I meant to highlight this before, but I happened to catch 10 minutes of This Week with Christiane Amanpour before heading out the door this past Sunday, and I was impressed enough to watch the episode online later.
My initial concerns that fringe figures like Robert Spencer might gain legitimacy were quickly assuaged by the display of reason and intellect by Amanpour and her guests. It was actually rather startling to see something like that on an American political show.
It's almost as though Amanpour is just vastly smarter than the likes of Chris Matthews and David Gregory. Now, if only she could find a way to keep George Will off the roundtable. Then she'd be golden.
Thursday, October 07, 2010
Paris Going Big With Car Sharing
It really is the perfect solution to the problem of too many cars. Lots of people need or have a strong want for cars occasionally, and an inexpensive and convenient (it's certainly convenient for me, click click on the internet and then walk a block and a half to my car) way of obtaining that occasional car is perfect for urban dwellers who don't use it for the commute. And once you don't own a car, you're going to drive much less, as most of the cost of car ownership is perceived as fixed with relatively low marginal cost of driving an additional mile or hour. Car sharing takes away most of the fixed cost but increases the marginal cost.
Loud Obbs
I remember how enraged Dobbs would get at the notion that undocumented immigrants might actually...get a bank account... as if that was some serious threat to...I have no idea what.
Good Policy
As I've said many times, instead of worrying about how to accommodate cars, dense cities need to figure out how to reduce them. I get that there's a limit to the various "stick" approaches, and cars need to be accommodated to some degree, but if you aren't willing to do things like jack up the price of parking permits, then you should find ways to reward people who don't use them.
...and, adding, this isn't about me hating cars. Frankly none of this stuff impacts me directly. I don't sit in traffic jams. I don't ever need to find a parking spot.
...and, adding, this isn't about me hating cars. Frankly none of this stuff impacts me directly. I don't sit in traffic jams. I don't ever need to find a parking spot.
Transit Nerdery
As Krugman says, even if roads did pay for themselves through gas and other fees (they don't, not even close), there's still a basic economic argument for subsidizing mass transit, because it ameliorates congestion. From an economic standpoint, there's "too much" congestion because congestion is an externality. You can reduce it by adding a toll, or by making an alternative route more attractive by subsidizing it.
Oh Well
Christie to kill tunnel, and apparently claim that he gets to keep the federal dollars anyway.
This project was about the one thing which gave me some confidence in the idea that this country could actually do anything.
This project was about the one thing which gave me some confidence in the idea that this country could actually do anything.
Veto
I still haven't figured out if this is a big deal or not, but Jake the Tapper tells me on the twitter that Obama's going to nuke it.
But Newt's A Really Bright Guy Whose Ideas Should Be Listened To
One can never quite figure out the "stupid or lying" question, but...
Way Out
While it doesn't address the specific legal issues surrounding the foreclosure mess, you could reduce the foreclosure mess by... reducing foreclosures... and you could do so in a fair way which hits both lender investor and borrower by allowing bankruptcy judges to deal with all of this. Won't help the servicers, but they're just predators at this point.
It was a good idea four years ago. If it was implemented the magnitude of this mess would have been greatly diminished. It's still a good idea now.
I might be wrong, but I truly believe that one little change in law would have improved the universe in immense ways, and I don't just mean because it would have helped troubled homeowners. It would have helped most stakeholders.
It was a good idea four years ago. If it was implemented the magnitude of this mess would have been greatly diminished. It's still a good idea now.
I might be wrong, but I truly believe that one little change in law would have improved the universe in immense ways, and I don't just mean because it would have helped troubled homeowners. It would have helped most stakeholders.
Walkability
It's less of (though still) an issue for dudes, but for women especially adjusting to a lifestyle in which walking a couple of miles per day in "work shoes" is normal requires some modifications of the shoe collection.
Things I Still Don't Understand
We have a revenue collection system in place which fairly closely approximates a "per mile" fee. To the extent that it deviates from a per mile fee it deviates in good ways. It rewards smaller vehicles that do less damage to roads. It rewards cars with better gas mileage which do less damage to the environment. There is no need to add on an additional administration and collection system. If you want to raise the gas tax, just raise the goddamn gas tax.
