Monday Wake Up Call/Friday fireworks

D

Departed

Guest
Charles Krauthammer: George W. Bush is our century’s Harry Truman

Charles Krauthammer | 13/04/26 | Last Updated: 13/04/25 4:58 PM ET


Clare Boothe Luce liked to say that “a great man is one sentence.” Presidents, in particular. The most common “one sentence” for George W. Bush (whose legacy is being reassessed as his presidential library opens) is: “He kept us safe.”

Not quite right. He did not just keep us safe. He created the entire anti-terror infrastructure that continues to keep us safe.

That homage was paid, wordlessly, by Barack Obama, who vilified Bush’s anti-terror policies as a candidate, then continued them as president: indefinite detention, rendition, warrantless wiretaps, special forces and drone warfare and, most notoriously, Guantanamo, which Obama so ostentatiously denounced — until he found it indispensable.

Quite a list. Which is why there was not one successful terror bombing on U.S. soil from 9/11 until last week. The Boston Marathon attack was an obvious failure, but there is a difference between 3,000 dead and three. And on the other side of the ledger are the innumerable plots broken up since 9/11.

Moreover, Bush’s achievement was not just infrastructure. It was war. The Afghan campaign overthrew the Taliban, decimated al-Qaeda and expelled it from its haven. Yet that success is today derogated with the cheap and lazy catchphrase — “He got us into two wars” — intended to spread to Afghanistan the opprobrium associated with Iraq.

As if Afghanistan was some unilateral Bush adventure foisted on the American people. As if Obama himself did not call it a “war of necessity”; and Joe Biden, the most just war since World War II.

The dilemma in Afghanistan was: What to do after the brilliant, nine-week victory? There was no good answer. Even with the benefit of seven years’ grinding experience under his predecessor, Obama got it wrong. His Afghan “surge” cost hundreds of American lives without having changed the country’s prospects.

It turned out to be a land too primitive to democratize, too fractured to unify. The final withdrawal will come after Obama’s own six years of futility.

For all the terrible cost, Bush bequeathed to Obama a strategically won war

Iraq was, of course, far more problematic. Critics conveniently forget that the invasion had broad support from the public and Congress, including from those who became the highest foreign-policy figures in the Obama administration — Hillary Clinton, John Kerry, Chuck Hagel and Biden.

And they forget the context — crumbling sanctions that would in short order have restored Saddam Hussein to full economic and regional power, well positioning him, post-sanctions, to again threaten his neighbors and restart his WMD program.

Was the war worth it? Inconclusive wars never yield a good answer. Was Korea worth it? It ended with a restoration of the status quo ante. Now 60 years later, we face nuclear threats from the same regime that was not defeated in a war that cost 10 times as many American lives as Iraq.

The Iraq War had three parts. The initial toppling of the regime was a remarkable success — like Afghanistan, rapid and with relatively few U.S. casualties.

The occupation was a disaster, rooted in the fundamental contradiction between means and ends, between the “light footprint” chosen by Gen. George Casey and the grand reformation attempted by Paul Bremer, who tried to change everything down to the coinage.

Like Bush, Harry Truman left office widely scorned, largely because of the inconclusive war he left behind
Finally, the surge, a courageous Bush decision taken against near-universal opposition, that produced the greatest U.S. military turnaround since the Inchon landing. And inflicted the single most significant defeat for al-Qaeda (save Afghanistan) — a humiliating rout at the hands of Iraqi Sunnis fighting side-by-side with the American infidel.

As with Lincoln, it took Bush years of agonizing bloody stalemate before he finally found his general and his strategy. Yet, for all the terrible cost, Bush bequeathed to Obama a strategically won war. Obama had one task: Conclude a status-of-forces agreement and thus secure Iraq as a major regional ally. He failed utterly. Iraq today is more fragile, sectarian and Iranian-influenced than it was when Bush left office — and than it had to be.

Like Bush, Harry Truman left office widely scorned, largely because of the inconclusive war he left behind. In time, however, Korea came to be seen as but one battle in a much larger Cold War that Truman was instrumental in winning. He established the institutional and policy infrastructure (CIA, NATO, Truman Doctrine, etc.) that made possible ultimate victory almost a half-century later. I suspect history will similarly see Bush as the man who, by trial and error but also with prescience and principle, established the structures that will take us through another long twilight struggle, and enable us to prevail.

