<?xml version="1.0" encoding="utf-8"?>
<rss version="2.0">
    <channel>
        <title>Reality Window</title>
        <link>http://www.realitywindow.com/</link>
        <description></description>
        <language>en</language>
        <copyright>Copyright 2008</copyright>
        <lastBuildDate>Mon, 01 Dec 2008 14:39:22 -0400</lastBuildDate>
        <generator>http://www.sixapart.com/movabletype/</generator>
        <docs>http://www.rssboard.org/rss-specification</docs>
        
        <item>
            <title>Obama&apos;s National Security Team</title>
            <description><![CDATA[President-Elect Barack Obama introduced his National Security Team this morning; a team which includes Hillary Clinton as Secretary of State, Robert Gates as Secretary of Defense, Eric Holder as Attorney General, Janet Napolitano as Secretary of Homeland Security, Susan Rice as UN Ambassador and James Jones as National Security Adviser. 

If you're curious, as most Americans are, about Barack Obama and his approach to governing and to our national security and leadership, then the following video clips will be useful in satisfying your curiosity.  

What is unfortunate is that most Americans will not watch these clips.  Even reading the transcript will not replace hearing and seeing the emphasis that he placed on certain phrases.  Watching Obama and his team is a reassuring experience.  We've chosen someone with a serious approach to American security and leadership in the world and he's put together a team that has a clear understanding of the complexities involved in achieving that vision.  Those who don't have time to watch this will miss out the depth of conviction with which the Obama team is approaching their mission.
 
<div style="text-align: center;"><iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/27998385#27998385" frameborder="0" scrolling="no"></iframe></div><br><br><center><em>Transcript of prepared remarks below the fold.</em>  </center><br><br>After Obama spoke, members of his National Security team each spoke briefly starting with Hillary Clinton.<br><br>
<div style="text-align: center;"><iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/27998755#27998755" frameborder="0" scrolling="no"></iframe></div><br><br>

The press Q&A section of today's press conference introducing Obama's nation security team runs about 16 min. in this clip and is followed by roughly 14 min. of commentary by various MSNBC people. 
 
<div style="text-align: center;"><iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/27998956#27998956" frameborder="0" scrolling="no"></iframe></div><br><br>

I thought this exchange was particularly significant.  It occurs from 2:16 to 5:42 in the Q&A clip above. 
 
<blockquote><p>Question:  You've selected a number of high-profile people for your National Security team.  How can you ensure that the staff that you are assembling is going to be a smoothly functioning team of rivals and not a clash of rivals?  </p>

Answer:  I think you hear Joe mention the fact that many of the people standing here beside me are people who have worked together before, who have the utmost respect for each other.  These are outstanding public servants and outstanding in their various fields of endeavor.  They would not have agreed to join my administration and I would not have asked them to be part of this administration unless we shared a core vision of what's needed to keep the American people safe and to assure prosperity here at home and peace abroad.  

I think all of us here share the belief that we have to maintain the strongest military on the planet, that we have to support our troops, make sure that they are properly trained, properly equipped, that they are provided with a mission that allows them to succeed. All of us here also agree that the strength of our military has to be combined with the wisdom and force of our diplomacy and that we are going to be committed to building and strengthening alliances around the world to advance American interests and American security.  And so in discussions with this entire team, what I am excited about is a consensus not only among those of us standing here today but across a broad section of the American people that now is the time for us to regain American leadershp in all its dimensions and I am very confident that each of these individuals would not be leaving the outstanding work that they're currently doing if they weren't convinced that they can work as an effective team.  

One last point I will make.  I assembled this team because I'm a strong believer in strong personalities and strong opinions.  I think that's how that's how the best decisions are made.  One of the dangers in a White House, based on my reading of history, is that you get wrapped up in groupthink and everybody agrees with everything and there's no discussion, there are no dissenting views.  So I'm going to be welcoming a vigorous debate inside the White House but understand, I will be setting policy as President.  I will be responsible for the vision that this team carries out and I expect them to implement that vision once decisions are made. So as Harry Truman said, the buck will stop with me.  And nobody who's standing here would have agreed to join this administration unless they had confidence that, in fact, that vision was one that would help secure the American people and our interests.  </blockquote>

There are more significant moments, particularly his comment on maintaining "the strongest military on the planet".  Add to his comments, those of his new team and they leave us with the impression of a strong, confident, unified team ready to go on Jan. 20th. 

Obama's comfort in the press conference environment, responding with complex, intelligent answers off the cuff is a very pleasant change.  There's no cringe-worthy moments.  Also worthy of note just as a small reflection on growth of opportunity for all Americans, there were only three white males on the stage out of a group of eight people.  Out of the nominees, only two of six. But the real point wasn't their diversity.  The real point is that each of those people was there on merit, because of the strength of their experience and accomplishments.  It was impressive to see.  
]]></description>
            <link>http://www.realitywindow.com/archives/2008/12/obamas-national-security-team.html</link>
            <guid>http://www.realitywindow.com/archives/2008/12/obamas-national-security-team.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">Geopolitics, Diplomacy &amp; War</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Barack Obama</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">MSNBC</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">national security</category>
            
            <pubDate>Mon, 01 Dec 2008 14:39:22 -0400</pubDate>
        </item>
        
        <item>
            <title>The War Against Women</title>
            <description><![CDATA[Nicholas Kristof has highlighted the acid-attack war against Pakistani women .  It's a war stretching from <a href="http://en.wikipedia.org/wiki/Acid_attack">Afghanistan through Cambodia</a> that is prosecuted by husbands, rejected suitors and even their own brothers and fathers.  The <a href="http://video.nytimes.com/video/2008/11/29/opinion/1194834033797/acid-attacks.html?partner=permalink&exprod=permalink">video clip</a> that he narrates vividly illustrates this war which is not generally acknowledged or covered in the western press. Kristof notes that there have been more than 7800 acid-burnings of women in the Islamabad area since 1994.  

And just this last month in Afghanistan, "men on motorcycles threw acid on a group of girls who dared to attend school. One of the girls, a 17-year-old named Shamsia, told reporters from her hospital bed: "I will go to my school even if they kill me. My message for the enemies is that if they do this 100 times, I am still going to continue my studies.""  There's <a href="http://www.cnn.com/2008/WORLD/asiapcf/11/12/afghanistan.acid.attack/#cnnSTCVideo">more video</a> on that attack from CNN. 

