WASHINGTON — Former Vice President Al Gore said on Thursday that Americans must abandon electricity generated by fossil fuels within a decade and rely on the sun, the winds and other environmentally friendly sources of power, or risk losing their national security as well as their creature comforts.
“The survival of the United States of America as we know it is at risk,” Mr. Gore said in a speech to an energy conference here. “The future of human civilization is at stake.”
Home prices are in free fall. Unemployment is rising. Consumer confidence is plumbing depths not seen since 1980. When will it all end?
The answer is, probably not until 2010 or later. Barack Obama, take notice.
It’s true that some prognosticators still expect a “V-shaped” recovery in which the economy springs back rapidly from its slump. On this view, any day now it will be morning in America.
But if the experience of the last 20 years is any guide, the prospect for the economy isn’t V-shaped, it’s L-ish: rather than springing back, we’ll have a prolonged period of flat or at best slowly improving performance.
NEW YORK--Every presidential candidacy relies on a myth. Reagan was a great communicator; Clinton felt your pain. Both storylines were ridiculous. But rarely are the constructs used to market a party nominee as transparent or as fictional as those we're being asked to swallow in 2008.
Still more laughable than the notion of Obama as the second coming of JFK is the founding myth of the McCain campaign: (a) he is a war hero, and (b) said heroism increases his credibility on national security issues. "A Vietnam hero and national security pro," The New York Times calls him in a typical media blandishment.
In a supplement to his responses to the House Judiciary Committee, Patrick Fitzgerald confirms what we've always suspected: Karl Rove was trying to have Patrick Fitzgerald fired while Fitzgerald was still investigating Rove for his role in leaking Valerie Wilson's identity--and the timing lines up perfectly with the Administration's efforts to fire a bunch of US Attorneys.
Remember back in June, when Fitzgerald publicly suggested he had more details to share with Congress about Rove's efforts to get him fired?
"If I owe a response [about the putsch to remove him from his job], I owe it to Congress, first," Fitzgerald said when asked about all this after the verdict.
When former Sen. Phil Gramm, who now serves as an economic adviser to John McCain, declared last week that Americans had become a "nation of whiners"—that we were scared of a recession that was only "mental"—what struck me was not so much the remark's meanness but its symbolic significance. This, historians will someday say, was the snarling end of an era in which our leaders believed that markets represented the very will of the people; that to serve one was to serve the other.
Although it seems hard to believe now, it once pleased the press to call Mr. Gramm a "populist." Long before he scolded the common man as a whiner, Mr. Gramm was widely thought to have the common touch himself. He was the sort of politician who could "connect with working people," he said in 1995, and he used to wax righteous about "the people who do the work and pay the taxes and pull the wagon." Mr. Gramm even came up with his own salt-of-the-earth everyman to champion: one Dickey Flatt, a printer in Texas, whose tax burden had to be weighed against the cost of any federal program before it won Sen. Gramm's judicious nod.
NAOMI KLEIN
Posted May 29, 2008 3:24 PM
Thirty years ago, the city of Shenzhen didn't exist. Back in those days, it was a string of small fishing villages and collectively run rice paddies, a place of rutted dirt roads and traditional temples. That was before the Communist Party chose it — thanks to its location close to Hong Kong's port — to be China's first "special economic zone," one of only four areas where capitalism would be permitted on a trial basis. The theory behind the experiment was that the "real" China would keep its socialist soul intact while profiting from the private-sector jobs and industrial development created in Shenzhen. The result was a city of pure commerce, undiluted by history or rooted culture — the crack cocaine of capitalism. It was a force so addictive to investors that the Shenzhen experiment quickly expanded, swallowing not just the surrounding Pearl River Delta, which now houses roughly 100,000 factories, but much of the rest of the country as well. Today, Shenzhen is a city of 12.4 million people, and there is a good chance that at least half of everything you own was made here: iPods, laptops, sneakers, flatscreen TVs, cellphones, jeans, maybe your desk chair, possibly your car and almost certainly your printer. Hundreds of luxury condominiums tower over the city; many are more than 40 stories high, topped with three-story penthouses. Newer neighborhoods like Keji Yuan are packed with ostentatiously modern corporate campuses and decadent shopping malls. Rem Koolhaas, Prada's favorite architect, is building a stock exchange in Shenzhen that looks like it floats — a design intended, he says, to "suggest and illustrate the process of the market." A still-under-construction superlight subway will soon connect it all at high speed; every car has multiple TV screens broadcasting over a Wi-Fi network. At night, the entire city lights up like a pimped-out Hummer, with each five-star hotel and office tower competing over who can put on the best light show.
