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Up is steeper than down
June 29, 2011
•Why is the slope up a hill steeper than the slope down a hill? Seems like it should be the same, but it never is.
Everyone knows that it’s easier to ride a bicycle downhill than to ride it uphill, or to fall into a hole than to climb out.
The economy works the same way. If a $1,000 investment drops to $800, that’s a 20% decline. But for it to go back up to $1,000, that’s a 25% increase. You see, the climb back up is steeper than the drop down.
Remember the good old days when things seemed to be going great and the Fed would increase interest rates to slow the economy down? Or a big increase in jobs would send the stock market down because it was worried that too many buyers would cause inflation.
The economy seems to be counter-intuitive. Good is bad, and bad is good.
For example, the decline in housing prices has virtually crippled the economy, but it’s a good time to buy.
Banks are in trouble. With zillions of dollars of bad loans on their books and with housing values – their primary collateral – continuing to fall, banks are scared to make loans. Murphy’s Law says, “If anything can go wrong, it will.” Murphy’s Law of Banking stings even more: “If you qualify for a loan, you don’t need it.”
For years, economists complained that Americans “didn’t save enough.” We spent all of our money. That was a bad, but it made the economy grow, so it was a good. Credit card debt soared which was bad, but the stuff we bought made the economy grow, so that was good.
Today, we’re nervous about what tomorrow’s economy is going to do or look like, so we are changing our behavior. Now, Americans are saving more which is good, but by spending less the economy won’t grow, so that’s bad. We are paying down that mountain of credit card debt, which is good, but that money isn’t being used to buy the stuff that new jobs would make, so it’s bad.
The Japanese are very frugal people and famous for saving. That’s good, we were told. We should be more like them. But the Japanese economy has been in a funk for more than 25 years. Its stock market average was 10,000 in 1984 and after a blip, is still 10,000 while the US stock market is ten times higher than in was 25 years ago.
Do we really want to be like the Japanese?
The 2012 presidential campaign has begun, and until the election, the political rhetoric is going to be all about jobs. The political parties will blame each other, but more importantly, both will make promises they can’t keep.
During each decade from 1950 until 2000, the US created on average approximately 150,000 new jobs per month. From 2000 until 2007, US job growth was about half that, or 80,000 new jobs per month (despite huge tax cuts, but we won’t go there). Then, during the Great Recession of 2008 and 2009, the country lost 8.5 million jobs.
Do the math If we can start growing jobs at the rate we did from 1950 until 2000, that’s a 5 year climb to get back to 2007 employment levels. And that’s before a single new job is created. But what if the job growth rate from 2000 through 2007 is the new normal? In that case, climbing out of this ditch and getting back to even ground will take almost 9 years.
What about all this whining about the loss of manufacturing jobs? The US is already the most productive country on the earth. Most countries aren’t even close to American productivity. Each US worker produces 7 times more a Chinese worker and 13 times more than workers in India. As US workers become more productive every year, fewer people produce more. Increased productivity is good, right? But it means fewer jobs, so that’s bad.
It’s deeper than that. We don’t make shoes and shirts anymore. That stuff was easy. Today, we make satellites and electronic components, the hard stuff which requires more educated workers than it did to make shirts.
The presidential campaign will be fought with quick and easy sound bites. The problem is that these issues have no quick or easy answers. What politicians do know is that tearing things down is easier than building them back up.
Up is steeper than down. Go figure. How does anyone make an A in economics when the right answer might be wrong and the wrong answer might be right?
Volta Park Weekend
•
Friday night was the Volta Park fundraiser at Georgetown Visitation Preparatory School. A large number of Georgetowners and other advocates turned out to show their support. Mayor Gray, Councilmember Catania and I all attended and gave our support. Of course, Mimsy Linder was the Mistress of Ceremonies and again made sure the weekend ran smoothly.
Linder and John Richardson were the original forces behind the renovation of Volta Park. It was through their efforts, as well as the efforts of so many Georgetown residents, that we have a first rate playground and swimming pool complex.
Saturday and Sunday were the doubles tennis tournament. The winner this year was WTOP political commentator and former Georgetown resident Mark Plotkin (the Comeback Kid) and his partner, John McDermit. Mark is a five-time winner of the Volta Park tennis tournament, his last victory in 2000. His four-year reign began at the 1997 inaugural tournament with his partner and Georgetown resident Garrett Rasmussen and extended through 2000. After a twelve-year hiatus, this victory seals his reputation as the premier tennis player in the history of Volta Park.