Watch the <a href="http://video.nytimes.com/video/2008/11/29/opinion/1194834033797/acid-attacks.html?partner=permalink&exprod=permalink">video</a>, read <a href="http://www.nytimes.com/2008/11/30/opinion/30kristof.html?_r=1&ref=opinion">Kristof's article</a> and consider what you might do for the <a href="http://www.pwaisbd.org">Progressive Women's Association</a> (<a href="http://www.pwaisbd.org" target="_">www.pwaisbd.org</a>) or <a href="http://www.womenforafghanwomen.org/">Women for Afghan Women</a> group.]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/the-war-against-women.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/the-war-against-women.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">Geopolitics, Diplomacy &amp; War</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">acid attacks</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">CNN</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">New York Times</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Nicholas Kristof</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Pakistan</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">women&apos;s rights</category>
            
            <pubDate>Sun, 30 Nov 2008 15:23:40 -0400</pubDate>
        </item>
        
        <item>
            <title>Reviewing America&apos;s Defense Meltdown</title>
            <description><![CDATA[This is the chart that caught my attention:

 
<span class="mt-enclosure mt-enclosure-image" style="display: inline;"><img alt="defense_2.png" src="http://www.realitywindow.com/images/defense_2.png" width="500" height="291" class="mt-image-center" style="text-align: center; display: block; margin: 0 auto 20px;" /></span>

It's from a <a href="http://jamesfallows.theatlantic.com/archives/2008/11/a_little_thanksgiving_holiday.php">reading recommendation</a> made by James Fallows via <a href="http://andrewsullivan.theatlantic.com/the_daily_dish/2008/11/defense-nerds-o.html">Sully</a>:

<blockquote>Seriously, anybody who presumes to hold an opinion on America's defense needs, defense spending, and long term military strategy really has to read "America's Defense Meltdown," available in free 2MB pdf download <a href="http://www.cdi.org/program/document.cfm?DocumentID=4404&amp;from_page=../index.cfm">here</a>.</blockquote>

From a prior review that Fallows did:

<blockquote><p>This is a guide on how to think about, pay for, reconfigure, equip, deploy, withdraw, modernize, simplify, support, strengthen, lead, motivate, inspire, and in all other ways improve America's military establishment. [...] </p>

What is most remarkable about the book is the array of authors who have joined to produce this anthologized volume. If I started listing a few, I would have to name them all (PDF of full list <a href="http://www.d-n-i.net/dni/wp-content/uploads/2008/10/america_defense_meltdown_exec_summ2.pdf">here</a>.) They include the closest colleagues and collaborators of the late Air Force colonel <a href="http://en.wikipedia.org/wiki/John_Boyd_%28military_strategist%29">John Boyd</a> plus leading defense analysts and practitioners of the next generation. They have amply earned the right to be listened to. What I said in a blurb on the book's jacket* is, if anything, not enthusiastic enough:

<blockquote>The talent, judgment, and insight collected in this book are phenomenal. Over the last generation, the authors have been more right, more often, about more issues of crucial importance to American security than any other group I can think of. It is a tremendous benefit to have their views collected in one place and concentrated on the next big choices facing a new Administration. &nbsp;This really is a book that every serious-minded citizen should read. </blockquote></blockquote>

Per Fallows the hardcover will be available for purchase shortly but you can start reading it now via <a href="http://www.cdi.org/program/document.cfm?DocumentID=4404&from_page=../index.cfm">the PDF</a> that the <a href="http://www.cdi.org/program/document.cfm?DocumentID=4401">Center for Defense Information</a> has made available.

More food for thought from the preface of the book:

<blockquote><ul><li>America's defense budget is now larger in inflation adjusted dollars than at any point since the end of World War II, and yet our Army has fewer combat brigades than at any point in that period, our Navy has fewer combat ships and the Air Force has fewer combat aircraft. Our major equipment inventories for these major forces are older on average than at any point since 1946; in some cases they are at all-time historical highs in average age. </li>

<li>The effectiveness of America's "high-tech" weapons does not compensate for these reduced numbers. The Air Force's newest fighter, the F-35, can be regarded as only a technical failure. The Navy's newest destroyer cannot protect itself effectively against aircraft and missiles, and the Army's newest armored vehicle cannot stand up against a simple anti-armor rocket that was first designed in the 1940s. </li>

<li>Despite decades of acquisition reform from Washington's best minds in Congress, the Pentagon and the think tanks, cost overruns in weapon systems are higher today, in inflation adjusted dollars, than any time ever before. Not a single major weapon system has been delivered on time, on cost and as promised for performance. The Pentagon refuses to tell Congress and the public exactly how it spends the hundreds of billions of dollars appropriated to it each year. The reason for this is simple; it doesn't know how the money is spent. Technically, it doesn't even know if the money is spent. Even President George W. Bush's own Office of Management and Budget has labeled the Pentagon as one of the worst managed agencies of the entire federal government.</li></ul></blockquote>

There's more.  Go read it <a href="http://www.cdi.org/pdfs/AmericasDefenseMeltdownFullText.pdf">here</a>.  
]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/how-the-pentagon-bankrupts-ame.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/how-the-pentagon-bankrupts-ame.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">Geopolitics, Diplomacy &amp; War</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Center for Defense Information</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">defense</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">James Fallows</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Pentagon</category>
            
            <pubDate>Sun, 30 Nov 2008 08:27:42 -0400</pubDate>
        </item>
        
        <item>
            <title>Obama&apos;s Economic Team  - Thanksgiving Week Summary</title>
            <description><![CDATA[Obama announced a special economic recovery advisory board which will be chaired by Paul Volcker (<a href="http://topics.nytimes.com/top/reference/timestopics/people/v/paul_a_volcker/index.html">NYT bio</a>).  It will meet for 2 years and its renewal for another term considered at the 2 year point.  Austan Goolsbee (<a href="http://www.nytimes.com/2008/11/12/us/politics/11web-goolsbee.html">NYT bio</a>) will serve as the staff director as well as one of Obama's 3 economic advisors on the Council of Economic Advisors. <a href="http://blogs.suntimes.com/sweet/2008/11/presidentelect_obama_fourth_pr.html">Per Obama</a>, 

<blockquote>This board is modeled on the President's Foreign Intelligence Advisory Board created by President Eisenhower to provide rigorous analysis and vigorous oversight to our intelligence community by individuals outside of government -- individuals who would be candid and unsparing in their assessment. This new board will perform a similar function for my administration as we formulate our economic policy.</blockquote>

<div style="text-align: center;"><script src="http://i.cdn.turner.com/cnn/.element/js/2.0/video/evp/module.js?loc=dom&vid=/video/politics/2008/11/26/sot.obama.advisory.entire.cnn" type="text/javascript"></script><noscript>Embedded video from <a href="http://www.cnn.com/video">CNN Video</a></noscript></div><br><br>

So what's the difference between the National Economic Council which is the group that Larry Summers (<a href="http://www.nytimes.com/2008/11/07/us/politics/07summers.html">NYT bio</a>) will head up and the President's Council of Economic Advisers which UC-Berkeley professor Christina Romer (<a href="http://www.nytimes.com/2008/11/25/us/politics/25web-romer.html">NYT bio</a>) will head?

