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Digby flagged this segment from this Sunday's Fareed Zakaria GPS, and as she noted, Zakaria seems to be singing a very different tune now on whether austerity is popular with the masses in Europe than he was four years ago. And as she noted, being wrong never seems to get anyone kicked out of the club once you've gained entry as one of the Very Serious People by our corporate media.

Fareed Zakaria four years ago in a post called The Center Holds: In Britain even pain is popular":

Three weeks ago the new chancellor, 39-year-old Tory George Osborne, presented a budget that promised to get Britain’s fiscal house in order with sharp cuts in spending, coupled with tax increases. It landed in the midst of a heated debate across the industrialized world about how to best get the economy back on track. Osborne and his boss, Prime Minister David Cameron, have come down firmly on one side of this debate, hoping that a major effort to reduce the deficit will reassure bond markets and investors that Britain is a safe and compelling place to put their money.

Leaving aside the economics of this, what struck me as I spent time in Britain last week was the politics of deficit reduction. Having announced major cuts in popular programs, plus hefty tax increases, the Cameron government might be expected to be losing popularity by the day. But in fact the budget was well received by the public—though attacked ferociously from the left—and the governing coalition has actually inched up a bit in the polls.

There are several possible reasons for this. Cameron has played the public role of prime minister exceedingly well, making a pitch-perfect apology for the British Army’s wrongful use of force in Northern Ireland in 1972, and handling himself on the global stage with grace and ease. It’s also true, of course, that the effect of the cuts and taxes have not yet been felt, and when that happens, the government’s poll ratings might plunge. But clearly the honesty of the budget has resonated with voters.

It’s heartening to see a government do something that it must have thought would be deeply unpopular, and then be rewarded by the public...

I love this description of how he reacted to the commentary from his guests. Potted plant indeed:

Zakaria still rails against "entitlements" (which his earlier guest Stephen Haas described as a "cancer" to no objection from anyone) but he hasn't exactly come clean about the disastrous effects of the austerity measures in Europe that "heartened him" so strongly, has he? No, today he sits there like a potted plant while the bill of indictment rolls right over him.

But then he's a card-carrying Very Serious Person which means never having to say you're sorry.

Ain't that the truth? I don't always get a chance to watch all of his show every week, but I don't recall seeing him doing much to rebut that flawed economic study by Reinhart and Rogoff which the right has used to justify austerity as well. Most of our corporate media has done their best to ignore that, even as many of them, as Zakaria was here, have finally been forced to admit that maybe that whole push for austerity isn't working out so well.

Full transcript below the fold.

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From this Monday's Democracy Now, economist Richard Wolff is asked about Bill O'Reilly's remarks last week where he told his audience on Fox that Cyprus and other European countries are facing economic hardships because they’re so-called "nanny states." Wolff responded with a lesson in economics 101 for Bill-O:

AMY GOODMAN: Professor Wolff, before we end, I want to turn back to the crisis in Cyprus and relate it to what’s happening here. Bill O’Reilly of Fox News warned his audience last week that Cyprus and other European countries are facing economic hardships because they’re so-called "nanny states."

BILL O’REILLY: Greece, Italy, Spain, Portugal, Ireland, now Cyprus, all broke. And other European nations are close. Why? Because they’re nanny states, and there are not enough workers to support all the entitlements these progressive paradises are handing out.

AMY GOODMAN: That’s Bill O’Reilly of Fox News. Richard?

RICHARD WOLFF: You know, he gets away with saying things which no undergraduate in the United States with a responsible economic professor could ever get away with. If you want to refer to things as nanny states, then the place you go in Europe is not the southern tier—Portugal, Spain and Italy; the place you go are Germany and Scandinavia, because they provide more social services to their people than anybody else. And guess what: Not only are they not in trouble economically, they are the winners of the current situation. The unemployment rate in Germany is now below 5 percent. Ours is pushing between 7 and 8 percent. So, please, get your facts right, Mr. O’Reilly.

The nanny state, you call it, the program of countries like Germany and Scandinavia, who tax their people heavily, by all means, but who provide them with social services that would be the envy of the United States—a national health program that takes care of you, whether you’re employed or not, and gives you proper healthcare. In France, for example, the law says when you go to work, you get five weeks’ paid vacation. That’s not an option; that’s the law. You get support when you’re a new parent for your child care and so forth. They provide services. And they are successful in Germany and Scandinavia, much more than we are in the United States and much more than those countries in the south.

