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Friday Open Thread

by Fran
Fri Aug 22nd, 2008 at 09:09:54 AM EST

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Windmills really seem to become the standart. I took the picture on the FP on my way to Prague, while I had to change trains in Dresden. This is a toy train in a locker room, but it got it's own windmill. :-)
by Fran (fran at eurotrib dot com) on Fri Aug 22nd, 2008 at 09:12:21 AM EST
A 'near' great photo for Jerome.

What is the frustration? That the lattice tower is 'old' design, the type of design that contributes to bird kill/such.  Too often, the artistic (newspaper, otherwise) display of wind turbines show tower designs 20 or more years old, rather than a 21st century approach

Blogging regularly at Get Energy Smart. NOW!!!

by a siegel (siegeadATgmailIGNORETHISdotPLEASEcom) on Fri Aug 22nd, 2008 at 10:24:39 AM EST
[ Parent ]
See, that's what happens when laypersons take picuters. :-)
by Fran (fran at eurotrib dot com) on Fri Aug 22nd, 2008 at 10:27:41 AM EST
[ Parent ]
and you were so proud of that picture too.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 11:11:57 AM EST
[ Parent ]
Not quite on the mark a siegel.  When combined with hi-speed downwind turbines, in very specific types of terrain, lattice towers are a problem.  And that's only for small downwind machines.  Lattice towers, properly sited on modern slow rotation turbines are fine.  Especially as virtually all large modern turbines are upwind design.

Here's a shot of the 2.5MW Fuhrländer turbine licensed from one of Germany's top design shops, Wind-to-Energy or W2E.

It's on a 160m lattice tower a bit north of Berlin, world's tallest, installed end of 2006.  Lattice towers are the cheapest way to get up into the stronger winds, though there are trade-offs.  They also can be worthwhile on tough ridgeline terrain.

Skennah Kowa

by Crazy Horse on Fri Aug 22nd, 2008 at 11:21:53 AM EST
[ Parent ]
But is it a good design for a windmill sitting inside a sealed tank?

you are the media you consume.

by MillMan (millguy at gmail) on Fri Aug 22nd, 2008 at 04:30:37 PM EST
[ Parent ]
An interesting exercise might be to take the annual reports of the Fortune 500 companies and see how many of them have a wind turbine in a prominent place, including on the front page...

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (jeromeguillet@yahoo.fr) on Fri Aug 22nd, 2008 at 12:03:43 PM EST
[ Parent ]
Toy? Model!

Flight Of The Phoenix Script - transcript from the screenplay and/or Jimmy Stewart movie

[Capt. Frank Towns:] It might be better not to mention to the others... about, uh, being a toy plane designer.

[Heinrich Dorfmann:] Toy plane designer?

[Capt. Frank Towns:] Lew and I feel it might upset them.

[Heinrich Dorfmann:] Mr. Towns-- Mr. Towns... a toy plane is something you wind up... and it rolls along the floor. A model airplane is something totally different. Model airplanes have been flying successfully... more than years before the Wright brothers... ever got off the ground. They were not toy planes.

;-)

*Traitor*, n.
A benighted individual who perceives an illusory distinction between serving his nation and abetting the criminals who govern it.

by DoDo on Fri Aug 22nd, 2008 at 01:26:14 PM EST
[ Parent ]
Last week, I was in Husum, and noticed a real estate ad in a window. At the bottom, there was a small model of a country house. Next to it was a wind turbine. They seem to have become a symbol of peaceful country living.
by gk (g k quattro due due sette "at" gmail.com) on Tue Aug 26th, 2008 at 04:11:25 AM EST
[ Parent ]
I'd comment, but I need to have a cigarette and a cup of coffee, and get back to counting my houses, if y'all will excuse me.

(walks away giggling)

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 09:58:17 AM EST
Carnage.

But in a fun way. :)

by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Aug 22nd, 2008 at 10:12:59 AM EST
[ Parent ]
This is the greatest story since Daddy Bush was amazed at the super market scanners back in '92.  He's even getting slaughtered by the local Fox stations.  All over the networks, the local papers, the cable news.  It's beautiful.  And the discussions of most people around America's water-coolers is going to be easy to predict: "How the hell does someone not know how many houses he has?  WTF?"

I'm still waiting on Team O to launch an ad on the $273k the McCains spent on butlers for however many houses they have.  And, really, we still haven't received an answer on how many houses they have.  His, er, staff never got back to us.

