Black Friday Reads
Posted: November 26, 2010 Filed under: morning reads | Tags: DADT, Elizabeth Warren, net neutrality, PCE inflation numbers October, Robosigning, thankful progressives, U.N. Food crisis 63 CommentsGood Morning!
Well, be thankful for the food in your belly!!! Did you move a size up this morning? According to the U.N. and the NYT the ‘World is “Dangerously close” to a Food Crisis’.
Global grain production will tumble by 63 million metric tons this year, or 2 percent over all, mainly because of weather-related calamities like the Russian heat wave and the floods in Pakistan, the United Nations estimates in its most recent report on the world food supply. The United Nations had previously projected that grain yields would grow 1.2 percent this year.
The fall in production puts the world “dangerously close” to a new food crisis, Abdolreza Abbassian, an economist with the United Nations Food and Agriculture Organization, said at a news conference last week.
Rising demand and lower-than-expected yields caused stocks of some grains to fall sharply and generated high volatility in world food markets in the latter half of the year. Prices for some commodities are approaching levels not seen since 2007 and 2008, when food shortages prompted riots around the world.
Got that backyard farm started yet?
At the moment, the only prices that appear to be rising on the national level are gas prices. The Dallas Fed breaks down inflation as measured by the PCE for you.
Apart from yet another sharp increase in the price of gasoline, inflationary pressures in October were as muted as we’ve seen in quite some time. Both the core PCE price index and the trimmed mean registered essentially zero inflation rates in October, each posting annualized rates of just 0.1 percent.
The 12-month core rate fell 0.3 percentage points to 0.9 percent, and the 12-month trimmed mean rate, which had been fairly stable around 1 percent for the past six months, ticked down to 0.8 percent.
To be sure, the headline PCE price index did increase at a 2.0 percent annualized rate in October, but about 90 percent of that gain is accounted for by the price index for gasoline, which jumped 4.7 percent from September to October (or about a 73 percent annualized rate of increase).
So, gasoline aside, are we seeing a downshift in the underlying trend in consumer price inflation? While today’s release certainly points in that direction, one never wants to make too much out of any one month’s numbers. In inflation updates over the past few months, we’ve stated our view that the underlying trend in inflation was stable, albeit at an extremely low level. That view evolved only with the accumulation of several months worth of data. Going forward, we’ll again be looking for patterns that are sustained over multiple months worth of data.
They have a list of things that “leading progressives” are thankful for over at New Deal 2.0. You just have to go look. Really. I mean REALLY. I’m going to stick with Dean Baker Bill Black, and James K. Galbraith because economists have to stick together. You can figure out what to do with the media personalities on your own.
“I’m grateful that we won’t have Larry Summers to kick around anymore.” – James K. Galbraith, author of The Predator State and Professor of Government, University of Texas at Austin
…
“I am grateful to Social Security, which made it possible for our family to avoid economic disaster when my father died of a second heart attack when he was 41. I am grateful to a nation in which I could be a serial whistle blower, exposing the misconduct of two presidential employees, the Speaker of the House James Wright, and the ‘Keating Five’ — and survive. And I am grateful to the Ancients, who faced a vastly crueler world and recognized that the key was for each of us to try to repair it, and whose advice has led generations to make those repairs, rather than accepting cruelty, greed, exploitation, and indifference as the natural state. I am thankful for all who came before and worked to make things better.” – Bill Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City and white-collar criminologist
…
“I am thankful for the Web. It is an enormous potential equalizer in giving progressives without money comparable input into public debate as the right-wingers with lots of money. In this vein, the Huffington Post’s webhits are going up. The Washington Post’s circulation is going down.” – Dean Baker, co-director of the Center for Economic and Policy Research
Here’s some interesting news on Net Neutrality from The Hill.
Seeking to weaken potential regulations, AT&T is actively working to complicate the Federal Communications Commission’s (FCC) renewed effort to broker a compromise on net neutrality.
Industry and Hill sources said that an AT&T official made public last week that the agency has quietly undertaken a new round of negotiation. The sources stressed that they had obtained this information through AT&T channels.
The delicate FCC effort is aimed at resolving one of the most fractious issues in tech policy. The hope was to quietly consult with industry and public interest stakeholders while insulating the negotiations from the noisy politicking the question stirs on both sides.
