Doctor Doom: Global Stag-Deflation Has Arrived

Roubini The return rate on gifts and the cashing of gift cards is up considerably. Elsewhere holiday gift cards from places like Wal-Mart are increasingly being used for food purchases. Things are looking worse and worse. Roubini in Project Syndicate:

Traditionally, central banks have been the lenders of last resort, but now they are becoming the lenders of first and only resort. As banks curtail lending to each other, to other financial institutions, and to the corporate sector, central banks are becoming the only lenders around.

Likewise, with household consumption and business investment collapsing, governments will soon become the spenders of first and only resort, stimulating demand and rescuing banks, firms, and households. The long-term consequences of the resulting surge in fiscal deficits are serious. If the deficits are monetized by central banks, inflation will follow the short-term deflationary pressures; if they are financed by debt, the long-term solvency of some governments may be at stake unless medium-term fiscal discipline is restored.

Nevertheless, in the short run, very aggressive monetary and fiscal policy actions – both traditional and non-traditional – must be undertaken to ensure that the inevitable stag-deflation of 2009 does not persist into 2010 and beyond. So far, the US response appears to be more aggressive than that of the euro zone, as the European Central Bank falls behind the curve on interest rates and the EU’s fiscal stance remains weak.

Given the severity of this economic and financial crisis, financial markets will not mend for a while. The downside risks to the prices of a wide variety of risky assets (equities, corporate bonds, commodities, housing, and emerging-market asset classes) will remain until there are true signs – towards the end of 2009 – that the global economy may recover in 2010.

Gideon Levy on the Assault on Gaza

In Ha'aretz:

Israel did not exhaust the diplomatic processes before embarking yesterday on another dreadful campaign of killing and ruin. The Qassams that rained down on the communities near Gaza turned intolerable, even though they did not sow death. But the response to them needs to be fundamentally different: diplomatic efforts to restore the cease-fire – the same one that was initially breached, one should remember, by Israel when it unnecessarily bombed a tunnel – and then, if those efforts fail, a measured, gradual military response.

But no. It's all or nothing. The IDF launched a war yesterday whose end, as usual, is hoping someone watches over us.

Blood will now flow like water. Besieged and impoverished Gaza, the city of refugees, will pay the main price. But blood will also be unnecessarily spilled on our side. In its foolishness, Hamas brought this on itself and on its people, but this does not excuse Israel's overreaction.

The history of the Middle East is repeating itself with despairing precision. Just the frequency is increasing. If we enjoyed nine years of quiet between the Yom Kippur War and the First Lebanon War, now we launch wars every two years. As such, Israel proves that there is no connection between its public relations talking points that speak of peace, and its belligerent conduct.

Israel also proves that it has not internalized the lessons of the previous war. Once again, this war was preceded by a frighteningly uniform public dialogue in which only one voice was heard – that which called for striking, destroying, starving and killing, that which incited and prodded for the commission of war crimes.

We have no words left

Ali Abunimah in The Guardian:

ScreenHunter_04 Dec. 30 15.15 “I will play music and celebrate what the Israeli air force is doing.” Those chilling words were spoken on al-Jazeera on Saturday by Ofer Shmerling, an Israeli civil defence official in the Sderot area adjacent to the Gaza Strip. For days Israeli planes have bombed Gaza. Almost 300 Palestinians have been killed and a thousand injured, the majority civilians, including women and children. Israel claims most of the dead were Hamas “terrorists”. In fact, the targets were police stations in dense residential areas, and the dead included many police officers and other civilians. Under international law, police officers are civilians, and targeting them is no less a war crime than aiming at other civilians.

Palestinians are at a loss to describe this new catastrophe. Is it our 9/11, or is it a taste of the “bigger shoah” Matan Vilnai, the deputy defence minister, threatened in February, after the last round of mass killings?

Israel says it is acting in “retaliation” for rockets fired with increasing intensity ever since a six-month truce expired on 19 December. But the bombs dropped on Gaza are only a variation in Israel's method of killing Palestinians. In recent months they died mostly silent deaths, the elderly and sick especially, deprived of food, cancer treatments and other medicines by an Israeli blockade that targeted 1.5 million people – mostly refugees and children – caged into the Gaza Strip. The orders of Ehud Barak, the Israeli defence minister, to hold back medicine were just as lethal and illegal as those to send in the warplanes.

More here.

Palestine’s Guernica and the Myths of Israeli Victimhood

Mustafa Barghouti in the Huffington Post:

U1_mustafa-barghouti 1. Israelis have claimed to have ended the occupation of the Gaza Strip in 2005.

