Welcome To A Paper Economy

The Fed is opening up another 800 billion dollars of loans. This puts its balance sheet at about 3 trillion, supposedly (I have my doubts about that number). For reference, before the crisis, the Fed's balance sheet was about 800 billion. In the old days this would have been called what it is: running the printing press hot.

read more | digg story

Florida's Gay Adoption Ban Overturned

Miami judge rules against Florida's ban on adoptions by gay people, finds 'no rational basis'

read more | digg story

Bowoto v. Chevron: White Guilt Clouds The Truth

Today features jury instructions and closing arguments in the trail of Bowoto v. Chevron. In the accounts of the trial, I've noticed an interesting pattern of the perspective of what I know call "White Activist Guilt". From that perspective, Chevron is the rich, bad "white" company, and the Nigerian militant groups attacking that company's employees and facilities are all good, non-violent folks.   This is the kind of view that has been presented by blogger Scott Gilmore, and others.  But his blog's arguably the best one solely dedicated to the Bowoto trial, so I'll start there.

The story he tells of a peaceful demonstration by Bowoto is just not true. But the real story of this case is the poor Nigerian economic development and that government's neglect in making life better for Nigeria's poor, who've formed militant groups to take whatever wealth they can.  

Obama’s Economic Team May Push for Deeper Role in Economy, Markets

Barack Obama will today unveil an economic team steeped in fighting crises and likely to push for an unprecedented government role in reviving growth and stabilizing the financial system.

read more | digg story

Last Secrets of the Bush Administration - Charles Homans

Iin March 2001, U.S. Archivist John W. Carlin received a letter from Alberto Gonzales, then counsel to the newly inaugurated president George W. Bush. It concerned an important deadline that was looming—one that Bush owed to Richard Nixon.In 1974, Congress ordered a lockdown on all records kept by the Nixon White House, afraid that the....

read more | digg story

Dow's biggest 2-day run since '87

Citigroup rescue and Obama economic team picks propel stocks. Dow sees its biggest two-session point gain ever and biggest two-session percentage gain in 21 years.

read more | digg story

Is George Bush off the wagon? Or was he ever really on it?

George Bush caught imbibing at the APEC summit. Time to get to AA, George, and start working on that fearless moral inventory. . .

read more | digg story

Report Finds Katrina Kids Have Poor Health

Even before the storm, they were some of the country's neediest kids. Now, the children of Katrina who stayed longest in ramshackle government trailer parks in Baton Rouge are "the sickest I have ever seen in the U.S.," says Irwin Redlener, president of the Children's Health Fund.

read more | digg story

White House chefs look for sensitivity, not a star

Speculating about a new chef at the White House has become — as one culinary insider puts it — fantasy football for foodies. But as tempting as it may be to see the Obama family's choice as the ultimate "Top Chef" competition, former White House chefs say the job is about selfless service, not star power.

read more | digg story

Top 7 Absolute Worst Books to Buy Someone for X-Mas

Nascar holiday? Jesus' love life? From romantic cheese to sheer horror and, yes, Thomas Friedman, we won't be curling up with these at all this holiday season--and neither should you, or anyone you care about in the slightest.

read more | digg story

President-Elect Barack Obama Introduces Economic Team Today - Video

President-Elect Barack Obama introduced his Economic Team today.   I have an earlier post on it, but this one features a two-part video: the presentation and the press conference after it.






Press Conference:


 

Alan Colmes Leaves Hannity & Colmes For Liberal Pastures

Realizing I think that liberalism is back and "in" and "green", Alan Colmes of Hannity & Colmes on Fox News, is leaving at the end of the year .  He's already got a blog up called "Liberland" under the URL http://www.alan.com -- I'm not kidding.