Posts Tagged ‘inflation’
Lost in January Links
* Out now: Extrapolation Volume 62.3 explores the representation of cyborgs in Pat Cadigan’s Synners, care in Gen Urobuchi’s science-fiction, and the critique of Western technoscience in Welcome to Night Vale.
* CFP: Medical Humanities and the Fantastic: Neurodiversity and Disability. CFP: Push: Childbirth in Global Screen Culture.
* Is there a dominant mode of current science fiction? Notes on Squeecore. Portrait of the Author As a Component of a “Punk-Or-Core” Formulation. Science Fiction Is Never Evenly Distributed. The sci-fi genre offering radical hope for living better.
* Science Fiction is a Luddite Literature.
* Notes on the Forum of the Simulacra.
* How To Develop A Planetary Consciousness.
* How climate catastrophe has consumed popular culture. Ride or Die? Mark Bould and the Fast-and-Furiocene.
* Is Geoengineering the Only Solution?: Exploring Climate Crisis in Neal Stephenson’s “Termination Shock.” Neal Stephenson Thinks Greed Might Be the Thing That Saves Us. Coming back from a time of illness: how finance can learn from climate change fiction. Melancholy Utopianism: The Ministry of the Future by Kim Stanley Robinson. We Can’t Just Grow Our Way Out of This Climate Mess.
* Climate Realism, Capitalist and Otherwise.
* Pop culture can no longer ignore our climate reality.
* Marvel Movies Made 30% Of The Total Box Office.
* Nnedi Okorafor on SF through an African Lens.
* The Matrix Resurrections and trans life (and death). Unpacking the Hidden Meanings in The Matrix Resurrections. A Muddle instead of a Movie.
* Games Studies Studies Buddies is such a good podcast and this is an exemplary episode. Like and subscribe!
* Joss Whedon fully burns down what’s left of his career. The Joss Whedon Era: A Look Back.
* Why so much Obama-era pop culture feels so cringe now.
* Have We Forgotten How to Read Critically?
* From lynchings to the Capitol: Racism and the violence of revelry.
* California’s Forever Fire.
* California, Arizona and Nevada agree to take less water from ailing Colorado River.
* The heat stays on: Earth hits 6th warmest year on record. The Oceans Are Now Hotter Than At Any Point in Human History, Scientists Warn. Here’s how hot Earth has been since you were born. The Supreme Court Case That Could Upend Efforts to Protect the Environment. US hit by 20 separate billion-dollar climate disasters in 2021, Noaa report says.
* As Tax Credit Expires, “Huge Increase” in Child Poverty Feared Amid Omicron Wave. How Did We Go From Stimulus Checks to “Go to Work With COVID”?
* The Ticking Bomb of Crypto Fascism. Tech Startup Wants To Gamify Suing People Using Crypto Tokens.
* Family Capitalism and the Small Business Insurrection: The growing militancy of the Republican right is less about an alliance of small business against big business than it is an insurrection of one form of capitalism against another: the private, unincorporated, and family-based versus the corporate, publicly traded, and shareholder-owned.
* Ultras.
* Democrats will have to do more to save democracy from Trump. The January Sixers Have Their Own Unit at the DC Jail. Here’s What Life Is Like Inside. The January 6th Republicans (from Jonah Goldberg no less). Oath Keepers founder Stewart Rhodes charged with seditious conspiracy in Jan. 6 Capitol riot. Isn’t it pretty to think so?
* The Rise and Fall of Latinx.
* Don’t Look Up Is a Terrible Movie. Really bad. I ranted.
* The Jewish Roots of ‘Star Trek’. Why ‘Star Trek’ made San Francisco the center of the universe.
* A Grieving Family Wonders: What if They Had Known the Medical History of Sperm Donor 1558?
* Percentage that would visit the Moon as a tourist, if money were not a factor.
* On the Legacy of Hunter S. Thompson and Gonzo Journalism.
* The end of the pandemic? Study: Omicron associated with 91% reduction in risk of death compared to Delta. Hospitals Are in Serious Trouble. America’s COVID Rules Are a Dumpster Fire. We are the 3.2%.