While Israel has indeed removed the settlements from the tiny coastal Strip, they have in no way ended the occupation. They remained in control of the borders, the airspace and the waterways of Gaza, and have carried out frequent raids and targeted assassinations since the disengagement.

Furthermore, since 2006 Israel has imposed a comprehensive siege on the Strip. For over two years, Gazans have lived on the edge of starvation and without the most basic necessities of human life, such as cooking or heating oil and basic medications. This siege has already caused a humanitarian catastrophe which has only been exacerbated by the dramatic increase in Israeli military aggression.

2. Israel claims that Hamas violated the cease-fire and pulled out of it unilaterally.

Hamas indeed respected their side of the ceasefire, except on those occasions early on when Israel carried out major offensives in the West Bank. In the last two months, the ceasefire broke down with Israelis killing several Palestinians and resulting in the response of Hamas. In other words, Hamas has not carried out an unprovoked attack throughout the period of the cease-fire.

Israel, however, did not live up to any of its obligations of ending the siege and allowing vital humanitarian aid to resume in Gaza. Rather than the average of 450 trucks per day being allowed across the border, on the best days, only eighty have been allowed in – with the border remaining hermetically sealed 70% of the time. Throughout the supposed 'cease-fire' Gazans have been forced to live like animals, with a total of 262 dying due to the inaccessibility of proper medical care.

More here.

Real Ways to Stand With the People of Gaza

Tom J in Daily Kos:

ScreenHunter_05 Dec. 30 15.30 A few suggestions for action, and you can supply others in the comments.

1. Stay informed
An increasingly invaluable resource is The Electronic Intifada. Listen to Palestinian voices and solidarity activists who are on the ground in Gaza. Listen to listener sponsored radio, like KPFA. Flashpoints has excellent interviews with people on the ground. You will not hear much from the military generals , for that you have CNN.

2. Donate so that the people of Gaza may live
Israel's starvation “diet” is causing a humanitarian catastrophe, and may actually cause more casualties, in a quiet way, than the US-supplied bombs that fall in city centers in Gaza. Children are especially vulnerable. There is also a dire situation of lack of medical supplies, as Israel restricts the amount of aid allowed into Gaza. Now with thousands of massacre casualties, i can't imagine what this can be like. You can make a difference. Join the Middle East Children's Alliance in sending much needed medical aid to Gaza. It would be cool to let them know Daily Kos sent you.

3. Advocate for a new US policy in the Middle East
Our political work must not end on election nights. Politicians, with few exceptions, will do nothing for human rights unless they are pushed, prodded, and forced to do so. When Congressman Ron Dellums was first elected to Congress, he offered at every congressional session a bill to impose sanctions on the Apartheid system in South Africa. For many years, only a handful of congresspeople joined him. All that changed when a strong movement started on the street demanding change. How much more so is our work needed now for a change in US policy.

More here.

Tuesday Poem

///
Identitiy card

Mahmoud Darwish

Write down!
I am an Arab
And my identity card number is fifty thousand
I have eight children
And the ninth will come after a summer
Will you be angry?

Write down!
I am an Arab
Employed with fellow workers at a quarry
I have eight children
I get them bread
Garments and books
from the rocks..
I do not supplicate charity at your doors
Nor do I belittle myself at the footsteps of your chamber
So will you be angry?

Write down!
I am an Arab
I have a name without a title
Patient in a country
Where people are enraged
My roots
Were entrenched before the birth of time
And before the opening of the eras
Before the pines, and the olive trees
And before the grass grew

My father.. descends from the family of the plow
Not from a privileged class
And my grandfather..was a farmer
Neither well-bred, nor well-born!
Teaches me the pride of the sun
Before teaching me how to read
And my house is like a watchman's hut
Made of branches and cane
Are you satisfied with my status?
I have a name without a title!

Write down!
I am an Arab
You have stolen the orchards of my ancestors
And the land which I cultivated
Along with my children
And you left nothing for us
Except for these rocks..
So will the State take them
As it has been said?!

Therefore!
Write down on the top of the first page:
I do not hate poeple
Nor do I encroach
But if I become hungry
The usurper's flesh will be my food
Beware..
Beware..
Of my hunger
And my anger!
/

Salman Rushdie: provoking people is in my DNA

From The Telegraph:

Rushdie12_1213256c A car pulls up outside a Georgian house in Soho. Out steps Salman Rushdie. He's dressed entirely in black – black overcoat, black scarf, black jacket, black sweater, trousers, shoes… The only thing not completely black is his shirt and that's only because it's got a few white stripes on it. He looks – actually, he looks just like a hit-man. In his hand he carries a polythene bag full of books. When he comes upstairs, I find myself peering through the opaque plastic trying to make out the titles. One of them turns out to be the French version of his last novel, The Enchantress of Florence – now out in paperback. The book, declares Rushdie with satisfaction, has done terrifically well in France, getting 'the sort of rave reviews you find yourself making up in the bath'.

