Climate Change will Cost Trillions
You heard it here first.
You heard it here first.
Last night I was doing an extremely necessary cleanup of my emails, and was about to delete some recent ones from our local Republican NYS Assemblyman, when I decided to take a look to see what he was writing about. Here’s one of them:
Cuomo’s Undemocratic Minimum Wage Hike Will Kill Jobs
East Fishkill, NY – (5/7/15) – Assemblyman Kieran Michael Lalor (R,C,I – East Fishkill) issued a statement today criticizing Governor Cuomo’s decision to unilaterally move to raise the minimum wage for some businesses without legislative approval.
“Dictating new regulations outside the legislative process is a recklessly undemocratic decision by Governor Cuomo,” said Lalor. “We have a process for passing new laws and the governor has chosen to bypass it because he was only able to get part of his job-killing minimum wage through the legislature. It seems he’s taking a page from President Obama’s playbook and simply dictating new laws when he can’t do what he wants through the legislature. Impaneling a wage board gives Cuomo’s action a veneer of unbiased approval, but is there any doubt that the board will simply follow Cuomo’s directions? We know how closely Cuomo has controlled previous ‘independent’ commissions.”
Lalor added, “This isn’t just undemocratic, it’s a job killer. San Francisco’s recent minimum wage hike is pushing small businesses to the brink of closure. [emphasis mine] This will hurt minimum-wage earners when businesses that can’t afford the increase start cutting jobs. Studies have shown entry-level job opportunities decline with minimum wage increases. The governor can’t simply mandate a better economy. Small businesses are struggling with New York’s high taxes and never-ending regulations. New York’s economy is struggling because of those taxes and regulations. The only way for government to increase wages and opportunities is to cut taxes and regulations across the board. We need to open up opportunities for businesses to thrive and create jobs in New York.”
“It’s also inappropriate for the governor to target just one industry,” Lalor added. “Governor Cuomo says he wants to raise fast food wages because fast food CEOs are millionaires. But, many fast food restaurants operate as franchises. They’re small businesses. This isn’t just hitting big corporations, Governor Cuomo, this is hitting small businesses. Cuomo’s dictate is so vague, we don’t even know how far this will go. It’s up to his wage board to decide what jobs will be defined as within the ‘fast food industry’. Pizzeria and deli owners, among other small businesses, don’t know if they’ll be included. They might not even know that this regulation could affect them until it’s already passed, missing the chance to voice their opposition.”
Assemblyman Kieran Michael Lalor, a former teacher at Our Lady of Lourdes in Poughkeepsie, is a Marine Corps veteran of Operation Iraqi Freedom and a frequent guest on the Fox News Channel…”
I started to search for any information regarding what problems have been caused by San Francisco’s recent minimum-wage raise. The Google brought up several articles referencing “a San Francisco newspaper says that some restaurants and grocery stores in Oakland’s Chinatown have closed…” Okay, that’s Oakland, which, as far as I know, is still a separate city across the bay from SF. And my search for even that one “San Francisco newspaper” story yielded nothing but references to it from right-wing sources, i.e., The American Spectator and World Net Daily. As you can see, Thomas Sowell of The American Spectator has apparently coined (or at least emphasized) a new buzzword for the right, “ruinous compassion” – don’t be surprised if you start hearing that phrase in conjunction with any minimim-wage-raise arguments.
I finally found one article from Yahoo! Finance titled “Minimum Wage Hike Closes San Francisco Bookstore.” Although I had seen other stories from 2011 on about several booksellers such as the Borders chain losing business or closing, none of those seemed to be as a result of minimum wage hikes; it’s been pretty much a given for several years now that any bookseller would be in tough competition with current technology, with which one can access any book one wants with a few clicks. However, even this particular bookstore in San Francisco isn’t exactly going out of business entirely:
“Borderland Books, which specializes in science fiction and horror, says it has withstood a host of challenges since it opened in 1997, including the rise of Amazon.com and e-books, a landlord who supposedly doubled their rent while dotcoms were first booming, and a deep recession that the owners say “hit us very hard.” A higher minimum wage, though, would take the business from being modestly profitable to being a money loser, the owner says. “Although all of us at Borderlands support the concept of a living wage in principal and we believe that it’s possible that the new law will be good for San Francisco — Borderlands Books as it exists is not a financially viable business if subject to that minimum wage.”
But according to the article:
“The blog post went on to say that the Borderlands café business will stay open and should have “no difficulty at all” with the new minimum wage because it will be able to raise prices as needed. The bookselling business is different, the blog post argued, because book prices are set by the publishers and clearly printed on the books.”
So, although the owner wasn’t making much of a profit anyway from selling books, he’s still going to do just fine with the cafe associated with his bookstore. The last paragraph of the article itself links to this survey of economists who are mostly supportive of minimum-wage raises.
Hmm…So why is this one bookstore being used as, it appears, the definitive argument against all minimum-wage hikes, and why does it sound like the Ronald Reagan “Cadillac-driving welfare queen”? And since when does ONE = ALL?
I think I’m going to have to write to Assemblyman Lalor about his research team – if he has one.
This is our (very late) Daily Open Thread–what’s on your mind?