This could be a gift that keeps on giving, and it's a beautiful narrative in an election on the economy.  I was pissed that they didn't go after him on the draft instead of the housing thing, but I'm now pretty sure I was wrong, and we can save that for later anyway.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 10:18:48 AM EST
[ Parent ]
Political Ticker (CNN blogs): Obama takes swipe at McCain over houses
The Republican's campaign continued to press their long-time charge that Obama himself is an elitist. "Does a guy who made more than $4 million last year, just got back from vacation on a private beach in Hawaii and bought his own million-dollar mansion with the help of a convicted felon really want to get into a debate about houses?" said McCain spokesman Brian Rogers. "Does a guy who worries about the price of arugula and thinks regular people 'cling' to guns and religion in the face of economic hardship really want to have a debate about who's in touch with regular Americans?
What would happen if the presidential campaign focused on McCain's $40M net worth and his wife's $100M, as well as Obama's $1M and his $4M income?

What if they realised that their entire political class is too wealthy to pretend to be "of the people"?

Bring it on! Do the Republicans realise what they're getting themselves into?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 10:26:44 AM EST
[ Parent ]
In a comparison between McCain and Obama on personal finance, I'm confident we win, so hell yeah: Bring it on.  Our guy got it by selling a ton of books.  McCain got it by leaving his wife and children to marry Skeletor the Beer Heiress.

Look at their response to.  It's all over the place.  "Elitist!  Out of touch!  A-R-U-G-U-L-A!!!!!!!!!!!!!!" as Boo said yesterday.

I must say I don't get the arugula thing, because I'd venture to guess quite a few working-class Italian-American families eat a lot of arugula (or "rocket" as it's known in Italian communities).

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 10:33:59 AM EST
[ Parent ]
Skeletor the Beer Heiress

Scratch that.  Sorry, Cindy is the Crypt Keeper.  Andrea Mitchell is Skeletor.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 10:35:57 AM EST
[ Parent ]
of arugula (or "rocket" as it's known in Italian communities).

And other bastions of civilisation.
by Colman (colman at eurotrib.com) on Fri Aug 22nd, 2008 at 10:36:38 AM EST
[ Parent ]
Well, okay, but here I've only heard it called "rocket" by Italians.  The rest of the population calls it arugula.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 10:44:29 AM EST
[ Parent ]
I've only ever heard it called arugula by Italians.  Who calls it "rocket"?  That's silly.  I'm going to start calling spinach "spaceship" just to confuse people...

Weirdly complicated foods you need a culinary degree to make (souffle) or obnoxiously expensive items (caviar) or anything widely associated with the French (snails), I can understand.  But eating a plant that just grows out of the ground seems, I don't know, normal, human, ... humble.  Bunnies do it.  Elitist bunnies!!

"This is nothing compared to how Putin rigged Eurovision."

by poemless on Fri Aug 22nd, 2008 at 11:44:40 AM EST
[ Parent ]
this looks like it's gonna be one of those european words being different from aemrican ones.

Arugula = rocket
Eggplant = aubergine
zuchini = courgette

tomayto = tomahto

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 12:10:27 PM EST
[ Parent ]
Arugula in Italian is rucola or rughetta
by Fran (fran at eurotrib dot com) on Fri Aug 22nd, 2008 at 12:25:10 PM EST
[ Parent ]
Which is not that far away from rocket (you have r[o/u][g/k] sounds in all the names given).

Arugula probably comes from la rucola being confused for l'arucola (something that happens quite often in both directions among uneducated Spanish speakers) and then arucola > arugula is a common phonetic derivation (the latter is easier to pronounce).

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 12:28:46 PM EST
[ Parent ]
Latin eruca (apparently a reference to downy stems in plants) gives Italian ruchetta => French roquette => English rocket.

Which is indeed related to arugula (see Webster's definition.

We can all sigh with relief and congratulate each other on the heartwarming interconnectedness of our culture.

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Aug 22nd, 2008 at 04:33:52 PM EST
[ Parent ]
And pancake = pancake.

Only - not.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Aug 22nd, 2008 at 12:38:39 PM EST
[ Parent ]
Are they pancakes we can believe in?

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 12:57:33 PM EST
[ Parent ]
baby marrow = some kind of squash or zucchini
by Zwackus on Sat Aug 23rd, 2008 at 02:41:33 AM EST
[ Parent ]
In French, it's "roquette", which id pronouced like "rocket";

"Ne te courbe que pour aimer..." René Char
by Melanchthon on Fri Aug 22nd, 2008 at 01:24:09 PM EST
[ Parent ]
Obama is concerned about the price of salad greens!!! Elitist! Red-blooded Americans eat red meat (ground, in a bun).

