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  • Alarmists keep ringing the bell by Richard Lindzen, The Australian

    Article Tags: Richard Lindzen

    IN November last year a file appeared on the internet containing thousands of emails and other documents from the Climatic Research Unit at the University of East Anglia in Britain.

    How this file got into the public domain is still uncertain, but the emails, whose authenticity is no longer in question, provided a startling view into the world of climate research.

    In what has become known as Climategate, one could see unambiguous evidence of the unethical suppression of information and opposing viewpoints, and even data manipulation.

    Moreover, the emails showed collusion with other prominent researchers in the US and elsewhere. The CRU supplies many of the authors for the UN Intergovernmental Panel on Climate Change.

    One might have thought the revelations would discredit the science underlying proposed global warming policy. Indeed, the revelations may have played some role in the failure of last December’s Copenhagen climate conference to agree on new carbon emissions limits.

    Source: theaustralian.com.au

    Read in full with comments »   


  • The Distressing Gap Between New Home Sales and Existing Home Sales

    First a comment on the seasonal adjustment … on a Not Seasonally Adjusted (NSA) basis, the Census Bureau reported there were 38,000 new homes sold in March. That is up from 31,000 in March 2009.

    Some (or all) of the increase was due to a one time event – the tax credit that expires in April. The Census Bureau doesn’t know the number of homes sold due to the tax credit, so they report the Seasonally Adjusted Annual Rate (SAAR) assuming this is the underlying rate of sales. It isn’t.

    The April new home sales headline number will be distorted too, but the key is the actual underlying sales rate is much lower.

    Note: remember the tax credit shows up in the new home sales numbers when the contract is signed (March and April), and in the existing home sales numbers when the transactions are closed (April through June).

    The following graph shows existing home sales (left axis) and new home sales (right axis) through March.

    Distressing Gap Click on graph for larger image in new window.

    The initial gap was caused by the flood of distressed sales. This kept existing home sales elevated, and depressed new home sales since builders couldn’t compete with the low prices of all the foreclosed properties.

    The spike in existing home sales last year was due primarily to the first time homebuyer tax credit. Notice that there was also a bump last year in new home sales from the tax credit.

    We are seeing another bump this year with the expiration of the extension of the tax credit.

    The second graph shows the same information as a ratio – new home sales divided by existing home sales – through March 2010.

    Ratio: Existing home sale to new home sales The ratio increased because the tax credit impacts new home sales first. I suspect this ratio will be at or near the all time low later this year.

    Eventually this ratio will return to the historical range of new home sales being around 15% to 20% of existing home sales. However it will probably take a number of years to return to a more normal market.

    This post is reprinted from Calculated Risk.

    Join the conversation about this story »

  • ‘Colbert Report’: The Lindsey Graham Sex Tape

    ‘Colbert Report’: The Lindsey Graham Sex Tape
    Suddenly, South Carolina Sen. Lindsey Graham is under the microscope for maybe, potentially, being gay! What’s a conservative Southern senator to do? Well, as Stephen Colbert points out, hanging around with Sen. Joe Lieberman might help, but releasing a (straight) sex tape would be even better.

    Colbert

    Suddenly, South Carolina Sen. Lindsey Graham is under the microscope for maybe, potentially, being gay! What’s a conservative Southern senator to do? Well, as Stephen Colbert points out, hanging around with Sen. Joe Lieberman might help, but releasing a (straight) sex tape would be even better.

    Related Entries


    ‘You Shall Not Pass’
    It seems the GOP’s “make sure nothing happens in government” approach is still going strong, with Senate Republicans blocking an effort by Democrats to begin debate on widely popular legislation to regulate the nation’s financial system. Bickering over who was pre-empting which negotiations, Republican Senate leader Mitch McConnell claimed debate should not start on the bill until the two sides reach a true, bipartisan agreement. All this sounds wildly familiar to the health care reform debate, but would the Republicans really be that petty? —JCL The New York Times: Senate Republicans on Thursday blocked an effort by Democrats to start debate on legislation to tighten regulation of the nation’s financial system, and the two sides traded bitter accusations about who was standing in the way of a bipartisan agreement. The majority leader, Harry Reid of Nevada, asked Republicans to agree to begin debating the measure, which would impose a sweeping regulatory framework on Wall Street and big financial institutions. But the Republican leader, Senator Mitch McConnell of Kentucky, objected, saying Democrats were pre-empting negotiations to reach a deal. In response, Mr. Reid said he would call the first procedural vote on Monday in an effort to stop the Republican filibuster. That vote could test Republican resolve to oppose the measure in an election year, amid public dismay over big Wall Street profits and bonuses even as unemployment remains high. Read more

    It seems the GOP’s “make sure nothing happens in government” approach is still going strong, with Senate Republicans blocking an effort by Democrats to begin debate on widely popular legislation to regulate the nation’s financial system.

