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anonymous

Obama v. Reagan: Fun Comparison I Did To Piss Off Wingnuts on Reagan's B-day - 1 views

  • OBAMA:   Our troops were repeatedly attacked in Afghanistan, yet when Obama came into office, he increased troop strength by 68,000.  (Along with an actual plan, unlike his predecessor.)  His track record of killing terrorists far outweighs his predecessors.
  • REAGAN:   Reagan retreated from Lebanon immediately after the 1983 terror attack by Hezbollah that resulted in the murder of 243 Marines.  According to the 9/11 Commission Report (p. 68), Reagan's cut and run INSPIRED Bin Laden, who viewed the United States as a “paper tiger” because of its rapid withdrawal after the attack.
  • I believe in the idea of amnesty for those who have put down roots and lived here even though sometime back they may have entered illegally. -Ronald Reagan 10/28/1984
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  • No matter how  decent they are, no matter their reasons, the 11 million who broke these law should be held accountable. -Barack Obama  July 2010
  • Obama has consistently CUT taxes, not raised them.   REAGAN:   He got through a big tax cut once he took office. But to hear conservatives talk, that's where the story ends. They forget he raised income taxes in 1982, 1984, 1985, 1986 and 1987.
  • Actually, he raised taxes 11 times to include four MASSIVE tax increases!  
  • REAGAN:   Whether you are looking at the economic policies of Ronald Reagan or George W. Bush, reigning in the deficit was clearly of no concern. Reagan tripled the Gross Federal Debt, from $900 billion to $2.7 trillion. Ford and Carter in their combined terms could only double it. It took 31 years to accomplish the first postwar debt tripling, yet Reagan did it in eight. Reagan soared the spending, Clinton brought in back down a bit, and W. took it way back up.  To be fair to the Gipper, NO ONE did deficit like W.  He spent the Clinton surplus like  a drunken sailor.  And by the way, Obama's spending initiatives were  less than half of his predecessor.  
  • OBAMA:   Even though Obama inherited a huge debt from W., and focused on a stimulus that benefited the people instead of Bush's stimulus for Wall Street, he still has a much better record on spending than the Gipper and much better than W.  Obama did not triple the gross federal debt like Reagan did.  Obama is following the Clinton model of spending up front and then focusing on deficit reduction.  I predict at the end of Obama's term in 2016, the deficit will be cut drastically--but it can't be anywhere close to what Reagan or Bush had at the end of their two terms.  Why?  Because the GOP loves to throw money at their base...tax cuts for Big Oil and the wealthiest amongst us which add hundreds of billions to the debt but create nothing.  That ain't happening--you are welcome teabaggers.
  • REAGAN: COMPLETELY supported the Brady Bill, the holy grail of gun control.  Reagan even wrote an op-ed piece for it in the evil NY Times.
  • OBAMA: The Brady Center to Prevent Gun Violence flunked Obama on every single gun control issue.  Proposed nothing for federal gun control laws when he had a super majority Dem Congress.  When he had that Dem majority, in fact, federal gun rights EXPANDED by allowing guns on trains and in our national parks.  Yet the NRA still told their idiot members that Obama was coming to take their guns.... and gun sales skyrocketed.
  • REAGAN:   Reagan APPEASED terrorists.   Here he is with the Taliban:
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    "Imagine a world that never knew Ronald Reagan:   No Scalia, No Rumsfeld, No Cheney.  No Bushes and all of their appointments and disasters.  No funding of dictators like Saddam Hussein (Reagan propped him up big time) or psychopaths like Osama Bin Laden (that worked out well)." This is one hell of a rant.
anonymous

