Archive for March, 2008
23 Mar 2008

Easter

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Piero della Francesca, Resurrection, circa 1463,
Museo Civico, Sansepolcro

From Robert Chambers, The Book of Days, 1869:

Easter

Easter, the anniversary of our Lord’s resurrection from the dead, is one of the three great festivals of the Christian year,—the other two being Christmas and Whitsuntide. From the earliest period of Christianity down to the present day, it has always been celebrated by believers with the greatest joy, and accounted the Queen of Festivals. In primitive times it was usual for Christians to salute each other on the morning of this day by exclaiming, ‘Christ is risen;’ to which the person saluted replied, ‘Christ is risen indeed,’ or else, ‘And hath appeared unto Simon;’—a custom still retained in the Greek Church.

The common name of this festival in the East was the Paschal Feast, because kept at the same time as the Pascha, or Jewish passover, and in some measure succeeding to it. In the sixth of the Ancyran Canons it is called the Great Day. Our own name Easter is derived, as some suppose, from Eostre, the name of a Saxon deity, whose feast was celebrated every year in the spring, about the same time as the Christian festival—the name being retained when the character of the feast was changed; or, as others suppose, from Oster, which signifies rising. If the latter supposition be correct, Easter is in name, as well as reality, the feast of the resurrection.

Though there has never been any difference of opinion in the Christian church as to why Easter is kept, there has been a good deal as to when it ought to be kept. It is one of the moveable feasts; that is, it is not fixed to one particular day—like Christmas Day, e. g., which is always kept on the 25th of December—but moves backwards or forwards according as the full moon next after the vernal equinox falls nearer or further from the equinox. The rule given at the beginning of the Prayer-book to find Easter is this: ‘Easter-day is always the first Sunday after the full moon which happens upon or next after the twenty-first day of March; and if the full moon happens upon a Sunday, Easter-day is the Sunday after.’

The paschal controversy, which for a time divided Christendom, grew out of a diversity of custom. The churches of Asia Minor, among whom were many Judaizing Christians, kept their paschal feast on the same day as the Jews kept their passover; i. e., on the 14th of Nisan, the Jewish month corresponding to our March or April. But the churches of the West, remembering that our Lord’s resurrection took place on the Sunday, kept their festival on the Sunday following the 14th of Nisan. By this means they hoped not only to commemorate the resurrection on the day on which it actually occurred, but also to distinguish themselves more effectually from the Jews. For a time this difference was borne with mutual forbearance and charity. And when disputes began to arise, we find that Polycarp, the venerable bishop of Smyrna, when on a visit to Rome, took the opportunity of conferring with Anicetas, bishop of that city, upon the question. Polycarp pleaded the practice of St. Philip and St. John, with the latter of whom he had lived, conversed, and joined in its celebration; while Anicetas adduced the practice of St. Peter and St. Paul. Concession came from neither side, and so the matter dropped; but the two bishops continued in Christian friendship and concord. This was about A.D. 158.

Towards the end of the century, however, Victor, bishop of Rome, resolved on compelling the Eastern churches to conform to the Western practice, and wrote an imperious letter to the prelates of Asia, commanding them to keep the festival of Easter at the time observed by the Western churches. They very naturally resented such an interference, and declared their resolution to keep Easter at the time they had been accustomed to do. The dispute hence-forward gathered strength, and was the source of much bitterness during the next century. The East was divided from the West, and all who, after the example of the Asiatics, kept Easter-day on the 14th, whether that day were Sunday or not, were styled Qiccertodecimans by those who adopted the Roman custom.

One cause of this strife was the imperfection of the Jewish calendar. The ordinary year of the Jews consisted of 12 lunar months of 292 days each, or of 29 and 30 days alternately; that is, of 354 days. To make up the 11 days’ deficiency, they intercalated a thirteenth month of 30 days every third year. But even then they would be in advance of the true time without other intercalations; so that they often kept their passover before the vernal equinox. But the Western Christians considered the vernal equinox the commencement of the natural year, and objected to a mode of reckoning which might sometimes cause them to hold their paschal feast twice in one year and omit it altogether the next. To obviate this, the fifth of the apostolic canons decreed that, ‘ If any bishop, priest, or deacon, celebrated the Holy Feast of Easter before the vernal equinox, as the Jews do, let him be deposed.’

