THE CRISIS THAT IS GLOBAL

The nation's fast-darkening circumstances define the essential dilemma of Barack Obama's presidency. His instinct is to govern by consensus, in the moderate middle ground of politics. Yet dire events are pushing the new president toward solutions more fundamental than those he had intended. The longer he resists taking more forceful action, the more likely it is that he will be overwhelmed by the gathering adversities.
Congress should step up its investigations of the roots of the financial crisis and slow down the rush to weak solutions--especially the empowerment of the Federal Reserve. Three large obstacles are blocking Obama's path. The first is one of scale: his nearly $800 billion recovery package sounds huge, but it is perhaps two or three times too small to produce a turnaround. The second is that the financial system--still dysfunctional despite the bailouts--requires much more than fiscal stimulus and bailout: the government must nationalize and supervise the banks to ensure that they carry out the lending and investing needed for recovery. This means liquidating some famous nameplates--led by Citigroup--that are spiraling toward insolvency. The third is that the crisis is global: the US economy cannot return to normal unless the unbalanced world trading system is simultaneously reformed. Globalization has vastly undermined US productive strength, as trade deficits have led the nation into deepening debtor dependence.
While Washington debates the terms of Obama's stimulus package, others see disappointment ahead. The Levy Economics Institute of Bard College, an outpost of Keynesian thinking, expresses its doubts in emotional language that professional economists seldom use. "The prospects for the US economy have become uniquely dreadful, if not frightening," Levy analysts reported. The institute's updated strategic analysis warns that the magnitude of negative forces--the virtual collapse of bank lending, private spending, consumer incomes and demand--"will make it impossible for US authorities to apply a fiscal and monetary stimulus large enough to return output and unemployment to tolerable levels within the next two years." Instead, the unemployment rate is likely to rise to 10 percent by 2010. Obama's package amounts only to around 3 percent, annually, of GDP in a $13 trillion economy. Levy's analysis calculates that it would require federal deficits of 8 to 10 percent of GDP--$2 trillion or more--to reverse the economic contraction. And yet, the institute observed, it is inconceivable that this level "could be tolerated for purely political reasons" or that the United States could sustain the rising indebtedness without terrifying our leading creditors, like China.
Stimulus alone by a single nation will not work, in other words, given the distorted economic system that Obama has inherited. The stern warning from the Levy analysts and other skeptical experts is that the United States has no choice but to undertake deeper systemic reforms right now, rather than wait for recovery. Will Obama have the nerve to tackle these fundamentals? To do so he would have to abandon some orthodox assumptions about free trade and private finance that he shares with his economic advisers.
The most obvious and immediate obstacle to systemic change is the dysfunctional financial system. It remains inert and hunkered down in self-protection, despite the vast billions in public money distributed so freely, no strings attached, in the last days of the Bush administration. We will learn soon enough whether Obama intends to start over with a more forceful approach. Obama and his advisers are eager to get another $350 billion in bailout funds, but they have remained silent on whether this will finance a government takeover of the system. Without such a move, the taxpayers will essentially be financing the slow death of failed institutions while getting nothing in return.
The most complex barrier to recovery is globalization and its negative impact on the economy. Given our grossly unbalanced trade, we have kept the system going by playing buyer of last resort--absorbing mountainous trade deficits and accumulating more than $5 trillion in capital debt to pay for swollen imports, while our domestic economy steadily loses jobs and production to other nations. Renewed consumer demand at home will automatically "leak" to rival economies and trading partners by boosting their exports to the US market--which subtracts directly from our GDP. This is the trap the lopsided trading system has created for recovery plans, and it cannot be escaped without fundamental reform.
To put it crudely, Obama's stimulus program might restart factories in China while leaving US unemployment painfully high. In fact, some leakage may occur via the very banks or industrial corporations that taxpayers have generously assisted. What prevents Citigroup and General Motors from using their fresh capital to enhance overseas operations rather than investing at home? The new administration will therefore have to rethink the terms of globalization before its domestic initiatives can succeed.
A global recovery compact would require extremely difficult diplomacy but could be possible because it is in everyone's self-interest. The United States could propose the outlines with one crucial condition: if the trading partners are unwilling to act jointly, Washington will have to proceed unilaterally. A grand bargain could start with US agreement to serve once again as the main engine that pulls the global economy out of the ditch. That is, the United States will have to continue as the buyer of last resort for the next few years, and China and other nations will have to bail us out with still more lending. In the short run, this would dig us into a deeper hole, but the United States could insist on a genuinely reformed system and mutually agreed return to balanced trade, once global recovery is under way.
Congress can enact the terms now--a ceiling on US trade deficits that will decline steadily to tolerable levels, as well as new rules for US multinational enterprises that redefine their obligations to the home economy. Unlike in other advanced nations, US companies get a free ride from their home government when they relocate production abroad. That has to change if the United States is to reverse its weakening world position. Tax penalties plus national economic policy can drive US multinationals to keep more of their value-added production at home. These measures can be enforced through the tax code and, if necessary, a general tariff that puts a cap on imports. Formulating these provisions now for application later, once the worst of the crisis is over, would give every player the time to adjust investment strategies gradually.
President Obama and his team may at first scorn the notion of saving the world while negotiating a bailout for the United States. They will be reluctant to talk about reforming the global system by threatening to invoke emergency tariffs. But we are in uncharted waters. Impossible ideas abruptly begin to seem plausible. Six months from now, if the Obama recovery does not materialize, the president may discover he has to reinvent himself.

