DC Politics Corruption

The Post ran a profile about a local businessman/fundraiser, Jeffrey Thompson (who calls himself “The Governor”), who has been ensnared in a fundraising and/or abuse of power scandal. It relates to the recent mayoral campaign and contracts for Medicaid managed care plans. It’s a good look at a local corruption story. This, however, jumped out.

Once, during a fundraiser, Thompson held court at the Hay-Adams hotel, according to a political consultant who spoke on the condition of anonymity because of the ongoing federal investigation. “I walked in, and there was Jeff at the head of the table. Beautiful china. All of a sudden, ding, ding, ding,” the consultant said, hitting a plate with a knife to demonstrate. “He had on a top hat — I swear. He took it off and said, ‘Gentlemen.’ He passed the hat around, and people filled it with checks.”

I have to point out that is clearly a breach of etiquette. One’s top hat is checked upon entry to the establishment.

Full story

What We Are Talking About When We Talk About Trayvon Martin

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The trial of George Zimmerman, a neighborhood vigilante who shot and killed Trayvon Martin, an unarmed black teenager who was walking back to his home after buying tea and Skittles at a convenience store, has gone to jury and there is no telling what the verdict will be. Most pundits and trial watchers feel the prosecution was less than convincing, particularly in proving that Zimmerman had intent or malice.

It seems that at any particular time we as a culture are following some Trial Of The Century or another. Part of this is the necessary consequence of having justice-themed news shows like Nancy Grace. The unquenchable maw of the newscycle demands fresh meat continuously. But Martin was not the photogenic blond victim that usually make the story line-up.

Kathleen Parker recently took a stab at why this trial in particular fascinates us.

The Zimmerman trial is riveting not because two men got in a scuffle and one of them died or because one was a teenager and the other an armed adult. It is that one was black, the supposed victim of a profiling vigilante, and the other white.

But that isn’t totally why the trial is news. It’s not that white guy shoots black punk, it’s what it took to get the case to be taken seriously. Most of the early outrage triggered by the descent of what some have called racebaiters was over how perfunctorily the initial investigation was. It wasn’t until the media storm started that the Barney Fife-ish Sanford Police Department took the case seriously. They knew who killed Trayvon Martin. They just didn’t think it was worth trying to send Zimmerman to jail over it. Arguably, second degree murder was publicity-driven over-reach, but Zimmerman didn’t even get charged with littering. The unknown hypothetical of whether it would have been treated differently if either party had been a different ethnicity is what set off the tinderbox.

As Juan Williams even-handedly puts it:

Liberal and conservative news TV and radio have played to the racial theme, too. The left, notably Rev. Al Sharpton, have made the case a crusade for racial justice. The right-wing media, especially talk radio, has responded by making Zimmerman a hero.

So what makes Zimmerman a hero to the right wing? That is a very complicated question. In part the trial is just as much about gun rights as it is about racial justice. This is the underdiscussed aspect of the left/right bifurcation on this trial. It comes down to the most loaded word in my typical formulation of the incident, ‘vigilante’. Just how culpable is Zimmerman for initiating the incident? He had a concealed carry permit and was within his rights to get out of his car and follow someone through open space despite the admonition of the emergency dispatcher not to. But there is always the fine line of having rights and the responsible exercise thereof.

Should Zimmerman have gotten out of the car in the first place? What did he mean by saying ‘Fucking punks. These assholes, they always get away’? Was it frustration over ineffective law enforcement in his neighborhood or was there racial animosity over ‘those’ people? Who struck the first blow? And does it matter?

Those biggest question the jury has to wrestle with seems to be: Was Zimmerman acting in self-defense? We will probably never know because Zimmerman has been verifiably less than truthful about that night. And the only other person who knows what happened is dead.