    Bickering over who was pre-empting which negotiations, Republican Senate leader Mitch McConnell claimed debate should not start on the bill until the two sides reach a true, bipartisan agreement. All this sounds wildly familiar to the health care reform debate, but would the Republicans really be that petty? —JCL

    The New York Times:

    Senate Republicans on Thursday blocked an effort by Democrats to start debate on legislation to tighten regulation of the nation’s financial system, and the two sides traded bitter accusations about who was standing in the way of a bipartisan agreement.

    The majority leader, Harry Reid of Nevada, asked Republicans to agree to begin debating the measure, which would impose a sweeping regulatory framework on Wall Street and big financial institutions. But the Republican leader, Senator Mitch McConnell of Kentucky, objected, saying Democrats were pre-empting negotiations to reach a deal.

    In response, Mr. Reid said he would call the first procedural vote on Monday in an effort to stop the Republican filibuster. That vote could test Republican resolve to oppose the measure in an election year, amid public dismay over big Wall Street profits and bonuses even as unemployment remains high.

    Read more

    Related Entries


  • 2010 Census Return Rate Hits 72 Percent, Matches 2000 Census Return Rate

    2010 Census Return Rate Hits 72 Percent, Matches 2000 Census Return Rate
    WASHINGTON — It’s down to the wire: With a few days left before final mail-in results are tallied, nearly three-fourths of U.S. households have returned…

    Miner Dies At Pocahontas Coal Mine Listed By Rep. George Miller
    A West Virginia man has died after being pinned against the wall of a coal mine, reports WOWKTV. According to an official with West Virginia…

    Oklahoma Abortion Bills Vetoed By Democratic Governor Brad Henry
    OKLAHOMA CITY — Oklahoma Gov. Brad Henry vetoed two abortion bills Friday that he said are an unconstitutional attempt by the Legislature to insert government…

    Two Senators And Larry Summers On Bank Size
    Bank size is suddenly the issue of the day — with politicians lining up to oppose any meaningful restriction on the size of our largest…

    Have Conservatives Gone Mad?
    Serious thinkers on the right have finally gotten around to a full and open debate on the epistemic closure problem that’s plaguing the conservative movement….

  • David Axelrod guests on Jay Leno. Video

    WASHINGTON–White House senior advisor David Axelrod in Los Angeles, was Jay Leno’s guest Friday on NBC’s “The Tonight Show.” Leno flies to Washington to headline Saturday’s White House Correspondents Association Dinner.

    Axelrod on SEC porn

    Axelrod on Biden using the F word

    Axelrod calls President Obama

  • Media Matters: Fox News’ ever-expanding ethics nightmare

    Media Matters: Fox News’ ever-expanding ethics nightmare

    Another week, another handful of ethical scandals that should permanently sink Fox’s claim of being a legitimate news organization.

    To recap: Last week, they gave us twin scandals starring Fox News stalwarts Bill O’Reilly and Sean Hannity. “Furious” Fox News execs pulled Sean Hannity from his planned show filming/fundraiser for the Cincinnati Tea Party after numerous news veterans and watchdogs called foul.

    O’Reilly spent last week reminding us of his willful ignorance by repeatedly falsely asserting that “no one” on Fox promoted the falsehood that “jail time” was a penalty for not buying insurance under the health care reform bill. He was outrageously wrong.

    Though Howard Kurtz reported that Fox plans to “keep a tighter rein on Hannity and others” in the wake of the tea party scandal, we remain skeptical. Fox has a long history of promising change in the wake of damaging ethics scandals, then failing to deliver on those promises.

    Indeed, despite cancelling Hannity’s tea party event, Fox News has yet to cancel a planned appearance by Fox Business host John Stossel at a paid event for a nonprofit organization with very close ties to the energy industry. If history is any indicator, Fox will hold its breath and hope that everyone forgets about the Stossel fundraiser.

    Of course, this being Fox News, Stossel’s planned fundraiser wasn’t even the cable channel’s biggest ethics scandal this week.

    While a great deal of attention has deservedly been given to Rupert Murdoch’s statement that Fox News “shouldn’t be promoting the tea party,” the rest of his comment — “or any other party” — is equally notable. So, how’s Fox’s supposedly frowned-upon promotion of that “other party” — the GOP — going? In a word: lucratively.

    As we detailed last week, Fox News hosts and contributors have raised millions of dollars for Republican candidates and causes using PACs, 527s, and 501(c)(4) organizations.

    In a follow-up report this week, we detailed the massive scope of Fox’s fundraising for the GOP:

    In recent years, at least twenty Fox News personalities have endorsed, raised money, or campaigned for Republican candidates or causes, or against Democratic candidates or causes, in more than 300 instances and in at least 49 states. Republican parties and officials have routinely touted these personalities’ affiliations with Fox News to sell and promote their events.

