Blog on the Run: Reloaded

Friday, November 27, 2009 5:12 pm

Odds and ends for 11/27

  • Down in the desert: Dubai, whose potential sovereign-debt default is in today’s news, is messed up, economically and in other ways. Zero Hedge’s Marla Singer, who has spent time there, offers a pretty readable summary. Key takeaway: Dubai’s travails say a lot less about the pitfalls of capitalism than meets the eye.
  • Housing-market update: I’m not smart enough to know what to do about this, but more U.S. homes are in delinquency or foreclosure than are for sale.
  • The “deadbeat stimulus”: At least $160 billion a year.
  • Tim F. observes how the health-care reform bill is being set up to fail.
  • Martyrs: The people trying desperately to help Sarah Palin run her life are getting no help at all from the boss. I’m shocked.
  • The Obama-Bush Administration: The Obama Justice Department’s arguments against exoneration for former Alabama Gov. Don Siegelman are being prepared by the very same people involved in the original frame-up — the one in which Karl Rove was involved up to his eyeballs. So spare me all this talk about how much better things are in government now that Obama has replaced Bush.
  • So if we fire all the execs who ran the banking system into the ground, the banking system will crash and burn? Well, pardon me for agreeing with a former public official who barebacked a whore, but I’m thinking we should test that hypothesis.
  • Apologies are fine, but the Roman Catholic Church needs to take some of the time it’s spending on apologies and spend it on turning the guilty over to police. Also? Any institution with this kind of problem needs to get itself fixed before presuming to comment upon moral issues.
  • Relatedly, not only does a 2007 court filing by Bishop Thomas J. Tobin, last seen denying communion to Rep. Patrick Kennedy because Kennedy won’t oppose abortion, admit the existence of more than twice as many accused priests as the diocese had admitted just three years earlier, it also cites that high number (~125) as a reason why court-ordered disclosure of documents would be excessively “burdensome.” Awwwww …
  • Unproductive speculation: If anyone has any ideas about how to end it other than by taxing financial transactions — an idea devised in 1972 by a Nobel winner, by the way — I’m all ears. But it needs to end.
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Friday, November 20, 2009 9:33 pm

Odds and ends for 11/20

Huge win for the good guys, by which I mean taxpayers: House Finance Committee overwhelmingly and with true bipartisan support votes to audit the Fed. Barney Frank, previously a supporter, voted against. He’s going to need a damn good explanation.

Welcome to the 21st century, beehortches: Muslims want an anti-blasphemy law? Well, I want a jet pack and I ain’t getting that, either.

Come for the counsel, stay for the funny anecdotes (or vice versa): The NYT asks a shrink to tackle the fraught topic of holiday family get-togethers.

Transact this: Economist Dean Baker on the case for a financial-transaction tax. Short version: Yes, it would raise (microscopically) the cost of capital, but like booze and cigarette taxes, it would discourage something harmful: in this case, the kind of high-frequency, high-volume, low-value trading currently dominating the stock market. (Let’s face it, when the market can go up significantly on a day when more than a third of all trading involves the stock of just four companies — four basically insolvent companies — does the economy really benefit?)

Show some respect: A large majority of Americans, and 53% of Republicans, think it’s OK for the president of the United States to bow to the leader of a foreign country he’s visiting when it’s custom to bow in that country, according to a poll from that hotbed of pro-Obama liberalism, Fox News (question 18).

Shorter Amanda Hess, for the win: Why is sexism only a problem when it affects Sarah Palin?

Funding priorities: Can we please all agree that whatever else goes into health-care reform legislation, it ought not contain a dime for stuff that doesn’t work? Or has Teh Stoopid rendered even that common-sense position untenable?

Consumer advocacy: Elizabeth Warren sez, “We need a new model: If you can’t explain it, you can’t sell it.”

Once-a-century confluence?; or, Who are you and what have you done with the senator?: When Sen. James Inhofe and former New York Gov. Eliot Spitzer agree that it’s time SecTreas Tim Geithner resigned, maybe it really is time Tim Geithner resigned.

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