Weekend Open Thread—Religion………yikes

I’m very interested in religion and religious views, although I’d prefer to read what others have to say than share my own thoughts……….hah.  Seriously, religion has always been a highly personal thing for me and I don’t generally discuss my views.  In some ways it’s because they’re always evolving so what I say today I may not actually agree with tomorrow and I don’t like to be held to a standard of consistency.  Consistency isn’t something I’m well known for anyway, just ask Scott (that’s a joke btw).

I guess if I were to describe myself religiously it would be as an agnostic who enjoys attending church, but only very specific types of churches and each one for very different selfish reasons.  I also consider agnosticism as a true cop out but there I sit nonetheless.  I’m neither an atheist nor a Christian but I found this article on atheists, and agnostics to a lesser extent, enlightening if you will.

What kind of atheist are you anyway?  I think everyone will recognize me right away but I’m curious about the rest of you atheists.  Number six was my favorite but it’s not me.

6. Ritual Atheist/Agnostic. While you might think the anti-theist is the non-believer type that scares Christians the most, it turns out that it may very well be the Ritual Atheist/Agnostic. This group, making up 12.5 percent of atheists, doesn’t really believe in the supernatural, but they do believe in the community aspects of their religious tradition enough to continue participating. We’re not just talking about atheists who happen to have a Christmas tree, but who tend to align themselves with a religious tradition even while professing no belief. “Such participation may be related to an ethnic identity (e.g. Jewish),” explain researchers, “or the perceived utility of such practices in making the individual a better person.” The  Christian Post clearly found this group most alarming, titling their coverage of this study “Researchers: ‘Ritual’ Atheists and Agnostics Could Be Sitting Next to You in Church,” and giving the first few paragraphs over to concern that people in your very own congregation may not actually believe in your god. The atheism, it seems, might be coming from inside the house (of God).

Another subject that interests me, and one I’ve been reading an awful lot about lately especially in the context of politics, is ageism.  I don’t agree with everything in this piece but I did find it thought provoking.  As a ‘B Word’ boomer it’s always in the back of my mind of course that a lot of us are much worse off financially that we imagined we’d be (not me necessarily) and that we’ve become so reviled (hopefully that’s too strong of a word) by younger generations.  Republicans, and even some Democrats, are certainly using Hillary as an example of someone who is too old to run for President and it’s becoming pretty pervasive so I’m wondering who agrees.  I’m not a Hillary fan, and I’ve stated publicly that I hope she doesn’t run, but it’s only partially because I’d prefer to see someone younger run.

Anyway, I thought this showed a unique perspective on us boomers and you millennials as well.  For the rest of you……meh.  And true to form for my posts, there’s obviously something for everyone to hate in this piece.

It’s corruption, stupid. Like the majority of ’60s radicals, who came from liberal families, millennials feel betrayed by their parents’ generation. Instead of placing the blame on the doorsteps of K Street lobbyists, many see government as the problem.

“Government has obviously become a place where opportunistic people go to get rich,” said a 32-year-old Internet entrepreneur. “Most millennials know only Bill Clinton, who seemed kind of cool until it turned out he was a shill for corporations and the banking lobby, and Bush, who was unabashedly awful as we all know. Then there’s Obama, who seemed great until he turned out to be a lying, spying, bailer-out who gets all his advice from the same lobbyists he promised over and over ‘will not work in my White House.’ ”

That disenchantment is emerging in voting numbers. In 2008, Barack Obama won the 18-29 vote by 34 points. But in 2012, as disappointment with his performance rose, Obama’s edge among these voters dropped to 23 percent. The erosion of support wasn’t lost on Republicans. Like Latinos, the millennials are considered up for grabs in 2016.

Although the feeling of betrayal is understandable, there is something regressive and childlike about ascribing so much power to your parents. Viewing history through the lens of a generation has its limits. Idealists are always flawed, and every generation has its complement of hustlers, toadies and arrivistes. Historical forces larger than the individual determine winners and losers: in this case, globalization, technology, and America’s rise and fall as an imperial power.