FCC Chairman Julius Genachowski invited industry and public interest sources to help shape a possible compromise, giving AT&T a major seat at the table. Public advocates are concerned about how much Genachowski appears to be listening to AT&T, with one saying he has practically given them “veto powers.”
Ex parte filings show that AT&T officials consulted frequently with the agency this month. Policy executive Jim Cicconi met with Genachowski’s office the day before the new net neutrality effort became public.
Politico had a story up about lesbian Air Force Major Margaret Witt who was discharged under DADT. This is another incidence involving the Obama administration’s legal stance on DADT which appears at odds with what the President says. The Air Force may seek stay of order to block Witt’s reinstatement. Her case is being followed by the ACLU.
“We foresee no problem about Major Witt getting reinstated,” Doug Honig of the ACLU’s Washington state chapter said Wednesday. “Once we discuss this with the Air Force, present evidence meeting the nursing hours requirements, and Major Witt passes the physical – all of which will happen – we would be shocked if the Air Force were suddenly to seek to stay her reinstatement.”
The Obama administration’s legal stance is likely to come as a disappointment to gay rights advocates, who took the decision not to seek a stay as an indication that the administration may no longer be mounting a full-court press to uphold the “don’t ask, don’t tell” policy written into law by Congress in 1993. Obama has pledged to repeal the law, but the Justice Department has continued to defend it, citing a tradition of Executive Branch defense of most Congressional enactments.
Regardless of whether a stay is sought, the Justice Department is appealing Leighton’s ruling, just as it is appealing another judge’s recent order that the “don’t ask” policy is unconstitutional on its face.
The decisive way in which she labored behind the scenes to stymie a bill that would have eased requirements for documentation in the foreclosure process underscores how her arrival has altered the administration’s relationship with major banks.
The bill, which passed both houses of Congress and awaited President Obama’s signature to become law, essentially would have compelled notaries to accept out-of-state notarizations, regardless of the rules in those states.
State officials across the country–who have been pursuing probes looking into wrongdoing within the foreclosure process– feared that those jurisdictions with lax standards could have become hotbeds for foreclosure documentation fraud. Lenders and mortgage companies could have used those states as central clearing houses to produce bogus foreclosure paperwork, and then export those documents to other states with more stringent regulations–an expedient bypass around the strictures.
Despite warnings from North Korea that any new provocation would be met with more attacks, Washington and Seoul pushed ahead with plans for military drills starting Sunday involving a nuclear-powered U.S. aircraft carrier in waters south of this week’s skirmish.
The exercises will likely anger the North — the regime cited South Korean drills this week as the impetus behind its attack — but the president said the South could little afford to abandon such preparation now.
“We should not ease our sense of crisis in preparation for the possibility of another provocation by North Korea,” spokesman Hong Sang-pyo quoted President Lee Myung-bak as saying. “A provocation like this can recur any time.”
At an emergency meeting in Seoul, Lee ordered reinforcements for about 4,000 troops on the tense Yellow Sea islands, along with top-level weaponry and upgraded rules of engagement that would create a new category of response when civilian areas are targeted.
Great! Yet another excuse for more military spending!
I’m still trying to recover from three plus days of not having potable water. If you hear a scream emanating from a laundry room some where south of you, it’s undoubtedly me. Thank goodness I decided to eat out for Turkey Day!!





A friend of mine who was a teacher for 20 years, and a good one, was layed off then out of work for many months, finally found a job, posted this on Facebook a few hours ago:
I don’t know, it just seems out of whack. Millions of people out of work, others flocking to Walmart to buy buy buy, Wall Street back to its huge bonuses and reserving fancy venues for their holiday parties this year; and a general pretense that everything’s normal.
Sometimes I don’t recognize the country I grew up in. We’ve gotten attached to the wrong values.
You know I think increasingly people are buying at these sales inorder to resell the item. When people camp out for days to buy a new Athletic shoe style for 300…it’s because they can sell it for 1000. I’m sure most out and about today aren’t doing that…but it’s part of the mix. It’s not just about spending…but making $$ too. I also have such friends who were canned for no good reason save being a number …and it’s hard. Because being good at what you do is no longer important…if fact it can be a career hindrance.
