Month: April 2010

Adventures in Wingnuttery

Now that Wisconsin state law requires teaching about the use of contraceptives in sexual education classes, the Juneau County Distract Attorney is threatening prosecutions of any teacher who teaches these classes, on the theory that teaching kids about condoms, etc. is, “Forcing our schools to instruct children on how to utilize contraceptives encourages our children to engage in sexual behavior, whether as a victim or an offender.”

He is threatening prosecutions for contributing to the delinquency of a minor.

Expect a baby boom in Juneau County shortly, because those kids will be f%$#ing anyway.

Business Lose

The New Republic, which has over the past 36 years descended from a well respected liberal voice to a a bastion of white ivy-league entitlement, plagiarism, fabulism (making sh%$ up), Republican talking points, and a cut in its publishing frequency, and its circulation, by nearly ½.

Well, in yet another step towards total irrelevancy, the magazine has decided to start charging for “premium” online content, whatever that means.

It’s a magazine that you could not pay me to read, and now they want us to pay them.

Gordon Brown Calls Election

Basically, the Tories have been slipping in the polls, and so Gordon Brown has called for a May 6 election.

I think that it still an uphill battle, but the Tories appear to be in, “Stepping on their own dick,” mode right now, and one poll shows the margin to be only 4%, so it is an opportune time for Labour to call an election.

I think that it will be a close thing, but my record on such things is less than stellar.

Jon Stewart Goes After Jon McCain

Ouch!

John McCain, in a tough primary fight with a man whose political corruption John McCain covered up is now denying that he was ever a maverick.

Considering the fact that it was every 3rd or 4th word out of his mouth in the campaign, this merits some comment, of a particularly scathing nature.

Well, luckily, Jon Stewart writes a lot better than I do, so I will just leave you with his comedic flaying of the “straight talking maverick” from Arizona:

But even with all that, you never felt like the guy was selling his soul. You just felt like he was maybe shaving little slivers of his soul …off …for money. But you still always felt like he maintained a controlling interest in his soul. Fifty-one percent of his soul. The majority shares of his soul. Until now.

And then he goes say that McCain is making “soul default swaps on the back end,” in a masterful juxtaposition of corruption and our opaque financial system.

Really, I cannot do justice to what he does in just 5 minutes and 4 seconds.

He shows the hypocrisy and political cowardice of the the man that the Beltway pundits, and the Sunday talk show hosts, love beyond measure.

Of course the aforementioned Beltway pundits Sunday talk show hosts will never acknowledge that their guy is basically a selfish and petulant politician, but I think that the rest of America is starting to realize this.

Signs of the Apocalypse, Tom Coburn Edition


Dr. Peter Venkman: Human sacrifice, dogs and cats living together… mass hysteria!

Wherein the raving nut job from the Sooner State says thatNancy Pelosi is a nice woman and that you should not believe everything htat you hear on Fox news:

“The intention is not to put anybody in jail,” Coburn said. “That makes for good TV news on Fox, but that isn’t the intention.”

Later, when his audience started to boo at the mention of Pelosi, Coburn stopped them.

“Come on now… how many of you all have met her? She’s a nice person,” Coburn said. “Just because somebody disagrees with you, doesn’t mean they’re not a good person.”

“Don’t catch yourself being biased by Fox News that somebody’s no good,” Coburn added.

Coburn urged audience members to widen their points of view by reading and watching different media outlets, not just the ones they agree with.

(emphasis mine)

This from a man who says that abortion doctors should face the death penalty, and that he, in the course of his duties as an OB/GYN, has performed abortions, so maybe he can hold these rather disparate thoughts in his head because if he is batsh%$ insane.

In China, He Would Already Would Be Dead

As would be the regulators and judges that Massey Energy CEO Don Blankenship has assiduously cultivated over the years.*

They would have been tried, convicted, and had a bullet in the base of their skull.

As it is, the Upper Big Branch Mine, where 25 miners have died and 4 are still missing, has a long history of repeated violations, 1,342 since 2005, and 50 just last month is a case of a wealthy business owner buying off the local Mandarins, and then having a very public disaster.

This is classically a situation where the Chinese legal machinery rolls into action and does a few executions for PR.