At the beginning of the fourth century, matters had gone to such a length, that the Emperor Constantine thought it his duty to take steps to allay the controversy, and to insure uniformity of practice for the future. For this purpose, he got a canon passed in the great Ecumenical Council of Nice (A.D. 325), that everywhere the great feast of Easter should be observed upon one and the same day; and that not the day of the Jewish passover, but, as had been generally observed, upon the Sunday afterwards. And to prevent all future disputes as to the time, the following rules were also laid down:

‘That the twenty-first day of March shall be accounted the vernal equinox.’

‘That the full moon happening upon or next after the twenty-first of March, shall be taken for the full moon of Nisan.’

‘That the Lord’s-day next following that full moon be Easter-day.’

‘But if the full moon happen upon a Sunday, Easter-day shall be the Sunday after.’

As the Egyptians at that time excelled in astronomy, the Bishop of Alexandria was appointed to give notice of Easter-day to the Pope and other patriarchs. But it was evident that this arrangement could not last long; it was too inconvenient and liable to interruptions. The fathers of the next age began, therefore, to adopt the golden numbers of the Metonic cycle, and to place them in the calendar against those days in each month on which the new moons should fall during that year of the cycle. The Metonie cycle was a period of nineteen years. It had been observed by Meton, an Athenian philosopher, that the moon returns to have her changes on the same month and day of the month in the solar year after a lapse of nineteen years, and so, as it were, to run in a circle. He published his discovery at the Olympic Games, B.C. 433, and the cycle has ever since borne his name. The fathers hoped by this cycle to be able always to know the moon’s age; and as the vernal equinox was now fixed to the 21st of March, to find Easter for ever. But though the new moon really happened on the same day of the year after a space of nineteen years as it did before, it fell an hour earlier on that day, which, in the course of time, created a serious error in their calculations.

A cycle was then framed at Rome for 84 years, and generally received by the Western church, for it was then thought that in this space of time the moon’s changes would return not only to the same day of the month, but of the week also. Wheatley tells us that, ‘During the time that Easter was kept according to this cycle, Britain was separated from the Roman empire, and the British churches for some time after that separation continued to keep Easter according to this table of 84 years. But soon after that separation, the Church of Rome and several others discovered great deficiencies in this account, and therefore left it for another which was more perfect.’—Book on the Common Prayer, p. 40. This was the Victorian period of 532 years. But he is clearly in error here. The Victorian period was only drawn up about the year 457, and was not adopted by the Church till the Fourth Council of Orleans, A.D. 541.

Now from the time the Romans finally left Britain (A.D. 426), when he supposes both churches to be using the cycle of 84 years, till the arrival of St. Augustine (A.D. 596), the error can hardly have amounted to a difference worth disputing about. And yet the time the Britons kept Easter must have varied considerably from that of the Roman missionaries to have given rise to the statement that they were Quartodecimans, which they certainly were not; for it is a well-known fact that British bishops were at the Council of Nice, and doubtless adopted and brought home with them the rule laid down by that assembly. Dr. Hooke’s account is far more probable, that the British and Irish churches adhered to the Alexandrian rule, according to which the Easter festival could not begin before the 8th of March; while according to the rule adopted at Rome and generally in the West, it began as early as the fifth. ‘They (the Celts) were manifestly in error,’ he says; ‘but owing to the haughtiness with which the Italians had demanded an alteration in their calendar, they doggedly determined not to change.’—Lives of the Archbishops of Canterbury, vol. i. p. 14.

After a good deal of disputation had taken place, with more in prospect, Oswy, King of Northumbria, determined to take the matter in hand. He summoned the leaders of the contending parties to a conference at Whitby, A.D. 664, at which he himself presided. Colman, bishop of Lindisfarne, represented the British church. The Romish party were headed by Agilbert, bishop of Dorchester, and Wilfrid, a young Saxon. Wilfrid was spokesman. The arguments were characteristic of the age; but the manner in which the king decided irresistibly provokes a smile, and makes one doubt whether he were in jest or earnest. Colman spoke first, and urged that the custom of the Celtic church ought not to be changed, because it had been inherited from their forefathers, men beloved of God, &c. Wilfrid followed:

‘The Easter which we observe I saw celebrated by all at Rome: there, where the blessed apostles, Peter and Paul, lived, taught, suffered, and were buried.’ And concluded a really powerful speech with these words: ‘And if, after all, that Columba of yours were, which I will not deny, a holy man, gifted with the power of working miracles, is he, I ask, to be preferred before the most blessed Prince of the Apostles, to whom our Lord said, “Thou art Peter, and upon this rock will I build my church, and the gates of hell shall not prevail against it; and to thee will I give the keys of the kingdom of heaven” ?’

