Like a lot of people, I have been obsessed with reading about the bailout plan being debated in Congress. To say I am torn about it is an understatement. But the more I read about it, though, the less I like it. On one hand, I understand that we are a national and global economy. Therefore, the behavior of others impacts us – whether positively or negatively. In this sense, the plan is not just bailing out those in trouble, it is helping all of us. On the other hand, I am wary of the extent of power it gives to government and skeptical of the good that such a hand-over of power will do.
While Paulson’s initial demand of money with zero oversight was (in my opinion) unconstitutional, the current plan sets up oversight but leaves a lot of open questions. Who determines what mortgages to buy and which not to buy? How is their “true” value going to be settled? Which banks are we baling out and which are we not bailing out? These remain unanswered questions, primarily because answering them in the here and now would be impossible.
This brings me to my next point: the claim that this will unfreeze assets and make banks start lending again. Is this inevitable? Are we requiring banks to lend? What if the assets are not frozen but the depressed condition of the economy makes banks cautious and unwilling to lend anyway?
I am glad the new plan establishes oversight. I am glad that we are not shelling out $700 billion in one fell swoop. But I am still concerned that the plan simultaneously does too much and not enough. That it will be too great a grant of power and discretion and that this grant of power will be futile.
As I was writing this, I read that the plan failed in the House of Representatives. Nothing signifies my ambivalence more than my response. I am scared – because now it looks like there is nothing left to do but wait and watch the consequences of this failure. And who knows what the consequences will be? And I was not even in favor of the bill!!!!!
This situation reminds me of the Federalist-Anti-Federalist debates on the Constitution. The Anti-Federalists argued against the Constitution saying that it was too great a grant of power to the federal government and that the country was being scared into voting for it. It was a document which would prove harmful to the people and fear mongerers were forcing it through. The Federalists warned of the dire consequences if it was not adopted saying that the country would disintegrate if the Constitution was not ratified. Is this where we are today?
Monday, September 29, 2008
Tuesday, September 23, 2008
LOST!!!!!!!!!!!!!
OK, now that I have your attention, I want to issue a spoiler alert: this post is not about the show. Nothing in my life is as dramatic as that show (which I have never seen) about a plane crash (thank goodness for that)!!!!! I thought I would write this after I got lost a couple of days ago.
I can navigate. I can drive. But I cannot navigate while driving. I am too busy watching the road to watch for the next turn or to look at street signs etc. Well, I have been taking the highway to drop Gregg off at the train station but getting to the highway is very exhausting. It is a one lane road with backed up traffic at all times. It takes me 15 minutes to simply get to and from the highway. So, Gregg found a new route which takes about 20 minutes all the way to the station and back. The problem was that I had to drive back by myself. This is the conversation Gregg and I had on the way to the station:
Gregg: “On the way back, simply take a left at the light and then another left. Then go straight.”
Nitu: “Where do I take the second left?”
Gregg: “At the first light after the first left.”
Nitu: “Wait, what? I am confused! Left, light, left!! Not left, right, left! Ok got it!!!”
Gregg: “It is so easy even you cannot get lost.”
15 minutes later I was calling Gregg. I was lost and needed directions to get back home. But this incident showed me how much I have grown as a driver. The first time I got lost, I kept driving and then called Gregg almost in tears. I had no idea where I was, not even a street name. It was difficult for Gregg to give me directions under the circumstances and I was extremely nervous till I was on a road I recognized again.
This time when I got lost I calmly noted the fact, figured out where I was, pulled into a deserted parking lot, parked, called Gregg, got return directions and followed them to the “t” till I got home. No crying, no nervousness!!! In fact, I was laughing about our earlier conversation.
I am not a seasoned driver yet but certainly my temperament is improving. Does this not show an immense growth on my part? What do you do when you are lost?
I can navigate. I can drive. But I cannot navigate while driving. I am too busy watching the road to watch for the next turn or to look at street signs etc. Well, I have been taking the highway to drop Gregg off at the train station but getting to the highway is very exhausting. It is a one lane road with backed up traffic at all times. It takes me 15 minutes to simply get to and from the highway. So, Gregg found a new route which takes about 20 minutes all the way to the station and back. The problem was that I had to drive back by myself. This is the conversation Gregg and I had on the way to the station:
Gregg: “On the way back, simply take a left at the light and then another left. Then go straight.”