Washington Post Writers Group

http://fullcomment.nationalpost.com/2013/04/26/charles-krauthammer/
 
Good article, although there is a typo in it as where it says $15 million; it was of course $15 BILLION that was ring-fenced for the project..


http://abcnews.go.com/blogs/politics/2013/04/george-w-bushs-legacy-on-africa-wins-praise-even-from-foes/



George W. Bush’s Legacy on Africa Wins Praise, Even From Foes



By Dana Hughes
@dana_hughes
Follow on Twitter

Apr 26, 2013 6:00am


Charles Dharapak/AP Photo

The George W. Bush Presidential Library dedication brought together five living presidents who have been at odds about much of the 43rd president’s foreign policy legacy, particularly the Iraq war. But they all agreed on, and offered effusive praise for, Bush’s work on Africa.

From the historic peace agreement between Sudan and South Sudan in 2005, to Bush’s work on HIV/AIDS and malaria, all the presidents, regardless of party, thanked No. 43 for his involvement in African policies and issues.

Jimmy Carter — who now runs the Carter Center, a non-profit organization whose mission is to fight for human rights, conflict resolution and global health in the world’s most impoverished countries — laid out Bush’s accomplishments, including increasing aid to the continent by more than 640% by the time he left office.

“Mr. President, let me say that I’m filled with admiration for you and deep gratitude for you about the great contributions you’ve made to the most needy people on Earth,” said Carter.

At more than $5 billion a year in humanitarian aid to Africa, President Bush has given more assistance to the continent than any other president. His administration’s aid was largely targeted to fight the major global health issues facing the continent, HIV/AIDS and malaria.

In 2003 Bush founded the President’s Emergency Plan for AIDS Relief (PEPFAR), which guaranteed $15 million to be spent over the course of five years on prevention, treatment and research on HIV/AIDS. Under the Bush administration, the U.S. was also a leader in contributing to the Global Fund on AIDS.

Though there was controversy over some of the qualifications for PEPFAR funds –up to 20% was to be spent on abstinence-focused prevention programs, and the funds could not be used for needle-sharing programs — most HIV/AIDS activists credit the program for being instrumental in turning the tide on AIDS.

Before PEPFAR, an estimated 100,000 people were on anti-retroviral drugs in sub-Saharan Africa. By the time Bush left office in 2008 that number had increased to about 2 million.

In 2005 Bush started a $1.2 billion initiative to fight malaria. He defended the request for funding in 2007, saying, “There’s no reason for little babies to be dying of mosquito bites around the world.”

At Thursday’s ceremony, President Clinton said in his travels throughout Africa he had “personally seen the faces of some of the millions of people who are alive today” because of Bush’s policies.

Even some of Bush’s most ardent critics have admitted that his foreign policy legacy on Africa continues to have a lasting effect.

U2 front-man and activist Bono, who criticized Bush on the Iraq War, nonetheless expressed his admiration for the Republican president on an appearance on the Daily Show last year, telling Stewart that Bush did an “amazing” job in the fight against the spread of HIV/AIDS in Africa.

“I know that’s hard for you to accept,” Bono said to a surprised crowd and host, “but George kind of knocked it out of the park. I can tell you, and I’m actually here to tell you that America now has 5 million people being kept alive by these drugs. That’s something that everyone should know.”

Since leaving office the former president and his wife, Laura, have continued to stay active in global health issues in Africa, now taking on cancer. The George W. Bush Institute has launched the Pink Ribbon Red Ribbon initiative to try and bring together both public and private investment to fight cervical and breast cancer in Africa and Latin America. The couple launched the program on a visit to Zambia and Bostwana in July of last year.
 
I admire the chutzpah of both you right wingers but I'm afraid that history will accord the Bush presidency the opprobrium that it rightly (sic) deserves.

Keep trying, lads!
 
LOL!

Innis, you always make me smile...

Perhaps you should direct your comment towards Bono as he seems to disagree with you..as apparently Carter and Clinton do too.. :10: :17:
 
Old Prezs stick together.
The Bono comment was joke, right, ex? You didn't really think I'd accord him much credence ('Blair and Brown, the Lennon and McCartney of British politics', remember?)
 
