through the ad approval chain?

OMG! Obama is a Muslim...

Or so this beefcake of a pastor from Wichita is wont for us to believe. I found this kind of amusing, until I realized that this guy just got some time on CNN (CNN!) for his whack job actions... Wow.

Unfit parents...

Former Madisonian Dan Savage appears on today's NYT Op-Ed page with a column on the success of hate amendments. He decries the approval of these amendments in Florida, Arizona and, remarkably, California. Savage points out, however, that despite how horrible these amendments to a state's constitution are, the looming issue may well be the approval in Arkansas of an "unfit to parent" intiative.

That state’s Proposed Initiative Act No. 1, approved by nearly 57 percent of voters last week, bans people who are “cohabitating outside a valid marriage” from serving as foster parents or adopting children. While the measure bans both gay and straight members of cohabitating couples as foster or adoptive parents, the Arkansas Family Council wrote it expressly to thwart “the gay agenda.” Right now, there are 3,700 other children across Arkansas in state custody; 1,000 of them are available for adoption. The overwhelming majority of these children have been abused, neglected or abandoned by their heterosexual parents.

Savage offers more on what may lie ahead in the "pro-family" groups, as they find another issue with which to lambast the "other." I am completely confident that I am on the correct side of this issue, but I admit, with each successive new law and amendment I quiver at the lack of compassion and understanding that undergirds our American society.

Most ominous, once “pro-family” groups start arguing that gay couples are unfit to raise children we might adopt, how long before they argue that we’re unfit to raise those we’ve already adopted? If lesbian couples are unfit to care for foster children, are they fit to care for their own biological children?

The loss in California last week was heartbreaking. But what may be coming next is terrifying.

This may seem completely preposterous, and unlikely to pass, but these groups have been able to put some ludicrous issues on the ballot (i.e. Colorado's human at conception amendment). And to think that these issues won't continue to be exploited by hate mongers is to be naive. This is just another point against a corrupted religious society, whereby tolerance, equality and love are pushed aside in the name of fear-mongering, discrimination, and clean-old-fashioned hate.

Don't fret my Elephant friends...

The Donkeyman knows about a place where you can always find some lovin. It is important to point out, however, that despite Mel-Anon's strong desire, Daviess County did not win the title for strongest support of McCain (Kosciousko won). The DC maintained its' silver spot, but gave away a golden opportunity by giving away 7 points from '04.

Inequal offenses..

Today's NYT OP-ED featured a disturbingly odd piece by Dowd.

How could the White House be classy when the Clintons were turning it into Motel 1600 for fund-raising, when Bill Clinton was using it for trysts with an intern and when he plunked a seven-seat hot tub with two Moto-Massager jets on the lawn?

How could the White House be inspiring when W. and Cheney were inside making torture and domestic spying legal, fooling Americans by cooking up warped evidence for war and scheming how to further enrich their buddies in the oil and gas industry?

How could the Lincoln Memorial — “With malice toward none; with charity for all” — be as moving if the black neighborhoods of a charming American city were left to drown while the president mountain-biked?

How can the National Archives, home of the Constitution, be as momentous if the president and vice president spend their days redacting the Constitution?

Good ole Glenn Greenwald does a much more thorough job on deconstructing the lunancy that poses as balanced journalism, but I felt compelled to post the text here. I don't understand how one could argue oral sex is even remotely congruent to running roughshod over the Constitution. But, of course, I don't understand this crap either.

I have been driving from Madison to Indianapolis this evening, so I must have missed the fact that Rahm Emanuel has accepted the chief of staff position in the Obama administration. I don't know if he really thought about it much, but I think this is a fairly solid choice. Rahm isn't going to shake up the world, but he does know enough of the inside baseball to give a good solid nudge to the process when need be. He is in many ways the prototypical fixer... which is what any CoS worth their salt is at the core.

Sarah Palin voted earlier this morning in her hometown of Wasilla. When asked if she voted to re-elect convicted felon Ted Stevens she said:

“I am also exercising my right to privacy, and I don't have to tell anybody who I vote for, nobody does, and that’s really cool about America also,”

Right to privacy, Sarah? Is that in the Constitution? In them there penumbras? How far does this right to privacy extend?

E-Day...

So, at long last election day has arrived. It seems like only ten years ago that we got started on this campaign, and now the day for casting the final ballots has arrived. I hope to be able to follow the results and news as the day progresses, but given my workload today, I probably won't be able to put much thought into it until this evening.

Some of the things I'll be watching:

1. Can Obama tilt North Carolina or Indiana? Even more intriguing is the thought of North Dakota, Montana,

2. Will all of the early votes (63% of 2004 total votes) in Georgia put the state in play? Will all of these new votes translate into an upset in the Senate race, potentially pushing Chambliss out the door?

3. Will Virginia really break for Obama by more than four points?

4. How many voter fraud accusations will be made?

5. The biggest bellwether will likely be Ohio, which very recent polls seem to be showing a tightening race. McCain's ground game has ratcheted up in Ohio over the past week, so this could significantly effect the race.

6. Ballot initiatives. A Californian hate amendment, abortions being outlawed in South Dakota, etc.

7. Will Steve Kagen hold off John Gard in Wisconsin's 8th? This may not be of national import, but I did some door knocking up that way this past weekend, so I'm interested to see how it turns out.

8. How many times will I check election coverage at work today? O/U at 23.

9. How many EV's will Obama end up winning? O/U 340.

10. How many Senate seats will the Dems control (including Leiberman) after today? O/U 57.

11. How many House Seats will the Dems control after today? O/U 260

I think I would take the over on #8 and #11. #9 is really tearing me up, as one minute I'm thinking the early votes and organization will drop a sick total for Barack, like 385. The next minute, I get worried about the reliance on young voters and other constituencies who have historically high flake rates. Oh hell, I'll take the over and look like a fool when he doesn't break 300... As to number #10, I'm going with the push at 57, as I just not convinced Chambliss will lose, and Kentucky has been re-GOP-ified recently.

The first amendment...

Greenwald today on Palin's take on the First Amendment.

This isn't only about profound ignorance regarding our basic liberties, though it is obviously that. Palin here is also giving voice to the standard right-wing grievance instinct: that it's inherently unfair when they're criticized. And now, apparently, it's even unconstitutional.

According to Palin, what the Founders intended with the First Amendment was that political candidates for the most powerful offices in the country and Governors of states would be free to say whatever they want without being criticized in the newspapers. In the Palin worldview, the First Amendment was meant to ensure that powerful political officials such as herself would not be "attacked" in the papers. Is it even possible to imagine more breathaking ignorance from someone holding high office and running for even higher office?

Friday afternoon public service announcement...

Safe sex is a good thing. I am not one to care how we get it on... as long as we can get it on. Well, there are some interesting ideas on how to make this happen out there.

5. Spray-on protection

Since his teens, Jan Vinzenz Krause struggled to find a condom that fit correctly. He thought the pursuit of the perfect prophylactic was hopeless -- until he went to the carwash.

Inspired by the spray-on soap and wax, the German Krause developed a spray-on latex condom, which he claims always fits perfectly and feels natural.

However, many men find the design off-putting; the spray-on condom comes in a hard phallic case.

Men slide themselves into the cylinder and layer on the latex, providing full coverage.

The Jolly Joe, as Krause dubbed it, frightened many men during the testing phase -- they only put the case on their fingers. (Spray on gloves anyone?)

Others felt the loud hissing wasn't sexy and the latex takes too long to dry -- three minutes.

Krause explains to Time, "It needs to be ready in five to ten seconds." So for now, Krause is waiting for a quicker-drying latex.

Uh, yeah three minutes is a bit too long Mr. Krause. But keep trying hard...

Early Voting in Madison

As of yesterday, approximately 26,000 early votes had been cast in the City of Madison. This is out of about 180K registered voters. With three more days of early voting left, and probably 3K more absentee ballots to arrive via the mail, it is entirely possible that 20% of the registered voters in Madison will have voted prior to the 4th.

I'm wondering what turnout percentage will be in Madison this year, as it may chase a record.

I'm a member of the elite monied class, or a libertarian...