Per <a href="http://www.npr.org/templates/story/story.php?storyId=97418915">this NPR report</a> the Council of Economic Advisors was created by legislative decree in 1946 and it's a small group of experts who advise the president on economic policy -- a small White House think tank.  The National Economic Council was created by executive order shortly after Clinton took office and its purpose is to bring together agency and department heads to coordinate economic policy, somewhat like the National Security Council.  

On Tuesday, Obama introduced his picks to head up the Office of Management and Budget.  Peter Orszag (<a href="http://www.nytimes.com/2008/11/19/us/politics/18web-orszag.html">NYT bio</a>) will be director of OMB and Robert Nabors, the deputy director of OMB.  [<a href="http://blogs.suntimes.com/sweet/2008/11/presidentelect_obama_third_pre.html">transcript</a>]

<div style="text-align: center;"><script src="http://i.cdn.turner.com/cnn/.element/js/2.0/video/evp/module.js?loc=dom&vid=/video/politics/2008/11/25/obama.budget.team.cnn" type="text/javascript"></script><noscript>Embedded video from <a href="http://www.cnn.com/video">CNN Video</a></noscript></div><br><br>

Obama <a href="http://blogs.suntimes.com/sweet/2008/11/presidentelect_obama_third_pre.html">made it clear</a> that their commission is to review the budget line-by-line and come up with a smarter budget with programs that address today's needs.

<blockquote><p>This isn't about big government or small government. It's about building a smarter government that focuses on what works. And that's why I will ask my team to think anew and act anew to meet our new challenges.</p></blockquote>

On Monday Obama introduced his economic team and it was a crowd of heavy hitters.  The video of his announcement and the press Q&A session that followed along with a transcript are <a href="http://www.realitywindow.com/archives/2008/11/obama-on-economic-challenges-a.html">here</a>. 

On stage with Obama was Tim Geithner (<a href="http://www.nytimes.com/2008/11/07/us/politics/07geithner.html">NYT bio</a>), his nominee for Treasury Secretary, Larry Summers (<a href="http://www.nytimes.com/2008/11/07/us/politics/07summers.html">NYT bio</a>) to head up the National Economic Council, Christine Romers (<a href="http://www.nytimes.com/2008/11/25/us/politics/25web-romer.html">NYT bio</a>) to lead the Council of Economic Advisors, and Melody Barnes (<a href="http://www.nytimes.com/2008/11/25/us/politics/25web-barnes.html?_r=1">NYT bio</a>) as director of the Domestic Policy Council.  During the week the Obama team also <a href="http://www.cnn.com/2008/POLITICS/11/24/transition.wrap/index.html">announced</a> Heather Higginbottom as deputy director of the Domestic Policy Council.  I had a little bit of contact with Heather when I worked on the Kerry website in 2006-2007 and she was Sen. Kerry's Legislative Director.  

Comments from President-Elect Obama during his <a href="http://blogs.suntimes.com/sweet/2008/11/presidentelect_obama_fourth_pr.html">third press conference</a> highlighted how he's approaching the formation of his team and the chatter about the Clinton administration alums present in in his selections.  

<blockquote><p>I suspect that you would be troubled and the American people would be troubled if I selected a Treasury secretary or a chairman of the National Economic Council at one of the most critical economic times in our history who had no experience in government whatsoever.</p>

What we are going to do is combine experience with fresh thinking. But understand where the -- the vision for change comes from first and foremost. It comes from me. That's my job, is to provide a vision in terms of where we are going and to make sure, then, that my team is implementing it.</blockquote>

Obama's management of the 3 days before Thanksgiving and retail's traditional "Black Friday" sales events was reassuring.  The amount of work that's already occurred which allowed him to stand up and assure the American people that his administration "hit the ground running."  From <a href="http://blogs.suntimes.com/sweet/2008/11/presidentelect_obama_third_pre.html">Tuesday's press conference</a>:

<blockquote>Given the extraordinary circumstances that we find ourselves in, however, I think it is very important for the American people to understand that we are putting together a first-class team and for them to have clarity that we don't intend to stumble into the next administration. We are going to hit the ground running. We're going to have clear plans of action. We intend to have the kind of economic recovery plan that is going to put 2.5 million people into jobs. We are going to make sure that we start focusing on energy, on health care, on revamping our education system so that it's competitive in the 21st century, and as I'm talking about today, that we are not going to back to business as usual when it comes to our budget. </blockquote>

When the 3 press conferences and the Q&A sessions are taken as a whole, they reveal a well-thought out plan for addressing the leadership issue during a most unusual time of transition.  It's reassuring to see though there's still much turbulence to be navigated.  And I know I'm in good company when <a href="http://krugman.blogs.nytimes.com/2008/11/22/the-grownups-are-coming/">Paul Krugman</a> is pleased that "the grownups are coming" and Nouriel Roubini <a href="http://www.newsweek.com/id/170712">says</a>, "The choices are excellent."]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/obamas-economic-team.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/obamas-economic-team.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">It&apos;s the Economy, Stupid</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Council of Economic Advisors</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Economic Recovery Advisory Board</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">economy</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">National Economic Council</category>
            
            <pubDate>Fri, 28 Nov 2008 10:27:54 -0400</pubDate>
        </item>
        
        <item>
            <title>Happy Thanksgiving</title>
            <description><![CDATA[<span class="mt-enclosure mt-enclosure-image" style="display: inline;"><img alt="thanksgiving1.jpg" src="http://www.realitywindow.com/images/thanksgiving1.jpg" width="450" height="295" class="mt-image-center" style="text-align: center; display: block; margin: 0 auto 20px;" /></span>

We baked the pumpkins on Tuesday and scooped them out.  And then we made the pies from scratch yesterday:  two pumpkin and one cherry. We toasted the pumpkin seeds too and made the cranberry sauce.  Got up this morning and made the stuffing for the turkey and heaved it into the oven a little while ago.  Later we'll make the mashed potatoes and the acorn squash and the corn and the brussel sprouts and of course, the gravy about which we'll have the family debate on whether it's better with mushrooms or without.  We've discussed the paucity of "good" football games to watch.  So while we wait for Thanksgiving dinner to appear, some of us are going for a hike in the park after my husband has cleared the last of the leaves that dared trespass on his arduously cleared lawn (last weekend's chore).  We'll miss the family members that aren't here today but we're thankful that everyone is healthy and happy and safe where they are.  
  
There's much to be thankful for this year.  And chief among them, is the election of a president who is approaching this time of crisis with the intelligence, forethought and vision that's been missing for so long. 

Happy Thanksgiving to you and yours, wherever you are, with whatever friends, family and strangers who become friends with whom you share this special day.
  
