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intrade closing prices graph
Intrade closing prices... where's the bounce?
Stephen Pearlstein isn't directly looking at the GOP support for balloon and confetti manufacturers, but in a way he's looking at the real heart of this election in a survey of works on modern capitalism.
A dozen Labor Days — and three presidential elections — ago, the world was in the thrall of American-style capitalism. Not only had it vanquished communism, but it was widening its lead over Japan Inc. and European-style socialism.
So what happened three elections ago to give capitalism indigestion? Well, first it involved kicking democracy in the balls and shoving in Mr. CEO President who delivered a near perfect checklist of conservative ideology. Lower taxes on the rich? Done. Capital gains tax cuts? Even done-er. Knock down regulations put in place to save capitalism the last time it went into an autocannibalistic fit? The done-est. Be free, little market capitalism, be free! Oh, and conservative bonus points for starting two massive "we'll show you who's boss" star-spangled wars. So what did we get from this conservative wet dream?
Today, that economic hegemony seems a distant memory. We have watched the bursting of two giant financial bubbles, wiping out the paper wealth many of us thought we had in our homes and retirement accounts. We have suffered through two long recessions and a lost decade of income growth for the average family. We continue to rack up large trade and budget deficits. Virtually all of the country’s economic growth and productivity gains have been captured by the top 10 percent of households, while moving up the economic ladder has become more difficult. And other countries are beginning to turn to China, Germany, Sweden and even Israel for lessons in how to organize their capitalist economies.
Um. Yeah. And before anyone strikes up the "but Bush ran up huge debts, so he wasn't a real conservative" band, note that everything, everything, Bush did was strictly from the conservative handbook, the one that promised if we did all these things, the nation would grow so quickly that we could strike the word "debt" from the dictionary. Looking through the current crop of economic authors, Pearlstein finds several prescriptions for what's ailing capitalism.
Although the Republican spin machine reflexively took entrepreneurial umbrage at Obama’s notion that it takes a village to create a successful company, each of the books reviewed here essentially embraces the idea. A pure market economy is an ideological fantasy; even the freest markets operate in a framework of laws, infrastructure, institutions and informal norms of behavior in which government is heavily implicated. Our challenge is in getting that framework right.
Of course, if you look hard enough, you can still find the intellectual underpinnings for more conservatism. Such as
Edward Conard, who makes the intriguing argument that there never was a credit bubble or a housing bubble, that large and persistent trade deficits are a sign of economic strength, that booms and busts are a good thing, and that what we really need is more income inequality, not less.
Well, at least we can be sure that no one this crazy will be taken seriously. Right?
It is unlikely that anyone would be giving Conard’s fantasies a moment’s thought but for the fact that he was a Romney collaborator at Bain Capital in the 1990s and that he set up a front company last year to give $1 million to a super PAC supporting Romney. In “Unintended Consequences,” Conard contends that the past decade and a half was a golden era for American capitalism. ... The only way to recapture that golden era of high growth, low unemployment and booming stock markets, Conard suggests, is to eliminate all taxes on the very rich so they can make even more investments in new ideas and innovative new companies.
Are we very sure that conservatism isn't a plot by the American Psychological Association to drum up business? It makes more sense than Conard's "economics."

Meanwhile, there was something that happened this week. Something I can't quite remember. Wasn't there some kind of party? I kind of remember some old guy, rambling incoherently. His name was Mike, no Mitt, no Clint, no... Hmm. Anyway.

David Maraniss gives Republicans a little heads-up. A second term President Obama is likely to deliver what Republicans fear most.

For all of his other characteristics — his unease about schmoozing, his writer’s sensibility as a participant observer, what some misinterpret as aloofness — the essence of Obama as a candidate is that of a confident jock... He thrives on competition and does not shrink from it. ...

But if he wins a second term, the Obama I expect to emerge will more closely follow the lines of his 2004 speech. The right wing has made a cottage industry out of portraying him as a shape-shifter, trained by socialists, whose true leftist ideology will come out in a second term. His history points in the opposite direction. As a young man negotiating the shoals of race in America, as president of the Harvard Law Review, as a lecturer in constitutional law at the University of Chicago and as a state senator in Springfield, his instincts were to search for common ground. It has proved harder in the White House than anywhere he had been before, and there is no guarantee it would be any easier during a second term. But that is where he sees greatness, and that is what will drive him.

Returning the president to office will begin to heal the divided nation and restore faith in government. And really, that is why Republicans are quaking.

The Miami Herald has some advice for the President going into the home stretch.

By all means, Mr. Obama should defend his record. There’s nothing wrong with bragging about getting bin Laden. It ain’t bragging if it’s true. He inherited a recession deeper than any since the Great Depression, and by any measure the economy is stronger today than it was in 2008, when 4.4 million jobs were lost during President Bush’s last year in office, according to the Bureau of Labor Statistics. And, yes, his task has been made immeasureably harder by the unprecedented level of obstruction from congressional Republicans, whose leader in the Senate said his priority was to ensure Mr. Obama did not get a second term.

But there has to be more to a presidential campaign than blaming the other guys for everything. Americans are looking for someone who can inspire a sense of purpose and optimism, precisely what Mr. Obama did last time around but has failed to deliver lately.