Well, when my husband came back this morning…(he is assistant manager electronic and toys and the event coordinator for is Walmart) He said they did not have any problems at all. However, another store in their market had a fist fight, over 1.97 towels. Go figure….
*should say his Walmart.
N Korea seems to throw these little temper fits every once in a while. I wonder what the status of the S Korean military is? I wonder if N Korea has the economic capability to carry out a war?
Has Hillary said anything yet? Hopefully we will have a national debate regarding what our interests are in terms of providing military support to S Korea and Japan. I believe S Korea has a relatively robust economic base and they do not play fair on trade.
I suspect the US population is getting kind of tired in supporting the world militarily. The domino theory is disproven and we just do not have the economic resources to do this stuff any more. Put a tax on bankers to pay for these shenanigans and we shalll see how popular this is.
N Korea seems to throw these little temper fits every once in a while. I wonder what the status of the S Korean military is? I wonder if N Korea has the economic capability to carry out a war
I think it’s a case of ” The mouse that roared.” .Okay I’m dating myself…North Korea is desperate and is shaking the begging cup for attention … and it’s a dangerous game. But they certainly don’t have the economic capability to carry out a war…they can’t even afford to carry out a peace.
S Korean military = USA . N Korean military = China…it’s a proxy situation. imo
That’s what concerns me…..the proxies.
Just wanted to say Hi to everyone. I’ve been awol a couple of days. We had a HUGE storm here, got the coldest I’ve ever seen it (7 F), with a weird tornado like windstorm and lots of snow for sea level (about 4-5 inches). The windstorm was because the center of the storm went right over us. Anyway, been recovering from that and the T-day stuff.
Hope everyone is well and had a good holiday. Now, I need to read up on the backlog! 🙂
Wow! Hope the animals are ok from that storm! Glad you’re back!
We bedded everyone down so they were warm and toasty. Assorted local wildlife didn’t do so well. Our local ‘rat’, a wood rat (which really isn’t a rat) had trouble. We found several dead of the cold out in the fields. We put out extra food for the songbirds and they were ok. I don’t know about the hummingbirds. Some overwinter here, and I think it was brutal for them.
It was record local cold all around, with Seattle in the low teens. I’m just really thankful it snowed first, so we had that blanket to cover and warm most everything.
We’ve gotten really cold and it’s supposed to head towards 40 and possibly into the high 30s. I look for the wildlife to move under my house and as close to inside as they can without attracting the dog and cat.
Seeing your headline this morning , FOOD CRISIS, I keep wondering why we’re not hearing more about the ethanol subsidies that are due to expire at the end of this year. Nothing has caused the rise in food prices like the subsidies have. I had to google for more info since I don’t see any news reports on it. I did read that we spend 4 billion dollars a year to prop up the farmers and most of that ends up in Iowa. IOWA! Now what is special about Iowa. Isn’t that the little hole in the wall that decides who the President will be every 4 years? I just hope the lame duck session of Congress doesn’t try to sneak in a bill to continue it while using the sudden rise in gas prices (just after the election of course), to extend this atrocity.
I’d be glad to see the end of this too. I remember when the subsidies went up and suddenly it got much much harder to get hay and grain because farmers were switching to ethanol corn. They switched back (out here) and yet the hay prices haven’t gone down to what they were. Funny that.
I know part of the price rise is due to the rise in fuel, but still…
Food Crisis – these fear tactics are going to have everyone ignoring real problems ahead. Actually, I think they already are. Saw a trailer for the Barbara Walters interview of BO & MO (think it airs tonight) where Michelle tells everyone not to feel the least bit guilty for how much they eat….just eat up! Clearly they’ve been sheltered from the number of people being served their “feast” through charities.
where Michelle tells everyone not to feel the least bit guilty for how much they eat….just eat up Huh? I though her first lady gig was child obesity?
I guess binging days must be okay?
I’ve written about this and I agree. Let those subsidies end. I did see something in the economist. You may want to google that.
I’m glad you are keeping an eye on this story because it’s a huge one. It’s almost like they want to create food shortages.( why do I say almost?) You don’t have to use food grade corn for ethanol production! You don’t have to remove this corn from the food stream…yet they have. If it’s not done with criminal intent ..it doesn’t make any sense…true of alot of situations
I think they do want to create investment opportunities for agribusinesses and others and if that means creating food shortages, so be it.