The King, turning to Colman, asked him, ‘Is it true or not, Colman, that these words were spoken to Peter by our Lord?’ Colman, who seems to have been completely cowed, could not deny it. ‘It is true, 0 King.’ ‘Then,’ said the King, ‘can you shew me any such power given to your Columba? ‘ Colman answered, ‘ No.’ ‘You are both, then, agreed,’ continued the King, are you not, that these words were addressed principally to Peter, and that to him were given the keys of heaven by our Lord?’ Both assented. ‘Then,’ said the King, ‘I tell you plainly, I shall not stand opposed to the door-keeper of the kingdom of heaven; I desire, as far as in me lies, to adhere to his precepts and obey his commands, lest by offending him who keepeth the keys, I should, when I present myself at the gate, find no one to open to me.’

This settled the controversy, though poor honest Colman resigned his see rather than submit to such a decision.

On Easter-day depend all the moveable feasts and fasts throughout the year. The nine Sundays before, and the eight following after, are all dependent upon it, and form, as it were, a body-guard to this Queen of Festivals. The nine preceding are the six Sundays in Lent, Quinquagesima, Sexagesima, and Septuagesima; the eight following are the five Sundays after Easter, the Sunday after Ascension Day, Whit Sunday, and Trinity Sunday.

EASTER CUSTOMS

The old Easter customs which still linger among us vary considerably in form in different parts of the kingdom. The custom of distributing the ‘pace’ or ‘pasche ege,’ which was once almost universal among Christians, is still observed by children, and by the peasantry in Lancashire. Even in Scotland, where the great festivals have for centuries been suppressed, the young people still get their hard-boiled dyed eggs, which they roll about, or throw, and finally eat. In Lancashire, and in Cheshire, Staffordshire, and Warwickshire, and perhaps in other counties, the ridiculous custom of ‘lifting’ or ‘heaving’ is practised.

On Easter Monday the men lift the women, and on Easter Tuesday the women lift or heave the men. The process is performed by two lusty men or women joining their hands across each other’s wrists; then, making the person to be heaved sit down on their arms, they lift him up aloft two or three times, and often carry him several yards along a street. A grave clergyman who happened to be passing through a town in Lancashire on an Easter Tuesday, and having to stay an hour or two at an inn, was astonished by three or four lusty women rushing into his room, exclaiming they had come ‘to lift him.’ ‘To lift me!’ repeated the amazed divine; ‘what can you mean?’ ‘Why, your reverence, we’re come to lift you, ’cause it’s Easter Tuesday.’ ‘Lift me because it’s Easter Tuesday? I don’t understand. Is there any such custom here?’ ‘Yes, to be sure; why, don’t you know? all us women was lifted yesterday; and us lifts the men today in turn. And in course it’s our rights and duties to lift ’em.’

After a little further parley, the reverend traveller compromised with his fair visitors for half-a-crown, and thus escaped the dreaded compliment. In Durham, on Easter Monday, the men claim the privilege to take off the women’s shoes, and the next day the women retaliate. Anciently, both ecclesiastics and laics used to play at ball in the churches for tansy-cakes on Eastertide; and, though the profane part of this custom is happily everywhere discontinued, tansy-cakes and tansy-puddings are still favourite dishes at Easter in many parts. In some parishes in the counties of Dorset and Devon, the clerk carries round to every house a few white cakes as an Easter offering; these cakes, which are about the eighth of an inch thick, and of two sizes —the larger being seven or eight inches, the smaller about five in diameter— have a mingled bitter and sweet taste. In return for these cakes, which are always distributed after Divine service on Good Friday, the clerk receives a gratuity- according to the circumstances or generosity of the householder.

23 Mar 2008

Approaching the Tipping Point on Global Warming

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The Australian reports that the data is in, and it does not fit the catastrophist models.

It appears that the tipping point we are approaching is actually the one in which accumulating facts make the Convenient Fantasy (justifying the greater regulation and higher taxes the left wants) impossible to sustain.

Catastrophic predictions of global warming usually conjure with the notion of a tipping point, a point of no return.

Last Monday – on ABC Radio National, of all places – there was a tipping point of a different kind in the debate on climate change. It was a remarkable interview involving the co-host of Counterpoint, Michael Duffy and Jennifer Marohasy, a biologist and senior fellow of Melbourne-based think tank the Institute of Public Affairs. Anyone in public life who takes a position on the greenhouse gas hypothesis will ignore it at their peril.
Duffy asked Marohasy: “Is the Earth stillwarming?”

