Monday, October 13, 2008
Link to his article: Gordon Does Good
What is the nature of the crisis? The details can be insanely complex, but the basics are fairly simple. The bursting of the housing bubble has led to large losses for anyone who bought assets backed by mortgage payments; these losses have left many financial institutions with too much debt and too little capital to provide the credit the economy needs; troubled financial institutions have tried to meet their debts and increase their capital by selling assets, but this has driven asset prices down, reducing their capital even further.
What can be done to stem the crisis? Aid to homeowners, though desirable, can’t prevent large losses on bad loans, and in any case will take effect too slowly to help in the current panic. The natural thing to do, then — and the solution adopted in many previous financial crises — is to deal with the problem of inadequate financial capital by having governments provide financial institutions with more capital in return for a share of ownership.This sort of temporary part-nationalization, which is often referred to as an “equity injection,” is the crisis solution advocated by many economists...."
Saturday, October 04, 2008
The writer's recently published essay on Short Story has indeed invoked that long receded memory of reading his novel all these years ago in a world and time that seems so much distant and different than today's hysterical paranoia filled wind and carefully sowed stench of distrust that eagerly keen to annihilate all the restraints and rules of humanity for the vanquished, conquered and smalls, like Steven Millhauser's observation of distinction between Novel and Short Story: "What the novel cares about is vastness, is power. Deep in its heart, it disdains the short story, which makes do with so little. It has no use for the short story’s austerity, its suppression of appetite, its refusals and renunciations. The novel wants things. It wants territory. It wants the whole world. Perfection is the consolation of those who have nothing else."
What does the Short Story want in this world of "robustness" and "Godzillas"? Here is a fine observation by Martin Dressler's innovator: "The short story concentrates on its grain of sand, in the fierce belief that there — right there, in the palm of its hand — lies the universe. It seeks to know that grain of sand the way a lover seeks to know the face of the beloved. It looks for the moment when the grain of sand reveals its true nature. In that moment of mystic expansion, when the macrocosmic flower bursts from the microcosmic seed, the short story feels its power. It becomes bigger than itself. It becomes bigger than the novel. It becomes as big as the universe."
As big as the universe. In the grain of sand, humanity's accumulated hatred disappears.
Julian Barnes, another brilliant writer of our world, ponders in Nothing to be Frightened Of, "“Wisdom consists partly in not pretending anymore, in discarding artifice. . . . And there is something infinitely touching when an artist, in old age, takes on simplicity. . . . Showing off is part of ambition; but now that we are old, let us have the confidence to speak simply.”
Let us have the confidence to speak simply. Without pretensions. Without holding the disastrous myths.
Thursday, October 02, 2008
- Cheerios made by General Mills.
- Kix and Honey Nut Cheerios, all made by General Mills.
- Life made by Pepsico Inc's Quaker Oats unit.
- Post Golden Crisp made by Kraft Foods Inc
- Kellogg's Honey Smacks
- Kellogg's Corn Pops
- Golden Crisp
- Froot Loops
- Apple Jacks
- Rice Krispies
- Cap'n Crunch
- Cap'n Crunch's Peanut Butter Crunch
Some Cereals more than half sugar