Milky Way, meet Andromeda. NASA has predicted that our galaxy will meet its close neighbor head-on in about 4 billion years, forming a new galaxy. Great story, with video and photos. Man, to see that new night sky would be something!
31 May 2012
Thursday, May 31, 2012
DOMA Unconstitutional
The Defense of Marriage Act, while certainly be unconstitutional as well as immoral, was actually ruled unconstitutional in part by a federal appeals court. This is a big step in having the law overturned and almost-certainly means that it will be reviewed by the Supreme Court. Note that the review was limited to a particular issue and did not legally consider the law on a broader basis. When the Supreme Court reviews the law it can simply affirm or invalidate the law on these limited issues or do so more broadly. Lower courts lack this flexibility in practice. Also note that the panel was made up of two Republican appointees and one Democratic appointee. Stories about the ruling can be found on The Huffington Post and TPM. You can read the actual decisoin here.
31 May 2012
31 May 2012
Wednesday, May 30, 2012
Shawn Colvin - Unknowns
Shawn Colvin has a new album out next week and I'm very excited. I was doing some checking for videos and came across two songs with which I wasn't already familiar. Just posted for music; videos are fan creations.
When You Know
Crazy
I am very familiar with this cover -- my favorite, and that is saying something -- and I wanted to share.
You're Gonna Make Me Lonesome When You Go
30 May 2012
When You Know
Crazy
I am very familiar with this cover -- my favorite, and that is saying something -- and I wanted to share.
You're Gonna Make Me Lonesome When You Go
30 May 2012
Shakira - She Wolf
Shakira - She Wolf
And just for fun, I'm going to throw in Whenever, Whereever because it's a great song.
30 May 2012
And just for fun, I'm going to throw in Whenever, Whereever because it's a great song.
30 May 2012
Friday, May 25, 2012
Ikea Cat Organizer
A coworker forwarded this to me, knowing I'd love it. There but for the grace of my wife go I.
25 May 2012
25 May 2012
Wall Street Attacks
Paul Krugman details in the NY Times how Wall Street bankers are lashing out at criticism in a good op-ed titled Egos and Immorality. Study after study proves that our current structural financial woes can be traced to the election of Ronald Reagan and the saddest part is that Democrats have not only been a part of this slide, but have contributed to the change in both our political discourse and our collective world view. One need look no further for proof than the actions of former Speaker of the House Nancy Pelosi this week. Americans simply view "the way things are" differently now and it has boxed us into policies that are destructive to the country and its citizens.
25 May 2012
25 May 2012
Wednesday, May 23, 2012
Obama, Spending, & 2013
Two good stories at TPM today about spending. The first details how spending growth under President Obama is actually lower than it was under Presidents Reagan, Bush 1, Clinton, or Bush 2. This isn't new news, but facts truly can be submerged if you repeat a lie often enough. Politics and power versus leadership and stewardship.
The second details how the sequestration and tax cut expiration will combine to hurt the economy and how Republicans are coming around to admitting spending supports jobs in troubled economic times. Granted, they are only for military spending and against everything else. Sure, this makes them duplicitous, but this is only another straw on the camel. BTW, the CBO numbers indicate that the safest path is allowing the Bush tax cuts to expire and to have the sequestration go through. The economy won't be helped in terms of jobs, but it won't be slammed either. Of course, having an actual plan that includes targeted tax increases and spending cuts would be ideal, but anyone who thinks that will happen anytime soon need to purchase the bridge I have for sale in Brooklyn.
From the article by Brian Beutler:
23 May 2012
The second details how the sequestration and tax cut expiration will combine to hurt the economy and how Republicans are coming around to admitting spending supports jobs in troubled economic times. Granted, they are only for military spending and against everything else. Sure, this makes them duplicitous, but this is only another straw on the camel. BTW, the CBO numbers indicate that the safest path is allowing the Bush tax cuts to expire and to have the sequestration go through. The economy won't be helped in terms of jobs, but it won't be slammed either. Of course, having an actual plan that includes targeted tax increases and spending cuts would be ideal, but anyone who thinks that will happen anytime soon need to purchase the bridge I have for sale in Brooklyn.
