I am excited. Today a FedEx truck will come up my driveway bringing a 15 pound box that found its way from Japan to Louisiana to Memphis to Banjoville. Inside that box is a chrome Piccolo Saori Loom that I have been slowly making layaway payments towards since Thanksgiving.
It is a little loom but it has super big possibilities…
You may remember my big Glimakra countermarche loom is broken down and packed away in storage.
Ugh, all over “away in storage.” The loom is too big anyway to fit in the house we are living in now, so this baby should be perfect.
Under the moonlit sky,
people enjoy dancing,
casting shadows of different shapes.
Misao goes on to say that the haiku:
…implies that once born in the world, we are destined to live different lives.
She grew up following others and had become one of the majority. It was not until it finally hit her and she:
…became aware of the importance of developing a path of my own. I crawled up against a stream and found a beautiful flower garden unfolded before me. In that flower garden I learned that kansei* is inherent in everyone.
kansei*- Misao Jo use of word “meant the significance of an intuitive sense of beauty existing inside of us.”
All flowers are beautiful, even though each individual flower is different in form and color. Because of this difference, “all are good”. Because everything has the same life, life cannot be measured by a yardstick. It is this individuality that makes everything meaningful and the uniqueness of each thread that creates the tapestry of life.
Misao Jo, Founder of SAORI
So…that should give you enough information on this new path I am starting on. If you would like to see some pictures of woven Saori, look here:
More images here: Weaving Saori and Around the World Weaving on Pinterest
Okay, the rest of today’s post will be your usual newsy stuff…after the jump of course. Oh, and the pictures, woodblock, painting you see are various Japanese artwork featuring weaving or spinning. (That includes the tattooed women! Tattooing among Japan’s Ainu people .)
Don’t blame Dakinikat for the lateness of this post. I volunteered to fill in for her today and then I ended up oversleeping.
I stayed up too late watching the New England Patriots come from behind to beat the Denver Broncos on Sunday Night Football. I had pretty much given up on the Pats at halftime when they were down 24-0. But once again Patriots quarterback Tom Brady rallied his team and once again showed Peyton Manning who’s boss.
Cindy Boren sums up what happened at The Washington Post:
For most of the country, Sunday night was cold. It’s the gateway to a big holiday week and, with the Denver Broncos blowing out the hapless New England Patriots on Sunday night, why not just turn in early?
Here’s the abbreviated version of what happened while you were sleeping: Trailing 24-0 at halftime, Tom Brady and the Patriots scored 31 points in the second half, the Broncos scored to tie it and, with Bill Belichick making another of his unusual coaching decisions, the Patriots won 34-31 on a field goal that came off a turnover on a muffed punt with time running out in overtime. But it was a decision by Belichick that set up the Patriots. After winning the OT coin toss, he chose to take the wind — a stiff, brutally cutting wind — in a move that even his captains questioned.
There was a fierce wind blowing in the Boston area all day yesterday. It was coach Bill Belichick’s decision to give the ball to the Broncos, forcing Manning to either throw into the wind or and the ball off. It worked, and the Pats ended up winning on a field goal. It was incredible–only the fifth time in history a team has come back from 24 down at the half to win a game.
So, that’s my excuse for being late with the morning post. I know you’re probably not impressed . . .
Of course the weather here in New England is just a minor annoyance compared to much of the rest of the country. CNN reports: Nasty weather wallops much of U.S. just before Thanksgiving.
The wicked wintry weather that pummeled the West Coast is now barreling across the country, threatening to wreck millions of holiday travel plans just before Thanksgiving.
The storm has already contributed to at least 10 traffic fatalities.
Nearly 400 flights have been canceled in the Dallas-Fort Worth area — not exactly a bastion for snowstorms. Sleet and freezing rain will keep blanketing parts of the Southern Plains and Southern Rockies on Monday.
New Mexico may be hit with 8 inches of snow!
And it’s headed our way next:
And after the storm deluges parts of the South with rain Monday evening, it’ll start zeroing in on the Northeast, the National Weather Service said. And that could spell more travel nightmares….