Nitu: “Where do I take the second left?”
Gregg: “At the first light after the first left.”
Nitu: “Wait, what? I am confused! Left, light, left!! Not left, right, left! Ok got it!!!”
Gregg: “It is so easy even you cannot get lost.”
15 minutes later I was calling Gregg. I was lost and needed directions to get back home. But this incident showed me how much I have grown as a driver. The first time I got lost, I kept driving and then called Gregg almost in tears. I had no idea where I was, not even a street name. It was difficult for Gregg to give me directions under the circumstances and I was extremely nervous till I was on a road I recognized again.
This time when I got lost I calmly noted the fact, figured out where I was, pulled into a deserted parking lot, parked, called Gregg, got return directions and followed them to the “t” till I got home. No crying, no nervousness!!! In fact, I was laughing about our earlier conversation.
I am not a seasoned driver yet but certainly my temperament is improving. Does this not show an immense growth on my part? What do you do when you are lost?
Sunday, September 21, 2008
Exploring Pennsylvania II - Lititz
This weekend we took our second day trip and went to Lititz. Lititz is a small town about 15 miles outside of Lancaster. Established as a Moravian town with strict social regulations in 1756, it has evolved into a BoBo (aka David Brooks) paradise today. We had heard about this picturesque town and wanted to see what all the fuss was about and we were not disappointed.
The town has beautiful old buildings and architecture perfectly showcased through a quaint town square. As you walk up and down Main Street, there is a row of shops selling everything from teas and coffees to books, clothes, decorations for a home and cafes. This is home to the Wilbur Chocolate Company and the first pretzel bakery in the United States. Gregg and I loved the beauty, old-world charm and new world products.
In addition, Lititz also has a grocery store called Stauffers which is somewhat like a Whole Foods. We have one closer to us but the one in Lititz is huge and very well stocked. Since we do not have a Whole Foods here, I was delighted to see their selection.
I certainly went a little crazy and completely blew my budget. But here is a partial list of what we bought during the course of the day:
1) 3 second-hand books (This Proud Heart and The Three Daughters by Madame Liang both by Pearl S. Buck and a book on 1984)
2) 3 (one-ounce) packs of tea leaves (three different ones from India). This was from a store which sells only teas and coffees from different countries and they are NOT tea bags.
3) A teapot (with an infuser built in)
4) Coffee (pumpkin spice)
5) Cheese (Humboldt-Fogg’s goat cheese with ashen center)
6) Dried cilantro (which plumps up when put into liquids)
7) Some very good cuts of steak
Overall, a great day!!! Now for the bad part…grading 60 tests.
The town has beautiful old buildings and architecture perfectly showcased through a quaint town square. As you walk up and down Main Street, there is a row of shops selling everything from teas and coffees to books, clothes, decorations for a home and cafes. This is home to the Wilbur Chocolate Company and the first pretzel bakery in the United States. Gregg and I loved the beauty, old-world charm and new world products.
In addition, Lititz also has a grocery store called Stauffers which is somewhat like a Whole Foods. We have one closer to us but the one in Lititz is huge and very well stocked. Since we do not have a Whole Foods here, I was delighted to see their selection.
I certainly went a little crazy and completely blew my budget. But here is a partial list of what we bought during the course of the day:
1) 3 second-hand books (This Proud Heart and The Three Daughters by Madame Liang both by Pearl S. Buck and a book on 1984)
2) 3 (one-ounce) packs of tea leaves (three different ones from India). This was from a store which sells only teas and coffees from different countries and they are NOT tea bags.
3) A teapot (with an infuser built in)
4) Coffee (pumpkin spice)
5) Cheese (Humboldt-Fogg’s goat cheese with ashen center)
6) Dried cilantro (which plumps up when put into liquids)
7) Some very good cuts of steak
Overall, a great day!!! Now for the bad part…grading 60 tests.