She replied: “No, actually, there has been cooling, if you take 1998 as your point of reference. If you take 2002 as your point of reference, then temperatures have plateaued. This is certainly not what you’d expect if carbon dioxide is driving temperature because carbon dioxide levels have been increasing but temperatures have actually been coming down over the last 10 years.”

Duffy: “Is this a matter of any controversy?”

Marohasy: “Actually, no. The head of the IPCC (Intergovernmental Panel on Climate Change) has actually acknowledged it. He talks about the apparent plateau in temperatures so far this century. So he recognises that in this century, over the past eight years, temperatures have plateaued … This is not what you’d expect, as I said, because if carbon dioxide is driving temperature then you’d expect that, given carbon dioxide levels have been continuing to increase, temperatures should be going up … So (it’s) very unexpected, not something that’s being discussed. It should be being discussed, though, because it’s very significant.”

Duffy: “It’s not only that it’s not discussed. We never hear it, do we? Whenever there’s any sort of weather event that can be linked into the global warming orthodoxy, it’s put on the front page. But a fact like that, which is that global warming stopped a decade ago, is virtually never reported, which is extraordinary.”

Read the whole thing.

23 Mar 2008

It’s Raining McCain

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Some of us thought that the Obama video was pretty weird, but that was before we saw this McCain Girls 2:34 video. Wow!

Hat tip to Matt Yglesias.

23 Mar 2008

US Waging Economic War on China?

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John Mangum argues that the US Government’s failure to strengthen the dollar is a clever and deliberate (and unannounced) gambit in the economic contest between the US and China.

we must ask, why is this happening? Why have the prices of commodities like oil and gold risen so dramatically in the last year? Why has the dollar fallen so much? Normal business cycle? Bad management from the world’s financial institutions? And why hasn’t the world’s largest and strongest economy, backed by the most powerful government, been able to change the course of the situation?

Perhaps the larger picture is that the United States is waging an economic war against China.

The United States could strengthen the value of the dollar. It has not. China is hurt because now Chinese products are very expensive in the United States, and this will reduce the US trade deficit with China. China must import huge amounts of oil and strategic metals which are very much more expensive now. China holds hundreds of millions of physical dollars, the value of which is now much less.

China has refused to revalue its currency to a realistic level to improve its trade position with the United States. China has used its huge dollar reserves as a sword against the United States by threatening to sell those dollars, and thereby causing the dollar to drop in value. In effect, the United States is using China’s strength against China.

In order for China to maintain the levels of its trade with the United States, it will be forced to lower the value of its currency. However, if it does that, it faces two major problems. Foreign direct investment (FDI) into China would become less expensive, and China is worried that more and cheaper FDI would spur China’s inflation. Further, a devalued currency would reduce the profit to China for its exported goods.

If China keeps it currency at its present levels, the United States will buy less. The United States wanted a stronger yuan to reduce trade, which China was unwilling to do. That objective is now achieved by a weaker dollar.

China’s dollar holdings are worth much less when buying goods like oil and metals that China depends on for its development and growth. Further, China has been talking and trying for some time to diversify its foreign-reserve holdings form dollars to other currencies and gold. Now, their dollars are worth much less when buying gold, yen and euros. …

the “crisis” is being used to further the US economic position, long-term position, particularly with regard to China. From Sun Tzu: “All warfare is based on deception.”

22 Mar 2008

Battle of the Sexes

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Two video attempts at honesty about sex from differing perspectives.

Male honesty:

“Ooh Girl!” – An Honest R&B Song – 2:28 video

Female honesty:

“I Guess You’ll Do” – An Honest Animation – 4:40 video

H/t to Vanderleun.

22 Mar 2008

Freeze to Death in the Dark

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Don Surber loses his temper over the irrationality of it all.

Kansas Gov. Sebelius kills 2 new coal plants.

Does she prefer some other fossil fuel?

Or nukes?

Or flooding half her state for hydro-power?

Because unless she is willing to put up with one of those alternatives, Democratic Gov. Kathleen Sebelius of Kansas just doomed her state by vetoing a bill that would have cleared the way for two state-of-the-art coal-fired plants to serve the state’s electric needs in the 21st century.

She has no plan.

She prefers darkness.

“Instead of building two new coal plants, which would produce 11 million new tons of carbon dioxide each year, I support pursuing other, more promising energy and economic development alternatives,” she said in a statement accompanying the veto.

What are those alternatives?

Rubbing lamps to conjure up genies?

Hamsters in wheels?

