Good news

San Juan, Puerto Rico

Hopefully the Senate won’t shoot it down:

The House on Thursday passed legislation to tackle Puerto Rico’s debt crisis, as Congress took a large step towards addressing the economic and humanitarian crisis enveloping the island.

The carefully crafted compromise passed 297-127, earning majorities in both parties.

The passage of the carefully crafted compromise is a significant win for Speaker Paul Ryan (R-Wis.), who was an early and active supporter of the legislation, and Minority Leader Nancy Pelosi (D-Calif.) and the White House, which also pushed the package.

In a rare move, both Ryan and Pelosi took to the House floor to urge support for the legislation, shooting for broad bipartisan support to encourage speedy action through the Senate.

Ryan made a moral case for the bill, arguing that the island’s 3.5 million residents — who are American citizens — need Congress’s support.

“The Puerto Rican people are our fellow Americans. They pay our taxes. They fight in our wars,” he said. “We cannot allow this to happen.”

The bill now heads to the Senate, where lawmakers appear lukewarm about the measure. Still, there is little evidence senators are eager to remake the bill wholesale, particularly as conditions on the island continue to worsen.

Dear NBC News: It’s Time For A Talk About Mrs. Greenspan

Here’s a little something I wrote back in 2013 that still applies:

“I don’t care if you fuck an elephant, just so long as you don’t cover the circus.” — Abe Rosenthal, with a quote made famous after he fired a New York Times reporter who was sleeping with one of her sources.

It boils down to this: We can’t trust her.

I thought about this yesterday when I read this post from Paul Krugman:

Steven Pearlstein reads Alan Greenspan’s new book, and discovers that Greenspan believes that he bears no responsibility for all the bad things that happened on his watch — and that the solution to financial crises is, you guessed it, less government.

What Pearlstein doesn’t mention, but I think is important, is Greenspan’s amazing track record since leaving office — a record of being wrong about everything, and learning nothing therefrom. It is, in particular, more than three years since he warned that we were going to become Greece any day now, and declared the failure of inflation and soaring rates to have arrived already “regrettable.”

The thing is, Greenspan isn’t just being a bad economist here, he’s being a bad person, refusing to accept responsibility for his errors in and out of office. And he’s still out there, doing his best to make the world a worse place.

We live in a political world where, no matter what she does, Hillary Clinton is treated as a mere clone of her husband — yet Andrea Mitchell is a detached Consummate Professional whose marriage to the man who helped crash the economy has nothing to do with anything. We are supposed to take her word for it, because she would tell us if it wasn’t true. (Kind of like Ginni and Clarence Thomas, right?)

While the Beltway “journalists” never do like to acknowledge these things, one of the Washington Post editors did when he reviewed the recent book about inside D.C. called “This Town”:

First, there is longtime NBC news reporter Andrea Mitchell — a conflict of interest in human form. Married to former Federal Reserve chairman Alan Greenspan, Mitchell has specialized in covering administrations and campaigns that “overlapped considerably with her social and personal habitat,” as Leibovich puts it.

There are those weekend getaways at George Shultz’s home. And dinner with Tipper and Al. And that surprise 50th-birthday party for Condi. And what do you do when you’re reporting on the 2008 financial crisis and many people are pointing at your husband as a chief culprit? NBC tossed up a fig leaf: allowing Mitchell to cover the politics of dealing with the financial crisis, but not the conditions that gave rise to it. Such hair-splitting becomes inevitable, Leibovich writes, because Mitchell trying to avoid conflicts of interest is “like an owl trying to avoid trees.”

If I can be excused for mixing metaphors, there’s not only an elephant in the control room, Andrea Mitchell is fucking him.

This is not her only conflict of interest. (*cough* Scooter Libby *cough*) But it’s the most obvious one.

Does this affect her job? You tell me. She regularly purses her lips and demands that the Adults In The Room do their job and cut Granny’s Social Security and Medicare, which is right in line with what her husband, Ayn Rand’s former boy toy, has been peddling for decades and believes with all his free-market heart.

Now, it’s fine for a wife to agree with her husband — as long as she doesn’t have a job that presents her as an honest broker to the American public.

I’m not the first person to notice this. (Read here, here, here, here and here.) It’s that most of these people were only complaining about her covering the financial crisis, when I think it goes much deeper. Our media culture is so intertwined with the interests of power, it would take an ax to untangle that Gordian knot.

When Andrea Mitchell keeps pushing the same anti-Social Security agenda espoused by her husband for so many years (or even worse, going right along with the many, many lies parroted on her show), it’s fair for viewers to ask: For whose interests does she advocate? Certainly not ours.

One of the reasons we have such lousy representation is that journalists who identify with the elite simply refuse to do their jobs. Maybe if NBC News did theirs, they wouldn’t be losing so many young viewers to… a comedy channel.

‘Skills mismatch,’ huh?

Job and Community Resource Fair

During the worst of the recession, employers demanded workers with multiple skill sets because they wanted to replace two workers with one. Now they’re bitching:

In a separate report, the National Federation of Independent Business said small businesses continued to report a shortage of qualified workers to fill job openings, with some saying they had either raised or planned to increase wages to attract and retain employees.

The share of small businesses reporting job openings they could not fill jumped in April, revisiting cycle highs. There was also an increase in the proportion of small business owners saying that the quality of labor was their biggest concern.

“With labor market slack diminishing, we expect to see a marked acceleration in wage growth soon,” said Steve Murphy, a U.S. economist at Capital Economics in Toronto.