Many of the big American players have set up shop in Shenzhen, but they look singularly unimpressive next to their Chinese competitors. The research complex for China's telecom giant Huawei, for instance, is so large that it has its own highway exit, while its workers ride home on their own bus line. Pressed up against Shenzhen's disco shopping centers, Wal-Mart superstores — of which there are nine in the city — look like dreary corner stores. (China almost seems to be mocking us: "You call that a superstore?") McDonald's and KFC appear every few blocks, but they seem almost retro next to the Real Kung Fu fast-food chain, whose mascot is a stylized Bruce Lee.
You and I are caring people. And caring people care about composting, which is why many of us bemoan the fact that our civic governments do not collect compost. The well-informed among us may even talk fondly of municipal organic waste collection systems, like those started in San Francisco in 1998 and Toronto in 2004.
But let's play these municipal collection systems out a bit. First the city gives every household a pricey new plastic rolling tote. They buy additional trucks and hire more people. Those trucks chug up every single lane in the city until they are full, then they drive somewhere far away and dump the organic waste. Large machines pile and re-pile the organics for a few months until it breaks down into compost. They do this two to four times each month, 12 months of the year, for the rest of time.
The court effectively ruled that President Bush has the same right to indefinitely detain a civilian on American soil as he does an enemy soldier on a battlefield.
Tom Friedman is befuddled. He cannot understand “the decline in American popularity around the world under President Bush” and is specifically upset about the fact that “China is now more popular in Asia than America and how few Europeans say they identify with the United States.” Friedman generously allows that “[a]n America that presides over Abu Ghraib, torture and Guantánamo Bay deserves a thumbs-down” — a “thumbs-down”: what a playful movie critic says about a boring film. In listing America’s small imperfections that have caused this worldwide unpopularity, Friedman forgot to mention America’s invasion and occupation of Iraq, which Friedman himself cheered on.
Despite that list of America’s “mistakes” (”Abu Ghraib, torture and Guantánamo Bay”), Friedman nonetheless pronounces that worldwide disapproval of America is “self-indulgent, knee-jerk and borderline silly.” Why? Because Zimbabwe is worse (its dictator stole the last election and represses the country’s citizens), as is China and Russia (they vetoed U.N. sanctions against Zimbabwe this week).A government report in March painted a gloomy picture of the program's future, estimating that its costs will surpass payroll tax revenue in 2017—forcing the system to rely on a trust fund that, the report said, will go broke in 2041. After that, workers' payroll taxes would cover only a fraction of the benefits promised to retirees. Most experts agree that fixing the system will require benefit reductions, tax increases, a rise in the retirement age, or some combination of the three.
(Note: This article was written before Tuesday's fall in the oil price - the biggest drop in one day in 17 years. Light, sweet crude plunged US$6.44, or 4.4%, to settle at $138.74 a barrel on the New York Mercantile Exchange.)
When will it end, this crushing rise in the price of gasoline, now averaging US$4.10 a gallon at the pump? The question is uppermost in the minds of American motorists as they plan vacations or simply review their daily journeys. The short answer is simple as well: "Not soon."
As yet there is no sign of a reversal in oil's upward price thrust, which has more than doubled in a year, cresting recently above $146 a barrel. The current oil shock, the fourth of its kind in the past three-and-a-half decades, and the deadliest so far, shows every sign of continuing for a long, long stretch.
By Bradley Keoun
Nowhere mentioned in the accompanying 66-page handout were the additional $1.1 trillion of assets that New York-based Citigroup keeps off its books: trusts to sell mortgage-backed securities, financing vehicles to issue short-term debt and collateralized debt obligations, or CDOs, to repackage bonds.
