Saturday: a time for prayers

Click Image to go to Al Jazeera Live Blog on Egypt for Feb. 5th

Photo: A wounded antigovernment protester joined fellow demonstraters for Friday prayer at Tahrir square in Cairo. Tens of thousands of Egyptians gathered for sweeping “Day of Departure” demonstrations to try to force President Hosni Mubarak to quit. (Mohammed Abed/AFP-Getty)

Good morning, news junkies!

So the story this week is still Egypt, and I thought I’d start off with a first-person account that Bloomberg ran yesterday from reporter Maram Mazen:

A policeman looked me in the eye and said: “You will be lynched today,” running his finger across his neck.

But, that wasn’t Mazen’s most frightening moment on Thursday in Cairo. Click over to find out what it was.

Next up, a youtube of the protesters in Tahrir square breaking into song yesterday, led by a guitarist off-camera, amidst cries for Mubarak’s immediate exit during Friday’s ‘Day of Departure’ demonstrations. It’s almost at a 100,000 views already. Please go give it another. It’s just plain enjoyable music too. Rough translation of what they’re singing, from the comments:

Let’s make Mubarak hear our voices. We all, one hand, requested one thing, leave leave leave … Down Down Hosni Mubarak, Down Down Hosni Mubarak … The people want to dismantle the regime …. He is to go, we are not going … He is to go, we won’t leave … We all, one hand, ask one thing, leave leave.

Click Image to see more pictures of the day for Feb. 4th from the NYT Lens

Photo: Iranian women participated in Friday prayer outside Tehran University (Behrouz Mehri/AFP-Getty)

Here’s the latest word from Secretary Clinton on Egypt, speaking at a Munich security conference this Saturday — Hillary characterizes the unrest that the Mideast is facing as a “perfect storm of powerful trends” and says:

This is what has driven demonstrators into the streets of Tunis, Cairo, and cities throughout the region. The status quo is simply not sustainable.

Al Jazeera English also reports that she said there must be clear progress toward “open, transparent, fair and accountable systems” across the region not to risk even greater instability.

While we’re on the Middle East, did you hear? Rand Paul wants to end “welfare to Israel.” Hey, don’t shoot, I’m just relaying the news here. And, before anyone on the other side of that issue goes goo goo over Paul following in his father’s isolationist footsteps, remember the libertarian catch that it comes with–Paul is also calling for dramatic education cuts.

There’s an interesting blog piece on Egypt, Obama, and Indonesia at the New Statesman that I’m still thinking on, but I thought I’d put it out there for Saturday reading. I have to say, I have yet to see any indication that Obama has much of a plan when it comes to Egypt. The deer-in-the-headlights look coming from this White House has been hard to miss.

This next item didn’t seem to generate much buzz, but I thought I’d put it in here and get your reactions… a Mississippi federal judge threw out a challenge to HCR on Thursday.

Here’s a story I’d been meaning to cover last week but didn’t get to, and there’s an update on it this weekend too. You may or may not know but Indian human rights activist Dr. Binayak Sen is facing life imprisonment. Here is the report Democracy Now’s Anjali Kamat filed from Chhattisgarh in advance of the global day of protest calling for Binayak’s release last Sunday. And, here is the update on Binayak’s wife, Ilina Sen, who has been under a witchhunt by the Maharasthra Police. An FIR against her has been reportedly thrown out:

Illina was named as an accused for her alleged failure to inform the police of the participation of foreign delegates at a conference of the Indian Association for Woman Studies ( IAWS) in Wardha.

Illina, who had termed the FIR an vindictive act of the state, told Mail Today on Thursday that she was unaware of the development. ” But if it is happening, it is a welcome step,” she said.

” The home ministry has intervened in the matter… Illina’s name will be dropped from the FIR,” a government source said.

Looks like a bit of good news we can hang our hats on as the rest of the world spins out of control. Speaking of women’s studies…

This Saturday in Women’s and Children’s Health headlines

BYU School of Family Life researchers Sarah Coyne and Laura Padilla-Walker find that teen girls who play video games with their parents are less depressed (Truthdig), as part of the Flourishing Families project that began in 2007. Here’s the pdf to the actual study published in the Journal of Adolescent Health this month for anyone who is interested. According to Coyne, et al. (2011), for girls there is a link between playing age-appropriate games with parents and lowered internalizing (anxiety/depression) and aggression. There is no correlation for boys, and further studies are still needed to determine causality and long term effects for girls. Two years ago, the larger study that this research is a part of found a link between frequent gaming and relationship difficulties. This summer the project led to research that found having a sister may counter depression. Let’s hear it for sisterhood! Which brings me to…

Cinematherapy…in Feminist Perspective

Click poster to go to missprepresentation.org

A great op-ed last week on Jennifer Siebel Newsom’s documentary Missrepresentation, by Ashley Chappo in The Cavalier Daily — “Showgirls.” Here’s a teaser of Chappo’s piece:

As the American activist Marian Wright Edelman once said, “You can’t be what you can’t see.” Our national misconceptions about the value of women have contributed to the fact that the United States currently ranks 90th world-wide when it comes to women’s representation in politics. This year, Newsom’s documentary is a must-see because it challenges all Americans to reconsider their values and confront institutions that perpetuated inferior images of female capability.