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 10:37:04 AM EST
[ Parent ]
The bun is also made of meat.
by Colman (colman at eurotrib.com) on Fri Aug 22nd, 2008 at 10:40:44 AM EST
[ Parent ]
As are all the condiments.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 10:43:59 AM EST
[ Parent ]
And the red-blooded American.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Aug 22nd, 2008 at 10:50:20 AM EST
[ Parent ]
As in meathead.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 11:48:50 AM EST
[ Parent ]
Except the catsup. That's a vegetable.
A Chance to Feast on Reagan
A Chance to Feast on Reagan


Never underestimate their intelligence, always underestimate their knowledge.

Frank Delaney ~ Ireland

by siegestate (siegestate or beyondwarispeace.com) on Fri Aug 22nd, 2008 at 05:52:59 PM EST
[ Parent ]
Not just salad greens, yuppie salad greens. Red staters only eat iceberg lettuce.

you are the media you consume.

by MillMan (millguy at gmail) on Fri Aug 22nd, 2008 at 12:58:50 PM EST
[ Parent ]
Also known as 'head lettuce', as in lettucehead.  That stuff is less tasty than an iceberg may be and ought to be outlawed as fodder, unfit for human consumption.

Then, there is yummy, Boston-head lettuce, or bib lettuce.  Bibhead...

Our knowledge has surpassed our wisdom. --Charu Saxena.

by metavision on Fri Aug 22nd, 2008 at 03:24:20 PM EST
[ Parent ]
What would happen if the presidential campaign focused on McCain's $40M net worth and his wife's $100M, as well as Obama's $1M and his $4M income?

Most of the tradmed would spontaneously combust if something as genuinely fair and balanced as that were to happen. But we all know that ain't gonna be how it happens. They'll just ignore McCain's zillions, cos he does a barbecue and beer and yuks it up with the guys on the bus, while Obama eats arugula, which most of the press pretend they've never heard of.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 10:51:18 AM EST
[ Parent ]
When was the last time McCain rode a bus?

At least Obama was once a Chicago urban comminity organizer, which means he may have once ridden the bus and by not doing it any longer is a class traitor!!!

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 10:53:31 AM EST
[ Parent ]
The campaign bus is actually a super-luxury coach (with a few dents).

That's how McCain gets moved around between close events and to the airport.

I didn't mean Greyhound or anything like that. I doubt there's a single politico in DC who's ever travelled on a real bus.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 11:11:09 AM EST
[ Parent ]
Dunno about buses.  I do know that Biden apparently takes the train in from Delaware every day.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 11:12:48 AM EST
[ Parent ]
Oh, you meant that bus... The "Straight Talk Express", isn't it?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 11:46:44 AM EST
[ Parent ]
The Stray Cock Express.

That's going to catch on as soon as Mike Stark gets his shot at McCain on camera.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 11:52:05 AM EST
[ Parent ]
Does the Air Force provide a C5 to fly the "Straight Talk Express" around the country, do they have drivers to shuttle it around while he takes Cindy's plane, or do they have regional copies of the bus?

While I am in this state of mind, is there any video of Cindy getting her hand crushed by a supporter?  If not, why not?  And has Johnny stopped abusing the c*#@?

If sanity be culturally normative, then by the norms of this culture I claim insanity.

by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 11:57:48 AM EST
[ Parent ]
Nope.  From this morning USAToday (a pretty right-wing paper):

McCain, who has portrayed Obama as an elitist, is the son and grandson of admirals. The Associated Press estimates his wife, a beer heiress, is worth $100 million. Obama was raised by a single mother who relied at times on food stamps, and went to top schools on scholarships and loans. His income has increased from book sales since he spoke at the 2004 Democratic convention.

They count twelve houses, by the way.  Time for Obama to roll out an ad apologizing to McCain for low-balling him on it.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 11:15:42 AM EST
[ Parent ]
Yea, but USAToday isn't exactly the most influential newspaper on the stands is it ? I bet they haven't even got a correspondent worthy of a McCain BBQ invite.

It only matters when it becomes the standard view on telly or WaPo, NYT or LAT. Till then it's just forgotten. Oh look Michelle's angry, Barak's got a pissed-off pastor, that kind of thing. Nada about the comparison with McCain's wife on a drug-dependency, or his problems with numerous scary right-wing bigot priests. Everything about Edwards infidelity, nothing about McCain's.


keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 11:36:31 AM EST
[ Parent ]
USAToday has the largest circulation in the country.  Higher than the NYT and WaPo combined, I believe.  So while, true, it's not terribly influential among the talking heads, it's readership alone makes it influential among normal people.

