Quote of the moment: President asks the Senate Majority Leader for help on the debt ceiling issue, in 1983

July 7, 2011

In a letter to the Majority Leader of the U.S. Senate, the President wrote:

This letter is to ask for your help and support, and that of your colleagues, in the passage of an increase in the limit on the public debt.

As [the Treasury Secretary] has told you, the Treasury’s cash balances have reached a dangerously low point.  Henceforth the Treasury Department cannot guarantee that the Federal Government will have sufficient cash on any one day to meet all of its mandated expenses, and thus the United States could be forced to default on its obligations for the first time in history.

This country now possesses the strongest credit in the world.  The full consequences of a default — or even the serious prospect of default — by the United States are impossible to predict and awesome to contemplate.  Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets.  The Nation can ill afford to allow such a result.  The risks, the costs, the disruptions, and the incalculable damage lead me to but one conclusion:  the Senate must pass this legislation before the Congress adjourns.

I want to thank you for your immediate attention to this urgent problem, and for your assistance in passing an extenstion of the debt ceiling.

Sincerely,

         Ronald Reagan

True then.  Still true now.

Letter from President Ronald Reagan to Senate Majority Leader Sen. Howard Baker, R-Tennessee, November 16, 1983.  The Treasury Secretary at the time was Donald Regan.

Tip of the old scrub brush to mainstream media pillar, The Washington Post, where a .pdf of the letter is available.


Hard truths about the U.S. economy

June 15, 2011

Robert Reich tells the truth.  Can you be bothered to listen?

Tip of the old scrub brush to MoveOn.org.  Is there any wonder why the would-be oligarchs work so hard to discredit MoveOn.org?


Immigration policy in an era of globalization: U.S. needs more immigration, not less

June 11, 2011

Anathema to many partisans of the immigration debates:   What if we look at the real value of immigration?  The U.S. needs more to encourage immigration than to discourage it.  God, and devil, in the details.

From the Dallas Federal Reserve Bank:

In advance of an immigration policy conference, Dallas Fed Senior Economist Pia Orrenius discusses how immigration policy can help the U.S. economy and how the global competition for high-skilled immigrants is increasing. The Dallas Fed and the John Goodwin Tower Center for Political Studies at Southern Methodist University are co-sponsoring “Immigration Policy in an Era of Globalization” at the Dallas Fed on May 19-20, 2011.

This piece had only 329 views when I posted it.  Shouldn’t carefully studied views of immigration get more circulation on the inter’tubes?

Do you recall seeing any coverage of the May 19-20 conference  in your local news outlets, or anywhere else?  The conference included high-faluting experts who discussed immigration policies for the U.S., Canada, the EU, Europe, Britain, Australia, Japan, South Korea, Italy, Switzerland, the Netherlands, Spain and Germany.  One might think to find some value in the information there.

Can we get the immigration we need, legally?  Do present proposals in Congress offer to boost our economy, or hurt it?

More:


LA Times on the Texas drought

May 29, 2011

Contrary to the Warming Contrarians (WCs), Texas is still in a drought — a bad one.

Vodpod videos no longer available.

LA Times on the Texas drought, posted with vodpod

Oddly, the great story on the Texas drought that showed up in the Dallas Morning News last week, does not show up on their website.  Because this is a climate change-related issue, I think we should track it.

Tip of the old scrub brush to Michael Tobis at Only In It For The Gold.


Businessweek’s great covers – “Don’t play chicken with the debt ceiling”

May 21, 2011

BusinessWeek cover, April 18-24, 2011 - Don't play chicken with debt ceiling

BusinessWeek cover, April 18-24, 2011 - Don't play chicken with debt ceiling; chicken image by Jan Hamus/Alamy

Not every one of the Bloomberg Businessweek covers has been a hit, but a lot of them are — vastly more entertaining since Bloomberg took over the old workhorse magazine.

This one packs a political punch along with visual excitement.

And it’s right.  Do any Republicans pay attention to the finance and business worlds anymore?

Articles inside are informative, too — see Peter Coy’s article, and  did you see the article on the debt ceiling issue and the views of past Treasury secretaries?

Hey!  Republicans!  Stop playing chicken with the nation’s credit, will you?

Graphic - dangerous game on debt ceiling -- Businessweek

Businessweek graphic from April 18-24, 2011 issue - click for larger view at Businessweek site; chicken image by Jan Hamus/Alamy


New in tattoos: The formula of Wall Street doom

May 11, 2011

Here’s one the prof won’t even care about — you can’t cheat with this one, and if you do, you get burned:

Tattoo of the formula that created the 2008 financial crisise, from Marketplace

Tattoo of the formula that created the 2008 financial crisise, from Marketplace.

