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Some Sad News

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From Steve Waldman’s Interfluidity website on January 25:

Maxine Udall, “girl economist”, has been one of my favorite bloggers, a person who combines the power of economic thinking with a deep appreciation for moral and social concerns, all expressed in a very human, very charming, voice.

Today we learn that her name in real life was Alison Snow Jones, and that she is with us no more.  Wow.  This is an awful loss.

I don’t really know what to say.  But Maxine Udall had plenty to say, so I’ll just excerpt.

David Pinney and Meredith Frost have been kind enough to keep the Maxine Udall website going, with this, their expressed wish, in mind:

Please read, link to, and mine Dr. Jones’s writing for information, insight and inspiration.  Her deepest hope was to challenge people to think in new ways about our society and how we live, and to bring her unique viewpoint to as many people as possible.

Accordingly, I have added the Maxine Udall Girl Economist site to my blogroll and I encourage you to click on that link to read some of her essays.  I expect that we will find some interesting comments posted there in the weeks and months ahead.  Dr. Jones had some great thoughts and I would like to contribute to the effort toward keeping those thoughts alive in cyberspace and in the minds of others for as long as possible.

Steve Waldman provided some great excerpts from a few of the essays by Dr. Jones here.

What follows is a passage from a piece she wrote last year, lamenting our ongoing pathetic state of affairs and beyond that – the fact that the financial industry became a “brain drain” –  pulling talented people away from professions which could have allowed those individuals to make more significant contributions to society:

I remain committed to capitalism:  free markets when they function well, regulated markets when they don’t.   The above are simply additional arguments for reining in and regulating casino-like behavior and casino-like rewards in any market, not just capital markets.  In the long run, we will all be dead, but as long as someone will be alive, they deserve a better world and a better life than one gets in a casino where the odds are disproportionately in favor of the house and the house is an unholy combination of corporate power and wealth backed by government laissez faire and largesse.

The following statement by Steve Waldman concerning the loss of Dr. Jones highlights the feelings shared by many of us:

I scan and read so many blog posts every day, even great writing often fades into the background.  Going through the last few months of her work makes me terribly sad that this is a person I will never meet.


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Betting Against Obama

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Most Congressional Democrats and supporters of President Obama are anxious to see an end to the Bush tax cuts for the wealthy.  Nevertheless, as of this writing, the President has yet to even vote “present” on this issue.  Obama’s waffling throughout the tax cut debate has once again exposed his weak leadership skills, which are never overlooked by the people at Fox News:

“The players on the field want a game plan,” said one senior Democratic congressional aide who requested anonymity to be candid about caucus sentiment. “There’s an increasing frustration from members that there is not a plan … There is just tremendous frustration.  I mean, where are they?”

The aide noted that Senate Democrats, meeting behind closed doors Wednesday and most likely Thursday, intend to discuss the tax cuts, but there is one notable absence.

“Where is the White House?  There’s no one here talking to us today or tomorrow,” the aide fumed   .   .   .

*   *   *

Democrats are waiting for an express statement from the President, despite the fact that Obama opened the window on a temporary extension just after the midterm elections.

“We should have done this already.  Our bosses go home and are hounded about this.  I don’t get it.  Just extend the cuts for a few years and be done with it.  There are way too many fingers in the wind on this from both sides (of the aisle),” another senior Democratic aide involved in tax policy for years told Fox.

Robert Reich, former Secretary of Labor for President Clinton, began a recent blog posting with this observation:

The President says a Republican proposal to extend the Bush tax cuts to everyone for two years is a “basis for conversation.”  I hope this doesn’t mean another Obama cave-in.

Unfortunately, in all likelihood it does mean “another Obama cave-in”  — and it probably won’t be the last.  Professor Reich ended that piece with this rhetorical question:

If the President can’t or won’t take a stand now — when he still has a chance to prevail in the upcoming lame-duck Congress — when will he ever?

Answer:  Never (unless it means taking a stand – once again – in support of the Wall Street banks).

In the mean time, while Obama dithers, a group of 40 “Patriotic Millionaires” has stepped forward after writing a letter to the President, in which they urged him not to renew the Bush tax cuts for anyone earning more than $1 million a year.  Joe Conason included the text of that letter in a recent piece for Salon.  The Patriotic Millionaires expressed an opinion, which the President apparently fears might not be shared by his top campaign contributors:

We have done very well over the last several years.  Now, during our nation’s moment of need, we are eager to do our fair share.  We don’t need more tax cuts, and we understand that cutting our taxes will increase the deficit and the debt burden carried by other taxpayers.  The country needs to meet its financial obligations in a just and responsible way.

A similar stance was taken by billionaire financier Warren Buffet, during an interview conducted by Christiane Amanpour on the ABC News program This Week.  When confronted by Amanpour about the claim that those tax cuts for the very wealthy are what energize business and capitalism, Buffet gave this response:

“The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you.  But that has not worked the last 10 years, and I hope the American public is catching on,” Buffett explained.

Writing for The Hill, Alexander Bolton discussed the frustrations experienced by Congressional Democrats, who are often left twisting in the wind while the President works out a strategy for traveling up a fork in the road:

Senate Democrats want President Obama to take a more hands-on role in legislative battles next year, when Republicans will have additional clout on Capitol Hill.

Democratic lawmakers say Obama could have done more to connect his legislative agenda to the concerns of voters — a shortcoming the president himself has admitted.

As the moment approaches for 2012 Presidential aspirants to declare their candidacy, Mr. Obama’s shortcomings are widely understood.  If the Democrats want to hold the White House, somebody with some guts should step forward pretty soon.


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