Friday, September 19, 2008
The Relevance of Aristotle
Have you ever started reading something and then seen how EVERYTHING applies to what the writer is saying? I frequently have this experience and usually discount it as my overactive imagination. But I have been reading Aristotle’s Nicomachean Ethics recently and I am amazed at how observant Aristotle is (and how hard it is to convince my students of this). This is what Aristotle says about skills:
“Virtues…we acquire by first exercising them. The same is true with skills, since what we need to learn before doing, we learn by doing; for example, we become builders by building, and lyre-players by playing the lyre.” (Nicomachean Ethics, 23, Cambridge edition)
And this statement applies so directly to my life. In the past month, I have been doing a ton of driving. I drive Gregg back and forth from the train station, I run errands, I go to school and back. In the process, I have had to master my fears about a number of different driving conditions: driving on the highway, driving at night, driving in the rain, driving after the rain, driving with cars on the road (just kidding), parking!!!! The reason is that you learn by doing, and I am learning driving by driving. However dangerous this sounds (for other drivers as well as for me), it is nevertheless true.
Having said that, which professions would you think would not/should not fall into this category? How about surgery?
______________________________
To-Do List:
Class Preps: Doing two and a half class preps this semester has been difficult and time-consuming. I changed some aspects of my Intro to American Government class and that is my half prep. The full preps are for Intro to Political Theory and American Political Thought
Grading: I have 120 students this semester and just gave 60 of them their first test. Promises to be a fun grading weekend.
NPSA: Gregg and I are both going to Northeastern Political Science Association’s November conference. I have to write a draft of a chapter for it – which has not been started yet.
“Virtues…we acquire by first exercising them. The same is true with skills, since what we need to learn before doing, we learn by doing; for example, we become builders by building, and lyre-players by playing the lyre.” (Nicomachean Ethics, 23, Cambridge edition)
And this statement applies so directly to my life. In the past month, I have been doing a ton of driving. I drive Gregg back and forth from the train station, I run errands, I go to school and back. In the process, I have had to master my fears about a number of different driving conditions: driving on the highway, driving at night, driving in the rain, driving after the rain, driving with cars on the road (just kidding), parking!!!! The reason is that you learn by doing, and I am learning driving by driving. However dangerous this sounds (for other drivers as well as for me), it is nevertheless true.
Having said that, which professions would you think would not/should not fall into this category? How about surgery?
______________________________
To-Do List:
Class Preps: Doing two and a half class preps this semester has been difficult and time-consuming. I changed some aspects of my Intro to American Government class and that is my half prep. The full preps are for Intro to Political Theory and American Political Thought
Grading: I have 120 students this semester and just gave 60 of them their first test. Promises to be a fun grading weekend.
NPSA: Gregg and I are both going to Northeastern Political Science Association’s November conference. I have to write a draft of a chapter for it – which has not been started yet.
Tuesday, September 16, 2008
Consoling Fallacies
Whenever something horrible happens that is unthinkable or unexpected, people have to bow down under the stress of bad news or learn to cope with it. This is what I saw after Tom Brady got his season-ending injury in the first few minutes of the new season. Gregg pointed out how the Patriots’ fans and commentators were coping with the news. “Games will be much more interesting now that Matt Cassel is quarterback instead of Brady (winning apparently did not make games interesting).” “This is the time for Belichick to show his real caliber (as if this current record is not enough).” And on and so on and so on.
Similarly, I have been trying to see the bright side of this economic downturn that we are in. While my consoling thoughts may not be very sensible, they do work nonetheless. Reading about how peoples’ investments and retirement accounts may be in trouble, I found myself selfishly thinking: thank goodness we do not have any of that stuff. Reading about how people are worried about the costs of their homes, I thought: well, that is one thing Gregg and I do not have to worry about.
How monumentally stupid of me!!! This is what my thoughts translate to: thank goodness that we have no money. Thank goodness for the years in graduate school during which we did not live an adult financial life. This silliness is on par with the conversations about how Brady’s injuries benefit the team. Good things are good things even if they bring some inconveniences and worries with them.
Having said that, the one thing which this economic downturn has taught us all is how to save. Instead of depending on credit or spending down savings, most people are cutting down their budgets, using coupons and doing everything to pinch pennies. This is hopefully a long-term change – and if it is – it will be a positive change for us all. I have certainly been more budget conscious and I hope to be this way for many years to come!!! Is this just a consoling fallacy too?
