Tag Archives: lower

It’s Spring Fundraising Time!

Mother Jones

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Our annual Spring Fundraising Drive is wrapping up at the end of the month, but as you all know, I’ll be recuperating from my final round of chemotherapy in lovely Duarte, California, right about then. But I didn’t want to be left out, so I asked if I could post my note a little earlier than I usually do.

I figure if there’s ever been a time when I’m allowed to get slightly more maudlin than usual, this is it. (But just slightly. I have a reputation, after all.) I’ve been writing for Mother Jones since 2008, and it’s been such a great job that it’s almost getting hard to remember ever working for anyone else. They’ve provided me with more freedom to write whatever I want than anyone could hope for. That’s been great for me, and I hope for all of you too.

Writing for the print magazine has been a huge gift as well, and it’s something I dearly hope to return to when all the chemotherapy is over and my strength is back to normal. It’s been a privilege to share pages with such an amazingly talented bunch of journalists.

Truthfully, I’ve been blessed to have such a great editorial team over the past few months, as well as such a great readership. You guys are truly the best to go through something like this with.

So here’s the ask: Mother Jones has done a lot for me and lot for you over the past few years, and when I get back they’re going to keep right on doing it. That makes this fundraising request a little more personal than usual, but if there’s ever been a time for you to show your appreciation, this is it. If you can afford five dollars, that’s plenty. If you can afford a thousand, then pony up, because you’re pretty lucky, aren’t you? Either way, when I get back I sure hope to see that my readers have really stepped up to the plate.

Readers like you are a big part of what makes Mother Jones such a unique place. Your support allows me to write about what’s truly important, rather than obsessing over whatever generates the most clicks and advertising revenue. And it’s not just me. It gives all of us the independence to write about issues that other places won’t touch. It means that we ultimately answer to you, our readers, and not a corporate parent company or shareholders (and you’ve never been shy about letting us know what you think!).

Thanks for helping make Mother Jones what it is, and for making the last seven years some of the best of my life. And thanks in advance for whatever you can give to keep both me and Mother Jones going strong. Here are the links for donations:

Donate by credit card here.

Donate by PayPal here.

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It’s Spring Fundraising Time!

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Against All Odds, We Have a Tentative Nuclear Deal With Iran

Mother Jones

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Well, I’ll be damned. As President Obama just said, the details of the newly announced nuclear deal with Iran matter, and the deal isn’t done until those details are fully worked out. Still, I figured the odds of getting even a framework agreement at about 70-30 against. This time, at least, it looks like John Kerry’s tenacity has paid off.

The question of precisely when sanctions on Iran will be lifted seems to have been carefully avoided in the press conferences I’ve seen so far, but presumably that will get worked out. That aside, the framework seems pretty reasonable. I’ll be fascinated to learn what tack Republicans take to justify their inevitable opposition.

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Against All Odds, We Have a Tentative Nuclear Deal With Iran

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Once Again, We Are Unlearning the Lesson of the Great Debt Bubble

Mother Jones

Is this good news?

Millions of Americans unable to obtain credit cards, mortgages and auto loans from banks will receive a boost with the launch of a new credit score aimed at consumers regarded as too risky by lenders.

Here’s more:

The new score is largely a response to banks’ desire to boost lending volumes by increasing loan originations to borrowers who otherwise wouldn’t qualify, many of whom tend to be charged more for loans….The new score, which isn’t yet named, will be calculated based on consumers’ payment history with their cable, cellphone, electric and gas bills, as well as how often they change addresses and other factors.

….The new score could help applicants who don’t use credit often but are responsible with their monthly payments to get approved for financing….But many borrowers who don’t have a traditional FICO score are very risky.

….Besides increasing their pool of borrowers and loan originations, banks stand to earn more in interest revenue from riskier borrowers. Lenders charge higher interest rates and in some cases extra fees to borrowers who present a higher risk of falling behind on debt payments.

Color me deeply skeptical. Helping people who are denied credit simply because they don’t currently use any credit sounds great. And assessing them by their reliability in paying normal monthly bills sounds perfectly reasonable.

But I very much doubt this is really the target of this initiative. After all, people with no previous credit history already have access to credit. They just have to start slowly, with low credit limits and so forth. This new scoring system probably won’t change that.

What it will do is give banks an excuse to extend high-cost credit to risky borrowers—exactly the same thing they did during the housing bubble. As you may recall, that didn’t turn out well, and there was a simple reason: risky borrowers are risky for a reason. When banks start to get too loose with their lending standards they end up dealing with default rates much higher than they expected.

This won’t happen right away, of course. Banks will be relatively cautious at first. They always are. But just wait a few years and it will be a different story. Then the standards will be lowered just a little too far, the rocket scientists will do their thing, and we’ll be headed toward yet another debt crisis.

This is almost certainly a bad idea. We’d all like to see everyone get a chance, but there are good reasons to restrict credit to borrowers who are likely to repay. We should remember that.

