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I’m on a mashup kick as of late, much to Heidi’s annoyance on road trips. When I get to run the radio, it’s all Girl Talk lately and she hates that stuff. Anyway, I found two more artists over the last few days. Both guys have their stuff on their web site for free.

The video above is using a mashup called Sweet Home Country Grammar which is a mashup of Sweet Home Alabama and Nelly’s Country Grammar. So far, it’s just about my favorite discovery of the past few months. The mashup is by DJ Mei-Lwun. You can download this track along with several others at his web site (click his name in the previous sentence). I also really love his mashup of Kanye West’s Jesus Walks and AC/DC’s Back in Black. The mashup is called Jesus Walked Back and He’s Black. It works really well.

The other artist I found has also been doing the mashup thing for a while. His name is Party Ben and he also has an extensive collection of his tracks on his web site. My favorites right now are Galvanize the Empire, a mashup of the Chemical Brothers’ Galvanize and the Empire March from one of the Star Wars movies, and Rehab (Can’t Help Myself), which mashes up Amy Winehouse’s Rehab and the Four Tops’ Can’t Help Myself. So good. Check out his web site, you can preview and/or download a whole ton of stuff there.

11:39 am | 3 comments
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Via Atrios, this article talks about the Steve & Barry’s chain getting close to bankruptcy. Check out how they made most of their money. I wonder if mall owners knew this and whether they would’ve changed their behavior if they did.

For the local folks, there’s a Steve and Barry’s in Waterbury, Meriden, Milford, & Trumbull.

9:34 pm | leave a comment

I posted a quick blurb yesterday about Fiorina lying about Obama’s tax policy. Carly Fiorina is an advisor to John McCain, so it’s not a surprise that she’s out there just making stuff up about Obama’s tax policy. After all, the McCain campaign is just making stuff up in general right now, so why should his advisors do anything different?

Hilzoy, who does the best job in the blogs of really breaking down policy proposals for the rest of us, has taken a closer look at the claims being made by various McCain advisors. What makes her so good is that she recognizes that most often, campaigns don’t lie but instead heavily spin individual data points. So, she tracks down the original sources for those data points and then sees if the candidate has a leg to stand on.

Her conclusion, after looking at several of these claims (by McCain himself, Douglas Holtz-Eakin, his economic advisor, Carly Fiorina, and Steve Forbes), is that these people are lying. This isn’t a word that she uses lightly, so this isn’t just partisan name calling. These folks are being dishonest. As Jay Newton-Small, of Time Magazine, said when fact-checking Fiorina’s claims:

So, when running HP did 23 million = a few hundred thousand? No wonder she got fired.

That’s the type of basic factual dishonesty going on in their explanations (the quote will make more sense if you go read the piece).

The problem right now is that the only press really covering the data here are all blogs. I’ve yet to see a piece like Jay Newton-Small’s in the print edition of Time or on the main web sites of CNN, etc. So, this means that a lot of this is about everyone being diligent about detecting this sort of dishonesty.

The trick is pretty simple: Whenever a candidate gives you a statistic or makes an assertion without explanation, be skeptical. Very skeptical. This goes for both candidates, though McCain’s camp bears extra scrutiny.

In particular, a basic familiarity with the basic demographics of the U.S. will help raise the most common red flags. Here are the key data points:

  • Population: 300 million
  • Approx. 135 million income tax returns filed (Single/Married/Joint/etc)
  • 9 million Partnership, S or C Corp returns filed
  • Median (NOT average) Household income in the United States: $44,389
  • Percentage of households making more than $250,000: 1.5% (same Wikipedia link as median income)

The income tax returns data above is from the IRS Data Book for 2007, specifically Table 2 (Excel Spreadsheet).

(random aside: There’s a tendency, especially for people in the $70K-200K income range, to think that most people are like them. Most people are not. Most people make less. Think about that household income number. Half of the country makes less than $44K per year per household. If your household makes more than around $90K, you’re in the top fifth of households in the U.S. If your household makes more than $159K or so, you’re in the top 5% of households in the U.S.)

Those data points above should be memorized by everyone, in my opinion. They form the foundational statistics of understanding policy in the U.S. Want to ballpark how much a $600 check to every taxpayer costs, just multiply by 135 million. Want to estimate whether Obama’s tax plan targeting incomes over $250,000 really affects 23 million small businesses, as McCain claims? See if there are even 23 million possible businesses in that range ((135 million + 9 million) times 1.5% = 2.16 million == no).

Granted, they won’t be hundred percent accurate. That last calculation, for example, uses the 1.5% number for household income distribution but adds in corporate returns. The more accurate numbers look even worse, actually. Read Hilzoy or Jay Newton-Small above for the nitty gritty. These numbers do work for quick back of the envelope estimation, though, and give you good starting points for further investigation. For example, what is a “small business” to the McCain people (remembering that in 2004, the definition included George W. Bush himself)?

Definitions matter, and this is one area where the blogs excel. You could do much worse than reading Obsidian Wings, quite frankly. If you added one blog to your daily reads, that should be it.

