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Monday, November 22, 2010
Tuesday, September 21, 2010
FOOD FOR THOUGHT-The Recession's Over. The Emergency Isn't
According to a flurry of headlines today, a panel of economists just announced that "the recession's over." Is that true? Yes. Does that mean we're no longer in a crisis, or that steps to fix the economy aren't as urgently needed as they were before? Absolutely not. The situation on the ground -- in the lives of the millions of people who must survive in today's economy -- hasn't changed. We still need jobs, and we still need a concerted government effort to create them. The economists weren't declaring an end to the problem, but most Americans wouldn't understand that from the way the story was covered.
"Recession officially ended in June 2009," says CNN in a typical headline. The Los Angeles Times headline elaborates: "Recession was longest since the 1930s." While most major outlets worked hard to put the story in context, the word "recession" itself confuses readers. What is a "recession"? And what does the National Bureau of Economic Research (NEBR) mean when it says that a "recession is over," much less that one ended over a year ago?
Too many people, including some who write on economics and public policy, assume the word "recession" means "like a depression, but not as bad." They relate "recession" to "depression" pretty much the same way Aerosmith defines "pink": "It's like red, but not quite." In this vague definition, a "recession" is a period of time in which things pretty much suck, economically speaking, but aren't as bad as they were in the 1930s. When economists say a recession's ended, people who misinterpret the word assume they're saying things have gotten better. But that's not what "recession" means to economists.
The dictionary definition of the word "recession" is "the act of receding or withdrawing," and that's pretty close to the economic definition. Technical definitions can vary, but the NEBR's definition - a time when "a significant decline in economic activity spreads across the economy" - is pretty much the economic standard. In other words, a recession happens when economic activity is "receding." When it stops receding and begins to move forward again - however slowly or inadequately - the recession is over.
An analogy: When the earth stops shaking, seismologists all agree that an earthquake is over. That doesn't change the fact that it's left a lot of wreckage behind.
The damage caused by recessions can sometimes be repaired in large part by improved economic growth, but we're not seeing enough growth (or the right kind) right now. The NEBR's economists took enormous pains to address the ongoing economic wreckage in their announcement today. In making this determination, the announcement said, "the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity." They took note of continued difficulties, especially regarding unemployment.
Despite the NEBR panel's laudable attempt to provide the right context for its report, some people misinterpreted it anyway. Mike Thompson of the Detroit Free Press said this: "Hot off the wires: According to a transmission that planet Earth has just received from the planet where economists dwell, the recession is over! " While Thompson's heart is clearly in the right place - he goes on to describe the ongoing human suffering - the problem here isn't the NEBR. It's the public misinterpretation of the word itself, made worse by the media's failure to provide proper definitions or context.
Matt Phillips of the Wall Street Journal went even further off the beam in an article that begins, "The high-priests of recession dating have spoken." The article goes on:
"Really?," the American public says. "That's funny because we're still pretty miserable." "
Well, that's neither here nor there,' " say the egg-heads on the NBER.
That's just wrong. Phillips does eventually cite the committee's caveat, but not before leaving the impression that the NEBR, rather than his own piece, is confused about what it means to be in a "recession." The WSJ did much better in its news section, where an article was headlined "Recession Over, but Weakness Remains." Other coverage, like Catherine Rampell's in the New York Times and Neil Irwin's in the Washington Post, were equally balanced. Nevertheless, the misunderstandings and misinterpretations will continue as long as coverage of items like the NEBR report don't provide a clear, easy-to-read explanation of the word "recession."
The confusion and misinterpretation extends to the stock market, too. If reports like these are true and the NEBR report caused stock prices to jump - even if only by 1% or so - that should put the lie to belief in 'the wisdom of markets.' That's just dumb. There's no hard information in this report that hasn't been known for a long time. (It's their analysis of that data that's newsworthy.) More importantly, the report isn't an 'all clear' signal. It reads more like a wakeup call about our ailing economy and the possibility of future dangers, observing that this was the longest recession since World War II and leaving the door open to the possibility of another recession.