    In their defense, they did miss Wyoming.

    Were Fox an actual news organization that cared about journalistic standards, all of these ethics scandals would be excellent fodder for its weekly media criticism show, Fox News Watch. Unfortunately, as we noted last weekend, they ignored the O’Reilly and Hannity scandals in favor of such pressing stories as media coverage of the new Oprah bio. Forthcoming coverage of the Fox Newsers’ fundraising seems unlikely.

    Media Matters reporter and senior editor Joe Strupp pointed out that while Fox News Watch was once a source of legitimate media criticism, the show has increasingly transformed into yet another megaphone for GOP talking points. Strupp quoted former Fox News Watch host Eric Burns (no relation to Media Matters President Eric Burns) saying: “The show was getting to be more and more of a struggle to do fairly. There was a progression of interference to try to make the show more right-wing. I fought very hard against it.”

    As Media Matters President Eric Burns pointed out on MSNBC this week, “When you have a famed, well known Republican hitman — Roger Ailes — running a news network, this is what you’re going to get.”

    Fox News has a slightly different take, however. As Fox News Watch put it in the promo for its segment on Ailes’ new ratings high, “Fairness plus balance equals success.”

    Take note, CNN.

    Other stories this week

    If dishonesty won’t derail financial reform, maybe denial will

    Right-wing story time this week — brought to you by Frank Luntz — centered around the claim that financial reform legislation would encourage perpetual and permanent taxpayer bailouts. The genesis of this particular tall tale is Luntz’s January memo that advised opponents of financial regulatory reform to tie the issue to big bank bailouts. Message received. Driving the clown car was Glenn Beck, who appeared on Fox & Friends to decry the “insane” idea of using $50 billion to save failing firms; Michelle Malkin claimed the bill would “institutionalize and make permanent financial bailouts”; Fox Business’ Charles Gasparino said the bill contained a “slush fund” of “$50 billion to bail you out.” Actually, the $50 billion fund would be paid for by the financial services industry and would cover the costs of the orderly liquidation of failing firms, quite clearly the opposite of a bailout. No worries. The Wall Street Journal’s John Fund tried to argue that the bill was bad because it would bail out firms and because it let the government liquidate them. Rush Limbaugh complained that it was “a bailout bill, or a destroy ‘em bill.” Neat trick.

    Not content to distort the bill to push their talking points, media conservatives also trumped up the completely baseless allegation that the Obama administration colluded with the Securities and Exchange Commission to sue Goldman Sachs over alleged fraud, all to create a villain in the financial reform narrative. Now that would be big — bigger even than, say, allegedly failing to disclose to investors that the creator of a fund you were selling them is betting on its failure. And so it was, without a scintilla of evidence, that CNN contributor Erick Erickson claimed on his blog that the administration was “colluding to destroy Goldman Sachs.” Big Government said Obama was “in need of a villain to serve as a political piñata,” and Fox News aggressively pushed the baseless accusation, which SEC officials and the White House strongly denied.

    Right-wing media figures also sweated to the oldies while attacking financial reform this week, dragging out a greatest hits collection of anti-progressive attacks to criticize yet another reform bill. Karl Rove and Fox News claimed health care financial reform meant the government would soon by spying on individual bank accounts with a research office actually charged with analyzing risk across the financial sector. Fox News figures tried to undermine support for the stimulus financial reform by aggressively pushing the canard that affordable housing initiatives caused the housing crisis. Limbaugh whined that “the same people that gave you the DMV” will “be running our health care financial system.” (Sound familiar?)

    Dishonesty, distortion, baseless allegations and yesterday’s attacks. Wouldn’t it be easier to just bury their heads in the sand and pretend there is no “real crisis” at all?

    Fox News rallies for religious bigotry

    In October 2001, evangelical preacher Franklin Graham delivered remarks while dedicating a chapel in North Carolina, during which he touched on the September 11 attacks and the newly spawned war on terrorism: “We’re not attacking Islam but Islam has attacked us. The God of Islam is not the same God. He’s not the son of God of the Christian or Judeo-Christian faith. It’s a different God, and I believe it is a very evil and wicked religion.” Graham’s stance on Islam has not softened over the years, and he told CNN’s Campbell Brown just last December: “[T]rue Islam cannot be practiced in this country. You can’t beat your wife. You cannot murder your children if you think they’ve committed adultery or something like that.”

    Smearing the world’s second-largest faith as “very evil and wicked” and condemning that faith for the worst terrorist attack in American history is inflammatory and wildly offensive. So it should come as a surprise that Fox News rallied to Graham’s defense when religious freedom organizations protested Graham’s invitation to the Pentagon’s National Day of Prayer ceremonies this year. It should come as a surprise because for most, defending Graham’s religious bigotry would be unthinkable. But, unfortunately, Fox News does not operate under such standards of propriety, and has added yet another chapter to its long and undistinguished record of smearing the Islamic faith.