Another film featured last month at the Sundance festival that you might want to take a look at is Lynn Hershmann’s !Women Art Revolution. Also, if you have a chance, check out: “Global Girls Go Sundance.”

This last one is really a review of a review of a book, but I’m sticking it here because it goes with feminist reads. Historiann: “Rebecca Traister on Stephanie Coontz’s A Strange Stirring.”

This day in history (February 5)

1871: Mary Sewall Garnder, pioneer of public health nursing, was born.

(If you click on Mary’s name, the link will take you to more women’s history trivia for February 5th.)

Closing thought

With all the upheaval going on in the world these days, I thought I’d share the Gayatri mantra before I go… I grew up on it, and though I’m agnostic and don’t believe in a “creator god,” this one stuck for me, perhaps because Gayatri is a girl goddess and the prayer is about asking her to dispel the darkness of ignorance. I like this translation:

Om Bhur Bhuva Swaha
Tat Savitur Varenyam
Bhargo Devasya Dheemahi
Dhiyo Yo Nah Prachodayat

Mother who subsists as all three Kalas, in all three Lokas, and all three Gunas, I pray to you to illuminate my intellect and dispel my ignorance, just as the splendorous sunlight dispels all darkness. I pray to you to make my intellect serene and bright.

And, to make this roundup even more cross-cultural…

La fin and merci beaucoup if you made it to the end. Let’s hear what you’re reading this Saturday in the comments.

[originally posted at Let Them Listen; crossposted at Taylor Marsh and Liberal Rapture]


More Insanity and Lies from US Christian Extremists

The new year seems to have instilled a new level of craziness in our homegrown Christian Extremists.  Think that all that stuff you see over in under-developed nations couldn’t be brought over here?  Think it’s only radical Islam that wants to stick women in an Iron Age world?  Well, think again. Watch the video and be appalled.

Anti-Choice Fanatic Lila Rose says that  ‘Abortions Should Be Done in the Public Square’.

We’ll get back to Lila in La La Land in a bit.

First,some people have nothing better to do than to biblecheck the President’s knowledge on the “The Bible.” If it wasn’t embarrassing enough to have to watch the President of the world’s oldest pluralistic society make a speech so he can prove he’s not a “Muslim”, Fox Nation has to choose which version of the Bible he’s supposed to use to pledge allegiance.  Evidently, the only true Bible for Fox Nation is the King James version which has been shown to have severe translation and other problems.

Obama was  quoting from the New International Version, while Fox Nation was pointing to the King James Version to “debunk” him.

This would be funny if it weren’t so pathetic.

Most likely, they won’t bother to correct their story, and their goal will be accomplished: the readers that trust them will remember the time Obama “misquoted” the Bible, some more people will question the authenticity of Obama’s faith, and the smear machine will move on.

Exactly what is the point of having the President of our entire nation disenfranchise many of us through a “national prayer breakfast” any way?

While the president thankfully steers clear of “Christian nation” rhetoric there was simply too much of Obama the Christian yesterday.

Come to think of it, the National Prayer Breakfast often has this effect on politicians. Senator Joseph Lieberman, an Orthodox Jew, sprinkled so many references to the gospels at the 48th National Prayer Breakfast in 2000 that he made George W. Bush look like a desk officer for Americans United for Separation of Church and State.

Obama may earnestly believe that Republican Senator Tom Coburn is his “brother in Christ.” But such a sentiment sounds odd coming from a president who once reminded his Turkish hosts that ours is not “a Christian nation or a Jewish nation or a Muslim nation,” but “a nation of citizens who are bound by ideals and a set of values.”

Such a nation, one would hope, would be led by a person who understands that this type of rhetoric can be deeply troubling to those who don’t believe in Christ. Just as it may offend those Christians who believe that Christ’s teachings tend to become distorted when they are mouthed by the worldly powers that be.

This comes after learning the politically significant and influential “Family” has caused Uganda to create laws that murder its GLBT citizens. David Kato was forced to return to a country that is leading a reign of terror on its GLBT minorities in a manner directly traceable to the narrow beliefs and traditions of extremist Christians in the US.  The Family makes the Muslim Brotherhood look tame by comparison.

In early 2010, as policy adviser to the UK’s all-party group on HIV and AIDS, I organised Mugisha’s visit to the Westminster parliament to meet the then foreign office minister and openly gay legislator, Chris Bryant. It was, for Mugisha, a vision of what politics could be like.

“At this moment [in Uganda] it would be political suicide for a [member of parliament] to come out and support lesbian, gay, bisexual and transgender people,” he marvelled.

