European Salon de News, Discussion et Klatsch - 14 July

by Fran
Mon Jul 13th, 2009 at 02:23:03 PM EST

 A Daily Review Of International Online Media 


Europeans on this date in history:

1921 – Birth of Leon Garfield, a British writer of fiction. He is best known for his historical novels for children, though he also wrote for adults. He wrote more than thirty books, and scripted Shakespeare: The Animated Tales for television. (d. 1996)

More here and here

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by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:00:35 PM EST
EU, Turkey set to sign Nabucco pipeline deal | Europe | Deutsche Welle | 13.07.2009
Despite the fact that the project lacks key suppliers, the EU and Turkey are preparing to sign an intergovernmental agreement on Europe's flagship Nabucco gas pipeline on Monday. 

The 3,300-kilometer (2,000-mile) pipeline is expected to pump as much as 31 billion cubic meters from the Caspian Sea to Austria via Turkey and the Balkans, bypassing Russia, in what is seen as a bid by the EU to wean itself off its dependency on Moscow's supplies.

Europe has suffered from almost annual spats between Russia and its transit countries, specifically Ukraine, which have left some EU countries with drastically reduced oil and gas supplies, sometimes in the depths of winter.

The Nabucco line is expected to be the first move away from the Russian supply line and is seen as a rival to Russia's South Stream project. That project has been developed by Russian gas giant Gazprom and Italy's Eni, which will channel Russian gas through Bulgaria to Western Europe under the Black Sea.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:05:44 PM EST
[ Parent ]
EUobserver / EU-backed Nabucco to receive legal certainty

EUOBSERVER / BRUSSELS - The Nabucco project, designed to cut the dependence of energy-hungry Europe on Russian gas, will reach an important milestone later today (13 July) as EU governments and Turkey are set to sign a key transit pact.

"The signature will show that we are determined to make the Nabucco pipeline a reality as quickly as possible," European Commission chief Jose Manuel Barroso said ahead of the signing ceremony, which would effectively end six months of intense negotiations on the use of the pipeline.

Nabucco could supply up to 5-10% of the EU's gas demand, the European Commission says

The 3,300-kilometer pipeline is expected to run between the Caspian Sea region and Austria, crossing Turkey, Bulgaria, Romania and Hungary.

Ankara, for its part, wanted to take 15 percent of the gas flowing through Nabucco at a discounted price for internal consumption or even for re-exportation, but was not granted this.

The Nabucco's entire capacity amounts to 31 billion cubic metres of natural gas per year.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:06:43 PM EST
[ Parent ]
Fran:
designed to cut the dependence of energy-hungry Europe on Russian gas,

So many assumptions encapsulated in those few words.

Europe is here defined as "energy-hungry". Try writing "energy-thrifty Europe" instead. What happens to the Nabucco "design"?

Next, it's said that Europe is dependent on gas. How about reducing the proportion of gas in the energy mix? That means investing in renewables and smart networks, not in gas pipelines. What then happens to the Nabucco "design"?

And "Russian"? If Europe has to worry about specific dependence on Russia for gas supplies, the first two points apply. Use less energy, use less gas in the energy mix. And thirdly, don't invest in pipelines from unstable areas that are unlikely ever to supply the full volume... without a helping hand from Russia.

Some "design".

When locusts move on, they leave nothing behind

by afew (afew(a in a circle)eurotrib_dot_com) on Tue Jul 14th, 2009 at 03:33:51 AM EST
[ Parent ]
I felt pretty happy when I heard this on the radio and could deconstruct it completely without even trying.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Tue Jul 14th, 2009 at 03:47:49 AM EST
[ Parent ]
EUobserver / European Parliament gets on its feet

EUOBSERVER / BRUSSELS - A new generation of MEPs will be trying to find their way around the famously labyrinth-like European Parliament building in Strasbourg this week as the constitutive session of the assembly gets under way.

Almost half (49.8%) of the 736 deputies have been elected for the first time while women will represent just over a third of the assembly, which is also host to eight former prime ministers and boasts two octogenarians.

The main buzz in the corridors will be one of deal-making as deputies divide up committee membership, firm up political alliances and formalise the political groups in parliament.

There are 160 national groups represented within the parliament the vast majority of which are housed in the seven political groups ranging from the centre-right European People Party (265 MEPs) to the smallest, the newly-formed eurosceptic and right wing Europe of Freedom and Democracy (EFD) with 30 members.

Just 28 MEPs are not non-attached, including the deputies from Britain's far-right BNP and the France's National Front.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:06:15 PM EST
[ Parent ]
France 24 | Newly elected assembly to meet in plenary session | France 24
736 freshly elected members of the European Parliament will hold their first plenary session on Tuesday in Strasbourg. The assembly is expected to test its new political muscles by postponing the endorsement of the EU commission head.

AFP - The freshly-elected European parliament meets Tuesday for its first plenary session, keen to test the new political muscle it will develop once the EU's new reform package enters force.

In a short session, starting in earnest in Strasbourg, the 736-member assembly will elect its president, but not the head of the EU's executive arm, the European Commission.

Despite pressure to vote this week on the return of Jose Manuel Barroso for a second five-year term as president of the commission, the lawmakers have taken a stand and postponed any endorsement until the autumn.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:10:37 PM EST
[ Parent ]
A year on, Mediterranean Union has made little progress | Europe | Deutsche Welle | 13.07.2009
The Union for the Mediterranean, launched a year ago, was meant to revive cooperation between the EU and countries bordering on the Mediterranean. But little progress has been made on pressing issues in the region. 

For almost 14 years now, the member states of the European Union have been working with 16 partners across the Southern Mediterranean and the Middle East on regional projects. This network used to be known as the Barcelona Process, but in 2008, it was re-launched as the Union for the Mediterranean, or Euromed, by the ever-industrious French President, Nicolas Sarkozy at the time of his European presidency.

Euromed is the only EU body in which both Israel and Arab states are represented, and if Sarkozy had prevailed, it would have only counted countries with a Mediterranean coastline among its members.

But German Chancellor Angela Merkel protested against this exclusive "Club Med" and eventually, she got her way. Sarkozy opened his Mediterranean Union to all 27 EU member states. At a short summit in Paris on July 13, 2008, 43 members officially joined Euromed.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:08:18 PM EST
[ Parent ]
Sarkozy's Club Med on the rocks - El País/Presseurop

Launched on 13 July 2008 in Paris, the Union for the Mediterranean (UfM) is basically a remodelling of the Barcelona Process that Spain helped get off the ground back in 1995. There was really no need to go to all that trouble, but Nicolas Sarkozy originally had something very different in mind when he initiated this second phase.