* School Closures Led to More Sleep and Better Quality of Life for Adolescents. After last year’s learning loss, we need a plan for students with disabilities. Ideology and school closings. Who is this gentleman, Dude?
* The Mangle of Federalism.
* Book bans in schools are catching fire. Black authors say uproar isn’t about students.
* Becoming Martian.
* Last Year’s Longest Strike Just Ended in Victory.
* Yale, Georgetown, Other Top Schools Illegally Collude to Limit Student Financial Aid, Lawsuit Alleges.
* Dismissive Incomprehension: A Use of Purported Ignorance to Undermine Others.
* This Is the Way the Humanities End.
* A professor welcomed students to class by calling them ‘vectors of disease to me.’ He has been suspended.
* These Tenured Professors Were Laid Off. Here’s How They Got Their Jobs Back.
* So you want to work in academic publishing.
* As Afghanistan’s harsh winter sets in, many are forced to choose between food and warmth.
* US inflation reached 7% in December as prices rise at rates unseen in decades.
* Bernie Sanders says Democrats are failing: ‘The party has turned its back on the working class.’
* A simple plan to solve all of America’s problem.
* Sea Power, ‘Disco Elysium’, and the importance of being miserable.
* HBO’s Station Eleven Surpasses the Novel.
* Oh boy, they’re finally rebooting Quantum Leap.
* I’d never known this: Schrödinger, the Father of Quantum Physics, Was a Pedophile.
* Wes Anderson’s next sounds like another mistake.
* Haruki Murakami’s Monopoly.
* ‘Invincible’ Animated Series Sparks Profits Suit Against Robert Kirkman.
* What Elmo’s Viral Moment Tells Us About How Parents Watch Kids’ TV.
* A people’s history of the Beatles logo.
* If you want a vision of the future.
* Michael Crichton’s Jurassic Park Is a Terrible Masterpiece.
* The Wire as copraganda.
* BEHOLD! MEGA-MANHATTAN!
* The Strange Literary Puzzle Only Four People Have Ever Solved. And welcome to the Wordle century.
Exactly the Right Number of Finely Curated, Carefully Selected Links from Around the Time My Computer Crashed Last Week to Around the Time I Got It Back This Week
* CFP: “TechnoLogics: Power and Resistance.” CFP: Blade Runner 2049 and Philosophy.
* I have an essay in this new open-access book, Materialism and the Critique of Energy: “Peak Oil after Hydrofracking.” It’s a bit of a departure from my usual work but I thought it came out well… Check it out!
* Kim Stanley Robinson makes the left’s case for geoengineering. And from Peter Frase: Geoengineering for the People.
* The Buffy Not-a-Reboot: A Bad Idea Whose Time Has Come.
* How author Nnedi Okorafor found her identity.
* Fascinating presentation on the SF writing market. Lots to think about here.
* Inside the World of Racist Science Fiction. What can we learn from the utopians of the past?
* Why are there so many staircases in space?
* We were halfway through 2018 when the drugs began to take hold.
* Brexit: That Sinking Feeling. This is what a no-deal Brexit actually looks like.
* Reading Your Problematic Fave: David Foster Wallace, feminism and #metoo. And a report from the 2018 David Foster Wallace Conference, partially a profile of my college classmate Ryan Edel.
* Most academic books aren’t written to be read—they’re written to be “broken.” That should change.
* How to Prepare a Diversity Statement.
* When you’re the only person in your department.
* When your students (might) record you. A good thread on the subject from Angus Johnson.
* Teaching in a red county after Trump.
* Now he tells us! Mea culpa: there *is* a crisis in the humanities.
* We now live in a country where it is seen as abnormal, or even criminal, to allow children to be away from direct adult supervision, even for a second. Motherhood in the Age of Fear.
* Nintendo announces Labo Kit #3.
* Astounding finalist images for Astronomy Photographer of the Year.
* How an Ex-Cop Rigged McDonald’s Monopoly Game and Stole Millions.
* Where the Super-Rich Go to Buy Their Second Passport.
* Time to Take Sexism in Post-Secondary Education Seriously.
* So much of our culture has been shaped by predators.