Think Again: Ronald Reagan - 0 views

  • The Gipper wasn't the warhound his conservative followers would have you think.
  • These days, virtually every time someone on the American right bashes President Barack Obama for kowtowing to dictators or failing to shout that we're at war, they light a votive candle to Ronald Reagan.
  • He launched exactly one land war, against Grenada, whose army totaled 600 men. It lasted two days. And his only air war -- the 1986 bombing of Libya -- was even briefer.
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  • at an early meeting, when Secretary of State Alexander Haig suggested that achieving this goal might require bombing Cuba, the suggestion "scared the shit out of Ronald Reagan," according to White House aide Michael Deaver. Haig was marginalized, then resigned, and Reagan never seriously considered sending U.S. troops south of the border, despite demands from conservative intellectuals like Norman Podhoretz and William F. Buckley.
  • Reagan's political genius lay in recognizing that what Americans wanted was a president who exorcised the ghost of the Vietnam War without fighting another Vietnam. Although Americans enjoyed Reagan's thunderous denunciations of Central American communism, 75 percent of them, according to a 1985 Louis Harris survey, opposed invading Nicaragua.
  • So Reagan created Potemkin Vietnams. His biographer Lou Cannon calls him "shameless" in using Grenada to revive America's Vietnam-wounded pride. The war resulted in more medals per soldier than any military operation in U.S. history. When he bombed Libya in 1986, Reagan goosed American nationalism again, declaring, "Every nickel-and-dime dictator the world over knows that if he tangles with the United States of America, he will pay a price."
  • Reagan's role in winning the Cold War lies at the core of the American right's mythology.
  • The legend goes like this: Reagan came into office, dramatically hiked defense spending, unveiled the Strategic Defense Initiative (his "Star Wars" missile shield), and aided anti-communist rebels in the Third World. Unable to keep pace, the Kremlin chose Gorbachev, who threw in the towel.
  • Reagan began abandoning his hard-line anti-Soviet stance in late 1983, 18 months before Gorbachev took power.
  • Reagan, who had long harbored a genuine terror of nuclear war reflected in his decades-old belief -- often ignored by backers on the right -- that nuclear weapons should eventually be abolished.
  • In 1983, two movies triggered Reagan's latent anti-nuclear views: Matthew Broderick's WarGames, which portrays a young computer hacker who almost starts a nuclear war, and ABC's The Day After, which depicts Lawrence, Kansas, in the aftermath of one.
  • According to Colin Powell, national security advisor from 1987 to 1989, Reagan had been deeply affected by the 1951 film The Day the Earth Stood Still
  • This combination of electoral and psychological anxiety led Reagan, late in his first term, to begin a dramatic rhetorical shift. Declaring that "nuclear arsenals are far too high," in January 1984 he told the country that "my dream is to see the day when nuclear weapons will be banished from the face of the Earth."
  • When they did meet in Geneva, in November, Reagan whispered to Gorbachev, "I bet the hard-liners in both our countries are bleeding when we shake hands."
  • An initial meeting scheduled for 15 minutes lasted five hours.
  • By 1988, though the Soviet Union had not yet released Eastern Europe from its grip, Reagan was explicitly denying that the Soviet Union still constituted an "evil empire" and had begun calling Gorbachev "my friend."
  • Commentary's Norman Podhoretz declared that neoconservatives were "sinking into a state of near political despair."
  • By 1984, after Reagan withdrew troops from their peacekeeping mission in Lebanon, Podhoretz moaned that "in the use of military power, Mr. Reagan was much more restrained" than his right-wing supporters had hoped.
  • In 1986, when Reagan would not cancel his second summit with Gorbachev over Moscow's imprisonment of an American journalist, Podhoretz accused him of having "shamed himself and the country" in his "craven eagerness" to give away the nuclear store.
  • Will wrote that he "is painfully fond of the least conservative sentiment conceivable, a statement taken from an anti-conservative, Thomas Paine: 'We have it in our power to begin the world over again.' Any time, any place, that is nonsense."
  • the irony is that in Reagan's own "war on terror," his policies more closely resembled Obama's than Bush's.
  • Almost five years later, in his final moments as president, he told press secretary Marlin Fitzwater that "the only regret I have after eight years is sending those troops to Lebanon." Then he saluted and walked out of the Oval Office for the last time.
  • Of course, the 9/11 attacks gave Bush a massive jolt of popularity and sent Congress diving for cover, all of which made the invasions of Afghanistan and Iraq much easier.
  • For many contemporary conservatives, being a Reagan disciple means acting as if there are no limits to American strength. But the real lessons of Reaganism are about how to wield national power and bolster national pride when your hands are partially tied.
  • That means understanding that America's foreign-policy debates are often cultural debates in disguise.
  • If Obama does not want to be Jimmy Carter, if he does not want Americans to equate his restraint with their humiliation, he must be as aggressive as Reagan in finding symbolic ways to soothe Americans' wounded pride.
  • Obama needs to remind Americans that their most successful Cold War presidents -- Reagan included -- saw the conflict as a primarily economic struggle.
  • In the nascent economic and ideological struggle between the United States and China, wars that Washington cannot possibly pay for -- and which leave the country more reliant on foreign central bankers -- don't make America stronger; they make it weaker.
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    By Peter Beinart at Foreign Policy on June 7, 2010. I have always been fascinated by the difference between perception and reality when it comes to Reagan.
anonymous

The new party of Reagan - 0 views

  • After he switched to the Republican Party in 1962, Ronald Reagan famously quipped: “I didn’t leave the Democratic Party. The party left me.”
  • At Tuesday morning’s meeting of the House Democrats, caucus chairman John Larson rallied his colleagues for the day’s debt-limit debate by playing an audio recording of the 40th president.“Congress consistently brings the government to the edge of default before facing its responsibility,” Reagan says in the clip. “This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations.”
  • Tea Party Republicans say they would sooner default on the national debt than raise taxes; Reagan agreed to raise taxes 11 times.
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  • Reagan in 1988 signed a major expansion of Medicare.
  • Republicans have continued their ritual praise of Reagan during the debt-limit fight. Rep. Trent Franks (Ariz.) claimed that the budget caps would allow America to be “that great city on a hill that Ronald Reagan spoke of.”
  • Most recently, Rep. Duncan Hunter Jr. (Calif.) called Reagan a “moderate former liberal . . . who would never be elected today in my opinion.”
  • This spring, Mike Huckabee judged that “Ronald Reagan would have a very difficult, if not impossible time being nominated in this atmosphere,” pointing out that Reagan “raises taxes as governor, he made deals with Democrats, he compromised on things in order to move the ball down the field.”
    • anonymous
       
      Holy shit. You mean he *governed*?
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    "Tea Party Republicans call a vote to raise the debt ceiling a threat to their very existence; Reagan presided over 18 increases in the debt ceiling during his presidency." Reagan was a much more complex thinker than most of us realize. I do not agree with all of his policies, but that hardly makes him an outlier president (personally). More importantly, though, he defies the assumptions that partisans have of him. It makes me want to revisit a few other Reagan bookmarks lodged in Diigo (which I scratched together over the past few years).
anonymous

Against Evil - 0 views

  • it is more likely yet another example of the refusal of liberals to acknowledge the success of Reagan's Cold War policies: first, rebuilding a disastrously diminished security establishment (diplomatic and political as well as military), then challenging the Soviet Union in a way that surely hastened the demise of the "evil empire."
  • What many of us who served in the Reagan administration do argue is that the delegitimization of the Kremlin dictators (accomplished, in part, by what Beinart calls "virulent Cold War rhetoric"), the rebuilding of American military capabilities, and a skillful arms control strategy (that eventuated in Soviet acceptance of Regan proposals they began by categorically rejecting), led to the Western victory in the Cold War.
  • Reagan barely took notice of what was an insignificant "demand" for détente.
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  • Reagan knew what he wanted and he knew how to achieve it. He was rock solid in defining -- and sticking with -- policies he believed were right. This was especially true with respect to arms control, where, often against the advice of the experts, the liberals, and much of the media, Reagan stayed the course until the Soviets gave him the agreement he wanted. 
  • What the article calls Reagan's "sudden infatuation with arms control," is pure invention. Beinart refers to the failure to conclude a U.S.-Soviet arms control treaty in Iceland in 1986 and implies that Reagan, his heart and mind changed by political expediency, had abandoned the tough policies to which he had been committed.
  • But Reagan, following his own beliefs and proceeding in his own way, achieved results no liberal foreign policy has approached -- or is likely to achieve.
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    A rebuttal against Peter Beinart's "Think Again: Ronald Reagan." By Richard Perle at Foreign Policy on July 27, 2010.
anonymous