Americans don’t need to be told over and over who’s to blame for the nation’s political paralysis. They get it. That’s why Congress’ popularity ratings are so low. But Mr. Obama has not done a good job of communicating what he would do differently in a second term to make sure that the next four years are not like the last four. That’s what skeptical voters want to hear.

Even big supporters, say like guys who just this week kicked in more cash and who got up at 4AM to read opinion pages, would still like to get an fresh clarion call to national purpose.

Maureen Dowd remembers that thing I forgot already.

The stage show looked like America, but the convention hall did not. The crowd seemed like the sanctuary of a minority — economically wounded capitalists in shades from eggshell to ecru, cheering the man from Bain and trying to fathom why they’re not running the country anymore. The speakers ranted about an America in decline, but the audience reflected a party in decline.
Nicholas Kristof looks at some of the beachheads the GOP has already secured in the war on women.
If an American woman in uniform is raped and becomes pregnant, Congress bars Tricare military insurance from paying for an abortion.

If an American woman in the Peace Corps becomes pregnant, Congress bars coverage of an abortion — and there is no explicit exception even if she is raped or her life is in danger.

When teenagers in places like Darfur, Congo or Somalia survive gang rapes, aid organizations cannot use American funds to provide an abortion.

Ross Douthat is increasingly just hard to read.
But if Romney does win, his studied vagueness and generic Republican rhetoric may leave him with much more room to maneuver in office than either the left or right currently expects.

On the left, it’s an article of faith that the Republican nominee is effectively a hostage to the most ideological elements in his party, and that he’ll be forced to march in lock step with them even if his own instincts suggest a different path.

Among conservatives, the choice of Paul Ryan persuaded many Romney doubters that the candidate has definitively embraced the Congressional Republican agenda as his own.

Both assumptions may be wrong. Of course a President Romney would have to operate within the broad framework of conservatism. But the left probably understates how much power he would have to shape and even redefine that framework, and how invested his fellow Republican officeholders (as opposed to movement activists) would be in making his first term a success.

See, just because Romney has been giving into the crazies on his own party, bows to the slightest pressure, and has generally been a reliable weathervane for two decades, you have no idea what Romney will do if he's elected and he doesn't have to answer to anyone. And that's... a good thing?


David Rothkopf
notes that it's not just Bush policies coming back, it's the whole fun-loving Bush team.

The rehabilitation of Rice is just part of a broader restoration of the Bush brand and of those who worked with our 43rd president. Fewer than four years after George W. Bush left office, his team members are back in high places...

Particularly striking is the degree to which Bush 43 foreign policy players have assumed leading roles in shaping policy for Romney. John Bolton, Bush’s U.N. ambassador and an especially combative member of the neoconservative contingent so closely linked with that administration, has been part of Romney’s inner circle throughout the year.

Cofer Black, a former top executive at the Bush-era security contractor once called Blackwater, is a top adviser to Romney on intelligence issues, shaping his views on subjects such as interrogations of terrorism suspects. And Dan Senor, who was a top official in the Coalition Provisional Authority in Iraq in the year after the invasion, is now at the right hand of vice presidential nominee Paul Ryan.

So it appears that Romney doesn't just want to repeat the lower taxes on the rich formula from the Bush years, he also intends to challenge for the record on how many times National Guard troops can be deployed overseas.

Weird things we do, may be related.

In Curious Behavior, neuroscientist Robert Provine discusses common yet seemingly strange actions, such as crying, tickling and yawning - subjects often overlooked by science. Beyond explaining how each of these actions work anatomically, Provine explores their functions, similarities and whether they might be linked by some higher, social purpose.
What I want to know is why when I sneeze in public, I get a "bless you," but when I cough, I get scowled at. Seems just unfair. Anti-cough bigotry!  

But I suppose there are worse things.

The most fascinating chapters involve descriptions of what happens when these behaviours become extreme. Take the 1962 outbreak of contagious laughter in Tanganyika, now Tanzania, which affected around a thousand people over several years. Then there is the story of a woman with an itch so severe she scratched through to her brain in her sleep.
Remind me to wear a football helmet to bed.

Originally posted to Devil's Tower on Sun Sep 02, 2012 at 04:48 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  Already diaried... (4+ / 0-)
    Recommended by:
    mdmslle, koNko, annieli, palantir

    Please delete.

    :-)

  •  I write about the Kristof column (8+ / 0-)

    in a just posted piece I titled Nicholas Kristof takes on Republicans over abortion, to which I invite your attention.

    Peace.

    "what the best and wisest parent wants for his child is what we should want for all the children of the community" - John Dewey

    by teacherken on Sun Sep 02, 2012 at 05:01:04 AM PDT

  •  The Wilderness beckons GOP..... (5+ / 0-)

    ..........'Americans don’t need to be told over and over who’s to blame for the nation’s political paralysis. They get it. That’s why Congress’ popularity ratings are so low.'..........2010....the rethugs surely screwed that one up.

  •  "Weird things we do, may be related." (9+ / 0-)

    The 1st Amendment gives you the right to say stupid things, the 1st Amendment doesn't guarantee a paycheck to say stupid things.

    by JML9999 on Sun Sep 02, 2012 at 05:09:07 AM PDT

  •  It seems like such a simple message. (15+ / 0-)

    What in life doesn't require regulation? I'd like to see the Dems turn the "Don't feel bad, you gave Obama a chance" message right back on them. "You gave the Republicans 30 some years but it just didn't pan out for the working class. The super rich took all the money. Just like they always have".  

