The Bush success


There is something to be said for the obvious, although we can be sure there is somewhere an economist, politician, or pundit willing to explain why the prescription suggested by Michael T. Klare, writing for the Toronto Star would not be a particularly effective palliative for the spiraling costs of oil:

… the Bush administration’s greatest contribution to rising oil prices is its steady stream of threats to attack Iran, if it does not back down on the nuclear issue. The Iranians have made it plain that they would retaliate by attempting to block the flow of Gulf oil and otherwise cause turmoil in the energy market. Most analysts assume, therefore, that an encounter will produce a global oil shortage and prices well over $200 per barrel. It is not surprising, then, that every threat by Bush/Cheney (or their counterparts in Israel) has triggered a sharp rise in prices. This is where speculators enter the picture. Believing that a U.S.-Iranian clash is at least 50 per cent likely, some investors are buying futures in oil at $140, $150 or more per barrel, thinking they’ll make a killing if there’s an attack and prices zoom past $200.

It follows, then, that while the hike in prices is due largely to ever-increasing demand chasing insufficiently expanding supply, the Bush administration’s energy policies have greatly intensified the problem. By seeking to preserve an oil-based energy system at any cost, and by adding to the “fear factor” in international speculation through its bungled invasion of Iraq and bellicose statements on Iran, it has made a bad problem much worse ….

…. And if this administration truly wanted to spare Americans further pain at the pump, there is one thing it could do that would have an immediate effect: declare that military force is not an acceptable option in the struggle with Iran. Such a declaration would take the wind out of the sails of speculators and set the course for a drop in prices.

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Obama and expectation


Economist and New York Times columnist Paul Krugman brings us, with his latest column, an assessment of Senator Barack Obama, considering the Democratic presidential candidate in the context of two other elections, those of 1980 and 1992:

It’s feeling a lot like 1992 right now. It’s also feeling a lot like 1980. But which parallel is closer? Is Barack Obama going to be a Ronald Reagan of the left, a president who fundamentally changes the country’s direction? Or will he be just another Bill Clinton? ….

…. Reagan, for better or worse — I’d say for worse, but that’s another discussion — brought a lot of change. He ran as an unabashed conservative, with a clear ideological agenda. And he had enormous success in getting that agenda implemented. He had his failures, most notably on Social Security, which he tried to dismantle but ended up strengthening. But America at the end of the Reagan years was not the same country it was when he took office.

Bill Clinton also ran as a candidate of change, but it was much less clear what kind of change he was offering. He portrayed himself as someone who transcended the traditional liberal-conservative divide, proposing “a government that offers more empowerment and less entitlement.” The economic plan he announced during the campaign was something of a hodgepodge: higher taxes on the rich, lower taxes for the middle class, public investment in things like high-speed rail, health care reform without specifics.

We all know what happened next. The Clinton administration achieved a number of significant successes, from the revitalization of veterans’ health care and federal emergency management to the expansion of the Earned Income Tax Credit and health insurance for children. But the big picture is summed up by the title of a new book by the historian Sean Wilentz: “The Age of Reagan: A history, 1974-2008.”

While there are also fundamental differences in the context of the circumstances under which the Reagan and Clinton presidencies occurred, Krugman—who during the primary often criticized Obama—is not without a valid point. Having achieved the nomination, Obama has followed a trend disturbing to American liberals, one that suggests a transformation of the candidate into a different kind of political creature. His withdrawal from public financing, while understandable in a political context, is disappointing, to say the least, for liberals hopeful of a president of principles. And his support of the recent FISA “compromise” ranges into the realm of the frustrating.
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A new kind of vigilante


In the small town of Gerald, Missouri, Bill Jakob seemed a godsend. With support from the local police department, the federal agent took on the local methamphetamine problem. Over nearly five months, the man colloquially referred to as “Sergeant Bill” led the charge, searching homes, seizing evidence, and arresting suspects in the town of less than twelve hundred, a place so wracked by the drug trade that its mayor calls the area “a meth capital of the United States”.

And then a reporter—always a pesky reporter—decided to look into the story, and what Linda Trest of The Gasconade County Republican discovered brought the whole operation to a scandalous collapse. As Monica Davey explains for the New York Times:

Sergeant Bill, it turned out, was no federal agent, but Bill A. Jakob, an unemployed former trucking company owner, a former security guard, a former wedding minister and a former small-town cop from 23 miles down the road.

The fantastic vigilante is now the target of a federal criminal investigation, and Gerald has lost three of its five police officers. The drug allegations themselves are in doubt. Seventeen plaintiffs have filed a civil rights lawsuit, and Mayor Otis Schulte is the target of of an impeachment petition.

This is your War on Drugs.
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