The biggest danger posed by these misunderstandings is that they will mislead people into thinking things are getting better on their own. We're technically in a "recovery," but that's like saying the flood waters are subsiding after a tidal wave. Millions of lives are still devastated, and the pace of recovery is much too weak to help them in the foreseeable future.
How bad is it out there? There are 4 million fewer wage earners today than there were in 2007, but more and more people are entering the workforce. Long-term unemployment is at record levels. If things don't change, many unemployed Americans over 50 may never work again. Their passport to the American dream will have been permanently revoked.
Young people aren't faring any better. The unemployment rate among people aged 18 to 24 was 18% in August. We're facing the possibility of an entire generation entering the workforce without any jobs available. That's why Derek Thompson, a fine economics writer who also belongs to the twentysomething generation, added this comment to a piece on millenials forced to live with their parents: "We want to work. We want to grow up. We want to have our own jobs and apartments and weddings and baby showers. But many young people cannot do those things right now ... "
Youth unemployment isn't just demoralizing and painful while people are out of work. It can also cripple their lifetime earning ability. That's one reason why the Secretary-General of the OECD called US youth unemployment "a tragedy within a tragedy" and said "there is danger of a frustrated generation." ("There's no future for you," sang the Sex Pistols. "We're the flowers in the dustbin.")
Under-employment is an enormous problem, too. As Arjun Jayadev and Mike Konczal observed, underemployment is up across thirteen different employment sectors. That's one reason why the gap in household earning between white and African American families isn't closing, even though their average hourly wages are closer than they once were.
More economic tragedy: Nearly 44 million Americans live in poverty. With 14.3% of its citizens impoverished, the US now has the third worst poverty rate of any developed nation.
At the rate we're currently adding jobs in the private sector (67,000 jobs last month), the economy's not even keeping up with new entrants into the workforce (about 100,000 per month). Even if we doubled the rate of private sector job growth, it would take 20 years to get back to where we were before Wall Street crashed the economy. Sure, 67,000 new jobs each month is technically a "recovery," but it's dramatically lower than the employment growth we've seen after other recessions.
Today's NEBR report doesn't change the fact that massive public spending is needed if we are to fix the damage that's been done and become the nation we want to be. That's why 300 economists (a "small army," as the Huffington Post put it) signed a statement warning of the "grave danger" the nation faces if it focuses on reducing the deficit before investing in job creation to get the economy moving again. It's also why Laura Tyson, a respected economist who serves on the President's Council of Economic Advisors, recently wrote that "our national debate about fiscal policy has become skewed, with far too much focus on the deficit and far too little on unemployment."
More must be done to get people back to work. More must be done to rein in the runaway bankers who caused this problem. And we need to make sure people don't confuse "an end to the recession" with "an end to the misery."
By...
Richard (RJ) Eskow
Consultant, Writer, Senior Fellow with The Campaign for America's Future
"Recession officially ended in June 2009," says CNN in a typical headline. The Los Angeles Times headline elaborates: "Recession was longest since the 1930s." While most major outlets worked hard to put the story in context, the word "recession" itself confuses readers. What is a "recession"? And what does the National Bureau of Economic Research (NEBR) mean when it says that a "recession is over," much less that one ended over a year ago?
Too many people, including some who write on economics and public policy, assume the word "recession" means "like a depression, but not as bad." They relate "recession" to "depression" pretty much the same way Aerosmith defines "pink": "It's like red, but not quite." In this vague definition, a "recession" is a period of time in which things pretty much suck, economically speaking, but aren't as bad as they were in the 1930s. When economists say a recession's ended, people who misinterpret the word assume they're saying things have gotten better. But that's not what "recession" means to economists.
The dictionary definition of the word "recession" is "the act of receding or withdrawing," and that's pretty close to the economic definition. Technical definitions can vary, but the NEBR's definition - a time when "a significant decline in economic activity spreads across the economy" - is pretty much the economic standard. In other words, a recession happens when economic activity is "receding." When it stops receding and begins to move forward again - however slowly or inadequately - the recession is over.
An analogy: When the earth stops shaking, seismologists all agree that an earthquake is over. That doesn't change the fact that it's left a lot of wreckage behind.
The damage caused by recessions can sometimes be repaired in large part by improved economic growth, but we're not seeing enough growth (or the right kind) right now. The NEBR's economists took enormous pains to address the ongoing economic wreckage in their announcement today. In making this determination, the announcement said, "the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity." They took note of continued difficulties, especially regarding unemployment.
Despite the NEBR panel's laudable attempt to provide the right context for its report, some people misinterpreted it anyway. Mike Thompson of the Detroit Free Press said this: "Hot off the wires: According to a transmission that planet Earth has just received from the planet where economists dwell, the recession is over! " While Thompson's heart is clearly in the right place - he goes on to describe the ongoing human suffering - the problem here isn't the NEBR. It's the public misinterpretation of the word itself, made worse by the media's failure to provide proper definitions or context.
Matt Phillips of the Wall Street Journal went even further off the beam in an article that begins, "The high-priests of recession dating have spoken." The article goes on:
"Really?," the American public says. "That's funny because we're still pretty miserable." "
Well, that's neither here nor there,' " say the egg-heads on the NBER.
That's just wrong. Phillips does eventually cite the committee's caveat, but not before leaving the impression that the NEBR, rather than his own piece, is confused about what it means to be in a "recession." The WSJ did much better in its news section, where an article was headlined "Recession Over, but Weakness Remains." Other coverage, like Catherine Rampell's in the New York Times and Neil Irwin's in the Washington Post, were equally balanced. Nevertheless, the misunderstandings and misinterpretations will continue as long as coverage of items like the NEBR report don't provide a clear, easy-to-read explanation of the word "recession."
The confusion and misinterpretation extends to the stock market, too. If reports like these are true and the NEBR report caused stock prices to jump - even if only by 1% or so - that should put the lie to belief in 'the wisdom of markets.' That's just dumb. There's no hard information in this report that hasn't been known for a long time. (It's their analysis of that data that's newsworthy.) More importantly, the report isn't an 'all clear' signal. It reads more like a wakeup call about our ailing economy and the possibility of future dangers, observing that this was the longest recession since World War II and leaving the door open to the possibility of another recession.
The biggest danger posed by these misunderstandings is that they will mislead people into thinking things are getting better on their own. We're technically in a "recovery," but that's like saying the flood waters are subsiding after a tidal wave. Millions of lives are still devastated, and the pace of recovery is much too weak to help them in the foreseeable future.
How bad is it out there? There are 4 million fewer wage earners today than there were in 2007, but more and more people are entering the workforce. Long-term unemployment is at record levels. If things don't change, many unemployed Americans over 50 may never work again. Their passport to the American dream will have been permanently revoked.
Young people aren't faring any better. The unemployment rate among people aged 18 to 24 was 18% in August. We're facing the possibility of an entire generation entering the workforce without any jobs available. That's why Derek Thompson, a fine economics writer who also belongs to the twentysomething generation, added this comment to a piece on millenials forced to live with their parents: "We want to work. We want to grow up. We want to have our own jobs and apartments and weddings and baby showers. But many young people cannot do those things right now ... "
Youth unemployment isn't just demoralizing and painful while people are out of work. It can also cripple their lifetime earning ability. That's one reason why the Secretary-General of the OECD called US youth unemployment "a tragedy within a tragedy" and said "there is danger of a frustrated generation." ("There's no future for you," sang the Sex Pistols. "We're the flowers in the dustbin.")
Under-employment is an enormous problem, too. As Arjun Jayadev and Mike Konczal observed, underemployment is up across thirteen different employment sectors. That's one reason why the gap in household earning between white and African American families isn't closing, even though their average hourly wages are closer than they once were.
More economic tragedy: Nearly 44 million Americans live in poverty. With 14.3% of its citizens impoverished, the US now has the third worst poverty rate of any developed nation.
At the rate we're currently adding jobs in the private sector (67,000 jobs last month), the economy's not even keeping up with new entrants into the workforce (about 100,000 per month). Even if we doubled the rate of private sector job growth, it would take 20 years to get back to where we were before Wall Street crashed the economy. Sure, 67,000 new jobs each month is technically a "recovery," but it's dramatically lower than the employment growth we've seen after other recessions.
Today's NEBR report doesn't change the fact that massive public spending is needed if we are to fix the damage that's been done and become the nation we want to be. That's why 300 economists (a "small army," as the Huffington Post put it) signed a statement warning of the "grave danger" the nation faces if it focuses on reducing the deficit before investing in job creation to get the economy moving again. It's also why Laura Tyson, a respected economist who serves on the President's Council of Economic Advisors, recently wrote that "our national debate about fiscal policy has become skewed, with far too much focus on the deficit and far too little on unemployment."
More must be done to get people back to work. More must be done to rein in the runaway bankers who caused this problem. And we need to make sure people don't confuse "an end to the recession" with "an end to the misery."
By...
Richard (RJ) Eskow
Consultant, Writer, Senior Fellow with The Campaign for America's Future
Thursday, September 9, 2010
BLACK + WHITE= CARAMEL BABYYYYYYYYYY!
Iman & David Bowie
The couple married in 1992, but Bowie claims he knew the moment he met the Somalian model, that she was the one. The couple initially met through a mutual friend on a blind date and have been in rock star bliss ever since.
Lil Romeo & Kaitlin Najjar
Both kids have one thing in common—their daddies are paid. Najjar is the daughter of Atlanta real estate developer, Lee Najjar also known as “Big Poppa” by ‘Real Housewife’ Kim Zolciak. Wonder what kinky nickname Kaitlin gives the son of Master P.
Lamar Odom & Khloe Kardashian
After dating each other for a whole full long and hearty month the two married last fall. Since then Odom’s notoriety has skyrocketed and Khloe can now claim the prestigious title of an NBA wife...LMAO....
Luca Orlandi & Oluchi Onweagba
The Victoria’s Secret model and New York City-based fashion designer wed in 2005. Onweagba dated Orlandi for four years before she said “I do.”
Naomi Campbell & Vlad Doronin
While many give Campbell the side-eye for running around with a married man, the international super model is not concerned. Even Doronin’s wife doesn’t seem to be bothered, having met Campbell a few times.
Thursday, July 8, 2010
'Semenya will run in Finland'
Helsinki - South African world 800m champion Caster Semenya will return to competition next Thursday in the Finnish town of Lappeenranta, after an enforced break due to controversial gender tests, her agent said.
"If nothing extraordinary happens she will compete in Lappeenranta," Jukka Harkonen said on Thursday.
"She is suffering from mild 'flu, which is the only thing that could impact it, but we have booked flights and agreed on everything."
Semenya, who was cleared to compete as a woman by the International Association of Athletics Federations (IAAF) on Tuesday, has not run competitively since undergoing gender tests at the Berlin world championships in August.
The Lappeenranta Games will be held on July 15 in the southeastern Finnish town, some 220 kms from the capital Helsinki.
"There are a few small competitions held in July and there is no point to start from a big competition. It better to get competition feeling from smaller ones," Harkonen said, adding that the fact that he was Finnish also had some bearing on the decision.
He said there had been talks about other competitions which Semenya might attend after Lappeenranta, but that no decisions had been made.
Semenya sprang to prominence last year with her rapid improvement over 800 metres. Her winning time in Berlin of one minute 55.45 seconds was the fastest of 2009.
On Wednesday, the 19-year-old South African ran 600 metres in fitness tests to determine if she was ready to compete after the long absence.
Her coach Michael Seme has said Semenya will not compete in the world junior championships in Canada later this month but might run in the African championships, which start on July 28.
Thursday, July 1, 2010
In loving memory of Happiness Gloria Nakajumo.
It is with a lot gratitude in our hearts that we the Nakajumo family, take this opportunity to offer our heartfelt gratitude to all those who were there for us in our time of great distress during the illness until the death of our Beloved Happiness Gloria Nakajumo, a sister to Victoria, Tonny, Anitha and Linda, a sister in law to George, and an Aunt to Allen, Edwin, Tamara,and Seka, a grandmother to Bernadette, Arthur Das and Anthony.
It is hard to mention everyone but our family would like to thank Doctors and Nurses of Aga Khan Hospital, Muhimbili Referral Hospital, and Apollo Hospital in Bangalore India: The Norwegian Embassy,The Munthali's family, Martha Nderimo and Selika Koka and all her friends in Norway, Tanzania, Canada and the United Kingdom,the Students of Bangalore University India, St. Alban's church, Father Msamati relatives and neighbours.
