Rock on.
Saturday, April 11, 2009
Deep Thought
I'll only let Google search and index this blog if they promise to make it the top result for all search queries. Well, okay, I'll settle for the top result for "wanker."
Such Awesome Policy
Nobody could predict that this might not be such a hot idea.
PHOENIX — Battered by the recession and the deepest and most widespread budget deficits in several decades, a large majority of states are slicing into their social safety nets — often crippling preventive efforts that officials say would save money over time.
President Obama’s $787 billion stimulus package is helping to alleviate some of the pain, providing large amounts of money to pay for education and unemployment insurance, bolster food stamp programs and expand tax credits for low earners. But the money will offset only 40 percent of the losses in state revenues, and programs for vulnerable groups have been cut in at least 34 states, according to the Center for Budget and Policy Priorities, a private research group in Washington.
Not Necessarily A Contrast
Disagreeing slightly with Eric at the mothership, I'm not sure the quoted excerpts reflect vastly different opinions. I don't hate newspapers. I doubt Markos does. I'd be sad if something similar to printed newspapers didn't continue to exist. I'd be more sad if the best of what those news organization provide ceased to be in any form because the business model went away.
I think what happens in these discussions - and I've been guilty of it myself - is the conflation of a few different issues. One conversation is about how newspapers could change, perhaps shrugging off certain somewhat odd constraints, to be a more appealing product. That's the subscriber side. Another conversation is about the various reasons, other than declining readership, for declining advertising revenue. Still a third conversation is about all the awesome things newspaper organizations coulda shoulda and maybe still could do to improve their internet business model.
And Markos is referencing a fourth conversation,the quietest one, about how some of the companies who own newspapers are in trouble not because the business models are in trouble, but because they just made stupid fucking business decisions. That is, they bought the companies at absurd prices, or just built a shiny new skyscraper, or invested in Egyptian cotton futures, or whatever. These are things which are completely divorced from the daily operations of the newspaper, but which could still bring the companies down.
I think what happens in these discussions - and I've been guilty of it myself - is the conflation of a few different issues. One conversation is about how newspapers could change, perhaps shrugging off certain somewhat odd constraints, to be a more appealing product. That's the subscriber side. Another conversation is about the various reasons, other than declining readership, for declining advertising revenue. Still a third conversation is about all the awesome things newspaper organizations coulda shoulda and maybe still could do to improve their internet business model.
And Markos is referencing a fourth conversation,the quietest one, about how some of the companies who own newspapers are in trouble not because the business models are in trouble, but because they just made stupid fucking business decisions. That is, they bought the companies at absurd prices, or just built a shiny new skyscraper, or invested in Egyptian cotton futures, or whatever. These are things which are completely divorced from the daily operations of the newspaper, but which could still bring the companies down.
Friday, April 10, 2009
Snorting
Markos has a bit more on the stupid Morton plan. Anyway, the reason why I do snort with derision at these things it's often clear that journalists writing about how to save their business model have zero understanding of what their business model is, and have so much contempt for the people who are trying to pay the bills that they don't even bother to talk to them about it. Let's just charge more for advertising! Someone tell the ad sales people to get right on that!
We're Doomed
This Time article about how we've already turned the machines back on again and everything is awesome is probably a sure sign that we are well and truly fucked.
If we ignore all the losses, the banks are profitable!!
If we ignore all the losses, the banks are profitable!!
Lucy's Football
Goldman Sachs they really might, maybe, possibly, because they really really want to, pay back the government money, well, any day now. Just wait!
April 10 (Bloomberg) -- Goldman Sachs Group Inc. is considering a multibillion dollar share sale to help repay a $10 billion government loan, the Wall Street Journal reported, citing people familiar with the matter.
The New York-based company may make an announcement as soon as next week, according to the report. The Journal said the exact amount is yet to be decided and a final decision may depend on market conditions.
Meanwhile
Over there.
BAGHDAD (AP) -- The U.S. military says five American soldiers were among seven people killed in a suicide truck bombing in the northern Iraqi city of Mosul.
