Daily Archives: May 18, 2017

Democratic candidate for N.J. Governor Jim Johnson meets with the edit board at The Record on May 16, 2017. Mitsu Yasukawa/NorthJersey.com

Photo of Democratic candidate for N.J. Governor Jim Johnson meets with the edit board at The Record in Woodland Park on May 16th, 2017.(Photo: Mitsu Yasukawa/NorthJersey.com)

Jim Johnson, aDemocrat running for governor, envisions a liberal paradise in the post-Chris Christie New Jersey that will be achieved without pain or sacrifice -- unless, of course, you're a millionaire.

In the Johnson utopia, cash-starved public school districts will be awash in a new bounty once the school aidlaw of 2008 is fully funded for the first time in a decade. Every district will have pre-kindergarten programs.

The minimum wage will be boosted to $15, an idea also endorsed byPhil Murphy, a former Goldman Sachs executive, and Assemblyman John Wisniewski, two rivals for nomination who are peddling their own visions of a pain-free, progressive future,

Johnson is not inclined to cut benefits for public employees and retirees, even though the state pension system is on track to collapse in 10 years without sweeping reforms. He envisions tax credits to encourage developers to build affordable housing units and credits to discourage millennials from leaving New Jersey. He wants sweeping ethics reforms.

Johnson acknowledged his ambitious plans will be costly, and he pushed back on the notion that his plans won't come without sacrifice -- he calls for trimming political appointees, cutting back on corporate subsidies, for example.

"I haven't said that I'm going to get these things in the first year or the first two years,'' Johnson said during an editorial board meeting at The Record on Tuesday. "We don't have the money to do it. But I know where I want to go."

Johnson laid out his glowing vision on the same day state officials laid out the sad sack reality of the New Jersey's finances. And those numbers don't leave Johnson or his other allies with money for a liberal utopia.

Photo of Democratic candidate for N.J. Governor Jim Johnson meets with the edit board at The Record in Woodland Park on May 16th, 2017.(Photo: Mitsu Yasukawa/NorthJersey.com)

Revenues the current fiscal year, which ends in six weeks,are expected to fall $600 million below what was originally planned to come in, state officials reported Tuesday. And Christie officials also tempered revenue expectations for the next fiscal year, lowering the initial forecast by $443 million.

Those numbers do not suggest that the state is now plunging intoa fiscal crisis -- the shortfall represents a small slice of a $35 billion budget.State officials have no intention of slashing the pension payment, like Christie did when confronted by revenue shortfall in 2014. Treasury officials also plan to blunt the shortfall by dipping into the surplus and by transferring money from programs that have unspent funds.

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Yet, the dismal forecasts are not the kind on which to builddreamy visions for the coming years. Despite the improvement in New Jersey's economy, there is still not enough tax revenue pouring into the coffers to cover its year-to-year operating costs.

That suggests that the kind of boom that generated enough money to pay for a progressive utopia -- a boom like the one in the 1980s during Gov. Thomas Kean's two terms -- is not around the corner awaiting the next governor.

It comes as no surprise, then, that Johnson and the rest of the Democratic field embrace the idea of raising taxes on millionaires, a plan thwarted six times by Christie's veto pen. But that tax plan, if it does become law, would raise an estimated $600 million, roughly the same amount of the projected shortfall for the current fiscal year.

Johnson has other revenue-generating ideas, like reinstating some version of the estate tax, which was abolished in a deal Christie brokered last year that included a 23-cent hike in the gas tax. Johnson also calls for a more aggressive push for shared services and scrubbing the state finances for pockets of waste undisclosed by the Christie administration.

Johnson, a former federal prosecutor who lives in Montclair, acknowledged that he is casting a vision. And its one that the liberal, Democratic grass-roots is hungering for after 7 1/2 years of Christie's union bashing and conservative cost-cutting on programs like funding for women's health clinics.

"Part of this election is: where do you want the state to be in four years or in 10, rather than, 'how can we fix the problem of the last six years,' " Johnson said.

Yet, the problems of the past six years are the point. Without hard choices -- as in cuts in spending, an overhaul in public employee costs -- the problems of the past will haunt the liberal vision of the future.

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Stile: Jim Johnson's liberal vision comes without sacrifice - NorthJersey.com

SINGAPORE: Metallica, Guns N Roses, Coldplay, Steve Vai, Air Supply, The Temper Trap, and a whole lot more have already performed in Singapore this year. But it looks like the concert scene is just heating up, with even more big names lined up for the second half of 2017.

Beginning with Village People on Friday (May 19), there are at least 19 top international and regional acts dropping by Singapore until December. And the announcements just keep on coming.