* Federal judge allows emoluments case against Trump to proceed. Trump’s ‘emoluments’ battle: How a scholar’s search of 200 years of dictionaries helped win a historic ruling.
* These Three Immigrant Families Were Just Reunited After Months Apart. Here Are Their Stories. A Migrant Boy Rejoins His Mother, but He’s Not the Same. A 6-Year-Old Girl Was Sexually Abused in an Immigrant-Detention Center. A child has died following her stay at an ICE Detention Center, as a result of possible negligent care and a respiratory illness she contracted from one of the other children. Immigrant Youth Shelters: “If You’re a Predator, It’s a Gold Mine.” Deportations take unique toll on blended American families. Hundreds of separated parents potentially deported. Deleted families. ICE agents pressured parents to be deported with their children — then separated them again when they refused. Suicide in ICE Custody. ‘Like I am trash’: Migrant children reveal stories of detention, separation. ICE snatches 25-year Minnesota resident from his family in harrowing video. A Father and Son Were Finally Reunited. Later that Day, the Government Ripped Them Apart Again. ‘Why Did You Leave Me?’ The Migrant Children Left Behind as Parents Are Deported. They were warned. It’s happening here. Don’t doubt it for a second. The Number Of Parents Who Were Deported Without Their Children Keeps Growing. Separated Parents Were “Totally Unaware” They Had Waived Their Right To Be Reunified With Their Children. Baby took first steps, spoke first words while in US custody: report. Florida Cops Ship 24-Year-Old Mom to ICE After She Paid Traffic Ticket. This Immigrant Returned To Her Dangerous Home Country — Where She’d Been Raped — After Having A Miscarriage In A US Detention Center. A mother and her son turned up for a domestic-violence case. Then ICE arrested them. A Philadelphia immigration judge was removed from a high-profile case and replaced with a judge who would order the man in the case immediately deported, a move that smacks of judicial interference by the Trump administration, according to a letter signed by a group of retired judges this week. From Crib To Court: Trump Administration Summons Immigrant Infants. Activist judges up to their old tricks. ICE Raids in New York. Philadelphia won’t share information with ICE in big win for activists. Pizza Delivery Man Pablo Villavicencio Freed From Immigration Detention. Protests and petitions call on universities to end their contracts with U.S. Immigration and Customs Enforcement.
* Swedish student stops deportation of Afghan man with protest streamed on Facebook.
* The Trump administration is bullying trans kids, and it’s up to us to stop it. Transgender women say the US government is revoking their passports. Documenting the Trans Generation: Kids, Families and the Fight for Rights.
* Q is a massively successful, deranged conspiracy/entertainment brand/game with roots in prior vile conspiracies like Pizza- and Gamergate. And many Trump supporters LOVE it. Flashback: What Is QAnon? The Craziest Theory of the Trump Era, Explained.
* I’m stuck in Guantanamo. The world has forgotten me.
* They still haven’t fixed the water in Flint.
* Scenes from the class war in New York City, NYDN edition.
* MSNBC has done 455 Stormy Daniels segments in the last year — but none on U.S. war in Yemen.
* Brett Kavanaugh’s Legal Opinions Show He’d Give Donald Trump Unprecedented New Powers. Brett Kavanaugh Thinks Undocumented Workers Aren’t Really Employees Under The Law.
* Don’t it always seem to go that you don’t know what you’ve got till it’s gone?
* Undaunted Democratic Centrists Ready to Fight Trump and Bernie at Same Time.
* The Expressive Function of the Russia Freakout.
* Gasp! Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.
* Unidentifiable fossils: palaeontological problematica.
* The world’s first trillionaire may be an asteroid miner.
* Science fiction design after cyberpunk.
In all these cases we see a de-saturated view of the world, no longer neon on black, just a pall gray. Gone is the “Coolness” of Cyberpunk, now replaced by the “coolness” of a color palate that ranges from a flat blue to an olive drab with only slightly less than 50 shades of gray in between.
* The Architecture of Evil: Dystopian Megacorps in Speculative Fiction Films.
* Sure, 1,000,000% inflation sounds bad.
