Archive for the ‘Uncategorized’ Category
Courtesy The New Yorker–click on the pic to enlarge…
June 3-- ALLEN GINSBERG
Great Beat poet, pot liberator, counter-cultural icon.
JUNE 3, 2009 HOLIDAYS AND FESTIVALS
*Japan: Broken Dolls Memorial. Girls attend Buddhist funeral ceremonies, bury old dolls.
* Impersonate Authority Day.
ALSO ON JUNE 3 IN HISTORY…
1906 — Jazz dancer, actress, stripper Josephine Baker born, St. Louis, Missouri.
1924 — Dystopian allegorist Franz Kafka dies, Kierling, Austria.
1926 — American Beat poet, activist Allen Ginsberg born, Newark, New Jersey.
1968 — Andy Warhol “air conditioned” by Valerie Solanas, author of SCUM Manifesto, New York City.
Excerpted from The 2009 Autonomedia Calendar of Jubilee Saints: Radical Heroes for the New Millennium by James Koehnline and the Autonomedia Collective
More info on the in-progress “End:Civ” at submedia. The film is based on the work and thought of anti-civilization author/activist Derrick Jensen, who was interviewed at length by Jay Babcock in Arthur No. 23 (July 2006). That interview is available online, here. (We have very, very few copies of Arthur No. 23 in stock. They are available for $100 each at the Arthur store, here.)
Russom debuts Black Meteoric Star tracks with Assume Vivid Astro Focus at Paris’ Super Festival in April, 2008 (part 2 below)
Former Arthur cover co-star Gavin Russom has new music coming out next week on DFA. He’s recording as Black Meteoric Star, and while the tunes are still rife with droning synthesizers — a la his essential Days of Mars work with Delia Gonzalez — he’s going for more of a dance floor vibe this time. Specifically, BMS is his exploration into acid house. He expands on that a bit in this 2008 interview with the UK’s Fact magazine:
“Later I became very interested in the thematic elements of early Detroit and Chicago electronic music and the cultural environments that surrounded the Warehouse. Of particular interest was the way that a piece of music technology (specifically the Roland TB-303) generated an entire musical aesthetic because of its characteristics and its limitations. The post-apocalyptic vision of a new society, armed with electronic technology, emerging from the post industrial wasteland resonated with my own political ideals, my experiences growing up in Providence and my interest in the post-WWI European avant-garde who had similar ideas.
“Of course I always come back to the fact that it’s simply interesting and powerful psychedelic music.”
The self-titled album’s out on June 9, but you can get a preview via Tim Sweeney’s “Beats In Space” radio broadcast from back in April. Russom opens with 30 minutes of BMS material, before going into a lovely DJ set including plenty of drones plus crusty voodoo folk-rock from Exuma and Archie Shepp’s “Monkey Blues.” Download the whole 90 minute podcast over at Beats In Space.
• More info on DFA’s MySpace page: http://www.myspace.com/dfarecords
• Trinie Dalton interviewed Delia & Gavin for Arthur 21/March 2006, copies of which are still available in the Arthur Store. Click here to commence browsing.
• Assume Vivid Astro Focus made a sweet video for Delia & Gavin’s “Relevee”, which we posted back in April of 2008. Check it out by clicking here.
The economy’s favorite children: Simon Johnson on Wall Street’s “Quiet Coup” (The Atlantic, May 2009)
Following is a distilled version of “The Quiet Coup” from the May 2009 issue of The Atlantic. The complete text is available here.
The article’s author is Simon Johnson, “a professor at MIT’s Sloan School of Management, [who] was the chief economist at the International Monetary Fund during 2007 and 2008. He blogs about the financial crisis at baselinescenario.com, along with James Kwak, who also contributed to this essay.”
“[T]he U.S. is unique. And just as we have the world’s most advanced economy, military, and technology, we also have its most advanced oligarchy. …
“[T]he American financial industry gained political power by amassing a kind of cultural capital—a belief system. Once, perhaps, what was good for General Motors was good for the country. Over the past decade, the attitude took hold that what was good for Wall Street was good for the country. The banking-and-securities industry has become one of the top contributors to political campaigns, but at the peak of its influence, it did not have to buy favors the way, for example, the tobacco companies or military contractors might have to. Instead, it benefited from the fact that Washington insiders already believed that large financial institutions and free-flowing capital markets were crucial to America’s position in the world…
“One channel of influence was, of course, the flow of individuals between Wall Street and Washington. …
“These personal connections were multiplied many times over at the lower levels of the past three presidential administrations, strengthening the ties between Washington and Wall Street. ….
