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12121 [lbo-talk] Shakespeare on the current conjuncture -- rank: 1000

A friend who's involved in Florida real estate, and who's a major bear on the economic outlook, quotes this bit from Richard III as an observation on the current economy: > So now prosperity begins to mellow > And drop into the rotten mouth of death.

Document Size:	4899
Author:	Doug Henwood
Date:	Wed Dec 12 20:32:16 PST 2007

12122 [lbo-talk] the Fed's action today -- rank: 1000

[This is from Merrill Lynch's chief economist, David Rosenberg, who's been among Wall Street's biggest bears for quite a while. His basic message: it's something, but nowhere near enough.] Fed's action will do little to alleviate credit crunch In a nutshell, the Fed's newly created Term Auction Facility that was unveiled today combines the qualities of the regular repo operations with the wider collateral base at the discount window - but at a lower market-determined rate (compared to the d ...

Document Size:	7071
Author:	Doug Henwood
Date:	Wed Dec 12 20:29:08 PST 2007

12123 [lbo-talk] Roubini: Coordinated Central Banks Liquidity Injections -- Too Little Too Late To Address the Fundamental Problems of the Financial System -- rank: 1000

On Dec 12, 2007, at 4:38 PM, Ira Glazer quoted Roubini: > Given the worsening of the global liquidity and credit crunch with a > variety of short term interbank Libor spreads relative to policy rates > and relative to government bonds of same maturity being even higher > recently than at the peak of the crisis in August it is no surprise > that central banks were really desperate to do something. > > The announcement today of coordinated liquidity injections by FED, > ...

Document Size:	8338
Author:	Doug Henwood
Date:	Wed Dec 12 14:27:30 PST 2007

12124 [lbo-talk] Fwd: Oprah & Obama: Corporate Marketing for a Corporate Campaign - BAR Dec 12 -- rank: 1000

On Dec 12, 2007, at 10:49 AM, Max B. Sawicky wrote: >> [The excellent and underappreciated Glen Ford writes...] >> > > Yeah, except that's what he would say about Bob Avakian. No it's not.

Document Size:	5258
Author:	Doug Henwood
Date:	Wed Dec 12 12:22:02 PST 2007

12125 [lbo-talk] future generations -- rank: 1000

On Dec 12, 2007, at 1:43 PM, Wojtek Sokolowski wrote: > It strikes me as odd, > however, that a marginalized political faction > striving for recognition and political relevance > should embrace this issue as its key political agenda. > It is counterprductive, because whathever the left > has to say on this subject will be immediately > dismissed by the mainstream as an attempt to exonerate > criminals - which you admit is counterproductive. I sure don't want to "ex ...

Document Size:	5834
Author:	Doug Henwood
Date:	Wed Dec 12 10:58:47 PST 2007

12126 [lbo-talk] Fwd: Oprah & Obama: Corporate Marketing for a Corporate Campaign - BAR Dec 12 -- rank: 1000

[The excellent and underappreciated Glen Ford writes...] Black Agenda Report The weekly magazine of Black political thought and action Issue for Dec 12 Dec 18, 2007 Dear Doug: Feel free to use any of our pieces, with proper credit to author and site. In Solidarity, Glen Ford, Executive Editor www.BlackAgendaReport.com All stories are available at: www.BlackAgendaReport.com BAR-produced stories: Oprah & Obama: Corporate Marketing for a Corporate Campaign by BAR managing editor Bruce Dixon ...

Document Size:	12408
Author:	Doug Henwood
Date:	Wed Dec 12 07:30:03 PST 2007

12127 [lbo-talk] Shakespeare -- rank: 1000

On Dec 12, 2007, at 2:56 AM, Tahir Wood wrote: > But I was referring to Bakhtin's notion, which has influenced me > enormously, that the poeticising tendency is always on the > conservative, > official side of language, unless it is being explicitly debunked by > common speech. That means that poetic speech, if it appears to be > close > to an authorial point of view (i.e. not being debunked in any way), > serves a conservative function. No doubt I should read more Bakhti ...