CNN has also begun covering McCain's infidelity a bit.  I dunno if it'll get big play -- probably not in the way this housing thing will -- but we'll see.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 11:41:00 AM EST
[ Parent ]
It is the default newspaper, the one you can always get at any airport, etc.  Almost any local paper is more informative.  But most don't share my tastes.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 12:01:38 PM EST
[ Parent ]
Yes, it's the default paper for the entire country in airports, hotels, etc.  The circulation is high partly because it's free in a lot of places.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 12:03:37 PM EST
[ Parent ]
I also love that Fox News even refused to run this anti-Obama ad on Bill Ayers.  When Fox won't even air the Swift-Boating, you got problems.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 10:21:19 AM EST
[ Parent ]
Murdoch has a pretty shrewd instinct for winners and losers as we saw when he swung the "Sun" behind Blair...
by ChrisCook (cojockathotmaildotcom) on Fri Aug 22nd, 2008 at 10:32:50 AM EST
[ Parent ]
That's my thought on it.  Certainly Chris Wallace has been behaving well for a while, and I think it's because he's afraid to get completely shut out if Obama wins.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 10:34:58 AM EST
[ Parent ]
by Jerome a Paris (jeromeguillet@yahoo.fr) on Fri Aug 22nd, 2008 at 05:59:37 PM EST
[ Parent ]
The Financial Times Construes Propaganda - Moon of Alabama

Finally Russia is losing the war against Georgia!!! Investors are rushing out of the country!!! There might be a financial crisis in Russia!!! The power of the 'global markets' are fighting Russia!!! This will provide 'an important check on Kremlin decision-making'!!!

So is the Financial Times telling its readers today. Under the headline Investors quit Russia after Georgia war it asserts:

Investors pulled their money out of Russia in the wake of the Georgia conflict at the fastest rate since the 1998 rouble crisis, new figures showed on Thursday.

Russian debt and equity markets have also suffered sharp falls since the conflict began on August 8, with yields on domestic rouble bonds increasing by up to 150 basis points in the last month.

Money is fleeing the country, the rouble crisis, sharp falls in the stock market, increasing yields ... terrible indeed.

Now may we check the numbers please?

by Fran (fran at eurotrib dot com) on Fri Aug 22nd, 2008 at 11:57:36 AM EST
Oh, it gets even better!

FT: The oligarchs could be Russia's best bet, By Chrystia Freeland

May very well be the most entirely delusional piece of journalism I have seen in the past two weeks.  Which is saying a lot.

"This is nothing compared to how Putin rigged Eurovision."

by poemless on Fri Aug 22nd, 2008 at 12:52:12 PM EST
[ Parent ]
funny idea


Anyone else think it would be wildly hilarious if Obama sent the phone/text message announcement of his running mate at 3:00 AM?

Mnmvores?


As corn prices are going up, large scale factory farm operations are looking for cheaper foods to feed cattle. Among new cost cutting measures, mixing reject M&Ms and potato chips with corn feed is no longer uncommon. Of course compared to the dangerous but routine practice of feeding slaughterhouse waste, blood, and manure to feedlot animals, M&Ms and potato chips don't sound that bad. In the meantime, cattle ranchers raising grass-fed beef are struggling to stay in business, as more people are buying the cheap stuff.


In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (jeromeguillet@yahoo.fr) on Fri Aug 22nd, 2008 at 11:58:43 AM EST
One doubts that Hillary has her iPhone set for loud ring for this one.  It would be a comical wake-up call.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 12:06:49 PM EST
[ Parent ]
Surely one doubts Hillary even has an iPhone or is even somewhat familiar with the device?

I think it'd be more fun to send it to McCain.  Interrupt his sleep cycle so that he's in awful shape the next day.  "MRNIN SUNSHINE I <3 BIDEN SO MITT=PWN3D LOL!"

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 12:14:07 PM EST
[ Parent ]
Surely one doubts Hillary even has an iPhone or is even somewhat familiar with the device?

That is what 20 and 30 something children and aides are for.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 01:38:47 PM EST
[ Parent ]
Stocks jump on prospect of Lehman buyout
From the Associated Press, From the Associated Press
7:49 AM PDT, August 22, 2008
NEW YORK -- Stocks rose sharply today as oil retreated from this week's rally and as speculation grew that Lehman Brothers Holdings Inc. could be sold. The Dow Jones industrial average rose 180 points.