Similarly, I have been trying to see the bright side of this economic downturn that we are in. While my consoling thoughts may not be very sensible, they do work nonetheless. Reading about how peoples’ investments and retirement accounts may be in trouble, I found myself selfishly thinking: thank goodness we do not have any of that stuff. Reading about how people are worried about the costs of their homes, I thought: well, that is one thing Gregg and I do not have to worry about.
How monumentally stupid of me!!! This is what my thoughts translate to: thank goodness that we have no money. Thank goodness for the years in graduate school during which we did not live an adult financial life. This silliness is on par with the conversations about how Brady’s injuries benefit the team. Good things are good things even if they bring some inconveniences and worries with them.
Having said that, the one thing which this economic downturn has taught us all is how to save. Instead of depending on credit or spending down savings, most people are cutting down their budgets, using coupons and doing everything to pinch pennies. This is hopefully a long-term change – and if it is – it will be a positive change for us all. I have certainly been more budget conscious and I hope to be this way for many years to come!!! Is this just a consoling fallacy too?
Sunday, September 14, 2008
Cooking as Relaxation
A lot of people find cooking relaxing and so do I. I never cooked as a child (or as an adult) until Gregg and I started dating about 5 years ago. It always seemed a waste of time to cook for one and I lived off the potato chip, frozen yogurt diet at the time. I have gradually honed my cooking skills since then. The one thing which I have started doing now (which I never did when I began cooking) is experimenting. Initially, I followed recipes to the “t” but now I rarely do that. I also never measure ingredients which is annoying when I have to give recipes to people. But experimenting is the reason why cooking is so much fun and so relaxing – you never know where you will end up (rather like reading a good book). Like with cooking, you can start a good book and at the end, you either keep it for posterity or it makes you want to throw up!!!!!
The other thing I have tried to do in the past couple of years is to eat better. I am a meatetarian – I do not like fish or vegetables. But one of the things I have been experimenting with is cooking vegetables or beans (or even fish) – things which are better for you than red meat. The only way to make myself eat vegetables or fish is to experiment with them – use them to make dishes which I would like.
This is what I set out to do yesterday. I had not eaten any vegetables for a couple of days. Plus, I had cans of garbanzo beans and red kidney beans in my pantry which I wanted to get rid of. I wanted to see what I could make with it. It ended up being a twist on a traditional Indian recipe which uses chick-peas. I wanted color in the food, so I put the vibrant red kidney beans in with the chickpeas, green peas, sautéed paneer (an Indian cheese) and some diced tomatoes and onions. Add a dash of heavy cream to finish it off and it looked – and tasted – really good. And it was a completely vegetarian meal.
Today, I tried making ghee (clarified butter). This is a very popular cooking ingredient in India and something I use frequently. It is almost the oily part of butter with the milk evaporated. Some lactose intolerant people have reported that they can eat ghee for that reason. Making ghee is both an attempt to save money and an attempt to get it fresh. The Indian store in Lancaster sells it but it does not have the fresh smell I love. Plus, a small tin of ghee costs about $9-$10 at the Indian grocery store. I made the same amount of ghee for only $6. A savings of $4 every 4-6 weeks!!!! The ghee came out quite well though I thought I might have overdone it by a fraction (it turned out to be a little darker than ghee should be). However, the dark color was because of the residue which is supposed to be strained out at the end anyway – the ghee now looks as it should!!!!
Anything you are experimenting with that you want to share (not necessarily in cooking)?
The other thing I have tried to do in the past couple of years is to eat better. I am a meatetarian – I do not like fish or vegetables. But one of the things I have been experimenting with is cooking vegetables or beans (or even fish) – things which are better for you than red meat. The only way to make myself eat vegetables or fish is to experiment with them – use them to make dishes which I would like.
This is what I set out to do yesterday. I had not eaten any vegetables for a couple of days. Plus, I had cans of garbanzo beans and red kidney beans in my pantry which I wanted to get rid of. I wanted to see what I could make with it. It ended up being a twist on a traditional Indian recipe which uses chick-peas. I wanted color in the food, so I put the vibrant red kidney beans in with the chickpeas, green peas, sautéed paneer (an Indian cheese) and some diced tomatoes and onions. Add a dash of heavy cream to finish it off and it looked – and tasted – really good. And it was a completely vegetarian meal.