<span class="mt-enclosure mt-enclosure-image" style="display: inline;"><img alt="thanksgiving2.jpg" src="http://www.realitywindow.com/images/thanksgiving2.jpg" width="450" height="43" class="mt-image-center" style="text-align: center; display: block; margin: 0 auto 20px;" /></span>]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/happy-thanksgiving.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/happy-thanksgiving.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">First Person Perspective</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Thanksgiving</category>
            
            <pubDate>Thu, 27 Nov 2008 10:50:37 -0400</pubDate>
        </item>
        
        <item>
            <title>Items of Interest</title>
            <description><![CDATA[<strong>~</strong> Check out this <a href="http://www.ritholtz.com/blog/2008/11/visual-guide-to-the-financial-crisis/">Visual Guide to the Financial Crisis</a>.  Per Barry Ritholz, it's missing a few causation items but it's well-done graphically.  What were they thinking?

<strong>~</strong> Want to see what the "common wisdom" on the election will look like?  Go read Elizabeth Drew's article in the New York Review of Books, "<a href="http://www.nybooks.com/articles/22170">The Truth About the Election</a>".  It's readable.  It's fairly thorough.  But I couldn't help feeling as I read it, that it was just too trite at some points.  If I had more time to pull it apart, I'd highlight them but I'm not sure that it's worth the expenditure of time.  In any case, it is an interesting read and no doubt, we'll see this view propagated in the traditional media.

<strong>~</strong> Check out Ben Smith's <a href="http://www.politico.com/blogs/bensmith/1108/Orszag_signs_off.html?showall">capture</a> of Peter Orszag's <a href="http://cboblog.cbo.gov/?p=187">farewell post</a> at the CBO blog.  He also highlights <a href="http://cboblog.cbo.gov/?p=180">Orszag's posts on health care</a> at the CBO blog as worthy reading. 

<strong>~</strong> If <a href="http://www.talkingpointsmemo.com/news/2008/11/karzai_says_us_nato_created_pa.php">this statement</a> by Hamid Karzai is any indication, Afghanistan will be an even stickier mess to sort out.  Not that we aren't all cognizant of its reputation as a generally ungovernable region of clans in competition, but having the leader of the democratic government we've supported, railing against the US and NATO doesn't bode well for future success. 

<strong>~</strong> Josh <a href="http://www.talkingpointsmemo.com/archives/245905.php">pointed out</a> the <a href="http://www.boston.com/bigpicture/2008/11/the_next_president_of_the_unit.html">Boston Globe picture book</a> of the Obama campaign as the best of the bunch he's seen.  It's good though I still like <a href="http://digitaljournalist.org/issue0810/callie-bp.html">Callie Shell's amazing photo-journal of the entire Obama campaign</a> the best.  Just remember to keep clicking on "Show more images" at the bottom of whatever pictures you're looking at and keep scrolling down. 

<strong>~</strong> Another Obama story.  A dkos poster from Indonesia <a href="http://www.dailykos.com/story/2008/11/26/11856/742/504/666658">reports</a> on the conversation that Obama had with the Indonesian president Susilo Bambang Yudhoyono and how the Indonesian president <a href="http://www.thejakartapost.com/news/2008/11/26/obama-missing-039rambutan-bakso-and-nasi-goreng039.html">reported it</a> to the reporters around him.  

<blockquote><p>When the presidential flight touched down at Nagoya airport in Japan on Tuesday, Yudhoyono made a statement to reporters over the airplane's intercom.</p>

"He addressed me with, 'Apa Kabar Bapak President?' (How are you Mr. President?), with his fluent Indonesian language," Yudhoyono said.

Obama was missing several local delicacies such as nasi goreng (fried rice), rambutan and bakso (meatball soup), he added. 

Yudhoyono had congratulated Obama's election as U.S. president and suggested he visit Indonesia after attending the Asia Pacific Economic Cooperation meeting in Singapore next year. </blockquote>

The dkos poster Ajipon sums it up talking about how exciting it will be when Obama does visit Indonesia and how many thousands of people will turn out to cheer for him.  It is interesting to reflect on our new President being at least somewhat conversant in the language of the country with the largest Muslim population in the world and anticipating how they will welcome him.  What a welcome change.
]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/items-of-interest-6.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/items-of-interest-6.html</guid>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Items of Interest</category>
            
            <pubDate>Wed, 26 Nov 2008 13:36:22 -0400</pubDate>
        </item>
        
        <item>
            <title>Volcker Tapped for Advisory Role</title>
            <description><![CDATA[Headlining President-Elect Obama's third consecutive day of economic team rollout is Paul Volcker.  Per <a href="http://online.wsj.com/article/SB122767048323359165.html">the WSJ</a>:

<blockquote><p>President-elect Barack Obama will appoint former Federal Reserve Chairman Paul Volcker on Wednesday to be the chairman of a new White House advisory board tasked with helping to lift the nation from recession and stabilize financial markets, Democratic officials say. [...] </p>

The board's mission won't be to supplant the policy-making role of the Treasury Department and other agencies, but to give Mr. Obama an official forum for getting expert advice outside the normal bureaucratic channels. It will give briefings to the president.

The panel, called the President's Economic Recovery Advisory Board, is modeled on the Foreign Intelligence Advisory Board established by then-President Dwight Eisenhower in 1956, at the height of the Cold War, when officials worried that that the existing bureaucratic structure was inadequate to help the U.S. keep pace with the Soviet threat. The financial crisis has drawn similar worries that the government isn't properly organized to monitor and respond to modern financial markets. [...]

The board's tasks will be broad: to help design and implement short-term programs to jump-start the economy, raise wages and living standards and confront the housing crisis. It will also address the delicate task of bolstering Washington's oversight of the financial markets in the wake of a Wall Street collapse that has taken down many of its most venerable institutions.</blockquote>

I'm glad to see that Obama is going reap the benefit of Mr. Volcker's knowledge and leadership.  This combined with the two prior economic team announcements puts out the notice that the Obama administration is organized and ready to go in a transition that is already remarkable in many ways.  [<a href="http://www.ritholtz.com/blog/2008/11/the-return-of-tall-paul/">via</a>]]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/volcker-tapped-for-advisory-ro.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/volcker-tapped-for-advisory-ro.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">It&apos;s the Economy, Stupid</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Barack Obama</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">economy</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Paul Volcker</category>
            
            <pubDate>Wed, 26 Nov 2008 11:19:31 -0400</pubDate>
        </item>
        
        <item>
            <title>Just how big is the bailout?</title>
            <description><![CDATA[Barry Ritholz has <a href="http://www.ritholtz.com/blog/2008/11/big-bailouts-bigger-bucks/">found a way</a> to bring a little reality to just how big the bailout may be.  He notes that the current total cost, including the Citi bailout, "now exceeds $4.6165 trillion dollars". 

<blockquote><p>People have a hard time conceptualizing very large numbers, so let's give this some context. The current Credit Crisis bailout is now the largest outlay In American history.  Jim Bianco of Bianco Research crunched the inflation adjusted numbers. The bailout has cost more than all of these big budget government expenditures - combined:</p>
<p>• <strong>Marshall Plan</strong>: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion<br>
• <strong>Louisiana Purchase</strong>: Cost: $15 million, Inflation Adjusted Cost: $217 billion<br>
• <strong>Race to the Moon</strong>: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion<br>
• <strong>S&amp;L Crisis</strong>: Cost: $153 billion, Inflation Adjusted Cost: $256 billion<br>
• <strong>Korean War</strong>: Cost: $54 billion, Inflation Adjusted Cost: $454 billion<br>
• <strong>The New Deal</strong>: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)<br>
• <strong>Invasion of Iraq</strong>: Cost: $551b, Inflation Adjusted Cost: $597 billion<br>
• <strong>Vietnam War</strong>: Cost: $111 billion, Inflation Adjusted Cost: $698 billion<br>
• <strong>NASA</strong>: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion</p>
<p><em>TOTAL</em>: $3.92 trillion</p>

</blockquote>

Just look at all the items added up and know that their sum is less than the current fiasco.  That's a big number. [<a href="http://www.politico.com/blogs/bensmith/1108/How_big.html?showall">via</a>]

Here's another way to look at what's in the bailout, courtesy of the New York Times.


<span class="mt-enclosure mt-enclosure-image" style="display: inline;"><a href="http://www.nytimes.com/imagepages/2008/11/26/business/20081126_FED_graph1.html" target="blank"><img src="http://www.realitywindow.com/images/NYT-bailout-chart-thumb-540x393.gif" width="520" height="383" alt="NYT-bailout-chart.gif" class="mt-image-center" style="text-align: center; display: block; margin: 10px auto 20px;" /></a></span>
 
<em>Click on image for larger graphic.</em>

]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/just-how-big-is-the-bailout.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/just-how-big-is-the-bailout.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">It&apos;s the Economy, Stupid</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">bailout</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Barry Ritholz</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">economy</category>
            
            <pubDate>Wed, 26 Nov 2008 11:08:13 -0400</pubDate>
        </item>
        
        <item>
            <title>Items of Interest</title>
            <description><![CDATA[<strong>--</strong> Charles Homans at the Washington Monthly has <a href="http://www.washingtonmonthly.com/features/2008/0811.homans.html">an excellent post</a> up on the extent of secret record-keeping within the Bush-Cheney administration and how much information has potentially been excluded by Bush's executive orders.  The whole thing is worth reading to understand the impact of this point:

<blockquote>Cheney's papers are the Amazon rain forest of Bush administration records: they are of immense importance to the big picture, and there is a real risk that they will be lost before we know exactly what's in there.</blockquote>

TPMCafe is hosting a <a href="http://tpmcafe.talkingpointsmemo.com/special-features/">Special Features</a> discussion this week on Homan's Washington Monthly article.  Josh Marshall <a href="http://www.talkingpointsmemo.com/archives/245690.php">notes</a> who's been invited to the discussion:  

<blockquote>Scott Horton, New York attorney specializing in human rights law and the law of armed conflict, and regular contributor to Harper's; Suzanne Spaulding, lawyer specializing in national security issues, including homeland security, intelligence, and terrorism; Daniel Larison, Ph.D student at the University of Chicago and host of the blog, Eunomia; Mickey Edwards, former congressman (R-OK), lecturer at Princeton's Woodrow Wilson school, and Vice President of the Aspen Institute; Anne Weismann, Chief Counsel at Citizens for Responsibility and Ethics in Washington; and finally, Kate Martin, director of the Center for National Security Studies.</blockquote>

Here's Homan's <a href="http://tpmcafe.talkingpointsmemo.com/2008/11/24/in_the_spirit_of_the/">first post</a>, followed <a href="http://tpmcafe.talkingpointsmemo.com/2008/11/24/getting_to_the_truth/">one by Daniel Larison</a> of Eunomia. 

-- Jon Chait wrote an interesting piece in January 2007 about the US economy titled "<a href="http://www.tnr.com/story_print.html?id=880f4273-e2d6-4914-b15b-ffcce401155a">Feast of the Wingnuts - How economic crackpots devoured American politics.</a>".  Another one of those people who should have been featured more prominently in our media.  We were warned but we weren't listening. 

<strong>-- </strong>Unitary Moonbat has done another one of his terrific <a href="http://www.dailykos.com/tag/History%20for%20Kossacks">History for Kossacks</a> posts and this time it's on Kenya.  If you've not read one before, check out <a href="http://www.dailykos.com/story/2008/11/23/212220/33">this highly readable nugget</a> on the history, economy and politics of Kenya.  If you're a history aficionado, check out the <a href="http://www.progressivehistorians.com/">Progressive Historians blog</a> where he posts along with other amateur (and some professional) historians.

<strong>--</strong>Via <a href="http://andrewsullivan.theatlantic.com/the_daily_dish/2008/11/the-man-who-saw.html">Sully</a>, more from The Man Who Got It Right, Peter Schiff.  His outlook still isn't cheery.  

<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/pGHODRNJqRo&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/pGHODRNJqRo&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object></div><br><br>
<strong>--</strong> For those interested in the designer of the Obama campaign signature logo, there's two articles about him and his now-famous design in the <a href="http://www.philly.com/philly/hp/news_update/34862744.html">Philadelphia Daily News</a> and the <a href="http://campaignstops.blogs.nytimes.com/2008/11/20/the-o-in-obama/?ref=opinion">New York Times</a>. ]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/items-of-interest-5.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/items-of-interest-5.html</guid>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Items of Interest</category>
            
            <pubDate>Mon, 24 Nov 2008 17:21:57 -0400</pubDate>
        </item>
        
        <item>
            <title>Obama on Economic Challenges and his Team</title>
            <description><![CDATA[President-Elect Obama introduced his economic team at noon today in Chicago and then took questions from the press.  The first clip is his statement on the economic plans that they are developing for the nation.  The second clip is the press Q&A portion.  <a href="http://www.politico.com/blogs/bensmith/1108/The_economic_team.html">Staff bios and transcript</a> of Obama's comments courtesy of Ben Smith.