Or, so I must deduce from the my favorite lefty, Mel-Anon's post today, based upon my subscription and weekly cover to cover reading of the Economist. I have spent most of my morning trying to figure out where this money may be found. I'm also enjoying the thought of my new found elite status.

Nichols at the Nation is using this endorsement to show the McCain/Palin socialist smear doesn't hold water. In making this point, he describes the Economist as "the journal of monied elites who prefer not to be lied to." I completely agree with the not being lied to portion, though once again I'm still trying to find my money and my elite status.

A newsmagazine that supports universal health care, gay marriage, significant investment in education, good governance and democracy... yeah, totally sounds like an elitist corporate shill to me...

Godless Americans...

The battle for North Carolina's electoral votes is definately hot, but not as sizzling as the crap throwing going on in the race for the Senate seat. The race features incumbent Elizabeth Dole facing off against State Senator Kay Hagan. The campaign has been recently rated as a toss up, and with such a race comes the mud. The newest issue, and the one that got my attention, is that Hagan is filing a lawsuit against Dole for a campaign ad that calls her "godless." From the ad:

The ad then shows members of the group, which promotes rights for atheists and the separation of church and state, declaring that neither God nor Jesus exists. "Godless Americans and Kay Hagan," the ad continues. "She hid from cameras. Took 'Godless' money. What did Kay Hagan promise in return?"

Well, one could hope that she has promised to not let religious dogma influence public policy, but alas, this is America and that would be far too enlightened.

Who cares about Colin???

So Obama has Powell and Francis Fukayama endorsing him, so what? A bigger endorsement in my mind has just come in from across the pond... The Economist has officially endorsed Obama. This comes from one of the most respected newspapers (or, magazine if you will) from around the globe. It also comes from a publication that is strongly anti-protectionist and pro-globalization. This should reassure some who may have been partially convinced of the "Obama as socialist" line from the McCain camp.

So Mr Obama in that respect is a gamble. But the same goes for Mr McCain on at least as many counts, not least the possibility of President Palin. And this cannot be another election where the choice is based merely on fear. In terms of painting a brighter future for America and the world, Mr Obama has produced the more compelling and detailed portrait. He has campaigned with more style, intelligence and discipline than his opponent. Whether he can fulfil his immense potential remains to be seen. But Mr Obama deserves the presidency.

Letter to the President on Food Policy...

I am becoming increasingly interested in the web of food-agriculture-health-climate change policy, and found Michael Pollan's interview on NPR's Fresh Air to be quite enlightening. The original source of this interview is an open letter to the next president authored by Pollan, which appeared in the NYT magazine earlier this month.

Our agenda puts the interests of America’s farmers, families and communities ahead of the fast-food industry’s. For that industry and its apologists to imply that it is somehow more “populist” or egalitarian to hand our food dollars to Burger King or General Mills than to support a struggling local farmer is absurd. Yes, sun food costs more, but the reasons why it does only undercut the charge of elitism: cheap food is only cheap because of government handouts and regulatory indulgence (both of which we will end), not to mention the exploitation of workers, animals and the environment on which its putative “economies” depend. Cheap food is food dishonestly priced — it is in fact unconscionably expensive.

It is time to stop accepting the premise that food grown sustainably using the sun's power is more expensive. It is imperative that the negative externalities and implicit subsidies be considered when evaluating the true cost of this "food."

Lots more interesting stuff from Pollan can be found on his site. I would strongly recommend both The Omnivore's Dilemma and In Defense of Food. I love the title for In Defense of Food, as it echoes one of the best books ever written, Crick's In Defence of Politics...

World Series?

When is it? Oh, it is already happening?

Kudos to MLB and Fox for doing a great job of promoting it. Of course, with the Rays and the Phils, what can you do?

To be completely honest, I haven't watched more than five minutes of the series, but I have heard it said that "baseball purists" would love the series -- lots of productive outs and such... Well, I tend to believe I am a baseball purist, but the label is annoying, when certain commentators take it to the level that a "baseball purist" is only happy when the game is 1-0, or maybe 2-1 - with all runs being scored after a combination of at least three of these things: a walk, hit batsmen, stolen base, sacrifice bunt, sac fly, hard slide to break up a double play, taking third on a single to right, suicide squeeze or a groundball to the right side with a runner on second. Don't get me wrong, I love all of these finer points of the game, but what is wrong with a home run from time to time (or, even better, a triple)? Seriously, when did it become illegal for a baseball purist to hate the long ball? It is a very exciting and impressive feat to smash a 92 mph slider over the wagon gate in left... I think what gets me on this, is that when a star player isn't hitting well and he manages to do one of the listed things above it becomes a "he is doing his job" mentality in the broadcast booth. Well, no, Evan and Carlos shouldn't be looking for a sac fly (those will come), they should be trying to hit the ball hard for extra bases... Oh well, this got long, but I really thought John Miller went overboard via ESPN radio with this discussion last evening.

Inequality and lack of social mobility...

A couple of my more recent posts have focused on inequality comparisions between America and other developed nations in Western Europe. As part of my posts, I discoursed that it was somewhat absurd to make a statement along the lines of "Social mobility is at a more developed level in Germany than the United States." I thought I should, in all fairness, offer a rejoinder to myself after reading this article in this week's Economist. The article focuses on Britain, but many of the same statements can be made about America.

Income is distributed more unequally than in most OECD countries, as measured by the widely used Gini coefficient (see chart)—and more unequally than in any rich one except America and Italy. Nor is equality of opportunity much in evidence: a son’s income depends more strongly on his father’s in Britain than in any other country for which the OECD has data.

I am still not totally convinced that this single factor (correlation of father to son's wages) is adequate in measuring social mobility, but it is an interesting little article, and I deserve to have to eat some of it.

Also interesting from this week's print edition, is an article on the "axis of diesel; Iran, Venezuala and Russia.

In sum, Iran, Russia and Venezuela are all likely to be left short of cash—and facing a diminution in their international clout. “Never confuse brilliance with a bull market,” goes a Wall Street saying. The leaders of the oily trio may have thought high oil prices were an adequate substitute for good governance. In many quarters, the difference is now painfully clear.

I'm interested to see how these three respond to this rather sudden reduction in monetary power, especially Iran - given the looming elections next summer.

Gini coefficients...

To follow up on my last post, where I may have gotten a little ruffled by Michaels' piece in the NLR, I wanted to point readers to a data source for international economic data. The OECD is an international organization, based in Paris, that offers lots of access to data and literature on many economic topics. The OECD just posted a report on income inequality in developed countries, which I look forward to reading. While quickly perusing the report, I did a spot check on the OECD's Gini estimates, and what did I find? Estimated Gini's for selected countries (mid-2000's):
Before Taxes and Transfers:
Germany - .507
France - .482
United States - .457
Denmark - .417
United Kingdom - .460
Italy - .557

After Taxes and Transfers:
Germany - .298
France - .281
United States - .381
Denmark - .232
United Kingdom - .335
Italy - .352

The different values here show that, in nearly all developed countries, tax policy redistributes income and thus, increases parity. Of course, the amount to which this redistribution occurs does vary significantly. Same direction, different degree.

Recall, from Michaels (linked above) --

A standard measure of economic inequality is through the Gini coefficient, where 0 represents perfect equality (everybody makes the same), and 1 perfect inequality (one person makes everything). The Gini coefficient for the us in 2006 was 0.470 (back in 1968 it was 0.386). That of Germany today is 0.283, that of France, 0.327.

Obviously he was pulling his data from a different source, but doesn't it seem like just maybe he was being selectively misleading by reporting what is likely the US's Gini prior to taxes and transfers and France's and Germany's almost positively after? I don't doubt that there is a truly important point in criticizing America's policies that have allowed for an acceleration of income disparity, but I don't think the "cause" is helped by misleading statistics and inciting rhetoric (i.e. Move to Germany for the American dream).

Equality and neoliberalism...

Ken at Mel-Anon had an interesting post this morning on the relationship between identity politics and inequality. I am sympathetic to many of the arguments made by leftists that we must reduce our focus on identity traits and focus more on socioeconomic status. I am, however, not willing to go with Walter Benn Michaels to this level:

"It is neoliberalism, not racism or sexism (or homophobia or ageism) that creates the inequalities that matter most in American society; racism and sexism are just sorting devices."

I will be the first to admit that neoliberalism has an array of faults, not the least of which is instinctively moving to the muddled middle on many policy issues without much forethought. I don't believe, however, that it is wise to claim that racism and sexism are "sorting devices" and are not part of a real social issue. It is my belief that we can combat sexism, racism, bigotry and inequality all at the same time. The key is education. Both access and equality. Through whatever means work... be it vouchers, more public funds, higher taxes, etc. One area that I definitely feel is critical is access to university education. This means reinvigorating the Pell grant system, upping the ante on programs like Teach for America and such. A key part to a successful change in our educational system is for entrenched ideologues to rethink if their position is really advancing access and quality of education, or merely toeing the party line (and there are lots of party lines in this field).

More from Michaels:

A standard measure of economic inequality is through the Gini coefficient, where 0 represents perfect equality (everybody makes the same), and 1 perfect inequality (one person makes everything). The Gini coefficient for the us in 2006 was 0.470 (back in 1968 it was 0.386). That of Germany today is 0.283, that of France, 0.327. Americans still love to talk about the American Dream—as, in fact, do Europeans. But the Dream has never been less of a reality than it is today. Not just because inequality is so high, but also because social mobility is so low; indeed, lower than in both France and Germany. Anyone born poor in Chicago has a better chance of achieving the American Dream by learning German and moving to Berlin than by staying at home.

This paragraph bothers me, quite a lot. I think it bothers me so because I tend to agree with most of the basic premise of the argument - that socioeconomic inequality in the United States is a major issue - but this paragraph does little to enlighten this point. Let us deconstruct a bit: First, the Gini coefficient is not really a standard measure of inequality. It is a measure of income dispersion, but - as with most single stats - a failure to understand the underlying data makes its value fall significantly. I actually believe a review of the underlying data relating population percentages to income percentages in a ratio analysis based on the Lorenz curve quintiles would be interesting, and likely aide the point being made. Additionally, the Gini coefficient should only be compared across data that uses the same premises. The primary example here is that in the US benefits (health care) are not normally included in gross income computations, while in many European nations they are. What is the effect? Well, the cost for health insurance coverage offered by a single employer is likely the same for each employee (no matter how much that employee makes unless they had a progressive co-payment, novel?). How big of a difference this makes is debatable, but to use the Gini with no qualifications as a clear numerical comparison between nations is a bit overzealous.

Now to the part that is crazy -- Of course Americans and others love to talk of the American Dream, because it is real and a motivating factor for lots of people. To say that the dream is less of a reality today than... EVER, is completely bunk. Tell that to the generations of, yes, women and minorities that had NO chance to live the dream. To make such an inflammatory and patently untrue statement in what was already a fairly strongly opined piece is to, in my opinion, beg for criticism. As to the social mobility, I would point to the paragraph below, which highlights that Germany still makes decisions that greatly effect a child's ability to be mobile at age ten. Additionally, both France and Germany have very significant issues with immigration and reconciling their societies to the influx of Islamic immigrants. (I have little doubt that there is a lot of xenophobia here in the US.) To say that anyone born poor in Chicago has a better chance of achieving the American Dream in Germany is, to say the least, a big stretch. I have little doubt that they would receive a much better social safety net (which is good, and something the US must work on.), but there are lots of costs that come with that trade-off. I remind you, there is a reason the term is "American Dream." America is by no means perfect, and the growing inequality underlying the piece by Mr. Michaels is a real subject for discussion, but to devolve into a "America is the bastion of evil" mentality is, perhaps, a bit premature.

Before going to far with the Germany is a bastion of equality, one may wish to review this week's Economist, which has an interesting article on Germany's attempt at education reform.

Germany is one of the few European countries that still divides children up at the age of ten. The cleverest go to Gymnasien, the main route to university; the ordinary are sent to Realschulen; and the dullards attend Hauptschulen, often breeding-grounds for disaffection.

The global economy...

The Economist offered an interesting and fairly detailed special report on the world economy in the October 9th edition. Not everyone will agree with all of their conclusions, but it is at a great disservice to yourself if you chose to not read the report.

Perhaps most enlightening for me was the section on commodities and speculators...

Contrary to what the critics of speculation suppose, the main task of futures markets has been to signal these fundamentals to firms and households, speeding up their adjustment to the changing balance of supply and demand for physical commodities. In the absence of such signals, it would have taken even bigger and more extended swings in the prices of physical commodities to bring supply and demand into balance.

In the end, the report recognizes that there is a need for additional regulation in certain areas of the economy (mostly the finance portion). It points out, however, that we should not get caught up in a nationalistic protectionist mindset, whereby many of the big net positives that have come to fruition under globalization are lost, as we retreat to an era of big tariffs and neo-mercantilism blended with government interventionism. Long, but good....

A successful multilateral strategy to staunch the crisis would also make it more likely that the world will rise to the second challenge: learning the right lessons. Too many people ascribe today’s mess solely to the excesses of American finance. Putting the blame on speculators and greed has a powerful appeal but, as this special report has argued, it is too simplistic. The bubble—and the bust—had many causes, including cheap money, outdated regulation, government distortions and poor supervision. Many of these failures were as evident outside America as within it.

New-fangled finance has its flaws, from the procyclicality of its leverage to its fiendish complexity. But the crisis is as much the result of policy mistakes in a fast-changing and unbalanced world economy as of Wall Street’s greedy innovations. The rapid build-up of reserves in the emerging world fuelled the asset and credit bubbles, and rich-world central bankers failed to counter it. Misguided monetary rigidity caused financial instability. Much though people now blame deregulation, flawed regulation was more of a problem. Banks set up their off-balance sheet vehicles in response to capital rules.

It is the same story with the spike in food and fuel prices over the past year. To be sure, commodities markets can overshoot—but rather than pointing the finger at speculators, governments should look in the mirror. Rich countries’ biofuel policies pushed up the cost of food. Poor countries’ food-export bans and fuel subsidies compounded the problems. In many ways today’s mess is a consequence of policymakers’ misguided reactions to globalisation and the increasing economic heft of the emerging world.

If markets are not always dangerous and governments not always wise, what policy lessons follow? In the aftermath of the crisis the battle will be to ensure that finance is reformed—and in the right way. The pitfalls are numerous. Banning the short-selling of stocks, for instance, makes for a good headline; but it deprives markets of liquidity and information, the very things that they have lacked in this crisis. Even if the easy mistakes are avoided, improving supervision and regulation is hard. Financial regulators must look beyond the leverage within individual institutions to the stability of complex financial systems as a whole. Wherever the state has extended its guarantee, as it did with money-market funds, it will now have to extend its oversight too. As a rule, though, governments would do better to harness the power of markets to boost stability, by demanding transparency, promoting standardisation and exchange-based trading.

Over-reaction is a bigger risk than inaction. Even if economic catastrophe is avoided, the financial crisis will impose great costs on consumers, workers and businesses. Anger and resentment directed at modern finance is sure to grow. The danger is that policymakers will add to the damage, not only by over-regulating finance but by attacking markets right across the economy.

That would be a bitter reverse after a generation in which markets have been freed, economies have opened up—and prospered. Hundreds of millions have escaped poverty and hundreds of millions more have joined the middle class. As the world reconsiders the balance between markets and government, it would be tragic if the ingredients of that prosperity were lost along the way.

McCain the attack dog..

It looks like McCain is going to be the attack dog for the final few weeks. What a way to secure a legacy for a guy who seven years ago was fairly widely respected...

Racist, prejudiced, whatever they are...

they sure sound stupid. I'll take all the berating someone wants to throw my way for being an intellectual elitist on a vast array of issues, but on this my friends, stupidity should not be tolerated as a valid belief.

“He’s neither-nor,” said Ricky Thompson, a pipe fitter who works at a factory north of Mobile, while standing in the parking lot of a Wal-Mart store just north of here. “He’s other. It’s in the Bible. Come as one. Don’t create other breeds*.”

How many people do you think they had to interview to find someone to say something so stupid, and then have their picture taken for the national paper of record? I would hope a lot, but Mr. Thompson undoubtably feels he is making a valid point, supported by the good word and his religion. Unfortunately for him, I would highly doubt that he could cite more than the old "unequal yoke" verse from Corinthians. The first problem with this basis is that the verse focueses on believers and non-believers, and only uses lightness and darkness as metaphor (oh no, I sound like an eltitist). Of course, another big detriment to Mr. T's lovely logic is the fact that all humans are, acccording to the Bible, descended from one couple... ergo, if one of us can't "come as one," then none of us can.

* Breeds? And I thought race was a stupid term...

Coast to Coast...

Obama is bringing the most. Well, almost coast to coast anyway. According to Pollster (and others), the race in North Dakota is entering toss up status and Montana has moved from Safe to Leans Republican. Needless to say if Obama wins either of these states, McCain will lose. I am honestly shocked that a Donkey could carry an (almost) linked chain of states from coast to coast. Of course, this will stay almost because Idaho ain't likely to change and that 44 mile strip of land will likely stay deep red. Also of note with regard to electoral math is that Obama is starting to hit 400 electoral votes with more and more regularity. 400 is a number not seen by a Dem since '64, with the closest being Clinton's 1996 election with 379.

Krugman wins the Nobel Prize...

Congratulations to Paul Krugman for winning the Nobel Prize in Economics. I try to read all of Krugman's columns, and have to say he has enlightened and enlivened a number of issues for me. Perhaps more than any other, he has consistently reminded us that health care must be fixed.

So congrats Paul, and keep up the good work.

North Dakota...

North Dakota is now being considered by some to be a toss up. This is incrediably bad news for McCain, as Bush topped Kerry in ND by nearly a two to one margin. This election may end up being closer than I think, but I'm thinking Obama may pull over 350 ev's. Given that as a possible target, without a huge sea change, I don't see McCain doing more than making this interesting.

I need to start reviewing the Senate, as it has been estimated that after the election the Dems will hold around 57-59 seats (including the independent and the Joe party with the Dems). I'm wondering if a couple of the lean GOP races might be tiltable. If the Dems end up with a filibuster proof majority, clear control of the House and the Presidency... they better bring the governance. I know, I know, not sexy, but very necessary.

Religulous...

I went to a Sunday matinee at the lovely Sundance 608 to watch Bill Maher's Religulous. Maher pulls few punches when attacking religion via "asking questions," though he doesn't make as many counter assertions as many of the "New Atheists" cohort. Maher's basic conclusion is that the human race must outgrow religion and dogma before it kills us. It is an entertaining movie, though each time I engage this topic I get saddened, because I don't know which is worse... A. People really do question the ridiculous beliefs the hold, but are scared to say them, or B. they really actually believe them.

Perhaps even more frustrating from the film, was the continuous stream of "it's politics" statements by religious figures when discussing issues between religions. I'll be a Crickian here, and defend politics from this lunacy. The major area where these statements came up were with regard to issues in Netherlands between Muslims and other Dutch citizens. Politics is not ever murdering a film maker in the street, or issuing a death sentence against a novelist. Ever. Period.

Trailer (not as good as the movie):

Greenspan's reckoning...

A very interesting article on Greenspan's legacy is in today's NYT. Maybe we should have known better than to trust a hardcore follower of Rand's objectivism, especially one who gets praise from Phil "ya'll a bunch of whiners" Gramm.

“You will go down as the greatest chairman in the history of the Federal Reserve Bank,” declared Senator Phil Gramm, the Texas Republican who was chairman of the Senate Banking Committee when Mr. Greenspan appeared there in February 1999.

I'm admittedly (and proudly) no expert on Rand, but I thought there was something about the selfishness-without-a-self mindset, whereby individuals don't act in a rational way to make themselves better humans, but effectively just rape and pillage... Of course, noone would have ever thought that a bunch of nice guys in suits and ties could act like a hedonistic mob.


Quote of the Day, which is also the leader to the article:

“Not only have individual financial institutions become less vulnerable to shocks from underlying risk factors, but also the financial system as a whole has become more resilient.” — Alan Greenspan in 2004

Them pinko farmers...

Hardwick, Vermont is uniting around food to save the town. It is an interesting read on how collaboration between farmers is growing the local ecoonomy. I'm especially interested in the concept of pooled capital. I think this may catch on... well maybe.

“Across the country a lot of people are doing it individually but it’s rare when you see the kind of collective they are pursuing,” said Mr. Fried, whose firm considers social and environmental issues when investing. “The bottom line is they are providing jobs and making it possible for others to have their own business.”

Uh oh! He just said collective, in reference to farms... this will likely not help the local food movement.

Economic reality...

Leonhardt has a solid column in the Business section of today's NYT regarding the perils of ignoring economic reality. He points out that the impact of the all the bailout (or rescue, if you are JM) plans on the federal budget will likely be in the hundreds of billions over the next few years. This obviously doesn't help the federal budget deficit or debt load. So, what do we do to fix it?

The short answer is that the budget problems the country seemed to have a year ago are now even worse. Next year’s deficit (relative to the economy’s size) will probably be the biggest since 1992, and maybe since 1983. Taxes will have to rise or government spending will have to fall, if not both.

This significant increase in the deficit is importnat, but maybe isn't the area we should be focused on to avert the next big problem. There are a myriad of areas that could be seen as the next big issue for the feds, but it seems to me (and Leonhardt) that it starts with health care.

Despite everything, the biggest fiscal problem remains, far and away, health care. Based on the rate that medical spending has been rising, the Congressional Budget Office forecasts that Medicare and Medicaid will take up 10 percent of G.D.P. within two decades, up from about 4 percent now. In today’s terms, that would be the equivalent of adding at least $900 billion to the deficit every single year, in perpetuity. It makes the cost of the bailouts look like a rounding error.

When it comes to health care, we have a situation that is blatantly unsustainable. With the right choices, we can prevent that. But so far, we instead seem to be hoping that the situation will magically resolve itself, which is a recipe for big problems and perhaps even a crisis.

Let’s see. That doesn’t sound familiar, does it?

Also in today's Business section, is an article on the effect of the credit crunch on states and municipalities, which is an area of personal interest that you just don't normally see much coverage of in the NYT. The ability of less than perfectly rated municipalities, states and school districts to raise short term revenue is a huge deal, as a few failures to make payroll and a lot of stuff stops getting done. Who will bailout the government? Uh... the government?

The media calls it a tie...

At least the first few folks I've heard talk claim this. Not to suprising, considering the media can't declare a winner only two minutes after the debate ends. They need me to stick around for at least another thirty minutes.

"That one" is the issue on CBS right now. I thought it made him look silly, but I think CBS is alluding to the potential of their being some racial overtones. Michael a member of the CBS focus group thought the "that one" was childish. Other members seem to agree, and this may be a much bigger thing than what i thought.

Live blogging the debate...

"Bailout, when I believe it's rescue." McCain just before going off on the "I rode my horse back to Washington and showed them motherf'ers how to maverick up on this here rescue package.

I am also anxious to see if Brokaw keeps scolding the candidates for taking too long on the follow up discussion minute.

This is my first live blogging experiment, so I think I'll just use the comment thread.

But Reagan said...

Krugman's post shows the complete lack of forethought of the Republican campaign in just throwing out Reagan quotes left and right (or mostly right, I guess). I really wonder if the GOP thinks a Reagan quote, any Reagan quote, is golden. Reagan undoubtedly had a big influence on America, and our government, but I'm wondering if the right isn't clutching to the last big thing because they can't seem to grasp the current situation and don't have a new big thing. I may be proven wrong, but I believe we are going through an inflection point election cycle, whereby core groups of citizens either change allegiance or establish one for the first time. Of course, voters in today's America are much more fickle than in the past, so even if it appears a sea change is coming, the left could still completely screw the pooch and give it away in 4-8 years.

October baseball...

and for the second year in a row, the Redbirds are at home watching from the couch. Given the performances of the two reps from the NL Central, I do believe that the Astros and the Cardinals would have represented better. Hell, even the Reds might have avoided a sweep at the hands of the Dodgers (ok, probably not). Speaking of the Dodgers, man do they look good. I am still not convinced they have the ace pitcher that helps an October run immensely, but of course another team that won fewer than 85 games recently marched through October without an ace (ah... 2006). I would have to give the Dodgers the odds on favorite in the match up versus the Phils, so maybe we will see another NL champ take the Series after struggling mightily just to break 500 for most of the year. This is, in some ways, an indictment of the expanded baseball playoffs, because in all honesty should a team that wins 84 games make it to the postseason? But, alas, they do. And when they do, they are just like any other MLB team, which means they can beat anybody else in the league on any given night.

On the Junior circuit side of things, the ALCS will probably pit the Rays against the Red Sox. I sincerely hope the Rays can pull it off, though so help me if they don't sell out a Series game in Tampa, MLB should automatically relocate the franchise... maybe to Montreal. If Beckett is healthy, however, the Red Sox quickly become a team that is hard to bet against. The Rays are very talented, but the lack of experience on the team is really quite astounding, and one has to wonder if that will be overcome.

Buffett braves the crisis...

An interesting article in today's NYT compares Warren Buffet's current actions with those taken by JP Morgan in the early 20th century. I wasn't around for JP's insights and work, but I have to admit there are few people who seem to get business better than Buffett. I've read a couple of bios on the Sage of Omaha (a new one just released is the first authorized one, so I'll have to pick that up), and it seems clear to me that the guy just gets it. You can hate on him all you want for being extremely rich and appreciating the profit motive, but it is important to recognize he isn't what you might envision when you think of the personality of the world's richest man. An example of his mindset and values can be gleaned in the final few paragraphs of the article:

As far back as 2003, Mr. Buffett had warned that the complex securities at the center of today’s troubles — once so profitable, but now toxic — were “financial weapons of mass destruction.” These securities were engineered by the math quants on Wall Street, and in the interview Mr. Buffett expressed his disdain: “Beware of geeks bearing formulas.”

To help pay for the rescue, the government should raise taxes on the wealthy, Mr. Buffett suggested. “I’m paying the lowest tax rate that I’ve ever paid in my life,” he said. “Now, that’s crazy.”

A rich guy who recognizes he isn't paying his far share and that he could pay more without the world ending? Can't be. I've been convinced that if you raise taxes on the wealthy then they will stop investing in anything, sit on their asses, and we will all suffer. Or, maybe Warren is right and the right wing pundits are wrong?

A blue economy...

The Dow Jones is off a few hundred points this morning, dropping it below 10K for the first time in almost four years. I vividly remember when the Dow crossed 10K for the first time in 1999, as I was required to track the market in high school History/Econ classes. (Ah those high school history classes, a wonderful memory. Especially when I recall a particularly astute conservative young man always pushing back against my evil liberal ideals.) It is hard to believe that in March that will have been ten years ago, and we seem to be spinning in place, at best. It is also difficult to understand how the market could have been at an all-time high of 14.1K just one year ago. Now we are down 30% from that peak, and it is entirely possible more losses are ahead.

A blue Indiana...

A blue Indiana is something I honestly didn't believe was possible without Bayh on the ticket. According to a lot of recent polling and trend data, however,Indiana is in play. Most camps/sites/experts till place Indiana in the Leans Republican column, which makes sense given the systematic and institutional nature of supporting the GOP presidential candidate in the state. However, the news on the ground is telling more and more stories like this one about Lafayette from the 538ers.

It seems to me that the McCain camp took for granted that Indiana was died in the wool red and in doing so never created the campaign structure that is needed towards the end of a race to close the deal with fence voters. Obama has an impressive campaign organization on the ground, and given the 29 days remaining may just be able to make Indiana interesting. It is an impressive feat in and of itself to even be talking about putting the Hoosier state in play, given it broke 1.5M to 950K in '04. To win, Obama will need to increase the Kerry splits in Lake, Marion and Monroe counties, as well as significantly eat into the huge Bush numbers in the seven donut counties around Indy. Those seven counties broke at above 63% in 2004. If Obama can carry Lake at close to 70%, Monroe and Marion at 65% and bring the donuts down to 53-55% he just might have a shot. Under any circumstance, I'm definatley excited about this race, and if nothing else I can watch to see if Daviess County can overtake Kosciusko for the most Republican in the state*.


I actually have trouble believing there are actually 2,500 people who voted for Kerry in Daviess County.

Wisconsin suicide rates...

are probably on the rise amongst sports fans. The Brewers spent the better part of two months worrying the shit out of their fans before finally squeaking into the playoffs. This was, of course, a momentary interruption of the Brewers fan's heart issues, as the wheels came off in rather short fashion. At least they outlasted the Cubbies, which I'm pleased to say are now 0 for their last 100...

The football news in Wisco the past two weeks have been even worse. The Badgers blowing a game in Ann Arbor in exceptional fashion last week was bad, blowing the win against the Buckeyes at home this weekend may be even worse. The Packers... well, it's hard to blame A-Rodg exclusively, but many are saying "If only we had Brett," and I have to admit this is starting to resonate with me.

Chipper Jones and John McCain...

are both punks.

Chipper for not playing due to a sore shoulder, while trying to ride out a 12 point lead for the NL batting crown over Pujols. Of course, we will see if Chipper comes back after Pujols catches him with the his continued fire run towards Chipper.


McCain for just being a jackass. I can't get over the lunacy that is the McCain economic plan. To catch you up --- Earmarks are evil, I hate earmarks and will make those who try to pass them famous, ergo I will give tax cuts to rich folks and this will make the world a much better place. And this is all related to the economic crisis..., but how, John?

Also, both Obama and McCain (honestly, much more so McCain) are driving me nuts with the poor little innocent Georgia bit. Come the hell on boys, Georgia ain't your innocent little sister here. Sure, Russia took advantage of Georgia, but Saakashvili kind of went looking for it.

Pakistan is the problem???

Or so says Hitchens. The most telling part of this column is the tacit endorsement that Obama has it right with regard to the need to leave on the table NATO's right to impinge on Pakistan's territory if need be. Also of note is the explanation of the name "Pakistan" itself, which is quite interesting.

I'm not sure that the U.S. is in the best position to argue for the need/right to impinge on Pakistan's turf, but if you accept that the war in Afghanistan is good, just, neccessary, or what have you - I think you would have to recognize that a primary reason the problems are escalating has to do with the Pakistani tribal areas. Of course, another issue in our protracted war in Afghanistan is highlighted in this month's Atlantic by Johnson and Mason. They point out that the counterinsurgency is thriving due to the NATO/American forces failure to properly address the local groups/clans as the primary arbiter of control in Afghanistan. They may just be on to something here.

Right Wing Orthodox...

Say what he will about the need to change Washington and how "greed" is causing the problems on Wall Street, McCain hasn't in the past and doesn't seem interested now in breaking with the right wing orthodoxy, who hold that derregulation is the answer to pretty well any economic question. Despite their resistance to government regulation, they don't seem to mind a government bailout now and again. Something like socializing the costs, while privatizing the profits.

But his record on the issue, and the views of those he has always cited as his most influential advisers, suggest that he has never departed in any major way from his party’s embrace of deregulation and relying more on market forces than on the government to exert discipline.

While Mr. McCain has cited the need for additional oversight when it comes to specific situations, like the mortgage problems behind the current shocks on Wall Street, he has consistently characterized himself as fundamentally a deregulator and he has no history prior to the presidential campaign of advocating steps to tighten standards on investment firms.

He has often taken his lead on financial issues from two outspoken advocates of free market approaches, former Senator Phil Gramm and Alan Greenspan, the former Federal Reserve chairman. Individuals associated with Merrill Lynch, which sold itself to Bank of America in the market upheaval of the past weekend, have given his presidential campaign nearly $300,000, making them Mr. McCain’s largest contributor, collectively.

History of supporting deregulation; takes advice from a key architect of the mortgage bubble (Greenspan); significant campaign donations from a failing financial firm; now that my friends is obviously setting the table for some REAL CHANGE.

Lies, Lies, Lies...

Krugman on the tenor of the GOP's lie infested campaign.

You're only telling lies, lies, lies...

Breaking us down with your lies, lies, lies...




Politics may not be pretty, but it doesn't have to be this baseless. Don't drink the Kool-Aid...

Hugo Chavez expels US Ambassador...

For those who have some hope that Hugo Chavez is more than an antagonistic authoritarian cloaked in leftist revolution, this isn't the best news.

