Archive for the ‘Markets’ Category

Daily Office: Tuesday

Tuesday, March 10th, 2009

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¶ Matins: Now that health care reform is back in the news, an aspect of the much-maligned Canadian system ought not to be overlooked.

¶ Lauds: Call it Cats and Rats — or whatever! Just write the book about the buck that stopped with Cai Mingchao, the Chinese dealer who had “second thoughts.” Now he’s having thirds: tears.

¶ Prime: Jean Ruaud went to Hyères, and took a load of great pictures comme d’hab’; but did he see Mrs Wharton’s place?

¶ Tierce: China’s unlucky number: 6521. These are “interesting times.”

¶ Sext: They call this “counter-cultural”? Flash-mob pillow fights irk San Francisco’s Recreation and Park Department. (via Morning News).

¶ Nones: President Obama’s first visit to a Muslim country will take him to Turkey. Great news indeed.

¶ Vespers: Michiko Kakutani’s review of William Cohan’s House of Cards — the Bear, Stearns post-mortem — makes compelling reading in its own right.

¶ Compline: Franchise Christianity? Robert Wright recasts early-Christian history in terms of business models and globalization.

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Daily Office: Thursday

Thursday, March 5th, 2009

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¶ Matins: Second only to Flint, MI as a GM-dependent town, Anderson, IN is piecing itself together with small businesses —

¶ Lauds: The Walker Evans postcard show at the Museum ought to be a permanent installation in the American Wing.

¶ Prime: George Snyder reports on the anxiety of celebrity — direct from Hollywood. (There’s a rapper called “Flo Rida”?)

¶ Tierce: Can anyone tell me what a report on the ideological intransigence of academic economists is doing buried in the Arts/Books section of the Times?

¶ Sext: Did you know that a chunk of asteroid as big as fifty metres missed hitting Sidney by only 60,000 miles the other day? (via Morning News.)

¶ Nones: In news that you probably thought can’t be news, the first rail link between Laos and Thailand (or anywhere) is inaugurated,  crossing the Mekong River.

¶ Vespers: Jeremy Denk hates Joseph O’Neill’s Netherland, calling the author “one of the most gifted writers of boring sentences in the last decade.”

¶ Compline: The new railroad connecting Santa Fe and Albuquerque, unlike the Interstate Highway, will  cut through pueblo lands. Conductors have been asked to request passengers to refrain from drive-by photography.  

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Daily Office: Monday

Monday, March 2nd, 2009

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¶ Matins: In a foreseeable development that few wanted to think about very much, the downside inequalities of European Union constituents threatens to pull the EU apart. Steven Erlanger and Stephen Castle report.

While Western European countries are reluctant, with their own problems both at home and among the countries using the euro, there is a deep interconnectedness in any case. Much of the debt at risk in Eastern Europe is on the books of euro zone banks — especially in Austria and Italy. The same is true for the problems farther afield, in Ukraine.

Having watched the Soviet Union collapse, the countries of Central and Eastern Europe embraced the liberal, capitalist model as the price of integration with Europe. That model is now badly tarnished, and the newer members feel adrift.

¶ Lauds: In the Chicago Tribune, Mike Boehm asks, “Will the Obamas’ interest in the arts create an inflation of appreciation?” The prospect of presidential interest in theatre and dance is so dizzying that he doesn’t stop to ask why it would be a good thing.

¶ Prime: Perhaps you’ve already discovered Look At Me, the Web site of found photographs, but it’s new to me, and I’m checking it out every day. (I’ve linked to a recent posting that shows what has to be an old Howard Johnson’s — looking not so old.)

¶ Tierce: As usual on Monday mornings, I begin with the Times’s Business section, because that’s where the interesting stories are, even if they would fit just as comfortably in the first section, alongside the “regular” news. Two stories today that generate a certain twinned-snakes synergy:

¶ Sext: A party who signs himself “MDL Welder” seeks advice about a romantic “att[achment].” The Non-Expert replies in an odd demotic.

You are very att. To each other. Man we all know that, we can all see it. When you two are passing yes there will be kiss in return, geddit? So obv. Most people wish they were with someone who was so att. To each other. So you say “Do you think she is falling for me?” and all of us here are LOAO because YES YES YES she’s falling for you and she’s already falling so far down you have to reach down and catch up. You need to jump that diving board and triple flip and angle downwards for minimum air resist. She att. You att. To each other. It’s the best way to be, it’s the best way to start. And we say aww.

This drollery has me imagining a novel yet to be written, set, like Then We Came to the End and Personal Days, in the workplace — but not in a very literate workplace.

¶ Nones: I’ll be watching to see how the US press in general and the New York Times in particular cover this story (from the BBC): “Israel ‘plans settlement growth’.”

¶ Vespers: Charles McGrath paves the way for a revival of interest in John Cheever, soon to appear in the Library of America.

¶ Compline: The Infrastructurist lists the top ten hot infrastructure jobs, complete with tips about getting one. For example (“Smart Meter Installer”):

There are 150 million electric meters in the US. About 90 percent of them are “dumb.” Obama has offered a plan to upgrade 40 million of the meters, but eventually they will probably all be replaced. Some utilities are well under way: PG&E in California is putting in 10.3 million smart meters, while Oncor in Texas is planning to install 3 million in the next four years.

