August 5, 2011 archive

Famine in the Horn of Africa

Cross posted from The Stars Hollow Gazette

No more delays or restrictions for Somalis needing aid and refuge

“Fighting in Somalia, restrictions on supply flights, international support staff as well as administrative hurdles have all contributed to the current hardship faced by the Somali population today,” said Unni Karunakara, International President of MSF. “It is essential that both restrictions and obstacles to humanitarian aid be removed as the situation continues to worsen.”

This weekend, August 6 & 7, Daily Kos will be sponsoring a blogathon to raise money for East Africa Food Crisis: 48-Hour Famine Fundraiser

They have decided to donate all monies raised to directly support the work of Médecins Sans Frontières in the Dadaab refugee camp.  An anonymous donor has volunteered $5,000 in matching funds.  

The humanitarian crisis from famine due to drought is worsening and being hindered in Somalia due to the the lack of safety and aid being blocked by Islamic extremists. Us laws that prohibit nongovernmental aid organizations from receiving any US assistance if they try to negotiate with the rebels, has further hindered aid to nearly 3 million who are at risk of death from starvation.

The US development agency USAid said the $28m (£17m) it pledged to Somalia this week would target areas hardest hit by the drought. But, given the strength of feeling the Americans have towards al-Shabaab – it’s on a list of terrorist organisations – and the fact that it controls the two areas of Somalia the UN declared to be famine zones, Bakool and Lower Shabelle, it is difficult to see how those most in need will benefit from the money.

Donald Steinberg, deputy administrator of USAid, said on Wednesday that America needed assurances from the UN that al-Shabaab would not restrict delivery of US-funded aid in rebel areas before it would allow its aid to be delivered.

NBC’s Richard Engel explains how a Somali terror group is blocking aid to famine victims in order to win a political power struggle

Somalia famine has reached three new regions, says UN

Immediate lifesaving help now needed by 3.2 million people in south of the country

The UN has declared three new regions in Somalia as famine zones, including the refugee camps in the capital Mogadishu.

The UN Food and Agriculture Organisation said famine is likely to spread across all regions of the south of the country in the next four to six weeks, and persist until December. Out of a population of 7.5 million, 3.2 million are in need of immediate lifesaving assistance in its worst drought in 60 years, but aid supply is difficult because al-Qaida linked militants control much of Somalia’s most desperate areas.

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Crossposted from The Stars Hollow Gazette

As I assemble this the DOW is once again down over 200 points and the question is whether it will remain above 11,000 at the close.

Rates of Wrath

August 4, 2011, 11:41 am

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.

The Wrong Worries

By PAUL KRUGMAN, The New York Times

Published: August 4, 2011

Consider one crucial measure, the ratio of employment to population. In June 2007, around 63 percent of adults were employed. In June 2009, the official end of the recession, that number was down to 59.4. As of June 2011, two years into the alleged recovery, the number was: 58.2.



And why should we be surprised at this catastrophe? Where was growth supposed to come from? Consumers, still burdened by the debt that they ran up during the housing bubble, aren’t ready to spend. Businesses see no reason to expand given the lack of consumer demand. And thanks to that deficit obsession, government, which could and should be supporting the economy in its time of need, has been pulling back.



Those plunging interest rates and stock prices say that the markets aren’t worried about either U.S. solvency or inflation. They’re worried about U.S. lack of growth. And they’re right, even if on Wednesday the White House press secretary chose, inexplicably, to declare that there’s no threat of a double-dip recession.



The point is that it’s now time – long past time – to get serious about the real crisis the economy faces. The Fed needs to stop making excuses, while the president needs to come up with real job-creation proposals.



This might or might not work. But we already know what isn’t working: the economic policy of the past two years – and the millions of Americans who should have jobs, but don’t.

You know, it’s just a stinking Nobel Prize in Economics.  This guy knows nothing.