A major increase in the federal gas tax, which has remained unchanged since it was bumped to 18.4 cents per gallon in 1993, might be the most politically palatable way to boost revenue in the short term, the report said, but over the long run, Americans should expect to pay for each mile they drive.
"A fee of just one penny per mile would equal the revenue currently collected by the fuel tax; a fee of two cents per mile would generate the revenue necessary to support an appropriate level of investment over the long term," the report said.
Um..
Medicare eligibility age is 65?
...oh, duh, I get it. Haven't had coffee yet. He means that a giant deductible will be phased in so people who are 55 now will pay it later.
...oh, duh, I get it. Haven't had coffee yet. He means that a giant deductible will be phased in so people who are 55 now will pay it later.
Thursday Is New Jobless Day
Still high.
Jobs report comes out tomorrow.
Initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 445,000, the lowest since the July 10 week, the Labor Department said.
Analysts polled by Reuters had forecast claims edging up to 455,000 from the previously reported 453,000. The government revised the prior week's figure up to 456,000.
Jobs report comes out tomorrow.
Morning and Shit
Remarkable how fast this piece of legislation cleared both houses and is now awaiting President Obama's signature.
The bill, passed without public debate in a way that even surprised its main sponsor, Republican Representative Robert Aderholt, requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.
h/t ChiDyke
The bill, passed without public debate in a way that even surprised its main sponsor, Republican Representative Robert Aderholt, requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.
h/t ChiDyke
Wednesday, October 06, 2010
Scale
I always appreciate elegant visual displays of quantitative information, and I adore Information Is Beautiful.
This particular visualization is always relevant.
This particular visualization is always relevant.
Wednesday Night
My local sports franchise bested somebody else's local sports franchise in a manner which was apparently quite impressive.
Wednesday Evening
I think it's Wednesday anyway. My local sports franchise is currently winning their post-season sporting competition.
BFD
Ohio AG going after the banksters.
...Congressman Grayson statement on bankster actions in Florida:
...Congressman Grayson statement on bankster actions in Florida:
"First we see systemic fraud in the foreclosure process. Now we're literally seeing banks breaking into people’s homes and terrifying homeowners. The big banks claim these confrontations are a result of innocent errors. Come on! How many times are we going to force a woman to cower in her bathroom for fifteen minutes and dial 911 while a man breaks into a home, before we do something about it?
Breaking and entering does not become legal just because a big bank does it. The rule of law must apply equally to everyone. It's long past time to halt this blatantly illegal activity. We need investigation and law enforcement, not coddling of failed institutions. We need justice for all."
Happy Hour Thread
My local sports franchise is participating in a post-season sporting competition. I've been informed that this is a good thing.
SUPERBUS
As much as I love the SUPERTRAIN, Amtrak is a wee bit pricey, especially if I fail to get 14-day advance tickets. There is a lot of competition between bus carriers, and last time I went to DC it was $20 roundtrip which is pretty cheap for a 140 mile (each way) trip.
Amtrak is significantly faster, specially between Philadelphia and DC, and much more comfortable, but the bus is ok.
Amtrak is significantly faster, specially between Philadelphia and DC, and much more comfortable, but the bus is ok.
The Yankees And The Cowboys Always Win
I actually thought "rooting for the underdog" was one of those American-y traits.
...adding, I wasn't thinking that it's somehow more American to root for the underdog or that Americans always do so, just that I thought supporting the underdog was part of our self-conception, one of the myths we tell about ourselves, whether or not it's true.
Transportation
One Big Giant Mess
North Carolina AG wants foreclosures to be stopped.
Some of us dirty hippies suggested that allowing bankruptcy judges to deal with primary residential mortgages the way they can deal with vacation home mortgages might have solved a lot of problems. But we're hippies and wrong about everything.
Some of us dirty hippies suggested that allowing bankruptcy judges to deal with primary residential mortgages the way they can deal with vacation home mortgages might have solved a lot of problems. But we're hippies and wrong about everything.
The Death Of Journalism
I know it's still fashionable to blame bloggers and the interwebs for all of the woes of the newspaper industry, but as with many things, perhaps the incompetent lunatics running things should get a bit more blame.