Fancy Finance
Krugman:
Warning should've been when people started referring to "financial products." Financial institutions are middlemen, skimmers. They don't produce anything. "Financial innovation" is almost entirely a ridiculous concept.
Part of the problem is that boring banking would mean poorer bankers, and the financial industry still has a lot of friends in high places. But it’s also a matter of ideology: Despite everything that has happened, most people in positions of power still associate fancy finance with economic progress.
Warning should've been when people started referring to "financial products." Financial institutions are middlemen, skimmers. They don't produce anything. "Financial innovation" is almost entirely a ridiculous concept.
Thursday, April 09, 2009
Good Luck With That
You're not monopolies anymore. Deal with it.
Yes, "Charge advertisers the same for online or print space." That'll work.
Therefore, I propose what I immodestly call "The Morton Plan" for saving newspapers. I call on all you publishers to decide individually (to ward off the antitrust folks) to charge for Internet access to your newspaper content: Offer your readers the choice of getting their paper online, with the advantages of expanded information and search capabilities, or in print for the same price. A modest premium would give them both. Charge advertisers the same for online or print space, based on print's current cost-per-thousand for advertising.
Decide, individually, that you will make these changes on July 4, 2009, a fitting day for a nation founded on the belief that a free press is necessary for government to function properly. If the Feds come complaining about a conspiracy, tell them: "I didn't conspire with anybody. Morton made me do it."
Yes, "Charge advertisers the same for online or print space." That'll work.
Still Wanking
It's as if there's this rule which requires Village journalists to pass on any Republican horseshit without contradiction.
The Bastards Are Still In Charge
Just echoing what Chris writes, it is profoundly disturbing to see the degree to which elites in business and government and the celebrity press are immune from the consequences of their actions.
Fail
As Kevin says, it's a bit hard to figure out exactly what's going on in the NYT article. After reading it a couple more times I think it's something like this:
1) They're very frightened of suggesting that any of these big financial institutions might actually fail because they don't want to cause any panics. So, DON'T WORRY EVERYBODY KEEP THE PARTY GOING.
2) But they're suggesting that maybe, just maybe, some of those banks might need a bit of support WHICH WE WILL OF COURSE PROVIDE in exchange for... well, maybe something!
So, don't worry customers. Probably don't worry bondholders. And stockholders? Wait and see suckers!
1) They're very frightened of suggesting that any of these big financial institutions might actually fail because they don't want to cause any panics. So, DON'T WORRY EVERYBODY KEEP THE PARTY GOING.
2) But they're suggesting that maybe, just maybe, some of those banks might need a bit of support WHICH WE WILL OF COURSE PROVIDE in exchange for... well, maybe something!
So, don't worry customers. Probably don't worry bondholders. And stockholders? Wait and see suckers!
Beware Of The Hippies
Simon Johnson:
The case for keeping banks in something close to their current structure begins to take shape. It’s not about traditional claims that big banks are more efficient, or Lloyd Blankfein’s argument that this is the only way to encourage risk-taking, or even the House Financial Services Committee view that immediate resumption of credit flows is essential for preserving jobs.
Rather, the argument is: those opposed to banks and bankers are angry populists who, if unchecked, would do great damage. Bankers should therefore agree to some mild reforms and more socially acceptable behavior in the short-run; in return, the centrists who control economic policymaking will protect them against the building backlash. This is a version of Jamie Dimon’s line: “if you let them vilify us too much, the economic recovery will be greatly delayed.”
Saving The Media
One does wonder how these geniuses could possibly be having any troubles with their business model.
Such An Awesome World
The New York Times tells us that none of the banks will fail the stress tests if you account for the fact that anytime they need help the taxpayers will step in.
What they are discovering may come as a relief to both the financial industry and the public: the banking industry, broadly speaking, seems to be in better shape than many people think, officials involved in the examinations say.