Yes, I still occasionally read parts of Newsmax and Moneynews, just so that you won’t have to. You’re welcome.
The Moneynews email subject that caught my eye this time was “Fast-food Workers Rally for Higher Minimum Wage.” I wanted to see how they would spin this issue. Surprisingly, it didn’t seem to be skewed, with the one notable exception.
“Fast-food workers in hundreds of U.S. cities staged a day of rallies on Thursday to demand higher wages, saying the pay was too low to feed a family and forced most to accept public assistance.
The protests escalated a series of actions at several Walmart stores on Black Friday, the day after Thanksgiving, seeking to draw attention to workers at the lowest end of the wage scale.
The description of fast-food workers, once viewed mainly as teenagers looking for pocket money or a first job, has changed. Today’s fast-food worker is typically over 20, often raising a child, and 68 percent are the primary wage earners in their families, according to a report by the University of Illinois and the University of California, Berkeley.
About 100 workers in Chicago marched along Michigan Avenue with a large costumed Grinch, chanting: “We can’t survive on $7.25.” Protesters want the hourly U.S. minimum wage raised to $15 from $7.25.
In Kansas City, Missouri, Kizzy Sanders, 30, an employee at a local Popeye’s restaurant, joined about 100 protesters picketing fast-food restaurants in freezing temperatures.
“I love my job, I love the people I work with, but the $7.70 I make does not cut it,” said Sanders, a mother of three. “It doesn’t pay my bills, I can’t buy my kids anything for Christmas. I can’t even celebrate Christmas.”
Thursday’s protests were organized by groups such as “Fast Food Forward” and “Low Pay is Not OK” that have the support of labor union giant Service Employees International Union, which represents more than 2 million members including healthcare, janitorial and security workers.”
“Despite the involvement of organized labor, the protests are focused on wages, not unions, for the moment, said John Logan, a labor studies professor at San Francisco State University’s College of Business.
“The immediate goal is to focus national attention on the impact of poverty-level wages on employees and the negative impact of poverty-level wages for the public and the economy,” Logan said.
Data from the U.S. Census Bureau and public benefit programs show 52 percent of fast-food workers relying on at least one form of public assistance, between 2007 and 2011, according to the report from the University of California, Berkeley, and the University of Illinois.”
“Because the current minimum wage, on an inflation-adjusted basis, lags behind those of decades past, the purchasing power of minimum-wage earners has diminished.
Increasing the minimum wage, however, would not reduce poverty, said Michael Saltsman of the Employment Policies Institute, because employers will compensate by reducing staff and workers’ hours. Instead, they should expand the Earned Income Tax Credit, which provides a small-wage supplement for low-income families in the form of a tax refund, he said. A 2012 study published by the Employment Policies Institute found that states that increase the Earned Income Tax Credit by 1 percent saw a 1 percent drop in state poverty rates. [Emphasis mine.]
“Others disagree. Christian Dorsey, director of external and governmental affairs for the Economic Policy Institute [the progressive organization with which Employment Policies Institute wants us to be confused], said tax credits should not let employers skimp on wages.
“Businesses have a responsibility to pay workers enough to keep them out of poverty,” Dorsey said. “The idea that we would simply not look at wages is passing off the problem to someone else.”
Yes, Employment Policies Institute, one of soulless lobbyist Rick Berman’s stable of “non-profits.”
Charity Navigator has become aware of the following information in connection with this charity:
During our analysis of this charity’s FYE 2011 Form 990, the document revealed that more than half of the Employment Policies Institute Foundation’s functional expenses were paid to its CEO Richard Berman’s for-profit management company, Berman and Company. The document revealed that, out of total expenses of $2.10 million, $1.17 million were paid to Berman and Company for staff[ing] and operat[ing] the day-to-day activities” of the charity.
Sourcewatch, too, provides lots of information regarding the tangled web of EPI and other Berman & Co. ‘non-profits.’ It’s a sweet, and profitable, arrangement for Berman & Co.
A quick glance at some of the ‘studies’, ‘press releases’ and ‘letters to the editor’ touted on Employment Policies Institute’s home page pretty much sums up whose side they’re on in the employer vs worker fight. And while Berman’s EPI should still be nursing their bruises after the recent thrashing given by Chris Hayes to one of Berman’s minions (who was unable to answer the simple question “how many economists do you have on your staff?”), instead, his “think-tanks” continue to crank out ludicrous reasoning for keeping workers from getting ahead.
It all comes back to what Bill Maher said several weeks ago: “Do you want smaller government with less handouts, or do you want a low minimum wage? Because you cannot have both.”
This is our daily open thread–don’t be shy!
Even though most of the people who need Obamacare have not yet taken advantage of it, other interests are poised to board the Obamacare money train. The Wall Street Journal’s Howard Gold is encouraging investment in the health care industry. A few snippets:
“This diverse sector, which includes red-hot biotechnology, Big Pharma, medical device makers, hospitals, health insurers, and other services, is profiting from structural shifts far beyond the changes brought in by the Affordable Care Act…In fact, health care stocks may have entered a new secular bull market, which is why you should take some profits on cyclicals and other market-sensitive stocks and reinvest the money into this group.”
