It’s about the rents, stupid.

Anytime an economic thinker is confused, befuddled, or in love with his own genius, it is profitable to go back to Adam Smith, and realize that most of what has been done is footnotes to The Wealth of Nations. In the case of political economy, the desire to be free of competition and collect revenue forever based on work that was done in the past, is the single dominating factor that leads to the dissolution of free markets.

And WTF is he and Amanda Carpenter bitching about? When Bush invited the likes of right-wing propagandists like Hugh Hewitt, Neil Boortz and Glenn Beck for a sit down in the White House, I didn’t hear any hand-wringing about “collusion” or everyone getting a “fair crack at the President.”

Our financial elites can’t manage risk, but they sure know how to suck money out of the government, and pretend to be competent, at least enough to fool most of the people in congress.

Nineteen Hundred and Sixty Nine was the American Vesuvius of years, hurling so much ash in the air that the next 40 years should be called the Pompeii Era. Now, maybe, a new era begins.

big story from ProPublica/WashPost

Why were these concessions even there in the final package? What was the purpose of these concessions? Did we even really need these concessions? While I’m happy that 83% of carbon emissions will be reduced, I’m not happy about the concessions to the coal and nuclear industries. And they weren’t necessary from my point of view.

Sure, the repeated delays of the IG Report have set it up to be released in a classical pre-holiday weekend document dump. But the delays actually give me hope we might get substantively new declassifications.

Let’s keep our eyes open and use this opportunity to collect and monitor information on what is sure to be a wild ad campaign ahead. Most of all, let’s stay proactive.

Health Care. Withdrawal from Iraq. Our friend Sam Bennett on To The Contrary.

Life With Feathers starring Sylvester.  This 1945 Warner Bros. Merrie Melodies cartoon was nominated for an Academy Award for Best Short Subject.

Vocal Talent by Mel Blanc (Sylvester) and Bea Benaderet.  Directed by I. Freleng.  Produced by Edward Selzer.  Animated by Virgil Ross and  Jack Bradbury.  Written by Tedd Pierce.  Music by Carl W. Stalling.

What’s on your mind tonight?