Over here, it had a more mixed reception, but then, as Rushdie says of himself, 'I'm not the sort of writer who ever gets five out of 10 reviews. I tend to get 11 out of 10, or minus one out of 10. That's all right, though; it shows that people are having strong reactions.' The reactions to Rushdie have been so strong in certain sections of the British press that you might expect him to be wary of interviews – hostile even. In fact, he's relaxed, genial and prone to bursts of Mutley-like chuckling. Plopping one Canderel into his cup of tea, he sets his BlackBerry down on the table beside him. Over the next hour it regularly chugs with incoming emails.

More here.

Darwin’s Living Legacy–Evolutionary Theory 150 Years Later

From Scientific American:

Darwins-living-legacy_1 When the 26-year-old Charles Darwin sailed into the Galápagos Islands in 1835 onboard the HMS Beagle, he took little notice of a collection of birds that are now intimately associated with his name. The naturalist, in fact, misclassified as grosbeaks some of the birds that are now known as Darwin’s finches. After Darwin returned to England, ornithologist and artist John Gould began to make illustrations of a group of preserved bird specimens brought back in the Beagle’s hold, and the artist recognized them all to be different species of finches. From Gould’s work, Darwin, the self-taught naturalist, came to understand how the finches’ beak size must have changed over the generations to accommodate differences in the size of seeds or insects consumed on the various islands. “Seeing this gradation and diversity of structure in one small, intimately related group of birds, one might really fancy that from an original paucity of birds in this archipelago, one species had been taken and modified for different ends,” he noted in The Voyage of The Beagle, published after his return in 1839.

Twenty years later Darwin would translate his understanding of finch adaptation to conditions on different islands into a fully formed theory of evolution, one emphasizing the power of natural selection to ensure that more favorable traits endure in successive generations. Darwin’s theory, core features of which have withstood critical scrutiny from scientific and religious critics, constituted only the starting point for an endlessly rich set of research questions that continue to inspire present-day scientists. Biologists are still seeking experimental results that address how natural selection proceeds at the molecular level—and how it affects the development of new species.

More here.

Monday, December 29, 2009

Sunday, December 28, 2008

If Gaza falls . . .

Sara Roy in the London Review of Books:

ScreenHunter_03 Dec. 29 06.48 Israel’s siege of Gaza began on 5 November, the day after an Israeli attack inside the strip, no doubt designed finally to undermine the truce between Israel and Hamas established last June. Although both sides had violated the agreement before, this incursion was on a different scale. Hamas responded by firing rockets into Israel and the violence has not abated since then. Israel’s siege has two fundamental goals. One is to ensure that the Palestinians there are seen merely as a humanitarian problem, beggars who have no political identity and therefore can have no political claims. The second is to foist Gaza onto Egypt. That is why the Israelis tolerate the hundreds of tunnels between Gaza and Egypt around which an informal but increasingly regulated commercial sector has begun to form. The overwhelming majority of Gazans are impoverished and officially 49.1 per cent are unemployed. In fact the prospect of steady employment is rapidly disappearing for the majority of the population.

On 5 November the Israeli government sealed all the ways into and out of Gaza. Food, medicine, fuel, parts for water and sanitation systems, fertiliser, plastic sheeting, phones, paper, glue, shoes and even teacups are no longer getting through in sufficient quantities or at all. According to Oxfam only 137 trucks of food were allowed into Gaza in November. This means that an average of 4.6 trucks per day entered the strip compared to an average of 123 in October this year and 564 in December 2005.

More here.

Drug Companies & Doctors: A Story of Corruption

Marcia Angell in the New York Review of Books:

ScreenHunter_02 Dec. 29 06.37 Recently Senator Charles Grassley, ranking Republican on the Senate Finance Committee, has been looking into financial ties between the pharmaceutical industry and the academic physicians who largely determine the market value of prescription drugs. He hasn't had to look very hard.

Take the case of Dr. Joseph L. Biederman, professor of psychiatry at Harvard Medical School and chief of pediatric psychopharmacology at Harvard's Massachusetts General Hospital. Thanks largely to him, children as young as two years old are now being diagnosed with bipolar disorder and treated with a cocktail of powerful drugs, many of which were not approved by the Food and Drug Administration (FDA) for that purpose and none of which were approved for children below ten years of age.