Document Size:	5536
Author:	Doug Henwood
Date:	Wed Dec 12 07:25:48 PST 2007

12128 [lbo-talk] future generations -- rank: 1000

On Dec 12, 2007, at 9:09 AM, Alex Hogan wrote: > It was. In 1847 it was the first thing the legislature did when > Michigan became a state. That was so long ago! I'm talking since cap pun resumed in the late 1970s.

Document Size:	4693
Author:	Doug Henwood
Date:	Wed Dec 12 06:21:49 PST 2007

12129 [lbo-talk] future generations -- rank: 1000

On Dec 12, 2007, at 8:43 AM, Alex Hogan wrote: > First state ever? What about Michigan? They didn't do it by an act of the legislature, did they?

Document Size:	4606
Author:	Doug Henwood
Date:	Wed Dec 12 05:58:42 PST 2007

12130 [lbo-talk] future generations -- rank: 1000

On Dec 12, 2007, at 3:31 AM, joanna wrote: > That's what I keep saying: the prisons are important, even key, to a > left platform. How about my home state, New Joisey, about to repeal capital punishment? First state ever. I wonder if it will spawn imitators. Doug

Document Size:	4744
Author:	Doug Henwood
Date:	Wed Dec 12 04:41:17 PST 2007

12131 [lbo-talk] the Fed & Wall Street -- rank: 1000

On Dec 11, 2007, at 8:44 PM, Bob Morris wrote: > I also think they are seriously worried about what's coming. If they are, they're disguising it well.

Document Size:	4682
Author:	Doug Henwood
Date:	Tue Dec 11 18:05:18 PST 2007

12132 [lbo-talk] the Fed & Wall Street -- rank: 1000

Wall Street was very disappointed this afternoon by the small size of the Fed's interest rate cut - just a quarter-point - and the tone of the statement. (The Oct 31 and Dec 11 ones are pasted below for comparison.) Many were hoping for a bigger cut, and most were hoping for a statement that indicated a strong bias towards further easing in the coming months. That was not forthcoming. There were loads of complaints about how Bernanke is deaf, dumb (in both senses), and blind - an academic ...

Document Size:	6038
Author:	Doug Henwood
Date:	Tue Dec 11 15:40:55 PST 2007

12133 [lbo-talk] Joss Whedon, union militant -- rank: 1000

On Dec 11, 2007, at 5:31 PM, Jerry Monaco wrote: > Doug, I am a bit biased here because I am good friends since high > school and college with people deeply involved in this strike. This is a profitable bias! Very interesting report. I hope the braindead in other unions read & learn. Doug

Document Size:	4867
Author:	Doug Henwood
Date:	Tue Dec 11 14:50:04 PST 2007

12134 [lbo-talk] BBC's Sub-Prime Top Ten -- rank: 1000

On Dec 11, 2007, at 2:43 PM, Charles Brown wrote: > Can I ask a question on "sub-prime" ? Aren't the interest rates on > such > loans higher than the prime rate ? Aren't they super-prime interest > rate > loans Prime refers to the borrower, not the rate. Prime = extremely creditworthy. Subprime = not so.

Document Size:	4895
Author:	Doug Henwood
Date:	Tue Dec 11 12:03:24 PST 2007

12135 [lbo-talk] Joss Whedon, union militant -- rank: 1000

On Dec 11, 2007, at 1:04 PM, Jerry Monaco wrote: > I think that the importance of this strike is underestimated by > traditional > leftists. According to the BLS, the strike affects about 4,000 workers. Insofar as "traditional leftists" think in the millions, 4k ain't bupkes. And, you know, they work with words, not things. Some of them make good money, and those that don't can always go to law school. And Hollywood is a debased place that fills our heads with false consc ...

Document Size:	5248
Author:	Doug Henwood
Date:	Tue Dec 11 10:53:41 PST 2007