So they’re not broken, the south, because they’re nanny states, since the nanny states, par excellence, are doing better than everyone. The actual truth of Mr. O’Reilly is the opposite of what he says. The more you do nanny state, the better off you are during a crisis and to minimize the cost of the crisis. That’s what the European economic situation actually teaches. He’s just making it up as he goes along to conform to an ideological position that is harder and harder for folks like him to sustain, so he has to reach further and further into fantasy.

h/t Raw Story

For anyone that missed it, former Sen. Alan Simpson, one of the co-chairs of the President's now defunct deficit commission, appeared on The Daily Show earlier this month and as Sam Seder rightfully pointed out in the clip above, the interview was just awful. Stewart allowed Simpson to get away with a ton of lies on everything from who owns our debt, to whether we're in danger of becoming like Greece where no one wants to loan us money any more, to the Peterson Foundations' lies about Social Security.

Sam's exactly right here and if Stewart was going to allow Simpson on his show, he should have done a better job doing his homework first. It's really just unacceptable that he allowed his audience to listen to this much garbage out of Simpson without more of it being debunked right on the spot.

It's a little long, but well worth the time if you have it to watch it and I'd highly recommend passing it along to anyone you know who might not realize what a load of garbage Simpson and his fellow fearmongers over the so-called bond vigilantes are peddling. Seder also took Simpson to task for his ridiculous “Gangnam Style” ad he's got out there trying to convince kids to buy into this "The Can Kicks Back" campaign of theirs.

Salon's Alex Pareene did a similar take down of Stewart shortly after his appearance which you can read here: Alan Simpson spins Jon Stewart and they've got the full interview posted as well for anyone that might want to watch it.

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Here we go again with Lindsey Graham continuing to threaten to use the debt ceiling to inflict pain on the working class, or as he calls it, "saving Social Security and Medicare." Graham made this exact same threat almost a year ago where he was a little more specific about his plans for our social safety nets.

Lindsey Graham: Don't Allow Debt Ceiling to Be Raised Without Cuts and Means Testing for Social Security

Here he was on the same show, Meet the Press, again telling David Gregory that we should risk the full faith and credit of the United States of America if Democrats won't give him his pound of flesh from our senior citizens:

GREGORY: Sen. Graham, the question for you is could you vote for a bill that extended tax cuts for $250 thousand and below, extended unemployment insurance as the President wants to do and in some way delays some of these automatic spending cuts? Could you vote for that in the short term?

GRAHAM: No. If you want leaders, then you have to lead and the President's been a pathetic fiscal leader. He's produced three budgets and can't get one vote for any of his budgets. You know, Boehner will be Tip O'Neill. Obama needs to be Ronald Reagan and here's what I would vote for. I would vote for revenues, including tax rate hikes, even though I don't like them to get a... to save the country from becoming Greece.

But I'm not going to set aside the $1.2 trillion in cuts. Any hope of going over the fiscal cliff must start in the Senate. Not one Democrat would support the idea that we could protect 99 percent of Americans from a tax increase. Boehner's Plan B I thought made sense. To my Republican colleagues, the Ronald Reagan model is that if you get 80 percent of what you want, that's a pretty good day. We have the same objective of lowering taxes. I like Simpson-Bowles. Eliminate deductions, lower rates, put money on the debt. Tax rate hikes are a partisan solution driven by the President, but he's going to get tax rate hikes. […]

There will not be a big deal. The big chance for a big deal is with the debt ceiling. That's when we will have leverage to turn the country around, prevent it from becoming Greece and save Social Security and Medicare. And anybody listening to this program, I will raise the debt ceiling only if we save Medicare and Social Security from insolvency and prevent this country from becoming Greece. No more borrowing without addressing why we're in debt to begin with. That's where the real chance for change occurs, at the debt ceiling debate.

Chuck Schumer responded by reminding the viewers just how reckless Graham's remarks are and by reiterating that President Obama is not going to allow what happened the last time around to happen again. That apparently has had zero affect on Graham who is still going to go out there and stomp his feet and make ridiculous comparisons to Greece to try to scare the public, when the ones they ought to be afraid of are Graham and his fellow Republicans who are determined to continue to destroy what's left of the middle class in America and to shred every one of our social safety nets for the most vulnerable among us.

Graham feigns concern over the budget deficit now, but he never has those same concerns back when Bush was blowing mile wide holes in it with tax cuts for the rich and invading a couple of countries which he refused to put on the books. Graham's solutions never seem to include any military spending, since that's apparently the only jobs program that Republicans like -- putting military contractors to work.

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Republican South Carolina Sen. Lindsey Graham says President Barack Obama is a "small ball guy" but it's time for him to start "manning up" on cuts to earned benefits like Medicare and Social Security.

Speaking to Fox News host Martha MacCallum on Monday, Graham suggested that Republicans should not agree to tax rate hikes on the rich and should hold a debt ceiling increase hostage until Democrats agreed to "entitlement reform."

"Here's where the president is going to have a rude awakening," the senior senator from South Carolina opined. "In February or March, you have to raise the debt ceiling and I can tell you this, there's a hardening on the Republican side. We're not going to raise the debt ceiling, we're not going to let Obama borrow any more money or any American Congress borrow any more money until we fix this country from becoming Greece. And that requires significant entitlement reform to save Social Security and Medicare from bankruptcy."

