Just comic

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Hopeless, but not serious

As the markets tumble, look back at a piece in the New Yorker from the 1929 crash:

The collapse of the market, over and above the pain, couldn’t help but be amusing. It is amusing to see a fat land quivering in paunchy fright. The quake, furthermore, verified our suspicion that our wise and talky friends hadn’t known for months what they were talking about when they were discussing stocks. Forcing us to breakfast on copper and oil, dine on sugar and food products, and sleep with rails and motors, they had succeeded in boring us to the breaking point. Uninformed dreamers, running a fever. Then came the debacle. They still talked, in husky voices; but we at least had the satisfaction of knowing that it was costing them anywhere from a hundred to two hundred and fifty dollars a word every time they opened their mouths. Many of them have gone quietly back to work. They may not be the most useful citizens in the world, but from now on when they talk they’ll talk about their business or their love affairs and know a little something of what they’re talking about.

—E. B. White,November 2, 1929

It inspired me to share 2 full issues of the New Yorker ( more than 80 years in between)

Oct 26, 1929 and Aug 08, 2011

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Dhaka’s Miracle Factory

Cholera, the silent killer, plagues Dhaka regularly, but the local hospital is pioneering a preventative approach which could bring hope to millions.

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Rates of Wrath

By Paul Krugman

Not good news in stock markets — but you really have to look at the bond markets to get the full awfulness of the situation.

The US 10-year bond rate is now down to 2.5%. So much for those bond vigilantes. What this rate is saying is that markets are pricing in terrible economic performance, quite possibly a double dip. And it also says that Washington’s deficit obsession has been utterly, totally wrong-headed.

Meanwhile, Italy’s spread against German bonds is soaring even further. What are markets pricing in here? Default as a real possibility; maybe even euro breakup. The latter certainly sounds a lot more plausible now than it did a few months ago.

Oh, by the way, how do I know that falling rates in America and rising rates in Italy are both bad news? Part of the answer is that you have to look at the context. My old teacher Charles Kindleberger used to say about balance of payments analysis that everyone wanted a single number that told you whether things were good or bad, but what you really needed, always, was a story.

But if that doesn’t satisfy you, you can always make sure to look at more than one market. Italian stocks are plunging, which tells you that the rate rise isn’t about economic optimism; so are US stocks, which tells you that our rate fall isn’t about optimism regarding US solvency.

So things are falling apart all over. Maybe someone should do something?

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The other 50 percent

Love and the opening of the heart

What is grace ? What is love ? What is acceptance ? In this deep enquiry Adyashanti is guiding us to experience what he calls the ” awakening on the level of heart” – which is a direct experience of the intimacy of infinite, uncaused love. These 2 phases – non-existence experienced when we let go of the mind, and then the opposite, which is to let go into form.

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Happy Meal 2011

By Mark Bittman

Life would be so much easier if we could only set our own guidelines. You could define the average weight as 10 pounds higher than your own and, voilà, no more obesity! You could raise the speed limit to 90 miles per hour and never worry about a ticket. You could call a cholesterol level of 250 “normal” and celebrate with a bag of fried pork rinds. (You could even claim that cutting government spending would increase employment, but that might be going too far.) You could certainly turn junk food into something “healthy. 

That’s what the food industry is doing.

Back in May I wrote about the voluntary guidelines for marketing junk food to kids developed by an interagency group headed by the Federal Trade Commission. These non-binding suggestions ask that the industry market real food to kids instead of the junk they so famously favor selling. But the industry argues that the recommendations are effectively mandatory because non-compliance would lead to retaliation and eliminate all food advertising to adolescents, as well as 74,000 jobs.

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The price of division

With so much speculation surrounding the issue, what were the real motives behind Breivik's attacks?

By Mark Levine

A virtue of Anders Breivik’s 1,500 page opus is that, by so thoroughly and heavily citing the leaders of the anti-Islam creed, his arguments are inseparable from theirs. Indeed, the more honest anti-Islam crusaders have declared that while his actions are condemnable, his ideas deserve a fair hearing.

What Americans should take note of is the fact that so many of the voices that inspired Breivik’s murderous action come from these shores, not Europe. Not merely cable personalities like Bill O’Reilly and Glenn Beck but former Supreme Court nominee Robert Bork, current and former military leaders and wealthy businessmen have all signed onto the Islamophobia bandwagon driven by the so-called experts like Daniel Pipes or Robert Spencer, whose primary target besides Muslims is, like Breivik, progressive intellectual, cultural and political voices.

“We think the price was worth it.”

These words were uttered by then Secretary of State Madeline Albright during a May 1996 60 Minutes interview with Leslie Stahl. She was not talking about the cost of renovating the the Harry S. Truman building that serves as the headquarters for the State Department, or even the price of a new fleet of custom jets to shuttle senior officials between various Middle Eastern hotspots.

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A question on faith

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Taking to the streets

Israelis suffering from high costs of living have moved into tents as a form of protest

By MJ Rosenberg

Imagine if the anti-establishment fervor that followed the 2008 economic collapse produced a political movement that was essentially progressive rather than reactionary.

The fury that swept the country might have been directed at the people who caused the collapse and the people who did nothing to mitigate its effects.

But, for a number of reasons, including the failure of Democrats to steer popular anger where it belonged, popular rage was harnessed by the Tea Party movement, a creation of the far right and ultimately part of the Republican Party.

It’s hard to blame Republicans for exploiting anti-establishment rage and it is impossible not to blame Democrats for letting them get away with it.

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Rich and poor

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