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    • Killing Herd Animals
      One of the great crimes and tragedies of our world is how we treat the animals we eat (or whose milk or eggs or other products we eat and use.) Factory farming keeps them in tiny enclosures, feeds them monotonous foods, and then when they’re slaughtered it’s a terrible experience: they’re terrified and die in […]
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Thursday: Großartig!

Brooke is competing for a summer exchange trip to Germany and I am running around today signing papers and delivering applications and transcripts so we don’t miss the deadline. Wish her luck! I’m just taking a break for lunch. The kid is running me ragged.

In the meantime, check out the post by Brad DeLong about Noam Scheiber’s upcoming book (H/T atrios). If you are at the tail end of the babyboom generation, you’ll be outraged no matter what your political compass is.

More layoffs in Pharma

Yeah, yeah, I know, lefties would care about us except we’re *pharma*.  Your (lack of) concern is truly touching.

This latest layoff is from Sanofi-Aventis in Bridgewater, NJ.  Hundreds of scientists will be losing their jobs.  20-30% may be transferred to the Cambridge facility.  Looks like NJ just lost a bunch more taxpayers.  There’s not a lot of upside to the layoff of more of my friends and colleagues.  There are a lot more of us biomedical researchers on the market now.  With the recent announcements of layoffs from Merck, Novartis and Amgen, it’s almost as if the spigot was opened full force again.  What is happening to pharma right now would have someone like Steve Jobs spitting nails.  The entire focus has been on extracting every last dollar out of the company and abandoning the product line.  It’s hard to predict what comes next but pharma can’t be bled dry forever and the Chinese are not ready to take over yet.

Geeks are people too and we have caloric and shelter requirements like everyone else.  I would say I am surprised that the Obama administration is not paying greater attention to this problem but by the time the effects of so many unemployed researchers finally hits the American consciousness, he will be out of office.  What might have happened if he had taken Christina Romer up on that suggestion of $100 billion for a jobs program?  We might all be working our butts off in some mothballed lab somewhere, carrying on with the research we were doing, living on decent but unspectacular salaries and paying our taxes.

But since we are not all male construction workers, Obama isn’t worrying his pretty little head about us.

No one is entitled to a second term.

 

Not liberal, not even progressive

So says Jay Ackroyd at Atrios regarding Christina Romer’s farewell note, which recognizes the severity of the crisis we’re in but recommends very, very weak tea as a remedy:

The pressing question, then, is what can be done to increase demand and bring unemployment down more quickly. Failing to do so would cause millions of workers to suffer unnecessarily. It also runs the risk of making high unemployment permanent as workers’ skills deteriorate with lack of use and their labor force attachment weakens as hope of another job fades.

….

Policymakers should also take sensible actions to increase confidence. While some in the business community talk about regulatory uncertainty as one reason they are cautious about hiring and investing, I suspect that uncertainty about future sales is a much larger determinant of firms’ actions. We can, however, do more to highlight and codify our pragmatic approach to regulation. As OIRA Administrator Cass Sunstein detailed in his recent Congressional testimony, the estimated net benefits (that is, the benefits minus the costs) of the Obama Administration’s regulatory actions during its first year far surpass those of the first year of the two previous administrations. For the health of the economy, we should continue and trumpet this prudent regulatory approach.

While we would all love to find the inexpensive magic bullet to our economic troubles, the truth is, it almost surely doesn’t exist. The only surefire ways for policymakers to substantially increase aggregate demand in the short run are for the government to spend more and tax less. In my view, we should be moving forward on both fronts.

I was talking to a French expat yesterday and I don’t think the idiots in charge have the slightest clue what is really wrong with the economy from the ground floor.  The expat told me that she felt robbed when she came to this country.  Everything comes with a fee slapped on it.  Her salary is higher than her French colleagues, this is true.  But everything here costs more.  And her taxes here in the US are very high.  She didn’t feel that she was getting the same bang for her taxpayer buck.

Now, it’s true that in France, you have to put up with a lot of striking workers.  But they have a mass transit system that we can only dream about.  Here, college is unaffordable for most people.  There, college is nearly free.  In France, maternity leaves are long and the government gives you a stipend for each child.  Tax deductions are generous.  Here, if you’re not employed, good luck with health insurance.  There, the unemployed are covered and there are no Glenn Becks making the unfortunate feel guilty about collecting on the money they have paid into the system all their working lives.

The French are now complaining about their version of social security.  The transit workers are going on strike to protest a proposed raise in the retirement age- to 62.

If that’s socialism, I’d take it.  Yeah, they have problems but you don’t have to worry about becoming destitute over there. Here, you can be pretty sure that every sufficiently developed company has a sophisticated Metropolis algorithm optimization program designed to deprive you of the last disposable dollar in your wallet.  There are fees on top of hidden costs on top of private free market taxes everywhere you turn.  It has gotten a lot worse since Bush took office in 2000.

But we must be prudent with regulation.  We must not hire a champion like Elizabeth Warren to look out for the consumer, who can’t pinch pennies any longer and pay both governmental and capitalist taxes.  Heaven forfend we ask people who benefitted most from the Bush tax cuts to give them back.  No, let’s just starve state and local governments, lay more people off and scratch our heads when businesses can’t seem to sell anything to anyone. And I am beyond appalled that Obama would appoint the Catfood Commission to find ways to cut social security, just about the only thing we have left between old age and poverty.  He would do this on the backs of working people who have paid into social security all of their working lives and are now seeing pensions and 401Ks drying up.   He would have us all starving in order to prevent him from going to the very rich and ask them to give back and act like they care about their fellow Americans.  And to think that Alan Simpson has the ability to cut the military benefits of my brother and widowed mother enrages me beyond belief.

I want him gone.  I want him out of the White House in 2012.  No, I am not negotiable on this.  There is nothing Democrats can say or do to make me want to have him running things for four additional years.  Dont.  Even.  Ask.  He is everything I feared he would be: self-centered, inexperienced and cowardly.  He doesn’t have a clue how to get us out of this mess and he’s trying to please the wrong people.  He’s got to go.