Burning the Midnight Oil to Drag Economics into the Real World

As Jerome a Paris has noted, among others, Paulson and others of his ilk have started blaming the Chinese and Germans for our economic woes:

The US Treasury Secretary said that in the years leading up to the crisis, super-abundant savings from fast-growing emerging nations such as China and oil exporters – at a time of low inflation and booming trade and capital flows – put downward pressure on yields and risk spreads everywhere.

This, he said, laid the seeds of a global credit bubble that extended far beyond the US sub-prime mortgage market and has now burst with devastating consequences worldwide.

What a sorry load of … well, let me go for a better analogy than that … and then dig more deeply into the whys and wherefores of its load of …

… uh, after the fold.

Burning the Midnight Oil for the Next American Revolution

We do not have a progressive populist movement in this country. We do not have an effective change coalition in this country. And the first implies the second, since successful progressive populism has been a component of all of our effective change coalitions for over a century.

To fend off the possible semantic quibble … yes, by an effective change coalition, I do mean to say change going forward. We have, obviously, had effective reactionary coalitions without a progressive populist component!

In sketching out the potential membership for an effective change coalition, I have previously identified farmers. And so I take special interest when Stranded Wind at the Daily Kos adopts a provocative and potentially quite divisive framing for discussion of organic farming “versus” sustainable production of chemical fertilizer such as ammonia (NH3) derived fertilizers produced with the harvest of sustainable, renewable electric power:

On one side of the field we have the hemp clothes and Birkenstocks set flinging organic tomatoes. The other side has Monsanto’s minions, flinging GMO hand grenades with one hand and trying to lasso producers with the other. The official federal referee of the USDA would like to help but their rules are the province of misguided ideologues and sociopathic transnational corporations.

Stuck in the middle is the puzzled farmer, who just wants a fair price for the work he does and some protection for when things go badly. They’d happily plow the earthly remains of all three of the above groups into the soil if it would increase yields and get unsolicited opinions out of their business.

A reaction, after the fold …

Burning the Midnight Oil for Living Energy Independence

I’ve been following with interest the discussion of California to Las Vegas HSR at the California HSR blog.

To catch up with the state of play, before the passage of CA-Prop 1A, Senator Majority Leader Harry Reid (D-Confusion), who hails from Nevada, supports a maglev line from Las Vegas to Anaheim, and there was an article in the Las Vegas Sun indicating that Gov. Schwarzenegger and Gov. Gibbons had talked up the maglev:

Near the bottom of a news release detailing Gov. Jim Gibbons’ meeting last month with President-elect Barack Obama was the announcement that Gibbons and California Gov. Arnold Schwarzenegger had agreed to move ahead with the high-speed train project.

“Arnold and I agreed to jointly work together on the project,” said Gibbons, who is planning to travel to Sacramento to talk with Schwarzenegger about it.

Also before the passage of CA-Prop 1A was the DesertXpress proposal to build a private Rapid Passenger Rail system to capture part of the stream of cars heading up the I-15 from LA to Las Vegas. The proposed system starts at Victorville.

Victorville? Why Victorville? If you’d care to follow along, and consider how CA-Prop 1A changes the whole picture, join me after the fold.

Burning the Midnight Oil is the evolution of the Midnight Oil series that evolved on Daily Kos earlier in the year.

Burning the Midnight Oil is a place for me to compose diaries that normally end up crossposted hither and yon, normally including Docudharma. It also has an eclectic RSS sidebar of some interesting blogs, but there are more interesting examples elsewhere on the Intertubes.

It also has a regular series of “New Oil” posts of links encountered on my way around the blogosphere, which then becomes “Burning Fires” as the next lantern is opened up to get its New Oil.

Since there’s only been one visitor to the Midnight Oil that I am aware of, I thought as a Christmas pressie, I’d share the New Oil for the last two months.

I have had a number of “I’d Like For Christmas” essays over the past three weeks … now its your turn.

To say you’d like Pedestrian/Cyclists transport infrastructure in the Infrastructure Stimulus Package, sign the Rails to Trails Infrastructure Petition and share it with your friends (as I’m doing here).

To say you’d like Rail and other Public Transport infrastructure investment, sign the Transportation for America Petition and pass it along.

To say you’d like a Green Stimulus Package, sign the Sierra Club Green Stimulus Package Petition and pass it along.

My Christmas List, below the fold.

Burning the Midnight Oil for Living Energy Independence and My Left Wing

Twin Cities Streets for People present The Future (result) of Freeway Expansion:

A little bit optimistic and a little bit pessimistic at one and the same time, I’d say … but, they really do have a very solid point.

Follow me over the fold for talks of an Exurban Cycle Commuter, and reflections on the risk of a Road Widening Stimulus Package.

Xposted to Agent Orange, My Left Wing, …

I have been following a “problem” with the stimulus, involving the “break ground in 3 months” guideline. That is, since we have had an eight year assault against public transport from the White House, with special focus on rail projects, we don’t have a lot of energy-saving public transport projects that can break ground in 3 months.

Robert Cruickshank discusses this on the California HSR blog: Obama and Congress to Screw Up the Stimulus.

