Occasionally, even Stiglitz gets it wrong

If you can name these guys (collectively and individually), you might be a Joneser. 

In Saturday’s post, I mentioned briefly that Stiglitz was in Australia recently warning the Aussies not to import American ideas regarding privatization and capitalism.  You can watch the video here.  It’s about an hour and a half long but it’s pretty good.

He also touched on the plight of the over 50 crowd.  Actually, he says that the problems the over 50’s are facing are spreading downward to people in their 30s and 40s.  He says that the guys in charge of the country have written the over 50 crowd off in terms of the market and jobs in general.  Well, that would explain a lot, like why it is so difficult to get an interview.

But where Stiglitz gets it wrong would be when he says that we lack the technical skills to succeed in this environment.  He says that the economy thinks we are a “disposable commodity” and “technologically obsolete”.

I’d just like to set the record straight here.  I am what commenter r u reddy refers to as Generation Jones.  That is the generation that is wedged in between the baby boomers and the millenials.  Most of us were too young to be radicals.  We lived through the Civil Rights Era but were more likely to attend integrated schools.  We were the bussed generation.  We were the generation that didn’t experience the gender divide between wood shop and home ec. We were the ones who faced the first cuts to post secondary school education.  We didn’t get income averaging or interest deductions on our income taxes.  We were the generation that had to pay more for our social security in the surplus fund. (There’s a quiz to see if you belong.  Check it out here.)

And we were also the generation of Bill Gates and Steve Jobs.  We cut our teeth on Lotus, basic and the original Macs.  In many of our first jobs, we were expected to know how to create macros, run lab equipment with computers with tiny RAM and floppy disks to collect data.  We had to learn VMS to run the VAX, Windows to write reams and reams of reports with Microsoft Office, and Unix, followed by linux, to configure web accessed databases.  Younguns got it easy.  I remember the first days of the web when we had to use ftp at the command line to check the temperature of the cokes in a CMU vending machine, when there weren’t any search engines, and we had to write online tutorials with nothing but HTML tags and we liked it.  But when new technology came along to replace the insufficient, kludgy and tedious, we embraced it and learned it like everybody else.  We’re not the baby boomer managers who wouldn’t know linux if it bit them in the ass.

I feel like I’m in the Twilight Zone sometimes when I get interviewed by someone and they say, “Do you really know how to use Microsoft Office and Email?”   I keep thinking that they must be addressing someone standing behind me.  Of course I know Microsoft Office and Email. Do I look Amish to you?  There’s not an office application, database application, web based application, email application, fill in the blank, that I haven’t used regularly, configured, played with until I got bored or haven’t been able to figure out given a few hours and a lot of questions. (never read the manual)  I imagine that the vast majority of my generation is well adapted to technology and hasn’t met a gadget they didn’t want to overpay apple to possess.

So, I’m not sure who Stiglitz is referring when he says the over 50s have a problem with technology  but it sounds like conventional wisdom, that beautiful theory destroyed by ugly facts.  I really wish Stiglitz wouldn’t perpetuate the myth that Generation Jones isn’t technically able and, therefore, have no prospects.  It is hurting us.

Here’s my beautiful theory: the wealthy do not want to be encumbered with taxes to pay for anyone’s retirement.  They’re owners of equity, not the actual owners who made arrangements or were forced into a government enforced retirement plan back in the day.  If these over 50 year olds spend a decade or more in low level jobs at subsistence wages so they end up taking less in social security payments than they might have otherwise, problem solved!

I’m still collecting data on this.  I might open up an Excel spreadsheet to keep track.

To all those rich people who think they are the most productive people on earth

Don’t flatter yourselves.  Dragons are not productive.

Every school kid knows this.

Just sayin’.

********************************************

Paul Krugman and Joseph Stiglitz have a chat:

 

Monday Morning News and Views

Good Morning Conflucians! I know I’ve been a bit out of if for the past few days–is that why I have a feeling that there is no news worth discussing? Sure, there is another earthquake, this time in Turkey; there are elections in Iraq, there is a new “Al Quaeda” arrest in Pakistan, and there is the ongoing nightmare of “health care reform.”

So why do I feel as if nothing is really happening? Is it just me, or is this country paralyzed, waiting for–what? The other shoe to drop? Another depression er– “recession?” Is there anything that can get us moving? Can anything force this scaredy-cat President to do something–anything!–to change the disastrous course we are on?

In the big media and at “progressive” blogs Rahm Emanuel is being blamed for the paralysis. The Hill had a long piece by Sam Youngman about this “controversy” yesterday.

A spate of recent reports have portrayed Emanuel, known for his aggressive brand of Washington politics, as either the voice of reason in a weak, liberal White House or the wet blanket preventing President Barack Obama from pursuing the kind of change he promised as a candidate.

Emanuel has become the flash point in those arguments as liberals express betrayal over Obama’s failure to convince Congress to pass a public option in healthcare reform and close the detention facility at Guantanamo Bay, Cuba.

According to Youngman, “Democratic strategists” are blaming the netroots for the attacks on Rahm, but other anonymous sources say that efforts to undermine him are coming from inside the White House. The article references Huffington Post pieces by Dan Froomkin and Michael Moore. As we at TC know all too well, these “progressives” still can’t face the fact that they helped elect Bush III. They want to believe that Obama is being duped by Emanuel–and the subtext is that it’s the Clinton’s fault. From the Hill article:

But what Rahm represents to the left dates back to liberal anger with Clinton and his kindred spirits at the centrist Democratic Leadership Council (DLC). Emanuel is seen by some progressives as wanting to win, to a fault by sacrificing principles of the party.