Elections Have Consequences
I know mass transit's like some invisible other world for people who don't use it, but the fact is a lot of people use it. 24 trains per hour run through the existing tunnel, and a second tunnel would double that capacity. And Christie is going to kill it.
QE
Like Krugman I'm skeptical of the effectiveness of Fed action. They should still try, of course, but what we really need is the very serious people in the Senate to realize that they're destroying the economy.
Tuesday, October 05, 2010
Results
Good on them, I'm glad to see this. Politico (no link) must have written their "Obama follows Carter" story 2 years ago, and have just been waiting to fill in the date. I don't know how much this is a result of the 350.org project, but they should get credit for pushing the issue.
Appropriately, today is also the deadline for Photovoltaic Manufacturing Initiative applications, which is a pretty big deal. Steven Chu is on the ball, and he has people listening to him in the West Wing, which is good.
Appropriately, today is also the deadline for Photovoltaic Manufacturing Initiative applications, which is a pretty big deal. Steven Chu is on the ball, and he has people listening to him in the West Wing, which is good.
Lame Duck Heaven
I think they're nuts, but what do I know.
The Choice
I'm not in the mood to litigate "when did the public option truly die" question, but as the issue is buzzing around it's useful to remind ourselves what the basic choice was:
1) Legislation which slowly moved us to a regulated for-profit utility model of private insurers which would be less abusive than our current system.
2) Legislation which slowly phased out the for-profit model, at least for some base coverage, and to some sort of public insurance system.
We got 1), and while I'm mildly optimistic it will improve things, I'm also depressed that we preserved the absolutely useless role of insurance company skimmers who, it must be said, contribute absolutely nothing of value at a heavy price.
1) Legislation which slowly moved us to a regulated for-profit utility model of private insurers which would be less abusive than our current system.
2) Legislation which slowly phased out the for-profit model, at least for some base coverage, and to some sort of public insurance system.
We got 1), and while I'm mildly optimistic it will improve things, I'm also depressed that we preserved the absolutely useless role of insurance company skimmers who, it must be said, contribute absolutely nothing of value at a heavy price.
The 17ers
I usually get how the Glenn Beck word stew gets translated into semi-coherent Tea Party ideas, mostly about repealing constitutional amendments, but I admit I've never quite understand where the 17ers come from.
They Don't Do What It Is Their Statutory Obligation To Do
Time for Congress to overhaul the Fed, another failed elite institution unconcerned with its legal and moral obligations.
Banksters Just Stealing Now
So awesome.
Their laptop computer and MP3 player were missing, as were six bottles of wine. A half-empty beer opened by the intruders was still cold and sitting on the kitchen counter.
But why, then, had the locks on the front door been changed?
It turns out that a Sarasota company working for a lender trying to retake the property through foreclosure sent two men to the Punta Gorda home to break in and change the locks, even though the home was obviously occupied.
It is illegal for any bank representative to enter a property if they have not yet retaken it at a foreclosure sale, especially if there is any sign the home is occupied, foreclosure experts say.
Hard Work
Obviously self-funding candidates have had some success over the years, but it is true that campaigning is hard work, and that fundraising is a part of campaigning which provides a way for you to meet voters, get media coverage, and have supporters who are invested in your success. Skipping the fundraising part gives you an advantage in one way, but also lets you be a lazy campaigner.
And no Donald Trump is not going to run for president.
And no Donald Trump is not going to run for president.
Administrative Duplication
Aside from the whole "maybe you shouldn't let peoples' homes burn down" things, the proliferation of separate special fees and taxes is a tremendous waste. It requires additional administration and collection staff.
Moderates
Mike Lux makes a point that many of us have been trying to make for years, which is that a "moderate" in Washington, policywise, has little relation to "moderate voters." I think moderate voters are sometimes swayed by the rhetoric of self-identified moderates, because as self-identified moderate voters the concept appeals to them, but the policy spectrum in voter-world is not the same as the policy spectrum in the Village.
