Markets Crash - Panic Selling

Stock markets worldwide came crashing down today, as investors large and small rushed to the relative safety of cash. You know there's trouble ahead when analysts are recommending that 85 percent of investment portfolios should now be in cash. After months of denial, it is like the Dutch boy took his finger out of the dike. One can actually hear the bubbles popping as I write. First the housing bubble went, then the credit bubble, and now the market bubble follows. Pundits are talking in terms of "panic" and "tail spins." Read The Economist's analysis of the conundrum here.

Oh the markets will attempt a rally, they've fallen so low we're all desparately seeking a bottom. But I am not opptimistic. Looks like a real crash to this observer. And I should know. I was standing on the corner of Wall Street & Broad in NYC on Black Monday in 1987 when the Post's headline screamed MELT DOWN. It is interesting to note that the trigger for this worldwide event was the enormous "thud" made by president Bush's recently announced stimulus package - which has obviously been already judged as too little, too late. Surprised? I didn't think so. As if this buffoon and his minions saw this coming or have the horsepower to turn it around. Not happening. So get ready for the grief. Because there will be grief. And say so-long to the American dream for now.

Looking for someone to blame? Well, that piece at least is pretty clear. Blame Republicans and their very greedy corporate sponosors. In power for 8 years, this sorry crowd has ruined the economy, plunged us into countless, costly wars, sent all of our good jobs overseas while adding trillions to the national debt. Yes, I'm bitter about this because it was all so avoidable. A little less greed, a little more responsibility and respect and we would have avoided this disaster completely. But no. It wasn't to be. I urge my US readers to hold the appropriate government officials responsible at election time. To those outside the US, my apologies on behalf of my countrymen for this economic calamity that has been visited on us all by large, multinational banks and corporations.

Really Remembering Dr. King's Legacy

Today we celebrate the life, wisdom and many contributions of Dr. Martin Luther King, winner of the 1964 Nobel Peace Prize and the Presidential Medal of Freedom. Dr. King's non-violent movement, based in part of the work of Mahatma Ghandi, is credited with passage of the 1964 Civil Rights Act and the landmark Voting Rights Act in the United States.

Dr. King's contributions were many and some, frequently forgotten or conveniently overlooked, are especially resonant today. You see, Dr. King not only spoke out against widespread racism, he was equally vocal about militarism, poverty and materialism - which continue to plague our society and stain our reputation. As we reflect on the life and violent death of a man considered by some to be a saint, it is appropriate to remember the work left for us to do: The wars to end; the peace to be made; the poverty and resulting disease to be mitigated, and finally, the long-overdue relegation of materialism to the dust bin of history. I can hear the corporate oligarchs howling at the thought.

Seed Catalog Season

About this time every winter, seed catalogs start to arrive in numbers. Living in the country on a small hobby farm, we get our share. Though I always enjoy perusing the colorful pages of each and every catalog that arrives, one stands out from all the rest and deserves special mention.

Seeds of Change has been around for almost 20 years, "working hard," in their own words, "to uphold our mission of preserving biodiversity and promoting sustainable, organic agriculture." The company offers its customers certified organic seeds and plants, including a wide variety of heirloom seeds.

Heirloom or heritage seeds are old varieties of vegetables, shrubs and flowers that have been lovingly preserved over the years by dedicated farmers and gardeners worldwide. The practice is facilitated by a number of "seed exchanges," like this one. Seed exchange resources, including a number of useful links, can be found here.

Seeds of Change has long term relationship with the organic farmers who provide their seeds. Several of them are here in the valleys of southern Oregon, and I've had a chance to personally witness their dedication to organic agriculture. The company runs its own organic garden as well, and provides opportunities for six-to-eight interns per year at their New Mexico facility.

We have an organic garden because we are particularly concerned about the centralization of contol in the agriculture segment (ten companies control commercial agriculture) and the continued development and proliferation of genetically modified seeds. It turns out that the government in collusion with the large agribusiness firms have been paving the way for even more GM seeds, and taxpayers are footing the bill. Read about that scandal here. While you're at it, check out the Organic Consumers Assn.

As a result of our concerns, we purchase seeds from companies like Seeds of Change that have taken the "Safe Seed Pledge." And we save seeds, an anathema to Monsanto and those who would make seeds into intellectual property. We are grateful that organizations like Seeds of Change are around to support us and our endeavors in that regard.

Authorities Beat Blogger to Death in China

In what is being called the first death of a citizen journalist in China, news sources are reporting the fatal beating of a Chinese blogger who had stopped his vehicle to take pictures of a protest demonstration with his cell camera. City inspection authorities, alarmed at the prospect of blog post documenting their treatment of protestors, swarmed the blogger and beat him to death. Read CNN International's story here. Journalism has never been a "safe" profession, and the same can be said for citizen journalists in tightly controlled societies. Host of the next Summer Olympics, China has acted to punish the local authorities invovled by firing the senior official involved. Investigations continue as I write. One can only hope that this is the last such unfortunate episode. It is gratifying to note that the Chinese blogosphere helped to drive the government's quick intervention.

Please Comment on BLM's Ill-Conceived WOPR

I live in rural, southern Oregon. The federal government, specifically the BLM, is getting ready to implement a massive giveaway of public, old-growth forest to a few timber companies. They call the program WOPR, Western Oregon Plan Revision. Some revision. Clear-cutting is planned in old-growth stands and along salmon streams. Real bright, that. The BLM is also taking the opportunity to open-up pristine land to an army of motorized, off-road vehicles when there are thousands of acres in the Cascade range already devoted to that purpose. It's disgraceful, take my word for it. My home is next to some of the areas under discussion and this is a very close and important issue for me and my family. Check out the top-ten reasons why this plan is a bad idea here. And then read this synopsys. Thing is, you've only got until Friday at midnight to post a comment. The good news is that you can do it by email.

Pop Impulse Endorses Hillary

I am taking the occasion of the first anniversary of this blog and risking the ire of half my friends to post about a serious matter. The next president of the United States will face a very challenging term; unraveling Bush & Cheney's destructive mischief, settling lingering Middle East conflicts including but not limited to Iraq, and restoring our national reputation abroad as a serious superpower. The next CEO of the country will have to do all of that in the face of serious economic and geopolitical crises. After serious consideration and months of vacillating, I've decided that Hillary Clinton is best equipped by education, experience and temperament to get the job done.

Yes, I know that no candidate has lifted us up like Barak Obama since JFK. But at the end of the day, I believe we need a president who will do the difficult work required to dig us out of this hole. Stay up late at night making her brain hurt doing the people's work. A president who will be focused and relentless. Tough times demand extraordinary, tested leadership. That's why I'm endorsing Hillary for president. The Republicans put us into this horrible position, and they may just nominate a radical cleric as their candidate. (Look, the Neo-Cons and the Christian conservatives showed us their stuff, and it stunk.) So like most of the rest of the nation I'll be voting for Democrats.

Hillary is our best choice. And, she's earned it in case you've forgotten. This woman has proven strength and durability. She's stood up to the drug companies once, and as president I'm certain she'll finish the job she got started before the fall of reason. When nobody said it possible, she convinced rural, upstate New Yorkers to give her a try and now has stratospheric approval ratings as NY's junior senator. That's because she listens, and works hard to solve problems. And unlike several Republican candidates that come to mind, when Hill had her famous family problems, she worked them out while enduring relentless scrutiny and attack. Worked them out and kept her family together. Nobody can argue she's not tough enough for the job. And finally, I'm supporting Hillary for a very male reason. I know that I can trust her to make the bastards pay, as they should, for ruining my country. You see, Hillary has felt the wrath of the infamous cabal of angry Christain white men and borne the attacks of corporate character assassins, and she's still coming on strong. That's the kind of motivation that this author is looking for in a presidential candidate.

Women in Business Decry Fed Contract Lockout

Okay, let me set the stage for this bit of unwelcome news. Females are a statistical majority of the US population: 50.8% according to the US Census Bureau. Women own 30 percent of all privately-owned businesses in the country and are awarded an insulting, paltry 3.4% of all Federal contracts - which total billions of dollars every year. Sound fair to you? I didn't think so.