<div style="text-align: center;"><iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/27891658#27891658" frameborder="0" scrolling="no"></iframe><br><br>

<iframe height="339" width="425" src="http://www.msnbc.msn.com/id/22425001/vp/27891824#27891824" frameborder="0" scrolling="no"></iframe></div><br><br>

And if you haven't seen it yet, here's President-Elect Obama's 11-22 Saturday address which also addresses the economic crisis:

<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/m17pz0R_qZo&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/m17pz0R_qZo&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div>]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/obama-on-economic-challenges-a.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/obama-on-economic-challenges-a.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">It&apos;s the Economy, Stupid</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Barack Obama</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">economy</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">MSNBC</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Presidential weekly address</category>
            
            <pubDate>Mon, 24 Nov 2008 15:35:35 -0400</pubDate>
        </item>
        
        <item>
            <title>Defeating the PR of Hate</title>
            <description><![CDATA[The editor and publisher of the Moroccan newsweekly magazines TelQuel and Nichane, Ahmed Benchemsi, has <a href="http://www.newsweek.com/id/170054">an interesting post</a> in Newsweek about Obama and al Zawahri's video message last week.  He makes three very good points.  First:

<blockquote><p>The video message from Al Qaeda's No. 2, Ayman al-Zawahiri, in which he called Barack Obama a "house Negro," demonstrates, if anything, that the terrorists are always damn good in PR. You feel disgusted? Horrified? That's exactly their aim. In this regard, Zawahiri's diabolical comparison of Obama and Malcolm X ("an honorable American who converted to Islam," as Zawahiri put it) is an even bolder move: not only do they insult the American president-elect, but they rub it into one of America's deepest wounds--the racial divisions and the profound antagonisms generated by Malcolm X's radical claims. In terms of "hatred arts," this is just brilliant. <strong>Those who are shocked by Zawahiri's words have merely to remember: spreading hate is the terrorists' job. Hating you is not enough; they also need you to hate them, so the struggle goes on unchallenged.</strong></p>

Al Qaeda and all its followers badly need to perpetuate Samuel Huntington's "clash of civilizations" paradigm. The West and Islam are deadly enemies, in the radicals' view. The more irreconcilable the former, the happier the latter. In this regard, the agenda of Bush and the neocons was a true blessing for the terrorists.
</blockquote>

His second point:

<blockquote>Al Qaeda's true problem with Obama has indeed nothing to do with the color of his skin. By proposing to meet Iran's Ahmadinejad without preconditions instead of just bombing him out, <strong>the American president-elect thinks outside of the confrontation box. The radicals just hate that.</strong> And above all, they hate the idea of the United States resuming the chase of Al Qaeda operatives in the mountains of the Pakistan-Afghanistan borders. He's coming to them, how could they not react fiercely?</blockquote>

And his third point which underscores Obama's transformational impact on the perception of America by non-citizens, and in particular, moderate Muslims in other countries of the world.

<blockquote><p>There is something else, which I witness everyday in the streets of Casablanca, where I live: Muslims tend to claim Obama as their own--because he's black, because he comes from an oppressed minority, because his middle name is Hussein. ... Not that they think Obama is a Muslim himself--he made clear that he was not. Yet he could have been. His father was. Anyway, this man looks like a "brother" to many Muslims, which is indeed a good thing for the prospect of global peace.</p>

Not surprisingly, Zawahiri's video message targeted this specific point: "Obama is not a Muslim, he's a renegade who abandoned his ancestor's religion to embrace the 'crusaders faith' and the 'Zionists' ideology'," Zawahiri suggests. <em>The genuine message being: please don't like him!</em>

Well, too bad for them: we do. We will like him more, of course, if he keeps his promise of backing out of Iraq within 16 months and putting the Israeli-Palestinian peace process back on track. Meanwhile, let's all of us, Muslims and Westerners, take advantage of the honeymoon period. And let's enjoy the terrorists' embarrassment: it's a rare occasion. </blockquote>

It's good to see a presumably moderate Muslim speaking out on the hate-mongering of al Qaeda and pointing out how Obama's approach undercuts it.  We need more like him.  ]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/defeating-the-pr-of-hate.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/defeating-the-pr-of-hate.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">Geopolitics, Diplomacy &amp; War</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Ahmed Benchemsi</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">al Qaeda</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Barack Obama</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Newsweek</category>
            
            <pubDate>Mon, 24 Nov 2008 10:12:12 -0400</pubDate>
        </item>
        
        <item>
            <title>Items of Interest</title>
            <description><![CDATA[-- A <a href="http://www.marketwatch.com/news/story/derivatives-new-ticking-time-bomb/story.aspx?guid={B9E54A5D-4796-4D0D-AC9E-D9124B59D436}">MarketWatch post</a> by Paul Farrell from March 2008 details the dangers of the derivatives market including a warning from Warren Buffett from 2002:

<blockquote>"In our view, ...derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.</blockquote>

Both Buffett's 2002 warning and the March 2008 timestamp on <a href="http://www.marketwatch.com/news/story/derivatives-new-ticking-time-bomb/story.aspx?guid={B9E54A5D-4796-4D0D-AC9E-D9124B59D436}">the MarketWatch article</a> highlight that there were people who saw this debacle coming.  The last segment of Farrell's article tagged "<em>World's newest and biggest 'black market'</em>" is exceedingly clear in identifying what we've just seen unfold in September and October.   The question is why weren't the financial and economic powers-that-be alert to this danger and taking steps to prevent it?  Is greed the only answer?  Stupidity?  [<a href="http://www.dailykos.com/comments/2008/11/21/232521/35/224#c224">via</a>]

-- The Economist <a href="http://www.economist.com/world/unitedstates/displaystory.cfm?story_id=12599247">comments</a> on the Republican party's re-invention as "the stupid party".  It's a pretty harsh assessment, though not undeserved.  

-- Nate Silver has <a href="http://www.fivethirtyeight.com/2008/11/did-talk-radio-kill-conservatism.html">an interesting thought piece</a> on conservatives, the Republican party and how right-wing talk radio has contributed to their inability to persuade.

-- Occams Hatchet has posted a pictorial tribute to the Bush presidency titled "<a href="http://www.dailykos.com/story/2008/11/21/191657/65/267/627232">The New Ozymandias</a>"

-- Via dkos, here's another cause worthy of support and at a minimum, an opportunity for insular Americans (and other world citizens) to educate themselves on how different life is for some people in our world.  The post is titled "<a href="http://www.dailykos.com/story/2008/11/22/10244/407/38/665082">We Are All Pakistani Women Now.</a>"  


--  Via <a href="http://ta-nehisicoates.theatlantic.com/archives/2008/11/so_awesome.php">Ta-Nehisi</a>, a <a href="http://venice-diaries.livejournal.com/16382.html">celebration</a> of our first geek president.  Some samples of their wisdom:

<blockquote><p>Obama does not believe in interfandom fighting. Kirk versus Picard? Joel versus Mike (or the modern version, Cinematic Titanic versus Rifftrax)? He is above that. He wants to bring fandoms together, not tear them apart with fearmongering and wank.</p>

Obama knows more Star Trek trivia than you ever will. He just doesn't see the need to talk about it and scare off the women.

Obama would spend his time with Michelle and the girls whenever he came home from the campaign. And then would stay up all night watching MST3K episodes when they went to sleep.