An Arctic air mass will probably keep temperatures 15 to 20 degrees below normal along the East Coast through Thursday. But even if the system fails to deliver heavy snow, fierce winds could still hamper air travel, forecasters said….
Heavy rain is expected to fall from Texas to Georgia on Monday and over the Carolinas on Monday night, with some sleet and snow mixed in for northern parts of that swath. The heaviest rain is expected across parts of Mississippi, Alabama, Georgia, Florida and South Carolina.
So be careful out there–especially you Sky Dancers in the southern half of the country.
In political news, the big story is the deal that the Obama administration has struck with Iran. Israel doesn’t like it one bit, and that means there will be objections in Congress. From Bloomberg via the SF Chronicle:
Israel’s rejection of the accord reached in Geneva by Iran and six leading nations over the weekend was swift. The agreement is a “historic mistake” that leaves the world “a much more dangerous place, because the most dangerous regime in the world has taken a significant step toward attaining the most dangerous weapon,” Netanyahu said.
The first accord since the Iranian nuclear program came under international scrutiny in 2003 eases sanctions on Iran in return for concessions on its atomic work. Its six-month timetable is meant to give negotiators time to seek a comprehensive deal to halt Iranian nuclear work that they, like Israel, think is a cover to build weapons.
Israel will now focus on influencing the final deal as much as they possibly can.
“What Israel can do during this period is push the international community toward making the final deal as tough as it can, though it should do so far more quietly than it has in the past,” said Eilam, a retired brigadier-general.
U.S. Secretary of State John Kerry told CBS News in Geneva that the agreement doesn’t take the threat of force off the table and rejected Israel’s position, articulated yesterday by Defense Minister Moshe Ya’alon, that the U.S. capitulated to Iranian deceit.
The agreement is “not based on trust. It’s based on verification,” with mechanisms in place to confirm whether Iran is in compliance, he said.
Kerry actually used many Congresspeople’s opposition to loosening sanctions on Iran to push the Iranians to make a deal. From Bloomberg Businessweek:
When Secretary of State John Kerry joined the nuclear negotiations at the Intercontinental Hotel in Geneva last Saturday, he employed the oldest negotiating trick in the book, evoking Congress as the bad cop to the Obama administration’s good cop. Kerry told Iranian foreign minister Mohammad Javad Zarif that if they failed to reach an agreement that day, the Obama administration would be unable to prevent Congress from passing additional sanctions against Iran. Less than 24 hours later, Kerry and Zarif walked into the hotel lobby to announce that they had struck a deal to temporarily freeze Iran’s nuclear program.
In the face of criticism from members of Congress and the U.S.’s allies in the Middle East, Administration officials have insisted that the Geneva agreement is just the first step toward a more far-reaching disarmament deal. But such a deal will require that the Obama administration promise not just to forestall the imposition of new sanctions, but to dramatically reduce the sanctions already in place. And that depends on the cooperation of a Congress that has been singularly uninterested in assuming the role of good cop in the showdown with Iran.
The White House has some discretion to rescind the Iran sanctions without Congress’s approval. The method for removing any given set of sanctions depends on how those sanctions were passed in the first place. If they’re the product of an executive order, as many of the existing sanctions against Iran are, removing them requires only that the White House decide to stop enforcing them. That’s exactly how Obama will be making good on its promise to Iran, as part of last week’s interim agreement, to restore access to $7 billion held in foreign bank accounts….Removing sanctions that have been passed into law by Congress, however, is a much more difficult challenge. Despite the partisan gridlock in gridlock in Washington over the last several years, bipartisan majorities have managed to cooperate on three separate rounds of sanctions since 2010, including measures targeting Iran’s central bank, which Iran will undoubtedly want rescinded. Removing those laws from the books will force the White House to go through Congress all over again. That will require overcoming the partisanship and procedural hurdles that have consumed Congress in recent years.
I have to say, Obama is once again showing he has guts. If only he would use some of that to stand firm on domestic policies. The BBC reports that the Obama administration has been working toward this agreement for months through secret negotiations that SOS John Kerry was involved in while he was still chairman of the Senate Foreign Relations Committee.