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Daily Office: Wednesday

Wednesday, February 25th, 2009

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¶ Matins: Although I haven’t parsed President Obama’s joint-session speech, I hail his fundamental premise:

Now is the time to act boldly and wisely — to not only revive this economy, but to build a new foundation for lasting prosperity. Now is the time to jumpstart job creation, re-start lending, and invest in areas like energy, health care, and education that will grow our economy, even as we make hard choices to bring our deficit down. That is what my economic agenda is designed to do, and that is what I’d like to talk to you about tonight.

It’s an agenda that begins with jobs.

¶ Lauds: Having heard Sondra Radvanovsky sing “D’amor sull’ali rosee” tonight, “I can die,” as Wagner said after writing Tannhäuser. Spinning miraculous pianissimi may not be the singer’s strongest suit — hey, she’s not bad at it, by any means — but her legato is some kind of national treasure, seamlessly winding through a bewitchment of tones and registers in a perfect marriage of judgment and control. 

¶ Prime: Scout captures an installation on West 23rd. Man jumps from ledge!

¶ Tierce: The L train, which connects Chelsea with Canarsie in the only way imaginable — literally — will be operated by computer from now on. Whatever that means.

¶ Sext: It’s interesting that Farhad Manjoo looks back specifically at 1996 in his “Jurassic Web” piece at Slate. That’s when I logged on.

¶ Nones: How about abandoning the War on Drugs and diverting those resources to a War on Weapons. We might even be able to make a difference. How many Monzer al-Kassars can there be?

¶ Vespers: Michiko Kakutani hates Jonathan Littell’s The Kindly Ones.

Indeed, the nearly 1,000-page-long novel reads as if the memoirs of the Auschwitz commandant Rudolf Höss had been rewritten by a bad imitator of Genet and de Sade…

¶ Compline: Watch for Dating For (Broke) Dummies. Market for Romance Goes From Bullish to Sheepish.”

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Daily Office: Tuesday

Tuesday, February 24th, 2009

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¶ Matins: For many of us, it’s not happening fast enough — but it is happening. “Call to relax Guantanamo regime.”

A US defence department review of conditions at Guantanamo Bay detention camp has called for an easing of the isolation of prisoners there.

The Pentagon report says inmates should be allowed more social interaction and opportunities for recreation.

¶ Lauds: How bad can things be, if the Saint Laurent auction brought in $264 million — on the first night!

¶ Prime: An intriguing graphic from GOOD Blog: trackage/ridership of the top five US/top five global subway systems. While New York’s system is by far the longest in terms of miles, and its ridership is several times larger than other American cities by a factor of five or more, ridership in Tokyo, Moscow and Seoul is considerably greater. (via Infrastructurist)

¶ Tierce: From the Dept of Schadenfreude: “Nearly 75% of ex-Bush officials looking for jobs are unemployed.” (via Koreanish).

¶ Sext: Rachel Getting Married meets Donald Barthelme: Frank Ferri’s “My Ideas For Staged Photos Set Me Apart From Other Wedding Photographers.” (via Morning News)

¶ Nones: In the absence of a truly interesting story from the global news network, we bring you the following dog’s tea, with contributions from Sweden, the UK, Japan, and — inevitably — Zimbabwe.

¶ Vespers: Ian McEwan’s tribute to John Updike may be just what we’ve been waiting to read; but, if you ask me, it’s too nice.

And now this masterly blasphemer, whose literary schemes and pretty conceits touched at points on the Shakespearean, is gone, and American letters, deprived in recent years of its giants, Bellow and Mailer, is a leveled plain, with one solitary peak guarded by Roth. We are coming to the end of the golden age of the American novel in the twentieth century’s second half.

Mighty praise, but for accomplishments rather too precisely detailed.

¶ Compline: When I think of the impact of dodgy finances on airline safety, I think of maintenance, but Captain Sullenberger’s testimony before Congress introduces a new worry — or, rather, confirms a worry that was introduced by last week’s crash in Buffalo. (more…)

Daily Office: Monday

Monday, February 23rd, 2009

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¶ Matins: Lest Academy Aware euphoria inspire forgetfulness, let’s travel to another part of California: the sad town of Perris, where Lawrence Downes finds a the housing crisis in a nutshell.

Perris was essentially a company town for corporate home builders. Now parts are a living foreclosure museum, with subdivisions tracing the staggering arc of boom and bust. Some still gleam. Others lie stained and rotting in the desert sun. And some, like Mountain View, are frozen, half-built: accidental monuments to mass delusion.

¶ Lauds: Time joins the chorus of media neurotics who want popular movies to be nominated for Academy Awards. This has got to be the final rejection of Boomer values.

¶ Prime: And here I thought I’d already posted links to Jean Ruaud’s new photoblog, beware, wet paint! In the Daily Office, I mean.

¶ Tierce: Timothy M Dolan, Archbishop of Milwaukee, will be coming to St Patrick’s. At first glance, he seems to be about as good a choice as one could hope for. (Like our Federal courts, the Catholic hierarchy has been packed with conservatives who will persist despite liberalizing trends.)