    We're fools whether we dance or not, so we might as well dance.

    by PowWowPollock on Sun Sep 02, 2012 at 05:10:20 AM PDT

    •  I'd like to see a series of former (7+ / 0-)

      Republicans talking about their disappointment with the party. More in sorrow than in anger. Let folks know that it has moved beyond the pale.

      "We have created a Star Wars civilization, with Stone Age emotions, medieval institutions, and godlike technology."-Edward O. Wilson, in "The Social Conquest of Earth"

      by sparkysgal on Sun Sep 02, 2012 at 05:58:37 AM PDT

      [ Parent ]

    •  And taxes (9+ / 0-)

      When will the Dems start explaining that when the tax rates were high for the wealthy and corporations that they invested in their companies to offset taxes. Creates robust manufacturing and good jobs.  The way it is now?  Hey, let's just sock our billions into offshore accounts.....

      "If fighting for a more equal and equitable distribution of the wealth of this country is socialistic, I stand guilty of being a socialist." Walter Reuther

      by fugwb on Sun Sep 02, 2012 at 06:39:03 AM PDT

      [ Parent ]

      •  Reason for no corporate investment? (0+ / 0-)

        No demand.  Exports are rising, but domestic demand lags, as individuals and families work to pay off debt built up since their wages stagnated back in the '70s and '80s.

        Until Geithner agrees that forcing the holders of residential mortgages to take a haircut on principal as well as mortgage interest is the only stimulus that will be big enough to raise aggregate demand  (without raising the federal debt), we'll be stuck with the slow, halting economic recovery we have now.

        My prescription:  fire Edward Demarco, acting director of Fannie and Freddie unless he agrees to a principal haircut (moral hazard be damned), and fire Geithner if he doesn't threaten to fire Demarco and mean it.

        "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

        by SueDe on Sun Sep 02, 2012 at 07:44:25 AM PDT

        [ Parent ]

    •  have some fun and invite a winger to explain (2+ / 0-)
      Recommended by:
      MyMy, Amber6541

      why it was a Gilded Age they hark back to and not a Golden Age.  Most of the wingers do not even realize what gilt is unless you make them look it up

  •  top adviser to Romney on intelligence issues (3+ / 0-)
    Recommended by:
    Bob Love, annieli, Amber6541

    The 1st Amendment gives you the right to say stupid things, the 1st Amendment doesn't guarantee a paycheck to say stupid things.

    by JML9999 on Sun Sep 02, 2012 at 05:11:48 AM PDT

    •  Accountability for Iraq (4+ / 0-)
      Recommended by:
      JML9999, ybruti, wintergreen8694, Just Bob

      This was a problem with a previous invasion of Iraq, by the British in World War I.

      Kipling wrote:

      Shall we only threaten and be angry for an hour:
      When the storm is ended shall we find
      How softly but how swiftly they have sidled back to power
      By the favour and contrivance of their kind?

      •  Mesopotamia (1+ / 0-)
        Recommended by:
        guavaboy

        http://www.poemhunter.com/...

        Mesopotamia

        They shall not return to us, the resolute, the young,
        The eager and whole-hearted whom we gave:
        But the men who left them thriftily to die in their own dung,
        Shall they come with years and honour to the grave?

        They shall not return to us; the strong men coldly slain
        In sight of help denied from day to day:
        But the men who edged their agonies and chid them in their pain,
        Are they too strong and wise to put away?

        Our dead shall not return to us while Day and Night divide--
        Never while the bars of sunset hold.
        But the idle-minded overlings who quibbled while they died,
        Shall they thrust for high employments as of old?

        Shall we only threaten and be angry for an hour:
        When the storm is ended shall we find
        How softly but how swiftly they have sidled back to power
        By the favour and contrivance of their kind?

        Even while they soothe us, while they promise large amends,
        Even while they make a show of fear,
        Do they call upon their debtors, and take counsel with their
        friends,
        To conform and re-establish each career?

        Their lives cannot repay us--their death could not undo--
        The shame that they have laid upon our race.
        But the slothfulness that wasted and the arrogance that slew,
        Shell we leave it unabated in its place?

        Rudyard Kipling

        Others have simply gotten old. I prefer to think I've been tempered by time.

        by Just Bob on Sun Sep 02, 2012 at 07:53:01 AM PDT

        [ Parent ]

  •  Douthat simply expresses the cynicism (20+ / 0-)

    underlying the entire modern Republican coalition. "Sure, we'll tell the great unwashed what they want to hear during the campaign, we'll lie about basic truths and fundamental principles, but don't worry. Once we get elected, we'll hover like grown-ups!"

    Sorry, Ross. We've heard it before, and we're not buying.

    Give me your tired, your poor, Your huddled masses yearning to breathe free
    ¡Boycott Arizona!

    by litho on Sun Sep 02, 2012 at 05:11:59 AM PDT

    •  Calling the rethugs the Merician Taliban is an (4+ / 0-)
      Recommended by:
      JML9999, litho, pgm 01, Amber6541

      insult to the Taliban........At least they're honest.

