The Red White and Blue Pill
I am the very model of a Stable Genius Liberal.
Austerity pushing Europe into social and economic decline, says Red Cross
“Many from the middle class have spiralled down to poverty. The amount of people depending on Red Cross food distributions in 22 of the surveyed countries has increased by 75% between 2009 and 2012. More people are getting poor, the poor are getting poorer.”
Sad thing is that many will read that and blame the Red Cross handouts for creating poverty and dependance.
Austerity isn’t working.
Janet Yellen on macroprudential regulation
Yglesias does a good job summarizing a kind of dry speech. I don’t think anyone should be worried about her being unqualified.
The Debt Ceiling and the Housing Bust
You can argue that these spending cuts wouldn’t have as much impact as the housing bust, because payment would be delayed, not cancelled, and at least some players would continue to expect eventual payment. On the other hand, as I pointed out in my last post, this time around we would have disconnected the automatic stabilizers — as GDP fell, revenues would fall, forcing another round of spending cuts, and so on.
GOP seems to prefer vicious cycles to virtuous ones.
Krugman: Automatic Destabilizers
The immediate question is whether Treasury can, in fact, “prioritize” — pay interest on the debt while stiffing everyone else, from vendors to Social Security recipients. If they can, they might choose to do this to avoid financial meltdown.
My worry s that once people stop getting paid the GOP will decided that they have more leverage and make greater demands.
Ron Paul supporter signs up for Obama care after having a health scare. (Source: https://www.youtube.com/)
House votes to approve back pay for furloughed workers
Congratulations Tea Party, you just gave all those Gubmit workers you hate a paid vacation while denying tax payers of the public services they provide. You increased government cost, didn’t shrink its size one bit and had an unproductive temper tantrum in public.
Remember when Republicans were worried about ‘economic uncertainty’?
Krugman nails it.
Christian TV Host Asks God for ‘Military Takeover’ of Obama’s Presidency
But it’s ok because he isn’t Muslim.
Rick Nolan, Dem Rep, Introduces Bill Blocking Congressional Pay During Government Shutdown
The “No Government – No Pay Act” would stop members from being paid their salaries for as long as a shutdown continues.
Forbes Calls Goldman CEO Lloyd Blankfein Holier Than Mother Teresa
there are still huge pockets of these Fountainhead junkies who genuinely believe that the Blankfeins of the world are reviled because they’re bankers and they’re rich, and not because they’re the heads of unprosecutable organized crime syndicates who make their money through mass fraud, manipulation and the shameless burgling of public treasure.
The Ayn Rand crowd insists this is jealousy and not well earned revulsion.