Jul. 30th, 2011
LJ Friend: “Where's the panic?”
Jul. 30th, 2011 10:29 amMoi: “It's manifesting in the global financial markets, that's for sure. As for the American People, I suspect most don't believe DC would allow a Default, that all this is 'political theater', though I think now it's starting to dawn upon many that the Baggers ARE crazy enough to force this.
I like to think that such will get them murdered at the polls next year, but the American Electorate can be pretty fucking stupid.”
I like to think that such will get them murdered at the polls next year, but the American Electorate can be pretty fucking stupid.”
Truth Out Debt Theater Up Date
Jul. 30th, 2011 11:47 amSenate Quickly Kills Boehner Debt Bill
http://www.truth-out.org/senate-quickly-kills-boehner-debt-bill/1312030751
Carl Hulse and Robert Pear, The New York Times News Service: "After a 24-hour delay and concessions to conservatives, the House on Friday narrowly approved a Republican fiscal plan that the Senate quickly rejected in a standoff over the federal debt ceiling that was keeping the government on a path to potential default. Despite a day of frenzied legislative maneuvering... the two parties made no visible progress in finding common ground, leaving Washington, Wall Street and much of the nation watching the clock toward a deadline of midnight Tuesday."
Mainstream Reporters: Too Close to the Field and Teams to Get the Debt Story
http://www.truth-out.org/mainstream-reporters-too-close-field-and-teams-get-debt-story/1312033901
Jeff Cohen, Truthout: "If you were a spectator in a sky box seat looking directly down on the Washington debt debate, you’d be seeing a contest both narrow and off to one edge of the field - like watching a football game being played entirely between the 10-yard line and the goal line. The big items that added trillions to the debt are not even on the field of debate. Because the two teams are not contesting them."
World Reacts to Debt Ceiling Debacle: "Irresponsible," "Worst Kind of Absurd Theatrics"
http://www.truth-out.org/world-reacts-debt-ceiling-debacle-irresponsible-worst-kind-absurd-theatrics/1312035874
Ken Sofer, ThinkProgress: "From France and Germany to China and India, countries around the world are angry that American politicians play with the possibility of a U.S. default like a yo-yo with little regard for the international economic system that depends on American solvency... Even if Congress manages to forge a deal against the wishes of the Tea Party and deliver a bill to President Obama's desk raising the debt ceiling before default, the damage to our international standing has already been done."
Economists: Now is Wrong Time for Congress to Cut Spending
http://www.truth-out.org/economists-now-wrong-time-congress-cut-spending/1312039103
Kevin G. Hall, McClatchy Newspapers: "Despite the weak growth, politicians aren't arguing about stimulating the economy; rather they're debating how quickly and how much to cut spending, thus shaving economic growth in the process... The U.S. economy grew at an anemic 1.3 percent rate from April to June, the Commerce Department reported Friday. It also revised downward the growth rate over the first three months of 2011 to just 0.4 percent."
Large Mortgage Service Filed False Documents in Foreclosure Bid
http://www.truth-out.org/large-mortgage-service-filed-false-documents-foreclosure-bid/1312042309
Paul Kiel, ProPublica: "GMAC, one of the nation's largest mortgage servicers... wanted to foreclose on a New York City homeowner but lacked the crucial paperwork needed to seize the property... Three months later, GMAC had an answer. Itfiled a document with New York City authorities that said the delinquent Ameriquest loan had been assigned to it 'effective of' August 2005. The documentwas dated July 7, 2010, three years after Ameriquest had ceased to exist... In New York, it's a felony to file a public record with 'intent to deceive.'"
http://www.truth-out.org/senate-quickly-kills-boehner-debt-bill/1312030751
Carl Hulse and Robert Pear, The New York Times News Service: "After a 24-hour delay and concessions to conservatives, the House on Friday narrowly approved a Republican fiscal plan that the Senate quickly rejected in a standoff over the federal debt ceiling that was keeping the government on a path to potential default. Despite a day of frenzied legislative maneuvering... the two parties made no visible progress in finding common ground, leaving Washington, Wall Street and much of the nation watching the clock toward a deadline of midnight Tuesday."
Mainstream Reporters: Too Close to the Field and Teams to Get the Debt Story
http://www.truth-out.org/mainstream-reporters-too-close-field-and-teams-get-debt-story/1312033901
Jeff Cohen, Truthout: "If you were a spectator in a sky box seat looking directly down on the Washington debt debate, you’d be seeing a contest both narrow and off to one edge of the field - like watching a football game being played entirely between the 10-yard line and the goal line. The big items that added trillions to the debt are not even on the field of debate. Because the two teams are not contesting them."