JFK - We choose to go to the Moon, full length

"We choose to go to the Moon"

As we sit at the precipice of a new era of exploration, I thought it appropriate to revisit the original inspiration and rationale for the first lunar exploration program as so eloquently stated by John F. Kennedy. The original speech by JFK was held in Houston, TX at the Rice Stadium in the fall of 1962.

"Many years ago the great British explorer George Mallory, who was to die on Mount Everest, was asked why did he want to climb it. He said, 'Because it is there.' Well, space is there, and we're going to climb it, and the moon and the planets are there, and new hopes for knowledge and peace are there. And, therefore, as we set sail we ask God's blessing on the most hazardous and dangerous and greatest adventure on which man has ever embarked."

-John F. Kennedy, Rice University, Sept. 12, 1962

The Dave Brubeck Quartet - Take Five (1961)

a little Classic Jazz

Walter Cronkite announces death of JFK

WALTER CRONKITE,LEGENDARY JOURNALIST 1916-2009 DIES AT 92

SONGS OF THE SURROUNDED MUSIC VIDEO

THEY WERE SURROUNDED BY THE HOLY SPIRIT AS THE ECHOES OF LIFE INSPIRED A GENERATION IN SONG!




There are groups and quartets. There are trios and also the endless list of grand Primadonnas that grace the halls ans sanctuaries with splendid song and melody, but there is a Choir that holds a true sentimental place in the heart of our family. This true sentiment has been strengthened through the years, with the loving echoes of songs and praise and worship to a faithful God.



