"What is it to do one’s “fair share”? In small groups, it’s clear enough. If my friend and I are shoveling the front walk, my fair share of shoveling, and his, is about half. Often we adjust for differences in ability. If I am big and strong and my friend is small and frail, his fair share may be as much as he can manage. That won’t mean that the whole remainder is my fair share, though. If we’re going to get the walk shoveled, I may have to do a bit more than my fair share. These things get complicated quickly. That’s why the question of what it means for an American do his or her fair share, qua citizen, is completely baffling."
~ The Economist’s always awesome bloggers on “The Politics of Fairness” via T.E.S. The article does a great job of attacking what we really mean when we talk about fairness, and wades into equality territory as well. A good read at either end of the political spectrum. Fair assessment?
Pirate Party wins 9% of Vote in Germany on Talk like a Pirate Day
”We want to make public all data, all administrative procedures,” said Martin Delius, a 27-year-old IT engineer.
The election win has thrust the party, and its leader, into the limelight. ”From IT-nerd to full-time politician,” said the Financial Times Deutschland online edition in a profile of Andreas Baum, the head of the group.
Its supporters and leaders are young and well educated - most of those who voted for the party were under 30, according to an election analysis by television channel ZDF.
I feel that this kind of sentiment will be coming soon from young, savvy voters here in the US. The advantage of a percentage-based system is that you don’t need much to still get a few seats in parliament so it’s tougher to get on the board in the US system of voting. (not saying I prefer percentage-based voting). I would hope to combine the pirate party’s ”free our data” sentiment with some smart, transparent taxation and spending policies to make a great middle of the road political group. More on that, perhaps, coming soon.
As for their victory on such an ARRRRRRspicious day, I say to ye, HUZZAH! and YARRRR!
On the Downgrade…
I’m upset because AAA is better than AA+. I’m upset because all of this could have been avoided and is a self-inflicted wound. I’m upset that most of the downgrade was the result of a congress that cannot be trusted to create a budget for anything, or act logically as representatives of their people (This should fix itself when we’re given the opportunity in November of next year).
Here’s why I’m not letting it bother me.
1) S&P has basically zero track record for being trustworthy on ratings, and it’s a bit worrisome that they chose this moment to jump in and yell at us when Germany and other Euro-zone countries drive away scott free.
2) This is a slap on the wrist that will get people focused on spending more smartly, and in the long run make sure the country is in sound financial shape. Unfortunately it seems that this signal has been misinterpreted as “who can point the finger loudest” by politicians… but we’ve already established they’re children so that’s to be expected.
3) An S&P downgrade may not impact our borrowing rates at all - that’s up to the market, and for that I’m thankful. Our creditors will, in the end, determine whether our country is worth borrowing from, and I would argue that of all the countries in the world we’re doing a pretty good job in creating innovative ideas and making money.
So, a mixed bag, and a mixed blessing. We’ll see how this shakes out but I’d offer a warning to my parents’ generation: fix it. This politics won’t work, and it won’t be tolerated by the next generation of voters. Also, you’ll probably need a backup plan for entitlements.
Here are some links if you want to read more:
- Guardian Editorial - probably the most logical I’ve seen
- AFP Article
“I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of contress are ineligible for re-election.”
I will let Mr. Buffett speak on my behalf when it comes to this issue. There is absolutely NO reason whatsoever except for political theater to not have a deal passed. It is harmful to the economy to have the threat on the horizon and the unknown. It is tying up capital to help manage the risk when it could be flowing. It is absolutely crazy to mess around with, and don’t let a sitting congressperson tell you different.
Also, somebody should mention that “The government can’t really do that much to help the economy, stupid”, but they sure can put a dent in it.
Let’s hope somebody has some courage (I’m looking at you Mr. Boehner) and gets this deal done soon.
(via 37signals via Investing Notebook)
Michele Bachmann to Give the "Tea Party Rebuttal" to State of the Union
Interesting. I’m really hoping this doesn’t divert attention from one of (perhaps) the more intelligent Republicans in congress, Paul Ryan, chairman of the Budget Committee.
What we really need is complete focus on a sane rebuttal person with rational policies for deficit reduction and an ear to compromise. What we don’t need is an [intellectually estranged] person to divert attention from that audience and feed rancor to no pragmatic political end.
I’m hoping that, like Sarah Palin and others, Ms. Bachmann will make a fool out of herself and the public will stop seriously considering them as potential leaders, but you never know.
For fun, here’s a link to the “Michelle Bachmann Insane-o-Matic” quote generator on about.com. Admittedly I hadn’t heard many of these until I looked up some quotes and positions, but they’re pretty amusing. Will be an interesting night for the nation.
Either the first step on a long road to improvement, or a cue for the exits?
Illinois hikes both income and corporate tax rates in the state to 5% and 7% respectively to try and get budget deficits under control. Responsible governance, or a signal to businesses and workers to get out of dodge?
US Visas and Indian IT
One of the best things we can do as a country is keep the high skilled workers we educate here instead of sending them back to their home countries. Right now there is a very small quota of visas that force the best and brightest to leave before they have a chance to start a company or invent. A crazy percentage of graduates from US schools with post-graduate degrees are foreigners (promise, I’ll look it up) and we’re losing their ideas.
Job growth, innovation, entrepreneurship, all are dependent on creative minds doing their best. Let’s keep those minds in the US and push President Obama to raise the visa quotas for highly skilled workers to keep us in the lead for innovative technologies.
Don’t you? Wonderful line of shirts for the national teams going to the World Cup… and then I came across this gem - sure to be the next big Hipster fashion trend…
About Me
A strategy consultant with a passion for IT, geopolitics, economics, and the open ocean. Awed by simple, innovative solutions to difficult problems. This represents my favorite slices of the web and serves as networked storage for my brain which is now entirely pointer-based. Opinions expressed here are my own and do not represent those of any organization with which I may or may not be allegedly associated.
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