Pulling Rank

August 5, 2011, 9:12 am

I’ll pass the specific arguments by, and note another feature of this “debate” that has struck me a lot during recent economic controversies: the way Williamson tries to settle the argument by pulling rank, portraying Quiggin as some kind of obscure and unqualified guy.

It’s funny in this case, because Quiggin is in fact a prominent economist, Williamson not so much. But even if this weren’t true, that’s no way to argue. Which is why it has been so sad to see how common this kind of argument has been in recent years.

I don’t have time right now to track down all the examples, but if you look at how many freshwater macroeconomists have responded to Keynesian arguments in this crisis, you find over and over again that they resort to assertions of privilege – basically, I am a famous macroeconomic expert and you aren’t – rather than really addressing the issues. And this is so ingrained a response, apparently, that they use it in situations where it’s truly ridiculous: Lucas accusing Christy Romer of not understanding basic macro, then demonstrating that he doesn’t understand Ricardian equivalence; Barro belittling the credentials of yours truly, just after forgetting that there was rationing and investment controls during World War II.

BREAKING: This Week In The Dream Antilles

Washington-  President Obama today announced sweeping changes in US economic policy that would guarantee full employment by the end of 2012 and resolution of the nation’s deficit.  The Executive Order, issued while Congress was on summer vacation, was an enormous surprise even though it was apparent that the move had been planned for months.  The extensive, 450 page Executive Order primarily addresses employment and taxation.

Following the announcement, the President’s Press Secretary Jay Carney was overheard to say, “We’re not going to allow Republicans to continue act like two-year olds who have not mastered toilet training. We are not going to let them turn America into an open air septic tank. This is how we have had to do that.”

The stock market responded to the announcement by recording its largest single hourly advances in history.  

Your Bloguero could continue to tell the story.  He could tell you how the President had authorized billions and billions of dollars to be spent immediately on infrastructure, including rail systems and wind power, to stimulate employment.  And how he had required banks immediately to refinance mortgages and to forgive student loan debts.  And your Bloguero could tell you how the President had exercised his emergency powers to restore the income tax rate on America’s wealthiest people to 1955 levels and had restored cuts to food stamps, and welfare and how he had increased and extended unemployment benefits.  And how he had closed Guantanamo and recalled all of the troops from Iraq and Afghanistan.  He could describe for you how the President had thumped his podium and said,

“This is a national emergency in our economy, and I am exercising my executive powers to preserve our Nation.  I am not going to stand idly by. I am enacting these policies now because the nation can no longer depend on this dysfunctional Congress to save its economy from depredation.  To the contrary, Congress’s actions have thrust the nation into this crisis, and they refuse contumaciously to reverse themselves.  No.  The buck stops here. I have acted to end a national emergency.”

Alas.  Tell me lies.  Your Bloguero cannot bear the truth.

This Week In The Dream Antilles is usually a weekly digest. Sometimes, like now, it is not actually a digest of essays posted in the past week.  For that you have to visit The Dream Antilles. Your Bloguero always solicits your support. No, not your money. Just leave a comment so that your Bloguero will know that you stopped by. Or, even easier, just click the “Encouragement jar”. Your Bloguero likes to know that you’re visiting

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cross posted fromThe Dream Antilles

   

What’s Hampering Jobless Veterans

With veterans’ unemployment rising, President Barack Obama is scheduled on Friday in a visit Washington’s Navy Yard to announce initiatives to prepare vets for civilian jobs.

Those boomers born during WWII and in the few years directly after may or may not remember their childhood years, I do. What your parents, coming out of the military, no higher education needed to fight our wars, or moms coming out of the factories, quickly taught the jobs needed to work in by those who for many reasons couldn’t serve in the military. You grew up into that working world that had quickly grown a prosperous middle class, and with usually small but regular raises and improved benefits and safety you were prospering better then your parents. That all started changing some thirty to forty years ago to growth at the top and wall street investing while the worker stopped sharing in the labors instead given easy, but costly, credit to make them think they were doing better then the generations previous.

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