Financial Markets, Politics and the New Reality
: "Louis M. Bacon is the head of Moore Capital Management, one of the largest and most influential hedge funds in the world. Last week, he announced that he was returning one quarter of his largest fund, about $2 billion, to his investors, [saying] it is impossible to make money when there is heavy political involvement, because political involvement introduces unpredictability in the market… Adam Smith and David Ricardo, who modern investors so admire, [never] used the term "economics" by itself, but only in conjunction with politics; they called it political economy… The investors' problem is that they mistake the period between 1991 and 2008 as the norm and keep waiting for it to return."
posted by the mad poster!
on Aug 9, 2012 -
will list 90 reasons, a day at a time over the next 90 days, on why you should vote for Barack Obama in November. Today was the first.
posted by Isadorady
on Aug 8, 2012 -
"I was upset because the political consultants and staff were talking about voter suppression and keeping blacks from voting. It had been one of those days,'' - Jim Greer
, former state party chair of the Florida G.O.P, in a deposition for his lawsuit against the party. Scott Horton at Harper's covers
the NYT's pox-on-both-your-houses story
on vote suppression
posted by crayz
on Aug 2, 2012 -
"[T]he corrupting influence of money is the first problem facing this nation. That unless we solve this problem, we won’t solve anything else... The Framers, Lessig says, had just one kind of dependence in mind for members of Congress: a dependence on the people. He quotes The Federalist (the then-anonymous essays by Alexander Hamilton, James Madison, and John Jay that are often used as a contemporary account of the Framers’ intentions) to make this point: number 52 describes the House of Representatives as that “branch of the federal government which ought to be dependent on the people alone” (emphasis added).
But in the last two decades, Lessig writes, members of Congress have developed a fearsome dependency: campaign cash. The total amount spent on campaigns by all candidates for Congress in 2010 was $1.8 billion. Fundraising has become a way of life..." (via 3 Quarks Daily)
posted by caddis
on Aug 1, 2012 -
During the presentation of tough new austerity measures at the Spanish parliament, and more specifically of a cut in unemployment benefits (with unemployment currently standing at 24%), and as her fellow conservative MPs clapped, Andrea Fabra yelled "Fuck 'em all!"
. Hilarity has predictably ensued
... [more inside]
posted by Skeptic
on Jul 13, 2012 -
Back in December American Conservative talked about The Changing state of War
One of the most discouraging aspects of the current Republican presidential candidate debates is the discussion of drone warfare, or rather the fact that it is not being discussed at all except to approve of the practice.
Tom Junod of Esquire now discusses in a long article
the targeted killing of an American citizen Anwar al-Awlaki. [more inside]
posted by adamvasco
on Jul 11, 2012 -
Would you like to get an anonymous phone call from a stranger who is diametrically opposed to your own political views? Sure, we all do. Now, Political Screaming Match Dot Com
is here to help, and can solve this age-old problem in 15 minutes or less.
posted by schmod
on Jun 29, 2012 -
In less than an hour, the Supreme Court will hand down its final judgment in what has become one of the most crucial legal battles of our time: the constitutionality of President Obama's landmark health care reform law.
The product of a strict party line vote following a
of debate, disinformation
, and tense legislative wrangling, the Affordable Care Act
would (among other popular reforms
) require all Americans to buy insurance coverage by 2014, broadening the risk pool
for the benefit of those with pre-existing conditions.
The fate of this "individual mandate," bitterly opposed by Republicans despite its similarity to past plans touted by conservatives
(including presidential contender Mitt Romney
) is the central question facing the justices today
. If the conservative majority takes the dramatic step
of striking down the mandate, the law will be toothless, and in danger of wholesale reversal, rendering millions uninsured
, dealing a crippling blow to the president's re-election hopes, and possibly endangering the federal regulatory state
But despite the pessimism of bettors
, some believe
the Court will demur, wary of damaging
its already-fragile reputation
with another partisan 5-4 decision
. But those who know don't talk, and those who talk don't know
. Watch the SCOTUSblog liveblog
for updates, Q&A, and analysis as the truth finally comes out shortly after 10 a.m. EST.
posted by Rhaomi
on Jun 28, 2012 -
Following junior Treasury minister Chloe Smith's disastrous
performance on Newsnight regarding the Chancellor's u-turn on fuel duty, the New Statesmen presents the top
posted by fearfulsymmetry
on Jun 27, 2012 -
The prime minister
has suggested that people under the age of 25 could lose the right to housing benefit, as part of moves to cut the welfare bill.
Scrapping the benefit for that age group would save almost £2bn a year.
via BBC News. Comments sortable and worth reading. [more inside]
posted by marienbad
on Jun 24, 2012 -
In Praise of Leisure
- "Imagine a world in which most people worked only 15 hours a week. They would be paid as much as, or even more than, they now are, because the fruits of their labor would be distributed more evenly across society. Leisure would occupy far more of their waking hours than work. It was exactly this prospect that John Maynard Keynes conjured up in a little essay published in 1930 called 'Economic Possibilities for Our Grandchildren
.' Its thesis was simple. As technological progress made possible an increase in the output of goods per hour worked, people would have to work less and less to satisfy their needs, until in the end they would have to work hardly at all... He thought this condition might be reached in about 100 years — that is, by 2030." (via
) [more inside]
posted by kliuless
on Jun 22, 2012 -
"Dwarfing even the $2 trillion borrowed for the Railway Ministry’s high-speed networks since 2008, and the thousands of kilometres of 4–6 lane toll roads with barely a vehicle on them, China’s building binge is the most striking example of what Prime Minister Wen Jiabao famously, but impotently, denounced in 2007 as the country’s “unbalanced, unstable, uncoordinated and unsustainable” model of economic development. Now, with house prices and sales sagging in response to government restrictions aimed at deflating history’s biggest ever property bubble, and with local governments as deep in bad debt as the developers, I asked the businessman what was to prevent the bubble actually bursting
, in a spectacular financial explosion? "
posted by vidur
on Jun 21, 2012 -
In the wake of their grunge-y breakout hit "Creep"
and the success of sophomore record The Bends
, Thom Yorke and the rest of Radiohead
were under pressure to deliver once more.
So they shut themselves away inside the echoing halls of a secluded 16th century manor
and got to work.
What emerged from that crumbling Elizabethan castle fifteen years ago today was a shockingly ambitious masterpiece of progressive rock, a visionary concept album that explored the "fridge buzz" of modernity
-- alienation, social disconnection, existential dread, the impersonal hum of technology
-- through a mosaic of challenging
, eerily beautiful
music unlike anything else at the time.
Tentatively called Ones and Zeroes
, then Your Home May Be at Risk If You Do Not Keep Up Payments
, the band finally settled on OK Computer
, an appropriately enigmatic title for this acclaimed
harbinger of millennial angst. For more, you can watch the retrospective OK Computer: A Classic Album Under Review
for a track-by-track rundown, or the unsettling documentary Meeting People is Easy
for a look at how the album's whirlwind tour nearly gave Yorke a nervous breakdown
. Or look inside for more details and cool interpretations of all the tracks -- including an upcoming MeFi Music Challenge! [more inside]
posted by Rhaomi
on Jun 16, 2012 -