Sunday was Volta Park Day, kicked off by the annual East vs. West softball game in which the East was again victorious, continuing its winning streak. At 3 p.m., the picnic and games began. You could smell the hamburgers and hotdogs on the grill throughout the entire neighborhood. The dunk tank was in full operation and my daughters Katherine and Chris, along with their friend Hannah, ran the snow cone booth while my son John was the popcorn vendor. When they left to go swimming, I took my turn on the snow cone machine and Nancy Taylor ran the popcorn machine.
As if on cue, it began to rain as the events came to an end at 6 p.m. bringing another very successful Volta Park weekend to a close.
To me, the event signifies the beginning of summer in Georgetown. I look forward to the many fun summer events, including the very popular concerts in the park. Wishing everyone a fun and happy summer!
Weekend Round Up June 16, 2011
June 24, 2011
•CLICK HERE for more calendar listings!
Author Paul Moylan Book Signing
June 17th, 2011 at 04:00 PM | Free
Author of Camino De Santiago: Fingerprints of God, a story about a group of very well-to-do people who travel to Spain and walk the ancient pilgrimage trail which forever changes their lives, will be signing books at the Bourbon Cafe.
Bourbon Cafe
2101 L Street NW
Washington, DC 20037
Georgetown Pet Adoption Event
June 18th, 2011 at 12:00 PM | Tel: 202-333-6100
The Georgetown Office of Coldwell Banker Residential Brokerage joins forces with Washington Humane Society to host a pet adoption day at the Washington Harbour in Georgetown.
You save a life and enrich your own when you adopt a homeless pet.
Adults, children and families are encouraged to come and meet the pets as well as members of the Washington Humane Society and a group of our very own pet friendly Coldwell Banker agents and volunteers.
3000 K Street, N.W., Suite 101
Washington Harbour – Georgetown
Washington, DC 20007
NOW at the Corcoran-Chris Martin
June 18th, 2011 at 10:00 AM
Chris Martin’s paintings are tactile and stitched-together, incorporating found objects and collage into their abstract geometries and rhythmic patterns. His works relate to the physical world as much as to his own internal landscape of memories and experiences, which draw from music, literature, and the human relationship to the natural world.
Corcoran College of Art + Design
500 Seventeenth St. NW
Washington DC 20006
A FATHER’S DAY CELEBRATION FIT FOR A KING Treat Dad to a BBQ-Style Buffet at Roof Terrace Restaurant
June 19th, 2011 at 10:00 AM | $36.95 for adults $20.00 for children 12 and younger | Tel: 202- 416-8555
The way to his heart this Father’s Day is with Roof Terrace Restaurant’s endless Kitchen Brunch Buffet — barbeque style! On Sunday, June 19, fathers and their families can fill up on an array of summer-time favorites and enter for a chance to win an “Everything but the Grill” set.
Roof Terrace Restaurant can accommodate families of 2 up to 40. Seatings begin at 10:00am and reservations are required.
Roof Terrace Restaurant
The John F. Kennedy Center for the Performing Arts
2700 F Street
Washington, DC
www.roofterracerestaurant.com
Daryl Hall & John Oates
June 20th, 2011 at 08:00 PM
With more than 40 career hits, including “Do It for Love,” “Private Eyes,” and “I Can’t Go for That (No Can Do),” these multiplatinum legends have been declared the most successful duo in rock history.
Wolf Trap Foundation for the Performing Arts
1645 Trap Road, Vienna, VA
Sasha Obama’s Georgetown Birthday Bash
•
Sasha Obama, youngest of the Obama family, was spotted outside the famous Georgetown Cupcakes, Friday, with big sister Malia. The First Daughters arrived in style to celebrate Sasha’s 10th birthday amidst friends, flowers and birthday balloons.
Author and photographer Carol Joynt got the scoop when she sensed “discreet Secret Service activity.” Joynt followed her intuition and hung around watching men “only discernible from the average male Georgetown tourist by having focus and flat abs while still clothed in generic tourist mufti – cargo shorts.”
The tourist-esque Secret Service preceded a hot pink GCC Range Rover. The Range Rover pulled up at the old bakery shop, which now acts as the studio for the infamous “DC Cupcakes.” A caravan of black cars and a single black van followed the Range Rover, onto Potomac Street and parked out front.
A group of about 10 young ladies were escorted from the van, including Sasha and Malia. Secret Service continued clearing the sidewalk and ushering cars on.
The party was hosted by Georgetown Cupcake’s owners, Katherine Kallins and Sophie LaMontagne and included several “DC Cupcakes” stars. While there, the girls decorated their own DC cupcakes and enjoyed a specially made presidential pastry.
The girls met President Barack Obama, First Lady Michelle and their grandmother, Marian Robinson, at Camp David on Saturday, so the family could continue their celebration together.
DC Police Probe Assaults on Taxi Riders
June 17, 2011
•If you’re planning on going out this weekend, please think twice about which taxicab you might get into.
DC Police are investigating two sexual assaults during the past month that may be related incidents.
On Wednesday, May 11, late at night, the first victim was picked up in Dupont Circle and assaulted near the 300 block of 18th Street NE. On May 22, a second woman was picked up near Georgetown and assaulted near the 3700 block of Quebec Street NW, according to WTOP.
The suspect is described as a Middle Eastern male with either olive or light brown skin, about 30-40 years old, with a thin build, thick or curly hair, and wearing dark clothing.
The suspect’s car is described as a dark-colored taxicab with a dark interior.
To stay safe this weekend, share a cab with a friend, as each victim was picked up alone. Also, look for your cab driver’s license on the right visor of the front seat, and make sure the photo on the license is of your driver, and not someone else.
If you have any information about the incidents, please call police at (202) 727-9099 or 1-888-919-CRIME (1-888-919-2746). Anonymous information may be submitted to DC Crime Solvers at 1-866-411-TIPS and to the department’s Text Tip Line by text messaging 50411.
CityDance Ensemble Takes its Final Bow
•
The locally beloved CityDance Ensemble was forced to shut down their professional dance company and their avant-garde co-founder and artistic director, Paul Gordon Emerson, submitted his resignation in accordance with the closing. According to the Washington City Paper, CityDance could not fiscally support their contemporary professional dance entity anymore. Also, none the professional dancers have renewed their contracts in following with the collapse of the performing entity.
A strong competitor to the longer-established Washington Ballet, CityDance alluded to having everything going for them- talented dancers, tours all over the globe, and local buzz from raving reviews. Yet trouble maintaining a large enough audience and donor base brought the company to its knees under the weight of the current economic downturn.
With a diminishing return on production and not enough sales, the dance production company was quickly running out of cash. In an interview with the Washington City Paper, Alexandra Nowakowski, executive director of CityDance, commented that the hype of the company’s success had masked lurking financial issues. She continued to comment on how CityDance’s professional company lacked a strong donor base, and due to the recent fiscal crisis budgets were not being met.
Emerson has been with the company since its inception in 1996 and became artistic director in 2000. His uniquely creative choreography brought booming attention to the company, winning multiple D.C. Mayor’s Art Awards annually, and being invited to tour globally in countries such as Russia, Peru and Algeria. CityDance’s performing creative genius stems from its innovative collaborative choreography, where not just choreographers contribute, but artists and even the dancers create a melting pot dance piece.
However, CityDance’s ballet school, outreach programs, and film production entities are staying alive and doing very well during this rough time. “All of that is thriving and growing… We have 500 students at the school,” said Nowakowski in the Washington City Paper on June 3.
Future plans for a professional performing entity seem small, with a bleak reality that CityDance probably will not have a complete dance production entity again. Nowakowski continued by saying that CityDance needs to refresh its program to figure out how to support an artistic output for dance.
Remembering some of America’s Sensational Personalities
•
The famous, the near-famous, the once-famous seem to pass on in threes and fours, and so we will note the passing of a group of disparate folks who enriched our lives, made their names, made us stand up and take notice.
We give you a Dodge City marshal, an edgy jazz musician, a secretary of state, and Doctor Death himself. We give you James Arness, Gil-Scott Herron, Lawrence Eagleburger and Dr. Jack Kevorkian.
JAMES ARNESS Back in the days of my growing-up youth in a small town in Ohio, my step-father, who was a Serbian immigrant, didn’t spend much time watching television. Except for on two occasions: we would watch the Cleveland Indians battle the New York Yankees together, and every Saturday night, we watched “Gunsmoke,” in which James Arness, the hefty, 6 foot, 7 inch actor would open the show by gunning down the same hapless gunslinger in the streets of Dodge City.
Dad liked westerns, and so did I and “Gunsmoke,” once a hugely popular radio show, was one of the longest-running series on television ever—it stayed a fixture on CBS for 20 years along with Marshall Dillon, Milburn Stone as the Doc, Amanda Blake, as Kitty who ran the saloon, and Dennis Weaver as a limping deputy. It was the first so-called “adult” western—meaning that people actually got killed and stayed down instead of being knocked out by Roy Rogers or the Lone Ranger in a fist-fight. It was full of character and characters, and Arness cast the biggest shadow of all.
I would guess they will be tempted to put Marshall Dillon on the tombstone; it’s what made him famous although he did play the Thing in “The Thing,” an outer space monster movie of the 1950’s. His brother was Peter Graves of “Mission Impossible” who died last year. Arness was 88.
GIL SCOTT-HERON
Even in the world of jazz which attracts outsiders, gifted and wounded geniuses, and outspoken personalities, Gil-Scott Heron was something else. Only 62 when he died, he was as much a prophet as a musician who came out of the angry-young-black-man milieu of the 1960’s, a full-of-fury percussionist who pre-staged rap and spoke word music.
He was also deeply political, deeply troubled, a composer who wrote songs like “The Revolution Will Not Be Televised” and “Home Is Where the Hatred Is” and, more recently, “Who Will Survive in America?” He was also a poet, the author of a mystery novel called “The Vulture” and a man who battled various addictions most of his life.
LAWRENCE EAGLEBURGER
Not everyone spends a lifetime in his chosen field and career path, especially at the level of national service, especially in the State Department. But Lawrence Eagleburger did, serving 40 years as a foreign policy adviser and official, working with a variety of presidents, and acting often as a foreign affairs troubleshooter.
He was not of the elegant school of diplomacy—he was rumored to have a bark and bite approach, never seemed to find a suit that fit him perfectly. But he was also the classic professional whom his superiors trusted with delicate tasks. He was a top aide to Henry Kissinger and became Secretary of State under President George Bush (the first) after the departure of James Baker.
Eagleburger was a frequent adviser on Balkan issues, which became a hotbed after the implosion of Yugoslavia into warring states.
JACK KEVORKIAN
The man who became famous for advocating (and performing) doctor-assisted suicides of terminal patients died himself recently, unassisted, if not untended. People were frequently put off by Kevorkian who many felt sensationalized the end-of-life and death-with-dignity controversies that followed him and that he sometimes publicized and gave a public face: himself.
But his methods, including a self-constructed suicide machine which he used with patients and which was crude and sometimes not entirely effective, did eventually lead to the death-with-dignity legislation. He was polarizing, controversial and perhaps self-serving dubbed “Doctor Death,” but he did go to prison for eight years doing what was then illegal but is no longer.
Historic Streetcar System Removed
June 16, 2011
•The usually heavily trafficked O and P Streets in Georgetown are, of late, looking more like excavation sites than roads. DDOT is delving into the next phase in its $11 million mission to rehabilitate the area, removing the long-buried streetcar tracks and unearthing a forgotten chunk of Georgetown history.
The rails are being uncovered and removed, and the streets are being re-paved with cobblestone to preserve the historic roads yet make them even and safe to drive on. Some of the rail systems, which are remarkably well preserved, will be put back into the streets after being reinforced as remaining examples of Washington’s original, unique streetcar system.
On the day that the first rails were unearthed, the National Park Service was at the scene to document the event as part of an account called the Historic American Engineering Record which will be housed at the Library of Congress.
DC’s streetcars began their circuits around the city in 1888 and continued to service the nation’s capital city until 1962, when they finally gave way to more modern systems of transit.
Now, the old railways are making concessions to the modern world one more time as DDOT restores streets, replaces sewers, installs new streetlights and fixes up water mains and gas lines. The project is scheduled to last for 18 months.
Georgetown’s Bartleby’s Books Closing by Month’s End
•
Tucked just off Wisconsin Avenue at 1132 29th St. on the edge of Georgetown’s lively commercial district is the unassuming but consequential Bartleby’s Books, which specializes in rare and antiquarian books.
While most Washingtonians have walked past the bookshop countless times crossing the bridge to and from Georgetown, only those who frequent the store know that by the end of the month, Bartleby’s will close.
Not limited to rare and antiquarian books, Bartleby’s specializes in American history and law, with a strong selection of books on military history, local history, literature, poetry and travel. (On a recent visit to the store, browsing through DC ephemera I found city reports from the early 1970’s that analyzed metro’s impact on neighborhoods in Far NE.)
With the store’s closing, the count of book stores in greater Georgetown has now dwindled to less than a half dozen. A block east of Bartleby’s is Bridge Street Books at 2184 Pennsylvania Ave. The Barnes & Noble on 3040 M St. is nearby with the remaining book stores in Georgetown on P St. and across Wisconsin Ave. from the foot of Book Hill Park.
