StickWithANose

De-constructing Libertarianism in one question… Naked Capitalism

How do libertarians propose to respond to the power of large enterprises?

Fiscal Austerity and Third World America… Baseline Scenario

The financial crisis may be behind us, but the link to the likely intense debate this fall regarding fiscal policy is direct — we are told that fiscal austerity requires outright and immediate further cuts in the benefits previously promised to people at the federal, state and local level.

Never mind that this is simply not true – at least in the form currently presented (here are a primer on short-term issues and another on the longer-term perspective). A vocal class of people –  including some at the upper end of the income distribution – incessantly insist that “entitlements must be cut” while refusing to address the real causes of both our recent surge in government debt (the financial crisis, caused by perverse incentives in the financial system) and the genuine longer-term issues we face (which are about controlling the future increase in health-care costs – not cutting the level of benefits today).

The self-described “fiscal conservatives” really cannot be taken seriously – in the financial reform debate, they either didn’t show up or preferred to keep the existing system in place, and they refuse to put serious health cost-control measures on the table…

[T]here is a striking similarity between the longstanding stated intention to “starve the beast” (meaning press for reduction in government by creating binding constraints, like a perceived crisis) and what we are seeing play out today.

Matt Taibbi examines the Tea Party… Rolling Stone

The Fox/Rush/Savage crowd in the last 18 months has taken the anti-Muslim fervor that launched a phony war in Iraq, carried George Bush to re-election, and pushed through the Patriot Act, and re-directed that anger at a domestic nonwhite enemy. In doing so they’ve achieved a perfect storm of political cross-purposes: they’ve almost completely succeeded in distracting the public from the real causes of their economic misfortune (i.e. Wall Street corruption), they’ve re-energized a Republican party that was devastated by eight years of Bush-era corruption and incompetence, and, as usual, they’ve made Rupert Murdoch a shitload of money.

Climate Change Turns 35… Real Climate

To those who even today claim that global warming is not predictable, the anniversary of Broecker’s paper is a reminder that global warming was actually predicted before it became evident in the global temperature records over a decade later (when Jim Hansen in 1988 famously stated that “global warming is here”).

A profile of two of the most active members of the Billionaire Boys Club: the Koch brothers… New Yorker

[T]he advocacy wing of the Americans for Prosperity Foundation—an organization that David Koch started, in 2004—held a different kind of gathering. Over the July 4th weekend, a summit called Texas Defending the American Dream took place in a chilly hotel ballroom in Austin. Though Koch freely promotes his philanthropic ventures, he did not attend the summit, and his name was not in evidence. And on this occasion the audience was roused not by a dance performance but by a series of speakers denouncing President Barack Obama. Peggy Venable, the organizer of the summit, warned that Administration officials “have a socialist vision for this country.”

Five hundred people attended the summit, which served, in part, as a training session for Tea Party activists in Texas. An advertisement cast the event as a populist uprising against vested corporate power. “Today, the voices of average Americans are being drowned out by lobbyists and special interests,” it said. “But you can do something about it.” The pitch made no mention of its corporate funders. The White House has expressed frustration that such sponsors have largely eluded public notice. David Axelrod, Obama’s senior adviser, said, “What they don’t say is that, in part, this is a grassroots citizens’ movement brought to you by a bunch of oil billionaires.”