If she is talking about solar power, then she is either an idiot or a charlatan. America has pursued that pipe-dream for 30 years or more.

In 2006, solar supplied 1% of 1% of America’s electric use. Wind supplied about ½%. Combined they produced 26.3 billion kilowatt hours of power – in a nation that consumed 4,053 billion kilowatt hours of electricity.

Will anyone challenge this woman’s ignorance on the subject?

The stupidity of people is truly amazing. My college class, for instance, is full of people who get all their opinions from the daily papers, and who are utterly econonically illiterate. They are perfectly prepared to believe that an injection of government funding will change reality, and all those idle technologists (unmotivated by the paltry rewards available right now via the sale of cheaper, cleaner forms of energy) will suddenly spring into action and, abracadabra! new magical ways will be found to make wind and solar power economically competitive. They’re nuts.

Hat tip to the News Junkie.

22 Mar 2008

One Lucky Fellow

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Fred Barnes observes that this year the fates have been playing on John McCain’s team.

John McCain is one lucky fellow. Of course you can make your own luck, as the saying goes. That’s what McCain did with great courage to survive five-and-a-half years at the Hanoi Hilton. And he made his own luck again by advocating a surge of troops in Iraq that later proved to be successful.

In winning the Republican presidential nomination, however, McCain has mostly been just plain lucky, no thanks to his own fortitude or foresight. Conservatives inadvertently aided him by failing to line up behind a single rival. Mike Huckabee ruined Mitt Romney’s strategy by beating him in Iowa. And Rudy Giuliani helped by pulling out of New Hampshire and fading in Florida, allowing McCain to sneak ahead and win primaries in both states.

Now Democrats are boosting McCain’s chances of winning the presidency by prolonging the battle for the Democratic presidential nomination. “They are eating their own,” says Dick Morris, the onetime adviser to the Clintons. The result, for the moment anyway, is that McCain is inching ahead in polls matching him against Barack Obama and Hillary Clinton.

So long as Clinton stays in the race, the bitter divide among Democrats will widen–to McCain’s advantage. And since Clinton still has a chance of winning the nomination, she’s bound to continue her campaign at least through the Pennsylvania primary on April 22 and the Indiana and North Carolina primaries on May 6–and probably until the verdict of Democratic super-delegates becomes clear sometime this summer.

No matter who ultimately wins the nomination, the prospects for electing a Democratic president this fall will have declined. And through no machinations of his own, McCain’s chances of winning will have improved. There’s a name for that happenstance: luck.

Read the whole thing.

22 Mar 2008

Hallelujah, It’s Rich White People’s Fault

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Lee Culpepper sees the light, or at least the Wright.

Watching the “Reverend” Jeremiah Wright gesticulate like a horny peacock and spew out ignorance, hatred, and bitterness towards America truly inspired my religious faith. …

I don’t know about you, but I feel liberated now that I realize that my own stupid decisions and selfish actions are no longer my fault. Now that I won’t have to accept responsibility for my thoughts, my words, or my decisions, I am thanking God for creating rich, white people for me to blame all my problems on. I’m also thanking God for justifying my sin whenever I allow myself to think something I shouldn’t about other people — just as Reverend Wright has taught me to do. …

I also realize now that rich, white people are responsible for poor children growing up in single-parent families. I used to think that the irresponsible sexual behavior and lack of commitment between the children’s parents were responsible. But I guarantee these parents feel a lot better knowing their fornication is someone else’s fault. Thanks to the Wright kind of reverend, I now have a totally new respect for sexually immoral people – unless they are rich and white, of course.

Despite the conflicting medical evidence, I now know too that AIDS and drug abuse are rich, white people’s fault. Individual’s who choose to abuse drugs and engage in deviant sexual behavior are merely victims driven to bad decisions by rich, white people. Certainly being a victim of evil people feels better than thinking of one’s self as just a pathetic drug addict or a promiscuous sexual deviant. “Oh, I am so glad” that Reverend Wright worked “twice as hard…to get a passing grade” and that he knows he is “smarter than that C-student sitting in the White House.” Otherwise, I would have never known the truth about drugs and AIDS.

I can’t tell you how relieved I was Tuesday concerning Obama and Wright’s twenty-year relationship. Obama said, “Not once in my conversations with him have I heard him talk about any ethnic group in derogatory terms.” Praise the Lord for prepositional phrases like “in my conversations with him.”

When Obama said, “I can no more disown [Wright] than I can disown the black community,” I was glad Obama didn’t actually mean, “If I disowned Reverend Wright because he’s a racist, I would instantly become one of those ‘Negroes who just don’t get it.’”