The Obama Realignment - NYTimes.com - 1 views

  • But the lesson of the election is that the Obama coalition was truly vulnerable only to a Republican Party that took Obama seriously as an opponent – that understood how his majority had been built, why voters had joined it and why the conservative majority of the Reagan and Bush eras had unraveled.
  • In part, that failure can be blamed on their standard-bearer, Mitt Romney, who mostly ran as a kind of vanilla Republican instead of showing the imagination necessary to reinvent his party for a new era.
  • A weak nominee in many ways, he was ultimately defeated less by his own limitations as a leader, and more by the fact that his party didn’t particularly want to be reinvented, preferring to believe that the rhetoric and positioning of 1980 and 1984 could win again in the America of 2012.
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  • But even less starry-eyed conservatives — like, well, myself — were willing to embrace models of the electorate that overstated the Republican base of support and downplayed the Democrats’ mounting demographic advantage.
  • In this sense, just as Reagan Republicanism dominated the 1980s even though the Democrats controlled the House, our own era now clearly belongs to the Obama Democrats even though John Boehner is still speaker of the House.
  • That era will not last forever; it may not even last more than another four years. The current Democratic majority has its share of internal contradictions, and as it expands demographically it will become vulnerable to attack on many fronts. Parties are more adaptable than they seem in their moments of defeat, and there will come a day when a Republican presidential candidate will succeed where Mitt Romney just failed. But getting there requires that conservatives face reality: The age of Reagan is officially over, and the Obama majority is the only majority we have.
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    "2008 was also a unique political moment, when George W. Bush's immense unpopularity was compounded by a financial collapse, and when the possibility of electing the country's first black president fired the imagination of the nation (and the nation's press corps). So it was still possible to regard the Obama majority of '08 as more flukish than transformative - or at the very least, to see it as a fragile thing, easily shattered by poor choices and adverse developments."
anonymous

Four Deformations of the Apocalypse - 0 views

  • Mr. McConnell’s stand puts the lie to the Republican pretense that its new monetarist and supply-side doctrines are rooted in its traditional financial philosophy. Republicans used to believe that prosperity depended upon the regular balancing of accounts — in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism robed in the ideological vestments of the prosperous classes.
  • Once relieved of the discipline of defending a fixed value for their currencies, politicians the world over were free to cheapen their money and disregard their neighbors.
  • In fact, since chronic current-account deficits result from a nation spending more than it earns, stringent domestic belt-tightening is the only cure. When the dollar was tied to fixed exchange rates, politicians were willing to administer the needed castor oil, because the alternative was to make up for the trade shortfall by paying out reserves, and this would cause immediate economic pain — from high interest rates, for example. But now there is no discipline, only global monetary chaos as foreign central banks run their own printing presses at ever faster speeds to sop up the tidal wave of dollars coming from the Federal Reserve.
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  • The first of these started when the Nixon administration defaulted on American obligations under the 1944 Bretton Woods agreement to balance our accounts with the world.
  • The second unhappy change in the American economy has been the extraordinary growth of our public debt.
  • The third ominous change in the American economy has been the vast, unproductive expansion of our financial sector.
  • The fourth destructive change has been the hollowing out of the larger American economy. Having lived beyond our means for decades by borrowing heavily from abroad, we have steadily sent jobs and production offshore.
  • It is not surprising, then, that during the last bubble (from 2002 to 2006) the top 1 percent of Americans — paid mainly from the Wall Street casino — received two-thirds of the gain in national income, while the bottom 90 percent — mainly dependent on Main Street’s shrinking economy — got only 12 percent. This growing wealth gap is not the market’s fault. It’s the decaying fruit of bad economic policy.
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    "David Stockman, a director of the Office of Management and Budget under President Ronald Reagan, is working on a book about the financial crisis." Basically, he's saying 'sorry'. By David Stockman at The New York Times on July 13, 2010.
anonymous

