December 28, 2011
On the Power of Naming Things
For the sake of argument, let's suppose that I'm right: if we want a functional, modern, democratic national government we must have an entirely new constitution and, in spite of the current odds against, that eventually we will have one. But, then, should we keep the name of our country the same? The United States of America seems such a throwback to the colonial era, in sync with our current dysfunctional government but perhaps not quite an appropriate name for a new government. And what about the American flag? Too much change in either our name or our flag, or both, would be difficult, perhaps in themselves as much a barrier to reform as it will be to devise and gain acceptance for a new constitution. Just something to ponder...
In Praise of Milk
If you're of a certain age you may remember that milk used to taste better. A cold glass of milk being a treat. And plain whole milk being just as good (or better) than half and half in coffee. Those were the days of local milk home delivery, in glass bottles. Somewhere along the way in the 1960s-1970s all that changed as we traded freshness and flavor for convenience. Of course, as people get older they tend to drink less milk anyhow so for most the loss seems less acute, or goes unnoticed. Younger folks have no idea. But if you live in Virginia or the DC area you may be able find outstanding retro milk — produced without the use of hormones or antibiotics — from the Homestead Creamery, sold in certain Whole Foods stores, and other outlets, and also home delivered in a limited area around southwest Virginia.
December 16, 2011
Damn His Eyes
Chris Hitchens was a user, of people. I kept his last message to me on my answering machine for I don't know how long, but eventually erased it out of dismay regarding his militancy toward the former Yugoslavia. I could say more, but I think Sam Smith says it much better than I could ever do.
December 13, 2011
Family News
On Thanksgiving Day, my dad, who's eighty eight years old, had a heart attack. A relatively mild one — his heart wasn't damaged. He was two weeks at one local hospital, discharged to a rehab facility for about six hours, suffered a second, very, very mild heart attack, and spent about a week at a different hospital. He'd had a quadruple bypass about fifteen years ago, with multiple stents added over the years, but these were his first heart attacks. Now he's got a new stent and his heart seems to be stable. This afternoon the hospital sent him to a second rehab facility (less than five minutes driving from me), so hopefully he'll be back up on his feet and getting around on his own much as before, though that may take a little while.
December 9, 2011
The EU Panics
It's more than passingly ironic that David Cameron, an arch conservative, should find himself the last defender of Keynesianism in Europe. Probably he doesn't see it that way but Cameron's entirely correct rejection of a new, treaty-imposed fiscal straightjacket means that the UK, alone among EU member states, will retain the ability for government to step in and spend when the economy experiences a lack of demand. For the rest of the EU the new treaty will mean leaping from the frying pan into the fire: national adjustments to balance of payments problems within the EU will become more difficult, not easier, and by concentrating on government debt instead of the regulation of financial markets the EU is only setting itself up for more market manipulation. In the throes of predictable balance of payments crises, one country after another will face withering fire from "nation state short-sellers" in the bond markets. The European financial crisis is about to get much worse.
December 1, 2011
Euro Gestalt
Now that Italy is firmly fixed in the crosshairs of the bond market and now that the Eurozone crisis is widely seen by the wise and the good as having the shortest of fuses before it implodes, two things are notable for their absence: The "fixes" under discussion don't include either the regulation or the closure of derivatives markets, and the political role of Germany on the loose has gone largely unnoticed. Why is that?
