Monday, July 27, 2009

The Rev Speaks Out


Who are these men and what do they have in common? Besides that....

Well, for one thing, they have the title "Reverend" and, for another, they speak out about black men in America.

From left to right: Jesse Lee Peterson; Jesse Jackson, Sr.; Al Sharpton

Probably, you have all heard about Rev. Jackson and Sharpton. A much smaller number of you have heard about Rev. Peterson.

In global warming alarmist circles, Rev. Peterson would be called an "anomaly." You know, a significant variation from the "norm." Perhaps from the "norm" that the Rev. Jackson and Sharpton represent. This is from Rev. Peterson's website:

July 22, 2009
Contact: Ermias Alemayehu

Sharpton, Harvard Prof “Abusing Police While Black,” Says Rev. Peterson

LOS ANGELES – Rev. Jesse Lee Peterson, Founder and President of BOND, the Brotherhood Organization of a New Destiny, today repudiated Harvard Professor Henry Louis Gates, Jr. and Al Sharpton for their “unfounded and reckless” allegations of racism against Cambridge, Massachusetts police. Cambridge police dropped a disorderly conduct charge against Gates yesterday; he had been arrested at his home on July 16 after police responded to a break in. Gates had locked himself out and reportedly forced his way inside.

When officers asked him to show identification Gates reportedly snapped, “No, I will not!” When an officer asked to speak to him outside, Gates was heard shouting, “Yeah, I’ll speak with your mama outside” and “This is what happens to black men in America.” Al Sharpton and Gates falsely accused the police of racially profiling him. Sharpton proclaimed, “I’ve heard of driving while black, but I’ve never heard of living in a home while black.” He added, “If they can do this to him [Gates], imagine what they can do to a kid in Roxbury.”

“Henry Gates and Al Sharpton are abusing police while black,” said Rev. Peterson. “Their false allegations say to young blacks that they too can abuse police and cry racism. Gates was abusive and disorderly and the police dealt with him accordingly—where’s the racism? This is a case of black males gone wild.”

Police in Cambridge bowed to pressure from liberal black leaders and issued a statement yesterday calling Gates’ arrest “regrettable and unfortunate.”

Rev. Peterson said, “What’s regrettable is that the city of Cambridge and the police have allowed themselves to be intimidated by a race hustler like Al ‘The Riot King’ Sharpton. The race card has once again been used to unjustly smear law enforcement and thwart justice. This is Tawana Brawley all over again!”

Sharpton gained national notoriety after his involvement in the Tawana Brawley rape hoax—where he took up the cause of a 15 year-old black girl from New York who falsely accused six white men (some were police officers). The allegations were tossed out, but Sharpton never admitted wrongdoing, nor has he apologized to the men in that case.

Let's just say this is not what most Americans will see or hear on American television. Rev. Peterson certainly has his detractors. Yet, another successful black man, Bill Cosby, has taken similar flak for similar statements.

Societal interaction among the races is not simply "black and white" [pun intended], but quite a bit of gray. To claim that racism is not an issue is to put on blinders. To claim that racism is one-sided is to put on blinders, also. People are stereotyped by groups to which they "belong." It's convenient. It's simple. It's wrong. But it is not without its reasons.


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There is always an easy solution to every human problem—neat, plausible, and wrong.
Henry Louis Mencken (1880–1956)
“The Divine Afflatus,” A Mencken Chrestomathy, chapter 25, p. 443 (1949)
... and one could add "not all human problems really are."
It was beautiful and simple, as truly great swindles are.
- O. Henry
... The Government is on course for an embarrassing showdown with the European Union, business groups and environmental charities after refusing to guarantee that billions of pounds of revenue it stands to earn from carbon-permit trading will be spent on combating climate change.
The Independent (UK)

Tracking Interest Rates

Tracking Interest Rates


SEARCH BLOG: FEDERAL RESERVE for full versions... or use the Blog Archive pulldown menu.