“We’re clearly in a favorable environment,” said Andy Acker, manager of Janus Global Life Sciences fund since 2007. “I think this is a question of when this gets resolved, not if,” Acker said. “Millions of people will sign up for health care.”
In an earlier (March 2013) article from conservative moneynews.com, entitled “How Companies are Cashing in on Obamacare”, author Michael Kling wrote:
“Although its critics say Obamacare will increase business costs, some companies are cashing in on the healthcare reform law…CNNMoney reviewed six companies that might reap huge benefits from Obamacare.
Take, for instance, Health Recovery Solutions, a New York City-based start-up that helps hospitals avoid Medicare penalties for readmitting patients. To decrease preventable return visits by Medicare patients, Obamacare levies high cuts to Medicare reimbursements to hospitals that have a certain percentage of these return visits.
Health Recovery Solutions furnishes tablets full of educational videos and information patients can use to care for themselves. Using the tablet, patients send information, such as medications they are taking, to the hospital care team for review.
Eligible, another start-up, takes care of the complex wiring insurers need to quickly answer customer questions about coverage and eligibility, one of the many Obamacare requirements.
GoHealth offers an online tool that enables people to compare health care insurance plans. Consumers can use the platform to enroll in plans or just compare plans before contacting an insurance broker.
QuantiaMD offers a website where doctors can offer presentations, hold private discussions with each other and hold virtual consultations. Pharmaceutical and insurance companies and hospitals sponsor the content on the site.
Obamacare limits the proportion of premium revenue insurers can spend on salaries, overhead and marketing. That’s where Connecture comes in. The Brookfield, Wisc., company provides software that helps insurance companies cut costs through automation. It also helps states with technology needed to create insurance exchanges, another Obamacare requirement.
Another company getting involved with the state exchanges is hCentive, which has built a platform the exchanges can use.
Many of the companies saw their sales jump after the elections. Healthcare companies were not sure Obamacare would be enacted, and state officials were not sure they would still be required to create exchanges by this October…“Many states were waiting to decide to set up their own exchanges — they kept thinking maybe this wouldn’t happen,” Sanjay Singh, an hCentive partner, told CNNMoney.
“they kept thinking maybe this wouldn’t happen” No, they kept HOPING this wouldn’t happen. Because despite their hatred of all things Obama-related, despite all of the conservative hyperbole about “job-killing”, “bankrupting businesses”, “the end of freedom as we know it”, “it’s socialist Obama’s anti-capitalism agenda”, etc., ad nauseum; and despite the 40+ failed efforts by Congressional Republicans to kill Obamacare, every single one of those nay-sayers HAD to realize, deep down, that Obamacare is a boon to the private, capitalistic, for-profit healthcare “industry.” (spit!)
Okay, since you were all good enough to put up with the above drivel, here’s your justly-deserved palate-cleanser…
It’s that time of year again: the National Geographic Photo Contest is open, but only ’til the end of November. I know quite a few of our Critters and Zoosters who should submit a few entries! Here’s last year’s “Nature” category winner, photographed by Ashley Vincent:
Here’s two ways to view some or all of the current entries: The Atlantic picked 39 of the photos, and you can just scroll through them. Note that you can also switch from 1024 pixels to 1280 (I chose 1280.) Or you can go directly to the National Geographic 2013 Photo Contest webpage, where there are links to the photos entered to date, as well as links to 2012 winners and other photo galleries. Here’s one of the 2013 entries, by Sam Morris:
This is our daily open thread, what do you have to say today?
So what is going on this Sunday, not much, and that’s not always bad. I picked a fews reads for you, I hope you all slept in 😉
President Obama will be in Israel next week. The so-called peace process, was there ever a real effort (?), is not only stalled, it is at it’s lowest point since I remember. The Economist picks up the topic:
IN 1942, as the Holocaust in Europe was entering its most horrific phase, a pacifist American rabbi called Judah Magnes helped found a political party in Palestine called Ihud. Hebrew for unity, Ihud argued for a single binational state in the Holy Land to be shared by Jews and Arabs. Its efforts—and those of like-minded idealists—came to naught. Bitterly opposed to the partition of Palestine, Magnes died in 1948 just as the state of Israel—the naqba, or catastrophe, to Palestinians—was being born. Decades of strife were to follow.(read more)
Cyprus needs a bailout. That’s not really news, but the account holders will get a haircut, oops:
Cypriots reacted with shock that turned to panic on Saturday after a 10% one-off levy on savings was forced on them as part of an extraordinary 10bn euro (£8.7bn) bailout agreed in Brussels.(read more)
Formula 1 is on, finally, The Lotus Effect:
Kimi Raikkonen proved he and Lotus have what it takes this year to become Formula One world champions after storming to victory in the season-opening Australian Grand Prix.(read more)
And, kids, you look the other way now:
Close your eyes and ears,” warns an off-screen voice, “because here comes a sex comedy that’s all about bonking and banging.” Then Bavarian character Sepp appears on screen. As he assumes a wide-legged stance in an Alpine pasture, a cow gazes awe-struck at the fly of his lederhosen. Thunderbolts shoot out of his tight leather shorts, bulging with excessive man-power.( read more)
Again, there’s not much going on really, I could have brought you ‘She Who Must Not Be Named’ and her CPAC speech, but I am not cruel.