* Why ‘Sorry to Bother You’ Is 2018’s Sharpest Political Satire. “Crazy” Anticapitalism.
* In 2016, China imported two-thirds of the world’s plastic waste. So when China stopped buying the world’s discarded plastics, it threw markets into turmoil. Meanwhile: The Dirty Truth Is Your Recycling May Actually Go to Landfills.
* The Hidden Environmental Cost of Amazon Prime’s Free, Fast Shipping.
* The Carr Fire Is Officially One of the 10 Worst Wildfires in California History. California is burning (again). The common thread in California’s wildfires: heat like the state has never seen. If you want a vision of the future. If you want a vision of the future. If you want a vision of the future. How Did the End of the World Become Old News? It’s a big problem.
* Climate change is supercharging a hot and dangerous summer. Arctic Circle wildfires rage on as blistering heat takes hold of northern Europe. Crop failure and bankruptcy threaten farmers as drought grips Europe. Scandinavia Is on Fire. In Greece, Wildfires Kill Dozens, Driving Some Into the Sea. Dozens Dead in Japan. Climate change means bigger Arctic spiders — but don’t worry, that could be a good thing.
* I suppose there’s just no one to blame.
* Cows, trees, corn, and golf – how America uses its land.
* In America, land votes. More election maps! Emails show Michigan GOP bragged about cramming ‘Dem garbage’ into gerrymandered districts. Why the argument for democracy is now working for socialists rather than against them.
* “Cooking Them to Death”: The Lethal Toll of Hot Prisons.
* We’re Living a Constitutional Crisis. And despite this, there’s no way out.
* Libertarianism and white supremacy.
* “I’m No Donna Reed”: Postfeminist Rhetoric in Christian At-Home Daughterhood Texts.
* It’s hard realizing that you’re the bad guy, because then you have to do something about it. That’s why the most aggressive players on the gory stage of political melodrama act in such bad faith, hanging on to their own sense of persecution, mouthing the plagiarized playbook of an oppression they don’t comprehend because they don’t care to. These people have a way of fumbling through their self-set roles till the bloody final act, but if we can flip the script, we might yet stop the show.
* Uber and Lyft Are Overwhelming Urban Streets, and Cities Need to Act Fast. Pave Over the Subway? Cities Face Tough Bets on Driverless Cars. Yes, the scooters are fun, but.
* Mortgage, Groupon and card debt: how the bottom half bolsters U.S. economy.
* EPA staff worried about toxic chemical exposure — for Pruitt.
* NJ governor bought a women’s soccer team to inspire his daughter, but ran it into the ground.
* There’s a New Scholarly Take on Mizzou’s Race Crisis, and Its Former Leaders Don’t Fare Well.
* A case involving professors at Plymouth State U raises questions about when it’s OK to speak up for colleagues or students accused of sexual misconduct, if ever. In this case, professors defended former student who admitted to sexually assaulting a 14-year-old. The description honestly doesn’t do it justice; these letters of support are completely eye-popping under the circumstances.
* Number of patients suing USC over sex abuse claims tops 300 as faculty push for Nikias’ exit.
* Ex-Trump staffers should not get plum jobs at elite universities.
* Is Elizabeth Warren Running for President?
* How a Swiss Army Knife is made.
* The latest in the stadium scam.
* What would motivate a company to give away 52,000 tablet computers for free? Can you crack this case, gumshoe?
* A new report finds that big companies could have given their workers thousands of dollars’ worth of raises with the money they spent on their own shares. Are Stock Buybacks Starving the Economy?
* Let the computers be the doctors, they said.
* You don’t know me, computer!
* They’re real good at memes though.
* The anarchist roots of writing.
* Today in Sheriff Clarke news.
* Truly the Devil can quote Scripture for his purposes.
* She Gave Millions to Artists Without Credit. Until Now.
* The Bayeux Tapestry with knobs on: what do the tapestry’s 93 penises tell us?
* Game Studio With No Bosses Pays Everyone The Same.
* Conservative Think Tank Says Medicare For All Would Save $2 Trillion.
* Angelo Secchi, the Jesuit father of astrophysics.
* Wariness and wonder at a conference devoted to “Ancient Aliens.”