But he said the presence of two Russian warplanes on Venezuelan soil for a training exercise "is a warning" to the rest of the world that Venezuela's allies include Russia and other countries.

Chavez added that, should any country in Latin America be overthrown, he would interpret that to be "the green light to undertake military operations of any sort in those countries, and restore power back to the people."

Expelling diplomats is only good for raising tensions in Latin America, as is the invitation of Russian warplanes into the arena. It would be nice to see a leader who is actually leading a socialist movement with coherence, but alas given Hugo's close relationship to authoritarian Russia and his near complete reliance on oil cash to stay afloat, I'm not sure he is the answer.

Flip flopper!!!

Mel-anon provides a solid, with his cogent point on the lunacy of "bridgegate," and how this really isn't a key issue. I cannot, however, to pliantly paraphrase the mythical George Washington, let a lie stand when it should go the way of the ole cherry tree.

The idea that Palin has always opposed the "bridge to nowhere" project is quite simply not true.



Feel free to dig into the record more if you wish, but please don't let yourself get persuaded that earmarks are somehow in the top ten issues for this election. Also, please point out the flaw in this argument when your pals make it -- you know that it isn't true.

I've always wondered...

how inflation effects "dollar" stores. NPR had the Last Word in Business on this topic this morning. Interesting... At some point, won't they have to go to the two dollar store? or the buck fifty?

Lost in exceptionalism...

It is not often that a book review makes me immediately place an order, but the Economist on Bacevich's new work, The Limits of Power: The End of American Exceptionalism sent me to Amazon straightaway.

He claims that the constitution has been perverted by the expansion of the presidency and by national security, at the expense of Congress. Concluding that America’s military power “turns out to be quite limited”, he argues that the country “doesn’t need a bigger army. It needs a smaller—that is, more modest—foreign policy, one that assigns soldiers on missions that are consistent with their capabilities..."

He expresses his judgments, some grumpy, some anguished, in sharp, epigrammatic language. “A grand bazaar”, he writes, “provides an inadequate basis upon which to erect a vast empire.” Americans have recast the Jeffersonian trinity—life, liberty and the pursuit of happiness—to read: “Whoever dies with the most toys wins”; “Shop till you drop”; and “If it feels good, do it.”

This could be very interesting. Maybe even enough so to get me to write a review?

McCain, Palin and the GOP

It has been a melancholic month or so here at the Donkey, but you really need to get over to Mel-Anon's site for his coverage on the Palin VP choice. The titles of the posts are alone worth dropping by... Junogate, genius! Perhaps the best post of the group on this topic is the analysis of shotgun weddings, which is an area of expertise for anyone from Montgomery Indiana.

What this means, of course, is that the kids born to these teenage mothers have to live with the fact that they were meant to be punishment for their parents' indiscretion. That seems like an awful lot to hang on a kid, since most people tend to resent their punishment. I'm not a psychologist, but I can't see how that's a positive situation.

I know that Obama has stated that the family is off limits, but this isn't about the daughter's actions, it is a much larger snapshot of the lunacy of the right wing moralists. By taking certain "moral" stances to be imperatives and uncompromisable, these folks flippantly ignore solutions to some of societies ills, such as unplanned pregnancies. It seems pretty obvious to me that offering safe sex education could signifcantly reduce the number of unplanned pregnancies, but of course if that succeeded the moralists may be forced to admit that their Victorian ideals are a bit dated...

It also seems obvious to me that McCain's choice is a rather lame sop to the social conservatives, who just couldn't get on board with a guy who had somewhat accurately posited that they were "agents of intolerance." To think that in 2000 I would have likely voted for McCain vs. Gore. I guess this shows how the will to power can drastically change a person's views.

The new world order cometh...

In case you thought globalization and the new world order were on the wane, you may wish to take note of this proposed change in Accounting standards. If you want a sure fire way to know how global integration is going, check out how we count the money... Generally, this is probably a good idea, as it will allow more comprability across nations.

The adoption of international accounting standards by the United States would move the world toward one set of standards, which should make it easier for investors to compare companies operating in differing regions, and make it easier for firms to raise capital in whatever market seems most attractive.

My primary concern, as mentioned in the article, is that the International Standards place a premium on Auditor independence and judgment.

In a world with more professional judgment, the auditors would be expected to tell companies that a given accounting treatment violates a standard because it produces a misleading result. Whether they would be willing to do that, and whether all would be equally willing, could become an issue.

This is not necessarily a bad thing, but when the American accounting industry lays claim to a number of scandals invovling auditors covering or tacitly allowing shady corporate activity, you may end up with unintended consequences...

Infrastructure leases....

Today's NYT Business section features an article on the increasing use of private investment in public infrastructure, such as roads and bridges. This method of financing public infrastructure, which often are in a severe state of disrepair, is becoming more prevalent as state and local governments have become the lead agencies of maintaining and improving these assets. These governments are facing declining or stagnating revenues, growing debt burdens, and a significant reduction in federal aide, leaving the option of going to the private market a much more desirable option than in the past. There are tons of questions that come with such a change, the most salient of which should be recognized by those in Indiana as the lack of popular support for such a deal. (My Man Mitch got hammered when he "sold" the toll road.)

I have a number of concerns about this type of leasing of public assets to private companies, but the primary issues are accountability and social equity in fees. The private sector, of course, assures the governemnts through "concession agreements" that tolls will only be raised by X amount and that service will meet a certain level. Despite these agreements, the reality is that once a toll road becomes managed by the private sector there is a very real loss of accountability on its operation. Additionally, once the government ceases to budget for improving that road, it is exceedingly difficult to work it back into already tight public budgets.

I will say that the rise of pension funds investing in these infrastructure assets, is less disturbing than private firms -- but then again, how will these pension funds respond if the project isn't allowing them to meet their target return rate?

The Convention is underway...

The Dems have kicked off the festivities in Denver...

Short reviews of what I've seen:

Nancy Pelosi - forced public speaker, never president.
Ted Kennedy - BAMF.
Craig Robinson - tall, looks like his sister. smooth.
Michelle Obama - articulate, kinda hot. uses hands too much.


Biden - nods a lot.

What is rich?

In today's NYT, Krugman asks the question of what is rich and what is middle class? Of course, the cynics answer is "rich = those who make more than me, middle class = what I make," but this is a serious question that doesn't seem to get much play. There are tons of factors that could be weighed in making a determination couched on a numerical cusp, but at the end of the day, it is more of a "feel" than a number. Krugman highlights just how each of the two candidates for president "feel" on this, by going back to the way each answered the question of "at what income do you move from middle class to rich?," posed by Rick Warren.

Mr. Obama answered the question seriously, defining middle class as meaning an income below $150,000. Mr. McCain, at first, made it into a joke, saying “how about $5 million?” Then he declared that it didn’t matter because he wouldn’t raise anyone’s taxes. That wasn’t just an evasion, it was a falsehood: Mr. McCain’s health care plan, by limiting the deductibility of employer-paid insurance premiums, would effectively raise taxes on a number of people.

I really do have to pick up the book "Richistan" by Robert Frank mentioned in this op-ed, as I've seen it cited quite often recently.

And down the backstretch we come...

The 2008 election is moving down the backstretch and into turn three, with Obama maintaining a 2-3 point average lead in the polls. This number, often quoted, seems a little silly to me, considering the fact that we award electoral votes on a state by state all or nothing (at least mostly) basis. The more significant number is 264, which according to pollster.com is the current electoral votes from states in which Obama has a quantifiable lead. This means that Obama would only need six additional e-votes to take the prize, which given the resource depth of the campaign should be doable. I personally think Colorado is going to be a bellwether state...

This portion of the campaign tends to really bore me, given the disproportionate amount of media coverage of the VP "race." The NYT offers an example of this type of coverage in a piece related to both candidates potential VP selections. I admit to some armchair punditry on the issue (I'm feeling Bayh and Pawlenty), but am amazed that the media covers claptrap from pundits on the issue, as if it were news...

Some Republicans said that Mr. McCain could still choose Mr. Ridge and get around the problem with social conservatives by assuring them that the vice-presidential candidate would support the position of the presidential candidate and the party, no matter his personal views.

