Saturday, November 15, 2008

Teachers' Retirement Fund and the Financial Crisis

The fund managers claim that they will be able to maintain current benefits but . . .

AUSTIN — The Teacher Retirement System of Texas has seen about a $25 billion market value drop since Sept. 1 in the nation's widening financial meltdown, making additional benefits next year for retirees appear unlikely.


Fund manager Bill Harris says, "These are short term conditions. We are a long-term fund."

I sure hope he's right.

Friday, November 14, 2008

Saturday, October 18, 2008

Creationists Making Gains in Texas

The Discovery Institute is trying to do for Texas what they did for Kansas and tried to to for Dover, Pennsylvania. They are trying to replace the science of evolutionary biology with a new version of "intelligent design." Story in the Houston Chronical.

Monday, September 22, 2008

About those financial markets

This is what happened.
This is what the Bush gang wants to do about it.

As though the chief function of this nation is to shovel money into the insatiable maw of financiers. I don't think we would collapse if these financial houses went under. I think we should build an alternative economic model to this one that has failed so miserably and, in the process, has created the worst income inequality in U.S. history. Tell me this: what is so great about AIG et. al.that they must be saved from themselves?

Saturday, September 20, 2008

Birds in her Freezer

A widow in my neighborhood--let's call her Marie--walks her miniature schnauzer twice a day. I made her acquaintance on the street when we were both walking our dogs. She is slightly bent by scoliosis, and the walking helps her. She probably knows more about this neighborhood than anyone else because she talks to people she sees on the street while walking with her dog. She knows the soap opera versions of our private lives and manages to discuss these intimacies with some discretion and taste.

Her husband, before he died, had been a first-rate yard man in addition to his job as curator at one of Houston's most important museums. Their house and lawn literally glowed with sculptured life. A particularly important chore that the husband had previously handled with great competence and sensitivity was the burying of dead birds.

Marie kept pet birds of the smaller sort, finches, lovebirds and such. Inevitably, some died. Recently, a finch died, and the chore that had been handled so competently and sensitively by her husband now fell to her. She simply was not up to the task, so she put the bird in the freezer to keep until she got up enough gumption to bury it properly. A few days later, she picked up an injured sparrow and, failing to nurse it back to health, put it in the freezer along with the finch.

Marie has been without electricity for over a week, and the birds are now decomposing in plastic bags on the porch. Her sister explained to her how dead animals release a gas that permeates plastic. That is why her freezer still reeks even after the birds' removal. Marie's 83-year-old mother had chickens in her deep freeze. The excrescence is still there, and she doesn't know what to do with it. They think she's going to have to throw out the entire freezer. It reminds me of something my wife had told me. The insurance companies, she says, now have an exclusion clause for refrigerators because, after Katrina, so many folks just duct-taped their Fridgidaires shut and put them by the street for pickup. Apparently, you can't clean the stench of rotten flesh out of a warm freezer.

Marie went to the store for baking soda to put in her freezer, and she thought that she might get some for her mother, as well. She was disappointed to find the baking soda shelf bare not only at that supermarket but also at the two others she checked. It seems that Ike's pathway, from Galveston to parts of Kentucky and Ohio, is now a sump of moldering flesh, held partially at bay with boxes of baking soda.

I discussed these things with Marie in the shared and awkward knowledge that I live in air conditioned comfort with Internet access while she hunkers in the dark trying to read by the failing light of what she describes as a Ray-O-Vac.

Update: my mother says coffee grinds are helpful with de-stinking a freezer.





Wednesday, September 17, 2008

Ike's Aftermath

The power went down briefly this morning but has been steady ever since. Internet access is as stable as the power allows. This morning I went to the Central Mkt. at Weslayan and Westheimer. They were well supplied. The cashier who helped me was from Ft. Worth. I remember from a conversation that I had with someone on the Thursday preceding landfall that the Central Mkt. (an H.E.B.) store, would remain open to serve the community. My cashier from Ft. Worth said that the backup generator had failed, and they had only been open since Tuesday. I definitely remember than an H.E.B. on the Southwest Frwy (I59S) was one of the first stores to offer ice. The drive, though short, was tedious without traffic signals but most drivers yielded to each other with at least a modicum of grace. In any case, if you can get to the Central Mkt., you will leave well supplied, as long as you have enough gas to get there and money to spend when you do.

North Houston and Harris County, where most of my students live, has a large population without the money or gas to get to the Central Mkt. The Houston Chronicle Online has a link to information about what supermarkets are open. I didn't test it. I understand that some McDonalds are open, and people are going there for food, air conditioning, and to charge their cellphones and laptops. FEMA PODS look pretty scarce out there, as does electric power. Everyone that I am in contact with is faring OK, and I presume prospects will improve there over time. I hope they improve rapidly.