Do Not Trust to Hope…

“What is at stake in the long run? Two things, mainly, in my view. First, it seems to me that we as progressives need to make an honorable defense of the great legacies of the New Deal and Great Society — programs and institutions that brought America out of the Great Depression and bought us through the Second World War, brought us to our period of greatest prosperity, and the greatest advances in social justice. Social Security, Medicare, housing finance — the front-line right now is the foreclosure crisis, the crisis, I should say, of foreclosure fraud — the progressive tax code, anti-poverty policy, public investment, public safety, and human and civil rights. We are going to lose these battles- get used to it. But we need to make an honorable fight, to state clearly what our principles are and to lay down a record which is trustworthy for the future.“

In a hard-hitting address to the Americans for Democratic Action from last November, economist Jamie Galbraith puts the current situation of progressivism in perspective. His steely resignation may sound fatalistic, but it’s hard not to feel thus these days. “Recovery begins with realism and there is nothing to be gained by kidding ourselves…We need to lose our fear, our hesitation, and our unwillingness to face the facts. If we thereby lose some of our hopes, let’s remember the dictum of William of Orange that ‘it is not necessary to hope in order to persevere.’“

Change You Can Be Afraid Of.

“‘You’re coming of age in a 24/7 media environment that bombards us with all kinds of content and exposes us to all kinds of arguments, some of which don’t always rank all that high on the truth meter,’ Obama said at Hampton University, Virginia. ‘With iPods and iPads and Xboxes and PlayStations, — none of which I know how to work — information becomes a distraction, a diversion, a form of entertainment, rather than a tool of empowerment, rather than the means of emancipation.“

Sigh. We’ve come a long way from “Dirt Off Your Shoulder.” In a commencement speech at Hampton University over the weekend, President Obama channels his inner grumpy-old-man (Roger Ebert?) to warn new grads about the perils of gaming and gadgetry. First off, it’s a ludicrous statement on its face: iPods are not particularly hard to work — and, if they’re really insidious Weapons of Mental Distraction, why give one to the Queen (who, by the way and to her credit, has fully embraced the Wii?)

Speaking more broadly, misinformation has been around as long as the republic — go read up on the Jefferson v. Adams race of 1800. If anything, today’s information society allows people to more easily hear the news from multiple sources, which is a very good thing. In fact, the reason our political culture these days is constantly bombarded with irrelevant, distracting, and inane mistruths has nothing — none, zip, zero — to do with iPods, iPads, Xboxes, or Playstations. It has to do with ABC, CBS, WaPo, Politico, and the rest of the Village, i.e. the very same people the President was noshing with a few weeks ago at the ne plus ultra of “information becoming distracting entertainment“, the White House Correspondents’ DInner.

Finally, while the “multi-tasking is distracting” proposition does seem to hold water, scientifically speaking, the jury’s still out on the pernicious effects of Xbox’s and the like. In fact, there are plenty of studies suggesting that video games improve vision, improve reflexes, improve attention, improve cognition, improve memory, and improve “fluid intelligence,” a.k.a. problem-solving. So, let’s not get out the torches and pitchforks just yet. It could just be that the 21st-century interactive culture is making better, smarter, more informed citizens. (And, hey, let’s not forget Admongo.)

To get to the point, while it’s not as irritating as the concerned-centrist pearl-clutching over GTA in past years, it’s just a troubling dynamic to see not only a young, ostensibly Kennedyesque president but the most powerful man in the world tsk-tsking about all this new-fangled technology ruining the lives of the young people. Let’s try to stay ahead of the curve, please. And let’s keep focus on the many problems — lack of jobs, crushing student loan and/or credit card debts, etc. — that might be distracting new graduates right now more than their iPods and PS3s. (Also, try to pick up a copy of Stephen Duncombe’s Dream — Video game-style interactivity isn’t the enemy. It’s the future.)

Plastic Surgery.

“‘This is landmark legislation that is going to make the credit card marketplace more transparent and more fair for millions of consumers,’ said Travis B. Plunkett, legislative director for the Consumer Federation of America. ‘In particular, it’s going to prevent credit card companies from suddenly and unjustly increasing interest rates which is pushing many consumers with credit card debt into bankruptcy.’” The Senate passes legislation aimed at reining in the more blatant and arbitrary instances of credit card usury by a vote of 90-5, with a bill expected on President Obama’s desk by Memorial Day.

This sounds like a clear step in the right direction…but funny how times change, isn’t it? It doesn’t seem like all that long ago that many of these same Senators passed the 2005 bankruptcy bill, which dug the financial hole deeper for millions of Americans in the name of an easy buck for the credit card industry. Better late than never, I suppose.

Academe: Fun While It Lasted.

“Each academic becomes the trustee not of a branch of the sciences, but of limited knowledge that all too often is irrelevant for genuinely important problems. A colleague recently boasted to me that his best student was doing his dissertation on how the medieval theologian Duns Scotus used citations.” In the NYT, Mark Taylor, the chair of Columbia’s religion department, reads the writing on the wall and calls for a complete overhaul of graduate school education in America. “Graduate education is the Detroit of higher learning. Most graduate programs in American universities produce a product for which there is no market (candidates for teaching positions that do not exist) and develop skills for which there is diminishing demand (research in subfields within subfields and publication in journals read by no one other than a few like-minded colleagues), all at a rapidly rising cost (sometimes well over $100,000 in student loans).” Ya, sounds about right.

A Farewell to “Sen. Oddball.”