Such a formulation would be unlikely to satisfy Rush Limbaugh, the conservative radio talk show host and longtime McCain nemesis, who on Tuesday sounded a siren for his listeners. “If he picks a pro-choice running mate, it’s not going to be pretty,” Mr. Limbaugh warned, adding that Mr. McCain would have “effectively destroyed the Republican Party and pushed the conservative movement into the bleachers.”

I have to question the intelligence (not the first time) of Mr. Limbaugh on this issue. Is it really possible to "destroy" the Republican Party by nominating a somewhat pro-choice candidate as VP? Or, is it more likely that the GOP could begin it's migration into the 21st century of acceptance of the rights of others not to be coerced into the action deemed appropriate by those in power.... Well, maybe that logic would destroy the GOP.

The 29th Olympiad...

I have admittedly watched more of the Olympics action than ever before, which is partially responsible for my lack of posting. For some interesting thoughts on the first half of the Olympics, I refer you to the incomparable Mel-Anon. Ken points out some of the same issues I have had with swimming coverage, especially with regard to the commentators extreme American bias. I also concur with Ken's assessment of the most pleasant story of the games thus far,

Usain Bolt: Best sprinting name in history, maybe the best sprinter in history. Bolt broke the world record in the 100-meter final Saturday night, and may have wholly shattered it had he not slowed up in the final 20 meters. And he has yet to run the 200, which is--gulp--his better race.

Bolt is just fun to watch.

I do have to break with Ken on giving an effective pass to the Chinese gymnasts age controversy, by claiming America has no basis for criticism given the Karolyi's dictatorial coaching style. I do believe that this story comes across like a whine, given it seems to be coming almost exclusively from American media sources and it really flared up after China edged out America in the team competition. I tend to believe these girls look significantly under 16, but hey in a country of 1.2 billion maybe you can find a lot of 75 pound athletic and strong girls... Of course, as long as the Olympic governing body chooses to use national passports for verification of age, this will likely be an issue. However, I believe there is a fairly clear distinction between extreme/hard training techniques and expectations and intentional disregard of established rules. To equate the two allows cheats to push off criticism through a relavistic out.


Additionally, race walking is not a sport.

August Recess...

In honor of our "DO NOTHING CONGRESS," who won't come back and pass some good ole reforms that would surely lower energy prices by 60%, I to am taking a summer recess. This partially to do with a current melancholic and apathetic view of the news cycle, and more so related to a very busy time in my professional life. I hope to be able to return to the April/May posting levels in September, but given the Cardinals failing, the end of the yummy food season and the beginning of the end of my mind turning to mush from McCain/Obama "energy" ads that may be a bit optimistic. While I'm gone, try to enjoy the summer and check out the Olympics, they are kind of awesome.

That ain't how we do it in Texas...

An interesting article on municipal recycling rates appeared in the NYT. The highlight (or not) of the article was the fact that compared to the national average of 32% waste diverted to recycling from the landfill, Houston diverts a whopping 2%. According to the Mayor, this low participation is due to the fact that the citizens are not so gung-ho on jumping on some liberal, goberment program....

“We have an independent streak that rebels against mandates or anything that seems trendy or hyped up,” said Mayor Bill White, who favors expanding the city’s recycling efforts. “Houstonians are skeptical of anything that appears to be oversold or exaggerated. But Houstonians can change, and change fast.”

The Debtor Society...

It isn't everyday, but occasionally Utilityman columnist David Brooks comes up with a big hit, like his column on our culture of debt in today's NYT. I quote at length below, but take the time to read this column,

Each time an avid lender struck a deal with an avid borrower, it reinforced a new definition of acceptable behavior for neighbors, family and friends. In a community, behavior sets off ripples. Every decision is a public contribution or a destructive act.

And now the reckoning has come. The turn in the market punishes many of those seduced by financial temptations. (Sometimes capitalism undermines the Puritan virtues, but sometimes it reinforces them.)

Meanwhile, social institutions are trying to re-right the norms. The government is sending some messages. The Treasury and the Fed are trying to stabilize the system while still ensuring that those who made mistakes feel the pain.

But the important shifts will be private, as people and communities learn and adopt different social standards. After the Depression, a savings mentality set in. After the dot-com bubble, a bit of sobriety hit Silicon Valley. Now it’s the borrowers’ and lenders’ turn. As the saying goes: People don’t change when they see the light. They change when they feel the heat.

The expectation of the average American citizen to be able to consume more than they produce has gone on too long. We must face the reality that is we are spending too much on too many unneeded things and services. One of the first steps is to start weening the younger generation away from the "I deserve it" attitude perpetuated by the Boomers. I know many Boomers would disagree, but they may be the lost cohort with regard to fixing themselves, so I propose getting proactive with the young folks that still have a much better chance of understanding how to positively impact society through adding more than you take.

As we evolve...

Hitchens always offers something to say and a brief review of the last three posts in his Slate "Fighting Words" column shows that he is two for his last three. The old curmudgeon can still hit a little, eh? The column dated 7/7/08 on the death of Jesse Helms is definately a double to the gap.

I make no apology for calling him a provincial redneck, because that, to be fair to him once more, was how he thought of himself and even described himself. It was a scandal that a man with so little knowledge of the outside world should have had such a stranglehold on American foreign policy for so long. He once introduced Benazir Bhutto as the prime minister of India. All right, that could have happened to anybody. But what about the hearings on North Korea in which he made repeated references to "Kim Jong the Second"? In order to prevent any repetition of this idiotic gaffe, Helms' staff propped up a piece of card on which was clearly written the pronunciation "Kim Jong ILL." The senator from North Carolina duly made the adjustment, referring thenceforth to the North Korean despot as "Kim Jong the Third."

Good riddance Jesse...

I won't go into great detail on his post from July 14th on what he feels is a false zero-sum choice proposed by liberals with regard to the wars in Afghanistan and Iraq. I feel this piece is either a hard line out to right center, or maybe it is reaching on an error by the left side of the infield? I am not as convinced as Mr. Hitchens that the war in Iraq is going as well as he would have it, but he does make one point in reference to the Afghanistan war that I believe to be of import.

It would also be very nice to accept another soft-centered corollary of the Iraq vs. Afghanistan trade-off and to believe that the problem of Afghanistan is a problem only of the shortage of troops. Strangely, this is not the view of the Afghan government or of any of the NATO forces on the ground. The continued and, indeed, increasing insolence of the Taliban and its al-Qaida allies is the consequence of one thing and one thing only. These theocratic terrorists know that they have a reliable backer in the higher echelons of the Pakistani state and of its military-intelligence complex and that while this relationship persists, they are assured of a hinterland across the border and a regular supply of arms and recruits.

Until Pakistan gets serious about the insurgents in the Tribal Regions, an area much neglected and extremely economically and politically depressed, there will be no true "peace" in Afghanistan... no matter how many NATO or US troops are there.

And finally we have the blind salamander column dated July 21st. In this column Hitchens offers an interesting argument against the entire mindset of linear progression, which is of primary import to the Creationists (and is at least partially shared by many other humans). Hitchens proposes considering our current position not as the resultant of a natural progression, but as the temporary status quo of an ongoing and dynamic process, whereby things (cells, organs, organisms, ecosytems, planets, galaxies, etc.) come and go. There is no ultimate end to evolution, it is merely a part of the ongoing change that is the universe.

I am not myself able to add anything about the formation of light cells, eyespots, and lenses, but I do think that there is a dialectical usefulness to considering the conventional arguments in reverse, as it were. For example, to the old theistic question, "Why is there something rather than nothing?" we can now counterpose the findings of professor Lawrence Krauss and others, about the foreseeable heat death of the universe, the Hubble "red shift" that shows the universe's rate of explosive expansion actually increasing, and the not-so-far-off collision of our own galaxy with Andromeda, already loomingly visible in the night sky. So, the question can and must be rephrased: "Why will our brief 'something' so soon be replaced with nothing?" It's only once we shake our own innate belief in linear progression and consider the many recessions we have undergone and will undergo that we can grasp the gross stupidity of those who repose their faith in divine providence and godly design.

Lazy Locavores....