    Fox’s first stab at defending Graham backfired pretty badly, as the Fox & Friends crew invited Graham on to defend himself. He promptly counseled the Muslims that “they don’t have to die in a car bomb, don’t have to die in some holy war to be accepted by God.”

    Fox News personalities then turned to the role of apologists, and chief among them was legal analyst Peter Johnson Jr., who for two days running tried desperately to explain away Graham’s “evil and wicked” comments, including this excuse: “After 9-11, a lot of folks were making those statements.” He also offered this gem: “No one is out to make any excuses for the statements that Franklin Graham made. And they were made nine years ago, in the wake of 9-11. In the wake of 3,000 deaths. He doesn’t need excuses.”

    Johnson certainly wasn’t alone in the excuse-making department. Sean Hannity offered a full-throated defense of Graham, falsely claiming that he was only talking about “radical Islam” and going so far to accuse Graham’s critics of being “afraid to take on radical Islam.” After Graham was disinvited by the Pentagon from a National Prayer Day event, Fox News contributor Sarah Palin wrote: “Nation suffers … as Mr. Graham is uninvited to speak.” Fox News “Culture Warrior” Margaret Hoover felt that the Pentagon’s decision was “unfortunate.”

    So what, if anything, have we learned from all this? We’ve learned that there’s really no smear against Muslims or the Islamic faith that’s too outrageous or offensive to find a home at Fox News.

    This weekly wrap-up was compiled by Ben Dimiero, Jeremy Holden, and Simon Maloy.

  • GOP Rep. Promises Donors: ‘I Would Turn To You For Advice’

    GOP Rep. Promises Donors: ‘I Would Turn To You For Advice’
    Rep. Ileana Ros-Lehtinen (R-FL) canceled a fundraiser after questions were raised about her promise of special access to donors.


    Touchy Subject: Steele Slammed For Criticizing GOP’s Southern Strategy
    Michael Steele’s charge this week that the GOP’s southern strategy has “alienated” minority voters may not have provoked as many headlines as a trip by young Republicans to a lesbian bondage club. But in the long run it could cause just as much trouble for him.

  • Why ‘I Feel It In My Heart’ Is a Terrible Justification for God’s Existence

    Why ‘I Feel It In My Heart’ Is a Terrible Justification for God’s Existence
    As vivid as the experience of our hearts and minds can feel, it’s unreliable and subject to bias.

    As vivid as the experience of our hearts and minds can feel, it's unreliable and subject to bias.

    Arizona Gov. Signs Sweeping Immigration Crack Down Into Law, Essentially Legalizing Racial Profiling
    Arizona Gov. Jan Brewer signed on Friday what is now the most punitive and sweeping anti-immigrant state law in the nation.

    Arizona Gov. Jan Brewer signed on Friday what is now the most punitive and sweeping anti-immigrant state law in the nation.

    Building a Climate Justice Movement
    The climate justice movement has taken up two enormous concerns: How to address ecological catastrophe and how to develop a new global economic model.

    The climate justice movement has taken up two enormous concerns: How to address ecological catastrophe and how to develop a new global economic model.

    Will President Obama Stand up for Real Financial Reform?

    “Ultimately there is no dividing line between Main Street and Wall Street. We rise or we fall together as one nation. So I urge you to join me,” President Obama to Wall Street Executives at Cooper Union, April 22, 2010. Now, in the wake of the Goldman Sachs lawsuit, is a golden moment for President Obama […]

    Wall Street’s Simple Formula for Staying Rich
    Through the Federal Reserve, the public is basically giving the mega banks free money and letting them make bundles on the difference with which they lend.

    Through the Federal Reserve, the public is basically giving the mega banks free money and letting them make bundles on the difference with which they lend.

  • What’s Holding Obama The Professor Back?

    What’s Holding Obama The Professor Back?
    Dahlia, many thanks for your generous words–and for your excellent question, which has to have occurred to our president from time to time, especially in recent months. Should he say more–should he say anything at all–about his understanding of…


    Supreme CourtUnited StatesBarack ObamaUnited States Supreme CourtHistory

    End occupation then start negotiations
    US President Barack Obama is about to take a political leap on the Palestine/Israel issue. Many American presidents took similar leaps and each and every one of them fell flat on their faces. The leap is the launch of a…


    Barack ObamaMiddle EastIsraelObama administrationUnited States

    Presented By:

  • President Obama official schedule and guidance, April 24, 25, 2010. Asheville, N.C. and Beckley, W. Va.

    THE WHITE HOUSE
    Office of the Press Secretary
    _______________________________________________________________________________________
    FOR IMMEDIATE RELEASE
    April 23, 2010

    WEEKEND GUIDANCE AND PRESS SCHEDULE FOR
    SATURDAY, APRIL 24 AND SUNDAY, APRIL 25, 2010

    The President and the First Lady will spend the weekend in Asheville, North Carolina. There are no scheduled public events.