In February 2007, on the stump in Toulon, the then presidential candidate proposed setting up a union made up solely of countries on the Mediterranean coast to supersede the Barcelona Process, which had not made much headway in 12 years' time. Sarkozy's objectives were threefold: the immediate goal was to woo French voters of North African or Middle Eastern descent by announcing large-scale development projects on the southern coast of the Mediterranean. A more long-term goal was to re-establish French hegemony in the region. And the third, more surreptitious object, was to provide a way out for Turkey, seeing as France remained adamantly opposed to its full integration into the EU.

From the outset, the project had to reckon with staunch opposition from Italy and Spain, and, even after a thoroughgoing overhaul, it was only saved by the intervention of Germany, which, though obviously not a Mediterranean country, is nonetheless heavily involved in the region by dint of its economic interests. So the UfM morphed into an EU 27 institution that was to press ahead with the Barcelona Process, which, in the words of Angela Merkel, "just needed to be revitalized". And when Spain succeeded in getting the permanent secretariat domiciled in Barcelona, it no longer raised any objections to the re-establishment of the UfM.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:19:20 PM EST
[ Parent ]
Typical Sarkozy SOP: grand discourse, ambitious ideas, punchy tag lines, "can-do" attitude...

Then, one year later, where's the beef?

If actions speak louder than words, well, our president is much quieter than you would believe...

Europeans think a hundred miles is a long way. Americans think a hundred years is a long time.

by Bernard on Tue Jul 14th, 2009 at 07:48:46 AM EST
[ Parent ]
Controversy over Off-The-Cuff Forecast: Obama Predicts Merkel Victory in Coming Election - SPIEGEL ONLINE - News - International

In an off-the-cuff remark caught on camera, US President Barack Obama told German Chancellor Angela Merkel she was bound to win the September election. The forecast has annoyed Germany's Social Democrats.

It's not easy for a German camera crew working at the White House to get a good spot for their camera. In terms of priority rankings, the German media are about as important as the Albanians. Which is why Heike Slansky, a correspondent for German public service channel ZDF had to be particularly persistent in her efforts for footage when Chancellor Angela Merkel came to visit President Barack Obama in America at the end of June.

 All smiles: Barack Obama is apparently confident that Angela Merkel will win re-election in September. "At first we were only allowed to film the Chancellor's arrival," the German journalist recalled. However shortly before the meeting, her television crew learned that they would also be able to film Obama and Merkel making their way from the Oval office to a press conference in the East Room of the White House. And as the leaders strode down the corridor, their respective press secretaries -- Robert Gibbs and Ulrich Wilhelm -- in tow, something happened that Slansky still doesn't quite understand.

'You've Already Won'

Just as Obama and Merkel were walking past the camera, the German chancellor said: "We have to prepare our election campaign." Obama smiled, waved his left hand somewhat nonchalantly and said, "Ah, you've already won. I don't know what you always worry about."

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:09:23 PM EST
[ Parent ]
France 24 | Minister wants to appeal 'short' Barbarians sentences | France 24
The French justice minister asked a prosecutor to appeal for longer prison terms against "gang of barbarians" members jailed last week for a gruesome anti-Semitic murder. The victim's sister said on FRANCE 24 that she was satisfied with the appeal.

France's justice minister asked a prosecutor on Monday to appeal for increased jail terms against members of a gang imprisoned last week for kidnapping a young Jewish man, torturing him and leaving him to die.

"We feel reassured that the minister heard us and reacted so quickly," said the victim's sister, Yael Halimi, during an interview with FRANCE 24.

Referring to the gang members who lured Halimi into a trap and who held him hostage, she said: "The sentences handed over to the jailers and the bait were not in line with Ilan's ordeal."

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:11:04 PM EST
[ Parent ]
One of the issues with the relatively lenient sentences for the accomplices was that many people in the neighborhood "knew" about I.Halimi being detained in a cellar somewhere in a building underground, yet they didn't speak for fear of reprisals.

The concern expressed was that clemency would convey the message that, at the end of the day, the French state justice is much more clement than the "neighborhood justice" and one would be better off keeping silent and submitting to the gang leaders rule...

The other concern is that there were a lot of very public and very loud calls for the Ministry of Justice to file an appeal. An emotionally charged atmosphere that is decidedly not conducive to the serenity needed for an appropriate carriage of justice.

Europeans think a hundred miles is a long way. Americans think a hundred years is a long time.

by Bernard on Tue Jul 14th, 2009 at 07:58:18 AM EST
[ Parent ]
EUobserver / German debate on EU decision-making powers heats up

EUOBSERVER / BRUSSELS - Germany's debate on how much national say there should be over further EU integration is intensifying two weeks after the country's constitutional court handed down a significant judgement on the EU's Lisbon Treaty.

The judgement was initially greeted with relief by the pro-integration camp as it did not say the EU treaty was incompatible with the German constitution.

How much say should Germany's parliament have over EU decisions'

But the 147-page ruling, now scoured by legal and constitutional experts, is causing strong discussion in political circles, just weeks before a new draft law incorporating the court's points is to be published.

Only after this law has been approved by parliament, may final ratification of the Lisbon Treaty - the signature by the German president - be completed.

The 30 June judgement said that parliament should have final say when the EU seeks to extend competences beyond what is foreseen in the Lisbon treaty.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:12:09 PM EST
[ Parent ]
The World From Berlin: German Pension Guarantee Is 'Bad Law' - SPIEGEL ONLINE - News - International

German Finance Minister Peer Steinbrück was right to criticize a recent law guaranteeing pension levels in the long term, media commentators write. The government passed the law because it wanted to pander to 20 million elderly voters ahead of the September general election.

German Finance Minister Peer Steinbrück, never one to mince his words, has angered his own party, the Social Democrats (SPD), by criticizing recent legislation guaranteeing that pensions won't be cut. Now his party comrades are urging him to take a long vacation to avoid damaging the party's already slender chances of winning the Sept. 27 general election.

 Straight talker: German Finance Minister Peer Steinbrück. The law, passed by the Bundestag lower house of parliament in June, was devised by SPD Labor Minister Olaf Scholz, and enshrines a long-term guarantee that pensions won't be cut, regardless of how badly the economy develops.