Six months later, back in Uganda, the national newspaper, Rolling Stone (unrelated to the US magazine of the same name), splashed a story across its front page, outing Uganda’s “top one hundred homos”. The piece gave names and addresses of gay men – amongst them Mugisha and Kato, whose faces were pictured in the paper. On the front page a banner read, “Hang them!”

The lives of both men were in danger but instead of hiding, they fought back. Kato successfully took the newspaper to court winning the paltry sum of 1.5 million Ugandan shillings (650 US dollars) for invasion of privacy and a permanent injunction preventing Rolling Stone from running a similar story again.

Secretary of State Hillary Clinton called for Uganda to swiftly investigate the murder of  Kato.  This call was reiterated just recently by President Obama.  The Senate should investigate the role of US religious extremists in the murder.

“The Family”–also known as “the Fellowship”– is a powerful and covert sect of American Christian evangelical politicians and ministers who seek a decidedly anti-gay extreme Christian agenda both at home and abroad, and through its words put this hammer in the hands of all potentially intolerant Ugandans.

Enabled by President Lt. Gen. Yoweri Kaguta Musevani and his wife Janet Kataha, Ugandan parlimentarian David Bahati, (who in 2009 said, “Homosexuality it is not a human right,”) last year introduced a “kill the gays” bill which remains under active consideration. All are believed to be members of Ugandas’ Christian right wing “Family,” according to Jeff Sharlet, author of The Family: The Secret Fundamentalism at the Heart of American Power, a tour de force exposé of “The Fellowship,” published in 2008.

Sharlet has appeared on MSNBC’s Rachel Maddow Show, as well as on National Public Radio to discuss the shadowy “Family” sect that has included well-known evangelical minister Rick Warren, who delivered the invocational prayer at President Barack Obama’s inauguration in January 2009, much to the chagrin of LGBT activists.

Sharlet has authored a second book on the Family, entitled C Street: The Fundamentalist Threat to American Democracy, considered a deeper exploration of related sex scandals of Family-backed Republican politicians in Washington, D.C. It provides additional revelations about The Family’s role in the Ugandan government’s anti-gay reactions, which have brought rebukes from the Ugandan Supreme Court, but have also elicited a refusal by Rick Warren to condemn the Ugandan ”kill the gays” proposed legislation, along with a dubious claim that Warren had “nothing to do” with the anti-gay bill.

New York Times best-selling author Frank Schaeffer writes in “Evangelicals Implicated When Ugandan Gay Rights Activist Was Beaten to Death,” that the ”story of the Ugandan legislation to kill gays for being gay was intertwined with the Family and also with representatives of the wider “respectable” American Evangelical community. According to many pressreports, the genesis of the antihomosexual Ugandan bill may be traced to a three-day seminar in Kampala in March 2009 called “Exposing the Truth Behind Homosexuality and the Homosexual Agenda.” This seminar was led by Evangelical leader and hero to the Religious Right Scott Lively. He is best known for his Holocaust revisionist book  The Pink Swastika, which claims homosexuals founded the Nazi party and were responsible for death camp atrocities.”

“According to sources who attended the conference (and who were later widely quoted in the press), Lively told his Kampala audience, “I know more about this [homosexuality] than almost anyone in the world. The gay movement is an evil institution. The goal of the gay movement is to defeat the marriage-based society and replace it with a culture of sexual promiscuity.” The results of the seminar were dramatic. “The community has become very hostile now,” Frank Mugisha, executive director of Sexual Minorities Uganda, said in an interview. “We have to watch our backs very much more than before because the community thinks if the Ugandan government is not passing the law, they will deal with [gay] people on their own.”

They’re busy here too.  Some Iowans are on a crusade against GLBT families. Just when you think it’s safe to be a human in a developed nation, religious extremists bring out their burning crosses and witch hunts all over again.

Fox News via Bill Reilly has also been pushing Lila Rose’s heavily edited and misleading film showing that Planned Parenthood “provides advice to sex traffickers of minority youth”.  This is the latest right wing attempt to ensnare nonprofits serving the poor with lies and heavily edited video tape.   This tape is unbelievably being shown on FOX News as a credible source. New Jersey Governor Christie has promised to veto funding for Planned Parenthood now based on this highly edited and misleading document.

When the anti-abortion rights propagandists at Live Action began releasing their Planned Parenthood smear videos earlier this week, we explained that their claim that Planned Parenthood was covering-up “child sex trafficking” was clearly a lie.

That’s because way back on January 18, Planned Parenthood’s president wrote to Attorney General Eric Holder about the incidents and requested an FBI investigation into the possibility that “an individual or individuals are engaged in activities that violate several federal criminal statutes relating to sex trafficking involving minors.”

So Planned Parenthood obviously wasn’t covering up anything; they were fulfilling their obligation to keep children safe.

We also warned that media should be skeptical about the heavily edited video footage released by Live Action.

As it turns out, we were right to raise concerns.

Yesterday, Live Action released a video that it claimed showed a Richmond, Virginia, Planned Parenthood’s supposed “willingness to aid and abet sexual exploitation of minors.”

This comes on top of the attempt by Speaker of the House John Boehner and  U.S. House of Representatives to redefine rape to further remove access to abortions by poor and disabled women. Here’s that and some more news on Men with Minds stuck in the Middle Ages from young women’s website The Frisky.

  • Leave it to Kristen Schaal at “The Daily Show” to give the best assessment of Republicans’ attempts to redefine rape in the No Taxpayer Funding For Abortion Act. “Rape with benefits” and “rape-ish” are sooo becoming part of my vocabulary. Thankfully, the phrase “forcible rape” has been cut from the bill. [The Daily What via The Daily Show, Washington Post]
  • Former Oklahoma State Senator Herb Rozell suggested a pregnant woman who was nominated to the State Board of Education would be “worthless” because she would give birth during the legislative session and be totally obsessed with diapers or something. Rozell has been condemned by OK’s Governor Mary Fallin and other lawmakers, including two who said, “In this day and age, to have that type of attitude about a woman’s ability to serve is offensive, discriminatory and just wrong.” [Tulsa Beacon]

Here’s some interesting analysis on HR#3 and how the language got dropped by the CSM.  Thankfully, the GOP backed down.  Here’s some of the remaining horrors of the bill that our Democratic President shouldn’t sign if passed.

“I would caution against saying this is a victory, because the other provisions in H.R. 3 are so bad,” says Ted Miller, communications director for NARAL Pro-Choice America.

In addition to banning federal funding for abortion, the bill would eliminate tax breaks for health insurance premiums on policies that cover abortion-related expenses. It would also prevent women from paying for an abortion out of a health savings account.

A separate piece of legislation, H.R. 358 – the Protect Life Act, sponsored by Rep. Joe Pitts (R) of Pennsylvania – also seeks to bar use of federal funds for abortion under the new health-care law but is less far-reaching than Congressman Smith’s bill. Still, abortion-rights advocates are equally concerned about its provisions. On Wednesday, NARAL Pro-Choice America highlighted a new version of Congressman Pitts’ bill that they said would allow hospitals to refuse to provide an abortion to a pregnant woman even if her life was in danger.

In the last Congress, Pitts and former Rep. Bart Stupak (D) of Michigan succeeded in inserting a ban on federal funding for abortion in the House version of health reform legislation, but it was not included in the final version signed by President Obama. The day after the bill-signing, Mr. Obama signed an executive order aimed at ensuring the new law would maintain a ban on federal funding of abortions.

However, there are Democratic co-sponsors of that bill.  Micheal Whitney at FDL has a good run down of which Dems we should work actively against.  The DCCC invested $3.3 million dollars getting these jerks re-elected.

A look at the DCCC’s contributions to and on behalf of the 10 Democratic co-sponsors of HR3 show the committee spent a whopping $3,379,322.85 to keep these members in office – in 2010 alone. The list includes: Dan Boren [OK-2], Jerry Costello [IL-12], Mark Critz [PA-12], Joe Donnelly [IN-2], Daniel Lipinski [IL-3], Collin Peterson [MN-7], Nick Rahall [WV-3], Mike Ross [AR-4], and Heath Shuler [NC-11]. And God knows how many Blue Dogs that lost in 2010 and who were supported by the DCCC would have co-sponsored this bill.

Madamab has a Feminist Friday post up called ‘Feminist Friday: “Jekyll” and Hyde’ that thoroughly covers the depths of horror displayed in this bill.   Then, try this one on for size from an article from our neighbors to the north.  The “culture of life” clearly does not extend to living breathing children in many extremist sects.

Water torture of babies is one way some members of the Fundamentalist Church of Jesus Christ of Latter Day instil fear of authority, a former member testified Wednesday.

“It’s quite common,” Carolyn Blackmore Jessop told the constitutional reference case to determine whether Canada’s polygamy law is valid.

“They spank the baby and when it cries, they hold the baby face up under the tap with running water. When they stop crying, they spank it again and the cycle is repeated until they are exhausted.”

It’s typically done by fathers and it’s called “breaking in.”

Jessop, who is from Arizona, testified about the practice during her testimony in B.C. Supreme Court.

Outside the courthouse, Jessop said water torture is common enough that there doesn’t seem any shame attached to the practice.

In her cousin’s baby book, there’s a handwritten note by her mother noting that when her daughter was 18 months old, she was becoming quite a handful and, as a result, was being held under the tap on a regular basis.

In court, Jessop said water torture was one of the reasons that she gave for gaining sole custody of her children after she left the group in 2003. She said her ex-husband, Merril Jessop, used it on “a lot” of his 54 children including her own.

“Merril was very abusive,” she said.

