Posts tagged: Paul Krugman

My Obama 08 Bumper Sticker

I covered up my Obama 08 bumper sticker today. It has been on the back bumper of my 1997 Honda Accord for several years. I tried to scrape it off with my Swiss army knife, but that wasn’t working very well. It has been baked on I guess through a couple of hot summers and cold eastern New York winters. Duct tape did the trick.

Obama 08 Bumper Sticker

Obama 08 Bumper Sticker

Enough is enough. The latest tax “deal” that President Obama made with the Republicans was too much for me. I can’t take it anymore. I would gladly have had my taxes go up next year instead of having this tax deal passed.

Here is the bumper after covering up the offending sticker:

Photo of taped over bumper sticker

Photo of taped over bumper sticker

I am going to try and find a Bernie Sanders bumper sticker to put over this. He is the Senator from Vermont who stood up in the Senate for over 8 hours the other day and told the truth about the Obama tax deal with the Republicans.

As Paul Krugman said, “We need a better government than we’ve got.”

The Born Warning

I watched a very disturbing story called “The Warning” on Frontline last night. I urge you to take an hour and watch it yourself. You can watch it on Frontline’s website now.

It is the story of a courageous woman named Brooksley Born and how, way back in 1998, she warned Congress and the American people that the over the counter derivatives market needed to be regulated. Alan Greenspan, Larry Summers, Robert Rubin and Phil Gramm all fought hard against regulation. They won. The Amercian people lost. It is just shameful. I did not know who Brooksley Born was until I saw the story on Frontline.

Even after the hedge fund Long Term Capital Management collapsed in 1998, nothing was done. Greenspan still didn’t think regulation was needed. I didn’t know until I watched this that Greenspan was a huge follower of Ayn Rand. She didn’t believe in regulation of the markets either.

We still don’t have any regulation over the derivative market. It is a $595 trillion market that operates in the dark. Even now, after the economic collapse of last year and the government bailout of the banks, Wall Street is fighting against regulation.

What horrible thing is hiding under that rock?  Someone needs to shine a light on it. I have more questions.

Why isn’t there an investigation of exactly why the economy collapsed so the guilty parties can be punished?

Is Bernie Madoff the only person going to prison?

Why hasn’t anyone given Brooksley Born a medal for what she did? Alan Greenspan should take off his Presidential Medal of Freedom and give it to her.

Why hasn’t anyone turned this story into a movie?

At the end of the show, I sadly concluded that our government is either totally incompetent, horribly corrupt, or both. There is just no other conclusion to be reached. It’s disgusting.

As Paul Krugman says, “We need a better government than we’ve got.”

Watch “The Warning” on Frontline.

Paul Krugman and The Return of Depression Economics

I went to see Paul Krugman speak at the Riley Center for the Arts at Burr and Burton Academy in Manchester, Vermont Saturday night. He was there to promote the softcover release of his book, “The Return of Depression Economics and the Crisis of 2008.” Paul is one of my favorite columnists at the New York Times and I read him religiously (don’t tell Bill Maher). He is the winner of the Nobel Prize in Economics for 2008 and a Professor of Economics at Princeton University. He also has a blog called, “The Conscience of a Liberal.”

It was the first time I had been to the Riley Center for the Arts. I got there early and parked right out front. There were only a few people there when I arrived. I had purchased my tickets in advance and they were waiting for me when I arrived. The $10 price of admission was also good for $10 off the price of the book, which I thought was a pretty good deal. The cover price is $16.95. Mr. Krugman was going to sign the book after he spoke. I went into the theater to find a seat. It’s a very cozy, comfortable auditorium that holds about 250 people. They are all good seats. I sat four rows back on the center isle. I could see and hear perfectly.

Mr. Krugman was introduced by one of the owners of the Northshire Bookstore who sponsored the event. He gave an interesting talk for 45 minutes or so about the current economic crisis. At times he was funny and at times he was serous. He then invited the audience to ask questions.

One of the more interesting questions was, where are the jobs going to come from for our kids. Paul said that he wasn’t really sure but, green jobs were one possibility. Where are those green jobs anyway? I think the person who asked the question was retired. He may not realize how many people over 50 are looking for work after having been laid off from a job they held for years. In recessions that I remember, it was always assumed that even if you were laid off, you would probably get hired back by the same company when the recession was over. Nobody is assuming that now. A lot of manufacturing jobs are gone and they aren’t coming back, unless by some miracle something changes drastically.