"I have big doubts whether that's the right signal for following generations," straight-talking Steinbrück, who recently accused Britain of obstructing regulatory reforms of financial markets, told the Frankfurter Rundschau newspaper. He said today's pensioners were better off than ever before and that pensions were rising faster than they had been for years while people in work were afraid of losing their jobs in the economic crisis.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:12:49 PM EST
[ Parent ]
Battle brewing over single-sex classes for Muslim women | Radio Netherlands Worldwide

Utrecht city councillor Marka Spit says she is going to ignore Dutch Integration Minister Eberhard van der Laan's plan to abolish segregated integration courses as of January 2009. Various Dutch media report that the two politicians, both members of the Labour Party (PvdA), disagree on whether segregated integration classes benefit or undermine the emancipation of Muslim women in the Netherlands.

Dutch law requires nearly all newcomers to the country, other than European immigrants, to take a combined Dutch language and integration course, either inside or outside the Netherlands. The requirement, however, also applies to immigrants who have already been living in the country for some time.

The idea behind offering separate courses for men and women is to attract Muslim women who would otherwise not - be allowed to - attend because of their faith. Marka Spit says women should, at the very least, be offered the option of following the course in a single-sex setting.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:13:44 PM EST
[ Parent ]
Radio Netherlands Worldwide
Dutch law requires nearly all newcomers to the country, other than European immigrants, to take a combined Dutch language and integration course

Muslim women who would otherwise not - be allowed to - attend

A "legal requirement"; "not be allowed"; something doesn't compute here.

Europeans think a hundred miles is a long way. Americans think a hundred years is a long time.
by Bernard on Tue Jul 14th, 2009 at 07:44:23 AM EST
[ Parent ]
Apparently Dutch law recognizes the authority over these women claimed by their church and their husbands.
by paving on Tue Jul 14th, 2009 at 02:29:19 PM EST
[ Parent ]
The best of today's press | Presseurop
After a first reading, the Lithuanian parliament has passed amendments to the penal code criminalising the promotion of same-sex relationships. "If the amendments get through the two remaining readings, homosexuals will face penalties ranging from forced labour through to fines and detention," reports Polish daily Dziennik. Penalties for "gay agitation" would apply to both individuals and organisations. The opposition conservative and eurosceptic party Order and Justice (TiT) is agitating for a minimum fine set at €325, the maximum €1,750. A couple of months ago the Lithuanian right sought to push through parliament a bill that equated homosexuality with zoophilia and necrophilia, providing not only fines but also prison sentences for speaking favourably about gay tendencies.
by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:14:10 PM EST
[ Parent ]
It's disgusting, but somewhat typical of ex-soviet bloc countries. There must be some relationship between highly militarised nationalist states which feature considerable lionising of the male physique and a consequent terror of gayness

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:22:29 PM EST
[ Parent ]
I thinks it's something to do with 1) the Church and 2) not being part of the whole collective psyche thing that experienced Stonewall, etc.

Considerable lionising of the male physique?  What's more gay than that?  

"Pretending that you already know the answer when you don't is not actually very helpful." ~Migeru.

by poemless on Mon Jul 13th, 2009 at 05:52:09 PM EST
[ Parent ]
I suspect that for many former Soviet states the dissolution of the Soviet Union presented an opportunity for large segments of the population to revert to pre-Soviet social and religious norms, and that these norms turned out to have been frozen by suppression since the outbreak of WW II.  So, for many in these countries, on social issues, it is as though the last three quarters of a century never happened.  Free at last--to be the homophobic, misogynist folk they had always wanted to be.  

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 08:24:57 PM EST
[ Parent ]
Not all of them... remember Sparta?

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Tue Jul 14th, 2009 at 03:50:33 AM EST
[ Parent ]
Israel doesn't seem to have any problem with gays in the military. Maybe you should refine it to "highly militarised nationalist states which don't really need the military", so that they can afford to kick gays out. Any figures for whether gays were more tolerated in the U.S. military when they had conscription? I remember (from the early 80s) fellow students describing  the tricks people used in the U.S. to try to convince the army that they were gay...
by gk (g k quattro due due sette "at" gmail.com) on Tue Jul 14th, 2009 at 05:36:32 AM EST
[ Parent ]
Even as I wrote that the exceptions were tumbling out. Shoulda put my [Helen's weak generalisation alert] on it.

But nevertheless, the Soviet era nationalist artwork did venerate a certain uber masculinity where that message could be seriously adopted, subverted and undermined by any acceptance of gayness.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Tue Jul 14th, 2009 at 09:21:01 AM EST
[ Parent ]
President Sarkozy's move to `abolish Sunday' sparks hostility - Times Online

Street markets, long family lunches, strolls in the park . . . For the French, Sunday is a great tradition, a time to enjoy the finer things in life while other silly countries such as Britain keep working. So President Sarkozy's plan to "abolish Sunday" and let the shops open is running into a hail of criticism.

Parliament is due to pass a Bill tomorrow to ease France's strict trading laws, but hostility to it is so widespread that some MPs in Mr Sarkozy's own centre-right camp predict that it could unravel before becoming law.

The President's plan to abolir le dimanche is being resisted by an unlikely coalition of interests, including the centre and left-wing Opposition, the Roman Catholic Church, the trade unions and small shopkeepers who fear losing their existing Sunday business to supermarkets. Up to 60 per cent of the public, according to polls, are also against a scheme that will reverse the century-old right to a day of rest.

[Murdoch Alert]
by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:15:05 PM EST
[ Parent ]
Note that Sarkozy tries to push this through on 14 Juillet
by paving on Tue Jul 14th, 2009 at 02:32:12 PM EST
[ Parent ]
This is one of the things about the Continent which have always just made me shake my head in wonder. Stores do not exist for the employees but for the customers. There are surely people who want to work extra on Sundays, just as there are people who want to shop then. There is absolutely no reason to legislate problems into their lifes.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Thu Jul 16th, 2009 at 09:33:10 AM EST
[ Parent ]
If everyone works the exact same hours on the exact same days, when do they get the time to visit each other's businesses as customers?

The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
by Migeru (migeru at eurotrib dot com) on Thu Jul 16th, 2009 at 09:36:18 AM EST
[ Parent ]
Currently, stores exist for the owners. They are the ones having authority in them.

And defining who "wants" to work on a sunday is pretty hard. Not accepting that usually means being shown the door.