¶ Sext: There’s a witty French movie to be made from this story . . .

¶ Nones: Just as one thought, people all over India are watching shows about Slumdog Millionaire on televisions, just as, in the movie itself, they’re shown watching Who Wants To Be A Millionaire?

¶ Vespers: If you’re feeling a bit tired and beleaguered, worried that the world will still be here tomorrow, then you probably won’t take much comfort from Kate Kellaway’s manifesto (disguised as a news article) in the Guardian: “‘A whole library in wafer-lhin form’.”

This may be the last year in which it is possible to be ebook or mbook (of which more later) illiterate. We in the UK are on the verge of extraordinary changes in the way we read, think about narrative and define the book itself. Already the US and Japan are chapters ahead of us (the UK is a relatively timid, conservative bookworm). This month sees the US launch of Amazon’s Kindle 2 (a refined version of the handheld ebook as yet unavailable here) which will eventually make it possible for book victims like me to put down our heavy bags of books and trip lightly into the future with a whole library contained in a wafer-like, wireless form.

¶ Compline: From time to time, I express my opinion that artificial persons (ie corporations) ought not to be allowed to own intellectual property. I have a number of reasons for this radical idea, but here’s a very clear one. Oxford physicist Joshua Silver has invented $19 eyeglasses for the world’s poor; he’s hoping to bring the price down.

Silver said there has been some resistance from the eyewear industry. Years ago, one vision company offered a “substantial amount of money” to him if he sold them his technology, but Silver said he declined because he had no assurance that it would be used to bring low-cost glasses to the poor.

How stupid did they think an Oxford scientist would be?
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Daily Office: Wednesday

Wednesday, February 18th, 2009

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¶ Matins: For what it’s worth, I support the mortgage bailout that President Obama is expected to unveil in Phoenix later today. Helping those who can’t afford to pay their mortgages is the right thing to do. Helping homeowners whose mortgages are simply “underwater” — worth more than the home’s likely sales price — is a different problem that ought to be addressed in some other way, and not right now.

¶ Lauds: The whole town’s talking — or so it seems — about Trovatore at the Metropolitan Opera, with the one (1) singer who has ever given me pleasure in an opera house, Sondra Radvanovsky. Steve Smith gave the show such an enthusiastic review that I had to get a ticket. 

¶ Prime:  No Sh*t, Please; We’re British: R*tard Rids Reptile Researcher’s Reserves of Reclusive Retrosaur’s Refuse. Okay, I made up “retrosaur.” But it’s pretty cool as neologisms go, don’t you think? In case you’re wondering what it means, a “retrosaur” is a lizard that everyone thought was extinct — which is what this exceedingly English story is all about.  (via Brainiac)

¶ Tierce: More good news from Washington: stepped-up merger scrutiny, and this time with brains. Rob Cox reports.

But there is a growing movement in the antitrust community to challenge this rational choice theory of neoclassical economics in favor of behavioral economics. Under this school of thought — loudly espoused by Obama’s chief economic adviser, Lawrence H. Summers — economists examine how real people actually make decisions.

Applying behavioral economics to antitrust “risks expanding the scope of agency review to transactions that were previously unassailable,” two lawyers with Skadden Arps, Neal R. Stoll and Shepard Goldfein, wrote in The New York Law Journal last month. It would, among other changes, require the retention of psychologists alongside the economists, marketers and industry experts currently reviewing deals.

¶ Sext: Does anyone remember Lady Fanny of Omaha? (The great Barbara Harris, in Dirty Rotten Scoundrels.) Now we have Robert Allen Stanford, Texan financier and alleged swindler, dubbed Sir Allen by the government of Antigua in gratitude for his benefactions, which ranged from cleaning up the state balance sheets to sponsoring a cricket league.  

In Texas, Robert Allen Stanford was just another wealthy financier.

But in the breezy money haven of Antigua, he was lord of an influential financial fief, decorated with a knighthood, courted by government officials and basking in the spotlight of sports and charity events on which he generously showered his fortune.

I know that it’s silly, but I already think of him as “Sir Allen of Obama.”

¶ Nones: The crucifix crisis has flared up in Italy again. A teacher has been sacked for removing the (non-compulsory) crucifix from his classroom, and the supreme court has let stand the conviction of  Jewish judge who refused to serve in a courtroom adorned with a cross.

¶ Vespers: In a classic case of the deadly short-circuiting that can occur when book publishers have other interests — as, being components in media empires these days, they all do — Brian, at Survival of the Book, comments on Barry Ritholtz’s problems with McGraw-Hill, which didn’t like what he had to say about Standard & Poor’s, a McGraw-Hill property.

It’s also interesting to note yet another example of an author going right online with his case, and with a whole lot of material, to prove his innocence. On this post, he includes revised versions of pieces of the manuscript and footnotes, all of which he has every right to post. He’s making the case the he himself did not expose this story to the media but now that it’s out there, he can explain himself and his position as an author at a massive corporate publisher. As more such cases emerge and more authors speak out and get attention for it, perhaps publishers will work more in partnership with authors rather than seeing them as disposable manufacturers churning out products they depend on. As authors are expected to do more marketing, more publicity, more leg work all around on behalf of their books, then publishers must also know that they are armed with tools to broadcast their complaints.