I’m really curious to know what role Hillary Clinton played in these negotiations and whether she supports the deal, but I can’t find any information about that so far. Meanwhile, here’s a positive review from Mark Fitzpatrick of the International Institute for strategic studies (IISS): The surprisingly good Geneva deal.
The deal reached in the early hours of the morning in Geneva on 24 November was better than I had expected, and better than would have been the case without France’s last-day intervention at the previous round two weeks earlier. I spent much of Sunday making the rounds of TV studios and fielding print-media interviews, explaining why opponents in Israel, the Gulf and US Congress should overcome their scepticism. The more I studied the deal, the more apparent it became to me that those who knock it probably did not want any agreement at all – at least not any deal that was within the realm of possibility.
The Geneva agreement is a good deal because Iran’s capabilities in every part of the nuclear programme of concern are capped, with strong verification measures. The terms require that for the next six months, no more centrifuges can be added, none of the advanced models that were previously installed can be turned on, the stockpiles of enriched uranium cannot increase, and work cannot progress on the research reactor at Arak, which is of concern because of the weapons-grade plutonium that would be produced there. Going well beyond normal verification rules, inspectors will be able to visit the key facilities on a daily basis and even have access to centrifuge production and assembly sites.
Moreover, the most worrisome part of the programme is being rolled back. Iran is suspending 20% enrichment, which is on the cusp of being weapons-usable, and neutralising the existing stockpile of 20% product, half through conversion to oxide form and half through blending down. Although the P5+1 had earlier asked for the stockpile to be exported, these measures will virtually accomplish the same purpose by eliminating the stockpile. Reversing these measures would take time.
Time is the essential variable of this deal. The net effect of the limits Iran has accepted is to double the time it would take for it to make a dash to produce fissile material for nuclear weapons. Without a deal, the break-out time might instead soon be halved.
Read the rest at the link.
Paul Krugman has a column up about some positives on the rollout of Obamacare and California as a “test case” for the program.
Now, California isn’t the only place where Obamacare is looking pretty good. A number of states that are running their own online health exchanges instead of relying on HealthCare.gov are doing well. Kentucky’s Kynect is a huge success; so is Access Health CT in Connecticut. New York is doing O.K. And we shouldn’t forget that Massachusetts has had an Obamacare-like program since 2006, put into effect by a guy named Mitt Romney.
California is, however, an especially useful test case. First of all, it’s huge: if a system can work for 38 million people, it can work for America as a whole. Also, it’s hard to argue that California has had any special advantages other than that of having a government that actually wants to help the uninsured. When Massachusetts put Romneycare into effect, it already had a relatively low number of uninsured residents. California, however, came into health reform with 22 percent of its nonelderly population uninsured, compared with a national average of 18 percent.
Finally, the California authorities have been especially forthcoming with data tracking the progress of enrollment. And the numbers are increasingly encouraging.
Krugman says that about 10,000 people are signing up per day, and the enrollment numbers show a balance between younger, healthier enrollees and those who are older and more likely to need health care.
So . . . it’s a somewhat slow news day as we head into the holiday season, but the Iran deal will give us something to talk about while the folks in Washington take their extra long vacations. I don’t even want to think about what will happen when they get back and start clashing over the debt ceiling again.
What interesting stories are you finding out there today? Please post your links in the comment thread and have a good day despite the weather!
Yes, it may be a bit late…but at least I remembered that I was bringing you this morning’s reads! With Dak making a trip to the cloudy territory of the Northwest…Boston Boomer and I have switched days for the weekend post. So here are your morning reads for this Mid-November Saturday.
Hillary had a great speech this past week. I know that I can’t bring you the special kind of “Hillary Post” that Mona is so well know for, I would not even attempt it…but just look at some of the things our Hillary had to say:
The latest in a series of high-profile honors and speeches, Hillary Clinton said America must set an example on the global stage with women at the forefront of conflict negotiations and in leadership roles.