Music-lovers, too, are embracing this wave of concerts. Artist and avid concert-goer Kristal Melson, for instance, cant wait to catch Foo Fighters. (She kept her ticket from the cancelled 2012 show as a keepsake.) Shes also considering checking out Sting, Britney Spears, and The Lemonheads Evan Dando.

Its great that we have a lot of bands that play stadium shows (here), because those like Guns N Roses, Foo Fighters, Coldplay are bands that people wait ages to come but kind of expect the shows wont happen. Ive been conditioned to think that if I want to see my fave bands, I have to travel out. So in that sense, even though tickets are expensive, theyre still more affordable than flying to, say, Australia.

For KittyWu Records co-founder Errol Tan (another Foo Fighters fan), the influx of acts coming to Singapore is a boon despite recent incidents involving scalping.

Judging from whats happened with Coldplay and Ed Sheeran, the scalping and reselling thing might be an issue. Its been an issue in US and all the mature markets, where these big acts play regularly, and now with all of them coming to Singapore, people are catching on to the whole reselling thing. Some people who really want to catch them might be on the losing end.

Nevertheless, a packed calendar bodes well for the scene, he said. Youre creating a bigger market that is hungry for live entertainment and making more people receptive to the idea of going out to catch live music, which is also helpful for the local scene.

Whether its to start saving up, working out a gameplan, or simply wringing your hands at missing out on that sold-out show, heres a list to help you keep tabs on the top acts coming to Singapore for the rest of 2017. For now.

***

VILLAGE PEOPLE (May 19 at Mastercard Theatres, Marina Bay Sands)

Time to rehearse those nifty moves when the folks behind classic disco hits like YMCA, In The Navy, and Macho Man drop by for a concert celebrating their 40th anniversary. And you get an extra treat, too theyre bringing along ABBA tribute group Bjorn Again to share the stage with them.

STING (May 28 at Singapore Indoor Stadium)

The English singer-songwriter returns in a concert in support of 57th & 9th, his first rock album in 13 years. Hes also got a couple of guests in tow Tex-Mex band The Last Bandoleros and his son-singer-songwriter Joe Sumner.

EVAN DANDO (June 6 at Hood Bar and Cafe)

The frontman of 1990s alt-rock band The Lemonheads (Its A Shame About Ray, Car Button Cloth) will be in town for his first ever solo set in Singapore.

A-MEI (June 9 and 10 at Singapore Indoor Stadium)

After last years successful concert at the National Stadium, which drew 20,000 people, the Mandopop diva returns to Singapore with her new Utopia 2.0 Carnival World Tour, which also commemorates two decades of her music career. Shell be doing her classic hits (including a 40-minute remix performance).

G-DRAGON (June 24 and 25 at Singapore Indoor Stadium)

K-pop fans wont get enough of Big Bangs big boss hell be here as part of his ACT III, M.O.T.T.E. world tour. And to make up for the fact that its been four years since his last visit, G-Dragon is doing two shows.

THE XX (July 25 at Singapore Indoor Stadium)

Another act who hasnt been here for a couple of years, the 2010 Mercury Prize-winning indie band is doing their biggest show in Singapore to date, with guest performer singer-songwriter Sampha.

BRITNEY SPEARS (June 30 at Singapore Indoor Stadium)

The last time she was in town, Britney was a teenager. Well, this global pop icon (and on-off controversy magnet) is definitely not a girl anymore but were not complaining. One of the years highly anticipated concerts.

SUNGHA JUNG (July 22 at Kallang Theatre)

Anyone who has ever checked out his online videos (or any of his past six shows here), knows this fingerstyle guitar virtuoso-slash-online sensation will be a treat to watch. Check out his YouTube channel to see what were talking about.

SHOW LUO (Aug 12 at Resorts World Convention Centre)

Mandopop artiste Show Luo Zhi Xiangs back after three years as part of his Show Crazy world tour. Expect nearly 40 songs from his discography, from 2003s Show Time to 2015s Reality Show.

G.E.M. (Aug 12 and 13 at Singapore Indoor Stadium)

After previous shows at ION Orchard and Max Pavilion, the Hong Kong singer, who switches between languages and music genres, returns for her Queen Of Hearts show.

BASTILLE (Aug 14 at The Star Theatre)

Notice how many of the acts listed here return year after year? The British indie pop act is no exception, after performing at The Coliseum and last years F1 Singapore Grand Prix.

MIDNIGHT OIL (Aug 16 at The Star Theatre)

Iconic Aussie rock band is dropping by as part of their Great Circle tour, which will see the groups classic lineup literally circling the planet with never-ending gigs in their most extensive tour since the early 1990s.

