If you have not read Gilding's Great Disruption please read it…We need to act now and decisively!!

This article by Krugman captures the misdirected policies driven by financial corporate interests…

Financial markets are cheering the deal that emerged from Brussels early Thursday morning. Indeed, relative to what could have happened — an acrimonious failure to agree on anything — the fact that European leaders agreed on something, however vague the details and however inadequate it may prove, is a positive development.

But it’s worth stepping back to look at the larger picture, namely the abject failure of an economic doctrine — a doctrine that has inflicted huge damage both in Europe and in the United States.

The doctrine in question amounts to the assertion that, in the aftermath of a financial crisis, banks must be bailed out but the general public must pay the price. So a crisis brought on by deregulation becomes a reason to move even further to the right; a time of mass unemployment, instead of spurring public efforts to create jobs, becomes an era of austerity, in which government spending and social programs are slashed.

This doctrine was sold both with claims that there was no alternative — that both bailouts and spending cuts were necessary to satisfy financial markets — and with claims that fiscal austerity would actually create jobs. The idea was that spending cuts would make consumers and businesses more confident. And this confidence would supposedly stimulate private spending, more than offsetting the depressing effects of government cutbacks…

The Path Not Taken – NYTimes.com.

By NEIL GENZLINGER

Published: January 28, 2011

A moment of silence, please, for the lost art of shutting up. 

There was a time when you had to earn the right to draft a memoir, by accomplishing something noteworthy or having an extremely unusual experience or being such a brilliant writer that you could turn relatively ordinary occurrences into a snapshot of a broader historical moment. Anyone who didn’t fit one of those categories was obliged to keep quiet. Unremarkable lives went unremarked upon, the way God intended.

But then came our current age of oversharing, and all heck broke loose. These days, if you’re planning to browse the “memoir” listings on Amazon, make sure you’re in a comfortable chair, because that search term produces about 40,000 hits, or 60,000, or 160,000, depending on how you execute it.

Read the full New York Times article

OP-ED CONTRIBUTOR
Why Parents Fear the Needle
By MICHAEL WILLRICH
Published: January 20, 2011

DESPITE overwhelming evidence to the contrary, roughly one in five Americans believes that vaccines cause autism — a disturbing fact that will probably hold true even after the publication this month, in a British medical journal, of a report thoroughly debunking the 1998 paper that began the vaccine-autism scare.

That’s because the public’s underlying fear of vaccines goes much deeper than a single paper. Until officials realize that, and learn how to counter such deep-seated concerns, the paranoia — and the public-health risk it poses — will remain.

The evidence against the original article and its author, a British medical researcher named Andrew Wakefield, is damning. Among other things, he is said to have received payment for his research from a lawyer involved in a suit against a vaccine manufacturer; in response, Britain’s General Medical Council struck him from the medical register last May. As the journal’s editor put it, the assertion that the measles-mumps-rubella vaccine caused autism “was based not on bad science but on a deliberate fraud.”

The article in the New York Times

Gordon Brown warned on Thursday that the world faces youth unemployment of "epidemic proportions", as he urges joint action by the G20 group of developed and developing nations to tackle rising joblessness.

Gordon Brown The Guardian.

January/February 2011 ATLANTIC MAGAZINE The Rise of the New Global Elite F. Scott Fitzgerald was right when he declared the rich different from you and me. But today’s super-rich are also different from yesterday’s: more hardworking and meritocratic, but less connected to the nations that granted them opportunity—and the countrymen they are leaving ever further behind. In the wake of the recession, high-income individuals, large banks, and major corporations have experienced a “significant recovery”; the rest of the economy, by contrast—including small businesses and “a very significant amount of the labor force”—was stuck and still struggling. What we are seeing is not a single economy at all, but rather “fundamentally two separate types of economy,” increasingly distinct and divergent. This diagnosis, though alarming, is hardly unique: drawing attention to the divide between the wealthy and everyone else has long been standard fare on the left. (The idea of “two Americas” was a central theme of John Edwards’s 2004 and 2008 presidential runs.) What made the argument striking in this instance was that it was being offered by none other than the former five-term Federal Reserve Chairman Alan Greenspan: iconic libertarian, preeminent defender of the free market, and (at least until recently) the nation’s foremost devotee of Ayn Rand. When the high priest of capitalism himself is declaring the growth in economic inequality a national crisis, something has gone very, very wrong. This widening gap between the rich and non-rich has been evident for years. In a 2005 report to investors, for instance, three analysts at Citigroup advised that “the World is dividing into two blocs—the Plutonomy and the rest”: In a plutonomy there is no such animal as “the U.S. consumer” or “the UK consumer”, or indeed the “Russian consumer”. There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take. There are the rest, the “non-rich”, the multitudinous many, but only accounting for surprisingly small bites of the national pie.

The Rise of the New Global Elite – The Atlantic.

This article in the New York Times provides an explanation about this apparent contradiction. The following is an excerpt…  

OP-ED CONTRIBUTOR

Bundle Up, It’s Global Warming

By JUDAH COHEN

Published: December 25, 2010

THE earth continues to get warmer, yet it’s feeling a lot colder outside. Over the past few weeks, subzero temperatures in Poland claimed 66 lives; snow arrived in Seattle well before the winter solstice, and fell heavily enough in Minneapolis to make the roof of the Metrodome collapse; and last week blizzards closed Europe’s busiest airports in London and Frankfurt for days, stranding holiday travelers. The snow and record cold have invaded the Eastern United States, with more bad weather predicted.Lexington, Mass. All of this cold was met with perfect comic timing by the release of a World Meteorological Organization report showing that 2010 will probably be among the three warmest years on record, and 2001 through 2010 the warmest decade on record. How can we reconcile this? The not-so-obvious short answer is that the overall warming of the atmosphere is actually creating cold-weather extremes. Last winter, too, was exceptionally snowy and cold across the Eastern United States and Eurasia, as were seven of the previous nine winters. For a more detailed explanation, we must turn our attention to the snow in Siberia. Annual cycles like El Niño/Southern Oscillation, solar variability and global ocean currents cannot account for recent winter cooling. And though it is well documented that the earth’s frozen areas are in retreat, evidence of thinning Arctic sea ice does not explain why the world’s major cities are having colder winters. But one phenomenon that may be significant is the way in which seasonal snow cover has continued to increase even as other frozen areas are shrinking. In the past two decades, snow cover has expanded across the high latitudes of the Northern Hemisphere, especially in Siberia, just north of a series of exceptionally high mountain ranges, including the Himalayas, the Tien Shan and the Altai…  

Read the full op-ed here: http://www.nytimes.com/2010/12/26/opinion/26cohen.html?_r=1

It is a freezing day in the City – 28F or -3C.

Yet, in the spirit of the holiday there were people out on the ice rink at the Rockerfeller Center!   

A gentle reminder that in this season of joy and giving there are still millions of people who go to bed hungry. A fun and simple way to help is to participate in freerice.com and contribute to the World Food Programme… This is what they say about themselves…

FreeRice is a non-profit website run by the United Nations World Food Programme. FreeRice has two goals:

1.  Provide education to everyone for free.

2.  Help end world hunger by providing rice to hungry people for free.

This is made possible by the generosity of the sponsors who advertise on this site. Whether you are CEO of a large corporation or a street child in a poor country, improving your education can improve your life. It is a great investment in yourself. Perhaps even greater is the investment your donated rice makes in hungry human beings, enabling them to function and be productive. Somewhere in the world, a person is eating rice that you helped provide.