MacCallum noted that Obama told business leaders last week that he would not "play that game" with Republicans because "we’ve got to break that habit" of allowing them to use the debt ceiling in budget negotiations.

"Yes, we will play that game, Mr. President, because this is not a game," Graham insisted. "The game you're playing is small ball. You're talking about raising rates on the top 2 percent that would run the government for 11 days. You just got re-elected. How about doing something big that's not liberal? How about doing something big that really is bipartisan? Every big idea he has is a liberal idea that drowns us in debt."

"How about manning up here, Mr. President, and use your mandate to bring this country together to stop us from becoming Greece?" he continued. "So when it comes debt ceiling time, Mr. President, you're going to have a Republican Party that's going to make sure we save Medicare and Social Security from bankruptcy and we save this country from becoming Greece."

Graham concluded: "He's a small ball guy. He's afraid of his own party."

A Washington Post fact check on Monday determined that Graham's assertion that Social Security, Medicare and Medicaid would go "bankrupt" was overblown because "the facts do not justify such rhetoric."

"In this case we are going to bump Graham up to Three Pinocchios," the Post's Glenn Kessler wrote. "Not only did he repeat the error of treating all of Medicare as one entity, but he did the same with Social Security. Moreover, his reference to Medicaid makes little sense, even if one has very expansive definitions of the words 'bankruptcy' and 'imminent.'"

(h/t: Think Progress)

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From this Saturday's Up With Chris Hayes, his Story of the Week is a good reminder for anyone who is not thrilled with a lot of the ugliness of our democratic process, or frustrated with dealing with the United Nations -- it sure beats the alternative.

Hayes: The beauty of process:

ABC's Martha Raddatz did, I thought, on the whole, a pretty good job moderating Thursday night's vice presidential debate, particularly when asking questions on her area of expertise, foreign policy. But her final question of the night, about the negativity and sordidness of electoral politics, really bothered me.

Here's what she asked:

I recently spoke to a highly decorated soldier who said that this presidential campaign has left him dismayed. He told me, quote, "the ads are so negative and they are all tearing down each other rather than building up the country." What would you say to that American hero about this campaign? And at the end of the day, are you ever embarrassed by the tone?

That soldier, of course, isn't alone: Lots of Americans feel the same way. I've heard the same thing from random voters I've interviewed in every campaign I've covered. And it's a recurring theme among the political press paid to cover politics to bemoan the nastiness and negativity of the thrust and parry of electoral politics. But it's an impulse we should collectively resist, because it contains the kernel of an insidious view of the value of democracy and diplomacy and bureaucracy and the manifold ways that we as human beings channel and resolve conflict in a non-violent fashion.

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For all the fearmongering we hear out of our politicians on the right about how heaven forbid we're going to turn into Greece, the one country you never hear them talk about any more is Iceland. The reason they don't is, as Cenk Uygur explained on his show this Tuesday, they took a different path than the United States after their financial crisis and nationalized the banks, threw some the people responsible for the crash in jail and bailed out the homeowners instead of worrying about only bailing out the banks. And now they're coming back and their economy is growing again.

FDL's Dave Dayden has been writing about the financial crisis in depth for some time and he visited the set of The Young Turks to discuss whether the United States should be looking to Iceland as a model to emulate as he wrote about here: Iceland Provides Blueprint for How to Deal With the Financial Crisis:

I love this story. It’s one of those that calls to mind the old Margaret Mead dictum, “Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it’s the only thing that ever has.”

Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger.

Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according to a report published this month by the Icelandic Financial Services Association.

So does the story end there? Did the people revolt and the banks give in, leading to a lower standard of living or some financial disaster or something? No. Debt deleveraging successfully brought back the Icelandic economy.

The island’s steps to resurrect itself since 2008, when its banks defaulted on $85 billion, are proving effective. Iceland’s economy will this year outgrow the euro area and the developed world on average, the Organization for Economic Cooperation and Development estimates. It costs about the same to insure against an Icelandic default as it does to guard against a credit event in Belgium. Most polls now show Icelanders don’t want to join the European Union, where the debt crisis is in its third year.

The island’s households were helped by an agreement between the government and the banks, which are still partly controlled by the state, to forgive debt exceeding 110 percent of home values. On top of that, a Supreme Court ruling in June 2010 found loans indexed to foreign currencies were illegal, meaning households no longer need to cover krona losses.

We’ve heard in this country for the past several years of housing crisis that principal forgiveness rewards bad actors and causes moral hazard, and that we can’t do that to the poor, put-upon banks. Well guess what? Debt write-downs work. They generate a wealth effect among the population, and they help to end balance-sheet recessions and bring about economic growth. What’s more, Icelandic home values came back, just 3% off their September 2008 pre-crisis level. You can take the example of Iceland or you can take the example of the rest of Europe. It’s your choice. But the facts reveal that austerity is counter-productive, while debt forgiveness is extremely productive.

