May 11, 2012 archive

Cross posted from The Stars Hollow Gazette

Vice President Joe Biden started a storm over marriage equality when he announced on Meet the Press that same sex marriage was OK with him. The press immediately wanted to know if President Obama’s position had “evolved.” The Biden interview was taped on Friday, so the White House was fully aware of what he had said. Finally, after three days of media over kill, the passage of Amendment 1 in North Carolina and the drying up of donations from the LGBT community, Pres. Obama announced that he “personally” supported same sex marriage. But hold your horses, people, this was just his personal opinion, not his political policy. Obama is still refusing to issue an executive order that would ban discrimination of gays, lesbians and transgender workers by federal contractors. From Sam Stein at Huffington Post:

The senior administration officials declined to say whether the president would now push for gay marriage to be part of the Democratic Party’s platform at the convention. They also said they were not changing positions on an Executive Order that would ban discrimination on the basis of sexual orientation against federal contractors. The president has said he would not sign that order. [..]

There were, however, reasons why even party officials were insisting, not all that long ago, that the president needed to put this off until after the election. There is concern that support for gay marriage will drive away voters in some conservative-leaning swing states. There is even more concern that Republican operatives can and will use the issue to go after the president.

Letting each state decide on the equality of individuals is not the best idea either. How would individuals have voted in states like Mississippi if they had been given the choice about civil rights? Marriage equality is a federal matter since states are required under the Constitution to recognize marriage contracts from other states. Therefore, they should not be permitted to restrict marriage to heterosexual couples.

Does anyone at this point seriously believe that any of the people who voted for NC’S Amendment 1 will ever vote for Obama, no matter what his stand is on marriage equality? Only time will tell if the campaign donation faucet suddenly opens since it had dried up because of the work place discrimination issue. While it is certainly admirable and, in the case of Obama being a sitting president, momentous, for him to have made an official statement, the President still needs to “walk the walk”, back up his words and sign the anti-discrimnation executive order.  

Cross posted from The Stars Hollow Gazette

US stocks continue to dip and oil fell to below the $100 mark as the Europeans are balking at austerity only budgets that have exacerbated the recession. Nobel prize winning economist, Nuriel  Roubini weighed in on the crisis in Spain and Greece.

“Greece is going to be the first country that’s going to restructure and exit,” he said. “Others will leave also.”

“By the end of the year Spain is going to lose market access,” Roubini said in a subsequent CNBC interview. “They’re going to require a bailout. That will keep them out of the markets for a year or two. That’s not going to work out – then maybe two years down the line then you have a restructuring of the debt…And eventually even Spain could exit the euro zone-but it’s not something that’s going to happen in 12 months.”

Roubini also predicted that Spain economic situation was similar to Greece and Portugal and would require a bail out but with caveats:

And yet despite the clear signs of failure in the existing bailout countries, the EU looks set to pursue an unchanged plan in Spain. But the crucial difference between Spain and the bailout countries is size. If things go wrong in Greece, Portugal and Ireland, a second bailout is affordable. But there can only be one roll of the dice for a country as large as Spain.

A bailout package would buy some time for Spain, but time will only help if it is used to generate economic growth. By making private claims on the sovereign junior to the claims of the troika (European Commission, European Central Bank and International Monetary Fund) even a bailout risks reducing the chances of it regaining market access. Moreover, with economic indicators showing Spain sinking further into recession, a turnround in the country’s economic performance would require a significant shift in policy: monetary easing by the ECB, a weaker euro, fiscal stimulus in the core, less front-loaded austerity in the periphery, more international firewalls and debt mutualisation.

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

Click on images to enlarge

May 11 is the 131st day of the year (132nd in leap years) in the Gregorian calendar. There are 234 days remaining until the end of the year.

On this day in 1934, a massive storm sends millions of tons of topsoil flying from across the parched Great Plains region of the United States as far east as New York, Boston and Atlanta.

At the time the Great Plains were settled in the mid-1800s, the land was covered by prairie grass, which held moisture in the earth and kept most of the soil from blowing away even during dry spells. By the early 20th century, however, farmers had plowed under much of the grass to create fields. The U.S. entry into World War I in 1917 caused a great need for wheat, and farms began to push their fields to the limit, plowing under more and more grassland with the newly invented tractor. The plowing continued after the war, when the introduction of even more powerful gasoline tractors sped up the process. During the 1920s, wheat production increased by 300 percent, causing a glut in the market by 1931.

The Dust Bowl, or the Dirty Thirties, was a period of severe dust storms causing major ecological and agricultural damage to American and Canadian prairie lands from 1930 to 1936 (in some areas until 1940). The phenomenon was caused by severe drought coupled with decades of extensive farming without crop rotation, fallow fields, cover crops or other techniques to prevent erosion. Deep plowing of the virgin topsoil of the Great Plains had displaced the natural deep-rooted grasses that normally kept the soil in place and trapped moisture even during periods of drought and high winds.

During the drought of the 1930s, without natural anchors to keep the soil in place, it dried, turned to dust, and blew away eastward and southward in large dark clouds. At times the clouds blackened the sky reaching all the way to East Coast cities such as New York and Washington, D.C. Much of the soil ended up deposited in the Atlantic Ocean, carried by prevailing winds, which were in part created by the dry and bare soil conditions. These immense dust storms-given names such as “Black Blizzards” and “Black Rollers”-often reduced visibility to a few feet (around a meter). The Dust Bowl affected 100,000,000 acres (400,000 km2), centered on the panhandles of Texas and Oklahoma, and adjacent parts of New Mexico, Colorado, and Kansas.

Millions of acres of farmland became useless, and hundreds of thousands of people were forced to leave their homes; many of these families (often known as “Okies”, since so many came from Oklahoma) migrated to California and other states, where they found economic conditions little better during the Great Depression than those they had left. Owning no land, many became migrant workers who traveled from farm to farm to pick fruit and other crops at starvation wages. Author John Steinbeck [ later wrote The Grapes of Wrath, which won the Pulitzer Prize, and Of Mice and Men, about such people.