Think Europe is safer?  Well, try this cute one from LGF: Catholic Church Issues Guide on How to Convert Witches from the UK.

According to a new booklet from the Catholic Truth Society — the U.K. publishers for the Holy See — the faithful can convert Wiccans by following a few simple steps. The pamphlet, titled “Wicca and Witchcraft: Understanding the Dangers,” suggests that Catholics spark up conversations with these unbelievers about shared concerns such as the environment, The Telegraph reports.

And if you bump into a witch in a bar or coffee shop, the book adds, it’s important to recognize that “Wiccans are on a genuine spiritual quest,” providing “the starting point for dialog that may lead to their conversion.”

Why we continue to worry about religious extremists abroad when there are serious threats to our freedoms from religious extremists here in our own country continues to amaze me.   One bomb can only kill so many people.  Removal of religious freedoms and promotion of severe propaganda as fact by the media is a for more clear and present danger.  Why are we worried about Egyptian politics when we clearly have people in our own country who want to defy the U.S. Constitution and place us in an extremist Christian theocracy?


Gambling with Hunger

During the wind down of the financial crisis several years ago, a few people that read my more wonky threads asked me where I thought the next speculative bubble would develop.  I answered food more from intuition than any hard core evidence that I had at the time.  Now there is plenty of hard core evidence that validates my intuition.

Farm land and Ag. prices have been fairly stable since the 80s and represented some of the few markets that proved relatively resistant to the Global Financial Crisis.  However, there was a period of time–2007 through 2008– when some speculative practices influenced food markets.  That is why I thought it was likely to recur.   Food is, of course, a necessity so that always gives a market a degree of persistence during downturns. It does not make it safe from speculation.  The deal is that speculators made a lot of money from their counterbets to the mortgage bubbles and that money had to go some where.  I thought it likely they would head for the commodities markets since they did that before with oil, cooper, and food.  Since these investors are by nature speculators, they have similar investment behaviors and profiles.  The movement of a large number of large dollar investors from one specific clientele into any market is going to have an impact.  Speculators moved to commodities and they moved on food. You could see the momentum build and you could trace momentum riders as they entered the market.

Before I get started on the main thrust of this post, I’d like to mention that I know a lot about Shari’a compliant finance and banking because my major professor is one of its leading authorities.  Because this discussion is going to include countries where Islam is a major religion, I would like to say a few things about how Shari’a is applied to stock markets, banks, and ‘financial engineering’ in countries where populations may be pushing for these kinds of laws.  I’d also like to say that Islamic economists share my concerns even though those concerns are rooted in different philosophies.

It is important to point out that Islamic banks and investment funds were found to be resistant to the global recession compared to their conventional counterparts.  This is because gambling and speculation is outlawed in Islamic texts and therefor not allowed in Shari’a compliant institutions.  The current U.S. and European corporate form is problematic under Shari’a.   The Qu’ran is very specific about the nature of doing business.  Most of this is based on the old testament prohibition against usury but the haddith and Q’uran go further.  However, the shared old testament roots makes a lot of Islamic financial institutions similar to the ones you find in New York  with special banks run by the Orthodox Jewish communities there. We already have religious financial institutions that follow Old Testament prescriptions. I’ve had Jewish students from Orthodox congregations provide me similar information that’s rooted in the Talmud. (Yes, I’m an atheist which makes me extra suspicious of  any religious text.)

The Qur’an also promotes shared partnership/ownership and responsibility within a business as a moral imperative between all owners of that business.  It does not promote any governmental ownership.  It is considered immoral to operate a business with a never-ending, always changing ownership pool like that present in the business form of  a public corporation. Preferred stock is strictly prohibited.  All owners must have a shared responsibility for the business.  That includes the concept of ‘negative’ profits and any negative results.  If the business does something immoral or wrong, all of the owners and decisions makers owe the societal retribution and share in the shame and negative profits. No one owner can walk away from illegal activities.

Contracts that are compliant to the Shari’a are written clearly and monitored against gharar (disception) so that gambling and speculation cannot occur and so that any thing bad the business does comes back on all the owners/investors in a business.  They all hang or thrive together over long periods of time.   That is because a business and trade are supposed to bring good results for the entire community. It’s like the idea of karma.  If you do good, every thing thrives.  If you do harm, the poison spreads and you are held to account.  The contracts are enforceable in courts.  In this case, an Islamic jurist and an angry sky god will hold you to account.  You’ve undoubtedly read exactly how old testament angry that punishment can be be in the version of Shari’a practiced by the extreme Shia Islam of Iran.  Fortunately, most adherents to Islam–like the majority of adherents to Christianity and Judaism–do not adhere to literal interpretations of Old Testament prohibitions and punishments.  They hold to the underlying moral view and practices.