Bad Or Very Bad
Was listening in on this conference, which just had a panel with Krgthulu, Martin Feldstein, and Goldman economist Jan Hatzius. Hatzius's sophisticated analysis is that things are either going to be bad or very bad. Both bad and very bad involve rising unemployment.
WHEEEEEEEEEEEEEEEEEEEEEEEEEEE
WHEEEEEEEEEEEEEEEEEEEEEEEEEEE
Need More Stimulus
I also agree that any 'traditional' monetary policy is unlikely to have much impact. Having said that, if there's the possibility of any help the Fed should be doing more, and the fact that they haven't tried is scary, but I still don't think that all we need to do as have Bernanke flip the switch and everything will be great.
Absent running the printing presses and dropping money from helicopters, we need infrastructure spending. This is spending we need anyway, and spending we can do very cheaply at the moment given the absurdly low interest rates.
Absent running the printing presses and dropping money from helicopters, we need infrastructure spending. This is spending we need anyway, and spending we can do very cheaply at the moment given the absurdly low interest rates.
One Way We've Become More Stupid
PG-13 was originally intended to be a kind of "Hard PG" rating, but what happened was that PG-13 just became the new PG, PG became a kiddy movie rating and G became limited to animated movies where everybody is happy and sings.
One Missed Payment
Something that I don't think is appreciated well enough is that when it comes to paying a mortgage, for many people if they miss one payment that's it. Without some sort of forbearance by the bank they are unlikely to have sufficient income to make up that missed payment. Especially at the crazy prices people were paying, people don't have sufficient income to cover two mortgage payments in a particular month. And nobody has liquid savings.
Monday, October 04, 2010
Eventually It Becomes Two Lanes
Actually heard a bit of sense from a 'woman on the street' interview about possibly tolling 422, a highway in the Western burbs of the urban hellhole which at one end connects up with the Schuylkill Expressway, the only urban highway entering the city from that direction. And, as she said, even if they widen 422 (a possible use of toll money), it won't matter all that much because the Schuylkill is basically 2 lanes in each direction and there isn't a practical way to widen it even if billions were available.
There's significant travel along that road which is intra-suburban, and not about connecting up to drive into the city, but my main point is that there will not be any highway improvements into Philadelphia basically ever again.
There's significant travel along that road which is intra-suburban, and not about connecting up to drive into the city, but my main point is that there will not be any highway improvements into Philadelphia basically ever again.
It's Just A Big Casino, A Big Mall, A Big Hotel, And Some Condos
I was curious enough about the Las Vegas CityCenter project when I was last there, so I stopped in to check it out. I agree with this writer that it's neither a city nor a center (discuss) and that it really isn't any different from the other big Vegas developments. As for the condos, I suppose rich people who like to go to Vegas a lot might buy them for their weekend trips, but the complex isn't really anywhere normal people would want to live. There really aren't residential and neighborhood amenities.
Of Course Such Elections Do Matter
And I wasn't trying to suggest otherwise. Across the river, the governor is trying to hijack authority of transportation projects, probably sabotaging the Hudson River Tunnel project. That would really be a shame.
Go Team D
Apparently there's a governor's race going on in my state. I admit I might be a bad person for not paying attention, but generally it's difficult get much more information about statewide races than "this guy is probably better than the other guy" and most of that is already summed up by the letter next to their name. And with redistricting coming having Team D in charge is even more important.
All Those Corrupt Poor People
They're in Las Vegas! They must be gambling away their welfare money! Or partying it up in exotic Hawaii!
Better reporters, please.
Better reporters, please.
But They Should
Paul Waldman:
Stem cell research is "controversial," while in-vitro fertilization is not. This is rarely mentioned.
And today, virtually no one debates the ethics of in-vitro fertilization.
Stem cell research is "controversial," while in-vitro fertilization is not. This is rarely mentioned.
If I Ran The Zoo
Every time I visit congressional offices I'm reminded that if I could make one rule which would improve our politics immensely it would be to forbid cable news from being turned on in the offices. It's everywhere, all the time.
Also, Sasquatch
The bond vigilantes are coming on strong.
As Ezra says, smart policymakers would see low interest rates as a tremendous opportunity to borrow cheaply and build the kinds of things that only government can build.