    •  don't forget this is a strategic fight for the GOP (3+ / 0-)
      Recommended by:
      litho, pgm 01, Amber6541

      They quit being the majority party some time ago and now bank on the electoral votes of a few key states where they think they can suppress enough votes

    •  He is also very lacking in understanding Romney (3+ / 0-)
      Recommended by:
      thomask, Minnesota Deb, Amber6541

      either purposely or because he really does not get it.  Romney's situational beliefs are predicated on getting what he wants out of a situation.  He needs the right in order to become President so he molds himself in their image to get what he wants.  As President his first goal will be to get a second term, which will mean sucking up to the base as well as paying off the debts from his billionaire benefactors.  That means he will have little to no room to maneuver, he will have to go full tilt to the right especially since he has to overcome the belief, even from his base, that he is flip-flopper.  

  •  No sign of a heartbeat, doctor. (7+ / 0-)

    The Iowa Electronic Market shows a flatline for the Republican vote share all the way through the convention to now.
    http://iemweb.biz.uiowa.edu/...

    It is time for the Democrats to present a convention of real people with real hearts living in a real world.


    The difference between stupidity and genius...genius has limits. ~ Einstein

    by jim in IA on Sun Sep 02, 2012 at 05:17:57 AM PDT

  •  nt (24+ / 0-)
    "The modern conservative is engaged in one of man’s oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness."

    – John Kenneth Galbraith

    White-collar conservatives flashing down the street, pointing their plastic finger at me..

    by BOHICA on Sun Sep 02, 2012 at 05:19:05 AM PDT

  •  Edward Conard soulmate of (8+ / 0-)

     Glenn "L. Ron" Hubbard

    Me thinks Glenn forgot to carry a minus sign in his calculations which means the Romney Plan will destroy 12 Million American jobs.....

    http://thinkprogress.org/...

    Romney Economic Advisers Predicted Bush Tax Cuts Would Lead To Huge Job Growth

    Mitt Romney and his economic advisers have spent the week claiming that Romney’s economic plan will create 12 million jobs, as they attempt to change the subject away from a Tax Policy Center report showing that Romney’s tax plan would mean a big tax increase for middle-class families.

    A Center for American Progress Action Fund analysis shows that, far from creating 12 million jobs, Romney’s economic plan would kill 360,000 jobs in 2013 alone. But this discrepancy is perhaps less surprising considering that the same advisers who gave Romney his number — including economists Greg Mankiw and Glenn Hubbard, who both worked for former President George W. Bush — estimated that the Bush tax cuts would lead to massive job growth:

       Back in 2001, as chairman of President Bush’s Council of Economic Advisers, Hubbard predicted that tax cuts slanted disproportionately to Americans in the topmost tier of income and wealth distribution would “quickly deliver a boost to move the economy back toward its long-run growth path,” starting with adding 300,000 more jobs and half a percentage point to the 2002 growth rate.

        Then in early 2003, as President Bush proposed another round of tax cuts, Hubbard predicted these would add another 1.4 million jobs to the U.S. economy, over and above the 3.1 million jobs the economy would create on its own from natural economic growth in that time. Mankiw — who took over for Hubbard as chairman of the Council of Economic Advisers later in 2003 — co-signed a letter with Hassett (then-economist at the American Enterprise Institute) to President Bush “enthusiastically” endorsing more tax cuts because “it is fiscally responsible and it will create more employment [and] economic growth.”

        Unfortunately for American workers, these rosy predictions failed to pan out. In fact, total employment in the U.S. economy created only 2.4 million new jobs by the end of 2004, or less than half of what Hubbard predicted. By 2007 the economy was running nearly 8 million jobs short of what Hubbard predicted.

    http://thinkprogress.org/...

    The 1st Amendment gives you the right to say stupid things, the 1st Amendment doesn't guarantee a paycheck to say stupid things.

    by JML9999 on Sun Sep 02, 2012 at 05:21:27 AM PDT

    •  Mankiw gives voodoo economics a bad name (2+ / 0-)
      Recommended by:
      pgm 01, JML9999

      he should at least have enough intellectual integrity to cherry pick the data to make his point; these days it seems he is pulling stuff straight out of his posterior as if GWB's election severed all connections between him and reality

  •  While I fully support returning the president to (9+ / 0-)

    office, I am unconvinced that it will "will begin to heal the divided nation and restore faith in government". Particularly if Mr. Obama goes back to putting bi-partisanship as a higher priority than fix the country's economy. One really hopes he finally realizes that there is no common ground with the modern-day Republican Party. If he has not learned this lesson, his 2nd term will be a disaster.

    If there is no accountability for those who authorized torture, we can no longer say that we are a nation of laws, not men.

    by MikePhoenix on Sun Sep 02, 2012 at 05:22:41 AM PDT

    •  America needs electro-shock......not a cold shower (2+ / 0-)
      Recommended by:
      mdmslle, Amber6541

      and a bible.

    •  that was a scary thought altogether. (6+ / 0-)

      that this president would go back into a second terms trying to make nice with fools is the most depressing, de-motivational thing I've heard all week.

      For the record, I am not a member of Courtesy Kos. Just so you know. Don't be stupid. It's election season. My patience is short.

      by mdmslle on Sun Sep 02, 2012 at 05:40:22 AM PDT

      [ Parent ]

      •  Exactly. My hope is he learned his (8+ / 0-)

        lesson the past 4 years, and will continue down the path he seems to have taken since the debt raising debacle last year. I like campaign Obama.