This is our Open Thread. All Yours!
I found the link to this interview. It was on the local PBS radio station on Thursday, November 29, 2012.
Boehner and the rest of the Republicans in the House could learn something from this 6th grader. Even an teabagger could understand this 6th grader’s explanation.
I’ve been reading through the transcripts of Mitt Romney’s campaign speeches, and I’ve noticed that he has several recurring themes and lies about President Obama:
– “President Obama sees a different America and has taken us in a different direction.”
– “A few months into office, he travelled around the globe to apologize for America.”
– “Ronald Reagan rallied America with “Peace Through Strength.””
– “We must pass a torch to the next generation…”
– “It’s really an election about the soul of America.”
– “Three years ago, Candidate Obama promised to address the problems of illegal immigration in America. He failed. The truth is, he didn’t even try.”
– “American strength rises from a strong economy, a strong defense, and the enduring strength of our values. Unfortunately, under this President, all three of those elements have been weakened.”
– “This President’s first answer to every problem is to take power from you, your local government and your state so that so-called “experts” in Washington can make those choices for you. And with each of these decisions, we lose more of our freedom.”
This particular speech from January, 2012, in New Hampshire, probably has the most out-and-out lies of all the speeches I’ve read so far (read for yourself.)
Here’s the most hypocritical lie (and one that he reiterated at the RNC):
– “At the time, we didn’t know what sort of a President he would make. It was a moment of crisis for our economy, and when Barack Obama came to office, we wished him well and hoped for the best…”
I’ve also run across various and sundry WTF? lines:
– “As President, on Day One, I will focus on rebuilding America’s economy. I will reverse President Obama’s massive defense cuts. Time and again, we have seen that attempts to balance the budget by weakening our military only lead to a far higher price, not only in treasure, but in blood.”
– “Barack Obama has failed America. It breaks my heart to see what’s happening in this country. These failing hopes make up President Obama’s own misery index. It’s never been higher. And what’s his answer? He says this: “I’m just getting started.”
– “If a couple has a baby, the government will actually give them more support—in the form of food stamps, welfare, or other benefits—if they do not marry than if they do. Our safety-net programs penalize the decision to marry, instead of rewarding it. That’s just wrong. And that’s why I will eliminate these marriage penalties.”
– “God did not create this country to be a nation of followers.”
Romney’s campaign speeches also contain myriad Republican-hot-button-buzzwords, repeated ad nauseum, such as “freedom”, “opportunity”, “exceptionalism”, “entitlements”, “failure”, etc. In addition, Romney makes plenty of promises to uphold or strengthen various rights: States’ rights; corporations’ rights to conduct their businesses unfettered by Federal regulations; and, of course, the overarching rights of a collection of zygotes.
However, thus far in my research (ten speeches), one very important topic stands out which Mitt Romney completely ignores: Women’s issues and rights. Romney’s only mention of women:
– “We live in the most powerful nation that ever existed. And it all goes back to a few men and women who had the courage to stand – and even die – for their belief in liberty and equality.”
– “…I will hold fathers financially responsible for their child, whether or not they have married the mother.”
As I mentioned, I’m only ten speeches into a collection of about forty-five, so there’s a possibility that Romney may have discussed support for women’s rights in a later speech. But I’ve got the feeling that that possibility is slim-to-none.
This is our daily open thread — What would YOU like to ramble about?
Is Mitt Romney really an American? Which country does Mitt Romney serve? Is there something suspicious in Mitt Romney’s tax returns? What is he hiding? Why does he fly the flag of another country? Is this the country that Mitt Romney pledges allegiance to?
The party yacht proudly displays the flag of the Cayman Islands.
More questions, were there years that Mitt Romney didn’t pay taxes? Is he using accounts in the Cayman Island to hide his money so that he doesn’t have to pay taxes to the United States government?
No wonder Mitt Romney is out of touch with the American people. He doesn’t know what it is like to worry about where his next meal will come from or if he still has a job or if he can pay for his mortgage or rent. His only worry is how can he hide his money so that he doesn’t have to pay taxes.
Mitt was born with a silver spoon in his mouth. He doesn’t know what it is like to be an ordinary American.
Ok, so for the next few months, if you’re in a “swing” State, you’ll be inundated with SuperPAC commercials designed to get you to vote against your own best interests. We will also be systematically bombarded with messages from the Mainstream Media designed to influence our thinking.
IT’S ALL A SHOW. IT REALLY DOESN’T MATTER.
If the Powers That Be really want Obama out, all they have to do is raise gas prices to about $5.00/gallon. Instead, gas prices are going down, heading into the summer vacation season. That’s not to say they won’t go up between now and the election – but they are an accurate predictor of where our economy will head. So, pay attention to the pump, not the talking heads.
Ok, that’s my $0.0199 cents. And you?
EVERYTHING I SAID
DOESN’T REALLY MATTER
Sculpture by Peter Lenk
This is what I always wanted to be. Livestock, a commodity. When I started to work for Digital Equipment Corporation in 1986 I was hired for the Personnel Department. This changed it’s name into “Human Resources” after a while and that didn’t improve how we treated our employees. Obviously things have gone farther. This is from today’s “The Guardian” Business Blog:
The UK’s human capital – the economic value of the knowledge and skills of the working age population – fell by £130bn in 2010, according to the Office for National Statistics.