Well, it gets worse. A group of women business owners recently sued the feds for actively delaying the implementation of steps designed to address this obvious disparity, and WON in DC's Federal Circuit Court. So the courts agree, the government is in fact actively interfering with efforts to award a fair number of federal contracts to women-owned businesses. Worse, the feds are actually delaying implementation of new rules. What's up with that? Read the Washington Post article here.

So let me get this straight. The "ole boys" club, who have been rigorously maintaining the glass ceiling for years now, continue to hold women back - even though they are now a majority of the population. So much for "...by the people, for the people..." This is especially counterintuitive as researchers and activists around the world discover that the best way to alleviate poverty is to give women cell phones and access to credit. That's right. This is just another turf battle over control of power and wealth, at the end of the day. Conservative, angry white men have always called the shots in the US and that is going to change sometime very soon. So there's fear-and-loathing on Wall Street and in male-dominated small businesses across the contry. Well, get used to it. And get a grip. Business and the economy benefit from diversity and increased competition, so we're told. And I believe it.

Libertarians & Lefties Agree - FOX News Sucks

If it isn't already clear, I despise FOX News and all that it stands for. A dispicable propaganda machine, FOX commentators all appear to me to be reactionary, racist idiots. Much of the progressive Left agrees. I've featured videos from Brave New Films on the subject in this previous post, here.

Now, check out the supporters of Republican/Libertarian candidate Ron Paul chasing Sean Hannity, one of the FOX Networks worst offenders, and his crew from a restaurant down the street back to their hotel in New Hampshire. Got this one over at Larissa's RAW Story. Delicious footage of very angry activists. Dainty Dems should take notice. This is the "proper" way to deal with yellow journalism and faux news personalities. Yea.

Wikia Search Engine Alpha Launched Today

In some very exciting news for the Net community, Wikia Inc. today announced the launch of its new, user-centric Wikia Search Engine. The open-source, open-architectured search engine will be grown and managed by users like the organization's Wikipedia online encyclopedia. So today's launch is definitely an Alpha release. Read the Reuters wire story here. This is welcome and important news.

Wikia founder and Wikipedia patriarch Jimmy Wales put it this way in the company's press release:

"Today marks a significant, albeit initial step in our project to build a search engine. For the better part of the past year we've been working in the background to get to the stage we're at today -- an open-to-everyone alpha. We expect Wikia Search to be like fine wine inthat it will get better and better as time goes by and more and more people contribute. I've said before that Internet search must be more open and transparent and today marks a major milestone in our mission to make it just that."

Mil Blogger Dies in Iraq - Leaves Final Post

Major Andrew Olmsted, a noted military blogger stationed in Iraq, died yesterday of injuries sustained in the war. May he rest in peace. Read his final, "if I'm killed in Iraq" post at Obsidian Wings. I guarantee you'll laugh, then cry. As the toll of US dead climbs toward the 4,000 mark after five years of war, our thoughts go out to Major Olmsted's family in their moment of personal loss and grief. War sucks.

US Recession Confirmed - Unemployment Surges

I've been posting for some time about my concerns around the US economy. Specifically, the threat of imminent recession and all that means. Today, the numbers we've been dreading appeared - documenting a recent surge in unemployment. Read the NY Times article here, and the Financial Times piece here. The ominous rise in unemployment was accompanied by a related decrease in job creation. No surprise there. But that's only part of the picture.

The economy is tanking at the worst possible moment for most Americans. Why? Because personal debt has been soaring due to agressive, unrealistic and predatory campaigns by banks and lending institutions. That's right, banks are preying on their customers in their frenzy to feed on our debt. According to Dr. Carolyn Baker (source):

Average household credit card debt has increased 167% between 1990 and 2004. The average American had over seven payment cards in their wallet including credit card, retail store cards, and bank debit cards in 2004. The average interest rate paid on credit cards was approximately 14.54% in 2005. The rate of personal savings in the U.S. has dipped below 0% for the first time since the Great Depression, hitting negative .5% in 2005.