They’ve done it to corrupt brokers, and it appears that in this case, the model would be to execute Blankenship, the judge, and a few bureaucrats in the Mine Safety and Health Administration.

All in all it would make the world a better place, particularly in the case of Blankenship, whose company has left a trail of avoidable mining disasters behind it.

And then the meds kick in, and I remember that I oppose the death penalty.

*He quite literally bought a West Virginia Supreme Court justice some years back.

Please, God, Let This Be True!

The rumor is that Larry Summers is dissatisfied with his relative lack of power in the Obama administration, and will soon be leaving.

I am generally not a big follower of the Kremlinology school of politics, which looks obsessively at petty power squabbles amongst the courtiers in the White House, but it appears that Larry Summers, after being denied Treasury Secretary because he was too toxic, was expecting that he would be appointed to replace Ben Bernanke as Fed chair.

Well, Joshua Green at The Atlantic notes that Summers has started demanding perks, such as, I kid you not, “golf dates with the president,”* and that he is most unhappy with his role as head of the Director of the White House’s National Economic Council, and is considering leaving.

Well, all that I can say is, hip hip hurray!

Larry Summers, whatever his academic achievements have been, has been deeply, profoundly and disastrously wrong on every venture into the real world, as evidenced by Mark Ames’ devastating portrait of his performance as a public servant which shows him to be both incompetent and corrupt.

Here’s hoping that Barack Obama does not feel the need to keep him around. Larry Summers is not just the wrong man for these times, he is the wrong time for any times.

Next up, Tim Geithner, and if the Senators place a hold on his successor, then recess appoint Sam Webb.

It is a disaster on both a policy and a politics level to allow senior economic staff to be so captured by wall street.

*Golf Dates? F%$#ing Golf Dates?!?!? How fucking egotistical and petty can you be?

What is Missing From This Video?


Using a blender to reduce an iPad to iPowder

The answer is after the break, but here is a hint: it involves one Steve Jobs in a redux of a very specific scene from one of Kubrik’s better known films.

Do you know what I am referring to?

Do you have an inkling?

Well, if you do not get the answer, just, “click for more” to see the answer, with appropriate photographic documentation.

Blah, blah, blah!

The video, as delightfully perverse as it is, lacks that special something: Steve jobs restrained and forced to watch the liquidation of the most recent vision to spring forth from his metaphorical loins.

I am referring, of course to the brainwashing scene in A Clockwork Orange with Malcolm McDowell.

You Know that the ‘Phants are Crapping Their Pants When……


That look in his eyes is terror

When Karl Rove is so concerned about teabagger paranoia over the census that he as recorded a PSA for the decennial survey.

You see, the numbers are coming back, and it turns out that all over the Republican heartland, people are refusing to fill out the forms, because people like Michelle Bachmann and Glen Beck are telling them that it’s all a ploy for Barack Obama’s concentration camps for white folks.

What this means is that, probably for the first time in a very long time, that the under counting of minorities and immigrants may be balanced out by non-compliance among the suburban and rural white populations, which could move a few Congressional districts to bluer states, and change the shapes, of a few more.

I know that the census is important, and I know that it should be filled out promptly and accurately, but still, my initial thought is, “Heh. Hoist by their own petard.”

Hearts and Minds


The head of Wikileaks on Dylan Ratigan


The Wikileaks Video

Dan Froomkin has some very trenchant commentary on the video released by Wikileaks showing the attack on a Reuters camera crew and the people who later attempted to take the shooting victims to hospital.

Wikileaks calls it “Collateral Murder,” and I think that the characterization is a bit inflammatory.

That being said, regardless of intent or criminality, it is clear that this was a mistake. As Glenn Greenwald notes on Ratigan, the people effected by this violence will have their world view, and their view of the United States, colored by these events, as will the people in the Arab world who see videos like this, and videos like this are common features on various Arab broadcast networks.

In a word, incidents like this create a fertile ground for the radicalization of individuals, who then are far more likely to take action against Americans and American interests: In other words, they create terrorists.

That being said, I think that there are some problems here beyond the tactical, an over-reliance on relative imprecise airpower and artillery in a counter-insurgency situation, or the aesthetic, the rather creepy laughter on the video.