        I don't mind bi-partisanship when it's 50-50. The republican approach of 90-10, is what doesn't work for me.
        Being the party in power, it should be more 60-40, 65-35, when a party controls 2 of the 3 levers of power.

        My biggest fear, is what Obama and the dems will do to s/s and medicare in the name of austerity.

        I know it will better than the republicans by a long shot, but there are still too many dems who are willing to do way more than is necessary, in the name of keeping the money flowing into Wall St pockets.

        I am hoping Obama will draw some lines in the sand during the convention.

        Today's problems are yesterday's solutions. Don Beck

        by Sherri in TX on Sun Sep 02, 2012 at 06:09:36 AM PDT

        [ Parent ]

        •  The problem with cutting SS & Medicare (1+ / 0-)
          Recommended by:
          Amber6541

          is that the cuts that save the government money, regardless of where that money goes (flowing into Wall Street, etc.), does not mean the money won't need to be spent.  The jobs of these programs (funding retirement and health care for seniors) will still need to be done.

          The problem with the federal government's refusal to spend the money is that such spending then falls on the shoulders of individuals and families.  That additional spending on the individual level, necessary as it will become, will devastate families.  The suffering will be incalculable.

          There aren't very many people left alive who lived in the days before Social Security.  Seek out and talk to some of those people.  It's an eye-opening experience and a cornucopia of food for thought.

          "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

          by SueDe on Sun Sep 02, 2012 at 07:14:25 AM PDT

          [ Parent ]

    •  Ref: Clinton's second term as a model (1+ / 0-)
      Recommended by:
      Amber6541

      I do not know what issue the GOP will seize upon but be assured they will start impeachment proceedings immediately after the Inauguration

    •  We need to win down ticket (3+ / 0-)
      Recommended by:
      Minnesota Deb, Amber6541, MikePhoenix

      We have to parley the GOP meltdown into a trifecta: national, state and local.

      People have to keep asking GOP candidates why they are on board with their odious platform. Make them defend it.

  •  Just in time for Halloween (5+ / 0-)

    the list of Romney's foreign policy advisers.

  •  I don't give a shit: (8+ / 0-)
    "Returning the president to office will begin to heal the divided nation and restore faith in government."
    More important than these niceties is taxing carbon emissions, deeply funding the cleanest energy sources, financing geo-engineering plans and creating a fair tax structure.

    Save the planet, save the economy. If these are not our topmost priorities, America needs to be replaced.

    "I was a big supporter of waterboarding" - Dick Cheney 2/14/10

    by Bob Love on Sun Sep 02, 2012 at 05:27:40 AM PDT

  •  Screw reaching out to the GOP (4+ / 0-)

    They made a mess and then screamed how badly Obama was doing cleaning it up. AND they refused to help or take responsibility. NO, the priority is to get people working and start addressing major issues like climate change.

    The Spice must Flow!

    by Texdude50 on Sun Sep 02, 2012 at 05:38:14 AM PDT

  •  I think the Miami Herald OpEd is spot on (5+ / 0-)

    I would like Obama in his speech to mainly focus on what he wants to do the next 4 years and ways he is going to achieve it.

    I would also like more inspiration which is what Obama does best.

    I am a 110% supporter of President Obama and even I want Obama to focus more on the next 4 years and not the last 4 years.

    However, I have a feeling that is exactly what Obama will do in his speech since Axelrod bashed Romney for not telling America what he wants to do if he becomes president.

    President Obama, January 9, 2012: "Change is hard, but it is possible. I've Seen it. I've Lived it."

    by Drdemocrat on Sun Sep 02, 2012 at 05:39:26 AM PDT

  •  Capitalists killed capitalism (16+ / 0-)

    There can often be a symbiotic relationship between the parasite and the host. But beginning with Reagan 30 years ago the parasite began to grow stronger and to weaken the host. The balance was lost.

    Now the host is dying (or on its knees) and the parasite keeps wanting more. The parasite has gotten so addicted to the high living that it can not fathom giving the host a break for a while.

    Observant capitalists would realize that they need to change, but there seem to very few of them around these days, so the outlook is grim (for the capitalists). It is far more likely that a new host will arise that will devour the old, and with it the existence of the parasite.

    In the world I work in I have seen the players slowly kill the stock market. It is now, to any objective observer, almost dead (the facebook IPO being perhaps the final gasp). They have gamed every pico second, every 1 thousandth of a cent to the maximum. The regular investors have all left the field leaving only algorithms to devour other algorithms.

    It is a shame. Bridled capitalism is actually a rather effective system, but unbridled capitalism simply ends up devouring itself.

    Those who make peaceful revolution impossible will make violent revolution inevitable. - JFK

    by taonow on Sun Sep 02, 2012 at 05:43:27 AM PDT

  •  I do agree with the Miami Herald (4+ / 0-)
    Recommended by:
    DRo, desert rain, PorridgeGun, EcosseNJ

    People likely to vote for Obama or swayed to do so do understand he got handed a bag of shit and that Romney would dump on middle class heads.

    What they need i to be motivated to get off their asses to get out to vote and a bit of the vision thing would be helpful.

    Hope to see that start Tuesday.