* Conversation is impossible if one side refuses to acknowledge the basic premise that facts are facts. This is why engaging deniers in such an effort means having already lost. And it is why AskHistorians, where I am one of the volunteer moderators, takes a strict stance on Holocaust denial: We ban it immediately.
* Locke & Key Has Been Ordered To Series. Flight of the Conchords is coming back. Disney’s Next Heroine Will Be an African Princess. Carrie Fisher Will Appear in Star Wars: Episode IX Via Unused Footage. Shazam looks 90s-cable-level bad, though maybe I’ve just been persuaded that the character is irredeemable. In the First Trailer for Star Trek: Discovery Season 2, the U.S.S. Enterprise Boldly Arrives. And they’re making a Parable of the Sower graphic adaptation.
* Inside J.R.R. Tolkien’s Notebooks, a Glimpse of the Master Philologist at Work.
* Uneven, but finding its voice: @moviegoofs.
* A People’s History of the Greatest Music Video of All Time, Goonies ‘R’ Good Enough.
* The Grim Conclusions of the Largest-Ever Study of Fake News.
* When factchecking backfires.
* History in an Age of Fake News.
* When a stranger decides to destroy your life.
* We must not just ask what a contemporary slave rebellion would look like—we must be on its side.
* A biological intelligence, a machine intelligence, and a god intelligence walk into a bar. Ethics and the self-driving car. Heaven. Can I interest you in a happy ending? From hell’s heart I stab at thee.
* We’ll probably never know what really makes people happy.
* Every Circle In This Image Is The Same Color And It’s Breaking Our Brains.
* Mr. Rogers was my actual neighbor. He was everything he was on TV and more.
* Dungeons & Dragons is having its best year ever, Hasbro CEO says.
* Great thread about New York City’s grid layout, with a great punchline.
* And the guy who slated classic Star Trek takes was unfazed by the whole thing. It’s a living…
Thank God It’s Thanksgiving Week Links – 3
* After years of leaning on tuition increases to make up for declining state support, about four in 10 public universities now report tuition revenue is not keeping pace with inflation, according to a new report by Moody’s Investors Service. Probably should cut funding some more and see if that helps.
* “MOOCs are over,” she said. “Administrators haven’t figured it out yet, but everyone else knows.”
* Initially, the university’s consultants claimed that AST would render a savings of $17 million. Over time that figure shrunk to $5 million, and by some accounts now is reputed to be as low as $2 million. Yet the university has already reportedly spent at least $3 million on this effort with even more spending on the horizon.
* What should be happening is the immediate cancellation of all “Third World” debt, just as the US government forgave far larger sums and bailed out its own banks after the 2008 financial crash. Moreover, developed nations actually have to add money for climate change induced “loss and damage” to the balance sheets of developing countries, rather than subtract it. Understanding Warsaw: Capitalism, Climate Change and Neocolonialism.
* The impact of recession is clear in countries with the most severe economic problems. In Greece, for example, suicides rose by 17 per cent and murder rates more than doubled between 2007 and 2011. Half of new HIV infections between 2009 and 2011 are estimated to have been self-inflicted to secure monthly benefits of €700. That second stat seems very hard for me to accept.
* Superintendent and three school employees indicted in Steubenville rape case.
* Teen Jailed At Rikers For 3 Years Without Conviction Or Trial.
* Techbros for Bronarchy: Rise of the Neobroactionaries.
* Silicon Valley Isn’t a Meritocracy — And It’s Dangerous to Hero-Worship Entrepreneurs.
* And Democrats say sanctions forever. Forever, damnit!
Sunday Night Links!
* I Do Not Want My Daughter to Be ‘Nice.’ I think about this sort of thing a lot.
* According to the Pew Economic Mobility Project, children raised in high-income families who do not earn a college degree are 2.5 times more likely to end up wealthy than low-income students who graduate from college.
* Today’s Student Debt Means A $4 Trillion Loss Of Wealth In The Future.
* Applying neuroscience to the study of literature is fashionable. But is it the best way to read a novel? Is it? Is it?
* Costa Rica announces plans to close its zoos and release animals from captivity.