Tales of the Tea Party - Readers' Comments - 0 views

  • Well, if the jury is still out on Tea Party hypocrisy, then let me make a few suggestions to those of you in the Tea Party to help you avoid being called hypocrites:1. Many Tea Party members (including some commenters here) oppose the $700 billion TARP bailouts. The Obama administration said last week that the projected total costs will come in under $50 billion, and that it could possibly make money for the government when it is fully paid back. Give the Obama administration credit for reducing the costs, and praise him if the costs reach $0 or if it pays for itself.2. After decrying the "generational theft" of deficit spending, the Tea Party seems to have no problem supporting the extension of the Bush tax cuts; even for the very wealthy. Tax cuts, were the single biggest factor adding to the deficit before the recession reduced revenues. You claim to worry about their children's futures, but they're putting their kids in debt to pay for the lifestyles of today's wealthy. Admit that at least some of the tax cuts have to go.3. If the deficit is the problem, then get serious about the defense budget. Last year defense spending costed more than social security entitlements, and more then medicare and medicaid, and far more than the stimulus or TARP. And on top of it, Americans get a very low return on their investment of tax dollars in military spending. Much of the benefit is realized directly by people in other countries who enjoy greater stability. Start supporting a downsizing of the military.4. Get off of your constitutional high horse. For a bunch of people who claim to support the Constitution, they sure were reluctant to support the First Amendment rights of Muslims who wanted to build a community center near the WTC site. Don't be so quick to anger when people are trying to exercise the freedoms that you claim to cherish so much. If you really love your freedoms, you should understand why people want to exercise theirs.5. Again, concerning the Constitution: stop picking candidates that know nothing about constitutional law. If you care so much about the Constitution, why are you listening to Sarah Palin, who could not have been more wrong when she claimed that the First Amendment protected her from criticism by the media? When running for vice president, she didn't know what the constitution said about the vice presidency. How about Christine O'Donnell, who couldn't name any recent Supreme Court cases last week? These are the people you chose to represent you and your respect for the US Constitution?6. If you want small government, then actively support same-sex marriage rights. Don't want the government telling you what to do? Then you shouldn't want the government telling you whom you can and can't marry. Small government does not regulate personal decisions about whom you spend your life with, and if you are serious about small government, then you should be out there protesting for gay marriage.7. If Congress is overstepping it's powers to regulate commerce with its healthcare mandate, then get out there and support the legalization of marijuana. Attorney General Holder recently stated that if California legalizes the sale of marijuana, then he will use federal power to prosecute marijuana users for possession of the drug. This should strike you as a gross abuse of federal power in violation of state rights. Come out against Holder's threat right now and get ready to protest if he follows through with it.8. Stop claiming that you have the Founding Fathers on your side, while assailing the educated elite. The Founders were the educated elite. They were all a part of the American Philosophical Society. Many of them were knowledgeable of physics and calculus--the cutting edge sciences of their day. Everyone knows that Benjamin Franklin was a scientist. So, stop the anti-science, anti-intellectual agenda. The Founders would never have stood for that.9. Admit it, you want another Bill Clinton. Sure, the Tea Party is nostalgic for Reagan, but he oversaw a large expansion of the deficit. Government borrowing started to decline under Bush Sr. but the deficit saw massive decline, leading to surpluses under Clinton. G. W. Bush turned those surpluses back into a gaping deficit. So, why do you vote Republican? Get over Reagan and admit that your party shouldn't have tried to impeach the most fiscally conservative president in thirty years.10. And yes, as Mr. Douthat has suggested, get serious about entitlements.
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    Some great responses to Douthat's piece about the Tea Party on October 17, 2010.
anonymous

Obama's Pyrrhic Defeat - 0 views

  • Zoom out a little. Think of this latest skirmish, that ended tonight, as part of an endgame to a thirty years' fiscal war in American politics. Reagan began it, by betting that slashing taxes would spur growth; he was right and wrong. Growth really did happen in the 1980s; but he bequeathed a debt that is with us today, and that he tried only fitfully to fix on his watch. The early 1990s saw the country draw down that deficit, by continuing Reagan's tax hikes under Bush I and then Clinton, and thanks to a peace dividend. Clinton's eventual surplus was, alas, more mirage than reality, for it hadn't solved the long-term entitlement problem or the healthcare cost problem, and was inflated by the tech bubble. Bush II comes in and wreaks havoc. He doubles down on Reagan on taxes and declares that deficits don't matter, while adding one major new entitlement, two massively expensive wars and throws in a financial collapse as a goodbye present. The result of all this was a recession that helped metastasize the debt even further. This was what Obama inherited.
    • anonymous
       
      This is actually a pretty excellent synopsis.
  • What then? I think the Grand Bargain is the final step
  • The Grand Bargain is a big entitlement-and-defense cut package balanced by higher taxes on those who have done so well during the last thirty years.
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  • What has just happened is, to my mind, therefore the following:
  • 1. The Republicans used the debt ceiling as blackmail for a big cut in discretionary spending.
  • 2. But the terms of surrender are to Obama's advantage. He has taken the nuclear weapon of the debt ceiling off the table till after the election
  • He has also made his preferred Grand Bargain more likely to happen with the terms for the super-committee.
  • He has won his own battle: he is perceived as more likely to compromise than the GOP in a country whose independent middle wants compromise.
  • If the battle of 2012 is between low taxes or high taxes, the GOP wins. But if it's fought on whether we should balance the budget solely by spending cuts, often for the elderly and needy, while asking nothing from the wealthy, then Obama wins. 
  • the drama of this deal is far greater than the actual substance
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    "So where does that leave us? It leaves us with more time without a real solution to the deepest problems. That's a huge defect in the current stop-gap deal. But it really is just a stop-gap deal. It points pretty quickly to a Grand Bargain in the super-committee, and for the first time has attached real incentives for both sides for it to work." An interesting look at this budget ceiling stuff from Andrew Sullivan. 
anonymous

David Stockman's Dystopia - 0 views

  • What's more, his perps would have to be held in separate cells, because they're of remarkably different stripes. Milton Friedman is implicated (his sin: advocating managing the money supply), but so is Paul Krugman (and of course his spiritual mentor John Maynard Keynes).  Franklin Roosevelt is on the list of "policy villains," but so is Richard Nixon, who dealt the final blow to the gold standard. Former Reagan economic advisor Art Laffer (Mr. Supply Side) is there, a few names away from Larry Summers (these days, Mr. Demand Side), who served, most recently, as Barack Obama's top economic advisor.
  • So what's the connection? I'll give you a hint: They all advocated economic interventions. They thought they could help boost growth, lower unemployment, raise revenues, stimulate investment, smooth out volatility, and so on. And, as Stockman sees it, the problem is not simply that they all failed miserably. It's that their failure has doomed America.
  • It's easy to poke fun at a rant like this, and most of it is just plain wrong (more on that in a moment). But what's more interesting is to figure out where Stockman is on target.
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  • There are, unquestionably, aspects of American capitalism that have been corrupted -- in no small part through money in politics, something Stockman vividly rails against. He's also right that the U.S. economy is seriously underperforming and bad policy is implicated. One of his hobbyhorses, crony capitalism -- a frequent target of the very progressive economist Dean Baker -- is surely holding back growth, skewing the distribution of income and wealth, and steering investment not toward its most productive uses, but to those most favored by the tax code.
  • Unfortunately, those points are not central to his argument.
  • What Stockman is most worked up about is that for almost a century, economic policymakers have ... um ... made policy, and that's led to cheap money, high indebtedness, and econo-moral turpitude.
  • Stockman insists that the market should work out its failures without all these meddlers trying to fix them (there must be "a sweeping divorce of the state and the market economy"); no government investments in industry; central banks shouldn't mess with the money supply, and so on.
    • anonymous
       
