Thought for the Day: 6 February 2015

A substantial portion of the population has been taught that the worst people in the world to trust are the people who know the most about anything. They have nothing to say to us. We have our good old common sense which, I have learned, grows less sensible as it grows more common. This has been a lesson devised by people whose power is threatened by the act of creating a political commonwealth in which their power needs must be scrutinized and, if necessary, limited.

–  Charlie Pierce, I Dream Of Commonwealth: The Things We Do For Ourselves

Thought for the Day: Groundhog Day, 2015

People who are successful for a while think they know everything.  People who are rich think they are always right.  People who are both successful and rich are absolutely incredible douchebags.  It seems like a law of nature (i.e. I can only assume that if I ever become rich and successful I will also become a douchebag.  One more reason not to be wishing too hard for things like that.).

–  Cathy O’Neil, a.k.a. MathBabe

Thought for the Day: 23 January 2015

Joe Stiglitz, The Politics of Economic Stupidity:

[L]ow interest rates will not motivate firms to invest if there is no demand for their products. Nor will low rates inspire individuals to borrow to consume if they are anxious about their future (which they should be)…. Demand is what the world needs most. The private sector – even with the generous support of monetary authorities – will not supply it. But fiscal policy can. We have an ample choice of public investments that would yield high returns – far higher than the real cost of capital – and that would strengthen the balance sheets of the countries undertaking them.

The big problem facing the world in 2015 is not economic. We know how to escape our current malaise. The problem is our stupid politics.

The Inadequacy of the Obama Administration, Part… I’ve Lost Count

From Bob Kuttner, The Politics of Gesture:

Among the measures [Pres. Obama proposed which require] legislation is a tax plan that would increase taxes on the wealthiest in order to finance the tuition help for community college students and more generous child tax credits for working families. Obama also wants an excise tax on large banks and he is calling on Congress to pass a law giving all workers seven days of annual sick leave….

[Pres. Obama’s] initiatives are welcome. It probably sounds churlish to say that measures such as [he proposed] should have come much earlier in his presidency, and could have been a lot stronger.

The measures Pres. Obama proposed in his SOTU address should have come much earlier in his presidency, and could have been a lot stronger.  Back to Mr. Kuttner (emphasis mine):

Late in the game, when there is no risk that his proposals will be enacted, Obama is belatedly pursuing policies that seek to underscore the differences between Democrats and Republicans in terms of the practical situation of regular people…

The time to have fought for such policies was when Obama still had a majority in Congress. But back then, in 2010, he was promoting deficit reduction.

And there are two deeper problems. None of Obama’s proposals will fundamentally change the distribution of wealth and power in America. None addresses the structural erosion of decent payroll jobs.

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Thought for the Day: 27 December 2014

Conservatives like to portray government as a welfare machine doling out benefits to the poor, some of whom are too lazy to work.  In reality, according to the Center for Budget and Policy Priorities, only about 12 percent of federal spending goes to individuals and families, most of whom are in dire need.  An increasing portion goes to corporate welfare….

The size of government isn’t the problem. That’s a canard used to hide the far larger problem.  The larger problem is that much of government is no longer working for the vast majority it’s intended to serve. It’s working instead for a small minority at the top.  If government were responding to the public’s interest instead of the moneyed interests, it would be smaller and more efficient.  But unless or until we can reverse the vicious cycle of big money getting political favors that makes big money even bigger, we can’t get the government we want and deserve.

Robert Reich

Thought for the Day: 22 December 2014

Time to end the discussions of The New Republic as cultural phenomenon.  They were okay for a week or so after Foer and Wieseltier got sacked but enough already.   Quit the hand wringing.  Save your mental energy for debating the pieces which get published in it.   Better yet, save your mental energy for reading journals with superior content, e.g., Harper’s, The New Yorker, The American Prospect.

PS  Ta-Nehisi Coates’, The New Republic:  An Appreciation, should have been the end-all for TNR think pieces.