I was listening to the different questions people were asking and trying to think of one of my own. I finally came up with a question about the Glass-Steagall Act but, by then it was too late to ask. I wanted to ask him if he thought the Glass-Steagall Act, that was enacted in 1933 during the Great Depression and repealed in 1999, should be brought back to prevent another financial crisis. It seemed to work pretty well for 70 years or so.

I’m not going to try and tell you everything he said. I don’t remember it all and I didn’t take notes. You can read his column, blog and book if you want to know what he thinks. Having said that, here is a quote from his October 2, 2009 column in the New York Times:

“But while not having another depression is a good thing, all indications are that unless the government does much more than is currently planned to help the economy recover, the job market — a market in which there are currently six times as many people seeking work as there are jobs on offer — will remain terrible for years to come.”

Wow. I don’t think a lot of politicians realize how bad the economy really is. There is far too little being done to create jobs in this country. The politicians  just don’t get it.

This March 28, 2009 Newsweek story about Paul is interesting. The title of the story is, “Obama’s Nobel Headache” and it refers to Paul Krugman’s Nobel Prize not President Obama’s.  Apparently Paul and I have some things in common. We are both the same age (56) and we both came home from school once with a bloody nose. The article implies that it was from a punch in the nose. Mine was too and it was well worth it. Based on the picture that goes with the article, he needs a bigger umbrella too.

After he spoke Mr. Krugman signed copies of his book. I was lucky enough to be one of the first in line. When it was my turn, there was a young man standing next to him talking to him as he was signing. I always thought that when an author was signing his book for you, that you should be able to have a quick converstation. I leaned over the table a little bit and got his attention by saying that I enjoyed his column in the New York Times and that I enjoyed his speech tonight. He looked at me and said thank you.

It was nice to get to meet someone that I read all the time and see on television. It only lasted a few seconds, but by the time I left, the young man was gone too.

As I was leaving the building, I noticed a woman next to me wearing a very interesting “peace button.” I told her that I liked it and she offered to give me one. She ended up giving me three buttons. Twice I offered to pay her for them, but she would not take any money. She said she had been making them since 2001 and giving them away. She never accepted payment. She gave me a business card and said that I should email her and explain how we met and she would send me another button. I am going to contact her today and find out the “rest of the story.”

We Need Healthcare Reform Now

The U.S. Capitol Building

The U.S. Capitol in Washington, D.C.

President Barack Obama’s speech last night to a joint session of Congress was amazing. He is such an eloquent speaker. From the beginning of  his speech to the end, he spoke directly and clearly to Congress and the American people about what was needed to reform health care in America. It’s time for our elected officials to get behind the president and enact health care reform.

All of the other major industrialized countries in the world can’t be wrong. Citizens of the United States shouldn’t have to go bankrupt or lose their home because they get sick. It is time for the Republicans to shut up and do the right thing for their country.

The idea that the Republicans would lie about and fight against health care reform so that they could “defeat” the president is despicable.

In an interview with the Huffington Post last month, Congressman Henry Waxman, a Democrat from California said, “I think they have made a political decision that their best chance to pick up the Congress and to get power again is to be able to run in 2010 and say that Obama didn’t accomplish anything. And they are doing their best to make sure that happens.”

I was going to call Republican Congressman Joe Wilson from South Carolina, who shouted “you lie” at the president at one point during the speech, a “little weasel”, but I’m not. Maybe he is taking Wellbutrin to help him quit smoking and it’s making him a little paranoid. I was trying to quit smoking a few years back and was taking Wellbutrin. It made me paranoid and sometimes I would yell things out. I stopped taking it. As far as I am concerned, it would have been appropriate for the Sergeant-At-Arms to have removed him from the room.  I would have loved to have seen that.  Where was Wilson when Bush was lying to Congress about going to war with Iraq? He is more worked up about health care reform and illegal immigrants than he was about war. From what I have read, we are already giving free medical care to illegal aliens. If you have a medical emergency and show up at a hospital, the doctors have to treat you.

Cell phones and Blackberries should be banned from the room when the president is speaking. Republican Eric Cantor from Virginia could be seen playing with his Blackberry during the president’s speech. How disrespectful.  What could possibly have been on his Blackberry that was more important than what the president was saying? What? He should start paying more attention to what Barack Obama is saying and stop listening to Rush Limbaugh and John Boehner.

John Boehner, a Republican Senator from Ohio, was sitting right next to Cantor. They are the dynamic duo of the Republican party. They just say no to anything the president wants to do.