      Sigh... standard LP refrain.
  • The reader gets tons of invective against interventionists from FDR to Obama, but never a compelling explanation as to why America would have been better off if we did nothing to lessen the economic pain caused by the Great Depression or the Great Recession by applying Keynesian stimulus. Nor is there any analysis of why mainstream economics is wrong to believe, based on decades of empirical evidence from economies across the globe, that such stimulus, both fiscal and monetary, actually works.
  • Similarly, not only is there absolutely no benefit assigned to any of the Federal Reserve's actions over the years to push back on inflation and joblessness (and no question, they've made mistakes), but Stockman, with apparent ignorance of the historical record, atavistically pines for the gold standard.
  • If you want to get rid of central banks, you'd better come up with some other stabilizing mechanism a whole lot better than gold buggery. And I'm quite certain that would lead you right back to independent central banks.
  • Moreover, sovereign debt is neither bad nor good -- its assessment must be situational. Even a cursory analysis should stress that debt that's paying for inefficient health care is a serious problem. Debt that's financing productivity-enhancing public goods or temporarily offsetting a large demand contraction is a very different story.
  • Stockman never explains how a market failure such as underinvestment in such sectors would be overcome by simply not having the government help directly by subsidizing research and development or backstopping credit to offset the high risk premiums investors would otherwise demand.
  • Instead, we get a "revisionist history of our era," as he puts it, where Keynes and FDR are villains, Herbert Hoover and Calvin Coolidge heroes, gold is king, central bankers are legal counterfeiters, and debt is always evil.
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    "Why Reagan's former budget chief is like a crazy person howling in the wind. Let's ignore him."
anonymous

Anarchy and Hegemony - 0 views

  • Everyone loves equality: equality of races, of ethnic groups, of sexual orientations, and so on. The problem is, however, that in geopolitics equality usually does not work very well. For centuries Europe had a rough equality between major states that is often referred to as the balance-of-power system. And that led to frequent wars
  • East Asia, by contrast, from the 14th to the early 19th centuries, had its relations ordered by a tribute system in which China was roughly dominant. The result, according to political scientist David C. Kang of the University of Southern California, was a generally more peaceful climate in Asia than in Europe.
  • The fact is that domination of one sort or another, tyrannical or not, has a better chance of preventing the outbreak of war than a system in which no one is really in charge
    • anonymous
       
      That is quite the statement. On the surface, it *feels* true. Let's see the follow-through.
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  • Columbia University's Kenneth Waltz, arguably America's pre-eminent realist, says that the opposite of "anarchy" is not stability, but "hierarchy."
  • Hierarchy eviscerates equality; hierarchy implies that some are frankly "more equal" than others, and it is this formal inequality -- where someone, or some state or group, has more authority and power than others -- that prevents chaos. For it is inequality itself that often creates the conditions for peace.
  • Government is the most common form of hierarchy.
  • It is a government that monopolizes the use of violence in a given geographical space, thereby preventing anarchy. To quote Thomas Hobbes, the 17th century English philosopher, only where it is possible to punish the wicked can right and wrong have any practical meaning, and that requires "some coercive power."
  • The best sort of inequality is hegemony.
  • Whereas primacy, as Kang explains, is about preponderance purely through military or economic power, hegemony "involves legitimation and consensus."
  • That is to say, hegemony is some form of agreed-upon inequality, where the dominant power is expected by others to lead.
  • When a hegemon does not lead, it is acting irresponsibly.
  • hegemony has a bad reputation in media discourse.
  • But that is only because journalists are confused about the terminology, even as they sanctimoniously judge previous historical eras by the strict standards of their own. In fact, for most of human history, periods of relative peace have been the product of hegemony of one sort or another. And for many periods, the reigning hegemonic or imperial power was the most liberal, according to the standards of the age.
  • Rome, Venice and Britain were usually more liberal than the forces arranged against them.
    • anonymous
       
      I call BULLSHIT on the Rome thing. There is some strong evidence that they were quite lacking in human rights relative their northern Gaulish neighbors (which they smashed to claim their gold mines).
  • There are exceptions, of course, like Hapsburg Spain, with its combination of inquisition and conquest. But the point is that hegemony does not require tyrannical or absolutist rule.
    • anonymous
       
      I'll buy it. I remember how John Green noted that the Greek city states won a war against the Persians - who had abolished slavery and had greater rights of expression for the multiplicity of ethnicities within their borders.
  • there are few things messier in geopolitics than the demise of an empire.
  • The collapse of the Hapsburgs, of the Ottoman Turks, of the Soviet Empire and the British Empire in Asia and Africa led to chronic wars and upheavals. Some uncomprehending commentators remind us that all empires end badly. Of course they do, but that is only after they have provided decades and centuries of relative peace.
  • Obviously, not all empires are morally equivalent.
  • Therefore, I am saying only in a general sense is order preferable to disorder.
  • Though captivating subtleties abound: For example, Napoleon betrayed the ideals of the French Revolution by creating an empire, but he also granted rights to Jews and Protestants and created a system of merit over one of just birth and privilege.
  • In any case, such order must come from hierarchal domination.
  • Indeed, from the end of World War II until very recently, the United States has performed the role of a hegemon in world politics. America may be democratic at home, but abroad it has been hegemonic.
  • That is, by some rough measure of international consent, it is America that has the responsibility to lead. America formed NATO in Europe, even as its Navy and Air Force exercise preponderant power in the Pacific Basin. And whenever there is a humanitarian catastrophe somewhere in the developing world, it is the United States that has been expected to organize the response.
  • Periodically, America has failed. But in general, it would be a different, much more anarchic world without American hegemony.
  • But that hegemony, in some aspects, seems to be on the wane. That is what makes this juncture in history unique.
  • When it comes to the Greater Middle East, Americans seem to want protection on the cheap, and Obama is giving them that. 
  • We will kill a terrorist with a drone, but outside of limited numbers of special operations forces there will be no boots on the ground for Libya, Syria or any other place.
  • Richard Nixon, Ronald Reagan and George H.W. Bush were noted for American leadership and an effective, sometimes ruthless foreign policy.
  • Since the Cold War ended and Bill Clinton became president, American leadership has often seemed to be either unserious, inexpertly and crudely applied or relatively absent.
    • anonymous
       