Why Economists Don’t Get Technology
Beyond Behavior Change


Neoclassical assumptions make many economists biased in favor of behavior changes and against the large-scale government interventions required to advance nascent energy technologies.

January 14, 2013 | Michael Lind
SHARE
Email

facebook

Tweet

Print

Google
The gap between the cultures of technology and academic economics was on display at the 2013 meeting of the American Economic Association in San Diego last Friday and Saturday. On Saturday, January 5, Rice University’s Kenneth Barry Medlock moderated a panel entitled “The Future of Energy: Markets, Technology and Policy” that featured Jim Sweeney of Stanford, Dale Jorgenson of Harvard, and Adam Sieminski of the US Energy Information Administration.

Jim Sweeney’s presentation was on “The Future Role of Energy Efficiency and Technology” but he focused on the narrow topic of using incentives or behavioral “nudges” to get people to conserve electricity. He demonstrated that decades of attempts to get people to change their behavior to conserve more electricity had shown meager results—mainly because the savings are such a negligible amount of personal disposable income—but called for renewed efforts anyway.

Harvard’s Dale Jorgenson spoke about “Comprehensive Tax Reform and Energy Policy.” He pointed out that the externalities of conventional energy generation include health-related effects (mostly caused by pollution from the burning of coal) as well as emissions of CO2 that could contribute to global warming. His prescription, repeating what he had earlier told the Senate Finance Committee, was to abolish all subsidies to particular forms of energy and create a single tax integrating a carbon tax with a tax on unhealthy pollution.

Without intending to, no doubt, the third speaker, Adam Sieminski of the US Energy Information Administration, repudiated what the two speakers had just said—or so I concluded. According to Sieminski, energy efficiency in electricity has risen significantly, chiefly as a result of the Energy Star program and advances in manufacturing. In other words, the problem of excessive electricity use identified by Sweeny is arguably a non-problem, and if it were a genuine problem, direct technological change and/or regulation would be a more effective way of approaching it than the fashionable, variable price-based “nudges” favored by Sweeney.

Sweeney then unwittingly undercut what Jorgenson had just said by pointing out that CO2 emissions by the United States as a whole are expected to remain below 2005 levels until 2040. Yes, you read that correctly—the next forty years! This is chiefly the result, not of the kind of taxation of externalities favored by Jorgenson and other academic economists, but of the technological innovations associated with fracking, which has allowed lower-carbon natural gas to be rapidly substituted for coal in the electrical utility industry. (Readers interested in more data from the EIA can find their latest annual report here).

I don’t mean to be too critical of Professor Sweeney or Professor Jorgenson, both distinguished scholars who are at the top of their fields. But the contrast between their schemes for behavior-based energy conservation and the reality of technology-driven efficiency and CO2 emissions reduction was quite striking. In theory, there is no reason why academic economists should prefer price incentives (“nudges”) or taxes on externalities to other methods of rigging markets to produce efficiency and/or innovation, such as regulation and subsidies. But a deep and widespread bias against direct government action leads today’s neoclassical economists to minimize or reject regulation and subsidies, in favor of tax-based incentives, a category that includes both a carbon tax and cap-and-trade and “nudges” or rewards for conservation-minded electricity consumers.

Here is an example of this bias. If particulate coal pollution causes health problem, an outright ban would seem to be a more straightforward way of dealing with it than a tax, but Jorgenson did not bother even to argue against a regulatory ban. A former leading White House economist expressed the dogmatism of the economic profession a few years ago, when he told a group of which I was a member: “As an economist, I prefer transparency and incentives to regulation.”