FOO FIGHTERS (Aug 26 at National Stadium)

Another highly anticipated act that might have disappointed its fans after the cancellation of their 2012 gig after frontman Dave Grohls voice problems, the Foos are back 20 years after their last Singapore show. (We wonder if Dave still remembers that Nirvana gig here in the 1990s)

ARIANA GRANDE, ONEREPUBLIC, ET AL (Sept 15 to 17 at F1 Singapore GP)

Were still waiting for other September dates but we doubt anyone would come up against this annual juggernaut of an event. From pop darling Ariana Grande and OneRepublic, to Seal and Duran Duran, to EDM duo The Chainsmokers and Grammy Award-winning DJ Calvin Harris, expect good fun for three straight days.

ED SHEERAN (Nov 11 and 12 at Singapore Indoor Stadium)

Are you among the lucky ones able to get a ticket? Or are you grumbling about scalpers, or praying for a miraculous third show? Well, its still a few more months to go before the singer-songwriters back-to-back gigs so lets just keep our fingers crossed, shall we?

BELINDA CARLISLE (Nov 11 at The Star Theatre)

Another singer whos celebrating an anniversary the former lead vocalist of the Go-Gos is on a special tour to mark the 30th anniversary of her classic solo album Heaven On Earth.

HARRY STYLES (Nov 23 at The Star Theatre)

One Direction fans in Singapore, count yourselves lucky. His show here after a 2015 performance with 1D is one of only two Asian pit stops in his solo world tour.

SHAWN MENDES (Dec 9 at The Star Theatre)

His world tour is called Illuminate which seems apt as the teenage singer-songwriter from Canada will shine a light on why hes such a phenomenon.

MAYDAY (Dec 15 to 17 at Singapore Indoor Stadium)

This year marks the Taiwanese rock bands 20th anniversary and their 10th concert tour.

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From Britney Spears to Foo Fighters, Singapore's 2017 concert fever continues - Channel NewsAsia

It is ironic that the scene of collapsing economies, if not failed states, should become the iconic markers of radical economic transformation (RET). It is a bizarre calling card, not to mention the trampling on precarious lives, in the cause of an untested ideological experiment. It seems that the proponents of these icons of collapse see beauty in the smashing rather than the ugliness of the aftermath. Unleashing forces of change can become an uncontrollable beast even to the well-meaning.

It is one thing to abstract economic ideas, pluck them out of the swirl of their own reality, and hope that if you brewed an economic alchemy dust can turn into gold. Sometimes, if not many times, leftist theorists make the same mistakes as neo-liberal theorist, they describe an economic world that operates like a sort of magical machine.

In their calculus, if you threw in the right ingredients the economy automates itself into a self-perpetuating machine to complete the sequence and task. The problem is that theories are theories, not reality. Reality is much more sober and messy. Reality is a world created out of social actors and their capacities to be a countervailing force against each other determines the character and nature of an economy in different parts of the world. Sometimes theories help to obscure reality more than they uncover it.

Sometimes bold ideas are less achievable through bravado and broad sweeps of policy revolution than through pockets of experiments and convincing by learning and doing.

Vladimir Lenin learned that very hard lesson when he took out the Kulaks, hoping to smash feudal ownership, only to bring them back when the Bolsheviks tried their own RET in the early aftermath of the Bolshevik October Revolution. Lenins War Communism caused food shortages and the collapse of rural economics. Lenin did rectify the situation. He introduced the New Economic Policy (NEP) in 1922. The introduced NEP enabled Lenin to place firmly in the Russian context a mixed economy and encouraged reign investment.

Pragmatism prevailed in the face of stark reality. The NEP was abolished after Stalin came into power as it was deemed to be not socialistic enough.

A study of NEP and the reasons for Lenins need to compromise with capital without totally giving up state control over key areas of the economy is an important episode of shift in revolution Marxist policy.

The other economic policy reforms are that of China.

The disastrous period of Maoist policies such as the Cultural Revolution and The Great Leap Forward took decades of silence before Deng Xiaoping, even under the watchful eye of Mao and his Gang of Four, began a process of reform. Chinas economy and industrial capabilities had been degraded. Deng had to rebuild Chinas industrial base and scientific capabilities.

China experimented a lot with policy reforms if you consider dual pricing, allowing households in rural areas to open village enterprises and the creation of special economic zones in certain parts of China before it universalised policy reforms across the country. Embedded in this logic of reform is understanding the empirical effects of reform rather than running with abstract readings of revolutionary economic theory.