    What about my Daughter's future?

    by koNko on Sun Sep 02, 2012 at 05:46:54 AM PDT

  •  The Republican War on Community (25+ / 0-)

    Amazing how far they have moved from any notion of civic responsibility, the common good, the general welfare.  Everyone is the enemy.  They have so little sense of belonging, of trust in others and in themselves that they must carry concealed weapons and pass laws to control and compel a false morality.  A nation at permanent war that exalts the sanctity of life, while watching millions of children starve.

    I'm tired.
    I'm glad I'm nearing the end of my life.

    I can’t decide who’s cuter – the dead guy with the arrows in his chest, or the guy in the ditch with the seeping wound. -- Game of Thrones (Heard on Set)

    by prodigal on Sun Sep 02, 2012 at 05:51:27 AM PDT

  •  George Lakoff says (5+ / 0-)

    that Workers are the profit creators.  Corporations can profit only if people work for them.

    Remember, you can't have crazy without az.

    by Desert Rose on Sun Sep 02, 2012 at 05:54:37 AM PDT

  •  "Capitalism" is Republican dog whistle (2+ / 0-)
    Recommended by:
    Mark Sumner, wintergreen8694

    for Feudalism.  That's the direction they want to take us.

    http://www.facebook.com/pages/Hellgate-Harmonie/209982112375428

    by triebensee on Sun Sep 02, 2012 at 05:59:44 AM PDT

    •  The only people who hear that dog whistle (0+ / 0-)

      are other capitalists.  Republican workers don't hear it at all.  To them, refusing to give free rein to their bosses means endangering their jobs.  These Republicans are so afraid of change that slavery to them would mean job security.

      "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

      by SueDe on Sun Sep 02, 2012 at 07:21:31 AM PDT

      [ Parent ]

  •  Wealth doesn't trickle down (1+ / 0-)
    Recommended by:
    wintergreen8694

    What trickles down is feces.

    If you give more wealth to the extremely wealthy, it just stays there, more concentrated, in a more unequal society. Tax cuts for the rich destroy the middle class and create tyranny.

  •  Besides letting the conservatives take over the (2+ / 0-)
    Recommended by:
    wintergreen8694, Amber6541

    party, they allowed them to shun everyone, everything else.
    You can not get into power by just banging your own drum, you have to reach out and bring others into your tent. you don't need everyone but you need others.

    it is this method of operating that has the Republicans in disarray.
    The Wall Street Republicans don't really care about the social issues that are the life blood of the conservative religious zealots.

    I see a divorce in the marriage of these two factions, just don't know when it will take place, or how many elections they will lose till they realize it.

    •  The GOP cannot seem to fathom why it is so (1+ / 0-)
      Recommended by:
      Amber6541

      sad when they parade out their token minorities to prove they are the party of diversity

    •  I see no reason to believe (1+ / 0-)
      Recommended by:
      Amber6541

      that Wall Street Republicans who control the party would not allow passage of laws supporting the rank and file in those "social issues" since the moneyed interests don't care about them anyway.  I don't think wealthy Republicans would stand in the way of limiting women's health care or choice, or punishing welfare recipients, or any other social issue, as long as capitalism weren't hampered by regulation and their taxes were further lowered.

      After all, money inoculates the rich from being affected by social constraints.

      "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

      by SueDe on Sun Sep 02, 2012 at 07:30:43 AM PDT

      [ Parent ]

  •  On the Intrade charts, what time is closing price? (0+ / 0-)

    For Wall St, the closing bell is 4:00pm Eastern; what time is the close for Intrade?

    •  Perhaps this is the answer (1+ / 0-)
      Recommended by:
      Just Bob

      I found this in the Intrade Rules ...

      Trading hours, during which orders to buy or sell shares may be entered and matched, are normally from 8:45am until 8:00am the following morning Irish time (EST +5 hours)
      So I'm guessing that in the Intrade chart posted in the diary, the closing price on Thursday, August 30, was at 3:00AM Eastern Thursday morning, and thus would reflect events of the Republican convention on Wednesday night, and Ryan's speech, but no events on Thursday.  The Friday close would reflect Romney's speech and the convention's finale.  And the Saturday close would reflect the Friday post-convention discussions on cable news and other media outlets.

      Does that sound right?

  •  Romney twitter bounce is over, too (4+ / 0-)
    Recommended by:
    Egalitare, annieli, Just Bob, Amber6541

    "Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." - Groucho Marx

    by Greg Dworkin on Sun Sep 02, 2012 at 06:40:17 AM PDT

  •  The Mad Max Economy (1+ / 0-)
    Recommended by:
    pgm 01

    If you do not have government to help than

    even the freest markets operate in a framework of laws, infrastructure, institutions and informal norms of behavior
    ... will look like Thunderdome.

    Help! The GOP is NUTS (& the Dems need some!)

    by Tuba Les on Sun Sep 02, 2012 at 06:45:02 AM PDT

  •  Want to argue economics with a winger? (6+ / 0-)

    Ask him what the ideal capitalistic society looks like and he will wax rhapsodic over a landscape filled with Mom & Pops and happy workers toiling away.

    Ask him then if the board game Monopoly is a fair representation of how Capitalism works (trick question because if he says no, ask how to prevent monopolies w/o government intervention or how to have competition w/o federal oversight) If he says yes, point out the whole purpose of the game is to put all the other players out of the game and for one person to end up with all the money.
    Their Galtian brains explode  

  •  Conservatives always credit the tech boom... (1+ / 0-)
    Recommended by:
    Amber6541

    ....for the clinton economy.

