June 2012 archive

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 image to enlarge

June 6 is the 157th day of the year (158th in leap years) in the Gregorian calendar. There are 208 days remaining until the end of the year.

On this day in 1933, eager motorists park their automobiles on the grounds of Park-In Theaters, the first-ever drive-in movie theater, located on Crescent Boulevard in Camden, New Jersey.

History

The drive-in theater was the creation of Camden, New Jersey, chemical company magnate Richard M. Hollingshead, Jr., whose family owned and operated the R.M. Hollingshead Corporation chemical plant in Camden. In 1932, Hollingshead conducted outdoor theater tests in his driveway at 212 Thomas Avenue in Riverton. After nailing a screen to trees in his backyard, he set a 1928 Kodak projector on the hood of his car and put a radio behind the screen, testing different sound levels with his car windows down and up. Blocks under vehicles in the driveway enabled him to determine the size and spacing of ramps so all automobiles could have a clear view of the screen. Following these experiments, he applied August 6, 1932, for a patent of his invention, and he was given U.S. Patent 1,909,537 on May 16, 1933. That patent was declared invalid 17 years later by the Delaware District Court.

Hollingshead’s drive-in opened in New Jersey June 6, 1933, on Admiral Wilson Boulevard at the Airport Circle in Pennsauken, a short distance from Cooper River Park. It offered 500 slots and a 40 by 50 ft (12 by 15 m) screen. He advertised his drive-in theater with the slogan, “The whole family is welcome, regardless of how noisy the children are.” (The first film shown was the Adolphe Menjou film Wife Beware.) The facility only operated three years, but during that time the concept caught on in other states. The April 15, 1934, opening of Shankweiler’s Auto Park in Orefield, Pennsylvania, was followed by Galveston’s Drive-In Short Reel Theater (July 5, 1934), the Pico in Los Angeles (September 9, 1934) and the Weymouth Drive-In Theatre in Weymouth, Massachusetts (May 6, 1936). In 1937, three more opened in Ohio, Massachusetts and Rhode Island, with another 12 during 1938 and 1939 in California, Florida, Maine, Maryland, Massachusetts, Michigan, New York, Texas and Virginia. Michigan’s first drive-in was the Eastside, which opened May 26, 1938, in Harper Woods near Detroit.

Early drive-in theaters had to deal with noise pollution issues. The original Hollingshead drive-in had speakers installed on the tower itself which caused a sound delay affecting patrons at the rear of the drive-in’s field. Attempts at outdoor speakers next to the vehicle did not produce satisfactory results. In 1941, RCA introduced in-car speakers with individual volume controls which solved the noise pollution issue and provided satisfactory sound to drive-in patrons.

h/t tengrain at Dependable Renegade

Cross posted from The Stars Hollow Gazette

MSNBC and other news outlets are calling the Wisconsin recall of Republican Governor Scott Walker for Gov. Walker.

Scott Walker, the embattled Republican governor of Wisconsin, narrowly survived a recall vote on Tuesday, defeating a union-led effort to remove him from office for pushing laws to restrict the collective bargaining rights of state workers.

The state’s labor movement had marshaled widespread anger earlier this year to force a recall vote just two years into Mr. Walker’s four-year term. Democrats collected close to one million signatures in the petition drive to oust him.

That effort led to the closely-watched rematch between Mr. Walker and the Democratic opponent he beat in 2010, Tom Barrett, the mayor of Milwaukee. In the voting Tuesday, Mr. Walker once again bested Mr. Barrett for the state’s top job.

The results were a victory for the national Republican Party and conservative groups from around the country, which had rallied behind Mr. Walker with tens of millions of dollars. Mr. Walker will now complete his term.

Unless, he’s indicted.

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 image to enlarge

June 5 is the 156th day of the year (157th in leap years) in the Gregorian calendar. There are 209 days remaining until the end of the year

1933, the United States went off the gold standard, a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.

Soon after taking office in March 1933, Roosevelt declared a nationwide bank moratorium in order to prevent a run on the banks by consumers lacking confidence in the economy. He also forbade banks to pay out gold or to export it. According to Keynesian economic theory, one of the best ways to fight off an economic downturn is to inflate the money supply. And increasing the amount of gold held by the Federal Reserve would in turn increase its power to inflate the money supply. Facing similar pressures, Britain had dropped the gold standard in 1931, and Roosevelt had taken note.

Prolongation of the Great Depression

Some economic historians, such as American professor Barry Eichengreen, blame the gold standard of the 1920s for prolonging the Great Depression. Others including Federal Reserve Chairman Ben Bernanke and Nobel Prize winning economist Milton Friedman lay the blame at the feet of the Federal Reserve. The gold standard limited the flexibility of central banks’ monetary policy by limiting their ability to expand the money supply, and thus their ability to lower interest rates. In the US, the Federal Reserve was required by law to have 40% gold backing of its Federal Reserve demand notes, and thus, could not expand the money supply beyond what was allowed by the gold reserves held in their vaults.

In the early 1930s, the Federal Reserve defended the fixed price of dollars in respect to the gold standard by raising interest rates, trying to increase the demand for dollars. Its commitment and adherence to the gold standard explain why the U.S. did not engage in expansionary monetary policy. To compete in the international economy, the U.S. maintained high interest rates. This helped attract international investors who bought foreign assets with gold. Higher interest rates intensified the deflationary pressure on the dollar and reduced investment in U.S. banks. Commercial banks also converted Federal Reserve Notes to gold in 1931, reducing the Federal Reserve’s gold reserves, and forcing a corresponding reduction in the amount of Federal Reserve Notes in circulation. This speculative attack on the dollar created a panic in the U.S. banking system. Fearing imminent devaluation of the dollar, many foreign and domestic depositors withdrew funds from U.S. banks to convert them into gold or other assets.