February 3, 2006
Go back to 1999-2000 and see what the Fed did. They are following the same pattern for 2005-06. If it ain't broke, the Fed will fix it... and good!
August 29, 2006 The Federal Reserve always acts on old information... and is the only cause of U.S. recessions.
December 5, 2006 Last spring I wrote about what I saw to be a sharp downturn in the economy in the "rustbelt" states, particularly Michigan.
March 28, 2007
The Federal Reserve sees no need to cut interest rates in the light of adverse recent economic data, Ben Bernanke said on Wednesday.
The Fed chairman said ”to date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing in core inflation”.

July 21, 2007 My guess is that if there is an interest rate change, a cut is more likely than an increase. The key variables to be watching at this point are real estate prices and the inventory of unsold homes.
August 11, 2007 I suspect that within 6 months the Federal Reserve will be forced to lower interest rates before housing becomes a black hole.
September 11, 2007 It only means that the overall process has flaws guaranteeing it will be slow in responding to changes in the economy... and tend to over-react as a result.
September 18, 2007 I think a 4% rate is really what is needed to turn the economy back on the right course. The rate may not get there, but more cuts will be needed with employment rates down and foreclosure rates up.
October 25, 2007 How long will it be before I will be able to write: "The Federal Reserve lowered its lending rate to 4% in response to the collapse of the U.S. housing market and massive numbers of foreclosures that threaten the banking and mortgage sectors."
"Should the elevated turbulence persist, it would increase the possibility of further tightening in financial conditions for households and businesses," he said.

"Uncertainties about the economic outlook are unusually high right now," he said. "These uncertainties require flexible and pragmatic policymaking -- nimble is the adjective I used a few weeks ago."

December 11, 2007 Somehow the Fed misses the obvious.
[Image from:]
December 13, 2007 [from The Christian Science Monitor]
"The odds of a recession are now above 50 percent," says Mark Zandi, chief economist at Moody's "We are right on the edge of a recession in part because of the Fed's reluctance to reduce interest rates more aggressively." [see my comments of September 11]
January 7, 2008 The real problem now is that consumers can't rescue the economy and manufacturing, which is already weakening, will continue to weaken. We've gutted the forces that could avoid a downturn. The question is not whether there will be a recession, but can it be dampened sufficiently so that it is very short.
January 11, 2008 This is death by a thousand cuts.
January 13, 2008 [N.Y. Times]
“The question is not whether we will have a recession, but how deep and prolonged it will be,” said David Rosenberg, the chief North American economist at Merrill Lynch. “Even if the Fed’s moves are going to work, it will not show up until the later part of 2008 or 2009.
January 17, 2008 A few days ago, Anna Schwartz, nonagenarian economist, implicated the Federal Reserve as the cause of the present lending crisis [from the Telegraph - UK]:
The high priestess of US monetarism - a revered figure at the Fed - says the central bank is itself the chief cause of the credit bubble, and now seems stunned as the consequences of its own actions engulf the financial system. "The new group at the Fed is not equal to the problem that faces it," she says, daring to utter a thought that fellow critics mostly utter sotto voce.
January 22, 2008 The cut has become infected and a limb is in danger. Ben Bernanke is panicking and the Fed has its emergency triage team cutting rates... this time by 3/4%. ...

What should the Federal Reserve do now? Step back... and don't be so anxious to raise rates at the first sign of economic improvement.
Individuals and businesses need stability in their financial cost structures so that they can plan effectively and keep their ships afloat. Wildly fluctuating rates... regardless of what the absolute levels are... create problems. Either too much spending or too much fear. It's just not that difficult to comprehend. Why has it been so difficult for the Fed?

About Me

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Michigan, United States
Air Force (SAC) captain 1968-72. Retired after 35 years of business and logistical planning, including running a small business. Two sons with advanced degrees; one with a business and pre-law degree. Beautiful wife who has put up with me for 4 decades. Education: B.A. (Sociology major; minors in philosopy, English literature, and German) M.S. Operations Management (like a mixture of an MBA with logistical planning)