More there so go read the rest. Dave's interview with Cenk below the fold.

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From this Sunday's Meet the Press, columnist and perpetual Republican apologist and Village history revisionist David Brooks, really is not happy with all of those terribly mean campaign ads being run against Mitt Romney and his time at Bain Capital by the Obama campaign.

PolitiFact took at look at the campaign ad Brooks is complaining about here and rated the ad "mostly true." And while people like Brooks can quibble about whether the steel industry was having problems already and the fact that the company went bankrupt after Romney left Bain, it doesn't change the fact that Romney's claim that this makes him some sort of "job creator" is utterly false and the fact that Bain loaded the company up with debt at the expense of the workers and the contracts they had in regard to their labor agreements and ultimately their pension funds, or that this is not the only company that Bain did this sort of thing to.

And it doesn't change the fact that if you're working somewhere with a union and a lot of seniority, Romney and his cohorts at Bain were not the people you'd want to see buy your company, since it's pretty obvious with Romney's continued disdain for unions that busting one up was just considered a plus by someone like him.

If David Brooks is so terribly concerned about who is telling the truth out on the campaign trail, maybe he should read all of the installments by Steve Benen on Romney and his multitude of lies which are long enough to make your head spin, the latest of which can be read here: Chronicling Mitt's Mendacity, Vol. XIX.

And if Brooks is also concerned about the campaigns becoming too negative or "personal" maybe he ought to spend a little more time asking Mitt Romney to tell the truth once in a blue moon, or doing more to beat back the lunacy from the birthers, like his buddy Donald Trump, who he's out campaigning with right now. Or maybe Mr. Brooks could ask Mitt Romney to say something about Rush Limbaugh and the pack of lies, bigotry and misogyny that flows out of that man's mouth every day of the week.

No, he's going to complain about a campaign ad being some sort of assault on Mitt Romney when it does tell the truth about what he thinks of the working class when it comes to them being collateral damage in the wake of making a profit off of them for his investors, which is not much.

Brooks remarks below the fold.

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Add Charlie Rose to the list of the Villagers in the media who are just dying to see more austerity for Americans and for President Obama and the Congress to make good on their "grand bargain" that they were thankfully unable to reach an agreement on last summer.

Speaker of the House John Boehner made an appearance on Rose's show on PBS Wednesday evening, part of which was re-aired on CBS the following morning. Rose allowed Boehner to give plenty of revisionist history on who was not willing to cooperate with whom during the failed negotiations last year, quoting Matt Bai's account of the collapse of the agreements which Mother Jones' David Corn debunked here: The Times Gets It Wrong on the Debt Deal.

Rose also allowed Boehner to repeat the zombie Republican lie that the upper one percent pay forty percent of income taxes, which completely distorts that actual tax rates that most Americans pay, since it ignores the percentage everyone else pays out in payroll taxes and state and local taxes. It also ignores the fact that the percentages are that high for the income tax because that one percent also happens to have almost all of the money, so of course they're paying the bulk of the taxes.

Rose also allowed Boehner to play the same game we saw from CNN's Erin Burnett the other day that Cenk Uygur went after her for, dismissing the Buffett rule as a "budget gimmick" that would do nothing meaningful to bring the deficit down, so of course that means it's not worth doing since it won't solve the entire problem.

And Rose let Boehner get away with claiming the Ryan budget will do nothing to harm the poor or our social safety nets, which we know is patently false, without calling him out for it. We're also treated to Rose asking Boehner such important questions such as whether the Speaker and President Obama ever go out and have dinner or a drink together, because we know the most important thing is for all of them to get along, as opposed to how damaging the policies Rose was pushing here are. And what would any interview be if we weren't also treated to the Greece false equivalency. Austerity!!! ... or we're going to wind up being Greece! ... as they discuss the best way to take us there.

Rough transcript below the fold.

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The economic turmoil in Greece is causing many to say enough with the old bullshit that's gone over the airwaves for so long. Giving voice to a Neo-Nazi group was too much, so this guy gets pelted with eggs and yoghurt.

via The Greek Reporter:

A Greek journalist came under fire from angry protesters while on-air on Friday night after hosting a show featuring a spokesman for the far-right political organisations Golden Dawn the previous week. According to local reports, protesters broke into the TV studio, hurling eggs and yoghurt at news presenter Panagiotis Bourchas shortly after 9.00pm.

Bourchas is covering his head as the food comes flying. He endures the messy protest for more than a minute, trying unsuccessfully to wipe off the food before shaking his head, unclipping his earpiece and walking off the set. Watch the video below: