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Even if times ahead are troubled, the long run is likely to look much more settled. In the short run, a housing slump could well make private investors and central banks outside the U.S. less eager to hold dollars. A survey by the U.S. Treasury Department last year indicates that about third foreign-held U.S. corporate debt consisted by asset-backed securities and about half of that was mortgage-related. Petro-dollars held in the Middle East and Russia are particularly mobile. Once foreign money leaves the U.S., the dollar would fall. In the longer run, U.S. exports would rise, shrinking the huge U.S. trade deficit. Moreover, recession in the U.S. would lead to lower imports, further reducing the trade deficit. At the same time, China may well let the yuan rise against the dollar, leading to a rise in its domestic spending relative to its exports. Once U.S. consumers spend less and Chinese consumers spend more, the large global imbalances, which have cast a shadow on the world economy for the past decade, would begin to disappear.

ut the idea as well that intrigues me is that we're being "oppressed by gatekeepers"! Give me a break - it's almost autistic. One good example is the BBC's Digital Assassin Day last summer. They tried to get all the bloggers to tell them what they thought they should be doing, it was all about a new democracy and "user generated content". But in the end, four times as many BBC people were involved in staging this than members of the public who eventually showed up. That tells me people at the BBC are far more neurotic about this than they need to be. Why do they think they need to do that?

Ultimately, consumer and business confidence are mostly irrational. The psychology of the markets is dominated by the public images that we have in mind from day to day, and that form the basis of our imaginations and of the stories we tell each other.

Reading Bauman helps people to insulate themselves from these false solutions to their difficulties.

might say that the problem for people today is how to resist consumer society, to find ways of caring for others, and to find a new politics that is above the nation-state. The globalisation phenomenon requires this if it is to be encountered by humanity in a more balanced form than at present when its negative side predominates over its positive side. The European integration project may offer some guidance.

The political institutions of this are parliamentary democracy and the public sphere; the former has been eroded and the latter hollowed out.

People who read the newspaper online have a far less favorable opinion of network and local TV news programming than do people who read the print version, and also have a somewhat less favorable view of the daily newspaper they are most familiar with. But consumers of online newspapers feel far more favorably toward large nationally influential newspapers, such as the New York Times and the Washington Post.

And by more than three-to-one (73%-21%), the public feels that news organizations are "often influenced by powerful people and organizations," rather than "pretty independent."

However, even two-thirds of liberal Democrats (67%) say the news media is more motivated by a desire to expand audience than informing the public. People who have attended college are more likely than high school graduates to say that the press mostly seeks to attract the biggest audience. And 85% of those who cite the internet as a main source believe that news organizations are mostly motivated by a desire to expand their audience, rather than to inform the public.

Andrew Puddephatt on media reform from a human rights perspective This morning I attended a very broad and interesting side-event on “Global Information and Communication Policy” organized by Consumer’s Union.  The event featured an international panel of speakers including : Luiz Fernando Marrey Moncau, Instituto Brasileiro de Defesa do Consumidor, Brazil Rosemary Okello-Orlale, African Woman and Child Feature Service, Kenya Bjarne Pedersen, Consumers International Andrew Puddephatt, Global Partners UK Jamie Love, CPTech Andrew issued a provocative challenge to the media reform community to show the evidence of their claims. 

We are interested in moving toward a curating model of information.  Information needs to be curated in  a way that shows the information that you want similar to how a museum curates a large body of information into discrete exhibits and presentations that people can understand and digest.

who is doing the curating?  Is it going to be bottom-up or done by Bill Gates and Google.