Un roi sans divertissement est un homme plein de misères

by linca (antonin POINT lucas AROBASE gmail.com) on Thu Jul 16th, 2009 at 09:37:09 AM EST
[ Parent ]
Swine flu 'five times more virulent' | The Independent | 13.7.09
The first full analysis of the H1N1 virus, published in Nature, shows it causes more lung damage in animals than seasonal flu. For two strains of virus tested, five times less was needed to cause the same damage as seasonal flu. Damage to the lungs increases the risk of pneumonia which is the commonest cause of complications, severe illness and death in flu epidemics.
Is this really what is usually meant by "five times more virulent"?
by gk (g k quattro due due sette "at" gmail.com) on Mon Jul 13th, 2009 at 05:13:01 PM EST
[ Parent ]
ferrets: Were these ferrets morbidly obese or not?

I want to purchase this article:
Katharine Sanderson,"Swine flu reaches into the lungs and gut", Nature News (2 July 2009)

Price: US$8

In order to purchase this article you must be a registered user.



Diversity is the key to economic and political evolution.
by MarketTrustee on Mon Jul 13th, 2009 at 05:29:11 PM EST
[ Parent ]
and monkeys and mice as insufficient human tissue is available for autopsy or culture since April. How odd: "Tests showed swine flu multiplies in greater numbers across the respiratory system [a hint of systemic circulatory dysfunction?], and causes more damage. And instead of staying in the head like seasonal flu, it penetrates deeper into the respiratory tissues [lungs?] - making it more likely to cause pneumonia." Isn't that something. I'd no idea that seasonal flu afflicted only one's "head".

more revelations...

'Treatment Phase,' Course for 30M Brits | BBC | 2 July 2009

"Cases are doubling every week and on this trend we could see over 100,000 cases per day by the end of August." ...


Diversity is the key to economic and political evolution.
by MarketTrustee on Mon Jul 13th, 2009 at 06:41:13 PM EST
[ Parent ]
Can we declare an official WHO Health Hysteria Alert™ yet?

The numbers are clear. Out of tens of thousands of infections in the UK, people are dying in their tens. Barely.

I suppose it's lucky we're descended from apes and not from obese ferrets, or we'd really be in trouble.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 13th, 2009 at 07:37:00 PM EST
[ Parent ]
...we're descended from apes and not from obese ferrets...

Are you certain about this?

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 08:28:41 PM EST
[ Parent ]
Jury's still out.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 13th, 2009 at 08:32:58 PM EST
[ Parent ]
Perhaps both?

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Tue Jul 14th, 2009 at 10:58:31 AM EST
[ Parent ]
Can we declare an official WHO Health Hysteria AlertTM yet?

No.

First, female employees must be sequestered;

Male model must be hired International Presenter™,

equipped with revised WHO script to acknowledge supreme leaders strep and CAP;

one 3m2 blackline anatomical drawing titled PNEUMONIA that illustrates

THERE IS NO DOOR BETWEEN NASAL CAVITY, MOUTH, AND LUNGS

and

WHERE LIVE MICRO-ORGANISMS DISPLACE AIR,

immune response also destroys "respiratory tissues";

and one 3m2 blackline technical drawing titled INTUBATION that illustrates

modern medicine,

THE ONGOING FAILURE TO INVENT RELIABLE CLINICAL TREATMENT OF ACUTE PNEUMONIAS,

increases probability of death

and professional panic.

Diversity is the key to economic and political evolution.

by MarketTrustee on Tue Jul 14th, 2009 at 01:02:49 AM EST
[ Parent ]
neato...

Michael M. Patterson, PhD, "The Coming Influenza Pandemic: Lessons From the Past for the Future", JOMA. 2005

....In 1918, C.P. McConnell, DO,11 reported that the most effective treatment during the influenza pandemic was begun early in the onset of symptoms (within the first 24 hours) and consisted of carefully applied muscular relaxation and, most importantly, relaxation of the deep and extensive contractions of the deep spinal musculature and mobilization of the spine. These treatments would be repeated two or three times early in the course of the infection, along with traditional supportive measures such as hydration. During later influenza epidemics, such as the 1928-1929 and the 1936-1937 outbreaks, various lymphatic pump treatments and more attention to the cervical and upper thoracic regions were added to this recommended treatment protocol.12 These treatments, individualized to each patient's needs, were apparently the most commonly applied osteopathic medical procedures during the epidemics.

It seems possible that the mechanisms of action of these treatments were to diminish somatic inputs from contracted muscles that had further stimulated the already overactive sympathetic system. This hyperreactivity exacerbated the counterproductive and deadly immune response. During the later phases of infection, osteopathic manipulative treatment (OMT) likely enhanced lymphatic drainage and encouraged appropriate immune response.

While we have no controlled data on the effects of OMT on the pandemic influenza, several studies have shown the effects of OMT on somewhat related diseases. For example, Noll et al13 demonstrated that OMT given to elderly patients with pneumonia decreases medication use and hospital stay. More recently, Knott et al14 showed in a canine model that lymphatic treatment greatly increases lymph flow in the thoracic duct....

ht energyecon ;)

Diversity is the key to economic and political evolution.

by MarketTrustee on Tue Jul 14th, 2009 at 02:34:15 AM EST
[ Parent ]
yea, DrMarketTrustee would get a kick out of that

Diversity is the key to economic and political evolution.
by MarketTrustee on Tue Jul 14th, 2009 at 02:37:47 AM EST
[ Parent ]
why, deep lower back massage works for him too?

great news about lymph drainage, this is one really powerfully helpful therapy, invented in Austria.

good catch, MT!

If'Madness is the absence of work'(Foucault), then Sanity is the presence of play..

by melo (melometa4(at)gmail.com) on Tue Jul 14th, 2009 at 05:17:02 AM EST
[ Parent ]
if he were stll alive, melo, if. in his day he was possessed by extraordinary knowledge of physiology, physical and emergency medicine as well as unorthodox applications thereof.

then again, i'm sure he'd have been in a permanent, CNN-induced apoplectic state since March.

Diversity is the key to economic and political evolution.

by MarketTrustee on Tue Jul 14th, 2009 at 08:05:58 AM EST
[ Parent ]
You're to interpret "virulent" here to mean to the virus's fast rate of reproduction, ergo volume and  destuctive capacity.

While waiting its dread mutation, look! CAP and Pneumonia severity index.

There are over a hundred microorganisms which can cause CAP. The most common types of microorganisms are different among different groups of people. Newborn infants, children, and adults are at risk for different spectrums of disease causing microorganisms. In addition, adults with chronic illnesses, who live in certain parts of the world, who reside in nursing homes, who have recently been treated with antibiotics, or who are alcoholics are at risk for unique infections. Even when aggressive measures are taken, a definite cause for pneumonia is only identified in half the cases....

Viruses cause 20% of CAP cases.