RELATED ARTICLES

AGAINST TECHNOLOGY TRIBALISM
January 31, 2013

OBAMA’S CLIMATE CUNNING
January 09, 2013

TECH BREAKTHROUGHS NEEDED TO ADDRESS GLOBAL WARMING
February 13, 2013

BREAKTHROUGH’S NORDHAUS VS. EDF’S KRUPP
March 05, 2013

CHINESE NUCLEAR AND THE FUTURE OF ENERGY INNOVATION
March 14, 2013

THE SOLAR ENERGY BUBBLE BURSTS
March 25, 2013

SHELLENBERGER ON COLBERT REPORT
February 07, 2013

This matters because the major progress that has been made toward the goals addressed by Sweeney and Jorgenson, respectively—electrical efficiency and CO2 mitigation—has been achieved overwhelmingly by direct regulation and direct subsidy of particular energy technologies, rather than by the behavior-manipulating, tax-based Rube Goldberg schemes that professors of economists are fond of dreaming up. Indeed, if Congress a few decades ago had done what Professor Jorgenson recommends and eliminated subsidies for particular energy technologies, the government assistance for the oil and gas industry in the development of fracking, the importance of which the Breakthrough Institute has documented, might never have occurred. There might never have been a fracking revolution, there might never have been large-scale substitution of natural gas for coal, and CO2 emissions levels by the US might now be climbing, instead of below 2005 levels for decades to come.

This is not to say that rational people should simply invert the prejudices of academic economists, and favor regulation and subsidy over incentives and taxation of externalities. My point is that if we want guidance about how to achieve progress in energy efficiency and mitigation of climate change, we need to bear in mind the professional biases of today’s academic economics discipline.

http://thebreakthrough.org/index.php/voices/michael-lind/why-economists-dont-get-technology/
 
Special Monday Edition.....

Euro founder calls for ‘catastrophic’ currency to be broken up

Ambrose Evans-Pritchard, The Telegraph | 13/05/06 10:20 AM ET
More from The Telegraph

The former German finance minister who helped launch the eurozone said the union is headed for 'disaster' and southern Europe will fight back against 'German hegemony sooner or later'.

Hopes that the creation of the euro would force rational economic behaviour on all sides were in vain

Oskar Lafontaine, the German finance minister at the launch of the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is “leading to disaster”.

“The economic situation is worsening from month to month and unemployment has reached a level that puts democratic structures ever more in doubt,” he said.

“The Germans have not yet realized that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later.”

He blamed much of the crisis on Germany’s wage squeeze to gain export share. On the parliamentary website of Germany’s Left Party he said that Chancellor Angela Merkel will “awake from her self-righteous slumber” once the countries in trouble unite to force a change in crisis policy at Germany’s expense.

His prediction appeared confirmed as French finance minister Pierre Moscovici Sunday proclaimed the end of austerity and a triumph of French policy, risking further damage to the tattered relations between Paris and Berlin.

“Austerity is finished. This is a decisive turn in the history of the EU project since the euro,” he told French TV. “We’re seeing the end of austerity dogma. It’s a victory of the French point of view.”

Mr Moscovici’s comments follow a deal with Brussels to give France and Spain two extra years to meet a deficit target of 3% of GDP.

The Germans have not yet realized that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later

The triumphalist tone may enrage hard-liners in Berlin and confirm fears that concessions will lead to a slippery slope towards fiscal chaos.

German vice-chancellor Philipp Rosler lashed out at the European Commission over the weekend, calling it “irresponsible” for undermining the belt-tightening agenda.

The Franco-German alliance that has driven EU politics for half a century is in ruins after France’s Socialist Party hit out at the “selfish intransigence” of Mrs Merkel, accusing her of thinking only of the “German savers, her trade balance, and her electoral future”.

It is unclear whether the EU retreat from austerity goes much beyond rhetoric. Mr Moscovici conceded last week that the budget delay merely avoids extra austerity cuts to close the shortfall in tax revenues caused by the recession. The new policy allows automatic fiscal stabilizers to kick in but France will stay the course on the original austerity. “It is not about relaxing the effort to cut spending. There will no extra adjustment just to satisfy a number,” he said.

Mr Lafontaine said he backed EMU but no longer believes it is sustainable. “Hopes that the creation of the euro would force rational economic behaviour on all sides were in vain,” he said, adding that the policy of forcing Spain, Portugal, and Greece to carry out internal devaluations was a “catastrophe”.

Mr Lafontaine was labelled “Europe’s Most Dangerous Man” by The Sun after he called for a “united Europe” and the “end of the nation state” in 1998. The euro was launched on January 1 1999. Mr Lafontaine later left the Social Democrats to found the Left Party.

http://business.financialpost.com/2013/05/06/euro-founder-calls-for-catastrophic-currency-to-be-broken-up/
 
We Liberals won't be taken in!! This from Paul Krugman in the NYT

No Redemption for George W. Bush
Tuesday, 07 May 2013 14:11 By Paul Krugman, Krugman & Co. | Op-Ed


I've been focused on economic policy lately, so I sort of missed the big push to rehabilitate President George W. Bush's image in the run-up to the opening of his presidential library in Texas recently; also, as an anti-Bushist who pointed out how terrible a president he was back when everyone else was praising him as a Great Leader, I'm kind of worn out on the subject.