That is the good news. The bad news is that many of the largest American lenders, despite all those bailouts, probably need to be bailed out again, either by private investors or, more likely, the federal government. After receiving many millions, and in some cases, many billions of taxpayer dollars, banks still need more capital, these officials say.
...
Regulators say all 19 banks undergoing the exams will pass them. Indeed, they say this is a test that a bank simply will not fail: if the examiners determine that a bank needs “exceptional assistance,” the government, that is, taxpayers, will provide it.
Can Anyone Take A Position On Anything?
I get, if don't really agree with, the idea that reporters feel constrained about their ability to take a position on an issue. But the editorial page... editorializes! Surely the editors of an editorial page, even one committed to publishing a range of opinions*, can take a position on whether something is true or false.
Maybe they're also an arm of Iranian intelligence. Lately I find when no other explanation makes sense, that's probably the answer.
*If from the new republic to the free republic constitutes a wide range.
Maybe they're also an arm of Iranian intelligence. Lately I find when no other explanation makes sense, that's probably the answer.
*If from the new republic to the free republic constitutes a wide range.
He's Talking About Himself
Yes, George Will sounds like he's yelling at clouds, but no one seems to have picked up on the fact that his column is about him. He's the umpire! Get it!!!
An umpire can fail once in a high-stakes moment and be remembered for that forever. It is amazing how rarely they fail as they strive not to be noticed in their pursuit of unobtrusive perfection.
Ramey Ko
Such awesomeness.
Brown suggested that Asian-Americans should find a way to make their names more accessible.
“Rather than everyone here having to learn Chinese — I understand it’s a rather difficult language — do you think that it would behoove you and your citizens to adopt a name that we could deal with more readily here?” Brown said.
Brown later told Ko: “Can’t you see that this is something that would make it a lot easier for you and the people who are poll workers if you could adopt a name just for identification purposes that’s easier for Americans to deal with?”
Thursday Is New Jobless Day
Still deep into holy crap territory.
In the meantime, the U.S. trade deficit shrank by 28.3 percent in February to its smallest since November 1999 while import prices rose in March, advancing for the first time in eight months, as petroleum costs increased at their fastest pace since November 2007, according to a U.S. government report showed Thursday.
Initial claims for state unemployment insurance benefits fell 20,000 to a seasonally adjusted 654,000 in the week ended April 4, from an upwardly revised 674,000 the week before, the Labor Department said.
Atrios is going Gaultier
Please don't think about that line too much, like Joe Lieberman's "laser plane" -- "it's all I have left".
Wednesday, April 08, 2009
Staring At You From Every Corner
The City Paper takes the art of link trolling to previously unimagined heights, ensuring my friends will be laughing at me for weeks.
Perhaps You Could Just Do A Better Job
Tim Windsor has the crazy idea that instead of spending their time worrying about who they should sue, the AP should focus on creating a better competing product.
I'm not unsympathetic about copyright issues. I'm conscientious about fair use concepts on this site. But the alternative to linking and quoting is... not linking and not quoting. But guess what? I can just "rip and paraphrase" anyway. I know it isn't what people are used to, but linking and quoting on the internet seems to provide more respect for the original as well as for the business model by driving traffic.
I'm not unsympathetic about copyright issues. I'm conscientious about fair use concepts on this site. But the alternative to linking and quoting is... not linking and not quoting. But guess what? I can just "rip and paraphrase" anyway. I know it isn't what people are used to, but linking and quoting on the internet seems to provide more respect for the original as well as for the business model by driving traffic.
Not Just Ukraine
I think thus far people have underestimated the degree to which a prolonged economic recession could led to various types of social unrest. We shouldn't just be worrying about Ukraine.
Higher Prices?
My personal experience with Amtrak recently is that they've raised rates on a lot of routes, coupled with a lot more differential pricing (either just for different times of day or raising rates when trains get close to full).
Bringing On The Crazy
To answer John's question, the crazy wing of the religious right believes, or claims to believe, that if gay marriage is legal then pastors will be arrested for refusing to performing wedding ceremonies and demented folks like Dreher will be arrested for publicly expressing their bigotry.