Instead we have the catfood commission.
As Ezra says, smart policymakers would see low interest rates as a tremendous opportunity to borrow cheaply and build the kinds of things that only government can build.
Instead we have the catfood commission.
Consumption Demand
Attempts to stimulate the economy by encouraging investment demand through tax cuts and low borrowing costs are going to fail when companies have excess capacity and nobody has any money to buy their crap.
Sunday, October 03, 2010
Our media, not theirs
Culture of Truth and CS Kendrick are the guests tonight on Virtually Speaking Sundays at 5:00 PM Pacific, 8:00 PM Eastern. You can listen live here, or stream it later, or grab the podcast when it's posted.
Signed,
Not Atrios
Signed,
Not Atrios
Cars Are The Enemy Of The City
And no they're not going away, and yes there's a limit to what cities should do to discourage them. But making it easier for carsharing companies is really about the best thing cities can do to help reduce the number of cars residents have. It's all carrot, no stick, and makes it possible for people who need a car occasionally to go car free.
I'm not sure how long I would have made it without a car if not for car sharing. Cars are useful things and occasionally you need one. I'm not a fan of borrowing friends' cars, and fewer and fewer of my friends actually have them anyway.
I'm not sure how long I would have made it without a car if not for car sharing. Cars are useful things and occasionally you need one. I'm not a fan of borrowing friends' cars, and fewer and fewer of my friends actually have them anyway.
This Column Has Been Written Before And Will Be Written Again
The lazy but very typical pundit column is the one that desires a third party to appear out of nowhere, have massive popular support, and magically implement the agenda that the pundit wants.
It's so dumb.
It's so dumb.
Folly
Nice and and simple from the NYT:
The issue no one in power came to terms with is the fact that our financial intermediation system is utterly broke and has proven itself to unable to allocate capital the way that it is supposed to. Putting it even more simply, the banksters fucking suck.
The robo-signing scandal is yet another reminder that it is folly to rely on banks that got us into this mess to get us out.
The issue no one in power came to terms with is the fact that our financial intermediation system is utterly broke and has proven itself to unable to allocate capital the way that it is supposed to. Putting it even more simply, the banksters fucking suck.
Sunday Bobbleheads
This Week has a bunch of people talking about the most important national issue facing America: the Park51 project.
Meet the Press has golf.
Face the Nation strangely has Bill Richardson, Ed Rendell, and Bernie Sanders.
Document the atrocities!
Meet the Press has golf.
Face the Nation strangely has Bill Richardson, Ed Rendell, and Bernie Sanders.
Document the atrocities!
Lazy thread
I just can't be arsed this morning.
Oh, all right, have another nutbar from the "grown-up" party. But please don't pretend it's an excuse to let Democrats off the hook
Signed,
Not Atrios
Oh, all right, have another nutbar from the "grown-up" party. But please don't pretend it's an excuse to let Democrats off the hook
Signed,
Not Atrios
Saturday, October 02, 2010
Blighted Titles
The banksters keep on giving.
It's endangering the legal and economic stability of this state. And it's exposing an appalling lack of leadership, first for allowing such a breakdown in the legal system and, now, for failing to own up to this mess and get it fixed.
How bad is it? Laws governing who actually owns a foreclosed home are becoming so suspect a new buzzword is emerging: blighted titles. Even the tepid rebound of Florida's economy may face crippling delays in resolving hundreds of thousands of foreclosures in the Sunshine State.
...
Even the credibility of the state's court system could be questioned. Pressured by legislators (who control the court system's budget) to clear Florida's huge foreclosure backlog, many judges employ what derisively are known as "rocket" dockets. They speed foreclosures by minimizing legal arguments. But in the name of expediency, they bend the rules governing individual property rights.
Crazy Conspiracy Theories
I hate articles like this which dutifully ignore the fact that we went to war in Iraq, in part, because of assholes like Jeffrey Goldberg who peddled conspiracy theories about 9/11.
Crazy conspiracy theories in our own country have caused hundreds of thousands of deaths.
Crazy conspiracy theories in our own country have caused hundreds of thousands of deaths.