Today, I tried making ghee (clarified butter). This is a very popular cooking ingredient in India and something I use frequently. It is almost the oily part of butter with the milk evaporated. Some lactose intolerant people have reported that they can eat ghee for that reason. Making ghee is both an attempt to save money and an attempt to get it fresh. The Indian store in Lancaster sells it but it does not have the fresh smell I love. Plus, a small tin of ghee costs about $9-$10 at the Indian grocery store. I made the same amount of ghee for only $6. A savings of $4 every 4-6 weeks!!!! The ghee came out quite well though I thought I might have overdone it by a fraction (it turned out to be a little darker than ghee should be). However, the dark color was because of the residue which is supposed to be strained out at the end anyway – the ghee now looks as it should!!!!
Anything you are experimenting with that you want to share (not necessarily in cooking)?
Saturday, September 13, 2008
Exploring Pennsylvania
Since Gregg and I started our first full-time jobs together, we have had to make spending time together a priority. Mondays, Wednesdays and Fridays, Gregg is on the train or in Philly from 7am to 6pm (till 10pm on Mondays). Tuesdays and Thursdays, I am on campus from 12pm-6pm. While I know this is common for most couples, it is uncommon for us and we have been trying to compensate.
Our other priority since we moved to PA has been to explore Lancaster and its surroundings. So far, we have mainly explored restaurants. Once we ventured to Harrisburg but that’s about it. So Gregg decided to combine our goals into a new rule: Saturdays are days we spend together doing something new and not working (at least till the evening).
In that spirit, we got up this morning and drove to Gifford Pinchot State Park. It is about 45 minutes from our house. It is on a lake and has trails and camp-grounds. We took Giggs with us. Once at the park, we spend about 90 minutes walking the “Lakeside Trail” with Giggs and then headed out. I do not usually like hiking but this was a swift easy walk around the park. It is located outside a very small cute town and we went to what was advertised as a Farmers’ Flea Market. True to its name, it turned out to be part farmers’ market and part flea market. We walked around there for a while where Giggs got a lot of attention. By this time, we were very tired, very hot and hungry. So, we got Giggs some water and snacks and then stopped at the Hillside Café for lunch. The place looked like just some diner from the outside but turned out to be quite nice and swanky inside – in spite of its name and location. Anything but a café. The food was very good – I had their BBQ ribs and Gregg had a fish platter. Huge portion sizes too. I highly recommend it.
On the whole, a wonderful day!! What made it better was that it was a cheap way to explore. The state park was free; we only paid for lunch and gas. We did not buy anything at the farmers’ market. Overall, I spent a wonderful day with Gregg and Giggs, did not spend much money, got some exercise and discovered a very beautiful hilly part of PA. What more could one ask for?
Our other priority since we moved to PA has been to explore Lancaster and its surroundings. So far, we have mainly explored restaurants. Once we ventured to Harrisburg but that’s about it. So Gregg decided to combine our goals into a new rule: Saturdays are days we spend together doing something new and not working (at least till the evening).
In that spirit, we got up this morning and drove to Gifford Pinchot State Park. It is about 45 minutes from our house. It is on a lake and has trails and camp-grounds. We took Giggs with us. Once at the park, we spend about 90 minutes walking the “Lakeside Trail” with Giggs and then headed out. I do not usually like hiking but this was a swift easy walk around the park. It is located outside a very small cute town and we went to what was advertised as a Farmers’ Flea Market. True to its name, it turned out to be part farmers’ market and part flea market. We walked around there for a while where Giggs got a lot of attention. By this time, we were very tired, very hot and hungry. So, we got Giggs some water and snacks and then stopped at the Hillside Café for lunch. The place looked like just some diner from the outside but turned out to be quite nice and swanky inside – in spite of its name and location. Anything but a café. The food was very good – I had their BBQ ribs and Gregg had a fish platter. Huge portion sizes too. I highly recommend it.
On the whole, a wonderful day!! What made it better was that it was a cheap way to explore. The state park was free; we only paid for lunch and gas. We did not buy anything at the farmers’ market. Overall, I spent a wonderful day with Gregg and Giggs, did not spend much money, got some exercise and discovered a very beautiful hilly part of PA. What more could one ask for?
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