The knowledge and skills of workers in the UK were worth an estimated £17.12 trillion in 2010. This was more than two-and-a-half times the estimated value of the UK’s tangible assets – such as buildings, vehicles, plant and machinery – at the beginning of that year.
The value of the UK’s human capital stock increased steadily between 2001 and 2007, averaging annual increases of £425bn. The slowing of earnings growth and increases in unemployment during the economic downturn meant that growth in the stock of human capital slowed to an average of £120bn a year between 2007 and 2009, before falling in 2010.
Human Capital Stock…Livestock…Maybe I am a bit too sensitive. What do you think?
This is our daily Open Thread. Join us and discuss..
I am not talking about the abominable plans in Mississippi to turn a fertilized egg into a person legally. I have no intention to grace this irrationality with a post. I am talking about “The Economy” and “The Markets”. Both are nomina depicting a number of activities but are treated like they were personalities.
The Economy, that’s what we do. That’s the system or range of economic activity in a country, region, or community. We do it by producing goods, by providing services, by consuming. You name it. It is not a person, it is the totality of economic interaction done by all of us. As this is done by all of us, we have as a society or community the right and the duty to set the rules how this interaction should be, in order to be most profitable for all of us.
The Economy is not a person which is empowered to set the rules unless we make it that way, or rather let it happen. We do that currently.
The Markets are defined ranging from a) A public gathering to sell and buy merchandise, to b) A specific geographical area where certain merchandise or good are being sold to or bought from, to most globally c) The entire enterprise of buying and selling commodities and securities. If this were a person I’d recommend psychiatric evaluation for dissociative disorder.
The Markets are an integral part of the greater entity The Economy. The Economy is what WE do, The Markets is what WE do inside The Economy. WE decide how we want to do it. It is time we took our lives and our society back into our own hands and start to send representatives into our parliaments who do OUR bidding not the bidding of their shill friends Economy and Markets.
For behind the shill we find the real friends who perfectly understand how to use the concept of The Economy and The Markets as godlike ruling force against us. We all know who they are on your side of the Atlantic and on ours.
This is our open thread. A public gathering to offer and accept your comments and a lively discussion. Get going.
As I believe I’ve mentioned before, the one redeeming feature in “The New York Post” is the puzzle page, particularly the word game in which you’re given a particular word and have to make as many five-letter words as possible out of that word. The rules are simple: no proper nouns, no plurals ending in ‘s’, no foreign words. For my own amusement, I often play this game with a word or phrase of my own choosing.
The other day I sat down and started playing around with the phrase “OCCUPY WALL STREET.” As I started jotting down five-letter words, I noticed that many of the words were pertinent to the actual OCCUPY WALL STREET movement. Obviously, many were not, but there seemed to be a striking number which were applicable to the protests. I’ve listed all of the words that I came up with, in vaguely alphabetical order, below the fold. If anyone comes up with a word that I missed, please let me know and I’ll add it. Continue reading
Poland from 1976 to 1989 came to mind when watching the brutal treatment of civilians in NYC over the past few days:
I do not think that the violence used by the police was warranted! Pepper spray and night sticks are not called for in a venue where grievances are being aired. They only served to provoke the protesters and incite witnesses.
These provocations only served to expand the movement, increase its visibility and bring even more people into the fray. The NYPD actions transformed what would have been only a missed stitch in the tapestry of history into a national movement. This is the same kind of fuel that nourished the Solidarity movement in Poland.
This is our Open Thread. Hey! What are you guys in the brown shirts doing here? …
Several months ago, I did a search on “shoes made in USA”. Here is what I found:
Some sneakers for men and women by New Balance
And these industrial shoes made in Wisconsin.
With a few exceptions (some New Balance and some Converse), most sneakers are made in China. It doesn’t matter that the Chinese person making those sneakers gets paid about $8.00/day, we will still have to pay a bundle to purchase those sneakers. The same goes for shoes. My favorite shoes are Merrells because they feel good on my feet and I like their styles. I recently purchased some new shoes. When I read the label inside, my Merrells were “Made in China”. 😦
I said all that to make this point. If I had the money, I would start a shoe factory in the USA. The building would be eco-friendly and whenever possible, the shoes would be made from renewable sources such as bamboo and hemp and the soles would be made from recycled rubber. Some shoes would need to be made with waterproof materials. The most important feature of the shoes would be this… the shoes would feel good on a person feet.
The shoe factory would not become a Wall Street corporation and the owner would be limited to 5 times the salary of the lowest paid employee and every employee would be paid a fair, living wage which is greater than the minimum wage. There would be profit sharing for the employees where a percentage of the profit gets re-invested in the shoe factory and the employee then becomes a partial owner.
I would like to see MORE shoes made in the USA. At the prices we pay for shoes that are made in China, it wouldn’t cost any more for shoes made in the USA.
Unfortunately, I don’t have the money. This is just a pipe dream.
