Talking Points

Although we might not find Moody's as trustworthy as before, (since Moody's is the credit rating service that, oops, miscalculated the risk on those derivatives based on subprime mortgages that are going sour), try this set of "facts" and keep them handy for conversations with Republicans. They are from the April 2009 Harper's Index:

• Estimated amount by which the U.S. GDP increases for each additional dollar of tax cuts: $1.03
• Amount for each additional dollar of infrastructure spending and food stamps, respectively: $1.59, $1.73

So if anyone doubts the advantages of government spending over tax cuts, refer to these items.

Also found in the latest issue of Harper's is an essay by Thomas Geoghegan called Infinite Debt. (He ran for Rahm Emanuel's seat in Congress and lost.) In it he looks at the real reason for the collapse of the financial system: the loss of collective bargaining, the shift from manufacturing to financial services because of the gigantic profits reaped, and the infinite consumer debt. Notice that there are no such thing as usury laws anymore. Credit cards can charge insane amounts on trailing balances. They don't want people to pay, because then they don't make these horrendous profits. Instead of placing a 35% cap on credit card interest rates, he suggests it should be at 9%. Isn't that enough profit?

Foundlings--How We Spend Our Money

Last night a group of us went to a gallery opening at The Box Gallery, 256 Sea Cliff Avenue, Sea Cliff, NY, featuring these delightful sculptures created by Robbii Wessen, a talented and "pun-driven" graphic artist from Flushing. The sculptures are called "Foundlings" and they are constructed from quirky old things placed into and around boxes. Each structure is perfectly balanced. Robbii's training as a graphic artist is evident by the symmetry and violation of the rules of symmetry. Some made me laugh. Some reminded me of things gone by. Others drew me into a very quiet place.

My husband and I were attracted to two pieces especially. Like everyone else we know, money is tight. At times like these, how we spend money becomes a moral decision. I prefer to keep money local, away from the corporations, and directly into the hands of people we know in our communities. So we purchased one of the pieces, and our friend Christine bought another.

On the way home we had a discussion about the holidays. Instead of exchanging gifts this year, perhaps we should just collect food for donation to the food banks that are being strained by intense demand. Suffolk County has the highest foreclosure rate in New York State. Nassau County has the fourth highest number of families removed from their homes. Perhaps we should empty our closets and donate clothing to local shelters. Perhaps we should each go through our homes and discard and recycle the things we don't need, things that might make a real difference for someone close by in need. At sixty, I don't need very much anymore although having been groomed in a consumer culture, I have desires, that's for sure. How should we ethically examine our desire for "stuff" in these times?

No matter what the economy, we need beauty in our lives. We need music and creativity. The best part of living near a great city like New York is our museums. Today I am going to the Modern to see the Van Gogh show in between two plays.

The "Foundlings" show runs through December 5th at The Box Gallery. If you miss it on Long Island, Robbii's "Foundlings" will be in the window of the Ansonia Pharmacy at 442 Avenue of the Americas at 10th Street, in New York City from December 16th through January 27th.