I finally swooned (actually, I cringed) at Obama’s hopeful audacity when he eloquently humiliated his white grandmother for political gain because “she once confessed her fear of black men who passed by her on the street, and who on more than one occasion [had] uttered racial or ethnic stereotypes that made [Obama] cringe.”

I haven’t figured out, however, how rich, white people caused Obama’s father to abandon his responsibilities as a dad and a husband – thereby forcing someone else to provide for and care for his child. Perhaps Mr. Obama strategically deserted his family so Reverend Wright could preach that Barak “fits the mold” of a poor, black man — even though Obama was raised by his generous and loving white grandparents.

More importantly, I’m just grateful that Barak refocused our country on “the real culprits” related to racial hostilities. Obama targeted “a corporate culture rife with inside dealing, questionable accounting practices, and short-term greed,” as well as “economic policies that favor the few over the many.” Yes, Obama, if America’s evil corporations and economic policies were not preoccupied with causing greater suffering in the world, perhaps they could find time to develop medications to treat AIDS and continuously improve technology to better our lives.

Obama has reminded all of us that we have a choice. We can examine disturbing evidence in order to draw the right conclusions. Or we can simply ignore it and have the audacity to hope it just goes away.

22 Mar 2008

How to End the Panic

Steve Forbes identifies two steps for the administration to take to end the panic in the equities and real estate markets.

The Bush administration must take two steps immediately to quickly halt the unending, enervating credit crisis: shore up the anemic dollar and, for the time being, suspend “marking to market” those new financial instruments, such as packages of subprime mortgages.

The weak dollar is pummeling equities, disrupting the economy, distorting global trade and giving hundreds of billions of dollars in windfall revenues–through skyrocketing commodity prices–to our adversaries such as Iran and Venezuela. Not since Jimmy Carter has the U.S. had a President so oblivious to the damage done by an increasingly feeble greenback.

The Federal Reserve can rally the markets for a day or two by finding some new mechanism through which to lend more money to banks and other financial institutions. But this is the proverbial Band-Aid for a patient who is beginning to hemorrhage.

The Administration acts as if the dollar were like the sun, its rising and falling beyond any control. Countless times experience has shown that notion to be false. The U.S. Treasury Department could buy dollars in the currency exchange markets. Our allies would gladly cooperate with such an operation; their exports are being hurt more and more. The Fed could mop up some of the excess liquidity it has created since 2004, even as it makes targeted loans to beleaguered banks and financial houses.

The other measure: The Treasury Department and the Fed should get together with the SEC, the Comptroller of the Currency and other bank regulators and announce that financial institutions for the next 12 months will no longer write down the value of exotic financial instruments (primarily packages of subprime mortgages). Instead, writedowns will occur only when there have been actual losses on those assets. If a mortgage defaults, a bank will then–and only then–recognize the loss.

It’s preposterous to try to guess what these new instruments are worth in a time of panic. Such assets are being marked down to increasingly arbitrary low levels. But when a bank books such a loss, it must replenish depleted capital, even though cash flows for most financial firms are still positive. Worse, when forced by panicky regulators and lawsuit-fearing accountants to write down the value of these securities, institutions will dump assets in a market where there are temporarily few or no buyers. The result is a spiraling disaster. So let’s have a time-out on markdowns until we actually have real experience in what kind of losses are actually going to occur.

These two steps would quickly end the panic.

He basically right, but one more step (beyond the power of the current administration) is needed. The democrats need to lose in November.

It’s not only the weak dollar and the credit crisis resulting from write-downs inducing fear and depression. There is the belief that a democrat is inevitably going to win in November, and next year Congress, encouraged by the White House, will start raising taxes.

22 Mar 2008

Easter

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photo by Steve (Bagleman) flickr.com

Hat tip to Nevada Girl.

21 Mar 2008

White People

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This blog has been getting a lot of attention this week.

Ostensibly about “what white people like,” it’s really more of a David Brooks-ian look at the means of self-gratification of the haute urban bourgeois community of fashion, and there isn’t much of anything HUBs (as Whit Stillman likes to call them) like better than faux-ironic commentaries on what it means to be white.

Its success has apparently even produced a spin-off: Stuff Asian People Like. (Which is not working today)

21 Mar 2008

From a Time Travellers’ Discussion Board

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International Association of Time Travelers: Members’ Forum Subforum: Europe – Twentieth Century – Second World War
Page 263

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