All the news, views, and filtered excellence that’s fit to consume during your morning grumpy.
1. On Tuesday, Alan wrote a blog post about President Obama starting off the general election season on offense, rather than playing defense against Mitt Romney. I replied with the following comment:
Within weeks, the Republicans will put his ass right back on defense. They’ll attack him where he is strongest, it’s the Rove strategy.
The killing of Bin Laden will be discredited and conspiracy theories around it will make John Kerry’s Swift Boat fiasco seem tame.
Well, I appreciate a good opportunity to pat myself on the back. Within 24 hours of the release of that Obama2012 campaign video, the swiftboating of President Obama began.
On Tuesday night, Veterans for a Strong America, a political action group led by Joel Arends, a lawyer and veteran of the wars in Iraq and Afghanistan, released an ad attacking Obama for exploiting the killing of Osama bin Laden.
I’m still a little unclear, is Obama a socialist terrorist hugger who is always apologizing for America or a football spiking braggart? Anyhow, Hannity, Limbaugh and the rest of the right wing media mafia will continue pounding this home until election day. Next up? How Mitt Romney actually saved General Motors and the American Auto Industry over the objections of the Obama Administration.
2. Keep buying those Apple products!
Apple currently keeps about two-thirds of its $97.6 billion in profits abroad.
While some of Apple’s monumental success is due to the undeniable popularity of its products, the Times reports that Apple “has devised corporate strategies that take advantage of gaps in the tax code.” This has ultimately saved the company (and thus cost the public) as much as $2.4 billion a year, according to a recent study by a former Treasury Department economist.
Apple fights for favorable tax policies in the United States with a formidable army of lobbyists. According to the Center for Responsive Politics, Apple spent $2.3 million on lobbying last year and its lobbying expenditures have been steadily increasing over the past decade – in 2000, it only spent $360,000 on lobbying.
What a great American company.
3. 40 years of workers being left behind. AKA, the reason behind the Occupy movement.
From the article:
Particularly striking is the fact that for years leading up to the 1970s, productivity gains were broadly shared, as theory predicts. Then the linkage abruptly broke. What explains the shift?
Yeah, what could it have been?
“The continuing growth of the wage gap between high and middle earners is the result of various laissez-faire policies (acts of omission as well as commission) including globalization, deregulation, privatization, eroded unionization, and weakened labor standards,” he writes. “The gap between the very highest earners — the top 1 percent — and all other earners, including other high earners, reflects the escalation of CEO and other managers’ compensation and the growth of compensation in the financial sector.”
The article and the study it references note that this isn’t a global problem. It’s an American problem.
4. Here’s an article which eloquently supports a point I’ve been trying to make for at least a year. Why Facebook won’t matter in five years.
Facebook is the triumphant winner of social companies. It will go public in a few weeks and probably hit $140 billion in market capitalization. Yet, it loses money in mobile and has rather simple iPhone and iPad versions of its desktop experience. It is just trying to figure out how to make money on the web – as it only had $3.7 billion in revenues in 2011 and its revenues actually decelerated in Q1 of this year relative to Q4 of last year. It has no idea how it will make money in mobile.
Facebook was never meant to be a mobile company and they don’t have the core competencies required to become a mobile company. Now, they are about to become a public company, which means they will slowly curtail innovation and focus on shareholder return and risk mitigation. They will innovate, like most large public technology companies, through acquisitions. Even then, the street will judge those acquisitions on the short term and turn bearish on the stock if it becomes too reliant upon the strategy, which is why Mark Zuckerberg raced to acquire Instagram prior to Facebook’s IPO.
Will someone build a better social network? Probably not, but someone will invent a mobile or augmented reality technology that makes traditional social networks obsolete.
5. How would America be different if rational, realist adults were in charge, rather than emotional reactionaries?
#7. A normal relationship with Israel. Realists have long been skeptical of the “special relationship” with Israel, and they would have worked to transform it into a normal relationship. The United States would have remained committed to helping Israel were its survival ever threatened, but instead of acting like “Israel’s lawyer,” Washington would have used its leverage to prevent Israel from endlessly expanding settlements in the Occupied Territories. An even-handed U.S. approach would have taken swift advantage of the opportunity created by the 1993 Oslo Accords, and might well have achieved the elusive two-state solution that U.S. presidents have long sought. At a minimum, realists could hardly have done worse than the various “un-realists” who’ve mismanaged this relationship for the past 20 years.
Someday, we might return to a rational foreign policy, but not right now it seems.
Fact Of The Day: Homosexual behavior is found in at least 1,500 species of mammal, fish, reptile, bird, and even invertebrate. I hope those fish know that Rick Santorum believes they’re going to hell.
Quote Of The Day: “Death gives meaning to our lives. It gives importance and value to time. Time would become meaningless if there were too much of it.” – Ray Kurzweil
Video Of The Day: A Real Life Robinson Crusoe
Laugh Of The Day: “Grapes vs. Grapefruit” – Gary Gulman
Song Of The Day: “The Way I Walk” – The Cramps
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