But it does need to be said: Mr. Bush was a terrible president, arguably the worst ever, and not just for the reasons many others are pointing out.

From what I've read, most of the pushback against pro-Bush revisionism focuses on just how bad his policies were, from the disaster in Iraq to the way he destroyed the Federal Emergency Management Agency; from the way he squandered the budget surplus to the way he drove up the costs of Medicare, the health insurance program for older Americans. And all of that is fair.

But I think there was something even bigger, in some ways, than his policy failures: Mr. Bush brought an unprecedented level of systematic dishonesty to American political life, and we may never recover.

Think about his two main "achievements," if you want to call them that: tax cuts and the Iraq war, both of which continue to cast long shadows over our nation's destiny. The key thing to remember is that both were sold with lies.

I suppose one could make an argument for the kind of tax cuts Mr. Bush rammed through — tax cuts that strongly favored the wealthy and significantly increased inequality. But we shouldn't forget that Mr. Bush never admitted that his tax cuts did, in fact, favor the wealthy.

Instead, his administration canceled the practice of making assessments of the effects of tax changes, while their pitches to voters promoting the cuts amounted to an expert class in how to lie with statistics. Basically, every time the Bushies came out with a report, you could be sure that it was going to involve some kind of fraud, and the only question was which kind and where.

Even more important, Mr. Bush lied us into war. Let's repeat that: He lied us into war. I know, the apologists will say that "everyone" believed that Saddam Hussein had weapons of mass destruction, but the truth is that even the category "W.M.D." was a con game, lumping together chemical weapons with nukes in an illegitimate way. And any appearance of an intelligence consensus before the invasion was manufactured.

Why did the Bush administration want war? There probably was not a single reason, but can we really doubt at this point that it was partly to prepare the ground for the 2004 election? And right there you have something that should block Mr. Bush from redemption of any kind, ever: he misled us into a war that probably killed hundreds of thousands of people, and he did it in part for political reasons.

There was a time when Americans expected their leaders to be more or less truthful. Nobody expected them to be saints, but we thought we could trust them not to lie about fundamental matters. That time is now behind us.
 
80deg16minW - 6/5/2013 16:52

Special Monday Edition.....

Euro founder calls for ‘catastrophic’ currency to be broken up

Ambrose Evans-Pritchard, The Telegraph | 13/05/06 10:20 AM ET
More from The Telegraph

The former German finance minister who helped launch the eurozone said the union is headed for 'disaster' and southern Europe will fight back against 'German hegemony sooner or later'.

Hopes that the creation of the euro would force rational economic behaviour on all sides were in vain

Oskar Lafontaine, the German finance minister at the launch of the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is “leading to disaster”.

“The economic situation is worsening from month to month and unemployment has reached a level that puts democratic structures ever more in doubt,” he said.

“The Germans have not yet realized that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later.”

He blamed much of the crisis on Germany’s wage squeeze to gain export share. On the parliamentary website of Germany’s Left Party he said that Chancellor Angela Merkel will “awake from her self-righteous slumber” once the countries in trouble unite to force a change in crisis policy at Germany’s expense.

His prediction appeared confirmed as French finance minister Pierre Moscovici Sunday proclaimed the end of austerity and a triumph of French policy, risking further damage to the tattered relations between Paris and Berlin.

“Austerity is finished. This is a decisive turn in the history of the EU project since the euro,” he told French TV. “We’re seeing the end of austerity dogma. It’s a victory of the French point of view.”

Mr Moscovici’s comments follow a deal with Brussels to give France and Spain two extra years to meet a deficit target of 3% of GDP.

The Germans have not yet realized that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later

The triumphalist tone may enrage hard-liners in Berlin and confirm fears that concessions will lead to a slippery slope towards fiscal chaos.

German vice-chancellor Philipp Rosler lashed out at the European Commission over the weekend, calling it “irresponsible” for undermining the belt-tightening agenda.

