September 30, 2016

Fed’s Yellen Wants to Be Able Buy Stocks; Press Mostly Yawns, CNBC’s Santelli Goes Off

On Thursday, Federal Reserve Chairman Janet Yellen suggested in a videoconference call, as translated into plain English by the Wall Street Journal, that “there could be benefits to allowing the central bank to buy stocks as a way to boost the economy in a downturn.”

This advocacy of what would be a serious and perhaps permanent move away from market-based allocation of resources and risk to a government-created entity directly intervening and affecting market values — potentially, in effect, exercising control over the means of production — got a brief writeup at Reuters. The Associated Press made what Yellen said almost an afterthought in a dispatch which was primarily about Fed’s “diversity” efforts in its own hiring practices. Then on Friday afternoon, Rick Santelli at CNBC cut though the fog with what the contrarian blog Zero Hedge has described as “3 minutes of brutal reality” blasting the idea.


Slate Writer: There Are ‘Defensible Reasons’ to Keep 2015 Murder Spike Out of the Headlines

Official crime data released by the FBI earlier this week reveal that nearly 11 percent more Americans were murdered in the U.S. in 2015 than in 2014.

Leon Neyfakh at is only secondarily interested in what the just-released stats say about the direction of public safety in the nation. What’s far more important to him is making sure his readers know that “the FBI’s numbers do not prove Donald Trump right,” and that there are “defensible journalistic reasons for keeping that 10.8 percent murder spike out of our headlines.” I suspect the author would deny it, but if it is in the headlines, people might take their media-provided blinders off and learn that the Republican presidential nominee really is right — and we can’t have that.


Friday Off-Topic (Moderated) Open Thread (093016)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

Positivity: At the heart of the Church, EWTN launches new Rome office

Filed under: Positivity — Tom @ 5:55 am

From Vatican City:

Sep 29, 2016 / 03:02 pm

The EWTN News Rome Bureau is now is just minutes from St. Peter’s Square, having launched its new office on Wednesday. The occasion sparked reflection on Mother Angelica’s legacy and the media network’s mission to serve the gospel.

“Today with this launch we step out in a new chapter in how we can serve our EWTN family with information from Rome,” Michael Warsaw, president of EWTN Global Catholic Network, told CNA Sept. 29.

The new office is on the Via Della Conciliazione in the shadow of St. Peter’s Basilica, the dome of which is visible from the building’s rooftop terrace.

“You can’t help but be here in Rome and in this place, so close to St. Peter’s Basilica, the tomb of St. Peter, and not be energized by that,” Warsaw said. “For all of us at EWTN that’s my hope, that this presence in Rome, so close to St. Peter, will energize us for the work of the New Evangelization in the years ahead.”

Monsignor Dario Edoardo Viganò, prefect of the Vatican’s Secretariat for Communications, blessed the new location in the presence of dozens of EWTN staff, supporters, and guests. Several hundred people gathered for a rooftop reception.

Among the guests were Syriac Patriarch Ignatius Joseph III Younan of Antioch, Cardinal Sean O’Malley of Boston, and Cardinal Raymond Burke, patron of the Knights of Malta. Other guests included Archbishop Georg Ganswein, prefect of the Papal Household; several other cardinals and bishops; U.S. Ambassador to the Holy See Ken Hackett and several other ambassadors to the Holy See; and members of the Vatican press corps.

The office includes access to professional recording studios on the sixth-floor rooftop, advanced technical infrastructure, and a much improved and spacious workspace.

Warsaw said the new Rome office “really positions the network in an even better way to be able to bring news and information from the heart of the Church to our audience around the world.” …

Go here for the rest of the story.