-Skip-

Investors appeared cheered by an inflation forecast from Federal Reserve Chairman Ben Bernanke who said at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyo., that inflation pressures should moderate this year amid tepid economic growth. But he also added that the inflation forecast remains "highly uncertain."



If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 12:20:03 PM EST
Chairman Ben Bernanke ... said ... that inflation pressures should moderate this year amid tepid economic growth. But he also added that the inflation forecast remains "highly uncertain."

He doesn't know when he will have to create $1 Trillion to cover Fanny, Freddie and the FDIC.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 12:23:50 PM EST
[ Parent ]
Well, he may be right.  Quite a few people who've been pretty damned good at predicting the economy recently have suggested that inflation will come down quite a bit.  Roubini, for one.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 12:32:14 PM EST
[ Parent ]
DEFLATION anyone? Far more dangerous!

I told Bush; don't play chess with the freakin' Russians.
by LEP (rafifoon@yahoo.com) on Fri Aug 22nd, 2008 at 01:03:04 PM EST
[ Parent ]
It's possible, but you'd need a pretty big, and sustained, fall in energy and food.  I don't think the fundamentals really support it, although I'm going to be interested to see what happens in China and other emerging markets whose stock markets have experienced some pretty alarming crashes.  I think Shanghai is down -- what, about 70%?  I'm sure that'll have a real effect, but how large?  That I don't know.

High inflation is just as scary anyway.  People's incomes are being blown away now, unlike the slow, more-easily-adjusted-to drip they experienced for most of the Bush years.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 01:10:49 PM EST
[ Parent ]
Collapse of M3 Spells Deflation

    There was good news yesterday for all those who mistakenly think inflation is worth worrying about: The U.S. money supply experienced its sharpest contraction in modern history. For the rest of us, this can only spell one thing: ruinous D-E-F-L-A-T-I-O-N.

The Automatic Earth

I told Bush; don't play chess with the freakin' Russians.

by LEP (rafifoon@yahoo.com) on Fri Aug 22nd, 2008 at 02:04:06 PM EST
[ Parent ]
We are certainly experiencing deflation of real estate assets and they are at the base of the economy.  If in an attempt to minimize the damage to the financial sector, which created this disaster, more and more money is created to provide for serial bail outs, that will certainly be inflationary.  Once inflation has destroyed the monetary system, all financial wealth would be destroyed along with it, aside from gems and precious metals.  Then assets would remain to those who survive.

Those assets include land and buildings, such natural resources as remain, especially renewables, social infrastructure including roads, railroads, bridges, communications networks, schools and universities along with the accumulated knowledge of the last few thousand years and the knowledge and abilities of the survivors.

The problem is that it is difficult to see how this will play out and the sequence makes a lot of difference to surviving with anything left to an individual.  Response to rampant inflation must be different than response to deflation.  

If sanity be culturally normative, then by the norms of this culture I claim insanity.

by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 04:11:18 PM EST
[ Parent ]
M3 isn't the one to focus on.  M2 is, which is why many of us warned that people were slipping into conspiracy theories when criticism of the Fed for no longer publishing it came around.  The libertarians push the M3 argument, mainly (I'm guessing) because they believe all central banks are evil and want to have their beliefs about gold supported.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 04:30:30 PM EST
[ Parent ]
See the discussion under my diary The M3 money supply: much ado about nothing? (October 6th, 2007)

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 04:45:12 PM EST
[ Parent ]
Isn't the point that if the money supply, however one defines it, is decreasing, deflation is on the way? Isn't that the classic definition of inflation?

I told Bush; don't play chess with the freakin' Russians.
by LEP (rafifoon@yahoo.com) on Fri Aug 22nd, 2008 at 05:10:37 PM EST
[ Parent ]
Sure, but the definition of money matters a great deal here.  What's money?  The coins and notes?  The virtual cash in checking accounts?  A CD or stock or bond?

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 05:15:56 PM EST
[ Parent ]
But wasn't Migeru arguing in the diary he cites that M2 and M3 move in concert? By the way, I'm not an economist; I'm just faking it!

I told Bush; don't play chess with the freakin' Russians.
by LEP (rafifoon@yahoo.com) on Fri Aug 22nd, 2008 at 05:37:15 PM EST
[ Parent ]
Interesting. "Could be sold"?