The Franco-German alliance that has driven EU politics for half a century is in ruins after France’s Socialist Party hit out at the “selfish intransigence” of Mrs Merkel, accusing her of thinking only of the “German savers, her trade balance, and her electoral future”.

It is unclear whether the EU retreat from austerity goes much beyond rhetoric. Mr Moscovici conceded last week that the budget delay merely avoids extra austerity cuts to close the shortfall in tax revenues caused by the recession. The new policy allows automatic fiscal stabilizers to kick in but France will stay the course on the original austerity. “It is not about relaxing the effort to cut spending. There will no extra adjustment just to satisfy a number,” he said.

Mr Lafontaine said he backed EMU but no longer believes it is sustainable. “Hopes that the creation of the euro would force rational economic behaviour on all sides were in vain,” he said, adding that the policy of forcing Spain, Portugal, and Greece to carry out internal devaluations was a “catastrophe”.

Mr Lafontaine was labelled “Europe’s Most Dangerous Man” by The Sun after he called for a “united Europe” and the “end of the nation state” in 1998. The euro was launched on January 1 1999. Mr Lafontaine later left the Social Democrats to found the Left Party.

http://business.financialpost.com/2013/05/06/euro-founder-calls-for-catastrophic-currency-to-be-broken-up/

Anyone that understood the consequences of the Euro could see this coming...

Now we have the EU squabbling about how bad the Euro is as well..

It was a disaster waiting to happen and now it's a disaster that is only getting worse.

He's right, it's long past due that countries like Ireland, Italy, Portugal, Greece and Spain ditched it...as I've warned many times this will make Germany the most hated people in Europe..
 
Krauthammer. As one of the wisest political commentators around, we could do with an intellect like his this side of the pond. Krugman. Discredited joke figure, still punting his socialist crapola to a diminishing audience of loony-tune student trots. EU. Will end in tears and recriminations, hastened by the likes of Hollande, who is turning out to be the spectacular disaster expected and delivered by socialist governments present and past. Popcorn time, plump up the cushions, as the french lash out at all and sundry, including their own useless policy clowns.
 
80deg16minW - 8/5/2013 14:51

Galvin's Shinpads - 8/5/2013 14:49

80deg16minW - 8/5/2013 14:46

Galvin's Shinpads - 8/5/2013 13:54

The new FOX News thread!

And look at you watching.

I like reading Inni's posts, in response to you Rightys!

And I suppose you still like The Magic Roundabout too.

Is that on FOX News now? FOX News analyst, Charles Krauthammer, would make a good Zebedee!
 
[/QUOTE]

And I suppose you still like The Magic Roundabout too.[/QUOTE]

Time for bed, Florence but before you go, have a read of this and ask yourself if this reflects a modern democratic state ...

Ros Wynne-Jones in the Mirror
http://www.mirror.co.uk/news/uk-news/kick-bankers-man-remembrancer-out-1874811


Kick privileged bankers’ man The Remembrancer out of Parliament
8 May 2013 00:00

When Parliament is sitting The Remembrancer has a special seat to the right of the Speaker in the House of Commons


As Elizabeth II takes to the throne in the House of Lords for the Queen’s Speech today, a ­little-known figure will be taking his special seat close by – all the better to scrutinise every new piece of legislation for how it benefits or damages the banks.

He’s the only non-MP or civil servant with a seat in the House of Lords and House of Commons.

His job dates back to Henry VIII.

He has a budget of £5.3million, a staff bill of £500,000 – including a team of six lawyers – and he represents bankers’ interests at the heart of our democracy.

He’s called The Remembrancer.

And – as the banks get away scot free and disabled people pay for the banking crisis, as millionaires get tax cuts while poor people get taxed on how many bedrooms they have – a new campaign by pressure group Avaaz called “Kick Bankers Out of Parliament” is beginning to ask exactly why he’s still allowed the special ­privileges he has.

The shortest explanation is this: over 1,000 years, kings, queens and governments have been saved by loans from the City of London – the 1.2 square miles at the heart of Britain’s financial centre.

In exchange the City of London has extracted great privileges that still distort our ­democracy.

The current Remembrancer is a man called Paul Double, a former barrister.

He has held the post since 2003 but has never done any ­interviews about his role. A few weeks ago I contacted the City of London to ask for one.