Pretty pictures to brighten the day:
I didn’t get to do this over Thanksgiving, so I’m doing it in a comment here:
I’m thankful for my family. My mother and father are still alive, and as they reach their 70s I’m so grateful for it. My sister is still going strong. T-day dinner was great, but very poignant for some reason. I was reminiscing to my friends about photography lessons my father had taught me, and looked up to see tears in his eyes. I guess he was remembering 30 or more years ago, all the time in the darkroom teaching me his hobby and his craft. Cruel, cruel time, where have you gone?
I’m thankful for my friends. Two of them attended dinner. They are like family. We are planning to set up a small commune to live after our parents are gone, when we only have each other.
I’m thankful for my partner, my common-law-husband, my help-mate, my soul-twin. He made the whole dinner, except for the relish and the pie. Together we have become a team. I don’t think I could live without him.
I’m thankful for the warm companionship of my milking goats on a cold winter night. The soft sound of the milk stream hitting the pail. The knowledge that their gentle and gracious abundance will feed me and my family. I’m thankful for the bright eyes and loving gaze of my little red dog, her playful bark and sweet demeanour. I’m thankful for the warm dark soil, enriched with goat berries and straw, protecting and nourishing my fledgling plants over these last few bitterly cold days.
I’m thankful for Sky Dancing and everyone here, and TC before it, and the other blogs. Without this little community I’d have felt like I was on an ice flow, isolated forever, wonder if I were insane.
And, on a more mercenary note, I’m thankful and astonished that not one, but two, yes two, publishers would like to publish my PhD thesis. I won’t make a cent off it, but wow…
That’s just beautiful, Sima.
(probably should’ve refreshed before posting my Debbie Downer rant below. would have rather sat in the glow for a bit longer.)
Rants are good, rants are necessary at times :).
And, thank you!
and it was a good rant 😉
Good morning.
All over that personal farm thing. Just started with veggies for the 1st time last year – used a non-soil, raised-bed method and ended up with a little shop of horrors. Some adjustments to the balance is required next yr. (Didn’t plant this last season.) Next step is to see if keeping a couple of backyard chickens will fly with town council. (We have the perfect in-town property for it.) A hothouse is being made from the house’s original windows and storms. I’m gettin’ ready!
The big story today – and one of CBC’s lead stories – is how we empty-bellied and alert Canucks are shopping on US Black Friday. Good deals on toasters, I hear.
There is nothing (I’ve seen) in tv media, not even on a crawl, on WikiLeaks.
Feeling pretty disgusted this morning with what’s going on everywhere….
Another top story is the inability/refusal of the Special Investigations Unit to assign culpibility to any of the G20 officers who INJURED PEACEFUL PROTESTORS. The abuse was acknowledged, but with the officers having removed their VELCROED nametags, and their faces obscured, they couldn’t finger the thugs…apparently.
Concurrently, a video has been released of the ASSAULT by police of a young woman in Ottawa 2 yrs. ago. I mentioned this ASSAULT the other day. It’s really hard to watch….they cut her upper clothing off. http://www.calgarysun.com/video/688136772001
There’s a disquieting number of SIU investigations (which imo are theatre) of citizen injuries and deaths, etc. Last week, in my small town, a 25-yr old previously healthy man died suspiciously in custody, and this a.m. there’s another report of a death in custody in a small city nearby.
AND we’re being assaulted at the airports. A friend of my mom’s – an older man – was ordered to put his palms flat down inside the front of his underwear, shift them up and down 3 times and then produce them for inspection – they were looking for powder, he understands.
If this WikiLeak thing happens, I hope to find out how we became Jackboot Nation.
Your news is scary. I’ve looked upon Canada as a possible refuge! Just goes to show, the stupidity of the Jackboot Nation is spreading all over the place.
I couldn’t watch your video, although I did read the article the other day. I just read the passenger stories at ACLU and found myself weeping. I think I have some hidden PTSD from my own suffering of abuse and rape. I do know this, I will NEVER allow any stranger to touch me like that. I guess a lot of others feel the same way.
I’m ignoring the Black Friday stuff. That’s my revenge against retail and the media for making the Xmas season such a slog of shopping horror.
Finally what happened with the raised beds? I’m interested to know. You say a soilless medium? So hydroponics? I have not used those. I do a modified system in my greenhouse, very cheaply.