      Yeah, that pussy Clinton, who couldn't get UN support for the Balkans and then proceeded to move through Nato. Sure, it was airstrikes and logistics, but it was no equivocal. Whether you like the action or not. ::raspberry:: [citation needed]
  • Nevertheless, in the case of the Middle East, do not conflate chaos with democracy. Democracy itself implies an unequal, hierarchal order, albeit one determined by voters. What we have in the Middle East cannot be democracy because almost nowhere is there a new and sufficiently formalized hierarchy. No, what we have in many places in the Middle East is the weakening of central authority with no new hierarchy to adequately replace it.
  • Unless some force can, against considerable odds, reinstitute hierarchy -- be it an American hegemon acting globally, or an international organization acting regionally or, say, an Egyptian military acting internally -- we will have more fluidity, more equality and therefore more anarchy to look forward to.
  •  
    "Everyone loves equality: equality of races, of ethnic groups, of sexual orientations, and so on. The problem is, however, that in geopolitics equality usually does not work very well. For centuries Europe had a rough equality between major states that is often referred to as the balance-of-power system. And that led to frequent wars. "
anonymous

Post-Tea-Party Nation - 0 views

  • while the Bush administration took wise and bold steps to correct the disaster, the unpopularity of its Troubled Asset Relief Program bequeathed the Obama administration a political disaster alongside the economic disaster.
  • If Republicans are to act effectively and responsibly, we need to learn more positive and productive lessons from the crisis.
  • Lesson 1: The danger of closed information systems.
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  • Too often, conservatives dupe themselves. They wrap themselves in closed information systems based upon pretend information. In this closed information system, banks can collapse without injuring the rest of the economy, tax cuts always pay for themselves and Congressional earmarks cause the federal budget deficit. Even the market collapse has not shaken some conservatives out of their closed information system. It enfolded them more closely within it. This is how to understand the Glenn Beck phenomenon.
  • Meanwhile, Republican officeholders who want to explain why they acted to prevent the collapse of the U.S. banking system can get no hearing from voters seized with certainty that a bank collapse would have done no harm to ordinary people.
  • Lesson 2: “The market” (the whole free-market system) must be distinguished from “the markets” (the trading markets for financial assets).
  • the intellectual right accords a deference to the wants and wishes of the financial industry that is seldom accorded to agriculture, manufacturing, transport or retailing.
  • But it’s not always true that what’s good for Goldman Sachs is good for the economy, or vice versa. Nor is what “the markets” want the same as what free-market economics require.
  • Lesson 3: The economy is more important than the budget.
  • During the recession of 1981-82, Democratic politicians demanded that a Republican president set a balanced budget as his top priority. Ronald Reagan disregarded this advice. He held firm to his tax cuts: once the economy returned to prosperity, there would be time then to deal with the deficit. Today, the positions are reversed.
  • eading voices in the Republican Party have convinced themselves that the country is on the verge of hyperinflation — a Weimar moment, says Glenn Beck. But if fiscal stimulus leads to socialism, and quantitative easing leads to Nazism, what on earth are we supposed to do? Cut the budget? But we won’t do that either! On Sean Hannity’s radio show, the Republican House leader John Boehner announced just before the election that one of his first priorities would be the repeal of the Obama Medicare cuts.
  • Lesson 4: Even from a conservative point of view, the welfare state is not all bad.
  • Social Security, unemployment insurance and other benefits were designed as anti-Depression defenses, “automatic stabilizers” as economists called them.
  • Those who denounce unemployment insurance as an invitation to idleness in an economy where there are at least five job seekers for every available job are not just hardening their hearts against distress. They are rejecting the teachings of Milton Friedman, who emphasized the value of automatic stabilizers fully as much as John Maynard Keynes ever did.
  • Lesson 5: Listen to the people — but beware of populism.
  • Non-Tea Party Americans may marvel that any group can think of itself as egalitarian when its main political goals are to cut off government assistance to the poorest and reduce taxes for the richest.
  • But American populism has almost always concentrated its anger against the educated rather than the wealthy. So much so that you might describe contemporary American politics as a class struggle between those with more education than money against those with more money than education
  • The U.S. political system is not a parliamentary system. Power is usually divided. The system is sustained by habits of cooperation, accepted limits on the use of power, implicit restraints on the use of rhetoric.
  •  
    "Republicans lost the presidency in 2008 in large part because of the worst economic crisis since World War II. Republicans have now regained the House of Representatives for the same reason. In the interval, Republicans ferociously attacked the Obama administration's economic remedies, and there certainly was a lot to attack. But the impulse to attack, it must be recognized, was based on more than ideology; it also served important psychological imperatives." By David Frum at The New York Times Idea Lab on November 12, 2010.
anonymous