The first is that this sort of tragedy is an inevitable part of war, and are unavoidable, and so invasion and occupation, even when conceived to combat radicalism and terrorism, must create some level of new radicalism and terrorism, because sh$# like this will happen. War is confusing, and mistakes will be made.

Second, it does appear, at least according to as to training and rules of engagement, there were some violations, at least according to Lt. Col Anthony Shaffer (again on Ratigan), based on his observation of the video, and the fire directed at the would be rescuers of the injured people.

Third, and most importantly, it is clear that the US Military has a policy of deliberately lying about such things as standard operating procedure, whether it is this incident, the friend fire incident that killed Pat Tillman, or the rather gruesome account of special forces operatives digging bullets out of bodies in order to cover up their mistakes that has been reported recently by the New York Times.

It’s clear that this has nothing to do with protecting militarily sensitive information, simply put, shooting innocent civilians, or former NFL players, is not militarily sensitive, and the people on the ground, both the general public in the war zones, as well as the forces opposing us, already know what is going on.

The purpose of these activities is to deliberately deceive the American public, which is something that the military has been specifically forbidden to do by law, and the media, particularly the broadcast and cable media, appear to be all to willing to ignore.

Simply put, on matters where embarrassment is an issue, the Military can be reliably relied on to lie, and the press can be trusted to mindlessly parrot the stories over the news cycle.

Good Writing

Matt Taibbi, once again, this time on how the banks used complex products to rape Jefferson County, Alabama when they wanted to issue debt to upgrade their sewer system:

What happened here in Jefferson County would turn out to be the perfect metaphor for the peculiar alchemy of modern oligarchical capitalism: A mob of corrupt local officials and morally absent financiers got together to build a giant device that converted human sh%$ into billions of dollars of profit for Wall Street — and misery for people like Lisa Pack. [a county employee laid off when the debt exploded]

………

And once the giant sh%$ machine was built and the note on all that fancy construction started to come due, Wall Street came back to the local politicians and doubled down on the scam. They showed up in droves to help the poor, broke citizens of Jefferson County cut their toilet finance charges using a blizzard of incomprehensible swaps and refinance schemes — schemes that only served to postpone the repayment date a year or two while sinking the county deeper into debt. In the end, every time Jefferson County so much as breathed near one of the banks, it got charged millions in fees. There was so much money to be made bilking these dizzy Southerners that banks like JP Morgan spent millions paying middlemen who bribed — yes, that’s right, bribed, criminally bribed — the county commissioners and their buddies just to keep their business. Hell, the money was so good, JP Morgan at one point even paid Goldman Sachs $3 million just to back the f%$# off, so they could have the rubes of Jefferson County to fleece all for themselves.

(%$# mine, emphasis original)

I believe that I have described him as this generation’s Hunter S. Thompson, but I was wrong.

He is this generation’s Upton Sinclair, though there is certainly a lot of Thompson in his prose.

It’s a fairly long read, and the twists and turns of the deal, where Morgan Stanley paid a middleman to bribe people, and now will be getting off Scott free, and I really can’t do justice with a summary, so just read the whole thing, and at the end, you will agree with him when he says, “This isn’t capitalism. It’s nomadic thievery.”

I wish that I could write like him.

Meta

I’ve reorganized the Google Ads, in the hopes of getting a few more pennies, because my my application for extended unemployment benefits, has been put on hold by the petulance of Senator Tom Coburn (R-OK).

I figure that the narrow strip of ads under the title is preferable to my screaming, “Will no on rid me of this turbulent ‘Phant.”

Hoocoodaode?

Michael Burry, who made millions from the collapse of housing bubble, talks about how it was all perfectly obvious that we were heading at 95 miles per hour into a brick wall:

Alan Greenspan, the former chairman of the Federal Reserve, proclaimed last month that no one could have predicted the housing bubble. “Everybody missed it,” he said, “academia, the Federal Reserve, all regulators.”

But that is not how I remember it. Back in 2005 and 2006, I argued as forcefully as I could, in letters to clients of my investment firm, Scion Capital, that the mortgage market would melt down in the second half of 2007, causing substantial damage to the economy. My prediction was based on my research into the residential mortgage market and mortgage-backed securities. After studying the regulatory filings related to those securities, I waited for the lenders to offer the most risky mortgages conceivable to the least qualified buyers. I knew that would mark the beginning of the end of the housing bubble; it would mean that prices had risen — with the expansion of easy mortgage lending — as high as they could go.