The Cars Are Flat
Somebody went a bit nuts last night.
Police are looking for the driver of a yellow Corvette who fled on foot, leaving behing blood on an air bag, after smashing into at least eight cars on a South Philadelphia street early today.
One officer described the scene of mangled metal at S. 18th and Moore Streets as something out of a movie.
Dial-up rescue thread
I haven't had the nerve to check the news yet. Anything weird happen while I was asleep?
Signed,
Not Atrios
Signed,
Not Atrios
Tuesday, April 07, 2009
Wingnuttery
I was talking with BooMan tonight about how dumb and empty right wing bloggers are these days. I suggested that the equivalent on our side would have been if in 2003 left wing bloggers spent all their time talking about their designs for the giant puppets they were going to bring to the anti-war demonstrations.* After reading this, that characterization seems to be pretty solid.
*To be clear I have nothing against protests or giant puppets.
*To be clear I have nothing against protests or giant puppets.
Articles That Probably Won't Be Written
You may remember all the things written during the Lieberman/Lamont primary about how horrible it was for Democracy and the country to dare to have a contested primary, especially with a candidate who was a complete dirty fucking hippie like Ned Lamont. It was all very entertaining given how few of those types of articles were written when, in 2004, arch-conservative Pat Toomey almost beat Arlen Specter in the Pennsylvania Senate Primary.
And now that we're having a rematch of that battle I doubt many will be written this time either.
Ned Lamont, artist's conception.
And now that we're having a rematch of that battle I doubt many will be written this time either.
Ned Lamont, artist's conception.
Rebuking George F.
I was also heartened to see WaPo reporters being allowed to gently rebuke the buffoon that's helping to destroy the reputation of their paper.
Looks Kinda Pretty
A not often remarked upon issue in this country is how much newly constructed infrastructure, especially bridges, tend to be really ugly. This design for one carrying supertrains in Portland, at least in the picture, looks pretty! Pretty bridges in urban spaces can really enhance the quality of a place. And, yes, I'm talking about you and those ugly bridges across the Schuylkill, Philadelphia...
Time For Another Blogger Ethics Panel
I suppose there are worse things than this, but it's just another instance of journalistic standards being more about declaring you have standards then living up to them in a meaningful way.
So Awesome
The best use for waterfront property is obviously a giant parking lot.
I have an idea - build the casino by the damn stadiums where there are already acres of parking lots. That football stadium doesn't get used that often.
Steinberg said the SugarHouse developers had taken some of those recommendations to heart but remained wedded to an "auto-centric" project. He said the surface parking for the interim facility, with spots for 1,465 cars, would look like the parking around the stadium district.
I have an idea - build the casino by the damn stadiums where there are already acres of parking lots. That football stadium doesn't get used that often.
Fabulous
This is awesome.
Vermont today became the fourth state to legalize gay marriage — and the first to do so with a Legislature’s vote. The Burlington Free Press reports that Gov. Jim Douglas’ veto of a bill allowing gays and lesbians to marry was overturned by a 23-5 vote in the state Senate and 100-49 in the House.
Segway The Second
I think a big problem for vehicles like this is that they aren't all that compatible with the existing universe of roads and cars. Happy to be wrong.
Liars for Jesus
Rick Warren edition.
I guess Jesus says it's ok to be a bigot as long as you lie to Larry King about it.
I guess Jesus says it's ok to be a bigot as long as you lie to Larry King about it.
WAHHHHHHHHHHHHHHHHHHHHH
WATB alert:
Reduced regulatory oversight...of banks and big financial institutions. Loans to unqualified borrowers made by... banks.... People took our mortgages and home-equity loans from they couldn't afford from...banks who abandoned underwriting requirements.
The rich assholes who run the world are babies.
HONOLULU - Citigroup Inc.'s new board chairman, Richard Parsons, said financial institutions are being targeted for creating the nation's financial crisis, but they aren't the only ones responsible.