FT Alphaville: Lehman could see hostile bid: Bove (August 22nd, 2008)

Lehman Brothers is a candidate for a hostile takeover, according to Ladenburg Thalmann analyst Richard Bove who on Thursday changed his rating on the shares to "buy" from "neutral", reports Bloomberg. "Management is unwilling to sell out at a deeply distressed value," Bove wrote in a note to clients after the FT reported that Lehman failed to sell a 50% stake to Korea Development Bank and China's Citic Securities. "The stage is set for a hostile bid to take over the whole company". The potential buyers walked away after deciding Lehman demanded too high a price, the FT said. Lehman fell 2.9% to $13.33 in NY afternoon trading, after earlier falling as much 8.7%.
(My emphasis)

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 12:24:07 PM EST
[ Parent ]
Why pay the official price when you can wait for the fire sale?

It's not as if anyone needs Lehman. There could still be some meat on the carcass, but guessing how much is going to be interesting.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Aug 22nd, 2008 at 12:46:20 PM EST
[ Parent ]
Or do a Bear Stearns coup on Lehman....
by ChrisCook (cojockathotmaildotcom) on Fri Aug 22nd, 2008 at 12:55:08 PM EST
[ Parent ]
Apparently the market believes all of Lehman's worth is in its Neuberger Berman asset management subsidiary, which doesn't sound like a core asset and the management has been rumoured to be trying to sell with a buyback option attached.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 12:58:52 PM EST
[ Parent ]
The trigger was Buffett's comments that "some" banks stocks seemed undervalued now (and were thus buying opportunities.

Also, Bernanke did not quite say that inflation was not a worry, he just ruled out increasing interest rates to fight it. Confusingly, this propped the dollar (you never know these days if markets are going to react to news, to the Fed reaction to news, or to the market's reaction to the Fed reaction...)

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (jeromeguillet@yahoo.fr) on Fri Aug 22nd, 2008 at 12:57:35 PM EST
[ Parent ]
He also said Fannie and Freddie have no net worth left.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Aug 22nd, 2008 at 01:00:07 PM EST
[ Parent ]
Alright, so maybe my Kaine pick wasn't garbage.  Right now, I have to agree with the CW in the press that it's a coin toss between Biden and Kaine.  Either one's fine with me.

However, having a look at Obama's upcoming schedule, it seems to have a very rural, small-town, almost populist feel, ending in Montana on the day the veep is announced.  Could it be Governor Brian Schweitzer of Montana?

It'd certainly be an interesting, outside-the-box pick.  And it'd make some sense.  Like Obama, very good organizer.  A lot of emphasis on building the party, which, as Ezra Klein noted in one of his recent articles, seems to be an area in which Obama has been spectacular.  Schweitzer really has done a ton to turn Montana into a "New-New Democrat" stronghold.  I'm assuming that, like Jon Tester, Schweitzer is very much of the western, "Libertarian Democrat" (to use the Great Orange Satan's silly label) persuasion on social issues and populist-ish on economics.

I have little knowledge of him beyond that.  Schweitzer did Bill Maher's show last year, and I came away with a positive impression of him.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 01:28:33 PM EST
So long as it's a boring non-entity we've never heard of before and never have to hear from again, it won't matter. Or to put it another way; anyone but Hilary.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 01:39:51 PM EST
[ Parent ]
Yeah, but I'd at least like a somewhat exciting pick.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 01:52:30 PM EST
[ Parent ]
Ooooh nay, nay and thrice nay. Exciting means downside. We don't wants exciting, we wants boring as heck. We wants non-entity so retiring they're invisible

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 02:06:23 PM EST
[ Parent ]
There will be exciting - I think there's zero chance of a pale and retiring non-entity.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Aug 22nd, 2008 at 02:54:42 PM EST
[ Parent ]
Ya think?  I wouldn't count out Biden, and he's certainly those things.  I tend to agree that it'll be a fresh face, which points to a Kaine, Sebelius or Schweitzer kind of figure.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 02:57:30 PM EST
[ Parent ]
Uhg.  I've never been so on the edge of my seat about some decision I already know is going to upset me.  Can he like, just announce so everyone can get on with their lives?  

"This is nothing compared to how Putin rigged Eurovision."
by poemless on Fri Aug 22nd, 2008 at 01:56:49 PM EST
[ Parent ]
What ? And distract from all the "how many houses does McCain have ?" fun. Ooooh no, if he can milk this one all next week you'll not hear a peep about a VP during the convention.

Has anyone else noticed that when Obama is really enjoying telling the joke, he sounds a bit like Richard Pryor ?

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 02:02:59 PM EST
[ Parent ]
Yes, a little like Pryor.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 02:58:45 PM EST
[ Parent ]
And now the Florida Dems are slamming McCain for houses and Cindy for her comment that a private jet was the only way to get around in AZ.