Drew Westen's Nonsense - 0 views

  • Westen locates Obama's inexplicable failure to properly use his storytelling power in some deep-rooted aversion to conflict. He fails to explain why every president of the postwar era has compromised, reversed, or endured the total failure of his domestic agenda.
  • Yes, even George W. Bush and Ronald Reagan infuriated their supporters by routinely watering down their agenda or supporting legislation utterly betraying them, and making rhetorical concessions to the opposition.
  • First, Roosevelt did not take office "in similar circumstances." He took office three years into the Great Depression, after the economy had bottom out, and immediately presided over rapid economic growth (unemployment plunged from a high of 24.9% in 1933 to 14.3% in 1937.)
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  • As you can see, Roosevelt generally enjoyed broad public support despite having no success at persuading Americans to share his Keynesian view.
  • Roosevelt's fortunes are a testament to the degree to which political conditions are shaped by the state of the economy.
  • Obama took office at the cusp of a massive worldwide financial crisis that was bound to inflict severe damage on himself and his party. That he faced such difficult circumstances does not absolve him of blame for any failures. It sets the bar lower, but the bar still exists. How should we judge Obama against it?
  • I would argue that both the legislative record of 2009-2010 and Obama's personal popularity level exceed the expectation level -- facing worse economic conditions than the last two Democratic presidents at a similar juncture, Obama is far more popular than Jimmy Carter and nearly as popular as Bill Clinton, and vastly more accomplished than both put together.
  • He blames Obama for the insufficiently large stimulus without even mentioning the role of Senate moderate Republicans, whose votes were needed to pass it, in weakening the stimulus.
  • A foreign reader unfamiliar with our political system would come away from Westen's op-ed believing Obama writes laws by fiat.
  • In fact, the budget agreement does not include any entitlement cuts. It consists of cuts to domestic discretionary (i.e., non-entitlement spending.)
  • Likewise, he implies that Obama supported the undermining of the coverage expansion in his health care reform by cutting Medicaid
  • This is also totally false. The budget agreement contains no cuts to Medicaid or to state budgets. The automatic cuts that would go in effect should Congress fail to agree on a second round of deficit reduction exempt Medicaid.
  • Westen is apparently unaware, to take one example, that Obama repeatedly and passionately argued for universal coverage.
  • If even a professional follower of political rhetoric like Westen never realized basic, repeated themes of Obama's speeches and remarks, how could presidential rhetoric -- sorry, "storytelling" -- be anywhere near as important as he claims? The clear reality is that Americans pay hardly any attention to what presidents say, and what little they take in, they forget almost immediately. Even Drew Westen.
  •  
    "Westen's op-ed rests upon a model of American politics in which the president in the not only the most important figure, but his most powerful weapon is rhetoric. The argument appears calculated to infuriate anybody with a passing familiarity with the basics of political science."
anonymous

Wall Street Isn't Winning It's Cheating - 1 views

  • "Dude," I said. "These people aren't protesting money. They're not protesting banking. They're protesting corruption on Wall Street." "Whatever," he said, shrugging.
  • Think about it: there have always been rich and poor people in America, so if this is about jealousy, why the protests now? The idea that masses of people suddenly discovered a deep-seated animus/envy toward the rich – after keeping it strategically hidden for decades – is crazy.
  • Where was all that class hatred in the Reagan years, when openly dumping on the poor became fashionable? Where was it in the last two decades, when unions disappeared and CEO pay relative to median incomes started to triple and quadruple?
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  • At last count, there were 245 millionaires in congress, including 66 in the Senate.
  • And we hate the rich? Come on.
  • Success is the national religion, and almost everyone is a believer. Americans love winners.  But that's just the problem. These guys on Wall Street are not winning – they're cheating. And as much as we love the self-made success story, we hate the cheater that much more.
  • All weekend I was thinking about this “jealousy” question, and I just kept coming back to all the different ways the game is rigged. People aren't jealous and they don’t want privileges. They just want a level playing field, and they want Wall Street to give up its cheat codes, things like:
  • FREE MONEY.
  • Ordinary people have to borrow their money at market rates. Lloyd Blankfein and Jamie Dimon get billions of dollars for free, from the Federal Reserve.
  • Or the banks borrow billions at zero and lend mortgages to us at four percent, or credit cards at twenty or twenty-five percent. This is essentially an official government license to be rich, handed out at the expense of prudent ordinary citizens, who now no longer receive much interest on their CDs or other saved income.
  • Where do the protesters go to sign up for their interest-free billion-dollar loans?
  • CREDIT AMNESTY
  • This is equivalent to a trust fund teenager who trashes six consecutive off-campus apartments and gets rewarded by having Daddy co-sign his next lease. The banks needed programs like TLGP because without them, the market rightly would have started charging more to lend to these idiots. Apparently, though, we can’t trust the free market when it comes to Bank of America, Goldman, Sachs, Citigroup, etc.
  • STUPIDITY INSURANCE.
  • Defenders of the banks like to talk a lot about how we shouldn't feel sorry for people who've been foreclosed upon, because it's they're own fault for borrowing more than they can pay back
  • Time after time, when big banks screw up and make irresponsible bets that blow up in their faces, they've scored bailouts.
  • When was the last time the government stepped into help you "avoid losses you might otherwise suffer?" But that's the reality we live in. When Joe Homeowner bought too much house, essentially betting that home prices would go up, and losing his bet when they dropped, he was an irresponsible putz who shouldn’t whine about being put on the street.
  • But when banks bet billions on a firm like AIG that was heavily invested in mortgages, they were making the same bet that Joe Homeowner made, leaving themselves hugely exposed to a sudden drop in home prices. But instead of being asked to "suck it in and cope" when that bet failed, the banks instead went straight to Washington for a bailout -- and got it.
  • UNGRADUATED TAXES
  • I've already gone off on this more than once, but it bears repeating. Bankers on Wall Street pay lower tax rates than most car mechanics.
  • Bank of America last year paid not a single dollar in taxes -- in fact, it received a "tax credit" of $1 billion.
  • Thank God our government decided to pledge $50 billion of your tax dollars to a rescue of General Motors! You just paid for one of the world's biggest tax breaks.
  • GET OUT OF JAIL FREE
  • One thing we can still be proud of is that America hasn't yet managed to achieve the highest incarceration rate in history -- that honor still goes to the Soviets in the Stalin/Gulag era. But we do still have about 2.3 million people in jail in America.
  • Virtually all 2.3 million of those prisoners come from "the 99%." Here is the number of bankers who have gone to jail for crimes related to the financial crisis: 0.
  • That means that every single time a bank kicked someone out of his home, a local police department got a cut. Local sheriff's offices also get cuts of almost all credit card judgments, and other bank settlements. If you're wondering how it is that so many regional police departments have the money for fancy new vehicles and SWAT teams and other accoutrements, this is one of your answers.
  • The point being: if you miss a few home payments, you have a very high likelihood of colliding with a police officer in the near future. But if you defraud a pair of European banks out of a billion dollars  -- that's a billion, with a b -- you will never be arrested, never see a policeman, never see the inside of a jail cell.
  • The point being: we have a massive police force in America that outside of lower Manhattan prosecutes crime and imprisons citizens with record-setting, factory-level efficiency, eclipsing the incarceration rates of most of history's more notorious police states and communist countries. But the bankers on Wall Street don't live in that heavily-policed country. There are maybe 1000 SEC agents policing that sector of the economy, plus a handful of FBI agents. There are nearly that many police officers stationed around the polite crowd at Zucotti park.  These inequities are what drive the OWS protests. People don't want handouts. It's not a class uprising and they don't want civil war -- they want just the opposite. They want everyone to live in the same country, and live by the same rules. It's amazing that some people think that that's asking a lot.
  •  
    Oh, Christ, I thought. He's saying the protesters are hypocrites because they're using banks. I sighed. "Listen," I said, "where else are you going to put three hundred thousand dollars? A shopping bag?"
anonymous

