notes jan 4

January 4, 2009 § Leave a comment

    Reading taylor confidence games cont.

    In response to these changes, both financial engineering and hedge funds grew rapidly in the 19805. Concentrating largely but not exclusively on fixed income investments, financial engineers create customized products for their clients. Many of these products are later standardized and sold off the shelf on specialized markets. Financial engineers, who work in what is known as structured finance, understand the economy as a game made up of a set of agreed-upon rules. The challenge for financial engineers is to manipulate these rules to create new products, which are deincome, decrease taxes, and redistribute risk.

    SPECTERS OF CAPITAL 165

    Money is a form of memory, but we have impoverished ourselves by thinking that things have value that have no memory. Modern furniture for example, which is cheap, has no history, and will be thrown out. The disposable society.

    Memory is the mother of the muses. Money. Memory begets bastards.. Appreciation of the memory capacity of things. Hey, and of people.

    It is a shift toward qualitative appreciations that we need.

    Hyde, I the gift economy, comes close.

    Jews and homeland. The problem of the alienated. Moses walked out of place.

    clip_image001

    Marxism, Philosophy, and the East/West Question

    By Gary Tedman

    Pasted from <http://www.politicalaffairs.net/article/articleview/7070/1/341/>

    Nietzsche’s (1954 pp.46-7) epistemological grasp, as in the passage he quotes from Nietzsche about language (1995, see p203): 

    “…a mobile army of metaphors, metonyms, and anthropomorphism – in short, a sum of human relations, which have been enhanced, transposed, and embellished poetically and rhetorically, and which after long use seem firm, canonical, and obligatory to a people: truths are illusions about which one has forgotten that this is what they are.”

    Pasted from <http://www.politicalaffairs.net/article/articleview/7070/1/341/>

    http://www.theglobalsummit.org/

    http://www.socialtext.net/wikinomics/index.cgi

    Afford ability requires that tax and budget issues must be a solid focus of our governance. Those who benefit from the social and economic structures,the laws regulations and socially created opportunities, must bear the costs in ways that move us towards a more equitable spread of benefits and costs. “Common sense” requires that we share an agenda of learning from each other, to know each other’s minds, to appreciate each others’ values and histories,and to find new ways to work together. Of course it is not possible for me to listen to each of you for as long as you have listened to me. But I want to act, as much as I can, as if I have had this conversation with each of you. So, as we leave here, lets maintain the sense of presence we have created here today,of being together as a nation with high aspirations for ethically high actions and personal and community fulfillment.

    Pasted from <http://groupjazz.gjhost.com/gj/swebsock/0030266/0969245/GJ8/main/viewitem.cml?7976+5+489+4654+203+x+1+x#here>

    The fault, however, lies not in Republicans’ stars but in themselves. Forty years ago the G.O.P. decided, in effect, to make itself the party of racial backlash. And everything that has happened in recent years, from the choice of Mr. Bush as the party’s champion, to the Bush administration’s pervasive incompetence, to the party’s shrinking base, is a consequence of that decision…

    “Government is not the solution to our problem,” declared Ronald Reagan. “Government is the problem.” So why worry about governing well?

    Where did this hostility to government come from? In 1981 Lee Atwater, the famed Republican political consultant, explained the evolution of the G.O.P.’s “Southern strategy,” which originally focused on opposition to the Voting Rights Act but eventually took a more coded form: “You’re getting so abstract now you’re talking about cutting taxes, and all these things you’re talking about are totally economic things and a byproduct of them is blacks get hurt worse than whites.” In other words, government is the problem because it takes your money and gives it to Those People.

    Pasted from <http://www.dailykos.com/storyonly/2009/1/2/172839/7951/805/679570>

    Beryllus lapis est lucidus, albus et transparens. Cui datur forma concava pariter et convexa, et per ipsum, videns attingit prius invisible. Intellectualibus oculis si intellectualis beryllus, qui formam habeat maximam pariter et minimam, adaptur, per eius medium attingitus indivisibile omnium principum.

    The beryl is a brilliant, white and transparent stone. It is possessed simultaneously of a concave and a convex form, and whoever attempts to peer through it comes across things hitherto invisible. If we measure a beryl to reason and fix the gaze of eyes of reason upon it, we perceive the greatest and the smallest forms at once and are thus affected by the recognition of the inseparable origins of the all.

    –Niclas Krebs, later Cardinal Nicholas of Kues, De beryllo, cap. ii (1458) in Nikolaus von Kues’ philosophisch-theologische Werke in deutscher und lateinischer Sprache, vol. 3, p. 4 (S.H. transl.)

    Pasted from <http://harpers.org/subjects/NoComment>

    Leisure is a common attainment of humankind. But are we truly wiser than our forebears? Certainly the day that Cusanus imagines, when the human species advances to a form of communication in images, beyond speech and writing, has not yet reached us–though through the attainments of science, it may in fact be drawing near.

    Pasted from <http://harpers.org/subjects/NoComment>

    http://www.isj.org.uk/index.php4?id=255&issue=112

    The growth of wage labour implied the development of a “private life”, including sexuality, outside work. 

    Pasted from <http://www.isj.org.uk/index.php4?id=493&issue=120>

    he expansion of London in the 17th century meant thousands of people lived outside traditional rural controls on sexuality and made the Molly subculture possible. Further changes happened in the 19th century as part of attempts to ensure the dominance of the family.

