A Different Recession

Came across this post today - note that it was written in Feb 2008, well before a recession was officially declared, and well before the general public had any idea of the economic malaise that had already begun.

I have heard a few people (mainly those on the right) argue that the federal government's significant deficit spending is reckless in nature - that it is putting a significant debt burden on future generations of taxpayers. They point to the Reagan administration (incorrectly) claiming that it let free market corrections occur in the macroeconomy to restimulate the economy.

First, that simply isn't correct. The Reagan administration (and administrations during the 70's) used monetary policy - lowering interest rates - to stimulate growth. But, the Reagan administration also entered into significant deficit spending during the early-mid 80's (tax cuts combined with increased military spending) thus further stimulating overall economic growth. These actions led to soaring federal debt levels.

Second, the current recession is nothing like those of the 70's and 80's. Those recessions were essentially CREATED by the federal government and Federal Reserve Bank in an effort to control soaring inflation. Only after the inflation was addressed did the government begin to lower interest rates to jump start the economy.

Today's recession is more traditional in nature - it is marked by a severe contraction along with falling real price levels. Further, since the Fed has already pumped record amounts of money into the economy (note the near-0% prime rate goal - caused by the Fed purchasing over $1T worth of securities) without any success in stimulating growth, there is only one place left to turn: the federal government's ability to spend in deficit, an attempts to boost overall levels of demand.

Yes, future generations will face huge burdens of debt, but the alternative might be many years (even decades) of stagnation in the economy - a cost that would far exceed virtually any level of federal debt. That would be a much worse burden to place on future generations.

Feed Burner

Not sure how this will work, but I've added a blog feed option. On the right side of the page, follow the link to add your email to my blog feed and you'll receive updates each time I add a post.

10 More Days

You may remember that I was told I would be notified by Fulbright about next year by March 31st. Well, a couple weeks ago I received an email explaining they have pushed that notification deadline back two weeks, to April 15. They say they have been very busy arranging exchange matches so they need more time to complete their work.

I can't tell you how anxious I am to hear something, anything. I told Cori yesterday that at this point I would almost rather hear that there will not be a match over this lingering silence.

But, it if waiting 10 more days means there will be a match, I'll wait.

Meanwhile, I have a student teacher at GHS now. Mr. D is in his mid-20s, and graduated from UW-Madison in law and political science. Now he's close to getting his teaching license.

For much of the rest of the year Mr D will teach two of my world history classes, leaving me with two history classes, and one econ class. The lighter workload will be a nice relief now that track has started (I'm coaching the jumps about two days a week) and golf season is very near.

Still, this being my first student teacher I'm not sure what to expect: the transition from me to him leading those classes will be taking place during the next few weeks.

Imperialism

My world history students are finishing their study of "new imperialism." This is the period of global conquest following the development of industry in western Europe and North America.

Searching for insight into 19th century imperialism's lasting effects on modern peoples, I contacted my good friend Zaheer who grew up in India. His response:

Oh boy, that's some question...

Imperialism. On a personal level it's a hard subject to talk about in moderate terms because it's so close to me.

Perhaps the only way to describe it, in a way that people who have not been affected by its effects, as part of its receiving end, would be to say that it is equivalent to the Holocaust or the extermination of the Native Americans from their lands, but in a more prolonged and mind-numbing way than either of those two horrific events in history.

The theft of identity, of culture, of dignity, of self-awareness, of wealth, of the pursuit of independence, of destiny and of life itself (in the millions), is the best way I could describe the effects of Imperialism on my home country, and on any other land that was overrun by imperialism. And of course I am here talking about historical Imperialism (the European powers), that I absorbed in school books, and grandmother's stories, and from growing up in a society like I did...

I do not even refer to modern Imperialism (the US), that afflicts large parts of this planet, including the South Pole and the North (with the environmental genocide that's on-going), the Himalayas, in Tibet, in Iraq and Afghanistan and Haiti and Cuba and the Marshall Islands.

For me Imperialism equates to Genocide, to hate, to racism, to destruction, to everything that is, has ever been and will ever be wrong with the world we live in. The state-induced famines of The Bengal, in India, caused by the British two hundred years ago to begin with, and ending sixty years ago, are still fresh in my mind. I am older than I look.

Below is an interesting negative/ positive story about Imperialism in Africa (pulled off the net), although I suppose the term Africa could be replaced by any other society that has been conquered and occupied. Only the occupied understand the feeling. What can't be explained in words is the feeling of Poverty and betrayal. Like Jesus felt. And Judas also.

But that feeling, for those of us who survived, is also a feeling of liberation, and we have seen something greater than ourselves, and it is accomplished. Or maybe it is not accomplished, but at least we know which direction's north and which is south, and which is east and which is west.

And know what is right and what is wrong.

But perhaps I am speaking only for myself, and not even for myself, and we are all completely damned, or blessed. Either way the force of history is finally upon us.

Gaza. Kashmir. Northern Ireland.

India. The Indian Ocean. Africa. Asia. America.

What happened to us? Why so many highways? Why so few forests? Why do you have to show your ID to buy a beer, even though you are obviously not 21...

Why is it ok for children to die from disease and war, even today, in 2009.

For me, it boils down to one word - Imperialism.

It's a big, bad word, in a big, good world.

Cheers, Zed

Taken from the Internet, provided by Zed:

Q: What were the negative and positive effects of imperialism in Africa on the colonised?

A: The effects would be too numerous to list, of course, and they're widely debated. Here are some that have been listed, grouped in the two categories.

Negative Effects on the Colonized:

• Much of the land was taken by other countries; There was little land that belonged to any native Africans
• Land was expropriated (confiscated) and inhabitants were forced to work to pay tax to the colonialists
• Splitting up ethnic groups into separate countries, combining enemy ethnic groups into the same country
• More powerful weapons introduced to existing warring factions
• Deaths from foreign diseases
• Social division and racial strife
• Countries were left underdeveloped
• Imperial powers created unequal trade; by colonialists using raw materials and cheap labor in Africa then producing the goods back home and selling them back to the Africans created a trade deficit. This also led to European countries accumulating great riches and expanding their industry, while Africa remained economically stagnant, mainly getting by on agriculture and mining
• Destruction of traditional culture
• The slave trade and slavery; slave raiding kingdoms traded fellow Africans as slaves in return for European luxuries
• When countries eventually regained their independence, they had no skills to adequately maintain the infrastructure or participate in the global economy in which they were already disadvantageously positioned
• The destruction and economically weak position resulting from colonialism can never be righted, not that the countries that vastly benefited from their domination have offered to right the wrongs of the past
• The ideological conditioning of the Western world as naturally superior and 'civilized'
• The forcing of indigenous people to adhere to Christianity
• The ignorance towards the human rights of African people

Positive Effects on the Colonized:

• Development of infrastructure
• Advances in agriculture and mining
• Introduction of modern medicine

A watched pot...

Lately, I have been crossing my fingers when I log into my email account. Like the 8-year-old boy who waits for the mailman each day, longing for those mail-order sea monkeys to arrive, I could hardly be more anxious about news on this Fulbright Exchange.

Last week I contacted Fulbright to remind them that I do not have to be matched with a teacher who teaches both world history and economics; A world history-only teacher will do. They kindly replied saying they would note that in my file (I hope it was already noted!) but they did not provide any insight into progress of finding me a match. :-(

So, I wait....with crossed fingers.