"Everybody participated in pumping up this balloon. Now the balloon has deflated," he said Monday. "Everybody, in reality, has some part of the blame. But it's much more in the culture to find a villain and vilify the villain."
Besides banks, there was reduced regulatory oversight, loans to unqualified borrowers were encouraged and people took out mortgages or home-equity loans they couldn't afford.
Reduced regulatory oversight...of banks and big financial institutions. Loans to unqualified borrowers made by... banks.... People took our mortgages and home-equity loans from they couldn't afford from...banks who abandoned underwriting requirements.
The rich assholes who run the world are babies.
Monsters
I've long been unsure about why the enablers - lawyers, doctors - have bothered me more than the leaders.
WASHINGTON — Medical personnel were deeply involved in the abusive interrogation of terrorist suspects held overseas by the Central Intelligence Agency, including torture, and their participation was a “gross breach of medical ethics,” a long-secret report by the International Committee of the Red Cross concluded.
Monday, April 06, 2009
The Stupids
When I was growing up what always pissed me off more than anything was when my sense of justice was violated. I'm not claiming that my sense of such things was perfect, and I imagine that such outrages often involved me personally, but nonetheless violations of my sense of justice always drove my crazy. Fortunately zero tolerance policies became commonplace about the time I left high school.
I don't know how anyone gets through adolescence these days.
When a Fairfax County mother got an urgent call from school last month reporting that her teenage daughter was caught popping a pill at lunchtime, she did not panic. "It was probably her birth-control pill," she thought. She was right.
Her heart dropped that afternoon in the assistant principal's office at Oakton High School when she and her daughter heard the mandatory punishment: A two-week suspension and recommendation for expulsion.
I don't know how anyone gets through adolescence these days.
This Is Excellent News For Republicans
I hope John McCain yells at clouds tells David Gregory what it all means soon.
Mr. Obama's overall approval rating, meanwhile, has hit a new high of 66 percent, up from 64 percent last month. His disapproval rating stands at 24 percent. Nearly all Democrats and most independents approve of the way the president is handling his job, while only 31 percent of Republicans approve.
Deep Thought
When my house gets foreclosed I'll probably be pretty happy if there's a reeducation camp I can go to.
Good Luck With That
I have nothing against newspapers trying to charge for online content, but... really, it isn't the way forward.
The Mall Is Flat
Funny. General Growth Properties issues statement which basically says, "We have no idea why anyone would buy our shitty stock."
NEW YORK (Reuters) - General Growth Properties IncGGP.N, which is struggling to avoid filing for Chapter 11 bankruptcy protection, on Monday said it could not explain why its stock was up 89 percent.
Misguided Legal Theories
Yeah, good luck with that.
Absurdly, most of the article is about Google which doesn't even have ads on its google news page* and which already has a deal with the AP.
*correction, they do have some ads when you search the news page now.
The Associated Press and its member newspapers will take legal action against Web sites that use their articles without legal permission, the group said on Monday, in a clear shot at aggregators like Google.
In a speech at The A.P.’s annual meeting in San Diego, William Dean Singleton, chairman of the group, said, “We can no longer stand by and watch others walk off with our work under misguided legal theories.”
Absurdly, most of the article is about Google which doesn't even have ads on its google news page* and which already has a deal with the AP.
*correction, they do have some ads when you search the news page now.
Not Dead Yet
Paul Samuelson, who spoke at my department graduation ceremony in 1993, is, in fact, not dead.
Trust Us, We Know What We're Doing
I think the main issue with beat sweeteners is that they're part of a whole host of journalistic practices which aren't especially pretty... and more than that, they're practices that the public is largely ignorant of. There's a lack of transparency in journalism which is often at odds with the great degree of self-righteousness regularly exhibited by some in the profession. You can't simultaenously be a superhuman devotee to truth telling and someone who writes stories deliberately to curry favor with sources. Such practices might at times be, on balance, good for the overall goal of providing information for readers (though frequently they're probably just good for the overall goal of personal career elevation), but they're also a reminder that journalism as practiced is not the pristine objective truth machine that some suggest when writing columns about how bloggers suck.