The forced contraction of the money supply caused by people removing funds from the banking system during the bank panics resulted in deflation; and even as nominal interest rates dropped, inflation-adjusted real interest rates remained high, rewarding those that held onto money instead of spending it, causing a further slowdown in the economy. Recovery in the United States was slower than in Britain, in part due to Congressional reluctance to abandon the gold standard and float the U.S. currency as Britain had done.

Congress passed the Gold Reserve Act on 30 January 1934; the measure nationalized all gold by ordering the Federal Reserve banks to turn over their supply to the U.S. Treasury. In return the banks received gold certificates to be used as reserves against deposits and Federal Reserve notes. The act also authorized the president to devalue the gold dollar so that it would have no more than 60 percent of its existing weight. Under this authority the president, on 31 January 1934, fixed the value of the gold dollar at 59.06 cents.

Cross posted fromThe Stars Hollow Gazette

Up with Chris Hayes panelists Colonel Jack Jacobs, MSNBC military analyst; Karam Nachar, an activist who has been working with opposition leaders in Syria; Jeremy Scahill of The Nation magazine; and Josh Treviño of the Texas Public Policy Foundation, discuss the international community’s inability to reach a consensus on how to stop President Bashar Al-Assad’s crackdown on protests in Syria.

In the second segment, the panel discusses whether civil war is inevitable in Syria, and whether there’s anything the United States and the world can do to stop it.

Syria’s President Bashar Assad, who took over power from is father in 2000, denied that government forces took part in last week’s gruesome Houla massacre and is accusing outsiders for fueling terrorists and extremist in the unrest that started 14 months ago.

In his hourlong address, Mr. Assad offered no specific response to Mr. Annan’s plea for bold steps to end the conflict.

Instead he repeated many of his earlier pledges to maintain a crackdown on opponents he described as terrorists added by interfering foreign governments and he again offered to sit down with opposition figures who have avoided armed conflict or outside backing.  [..]

Last month’s massacre in Houla of 108 people, mostly women and children, triggered global outrage and warnings that Syria’s relentless bloodshed – undimmed by Mr. Annan’s April 12 cease-fire deal – could engulf the Middle East.

Western powers have accused Syrian forces and pro-Assad militia of responsibility for the May 25 Houla killing, a charge Damascus has denied.

On Saturday, fighting killed 89 people, including 57 soldiers

The casualties also included 29 civilians and three army defectors killed in various regions of the country in shelling by regime forces or in clashes or gunfire, said the Syrian Observatory for Human Rights.

Asked about the high number of troops killed in recent days, the Observatory’s Rami Abdel-Rahman told AFP: “This relates to the sharp increase in clashes across the country. Troops are vulnerable to heavy losses because they are not trained for street battles and are therefore exposed to attacks.”

France has stated that it will not intervene in military action unless it is sanctioned by the United Nations:

French Defense Minister Jean-Yves Le Drian told an Asian security summit Sunday that the international community should increase sanctions and pressure in an effort to oust Syrian President Bashar Assad. An anti-government uprising has raged for more than a year in Syria.

The conflict is now spreading cross boarder into Lebanon with some heavy fighting in Lebanon:

Bloody clashes between pro- and anti-Syrian regime fighters raged on early Sunday in Tripoli, Lebanon, a day after the deadliest outburst of violence there in recent weeks indicated Syria’s turmoil continues spilling across borders.

Twelve people were killed and about 50 were wounded in fighting on Saturday, the state-run National News Agency reported. [..]

Clashes in both nations pit Sunnis, who make up the majority of the Syrian opposition and population, against Alawites and other Shiites, who are dominant in Syrian President Bashar al-Assad’s government.

There is no easy solution.

Cross poated from The Stars Hollow Gazette

The vote to recall Wisconsin’s Republican Tea Party Governor Scott Walker is tomorrow. The latest Public Policy Polling results has his challenger Milwaukee Mayor Tom Barrett with a slight lead over Walker:

   PPP’s final poll on the Wisconsin recall finds Scott Walker ahead, but also a race that’s tightening. Walker leads Tom Barrett 50-47. That’s down from 50-45 on a PPP poll conducted three weeks ago and it’s also down from a 52-45 lead that Walker posted in a Marquette Law poll released last week.

   Barrett is actually winning independent voters by a 48-46 margin. The reason he continues to trail overall is that Republicans are more excited about voting in Tuesday’s election than Democrats are. Our projected electorate voted for Barack Obama by only 7 points, even though he took the state by 14 in 2008. If the folks who turn out on Tuesday actually matched the 2008 electorate, Barrett would be ahead of Walker by a 50-49 margin. It’s cliche but this is a race that really is going to completely come down to turnout.

This week’s Up with Chris Hayes devoted its first segments to what is at stake for not only Wisconsin but the rest of the country.

Up with Chris Hayes panelists Michael Steele, former chairman of the Republican National Committee; Randi Weingarten, president of the American Federation of Teachers; Michelle Bernard, founder, president and CEO of The Bernard Center for Women, Politics and Public Policy; and Bob Herbert, former New York Times columnist and now a distinguished senior fellow at the progressive think tank Demos, discuss the ferocious recall election in Wisconsin, and its implications for national politics.

John Nichols, Washington correspondent for The Nation, joins thepanel to talk about the tidal wave of dark money flowing in from special interests in the Wisconsin recall election.