Diversity is the key to economic and political evolution.
by MarketTrustee on Tue Jul 14th, 2009 at 01:46:08 AM EST
[ Parent ]
btw, i share your concern and distrust of mass compulsory vaccination.

knowing rummy is a part-owner of tamilflu does wonders for the immune system, lol!

If'Madness is the absence of work'(Foucault), then Sanity is the presence of play..

by melo (melometa4(at)gmail.com) on Tue Jul 14th, 2009 at 05:22:28 AM EST
[ Parent ]
but wait. The venal quotient is bigger than he...or researchers scouring backmatter for correct dosages.

Lawsuit puts flu-vaccine contract in doubt | Nature | 30 June 2009

A US office tasked with readying the country for influenza pandemics received an unpleasant surprise last week, when creditors filed a lawsuit intended to force one of its new grantees into bankruptcy.

The lawsuit was filed the day before the Biomedical Advanced Research and Development Authority (BARDA) in Washington DC announced it had awarded a US$35-million contract to Protein Sciences, a biotechnology company in Meriden, Connecticut.



Diversity is the key to economic and political evolution.
by MarketTrustee on Tue Jul 14th, 2009 at 08:33:19 AM EST
[ Parent ]
That's what I don't get. I would have assumed, intuitively, that virulence referred to the damage it does to the patient. The rate of reproduction, or, in this case, the amount of the virus needed to cause a certain amount of damage, are presumably correlated to this. What I was questioning was the claim (presumably made by the journalist) that the same number (five) applies in all these cases.
by gk (g k quattro due due sette "at" gmail.com) on Tue Jul 14th, 2009 at 04:07:52 PM EST
[ Parent ]
UK Government has lost £10.9bn on stakes in RBS and Lloyds - Telegraph
UK Financial Investments (UKFI) said in its annual report that its loss on the two stakes - 70pc of RBS and 43pc of Lloyds Banking Group - had reached £10.9bn at the end of June.

The losses, which are not yet realised, have been wracked up since Gordon Brown was forced to inject billions into the troubled lenders in October.

The investment, which amounts to more than £3,000 that each UK household, will not be quickly disposed of. The recession is continuing to hit both banks hard.



"Ne te courbe que pour aimer..." René Char
by Melanchthon on Mon Jul 13th, 2009 at 05:14:00 PM EST
[ Parent ]
worse than that, they lost the opportunity to actually fix the problem to stop it happening again.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:24:45 PM EST
[ Parent ]
There was a problem?
by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Jul 14th, 2009 at 06:30:17 AM EST
[ Parent ]
Beppe Grillo's Blog
So having tried with the referendum, that was blocked in the Court of Cassation with the disappearance of a few thousand signatures, having tried with the popular initiative laws, at a standstill in Parliament Vizzini, the committee, you know everything, now he is trying, having tried with the Civic Lists, that anyway have given great results because they have infiltrated into many town and provincial assemblies at least one representative armed with a video camera and a vigilant eye, now he is trying out throwing a pebble into the pond of the Primaries. The interesting thing, still more interesting than Grillo's candidacy, is the reaction of the Democratic Party politburo, these indignant "parrucconi" {bewigged folk}. Shame. Grillo. Let's keep him out. A provocation. He has not got the credentials. He has attacked us and therefore he cannot come in. These moulds who are there encrusted to the night of Jurassic Park, do not realise these poor things, because by now you have to pity them, are bundles of bones, who the more they get angry, the more they make the game interesting . They do not realise that the more they get angry, and the more they show that they are afraid of Grillo, anyway as they are the holders of 26 and something per cent of the vote, it seems that they are losing a thousand votes a day, which means that they are really at the moment of the gas pipe. Why? Because there are two possibilities: either Grillo gets few votes at the Primaries and then they could say: see, it was a bluff, he's not liked by our voters, he made a mistake with the party and so why bother, - or otherwise Grillo gets loads of votes and then they would have to ask why, who is it that goes to the Primaries of the Democratic Party to vote for Beppe Grillo? Democratic Party voters who agree with what Grillo says. So perhaps rather than talking about Grillo, his language, his beard, his image, and facial characteristics, perhaps they would be better to ask why a part of the Democratic Party, even though Grillo has always been attacking the Democratic Party, perhaps they agree with what he is saying. Could it be that to hear talk of the environment, of the fight against nuclear and about zero refuse, you have to go to Grillo's blog? Is it that in order to hear talk of public water you have to go to Grillo's blog? That to hear about the Aldrovandi case, possibly before the verdict that convicted the police officers, you have to go to Grillo's blog or to participate in V-Day and to hear talk of the convicts in Parliament, you have to go to those places and to hear talk about so many other really important issues, thinking just of the whole topic of development, of the degrowth, of green cars, all topics that are at Obama's fingertips and that Grillo has been dealing with for years and that the Centre-Left is not dealing with, well then perhaps, if they want to defeat Grillo at the Primaries they should try and steal from him his job, they should start to talk about some of these things that are anything but "qualunquist" {populist} things or even comic. They are normal things for normal politics. But instead they get angry. They shriek. They prepare codicils to block his route. I believe that even if it only lasts a week, this candidacy has already given rise to its effects because it has already demonstrated which part of the Democratic Party is dead and buried and which part still has hope.


If'Madness is the absence of work'(Foucault), then Sanity is the presence of play..
by melo (melometa4(at)gmail.com) on Tue Jul 14th, 2009 at 05:39:06 AM EST
[ Parent ]
 ECONOMY & FINANCE 

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:01:03 PM EST
By Katty Kay and Claire Shipman -- Fixing the Economy Is Women's Work - washingtonpost.com

While the pinstripe crowd fixates on troubled assets, a stalled stimulus and mortgage remedies, it turns out that a more sure-fire financial fix is within our grasp -- and has been for years. New research says a healthy dose of estrogen may be the key not only to our fiscal recovery, but also to economic strength worldwide.

The sexy new discussion in policy circles around the world, thanks to the recession, is whether a significant shift of power from men to women is underway -- or whether it should be. Accounting giant Ernst & Young pulled out charts and graphs at a recent power lunch in Washington with female lawmakers to argue a provocative bottom line: Companies with more women in senior management roles make more money. The latest issue of Foreign Policy magazine sweepingly predicts the "death of macho." Economists at Davos this year speculated that the presence of more women on Wall Street might have averted the downturn. Adding to this debate is the fact that the laid-off victims of this recession are overwhelmingly men.