And just for fun:

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Morning Report – Fed Unemployment Forecast 7/12/13

Vital Statistics:

  Last Change Percent
S&P Futures  1669.4 -0.7 -0.04%
Eurostoxx Index 2686.9 5.6 0.21%
Oil (WTI) 105.5 0.6 0.55%
LIBOR 0.268 -0.001 -0.19%
US Dollar Index (DXY) 83.05 0.306 0.37%
10 Year Govt Bond Yield 2.55% -0.03%  
Current Coupon Ginnie Mae TBA 103.9 0.8  
Current Coupon Fannie Mae TBA 103.4 0.1  
RPX Composite Real Estate Index 203 -0.2  
BankRate 30 Year Fixed Rate Mortgage 4.52    

 

Markets are flat this morning after yesterday’s big rally and good earnings reports from JP Morgan and Wells Fargo were offset by a miss from UPS. Bonds and MBS are up small.
 
The Producer Price Index (a measure of inflation at the wholesale level) increased .8% in June, but that was primarily driven by high energy prices. The core came in at .2%. Both readings were ahead of expectations. At 10:00, we will get the preliminary University of Michigan Consumer Confidence Survey for July.
 
The thing that jumped out at me from the Fed Minutes was the downward revision in unemployment expectations. The Fed lowered the 2013 unemployment forecast from 7.4% to 7.25%, they took down 2014 from 6.85% to 6.65% and took down 2015 from 6.25% to 6%. Given that GDP was not revised materially upward leads me to believe that they believe the labor force participation rate will remain low, which could be a drag on the economy. The other thing is that the market has had the expectation that a hike in the Fed Funds rate is going to be a 2015 event. Given that the Fed has given a threshold number for raising the Fed Funds rate of 6.5%, we could be looking at a late 2014 / early 2015 tightening. 

Open Thread Wed. & Ben

I figure a change in subject is appropriate.  I think Brent is in and out again this week so I’ll put up my big economic news of the week.

Federal Reserve Chairman Ben Bernanke said Wednesday that the Fed’s easy-money policy is still necessary, throwing cold water on fresh market expectations that the Fed’s stimulus would soon be ended.

Bernanke told an audience of economists in Cambridge, Massachusetts, that the jobs market remains too weak and inflation remains too low for comfort.

He also warned that the full impact of steep government spending cuts initiated in March was yet to be seen.

Together, the evidence underscored the need for the Fed to keep in place its highly accommodative monetary policy, he said.

“Both the employment side and the inflation side are saying that we need to be more accommodating,” he said, answering questions after a speech.

“Moreover, the other portion of macroeconomic policy, fiscal policy, is now actually quite restrictive…. Put that all together, I think you can only conclude that highly accommodative monetary policy for the foreseeable future is what’s needed in the US economy.”

His comments came just hours after the release of the minutes from the June 18-19 meeting of the Fed’s policy board, the Federal Open Market Committee, which suggested the central bank would move more rapidly toward winding up its $85 billion a month stimulus program.

 

TEXAS—–OMG

I’ve been out of touch the last couple of days due to network issues with wordpress but you’ll be happy to hear I’m back….hah.  And contrary to popular opinion Scott isn’t the one who’s always bringing up abortion……I am.  You might be asking yourself, why?  I’ll tell you why, because there are at least 10 states where the legal right to an abortion has been compromised to the point where they’re threatening the health of women who are in their reproductive years.

If what’s happening in Kansas is true I think it’s one of the most outrageous backwards slide in women’s healthcare that I’ve heard of recently and that’s balanced against the fact that I just found out we’re sterilizing female prisoners apparently against their will here in CA still.

Kansas

The first is a troubling provision to  redefine what constitutes a medical emergency so that pregnant women experiencing life-threatening complications — including hemorrhaging, infection and ruptured ectopic pregnancies – would be forced to wait at least 24 hours before obtaining an emergency abortion. After signing the legislation that would imperil the lives of pregnant women in medical emergencies, Republican Gov. Sam Brownback remarked: ”All human life is sacred. It’s beautiful. With this, we continue to build this culture of life in our state.”