And this is our Open Thread. If you had the money, what would you invest in? Speak Up! Continue reading
Thom Hartmann gives an interesting explanation.
The United States Post Office is on the verge of shutting down. According to the New York Times – the Post Office is quickly running out of cash and may be forced to shut down this winter. While the media story line is that the Post Office is dealing with the problem of trying to remain profitable in a world of decreasing paper mail – the real cause is actually something much, much different. Consider that this year – like every year since 2006 – the Post Office is legally required to make a $5 billion annual contribution to a retirement account to pay for future retirees who aren’t even born yet. For more on this Thom Hartmann is joined by Chuck Zlatkin – Legislative and Political Director of the New York Metro Area Postal Union.
This is just another rung on the ladder to gut and then ‘privatize’ everything in this country. Thom talked about this on his radio show a couple of days ago. Congress voted to do this (under GW Bush five years ago). This legislation was passed by a voice vote with no record of how anyone voted. The legislation was sponsored by Rep. Tom Davis (R-VA11). It was H.R.6407 [109th]: Postal Accountability And Enhancement Act. When I listened to Thom Hartmann on his radio show discussing this a couple of days ago, he mentioned this piece of that legislation was slipped in during the dead of night—“the poison pill”—the piece that would kill the USPS.
There is a solution in Congress right now (HR1351), but it is likely to meet great resistance beings the Republicans want to knock out out the USPS, the unionized workers, and privatize it. Choke, destroy, dismantle, privatize. It’s once again the “Shock Doctrine“.
Thom urges everyone at the end of this video to contact their Congressman or Congresswoman and urge them to vote in favor of HR 1351: United States Postal Service Pension Obligation Recalculation and Restoration Act of 2011.
This video is a little more than 11 minutes in length. It’s an interesting perspective. Last week was bad news week. Can it get any worse?
This is our Open Thread today. My apologies for not having much more to say at this point. Perhaps you have something to add to the conversation so Speak Up!
Today is our 30 year wedding anniversary and we will be spending the day in Philadelphia doing the “freedom tour”.
For most of my life, I have lived in the southeastern part of Pennsylvania. During all these years, I have never seen the Liberty Bell. With the looming shutdown of our government due to its inability to pay the bills or the closing of government buildings due to the cuts, cuts and more cuts, now could be my last chance to get to Independence square and see some of the artifacts that are part of our nation’s beginning. It’s anybody’s guess as to what will happen if the US defaults on its debt. One thing for sure is that government employees would be laid off, seniors would not receive their Social Security checks, veterans would not receive their benefits, and nursing homes could close which would create more job losses. Basically, more people will be out of work and there will be less money to spend and BUSINESSES WILL SUFFER. Default is NOT an option. Our bills must be paid.
This is our open thread. I won’t be around today as I will be searching for freedom. You will need to Speak Up and do all the chatting.
Alperovitz is Lionel R. Bauman Professor of Political Economy at the University of Maryland. He is one of the founding principals of The Democracy Collaborative. Previously, he was a fellow at King’s College at Cambridge University, a founding fellow of the Institute of Politics at Harvard University, a fellow at the Institute for Policy Studies, a guest scholar at the Brookings Institution and a guest professor at Notre Dame University. He has also served as a legislative director in the US House of Representatives and the US Senate, and as a special assistant at the Department of State.
A land trust is simply a nonprofit corporation or a government agency that owns land, so that when development occurs, the profits of that development accrue to the owner, which in this case is public or nonprofit. And that’s very important in the context of gentrification, because if there’s a housing boom and the prices go up, poor people are kicked out because the prices are too high. So, if the land trust owns the land under the housing, it can stabilize housing costs. They already do this in many parts of the country because they are nonprofit corporations committed to low- and moderate-income housing.
Another example: when a city builds a subway system, land prices go up and the land becomes very valuable around every exit, because it’s a high-traffic area and commercial development is possible. So, who should own that land? If the city gives it away or sells it, then profits are made by the real estate developers. Many, many cities don’t do that now. They own the land and lease it so that they can make the profits from that implicit form of land trust, and pour it back, usually, into support for the mass transit system. That’s conventional now. What’s interesting about these various forms of democratizing ownership is that they’ve spread around the country in the last decade and a half and their numbers have gone from just a handful to hundreds. They answer a problem nothing else can. So, land trust development is an interesting example of what happens when there’s great pain. Traditional answers don’t work, and democratizing ownership in one or another way very often becomes a pattern.
You can read the entire interview here. It is well worth the time.
This week, President Obama speaks to us from the GM auto plant in Detroit, Michigan. Many jobs have been saved in auto companies that might have otherwise liquidated — despite the efforts and dire warnings of the “Just Say No crowd.”
He goes on to talk about the Small Business Jobs Act, a bill that would provide tax breaks and lending assistance for small businesses, so that they are able to build their business and hire more employees. Naturally, Republicans in the Senate faux-filibustered the bill. The President once again called on Republicans to “stop holding America’s small businesses hostage to politics” and allow an up or down vote on the matter. Remember when the Republicans were in front of the microphones just about everyday whining and demanding an up or down vote?
Finally, the President reminds us that Americans are tough, we work hard, and we don’t give up. We will push this country forward inch by inch — in spite of those working so hard to hold us back.