* Financial Strategies for Grad Students. As harrowing a “Just Don’t Go” screed as any I’ve come across.
* Father of foster child who died speaks to KVUE.
Alex was living with foster parents after DFPS removed her from her parent’s home last November for “neglectful supervision.”
Hill admits they were smoking pot when their daughter was asleep.
* Oregon Embraces ‘University of Nike’ Image.
* Paul Giamatti is developing a John Brown miniseries.
* Good morning! Isn’t it a beautiful day to be a woman? Female Experience Simulator.
* The sports cable bubble. I’m pretty sure abolishing this practice would make cable offerings far worse. Just don’t mess with my AMC.
* Randall Munroe explains “Time.”
* A Tetris documentary. Yes please.
* Town and gown in Ithaca, N.Y.
* And Foxsplaining has finally been perfected: Fox News’ Neil Cavuto Doesn’t Know How Inflation Works.
None Dare Call It Sunday Reading
* How is copyright ruining your fun today? Well, for one thing, it’s keeping you from reading The Last Ringbearer. Via an Atlantic piece on technology in Tolkien, via MetaFilter.
* In the L.A. Times: The human race at 7,000,000,000.
* This won’t go well: science perfects the 3D-printed gun.
* Esquire goes to Altamount, 1970.
* The New York Times interviews the great Alison Bechdel.
* Documentarians who later wished they’d intervened.
* Perry Anderson on democracy in India.
* Meanwhile, in American democracy:
Probably the first post I ever wrote that got actual attention was this one, figuring out just how badly you could lose the popular vote and still win the presidency. (I made a couple minor mistakes, so for the sake of correctness the actual answer is that up to 78.05% of the population can vote for the losing candidate.)
…
I’d note in particular two things: 1) during the last two months of the 2008 election, just four states got more than half of the time and money from the candidates, at the expense of the rest of the country, and thirty-two states got no visits at all! And 2) the electoral college has failed for more than 5 percent of presidential elections! That’s preposterous. A great nation shouldn’t pick its leader by some goofy hairbrained scheme that breaks down one time in twenty.
That said, the proposed solution (the National Popular Vote compact) is also a goofy, hairbrained scheme that would collapse into crisis the second it ever made a difference. Perhaps a “great nation” shouldn’t be hopelessly bound by two-hundred-year-old political compromises whose terms are effectively impossible to alter or amend.
* Also at Washington Monthly: inflation is really not our problem right now.
* The headline reads, “There will be no more professional writers in the future.”
* And just for fun: Miniature People Living in a World of Giant Food by Christopher Boffoli.
Progressives Need to Politicize Money
From a series of legal codes favoring creditors, a two-tier justice system that ignore abuses in foreclosures and property law, a system of surveillance dedicated to maximum observation on spending, behavior and ultimate collection of those with debt and beyond, there’s been a wide refocusing of the mechanisms of our society towards the crucial obsession of oligarchs: wealth and income defense. Control over money itself is the last component of oligarchical income defense, and it needs to be as contested as much as we contest all the other mechanisms.
Read Rortybomb. Via Krugman, who notes “the upshot is terrible: more and more, this really does look like the Lesser Depression, a prolonged era of disastrous economic performance. And it’s entirely gratuitous.”
Crazy Busy Links
Today was busy and tomorrow’s very busy, but after that I get a breather. Here are some links.
* With the upcoming retirement of the space shuttle and Obama’s quiet cancelation of the planned return to the Moon, America essentially no longer has a manned space program. (Via MeFi.) For a nerd I’m actually pretty bearish on space and think there’s probably nothing up there for us—but all the same this makes me really sad.
* Where are all the aliens? Maybe they killed themselves through geoengineering.
* Related: the UFO that mined uranium in Argentina during the 1970s has returned.
* Hard times in academia: college endowments lost $58 billion dollars last year, about 19%.
* How to Report the News. This is perfect.
* Pelosi for president: “You go through the gate. If the gate’s closed, you go over the fence. If the fence is too high, we’ll pole-vault in. If that doesn’t work, we’ll parachute in. But we’re going to get health care reform passed for the American people.”