This is weird.  Suddenly the Dems all over America have their fire back.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 03:06:15 PM EST
[ Parent ]
BBC NEWS | World | Americas | Obama sings 'Happy Birthday'
Democratic presidential candidate Barack Obama sings 'Happy Birthday' to CBS anchor Harry Smith, before an interview.
by Metatone (metatone [a|t] gmail (dot) com) on Fri Aug 22nd, 2008 at 03:29:52 PM EST
[ Parent ]
I just told my boss about my trip. Summary:

millman: I'm flying to New Zealand on Nov. 3, and I won't be back for a year.

boss: [sarcastic grin] that's awesome. I suppose I'm not going to talk you out of it, am I.

millman: heh, no.

boss: can't say I blame you. Sounds like fun. Give us a call when you get back.

millman: will do.

That went as well as it possibly could have. Of course [anti-American] he moved here from Italy in his early 20's, so he understands work/life balance...

you are the media you consume.

by MillMan (millguy at gmail) on Fri Aug 22nd, 2008 at 02:01:19 PM EST
Congrats, Millman!  Savour the moment and I hope boss is decent enough to keep you until November.

Our knowledge has surpassed our wisdom. --Charu Saxena.
by metavision on Fri Aug 22nd, 2008 at 03:45:05 PM EST
[ Parent ]
Oh yeah, I'll be employed until I leave. Even if he were an evil corporate drone it wouldn't be in his interests to boot me now. And it looks like the job is mine when I come back if I want it which is an awesome safety net.

you are the media you consume.

by MillMan (millguy at gmail) on Fri Aug 22nd, 2008 at 03:49:18 PM EST
[ Parent ]
What, no telecommuting?
by asdf on Fri Aug 22nd, 2008 at 11:36:59 PM EST
[ Parent ]
No, not really feasible at this job. I need to spend time on one of these things most days.

you are the media you consume.

by MillMan (millguy at gmail) on Sun Aug 24th, 2008 at 12:13:17 AM EST
[ Parent ]
Poor Misha!  He can't sew!

WSJ: What Does Parole Denial Say About Russia's Push to Clean Up Courts?

Judge Igor Falileyev, holding court in the Siberian city of Chita, rejected Khodorkovsky's request for an early release from an eight-year sentence for tax evasion and fraud, according to an AP report. The judge said he was ineligible for parole because he had refused to undertake professional training at his prison, which specializes in sewing, and because of an incident in which he flouted prison rules.

Khodorkovsky's lawyer, Vadim Klyuvgant, said the decision was handed down "by a court that is not free and is heavily influenced by those who are simply scared of freeing Mikhail Khodorkovsky." He called the decision politically motivated and said he would appeal. Khodorkovsky (pictured) is eligible to file another parole request in six months.

"The judicial system won't be reformed any time soon," said Khodorkovsky, once Russia's richest person, as he was hustled out of the court by guards.




"This is nothing compared to how Putin rigged Eurovision."
by poemless on Fri Aug 22nd, 2008 at 02:08:26 PM EST
Rocket with NASA experiments explodes off Wallops Island

A suborbital rocket carrying two experiments conducted by NASA was destroyed Friday morning by range safety officials shortly after launch on Wallops Island.

NASA officials said in a Friday news conference that the rocket had strayed outside of set boundaries and the decision was made to destroy it.

The rocket launched at 5:10 a.m. NASA said no property damage or injuries have occured, but there were conflicting reports as to whether debris had been sighted on land. NASA said it believes that most of the debris landed in the Atlantic Ocean.

NASA said the debris potentially could be hazardous. People who spot debris are being asked to call Wallops Emergency Operations Center at 757-824-1300.




"This is nothing compared to how Putin rigged Eurovision."
by poemless on Fri Aug 22nd, 2008 at 02:35:13 PM EST
I first thought this was related to salad leaves.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 03:43:55 PM EST
[ Parent ]
Do you like Wallops salad too?

(Wonder what Americans call that?)

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Aug 22nd, 2008 at 04:41:53 PM EST
[ Parent ]
Pagan uprising.

Omg, they've just cut down all the trees outside our offices!  Everyone's freaking out.  People have posted protest messages in the windows, One says, "How can you live with yourselves?"  One guy is saying "Killers!  Scum!"  

Poor trees.  It's kinda funny, though.  