“Too many women around the world still face ceilings that hold them back from participating fully in every aspect of life, which, in turn, holds back entire societies,” the former secretary of state said at an event in Washington on Thursday. “And the great unfinished business of the 21st century is helping women and girls break through those ceilings, once and for all.”
“Over and over, in country after country, women have proven themselves a powerful source for peace, even in places where their political power is slight or nonexistent,” she said. “They’re often the ones who are saying ‘to end conflict we need to think about jobs and housing and schools and policing’ – all the things we know to be critical to any stable society.”
She is wonderful.
Clinton pointed to women’s’ involvement in instances of crucial crisis management throughout history – from protecting civil rights in post-apartheid South Africa to working across ethnic lines to help survivors of the Rwandan genocide.
Clinton will join Secretary of State John Kerry and former first lady Laura Bush for an event at Georgetown University on Friday focused on sustaining progress for women in Afghanistan after American troops withdraw next year.
“We cannot afford to stand by silently while the hard-won gains of the past decade are squandered and the United States must stand firmly for the rights of all afghans, women, first and foremost,” she said.
And at that event yesterday…Kerry’s advice on how to marry women like Clinton
Appearing at Georgetown University on Friday with predecessor Hillary Clinton, Secretary of State John Kerry gave some tips to the men at the school, where former President Bill Clinton also studied. “For all the men…who sat in or who sit in classrooms where Bill Clinton sat so many years ago, my advice to you is this: Study hard, go to Oxford, become governor of your state, and then maybe you can marry one of the country’s remarkable Secretaries of State,” he joked.
Kerry was full of praise for Hillary Clinton after she introduced him at the event, which focused on progress made by women in Afghanistan. Referring to her as “Madam Secretary slash Senator slash First Lady slash everything,” Kerry thanked her for her work in advocating for women and girls.
That was pretty much all there was to say about the events over at the CNN blog where those two links are from, and it was fortunate that the comments were closed early…allowing under 25 idiots to make their usually remarks.
This next link is from The New Statesman, by Samira Shackle: Can you be a Muslim and a feminist?
It is astonishing that “Muslims”, and Muslim women, are so frequently spoken about as a monolithic block. If you actually listen to what Muslim women have to say on the subject, you find that many of them have no difficulty reconciling their faith with their conviction that they, as women, should be equal citizens.
You should read the article, it is not very long, but a couple of paragraphs to note:
There is a particular breed of internet troll whose favoured technique is to take selective quotes from the Qur’an or to answer any article on Islam with “The Prophet married Aisha when she was a child!!!”. Yet this cherry-picking proves nothing. The Prophet lived in the 6th Century, and the advent of Islam vastly improved the situation for women in pre-Islamic Arabia. Moreover, most religious texts contain misogynistic elements. Judaism, Christianity, and Islam respectively originated 3,000, 2,000, and 1,450 years ago, and elements of the scripture and lore of all three reflect the times they were written in. The Torah, Bible, and Qur’an all agree that women are unclean during menstruation. The Bible says that “a woman should learn in quietness and full submission”. This is not to play tit-for-tat, but to point out that it is intensely reductive to claim that any single religion is inherently woman-hating. The Bible and the Torah are comparable to the Qur’an in their statements on women; yet one does not commonly hear that “Judaism and feminism are a contradiction in terms” or that “you cannot be a Christian and a feminist”.
In writing this article, my intention is not to detract from the very real problems suffered by many Muslim women, or to argue that sexism in Islam does not exist. It does exist, as threats against women activists in Asia and the Middle East demonstrate. As is often the case, the conservative minority shouts the loudest and essentially drowns out the liberal voices. But by saying that “Islam and feminism cannot co-exist”, you are handing a victory to that conservative faction. My intention – and this may be too nuanced for the trolls who I can already hear queuing up – is to point out that Islam and feminism are not mutually exclusive. To claim that they are is – far from “saving” these victims – to deny women their voices all over again.
Trolls…like the ones trolling those Hillary blog post over at CNN.