We thank you for spending the gloomy nights with us, the generous contributions, comforting words, messages, flowers and phone calls which were all heart warming. You really proved to be true companions.
"Proverbs 17:17"
Your presence was a great comfort and your assistance lifted a burden off our minds and hands.
"People do not die from us immediately but remain bathed in a sort of aura of life, which beans no relation to true immortality, but through which they continue to occupy our thoughts in the same way as when they were alive. It is as though they have travelled.
There will be a thankgiving mass on Saturday the 3rd of July 2010, at 09hrsoo at St. Alban's Church.
"May the Almighty God rest her soul in eternal peace, Amen"
Thursday, June 24, 2010
8 Rules for Being “Friends With Benefits”
It all starts out simple. You were friends. Then you decided to ‘get busy’. Then you both decide to remain friends and continue to get busy. That’s it…no strings attached. Spooning is OK, but no one is obligated to sleep over. No one has to call the next day to check in. Both of you can even date other people. Simple, no?
“Cuddy buddies”, “FFs”, “friends with benefits (F.W.B.)”– whatever fancy term you give it, there’s never anything simple about it.
Relationships have become increasingly carefree and physical, as women and men are marrying later in life. The boundaries between male/female relationships are less apparent and sex easily slips into the dichotomy. On the surface it makes sense to enjoy sex with someone you can trust, if you both aren’t ready for a serious relationships. But for some strange reason, F.W.B. always turns into a bad situation.
We can’t restrain you from acting on you burning loins, but can give a few tips to avoid an atrocity.
First- REMEMBER you are not his girlfriend or going to become his girlfriend by having sex with him. You are a friend, who is a girl…that’s it. If you go in (no pun, well maybe a little) expecting him to change his mind about your place in his life, you may be disappointed and left feeling like you’ve wasted your time. If you want an emotionally fulfilling relationship, seek out one, don’t try to create one.
Second- If you choose to date other people, understand that they may not be comfortable with your cuddy buddy set up. It may be difficult for them to meet your friends, if your hooking up with one of them.
Third- Don’t sweat the small stuff. All the common relationship courtesy’s don’t apply. He doesn’t have to call. He doesn’t have to meet your other friends. He doesn’t have to mention you to his friends. And foreplay is appreciated, but not required.
Fourth- Don’t become territorial. REMEMBER you are not his girlfriend.
Fifth- Lil Wayne said it best, “don’t get too comfortable”. Unless you’ve created a time chart for how long your special meet ups will take place, they can end abruptly.
Sixth- Be discreet, don’t get too touchy in public and only tell a select number of friends. Once again, if one of you decides to date an outside person they will not appreciate everyone in your circle knowing you two have had relations.
Seventh- Avoid being F.W.B. with a close friend. Hooking up with acquaintances is always an ideal situation because you don’t run into them on a regular basis.
Eighth- Understand your relationship will never be the same again. There’s something about seeing another person naked that changes everything. If you value your relationship platonically, be leery of taking it in another direction. Biologically, sex educes hormones in women that creates a sense of happiness and loyalty that can manifest into emotional attachment. Biologically for men, sex educes hormones that put them to sleep. See the difference
Alexis Jordan Is Jay-Z’s New Girl Next Door
Jay-Z has an eye for talent. Under his guidance he’s ignited the careers of many young artists and Alexis Jordan is next. Roc Nation’s sweetheart recently chatted with Madame Noire about her recent rise to success and upcoming album, Happiness. Her debut single, “Happiness”, recently dropped and went straight to No. 1 of Billboard Magazine’s Dance Airplay chart.
It’s always refreshing to see artists, with actual talent, make it in the industry. Constantly changing, show business may think you’re great one day and wack the next. Luckily, we recognize true talent which is why Jordan is the first of our Madames Rising series where we showcase women making moves in the entertainment industry.
The best part about her: She keeps her clothes on! No need to strut around half-dressed to command attention, her talent stands for itself. And like she said, “I don’t need to be half naked. Men like a little mystery.”
This girl knows her stuff.
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