Read UMass Econ professor Rick Wolff's analysis of the situation here. And of course, don't forget that this meltdown is concurrent with the Sub-Prime loan meltdown. Another example of predatory business practices that I've posted about here, and here. Add to that scenario the costs of continuing wars (see real-time war cost calculator on the right sidebar), the imminent financial challenges in Social Security and Medicare and the picture becomes bleak. Will someone please tell me this is a bad dream. The only thing worse would be if the price of oil and basic foodstuffs like cereal shot up. Whoops, already happened. It's starting to look like a flash flood in a narrow canyon.

Tagging Cyberspace - One Year On

Pop Impulse is approaching its first anniversary. Though I am still struggling with navigational and design issues, almost 170 posts later, I am generally very happy with the site and the opportunity to tag cyberspace with my own mark.

That's what bloggers do, we TAG cyberspace with digital grafitti just as a Home Boy with a can of spray paint marks a boxcar or bridge. Some of our grafitti is unexpected and beautiful, some is stark and angry, and much of what I discover is the record of many mundane lives, dreams and aspirations. Almost all is worthwhile in some way to someone. What I really appreciate about the Blogosphere is its bottom-up architecture, which gives voice and admin authority to all. In a previously top-down world, that has been a most refreshing new direction.

In a way, I feel like I've been here before. In the mid-90s I was the publisher and executive editor of Southern Oregon Magazine, the first online regional travel WebZine. That pioneering site was 365 pages deep, contained original maps and a staff of editors headed-up by John Enders, a former award-winning AP correspondent. My two partners have moved on from that venture. John Fricker is an IT manager at Musician's Friend (a Pop Impulse recommended vendor); and Gary Roberts, who was responsible for the design, look-and-feel and maps in the publication, has become a master of Flash animations and advertising. The magazine, alas, was ahead of its time and though it won four awards our attempts to monetize the asset fell short of our needs. It didn't help that we all had day jobs as well.

Pop Impulse has become my refuge and my soapbox. From this blog, I stand and rant to Net surfers about all the stuff that I find interesting and important. At this writing, I have about 500 regular readers. I write to give voice to my wonder, my opinions, and my discoveries. But you keep me going. Three-to-four posts a week. I am grateful for my readers, and agree to keep the content flowing as long as there is interest. At some point, I will better organize the several subjects that Pop Impulse covers. And as all bloggers, I'd like to increase the amount of comments, diggs and subscriptions that I get...so I'm working on that.

In conclusion, I'd like to wish a Happy New Year to all. May the new year bring peace on earth and healing to the planet. I trust that all who celebrate at this time will have a safe and memorable passage into 2008. After a dinner at Meriwether's, my partner and I will be joining Portland, Oregon's hometown band Pink Martini at the Arlene Schnitzer Concert Hall to mark the event. I'll return to this blog the first week of January, the same time-frame that I first lit it up in January of last year.

Christian Clergy Clash on Christmas

The Church of the Nativity in Manger Square, where Jesus Christ was supposed to have been born. A holy site managed by priests from the Armenian Orthodox Church; the Eastern Orthodox (Greek/Russian) and the Catholic Church. A place where, predictably, on every high holy day there is conflict - among the clergy themselves. That's right. The ordained in pitched battle on the hallowed grounds where the Christian savior was born. Quite an image that. And a regular occurance. This time, it happened on Christmas and four were injured.

To review, the relationships between the sects charged with managing the site are so strained and bitter, every square inch of the place has been measured and marked-out as the turf of one sect or another. Cross the line, get you lights punched out. Then, of course, there are the differing calendars and dates that must be accomodated - often with rancor. Even cleaning the floor has been known to spark mini-riots. Such gracious and dignified behavior. OMG. Read the BBC report here.

But of course, we shouldn't be surprised. So many have died, often tortured and desecrated, in the name of one Christian sect or another. My own ancestors, the Celts, were famous for their internecine feuds. And the recent Irish troubles, pitting Protestants against Catholics, took almost half a century to settle. Then there's the Balkan conflicts. Don't get me started. Sometimes it seems to me that virtually all conflict has a least a few religious roots.