“Rahm believes in being elected; not in the glory of losing or failing,” the strategist said.

In another “think piece,” at Business Week, veteran Village insider Al Hunt calls this “faux White House intrique.” Hunt doesn’t seem to want to blame Obama either, but he nibbles around the edges of doing that:

Yet there is a larger self-created problem for which Emanuel and Axelrod are only partly to blame. Go back to the remarkable Obama campaign of 2007-2008. More than any of its rivals, it had a strategic sense of what it was, where it wanted to go.

This provided a shield against setbacks: losing the New Hampshire primary, the candidate’s careless remarks about rural Pennsylvania voters or even the incendiary remarks of Obama’s pastor. These became speed bumps in the strategic narrative.

That is missing in the Obama presidency. Too often it seems situational rather than strategic, reactive more than proactive. Thus setbacks, from minor ones, such as the handling of the Christmas Day bomber, to major ones, like the loss of the Senate seat in Massachusetts, throw team Obama off stride, and leave voters confused.

Hint, hint…but no one wants to come out and say it: Obama is clueless–he has no idea how to lead our country and no goal in mind even if he could lead. How are we going to survive three more years of this kind of inertia? Continue reading

Lazy Saturday News and Views: Snowpocalypse!

A Washington DC neighborhood yesterday


Good morning Conflucians!!!!

It’s a repeat of last weekend–only worse–for those in the Mid-Atlantic states and stretching west all the way to Ohio and Indiana. Coastal areas are experiencing blizzard conditions and record snowfalls in Washington, DC, Maryland, and Virginia and all the way up to New Jersey and New York. Let us know how things are going where you are. I hope everyone is safe and warm and doesn’t lose power. Stay inside until this think winds down. I speak from experience. There’s no use fighting it, just surrender and enjoy being snowbound for a little while.

From Weather.com:

A punishing winter storm will continue to blast an area from the eastern Ohio Valley to the Mid-Atlantic coast today.

The focus for the heaviest snow today will continue to be near and along the Mid-Atlantic coast. Heavy snow will stretch from eastern Pennsylvania to southern New Jersey through the Delmarva Peninsula into the early afternoon hours.

An additional six to as much as twelve inches of snow will fall today bringing snow totals in this region up to the eighteen to twenty-four inch range with locally higher amounts possible.

Washington Post: Snowstorm’s intensity has D.C. region hunkering down

The full weight of winter brought life in much of the Washington region to a standstill Saturday as a storm predicted to be one of the most powerful on record dumped 12 to 21 inches of snow overnight.

New York Times: East Coast Is Hit by ‘Potentially Epic Snowstorm’

WASHINGTON — One of the largest winter storms the Mid-Atlantic region has seen in decades swept into Washington and Baltimore on Friday, grounding flights, closing schools and government offices, and sending residents racing to stock up on groceries and rock salt before the snow accumulated to what are expected to be record-setting depths….

Jane Lubchenco, administrator of the National Oceanic and Atmospheric Administration, parent agency of the weather service, called the blizzard “a potentially epic snowstorm” that could rival the 28 inches of snow that a January 1922 storm dropped on the capital.

“The National Weather Service has been very clear that this is a storm to take very seriously,” she said. The halls of the Capitol building were quiet, and the federal government sent many workers home four hours early on Friday. Dr. Lubchenco said she was making contingency plans for all government offices in and near the capital to be closed through Tuesday.

“If it is as much and as heavy as they are forecasting, it may be a number of days before people are actually moving around again,” she said. “This is a serious storm.”

Here are some gorgeous snowstorm pics donated by our own Indigogrrl:

A Mama Cardinal

Two Downey Woodpeckers

Just breathtaking! And here is a picture contributed by Riverdaughter:

RD's neighborhood in anticipation of blizzard conditions

We’d love to hear more reports from Conflucians in the hard-hit areas. I’ll be glad to post more photos too. Be careful out there!


THE ECONOMY

Nobel Prize economist Joseph Stiglitz has an article in the Guardian this morning: Obama’s muddled solutions. Stiglitz argues that the message of Scott Brown’s victory in Massachusetts is not for Democrats to move even further right. Instead he says that voters are sending the same message they sent to Bill Clinton and that he was smart enough to act on: “It’s the economy, stupid!” and “Jobs, jobs, jobs”

The US economy is in a mess, even if growth has resumed, and bankers are once again receiving huge bonuses. More than one out of six Americans who would like a full-time job cannot get one; and 40% of the unemployed have been out of a job for more than six months.

As Europe learned long ago, hardship increases with the length of unemployment, as job skills and prospects deteriorate and savings gets wiped out. The 2.5-3.5m foreclosures expected this year will exceed those of 2009, and the year began with what is expected to be the first of many large commercial real-estate bankruptcies. Even the Congressional budget office is predicting that it will be the middle of the decade before unemployment returns to more normal levels, as America experiences its own version of “Japanese malaise”.

Just as Dakinikat predicted way back at the beginning of the financial crisis.

Stiglitz also has a new book outFreefall: America, Free Markets, and the Sinking of the World Economy. More from the Guardian piece:

Continue reading

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