They took several days to reply, during which Margaret Thatcher died – and then said he was busy with ­arrangements around her funeral, which took place inside City of London ­jurisdiction.

One of the Remembrancer’s roles is to appear at a ceremony involving a red cord on the City’s boundary ­whenever the Queen makes a “state entry” as she did for the funeral.

This, as it turns out, is one of the ­Remembrancer’s less troubling duties.

Nicholas Shaxson, who wrote the brilliant investigation into the City of London, Treasure Islands, calls him the “world’s oldest ­institutional lobbyist”.

As if having 18 millionaires in the Cabinet isn’t enough to advance big money’s interests, when Parliament is sitting he has a special seat to the right of the Speaker in the House of Commons.

He also has a mirror image seat in the Lords.

Shaxson says a previous ­Remembrancer boasted his role was to “oppose every bill which would interfere with the rights and privileges enjoyed by the Corporation”.

The post dates back to some trouble the City had with Henry VIII’s adviser Cardinal Wolsey commandeering the armour and plate of its livery ­companies.

In 1571, it created the post of ­Remembrancer to “remind the king of his debt” and make sure the City’s interests were never again affected by ­Parliament.

Paul Double’s modern-day role is ­officially described as “looking after the City of London Corporation’s interests in Parliament”.

The ­Corporation is the governing body of the City of London. It’s an elected body, but unlike your usual local council, it’s not just residents that vote, it’s businesses – including over 500 banks.

Its boss is the Lord Mayor – not to be confused with London Mayor Boris Johnson who presides over the Greater London Authority.

Mind you, the City’s Remembrancer, also “tracks the work of” the GLA.

In February, he went to Buckingham Palace to be made a Lieutenant of the Royal Victorian Order by Prince Charles – as part of the Queen’s Diamond Jubilee Honours.

Last year, The Bureau for ­Investigative Journalism showed the ­Remembrancer’s Office had submitted evidence to 16 separate select committees in the past 18 months, including the Treasury’s Tax Principles report.

The City of London press office said they hoped I wasn’t going to write a piece about how “mysterious” the Remembrancer is.

I replied that an interview would definitely stop him being mysterious, but my follow-up requests have been ignored.

As the ConDems’ savage cuts deepen and it becomes ever clearer who is paying the price of austerity – not the bankers who caused it but the ordinary people of Britain – Avaaz’s campaign to abolish the Remembrancer’s special privileges couldn’t be more timely.

This is no longer the era of Cardinal Wolsey, or of Wat Tyler, the peasant leader killed by the Lord Mayor and his men after challenging the City’s might.

We are no longer serfs who have to suffer an unelected vested interest at the heart of our democracy.

We have the right to tell the City to start lobbying like any other special interest group and give up its privileged status.

Like punishing those responsible for the bank crisis, abolishing The Remembrancer’s privileges would send a message to the City and banks that the most vulnerable will not pay any more for their mess.

“Over and over again we have seen that there is in this country another power than that which has its seat at Westminster,”

Clement Attlee complained bitterly of “those who control money” in 1937. More than 75 years on his words have never rung more true.

www.avaaz.org/en/bankers_out_of_parliament_uk/



 
The Remembrancer is just adding balance to the ridiculous power held by the unions. Give individuals the right to opt out of union membership without being harassed and threatened and I will agree with you.
 
A slightly more nuanced take on Krugman - critical but understanding.

Philip Inman in The Guradian


Paul Krugman's call to arms against austerity

An interview with the Nobel prize-winning economist, whose book roundly attacks the 'delusional' deficit-reduction strategy



Paul Krugman has just passed the landmark 1 million followers on Twitter. Not bad for an academic economist, albeit one with a Nobel prize under his arm, a prominent position at Princeton University, and a New York Times blog.

His following is a reward for battling the conventional wisdom that austerity can foster a recovery. From the moment Lehman Brothers was allowed to crash, it seemed that only Krugman, his compatriot Joseph Stiglitz, another Nobel prizewinner for the liberal cause, and New York professor Nouriel Roubini, who had loudly predicted the crash, consistently confronted the "austerians" in Washington, Brussels and the UK Treasury.

More than four years on, austerity is being questioned as never before, not least because most countries implementing a deficit-reduction policy have failed to grow. Krugman, his blog and comments on Twitter, have become the focal point for objectors worldwide.