All those right-brain skills disparaged as soft in the roaring '90s are suddenly 21st-century-hot, while cocky is experiencing a slow fizzle.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:04:46 PM EST
[ Parent ]
grrrrrrrr ...

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:25:21 PM EST
[ Parent ]
Not exactly related, but when you compare share ownership between males and females, females always come out looking better. They own big solid blue chip companies while males often own tiny tech upstarts (which almost always fail).

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Tue Jul 14th, 2009 at 03:52:55 AM EST
[ Parent ]
Without reading the article, which I'm suspicious of because the byline is two women (bad editorial choice there!), I can say it's probably true but they've likely got the correlation/causation mixed up.

Companies that are creative, open-minded and innovative are more likely to have women in leadership roles because the only reason not to is a reliance on traditional habits.  

by paving on Tue Jul 14th, 2009 at 02:41:15 PM EST
[ Parent ]
Goldman Sachs May Report Strong Profit - NYTimes.com
Most of Wall Street, and America, is still waiting for an economic recovery. Then there is Goldman Sachs.

Up and down Wall Street, analysts and traders are buzzing that Goldman, which only recently paid back its government bailout money, will report blowout profits from trading on Tuesday.

Analysts predict the bank earned a profit of more than $2 billion in the March-June period, because of its trading prowess across world markets. If they are right, the bank's rivals will once again be left to wonder exactly how Goldman, long the envy of Wall Street, could have rebounded so drastically only months after the nation's financial industry was shaken to its foundations.

The obsessive speculation has already begun, along with banter about how Goldman's rapid return to minting money will be perceived by lawmakers and taxpayers who aided Goldman with a multibillion-dollar cushion last fall.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:05:05 PM EST
[ Parent ]
More Families Are Becoming Homeless, Study Finds - washingtonpost.com
Louis Gill doesn't like to turn anyone away. The director of the Bakersfield Homeless Center in California has taken to laying out cots and mattresses between the shelter's 174 registered beds to cope with the rush of homeless families brought to his doors by the financial crisis.

"Last year, we saw a 34 percent increase in homeless families and a 24 percent increase in homeless children," he said. "Why do we go beyond capacity? Because in a just society, a child should not have to sleep outside or in a car."

Gill is a frontline witness to the change in the makeup of the country's homeless. The stereotype of a homeless person as a single man no longer applies. A resident of the Bakersfield center is far more likely to be a young mother with a "good, solid job and a mortgage that she just couldn't pay."

"They're like folks you know and that you've worked with," Gill said. "Maybe the work's not there right now. Maybe they got behind on their payments. But the idea of a typical homeless person has changed. We're seeing individuals come in that have never had to access the safety net before."

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:05:23 PM EST
[ Parent ]
Goldman Sachs May Report Strong Profit - NYTimes.com
More Families Are Becoming Homeless, Study Finds - washingtonpost.com

Coincidence?  I think not.

Somewhere in cyberspace, the ghost of de Chardin is smiling.

by budr on Mon Jul 13th, 2009 at 05:24:46 PM EST
[ Parent ]
Of course you can make money if you're screwing the market.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:26:07 PM EST
[ Parent ]
Of course you can make money if you're screwing you are the market.

Fixed.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 13th, 2009 at 07:38:45 PM EST
[ Parent ]
Actually, it's okay is you make money because you're the market. It's not okay if it's becuase you're screwing with it.

The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
by Migeru (migeru at eurotrib dot com) on Tue Jul 14th, 2009 at 04:07:10 AM EST
[ Parent ]
Many of us have suggested a "Tobin tax" on financial transactions as a way to raise money and to discourage rapid trading.  It is beginning to look like this is what the government has given Goldman, in part through its Supplementary Liquidity Provider status and in part through studiously looking the other way concerning how Goldman has combined this with their market monitoring and proprietary trading programs.  This has allowed GS to make >$100 million a day in trading profits.  That is >$2 billion a month, just from their proprietary trading, "market making" and "Supplementary Liquidity Provision" services.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 08:39:38 PM EST
[ Parent ]
EUobserver / Britain and France record highest June job cuts

Job losses across the European Union continue to outnumber job gains, with the highest number of announced lay-offs recorded in June in France and Britain, a fresh EU report showed.

The situation in the labour market in the 27-member bloc keeps deteriorating, according to a monthly monitor conducted by the European Commission and published on Friday (10 July).

Half of the total job losses across Europe since last September were recorded in manufacturing

The report points out that between September 2008 and June of this year, some 640,000 jobs disappeared while 219,000 posts were created. Last month alone there were 87 cases of restructuring-related job losses, which led to 50,000 workers being put out of work.

France with 19,625 announced lay-offs and Britain with 11,528 jobs to go, topped the June list of EU countries with the highest number of restructuring cases in the labour market, followed by the Czech Republic (3,070), Poland (2,310), Germany (1,960) and (1,950).

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:08:43 PM EST
[ Parent ]
Back in the Black: German Economics Ministry Says Recession Is Over - SPIEGEL ONLINE - News - International

Germany has been suffering its worst recession since World War II. But the dark clouds could soon be lifting as the country looks like avoiding another quarter of negative growth.

Is the German economy on the road to recovery? The recession is over in Germany. That at least is the conclusion of the Economy Ministry in Berlin. In their internal report on economic growth in the second quarter, seen by SPIEGEL, the ministry's experts have come to the conclusion that growth was exactly 0 percent for the three-month period in question.

This modest but unexpected figure is welcome news. The German economy has been shrinking since the second quarter of 2008, marking the worst recession in the country since World War II. The experts base their calculations on the data available for April and May 2009 and coupled them with estimates for June. The official growth figures will only be announced by the Federal Statistics Office in August.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:11:36 PM EST
[ Parent ]
Now BA pilots vote to accept 2.6% pay cut - Business News, Business - The Independent

British Airways pilots have overwhelmingly accepted 2.6 per cent pay cuts as part of a package of measures to save the airline £26 million, it was announced today.

The British Airline Pilots Association (Balpa) said its members voted by more than nine to one in favour of the pay cut, as well as a reduction of 20 per cent in some allowances.

Balpa said the turnout in the ballot was 83 per cent, with the result announced ahead of BA's annual meeting tomorrow.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:13:17 PM EST
[ Parent ]
I'd have made a condition that the board have to reduce their bonuses by ten times that amount.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:27:01 PM EST
[ Parent ]
From Calculated Risk

This graph...compares the BLS reported monthly unemployment rate (in red) with the Obama economic forecast from January 10th: The Job Impact of the American Recovery and Reinvestment Plan

Geithner is correct about the stimulus kicking in during the 2nd half of 2009, and Delong agrees. But Delong is pointing out that the economy is in much worse shape than originally expected, and he argues if the Obama Administration knew in January what we know today, the package would have been much larger. Maybe. But thinking back - there was a huge political problem with the word "trillion" - so a much larger package would have been very difficult (although the composition could have been different).


