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Festival for Expanded Media 22. - 25. January 2009

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in Debt We Trust

So finally some full length film link to watch according to these day’s main theme:
In Debt We Trust discusses the massive debt burden that millions of Americans are struggling with and a presents a forecast of the fiscal crisis that faces our country when the ballooning national debt comes due. Inspired by Robert Manning’s book Credit Card Nation, the film showcases Manning’s insights about the impact of debt on young people and our society. […] In Debt We Trust explains how the mall replaced the factory as America’s dominant economic engine and how big banks and credit card companies are lobbying congress and driving individuals into ever greater debt (excerpt via American Sociological Association) ….

IN DEBT WE TRUST is the latest film from Danny Schechter, “The News Dissector,” director of the internationally distributed and award-winning WMD (Weapons of Mass Deception), an expose of the media’s role in the Iraq War. The Emmy-winning former ABC News and CNN producer’s new hard-hitting documentary investigates why so many Americans are being strangled by debt. It is a journalistic confrontation with what former Reagan advisor Kevin Phillips calls “Financialization”–the “powerful emergence of a debt-and-credit industrial complex.” >>> read on

film website / watch the entire film on video.google here.

Democracy now takes a look onto the subject and film here .. and a german review here.

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The Ascent of Money:
A Financial History of the World

“The Ascent of Money: A Financial History of the World,” is the recent book by Niall Ferguson, which as the NYTimes writes in its review anticipates many aspects of the current financial crisis, which has toppled banks, precipitated gigantic government bailouts and upended global markets.

The book just recently has also been turned into a series for UK’s channel 4 and despite what one might criticize, the episode I have seen so far, has given me real interesting insights. Channel 4 still airs the episodes at the moment and also provides a whole page on the subject … but if you want to enjoy the information itself and dont’t want to read the book … also the elder episodes are findable online ..

.. and here is an extensive interview from youtube with the author:

Selection Media-Space Art-Space

For our exhibition during the 22nd Stuttgart Filmwinter we finished our selection and invited several artists. Have a look at the selection page.

The Dark Bailout

What was: Capital (It Fails Us Now)

Gang Of Four / Capital (It Fails Us Now)

The moment I was born I opened my eyes
I reached out for my credit card
I know I never did my own suit
Capital it fails us now come and let us seize the time x2
On the first day of my life I opened my eyes
Guess where with superstars surrounded by luxury-eagers
I need a prison I need a hot fire
No credit no goods
Come on back I say
They say we’re bankrupt
Capital it fails us now come and let us seize the time x2
Capital it fails us now…
Oh no! I left it in my other suit!
One day all will be living on credit
Bankrupt
I’m still in credit—just
One day all men are living on credit…

.. and a 2005 / 2006 show in Tallinn and Oslo, which used that same title:
Capital (It Fails Us Now)

Cultural Codes

via Brian Holmes blog an excerpt from THE AFFECTIVIST MANIFESTO / aka / Artistic Critique in the 21st Century:

“…. Artistic activism is affectivism, it opens up expanding territories. These territories are occupied by the sharing of a double difference: a split from the private self in which each person was formerly enclosed, and from the social order which imposed that particular type of privacy or privation.

 

When a territory of possibility emerges it changes the social map, like a landslide, a flood or a volcano do in nature. The easiest way for society to protect its existing form is simple denial, pretending the change never happened: and that actually works in the landscape of mentalities. An affective territory disappears if it isn’t elaborated, constructed, modulated, differentiated, prolonged by new breakthroughs and conjunctions. There is no use defending such territories, and even believing in them is only the barest beginning. What they urgently need is to be developed, with forms, rhythms, inventions, discourses, practices, styles, technologies - in short, with cultural codes. An emergent territory is only as good as the codes that sustain it. Every social movement, every shift in the geography of the heart and revolution in the balance of the senses needs its aesthetics, its grammar, its science and its legalisms. Which means that every new territory needs artists, technicians, intellectuals, universities. But the problem is, the expert bodies that already exist are fortresses defending themselves against other fortresses.

 

Activism has to confront real obstacles: war, poverty, class and racial oppression, creeping fascism, venomous neoliberalism. Yet what we face is not only soldiers with guns but above all cognitive capital: the knowledge society, an excruciatingly complex order….”

aesthetics of current affairs in blue

Just came across this announcement of a new exhibition displaying the ‘Aesthetics of Capital’ .. and wondering if putting aesthetics into the blue helps to understand the current developments …

In his Capital + Code exhibition, Richard Kriesche homes in on interconnections, focusing on the structure of phenomena. In the Aesthetics of Capital light installation (2008) especially created for the Kunsthaus Graz, he bathes everything in a technoid computer-blue light. The installation uses eight projectors and visualization software (which also sees use in the money markets) to project market-type fluctuations on the interior wall of the building. The constantly changing images are real-time responses to search questions on Google involving different combinations of the words art, work, capital and freedom. The images are an indication of an elusive global state.

view >>> animation

Ronnie and the Depression

“A recession is when your neighbor loses his job. A depression is when you lose yours.” -Ronald Reagan, 1980

.. just some numbers …

Barry Ritholtz: “In doing the research for the “Bailout Nation” book, I needed a way to put the dollar amounts into proper historical perspective. If we add in the Citi bailout, the total cost now exceeds $4.6165 trillion dollars.
 
People have a hard time conceptualizing very large numbers, so let’s give this some context. The current Credit Crisis bailout is now the largest outlay In American history.
 
Crunching the inflation adjusted numbers, we find the bailout has cost more than all of these big budget government expenditures – combined:
 
• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

TOTAL: $3.92 trillion”

via boingboing

D.I.Y. - The artist as model of the crisis

My favorite example of our topic the role of artist Damien Hirst in regards of the crisis got a new contribution by a today’s SZ (Süddeutsche Zeitung) article. While the ‘hardcover copy’ of the newspaper titles ‘Mach’s doch selbst’ Daminen Hirst: Der Künstler als Leitbild der Krise the internet version reads as following:

Kunst und Krise / Mal gewinnt man, mal verlieren die anderen
Damien Hirst wusste schon die florierende Wirtschaft zu nutzen - nun meistert er ihr Scheitern. Der Künstler als Leitbild der Krise.
Artist and crisis / At times one wins, at times others loose
Damien Hirst knew how to use the flourishing economy - now he masters its failure. The artist as model of the crisis.
>>> just quickly posting the link (german only / here a private english translation pdf can be found

… more to follow

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