    On Sunday, the President and the Vice President will travel to Beckley, West Virginia, to participate in a memorial service for the miners lost in the tragedy at Upper Big Branch mine. President Obama will deliver a eulogy honoring the lives of those who perished and offering his deepest condolences to the loved ones they left behind. The service is open to pre-credentialed media. The deadline to request credentials has passed. Prior to the service, the President and the Vice President will meet with family members of the miners who lost their lives. This is closed press.

    The President will return to Washington, DC on Sunday evening.

    Saturday’s In-Town Travel Pool
    Wires: AP, Reuters, Bloomberg
    Wire Photos: AP, Reuters, AFP
    TV Corr & Crew: FOX
    Print: USA Today
    Radio: CBS

    Saturday’s Out-of-Town Travel Pool
    Wires: AP, Reuters, Bloomberg
    Wire Photos: AP, Reuters, AFP
    TV Corr & Crew: FOX
    Print: Tribune

    Sunday’s In-Town Travel Pool
    Wires: AP, Reuters, Bloomberg
    Wire Photos: AP, Reuters, AFP
    TV Corr & Crew: NBC
    Print: Wall Street Journal
    Radio: FOX

    Sunday’s Out-of-Town Travel Pool
    Wires: AP, Reuters, Bloomberg
    Wire Photos: AP, Reuters, AFP
    TV Corr & Crew: NBC
    Print: Washington Post
    Radio: CBS

    Saturday, April 24, 2010

    EDT

    No In-Town Travel Pool Call Time

    Sunday, April 25, 2010

    EDT

    1:50PM THE PRESIDENT departs Asheville, North Carolina en route Beckley, West Virginia
    Asheville Regional Airport
    Open Press

    2:40PM THE PRESIDENT arrives in Beckley, West Virginia
    Raleigh County Memorial Airport
    Open Press

    3:00PM THE PRESIDENT and THE VICE PRESIDENT meet with family members of miners who lost their lives at Upper Big Branch mine
    Beckley-Raleigh County Convention Center
    Closed Press

    3:30PM THE PRESIDENT and THE VICE PRESIDENT attend memorial service; THE PRESIDENT delivers eulogy
    Beckley-Raleigh County Convention Center
    Open to pre-credentialed media

    5:20PM THE PRESIDENT departs Beckley, West Virginia en route Andrews Air Force Base
    Raleigh County Memorial Airport
    Open Press

    5:30PM In-Town Travel Pool Call Time

    6:20PM THE PRESIDENT arrives at Andrews Air Force Base
    Out-of-Town Travel Pool

    6:35PM THE PRESIDENT arrives at the White House
    South Lawn
    Open Press (Pre-set 6:05PM – Final Gather 6:20PM – North Doors of the Palm Room)

    Schedule for Week of April 26, 2010

    On Monday, the President will welcome the World Series Champion New York Yankees to the White House to honor their 2009 season. Appearing at this event with the team will be Yankees coaches and staff. In the evening, the President will deliver remarks at the Presidential Summit on Entrepreneurship at the Ronald Reagan Building. At his June 4, 2009, speech in Cairo, President Obama announced that the U.S. Government would host a Summit on Entrepreneurship to identify how we can deepen ties between business leaders, foundations, and entrepreneurs in the United States and Muslim communities around the world. The President’s remarks will be streamed live on www.WhiteHouse.gov/live.

    On Tuesday, the President will continue the White House to Main Street tour with stops in Iowa. In the early afternoon, he will tour Siemens Energy Inc Facility in Fort Madison and then share ideas with workers for continuing to grow the economy and to put Americans back to work. He will then make a stop in Mt. Pleasant. Later in the afternoon, President Obama will hold a town hall meeting in Ottumwa at Indian Hills Community College. On Wednesday, the President will hold events in Macon, Missouri and Quincy, Illinois. He will return to Washington, DC on Wednesday night.

    On Thursday, the President will present the 2010 National Teacher of the Year Award at the White House.

    On Friday, the President will attend meetings at the White House.

    ##

  • GOP newsletter: ?Let?s take Betty Sutton out of the House and put her back in the kitchen.?