“a slog of shopping horror”. Exactly.
I don’t shop. Had the same 1950’s toaster for 20 yrs.
Re the beds, I’m a beginner gardener so may have not used the correct terms. By soilless, I mean it was a 1/3 ea. combo of compost (my own), vermiculite and peat moss. It’s the “square foot gardening” method, which when I came across it, thought it was a bit hokey. But since our soil was dubious (and clay heavy), and the beds are far from an easy water supply, I gave it a try. Some plants grew out of control, like the Brandy Wine tomatoes which were folklore worthy, the zucchini, the size- of-your-head bell peppers, while some others were so pathelic, even the rodents couldn’t be bothered. The lettuce, swiss chard, peas, beans, for example, were great. There was plenty of sun, no overcrowding and I companioned best I could. I’m left thinking…..it’s a soil problem?
Which plants were pathetic. Was it the same varieties that did well?
It could be a soil problem, the nutrients in the compost would have been used by the first plants and those planted later could have some troubles. Did you fertilize at all? Ph might be a problem as well, although it doesn’t seem like it would be.
Weather is also a big factor. In 2009 we had a customer that really wanted Swiss Chard. Lots of it. We couldn’t grow it worth a damn. What we eventually got was little 12 inch long spindly leaf stalks. This year, 2010, we had Swiss Chard for about 6 months of the year, and all of it 2 to 3 ft tall, lucious thick juicy stalks. Nothing changed, we planted at the same time, fertilized the same way, and so on. But the weather was substantially different, with heat in the early season and unseasonable cold later on. The chard loved it.
I gave up Xmas 12 years ago I haven’t had a regret yet.
I’m about ready to do this. It sounds so liberating!
I can’t believe how we’ve exported terrorist paranoia.
Takes 2 to tango…can’t export something we’re not willing to import!
Qualify that one – something our government is not willing to import. I doubt that the majority of us Canucks want this….but then again, I doubt the majority a Americans want it either. It’s interesting that these measures are applied to the hoi polloi, but the people that imposed them will probably never have to be exposed to them. Government by the people, for the people…..what a quaint idea.
Yes, HT…the government. (Dak said “we’ve” and I used “we’re” in the same context.)
Yes I know, just, my comment was tongue in cheek.
Hope everyone had a wonderful Thanksgiving! We did, just had my mom over this year the rest of my family seems to have gone nuts, but oh well..
She said it’s the best one she’s had in years and praised my cooking, if you tasted hers you’d know what a compliment that is. She’s the best. I didn’t let her lift a finger and she fell asleep on the lounge chair with her feet up. How the circle completes in life really hit me as I watched her snoozing and full.
Today I feel as if I were hit by a truck, 😉 but it feels good in a way. If only the coffee pot would float over here and give me a refill….
I think there is something primordial about post harvest feasting. It satisfies the reptilian brain and the human heart.
I think that you’ve nailed it. Yesterday I worked at overwintering my geranniums in the basement, then felt an urge that would not be denied for a huge chicken dinner. As there are only me and the gruesome male, I now have enough leftovers to feed us for a week.
HT, is your basement cool?
just, my whole house is cool – energy prices. Yes it is – I keep the house around 66 degrees, and Greyslady gave me some information on her blog – Gardening in the mud (see the blog roll) so I’m giving it a try cause I’m on a fixed income. My gruesome son complains that it’s too cool/cold. My response, when you pay the bills, you get to set the thermostat.
Even though I have a small house, I try to limit the number of rooms that I keep in the comfort zone by closing vents and doors.
Oh, HT, I’m right there with ya on keeping the thermastat low. (Thankfully, we have a woodburning stove and free firewood.)
Thanks, I went over and read Grayslady’s instructions. Our basement is not cool enough, and my sunroom is too cool. Hmmm. Hate to lose these geraniums…grabbed about 75 of them at a Zehr’s sick plant sale for 25 cents each.
Start looking for a friend with space in their basement, I guess…
For the sunroom, you could try a cheap heat mat. They use about a light bulb’s worth of energy and really do help the plants out.
You can also create insulation under the plants by using styrofoam. We use the packing sheets (about 1in thick and in varying sizes), from time to time, under our heat mats. This stops the mat from trying to heat the whole sunroom. Bubble pack and cardboard also works, not quite as well. I’d put cardboard on top of the bubblepack so the plastic can’t melt from the heat mat (not that it will, I’m just cautious that way).
