Morning Musings

Morning Musings Friday 5 August 2011

Why should Wall Street react negatively to anything going on in government?  I mean, they are in control of government, aren’t they?

And please remind me of why we should be worried about what happens on Wall Street, as opposed to what happens on Main Street.  I mean, on Wall Street they’re just playing with money, right?  On Main Street, they would like to have some money to at least think about playing with it.

Republican Gov Chris Christie, of New Jersey, did something commendable.  He not only appointed a Muslim judge to a court, he stoutly defended his appointment, the qualifications of the judge, and said that all that stuff about Sharia Law is “crap.”He is not backing down.  Do you suppose the president could take some pages from his playbook?  Think:  Dawn Johnsen.  Van Jones.  Elizabeth Warren.  Shirley Chisholm .   Richard Cordray.   Watch Lawrence O’Donnell http://www.msnbc.msn.com/id/21134540/vp/44027940#44028012

They love to chant uncertainty.  It is uncertainty about taxes and regulations that causes big bidness to withhold investment in expansion, hiring, and so forth.   But does anyone even mention uncertainty on Main Street?  Does anyone care?

For once, we can be glad that Congress was in pro forma session this holiday; although the strategy was to prevent the president from making a recess appointment of Richard Cordray to CFPB, ultimately it allowed for a special procedure  to authorize FAA without everyone having to come back to DC.   On the other hand, I was wondering why the airlines hadn’t put the congresspersons on the “No Fly List.”  Although Delta should have been giving them free tickets, because Delta’s employees are not unionized so they supported the Republican goal of gutting union procedures for FAA.

Is anyone talking about GE transferring their entire XRAY department to China?  How many workers lose their jobsE?  And GE’s own CEO Jeffrey Immelt is Obama’s man in charge of creating jobs in America.  I’m sorry, my head is exploding.
Do you suppose US hospitals and doctors could be persuaded to boycott purchase of XRAY machines made in China?

Exxon-Mobil has a display ad:  Exxon Mobil Taking on the World's Toughest Energy Challenges.  Exxon Mobile is proud to be a supporter of the National Math and Science Initiative.  Does this mean they will encourage schools to teach about global warming/climate change, and encourage students to take on the challenge of devising means of combatting the effects of these changes? 

Do we expect the Committee of 12, established to deal with the deficit, to accomplish anything?  The Supercommittee, or Supercongress, as it has been variously dubbed?  Congress already has 45 committees that can't seem to get anything accomplished, we need another?   This committee, to be equally divided between house and senate, and between Republicans and Democrats, is supposed to look at all ways to reduce the deficit, including raising of revenues.  But Speaker Boehner and Senate Minority Leader McConnell have already assured Grover Norquist, who is not an elected official, nor indeed any kind of a government official, that they will not choose anyone for the committee who is "willing to give ground on raising taxes.  Now since the aforementined unelected Grover Norquist has extracted a pledge from Republicans in both houses not ever, under any circumstances, to raise taxes,--specifically, 233 out of 239 representatives have signed the pledge, and 39 out of 46 senators have signed the pledge,--that leaves precious few to appoint to the committee.   Now does that leave the Democratic leaders to appoint only those who will not consider a plan that does not raise revenue/taxes?  Or that will not allow any cuts to Social Security, Medicare, and Medicaid?   Senator Reid wonders if perhaps they should not appoint anyone; Speaker Pelosi says:  "I'm not drawing any lines in the sand.  When  12 clowns are in the ring and a sane person jumps into the ring, he looks like the 13th clown."