Timothy B Lee over at Vox yesterday, wrote a very neutral discussion of TPP, The Trans-Pacific Partnership Is Great for Elites. Is It Good for Anyone Else? And it is still a blood bath. The answer is: no. It is not good for anyone else. Let’s just discuss the one positive section in Lee’s article, “Trade Liberalization Has Modest but Real Benefits.” According to an estimate by the Peterson Institute for International Economics, in a decade, the TPP will add a half a percent to our GDP. Now that is down there in the noise — literally so if you look at the variation of GDP after subtracting the trend line.
But we don’t even need to think about the size of this. After all, a half percent of GDP would come out to roughly $77 billion in 2025. That’s still a lot of money. That would represent decent paying jobs for a million American workers. The problem is that the $77 billion is not going to go to workers. We’ll be lucky to get a hundred thousand minimum wage jobs out of this. In fact, let’s take a nice little statistic from our friend Bernie Sanders:

That first statistic is stunning. It comes from a Brookings Institution speech back in February, “In fact, the latest information that we have shows that in recent years, over 99 percent of all new income generated in the economy has gone to the top 1 percent.” The fact-checker at The Washington Post had a bit of a problem with it, but it was mostly along the usual lines where liberals have to be found wanting, so the complaint is that not everyone agrees with the study cited. Check out the whole article — most especially including Sanders’ response.
Let’s assume that the $77 billion will be similarly partitioned. That means, the top 1% will get $76.23 billion and the bottom 99% will get $77 million. Now we know that isn’t reasonable. Most likely, the top 10% will get it all and then some, while the bottom 90% actually fall further behind. But let’s just suppose that the $77 million will go to minimum wage workers. The current minimum wage is $7.25 per hour. Assuming a 2% inflation rate, the minimum wage would be $8.83 in 2025. This too is a joke, of course; the minimum wage is worth a dollar less than it was in 1956. But I’m being generous. Let’s assume $8.83. That’s a full time salary of $17,675 per year. That’s a big ol’ 4,356 new minimum wage jobs — or approximately 200 more McDonald’s franchises.
I’ve written about this subject before, No Trade Deals Until Our Economy Is Fixed. The fact is that I don’t care if the TPP is going to add $77 trillion to our economy. Until our economy is set up to share the fruits of our labors and our resources, it doesn’t matter. I’m not buying.
But as Lee’s article points out again and again, the TPP is not even about trade. It is about allowing the power elite to take an even bigger slice out of the economic pie. It’s about increasing the prices that we all pay for drugs and entertainment. And that extra cost will not go to employing more researchers and comedy writers. It will go to corporations to better exploit their rents. And the sad thing is that I don’t see much in the way of Democratic resistance to this. A nuclear deal with Iran — well them’s fightin’ words for Congressional Democrats. But funneling even more money to the rich? That’s just the American way! Am I right, Chuck?!
Fahd Ballan was a Syrian folk singer. I don’t know much about him, except that he was extremely popular in his day — both as a singer and as an actor (although I can find no record of his acting). He worked with the great Arabic composer and musician Farid al-Atrash in Egypt.
On this day in 1772, the economist David Ricardo was born. In Mark Blyth’s book,
Even though my background and training are in the sciences, most of my friends are more humanities kinds of people. That’s probably because science for me is just one interest. It is not dominant. If I had to choose science or literature, I’d probably pick literature. But it bugs me that pretty much no college graduate I know took calculus in college. The reason is because calculus is college level math. But because our educational system is so very bad at teaching math, that the whole system has been adjusted so that people get out of college taking just a semester of algebra or statistics. And that’s sad because math is as varied and wondrous as English literature. These students lose out.
To examine American policy in the Middle East is to reveal the rationality of US support for Israel. A proxy state, Israel aids America’s longstanding effort to control the world by controlling oil.
I was out in the front yard earlier today pulling weeds. Really, the place is starting to look like an abandoned house. And given how often I leave the house, there is something to that. Never leaving is not much different from never coming. But it is remarkable that there is so much growth going on when there is so little water. I’m been worried about the water situation here in California since I was in seventh grade when we had a big drought. Not that I minded it at the time — it meant that I didn’t have to get naked in front of a bunch of boys to shower after PE. But ever since then, I’ve seen California is always on the verge of turning into a desert.
Leave it to a business “guru” to ruin and totally misunderstand a great movie. Yesterday, while doing a Google search to go along with my article for 

On this day in 1937, the first appearance of Daffy Duck was made in the Looney Tunes short, “Porky’s Duck Hunt.” In those early shorts, Daffy is a much more likable character. He’s kind of like Bugs Bunny, but absolutely insane. He’s also a lot more like a real duck. I find him quite charming. And this sets up a long collaboration with Porky Pig. Although in subsequent shorts they are more friends or, as was more true later on, Daffy was often trying to con the trusting Porky. My favorite is “Fool Coverage” where Daffy sells Porky accident insurance that will pay a million dollars, “Provided the accident occurs as the result of a stampede of wild elephants in your own living room, on the Fourth of July — of any year — between the hours of 3:55 and 4:00 pm, during a hailstorm.” Which of course is exactly what happens.
Last week, Francis Pusok was
You may have forgotten that Big Chicken was considering a campaign for president of the United States. (Certainly, the United States had.) You may be thinking to yourself, how can anyone run for president when his stance on every public issue has to begin with the phrase, “To the best of my recollection…”? You may ask yourself, hey, isn’t this the guy whose former aides are currently singing the Alleluia chorus to various grand juries? But he’s back now with some bold thoughts about the country’s “entitlement crisis,” and it is clear that Big Chicken has signed onto granny-starving in a big way. Oh, dear Lord, Joe Scarborough and David Brooks are going to be fighting over who will be first to touch the hem of his garments.
I have never understood Marco Rubio’s appeal. To me, he’s a typical white as paste Republican. But given that he is a Cuban American, the Republicans can claim that he is a Latino and so he shows that the party has diversity. As it is, he got into the Senate because of a three-way race during a very pro-Republican year. He embarrassed himself when he gave the response to the State of the Union address. And his efforts at being a “reform” Republican were a total failure, despite being tepid. Above all, I see him as a man-boy: he seems like he ought to be the president of the college Young Republicans club.