It wasn’t always so. Republicans were not always obstinate jackasses. Republicans have actually supported some important pieces of legislation in the past. Eighty-one Republicans in the House of Representatives voted for The Social Security Act of 1935. Fifteen voted no and 4 didn’t vote. The Democrats voted 284 yes, 15 no and 20 didn’t vote. The Senate vote was Republicans, 16 yes, 5 no and 4 not voting. Sixty Democrats voted yes, 1 no and 8 didn’t vote.

Many Republicans supported the Civil Rights Act of 1964. The House vote was Republicans 138 yes, 34 no, Democrats 152 yes, 96 no. In the Senate the vote was Republicans 27 yes, 6 no, Democrats 44 yes, 23 no.

It actually is possible for our elected officials to do the right thing and vote their conscience and not their party.

I don’t understand the rabid hatred that some elected officials have for President Obama. How can Republicans like former Alaskan Governor Sarah Palin and Senator Charles E. Grassley of Iowa spread lies about “death panels?”  It is the same mentality that allowed Bush and Cheney to start the war in Iraq. It’s obvious that lies are being told and that the emperor has no clothes.

The Republican party needs to come to its senses and support meaningful legislation to move this country forward in a positive direction. They can’t just sit back, do their best to thwart the president and hope he fails so that they can reclaim the White House in four years. They supported tax cuts for the rich. That was the first thing Bush did when he got elected. That is one of the reasons the deficit is so big today. They supported starting a war in Iraq that we didn’t have to fight. That was another unfunded, shameful, budget disaster. We can waste a trillion dollars on a needless war, but we can’t provide health care for our citizens. That would be too much like socialism.

Doctors today, with all of the  technology, drugs and knowledge available, can do some amazing things. I know. I have been a beneficiary of  some of that advanced care. I’m glad to still be here. At the time I worked for a great company that provided one of the best health insurance packages in the world. I don’t think I ever had to pay a bill except for small co-pays at the doctors office. I don’t work for that company any more and I buy my own health insurance. It’s not as good as what I had when I worked for the world class company.

If something happened to me again today, I know that I would have to pay out a lot of my own money. Perhaps if the members of Congress had to buy their own insurance and didn’t have a taxpayer paid plan, they would be more interested in reforming health care. Your health care shouldn’t be dependent on where you work or what you do.

Although I remember when they did, doctors don’t make house calls anymore. Health care has changed dramatically since Teddy Roosevelt and the Progressive Party Platform of 1912 mentioned it. Franklin D. Roosevelt wanted to create a national health care system in 1935 when Social Security was started, but couldn’t do it. President Clinton and First Lady Hillary Clinton tried to get health care reform passed in 1993. They were shouted down by the same mentality that is trying to shout down reform today.

Daniel Gross wrote a great article on Slate called, “The Private Option.” The subtitle is “Employment-based health insurance is in big trouble, but don’t blame Obama.” In it he says that 29% of Americans already get their health insurance directly from the government (people on Medicare, Medicaid and members of the military). That figure doesn’t include teachers, state workers, county workers, city workers, and town and village workers who get their insurance indirectly from the government, but still paid for by taxes.

On September 8, 2009 in the New York Times, Paul Krugman, one of my favorite writers, wrote a column called, “Why the public option matters.” The health care reform bill must contain a public option. Anything less will not be real reform.

It’s absolutely crucial that the reforms that President Obama outlined in his speech last night are implemented. The American public must win this fight over the special interests and lobbyists who want to defeat health care reform. Contact your Congressman and Senators and let them know that you support President Obama.

I support Barack Obama and I commend him for fighting for health care reform. You should too.

Nicholas D. Kristof wrote a column for the New York Times called, “Let Congress Go Without Insurance” on October 7, 2009. Take a few minutes and read what Nicholas Kristof has to say.

Reforming Albany

The New York State Capitol in AlbanyThere are 150 members of the New York State Assembly and 62 Senators. There are 19 million of us. They are seriously outnumbered.

How do you force the politicians in Albany to reform a rotten system that benefits them at the expense of the people of New York? The perception is that the government in New York state is corrupt, unethical, and dishonest, and that nothing can be done. That’s just the way it is and nobody can change it. It’s politics as usual.

I disagree. We can fix Albany. It is not an impossible task. A serious ethics law is the first step. No meaningful reform will come out of Albany until a real ethics law is passed. Everything else will flow from that. Here is how we can force them to enact a serious ethics law.

Common Cause or the League of Women Voters should write an ethics law for the New York Assembly and Senate. It should be written in plain English so that a fifth grader can read and understand it.

It should be published in all of the daily newspapers in New York state on the same day. That is important. It should take up the entire page. It should be published on their websites as well.   At the bottom of the document leave a space for every member of the Assembly and Senate to sign it.