“I always let the other fellow have my way.” Sen. Claiborne Pell (D-RI), 1918-2009. “[H]e was best known for his sponsorship of the 1972 program that has helped 54 million low-income and moderate-income students attend college. He also sponsored the legislation that founded the National Endowment for the Arts and Humanities.”

We are all “Socialists” now.

“Let’s be clear about why we’re facing a crisis that could pull down the global financial system. The irresponsibility of individuals who bought houses they couldn’t quite afford pales in comparison with the irresponsibility of the financial wizards who built on those shaky mortgages a towering edifice of irrational faith. Someone in the government should have looked at all those trillions of dollars’ worth of mortgage-backed securities and collateralized debt obligations and credit default swaps and demanded that Wall Street prove that all, or even most, of this purported money was real. But we’re in the eighth year of the Bush administration; adult supervision left the building long ago.” — Eugene Robinson.

Boy, nothing like panic and near-catastrophe in the banking and financial sectors to turn all the stark raving free-market fundies redder than Eugene Debs on May Day, eh? In any event, once again we’re on the verge of learning the hard way that Wall Street does a really lousy job of regulating itself, and that, when push comes to shove, it’s the “don’t-tread-on-me” entrepreneurial capitalists among us who are the first to beg for Big Guvmint to come in and bail them out — at above-market prices. “The only emergency is on Wall Street, and that is entirely of Wall Street’s making. It was the banks that made the loans, the banks that bought the paper, the banks that dumbly believed the models that said that housing prices wouldn’t collapse…How touching to see executives from the likes of Lehman Brothers, not normally an institution associated with widows and orphans, squawk about cutthroat tactics.” And I don’t seem to remember the economic Big Boys, or their mostly-GOP minions in Congress, show such concern about the vagaries of risk when the plight of ordinary folks was being discussed, vis a vis the egregious bankruptcy bill of 2005.

Of course, we can’t just let many of our major financial institutions implode without consequence, and — even though delegating the Dubya administration any more “emergency powers” at this point seems like a colossally bad idea — it seems a given that something will have to be done to sort out all this out, and it will no doubt end up costing taxpayers and aggrieved homeowners a bundle. I just hope, when the dust settles, we remember this time how this all came about, and not just let the idiotic free-market fundies blather on about tax-and-spend liberals killing the entrepreneurial spirit every time some sort of regulatory apparatus is discussed in Washington. We know how that movie ends.

Inconvenient Truths | Convenient Gaming

And, while I’m snarfing links from other blogs, two choice entries from PlasticBag: (1) A rather lame “amateur” anti-Gore YouTube video turns out to be the work of GOP agit-prop artists, likely at the behest of Exxon; and (2) to keep up with the times, everyone’s favorite real estate robber baron simulation, Monopoly, is forsaking the multicolored cash for debit cards. “It is inserted into an electronic machine where the banker taps in cardholders’ earnings and payments.“

Dream a little Dream.

“‘The Republicans say the economy is great for everyone,’ Clinton said. ‘They’ve done nothing about these costs that are eating away at the paychecks of hard-working Americans. Democrats will work to get health-care costs down, to get college tuitions under control, to address the rising costs of gas prices, to cut middle-class taxes and reward companies that create jobs here at home.‘” With November in the not-too-distant future (and 2008 only a step beyond), Senator Hillary Rodham Clinton announces the American Dream Initiative, a.k.a. the DLC centrists’ stab at a Contract with America-type campaign agenda: “The centerpiece proposal would provide additional support for college costs, with the goal of increasing the number of college graduates by 1 million a year by 2015…Other ideas include requirements for employers to establish retirement accounts for all workers and a refundable tax credit for savers; ‘baby bonds’ that would create a government-funded savings account of $500 for every child born in the United States; a refundable tax credit to help provide the down payment on housing; universal health care for children; and benefits for small businesses to lower the cost of providing health insurance to workers.” This all sounds good, if a bit classically Clintonesque. OK, the name is goofy (as was Hillary’s “It’s the American Dream, stupid.“), and IMHO there needs to be more here regarding both campaign finance and lobbying reform. But, still, there’s very little of the usual protective camouflage-y cruft that usually accompanies anything put out by the DLC, so that’s a good start. Let’s see where it goes.

Morally Bankrupt, pt. II.

Even as the fundies rattle the leash, the House moves to placate the GOP’s real masters by approving the corporate-friendly bankruptcy bill 302-126. “Its passage by Congress is a victory for executives in the credit card, retail and auto financing industries who have pushed it for nearly a decade.” But, not to worry, y’all — the base is protected: The bill “preserve[s] loopholes that enable wealthy individuals who file for bankruptcy to shield unlimited amounts of money in complex trusts and in multimillion-dollar homes in states including Texas and Florida.”

“Morally Bankrupt.”

“So what does the bill do? It makes it harder for average people to file for bankruptcy protection; it makes it easier for landlords to evict a bankrupt tenant; it endangers child-support payments by giving a wider array of creditors a shot at post-bankruptcy income; it allows millionaires to shield an unlimited amount of equity in homes and asset-protection trusts; it makes it more difficult for small businesses to reorganize while opening new loopholes for the Enrons of the world; it allows creditors to provide misleading information; and it does nothing to rein in lending abuses that frequently turn manageable debt into unmanageable crises. Even in failure, ordinary Americans do not get a level playing field.” Salon‘s Arianna Huffington ably dissects the GOP bankruptcy legislation currently making its way through Congress. Update: It passes the Senate, with the help of 18 Dems. For shame.