Tag: myths

Cross posted from The Stars Hollow Gazette

Bruce Bartlett and Yves Smith on Overhyping the Fiscal Cliff

Bruce Bartlett and Yves Smith join Bill in a discussion about why Washington insiders are talking about the deficit crisis instead of the jobs crisis.

Transcript can be read here.

H/T Yves Smith at naked capitalism:

I had fun in this conversation with conservative Bruce Bartlett, even though he stole some of my best lines (like Obama not being a liberal). Bartlett is in exile from the Republican party for saying things like Keynesian deficits stimulate the economy (after doing research and finding he couldn’t debunk it based on data) and unions help promote higher wages.

Repeat after me, “Austerity is bad.“

Cross posted from The Stars Hollow Gazette

No one actually cares about the deficit

Chris Hayes, host of [Up with Chris Hayes ],  discusses the stand-off between President Obama and House Republicans over the “fiscal cliff,” the name given to the combination of the expiration of the Bush tax cuts and the sequestration cuts mandated by last year’s debt ceiling agreement. Chris’ “filibuster” in the first segment is a “Cliff Note” summation of the debate about the so-called “fiscal cliff.”

Chris is joined for a comprehensive, and somewhat wonky, discussion with Hakeem Jeffries, newly elected Congressman representing the 8th Congressional District in Brooklyn, New York State Assemblyman; Teresa Ghilarducci (@tghilarducci), labor economist and director of the Schwartz Center for Economic Policy Analysis at The New Schoo; Edward Conard, former partner at Bain Capital from 1993-2007 and author of “Unintended Consequences: Why Everything You’ve Been Told About The Economy Is Wrong;” Ohio Democratic Senator Sherrod Brown; and Molly Ball (@mollyesque), national political reporter for The Atlantic.

I found this article  about the debt/deficit/”fiscal cliff” from letdgetitdone quite interesting. It presents a very compelling argument, point by point, why this entire discussion about a “fiscal cliff” is a myth. He concludes his argument:

So, current claims that we have a fiscal crisis, must debate the debt, must fix the debt, and must immediately embark on a long-term deficit reduction program to bring the debt-to-GDP ratio under control, all misconceive the fiscal situation because they are based on the idea that fiscal responsibility is about developing a plan to bring the debt-to-GDP ratio “under control,” when it is really about using Government spending to achieve outputs that fulfill “public purpose.” There is no fiscal crisis that will require “a Grand Bargain” and cuts to popular discretionary spending and entitlement programs. It is a phoney issue.

The only real crisis is a crisis of a failing economy and growing economic inequality in which only the needs of the few are served. MMT policies can help to bring an end to that crisis; but not if progressives, and others continue to believe in false ideas about fiscal sustainability and responsibility, and the similarity of their Government to a household. To begin to solve our problems, we need to reject the neoliberal narrative and embrace the MMT narrative about the meaning of fiscal responsibility. That will lead us to fiscal policies that achieve public purpose and away from policies that prolong economic stagnation and the ravages of austerity.

Cross posted from The Stars Hollow Gazette

Despite Israeli Prime Minister Benjamin Netanyahu’s bleating  on Sunday’s talk shows about Iran being months away from having a nuclear weapon, there is no hard evidence that Iran is even seeking to build one. I’ve written three articles since January dispelling this myth, yet here we are again. The right wing war hawks and Bibi are at it propagate this fairy tail. Even Israel’s own intelligence community has agreed with the International Atomic Energy Agency and U.S. defense and intelligence officials who have said that they believe that Iran has not made a decision on whether to acquire nuclear weapons. So once more here are the facts from historian of the modern Middle East and South Asia Juan Cole:

1. ..] Netanyahu’s own Defense Minister, Ehud Barak, who admitted that [Iran has not decided to initiate a nuclear weapons program. Israel’s chief of staff, Benny Gantz, has also admitted that Iran has not decided to build a bomb.

2.  It is often argued that Iran does not need nuclear power. But it uses some petroleum for power generation, and Iranians are driving more and more. [..] Iran’s energy exports provide a crucial financial cushion, allowing the country to remain independent. Other oil giants, such as Saudi Arabia and the United Arab Emirates, are also building nuclear power plants. There is nothing illogical or unusual about Iran going in this direction.

3. It is alleged that Iran has threatened to annihilate Israel. It has done no such thing. Iran has a ‘no first strike’ policy, repeatedly enunciated by Supreme Leader Ali Khamenei. Iran’s president, Mahmoud Ahmadinejad, has expressed the hope that the ‘Zionist regime over Jerusalem” would ‘vanish from the page of time.’ But he didn’t threaten to roll tanks or missiles against Israel, and compared his hopes for the collapse of Zionism to the collapse of Communism in Russia. [..]

4. Supreme Leader Ali Khamenei has given a formal ruling or fatwa against nuclear weapons.

I skipped to 6

6. No, the International Atomic Energy Agency, on inspecting Iran, did not alleged evidence for bomb-making. It certified that no uranium has been diverted to a weapons program.

The last time that Iran launched a war of aggression was in 1826 when it attacked Russia over disputed territory. Iran, like the United States is a signatory of the Treaty on Non-Proliferation of Nuclear Weapons. Israel is not.

Mr. Netanyahu has been beating this drum since 1992. Iran is no closer now than it was then to having, or wanting, nuclear weapons. Yet, he and the right wing war hawks who took us into the Iraq misadventure, would have the world believe this fantasy. Pushing for another war in the Middle East would have very seriously negative consequences for the entire world.

It begins as helplessness.  Nothing more, nothing less.  I watch as oil spews from BP’s well into the Gulf of Mexico, killing sea life, destroying the ocean, ruining the breeding grounds near the shore.  The Gulf of Mexico is becoming a vast petroleum gumbo garnished with oil soaked sea birds and drowned turtles.  I watch this.  I wish that all of the wise men and women of the world could find a solution, could stop the flow.  But as the time elapses, and the 48 hour periods to know whether the flow can be stemmed mount up, it should be obvious to me.  There may be no solution.  At least not for the foreseeable future.  And by then, by then what even BP is calling a “catastrophe” will be that much more enormous.  That much more irremediable.  The leak will have killed much of the Gulf of Mexico, and unchecked, it will continue to kill.

Keith Olbermann thinks that Obama should show more anger about this.  That, he thinks, will show people that Obama is with them.  Or something.  Personally, I have more than enough unproductive anger about BP.  I don’t need it to be mirrored.  Or extended.  No.  What I want is internal.  I want to understand what BP is doing and has done to my interior landscape.  I want to come to terms with that.  And to comprehend it in this way, I use what I know: I look at the mythic, and I look at myself.  It’s Shamanism 101.

Please join me on this voyage.  

Well, it looks like the National Enquirer who brought us the live burial of John Edwards has finally got the goods on Barack Obama. It’s not enough Obama is an African Nationalist, Muslim Communist and Political Promise Breaker. Not enough he is a shiny-happy war criminal and smooth talking flim-flam man. Not enough Obama swings both ways while he lectures black daddies to take care of their birthing and babies.

President Obama is a philanderer. Our Tiger Woods President.