Posts filed under “Financial Press”

Quote of the Day: Knowledge, Science, Enlightenment

For those of us who dwell in that hypothetical construct known as reality, the following E.L. Doctorow keynote address — critical of ideological fundamentalism of all types — is a breath of fresh air.

Its from the April 2007 joint meeting of the American Academy of Arts and Sciences and the American Philosophical Society on the theme of "The Public Good: Knowledge as the Foundation for a Democratic Society"  titled "The White Whale."

Here is an excerpt:

"What does it say about the United States today that this fellowship of the arts and sciences and philosophy is called to affirm knowledge as a public good? What have we come to when the self-evident has to be argued as if–500 years into the Enlightenment and 230-some years into the life of this Republic–it is a proposition still to be proven? How does it happen that the modernist project that has endowed mankind with the scientific method, the concept of objective evidence, the culture of factuality responsible for the good and extended life we enjoy in the high-tech world of our freedom, but more important for the history of our species, the means to whatever verified knowledge we have regarding the nature of life and the origins and laws of the universe…. How does it happen for reason to have been so deflected and empirical truth to have become so vulnerable to unreason?
For some time now we have been confronted by a religiously inspired criminal movement originated in the Middle East that advertises its values by suicidal bombings, civilian massacres and the execution of arbitrarily selected victims by the sawing off of their heads. However educated, well-to-do and politically motivated the leaders of this conspiracy may be, they have invoked an extreme fundamentalist reading of their sacred text to mentally transport their rank and file back into the darkness of tribal war and shrieking, life-contemptuous jihad.

So that history, as we look to that part of the world, seems to be running backward, as if civilization is in reverse, as if time is a loop…

Apart from this uncanny synchronous spin, the domestic political fantasy life of these past seven years finds us in an unnerving time loop of our own making–in this country, quite on its own, history seems to be running in reverse and knowledge is not seen as a public good but as something suspect, dubious or even ungodly, as it was, for example, in Italy in 1633, when the church put Galileo on trial for his heretical view that the earth is in orbit around the sun.

I am not a scientist and don’t deal in formulas, but as a writer I would, in the words of Henry James, take to myself "the faintest hints of life" and convert "the very pulses of the air into revelations." That surely provides me with a line to unreason. And so when I read that the President of Iran denies the historical truth of the Holocaust, and when I hear the President of the United States doubting the scientific truth of global warming, I recognize that no matter what the distance they would keep between them, and whatever their confrontational stance, they are fellow travelers in the netherworld.

Two things must be said about knowledge deniers. Their rationale is always political. And more often than not, they hold in their hand a sacred text for certification.

The entire screed is well worth your time reading it. Joe Kernan, I am talking to you.


>

Thanks, Kitty.
>

Source:
The White Whale

E.L. DOCTOROW
The Nation, June 26, 2008 (July 14, 2008 print edition)   
http://www.thenation.com/doc/20080714/doctorow

Category: Financial Press, Politics, Science

The Atlantic on Rupert Murdoch

We looked at what Murdoch was altering at the WSJ not too long ago in Murdoch’s WSJ Changes Creates Opening for NYT, FT.

Rupert Murdoch: The Last Hope for Journalism?

Part I: Murdoch’s Methods

Parts II & III after the jump.


Previously:
Murdoch’s WSJ Changes Creates Opening for NYT, FT (April 2008)   
http://bigpicture.typepad.com/comments/2008/04/murdochs-wsj-cr.html

Source:
Mr. Murdoch Goes to War    
Mark Bowden 
Atlantic, July/August 2008      
http://www.theatlantic.com/doc/200807/murdoch

Read More

Category: Financial Press, Video

Who Killed Bear Stearns?

Category: Credit, Derivatives, Financial Press

Why Does -20% = Bear Market?

Category: Apprenticed Investor, Financial Press, Markets, Technical Analysis

No Fear

Category: Financial Press, Markets, Psychology

Read It Here First: VIX Says No Panic — Yet

Category: Contrary Indicators, Financial Press, Psychology, Technical Analysis

When Does GM Get Kicked Out of the Dow, part II

Category: Financial Press, Index/ETFs

Barrons.com: No War, Economy Expanding

Category: Economy, Financial Press, Psychology, War/Defense

Let’s Get Technical

Category: Contrary Indicators, Financial Press, Markets, Psychology, Trading

Not-Quite-a Linkfest

Category: Economy, Financial Press, Technology