“A whole generation of policy makers has been mesmerized by Wall Street, always and utterly convinced that whatever the banks said was true. …
“Of course, this was mostly an illusion. Regulators, legislators, and academics almost all assumed that the managers of these banks knew what they were doing. In retrospect, they didn’t. …
“Wall Street’s seductive power extended even (or especially) to finance and economics professors, historically confined to the cramped offices of universities and the pursuit of Nobel Prizes. As mathematical finance became more and more essential to practical finance, professors increasingly took positions as consultants or partners at financial institutions. …
“As more and more of the rich made their money in finance, the cult of finance seeped into the culture at large. … In a society that celebrates the idea of making money, it was easy to infer that the interests of the financial sector were the same as the interests of the country—and that the winners in the financial sector knew better what was good for America than did the career civil servants in Washington. Faith in free financial markets grew into conventional wisdom—trumpeted on the editorial pages of The Wall Street Journal and on the floor of Congress.
“From this confluence of campaign finance, personal connections, and ideology there flowed, in just the past decade, a river of deregulatory policies that is, in hindsight, astonishing. ….
“The mood that accompanied these measures in Washington seemed to swing between nonchalance and outright celebration: finance unleashed, it was thought, would continue to propel the economy to greater heights. …
“[M]ajor commercial and investment banks—and the hedge funds that ran alongside them—were the big beneficiaries of the twin housing and equity-market bubbles of this decade, their profits fed by an ever-increasing volume of transactions founded on a relatively small base of actual physical assets. Each time a loan was sold, packaged, securitized, and resold, banks took their transaction fees, and the hedge funds buying those securities reaped ever-larger fees as their holdings grew. ….
“By now, the princes of the financial world have of course been stripped naked as leaders and strategists—at least in the eyes of most Americans. But as the months have rolled by, financial elites have continued to assume that their position as the economy’s favored children is safe, despite the wreckage they have caused. …
“In a financial panic, the government must respond with both speed and overwhelming force. The root problem is uncertainty—in our case, uncertainty about whether the major banks have sufficient assets to cover their liabilities. Half measures combined with wishful thinking and a wait-and-see attitude cannot overcome this uncertainty. And the longer the response takes, the longer the uncertainty will stymie the flow of credit, sap consumer confidence, and cripple the economy—ultimately making the problem much harder to solve. Yet the principal characteristics of the government’s response to the financial crisis have been delay, lack of transparency, and an unwillingness to upset the financial sector. …
“The response so far is perhaps best described as “policy by deal”: when a major financial institution gets into trouble, the Treasury Department and the Federal Reserve engineer a bailout over the weekend and announce on Monday that everything is fine. …
“Some of these deals may have been reasonable responses to the immediate situation. But it was never clear (and still isn’t) what combination of interests was being served, and how. Treasury and the Fed did not act according to any publicly articulated principles, but just worked out a transaction and claimed it was the best that could be done under the circumstances. This was late-night, backroom dealing, pure and simple.
“Throughout the crisis, the government has taken extreme care not to upset the interests of the financial institutions, or to question the basic outlines of the system that got us here. …
“As the crisis has deepened and financial institutions have needed more help, the government has gotten more and more creative in figuring out ways to provide banks with subsidies that are too complex for the general public to understand. …
“Even leaving aside fairness to taxpayers, the government’s velvet-glove approach with the banks is deeply troubling, for one simple reason: it is inadequate to change the behavior of a financial sector accustomed to doing business on its own terms, at a time when that behavior must change. ….
“Looking just at the financial crisis (and leaving aside some problems of the larger economy), we face at least two major, interrelated problems. The first is a desperately ill banking sector that threatens to choke off any incipient recovery that the fiscal stimulus might generate. The second is a political balance of power that gives the financial sector a veto over public policy, even as that sector loses popular support.