Shari’a compliance means no corporate form like we use here with its limited liability financiers and assumed perpetuity. This is probably why you’ve got so many people calling Islam ‘anti-capitalist’ now.  It’s not anti-capitalist at all.  In fact, it exhorts people to share and run businesses as a moral activity.  It’s the speculation and the ability to walk away from liability that is prohibited.  It is not about government takeover of private property.  It is about holding private property owners to account for the damage they may do to society and preventing that when possible.  Of course, the plutocracy hates this.

I want to explain what this means because it’s not a Marxist form or a planned market form like you saw in the Soviet Union.  This is not a ‘communist under the bed’ situation.  Derivatives and financial engineering are being vigorously discussed by Islamic economists and financiers right now.  They are separating out the forbidden, speculative activities.  This means that many hedge funds would not be able to get into projects where the owners follow Shari’a because speculation is strictly prohibited.  All investments must be matched to “real” assets. Assets cannot be created out of thin air.  So, in this situation, forward contracts or futures contracts are allowed.  Some of the synthetic deals that characterized the pre-crisis time cannot be used by firms providing investment fund opportunities to people concerned their monies be placed in Shari’a compliant ways.  Additionally, the Q’uran has a strict prohibition on hording money.  The rich must keep their funds active in the economy to please God.  Another edict is that all activities must put aside a portion for charitable activities that support widows and orphans.  I hope this gives you enough understand to place this next discussion in context and why some people may find this appealing.

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So, maybe you can understand why gambling with food assets is a big concern on many levels for developing nations.  First, you have an incredible amount  of hungry people.  There are tales of hungry people in Africa watching boats be loaded with food they grew being shipped to rich, developed countries.  Then, you have a number of regions where gambling is basically seen as doing harm to people and is prohibited by God.  I would like to remind you that most fundamentalist Christians and Orthodox Jewish Congregations believe this too.  It’s clearly part of the old testament prohibitions.  So, modern finance is running headlong into development economics as well as people with literal old testament-based religions.  Again, Orthodox Jewish congregants have a separate banking system in New York that would be considered Shari’a compliant.  I cannot emphasize this enough.

So with this in mind, there is increasing evidence that ‘Rampant Speculation Inflated Food Price Bubble”. You can see what excessive speculation is now doing to food markets.

Read the rest of this entry »


Live Blog: Evening in Egypt, ‘Day of Departure’ going strong as Mubarak stays put

Click Image to go to Al Jazeera Live Blog on Egypt for Feb. 4th

This post will update–you know the drill.

Scroll to the bottom for AJE Live feed, embedded in this post for your convenience, and for quick links to other live feeds.

More live blogging: AJ Live Blog | Enduring America “Egypt and Beyond” Live Blog | NYT Lede’s latest on Egypt | Ahram Online minute-by-minute account of “Departure Friday”

In reverse chronological order, so the latest update is first:

First time reporters will be able to ask Obama questions about Egypt.

On standby on the Obama press conference feed. Will update this if/when CNN or AJE cut back to it…

Ok, he’s back answering qs… repeating “orderly transition” talking point.

Oh goodness, now the president is praising Mubarak, calling him “proud and a patriot.”

2:20 ish pm CST: Obama speaks

First he’s doing remarks on Bilateral with Canada. Then he’ll address Egypt.

Obama on Egypt: “We oppose violence as a response to the crisis.” Attacks on human rights activists, on reporters, on peaceful protesters are unacceptable. Encouraged by restraint shown today. Transition needs to begin now. Details need to be worked out by Egyptians–we understand that they’re working on it now. Entire world is watching. Egypt in “tumult and transformation.” Confident Egyptian people can shape the future they deserve.

2 pm CST: Awaiting remarks from President Obama.

What will he NOT say next?

1:40 CST/9:40 pm Cairo

Pro-democracy activist Wael Abbas on the phone with AJE, reporting that the atmosphere around the protests is “crazy” and that he, like others, have been arrested for all sorts of weird reasons. He says he was arrested three times.

1 pm-ish CST: Robert Gibbs is blathering away.

I’ll let you know if he says anything that’s not the usual evasion tactics.

My verdict as AJE cuts away: Nope, he didn’t say anything of interest. The takeaway quote was Gibbs saying “I doubt if there’s anyone in Cairo looking for my definition of ‘freedom of speech.'” Yawn.

MSNBC.com: ElBaradei denies Austrian interview (that he won’t run for president)

From msnbc.com’s M. Alex Johnson: “Update 1:21 p.m. ET: Reuters reports that ElBaradei has told Al Jazeera that he might, in fact, run for president ‘if the Egyptian people want me.’ Addressing the Standard report below, ElBaradei said by telephone that ‘this is not true,’ Reuters says.”

Here’s the Der Standard report, translated by google.

Ahram Online: Minister of Industry Rashid Mohamed Rashid banned from leaving Egypt

Full text: “Public Prosecuter ordered Friday the freezing of the bank accounts of former Minister of Industry, Rashid Mohamed Rashid, and banned him from leaaving the country.