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

by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 09:26:30 PM EST
[ Parent ]
So a second stimulus of the same size as the first is needed?

The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
by Migeru (migeru at eurotrib dot com) on Tue Jul 14th, 2009 at 04:06:02 AM EST
[ Parent ]
But even that might fail unless the banking mess is cleaned up.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Tue Jul 14th, 2009 at 10:56:35 AM EST
[ Parent ]
I keep saying "if you want lending to happen, lend directly, don't bail out the banks".

A case in point from last week:

El fondo bancario podrá disponer de 90.000 millones · ELPAÍS.com[Spain's] banking fund may have €90bn at its disposal. - ElPaís.com
El Fondo de Reestructuración Ordenada Bancaria (FROB), convalidado ayer en el Congreso, contará con una aportación inicial de 9.000 millones de euros, ampliable a 90.000. Es el segundo plan de rescate para la banca aprobado en los últimos meses.The Ordered Banking Restructuring Fund (FROB), validated yesterday in the Congress, will have an initial contribution of €9bn, extendable to €90bn. It is the second rescue plan for the banking sector approved in the last few months.

Now compare this to yesterday's

Spain is aiming to change its economic model away from construction and towards the "sustainable economy".

Salgado pide a los bancos y cajas 10.000 millones para el fondo de economía sostenible · ELPAÍS.comSalgado asks banks and S&Ls for €10bn for the sustainable economy fund - ElPaís.com
La vicepresidenta segunda del Gobierno y ministra de Economía, Elena Salgado, ha clausurado el IX Encuentro Financiero Internacional organizado por Caja Madrid y EL PAÍS, acto en el que ha pedido hoy a los bancos y cajas que aporten el 50% del futuro fondo para la economía sostenible que se pondrá en marcha en 2010 y que ascenderá a 20.000 millones de euros. Cuando llegue la recuperación, ha afirmado Salgado, el sector financiero español deberá "redirigir la asignación de recursos hacia sectores sostenibles, es imprescindible su participación en el fondo".[Spain's] Second Deputy Prime Minister and minister for the Economy, Elena Salgado, has closed the 9th International Financial Meeting organised by [S&L] Caja Madrid and El País, an event in which she asked banks and S&Ls to contribute 50% of the future Sustainable Economy Fund which will kick off in 2010 and will reach €20bn. When the recovery arrives, Salgado claimed, the Spanish financial sector will have to "redirect the resource allocation towards sustainable sectors, its participation it the fund is a requirement".
Now I'm pissed off...
That's some return on investment: give the banks €90bn now so they will lend €10bn next year for your "green economy fund". The government is basically saying 1) we can't afford to give €20bn for the green economy fund by ourselves, half of that will have to come from the banking sector; 2) to ensure there is a banking sector next year, we'll authorise 9 times as much to be given to an FDIC on steroids now. It makes no sense.

The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
by Migeru (migeru at eurotrib dot com) on Tue Jul 14th, 2009 at 11:23:16 AM EST
[ Parent ]
I made a similar point in an old diary: The Phoenix Solution, in which I proposed using a fraction of the money in the proposed stimulus for the creation of new banks, that would not be contaminated by toxic assets.  Obama could do that.  It would require turning on the big banks, but if he did and accompanied it with prosecutions for everything that is prosecutable he could save the economy and the possibility of democratic government and at the same time improve his re-election chances.  But this will be the last thing he would do by his own choice.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Tue Jul 14th, 2009 at 02:02:49 PM EST
[ Parent ]

It's time to close a big tax loophole for businesses

California's property tax burden has gradually shifted to homeowners because commercial and industrial property doesn't change hands as often as homes and the sales can be easily disguised.

A sale is a pretty straightforward transaction for a home. That's not the case for commercial or industrial property, where a sale can be disguised in an almost infinite number of ways.

"The whole system is completely unenforceable," says Lenny Goldberg, a Sacramento lobbyist who, as director of the California Tax Reform Assn., has been pressing for years to institute a "split roll" -- that is, to tax commercial and industrial property differently from residential.  The idea is to reverse what has been a shift in California's property tax burden onto homeowners from business owners under Proposition 13.

-Skip-

Goldberg calculates that Disneyland, which hasn't had a reportable change of ownership since, well, forever, is currently taxed at an average of about a nickel per square foot. For comparison, a median California home bought last year out of foreclosure, measuring 1,600 square feet and selling for about $330,000 (these are averages from the California Assn. of Realtors), would incur property tax of about $3,300 per year, or $2.06 per square foot.

-Skip-

An effort by public employee unions to get a split-roll initiative on the ballot in 2006 didn't even make it past the signature-gathering stage. But those were different times. Maybe, just maybe, the voters of this financially spavined state aren't still so reluctant to close a big loophole.

Ya think?


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

by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 10:29:10 PM EST
[ Parent ]
It's time to close a big tax loophole for businesses

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 10:32:01 PM EST
[ Parent ]
Why Official Forecasts Are Wrong So Often  by Steve Klein

Almost every holder of a PhD in economics who works for a formal economic body like the Treasury, the RBA or the OECD has been deeply schooled in "neoclassical" economics, often without knowing that there is any other way of thinking about how the economy functions. They think they are simply "economists", and anyone who objects to their analysis or models must be uneducated about economic theory.

In contrast, virtually all University Departments of Economics contain at least one economist who rejects neoclassical economics, and instead subscribes to a rival school-like Austrian, Marxian, Post Keynesian, or Evolutionary Economics.  These contrarian academic economists often disagree amongst themselves, sometimes vehemently-you couldn't get two more opposed points of view than Austrian and Marxian economics, for example-but they tend to be united in regarding neoclassical economic theory as pompous drivel.

There are probably many reasons for this dichotomy between University economics departments which almost always have a handful of dissidents, and official economics bodies like the OECD and Treasury that are almost exclusively staffed by neoclassical economists. But I suspect the main reason is tenure: universities offer it, while formal economic advisory bodies don't.

As a result, academic economists who "turn feral" and reject neoclassical economics can still teach and publish and hang on to their jobs, even if their neoclassical Department Heads wish they would go away. OECD and Treasury economists who do the same thing probably find their employment coming to an end-because they don't have tenure.