I use Greenhouse Megastore for heat mats. We get big long ones. If you surf around the site you’ll find other selections.
Here’s the link to the mat I use. We actually got them longer than these, 8 ft long.
https://www.greenhousemegastore.com/product/commercial-propagating-mat/seed-starting-equipment
Thanks very much, Sima! I’m checking out the heat mats….
I’ve used heatmats in my greenhouse to help germinate seeds. They’re great
All the people get me tired too. I love my family and friends, but socializing can be really draining. Now I’m in a post feast slump. I actually have had… bread and butter, as my only meal today. Heh. Couldn’t face left over turkey yet!
lol!
Good thing he wasn’t duck hunting with Dick Cheney.
It looks as if the experience my Aunt had is going to happen to women and girls traveling on airplanes:
“Menstruating women beware. If you intend to travel, your panty-liners are now considered suspicious objects, after all you could be concealing a bomb in there.”
http://www.prisonplanet.com/sanitary-towel-prompts-tsa-to-grope-sexual-assault-victim.html
And another thing, remember that link I posted a few days ago with the TSA officer that kidnapped and raped a woman in Atlanta…check this out. http://www.wsbtv.com/news/25911785/detail.html
“Channel 2 Action News has learned a TSA security worker accused of abducting and sexually assaulting a woman had previously been convicted of misdemeanor harassment and stalking.”
“TSA has a long list of “disqualifying offenses” for employment at the federal agency that operates airport security. Those offenses include felonies, violent crimes, theft, and crimes involving security and transportation. Regan checked the list and found that it did not include misdemeanor offenses of harassing and stalking.”
I feel sick…
I can’t believe they’ve given these glorified mall cops so much power. Most of these idiots would wash out of police training, fbi training, or real law enforcement!!!
No surprises, just sincere disappointment.
I can’t believe I’m going to quote from The American Thinker, but I am …
also this…
ha!!! even Republicans recognize this blatant nonsense!!!
oh, turkey on a shingle, it gets even better!!
Yeesh. Seems like discord in the Repub ranks if they are dishing the truth on Jindal that way. And this
is amazing. Why don’t people LOOK at what the Repubs actually DO in office. Ohh, maybe they do. Maybe that’s why Repubs are dissatisfied and think there’s no difference between the parties. I dunno.
I think state budgets should be going up as essential services like health, services for the disabled, education, police and fire, etc, are kept running. What should be cut is the likes of the governor’s travel budget.
“The secretary of Defense under President Clinton cautioned that sanctions against North Korea need to be enforced in order to quell the communist regime’s “Orwellian language” and said China must be a partner in bringing the regime into line.”
http://thehill.com/blogs/blog-briefing-room/news/130761-clinton-defense-secretary-says-more-troops-china-needed-in-korean-crisis
Wow do I like this one by Adele Stan and the follow up by Digby.
Stan says this:
and Digby here:
Same thing used to drive me nuts about that Evil Phylis Schafly. She took every advantage feminism could give her, derided it, then made a living telling other women they were de-sexed by it.
You may have liked Stan’s post but it’s completely wrong. Either it’s a pack of lies or she doesn’t know what the “statute of limitations” means. I’ll assume ignorance.
She seems to say the clock begins to run when you are hired but it would not. It would start when you were either fired or left the job voluntarily. From that point, there was a six month statute of limitations to file suit for discrimination. A fine point I know, it’s only 180 out of phase.
As for the Chickenshit, how would she know someone had no issues with “unfair pay and sexual violence”? Seems the narcissism may be on the other side.
What appalled me and why I liked the piece is that Palin did not support any of the pay equity legislation. The fact Stan got the details wrong wasn’t the point to me. It’s that you don’t get to call yourself a feminist and attack other feminists with the agenda she promotes. It’s not a pro-woman.
I’ve said it before, and I will say it again…I think the thing that should be considered when you label someone a feminist is if these women stand up for themselves and other women.
Hear, hear. And the most important word is – WOMEN (adult and child). I’m getting a bit perturbed at some self labeled “feminists” trying to redefine feminism to include men. Men don’t need any help, they already have most of the pie. Women have a sliver.