Anyway, that was not the only point of Shackle’s piece, but it connected to me at least, as Hillary was talking about the importance of women succeeding in the very areas that Shackle mentions.
Alright. The rest of this will be quick.
Be sure to look for the Comet ISON…I know that we have talked about this thing since last year. Comet ISON Visible To Naked Eye After Outburst Of Activity, Observers Say
Get ready for a stellar show. The much-anticipated Comet ISON is now visible to the naked eye according to reports from many observers.
Comet ISON — the potential “comet of the century” — has suddenly brightened in an outburst of activity with just two weeks to go before it literally grazes the surface of the sun.
In recent months, Comet ISON has repeatedly befuddled forecasters trying to anticipate just how bright it will ultimately become. But earlier this week, the comet’s brightening trend again seemed to sputtering and stalling, but more recent observations suggest a sudden and radical upsurge in brightness. [Photos of Comet ISON: A Potentially Great Comet]
An hour before sunrise on Monday morning, November 18, catch a sight of the elusive planet Mercury, with brightening Comets ISON and Lovejoy as a bonus.
Comet ISON lightens up, literally
Comet ISON is now in full outburst mode, becoming many times brighter over just the past few days. Astronomers measure the brightness of objects in the night sky as magnitude, in which the brighter an object is, the lower its magnitude number. The human eye can perceive objects as faint as magnitude +6.5.
According to veteran comet observer, John Bortle, Comet ISON was shining only at magnitude +8.5 on Monday (Nov. 11) morning — more than six times too dim to be visible to the unaided eye. But by Wednesday morning, the comet’s brightness had increased three-fold brightening to +7.3. [8 Essential Facts About Comet ISON]
Before dawn, use binoculars to see if you can spot Comet ISON near Spica, the brightest star in the constellation Virgo the Maiden. Finally, as darkness begins to give way to dawn, watch the planet Mercury finally climb above the horizon.
Did you all hear about this survey from Pope Francis? Pope Francis sends out survey to ask Catholics about gay sex, abortion and contraception (Shame there was nothing there about pedophile priest and cover-ups but..)
Pope Francis is urging members of the Catholic church to fill in a survey on the Vatican’s current teachings regarding contraception, homosexuality and access to communion for the divorced, to see how hard it is to practice what the church preaches in a modern day world.
The unique questionnaire, launched earlier this month, aims to determine how Christians feel about issues such as gay marriage and whether they feel such teachings are practical.
Feedback is expected to highlight the difference between Church teachings and the behaviour of its followers.
Read more details about the survey at the link.
Which is funny when you see what Bill Maher does with it:
Sarah Palin made some provocative remarks about how liberal the Pope is this week, and despite her apology, Bill Maher found the whole thing way too amusing, and proceeded to show off a mock Twitter feud between Pope Francis and the former Alaska governor.
Video at that link…
Or, you can read about it at this link…Maher: If Palin thinks the Pope is too liberal, ‘wait until she sees what Jesus has been saying’ | The Raw Story But this “tweet” from the Pope to Palin is perfect:
“Dear Sister,” Maher’s Pope replied, “how about a little more silent meditation from you? #AmIRightPeople?”
Last week, on TCM showing of Chapter 11: The story of Film one of the people interviewed was screenwriter/poet Javed Akhtar who co-wrote the famous epic Sholay with Salim Khan. He was talking about the film and innovation and he said something so poignant, poetic and simple that it gave me goosebumps. I tried to find the clip, but I could not…however I did find someone who must have felt that his description of art was as powerful as I did.
excerpted from an interview with writer Javed Akhtar in Mark Cousins’ documentary “The Story of Film” (2011)
“You must have seen children playing with a string and a pebble. They’re tying a string to a pebble and they start spinning it over their head. And slowly they keep leaving [makes motion of lowering grip] the string, and it makes bigger and bigger circle. Now, this pebble is the revolt from the tradition. It wants to move away. But the string is the tradition, the continuity of the tradition. It is holding it. But if you break the string, the pebble will fall. If you remove the pebble, the string cannot go that far. This tension of tradition and revolt against the tradition are in a way contradictory but as a matter of fact it is a synthesis: you will always find the synthesis of tradition and revolt against the tradition together in any good art.”