¶ Compline: Now, this is fun: in a new Pew poll, respondents were asked if they were happy where they lived or if they’d like to move.

Seven-in-ten rural men are content where they are, compared with just half of rural women.

Hmmm . . . how mysterious! (via Snarkmarket)

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Daily Office: Thursday

Thursday, February 12th, 2009

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¶ Matins: Good news on the international justice front:

Judges at the International Criminal Court have decided to issue an arrest warrant for President Omar Hassan al-Bashir of Sudan, brushing aside diplomatic requests to allow more time for peace negotiations in the conflict-riddled Darfur region of his country, according to court lawyers and diplomats.

¶ Lauds: What do you think? Does support from dodgy, possibly criminal corporations corrupt the arts that they subsidize? Tom Service, at the Guardian, certainly thinks so.

How can the art made at festivals sponsored by these bankrupt individuals and companies do the job that classical music should do, and have a necessary, critical voice in contemporary culture, if it continues to be supported by the dead hand of big banking?

¶ Prime: Eric Patton celebrates the Darwin bicentennial by turning to The Pillow Book — not Peter Greenaway’s film so much as Sei Shonagon’s book — at SORE AFRAID. What on earth has the one got to do with the other? Having scrolled through Eric’s photographic lists, one will find Darwin’s conclusion all the more immanently enlightened.

I cannot pretend to throw the least light on such abstruse problems. The mystery of the beginning of all things is insoluble by us; and I for one must be content to remain an Agnostic.

¶ Tierce: Personality clash or whistleblowing? “You decide.” Either way, Sir James Crosby, who fired an evident whistleblower when he ran the now-ailing HBOS, has had to resign as Britain’s deputy chairman of the Financial Services Authority.

¶ Sext: We take you now from the buttoned-down elitism of The Daily Blague to Belfast, Maine, where a trust fund baby from California who collected Hitler’s silverware was found, after having been shot dead by his wife, Amber, to have been stockpiling the raw materials for a dirty nuclear bomb! (Thanks Alexander Chee!)

¶ Nones: Isn’t it amazing? In a mere half-century, we have cluttered inner space with tons and tons of junk. Two items crashed on Tuesday.

But experts now see another potential threat. Richard Crowther explained: “Unique to the Iridium system is that all the remaining 65 satellites in the constellation pass through the same region of space – at the poles.

“So the debris cloud that is forming as a result of the Iridium satellite breakup will present a debris torus of high (spatial) density at 90 degrees to the equator that all the surviving Iridium satellites will need to pass through.”

Intact satellites share Earth’s orbit with everything from spent rocket stages and spacecraft wreckage to paint flakes and dust.

The diffuse mist of junk around our planet is the legacy of 51 years of human activity in space.

¶ Vespers: Valerie Martin has a little list: six great novels about doomed marriages. Before peeking, make your own list. Okay, now you can look.

¶ Compline: An amusingly ambiguous map from newgeography: American states that people don’t leave? Or states that they don’t move to? (via Brainiac)

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Daily Office: Wednesday

Wednesday, February 11th, 2009

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¶ Matins: So manypeople still don’t get it: the important thing right now is to do something, and then, maybe, something else. Waiting to get it right is the only guarantee of disaster. The Obama/Geithner plan faces a “brutally negative” response.

¶ Lauds: I read it at Classical Convert first: Muzak has declared bankruptcy.

¶ Prime: So, you’re going through the attic, convinced that it’s full of treasures. Sadly, you’re probably in the The Trough of No Value. Saving those “collectibles” always requires more patience than you think it will. (via kottke.org)

¶ Tierce: Now that the Obama Administration is re-directing American focus to Afghanistan, the sub-sovereign creation of British mapmakers is metastatsizing from a sorry mess to the new Vietnam. Uh-oh!

The attacks in the capital underlined the severity of the challenge facing American policy-makers who have declared the war in Afghanistan a high priority for the new administration in Washington and who plan to almost double American troop levels with the deployment of some 30,000 additional soldiers.

¶ Sext: What happened at The New School? Put it another way: why does Bob Kerrey stay on as President when he is so massively unpopular with the faculty? What is he thinking?

¶ Nones: Trouble in Paradise Azerbaijan. For the first time since 1994, a “high-ranking” Azerbaijani military officer, Air Force leader Lt-Gen Rail Rzayev has been shot dead.

¶ Vespers: Steven Moore reviews Tracy Daugherty’s new biography of Donald Barthelme, whose student Daugherty was in the Eighties: Hiding Man. (via Emdashes) 

¶ Compline: Something very interesting and beautiful to look at before you go to bed: Scintillation, a short film by Xavier Chassaing (at Snarkmarket).

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Daily Office: Tuesday

Tuesday, February 10th, 2009

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¶ Matins: Much as I hate to anticipate good news that might not pan out, I can’t help being excited by the prospect of an end to the infamous Rockefeller Drug Laws.