These were songs that were filled with power and great blessings. They were songs of conviction and devotion. The singers were not just engaging in an empty tune and that is what distinguishes the beloved Choir; "Echos De Vida"! The very name of this Choir serves as a legendary metaphor for what they have become. The Choir that we have chosen to honor in this feature is the official choral body of the beloved "Sinagoga" located in Harlem, New York. This grand Choir was formed in the late 1940s, by a group of devoted people that were filled with the Holy Spirit.During the early 1950s, a tan, majestic woman directed the Choir in its infancy. Her name was Sister Valdez. Sister Valdez and her assistant,by the name of Pio Gautier casually led a group of God-fearing singers and slowly began to form the Choir that would go on to edify the lives of many generations. These early members gathered to rehearse the sermon in song for the Sunday services. The Choir; "Ecos de Vida" was formed in the late 1940s and was first directed by Sister Valdez. The Choir was very close to this short and tanned servant of God.. She was very stern and serene, at the same tie. Many described her as the type of person that could get things done with a heavenly ease. Sister Valdez was deeply committed to the choir. There were times when Choir members began to talk and giggle at rehearsals and this Woman of Prayer, lowered her head in solemn meditation. she would not say much, for this action was sufficient for the choir to get at attention and back into business. a tear would come down her cheek if there was any mumbling. The Choir had so much respect for this woman, that they would follow her instructions to the letter. sister Valdez led the choir for many wonderful years. she set the stage for the ongoing tradition of the Choir that she loved. the Choir was then, directed for a brief time by sister Gloria Pena. Sister Valdez had completed her long tenure and the Choir recognized her long service and devotion to the musical ministry. Sister Valdez had an Assistant in Brother Pepe Gauthier, who helped her with the Tenors and the Basses.The Choir; "Ecos of Life" of the 1950s sang with deep fervor and reflected their devoted lives in song, for the choir prepared long and hard in the message and harmony of the musical numbers. The Choir prayed before every song and it became an enduing custom. This procedure led to place the Choir and the congregation in true communion for the delivery and preparation of a blessing. This Noble Choir has shown the consistency, through the long, turbulent years.The early years set the stage for an enduring age of musical triumph. The Holy Spirit surrounded the early singers and the congregation would be swept up in thunderous adoration and praise. The choir sang just moments before the Sunday sermon and cleared a path between the devotion and the evangelical message of the evening. The choir would come marching down the long corridors, with the ladies wearing their well-pressed black skirts and glossy white blouses.They wore black tie ribbon-laces around their collar. The men wore black suits and ties.The Choir; "Echos of Life" formed a now-familiar circle in front of the original Sinagoga in 109Th in New York. Among the early choir members of the 1950s were Felicita M. Serrano, Nieves Bosch and a very young Joaquin Maldonado. There was a young man that was preparing himself in the academic and the musical world. He was quickly becoming involved in the church and he was destined to direct the choir. In the early 1960s, Raul Gonzalez led the choir to new heights and God blessed the musical ministry with a string of triumphant deliveries, for they were surrounded by the spirit of the Lord The majestic echoes reverberated throughout the large new Temple on 125Th St. each Sunday Evening. The Tall man came up to the piano and directed the Choir to stand. The familiar scene was spectacular and certain children could recall the choir, moving and resembling a long-winding "train" as they positioned to the platform that overlooked the congregation.It was now the early 1960s. The Choir; "Echos of Life" was now singing the introduction to the radio program of the church; "The pentecostal Hour on WBNX in New York. "Estad por Cristo firme" ("Stand up, stand up, for Jesus") God was truly blessing this choir and many new selections were being added to their growing repertior. Raul began to coach the voices with weekly intensity. The late Choir member Felicita M. Serrano, lovingly recalled the many times that Raul would exercise their voices with a continuous scale of La-La-La-. this was a repetitious vocal exercise that as designed to strengthen and refine the vocal range and quality. Deep fervent prayer was never compromised. All of the members were God-fearing people that lived the daily life of true devotion. They also had deep respect for their director. the Choir was now able to sing in other churches. There was an evening where the selected song of the day did not really go according to plan. It was the Latin classic; Propter Magnum Glorium".The Choir had rehearsed this number for many weeks and Raul was certain that they were ready. some choir members recall that night as the choir began to sing this selection. They were overlooking a large Hall with overhead balconys that join in both ends of the auditorium. This was the evening that the sopranos went one way and the Tenors went another way. fortunately the congregation did not notice, for it was sung in Latin. Carmen Ortiz, Raul's sister laughed as she recalls the event. everything was going great, but at the last verses, the four singing sections went in different directions. The Tenors were on left field when they should have been in the right. The Choir survived this evening and went on to see many other moments, some great and others that were memorable.The Choir was now singing with a heart-filled conviction. They had been testedby fire. They had tasted the experience of scorn and ridicule, they hadexperienced the painful realities of life and now the echos of that devoted lifewere resounding in song,The multitude in the grand sanctuary froze in solemn communion as the great man sitting high at the altar, gazed towards the Choir that was now in the front of the pulpit. The Pastor was pleased with this musical ministry. He was very proud of his Choir. Raul, the tall, dignified director began to play the choir introduction for the choral entry The singer's eyes were now on Raul Gonzalez. Raul would direct with his eyes as his fingers were methodically engaged with the powerful piano chords. The sounds of Hallelujah reverberated throughout the great Hall as the choir echoed their rendition of the beloved classic. Rev Abelardo Berrios was so moved, that on the night that the choir sang the Hallelujah chorus. He asked the Choir to come back to the platform and sing it one more time. The Choir stood up and sang. They gave an encore, much to the delight of the Pastor and the congregation.The Choir was well-disciplined and versed in their selections, for they toiled for many hours at long and hard rehearsals every Thursday evening on the 2nd floor of the sanctuary. Raul was a very systematic Director. He was very stern and meticulous. He wanted the chords to be as sharp as is trumpet. There were moments of levity and the young ladies would find something to giggle about. Raul would stop the rehearsal and turn to the ladies and with a stern countenance, declared; "You should all be crying!" ("Debieran de estar llorando!") (TO BE CONTINUED) (An ongoing Series)
Posted by THE FAMILY TIMES INTERNATIONAL at 1:23 PM 0 comments