All Just Players At The Casino
I don't pay as much attention to the world of CNBC and satellites as much as I used to, but I'm still struck by how much people in that world actually believe "investors" know things.
Friday, October 01, 2010
Exercise And Diet
In my personal experience, both exercise and diet are good for weight loss, but I think people tend to underestimate the amount of exercise necessary to really contribute significantly to weight loss. More than that, people who aren't in great shape aren't in good enough shape to exercise enough for it to really make much difference. Jogging 3 miles a few times a week will help get you in shape in the sense of making jogging 3 miles easier, and eventually being able to go faster and farther, but it doesn't increase calorie burn by all that much until you start increasing the miles/speed/frequency by a bit. Then eventually you get in good enough shape to increase your base metabolism, which persists for a bit even if you go through a lazy stage.
Importantly, of course, is aside from being hard (especially when you first start), that kind of exercise is very time consuming. Also recognize this analysis is for relatively young relatively healthy people without any mobility impediments.
Importantly, of course, is aside from being hard (especially when you first start), that kind of exercise is very time consuming. Also recognize this analysis is for relatively young relatively healthy people without any mobility impediments.
A Depressing Read
This interview with Summers is fairly depressing. He's like the embodiment of "nobody could have predicted," and speaks as if his thoughts at any point in time, though wrong, were Universal Truths at their moment. And this is just wrong.
I mean, "many" is a copout and could be referring to random zombie unicorns, but right now the economy is doing worse than the administration projected when Obama came into office even if there had been no stimulus. I don't fault them for failing to have a perfect crystal ball, I fault them for not having a serious plan 'B' and for embracing austerity rhetoric long before things had turned around (which they still haven't.)
Also, catfood commission.
Summers: If you look at where the economy is relative to what many expected and feared on the day the president took office, it is considerably stronger, with the gathering force of depression we had at that time having been contained.
I mean, "many" is a copout and could be referring to random zombie unicorns, but right now the economy is doing worse than the administration projected when Obama came into office even if there had been no stimulus. I don't fault them for failing to have a perfect crystal ball, I fault them for not having a serious plan 'B' and for embracing austerity rhetoric long before things had turned around (which they still haven't.)
Also, catfood commission.
They Make Promises
LaHood:
Having a Jerry Maguire flashback.
In less time than it took to plan and pave our vast system of inter-connected highways, you will see high-speed trains carry significant numbers of Americans within and between regions.
Having a Jerry Maguire flashback.
Pretty Pictures
Can't tell if this is completely true with simple observation, but what both the fairly dense and less dense places seem to have in common is their isolation from any retail.
I get why people like the less dense places. Some people like a bit of land and a bit of isolation. It's the quite dense but with no benefits of density places which confuse me.
I get why people like the less dense places. Some people like a bit of land and a bit of isolation. It's the quite dense but with no benefits of density places which confuse me.
Punk'd
After all this time, journalists are still covering for the fact that they let O'Keefe punk them the first time.
Deficiencies
All just mistakes and technicalities.
A top federal bank regulator said Thursday that he has directed seven of the nation's largest lenders to review their foreclosure processes after learning about the widespread mishandling of homeowner evictions by the industry.
John Walsh, acting director of the Office of the Comptroller of the Currency, told lawmakers during a hearing on the financial regulatory overhaul enacted this summer that some lenders "clearly had deficiencies" in their system for foreclosures.
Bust Heads
I have no idea what Rahm does or doesn't know about urban policy, but I think the press tends to see the chief qualification of a local chief executive as being somebody who can go in there and bust the right heads and diminish the power of entrenched interests. As a resident of my particular urban hellhole I won't say there's nothing to this particular qualification, as there are in fact a lot of entrenched interests who are a drain on things, but it isn't the only qualification.
Slowing Down The Foreclosure Mills
Then how about starting to arrest people.
Evictions are expected to slow sharply, housing analysts said, as state and national law enforcement officials shine a light on questionable foreclosure methods revealed by two of the country’s biggest home lenders in the last two weeks.
Even lenders with no known problems are expected to approach defaulting homeowners more cautiously and look more aggressively for resolutions short of outright eviction.
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