    Always seemed like a stretch for me.

    First of all, we've had plenty of stock market booms since then that have done no job creation.

    Second, web startups aren't exactly known as employment engines.

    If Obama didn't get Bin Laden because he didn't pull the trigger; then Bin Laden didn't take down the World Trade Center because he didn't fly the planes.

    by Bush Bites on Sun Sep 02, 2012 at 07:09:23 AM PDT

  •  Conservative economist is an oxymoron. n/t (1+ / 0-)
    Recommended by:
    MyMy

    If Obama didn't get Bin Laden because he didn't pull the trigger; then Bin Laden didn't take down the World Trade Center because he didn't fly the planes.

    by Bush Bites on Sun Sep 02, 2012 at 07:13:34 AM PDT

  •  lol there is a market for psychotics as well (1+ / 0-)
    Recommended by:
    Amber6541
    Are we very sure that conservatism isn't a plot by the American Psychological Association to drum up business? It makes more sense than Conard's "economics."

    Don't roof rack me bro', Now the brown's comin' down; Präsidentenelf-maßschach; "Nous sommes un groupuscule" (-9.50; -7.03) "Ensanguining the skies...Falls the remorseful day".政治委员, 政委‽ Warning - some snark above ‽

    by annieli on Sun Sep 02, 2012 at 07:15:30 AM PDT

  •  Please, stop. (5+ / 0-)

       

    Returning the president to office will begin to heal the divided nation and restore faith in government. And really, that is why Republicans are quaking.
    I want to keep the President in office as much as anybody, but saying you can "heal this divided nation" is a fallacy.

    We're either going to break up or one side's going to beat the other.

    If Obama didn't get Bin Laden because he didn't pull the trigger; then Bin Laden didn't take down the World Trade Center because he didn't fly the planes.

    by Bush Bites on Sun Sep 02, 2012 at 07:16:43 AM PDT

  •  I expect a harder edged Obama in 2013 (2+ / 0-)
    Recommended by:
    Minnesota Deb, Amber6541

    He doesn't have to worry about either him or getting Biden elected President so I think he'll be much more confrontational with the GOP. Some knock down confrontations with the GOP would most likely further hurt their brand and without doing an equal amount of damage to the Democratic brand.

    -1.63/ -1.49 "Speaking truth to power" (with snark of course)!

    by dopper0189 on Sun Sep 02, 2012 at 07:24:32 AM PDT

  •  Bless you! (1+ / 0-)
    Recommended by:
    Amber6541
    What I want to know is why when I sneeze in public, I get a "bless you," but when I cough, I get scowled at.
    I'm the 'scowler', but only if you do not cover your mouth when coughing.
    To be fair, I scowl when people don't cover their mouths when sneezing, too.

    Have been seeing more and more people coughing in public without covering their mouths and these are adults.

    Saw a woman the other day eating a piece of fried chicken in the grocery store while choosing produce and she set the piece of chicken down on the fruit - ewwww for transferring her spit onto the fruit and she was coughing without covering her mouth.
    Very unsanitary and needless to say, I skipped what she was buying and scowled at her.

    These are things that keep me awake at night!

  •  Pearlstein lost me when he shoved "Israel".... (2+ / 0-)
    Recommended by:
    Minnesota Deb, Mark Sumner

    ....among the current economic learn-from countries.

    In those same 12 years, Israel has become an even wetter conservative-neocon dream.

    With Netanyahu at the helm - first as finance minister and then as PM, the Israeli state has gone on a binge of privatizations, social-safety-net slashing, and a corrupt oligarcho-economy that rivals the worst seen in the Third World.

    The former government has seen two of its ministers, and its PM (Olmert), convicted of personal corruption. The current government is even more corrupt, but... it is the current govt. so it's not going to court just yet. Especially charming are the development in news media. A "newspaper" established in 2007 by none other than... Sheldon Adelson has become the largest print daily, with the former 2nd largest Maariv now going bust (daily print edition to stop in October), and the former largest Yediot also reeling. The Adelson rag "Israel Hayom" functions mainly as a pro-Netanyahu propaganda outlet far worse than anything Fox News has ever done.

    Over the past few years, life in Israel has become unaffordable even to upper-middle-class youngsters, unless they happen to work in hi-tech or finance. Has Pearlstein not been around last year when nearly a million Israelis took to the streets?

    The one thing Israel has to brag about is that the world crisis has been barely felt as a blip there. But no one - believe me, NO ONE, and I have asked around - no one has a good explanation for it. The best explanation is some combination of super-risky bets that have not yet gone bad, with corrupt accounting at the state level. Or possibly an even worse well-kept secret.

    I'm sorry, Pearlstein, don't name-drop a country you evidently are clueless about, to gain some unspecified brownie points. Your long article got ruined for me. And I sincerely hope no one gets deluded into taking lessons from Israel's current economy. Heavens no.

  •  Gesundheit! & Bless You! (1+ / 0-)
    Recommended by:
    Amber6541
    What I want to know is why when I sneeze in public, I get a "bless you," but when I cough, I get scowled at.
    My understanding of this is that it harkens back to the days of the Plague in Europe.  Sneezing was one of the early symptoms of the onset of the disease therefore the response of "bless you" or Gesundheit" was wishing health to the sickly.

