Well, this happened! Despite promises to the contrary, Louisiana Democrat Mary Landrieu was not able to muster up enough votes to pass the Keystone XL Pipeline Approval Act. Link is to the New York Times, but prize goes to the Washington Post for the headline calling it a YOLO Vote.
Apparently, there are still people who want to go to Harvard, and they are willing to undo one of the cornerstones of civil rights to do so. The epically misnomered group the Project on Fair Representation has managed to find a client who insists that he was wrongfully denied admission to the pretentious prestigious institution on the basis of his not being denied on the basis of his race. The Project on Fair Representation is suing because, among other things, it appears to be entirely a front group for the American Enterprise Institute. The group’s last misadventure was a failed attempt to represent Abigail Fisher against the University of Texas (despite the fact that she got into and subsequently graduated from another University).
The Great Recession of 2008 began with the bursting of the housing market bubble that led to sharp cutbacks in consumer spending, specifically the sharp decline of consumption relative to spending of the bottom 95 percent. Evidently, the cause of this major decline in spending was the growing ratio of debt to income that disrupted consumer credit access. But the root cause that led to this disastrous path was the decrease of income growth rate of the bottom 95 percent while the top 5 percent enjoyed an increase in income growth rate. Like Thomas Piketty, economists Stephen M. Fazzari and Berry Z. Cynamon focus on income inequality to explain causes of the Great Recession and the incredible stagnation of U.S. economy ever since.
This week Bob Geldof and other celebrities releasted a new Band Aid song in celebration of the 30th anniversary of the original “Do They Know It’s Christmas” from 1984. The original song was released to raise funds to counter the then ongoing famine in Ethiopia. The slightly-rewritten 2014 version is designed to raise funds for the Ebola crisis in West Africa. Despite criticism from a range of actors regarding the ignorance of Africa that the original song perpetuates, the lyrics of the new version are not much different. Laura Seay at The Washington Post points out that most Africans do know when Christmas is as there are many Christians on the continent, that the song is demeaning and mostly ignores Africans and their efforts to fight Ebola, and that we do not know where the money is going.