I wish you could hear him say it…it makes it even more beautiful.
Let us end with some pictures that show Beauty in the Everyday from the Lens blog at the New York Times
There is something so poignant about Saul Leiter’s work that looking at it can feel like taking a dart to the heart. Drenched in luxuriant, saturated colors, the images instantly transport the viewer into the photographer’s shoes: peeping from beneath an awning to a snow-swept street, or through a befogged cafe window, weeping with condensation, to a man taking pause on a wintry sidewalk. Intimate and empathetic, Mr. Leiter’s photographs relay what all New Yorkers know about their roaring, daunting home: that life in the city is filled with stolen glimpses and fleeting, quietly personal and often gorgeous moments.
Flipping through a book of Mr. Leiter’s work about seven years ago, Tomas Leach, a commercial film director based in London, fell in love with the pictures. Though many of the images were more than a half-century old, Mr. Leach was struck by their timelessness and “curious, encrypted feel.”
He assumed that Mr. Leiter was a “recognized giant of photography,” but instead discovered that Mr. Leiter, now 89, was an elusive artist whose work was not widely known outside the photography world. “I was amazed,” Mr. Leach recalled. “There was nothing about this guy who’d done this clearly amazing, beautiful work.”
Be sure to take a look at that gallery of images, and have a wonderful day!
Boy did I ever get a shock when I looked out my window this morning and saw a mix of snow and rain coming down outside. Noooooo! It’s way too early for winter weather. I hope this isn’t a sign of things to come.
Now that I’ve looked at this morning’s news from the Philippines, I’m ashamed to be complaining about a little bit of freezing rain. The disaster following Typhoon Haiyan is beyond belief. ABC News talked to a 19-year-old American woman who who survived the massive storm.
Rebecca Ruth Guy, 19, was living in the city of Tacloban, which bore the full force of the winds and the tsunami-like storm surges Friday. Most of the city is in ruins, a tangled mess of destroyed houses, cars and trees.
“When the storm hit, our apartment was flooding so we tried opening the door but the flooding was already rising up to our chest,” Guy told ABC News.
Faced with a life-and-death situation, Guy’s friend smashed the window so they could climb to the roof and escape the storm surge, which is being blamed for a large part of the destruction and death.
“We got out to the roof,” she said. “The rain was coming, the winds were crazy and it was getting cold. So we ended up sandwiching together and holding onto one another for warmth, praying for protection of the people.
“The most harrowing was when I saw women and children piled under tarpaulin, and when I saw dogs skewered on gates, cars thrown into buildings, people trying to find something to eat, water to drink,” she added.
According to the article, the U.S. sent planes to evacuate Americans living in the Philippines; other residents aren’t so fortunate.
CNN is reporting that 1,774 people are dead; but that number will continue to rise.
Cebu, Philippines (CNN) – Typhoon Haiyan has killed too many people to count so far and pushed to the brink of survival thousands more who have lost everything, have no food or medical care and are drinking filthy water to stay alive.
By Tuesday, officials had counted 1,774 of the bodies, but say that number may just be scratching the surface. They fear Haiyan may have taken as many as 10,000 lives.
The storm has injured 2,487 more since it made landfall six times last Friday, the government said. It has displaced at least 800,000 people, the U.N. said Tuesday.
Unfortunately a new storm and an earthquake have hindered rescue efforts.
As authorities rush to save the lives of survivors four days after Haiyan ripped the Philippines apart, a new tropical low, Zoraida, blew in Tuesday delivering more rain, the Philippine national weather agency PAGASA reported.
Zoraida is not a strong storm, but has dumped just under four inches of rain in some places, CNN meteorologists say….
An earthquake also rattled part of the affected area. The 4.8 magnitude temblor shook San Isidro Tuesday, the U.S. Geological Survey reported.
Here are a few more links about the storm and its aftereffects:
The Week: The terrible destruction of Typhoon Haiyan. This one has a number of shocking photos like the one to the left.