And that brings me to Texas from the same link above:

And while Texas’ current battle over reproductive rights has grabbed unprecedented national attention, this isn’t the state’s first rodeo. During the 2011 legislative session, Texas lawmakers passed a two-year budget cutting $73 million from family planning programs. In 2012, Gov. Rick Perry dissolved the state’s partnership with the federal Women’s Health Program and forfeited millions in Medicaid funding for low-income women’s healthcare. Republican lawmakers were unabashed about the reasoning behind such extreme measures, which was, as state Rep. Bill Zedler, R-Arlington, openly  acknowledged to “defund the ‘abortion industry.”

Perhaps, as many conservatives claim, there are more women out there who support these restrictive measures than I imagine there are, and so I guess we’ll see what happens now that the GOP has picked abortion as their social issue of the decade since they’ve lost the war on gay marriage.

The occupation of the Texas state capitol by angry women caught the national imagination, perhaps due to the drama of Davis’s “Mr. Smith Goes to Washington” moment, which immediately went viral over the social networks. Similar mass protests by women have taken place elsewhere, too, including last week in Ohio — a pivotal presidential election state — where the Statehouse was crowded with women dissenters.

The importance of Davis’s stand, however, is the way it has inspired a nationwide discussion about the creeping encroachment on abortion rights that has been taking place without widespread media coverage in statehouses across the nation.

And I read somewhere yesterday that a pro-life protest in Austin with about 1,000 protesters bussed in from out of state was over run with over 5,000 local women and men protesting the upcoming abortion bill that’s sure to pass the TX legislature and be signed by the Governor.  I submit that this legislation is quite possibly happening not only against the will of the people but that the Texas GOP will pay a price.  Here’s a poem an abortion activist by the name of Katie Heim read yesterday which seems oddly appropriate for Texas.

If my vagina was a gun, you would stand for its rights,
You would ride on buses and fight all the fights.
If my vagina was a gun, you would treat it with care,
You wouldn’t spill all its secrets because, well, why go there.
If my vagina was a gun, you’d say what it holds is private
From cold dead hands we could pry, you surely would riot.
If my vagina was a gun, its rights would all be protected,
no matter the body count or the children affected.
If my vagina was a gun, I could bypass security,
concealed carry laws would ensure I’d have impunity.
If my vagina was a gun, I wouldn’t have to beg you,
I could hunt this great land and do all the things men do.
But my vagina is not a gun, it is a mightier thing,
With a voice that rings true making lawmakers’ ears ring.
Vaginas are not delicate, they are muscular and magic,
So stop messing with mine, with legislation that’s tragic.
My vagina’s here to demand from the source,
Listen to the voices of thousands or feel their full force.

And honestly, I keep thinking I’m done discussing the abortion issue, and then another state passes what I consider a life threatening restriction, or another Republican lawmaker makes a bone-headed statement and here I am again pointing it out.   I’m way beyond the point of caring about the issue personally, but as a woman, I think it’s important to keep the issue front and center as long as there are conservatives trying to undermine and reverse the right to abortion that women currently have to the extreme extent they’re doing it.

Morning Report – jobs report aftermath 7/8/13

Vital Statistics:

  Last Change Percent
S&P Futures  1634.1 6.8 0.42%
Eurostoxx Index 2654.1 58.1 2.24%
Oil (WTI) 102.5 -0.7 -0.72%
LIBOR 0.269 -0.001 -0.48%
US Dollar Index (DXY) 84.31 -0.140 -0.17%
10 Year Govt Bond Yield 2.68% -0.06%  
Current Coupon Ginnie Mae TBA 102.6 0.1  
Current Coupon Fannie Mae TBA 102.5 0.4  
RPX Composite Real Estate Index 203.5 -0.7  
BankRate 30 Year Fixed Rate Mortgage 4.64    

 

Markets are higher this morning as European stock markets rally.  Bonds and MBS are up
 
Friday’s jobs report turned into a bloodbath for bonds. The 10 year yield jumped 24 bps, as did the average 30 year fixed rate mortgage. Nearly 200,000 jobs were added in June, while May and April were revised upward by 70,000. Goldman and JPM moved up their estimate for the start of FEXIT (Fed exit) to the Sep FOMC meeting from the Dec meeting.
 
Given the unofficial 4 day weekend, trading desks were understaffed on Friday, which means the markets may have overshot. Thin markets tend to be volatile markets.
 
The jobs report did a number on mortgage backed securities as well. The Fannie Mae 4s had their worst day since the whole sell-off began as they lost nearly 2 points. That explains why the average 30 year fixed rate mortgage increased by 24bps on Fri.
 
Chart: Fannie Mae August 4s TBA:
 

 
We don’t have much in the way of economic data this week, with the exception of the FOMC minutes on Wed. That is probably the only thing that would be market-moving this week. The Western MBA Secondary Conference is this week in San Francisco, so a lot of traders will be out there for that. 
 
Alcoa kicks off 2Q earnings season after the close. 
 
The MR will be spotty the rest of the week as I will be in SF for the secondary conference

Morning Report – positive jobs report 7/5/13

Vital Statistics:

  Last Change Percent
S&P Futures  1620.0 10.9 0.68%
Eurostoxx Index 2625.8 -20.7 -0.78%
Oil (WTI) 101.8 0.5 0.53%
LIBOR 0.27 -0.001 -0.37%
US Dollar Index (DXY) 84.38 1.152 1.38%
10 Year Govt Bond Yield 2.68% 0.18%  
Current Coupon Ginnie Mae TBA 103.9 -0.5  
Current Coupon Fannie Mae TBA 102.6 -1.2  
RPX Composite Real Estate Index 203.5 -0.7  
BankRate 30 Year Fixed Rate Mortgage 4.4    

 

Green on the screen after a strong jobs report. Stocks are up, while bonds and MBS are getting hammered
 
Note: many desks are going to be understaffed today as senior traders take a 4 day weekend. Thin markets tend to be volatile
 
The jobs report was pretty good, which is why bonds are selling off. Payrolls increased 195k vs the 165k expectations and the prior two months were revised upward by a total of 70k. The unemployment rate stayed the same at 7.6%. The labor force participation rate ticked up .1%. Hourly  earnings increased, while hours were unchanged. 
 
The employment report probably does not change anything with respect to the Fed’s intentions. They plan on tapering back purchases this year, and plan to end QE entirely when the unemployment rate reaches 7%, which they expect to happen in mid 2014. 
 
With this report, the 10 year bond yield spiked to 2.68%. We should be best-exing into 4s at this point.
 
The MR will be spotty next week as I will be in SF for the Western Secondary Conference.

Bites & Pieces: A Postcard from Costa Rica

I arrived in Costa Rica on Monday night after far too long an absence from my favorite home away from home. We started taking our sons their for a month in the summertime a few years ago. I was going to be away at a conference and my better half (Keen) was offered work out of town that overlapped my conference. Rather than give up on work at a slow time and lacking a kennel in which to put the boys, we worked out something else. I flew down to Costa Rica with them, dropped them off with their grandmother, and flew back to DC before going on to my conference. Keen flew down after finishing her assignment and spent the rest of August. It worked out so well, that they’ve spent 4 – 6 weeks in Costa Rica every summer since then. In honor of our annual trip, I thought I’d post a few of my favorites that I associate with Costa Rica, one way or another.

Breakfast – Gallo Pinto

Every country in Central America claims to have invented Gallo Pinto, but the Ticos do it best. I say this with absolute confidence, never having visited Guatemala, Honduras, El Salvador, Nicaragua, or Panama (and let’s not forget Belize). My confidence in Costa Rican Gallo Pinto is that I can’t imagine having it without Salsa Lizano. It’s the same general class of condiment as steak sauce in the US and relish in the UK (Worcestershire sauce is one of many). It’s rice and beans with a twist.

Ingredients

1/4 cup of vegetable oil
2 cups of white rice, cooked
2 cups, black beans, cooked (or 1 can, drained)
1 medium onion, minced
2 cloves garlic, minced
1 carrot, (you guessed it) minced
1 bell pepper, (and wait for it) minced
Salsa Lizano or other seasoning, to taste

optional: cilantro leaves or diced tomato for garnish

Method

Heat oil in a heavy frying pan and add the minced veggies. Cook until soft and then add the rice. Stir for a bit until warmed and mixed with the veggies, then add the black beans. Season well with Salsa Lizano. I like to let it cooked unstirred for a bit to build up a crust on the bottom or just cook and stir until hot. This is a staple of Costa Rican kitchens, usually served at breakfast with tortillas, queso duro (hard cheese) and scrambled eggs. Garnish with cilantro leaves or some diced tomato if you like. It’s great with some mango or papaya on the side.

Lunch – Ceviche

Peruvians hold claim to this sushi from the south and you can usually get the best ceviche at a restaurant run by Peruvians. I had my first taste of ceviche at a little joint near Manuel Antonio, a national park on the Pacific coast. The basic concept is simplicity itself. Cut up fresh fish into rough dice–dorado (mahi-mahi) and corvina (sea bass) and cover with lime juice. The juice “cooks” the fish, firming it up as if it had been cooked with heat. The acid should also kill off various beasties, but this is not the same as cooking, so you need to use high quality fish. Make sure it’s sushi grade for salmon unless you want to risk a tapeworm. After a period varying from a few minutes to hours (depending upon the fish and how you like it), drain and toss with minced onion, tomato, possibly some chiles, and cilantro. Serve with tortilla chips and, if you’re Costa Rican, salsa rosada. This “rose sauce” is a mixture of ketchup and mayo, but we like to use plain yogurt instead. Tangy and tasty.

I’ll add a pair of recipes from a book on ceviche that was given to me by a friend. Guillermo Pernot, the author, was the chef-owner of ¡Pasion! in Philadelphia (since closed) and now is the concept chef of the Cuba Libre restaurants. The first of these combines whole bay scallops with a blackened tomatillo salsa and truffel oil. Indulgent and a favorite of mine for parties. The second recipe combines sea scallops with grapefruit for a colorful presentation. Make sure to use high quality scallops; wet pack won’t do.

Bay Scallop Ceviche with Truffle Tomatillo Salsa

1 pound fresh, untreated bay scallops or sea scallops, trimmed and quartered
1 cup fresh lime juice
1/4 cup fresh orange juice
3 tablespoons finely diced red
2 tablespoons finely diced serrano chilies (specialty Latin
1 tablespoon kosher salt

3 tablespoons extra virgin olive oil
1/2 pound fresh tomatillos, husks removed, rinsed
1/2 pound ripe plum tomatoes
1 red onion, quartered and unpeeled
1 jalapeno chili
4 cachucha chilies
1 bunch fresh cilantro leaves
1/2 cup fresh lime juice
3 tablespoons truffle oil
Kosher salt and freshly ground black pepper, to taste

2 tablespoons crushed platano chips (recipe follows)
12 whole platano chips

1. Combine the lime juice, orange juice, onion, serrano chilies and salt. Add the bay scallops and toss to combine. Cover and refrigerate for 24 hours.

2. In a large saute pan, heat 1 tablespoon of the olive oil over moderately high heat. Add the tomatillos, tomatoes, onion, and chiles. Cachucha chiles look like habañeros, but without so much heat. You can use a couple more jalapeños instead. I often toss all the ingredients with oil and broil them in the toaster oven. Works about the same. Let the blackened veggies cool and stir in the cilantro. Pulse in a food processor until chopped, but chunky. Pernot likes to use a meat grinder for a different texture. Combine the vegetable mixture with the lime juice, truffle oil, remaining 2 tablespoons olive oil, salt and pepper. Taste for seasoning, cover and refrigerate for up to 1 day.

