“The eurozone is economically moribund, persists with policies that have demonstrably failed, is indifferent to democracy, is run by and for a small, self-perpetuating elite, and is slowing dying.”

Larry Elliott:

The euro brought to fruition the idea of ever-closer union, a plan that dates back to the early 1950s. Lots of things considered good ideas back then are no longer considered quite so clever: system-built high-rise flats as the answer to slum housing; nuclear power to meet energy needs. Put ever-closer union in the same category as the Birmingham inner-city ring road: it seemed a good idea at the time.

A different Europe is needed, but it is stretching credibility to imagine that the Europe of Greece and the Transatlantic Trade and Investment Partnership can easily morph into America with the nice people in charge. The eurozone is economically moribund, persists with policies that have demonstrably failed, is indifferent to democracy, is run by and for a small, self-perpetuating elite, and is slowing dying. The wrong comparison is being made. This is not the US without the electric chair; it is the USSR without the gulag.

Brexit may be the best answer to a dying eurozone [Guardian]

May 24, 2016  |  

“Donald J. Trump’s vision for the future of our nation is as deeply disturbing as it is profoundly un-American.”

Boston Globe editorial board:

Donald J. Trump’s vision for the future of our nation is as deeply disturbing as it is profoundly un-American.

It is easy to find historical antecedents. The rise of demagogic strongmen is an all too common phenomenon on our small planet. And what marks each of those dark episodes is a failure to fathom where a leader’s vision leads, to carry rhetoric to its logical conclusion. The satirical front page of this section attempts to do just that, to envision what America looks like with Trump in the White House.

It is an exercise in taking a man at his word. And his vision of America promises to be as appalling in real life as it is in black and white on the page. It is a vision that demands an active and engaged opposition. It requires an opposition as focused on denying Trump the White House as the candidate is flippant and reckless about securing it.

PDF here.

The GOP must stop Trump [BostonGlobe]

April 11, 2016  |  

“If you do vote for Trump, at least look at him very carefully first. You owe that to the rest of us.”

Louis C.K.:

…voting for Trump is a way of saying “fuck it. Fuck them all”. I really get it. It’s a version of national Suicide. Or it’s like a big hit off of a crack pipe. Somehow we can’t help it. Or we know that if we vote for Trump our phones will be a reliable source of dopamine for the next four years. I mean I can’t wait to read about Trump every day. It’s a rush. But you have to know this is not healthy.

If you are a true conservative. Don’t vote for Trump. He is not one of you. He is one of him. Everything you have heard him say that you liked, if you look hard enough you will see that he one day said the exact opposite. He is playing you.

In fact, if you do vote for Trump, at least look at him very carefully first. You owe that to the rest of us…

[…]

Again, I’m not saying vote democrat or vote for anyone else. If Hilary ends up president it should be because she faced the best person you have and you and I both chose her or him or whoever. Trump is not your best. He’s the worst of all of us. He’s a symptom to a problem that is very real. But don’t vote for your own cancer. You’re better than that.

Louis C.K. Compares Donald Trump to Hitler: ‘He’s an Insane Bigot’ [Variety]

March 8, 2016  |  

“Trump found the flaw in the American Death Star. It doesn’t know how to turn the cameras off, even when it’s filming its own demise.”

Matt Taibbi:

Trump isn’t the first rich guy to run for office. But he is the first to realize the weakness in the system, which is that the watchdogs in the political media can’t resist a car wreck. The more he insults the press, the more they cover him: He’s pulling 33 times as much coverage on the major networks as his next-closest GOP competitor, and twice as much as Hillary.

Trump found the flaw in the American Death Star. It doesn’t know how to turn the cameras off, even when it’s filming its own demise.

The problem, of course, is that Trump is crazy. He’s like every other corporate tyrant in that his solution to most things follows the logic of Stalin: no person, no problem. You’re fired! Except as president he’d have other people-removing options, all of which he likes: torture, mass deportations, the banning of 23 percent of the Earth’s population from entering the United States, etc.

How America Made Donald Trump Unstoppable [RollingStone]

February 25, 2016  |  

“The great drama of Russia…”

Peter Pomerantsev:

…the great drama of Russia is not the “transition” between communism and capitalism, between one fervently held set of beliefs and another, but that during the final decades of the USSR no one believed in communism and yet carried on living as if they did, and now they can only create a society of simulations. For this remains the common, everyday psychology: the Ostankino producers who make news worshiping the President in the day and then switch on an opposition radio as soon as they get off work; the political technologists who morph from role to role with liquid ease – a nationalist autocrat one moment and a liberal aesthete the next; the “orthodox” oligarchs who sing hymns to Russian religious conservatism – and keep their money and families in London. All cultures have differences between “public” and “private” selves, but in Russia the contradiction can be quite extreme.