It would be like the signatures on the Declaration of Independence. If the signature isn’t legible, print the name too. This will take ethics reform out of the State Capitol in Albany and put it in front of the public in plain view.

The newspapers should also publish the phone numbers, email, and postal addresses of each member of the legislature. The newspapers should ask each reader to contact their representatives and demand that they sign the new ethics law as published in the paper.

The League of Women Voters or Common Cause would be the main contact point for the legislators. They would have to send a letter saying that they supported the ethics law and to please sign their name to it so that their constituents could see it.

This document would be updated every day with the new signatures on the websites of the newspapers until there are enough signatures to make it a law. You would be able to see on a daily basis who supported it and who didn’t support it.

This should shame the politicians into doing the right thing, since they won’t do it themselves. Voters will be looking for the names of their representatives. If voters don’t see their names, they can call them and find out why. If not enough signatures are obtained after 30 days, proceed to step two.

Step 2 would be a daily protest at the State Capitol in Albany. A hundred people a day would do. This would go on every day while the legislature is in session.

If there are still not enough signatures and the legislature goes home, proceed to step three.

Step 3 would be several protesters following each individual legislator 24 hours a day until they sign the document. Everywhere the legislator went, there would be protestors with signs following them.

Eventually, there will be enough signatures. Someone will have to introduce a bill to make the ethics law a real, legal law that the Assembly and Senate must obey or face the consequences. The first person to step up and sign the ethics law in the newspaper should have the privilege of introducing the bill.

After the ethics bill becomes a law, the members of the Assembly and Senate should have to take an oath and proclaim that they have read it, understand it and will act accordingly.

There has got to be a way to reform the politicians in Albany. Business as usual is killing this state. The citizens of New York are being cheated everyday.

Paul Krugman, the Pulitzer Prize winning economist from Princeton University and a New York Times columnist, said on the Bill Maher show last September, “We need a better government than we’ve got.”

He was talking about the federal government in Washington, D.C., but you can apply it to New York state government just as easily.

We need a better government than we’ve got and we need it now.

Say No to the Bailout

Bush wants to shove this bailout down our throats and he is in an awful hurry to do it. Bush basically wants us to give him a  blank check and trust him to do the right thing. And he wants it done this week. Alarm bells should be clanging all over the country. He has not done the right thing in 8 years. Why would he start now? I don’t trust him AT ALL and you shouldn’t either. He lied to us about Iraq, lied to us about the Patriot Act and he lied to us about the tax cuts for the rich that he rammed through Congress when he first took office. He is lying now. He has never apologized or admitted that he is wrong and he never will. He is a a national disgrace.

I guarantee you that the bailout will be worse than the problem it is supposed to fix. It is an absolutely stupid idea that will reward the greedy, incompetent, morons on Wall Street for being greedy, incompetent morons. It will stick hard working Americans with another bill that they can’t afford. Let all the bigshots on Wall Street pay for the bailout with the millions and millions of dollars in their golden parachutes. They screwed it up big time and will walk away laughing, live in luxury and let some man or woman making $12 an hour pay the tab. No way.

I am afraid that our representatives in Congress will not have the backbone to stand up to him over this. I don’t understand why. Oh, they might put on a little show and complain a little bit, but they will probably cave in and give Bush what he wants. I don’t have any confidence in them at all that they will do the right thing either. It would be nice to see, but they will probably roll over like they usually do.

Maybe we can inspire them a little. Let them know we will stand with them if they will stand up to Bush.

Write your Senators and Congressman today. Right now. I did it this morning. It’s easy. In a few days it could all be over. Tell them to say no to the bailout. Tell them to say no to Bush. Tell them to come up with another solution instead of sticking it to the little guy. Tell them to have a backbone and do the right thing.

You can find your U.S. Senator’s email address here. You can do this in 10 minutes or less. Let them know you want them to stand up to Bush and say no to the bailout.

You can find your Representative’s email address here. It’s easy and takes 10 minutes or less.

You can get phone numbers and call them at either link too and regular mail addresses, but this is all going to be over in a matter of days.

You can email both of your Senators and your Representative in the time in takes to watch 1 half hour sitcom!

While you are at it, send an email to Barack Obama and John McCain and tell them to say no too. I’m going to do that right now.

Paul Krugman was on The Bill Maher show Friday night and said, “We really need a better government than the one we’ve got.” I love it.

I’m voting for Barack Obama. You should too.

Note added on October 22, 2013: For more information about the political process, both major parties and how our government works visit Politics.Answers.com.

 

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