CNN: How it happened: Tracing Typhoon Haiyan’s havoc in the Philippines (lots more photos at this link)
In other news, here’s one that will interest Dakinikat: Obama to Tap Treasury Official as Top Derivatives Regulator. From The New York Times Dealbook blog:
President Obama will nominate Timothy G. Massad as the new chairman of the Commodity Futures Trading Commission on Tuesday, a White House aide said, choosing the senior Treasury Department official to run an agency that polices some of Wall Street’s riskiest activity.
If confirmed by the Senate, Mr. Massad will succeed Gary Gensler, a former Goldman Sachs banker who overhauled the agency in the wake of the financial crisis. Mr. Gensler, credited with turning one of Wall Street’s laxest regulators into one of its most aggressive, must leave office at the end of the year when his term officially expires.
Mr. Massad, an assistant secretary of the Treasury who oversaw the unwinding of the government’s bailout program stemming from the financial crisis, would join the agency as it undergoes a makeover.
Bart Chilton, the agency’s most liberal commissioner, announced last week that he would soon depart. David Meister, the enforcement director who led actions against some of the world’s biggest banks, departed the agency last month. And Jill E. Sommers, a Republican commissioner, left months ago.
The vacancies have raised the stakes for Mr. Massad’s nomination. If Mr. Chilton and Mr. Gensler depart before their successors are confirmed, the five-member commission will be down to just two members: one Republican, Scott D. O’Malia, and one Democrat, Mark Wetjen.
That would not be good. I know Dakinikat is busy today, but here’s another article for her to weigh in on if she has time: Confessions of a Quantitative Easer. From Andrew Huszar at the Wall Street Journal:
I can only say: I’m sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed’s first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool for helping Main Street. But I’ve come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.
Five years ago this month, on Black Friday, the Fed launched an unprecedented shopping spree. By that point in the financial crisis, Congress had already passed legislation, the Troubled Asset Relief Program, to halt the U.S. banking system’s free fall. Beyond Wall Street, though, the economic pain was still soaring. In the last three months of 2008 alone, almost two million Americans would lose their jobs.
The Fed said it wanted to help—through a new program of massive bond purchases. There were secondary goals, but Chairman Ben Bernanke made clear that the Fed’s central motivation was to “affect credit conditions for households and businesses”: to drive down the cost of credit so that more Americans hurting from the tanking economy could use it to weather the downturn. For this reason, he originally called the initiative “credit easing.”
Huzar claims that Janet Yellen will likely continue Bernanke’s policies.
Even when acknowledging QE’s shortcomings, Chairman Bernanke argues that some action by the Fed is better than none (a position that his likely successor, Fed Vice Chairwoman Janet Yellen, also embraces). The implication is that the Fed is dutifully compensating for the rest of Washington’s dysfunction. But the Fed is at the center of that dysfunction. Case in point: It has allowed QE to become Wall Street’s new “too big to fail” policy.
More pundits are joining the anti-Hillary ranks. According to The Hill’s Alex Bolton:
Liberal leaders want Hillary Clinton to face a primary challenge in 2016 if she decides to run for president.
The goal of such a challenge wouldn’t necessarily be to defeat Clinton. It would be to prevent her from moving to the middle during the Democratic primary.
“I do think the country would be well served if we had somebody who would force a real debate about the policies of the Democratic Party and force the party to debate positions and avoid a coronation,” said Roger Hickey, co-director of Campaign for America’s Future, an influential progressive group….
Clinton raised concern among the Democratic Party’s populist base when she recently accepted an estimated $400,000 from Goldman Sachs for two speeches.
Influential progressives wonder whether someone who accepted such a large sum from one of Wall Street’s biggest investment firms could be expected to hold corporate executives accountable if elected president.
They also wonder how aggressively she’d call for addressing income inequality, which many see as one of the biggest economic problems facing the nation.