¶ Lauds: Months before its scheduled opening, the Mandarin Oriental Beijing has been destroyed by fire — one of the Chinese capital’s Olympic-era trophies, designed by Rem Koolhaas.

¶ Prime: Brian Stephenson, at Five Branch Tree, writes about fell0w poet August Kleinzahler, whose work appears regularly in the London Review of Books.

His other techniques are quite American, such as the incorporation of both high and low culture, the symbolic use of pop figures, real and imaginary characters, travel, temporality, displacement and nostalgia. And despite being a native of New Jersey and a long time resident of San Francisco, these poems are particularly American with respect to the experience of the immigrant. Not ‘immigrant’ as a sociological study, but as one of the working myths in American arts and culture.

¶ Tierce: I was thinking that 2009 would be the Year of the Kindle for me, but now I’m not so sure. Amazon has just introduced Kindle 2, a great improvement over the original device in many ways, but also a harbinger of roiling format wars with Google and Apple. So I’ll probably sit out the wait for an emergent standard.

¶ Sext: What’s really cute about Kirk Johnson’s story about the “Hitch,” the souped-up motel in Cheyenne, Wyoming that has served as a kind of tree-house for state legislators is the non-appearance of “woman,” “women,” and “female.”

And the Hitch, as lawmakers came to call it, in turn became more than just a hotel. It insinuated itself into how the State Legislature worked by creating an informal space where lawmakers in their socks, sometimes with a highball in hand, could wander down the hall and knock on the door of a neighbor and talk through the day.

¶ Nones: Recep Tayyip ErdoÄŸan’s stalking out of a debate with Shimon Peres at Davos has the diplomats’ heads shaking: the man is “erratic.”

Mr Erdogan’s temper tantrums are not new. But they used to be reserved for his critics at home. The Davos affair, says another foreign diplomat, is further evidence of “Mr Erdogan’s conviction that the West needs Turkey more than Turkey needs it.” It is of a piece with Mr Erdogan’s threat to back out of the much-touted Nabucco pipeline to carry gas from the Caspian Sea to Europe via Turkey. In Brussels recently Mr Erdogan said that, if there were no progress on the energy chapter of Turkey’s EU accession talks then “we would of course review our position”. Meanwhile, Turkey sided with Saudi Arabia and the Vatican in opposing a UN statement suggested by the EU to call for the global decriminalisation of homosexuality.

¶ Vespers: Patrick Kurp writes about the only leading economic indicator that bibliophiles need to be acquainted with.

After completing my rounds, I checked back with Angel who made me an offer: $15.50. I was parting with the most books I had ever sold to Half-Price Books and was, in return, receiving the smallest amount of cash. I took it, silently. I didn’t feel like repacking two boxes, carrying them back to the car and explaining why to my wife. I would have felt like Jack telling his mother about the magic beans, which I did anyway. Angel said, “Everybody’s selling books. They need the money. We can’t afford to pay ’em as much.” The supply and demand of used books: my first economic indicator.

¶ Compline: Scout captures some great keystone demons, only to discover that they’re green men.

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Daily Office: Monday

Monday, February 9th, 2009

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¶ Matins: Is it taking Frank Rich longer than necessary to reset his outrage gauge, even though the new administrations failings and disappointments are barely venial by comparison to those of the old?

The tsunami of populist rage coursing through America is bigger than Daschle’s overdue tax bill, bigger than John Thain’s trash can, bigger than any bailed-out C.E.O.’s bonus. It’s even bigger than the Obama phenomenon itself. It could maim the president’s best-laid plans and what remains of our economy if he doesn’t get in front of the mounting public anger.

¶ Lauds: Chinese Tags, from the Kwan Yin Clan in Beijing. At first, you may not even seen the graffiti-inspired spray paintings; they blend right in with the traditional scroll art. (via Tomorrow Museum).

¶ Prime: Maud Newton contributes to the online extension of the Granta issue on fathers. Upbeat tone nothwithstanding, it’s one of the saddest things that I’ve ever read. But then, I’m a father.

¶ Tierce: Eluana Enlargo, in a coma since 1992, is about to be let go . . .  or is she?

¶ Sext: James Surowiecki talks. On Colbert. And now I have to stop referring to him as “James Soor-oh-vyetsky.”

¶ Nones: Slumdog Millionaire — but without the ‘millionaire’ part. Meet Rewa Ram, as Rupa Jha reports on the sewer cleaners of Delhi.

¶ Vespers: I can’t remember where I came across the recommendation in the Blogosphere, but somebody said that Maria Semple’s This One Is Mine is a smart novel, so I bought, and I’m reading it, and — I don’t know why, really — I’m finding it really, really depressing. It isn’t the novel, I don’t think. It’s Los Angeles.

Anyway, Maria Semple talks to Marshal Zeringue, of Campaign for the American Reader, about her work. She’s not depressing.

¶ Compline: Plenary indulgences . . . How is the Catholic Church like the Bourbon Dynasty? Paul Vitello reports.