    Pasted from <http://www.isj.org.uk/index.php4?id=493&issue=120>

    as with the militant demonstrations during Margaret Thatcher’s first two years in office (1979-81) 

    Pasted from <http://www.isj.org.uk/index.php4?id=476&issue=120>

    By Hans Nichols Jan. 3 (Bloomberg) — President-elect Barack Obama said that Democrats and Republicans need to act with urgency to address the “great and growing” economic crisis, warning of double-digit unemployment if swift action isn’t taken.

    Pasted from <http://news.google.com/>

    sought an easy victory in Dewey’s candidacy

    Pasted from <file:///C:\Users\Doug\Documents\GardenWorld%20Politics\Chapter%203.doc>

    Escape from Freedom[xxiv] and what not escaping from it could look like. “We shall avoid another century of conflict only if we understand the forces that caused the last one — the dark forces that conjure up ethnic conflict and imperial rivalry out of economic crisis, and in doing so negate our common humanity. They are forces that stir within us still.”

    Pasted from <file:///C:\Users\Doug\Documents\GardenWorld%20Politics\Chapter%203.doc>

    Milton Friedman became lord king guru of the world’s economists by standing up at the end of 1966 and warning everybody that the high-pressure economics of the Kennedy-Johnson administration was about to make inflation a real problem.

    Pasted from <http://delong.typepad.com/>

    He says he had planned to write about how financial developments during Mr. Greenspan’s 18-year tenure made the world safer. But the more he looked, the less he believed that. In the end, with Mr. Greenspan watching from the audience, he argued that disaster might loom. Incentives were horribly skewed in the financial sector, with workers reaping rich rewards for making money, but being only lightly penalized for losses, Mr. Rajan argued. 

    Pasted from <http://delong.typepad.com/>

    [T]he central bank presumably seeks to follow rules of helping only sound houses with good paper. The dilemma is that if it holds off too long, what had been good paper becomes bad…. Lending to sound houses introduces a note of discretion and judgment… questions of insider-outsider, favoritism, and prejudice…. [T]here are bound to be questions raised as to whehter the Establishment took care of its own and rejected the outsiders and pushy upstarts…

    Pasted from <http://delong.typepad.com/>

    Joseph Stiglitz:

    “I’ve been a bit astonished that all the discussion around the private-sector stimulus has centered on infrastructure,” he said. “Bailouts, too, are aimed at correcting mistakes of the past, so they are backward-looking. We would be much better off spending our money forward-looking. If we spend $700 billion on new technology and innovation, we’d have a stronger, new, real economy. Up to now, the discussion has focused on the sectors that have been mismanaged rather than the sectors that are creating our future.”

    Pasted from <http://economistsview.typepad.com/economistsview/>

    Given the actual course of events since 2000 (or 1992 for that matter), it is hard to argue that Wall Street did anything “wrong”. A much stronger case can be made that Wall Street correctly interpreted the political economy of the U.S. (which Wall Street strongly influences) and pocketed the proceeds (perhaps $200 billion in bonuses alone since 2000).

    Pasted from <http://economistsview.typepad.com/economistsview/2008/12/was-risk-misper/comments/page/2/#comments>

    He says he had planned to write about how financial developments during Mr. Greenspan’s 18-year tenure made the world safer. But the more he looked, the less he believed that. In the end, with Mr. Greenspan watching from the audience, he argued that disaster might loom. Incentives were horribly skewed in the financial sector, with workers reaping rich rewards for making money, but being only lightly penalized for losses, Mr. Rajan argued. 

    Pasted from <http://delong.typepad.com/>

    [T]he central bank presumably seeks to follow rules of helping only sound houses with good paper. The dilemma is that if it holds off too long, what had been good paper becomes bad…. Lending to sound houses introduces a note of discretion and judgment… questions of insider-outsider, favoritism, and prejudice…. [T]here are bound to be questions raised as to whehter the Establishment took care of its own and rejected the outsiders and pushy upstarts…

    Pasted from <http://delong.typepad.com/>

    Joseph Stiglitz:

    “I’ve been a bit astonished that all the discussion around the private-sector stimulus has centered on infrastructure,” he said. “Bailouts, too, are aimed at correcting mistakes of the past, so they are backward-looking. We would be much better off spending our money forward-looking. If we spend $700 billion on new technology and innovation, we’d have a stronger, new, real economy. Up to now, the discussion has focused on the sectors that have been mismanaged rather than the sectors that are creating our future.”

    Pasted from <http://economistsview.typepad.com/economistsview/>

    Given the actual course of events since 2000 (or 1992 for that matter), it is hard to argue that Wall Street did anything “wrong”. A much stronger case can be made that Wall Street correctly interpreted the political economy of the U.S. (which Wall Street strongly influences) and pocketed the proceeds (perhaps $200 billion in bonuses alone since 2000).

    Pasted from <http://economistsview.typepad.com/economistsview/2008/12/was-risk-misper/comments/page/2/#comments>

    http://www.nytimes.com/2009/01/04/opinion/04lewiseinhorn.html?pagewanted=print

    Sunday, January 04, 2009

    Gaza 2008: Micro-Wars and Macro-Wars

    Pasted from <http://www.juancole.com/>

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

What’s this?

You are currently reading notes jan 4 at Reflections on GardenWorld Politics Douglass Carmichael.

meta

%d bloggers like this: