Tuesday, June 7, 2011

And Now, a Word About America's Real Crisis: It's Still the Economy, Stupid

Obviously, the issue with NY Congressman Anthony Weiner is a political and ethical issue, but once again, it serves as a distraction from the crucial issues facing this country:

CBS News - Chronic unemployment worse than the Great Depression; link here

John Crudele in the NY Post:
"President Obama won't fully understand the mess he's in until he realizes how squishy these job figures are. And Labor is doing nothing to correct these false assumptions. Despite the fact that the economy is clearly slowing, the department this year added 206,000 phony jobs to May; last year's guess was "just" 192,000. And those 192,000 jobs had to eventually be taken out of the annual calculation. So, bottom line: The economy is in bad shape even before talk of possible budget cuts and debt ceilings disrupt it even more.

"Congress and the president long ago abdicated their role in helping the economy." Crudele also offers an interesting solution to the real estate market woes that sounds like it could have potential. More here 

I guess if you can say anything good, don't say anything at all: The Hill reports that daily economic briefings have disappeared from the White House schedule here

James Carville on the political economy in the Daily Caller: "Who ever thought the saying, “It’s the economy stupid,” from James Carville in 1992 would become a staple in presidential elections 20 years later?

"That expression made its way into the campaign in 2008, and according to Carville, it could be the theme of the 2012 campaign as well as President Barack Obama seeks reelection. In an appearance on Monday’s “Imus in the Morning” on the Fox Business Network, the former Clinton adviser said that, based on the May jobs number, if the unemployment picture doesn’t improve, 2012 could be rough for the president."

Referencing "This Time Is Different: Eight Centuries of Financial Folly", a 2009 book by Carmen M. Reinhart and Kenneth Rogoff, Carville notes that the current economic situation, as with similar crises of this magnitude, will take time to work itself out and there may be little Obama can do.

“It is going to be very difficult,” Carville said. “But the country, if that is what we are doing, this is gruesome on people. This unemployment rate for this long is a humanitarian crisis of the first magnitude. This financial crisis, people have studied this by the way, they know that the things take this long to work their way through. The aftermath of these things — kind of an academic book that is dry entitled ‘This Time is Different.’ What it concluded is that it is not different this time. They studied it, the aftermath of the financial crisis. What we are going through is imminently predictable. But this is a terrible thing that has happened to people’s lives. I think the president at one level understands that, you know. But he is limited in what he can do. So we’ll just have to see. But it’s going to be hard. If 54,000 jobs is the new norm — this is going to be very, very tough.

You know, look — this is a humanitarian — you know, you’re smart enough to see this,” Carville said. “People, you know, if it continues, we’re going to start to see civil unrest in this country. I hate to say that, but I think it’s imminently possible.”   More here

Current Reading

  • Midnight Rising: John Brown and the Raid that Sparked the Civil War- Tony Horwitz
  • A Sultan in Palermo - Tariq Ali
  • Hitch-22: A Memoir - Christopher Hitchens
  • Negropedia- Patrice Evans
  • Dead Funny: Humor in Nazi Germany - Rudolph Herzog
  • Exile on Main Street - Robert Greenfield
  • Among the Truthers - A Journey Among America's Growing Conspiracist Underworld - Jonathan Kay
  • Paradise Lost - John Milton
  • What Is Your Dangerous Idea? Thinking the Unthinkable - John Brockman
  • Notes from the Edge Times - Daniel Pinchbeck
  • Fringe-ology: How I Can't Explain Away the Unexplainable- Steve Volk
  • Un Juif pour l'exemple (translated as A Jew Must Die )- Jacques Cheesex
  • The God Delusion - Richard Dawkins
  • Pale King - David Foster Wallce
  • David Bowie: Starman bio - Paul Trynka
  • Tobacco Stained Mountain Goat - Andrez Bergen
  • The Future of Nostalgia -Svetlana Boym
  • Living in the End Times - Slavoj ZIzek
  • FIrst as Tragedy Next as Farce - Slavoj Zizek
  • How to Survive a Robot Uprising - Daniel Wilson
  • Where is My Jet Pack? -Daniel Wilson
  • Day of the Oprichniks - Vladimir Sorokin
  • Ice Trilogy - Vladimir Sorokin
  • First Civilizations
  • Oscar Wilde -Andre Maurois
  • The Beats - Harvey Pekar, et al
  • SDS - Harvey Pekar, et al
  • The Unfinished Animal - Theodore Roszak
  • Friends of Eddy Coyle
  • Brooklands -Emily Barton
  • Abraham Lincoln - Vampire Hunter - Seth Grahme-Smith - Entertaining and historical
  • Dictionary of the Khazars - Pavic
  • Sloth-Gilbert Hernandez
  • War and Peace- Leo Tolstoy
  • Charles Addams: An Evilution
  • Life in Ancient Greece
  • Time - Eva Hoffmann
  • Violence - S. Zizek
  • Luba - a graphic novel by Gilbert Hernandez
  • Life in Ancient Egypt
  • Great Apes - Will Self - riveting and disturbing
  • Lost Honor of Katherina Blum - Heinrich Boll - could not put it down
  • Yellow Back Radio Brokedown - Ishmael Reed (author deserving of new wide readership)
  • Living in Ancient Mesopotomia
  • Landscape in Concrete - Jakov Lind - surreal
  • 'There Once Lived A Woman Who Tried To Kill Her Neighbor's Baby'-Ludmilla Petrushevskaya - creepy stories - translation feels literarily "thin"
  • Mythologies - William Butler Yeats (re-read again & again)
  • How German Is It ? - Walter Abish
  • The Book of Genesis - illustrated by R. Crumb - visionary
  • "Flags" - an illustrated encyclopedia - wish I could remember all of these. Flag culture
  • Sirens of Titan - Kurt Vonnegut
  • Ubik - Philip K. Dick
  • Nobody's Fool - Richard Russo
  • Hitler's Empire - Mark Mazower
  • Nazi Culture - various authors
  • Master Plan: Himmler 's Scholars and the Holocaust - Heather Pringle
  • Eichmann in Jerusalem - Hannah Arendt
  • Living in Ancient Rome
  • Traveling with Herodotus -R. Kapuszynsky
  • Oblivion - David Foster Wallace - Some of his greatest work
  • Infinite Jest - David Foster Wallace - still wrestling with this great book
  • Netherland - Joseph O'Neill - staggeringly great read
  • Renegade - The Obama Campaign - Richard Wolffe
  • Mount Analogue - Rene Daumal
  • John Brown
  • Anathem - Neal Stephenson - love Stephenson but tough slogging first few chapters
  • 7 Deadly Sins
  • ALEX COX - Alex Cox
  • FIASCO by Thomas Ricks
  • I, Fellini - Charlotte Chandler & Federico Fellini
  • Best of 20th century alternative history fiction
  • Judah P. Benjamin - Eli Evans - Confederacy's Secretary of State & source of the W.C. Field's exclamation
  • Moscow 2042 - Vladimir Voinovich - Pre-1989 curiosity & entertaining sci fi read; love his portrayal of Solzhenitsyn-like character
  • Gomorrah - Roberto Saviano - Mafia without the It-Am sugar coating. Brutal & disturbing
  • The Sack of Rome - Celebrity+Media+Money=Silvio Berlusconi - Alexander Stille
  • Reporting - David Remnick - terrific journalism
  • Fassbinder
  • Indignation - Philip Roth
  • Rome
  • Let's Go Italy! 2008
  • Italian Phrases for Dummies
  • How to Pack
  • Violence - Slavoj Zizek
  • Dali: Painting & Film
  • The Gang That Couldn't Shoot Straight - Jimmy Breslin
  • The Good Rat - Jimmy Breslin
  • Spook Country - William Gibson
  • A Blue Hand - The Beats in India - Deborah Baker
  • The Metaphysical Club - Louis Menard
  • Coast of Utopia - Tom Stoppard
  • Physics of the Impossible - Dr. Michio Kaku
  • Managing the Unexpected - Weick & Sutcliffe
  • Wait Til The Midnight Hour - Writings on Black Power
  • Yellow Back Radio Brokedown - Ishmael Reed
  • Burning Down the Masters' House - Jayson Blair
  • Howl - Allen Ginsberg
  • Cat's Cradle - Kurt Vonnegut
  • The Palace Thief - Ethan Canin
  • John Adams - David McCullough
  • The Wooden Sea - Jonathan Carroll
  • American Gangster - Mark Jacobson
  • Return of the King - J.R.R. Tolkien
  • Gawker Guide to Becoming King of All Media
  • Jews and Power - Ruth Wisse
  • Youth Without Youth - Mircea Eliade
  • A Team of Rivals - Doris Goodwin
  • Ghost Hunters -William James and the Search for Scientific Proof of Life After Death - Deborah Blum
  • Dream -Re-Imagining Progressive Politics in an Age of Fantasy - Stephen Duncombe
  • Love & Theft - Eric Lott
  • Exit Ghost - Philip Roth
  • Studio A - The Bob Dylan Reader

Current Listening

  • Alexi Murdoch Wait
  • Wilco Summer Teeth
  • Wilco The Album
  • Carmina Burana - Ray Manzarek (& Michael Riesmann)
  • Polyrock - Polyrock
  • 96 Tears - Garland Jeffries
  • Ghost of a Chance Garland Jeffries
  • Yellow Magic Orchestra
  • Mustang Sally Buddy Guy
  • John Lee Hooker
  • Black and White Years
  • Together Through Life - B. Dylan
  • 100 Days 100 Nites - Sharon Jones & The Dap Kings
  • DYLAN: 3 disc Greatest...
  • Glassworks - Philip Glass
  • Wild Palms - Soundtrack -Ryuichi Sakamoto
  • Dinah Washington - Best of..
  • Commander Cody& His Lost Planet Airmen Live at Armadillo