This post is far too late for morning coffee, but a nice afternoon tea maybe?
What is going on over here in Europe? Not really much, politically, most parliaments are in recess and backbenchers crowd to the microphones to get their 15 minutes until business as usual in politics resumes again. So both major news are not from politics, but from the Love Parade in Germany and, what else, BP.
Germans are looking in horror at reports of the stampede that happened during yesterday’s Love Parade in Essen.
Der Spiegel: (for those who rather not torment themselves with details, I copied only the mere facts below, so please read on at your own discretion)
By early afternoon, the techno party was already “desperately overcrowded,” Tim says. “The only entrance was through the tunnel, there was no other way to get to the site.” At the beginning, he said, the shoving “was almost fun.” Everyone was singing and chanting together, it was a friendly and relaxed atmosphere,” he reports. “That’s the point of the Love Parade, isn’t it?”
But then, things began to get more aggressive. “It was tight, hot, unbearable. Everyone wanted to get to the party, or just out of the crowd.” Some tried to find their own way out, slithering up poles or climbing a narrow staircase out of the crowd. Dehydrated, exhausted partiers where handed out over the heads of the masses. Some of those trying to climb out fell back into the crowd. When that happened, say police, mass panic broke out. (read more)
The Love Parade is the biggest techno party worldwide, the Zurich Street Parade, scheduled for August 14th, is competing for the title of the biggest techno event. There are concerns about the safety of the partygoers here, too. Increased of course by yesterday’s events. The Love Parade has been cancelled for good after the tragedy. It makes me unspeakably sad to think about all those young people who were setting out for a night of fun and had to witness or even get hurt or died in that horror.
Other headlines include the F1 Grand Prix in Hockenheim and Ferrari (spoiler alert), Franck Ribéry’s return to Munich after the dismal French World Cup adventure and the hooker scandal and Bayreuth greets the Rich, the Powerful and the Ugly for their annual Wagner opera festival. I would love to have tickets for Jonas Kaufmann‘s debut in Bayreuth, but the great unwashed must stand in line, or better not show their faces in any case.
BP’s chief executive Tony Hayward has been negotiating the terms of his exit, with a formal announcement likely within 24 hours, the BBC has learned.
Mr Hayward has been widely criticised over the Gulf of Mexico oil spill.
BBC business editor Robert Peston said it was likely he would be replaced by his US colleague Bob Dudley, now in charge of the clean-up operation. (read more)
Now, what does “negotiate” mean? Huh? We’re not talking golden parachutes, are we? What? A measly £ 10 millions ($ 15 million) package? Poor sod.
Hayward, 52, is today locked in meetings with the rest of the BP board about the final details of his financial leaving package, but he is expected to go under basic contractual terms. That means a one year’s £1m pay package but a giant pension pot of over £10m, capable of paying out more than half a million pounds a year from the formal retirement age of 60. (read more)
And, while we are talking about BP, the environment comes to mind. The Independent reports on the British water industry and what privatization means really:
Ofwat, the water industry watchdog, faces calls for it to be overhauled amid accusations that it is not doing enough to remedy leaking drinking water while privatised water companies enjoy soaring profits and consumers face high bills (read more)
So, enjoy your reading and have a nice Sunday all of you!
As we’ve learned recently, Afghanistan possesses a wealth of up to now undiscovered, or rather undisclosed, mineral deposits. In a world hungry for gold, lithium, copper, iron this was bringing out the buzzards double quick. The New York Times reports:
WASHINGTON — Mining companies around the world are eager to exploit Afghanistan’s newly discovered mineral wealth, but executives of Western firms caution that war, corruption and lack of roads and other infrastructure are likely to delay exploration for years.
A few high-risk investors are sufficiently intrigued by the country’s potential to take an early look. JP Morgan, for instance, has just sent a team of mining experts to Afghanistan to examine possible projects to develop.
Afghan officials have interpreted their mining regulations in such a way that if a company is awarded a concession to explore and then discovers valuable minerals, the government can tender the concession back and rebid it, undermining any incentive for a foreign firm to actually find large deposits, he said.
“They can take it back after you discover something,” Mr. Yeager said. “That needs to be corrected.”
It is not as if the minerals are theirs, heh! Understandably the Afghans themselves are suspicious:
Many Afghans I have spoken with believe firmly that America wants to permanently occupy the country in order to take Afghan land and resources. Even educated Afghan friends who generally support a temporary US presence have told me the same. I had to laugh when one suggested that Americans would want to move to Afghanistan to snatch up Afghan land for homes. (read more)
The mining corporations will be falling over themselves to get a foot in, never mind what they say now. They are used to securing their interests with their own security forces or mercenaries. Right now, they have the benefit of the US Army, but Obama plans to withdraw the troops beginning 2011. However, help can be found in the usual places:
Several lawmakers, including former presidential candidate and war hero Senator John McCain, have criticized Obama for setting deadlines, saying they empower the enemy who would wait it out for U.S. forces to leave.
“It’s time for the president to state unequivocally that we will stay in Afghanistan until we succeed,” said McCain, who said all the key trends were moving in the wrong direction. (read more)
Same old. Same old.