Marketplace, the radio program, noted it, and described it:

The financial crisis in one handy tattoo: surely you remember the formula that caused the financial crisis. But you haven’t seen it like this, from a creative friend of Marketplace who works for advertising firm Wieden + Kennedy, based in Portland. He enlisted “the ever-brilliant designer James Tung, computational typeface author Donald Knuth, and the steady hand of Cheyenne at Atlas Tattoo, according to his Facebook post[.]

Earlier, Marketplace interviewed Felix Salmon, who wrote about the formula for Wired.

RYSSDAL: This guy, David Li, what was he trying to do?

SALMON: What David Li was trying to do was look at lots of different bonds and try and work out whether they were all moving in the same direction or not. Whether they were correlated or not. Whether they were independent of each other or not. And he created this astonishing piece of mathematics called the Gaussian copula function, which sought to answer that very question.

RYSSDAL: What does that mean — Gaussian copula? I mean, if I can just take a little sidebar here for a second.

SALMON: People get very scared when they hear the word Gaussian. But this is just one way of looking to see whether one set of probabilities is associated with another set of probabilities. The really key part of the Gaussian copula function is the copula bit. It’s what’s known as a multivariant copula. You can take lots of different bonds or stocks or any kind of securities you like, and you can throw them all into one big equation and out the end get a single number which is easily manipulable and trackable as they say in the world of quantitative finance.

If you mention “Gaussian copula functions” at a cocktail party, you might do well to avoid anyone who appears to know what you’re talking about . . .



Typewriter of the moment: Godrej & Boyce, the last manual ever made

April 30, 2011

Can this be correct?

The Daily Mail in London reports that the last manufacturer of manual typewriters in the world, Godrej & Boyce of India, is shutting down production.

Is this the last manual typewriter ever to be made?

Godrej and Boyce, Prima, the last manual typewriter manufactured in the world

The Prima, from Godrej & Boyce; in India, the last company making manual typewriters is closing down

According to the Daily Mail:

It’s an invention that revolutionised the way we work, becoming an essential piece of office equipment for the best part of a century.

But after years of sterling service, that bane for secretaries has reached the end of the line.

Godrej and Boyce – the last company left in the world that was still manufacturing typewriters – has shut down its production plant in Mumbai, India with just a few hundred machines left in stock.

Although typewriters became obsolete years ago in the west, they were still common in India  – until recently.  Demand for the machines has sunk in the last ten years as consumers switch to computers.

The company’s general manager, Milind Dukle, told India’s Business Standard newspaper: ‘We are not getting many orders now.

‘From the early 2000s onwards, computers started dominating. All the manufacturers of office typewriters stopped production, except us.

‘Till 2009, we used to produce 10,000 to 12,000 machines a year. But this might be the last chance for typewriter lovers. Now, our primary market is among the defence agencies, courts and government offices.’

The company is now down to its last  200 machines – the majority of which are Arabic language models.

The firm began production in the 1950s – when Prime Minister Jawaharlal Nehru described the typewriter as a symbol of India’s emerging independence and industrialisation. It was still selling 50,000 models annually in the early 1990s, but last year it sold less than 800 machines.

The first commercial typewriter was produced in the U.S. in 1867 and by the turn of the century had developed into the  standardised format – including a qwerty’ keyboard – that we know today.

Say it ain’t so, Mr. Christopher Latham Sholes!

Godrej & Boyce manufactures several different technology products in its conglomerate of factories — but the typewriter is already gone from their website’s listing of company products.

Electric typewriters will continue to roll off of foreign assembly lines, for companies like Swintec and Brother.

More, resources, etc.: 


Pure political smear from Walter Williams, or is there any factoid to back his claim?

April 30, 2011

Walter Williams wrote a column a dozen years ago in which he made some wild claims about Stanford population biologist Paul Ehrlich.

Stanford University Prof. Paul R. Ehrlich - L A Cicero image

What did he really say?  Stanford University Prof. Paul R. Ehrlich – L A Cicero image

Williams wrote:

Paul Ehrlich wrote The Population Bomb, widely read on college campuses during the late sixties.  Ehrlich predicted that there’d be a major food shortage in the U.S. and “in the 1970s . . . hundreds of millions of people are going to starve to death.”  He forecast that 65 million Americans would die of starvation between 1980 and 1989, and that by 1999 the U.S. population would have declined to 22.6 million.  Ehrlich’s predictions about England were worse:  “If I were a gambler, I would take even money that England will not exist in the year 2000.”