World Reacts to Debt Ceiling Debacle: "Irresponsible," "Worst Kind of Absurd Theatrics"
http://www.truth-out.org/world-reacts-debt-ceiling-debacle-irresponsible-worst-kind-absurd-theatrics/1312035874
Ken Sofer, ThinkProgress: "From France and Germany to China and India, countries around the world are angry that American politicians play with the possibility of a U.S. default like a yo-yo with little regard for the international economic system that depends on American solvency... Even if Congress manages to forge a deal against the wishes of the Tea Party and deliver a bill to President Obama's desk raising the debt ceiling before default, the damage to our international standing has already been done."
Economists: Now is Wrong Time for Congress to Cut Spending
http://www.truth-out.org/economists-now-wrong-time-congress-cut-spending/1312039103
Kevin G. Hall, McClatchy Newspapers: "Despite the weak growth, politicians aren't arguing about stimulating the economy; rather they're debating how quickly and how much to cut spending, thus shaving economic growth in the process... The U.S. economy grew at an anemic 1.3 percent rate from April to June, the Commerce Department reported Friday. It also revised downward the growth rate over the first three months of 2011 to just 0.4 percent."
Large Mortgage Service Filed False Documents in Foreclosure Bid
http://www.truth-out.org/large-mortgage-service-filed-false-documents-foreclosure-bid/1312042309
Paul Kiel, ProPublica: "GMAC, one of the nation's largest mortgage servicers... wanted to foreclose on a New York City homeowner but lacked the crucial paperwork needed to seize the property... Three months later, GMAC had an answer. Itfiled a document with New York City authorities that said the delinquent Ameriquest loan had been assigned to it 'effective of' August 2005. The documentwas dated July 7, 2010, three years after Ameriquest had ceased to exist... In New York, it's a felony to file a public record with 'intent to deceive.'"
~We've already gotten our gubmint money for the 1st of August 'pending' but 'available'. That's a little 'over the weekend' game that Chase plays. But this month we'll take it. It's about sixty percent of the total, with the largest payment due on the 3rd. *sigh* Basically we're holding our breath, though I know we're in better shape than many if a Default does in fact happen.
It's criminal the way politicians in Washington are ignoring the very real possibility that this budget deal could plunge us into another recession (just in time for Obama to lose re-election and Democrats to lose the Senate). From Bloomberg:
Congressional agreement on budget cuts could cause troubles of its own. Less spending by the Federal government would be “a real problem” for the economy, Guy LeBas, chief fixed income strategist at Janney Montgomery Scott LLC in Philadelphia, said in a July 29 interview on Bloomberg Television.Here's some pretty direct evidence that the stimulus did help the economy grow, and cut backs in federal spending helped the economy shrink (or at least grow at a smaller rate).
“We could see a growing risk of recession in the fourth quarter, early 2012, if in fact the federal government gets it together and makes aggressive budget cuts,” LeBas said.
No one, and I mean no one, on the Hill, at the White House, anywhere is talking about what these grand bargains are going to do to the economy next year. I don't mean this as a personal shot, but it's easy to tell people to eat their spinach when you make a government guaranteed salary of $400,000 a year, or even a congressman's guaranteed salary of $174,000 a year. It doesn't mean you don't care, but it does mean that the concern isn't personal, like it is for the rest of us.
If you're actually worried about how you're going to pay your mortgage, or feed your family, or stop your car from being repossessed, all this hysteria about cutting the deficit - and not just ignoring the economy, but actually proposing policies that may send us into another recession (a direction we're already heading) - doesn't sound all that grand at all.
Mark my words: No one, not Reid, McConnell, Boehner, Pelosi or Obama is willing to answer the simple question of what these grand bargains are going to do to the economy next year, and in the years to come. And sadly, the media doesn't seem terribly interested either.
..this is a comment I made in a friends LJ..
"I have come to the conclusion that The Great Experiment of Mass Democracy has failed. It has taken me a few decades to be willing to admit such an outcome, but it has been driven home to me over the past half dozen years.
You've known me long enough to be fully aware that Politics to me is like Sports for most American males. I eat, breathe, and sleep the stuff, have done so since I was a kid, and these days I can do that 24/7/365.
But even with that capacity and inclination, modern society and civilization and all of its myriad mechanisms is still too much for even someone like me to keep track of in an effective fashion. The 'average citizen' is then far more lost in, and overwhelmed by, these things, even those who share my inclinations, and there ain't all that many of those.
Joe Bageant's Anonymous Political Consultant said here; “The mastery of the political right over the past thirty years has been primarily to better understand the irrational factors in politics. Conservatives have always understood that when it comes to politics, people rarely act in their rational self-interest but instead on emotion, fears and the perception of their interests.”