This is our open thread. Go ahead and tell us what’s on your mind today.
We have discussed the use of a nuclear device to kill the oil spill and I for my part have decided that’s too crazy to be considered. The cap is said to work, but I seriously doubt it. Remember when they cut the riser to put on the cap, the oil spill actually increased by some 20%. Some say the increase could be even 80%. As always, I can’t tell and I fear nobody really can and if they can, they won’t tell us. When they now claim they are funneling oil from the spill into a ship, is it really more than what the cutting of the riser caused in the first place? Are we really better off or only marginally so or even worse off now? This question remains unanswered.
I think what is obvious is: Oil continues to spill into the Gulf of Mexico which is already reeling from what has been already issued into the ecosystem since the Deepwater Horizon exploded. We need to consider what is going to happen to the crude oil once it’s out of it’s lair.
Nature will take care of it. That’s actually true. There are microorganisms out there which live off crude oil:
some individual species (Pseudomonas) can use up to 1000 different carbon compounds. What do they do with the oil ? Well basically they eat it just like you eat cereal. They use enzymes to break it up (metabolize it) using O2 turning it into CO2 and more microorganisms.
The word here is O2. There’s huge amounts of C(arbon) in the oil but not so much O(xygen). Where are the little buggers getting it from? Likely from the surrounding waters and the solute oxygen. What with the dead zones that are already there and getting worse in warmer temperatures, incidentally the temperatures where Pseudomonas gets really hungry, this is not really encouraging. Some kinds are even causing severe skin infections. Nevertheless it’s worth to take a closer look. Because these microbes exist and they seem to even develop where there is an oil spill:
A recently published article in Environmental Microbiology reveals that indigenous microbiota of the Galician shore is readily able to degrade crude oil. Scientists from the Estación Experimental del Zaidín (Spanish Council for Research, CSIC) in Granada investigated in situ crude oil degradation after the Prestige oil spill in November 2002.(read more)
How about introducing oil eating microbes into the Gulf, the environment is favourable, the Gulf waters are warm enough for them to thrive.
HAVANA, Aug. 31, 2005 (IPS/GIN) — Scientists think a product used in Cuba since 1992 to clean up oil spills with marine bacteria could prove useful for other warm-weather countries.
Bioil-FC has proven effective in changing the toxic compounds in hydrocarbons into biodegradable substances, turning them back into carbon dioxide and water. This inexpensive “bioproduct” also compares favorably against other products used to clean up hydrocarbon spills, Cuban scientists say.
“We have achieved more than 90 percent remediation (clean up) in a maximum of 30 days of application,” chemical engineer Roberto Nunez, director of CEBIMAR, a marine biological research center, told Tierramerica.
Expert sources from various countries consider a satisfactory biological clean-up for spills of petroleum and its derivatives to be 55 percent in three to four months.
“Bioremediation” is a technique for environmental detoxification through microorganisms that break down dangerous organic waste and turn it into less harmful compounds.
This method, available for the past 25 years, exploits the ability of some bacteria, yeast or molds to incorporate part of the dangerous compounds into their metabolism, for growth or for energy of the organism itself. (read more)
I have already voiced my concerns about the dead zones and the effect more oxygen depletion could have, but this is a natural process and if the oxygen depletes too much, the microbae would die and stop using more oxygen. I don’t advocate miracle cures, there are too many out there who do so. I don’t believe in miracles anyway. But I believe in the strength of nature and I think it can be put to good use. It’s cheap, it certainly less toxic than Dispersit or Corexit and the microbes, like any population will die off and reduce in numbers when they’re running out of food. These microbes already exist and are not genetically engineered for the purpose. So why don’t we hear much more of this?
Not manufactured? Not engineered? No money to be made!
The Dow Jones lost up to 997 points during trading today and closed at 347.80 points down. The Greek crisis was named as the reason, but nervousness about the whole Eurozone is more likely the background.
Question: What is Moody’s up to?
So taxpayers are asked to foot the bill again. European governments have decided on a bailout for Greece, so they can stay in the EMU (European Monetary Union), where they should not have been accepted in the first place.
It was Goldman Sachs, who else, who helped Greece to cook the books in order to make the 3% of GDP debt-threshold the EMU prerequisited for entering the EUROzone. Fully aware of their doings they, at the end of last year started to lay their bets on a default of Greek debts. This sent Greek bonds yields spiralling out of control, the latest was a 18% yield, a percentage Greece cannot afford to pay to borrow money to run their country. And all banks were busily selling Greek bonds to their customers, who in turn very much appreciated a (then) 5% yield to the almost nothing in interest you get on your money from your local bank.
Now what? Will the bonds default and leave the investors out in the cold? Will there be write-offs, so Greece can draw a little breath and get their debt situation sorted?
Fat chance. Deutsche Bank boss Ackermann has already issued one of his famous warnings of impending financial apocalypse if Greece wasn’t bailed out and should default on their debt. So, this knight in shining armour is saving the Eurozone’s economy from armageddon? Or is he helping the investors who bought the bonds from Deutsche Bank and by this saving the Banks reputation, their business and his bonus?
Not only Goldman sucks.
And: Portugal is next.