Walter Williams, More Liberty Means Less Government:  Our founders knew this well, Hoover Institution Press Publication No. 453, 1999, p. 134

Recently Williams revived that claim for another column, and the revived claim is all over conservative sites.

Steven Goddard, who appears to be making a living on screwing up references to the work of others, though had restricted most of his error to sciency issues like climate change denial, put up a post repeating Williams’ claim.

I imagined Ehrlich might have said something like that, but most likely in one of his “scenarios” like the three much different disaster scenarios he proposed in his 1968 book Population Bomb So I asked Goddard for a reference (pollution and economic scarcity, disease, and food shortages, were the three apocalyptic horsemen Ehrlich wrote about then).

It didn’t occur to me that the quote attributed to Ehrlich was wholly fictitious, but in more than a week of searching, neither Goddard nor Maurizio Moribito commenting at Goddard’s site can find anything even close to what Williams claimed.  I’ve pored through my old copy of Population Bomb, and it’s not there that I can find, not without a much more thorough reading I don’t have time for right now.  (My copy of Ehrlich’s Population, Resources and Environment is buried somewhere here in my bookshelves — that was the textbook Ehrlich wrote, a book used in a population and ecology course I took in the Biology Department at the University of Utah way back when.  It’s also a favorite book for conservatives to quote mine, wringing fantastic mischaracterizations from the early edition or a later one where Ehrlich and his wife were joined by John Holdren, now an adviser to President Obama.)

Dear Readers, help me out:  Did Ehrlich say anything like what Williams via Goddard claims he said, or did Williams pluck this smear from a some unlighted private library?  Was Williams just playing fast and loose with the truth (again)?

Did Ehrlich ever “predict” 65 million deaths from starvation in America in the 1980s?  Can anyone source the quote?

More, strings to follow:  

Even more stuff on the topic:


Two years, three months since the disaster . . .

April 24, 2011

Remembering, because we shouldn’t forget.  It was just two years and three months ago.  Rebuilding will take a long time.


Scary idea: Obama is now the greatest tax cutter in history

April 24, 2011

Why is that scary?  Because cutting taxes as a policy to fix our ills, doesn’t work.

Politicususa explains:

According to the Orange County Register, “For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it’s well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.”

The problem is that the tax cuts have not promoted economic growth and have caused the federal deficit to explode, “Those lower taxes have helped give the U.S. government the lowest revenues as a percentage of gross domestic product of seven industrialized countries surveyed in 2010 by the Congressional Research Services. (The other countries were Japan, Canada, the United Kingdom, Germany, Italy and France.) The U.S. also had the lowest spending as a percentage of the GDP. But with the biggest gap between revenues (31.6 percent of GDP) and expenditures (42.2 percent of GDP), the U.S. also posted the largest deficit as a percentage of GDP – 10.5 percent.”

No conservative would dare give Obama credit.  Is Obama a noble enough leader to decline ownership of the tax cutting title?


Only in small towns, where leaders have time to think . . .

April 7, 2011

Years ago when I staffed a U.S. senator’s office, one of my tasks was to look through all the weekly newspapers in the state.    Back then subscriptions were cheap, and most senators would take out a subscription to these weeklies more to flatter the editors and publishers than to read.  We put them to use, first checking to see whether the clipping services were getting all the clips (mostly), and then on a hunch, to see what issues were raging in the state, well below the radar of the big city daily newspapers and broadcast outlets.

You can learn a lot.

Many of those old weekly newspapers are gone, now, victims to local populations that turn over in every recession, and to electronic news gathering services — and to general alienation:  People are not so sure they want to know what their neighbors are up to, these days.  Heck, many people aren’t sure they want to know their neighbors.

My own electronic news gatherers occasionally pull out something to think about from a minor news outlet.  For example, below is an opinion piece out of the Carrboro Citizen from Dan Coleman, a member of the town council in Carrboro, North Carolina.  I gather from the paper it is rather close to Chapel Hill, the home of the University of North Carolina (I haven’t checked a map).

But look at what this guy says.  He questions the wisdom of Adam Smith.  Adam Smith! It appears Coleman wasn’t led astray by all those Adam Smith neckties that were so popular in the Reagan administration.  He questions the true need for profits from corporations, and he wonders if there isn’t a higher duty for a corporation.

How many others like Dan Coleman are there, out there in America, relatively sane on all other accounts, and thinking?

How many bottom lines do we really need?

