Brexit

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05/13/2016

Brexit

I read the Guardian (on the web) (without paying for it), and it seems every day there is a lead story that Brexit will bring this or that negative consequence (and, boy, are they negative consequences). And tonight’s headline is:

“Brexit would bring stock market crash and plunging house prices.”

Which makes me think: isn’t that, in the interests of equality, good? People who use their money to make more money are going to get less for it. And people who want to buy houses are going to be better able to afford them. Equality.

I have been horrified by the idea of Britain divorcing from Europe. But this… seems… good? (Comments, please.) (Garrin?)

[Footnote: Why does English have the verb spelled “read” to mean both the present read and the past [red]. Doesn't it need to get its act together?]

--Julian

Posted at 07:21 PM in Current Affairs, politics | Permalink

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Lovely! Housing becomes cheap and we all live forever happy in a land of milk of honey. Like Japan post-bubble.
Always consider consequences of actions, immediate and long-term. Does Britain have a housing crisis and property bubble? Yes. Is that caused by EU membership? no. What causes it? Economic activity (growth), over incentivization of property speculation (rewards of speculation are too high, too unfettered), low interest rates (to fight deflation, due to austerity measures: government cuts), quantitative easing (ditto). Oh, and the lax fiscal rules of the UK (as with Panama) make it very attractive for the poor souls looking for a place to park their money to avoid economic crisis, tax, public scrutiny, or political agendas (especially when it comes from Greece, Russia, China, Middle East).
Growth and low interest rates are connected and seem counter intuitive in one economy, and they are, but growth, as in the EU and US are locally variable. Low in Detroit and Middlesbrough, high in New York and London.
Consequences. Property bubbles exploding put property owners into negative equity. Those parts of the UK with the highest negative equity now are Northern Ireland and parts of Wales. These are not the richest areas, or the areas where rents and property prices have been the highest, but sudden drops in prices mean complete ruin for the non-rich. The rich can always bounce back. The working poor, or lean middle class usually have only enough capital for one investment (property) which cannot be hedged.
Solutions? Government measures to reduce the housing bubble (supply side and demand, by speculators), helping councils to build homes rather than forcing them to sell them off (which is now govt policy announced int he last budget), regulating lenders so that only those with the means can borrow (short-term pain, longer term gain).
EU membership would lead to a sudden drop in property values based upon a loss of confidence in the UK economy, in the same way that the Pound would probably plunge, and a lower pound might seem attractive, until you consider the UK imports most food and energy supplies, leading to inflation during a period of economic decline: stagflation of the 1970s.
Leaving the EU makes sense in terms of local governance, true democratic values and other reasons, but at a price for other reasons of principle. But the economic case is a joke.
As the German comedian Henning Wehn commented, Britain before it joined the EU must have been a paradise, where people only worked three days a week (Edward Heath reference there), and where we enjoyed romantic candlelit evenings at home.
https://www.youtube.com/watch?v=AoM7_gDQenw

And the German ZDF comedy show making fun of Britain's possible EU exit:
https://www.youtube.com/watch?v=ZiH3L3XpJHY

When the German public broadcaster is able to make lots of comedy fun out of Britain's democracy you know something is wrong.

Posted by: Garren Mulloy | 05/13/2016 at 09:57 PM

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Books David Finished in 2025

Cherryh, C.J.: Precursor
I like to read some science fiction every now and then. I especially like science fiction in which the science deployed draws on more than the technological side of things: rayguns, spaceships, and so on. That's why C.J. Cherryh's Foreigner books are so satisfying. The (soft) science at its root is anthropology, or maybe something like intercultural relations, but one would be hard-pressed to think of that as a science. The cultures in these novels (so far) are human (two strands of humanity whose cultures have diverged) and aliens called Ateva. When cultures interact, diplomacy is called for, and that's another pleasure of these novels. They follow a character called Bren who is one of the few humans fluent in the Ateva language and who, therefore, handles all the important negotiations between the Ateva and humans. So what we have is soft science fiction with an ample serving of behind-the-scenes diplomacy. I'm here for it.