Nothing Is True and Everything Is Possible: The Surreal Heart of the New Russia [Amazon]

January 24, 2016  |  

“The ideal citizen of a politically corrupt state, such as the one we now have, is a gullible dolt unable to tell truth from bullshit.”

Charles Simic:

Widespread ignorance bordering on idiocy is our new national goal. It’s no use pretending otherwise and telling us, as Thomas Friedman did in the Times a few days ago, that educated people are the nation’s most valuable resources. Sure, they are, but do we still want them? It doesn’t look to me as if we do. The ideal citizen of a politically corrupt state, such as the one we now have, is a gullible dolt unable to tell truth from bullshit.

An educated, well-informed population, the kind that a functioning democracy requires, would be difficult to lie to, and could not be led by the nose by the various vested interests running amok in this country. Most of our politicians and their political advisers and lobbyists would find themselves unemployed, and so would the gasbags who pass themselves off as our opinion makers. Luckily for them, nothing so catastrophic, even though perfectly well-deserved and widely-welcome, has a remote chance of occurring any time soon. For starters, there’s more money to be made from the ignorant than the enlightened, and deceiving Americans is one of the few growing home industries we still have in this country. A truly educated populace would be bad, both for politicians and for business.

And this:

In the past, if someone knew nothing and talked nonsense, no one paid any attention to him. No more. Now such people are courted and flattered by conservative politicians and ideologues as “Real Americans” defending their country against big government and educated liberal elites. The press interviews them and reports their opinions seriously without pointing out the imbecility of what they believe.

Depressing, yet very accurate.

Age of Ignorance [NYR]

January 14, 2016  |  

Why People Are Irrational About Politics

Michael Huemer:

The problem of political irrationality is the greatest social problem humanity faces. It is a greater problem than crime, drug addiction, or even world poverty, because it is a problem that prevents us from solving other problems. Before we can solve the problem of poverty, we must first have correct beliefs about poverty, about what causes it, what reduces it, and what the side effects of alternative policies are. If our beliefs about those things are guided by the social group we want to fit into, the self-image we want to maintain, the desire to avoid admitting to having been wrong in the past, and so on, then it would be pure accident if enough of us were to actually form correct beliefs to solve the problem.

[…]

Based on the level of disagreement, human beings are highly unreliable at identifying correct political claims. This is extremely unfortunate, since it means that we have little chance of solving social problems and a good chance of creating or exacerbating them. The best explanation lies in the theory of Rational Irrationality: individuals derive psychological rewards from holding certain political beliefs, and since each individual suffers almost none of the harm caused by his own false political beliefs, it often makes sense (it gives him what he wants) to adopt those beliefs regardless of whether they are true or well-supported.

The beliefs that people want to hold are often determined by their self-interest, the social group they want to fit into, the self-image they want to maintain, and the desire to remain coherent with their past beliefs. People can deploy various mechanisms to enable them to adopt and maintain their preferred beliefs, including giving a biased weighting of evidence; focusing their attention and energy on the arguments supporting their favored beliefs; collecting evidence only from sources they already agree with; and relying on subjective, speculative, and anecdotal claims as evidence for political theories.

Why People Are Irrational about Politics [UCO]

May 10, 2015  |  

“These capitalists who are desperate to elect Republicans should study their history books.”

Charlie Rose Talks to Jeremy Grantham [Businessweek]

History speaks pretty clearly that the markets do better with Democrats. Republicans’ ideas of what constitutes fiscal responsibility simply are not good for the stock market. Democrats have many tendencies, but one of them is to look after the workers, and actually that tends to be good for demand and good for markets. These capitalists who are desperate to elect Republicans should study their history books.

—Jeremy Grantham, co-founder, GMO asset management.

November 1, 2012  |  

Do We Become More Conservative As We Age?

Contrary to popular belief, people generally do not become more conservative as they age:

Amidst the bipartisan banter of election season, there persists an enduring belief that people get more conservative as they age — making older people more likely to vote for Republican candidates.

Ongoing research, however, fails to back up the stereotype. While there is some evidence that today’s seniors may be more conservative than today’s youth, that’s not because older folks are more conservative than they use to be. Instead, our modern elders likely came of age at a time when the political situation favored more conservative views.

In fact, studies show that people may actually get more liberal over time when it comes to certain kinds of beliefs. That suggests that we are not pre-determined to get stodgy, set in our ways or otherwise more inflexible in our retirement years.