    GOP newsletter: ?Let?s take Betty Sutton out of the House and put her back in the kitchen.?
    The Medina County Republican Party in Medina, OH has put out a Spring 2010 edition of its newsletter titled the “Republican Review” that urges supporters to “slow the pace of President Obama’s slippery slide down the slippery slope toward a more socialistic society.” The newsletter names several Democrats that should be defeated and includes a […]

    The Medina County Republican Party in Medina, OH has put out a Spring 2010 edition of its newsletter titled the “Republican Review” that urges supporters to “slow the pace of President Obama’s slippery slide down the slippery slope toward a more socialistic society.” The newsletter names several Democrats that should be defeated and includes a sexist swipe at Rep. Betty Sutton (D-OH):

    This sexist belief that women don’t belong in the workforce is similar to a National Republican Congressional Committee press release that said House Speaker Nancy Pelosi (D-CA) needs to be “put in her place” for expressing certain views on the war in Afghanistan. As Pelosi later responded, “I’m in my place. I’m the speaker of the House — the first woman speaker of the House.” (HT: Jamison Foser)

    ThinkFast: April 23, 2010
    The oil rig that exploded on Tuesday has now sunk into the Gulf of Mexico, “leaving a one-by-five-mile sheen of what the authorities said was ‘crude oil mix.’” A vice president for BP, which was leasing the rig, said “it certainly has the potential to be a major spill.” The most damage would come if […]

    The oil rig that exploded on Tuesday has now sunk into the Gulf of Mexico, “leaving a one-by-five-mile sheen of what the authorities said was ‘crude oil mix.’” A vice president for BP, which was leasing the rig, said “it certainly has the potential to be a major spill.” The most damage would come if the oil spill “were to reach the Louisiana coast, some 50 miles away.”

    Arizona Gov. Jan Brewer (R) has until tomorrow to decide how to act on the “nation’s toughest legislation against illegal immigration,” which reached her desk Monday. She can “sign, veto or allow it to become law without her signature.” Brewer hasn’t said what she will do, but her primary opponent “has called on her to sign the legislation.” Brewer is expected to sign the bill today.

    The Florida GOP is invoking the loyalty oath to forbid any party officials from supporting Charlie Crist’s possible independent bid for Senate. “[T]he Party Loyalty Oath forbids Republican Executive Committee members from supporting any candidate other than the candidate nominated by the voters of the Republican Party through its primary election,” FL GOP general counsel Jason Gonzalez wrote in a memo.

    Sen. Jim DeMint (R-SC) left the door open to a possible presidential bid in 2012. Saying it’s not “something I desire,” DeMint added, “There are a lot of changes I’d like to make in this country and I think Americans are going to be ready for someone to tell them the truth next election.”

    Sen. Chuck Schumer (D-NY) slammed the White House’s policies with respect to Israel, saying that it “has to stop” pressuring the Middle Eastern country on issues related to negotiations with the Palestinians. Responding to Schumer’s words, the New America Foundations’ Steve Clemons writes, “Has Chuck Schumer EVER criticized Israel or its leadership in the way he just unloaded on Obama?”

    Federal records show that “[f]inancial services companies increased their spending to influence Congress during the first three months of the year, while also hiring well-connected lobbyists to press their case on new Wall Street regulations.” Goldman Sachs spent $1.2 million in 2010’s first quarter, 72 percent more than last year, while Citigroup spent $1.4 million, a 13.5 percent increase.

    Democrats released their “long-awaited campaign finance bill,” which “would force top corporate executives, union officials and top donors to stand by political ads just like politicians must do.” The bill, whose main co-sponsors are Rep. Chris Van Hollen (D-MD) and Sen. Charles Schumer (D-NY), will be introduced next week; its backers expect it to be approved by July 4.

    “House Republicans have launched a new ‘real-time’ e-mail, Internet and media offensive aimed at fueling public opposition to Democrats’ climate proposals.” The effort is “designed to coincide” with the introduction of a climate bill in the Senate next week and the “upcoming annual summer spike in gas prices.”

    Several NATO allies are pressing the U.S. to “withdraw its aging stockpile of tactical nuclear weapons from Europe.” Secretary of State Hillary Clinton said the U.S. is not opposed to such a move, but “ruled out removing these weapons unless Russia agreed to cuts in its arsenal, which is at least paper”>10 times the size of the American one.”

    And finally: In honor of “Take our Daughters and Sons to Work Day,” House Speaker Nancy Pelosi (D-CA) held a press conference yesterday with the “pint-size progeny of journalists and congressional aides.”

    Follow ThinkProgress on Twitter.

  • LED-Pimped Vika Lauri

    Materials: Vika Lauri, Dioder

    Description:
    – Setup your Vika Lauri table
    – affix a string of white or multi-color Dioder LEDs to the inside, metal lip with the provided sticky tape
    – conceal wires along the same inside edge and mount control box also using sticky tape

    ~ Kevin Freitas, Tacoma, WA, USA

    See more of Kevin’s colour changing computer table.


  • Senate moves toward combined bill on derivatives oversight

    Senate moves toward combined bill on derivatives oversight
    OVERSIGHT Senate aides inched closer Friday to combining separate bills that would establish oversight of the vast market for derivatives, an effort central to the ongoing push to revamp the nation’s financial regulations.