Obama does not buy into all this sparkly vampire bullshit. He does love Growing Up Cullen, though.</blockquote>

-- Ta-Nehisi <a href="http://ta-nehisicoates.theatlantic.com/archives/2008/11/lieberman_and_couric.php">gets it</a> exactly right on Lieberman:

<blockquote>It's also amazing how "ending the partisanship" is always code for "I am right" when Lieberman is speaking, like crossing party-lines is somehow, in and of itself, valuable. Lieberman is an opportunist <a href="http://www.newyorker.com/archive/2006/07/24/060724ta_talk_hertzberg">of the highest order</a>.&nbsp; I understand why they didn't take him down yesterday--it really isn't Obama's way. My man is focused on getting shit done--I really believe that--not meting out justice. But there is a time and place for meting out justice. 2012. Connecticut. </blockquote>

Count on it. 

-- James Fallows <a href="http://jamesfallows.theatlantic.com/archives/2008/11/how_it_should_be_done_terry_gr.php">praises</a> Terry Gross for an interview that she conducted with Bill Ayers.

<blockquote><p>But a broadcast I just heard was not only a reminder that she is, in fact, truly a great interviewer but also a demonstration of what that means in practice. [...]</p>

What she does instead, and what she shows brilliantly in this interview, is: she listens, and she thinks. In my experience, 99% of the difference between a good interviewer (or a good panel moderator) and a bad one lies in what that person is doing while the interviewee talks. If the interviewer is mainly using that time to move down to the next item on the question list, the result will be terrible. But if the interviewer is listening, then he or she is in position to pick up leads ("Now, that's an intriguing idea, tell us more about..."), to look for interesting tensions ("You used to say X, but now it sounds like..."), to sum up and give shape to what the subject has said ("It sounds as if you're suggesting..."). And, having paid the interviewee the respect of actually listening to the comments, the interviewer is also positioned to ask truly tough questions without having to bluster or insult.

If you have this standard in mind -- is the interviewer really listening? and thinking? -- you will be shocked to see how rarely broadcast and on-stage figures do very much of either. But listen to <a href="http://www.npr.org/templates/story/story.php?storyId=97112600">this session</a> by Gross to see how the thing should be done.</blockquote>

-- <a href="http://jamesfallows.theatlantic.com/archives/2008/11/a_fascinating_document_about_t.php">Also from</a> James Fallows who's currently living in China:

<blockquote><p>Outsiders who follow Chinese events have known for years about Roland Soong's <a href="http://www.zonaeuropa.com/weblog.htm">EastSouthWestNorth</a> site*, which draws from Chinese-language and English-language sources for reports and analysis.</p>

I've just seen <a href="http://www.zonaeuropa.com/20081116_1.htm">this post</a>, from a few days ago, which strikes me as something that people who don't normally follow Chinese events should know about. It's the text of a speech Soong prepared for last weekend's annual <a href="http://www.cnbloggercon.org/blog/cnbloggercon-40-itinerary-10/">Chinese Bloggers</a> conference (but did not deliver, for family-emergency reasons). In it, he discusses the differences the Internet has, and has not, made in the Chinese government's ability to control information and maintain power within China. </blockquote>]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/items-of-interest-4.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/items-of-interest-4.html</guid>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Items of Interest</category>
            
            <pubDate>Sat, 22 Nov 2008 12:06:57 -0400</pubDate>
        </item>
        
        <item>
            <title>Commenting on the Real Economy</title>
            <description><![CDATA[NBBooks wrote <a href="http://www.dailykos.com/comments/2008/11/21/232521/35/180#c180">this comment</a> in a recent dkos diary.  It deserves a little more attention than just that of a throw-away comment.  

<blockquote><p>I was covering and writing about deregulation and financial derivatives back when one of the very few Congressmen to oppose the deregulation of the savings and loans, <a href="http://en.wikipedia.org/wiki/Henry_B._Gonzalez">Texas Democrat Henry Gonzales</a> was chairman of the House Banking Committee (read <a href="http://www.creators.com/opinion/molly-ivins/molly-ivins-november-30-2000-11-30.html">Molly Ivins' November 2000 obituary of Gonzalez</a> here) and Richard Breeden was chairman of the SEC. Many of you probably know the general outline of the history of these issues the past 30 years. But in the late 80s to mid-90s, I was in some of the hearings where these ideas were debated in the Congress, in the SEC and CFTC and in some of the think tanks back in the late 1980s and early 1990s. I saw how Wall Street got its way over and over and over again.</p>

<p>For me, opposing Wall Street came down to one central idea - <em>it's the real economy that's important, and the banking and financial system should always be kept in a position of subservience to it</em>. It's the real economy that produces and distributes the food we eat, the clothes we wear, the houses we live in, the cars and buses and trains and planes we ride in. The real economy provides what people need to survive; by contrast, you can't eat a debenture or a bond. And in the 1980s, the real economy, as I saw it, was being sacrificed to and looted by the banking and financial system.</p>

<p>Does anyone remember "It doesn't matter whether we produce potato chips or computer chips" ? I was among the Cassandras that were shouted down when we tried to warn such foolishness would bankrupt our country. Yeah, too damn bad we had to wait twenty years to show you the proof.</p>

<p>The financial catastrophe that has occurred under George W. Bush is only the logical result of the "post industrial" policy trends of the past three decades, but some people still don't get it. I find it hard to believe there are people, so called "progessives," here - here of all places! - that are in favor of allowing the auto industry and at least one million working class jobs to disappear.</p>

<p><strong>N</strong>o one I have seen yet has challenged the estimates that a million jobs would be lost to begin with. Some estimates go as high as three million jobs lost. It will take years, and millions of lives lost to despair, hopelessness, misery, and the amplified affects of deteriorating mental and physical health, before we would climb out of this disaster.</p>

<p>Yet, many people appear anxious to pay this extravagant price. To punish auto's management for making bad decisions. To punish industrial workers for abandoning the Democrats and supporting Reagan and both Bushes. To punish organized labor for making more money than they do.</p>

<p>To punish mankind for having the arrogance to tame and harness nature so that ninety percent of kids no longer die before they're five years old.</p>

<p>What stupidity. What short-sighted, unthinking, vengeful moronbasity.</p>

<p>Well, people who have had their heads up their ass for the past twenty years, are about to have their asses handed to them. Too bad the innocent are going to get the same treatment.</p>

<p>I left my journalistic position in 1996, feeling very tired, belittled, jaded, cynical, and completely marginalized. &nbsp;Meanwhile Wall Street led the country on a tear of false prosperity that my fellow Americans can now see was nothing but debt, debt, debt, piled on more debt. This is my "I told you so," moment, but what effing good does it do?</p>

<p><strong>W</strong>hat I <em>can</em> do that <em>might</em> do some good is to tell you what I think is coming next. &nbsp;</p>

<p>The Obama administration will spend around 12 to 24 months try to find a solution to the new world depression within the confines of neo-liberal economic thought.</p>