Books Julian Read Recently

Alice McDermott: Someone
The daughter of a New York working-class family, growing up mid-century, recounts her life in shards of recollection. Razor-sharp observation and disarming honesty make this a pleasure. (****)
The Best of Saki: (selected by Tom Sharpe)
What fun these very short stories are! The humor is pointed up by the gloriously overblown names of the protagonists in these miniature gems of character and situation in which (as Tom Sharpe, editor of the edition I read, puts it) “ingenious mischief… triumphs over pomposity.” The fun is in the twists: you never quite know how a story is going to get to its inevitably satisfying conclusion. And if it sometimes reflects the prejudices of its time (early 1900s), it’s an added pleasure to realize the (albeit still limited) social progress we’ve made since then, and to hope that our current fiction will feel as likewise antiquated in its prejudices and mores to future generations. (Thank you fellow Blockhead David for the recommendation.) (****)
Haruki Murakami: What I Talk About When I Talk About Running
Reading this, I learned that some people who run, cycle or swim competitively have elations, satisfactions and frustrations at the cost of excruciating pain in the striving to beat themselves and others. I enjoy cycling enough to average 600 benign kilometers a month, but the training for marathons and triathlons that Murakami describes is another world, alien and too often horrific: leg cramps, inability to walk, lingering depressions…. Ouch, no thanks! How different we exercise-seeking humans can be from one another! (**)
Marjane Satrapi: Persepolis
This powerfully illustrated graphic novel set in 1980s Iran is an account of growing up in a war-torn country, and, as a girl, under religious fundamentalism. And then, in a long coda, trying to navigate life in Europe as a young woman. The whole is devastating and moving. At the same time, it’s a truism that honesty unlocks hilarity, and there is rich humor to be found here in some of the darkest places. (***)
Alice McDermott: Absolution
In this absorbing novel, the wife of a US engineer dispatched to Vietnam in the Kennedy/Diem early 1960s recalls expat life centering on various attempts at altruism. It is masterful storytelling with vivid characters, inviting us to make up our own minds about how cynical or otherwise is one character’s description of that altruism as “a disappearing generation’s efforts at inconsequential good.”. (****)
Anne Enright: The Wren, The Wren
Why didn’t I get into this portrait of an Irish family/celebration of nature? The scattered structure: first person/third person? The dark places it sometimes went: self-harm; child abuse; animal abuse? Because it seemed the author was clearing a bunch of disparate good ideas out of her notebook? For this reader, in spite of its verve and sensitivity and surprise, it didn’t hang together or really go anyplace. (**)
Paul Lynch: Prophet Song
I don’t note books I don’t finish, but here’s an exception: a finely written account of a family facing totalitarianism and war. It was relentless: I continued reading as a training in empathy, but it was finally too upsetting to continue. The horror is knowing the events of the story are being lived in Ukraine, Palestine and anywhere migrants are in flight.
Chris Broad: Abroad in Japan
A serviceable entry in the foreigner-fish-out-of-water/my-adventures-learning-to-love-Japan genre. The UK author gives it a high taboo-word-per-page ratio, with some variants that must have arisen since I lived there ("Double fuck!"??). (**)
Barbara Kingsolver: Flight Behavior
An absorbing novel about an east-coast rural family and a surprise ecological event. Mesmerizing, entertaining, thought-provoking. (****)
Junot Diaz: The Brief Wondrous Life of Oscar Wao
A thrilling balls-to-the-wall account of a Dominican family in the US, and their prior life and later returns to the homeland, which – in its agony and ecstasy – is the real star of this tale. Laid back and electric, both. Superb. (First read 9 years ago, and almost totally forgotten.) (****)