    ..most profound moments of my life...the last few -- And, for Global COOLING, if it's man-made and doesn't move, paint it WHITE!

    by tristan57 on Sun Sep 02, 2012 at 07:53:50 AM PDT

  •  Also, will Romney's relationship with Netanyahu (2+ / 0-)
    Recommended by:
    Minnesota Deb, Amber6541

    also spell a redo of W's Iraq's WMD on a grander misadventure scale. Although not discussed, I suggest it is fair to question whether Romney's long and close relationship with Israel Prime Minister Benjamin Netanyahu will unduly subject America to undertaking Israel's call for enforcing a clear red line on Iran.

  •  These Guys! (2+ / 0-)
    Recommended by:
    Minnesota Deb, Amber6541

    http://www.youtube.com/...

    This is should go viral!

    A man's character is his destiny.

    by Jaleh on Sun Sep 02, 2012 at 08:18:00 AM PDT

  •  "conservative" in the title (3+ / 0-)
    Recommended by:
    Minnesota Deb, Amber6541, Mark Sumner

    I wish media would stop using "conservative" to describe a group that is increasingly radical and extreme.

    Paul Craig Roberts is a conservative.

    Romney is a money-grubbing chameleon alien-squid

    Preaching to the choir, I know. But still - maybe we can not use "conservative"which isn't descriptive of these angry hating thieving liars

  •  Best.Abbreviated.Pundit.Ever! (1+ / 0-)
    Recommended by:
    MyMy

    Well done, Mark!  I don't know where to start, the brilliant Dowd quote

    The stage show looked like America, but the convention hall did not. The crowd seemed like the sanctuary of a minority — economically wounded capitalists in shades from eggshell to ecru, cheering the man from Bain and trying to fathom why they’re not running the country anymore. The speakers ranted about an America in decline, but the audience reflected a party in decline.
    I'm not sure what color ecru is but it's probably not black.  And that Conrad stuff
    Edward Conard, who makes the intriguing argument that there never was a credit bubble or a housing bubble, that large and persistent trade deficits are a sign of economic strength, that booms and busts are a good thing, and that what we really need is more income inequality, not less.
    Even though I'm cynical about American's collective IQ, I don't think even they are going to buy this line of horse puckey.

    The only thing I'd add is already on DKos about Paul Ryan's pathological lying on his marathon times. I'm waiting for Joe Biden during their debate to ask Mr. Ryan to explain how he managed to take ONE HOUR off his best time in the 26 365 yd run?

    If you haven't read it, do.

    Great stuff, Mark! Keep it coming.

    Time is an enormous, long river, and I’m standing in it, just as you’re standing in it. My elders are the tributaries, and everything they thought and every struggle they went through & everything they gave their lives to flows down to me-Utah Phillips

    by TerryDarc on Sun Sep 02, 2012 at 09:39:06 AM PDT

  •  Back to booty capitalism (0+ / 0-)

    Amazing, but true. The conservatives turned the clock all the way back to before 'rational capitalism' to the booty capitalism that Max Weber says pre-dated rational capitalism and that had to be rooted out for capitalism to flourish...

  •  David, I wish the Bush team HAD gone away. (0+ / 0-)

    But they didn't.  And that's one of my great complaints against Obama.  He kept on many of the same Bush people instead of rooting out the rot as I had hoped he would.  The gophering of the GOP in the last days of Bush wasn't challenged, and Bush stalwarts like Bernanke were reappointed.  Many of the new appointments were the same type of Goldman Sachs clones.  The legal requirement to investigate war crimes was illegally blown off in order to protect the corrupt and keep the peace.  "Moving forward," it was called, when it was really just consolidating the Republican damage through timid inaction.

    So Condi's being rehabilitated by the Republicans?  She should have been testifying in court about just how much she knew about "enhanced interrogation" years ago.  No wonder she's rehabilitated.  The Democrats did half the work (or non-work) for her.

  •  This, from the Miami Herald, DOES have a ring (1+ / 0-)
    Recommended by:
    Amber6541

    to it:

    But Mr. Obama has not done a good job of communicating what he would do differently in a second term to make sure that the next four years are not like the last four. That’s what skeptical voters want to hear.
    With some caveats... If we were, by some amazing work, to recapture the house and keep the senate, then we really could get some things done provided President (not Mr.) Obama used his bully pulpit within our own party (and outside of it).

    If we lose the senate, but keep the house, we are in dark territory.

    If we lose both the house and senate, but keep the presidency, we are in very, very dark territory.

    Apparently, even the Herald seems to believe that whomever is president both makes and signs the laws.

    They do, however, have a good point in there that he does need to really be clear about what he wants to do in the next four years. I will be listening, cuz I know what I want to hear.

    Of course, the president will get my vote, but I need to know he has a very strong and well articulated agenda. And an aggressive one.

    In the meantime, much of the new healthcare law will kick in and we will have two years to see how that is working out. I really look forward to that.

    202-224-3121 to Congress in D.C. USE it! You can tell how big a person is by what it takes to discourage them. "We're not perfect, but they're nuts."--Barney Frank 01/02/2012

    by cany on Sun Sep 02, 2012 at 11:53:16 AM PDT

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