For all of my (somewhat many) lazy friends, there is a new option in eating local, which involves little, if any, sweat equity. I have to admit this seems a bit strange to me, but I do love the actual process of doing the sourcing / shopping for my food. I do however recognize that a little glamour in the local food movement might actually help in moving more people to a local diet. Of course and equally plausible result of this lazy food snobbery may be that the average Jane and Joe Sixpack family view the eating local movement as another strange action of the effete snobs on the hill.

Additional market note --- The Hill Farms Farmer's Market on Saturday morning features some of the best milk you can find from Blue Marble Farms. Currently they are running a special on skim milk (as it is a by product of cream production) for only $2 per half gallon. I believe that is a rate that is quite price point competitive with the non-local non-organic skim you would find in the grocery store.

The Best Player in Baseball???

According to a survey of All-Stars by dufus Jeff Passan, Alex Rodriguez is the best. I would make my argument for Albert Pujols of the Cards, but I am admittedly a bit biased. I will say the most impressive player this year has been Josh Hamilton. And that isn't just because of the homerun derby.

Dog Days of Summer '08...

I have not been in the writing/blogging mood at all recently. I am attributing this primarily to the weather and the busy schedule around coaching Little League baseball. One of the primary interests on my radar, however, has been the continued inflationary pressures in the economy. This article in today's NYT highlights just how bad it was in the month of June. Unfortunately, it doesn't look like the economy is recovering yet and with inflation pushing up prices, we are caught in a situation that precipitates reminiscent talk of the stagflation days of the late 70's.

The Consumer Price Index, which measures prices of a batch of common household products, rose 1.1 percent in June, the Labor Department said. That increase caps a year where inflation has surged to proportions seen by some as threatening the stability of the American economy. In the last 12 months, the price index has risen 5 percent, the biggest annual jump since May 1991.

The report reinforces what many economists, including those at the Fed, have warned about for months: Americans are being forced to pay significantly higher prices even as the job market weakens and big employers like General Motors are laying off thousands of employees.

Wiffleball... Against the Law???

This article in yesterday's NYT seems to show that it is a legal issue in Greenwich, CT. My good friend Ken scooped me on blogging about this, but it bears additional coverage. This type of ingeniuity and cooperation is to be commended, not litigated. I don't buy that there isn't a compromise to address the "noise" concerns one of the neighbors is making.

The local paper in Greenwich has it right.

“BACK before we lost our collective minds and began shrieking with horror at the thought of kids having fun on their own (as in not part of an official league or otherwise organized activity), they used to do things like find a vacant field, turn it into a makeshift diamond and spend glorious hours in the summer sun,” the local newspaper, Greenwich Time, wrote in an editorial in support of the youths on Wednesday.

I just wish I could get Ken to meet me in Greenwich, so I could strike him out on three straight sliders...

The Rise of the CSA...

A front page article in today's NYT discusses the rise of Community Supported Agriculture (CSA's).

Some shareholders said they found the arrangement a bargain compared to grocery shopping, while others considered it a worthwhile indulgence. Most agreed that the urge to buy and spend locally — to avoid the costs and environmental degradation that come with shipping and storage — was behind the decision to join. Shareholders can pick up their goods at the farm or at a store across the street...

The downside for people who are used to grocery shopping comes when they want fresh blueberries in January or, as was the case at Erehwon last week, the tomato plants needed more time in the ground because of a cold spring.

I have to say from personal experience the CSA we belong to (Green Spirit Farm) has been an exceptional bargain if you compare the produce received every other week to the prices for similar produce at the supermarket. The article does hit the nail on the head as to the biggest detriment of CSA/Farmer's Market sourcing of food being the inablity to secure anything anytime. I am, however, quickly adjusting to the joys of seasonality and the continual guidance nature offers in altering my diet.

If you are fortunate enough to live in the Madison area you have plenty of options for joining a CSA, with share prices as low as $200 for a summer share. Also, at this time you can probably still find a farm with winter shares, which start around $100. Check out the Local Harvest website for more info.

Torture, it is...

Hitchens penned an interesting piece of journalism in the August Vanity Fair, discussing his own experience being waterboarded. His writing is excellent as ever, with some interesting conclusions:

I fought down the first, and some of the second, wave of nausea and terror but soon found that I was an abject prisoner of my gag reflex. The interrogators would hardly have had time to ask me any questions, and I knew that I would quite readily have agreed to supply any answer.

The truly interesting part of this article is that Hitchens doesn't apply his conclusion that waterboarding is torture to the bigger issue of what this means for America and its image. George Packer takes up this idiosynchrosy in his work in the July 3rd New Yorker.

The Federal Budget and McCain's plan...

It seems that most financial experts are in agreement that McCain's fiscal plan is heavily tinted in the color rose. This should come as no surprise to anyone who has their own finances in order, as you can't sustain by holding your revenues constant allow spending to rise 2.4% while already being significantly in debt. In reading this article, I was introduced to the Concord Coalition, which is an interesting non-partisan budget watchdog group. I have been perusing their site, and there are lots of interesting tidbits for either the layman or the budgeteer. Especially of note,

Ludwick and Pujols....

Congrats to the two Cardinals All-Stars for 2008, Ryan Ludwick and Albert Pujols.
Ludwick has been a very pleasant suprise as an everyday outfielder, and Pujols has been his standard first ballot HOF'er self.

Go Cards!

And screw C.C. Sabathia!

Nadal vs. Federer...

A thing of beauty that kept me (and a lot of the world) transfixed for most of Sunday.

Without a doubt in my mind, the greatest tennis match ever.

Thanks gents! What a show.

It's the fundamentals of the economy, stupid...

Today's NYT Business section has Leonhardt offering his prognostication for the economy over the next couple months (while he will be away on paternity leave, good man). Leonhardt discusses unemployment, oil prices, education and home prices in a cogent analysis concluding with the idea that there are some fundamental problems underlying the current American (almost?)-recession.

Regarding unemployment, Leonhardt proposes viewing this issue not through an anti-globalization lens, but by noting what he (and the authors mentioned below) term the innovation deficit.

If you want to understand the causes of the innovation deficit, I’d recommend adding one serious book to your summer reading list: “The Race Between Education and Technology,” by Claudia Goldin and Lawrence Katz, two labor economists.

They argue that the American prosperity of the 20th century sprang largely from the country’s longtime lead in educational attainment, a lead that has all but vanished. Future prosperity won’t be based on saving yesterday’s high-wage jobs, as Mr. Katz told me. It has to start with smarter, more strategic investments in education, physical infrastructure and other things that can create the high-wage jobs of tomorrow.

I am a firm believer in the fact that rolling back globalization is not the answer to our problems, and that the appropriate solution to maintaining the accepted American standard of living is to increase our educational attainment levels. The continual chasing of jobs that, in the words of THE BOSS "are going boys, and they ain't coming back," is a reactionary approach to a problem that requires proactive investment in our greatest asset, our people.

Leonhardt goes on to discuss how oil prices are inflated, not by speculators as many politicians would lead you to believe, but by fundamental forces of supply and demand. The world is consuming ever more vast amounts of oil and supply is growing at a much lower rate. Anyone with a basic understanding of economics will tell you that this means an increase in price. Additionally, Leonhardt postulates that the housing values in America will continue to decline over the rest of this year and likely into next year. I know that in comparing prices relative to incomes or rents here in Madison yields a housing market that is still significantly above the historical (and sustainable?) levels.

For the first time on record, an economic expansion seems to have just ended without most families having received a raise. For the first time on record, the typical home price nationwide is falling. The inflation-adjusted value of the Standard & Poor’s 500-stock index has dropped 20 percent in the last year — and 30 percent since its peak in 2000.

I think the public has called this issue exactly right: the American economy has some real problems. Even if this summer’s downturn turns out to be mild, those problems aren’t mild — or simple — and they aren’t going away anytime soon. It’s going to take some real work.

So, as we ride out this economic downtown, let us hope that our business and political leaders recognize that this is not simply a "short and shallow" recession, but should be an economic wake up call to all of us. Our current levels of consumption relative to production will be difficult to sustain over the long term, our desire for lower oil prices won't make it a reality and a lot of people will lose significant amounts of equity in our homes (which is directly related to the inability to sustain current consumer spending, given that so much of it is reliant on home equity lines of credit). So, here's to a good summer and to hope that we are able to both individually and collectively reevaluate our consumption, spending and economic actions.