And, since I link to just about everything they write (it’s a group blog like FatMixx), here’s a look at the two candidates on Social Security. Like I said, she’s better at giving the benefit of the doubt to candidates that are ideologically opposite her, but her frustration is clear:

I would be more than happy to concede that I am wrong: that McCain has plans for raising revenues or cutting spending that I haven’t taken into account. But in order to do that, I’d have to see some concrete proposals from him. And the truth is: there aren’t any.

This is what I mean by lying. Glenn Greenwald had a great quote from Abraham Lincoln yesterday that sums “lying” up well:

I believe it is an established maxim in morals that he who makes an assertion without knowing whether it is true or false, is guilty of falsehood…

There is no way they can justify most of the claims they’re making (balancing the budget by 2013, tax policy, etc) because they haven’t done the work to outline how they will get there. It’s all assertion after assertion without any acknowledgment of fact.

Contrast this with the Obama campaign, which has detailed policy proposals on their web site and you can see why I’m voting for Obama this fall.

12:55 pm | leave a comment

Wow, if there was a chart that described the Republican’s economic goals in one, concise picture, this is it.

3:37 pm | leave a comment

More details on why McCain’s policy goal (let’s be honest here, it’s not a “plan” in any definition of that word) is a lie. It’s like they’re daring the national press to call him out on it. If they fail to do so, it’s time to stop paying any attention to the political press.

3:30 pm | leave a comment

Amy has the latest stats on home sales in our area. It does look like we’re finally experiencing some of the housing slowdown that the rest of the country is seeing. The numbers are interesting because they don’t fit what I’d expect if the market were truly in trouble. The declines are noticeable, though.

1:13 pm | 3 comments

Good post, nothing to do about the primary. It’s about the wage premium of attending college and how, even though the earning gap is as high as it’s ever been between college grads and high school grads, more people aren’t going to college. Go read it.

1:18 pm | leave a comment

If you’re looking to understand the differences between the cap and trade proposals outlined by Obama and alluded to by John McCain, this is a good place to start. While I trust Obama, and I trust Drum’s interpretation, I don’t understand the mechanism by which the issued permits under the assumed McCain proposal create a windfall for the oil companies. Granted, I haven’t had the cycles to apply any brainpower to this, so does anyone want to take a shot at explaining?

I should say, I understand why it’s cheaper for the companies in the short run to get the permits rather than bidding for them, but isn’t that just corporate welfare in the normal sense? or is that supposed to be the windfall?

Also, Drum’s explanation of how the 100% auction is less regressive depends on any legislation actually applying revenue from the auction as grants or assistance or whatever for lower income Americans. That seems hopeful, though more likely with a Democratic Congress than a Republican one. It’s still the United States Congress, however… color me skeptical.

12:10 am | leave a comment

I haven’t read this yet, just want to read it and am more likely to do so if it’s here, than in my delicious feed. (via Cogitamus)

5:02 pm | leave a comment

Interesting graphs here, focused on LA vs. the rest of the country, but there is some national data there via the Case-Schiller Composite 20 Index. The last bust took 8 years for aggregate prices to bottom out…

6:21 pm | leave a comment

I don’t have access to the WSJ, so I’m more passing this along for Ritholtz’s commentary and the comment thread attached which has a few diamonds in there. I love Ritholtz’s top line comment:

“To be blunt, I don’t think Standard & Poor has the stones.”

1:41 pm | leave a comment

The heat maps on this site are really interesting. I played around with the West Hartford/Hartford area. Things aren’t as bad as they are in some other cities. Check out California… holy crap.

6:28 pm | leave a comment

Saw this during the weekend. I can’t believe some of the developments out west. They’re huge, sprawling, cookie-cutter craziness.

2:25 pm | leave a comment

Interesting data from New York Newsday about the costs of everyday goods (using BLS data). I didn’t realize how much certain items have gone up.

3:41 pm | 1 comment

Via Kevin Drum, we have this interesting data that shows:

What it shows is the difference that the President’s party affiliation makes to the distribution of income during the four years of the president’s term. (The distributional outcomes are shown with one year’s lag.) When a Republican president is in power, people at the top of the income distribution experience much larger real income gains than those at the bottom–a difference of 1.5 percent per year going from the bottom to the top quintile in the income distribution. The situation is reversed when a Democrat is in power: those who benefit the most are the lower income groups. If you are in the bottom quintile, the difference between having a Democratic or a Republican president in office is an income gain (or loss) of more than 2 percent per year! Strikingly, compared to Republicans, Democratic presidents generate higher income gains for all income groups (although the difference is statistically significant only for lower income groups).

The series is from 1948-2005, so it’s not just limited to the last 8 years or the last 2 Presidents. It’s interesting, and a point raised repeatedly in several different studies. Focusing on employment, basic social safety nets, and those core Democratic issues seem to make a difference.

3:22 pm | leave a comment

Good primer on what CDS’s are, along with an overview of what the risks are here. (click through, then click through and read the NYTimes article).

3:20 pm | leave a comment