3. Put it all together. Drain and discard the liquid marinade. In a medium bowl, combine the marinated scallops with most of the blackened tomatillo-truffle sauce. Cover and refrigerate 20 minutes to marinate. When ready to serve, drain the scallops of excess liquid, and toss with the remaining blackened tomatillo-truffle sauce. Adjust the seasoning, adding salt and pepper if necessary. Divide the ceviche among soup spoons laid on a platter. Sprinkle with crushed plantain chips just before serving, accompanied by bowls of plantain chips.

You can make plantain chips on your own by frying planks of green plantains in oil and draining on paper towels. Or just buy a bag of them.

Sea Scallop Ceviche with Grapefruit and Radishes

1/2 pound of sea scallops, cut into two rounds each
3/4 cup of ceviche marinade
2 ruby grapefruit
6 red radishes
1 lime, juiced (about 2 tablespoons(
pinch hot pepper flakes
1/2 tsp. kosher salt
1 tablespoon chiffonade of basil (regular or Thai)
1 tablespoon chiffonade of mint

Combine the scallops with the marinade and refrigerate for 30 minutes. Slice away the skin and membranes from the grapefruit and set aside. Combine the lime juice, pepper flakes (if using), salt, and herbs. Thinly slice the radishes and add half the juice/herb mixture. Drain the scallops of the marinade and add the remaining juice & herbs. Divide the scallop rounds into four plates. Place the grapefruit segments around the outside and a pile of radish juliennes in the center.

Marinade for Ceviche

1/2 cup fresh lime juice
1/4 cup fresh orange juice
2 tsp. kosher salt

Afternoon – Bebidas

I’m sure you’re a bit thirsty from that walk along the beach and could use something refreshing. I would suggest jugo en leche (mango or papaya, blended with milk) or pipa for non-alcoholic drinks. For the latter, grab a green coconut, whack off the top with a machete, and stick a straw in it. Lacking a green coconut or a machete, you can always pick up some coconut water at the market. It also makes a great piña colada. Use the coconut water instead of that stuff in a can, blend with fresh pineapple and rum and enjoy. As long as we’re discussing alcoholic beverages, I might suggest a nice, cold Imperial (which you can sometimes find in the US) or a Cuba Libre (rum and coke with lime juice).

Dinner – Black Bean Risotto

Let’s head over to the other side of Costa Rica, also known as the Mosquito Coast. Many Caribbean workers came to Costa Rica to build the railway between San José and Limón, on the Caribbean coast. Many stayed, giving that coast a distinct cultural and culinary flavor. We spent our honeymoon in Punta Cocles, about two hours south of Limón and just north of the Panamanian border. It was the worst road I’d ever driven. At times, it seemed there were more potholes than highway. Once you get there, it’s worth the drive. We hung out and had a lot of good food. One dish that stood out for me was the Caribbean style rice and beans. It’s made with coconut milk and served with chilero, a spicy vegetable mix of bell pepper, carrot rounds, and hot peppers (habañeros), all steeped in vinegar. Some time later, I had the idea of making a risotto with black beans and used this dish as my inspiration.

Ingredients

Brodo
4 cups chicken stock
1 cup coconut milk (2/3 of a can)
½ cup dry white wine (or more broth)

Soffritto
2 tablespoons butter
1 tablespoon vegetable oil
1/3 cup finely minced onion

Riso
1 ½ cups short grain rice (Arborio or Carnoli, though sushi rice works well)
1 ½ cups cooked black beans or 1 can, drained and rinsed

Condimenti
½ cup coconut milk (1/3 can)
½ bunch cilantro, washed, thick stems removed, chopped to make about ¼ cup
Queso duro or fresco, crumbled for garnish

Method

1. Bring broth to a steady simmer in a saucepan on the stove. Add coconut milk and return to simmer.
2. Heat the butter and oil in a heavy casserole or dutch oven over med. heat. Add the onion and sauté for 1 to 2 minutes until it softens.
3. Add the rice to the soffrito, stir using a wooden spoon until the grains are thoroughly coated. Add the wine and stir until it is completely absorbed. Add the simmering broth, ½ cup at a time. Stir frequently until almost completely absorbed and add the next ½ cup.
4. Add coconut milk and cilantro and remove from heat. Stir completely to combine with the rice. Add the black beans near the end of cooking.
5. Put the risotto on serving dishes. Sprinkle with crumbled queso. Top with chilero or serve on the side. This dish is also good when topped with grilled shrimp or fresh mango.