I had begun to worry about the housing market back in 2003, when lenders first resurrected interest-only mortgages, loosening their credit standards to generate a greater volume of loans. Throughout 2004, I had watched as these mortgages were offered to more and more subprime borrowers — those with the weakest credit. The lenders generally then sold these risky loans to Wall Street to be packaged into mortgage-backed securities, thus passing along most of the risk. Increasingly, lenders concerned themselves more with the quantity of mortgages they sold than with their quality.

He is one of many people who began to worry about an over-inflated housing market,* though he has the distinction of being one of perhaps a dozen people who actually researched it thoroughly enough to risk his, and his clients’ money at Scion Capital.

And he made a killing, to the tune of about $¾ billion.

Of course, Alan “Bubbles” Greenspan take on all this is that he was just lucky:

Since then, I have often wondered why nobody in Washington showed any interest in hearing exactly how I arrived at my conclusions that the housing bubble would burst when it did and that it could cripple the big financial institutions. A week ago I learned the answer when Al Hunt of Bloomberg Television, who had read Michael Lewis’s book, “The Big Short,” which includes the story of my predictions, asked Mr. Greenspan directly. The former Fed chairman responded that my insights had been a “statistical illusion.” Perhaps, he suggested, I was just a supremely lucky flipper of coins.

Mr. Greenspan said that he sat through innumerable meetings at the Fed with crack economists, and not one of them warned of the problems that were to come. By Mr. Greenspan’s logic, anyone who might have foreseen the housing bubble would have been invited into the ivory tower, so if all those who were there did not hear it, then no one could have said it.

If Greenspan had no naysayers talking to him, it was because, as Paul Krugman so ably notes, it was, “Because Greenspan insulated himself from people who told him what he didn’t want to hear.”

Krugman notes a number of people, Dean Baker, Robert Shiller, himself, etc., and notes that Greenspan’s alibis are an artifact of his lack of menschlichkeit (integrity).

I would actually go further: He actually had a political and electoral purpose to his policies, which was that he held, and kept rates low, and encouraged things like exotic mortgages, because he wanted the Republicans in general, and George W. Bush in particular, to implement policies that he supported, such as the dismantling of Social Security, and by propping up the economy, he put the wind at their backs.

The independent Federal Reserve is largely a myth, and treating it as such leaves us with people like Alan Greenspan running the show to the detriment of everyone else.

*Hell, I was issuing dire warnings on the by invitation only Stellar Parthenon BBS regarding what I thought was, and is, an over valued US dollar and increasing interest rates KOing the housing market in 2004, so I was right about there being a housing bubble, and the effects of low interest rates, but wrong, at least so far, as to the mechanism for the collapse of it all.

The Latest Faux Conservative Outrage


Do you think he’s maybe compensating for something?

It appears that the right wing media is having a hissy fit over the size of Nancy Pelosi’s gavel:

  • Beck asks if Nancy Pelosi was “inciting” tea partiers with House gavel — “a big hammer.”
  • Limbaugh: Pelosi tried to “provoke” tea partiers by “carrying that big gavel” with “excrement-eating grin on her face.”
  • Michael Graham: Pelosi was “asking for” response by carrying gavel.
  • Tea Party blogger: “It would have been more symbolic had she had a whip.”

Gee, the Republicans see something big, and it makes them feel insecure.

Imagine that.

Conservatives Feel Entitled to Their Own Facts

As evidenced by the recent assault on history by conservatives.

Cases in point, arguing that:

  • Alexander Hamilton, the most vociferous supporter of a strong government and against the powers of the states amongst the Federalists, who themselves supported a strong central government, opposed a strong central government.
  • Texas text books rewriting history.
  • That the deaths at Jamestown in its first years were because it was a socialist endeavor.
    • The truth is that, “The Jamestown settlement was a capitalist venture financed by the Virginia Company of London — a joint stock corporation — to make a profit.
  • Teddy Roosevelt was a socialist.

We could go on and on, but the lesson to be learned is that when talking to conservatives, you need to confirm if they say that milk is white.