From the article by Brian Beutler:
If all the fiscal tightening scheduled for the beginning of the year is allowed to take effect, it will take a huge bite out of the projected deficit for the coming fiscal year. Unfortunately, it’ll take a similarly large bite out of GDP — enough to threaten a new recession. And the resulting job losses would reduce tax revenues and increase spending on jobless benefits enough to undo billions of dollars in direct deficit reduction.
Per CBO: “Taken together, CBO estimates, those policies will reduce the federal budget deficit by $607 billion, or 4.0 percent of gross domestic product (GDP), between fiscal years 2012 and 2013. The resulting weakening of the economy will lower taxable incomes and raise unemployment, generating a reduction in tax revenues and an increase in spending on such items as unemployment insurance. With that economic feedback incorporated, the deficit will drop by $560 billion between fiscal years 2012 and 2013, CBO projects.”
Conversely, if all of current policy — the Bush tax cuts, the payroll tax holiday, federal spending, etc — is extended, economic growth will boom next year. If Congress picks a middle ground approach — extending the Bush tax cuts but nixing the automatic spending cuts — CBO forecasts modest growth, but no major economic hit.
They obliquely conclude that the wisest economic path for Congress to take would be to defer most or all of the scheduled fiscal restraint, while simultaneously enacting deficit reducing legislation that won’t take effect until the economy’s on sounder footing.
“What would happen if lawmakers changed fiscal policy in late 2012 to remove or offset all of the policies that are scheduled to reduce the federal budget deficit by 5.1 per- cent of GDP between calendar years 2012 and 2013?” CBO asks. “In that case, CBO estimates, the growth of real GDP in calendar year 2013 would lie in a broad range around 4.4 percent, well above the 0.5 percent projected for 2013 under current law. However, eliminating or reducing the fiscal restraint scheduled to occur next year without imposing comparable restraint in future years would reduce output and income in the longer run relative to what would occur if the scheduled fiscal restraint remained in place.”
23 May 2012
Monday, May 21, 2012
A Mom & Her Son
Children have never been on my personal radar. Upending one's life and having a child seems crazy. Having more than one seems positively masochistic. That said, I fully realize that if everyone shared my view, the human population would no longer be a population. (Debating the merits of that is a topic for another time.)
Today, I will simply say that I appreciate this mother's joy. May she always feel -- and be -- blessed.
21 May 2012
Today, I will simply say that I appreciate this mother's joy. May she always feel -- and be -- blessed.
21 May 2012
Paul Krugman on Bank Regulation
Krugman has written a piece on the necessity of prudent and strict bank regulation, noting issues relating to both Mitt Romney and the melt-down at JPMorgan-Chase. It is, as usual, spot-on.
From the article in the NY Times:
21 May 2012
From the article in the NY Times:
Anyway, it goes without saying that Jamie Dimon is no Jimmy Stewart. But he has, in a way, been playing Jimmy Stewart on TV, posing as a responsible banker who knows how to manage risk — and therefore the point man in Wall Street’s fight to block any tightening of regulations despite the immense damage deregulated banks have already inflicted on our economy. Trust us, Mr. Dimon has in effect been saying, we’ve got this covered and it won’t happen again.
Now the truth is coming out. That multibillion-dollar loss wasn’t an isolated event; it was an accident waiting to happen. For even as Mr. Dimon was giving speeches about responsible banking, his own institution was heaping on the risk. “The unit at the center of JPMorgan’s $2 billion trading loss,” reports The Financial Times, “has built up positions totaling more than $100 billion in asset-backed securities and structured products — the complex, risky bonds at the center of the financial crisis in 2008. These holdings are in addition to those in credit derivatives which led to the losses.”
And what was going on as these positions were being accumulated? According to a fascinating report in Sunday’s Times, the reality behind JPMorgan’s facade of competence was a scene all too reminiscent of the behavior that brought down firms like A.I.G. in 2008: arrogant executives shouting down anyone who tried to question their activities, top management that didn’t ask questions as long as the money kept rolling in. It really is déjà vu all over again.