Serves 4.

Chilero

8 chiles, preferably Scotch bonnet or Habañero
1 large onion, yellow or sweet (Vidalia)
1 large or several small carrots
1 red bell pepper
Cider or white vinegar

Cut the onion and bell pepper into 1/2″ chunks. Peel the carrot(s) and slice into rounds. Wearing gloves, cut the chiles in half and remove the seeds. Toss all vegetables and put in a large mason jar. Fill to the top with vinegar. I like cider vinegar for this recipe, but white vinegar should do as well. White wine vinegar might work, but isn’t really needed. Let sit for at least a week.

Dessert – Alfajores

These cookies are a favorite indulgence of mine. It’s two small sugar cookies with dulce de leche in the center and topped with powdered sugar. The cookies are made with cornstarch instead of flour and so are quite soft. They’re great with coffee, preferably Costa Rican of course.

Ingredients

1 1/2 sticks butter (3/4 cup)
1 cup sugar
1 egg
2 egg yolks
2 1/2 cups cornstarch
1 cups all-purpose flour
1 tsp. vanilla extract
1/2 tsp. baking powder
Zest of 1/2 lemon
Dulce de Leche

Method

Cream the butter and sugar together. Add the remaining ingredients except the dulce de leche and coconut and mix well. Turn onto a floured work surface and knead until the dough is smooth. Let the dough rest for 15 minutes.

Roll the dough out to a thickness of about 1/4 inch and cut into 2-inch rounds. Place on a greased cookie sheet and bake in a preheated 300°F oven for 20 minutes. When cool, spread some dulce de leche on the bottom of half the cookies and make a sandwich with the remaining cookies. Squeeze the sandwiches so that some of the dulce de leche is squeezed out the sides, and roll the sides in the grated coconut. Makes about 12 cookie sandwiches. Dust with powdered sugar.

Gallo Pinto2

alfajores

Independence Day

4thfireworks1

Variously known as the Fourth of July and Independence Day, July 4th has been a federal holiday in the United States since 1941, but the tradition of Independence Day celebrations goes back to the 18th century and the American Revolution (1775-83). In June 1776, representatives of the 13 colonies then fighting in the revolutionary struggle weighed a resolution that would declare their independence from Great Britain. On July 2nd, the Continental Congress voted in favor of independence, and two days later its delegates adopted the Declaration of Independence, a historic document drafted by Thomas Jefferson. From 1776 until the present day, July 4th has been celebrated as the birth of American independence, with typical festivities ranging from fireworks, parades and concerts to more casual family gatherings and barbecues.

I’m always curious what others are doing to celebrate the 4th. of July.  I worked my butt off yesterday to clean, shop and cook for a big party so we’re in the “casual family gathering and barbeque” category.  If I have time this morning and I’m as organized as I think I am we may wander down to the 6th. Street Parade but we’ll see.  The city will shoot off fireworks this year again, we’ve been dark lately because of budget cuts, and we’ll watch them from our balcony.  We have about 35 or 40 people coming and we’ll swim, play horse shoes, listen to music (which inevitably leads to dancing) and drink at least one keg of our son’s latest brew.

I enjoy this holiday, my grandfather (7 times removed) was a Captain in the Revolutionary Army who also had numerous slaves and apparently two wives on opposite sides of the river with 15 to 17 kids between them (reports vary).  I’m a sucker for a flag and a patriotic holiday.

Hope you all enjoy your day and the long weekend.