Strategic economics in which national aspirations and long-term objectives of economic sovereignty are the intended goals have to take into account established interests both internally and externally. The more diverse and integrated an economy is within a global system the more shifting from an exclusive to an inclusive economy becomes a harder walk than an easy one.

Economic assumptions must always test their mettle against context. The calculus of change is always a slow process if you do not trust sufficiently that all the forces that can back the process of change are behind you. Or even worse the reaction to reform or revolution will be severe the severity of which you can only tell once it is in motion.

Hugo Chavez brought sweeping changes to Venezuela under the banner of neo-Bolivarianism. Many forces were aligned behind his agenda. The first of which was the loss of legitimacy of the previous government and its disastrous policies. Chavez had another good omen high oil prices that could subsidise fast-track pro-poor agenda in education, health, collectives, small-enterprise, agriculture and many other areas.

He also had a regional setting that favoured his pro-poor populist policies. These favourable leftist governments in Brazil, Cuba, Argentina, Bolivia and others that formed the Bolivarian Alliance for Americas. And, in the international setting there was also China and Russia despite the fact that the majority of Venezuelan oil was been exported to the United States. In the first few years of Chavezs rule Bolivarianism was making remarkable progress.

Today the story is different.

Bolivarianism is failing largely due to the fact that Chavez and now the Maduro era had to rely oil surpluses to pursue a pro-poor agenda which did not give enough time for Venezuela to diversify its economy to become more self-reliant. Chavez chose to spend oil revenues rather than save or seek long-term growth and returns from strategic investments in diversifying Venezuelas economy.

Oil surpluses also fostered a anti-capitalist pursuit that was a mirage of demolition rather than appreciating the capacity of capital to be resilient and able to bide time.

It is all the more ironic that as an anti-capitalist posture has pushed Venezuela to not only accumulate huge foreign debt but also have a hyper-inflated economy just as Zimbabwe did.

In the South African context control over many aspects of our mixed economy has already been established consider the disenfranchising of mining rights from private property, the nationalisation of water, the ability to influence state procurement, the state pension fund and its influential stakes in many private firms listed on the JSE, the significant capital injections in state enterprises. There is also an entire suite of regulatory provisions that if used more effectively cannot only control the abuses of capital but also harness it to move in a state-led developmental agenda. It is simple case of will-over-matter.

All of these, if there is good co-ordination, would be sufficient to pursue a strategic economic dispensation even with the presence of white monopoly capital (for which far too much mythic power is given than is warranted).

The challenge has always been to do good with these levers at the states disposal. Failure in co-ordination is often not an issue of competence but conflicting interests: some within the state seeking societal goals while others using societal goals to privatise the gains from the outflow of rents in various state deals on the offer.

The latter is often the elephant in the room.

Controlling the commanding heights of the economy, as they say, is a record that is mixed and at present combined with problems with competency and corruption state vehicles of economic transformation are bleeding money rather than growing the coffers. If anything, such an array of state control and ownership of assets has become a sort of resource curse just like states that have vast oil and gas reserves. They are turned from being sources of further productivity, growth and diversification into sources of enrichment and private gain by a predatory elite.

The state in turn becomes a consumer of capital rather than a generator of new capital and so degrading its ability to accumulate capital.

This lack of a proper appraisal over how these levers and assets have been used and how to fix the problems is a glaring omission by the RET. The thing with the RET is that it merely formalises an already tried and tested predatory system that over the last decade or more has worked out ways to privatize public spend by rigging the system.

Those who engage predatory practices are not dictated by the colour of their skin but rather carry in their soul a certain breed of callous sentiment which is being given cover by dogmatic ideologues to even call them leftist would be giving too much credit. They are at best in pursuit of a crude and unworked through nationalism.

The problem in Venezuela, and which is it is starting to emerge here, is that alienated eager stalwarts of radical economic theorists are converging with new forms of predatory capital. This unholy alliance, in South Africa, is an alliance of convenience each giving the other cover.

Their objectives are a determined control over the state apparatus the first phase of which is not about progressiveness but a power grab.

The second might well be a moral pursuit but it all depends on how this unholy alliance holds together and how much change is real change: change that benefits the intended beneficiaries or where change becomes an unmitigated disaster. On all these accounts we have no evidence but time will only tell.

You can be sure though that the power of the political entrepreneurs will be over-bearing that they will come to shape the character of the RET and leave for the dogmatics their howling of dogma if not abandonment after the RETs plundering has been exhausted: what good will that do for the poor should they continue to eat ideology rather than be given real bread and butter? DM

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Context matters more than Utopia the economics of South Africa and Venezuela - Daily Maverick