Legally, physicians may use drugs that have already been approved for a particular purpose for any other purpose they choose, but such use should be based on good published scientific evidence. That seems not to be the case here. Biederman's own studies of the drugs he advocates to treat childhood bipolar disorder were, as The New York Times summarized the opinions of its expert sources, “so small and loosely designed that they were largely inconclusive.”

In June, Senator Grassley revealed that drug companies, including those that make drugs he advocates for childhood bipolar disorder, had paid Biederman $1.6 million in consulting and speaking fees between 2000 and 2007. Two of his colleagues received similar amounts. After the revelation, the president of the Massachusetts General Hospital and the chairman of its physician organization sent a letter to the hospital's physicians expressing not shock over the enormity of the conflicts of interest, but sympathy for the beneficiaries: “We know this is an incredibly painful time for these doctors and their families, and our hearts go out to them.”

More here. [Thanks to Tasnim Raza.]

Caveat Donor

Yudhijit Bhattacharjee in The Atlantic:

ScreenHunter_01 Dec. 29 05.55 In a country where 300 million people live on less than a dollar a day, Amit Kumar—nicknamed “Dr. Horror” by the Indian media after his arrest last winter for heading an illicit global kidney-transplant ring—had little trouble finding homegrown organ donors. One favorite hunting ground was a strip of restaurants, shops, and hovels near an Islamic shrine, or dargah, in Mahim, a predominantly Muslim precinct of Mumbai. Devotees of the dargah, which attracts people of all faiths, donate money to restaurants to help feed the beggars who cluster there. Last June, walking past one such restaurant whose kitchen extends to the sidewalk, I saw a dozen or so men huddled within scorching distance of giant cauldrons in which meat and potatoes simmered. Expressions glazed and clothing in tatters, the men watched, motionless and silent, their patience unwavering. I felt as if I were looking at a still photo.

Kumar, who’s now on trial, has told officials that he sent his agents to offer such men anywhere from $500 to $2,500 for a kidney. Elsewhere, in the fast-growing towns of states like Haryāna and Uttar Pradesh, Kumar’s ring also went after newly arrived migrant workers seeking jobs.

More here.

“Working Sisters” The everyday lives of migrant women in China’s world factories

From Harvard Magazine:

China The massive rural-to-urban labor migration that has been transforming China since the late 1980s—an estimated 130 million people—is unprecedented in that nation’s history. Unprompted by direct ecological or political factors such as famine, war, or the forced relocation of population groups under draconian state policy, migration in post-Mao China is more likely to be instead the result of structural forces (economic need and consequences of agricultural reform) that are beyond the control of individual farmers. Motivated by the search for opportunities to improve their own lives, rural people have taken the initiative, making decisions to shape their own destinies—and fostering unforeseen entrepreneurial individualism in the process. Above all, restless young village women have assumed a major role in the current population shift, establishing a brand-new identity as dagongmei (literally, “working sisters”) in the booming industrial cities in China’s coastal areas, contributing to what sociologists call the “feminization of the global workforce.”

In Factory Girls: From Village to City in a Changing China, Leslie T. Chang ’91, who spent a decade in China as a correspondent for the Wall Street Journal, delivers a vivid portrayal both of the dynamics of this internal migration and of women migrants as active players in globalization and local social and economic change.

More here.

Am I Still Here? Looking for validation in a wired world

From Orion Magazine:

“We fall in love, we drink hard, we run to and fro upon the earth like frightened sheep,” wrote Robert Louis Stevenson. “And now you are to ask yourself if, when all is done, you would not have been better to sit by the fire at home, and be happy thinking.”
Do we like sitting by the fire?

We do.

Does it make us happy to think? It does. For a while. But pretty soon don’t we start worrying, now that we’ve stepped away from the world, that the world is slipping past without us? Don’t we wonder, when we come back, Am I still here?

Oh, the strange mix of revulsion and pleasure Z and I felt when we returned from five days under the sky in the middle of Idaho and watched the e-mail counter piling up: 21, 32, 58, 74 e-mails! Z has 74 e-mails! Z is indeed part of it all! Z was missed! Z exists!

More here.

What’s All the Flap About?

