March 22nd, 2008
Paul Krugman reminds us of the lessons we’ve forgotten since 1929 — the time of the “Great Depression”:
The financial crisis currently under way is basically an updated version of the wave of bank runs that swept the nation three generations ago. People aren’t pulling cash out of banks to put it in their mattresses — but they’re doing the modern equivalent, pulling their money out of the shadow banking system and putting it into Treasury bills. And the result, now as then, is a vicious circle of financial contraction.
Mr. Bernanke and his colleagues at the Fed are doing all they can to end that vicious circle. We can only hope that they succeed. Otherwise, the next few years will be very unpleasant — not another Great Depression, hopefully, but surely the worst slump we’ve seen in decades.
October 5th, 2007
It’s so great to have access to Paul Krugman’s columns once more. To read what I’m talking about, here’s a taste of what had been missing from the blogsphere since the NY Times put its columnist behind a paid firewall (which, luckily, is no more):
In 1960, John F. Kennedy, who had been shocked by the hunger he saw in West Virginia, made the fight against hunger a theme of his presidential campaign. After his election he created the modern food stamp program, which today helps millions of Americans get enough to eat.
But Ronald Reagan thought the issue of hunger in the world’s richest nation was nothing but a big joke. Here’s what Reagan said in his famous 1964 speech “A Time for Choosing,” which made him a national political figure: “We were told four years ago that 17 million people went to bed hungry each night. Well, that was probably true. They were all on a diet.”
Today’s leading conservatives are Reagan’s heirs. If you’re poor, if you don’t have health insurance, if you’re sick — well, they don’t think it’s a serious issue. In fact, they think it’s funny.
[...]
Before the last election, the actor Michael J. Fox, who suffers from Parkinson’s and has become an advocate for stem cell research that might lead to a cure, made an ad in support of Claire McCaskill, the Democratic candidate for Senator in Missouri. It was an effective ad, in part because Mr. Fox’s affliction was obvious.
And Rush Limbaugh — displaying the same style he exhibited in his recent claim that members of the military who oppose the Iraq war are “phony soldiers” and his later comparison of a wounded vet who criticized him for that remark to a suicide bomber — immediately accused Mr. Fox of faking it. “In this commercial, he is exaggerating the effects of the disease. He is moving all around and shaking. And it’s purely an act.” Heh-heh-heh.
[...]
Mark Crispin Miller, the author of “The Bush Dyslexicon,” once made a striking observation: all of the famous Bush malapropisms — “I know how hard it is for you to put food on your family,” and so on — have involved occasions when Mr. Bush was trying to sound caring and compassionate.
By contrast, Mr. Bush is articulate and even grammatical when he talks about punishing people; that’s when he’s speaking from the heart.
[...]
So once again, if you’re poor or you’re sick or you don’t have health insurance, remember this: these people think your problems are funny.
March 29th, 2005
As the author points out below, in contemporary America we’re adverse at confronting extremists and don’t belive that our homegrown fundementalists present a danger; however, as you’ll read below, at the very least, the exploitation of Mrs. Shiavo’s tragedy should serve as a warning to pay attention.
March 29, 2005
What’s Going On?
By PAUL KRUGMAN
Democratic societies have a hard time dealing with extremists in their midst. The desire to show respect for other people’s beliefs all too easily turns into denial: nobody wants to talk about the threat posed by those whose beliefs include contempt for democracy itself.
We can see this failing clearly in other countries. In the Netherlands, for example, a culture of tolerance led the nation to ignore the growing influence of Islamic extremists until they turned murderous.
But it’s also true of the United States, where dangerous extremists belong to the majority religion and the majority ethnic group, and wield great political influence.
Before he saw the polls, Tom DeLay declared that “one thing that God has brought to us is Terri Schiavo, to help elevate the visibility of what is going on in America.” Now he and his party, shocked by the public’s negative reaction to their meddling, want to move on. But we shouldn’t let them. The Schiavo case is, indeed, a chance to highlight what’s going on in America.
One thing that’s going on is a climate of fear for those who try to enforce laws that religious extremists oppose. Randall Terry, a spokesman for Terri Schiavo’s parents, hasn’t killed anyone, but one of his former close associates in the anti-abortion movement is serving time for murdering a doctor. George Greer, the judge in the Schiavo case, needs armed bodyguards.
Another thing that’s going on is the rise of politicians willing to violate the spirit of the law, if not yet the letter, to cater to the religious right.
Everyone knows about the attempt to circumvent the courts through “Terri’s law.” But there has been little national exposure for a Miami Herald report that Jeb Bush sent state law enforcement agents to seize Terri Schiavo from the hospice – a plan called off when local police said they would enforce the judge’s order that she remain there.
And the future seems all too likely to bring more intimidation in the name of God and more political intervention that undermines the rule of law.
The religious right is already having a big impact on education: 31 percent of teachers surveyed by the National Science Teachers Association feel pressured to present creationism-related material in the classroom.
But medical care is the cutting edge of extremism.
Yesterday The Washington Post reported on the growing number of pharmacists who, on religious grounds, refuse to fill prescriptions for birth control or morning-after pills. These pharmacists talk of personal belief; but the effect is to undermine laws that make these drugs available. And let me make a prediction: soon, wherever the religious right is strong, many pharmacists will be pressured into denying women legal drugs.
[...]
The closest parallel I can think of to current American politics is Israel. There was a time, not that long ago, when moderate Israelis downplayed the rise of religious extremists. But no more: extremists have already killed one prime minister, and everyone realizes that Ariel Sharon is at risk.
America isn’t yet a place where liberal politicians, and even conservatives who aren’t sufficiently hard-line, fear assassination. But unless moderates take a stand against the growing power of domestic extremists, it can happen here.
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