Like the Latin Mass and meatless Fridays, the indulgence was one of the traditions decoupled from mainstream Catholic practice in the 1960s by the Second Vatican Council, the gathering of bishops that set a new tone of simplicity and informality for the church. Its revival has been viewed as part of a conservative resurgence that has brought some quiet changes and some highly controversial ones, like Pope Benedict XVI’s recent decision to lift the excommunications of four schismatic bishops who reject the council’s reforms.

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Daily Office: Thursday

Thursday, February 5th, 2009

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¶ Matins: Fasten your seatbelts and get ready for Uncle Niall. This time, “Be Afraid, Be Very Afraid” really means what it says. A tsunami of economic disarray is barreling toward the ship of state. Unlike the pooh-bahs in Washington, Professor Ferguson believes that the ship is at present upside-down, rather like the SS Poseidon you might say, and that trying to borrow our way out of the problem à la Keynes is rather like what “climbing” for the boat deck was in that disaster.

¶ Lauds: The 25 Random Things meme (see below) is one thing; the truly daring will be sending their Facebook portraits to Matt Held to have them painted (possibly) and exhibited in all their unflattering glory. (via ArtFagCity)

¶ Prime: I never miss a chance to rejoice that I’ve lived into a new epistolary age; when I was younger, people didn’t answer my letters because they were “intimidated.” The 25 Random Things meme, however, is something altogether and delightfully new. Memes like it have been circulating for “ages,” but something about the Facebook tag has prompted a lot of scribbling — 35,700 pages of randomness. Douglas Quenqua reports — without saying a thing about himself!

¶ Tierce: Learning about the Bacon Explosion in the pages of The New York Times — and not on the Internet — was bad enough. Discovering the frabjilliant Web log of Sandro Magister there is really the limit!

¶ Sext: A fantastic slideshow: The End — or words to that effect. Repeat 189x. Brought to you by Dill Pixels.

¶ Nones: The last thing China needs right now is a major drought, but that’s what’s afflicting the north-central, wheat-growing provinces.

¶ Vespers: Sheila Heti interviews Mary Gaitskell for The Believer.

¶ Compline: Something to chew on over the weekend: where both quantity and quality of work are measurable, as, say, in academia, is the childless candidate for a position intrinsicially preferably to the parent? Ingrid Robeyns kicked off the debate at Crooked Timber. (via Brainiac)

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Daily Office: Tuesday

Tuesday, February 3rd, 2009

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¶ Matins: Eric Holder has been confirmed by the Senate. It was grand to weigh and consider Republican opposition to his nomination, which seemed to stem from his participation in the pardon of Marc Rich, one of those dead-of-night doings at the fin de Billsiècle. Not really comparable to the shenanigans of Alberto the Goon.

¶ Lauds: What they ought to have done: close the university and keep the museum open. The dollars and sense point in that direction. The Brandeis trustees who approved the liquidation of the Rose Art Museum ought to be tarred and feathered — and then blinded.

¶ Prime: Joanne McNeil writes about Internet 2.0, at Tomorrow Museum, as if she had always lived there.  

If I were to log into Friendster today I would see a perfectly preserved document of my life in 2003. The people I was friends with then (most of them, sadly, I’m no longer in touch with) and the inside jokes we shared, not to mention the photos of me at that age. It makes me really want to not log in or log in and destroy it all. That’s almost too many memories worth keeping and for someone who prefers to think about life in the present rather than relive past experiences in my mind, it’s just baggage.

¶ Tierce: A good idea was proposed at Davos, of all places: pay the regulators! The source of the proposition is not surprising:

Tony Tan Keng Yam, deputy chairman and executive director of the Government of Singapore Investment Corporation, suggested that one reason American regulators fell down on the job was that they were paid too little.

Adam Ross Sorkin reports.

¶ Sext: I was going to link to John McPhee’s rather priceless account of his dealings with the formidable fact-checkers at The New Yorker, but access is limited to subscribers. (Don’t miss it; if nothing else, it will teach you the meaning of the important caveat, “on author.”) Instead, this year’s alternative Tilleys.

¶ Nones: Edward Wong files a chilling look at how the Chinese government abuses legal processes to silence dissidents: the [latest] Case of Huang Qi.

¶ Vespers: Delinquent as usual, I haven’t yet got round to writing up Malcolm Gladwell’s Outliers, which I found to be a very important re-think. Now comes Isaac Chotiner, with a tendentious and skewed misreading of the book, full of snark and sneering (in The New Republic, natch). Nothing could be more wearying than rebutting the piece, and this is not the place to have any kind of thoroughgoing go at it, but one paragraph is all I need for the moment.

¶ Compline: Harry Markopolos, the investor’s advocate who blew enough whistles about Bernard Madoff to simulate Beethoven’s Ninth (except nobody listened), is no longer out sick. But he claims that he was afraid for his life.

He and his colleagues avoided taking their allegations to the industry self-regulatory agency, now called Finra, he said in the statement, because he believed Mr. Madoff and his brother, Peter B. Madoff, wielded too much power with that organization. Peter Madoff worked in his brother’s firm but has not been implicated in the apparent fraud.

“We were concerned that we would have tipped off the target too directly and exposed ourselves to great harm,” he wrote.

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Daily Office: Thursday

Thursday, January 22nd, 2009

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¶ Matins: Setting aside, for the nonce, dreams of Camelot restored, let us peer deeper into history, with Russell Baker as our guide.

