The Daily Dozen
- The idiot's guide to Pakistan.
- Car Dealer in Chief?
- Record drop in index of home prices.
- The benefit of turning your computer off might not be worth the cost?
- Skype debuts on the iPhone.
- The New Jersey AG forces eHarmony to roll out a gay matchmaking service.
- Tyler Cowen explains systematic risk: "If your banks are less risky, often something else is more risky, and vice versa."
- $35 buys you 25% less scrolling on a netbook. Sounds like money well spent to me!
- Stretched nerve 'bridges' creates a scaffold for nerve tissue regeneration.
- 5 tips to add years to your life.
- Consolidation of power: “For quite a while, but especially over the last nine months, the best way to predict developments in politics and finance has been to ask: what will do the most to increase the concentration of power? Every headline, from the Geithner regulatory plan to the proposed cap on the charitable deduction, to the resignation of the General Motors CEO, should be viewed in that light.”
- Quote of the Day: "When I'm working on a problem, I never think about beauty. I think only how to solve the problem. But when I have finished, if the solution is not beautiful, I know it is wrong." -- R. Buckminster Fuller
2 comments:
I like that quote from Buckminster Fuller.
As to the concentration of power quote...hmmm. That quote seems to be a rather simplistic analysis.
Was it a move to consolidate power that the Obama administration has ended the shameful practice of torture by the US? Was it a move to consolidate power that we've developed a plan to remove most troops from Iraq and abandoned this mentality of solving all problems through military force?
Isn't it wonderful that we've replaced this arrogant attitude that the US can go it alone and that all other countries are just second rate fools, with one that respects other nations and seeks diplomacy and cooperation? I think that's seeking far less raw and abusive power.
The Obama DOJ is already operating a far more ethical level than it did under the Bush administration; I'd say we've gained far greater freedom. In fact the DOJ under Bush was another stain on our history.
As to regulations...yes, regulations, like all laws, imply a power of the govt. But not all laws or regulations are bad. Would people feel threatened by regulations on credit default swaps? And wouldn't a regulation that required more transparency in mortgages to consumers actually enhance consumer protection and choice?
I know this is an extreme example, but I have heard some extreme conservatives argue that Lincoln should have never fought the Civil War to save the Union or freed the slaves, because that too represented a "consolidation of power."
As to the GM CEO, the Obama administration had the guts to do what the wimpy board of GM would not do for years: oust a failed CEO. What was a shocking consolidation of power was that this CEO and his cronies on the board were able to remain in control of such a large company, even though the record was years of failure.
What has been a shocking consolidation of power, as well as wealth, has been that these corporate execs have been able to reward themselves with such huge compensation regardless of their record of results.
And I doubt if the workers of GM would feel more free if they all lost their jobs.
When Teddy Roosevelt dissolved monopolistic corporations and became known as the "trust buster" was that an unacceptable "consolidation of power" or was that a viable protection of the public interest?
So this consolidation of power meme is rather predictable line of attack.
What we've had these past years has been more akin to a 3rd world type of crony capitalism, and it's good if we bid that goodbye.
Besides, the Dow has been going up, and according to some, that is the ultimate measure, or at least was, when the market was going down and could be used as an attack line against Pres Obama.
If Obama really has guts, he'll take on the UAW. I'm not holding my breath on that one.
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