Fenella Saunders in American Scientist:

ScreenHunter_21 Dec. 28 12.37 It’s not just poetic alliteration that makes the pat phrase “a butterfly fluttered by” so appropriate. The insects, although not always that speedy, often take a flight path that involves so many erratic dips and turns that they almost look out of control. But it’s not because they can’t do any better: Such unpredictable flight is how butterflies evade birds and other predators. However, most butterflies are brightly colored, which would seem to counter their evasiveness by making them easier to spot and track. “The question always bothered me,” says Thomas Eisner, a biologist at Cornell University. “Why are butterflies flaunting their visibility?” As Eisner and Benjamin Jantzen, a doctoral candidate now at Carnegie Mellon University, report in the October 28 issue of the Proceedings of the National Academy of Sciences, a butterfly’s ability to evade and its blatant pigmentation may go hand in hand.

The first step was to find out what physical feature of butterflies allows them to move so erratically. It’s been known for about a century that the front wings in butterflies are the ones driven by the insect’s muscles; the hind wings are passively coupled to the front ones. Eisner decided to investigate just what the back wings were doing by trimming them away bit by bit. To his surprise, he found that if he removed the entire hind wing, the insects had no problem flying. Indeed, when Eisner went on to test an extensive list of butterfly and moth species, he found that without exception they were all capable of sustained flight with only their front wings. “It is pretty startling that they’re that overendowed with lifting surface,” says Jantzen.

More here.

Scientific illiteracy all the rage among the glitterati

Steve Conner in The Independent:

ScreenHunter_20 Dec. 28 12.26 When it comes to science, Barack Obama is no better than many of us. Today he joins the list of shame of those in public life who made scientifically unsupportable statements in 2008.

Closer to home, Nigella Lawson and Delia Smith faltered on the science of food, while Kate Moss, Oprah Winfrey and Demi Moore all get roastings for scientific illiteracy.

The Celebrities and Science Review 2008, prepared by the group Sense About Science, identifies some of the worst examples of scientific illiteracy among those who profess to know better – including top politicians.

Mr Obama and John McCain blundered into the MMR vaccine row during their presidential campaigns. “We've seen just a skyrocketing autism rate,” said President-elect Obama. “Some people are suspicious that it's connected to the vaccines. This person included. The science right now is inconclusive, but we have to research it,” he said.

His words were echoed by Mr McCain. “It's indisputable that [autism] is on the rise among children, the question is what's causing it,” he said. “There's strong evidence that indicates it's got to do with a preservative in the vaccines.”

Exhaustive research has failed to substantiate any link to vaccines or any preservatives. The rise in autism is thought to be due to an increased awareness of the condition.

More here.

Waltz with Bashir

A. O. Scott in the New York Times:

“Waltz With Bashir” is a memoir, a history lesson, a combat picture, a piece of investigative journalism and an altogether amazing film.

Directed by Ari Folman, an Israeli filmmaker whose struggle to make sense of his experience as a soldier in the Lebanon war of 1982 shapes its story, “Waltz” is by no means the world’s only animated documentary, a phrase that sounds at first like a cinematic oxymoron. Movies like Richard Linklater’s “Waking Life” and Brett Morgen’s “Chicago 10” have used animation to make reality seem more vivid and more strange, producing odd and fascinating experiments.

But Mr. Folman has gone further, creating something that is not only unique but also exemplary, a work of astonishing aesthetic integrity and searing moral power.

That it is also a cartoon is not incidental to this achievement.

More here.

Oh the humanity

Robyn Creswell contemplates the provocations of Faisal Devji, whose fascinating new book upturns conventional accounts of al Qa’eda by investigating ‘the rich inner life of jihad’.

From The National:

ScreenHunter_19 Dec. 28 12.00 The field of jihadi studies, situated at the crossroads of policy-making, intelligence work, journalism and academic research, sprang up almost overnight following the attacks of September 11. It now boasts all the infrastructure that comes with the discovery of a glittering new frontier, as fascinating in its way as superstrings or Martian ice. Conferences, courses and research centres are devoted to explaining the intricacies of holy war. Amidst this mushroom patch of interlocking institutions and individuals, the work of Faisal Devji – an assistant professor at the New School for Social Research in New York – sticks out like a rare flower. Devji’s studies, which focus on the doings and sayings of al Qa’eda, are so at odds with what passes for common sense in this field that one sometimes wonders if he isn’t merely thumbing his nose at received wisdom. In his latest book, The Terrorist in Search of Humanity, he suggests that al Qa’eda has in some sense inherited the legacy of Mahatma Gandhi. He also argues that the ideology of jihad is a “humanitarian” one, and that the militants of al Qa’eda are “the intellectual peers” of environmentalists and pacifists. What does he mean by such provocations?

More here.