Do people become more conservative as they age? [DiscoveryNews]

January 22, 2012  |  

Quote: Richard Sulik

Richard Sulik, the speaker of the Slovak parliament and head of the Freedom and Solidarity (SaS) party, explains why he hopes the Euro bailout fund will fail and why troubled countries like Greece shouldn’t be bailed out:

[The banks] took on too much risk. That one might go broke as a consequence of bad decisions is just part of the market economy. Of course, states have to protect the savings of their populations. But that’s much cheaper than bailing banks out. And that, in turn, is much cheaper than bailing entire states out.

A few years back, we [Slovakia] survived an economic crisis. With great effort and tough reforms, we put it behind us. Today, Slovakia has the lowest average salaries in the euro zone. How am I supposed to explain to people that they are going to have to pay a higher value-added tax (VAT) so that Greeks can get pensions three times as high as the ones in Slovakia?

The Greatest Threat to Europe Is the Bailout Fund [Spiegel]

October 11, 2011  |  

Ezra Klein on Occupy Wall Street

The Washington Post columnist Ezra Klein (@ezraklein) on the ongoing Occupy Wall Street movement:

These are not rants against the system. They’re not anarchist manifestos. They’re not calls for a revolution. They’re small stories of people who played by the rules, did what they were told, and now have nothing to show for it. Or, worse, they have tens of thousands in debt to show for it…

This is why I’m taking Occupy Wall Street — or, perhaps more specifically, the ‘We Are The 99 Percent’ movement — seriously. There are a lot of people who are getting an unusually raw deal right now. There is a small group of people who are getting an unusually good deal right now. That doesn’t sound to me like a stable equilibrium…

What gives their movement the potential for power and potency is the masses who just want the system to work the way they were promised it would work. It’s not that 99 percent of Americans are really struggling. It’s not that 99 percent of Americans want a revolution. It’s that 99 percent of Americans sense that the fundamental bargain of our economy — work hard, play by the rules, get ahead — has been broken, and they want to see it restored.

[WaPo, via Felix Salmon]

October 8, 2011  |  

Elizabeth Warren on Fair Taxation

Former White House advisor for the U.S. Consumer Financial Protection Bureau and U.S. Senate candidate Elizabeth Warren on fair taxation:

There is nobody in this country who got rich on his own – nobody. You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory – and hire someone to protect against this – because of the work the rest of us did. Now look, you built a factory and it turned into something terrific, or a great idea. God bless – keep a big hunk of it. But part of the underlying social contract is, you take a hunk of that and pay forward for the next kid who comes along.

Forget the upcoming election battle. This is spot on and I could not agree with her more.

[YouTube, via TPM]

September 22, 2011  |  

Duck And Cover

A famous 1951 U.S. civil defense propaganda short film for children in which Bert the Turtle shows what to do in case of nuclear bomb attack.

From Wikipedia:

Duck and Cover was a suggested method of personal protection against the effects of a nuclear weapon which the United States government taught to generations of United States school children from the early 1950s into the 1980s. This was supposed to protect them in the event of an unexpected nuclear attack which, they were told, could come at any time without warning. Immediately after they saw a flash they had to stop what they were doing and get on the ground under some cover—such as a table, or at least next to a wall—and assume the fetal position, lying face-down and covering their heads with their hands.

September 15, 2011  |  

Some Facts About U.S. Middle Class

Here’s some rather depressing facts about the current state of the U.S. economy and its middle class from Robert B. Reich, the former secretary of labor and a professor at the University of California, Berkeley:

THE 5 percent of Americans with the highest incomes now account for 37 percent of all consumer purchases, according to the latest research from Moody’s Analytics. That should come as no surprise. Our society has become more and more unequal.

When so much income goes to the top, the middle class doesn’t have enough purchasing power to keep the economy going without sinking ever more deeply into debt — which, as we’ve seen, ends badly. An economy so dependent on the spending of a few is also prone to great booms and busts. The rich splurge and speculate when their savings are doing well. But when the values of their assets tumble, they pull back. That can lead to wild gyrations. Sound familiar?

The economy won’t really bounce back until America’s surge toward inequality is reversed. Even if by some miracle President Obama gets support for a second big stimulus while Ben S. Bernanke’s Fed keeps interest rates near zero, neither will do the trick without a middle class capable of spending. Pump-priming works only when a well contains enough water.

Also check out the eye-popping infographic here.

The Limping Middle Class [NYTimes]

September 5, 2011  |