Yesterday, similar actions were taken on  former NDP Organization Secretary Ahmed Ezz, former Interior Minister Habib al-Adly, former Housing Minister Ahmed al-Maghraby and former Minister of Tourism Zuhair Garrana.”

Robert Fisk: ‘Mubarak will go tomorrow,’ they cried as rocks and firebombs flew

From the link: “From the House on the Corner, you could watch the arrogance and folly yesterday of those Egyptians who would rid themselves of their ‘President’. It was painful – it always is when the ‘good guys’ play into the hands of their enemies – but the young pro-democracy demonstrators on the Tahrir Square barricades carefully organised their Cairo battle, brought up their lorryloads of rocks in advance, telephoned for reinforcements and then drove the young men of Hosni Mubarak back from the flyovers behind the Egyptian Museum. Maybe it was the anticipation that the old man will go at last today. Maybe it was revenge for the fire-bombing and sniper attacks of the previous night. But as far as the ‘heroes’ of Egypt are concerned, it was not their finest hour.”

“Why Israel fears a free Egypt”

That’s the title of Middle East analyst and negotiator Aaron David Miller’s op-ed in today’s Washington Post: “The irony is that the challenges a new Egypt will pose to America and Israel won’t come from the worst-case scenarios imagined by frantic policymakers and intelligence analysts – an extremist Muslim takeover, an abrogation of peace treaties, the closing of the Suez Canal – but from the very values of participatory government and free speech that free societies so cherish. In a more open Egypt, diverse voices reflecting Islamist currents and secular nationalists will be louder. And by definition, these voices will be more critical of America and Israel.”

Alternet/Reuters — Egypt finance minister says unrest losses huge“:

  • Says 1 million tourists have left country
  • Says government to honour T-bill and bond commitments
  • Says food prices to be controlled after crisis

“Resilience of the crowd”

More than 8 hours after the protests began, AJE reports energy still strong.

8pm Cairo/noon CST

RT @Egyptocracy: Woman in niqab standing in Tahrir today holding a sign: #Egypt is for all Egyptians, Muslims and Christians

(reflecting the same spirit I heard earlier today–during Friday prayers someone said today’s protests were not about ideology or religion but about removing the Mubarak regime.)

A little levity

RT @BorowitzReport: World Cannot Believe Mubarak Hasn’t Fucking Left Yet: http://bit.ly/i0J1Bz

NYT: “Egyptian Government Figures Join Protesters”

The Gray Lady reports the following faces among the crowd:

  • secretary general of the Arab League and former foreign minister Amr Moussa, who seemingly tried to align himself with the protesters but was drowned out by the crowd’s roars of approval.
  • Defense minister and deputy prime minister Field Marshal Mohamed Tantawi was the first member of the ruling government elite to enter the square — “he seemed to be concerned mostly with reviewing the troops and did not seek to speak to the crowd, though he did chat with some protesters.”
  • Public spokesman for Al Azhar, Mohamed Rafah Tahtawy, informed reporters that he is quitting his position: “I am participating in the protests and I have issued statements that support the revolutionists as far as they go.”

“More women” reportedly at Alexandria

10:30 am CST/6:30 pm Alexandria: According to one AJE correspondent, women have a pronounced presence at Alexandria in comparison to some of the other protests.

“Death or Freedom”

10 am CST/6 pm Cairo: Crowds not thinning from earlier in the day, surprising Al Jazeera English anchors and correspondents. Reporter live at Tahrir says the protesters are saying “death or freedom” — he also observes that the “only indication that the protesters will accept anything is if President Mubarak steps down.”

Al Jazeera English LIVE feed:

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Friday Reads

Good Morning and Happy Lunar New Year

The Egyptian revolution continues to be the top story around the world. We will continue to run live blog updates to give you the latest reliable news sources on the subject.  There’s a few stories on the economy that I’d like to share this morning beyond that topic.

First, Happy Lunar New Year!!

2011 is the Year of the Metal Rabbit.

Chinese astrologer Alvin Ang of Bazi Destiny foresees “the global situation may be affected by serious political change and global calamities.”

Hong Kong-based feng shui master Joseph Wong gives a different take. “This coming year everything will be better than last year,” he told CNN’s Pauline Chiou. “They will see business go upwards mostly, but take care with the shares and stocks. There will be some fluctuations in August and September.”

Fed Chair Ben Bernanke gave a speech at the National Press Club yesterday that indicated continuing concern about the ability of the current recovery to sustain any reasonable decrease in the unemployment rate.  He also indicated the need for a long term plan to deal with the Federal deficit.  There were a few mentions of the continuing need for QE and statements that the monetary policy to date had worked given the recovery of the equity markets.  He did sound a bit more upbeat than the last time we heard from him and while he acted like the recovery was slower than any one would wish, he did state that he felt it was becoming ‘self-sustaining’.

Here’s some analysis on our unemployment vis a vis the Bernanke Statements from The Economist.