However, Matthew Yglesias has a smart answer to this: Fast-Acting Transit.

More detail, after the fold.

Burning the Midnight Oil for Living Energy Independence, also available in Orange

This series started with the following clip:

And I have asked for Electric Trains (Part 1) and High Speed Electric Trains (Part 2). But I am greedy, so I want it all. What I really want is SUSTAINABLE High Speed Electric Trains.

First, it appears that Electric Trains, and Electric High Speed Trains, offer an important step in that direction already, since they offer substantial energy efficiencies … the most sustainable Watt is intelligent design that eliminates the need for that Watt.

Second, the foundation of the nationwide Electric Train system, the electrification of STRACNET, could be the “donkey that carries its own lunch” … there may be an opportunity to use the program to cost effectively accelerate harvesting of our nation’s sustainable renewable energy resources.

So, yes, I want a coast to coast, 100mph, electric freight and passenger train system. Yes, I want the break through the bottlenecks for the Acela in the NEC, establishment of the Empire Corridor, Keystone Corridor, Ohio Hub, Midwest Hub, Southeast Corridor, Gulf Corridor, T-Bone Corridor, Front Range Corridor, Cascadia Corridor, and the CA-HSR.

And, being greedy, powered sustainably.

Burning the Midnight Oil for Energy Independence also in Orange

For the last eight years, development of Energy Independent transport has been faced with a dog-in-the-manger administration fighting furiously to move forward into Cartopian vision of endless crude oil fueling endless road works so people can drive endless hours to actually get wherever they need to go to do whatever it is they need to do.

However, there is hope. This year, the Amtrak funding bill included substantial funding for restoring the North East Corridor to an adequate state of repair. On November 4, California passed Proposition 1A, providing $9.95b in bonds for the California High Speed Rail (HSR) and connecting infrastructure. And then, on November 19, John Kerry and Arlen Specter introduced the a bill for funding High Speed Rail projects:

Titled the High-Speed Rail for America Act of 2008, the bill would provide money for tax-exempt bonds to finance long-stalled high-speed rail projects.

So let’s look at the projects that are on the drawing boards.

Burning the Midnight Oil for Living Energy Independence (also in Orange)

Joe talks about trains to the National Governors Association:

(h/t Ryan Avent, Matthew Yglesias)

Three special Federal tasks are the provision of a coast to coast system of electric trains, support for a nationwide “Rapid Rail” network, and support for inter-regional corridors providing true High Speed Rail.

If we pursue the opportunities available to use now, using existing, well tested technology, we can have a big chunk of this job finished within eight years, and can have set things in motion to see an absolute Energy Revolution in inter-regional transport in this nations by 2024.

So it may not be this Christmas, but if we hit hard on this issue, its possible for us to say, “New York, you get an electric train. Boise, you get an electric train. Detroit, you get an electric train. Atlanta, you get an electric train. Amarillo, you get an electric train. …”

More, including maps, after the fold

I saw the silliest thing on the Intertubes today. In the commentary thread to a Matthew Yglesias being silly and putting up this bit of silliness (I assume the makers are dead serious … after all, if true, it only makes it all the sillier) … I read (emphases added):

{name deleted to protect the likely non-innocent} Says:

November 28th, 2008 at 11:22 am

… has been substantive, so let’s add:

It offers a way to increase the caloric demands of exercise without a concomitant increase of the stress on your joints and skeleton. A 130-lb woman running at 5 mph for 30 minutes burns only 263 calories. If she wants to burn more, her options are limited: increase time, increase slope, increase weight (with a weight belt). All those will increase her muscle output, but also increase the burden on her body. With this thing, she could attach weights and do more work without changing the burden on her joints. Could you add fifty-pound sandbags to a bicycle? Not without changing the balance a lot.

Entirely to one side of the vehicle in question … and in the context, what’s silly about the comment is that if you want a harder cardio work-out on a bike, you just seek out those hills that commuters are normally seeking to avoid … in what world is there any question of whether or not you could add fifty pound sandbags to a bicycle? Of course you could.

Mind you, how many fifty pound soundbags will determine exactly what provision you have to make.

Burning the Midnight Oil for Real World Economics

NB. New Oil links are now located at the Midnight Oil Blog

A while ago, as an off-shoot of the Beauty Platform, I set out a Beautiful Bail-Out plan.

Two key parts were: 50:50 on money going to help regular home buyers to extricate themselves from the mortgage meltdown, and on bailing out the finance sector from the mess they got themselves into …

… and having the finance sector bail out consisting of both unloading dubious assets and issue of Senior Preferred shares with heavy strings attached.

Now, the Administration did not, in fact, listen to me, but when Senator Dodd was complaining about what banks had done with their bail out money, waddya know … I got a perfect three out of three on what strings needed to be attached to the money:

• Limits on Mergers and Acquisition
  
• No payments of any other dividends
  
• Limits on Executive Compensation
  

… until the Senior Preferred Dividend had been paid for four quarters straight … and kicking back in if the firm in the future ran into problems meeting the Senior Preferred Dividend.

But … does the Beautiful Bail Out model extend to the Big Three?