* How Obama will double exports in five years: the magic of inflation. When you put it that way it sounds a lot less impressive.
* And Republicans have voted 0-40 against another one of their own ideas.
Taxing Health Benefits
Based on a recent survey of one (1) American swing voter, I’ve concluded that talking to parents, siblings, co-workers, and low-information friends about John McCain’s plan to tax employer-based health care benefits is an extremely smart idea for Obama supporters. Joe Klein:
Today’s issue: health insurance. John McCain wants to tax your employer-provided health care benefits. He wants to replace those benefits with an insufficient tax credit–$2500 for individuals and $5000 for families (the average cost per family for health insurance is $12000).
Kevin Drum looks at this issue with an eye towards inflation and concludes it’s even worse than it looks:
…there’s some fine print hidden where McCain hopes no one will see it: his tax credit increases each year only by the normal inflation rate. Your premiums are going to increase way faster — probably around 6-8% per year. That means your taxes are going to go up 6-8% per year too. The chart on the right, courtesy of CAP, shows the gory details: the tax credit doesn’t keep up with the increase in tax payments. In other words, your taxes go up.
If you’re in a somewhat higher tax bracket than the median, the news is even worse because your marginal federal tax rate is higher. If you live in a high-tax state like California, the news is even worse because your marginal state tax rate is higher. If you have a big family, the news is even worse because your premium will be more than $14,000 and the taxes you pay on it will therefore be higher. If your employer decides to ditch group healthcare entirely because there’s no longer any tax advantage to it, then you’re really screwed. And if that happens and you happen to have a chronic illness that no private insurer will touch — well, screwed hardly begins to describe it.
So that’s McCain’s healthcare plan: make it more expensive, make it riskier, and for some people, make it nonexistent.
World Records
It cost me $51.25 to fill up my Jetta yesterday. When I was in high school, just ten short years ago, it would have cost me less than $20.
These truly are the end times.
‘Why the Economy Is Worse Than We Know’
‘Numbers Racket: Why the Economy Is Worse Than We Know’ [pdf]. The excellent cover story for this month’s Harper’s is currently being hosted by Big Picture; you can find an excerpt with the key points at tampabay.com.
When I read this a few days ago, I was nearly moved to manually type in a few paragraphs; this makes that significantly easier:
The real numbers, to most economically minded Americans, would be a face full of cold water. Based on the criteria in place a quarter century ago, today’s U.S. unemployment rate is somewhere between 9 percent and 12 percent; the inflation rate is as high as 7 or even 10 percent; economic growth since the recession of 2001 has been mediocre, despite a huge surge in the wealth and incomes of the superrich, and we are falling back into recession.
If what we have been sold in recent years has been delusional “Pollyanna Creep,” what we really need today is a picture of our economy ex-distortion. For what it would reveal is a nation in deep difficulty not just domestically but globally.
Undermeasurement of inflation, in particular, hangs over our heads like a guillotine. To acknowledge it would send interest rates climbing, and thereby would endanger the viability of the massive buildup of public and private debt (from less than $11-trillion in 1987 to $49-trillion last year) that props up the American economy. Moreover, the rising cost of pensions, benefits, borrowing, and interest payments — all indexed or related to inflation — could join with the cost of financial bailouts to overwhelm the federal budget.
Arguably, the unraveling has already begun. As Robert Hardaway, a University of Denver professor, pointed out last fall, the subprime lending crisis “can be directly traced back to the (1983) BLS decision to exclude the price of housing from the CPI. … With the illusion of low inflation inducing lenders to offer 6 percent loans, not only has speculation run rampant on the expectations of ever-rising home prices, but home buyers by the millions have been tricked into buying homes even though they only qualified for the teaser rates.”
Were mainstream interest rates to jump into the 7 to 9 percent range — which could happen if inflation were to spur new concern — both Washington and Wall Street would be walking in quicksand. The make-believe economy of the past two decades, with its asset bubbles, massive borrowing, and rampant data distortion, would be in serious jeopardy.
The credit markets are fearful, and the financial markets are nervous. If gloom continues, our humbugged nation may truly regret losing sight of history, risk and common sense.
Via MeFi.
Gerry Canavan 