But You'd Have To Charge Them Even More!
CNN just did a mini-piece on the New York Times Co. threatening to shutter the Boston Globe. They had someone on saying that the problem was that newspapers long ago started distributing their content for free on the internets.
I imagine it's true the industry as a whole didn't spend enough time thinking about their online business model, but simply charging people for online access was never going to be the solution. Revenue from subscriptions and sales never paid the newspaper bills, advertising did. If people paid the equivalent of a print subscription for online access and didn't get a copy of the print edition, that would be a net loss for newspapers because online advertising revenue wouldn't make up for the lost print advertising revenue.
The point is that it's lost advertising revenue, not lost subscription revenue, that's the big problem.
I imagine it's true the industry as a whole didn't spend enough time thinking about their online business model, but simply charging people for online access was never going to be the solution. Revenue from subscriptions and sales never paid the newspaper bills, advertising did. If people paid the equivalent of a print subscription for online access and didn't get a copy of the print edition, that would be a net loss for newspapers because online advertising revenue wouldn't make up for the lost print advertising revenue.
The point is that it's lost advertising revenue, not lost subscription revenue, that's the big problem.
Meanwhile
Over there.
Remember, kids, all the very serious people supported this war. Little Petey Beinart is now a Senior Fellow with the Council on Foreign Relations!
Such wise counsel from the very wise council.
BAGHDAD -- A series of six car bombs exploded in or near Baghdad on Monday, killing more than 30 people and wounding scores more, according to witnesses and the police.
Remember, kids, all the very serious people supported this war. Little Petey Beinart is now a Senior Fellow with the Council on Foreign Relations!
Such wise counsel from the very wise council.
Just Like The Dixie Chicks
While our discourse is still very stupid, it is better than it used to be. Because I think people often forget just what it was which caused the Diane Sawyer-blessed months-long public flogging of the Dixie Chicks, I think it's useful to provide the occasional reminder.
As conservatives all over the place are calling for revolution, it's worth remembering what got our media all excited in early 2003.
Just so you know, we're ashamed the president of the United States is from Texas.
As conservatives all over the place are calling for revolution, it's worth remembering what got our media all excited in early 2003.
Sunday, April 05, 2009
Liquidity
It's frustrating that they keep clinging to the notion that this is largely a liquidity issue. I don't know if they believe it or if it just makes what they're doing sound better.
Mortgage Mods
Existing programs aren't really working as failure rates are going up. The only way to stem the foreclosure tide is to allow bankruptcy judges to modify loan terms, something the Bayh Dogs keep killing.
Have fun destroying your state, Evan! You have a few foreclosure problems there I see... Heckuva job!
Have fun destroying your state, Evan! You have a few foreclosure problems there I see... Heckuva job!
Sunday Bobbleheads
Document the atrocities.
BC's "This Week" — Susan Rice, the U.S. ambassador to the United Nations; Richard Haass, president of the Council on Foreign Relations.
___
CBS' "Face the Nation" — Treasury Secretary Timothy Geithner.
___
NBC's "Meet the Press" — Fritz Henderson, chief executive officer of General Motors Corp.; William Rodgers, chief economist at the John J. Heldrich Center for Workforce Development at Rutgers University.
___
CNN's "State of the Union" — Henderson; Sens. Bob Corker, R-Tenn., and Debbie Stabenow, D-Mich.; Jack Welch, former chief executive of General Electric Co.; David Axelrod, White House senior adviser.
"Fox News Sunday" _ Axelrod; Gov. Mark Sanford, R-S.C.; former House Speaker Newt Gingrich, R-Ga.; Rep. Debbie Wasserman Schultz, D-Fla.
My morning aggravation
I think if corporations want to pretend they have the rights of "persons", they should also have to face the death penalty when they kill people. At the very least, Pfizer is guilty of negligent homicide, aren't they? Can we put them in jail?
Signed,
Not Atrios
Signed,
Not Atrios
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