The Fed’s forecast range for the unemployment rate in 2012 is 7.7% to 8.2%, and the Congressional Budget Office  forecasts an unemployment rate of 8.4% (this forecast dates to after the announcement of QE2, but isn’t meaningfully different from its forecasts from the summer of 2010). This would suggest that with QE2 in place, American unemployment is likely to be between 6% and 7% in 2012. That’s not full employment, but it’s pretty close. You can argue that more needs to be done (indeed, I think the Fed itself could do more). But it is worth noting that the Fed has put the American economy on a substantially better recovery path than it faced before (Scott Sumner would say it has returned the economy to the path off which it previously led it).A big risk is that the Fed will back away from its policy too quickly, thinking all is going well and worrying premptively about inflation. As Karl Smith says, today’s speech is somewhat reassuring on that front.

The NYT had an op ed up on Trade indicating that Republicans are trying to remove some provisions that now help workers retrain should they lose their jobs to overseas locations.  It’s worth reading just to see how truly Dickensian the Republicans seem to be these days.

Most Republican lawmakers claim they are pro-trade. Their principled position is evidently no match for parochialism and politics. Last month, a conflict over imported sleeping bags between a company in Alabama and a rival in Kentucky led Senate Republicans to block the extension of the Generalized System of Preferences, or G.S.P., which has granted preferential access to some $20 billion worth of imports from developing countries.

Now Senator Jon Kyl and his colleagues in the Finance Committee are threatening to block the Trade Adjustment Assistance program, which provides income and training for American workers whose employers can’t compete with rising imports. It is due to expire on Feb. 12, and Mr. Kyl and company are refusing to extend it unless the White House promises to advance the long-pending trade deal with Colombia.

Speaking of Dickensian Republican policy, the GOP dropped the ‘forcible rape’ language from HR3.  The Hyde Amendment has long entertained the idiocy of letting one loud and obnoxious group of zealots deny Federal  funding of their personal pet peeve while the rest of us continue to fund all kinds of abominable projects. Tops on my opt out list  are renditions for torture and bail outs of Investment banks.  But, American Fetus Fetishists get special treatment.  At least this attempt at narrowing rape definitions is gone now.

House Republicans plan to sidestep a charged debate over the distinction between “forcible rape” and “rape” by altering the language of a bill banning taxpayer subsidies for abortions.

The provision in question, written as an exemption from the ban for women who become pregnant as a result of “forcible rape,” touched off a firestorm of criticism from women’s groups, and it gained enough attention to become the subject of a satirical segment on Comedy Central’s “The Daily Show with Jon Stewart.”

But a spokesman for the bill’s author, Rep. Chris Smith (R-N.J.), says the modifier “forcible” will be dropped so that the exemption covers all forms of rape, as well as cases of incest and the endangerment of the life of the mother.“The word forcible will be replaced with the original language from the Hyde Amendment,” Smith spokesman Jeff Sagnip told POLITICO, referring to the long-standing ban on direct use of taxpayer dollars for abortion services.

A real Democratic congress and president would’ve gotten rid of this stupid provision by now. However, here is something that if true will make me do the Snoopy dance.

The Obama administration is examining whether the new health care law can be used to require insurance plans to offer contraceptives and other family planning services to women free of charge.

Such a requirement could remove cost as a barrier to birth control, a longtime goal of advocates for women’s rights and experts on women’s health. But it is likely to reignite debate over the federal role in health care, especially reproductive health, at a time when Republicans in Congress have vowed to repeal the law or dismantle it piece by piece. It is also raising objections from the Roman Catholic Church and is expected to generate a robust debate about privacy.

The law says insurers must cover “preventive health services” and cannot charge for them. The administration has asked a panel of outside experts to help identify the specific preventive services that must be covered for women.

Administration officials said they expected the list to include contraception and family planning because a large body of scientific evidence showed the effectiveness of those services. But the officials said they preferred to have the panel of independent experts make the initial recommendations so the public would see them as based on science, not politics.

Many obstetricians, gynecologists, pediatricians and public health experts have called for coverage of family planning services, including contraceptives, without co-payments, deductibles or other cost-sharing requirements.

Will the Cult of the Angry Sky God get the ultimate veto on this too?

Well, back to the exercise equipment folks!  Bloomberg.com says ‘American Waistlines Expand Fastest Among Rich Nations’,

Americans grew fatter at a faster pace than residents of any other wealthy nation since 1980, during a period when obesity worldwide nearly doubled, researchers found.

Almost 10 percent of the world’s population was obese in 2008, according to studies published today by the medical journal The Lancet. The percentage of people with uncontrolled hypertension, or high blood pressure, fell, with high-income countries showing a larger drop. Cholesterol levels declined in North America, Australia and Europe, but increased in East and Southeast Asia as well as the Pacific region, researchers said.

What’s on your reading and blogging list today?

Happy New Year!!!