Ann Margret talks about Elvis

Elton John - Live Like Horses (Live)

Music by Elton John
Lyrics by Bernie Taupin

I can't control this flesh and blood
That's wrapped around my bones
It moves beneath me like a river
Into the great unknown

I stepped onto the moving stairs
Before I could tie my shoes
Pried a harp out the fingers of a renegade
Who lived and died the blues

And his promise made was never clear
It just carved itself in me
All I saw was frost inside my head
On the night he said to me

Someday we'll live like horses
Free rein from your old iron fences
There's more ways than one to regain your senses
Break out the stalls and we'll live like horses

We're the victims of the heartbreak
That kept us short of breath
Trapped above these bloodless streets
Without a safety net

I stood in line to join the trial
One more customer of fate
Claimed a spoke in the wheel of the wagon train
On the road to the golden gate

On the flat cracked desert I jumped ship
It just made sense to me
I've spent too long in the belly of the beast
And now I shall be free


Duet version with Luciano Pavarotti:

I can't control this flesh and blood
That's wrapped around my bones
It moves beneath me like a river
Into the great unknown

I stepped onto the moving stairs
Before I could tie my shoes
Pried a harp out the fingers of a renegade
Who lived and died the blues

La promessa non fu chiara
S'erra solo impressa in me
Vidi solo il gelo dentro me
Quella notte dise a me

Vivrem comme cavalli
Liberi dai recinti di ferro
Che piu non voglio
Rinnegare i sensi
Su dai fuggiam
Vivrem comme cavalli

We're the victims of the heartbreak
That kept us short of breath
Trapped above these bloodless streets
Without a safety net

I stood in line to join the trial
One more customer of fate
Claimed a spoke in the wheel of the wagon train
On the road to the golden gate

Nel deserto la nave abbandonai
Per me aveva senso
Son stato troppo tempo nella bestia
Ed ora saro libero

Someday We'll live like horses
Free reign from your old iron fences
There's more ways than one to regain your senses
Break out the stalls and we'll live like horses
Someday

Liberi dai ricenti di ferro
Che piu non voglio
Rinnegare i sensi
Su dai fuggiam
Vivrem comme cavalli

President Obama on the Fourth of July

The President honors military heroes and their families during a barbecue on the South Lawn of the White House. On this nation's celebration of independence, he also commends the transfer of control of all Iraqi cities and towns in Iraq's government to Iraqi Security Forces. July 4, 2009.