Turkey's Geographical Ambition - 0 views

  • Erdogan knows that Turkey must become a substantial power in the Near East in order to give him leverage in Europe. Erdogan's problem is that Turkey's geography between East and West contains as many vulnerabilities as it does benefits. This makes Erdogan at times overreach. But there is a historical and geographical logic to his excesses.
  • Because Ottoman Turkey was on the losing side of that war (along with Wilhelmine Germany and Hapsburg Austria), the victorious allies in the Treaty of Sevres of 1920 carved up Turkey and its environs, giving territory and zones of influence to Greece, Armenia, Italy, Britain and France.
  • Turkey's reaction to this humiliation was Kemalism, the philosophy of Mustafa Kemal Ataturk (the surname "Ataturk" means "Father of the Turks"), the only undefeated Ottoman general, who would lead a military revolt against the new occupying powers and thus create a sovereign Turkish state throughout the Anatolian heartland.
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  • Gone, in fact, was the entire multicultural edifice of the Ottoman Empire.
  • Kemalism not only rejected minorities, it rejected the Arabic script of the Turkish language.
  • Kemalism was a call to arms: the martial Turkish reaction to the Treaty of Sevres, to the same degree that Putin's neo-czarism was the authoritarian reaction to Boris Yeltsin's anarchy of 1990s Russia.
  • The problem was that Ataturk's vision of orienting Turkey so firmly to the West clashed with Turkey's geographic situation, one that straddled both West and East. An adjustment was in order. Turgut Ozal, a religious Turk with Sufi tendencies who was elected prime minister in 1983, provided it.
  • In Ozal's mind, Turkey did not have to choose between East and West. It was geographically enshrined in both and should thus politically embody both worlds. Ozal made Islam publicly respected again in Turkey, even as he enthusiastically supported U.S. President Ronald Reagan during the last phase of the Cold War.
  • Ozal used the cultural language of Islam to open the door to an acceptance of the Kurds.
  • there were many permutations in Islamic political thought and politics in Turkey between Ozal and Erdogan, but one thing stands clear: Both Ozal and Erdogan were like two bookends of the period.
  • Remember that in the interpretation of one of the West's greatest scholars of Islam, the late Marshall G.S. Hodgson of the University of Chicago, the Islamic faith was originally a merchants' religion, which united followers from oasis to oasis, allowing for ethical dealing.
  • In Islamic history, authentic religious connections across the Middle East and the Indian Ocean world could -- and did -- lead to wholesome business connections and political patronage. Thus is medievalism altogether relevant to the post-modern world.
  • Turkey may be trying its best to increase trade with its eastern neighbors, but it still does not come close to Turkey's large trade volumes with Europe, now mired in recession.
  • The root of the problem is partly geographic.
  • Turkey constitutes a bastion of mountains and plateau, inhabiting the half-island of the Anatolian land bridge between the Balkans and the Middle East. It is plainly not integral to a place like Iraq, for example, in the way that Iran is; and its Turkic language no longer enjoys the benefit of the Arabic script, which might give it more cultural leverage elsewhere in the Levant. But most important, Turkey is itself bedeviled by its own Kurdish population, complicating its attempts to exert leverage in neighboring Middle Eastern states.
  • The de facto breakup of Iraq has forced Turkey to follow a policy of constructive containment with Iraq's Kurdish north, but that has undermined Turkey's leverage in the rest of Iraq -- thus, in turn, undermining Turkey's attempts to influence Iran.
  • Turkey wants to influence the Middle East, but the problem is that it remains too much a part of the Middle East to extricate itself from the region's complexities.
  • Erdogan knows that he must partially solve the Kurdish problem at home in order to gain further leverage in the region. He has even mentioned aloud the Arabic word, vilayet, associated with the Ottoman Empire. This word denotes a semi-autonomous province -- a concept that might hold the key for an accommodation with local Kurds but could well reignite his own nationalist rivals within Turkey.
  •  
    "At a time when Europe and other parts of the world are governed by forgettable mediocrities, Recep Tayyip Erdogan, Turkey's prime minister for a decade now, seethes with ambition. Perhaps the only other leader of a major world nation who emanates such a dynamic force field around him is Russia's Vladimir Putin, with whom the West is also supremely uncomfortable."
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