<p>Meanwhile the suffering and misery is going to get worse, and worse, and worse. The Rethugs will be grinning from ear to ear.</p>

<p>I'm hoping the street organizer in Obama will come to the fore at that point, and we can begin to crack down on the financial markets and their addiction to hot money. In other words, saving the real economy is going to require destroying all the offshore tax havens and imposing a tax on financial transactions that chases out short-term speculation.</p>

<p>Basically, we are either going to force the financial system to eat the losses of its deflated bubbles, or the financial system is going to force <em>us</em> to cut wages, pensions, Social Security, national healthcare and the standard of living.</p>

<p>Most people, including Obama I fear, don't understand this yet. We are going to waste a year or two floundering about trying to avoid both massive economic pain and panicking the markets, before we finally figure out it is impossible to do both.</p>
</blockquote>

I hope that his conclusion about Obama's team is not true but his point about the auto-makers and the real economy is very important.  As he put it, there is a huge difference between potato chips and computer chips, and the loss of potentially 3 million jobs related to the auto industry is not an acceptable option.  Once people understand that, this should no longer be a discussion about the foolishness of auto-industry CEOs but a focus on rebuilding the real economy in the US.]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/commenting-on-the-real-economy.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/commenting-on-the-real-economy.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">It&apos;s the Economy, Stupid</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">auto industry</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Daily Kos</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">economy</category>
            
            <pubDate>Sat, 22 Nov 2008 10:08:16 -0400</pubDate>
        </item>
        
        <item>
            <title>TNR:  Why the Geithner Pick Is Even Better Than You Think</title>
            <description><![CDATA[Noam Scheiber has <a href="http://blogs.tnr.com/tnr/blogs/the_stump/archive/2008/11/22/why-the-geithner-pick-is-even-better-than-you-think.aspx">an interesting post</a> at TNR's The Stump on why Tim Geithner is a great choice as Treasury Secretary.

<blockquote><p>Geithner is one of the most able technocrats to have risen through Treasury's ranks, which makes him the perfect pick to run its sprawling bureaucracy; Summers is one of the top two or three economic minds of his generation, which makes him a guy you want in the room with the president. </p>

But, beyond the pairing of person and job, it's the way these guys complement one another that's really key here. Geithner is the rare bureaucrat with the smarts and the self-confidence to effectively challenge Summers when he's off base. [...]

The two men also developed an incredibly effective good cop/bad cop routine, which I'm guessing they might reprise:

    <blockquote>Summers was the bad cop--the outspoken sheriff with strong views about how to structure the international financial system. Geithner was his antidote--a master of process and protocol and Treasury's ambassador to global forums like the G-7. </blockquote></blockquote>

Scheiber goes onto speculate on how the team of Geithner as Treasury Secretary and Summers as chief economic adviser will divide the labor. It's interesting, and if it comes to pass, promising.  ]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/tnr-why-the-geithner-pick-is-e.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/tnr-why-the-geithner-pick-is-e.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">It&apos;s the Economy, Stupid</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Lawrence Summers</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Noam Scheiber</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">The New Republic</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">Tim Geithner</category>
            
            <pubDate>Sat, 22 Nov 2008 09:34:13 -0400</pubDate>
        </item>
        
        <item>
            <title>Al Jazeera English reports</title>
            <description><![CDATA[Sometime ago I subscribed to the <a href="http://www.youtube.com/user/AlJazeeraEnglish">Al Jazeera English channel</a> on youtube.  It is interesting to see world news coverage from their perspective.  Here's a selection from their coverage of the last 5 days.  The last one called <em>Street Food</em> (2 parts) is absolutely fascinating -- a bit of history, current events, tourist, and culinary taste trip through Mumbai all in one.  

Just imagine some of this coverage on US media channels.  

-- Al Jazeera English <a href="http://www.youtube.com/watch?v=qjwTko6TttQ">reports</a> (video) on the tearing down of a Hare Krishna temple and dispossession of land in Kazakhstan. 

<blockquote><p>Human rights groups have put Kazakhstan in the spot light for its treatment of religious minority groups.</p>

A long running dispute between the authorities and Hare Krishna followers could end with the destruction of the country's only Hindu temple.

Robin Forestier Walker reports from Kazakhstan.  </blockquote>

-- More reporting from Al Jazeera English on South Korea's "Fighters for a Free North Korea" activists.  It's an interesting story.  

<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/3xhERl2SoJQ&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/3xhERl2SoJQ&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div><br><br>

-- The story on voting in Kashmir, India -- a part of Al Jazeera's Inside Story series.  

<blockquote><p>Voters in Indian-administered Kashmir started heading for the polls on Monday, November 17, amid tight security. Voting for the 87 assembly seats comprising the state government is being held in seven stages until December 24, 2008.</p>

So far, around 55 per cent of Indian-controlled Kashmir's 6.4 million strong electorate have turned out to vote, including many Muslims, who separatists and rebels are urging to boycott the elections to protest against New Delhi's hold over the Himalayan region.

Indian-administered Kashmir was put under direct federal rule in July, after the state government collapsed following its controversial decision to donate land in to a Hindu pilgrim trust. About 70 per cent of the region's population is Muslim. This year has seen some of the biggest anti-India protests in the Kashmir Valley since an insurgency began in 1989.</blockquote>

Part 1 -- 
 
<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/z6lpejtcKJ8&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/z6lpejtcKJ8&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div><br><br>

Part 2 --
 
<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/j1thWvP5YNg&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/j1thWvP5YNg&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div><br><br>

-- Al Jazeera English reports on how the world financial credit crisis has impacted Hungary's economy.

<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/FqbHk4Zhh6U&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/FqbHk4Zhh6U&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div>


--  Street Food:  "In the first of a new series Al Jazeera's Divya Gopalan attempts to understand the real Mumbai by taking a culinary journey through its Street Food."

Part 1 

<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/EUMmaIONfjo&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/EUMmaIONfjo&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div><br><br>

Part 2

<div style="text-align: center;"><object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/D07WmXtxnGw&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/D07WmXtxnGw&hl=en&fs=1&color1=0x3a3a3a&color2=0x999999" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object></div>
]]></description>
            <link>http://www.realitywindow.com/archives/2008/11/al-jazeera-english-reports.html</link>
            <guid>http://www.realitywindow.com/archives/2008/11/al-jazeera-english-reports.html</guid>
            
                <category domain="http://www.sixapart.com/ns/types#category">The State of Media</category>
            
            
                <category domain="http://www.sixapart.com/ns/types#tag">Al Jazeera English</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">media</category>
            
                <category domain="http://www.sixapart.com/ns/types#tag">youtube</category>
            
            <pubDate>Thu, 20 Nov 2008 15:13:45 -0400</pubDate>
        </item>
        
    </channel>
</rss>