The blooming of literature about the Hundred Days probably has a lot to do with Barack Obama’s assuming the presidency at a moment of economic breakdown just as Roosevelt did seventy-six years ago. Parallels like this are hard for historians and journalists to resist. Could history be repeating itself? It never does, of course. Still, there are similarities too interesting to be discarded without a glance.

¶ Lauds: Carnegie Hall announces its first “recessional” season.
The Kronos Quartet, China, Papa Haydn, Louis Andriessen, and a Polish double bill: the Chopin bicentennial and a Szymanowski festival. Interesting!

¶ Prime: A young man who used to live in Chinatown — I knew him then — has relocated to a great university in the West, where the ghosts of Mmes Child and Fisher have inspired him (apparently) to take up cooking. I shall refer to him as “Deipnosophistos” — the Learned Banqueter — in honor of his new Web log, which demonstrates that classics scholars may indeed know more about leftovers than the rest of us. We’ll call him “Deep” for short.

¶ Tierce: Will Richard Parsons be as good for Citigroup as he was for TimeWarner? Let’s hope so. For starters, he looks like the best possible choice.

¶ Sext: Alexander Chee’s extensive quotation from the Goncourt diaries at Koreanish today makes me resolve to be a better person by remembering who the hell Princesse Mathilde was!

¶ Nones: Inevitable, I suppose: In the wake of the success of Slumdog Millionaire, an organization called Realty Tours & Travel offers 4½ hour, £12 tours of Dharavi, “the biggest slum in Asia,” on the north side of Mumbai. Nigel Richardson reports in the Telegraph.  

¶ Vespers: Yet another story about changes in publishing, this one, augustly, from Time.

¶ Compline: Can you believe it? They’re still arguing about textbook evolution in Texas.

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Daily Office: Thursday

Thursday, January 15th, 2009

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¶ Matins: Among the phrases that we’re going to retire for at least a few years, alongside “personal responsibility,” let’s hope that “ownership society” finds a place. It was nothing but code for the enrichment of mortgagebaggers.

Who, like the viruses that they so closely resemble, have found a new line of weakness.

¶ Lauds: At dinner tonight, Kathleen asked me if I’d known about Peanuts and the Beethoven scores. Well, er, yes! But so what? I was never a Peanuts fan. Especially when I was a kid.

¶ Prime: Here is a blog — The Art of Manliness — that I came across during the recent Weblog beauty pageant. I agree with almost everything it says, until author Brett McKay assumes that I know what to do with duct tape. Which, in all fairness, I must confess that he doesn’t. (He might try to teach me, though.)

¶ Tierce: Here’s a story that took a while to appear, at least on my radar screen: How much did she know, when did she know it, and how much is hers? The Ruth Madoff Story. (Part 1/1000)

¶ Sext: Gail Collins says it all in a few words:

I think I speak for the entire nation when I say that the way this transition has been dragging on, even yesterday does not seem like yesterday. And the last time George W. Bush did not factor into our lives feels like around 1066.

¶ Nones: Can this really be happening (Good News Department!)? A clip from BBC World News: three-ton T-walls are coming down in Iraq, no longer needed.

¶ Vespers: No sooner do I begin to digest the news that a new Kate Christensen novel is on the way than I open Harper’s and find a story by Joseph O’Neill!

¶ Compline: Here’s hoping that the pilots and crew of US Air Flight 1549, captained by C B “Sully” Sullenberger, will be able to honor the city with a tickertape parade.

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Daily Office: Wednesday

Wednesday, January 14th, 2009

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¶ Matins: Wei Jingsheng, twice-imprisoned Chinese dissident and winner of the Sakharov and Kennedy prizes, sees nothing less than collapse in his country’s future, if it does not offer ordinary Chinese a version of the New Deal.

¶ Lauds: Google Earth presents Fine Art: a dozen-odd masterpieces from the Prado in thread-count detail.

¶ Prime: To avoid the worst of post-holiday slump, I’ve been repairing to Café Muscato for refreshment. For witty ribaldry (glossing over-the-top images), Muscato can’t be beat.

¶ Tierce: Living in Manhattan means encountering neighborhood bulletins from Times to Times. This morning, in an article by Alex Tarquino that I almost skipped, “More Manhattan Shop Windows Are Expected to Be Empty This Year” — this is news? — I read that the Barnes & Noble branch that’s catercorner from my house is going to “move around the corner,” presumably into the new Brompton apartment building (the one designed by Robert A M Stern).

¶ Sext: As Alexander Pope demonstrated a while back (with Peri Bathos, or the Art of Sinking in Poetry), the quickest recipe for a fun read is to parody a how-to book by replacing the exemplary extracts with total trash. Jason Roeder revisits a much-loved usage manual with The Elements of Spam, at McSweeney’s.

¶ Nones: In Riga, a peaceful demonstration against the government’s economic policies got riotous, when a bunch of drunk young men attacked the parliament building.

¶ Vespers: For some time now, Jason Epstein has looked like the only book person out there who knows (a) what’s wrong with publishing and (b) how to fix it. His latest exhortation — elegant and brief as always — appears at The Daily Beast.