UPDATE: Megan McArdle has a different take here. I’m skeptical, but it’s worth reading.

Link: 

Once Again, We Are Unlearning the Lesson of the Great Debt Bubble

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If Hillary Clinton Testifies About Her Emails, She Should Do It In Public

Mother Jones

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Here’s the latest on Hillary Clinton’s emails:

The chairman of the House committee investigating the Benghazi attacks asked Hillary Rodham Clinton on Tuesday to appear for a private interview about her exclusive use of a personal email account when she was secretary of state.

….Mr. Gowdy said the committee believed that “a transcribed interview would best protect Secretary Clinton’s privacy, the security of the information queried, and the public’s interest in ensuring this committee has all information needed to accomplish the task set before it.”

Go ahead and call me paranoid, but this sure seems like the perfect setup to allow Gowdy—or someone on his staff—to leak just a few bits and pieces of Clinton’s testimony that put her in the worst possible light. Darrell Issa did this so commonly that it was practically part of the rules of the game when he was investigating Benghazi and other Republican obsessions.

Who knows? Maybe Gowdy is a more honest guy. But since Clinton herself has offered to testify publicly, why would anyone not take her up on it? It’s not as if any of this risks exposing classified information or anything.

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If Hillary Clinton Testifies About Her Emails, She Should Do It In Public

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The US Has No Clean Battle Lines in the Middle East

Mother Jones

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From The Corner:

The United States is sending mixed signals to its allies in the Middle East by simultaneously giving support to the Saudi-led Sunni coalition fighting in Yemen and negotiating with Shiite Iran on its nuclear program, according to NBC chief foreign correspondent Richard Engel.

Engel pinpoints an apparent contradiction: Even as the U.S. is assisting Saudi Arabia and other nations in “confronting the Iranian-backed rebels in Yemen” by providing intelligence and other support, it continues to negotiate with Tehran on its nuclear program, and to collaborate with Iranian forces in the fight against the Islamic State in Iraq.

As a result, Engel says, “the Saudis, and the larger Sunni Muslim world, doesn’t sic feel the U.S. can really be trusted.”

Gee, no kidding. Saudi Arabia is a Sunni ally of the US that hates Iran. Iraq is a Shiite ally who’s cozy with Iran. The US itself is hostile toward Iran, but shares a common enemy in ISIS. Syria is a total mess with no clear good guys. And, yes, a good nuclear deal with Iran would be a bonus for the safety of the entire region.

That’s it. That’s the way the world is. The United States is not allied solely with Shiite or Sunni regimes and hasn’t been since at least 9/11. It’s confusing. It’s messy. And maybe President Obama hasn’t handled it as skillfully as he could have. But who could have done any better? There just aren’t any clean battle lines here, and the sooner everyone faces up to that, the better off we’ll be.

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The US Has No Clean Battle Lines in the Middle East

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Peculiar Eyesight Question

Mother Jones

I’ll be asking my optometrist about this shortly, but just for fun I thought I’d throw it out to the hive mind to see if anyone knows what’s going on.

Over the past couple of weeks, I’ve noticed that my distance vision is a little fuzzy. Time for new glasses, you say, and you’re probably right. But here’s the odd thing. I keep all my old glasses, and last night I tried them all on just to see if an older prescription worked better than my current glasses. What I discovered was a little strange.

Right under my TV I happen to have two LED clocks. One uses red LEDs and the other uses blue LEDs. With my current glasses, the blue LEDs are sharp and the red LEDs are fuzzy. But when I put on glasses that are a few years old, it changes. The red LEDs are sharp and the blue LEDs are fuzzy. The difference is quite noticeable, not a subtle thing at all.

Anyone know what this is all about?

Continued:

Peculiar Eyesight Question

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Friday Cat Blogging – 27 March 2015

Mother Jones

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Today I get to spend six hours in a chair getting Cytoxin pumped into my body. So this is it. No more tests or consults. This is the first actual step in the second stage of my chemotherapy. Following this infusion, I will spend a week injecting myself with a drug that (a) stimulates white blood cell production and (b) will apparently make me feel like I have the flu. Next, I spend a week in LA sitting in a chair several hours a day while they extract stem cells from my body. Then a week of rest and then the stem cell transplant itself, which will put me out of commission for a minimum of three weeks.

So no blogging today. Next week is iffy. Probably nothing much the week after that either. Then maybe some blogging during my rest week. And then I’ll go offline probably completely for a month or so. It all depends on just how quickly I recover from the transplant. We’ll see.

In the meantime, here are Hopper and Hilbert, hale and hearty as ever. Have a nice weekend, everyone.

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Friday Cat Blogging – 27 March 2015

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Democrats Should Pass the Doc Fix Bill

Mother Jones

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A bill to permanently reform the ridiculous annual charade over the Medicare “doc fix” passed the House today:

The House overwhelmingly approved sweeping changes to the Medicare system on Thursday, in the most significant bipartisan policy legislation to pass through that chamber since the Republicans regained a majority in 2011.