That’s odd, since Obama ran to Hillary’s right in 2008 and received more contributions from Goldman Sachs and other Wall Street firms than either Hillary or John McCain. But let’s not get caught up in facts…
Politico has taken up the suggestion from Noam Scheiber at The New Republic that Dakinikat wrote about yesterday that Elizabeth Warren should run against Hillary. Concern trolls Ben White and Maggie Haberman write:
There are three words that strike terror in the hearts of Wall Street bankers and corporate executives across the land: President Elizabeth Warren.
The anxiety over Warren grew Monday after a magazine report suggested the bank-bashing Democratic senator from Massachusetts could mount a presidential bid in 2016 and would not necessarily defer to Hillary Clinton — who is viewed as far more business-friendly — for the party’s nomination.
And the fear is not only that Warren, who channels an increasingly popular strain of Occupy Wall Street-style anti-corporatism, might win. That is viewed by many political analysts as a slim possibility. It is also that a Warren candidacy, and even the threat of one, would push Clinton to the left in the primaries and revive arguments about breaking up the nation’s largest banks, raising taxes on the wealthy and otherwise stoking populist anger that is likely to also play a big role in the Republican primaries.
So what does Warren think about all this?
A spokesperson for Warren declined to comment on whether she would consider a presidential bid against Clinton, though Warren has previously said she has no plans to run. People close to Warren note that she signed a letter from female Democratic senators urging Clinton to run in 2016. And Warren associates, mindful of any appearance of creating the narrative of a Warren-for-president campaign, have corresponded with Clinton associates to stress that they didn’t fuel the New Republic story by Noam Scheiber.
Assholes. Hey, I have an idea–why not get Kirstin Gillibrand to run against Hillary too? Of course Chris Cillizza is also rooting for Warren and Clinton to destroy each other’s chances to do anything positive about the economy:
Quick, name someone who would have a realistic chance of beating out Hillary Clinton for the 2016 presidential nomination. Martin O’Malley? Nope. Joe Biden? Maybe but probably not. Howard Dean. No way. There’s only answer to that question that makes even a little sense. And that answer is Elizabeth Warren.
And so on… bla bla bla… Don’t these idiots have anything important to write about? Like maybe jobs, children without food or health care, or the upcoming battle over the debt limit?
Thank goodness for TBogg at Raw Story: What if Elizabeth Warren went back in time and smothered Baby Hitler in his crib?
If you have been perambulating about the internet these past few days, the above is exactly the kind of linkbait bullshit narratives that are being peddled by people who have wearied talking about President of New Jerseymerica Chris Christie or whether Rand Paul was the real life inspiration for the J.L. Borges short story, Pierre Menard, Author of the Quixote. It seems that frustrated writers lacking hobbies have turned their lonely eyes to the Democratic side of the 2016 presidential election which is just around the corner, if by corner, you mean: three years from now. But with Hilary “Killary” Clinton pretty much chillaxing with the nomination ripe for the taking (providing she doesn’t rehire Mark Penn, aka The Man Who Could Fuck Up A Baked Potato) there isn’t a whole lot of tension the likes of which you can find on a daily basis on the Republican Wingnut Flavor of the Week side.
So naturally, Noam Scheiber felt obligated to create some Democratic conflict. T-Bogg responds:
I love Elizabeth Warren. I would totally have her baby if she would have me. You love Elizabeth Warren. We all love Elizabeth Warren. Someday Elizabeth Warren t-shirts may very well become as ubiquitous as Che T’s. But, outside of the hazy crazy patchouli-scented fever palaces that are the comment sections of the manic progressive websites, nobody really thinks that Warren could, would, or should run an insurgent primary campaign against Clinton. And, to be quite frank, those who think Warren should run to in order to “start a conversation” are the kind of people who have attempted this kind of thing in the past and , as my grandmother used to put it, “don’t have dick to show for it”.
Read his replies to Politico and Cillizza at the link. BTW, I wrote comment before I discovered T-Bogg’s piece. Great minds think alike, but T-Bogg expressed my reactions so much better than I could.
That should be enough to get us started on the day’s news. What stories are you following? Please post your links in the comment thread and have a terrific Tuesday!