Most people do not want to wake up, especially here in The Republic. Too fucking scary. And a fair number of those are in fact constitutionally incapable of waking at all.
Another type of social order is needed. What that new construct might be is now the responsibility of the Aware Individual." ...I ended there, but kept thinking about this...
Participatory democracy does not seem to work when the citizen base gets beyond five or ten thousand. At that point 'political mechanisms' seem to grow almost organically and began to remove the process from the reach of 'the average citizen'. The increase in social complexity creates the Political Specialist. Add Economic and Technological Systems, and 'the average citizen' is finished ...except as a Cipher for Those Who Rule.
However, any discussion of 'qualifying' the Franchise brings howls of rage and, given past performance, rightly so.
But should not the electorate of such a powerful nation as this be required to meet some Standard beyond accident of birth? Should not 'the average citizen' be required to pass something like The Naturalization Test our new citizens must take before being entrusted with a Vote?
It's really not that hard a test...if you have a fucking brain in your head.
Of course, I'm not holding my breath in that matter. But I am pursuing a Course of Action.
In the long term, my own personal belief on where we need to go is to use a version of Heinlein's Federal Service Model as a transition to a society that is some combination of the two cultures Peter Hamilton calls Edenism and Adamism. I suspect we'll get a bit closer to the latter.
The above set of paths are templates I propose for the path of The Temple in this matter. Of course, I know things will shift and change.
One of the most interesting things I've read in the last few years came from William Gibson, Godfather of Cyberpunk. He was amazed that in his very prophetic novel Neuromancer, he had completely overlooked the potential impact of cellphones, totally dropped the ball on the subject.
I take his revelation to heart, both as a writer and as Her Prophet.
For those that dismiss this as mere 'sci-fi thinking', please note you happen to be reading this on The Internet and probably own one of those pesky cellphones, too. Science Fiction is Right Now.
Note on July 30th, 2011: The events of the last three years have utterly confirmed the conclusions I reached above.
"I have come to the conclusion that The Great Experiment of Mass Democracy has failed. It has taken me a few decades to be willing to admit such an outcome, but it has been driven home to me over the past half dozen years.
You've known me long enough to be fully aware that Politics to me is like Sports for most American males. I eat, breathe, and sleep the stuff, have done so since I was a kid, and these days I can do that 24/7/365.
But even with that capacity and inclination, modern society and civilization and all of its myriad mechanisms is still too much for even someone like me to keep track of in an effective fashion. The 'average citizen' is then far more lost in, and overwhelmed by, these things, even those who share my inclinations, and there ain't all that many of those.
Joe Bageant's Anonymous Political Consultant said here; “The mastery of the political right over the past thirty years has been primarily to better understand the irrational factors in politics. Conservatives have always understood that when it comes to politics, people rarely act in their rational self-interest but instead on emotion, fears and the perception of their interests.”
Most people do not want to wake up, especially here in The Republic. Too fucking scary. And a fair number of those are in fact constitutionally incapable of waking at all.
Another type of social order is needed. What that new construct might be is now the responsibility of the Aware Individual." ...I ended there, but kept thinking about this...
Participatory democracy does not seem to work when the citizen base gets beyond five or ten thousand. At that point 'political mechanisms' seem to grow almost organically and began to remove the process from the reach of 'the average citizen'. The increase in social complexity creates the Political Specialist. Add Economic and Technological Systems, and 'the average citizen' is finished ...except as a Cipher for Those Who Rule.
However, any discussion of 'qualifying' the Franchise brings howls of rage and, given past performance, rightly so.
But should not the electorate of such a powerful nation as this be required to meet some Standard beyond accident of birth? Should not 'the average citizen' be required to pass something like The Naturalization Test our new citizens must take before being entrusted with a Vote?
It's really not that hard a test...if you have a fucking brain in your head.
Of course, I'm not holding my breath in that matter. But I am pursuing a Course of Action.
In the long term, my own personal belief on where we need to go is to use a version of Heinlein's Federal Service Model as a transition to a society that is some combination of the two cultures Peter Hamilton calls Edenism and Adamism. I suspect we'll get a bit closer to the latter.
The above set of paths are templates I propose for the path of The Temple in this matter. Of course, I know things will shift and change.
One of the most interesting things I've read in the last few years came from William Gibson, Godfather of Cyberpunk. He was amazed that in his very prophetic novel Neuromancer, he had completely overlooked the potential impact of cellphones, totally dropped the ball on the subject.
I take his revelation to heart, both as a writer and as Her Prophet.
For those that dismiss this as mere 'sci-fi thinking', please note you happen to be reading this on The Internet and probably own one of those pesky cellphones, too. Science Fiction is Right Now.
Note on July 30th, 2011: The events of the last three years have utterly confirmed the conclusions I reached above.