    Undercover persuasion by tech industry lobbyists
    Why pay for a golf trip, dinner or full-page ad when you can tweet for free?

    Call to freeze congressional salaries may be tied to midterms
    Is it a smart political move or mere election-year populism when members of Congress offer to cut their own pay?

    Deficit commission has a name, a phone number and a few dates
    President Obama’s Commission on Fiscal Responsibility and Reform may not have a Web site or any other obvious point of access for the public, but as its first meeting draws close, some information about the panel assigned to balance the federal budget is finally beginning to trickle out.


    Federal Eye: SEC porn investigation nets dozens
    Dozens of Securities and Exchange Commission staffers used government computers to access and download explicit images and many of the incidents have occurred since the global financial meltdown began, according to a new watchdog investigation.

  • Don’t Cry for Wall Street

    Don’t Cry for Wall Street
    Paul Krugman, New York Times
    On Thursday, President Obama went to Manhattan, where he urged an audience drawn largely from Wall Street to back financial reform. “I believe,” he declared, “that these reforms are, in the end, not only in the best interest of our country, but in the best interest of the financial sector.”Well, I wish he hadn’t said that — and not just because he really needs, as a political matter, to take a populist stance, to put some public distance between himself and the bankers. The fact is that Mr. Obama should be trying to do…

    Who’s Afraid of a Hung Parliament?
    Peter Riddell, Times of London
    Hung parliaments can be made to work. Just ask the Scots and the Swedes, but not the Belgians, whose Government collapsed, yet again, yesterday.We have become so used to the winner-takes-all politics of the first-past-the-post system that anything else is regarded as inferior and dangerous. This week, the Tories stepped up their warnings about an inconclusive result to alarm voters, claiming it could threaten the economy. But, like it or not, we may have to live with it.

    Immigration Bill Holds High Price

  • The Atlantic Ocean Garbage Patch


  • Denialists replace the rigorous and open-minded skepticism of science with the inflexible certainty of ideological commitment.

    I kept running into different versions of that student, people who were convinced that, largely in the name of science, we had tres-passed on nature’s ground. The issues varied, but not the under-lying philosophy. Society had somehow forgotten what was authentic and there was only one effective antidote: embrace a simpler, more “natural” way of life. No phenomenon has illustrated those goals more clearly than persistent opposition to genetically engineered food. “This whole world view that genetically modified food is there so we have no choice but to use it is absolutely terrifying and it is wrong,” Lord Peter Melchett, a former British Labour minister, told me when I met him a few years ago.

    Today, Lord Melchett, whose great-grandfather founded one of the world’s largest chemical companies, is policy director of the British Soil Association, the organic food and farming organiza-tion. The first time we spoke, however, he served as executive di-rector of Greenpeace, where he was in the midst of leading a furious campaign against Monsanto (which he referred to as “Monsatan”) to rid the world of genetically engineered foods. “There is a fundamental question here,” he said. “Is progress really just about marching forward? We say no. We say it is time to stop assuming that discoveries only move us forward. The war against nature has to end. And we are going to stop it.”
    I felt then—as I do now—that he had gotten it exactly wrong; scientists weren’t waging a war at all, he was—against science itself. Still, I saw Lord Melchett as a quaint aristocrat who found an interesting way to shrug off his family’s industrial heritage. His words were hard to forget, though, and I eventually came to realize why: by speaking about a “war against nature,” he had adopted a system of belief that can only be called denialism. Denialists like Lord Melchett replace the rigorous and open-minded skepticism of science with the inflexible certainty of ideological commitment.
    We have all been in denial at some point in our lives; faced with truths too painful to accept, rejection often seems the only way to cope. Under those circumstances, facts, no matter how detailed or irrefutable, rarely make a difference. Denialism is denial writ large—when an entire segment of society, often struggling with the trauma of change, turns away from reality in favor of a more comfortable lie.
    Denialism comes in many forms, and they often overlap. Denialists draw direct relationships where none exist—between childhood vaccinations, for example, and the rising incidence of diseases like diabetes, asthma, and autism. They conflate similar but distinct issues and treat them as one—blending the results of different medical studies on the same topic, or confusing a general lack of trust in pharmaceutical companies with opposition to the drugs they manufacture and even to the very idea of science.
    Unless data fits neatly into an already formed theory, a denialist doesn’t really see it as data at all. That enables him to dismiss even the most compelling evidence as just another point of view. In-stead, denialists invoke logical fallacies to buttress unshakable beliefs, which is why, for example, crops created through the use of biotechnology are “frankenfoods” and therefore unlike anything in nature. “Frankenfoods” is an evocative term, and so is “genetically modified food,” but the distinctions they seek to draw are meaningless. All the food we eat, every grain of rice and ear of corn, has been manipulated by man; there is no such thing as food that hasn’t been genetically modified.

    From: Denialism, How Irrational Thinking Hinders Scientific Progress, Harms the Planet, and Threatens Our Lives.