The point, again, is that an institution like JPMorgan — a too-big-to-fail bank, not to mention a bank whose deposits are already guaranteed by U.S. taxpayers — shouldn’t be engaged in this kind of speculative investment at all. And that’s why we need a return to much stronger financial regulation, stronger even than the Dodd-Frank regulations passed back in 2010.
Will we get that kind of regulation? Not if Mr. Romney wins, obviously; he wants to repeal Dodd-Frank, and in general has made it clear that he would do everything in his power to set us up for another financial crisis. Even if President Obama is re-elected, getting the kind of regulation we need will be an uphill struggle. But as Mr. Dimon’s debacle has just demonstrated, that struggle remains as necessary as ever.
21 May 2012
Friday, May 18, 2012
Thursday, May 17, 2012
Wednesday, May 16, 2012
Romney & the National Debt
Mitt Romney gave a speech yesterday on the national debt and pretty much all watchers are united in their reviews. It would seem that Romney played fast and loose with the truth. Hell, even the AP is calling him out! Can Fox News be far behind? Hope springs eternal.
16 May 2012
16 May 2012
Tuesday, May 15, 2012
New Blog Category: Music
I'm starting a new blog category tag today. "Music" will be about, you guessed it, music. It may include stories that are related to the topic or simply songs that I like. I will likely link videos, sometimes simply to remind myself later to download the MP3 for my Walkman. Enjoy.
15 May 2012
15 May 2012
Monday, May 14, 2012
Friday, May 11, 2012
Obama & Gay Marriage
The president came out in favor -- finally -- of allowing gay marriage in the United States. This is a positive step for the country and I hope that future actions by his administration will put his words into practice.
Both Jon Stewart and Stephen Colbert had their take on the announcement and the response to it.
Stewart
Colbert 1
Colbert 2
11 May 2012
Both Jon Stewart and Stephen Colbert had their take on the announcement and the response to it.
Stewart
Colbert 1
Colbert 2
11 May 2012
Tuesday, May 8, 2012
Paul Krugman: Involuntary Unemployment
The Huffington Post has an exerpt from Chapter One of Krugman's new book End this Depression Now! It deals with the Economics of Happiness in relation to the Great Recession and the all-too-slow recovery. Not overly short, but worth the read.
8 May 2012
8 May 2012
Friday, May 4, 2012
Labor Force Participation
TPM has an interesting story about Labor Force Participation, the unemployment figures, and changing trends in the US.
4 May 2012
4 May 2012
Funny or Die: The West Wing
Funny or Die has reunited much of The West Wing cast in support of a walking excercise initiative. The clip features the class West Wing "Walk and Talk" and is pure win.
4 May 2012
May the Fourth be with you... always.
4 May 2012
May the Fourth be with you... always.
Thursday, May 3, 2012
Paul Ryan & Medicare
The Huffington Post has an interesting article about Henry Aaron, the mastermind behind Paul Ryan's plan for Medicare. Mr. Aaron no longer believe in his ideas, having seen no indication that either the economic or political suppositions underpinning the model are correct. He appeared recently before Congress to explain exactly why Ryan's plan won't work.
3 May 2012
3 May 2012
Tuesday, May 1, 2012
Disjointed Campaign Discourse?
Brian Beutler of TPM has an interesting take on the seemingly-disjointed rhetoric coming out of the 2012 campaigns for national office. From the story:
.
1 May 2012
If the parties believed the 2008 election was about to repeat itself, or that President Obama was so damaged that Republicans were headed to a decisive victory of their own, the news these days would look a lot different. But what the data show, and what the parties’ actions reflect, is the fact that familiar Democratic and Republican coalitions are taking shape again — that an evenly divided electorate will determine the outcome of the 2012 election, much as it did in years past.
And that means the parties are fighting for votes at the margin — locked in equal and opposite efforts to rally their own bases, depress their opponents’ and maybe, if they’re lucky, make inroads with typically hostile constituencies.
Aim the past weeks’ disjointed news through this prism, and an ordered logic comes out the other side.
.
1 May 2012
Subscribe to:
Posts (Atom)