In March, the number of unemployed job seekers per open job, a measure of labor market slack, was little changed at 1.38.

Professional and business services job openings increased 124,000 in March. There were also gains in transportation, warehousing and utilities, and nondurable goods manufacturing. Job openings decreased 80,000 in retail trade. There were declines in educational services and wholesale trade.

Greece sentenced to death

By new EU austerity measures:

During the debate, opposition parties argued pension cuts and tax hikes would prove recessionary, dealing another blow to a population fatigued by years of austerity.

“The measures will be a tombstone for growth prospects,” said Kyriakos Mitsotakis, leader of the conservative New Democracy party which leads in opinion polls.

Tsipras was re-elected in September on promises to ease the pain of austerity for the poor and protect pensions after he was forced to sign up to a new bailout in July to keep the country in the euro zone.

Monday’s reforms are part of a package that aims to generate savings equivalent to 3 percent of GDP, raising income tax for high earners and lowering tax-free thresholds.

It increases a ‘solidarity tax’ and introduces a national pension, while phasing out benefits for poor pensioners.

New Mexico State Workers Denied Food Assistance To Families With Less Than $100 In Assets

Hatch Peppers at H-E-B

Don’t kid yourself. This is happening in every state now:

Five New Mexico state workers admitted last week that they denied food assistance to needy families after being pressured by superiors. According to KTRK, five workers at the state’s Human Services department told a federal court that they falsified records to claim that families applying for food assistance had more than $100 in assets When the… Continue reading “New Mexico State Workers Denied Food Assistance To Families With Less Than $100 In Assets”

The secret shame of middle-class Americans

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I think we all relate; so many people who are struggling like this. Nearly half of Americans would have trouble finding $400 to pay for an emergency:

I know what it is like to have to juggle creditors to make it through a week. I know what it is like to have to swallow my pride and constantly dun people to pay me so that I can pay others. I know what it is like to have liens slapped on me and to have my bank account levied by creditors. I know what it is like to be down to my last $5—literally—while I wait for a paycheck to arrive, and I know what it is like to subsist for days on a diet of eggs. I know what it is like to dread going to the mailbox, because there will always be new bills to pay but seldom a check with which to pay them. I know what it is like to have to tell my daughter that I didn’t know if I would be able to pay for her wedding; it all depended on whether something good happened. And I know what it is like to have to borrow money from my adult daughters because my wife and I ran out of heating oil.

You wouldn’t know any of that to look at me. I like to think I appear reasonably prosperous. Nor would you know it to look at my résumé. I have had a passably good career as a writer—five books, hundreds of articles published, a number of awards and fellowships, and a small (very small) but respectable reputation. You wouldn’t even know it to look at my tax return. I am nowhere near rich, but I have typically made a solid middle- or even, at times, upper-middle-class income, which is about all a writer can expect, even a writer who also teaches and lectures and writes television scripts, as I do. And you certainly wouldn’t know it to talk to me, because the last thing I would ever do—until now—is admit to financial insecurity or, as I think of it, “financial impotence,” because it has many of the characteristics of sexual impotence, not least of which is the desperate need to mask it and pretend everything is going swimmingly. In truth, it may be more embarrassing than sexual impotence. “You are more likely to hear from your buddy that he is on Viagra than that he has credit-card problems,” says Brad Klontz, a financial psychologist who teaches at Creighton University in Omaha, Nebraska, and ministers to individuals with financial issues. “Much more likely.” America is a country, as Donald Trump has reminded us, of winners and losers, alphas and weaklings. To struggle financially is a source of shame, a daily humiliation—even a form of social suicide. Silence is the only protection.

Collateral damage

Felisja

I can’t believe only one of my friends has called herself since the recession. A few of them are still teetering:

Numerous studies have found a strong connection between right-wing economic policies and suicide.

Recent research from sociologists David Stuckler and Sanjay Basu, for example, found that suicide rates in both the US and UK increase when working class wages and wealth decline. Things were particularly bad during the recession period here in the US when, according to the study’s authors, there were 4,750 “excess” suicides.

Another study, this time out of Australia, discovered a similar pattern in that country. It found that almost 35,000 extra suicides occurred when the “Tories” (Australian slang for right-wingers) controlled the government.

This isn’t just something that happens in the English-speaking world, either.

When right-wing austerity policies began to ravage Greece in 2010, the suicide rate jumped almost 18 percent. In Athens alone, it soared to 25 percent.

The same thing happened in Russia after the fall of the Soviet Union. In a rush to switch the former communist country over to the free market, economists forced it go through shock doctrine-style privatization. The result was a sharp rise in suicides, heart attacks and alcohol deaths.

Obviously, right-wing economic policies don’t cause every suicide. Some people kill themselves because they have already-existing mental health problems. Others kill themselves because of the shock of sudden personal tragedy.

But even so, there’s no question that right-wing economic policies, otherwise known as Reaganomics, worsen these problems.

Hamilton star explains Puerto Rico’s debt crisis

Hamilton, live in NY today. Who knew rap was the format I needed to learn history! Thx Lin-Manuel Miranda

Puerto Rico is in dire financial straits. They are facing a monumental $70 billion debt. BILLION. John Oliver explained in the below clip from Sunday’s Last Week Tonight that Puerto Rico can’t file for bankruptcy due to an unexplainable, tiny provision in a 1984 law. Oliver said: “We need to stop treating Puerto Rico like it’s… Continue reading “Hamilton star explains Puerto Rico’s debt crisis”