    Michael Specter, The Penguin Press, 2009

    Pundits Thoughts.

    Another great book to go on the bookshelf next to Stewart Brand’s The Whole Earth Discipline, and Tomorrow’s Table in the Turq library

  • New POI: Deborah Blum–Murder and Chemistry in Jazz Age New York | The Intersection

    My next installment as a Point of Inquiry host just went up–you can download here and stream here. Here’s a description of the show:
    For many of us, chemistry is something we remember with groans from high school. Periodic Table of the Elements—what a pain to memorize, and what was the point, anyway? So how do you take a subject like chemistry and make it exciting, intriguing, and compelling? With her new book The Poisoner’s Handbook, Pulitzer Prize winning journalist Deb Blum has done just that. Blum takes a page from the “CSI” franchise, and moves that familiar narrative of crime, intrigue, and high tech bad-guy catching back into the early days of the 20th century. There, in jazz age New York, she chronicles the birth of forensic chemistry at the hands of two scientific and public health pioneers—the city’s chief medical examiner Charles Norris, and his chemistry whiz side-kick Alexander Gettler. And while chronicling their poison-sleuthing careers, Blum also teaches quite a bit of science. Her book is a case study in science popularization, and one we should all be paying close attention to. Deborah Blum is a Pulitzer-prize winning science writer and has been a professor of journalism at the University of Wisconsin-Madison …


  • YouTube Explains Content ID in the Wake of Hitler ‘Downfall’ Parodies Removal

    Due to the nature of the site, YouTube has always had to struggle to reach a balance between protecting copyright and enabling users to let loose their creativity. The site is facing a $1 billion lawsuit with Viacom and with 24 hours worth of video uploaded every minute, it can’t possibly review each video that en… (read more)

  • 2010-Q1 Progress Review

    After each quarter-end I review my asset allocation and year-to-date total returns by category. The attached PDF contains my actual asset allocation as of 2010-Q1. Below is a high-level summary of the information contained in the PDF:

    Asset Allocation Actual Target Diff.
    Cash/Fixed Income 27.6% 28.0% -0.4%
    Equities-Domestic 38.7% 38.0% 0.7%
    Equities-Internl 23.5% 24.0% -0.5%
    Employer Equity 10.2% 10.0% 0.2%
    Total 100.0% 100.0%
    Cash/Fixed Income 27.6% 28.0% -0.4%
    Large Cap. 46.4% 48.0% -1.6%
    Small/Mid Cap. 15.8% 14.0% 1.8%
    Employer Equity 10.2% 10.0% 0.2%
    Total 100.0% 100.0%

    Asset Allocation

    In the first quarter my asset allocation was reasonably close to my target. Currently the largest variances are between small cap stocks (over allocated 1.8%) and large cap stocks under allocated (under allocated 1.6%). These variances are well below my 2.5% tolerance, so I will adjusted them with future purchases.

    2010-Q1 Performance

    In the first quarter, the market continued to be kind to my portfolio. After trailing the S&P in 2009, my income stocks portfolio out-performed the S&P in the first quarter. Below are the YTD performances of various categories along with my S&P 500 benchmark (VFINX):

    Portfolio Wtd. Avg. 2010 YTD 2009 2008
    Income Stocks 2.5% 8.3% 23.9% -20.4%
    Pocket Change (9/08) 16.2% 28.0% 21.1% -7.3%
    Income ETFs -3.4% 7.9% 17.6% -27.3%
    Asset Allocation 1.7% 5.2% 31.0% -28.4%
    Mutual Funds -4.8% 3.6% 26.4% -38.0%
    S&P 500 (VFINX) -3.7% 5.8% 26.5% -36.3%
    BRK.B -9.5% 33.7% 2.2% -32.1%
    Income Stocks vs S&P 6.2% 2.5% -2.6% 15.9%
    Income Stocks vs BRK 12.0% -25.4% 21.7% 11.7%

    When weighted with 2009 and 2008, all but my mutual funds out-performed the S&P. As I have previously stated, it is my desire to beat the S&P over the long-run, so I don’t pay a lot of attention to short-term performance either positive or negative.

    Passive Income

    For Q1/2010 my passive income averaged $812/month, down slightly from the $920/month in Q4. The decrease resulted from lower interest rates on cash holdings. The above amounts include all sources of passive income in my taxable accounts, primarily interest and dividends. It excludes my Roth IRA, 401(k) and blog income (which is not passive).

    The next update will be in mid-July. As always, thanks for reading!

    (Photo: sanja gjenero)

    Cash/Fixed Income 28.0% 27.0% 1.0%
    Equities-Domestic 37.9% 39.0% -1.1%
    Equities-Internl 23.5% 24.0% -0.5%
    Employer Equity 10.6% 10.0% 0.6%

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