¶ Compline: From Joan Didion, an acerbic reminder to those who, in their excitement about an inauguration that is ripe with historical momentousness, have forgotten (as I am sure that Barack Obama himself has not) our absurd expectations of dancing in the streets in Baghdad, nearly six years ago…

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Daily Office: Tuesday

Tuesday, January 13th, 2009

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¶ Matins: If you want to know why the Times may have to cease publication in May, you need read just this one story about the closing of Guantánamo, which makes sense on only a minimal level. Money aside, the newspaper is incapable of presenting a complex story in three paragraphs. And what else are newspapers for?

¶ Lauds: The stupidest prediction that I’ve read in the past ten minutes (I hate to exaggerate):

Initial predictions by some art investors last year that oil-rich Arab countries, Russia, India and China would continue to spend on art, even as the United States and much of Western Europe stumbled into a recession, proved too optimistic.

Once upon a time, one might have made a remark like this about Japan. Japan could be counted upon to go on buying paintings by Nattier and subscribing to the Neue Mozart Ausgabe no matter what was going on in the European economies.

¶ Prime: After a long absence, V X Sterne is back at Outer Life. Now that the economy is bound for hell in a handbasket, our favorite Californian capitalist is feeling much better.

¶ Tierce: Sarah Palin complains about a class divide in America, with self-proving assertions. There is an élite class in this country, identifiable by its ability to speak clear, articulate English. Ms Palin, on the other hand, speaks what can only be called Ramshackle.

¶ Sext: At last! We’ll be able to drive to Europe. (Via well-spaced aircraft carriers.)

¶ Nones: A “respected coalition” of British Jewish leaders has issued a letter calling for an Israeli ceasefire in Gaza.

¶ Vespers: Remember “writer’s block”? You’re right, I wonder what happened to it, too. Polly Frost waxes nostalgic — and she has a plan!

¶ Compline: Prince Harry is back in the news. Boy, this kid just doesn’t get it! Anybody who thinks that he’s really “third in line” for the English throne — or even nth — must be living in a tea cosy.

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Daily Office: Thursday

Thursday, January 8th, 2009

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¶ Matins: It’s as though everyone decided to spend the holidays pretending that things were fine: now that we’re back in the real world, the disasters just pile up like planes over O’Hare. “China Losing Taste for Debt From the U.S.

¶ Lauds: Once upon a time, the Germans copied the French: Imperial princelings replicated, to the extent that their incomes would allow, Louis XIV’s country house (and stealth capitol) at Versailles. Now the Germans have taken the initiative, and the French are just watching.

¶ Prime: The (only) good thing about Web log awards is the chance to discover sites that you haven’t heard about. I don’t remember the category in which I came across Dizzying Intellect — the categories are utterly spurious in any case — but it doesn’t matter, because I found it.

¶ Tierce: Too big to filch? Bernard Madoff has been making unauthorized distributions of assets, according to prosecutors. His attorneys claim that the Cartier watches are relatively inexpensive sentimental items that Mr Madoff would like his family to have. In the dictionary, under the word “chutzpah”…. Alex Berenson reports.

 ¶ Sext: The thing to note about developer Fred Milani — if you can get beyond the House — is that he is “not very political.” Exactly! No politically-minded person would erect a scaled-down adaptation — “replica” is not the word — of the “President’s House.” The politically-minded person would be interested only in the real thing. And that’s not all…

¶ Nones: Trying to find an update on the violence in Greece that the Times reported the other day — it’s coverage, dismayingly, is better than that of the English papers that I’ve checked, as well as the BBC’s — I discover that the Turkish government has rounded up a bunch of secularist critics and accused them of fomenting a plot. This story does come from the BBC.

¶ Vespers: I’ve done just about nothing today but read Brian Morton’s first novel, The Dylanist. Published in 1991, this is a novel to dust off and re-read in the Age of Obama, not so much for any specific political alignment as for its portraits of people who are too richly principled for cynicism.

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Daily Office: Friday

Friday, December 26th, 2008

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¶ Matins: Oh! It’s China’s fault! “China, some economists say, lulled American consumers, and their leaders, into complacency about their spendthrift ways.” This is the moral equivalent of blaming the gin and vermouth for not being a fountain of youth.

You have to love the story, though, because it preserves a founding American myth: the people of our fine country are guileless rubes in a world of wicked con men.

¶ Vespers: Here’s a great idea: revoke Robert Merton’s Nobel Prize. Remember LTCM? That was his plane crash.

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Daily Office: Tuesday

Tuesday, December 23rd, 2008

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¶ Matins: I wish I were still in law school! I wish I were that young. Then, the idea that Bush v Gore is a precedent-laden decision would have intrigued me.

¶ Sext: How could they do it? That’s what everybody I know is talking about. How could they give all their money to Bernie Madoff? They begged him to invest it for them, dazzled partly, it’s true, by the fantastic returns that he boasted; but dazzled to the point of blindness by his reluctance to take their money. (His initial reluctance, that is…) 

Natalie Angier explains it all to you: “A Highly Evolved Propensity for Deceit.”

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