“Big banks, it seems, have only gained political strength since the crisis began. And this is not surprising. With the financial system so fragile, the damage that a major bank failure could cause—Lehman was small relative to Citigroup or Bank of America—is much greater than it would be during ordinary times. The banks have been exploiting this fear as they wring favorable deals out of Washington. …
“The challenges the United States faces are familiar territory to the people at the IMF. If you hid the name of the country and just showed them the numbers, there is no doubt what old IMF hands would say: nationalize troubled banks and break them up as necessary. …
“At the root of the banks’ problems are the large losses they have undoubtedly taken on their securities and loan portfolios. But they don’t want to recognize the full extent of their losses, because that would likely expose them as insolvent. So they talk down the problem, and ask for handouts that aren’t enough to make them healthy (again, they can’t reveal the size of the handouts that would be necessary for that), but are enough to keep them upright a little longer. This behavior is corrosive: unhealthy banks either don’t lend (hoarding money to shore up reserves) or they make desperate gambles on high-risk loans and investments that could pay off big, but probably won’t pay off at all. In either case, the economy suffers further, and as it does, bank assets themselves continue to deteriorate—creating a highly destructive vicious cycle.
“To break this cycle, the government must force the banks to acknowledge the scale of their problems. As the IMF understands (and as the U.S. government itself has insisted to multiple emerging-market countries in the past), the most direct way to do this is nationalization. Instead, Treasury is trying to negotiate bailouts bank by bank, and behaving as if the banks hold all the cards—contorting the terms of each deal to minimize government ownership while forswearing government influence over bank strategy or operations. Under these conditions, cleaning up bank balance sheets is impossible.
“Nationalization would not imply permanent state ownership. /// The main advantage is immediate recognition of the problem so that it can be solved before it grows worse. …
“Cleaning up the megabanks will be complex. And it will be expensive for the taxpayer. …. But only decisive government action—exposing the full extent of the financial rot and restoring some set of banks to publicly verifiable health—can cure the financial sector as a whole.
“This may seem like strong medicine. But in fact, while necessary, it is insufficient. The second problem the U.S. faces—the power of the oligarchy—is just as important as the immediate crisis of lending. And the advice from the IMF on this front would again be simple: break the oligarchy.
“Oversize institutions disproportionately influence public policy; the major banks we have today draw much of their power from being too big to fail.
“Ideally, big banks should be sold in medium-size pieces, divided regionally or by type of business. … Banks that remain in private hands should also be subject to size limitations.
“Anything that is too big to fail is too big to exist.
“To ensure systematic bank breakup, and to prevent the eventual reemergence of dangerous behemoths, we also need to overhaul our antitrust legislation. …
“Laws put in place more than 100 years ago to combat industrial monopolies were not designed to address the problem we now face. The problem in the financial sector today is not that a given firm might have enough market share to influence prices; it is that one firm or a small set of interconnected firms, by failing, can bring down the economy. The Obama administration’s fiscal stimulus evokes FDR, but what we need to imitate here is Teddy Roosevelt’s trust-busting. …
“In my view, the U.S. faces two plausible scenarios. The first involves complicated bank-by-bank deals and a continual drumbeat of (repeated) bailouts, like the ones we saw in February with Citigroup and AIG. The administration will try to muddle through, and confusion will reign.
“Boris Fyodorov, the late finance minister of Russia, struggled for much of the past 20 years against oligarchs, corruption, and abuse of authority in all its forms. He liked to say that confusion and chaos were very much in the interests of the powerful—letting them take things, legally and illegally, with impunity. When inflation is high, who can say what a piece of property is really worth? When the credit system is supported by byzantine government arrangements and backroom deals, how do you know that you aren’t being fleeced?
“Our future could be one in which continued tumult feeds the looting of the financial system, and we talk more and more about exactly how our oligarchs became bandits and how the economy just can’t seem to get into gear.
“The second scenario begins more bleakly, and might end that way too. But it does provide at least some hope that we’ll be shaken out of our torpor. It goes like this: the global economy continues to deteriorate, the banking system in east-central Europe collapses, and—because eastern Europe’s banks are mostly owned by western European banks—justifiable fears of government insolvency spread throughout the Continent. Creditors take further hits and confidence falls further. The Asian economies that export manufactured goods are devastated, and the commodity producers in Latin America and Africa are not much better off. A dramatic worsening of the global environment forces the U.S. economy, already staggering, down onto both knees. The baseline growth rates used in the administration’s current budget are increasingly seen as unrealistic, and the rosy “stress scenario” that the U.S. Treasury is currently using to evaluate banks’ balance sheets becomes a source of great embarrassment.