The measure, which would establish a new formula for paying doctors and end a problem that has bedeviled the nation’s health care system for more than a decade, has already been blessed by President Obama, and awaits a vote in the Senate. The bill would also increase premiums for some higher income beneficiaries and extend a popular health insurance program for children.

But of course there’s a problem:

Senate Democrats have been resistant to provisions in the bill that preserve restrictions on the use of federal money for abortion services and extend a children’s health program for only two years, but they are expected to eventually work with Senate Republicans to pass the measure.

This is similar to the problem with the bipartisan human trafficking bill, which Senate Democrats filibustered last week because of a provision that none of its funds could be used to pay for abortions.

I suppose this will get me a lot of flack for being a sellout, but I think Dems should approve both bills. Yes, the abortion provisions are annoying, and go slightly beyond similar language that’s been in appropriations bills for decades. But slightly is the operative word here. Like it or not, Republicans long ago won the battle over using federal funds for abortions. Minor affirmations of this policy simply don’t amount to much aside from giving Republicans some red meat for their base.

This is mostly symbolic, not substantive. Let’s pass the bills.

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Democrats Should Pass the Doc Fix Bill

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Middle East War Suddenly Getting a Lot More Warlike

Mother Jones

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I’m a little behind on the news right now, but it sure looks like things are getting a whole lot hotter in the Middle East. Here are a few headlines:

Saudi Jets Strike Yemen in Bid to Halt Houthis

Tikrit airstrikes draw U.S. into battle between militants and Iraqi forces

Obama Says He Will Delay Withdrawal of U.S. Troops from Afghanistan

Iran-backed rebels loot Yemen files about U.S. spy operations

U.S. Role in Middle East Revamped Amid Chaos

That last headline comes from the Wall Street Journal, and seems to sum things up pretty well. The story includes this:

Kenneth Pollack, the former CIA analyst, said the military campaign in Yemen is unlikely to have a positive effect on the country’s fractured dynamics.

“The idea that this is going to produce some kind of a peaceful settlement is ridiculous,” Mr. Pollack said. “The more likely outcome is it just prolongs the stalemate.” The Persian Gulf countries could consider the use of ground troops to make progress, which should be a concern for the U.S., he said.

What could go wrong?

Source article – 

Middle East War Suddenly Getting a Lot More Warlike

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Prison Rates are Down. Thanks to Lead, They’re Going to Stay Down.

Mother Jones

Yesterday the Bureau of Justice Statistics released the latest numbers on incarceration rates, and the headline news is that we’re sending fewer people to prison. But there’s an interesting wrinkle in the numbers that few news outlets have picked up on, even though it’s a trend that’s been obvious in the numbers for a long time. Here it is:

That’s from Rick Nevin, and you know what’s coming next, don’t you? Lead. It explains a lot of what’s going on here.

The US started phasing out gasoline lead in 1975, which means that children born after 1975 were exposed to steadily less lead. And the effect was cumulative: the later they were born, the less lead they were exposed to and the less crime they committed when they grew up. However, children born before 1975 were unaffected by all this. They were born in a high-lead era, and since all that matters is exposure during early childhood, the damage had already been done.

In 2013, this means that the statistics show a reduction in crime rates in adults under the age of 40, and the younger the cohort the lower the crime rate. Unsurprisingly, this also means they’re incarcerated at lower rates. The chart above shows this fairly dramatically.

But it also shows that incarceration rates have stayed steady or increased for older men. Those over the age of 40 had their lives ruined by lead when they were children, and the effect was permanent. They’re still committing crimes and being sent to prison at the same rate as ever. It’s hard to explain both these trends—lower prison rates for kids, higher prison rates for the middle-aged—without taking lead into account.

This is one of the reasons that the lead-crime hypothesis is important. In one sense, it’s little more than a historical curio. It explains the rise and fall of crime between 1960 and 2010, but by now most environmental lead has been cleaned up and there’s only a limited amount left to worry about. So it’s interesting, but nothing more.

But here’s why it matters: if the hypothesis is true, it means that violent crime rates aren’t down because of transient factors like drug use or poverty or harsh penal codes. The reduction is permanent. Our children are just flatly less violent than the lead-addled kids who grew up in the years after World War II. And that in turn means that the decline in incarceration rates is permanent. We don’t need as much prison space as we used to, and we don’t need punitive penal codes designed to toss kids behind bars for 20 years at the first sign of danger.

In other words, we can ease up. Our kids are less violent and our streets are less dangerous. Nor is that likely to change. The lead is mostly gone, and it’s going to stay gone. We’re safer today not because of broken windows or three-strikes laws or 20-year sentences for dealing cocaine. We’re safer because we’re no longer poisoning our children in ways that turn them into hair-trigger thugs. And guess what? If we cleaned up the ambient lead that still remains, we’d be even safer 20 years from now.

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Prison Rates are Down. Thanks to Lead, They’re Going to Stay Down.

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