As a member of the Antiquarian Booksellers Association of America (ABAA), Bartleby’s is one of 450 registered and licensed book sellers specializing in antiquarian materials. According to Susan Benne, Executive Director of ABAA, between 1/3 and 1/2 of members have storefronts. Other members “deal privately in an office” or from their homes.
Second Story Books, with a storefront in Dupont Circle and an enormous warehouse in Rockville, is well known. Wonder Book, with a warehouse in Frederick and storefronts in Hagerstown and Gaithersburg, is the next closest place to find antiquarian books before visiting Baltimore’s ABAA stores.
Bartleby’s was started by iconoclastic John Thomson, Vice-President of ABAA, with his wife in Bethesda in November of 1984; Bartleby’s’ namesake comes from a Herman Melville novella, “Bartleby, the Scrivener: A Story of Wall Street.” They have been in their current location on 29th St. for the past five years after moving from previous locations in Georgetown.
“It’s the best bookstore in the city,” said Morgan Holley, a recent graduate of the French International School. “There’s nostalgia and a connection you feel when you have an older book.”
Holley and her classmate, Lydia Dulce, compared Bartleby’s to one of their other favorite bookstores; Shakespeare and Company on Paris’ Left Bank.
“Younger people come in here every day and say they have never seen anything like it,” says Thomson. “The store gives them a historic sensibility of books and what they mean to the human experience.”
“Bookstores are a disappearing phenomenon,” said Joy Denman, a retired educator who lives down the street from the store. “I can’t bear to see them leave. We need to halt this disaster!” she said waving an out-of-print work by Upton Sinclair that she found through the store.
The closing was first reported last fall. By the end of the month, only memories of Bartleby’s Books will remain. In a wider examination of Bartleby’s closing and its impact on the city’s literary culture I feel, as a book reader and collector, a deep sense of loss but also regret that I won’t have more years to explore and get lost in the shelves.
In our city and culture where information and news moves with increased frequency we often find ourselves lost in our smart phones, multiple Apple devices, and E-Book readers. Out with the old and in with the new has its time and place, but Bartleby’s closing signifies an era of the city that is increasingly fading from the cityscape, becoming harder and harder to find.
“You’re always as good as your last buy,” says Thomson, who will continue the business with his wife through their website (bartlebysbooks.com) and by appointment.
The store will be open Monday – Sunday through July 2. For more information call (202) 298-0486.
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Ancient Roman Statue Unveiled at National Gallery
June 15, 2011
•The famous Capitoline Venus, an ancient and treasured Roman statue, was inaugurated Tuesday in the West Building Rotunda of the National Gallery of Art by Gianni Alemanno, the Mayor of Rome. The six foot, six inch nude portrayal of the goddess Venus will be on display now through Sept. 5 in its first excursion outside of Rome in almost 200 years. The last time the Capitoline Venus left, she was stolen cargo, carried away by Napoleon in 1797 to be held in France until 1816 when she returned home to Rome. The statue is on loan from the Capitoline Museum in Rome, from which this Venus gets her name, one of the oldest public art museums in the world.
“It will truly be an honor to be at the National Gallery of Art to celebrate, through the millennial history and culture of our city, the achievement of an ideal bridge between Italy and the United states, and between their two capitals, Rome and Washington, D.C.,” said Alemanno in a press release issued by the National Gallery of Art.
The exhibition, titled “A Masterpiece from the Capitoline Museum, Rome,” is part of a larger project taken up by Alemanno called “The Dream of Rome,” which aims to present similar exhibits in the U.S. over the next two years. It is also an extension of the Italy@150 series, a celebration of the 150th anniversary of Italy across Washington and other locations in the U.S.
On the day of the unveiling, Alemanno and Mayor Vincent Gray signed a proclamation cementing the sister city relationship between Rome and Washington, D.C.
“The first trip of the Capitoline Venus outside Italy in almost 200 years marks the unique friendship between our two capitals and our two nations,” said Giulio Terzi di Sant’Agata, ambassador of Italy to the U.S., in the same press release. “It also witnesses the long standing cooperation between Italian cultural institutions and the National Gallery of Art.”
The Capitoline Venus is an incredibly well-preserved statue hailing from the ancient Roman Empire, and is a variation on what is known as a “Modest Venus,” where the goddess partially covers her nudity with her hands. She was found buried in a large a large garden in Rome in the 1670’s.
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