Speaking to the Guardian to publicise the second edition of his book End This Depression Now, he argues that his battle will go on until policymakers realise that their reliance on deficit reduction is a "delusional" misreading of basic economics. But despite his persistent criticism, austerity remains the default position for most western governments.

For such a sophisticated thinker, Krugman's solution – which upsets some liberal supporters – is straightforward. Asked if he is concerned a splurge of borrowing will trigger a repeat of the financial bubbles that caused the crash and spur inflation as too much money chases too few goods, he is dismissive. "As far as planting the seeds of the next crisis, bear in mind that leverage is still falling, so I don't see the problem at this point," he says.

In Krugman's view, concerns about ageing populations, looming health costs, the changing nature of the workforce in a digital age and competition from Asian economies for jobs, are for another time. "Should we be having more spending? The answer must be yes. Why? Because there is plenty of slack in the labour market and investment needs to increase. To me it is clear that there is plenty of room to increase spending without increasing inflation.

"What many people fail to see is that macro economics moves much more slowly than they think. You can read academic papers from the 1930s and after you strip out the arcane academic language, they could be written today."

Speaking from his office in Princeton, Krugman says texts by economists Hyman Minsky, Michal Kalecki and most of all John Maynard Keynes show Olli Rehn, the EU's finance commissioner and other top Brussels officials are misguided in promoting austerity.

Why reinvent the wheel, he asks, when all today's economic problems were solved by theories developed in the 1930s. Minsky, for instance, argued that bankers and others simply forgot about the risks that come with higher debt levels. Forgetfulness is a cornerstone of Krugman's analysis of the crisis.

"I'd go with Minsky: that the best explanation of the crisis is simply that with the passage of time, everybody, including policymakers, forgot about the risks. The economics profession in a way was part of the same phenomenon.

"Things like real business cycle theory, which considers recessions to represent voluntary withdrawal of labour in favour of leisure, would have been rejected as obviously ludicrous when the memory of the Great Depression was still fresh, but could flourish once that memory had faded."

Five years after the crash, with memories still fresh, Rehn's failure is one of misunderstanding, a failure of intellect, he argues. Krugman dismisses concerns that Germany and the UK are run by politicians of a prime minister Angela Merkel, George Osborne and the eurocracy may represent of a class or generation who want to protect their assets at the expense of people who depend on public services.

Robert Shapiro, under secretary of commerce for economic affairs in Bill Clinton's second government and later an economic adviser to Tony Blair, says Krugman has failed to win over many policymakers because he ignores concerns about the re-emergence of a housing bubble and the failure to tackle Wall Street's power. Voters are reluctant to hand power back to governments that blindly led them into the financial crisis, even when it is not solely the politicians' fault.

"It is not irrational that support for government and government solutions has been badly damaged. Governments failed to see the crash coming along with everyone else. So small government is seductive to people who are still sensitive to government failures in the stewardship of the economy," says Shapiro.

Like Krugman, Shapiro backs the central Keynesian argument for a government spending boost, but urges him to engage with concerns from left and right about what happens to that money.

Will the money be spent wisely? "Some people say a fiscal stimulus will create a new housing bubble, but there haven't been many houses built in the last five years. They say workers have out-of-date skills. But history tells us that if you create jobs people will fill them," says Krugman.

Are central banks helping? "I wouldn't say that quantitative easing [QE] has been decisive. It is a fragile and fairly weak tool, so to ask it to override fiscal austerity is asking too much." But he wants more QE and is relaxed about inflation at 4% or 5%.

Maybe the simplicity of his message is driven by a daily bout with Tea Party representatives and assorted Republicans on his blog and straight jabs from a wide range of austerians on TV talkshows and radio phone-ins.

Recently he went head to head with David Stockman, Ronald Reagan's budget director. Stockman said much of the $1.6tn spent by the Federal Reserve as part of its QE policy was swallowed by Wall Street and simply made bankers richer. To back up his argument he pointed to JP Morgan, which made record profits last year.

Reluctant to defend profits made by banks using cheap QE funds, Krugman accused his rival of being a "cranky old man" and using "context and model-free numbers embedded in a rant".

Those who argue that extra government spending today could prove as beneficial as in the 1930s still want safeguards and a little circumspection. Krugman refuses to play ball.