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Financial Factoid of the Week

The market for trading carbon emissions permits is exploding:

Global carbon market traded volumes were worth less than $1 billion in 2004, $11 billion in 2005 and over $30 billion last year, according to the World Bank.

On top of that comes a growing number of investments in green projects:

Citigroup Inc. said this month it was committing $50 billion to environmental projects over the next decade, hot on the heels of a similar, $20 billion plan announced by Bank of America.

Yglesias

Quote of the Day

Via Eric Martin, James D. Fearon’s article on “Iraq’s Civil War” in a comparative context:

In fact, there is a civil war in progress in Iraq, one comparable in important respects to other civil wars that have occurred in postcolonial states with weak political institutions. Those cases suggest that the Bush administration’s political objective in Iraq — creating a stable, peaceful, somewhat democratic regime that can survive the departure of U.S. troops — is unrealistic. Given this unrealistic political objective, military strategy of any sort is doomed to fail almost regardless of whether the administration goes with the “surge” option, as President George W. Bush has proposed, or shifts toward a pure training mission, as advised by the Iraq Study Group.

Well said. You can’t do the impossible, even with a really smart general and his smart field manual.

Politics

Number of unidentified corpses found in Baghdad spikes.

“The number of unidentified corpses discovered in Baghdad soared more than 70 percent during May,” from 441 in April to 726 last month, “according to new statistics from the Iraqi Ministry of Interior. The bodies, “many bound and shot in the head or showing signs of torture and execution,” are indicate that “sectarian killings are rising sharply as militias return to the streets after lying low during the first few months of the troop ‘surge.’”

Politics

One man stops a $475 million Iraq contract.

“A federal judge yesterday ordered the military to temporarily refrain from awarding the largest security contract in Iraq. The order followed an unusual series of events set off when a U.S. Army veteran filed a protest against the government practice of hiring what he calls mercenaries.”

The contract, worth about $475 million, calls for a private company to provide intelligence services to the U.S. Army and security for the Army Corps of Engineers on reconstruction work in Iraq. The case, which is being heard by the U.S. Court of Federal Claims, puts on trial one of the most controversial and least understood aspects of the Iraq war: the outsourcing of military security to an estimated 20,000 armed contractors who operate with little oversight.

Brian X. Scott, a 53-year-old Colorado man, filed the complaint in early April. He argues that the military’s use of private security contractors is “against America’s core values” and violates an 1893 law that prohibits the government from hiring quasi-military forces.

IraqSlogger has more.

Politics

VFW urges military to back off activists.

“The nation’s largest combat veterans group on Friday urged the military to ‘exercise a little common sense’ and call off its investigation of Iraq war veterans who wore their uniforms during war protests. ‘Trying to hush up and punish fellow Americans for exercising the same democratic right we’re trying to instill in Iraq is not what we’re all about,’ said Gary Kurpius, national commander of the 2.4-million-member Veterans of Foreign Wars.” Good for them.

Yglesias

The Architect

The most fascinating section of Jeffrey Goldberg’s look at the GOP in the summer of their discontent is the bit where erstwhile boy genius Karl Rove outlines his long-term vision:

Rove thinks that more voters now are being influenced by technology and religion. “There are two or three societal trends that are driving us in an increasingly deep center-right posture,” he said. “One of them is the power of the computer chip. Do you know how many people’s principal source of income is eBay? Seven hundred thousand.” He went on, “So the power of the computer has made it possible for people to gain greater control over their lives. It’s given people a greater chance to run their own business, become a sole proprietor or an entrepreneur. As a result, it has made us more market-oriented, and that equals making you more center-right in your politics.” As for spirituality, Rove said, “As baby boomers age and as they’re succeeded by the post-baby-boom generation, within both of those generations there’s something going on spiritually—people saying it’s not all about materialism, it’s not all about the pursuit of material things. If you look at the traditional mainstream denominations, they’re flat, but what’s growing inside those denominations, and what’s growing outside those denominations, is churches that are filling this spiritual need, that are replacing sterility with something vibrant, something that speaks to the heart of the individual, that gives a sense of purpose.” Rove believes what he has always believed: that the Christian right and, to a lesser extent, tax- and regulation-averse businessmen will continue to assure Republican victories.

The shallowness of the thinking here is striking. Ross observes that Rove seems unfazed by the fact that this vision of an increasingly market-oriented, increasingly non-materialistic society at least seems to be contradictory. Nor does Rove seem to have given any real thought to his eBay factoid; what are these people selling?

More to the point: where’s the evidence? Ronald Reagan wracked up huge majorities. George Bush has much smaller ones, and needed to soften the conservative message in order to do it. I’d say the fact that it’s now more feasible for people to “run their own business, become a sole proprietor or an entrepreneur” means people are more interested in seeing the development of a policy agenda — federal guarantees of health insurance, elder care, and basic child services — that facilitate that sort of lifestyle.

Politics

Jeb Bush ‘a poster child for gay marriage.’

“A coalition of civil rights groups that back gay marriage is using photos of prominent couples like the former Republican governor and his Mexican-born wife, Columba, in an advertising campaign marking the 40th anniversary of Loving v. Virginia, a U.S. Supreme Court decision that gave interracial couples the right to marry. The groups say they hope to use the couples and the court case to bolster their contention that marriage is a civil right that should know no bounds – even for those of the same sex.”

jebmarriage.jpg

Politics

Pelosi blasts Bush’s new climate plan.

Speaker Nancy Pelosi (D-CA) called President Bush’s new global warming plan a “profound disappointment” on Friday and “said she wants Congress to pass legislation this year to curb greenhouse gas emissions.”

Just returned from a European tour focused on climate change, Pelosi said Bush’s strategy, announced on Thursday, “rehashed stale ideas” and made her question whether the president understands the urgency of global warming.

Watch a report on Pelosi’s trip to Greenland:

[flv http://video.thinkprogress.org/2007/06/pelosiwarming61.320.240.flv]

You can read a full report on Pelosi’s trip HERE.

Security

Johnson Despairs In 1964: ‘It Looks Like We’re Getting Into Another Korea’

The White House announced this week that it “would like to see a lengthy U.S. troop presence in Iraq like the one in South Korea,” where U.S. troops have been stationed for 50 years. Defense Secretary Robert Gates endorsed the “Korea model” on Thursday, and Lt. Gen. Raymond Odierno, who oversees daily operations in Iraq, called it a “great idea.

Such enthusiasm for a protracted U.S. presence modeled after Korea is grimly ironic. Back in 1964, when “the war in Vietnam was only a small dark cloud on the very distant horizon,” President Lyndon Johnson privately told National Security Adviser McGeorge Bundy that “getting into another Korea” was the very thing he feared:

I just stayed awake last night thinking of this thing, and the more that I think of it I don’t know what in the hell, it looks like to me that we’re getting into another Korea. It just worries the hell out of me. I don’t see what we can ever hope to get out of there with once we’re committed. I believe the Chinese Communists are coming into it. I don’t think that we can fight them 10,000 miles away from home and ever get anywhere in that area. I don’t think it’s worth fighting for and I don’t think we can get out. And it’s just the biggest damn mess that I ever saw.

PBS’ Bill Moyers recently highlighted this conversation between Johnson and Bundy in a feature called Listening to History. Watch it:

As Moyers noted, “That was May 1964. Two hundred and sixty Americans had been killed in Vietnam by then. Eleven years and two presidents later, when U.S. forces pulled out, 58,209 Americans had died, and an estimated 3 million Vietnamese.”

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