Books Mark read recently

Scanlan, Kathryn: The Dominant Animal: Stories
This is a book of super-short fiction. Of the 40 or so stories, most are less than two pages. Nothing in the writing here is beautiful or kind, but somehow I whizzed thought it all. Some stories leave out points that would have made them more accessible. What the heck happened? A lot of the stories end on a sudden whim of observation and leave one wanting to read more. Most of the stories focus on a negative experience with a male, with strange detail, and after finishing a story, I often wanted to take a hot shower to get clean. I did enjoy "Design for a Carpet" and "Mother's Teeth." (**)
Woodrell, Daniel: Woe to Live On: A Novel
Confederate soldiers on a journey to fight Yankees in Missouri and Kansas. Woodrell's voice in this novel is similar to Cormac McCarthy's. Lots of brutal killing and torture and the story seems to float along on southern dialog and an internal monologue of fear by the speaker. There are moments of occasional humanity, but for the most part the plot is a thin gruel of spilt blood, wandering, waiting, and revenge. (***)
Munro, Alice: Hateship, Friendship, Courtship, Loveship, Marriage
There are three standout stories in this very fine collection by Alice Munro. She has a real knack for creating a variety of believable characters. The title story was my favorite: two teenagers pull a sour trick resulting in a surprising ending. In the story "Queenie" we see a young woman scrambling to make her way in the world, using a bad marriage as a way to make some progress. The final story, "The Bear Came Over the Mountain" veers off into occasional long-winded reflection, as one man struggles with the loss of his wife to Alzheimer's. Munro is a master story teller. (*****)
Waters, Sarah: Fingersmith
Sarah Waters: Fingersmith Such a good story: the get rich scheme of a handsome scoundrel twists and turns into... Two women in the story are quite duped into role playing. A lot of playful sex is talked about, but not much happens in the way of happiness or fulfillment. As always, Waters is right on target with the voices and the atmosphere in this London area thriller. (*****)
Barry, Sebastian: The Temporary Gentleman: A Novel
What a sad story. This novel takes place on the Gold Coast in Africa, where an Irish soldier/engineer recounts his life growing up near Galway and Sligo. Back and forth we go between Ireland and Africa. Like an unseen shadow, in Ireland, what slays the characters in this novel is alcohol. Back in Africa, the memories of the homeland, and the attempt at living again are equally daunting foes. Excellent story telling. (****)
Donna Tartt: The Little Friend
Donna Tartt's second novel does not disappoint. The story of a young girl, Harriet, who seeks to revenge the death of her brother, Robin. The backdrop is a small town in Mississippi, and the goings on of 4 or 5 sisters, whose lives all changed with the murder of young Robin; hung from a tree. Harriet wants to solve the mystery. Who killed him? She gathers clues, and encounters the wrath of the local druggies. Quite a page-turner, and like Tartts' other two novels almost nothing is left out or glossed over. There were times in the novel where I felt her writing fell short; places where I couldn't actually see what was happening from the writing, as is the case when she encounters the villainous brother, Danny Ratliff on top of the water tower. The writing perspective seemed off (who was where and when?) as a battle ensued. But one is so caught up in the narrative we read on and on. Also, who is the little friend who is suggested in the title? Harriet? Hey? Robin? I don't think it is the best title she could have thought of for such a wonderful and awful story. (****)
Strout, Elizabeth: Olive, Again: A Novel
A wonderful sequel to an earlier collection of stories, Olive Kitteridge. Clearly, Strout is a masterful writer; each of the characters in her stories I can see clearly in my mind. These stories span Olive's life from middle-age to old-age, with thoughtfulness, kindness, reflection, and regret. In a general way of summing up, this collection tells us that life sends us problems that are most times not of our own making-- and that we do our best with what we have to work with, and what we think is best to do at the time. The prevalence of loneliness that comes with old age is a dominant theme in the later stories here. Read this book. (*****)
Strout, Elizabeth: Olive Kitteridge
It's been more than a few years since I first read this wonderful collection of stories. As a prelude to reading her next collection, Olive, Again, I read these stories again. Wonderful insight into a community in Crosby, Maine and how they encounter each other. Henry and Olive Kitteridge function as the main characters, and each story includes them if in even a small way. Prior to my second reading, my favorite story was The Piano Player, but this time I enjoyed Incoming Tide most. Her stories can veer into a local gossipy mode, yet there is always tension lurking in the next sentence. (*****)
Alan Hollinghurst: The Folding Star: A Novel
Edward Manners goes to Belgium to teach English to two boys who are getting below average marks in high school. When not teaching, he helps out at a museum focused on a Jewish painter who was hidden from the Nazis during WWII. Manners falls in love with one of his students, and a lively adventure ensues as Manners undertakes to seduce him. The narrative is fun, at times cynical of gay life, and there is a lot of sex. One also learns a good deal of personal history of growing up in post-war England and Belgium. Hollinghurst is a brilliant writer, and I learned many new words. (*****)
Alison Moore: The Pre-War House and Other Stories
After reading the Booker Prize nominated The Lighthouse, I was excited to read this earlier collection of 24 short stories from Alison Moore. They are a little underwhelming; as if written by a grad student. Moore is great at creating tension and awkward scenes. She is an artist when painting a picture of place and atmosphere. Some stories are creepy, and one longs for a hot bath. However, I found them to be a bit formulaic. By the third or fourth story, I was keeping my eyes open for the one clue in the narrative that I would return to in climactic ending sentences. I like Moor's sparse style, and I will read more of her work (written after The Lighthouse) in the future. (***)