"This is nothing compared to how Putin rigged Eurovision."

by poemless on Fri Aug 22nd, 2008 at 03:28:00 PM EST
On which side of the building were the trees located?  I thought Chicago had a big push to "green" the city so as to minimize the heat island effect.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 04:18:39 PM EST
[ Parent ]
They're being replaced by a gigantic crystal dome...

"This is nothing compared to how Putin rigged Eurovision."
by poemless on Fri Aug 22nd, 2008 at 04:36:55 PM EST
[ Parent ]
GRRR!  I helped pay my way through grad school as an assistant social science librarian.  I absolutely loved rummaging through the stacks.  I would spot things I would never have found through the catalog.

And naturally, the damned architects are going on about how it LOOKS!  We would be better off with buildings designed by the users in conjunction with contractors.

If sanity be culturally normative, then by the norms of this culture I claim insanity.

by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 05:09:27 PM EST
[ Parent ]
It was.  This is not meant to be a browsing library.  We already have maybe 4 of those.  Most universities these days have off-site storage.  This is on-site storage with preservation facilities and a reading room.  Not the main library.  It won't house many monographs either.

"This is nothing compared to how Putin rigged Eurovision."
by poemless on Fri Aug 22nd, 2008 at 05:44:15 PM EST
[ Parent ]
Thanks for the context.  So often automated retrieval systems are instead of stacks.  Unless you have access to the stacks, it really doesn't matter.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Fri Aug 22nd, 2008 at 06:12:06 PM EST
[ Parent ]

Wow.  That's really mind-numbingly boring.

Och nu den svenska kocken bakar en Alaskan älg jägare. Bonk! Bonk! Bonk!

by ATinNM on Sat Aug 23rd, 2008 at 01:22:09 AM EST
[ Parent ]
Looks like a bad mashup of the Louvre pyramids and the FU's philological library.
by nanne (zwaerdenmaecker@gmail.com) on Sat Aug 23rd, 2008 at 07:32:31 AM EST
[ Parent ]
Now McCain doesn't even remember what kind of car he drives.  His aide had to fill him in.

TBG, I'm leaving the commentary to you on this one.  I'm speechless.

Where's your motherf*%&ing flag pin?

by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 04:35:37 PM EST
Yea, but the press still think he's a regular guy. This will be forgotten in a couple of weeks. Come November, he'll still be the foreign policy C-in-C who makes everyone safe by threatening to bomb everyone else. the corporate whores'll make sure of that.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Aug 22nd, 2008 at 05:19:19 PM EST
[ Parent ]
Perhaps, but fuck'em.  We're going straight to the people with it.

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 06:26:37 PM EST
[ Parent ]


In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (jeromeguillet@yahoo.fr) on Fri Aug 22nd, 2008 at 05:45:20 PM EST
'Dis mah howz biaaaatch!

Where's your motherf*%&ing flag pin?
by Drew J Jones (blahblahblah@blahblahblah.com) on Fri Aug 22nd, 2008 at 06:22:16 PM EST
[ Parent ]

Xcel ditching 2 coal plants, going to solar

PUC approves plan to help meet 2020 goal

State regulators gave the go-ahead to Xcel Energy's plans for a green makeover: shutting down two coal-fired power plants in the state and building one of the world's largest utility-scale solar power plants.

After days of deliberations, the Colorado Public Utilities Commission approved Xcel's voluntary decision to shutter electricity generating stations in Denver and Grand Junction - making it the first utility in the nation to do so in order to reduce pollution emissions.

The commission also approved the utility's request for a 200-megawatt solar plant using concentrated solar technology that not only helps generate electricity from the sun, but also allows energy to be stored for later use.

The commission approved, too, Xcel's request to add 850 megawatts of wind energy to its system.



In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (jeromeguillet@yahoo.fr) on Fri Aug 22nd, 2008 at 05:47:56 PM EST
Wind turbine plant in Pueblo will be largest in the world

The world's largest supplier of wind turbines plans to build a $240 million production plant in Pueblo. It will create hundreds of new jobs for the city. And the Vestas Company, based in Denmark, says the completed plant will be the largest of its kind in the world.

The factory will be built south of Pueblo and east of I-25, between the Comanche power plant and the cement plant. It will be the company's first tower factory in the United States; it has three others in Europe.

http://www.koaa.com/aaaa_top_stories/x1958146660/Wind-turbine-plant-in-Pueblo-will-be-largest-in-the -world

by asdf on Fri Aug 22nd, 2008 at 11:44:35 PM EST
[ Parent ]
(About 50 miles south of Colorado Springs.)
by asdf on Fri Aug 22nd, 2008 at 11:45:35 PM EST
[ Parent ]


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