“Under this kind of pressure, and faced with the prospect of a national and global collapse, minds may become more concentrated.
“The conventional wisdom among the elite is still that the current slump “cannot be as bad as the Great Depression.” This view is wrong. What we face now could, in fact, be worse than the Great Depression—because the world is now so much more interconnected and because the banking sector is now so big. We face a synchronized downturn in almost all countries, a weakening of confidence among individuals and firms, and major problems for government finances. If our leadership wakes up to the potential consequences, we may yet see dramatic action on the banking system and a breaking of the old elite. Let us hope it is not then too late.
To those not yet in the know, all the true heads check in at the Crystal Vibrations audioblog for the cream of the crop in Nuevo Age jammage. CV is Greg Davis‘ thing mostly, if we’re going on number of posts, and his thoroughness with regard to the history and cultural relevance of New Age music suggests that the man has curated a staggering collection of some of the most mundane sounds ever conceived. (Davis, if you don’t know, has been creating very pleasant albums of sorta tribal ambient electronic stuff since the early ’00s.)
Keeping that in mind, the truly hype shit when it comes to New Age tunes is outta this world, and stands out as even more of a treasure given the genre’s overarching treacly nature. A reclamation and a reappropriation of the blissfully soporific is in effect here, engineered by the aforementioned Davis, along with likeminded pals such as White Rainbow’s Adam Forkner.
So yeah: We’re STOKED that he’s back with his first post since early April. Namely, to quote Davis, “a real soother” in the form of David Parsons’ 1980 album, Sounds of the Mothership. The awesome picture up top sums it up: The best possible version of “bidi-puffing white dude hanging out by a waterfall, getting mellow on the sitar” you can imagine. Plus the requisite Tangerine Dream-style warbling synth drones and occasional cricket chirp and birdsong. So chill.
Through August 4: Propose Your Own Event at the University of Trash (SculptureCenter, Long Island City, New York)
There isn’t all that much to see at The University of Trash at SculptureCenter if you go there when “classes” aren’t in session. Asides from a few skeletal wooden structures– half jungle-gym, half campus center–and a slightly smaller than life replica of the old Tompkins Square Park bandshell, this summer-long “makeshift university”/Adventure Playground”(see Arthur contributor Andy Folk’s earlier post on the installation) is exactly what we–the greater New York City community–choose to make of it. Which means that in addition to signing up for some of the Free Skool’s delightfully unorthodox course offerings (radio transmitter building workshops, “Silkscreening Skills Shares,” “Composting in the City” classes, and Karl Marx reading groups, along with the more predictable situationist/spatio-political academic lecture fare–you can actually book the space for your own artistic, political, or pedagogical happenings. That is, as long as you can find a free time-slot on the University Calendar.
A university-wide “Call to Action” (as opposed to “Call for Entries”):
The Free Skool, at The University of Trash
44-19 Purves Street
Long Island City, NY 11101
$5 requested donation
June 2, 2009 HOLIDAYS AND FESTIVALS
*Mons, Belgium: Festival of the Golden Chariot.
*Festival of Utter Confusion.
ALSO ON JUNE 2 IN HISTORY…
1740 — Writer, sex deviate Marquis de Sade born, Paris, France.
1899 — Butch Cassidy’s gang robs Union Pacific train in Wyoming.
1924 — Natives in heartland of North America are granted “citizenship”
by the state that largely exterminated them.
1987 — Celebrated Spanish guitarist Andrés Segovia dies.
Excerpted from The 2009 Autonomedia Calendar of Jubilee Saints: Radical Heroes for the New Millennium by James Koehnline and the Autonomedia Collective
Unbelievable but true! Baudrillard recites his poetry backed up by an all star band featuring Tom Watson, Mike Kelley, George Hurley, Lynn Johnston, Dave Muller and Amy Stoll, special guest vocalist Allucquère Rosanne Stone. Recorded live as part of the Chance Festival at Whiskey Pete’s Casino in Stateline Nevada, 1996. You’ve never heard Baudrillard like this before! Music to read Nietzsche to.
Baudrillard in UbuWeb film:
via UbuWeb Blog