Films Julian Watched Recently

The Great Escaper
An aged veteran makes his way to a WWII remembrance ceremony in France, while his wife relives her own traumatic wartime on the home front. This modest film -- acted with commitment -- builds toward the suggestion that war is a tragic waste. Humanitarian propaganda of the best sort. Tissues mandatory. (Theater) (****)
d: Tran Anh Hung: The Taste of Things (2023)
France, the late 1800s: food is prepared in a manor house kitchen to the level of art. It’s a look – awe-inspiring and sometimes amusing -- into the world of the gourmand, set in the context of a bracing love story. Just as cooking can’t be rushed, the movie takes its time, but -- in editing, camerawork, soundtrack, dialog, performances -- it mesmerizes. (DVD) (****)
d: Wim Wenders: Perfect Days
This tale of days in the life of a Tokyo blue-collar worker makes a credible stab at the perhaps impossible task of depicting the extraordinary within the ordinary. Rich. Insightful. Life-affirming. And I learned to empathize with people and places I normally ignore, so there was that, too. (*****)
Killers of the Flower Moon
The 1920s: the oil-rich Osage Nation Reservation in Oklahoma is awash with con-artists trying to grift a piece of the action. And the murders begin... The acting is powerful: De Niro and Lily Gladstone are effectively subdued, leaving the histrionics to DiCaprio. Every frame of the bloated running time adds to the atmosphere, but a more disciplined director than Scorsese could have brought this story in at a reasonable 2 hours, saving the excess for a director’s cut or TV version. As it is, the initial horror is unrelenting and exhausting, making you wonder if you want to continue through the 206 (count ‘em; we did) minutes. (Streaming) (***)
Oppenheimer
This story of the man and the weapon is told with flair and imagination. It’s shattered into fragments of time and space for added mystery, suspense, impact and sometimes irony. Surprising and sometimes shocking. (I avoided the 3hrs-no-intermission at the theater, so was glad to see it on DVD.) (***)

Things NC Consumed Recently

F. Scott Fitzgerald: The Great Gatsby
More than forty years on since my last reading, this classic novel is remarkable not so much for its romantic longings as for its emphasis on American violence, its depiction of a country in which California hardly matters and its meeting of the Mid West and East Coast. Plus its succinct nine chapters, its elegant prose and its almost noirish tone: Tom breaking Myrtle's nose would seem to foreshadow Lee Marvin throwing hot coffee in Gloria Grahame's face in The Big Heat - and the use of flashbacks helps too. I'd like to thank the publicity for the recent film version and my current cold for sending me back to the novel (and my young self).
Isabelle Eberhardt
In 1904, Isabelle Eberhardt drowned in the desert, leaving behind, among other things, various writings in French (a novel, travel notes, a journal, short stories), Islam, Lake Geneva, a husband, debauchery in kif, sex and alcohol, and a small collection of male clothing, which she wore habitually, along with her man's name. The lazy say she was an early hippie, because of her nomadic, hedonistic life, and being the first one to die at 27. Lindqvist has her in a line from Villon, Baudelaire, Rimbaud, Celine and Genet. Her story can only get stranger and more fascinating. "In The Shadow of Islam", "The Passionate Nomad", "The Oblivion Seekers" and Annette Kobak's biography are one way in. You'll find there an apt fatal romanticism for vast desert spaces and a depiction of Islam to ponder. Among other things.
Listen to Britain - Humphrey Jennings
Terence Davies is surely right to say Listen to Britain is in part an attempt to define the nation on the eve of its being invaded. But that invasion never came. A little prematurely, Humphrey Jennings's film records what left later, with something messier, less defined usurping through the back door. Terence Davies is surely right to say Listen to Britain is one of the greatest things these islands have produced.
Patience (After Sebald)
Grant Gee's documentary uses a palette of pale black and white, maps and talking heads to comment on W.G. Sebald's The Rings of Saturn, an account of his walk through Suffolk. Unlike the book, where a variety of genres (and photographs) coheres to make a recognisable whole, the film suffers slightly from a lack of direction. It is too specific to serve as an introduction and lacks an overriding arc that might describe a thesis. However, with its archival footage, interviews with the author and shots of the route taken, it is essential viewing for those already in thrall to all things Sebaldian - even if the ending, alas, veers close to Conan Doyle and fairies-in-the-garden territory.