Bhutto Blamed Musharraf

In an October email to her American Spokesperson, Mark Siegel, Benazir Bhutto who was assassinated today blames former general and current Pakistani president Pervez Musharraf. (Image: General Musharraf with Pres. Bush in 07)

CNN's Wolf Blitzer is reporting that Siegel forwarded the email to him and he agreed to embargo the contents unless an assassination actually took place. Well it did, and Americans need to ask themselves and their government if our policies and billions in aid have moved our national and regional interests forward. It is now clear that the government of Pakistan will blame outside extremists when it is their own hands that are bloody.

Benazir Bhutto Assassinated

This morning, the Pakistani army killed one of the leading stateswomen in our generation, Benazir Bhutto. More specifically, the Paki Army's ISI security group is to blame. Either this elite corps, long-time supporters of the Taleban in Afghanistan and Kashmiri terrorists, assasinated Bhutto themselves, or their complicity and/or incompetance led directly to the attack. In either case, it is a sad day for Pakistan; for democracy, and, for empowered women everywhere.

It is no surprise that such a despicable act should happen in a country that is full of fundamentalists. That's what fundamentalists do, after all. And they seem to really get energized by exloiting and controlling their women. A 19 year-old gets gang raped in Saudi Arabia, the leading exporter of Wahabi fundamentalism, and it is her crime, her fault, and she is sentenced to 250 lashes. Uh huh. In rural Turkey, a young woman risks honor killing if she even looks at a young man without explicit family involvement and permission. Often it is the father or brother of the girl who murders her to maintain family honor. Now that's progressive thinking. And make no mistake about it, there are those here in the United States who would relegate women to subservient roles, burn books and use violence to impose their fundamentalist doctrines. Declare your independence from fundamentalism. Think for yourself.

Africa - The Power of Tribal Art

When I was 30, a friend needed to sell his collection of African masks and sculpture. The 25-piece collection lived at my home for months while I previewed the purchase opportunity for my associates. Though I never had an understanding or appreciation for tribal art to that time, living with those powerful pieces for months left me with a real sense of their meaning and value. I grew so fond of the collection that I was very sorry to see it go when a more serious collector stepped up and bought it all. I should never have let those pieces out the door. Since then I've been acquiring some African art of my own, including masks, batiks, weavings, baskets and wood carvings. I've included some of the pics in this post. Let me know what you think.

Rudy & Romney are DONE

You read it first here. The 2008 presidential campaigns of Gov. Mitt Romney and Mayor Rudy Giuliani are DONE. Kaput. Finished. Over.

Romney has been thoroughly exposed as an opportunistic phony who flip-flops in time with changing polls. It is clear now that he will say or do anything to get elected. I suspect it is a father-son competitive or comparison thing. In any case, his declining poll numbers reflect hemorrhaging support. And America's mayor Rudy is looking more-and-more like any other corrupt, wiseguy politician. It would have been counterintuitive, in any case, for the Republicans to nominate a candidate who was living with his mistress while still married. Makes Bill Clinton look quite saintly. At least he didn't divorce, twice.

The early stage Republican campaign has come down, for the time-being, to upstart evangelical Gov. Mike Huckabee and the GOP's proven Senate leader, John McCain. I'm predicting that McCain will emerge the victor and ultimate candidate, simply because faced with a real, ordained evangelical the rest of the party will bolt to McCain - led by the pro-corporatation, pro-globalization crowd. More on the upcoming elections and the Democratic primary race in a future post.

Royalty in the YouTube Era

In a cyberspace FIRST, Queen Elizabeth II of the United Kingdom, England's longest living monarch at 81, today launched a Royal Channel on YouTube. That's right, HRH is now appearing in a variety of videos on the newly configured channel announced today. Readers might also be interested to note that her annual holiday address to the nation is also available as a podcast via the royal web site. Okay, I'm impressed. Her highness seems to get it, and she's obviously got some tuned-in advisors. Here is the Times of London announcement article, and here is the Wikipedia entry on Elizabeth II with everything you ever wanted to know about the old girl and then some.

This does represent something of a validation and coming-of-age for the Internet. YouTube is already playing an important role in US elections, in citizen journalism and user-produced entertainment. Google's YouTube site may turn out to supplant network television in the same manner that Craig's List has undermined local newspapers.