April 7, 2011 | Posted in: Opinion | 0 Responses

By Dan Coleman

Did you know that Carrboro’s Town Code incorporates a principle devised by Shell Oil? That’s right, the same Shell Oil that has been accused of human rights violations in Nigeria, including summary execution, crimes against humanity, torture, inhumane treatment and ­collaborating in the execution of Nigerian activist Ken Saro-Wiwa. The same Shell Oil that has despoiled the Niger delta and was responsible for the largest freshwater oil spill ever.

With a record like this, it is little wonder that Shell came up with one of the corporate world’s more effective public relations concepts of recent years: the Triple Bottom Line (TBL), also known as People, Planet, Profit. It’s as if Shell was saying, sure you can criticize our environmental and humanitarian record but don’t forget, we have to make a profit.

Efforts to value people have dogged profiteering for over a century. The late 19th and early-to-mid-20th centuries were marked by many thousands of strikes by workers, more than 1,400 in the year 1886 alone. Many of these were met by violent strikebreakers backed up at times by military force. This is a struggle that continues in 2011 in Wisconsin and other states.

William Blake, Biography Online

William Blake

Through the efforts of these men and women, much of value was created: the weekend, workplace-safety standards, health care for workers, vacation and sick leave, etc. And each of these was wrested from the one bottom line that corporate America really cares about.

Despite William Blake offering the image of “dark satanic mills” as far back as 1804, the environmental impacts of industrial capitalism began to be understood with Rachel Carson’s 1962 publication of The Silent Spring. Within a decade, there was Earth Day, the Environmental Protection Agency, the Clean Water Act and much more, each a challenge to the profit-focused priorities of capital.

Given the pre-eminent importance of profit-maximization, it is not surprising that corporations touting the Triple Bottom Line often oppose measures to combat global warming, oppose workers’ rights and oppose regulatory mechanisms to protect the health of people and planet.

History has taught us that Adam Smith was wrong when he offered the justification for prioritizing profit that “by pursuing his own interest [the businessman] frequently promotes that of the society more effectually than when he really intends to promote it.” If Smith were correct, companies like Shell would not have such a devastating impact on society and nature. In part, this impact results from profit being measured in a short timeframe, a year or even a quarter of a year, while sustainability requires a vision spanning, as the Iroquois put it, as much as seven generations.

But Smith was right that profit ought to serve human well-being. Therefore, it must be understood within an ethical system that places people and planet first. This holds true for the vague term “stakeholder value” that some, including Carrboro, use instead of profit. Who are the stakeholders if not people and planet?
The TBL offers nothing to help us navigate the inevitable contradictions between profit on the one hand and people/planet on the other. But, really, why should we have any social or political bottom lines at all?

It was social ecologist Murray Bookchin who bemoaned the cultural turn to the “grubby language” of the market economy, which has “replaced our most hallowed moral and spiritual expressions. We now ‘invest’ in our children, marriages, and relationships. … We live in a world of ‘trade-offs’ and we ask for the ‘bottom line’ of any emotional ‘transaction.’”

There are a variety of frameworks that speak to a more fundamental commitment to the well-being of all life. In an 1854 speech, Chief Seattle offered the notion of a web of life: “Humankind has not woven the web of life. We are but one thread within it. Whatever we do to the web, we do to ourselves.”

Aldo Leopold, in Arizona

Aldo Leopold, in Arizona, Arizona State Parks image

A century after Chief Seattle, Aldo Leopold articulated his land ethic in Sand County Almanac, “A thing is right when it tends to preserve the integrity, stability and beauty of the biotic community. It is wrong when it tends otherwise.” The biotic community, of course, includes humans.

We need the ability to truly place people and planet first and to reject the false, self-serving homilies offered by those who spread pavement and poverty in pursuit of the almighty dollar. Rather than seek simplistic nostrums, we may have to take the time to look hard at each decision, and bring a clear ethical sensibility, like that of Seattle or Leopold, to bear.

Dan Coleman is a member of the Carrboro Board of Aldermen.

Coleman may want to check the provenance of the Chief Seattle quote — but the thought is solid.

What do you think?


Teachers standing up for teachers, unions, and education: EDUSolidarity

March 15, 2011

Teaching is a lonely profession, oddly enough.  All too often teachers get stuck on an island away from other adults, away from socializing with colleagues even just a few feet away in the next room.  Different from most other professions, teachers in most schools are required to function without basic support for much of what they do, or with minimal support.

Consequently, teachers organizing to support teachers is difficult and too rare.

Unions become vital organizations to fight against unhealthy social isolation, to fight for teachers, to fight for education.

On March 22 union teachers in New York will wear red as an expression of solidarity with and support for teachers under attack in Wisconsin, Tennessee, Texas, Ohio, Indiana, and dozens of other places that we don’t know much about because, after all, brutal legislative attacks on teachers and teaching are so commonplace these days — “dog bites man” stories.

I was asked to join a group of bloggers who will blog on the importance of teaching, the importance of education, and why we support teacher unions on March 22.

If you teach and blog, will you join us?  If you had a teacher who made a difference in your life, and blog, will you join us?

Here’s an invitation from our group, EDUSolidarity:

edusolidarityIMAGE

Please join us!

 

As we all know, teachers and our unions, along with those of other public sector employees, face unprecedented attacks in the national media and from local and state governments. It is easy for politicians and the media to demonize the “unions” and their public faces; it is far more difficult to demonize the millions of excellent teachers who are proud union members. Those of us who are excellent teachers and who stand in solidarity with our unions are probably no stranger to the question “Well, why are you involved with the union if you’re a good teacher?” It’s time for us to stand up and answer that question loudly and clearly.

On Tuesday, March 22, teachers in NYC will wear red in solidarity with our brothers and sisters who are under attack in Wisconsin, Ohio, Indiana, Tennessee and elsewhere. We also stand with teachers in places like Idaho, California, and Texas who are facing massive layoffs. We would like to take this stand on the web as well. We encourage you to publish a piece on March 22 entitled “Why Teachers Like Me Support Unions.” In this piece, please explain your own reasons for being a proud union member and/or supporter. Including personal stories can make this a very powerful piece. It would be great to also explain how being a union member supports and enables you to be the kind of teacher that you are. We want these posts to focus not only on our rights, but also on what it takes to be a great teacher for students, and how unions support that.

After you have published your post, please share it through the form that will go live on March 22 at http://www.edusolidarity.us. Posts should also be shared on Twitter using the tag #edusolidarity.

In Solidarity,
Ken Bernstein – Social Studies, MD – teacherken
Anthony Cody – Science Instructional Coach, CA – Living in Dialogue
Ed Darrell – Social Studies, TX – Millard Fillmore’s Bathtub
Nancy Flanagan – Educational Consultant, MI – Teacher in a Strange Land
Jonathan Halabi – Math, NY – JD2718
Jamie Josephson – Social Studies, DC – Dontworryteach
Stephen Lazar – Social Studies/English, NY – Outside the Cave
Deborah Meier – Professor of Education, NY – Deborah Meier’s Blog
Doug Noon – Elementary, AK – Borderland
Kate Nowak – Math, NY – f(t)
Jose Vilson – Math, NY – The Jose Vilson


7 Billion: Are you typical? Year-long Nat Geo special reports

March 13, 2011

7 Billion: Are you typical?

Vodpod videos no longer available.

7 Billion: Are you typical? Year-long Nat Geo s…, posted with vodpod

I could see a bell-ringer in there somewhere.  Who do you think ought to see this thing?  What classes in public schools should see it, for what purpose?

I hope the year-long series lives up to the video.  I hope there are a lot more videos to go along with it.  As a piece of persuasive rhetoric, it does make a decent case for subscribing to National Geographic for a year.  How’s that for rhetorical criticism?


The 12 States of America from The Atlantic: Income inequality marks majority of America

March 10, 2011

Graphics story in The Atlantic this month — “The 12 States of America.”

Looking at my print copy I was struck that most of the “states” listed — really communities of people — have lost economic ground in the past decade.  Average per capita incomes dropped for most groups.

Since 1980, income inequality has fractured the nation. Click each icon to see each of the dozen states, which counties belong to them and how median income has changed over the last 30 years.

The old income inequality monster rearing its ugly, ugly head again.  America is losing ground.  No wonder the Republicans are discouraged — but why don’t they understand that its their policies that create the trouble?

This is a good version, but you’d do well to go check out a larger version at The Atlantic site, and read the short article by Dante Chinni and James Gimpel.

Vodpod videos no longer available.

The 12 States of America – The Atlantic, posted with vodpod

Click on any descriptor, and it will show which counties in America match that description.

Hmmm. In the headline, should that be “scars” instead of “marks?”


Legacy of deficits: Seen any good updates on these charts?

March 8, 2011

Going into discussions about the Republican-proposed America in Retreat Budget Act, I wonder about updates on facts and visuals.

Back in 2009, we had these informative charts, below — are there good updates on them, now?

How Trillion Dollar Deficits Were Created:

Graphic from the New York Times, June 10, 2006 accompanying an article by David Leonhardt

George W. Bush’s Legacy in a Pie Chart:

Sources of our Federal Deficits, 2009 - Matthew Yglesias, ThinkProgress

Sources of our Federal Deficits, 2009 – Matthew Yglesias, ThinkProgress

Got updates?