So anything published by a formal economic body like the OECD will be the product of a neoclassical economic model-and therefore, in my opinion and that of a sizable minority of academic economists, drivel (there was one exception-the Bank of International Settlements while Bill White, a supporter of Hyman Minsky's "Financial Instability Hypothesis", was its its Economic Adviser).



If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 11:21:47 PM EST
[ Parent ]
FT.com / Comment / Opinion - Time to tackle the real evil: too much debt (By Nassim Nicholas Taleb and Mark Spitznagel on July 13 2009)
Our analysis is as follows. First, debt and leverage cause fragility; they leave less room for errors as the economic system loses its ability to withstand extreme variations in the prices of securities and goods. Equity, by contrast, is robust: the collapse of the technology bubble in 2000 did not have significant consequences because internet companies, while able to raise large amounts of equity, had no access to credit markets.

Second, the complexity created by globalisation and the internet causes economic and business values (such as company revenues, commodity prices or unemployment) to experience more extreme variations than ever before. Add to that the proliferation of systems that run more smoothly than before, but experience rare, but violent blow-ups.

...

Third, debt has a nasty property: it is highly treacherous. A loan hides volatility as it does not vary outside of default, while an equity investment has volatility but its risks are visible. Yet both have similar risks. Thus debt is the province of both the overconfident borrower who underestimates large deviations, and of the investor who wants to be deluded by hiding risks. Then there are products such as complex derivatives, which in the name of "modern finance" make the system even more fragile.



The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
by Migeru (migeru at eurotrib dot com) on Tue Jul 14th, 2009 at 04:00:35 AM EST
[ Parent ]
Migeru:
A loan hides volatility as it does not vary outside of default, while an equity investment has volatility but its risks are visible.
This reminds me of what Taleb himself had to say about options in his book dynamic hedging:
There are two (good news/bad news) points to consider when dealing with the discontinuous payoff options.
  1. The bad news is that almost all available hedges in the market are continuous payoff products, therefore creating imperfect or unstable hedges. There may be constructions that provide an accurate hedge (such as vertical spreads), but these constructions are too costly to execute and generally are unavailable.
  2. The good news is that the bet option has small bite. It is a relatively harmless product for those who trade it as it shold be traded - as a bet. Dynamic hedging is to be avoided in these situations.
In other words, debt should be traded as a bet. The first problem was 'solved' by CDS's, and we saw how that turned out.

The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.
by Migeru (migeru at eurotrib dot com) on Tue Jul 14th, 2009 at 04:32:14 AM EST
[ Parent ]
 WORLD 

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:01:34 PM EST
Ethnic Unrest in Xinjiang: Uighurs Lament their Lost Homeland - SPIEGEL ONLINE - News - International

As it did in Tibet, the Chinese leadership is harshly cracking down on unrest in Xinjiang. The region's Muslim Uighurs feel degraded and robbed of their culture while they suffer in their homeland under the dominance of the Han Chinese.

Hairegul is wearing a pink T-shirt with the word "Sunshine" printed on the front. Her fingernails are the same shade of pink, her eyelashes are painted with mascara, and she is adept at flipping her long black hair back and forth. Meanwhile, Wang Xiaomei's hair is pinned up and five rhinestone studs sparkle in her left ear. She is wearing a striped sweater and clunky, brightly colored plastic bracelets around her wrist.

 Unrest in Urumqi. Hairegul is a Uighur and Wang Xiaomei is Han Chinese. They are both daughters of affluent parents, 21 and in the middle of their semester exams at a teacher training college in Urumqi. The two women live in the same dormitory and are sitting in the same classroom. They are both studying music and want to be teachers. They have the same dream.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:10:01 PM EST
[ Parent ]
Britain halts some arms exports to Israel in response to Gaza conflict - Times Online

Britain became the first country to halt arms exports to Israel in response to its Gaza offensive, rescinding five export licences for parts used on warships which were deployed in the conflict.

An Israeli official said that Britain had reviewed 182 licenses before deciding to revoke the five in connection with the Saar 4.5 class corvette. The British Embassy in Tel Aviv confirmed the move but said that it did not constitute an embargo on Israel.

"There are no security agreements between the UK and Israel," an embassy spokesman said. "UK policy remains to assess all export licences to Israel against the consolidated EU and national arms export licensing criteria."

[Murdoch Alert]
by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:14:39 PM EST
[ Parent ]
5 licences refused out of 182. Brutal. Britain gets harsh .. Oh, please ....

 

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:29:35 PM EST
[ Parent ]
and those five all appear to be involved in one ship, so only one thing actually refused.

I'm tired of this backslapping, aint humanity great BS, we're a virus with shoes Bill Hicks
by ceebs (ceebs (at) eurotrib (dot) com) on Mon Jul 13th, 2009 at 06:25:27 PM EST
[ Parent ]
Firedoglake » McChrystal Digs In, Afghan Women Say Get Out
The quagmire of  Afghanistan becomes clearer each day as reports filter out that the grand surge in Helmand is stymied and Afghan townspeople are not so pleased with their "liberation." 

Yet, while an uproar in the UK over their casualties this week - 15 dead in 10 days - grows, (see "renowned British military historian Correlli Barnett ... in the pages of the very conservative Daily Mail" (h/t Steve Hynd of Newshoggers)) Gen McChrystal continues to up the expectation that he will be asking for more US troops and more billions when he completes his strategic review:

The top U.S. commander in Afghanistan said Sunday that when he gives his assessment to the Obama administration next month of what is needed to defeat the Taliban , he won't be deterred by administration statements that he cannot have more U.S. troops.

One of the central talking points justifying our ongoing war has always been talk about protecting or saving the women of Afghanistan. Both the right and the left have used this argument as a rationale for continuing - yet few ever listen to the wishes of actual Aghan women.

After the US air strike killed more than 140 Afghan civilians in Farah province, Malalai Joya, the MP for Farah who was forced from Parliament by the US backed warlords noted:

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:15:38 PM EST
[ Parent ]
nonsense, iut's becoming increasingly clear that Afghanistan is the last ditch defence of NATO. We are fighting to protect their pensions.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:30:43 PM EST
[ Parent ]
I can't find much (in fact almost nothing) on the web, so here's the information from the Boosey and Hawkes website.
de Arriaga - Brüning: Die Sultana von Cádiz (The Sultana of Cádiz) (arr.2008) 90'
Opera in two acts (Pasticcio with music from pieces by Arriaga)

For the Barenboim-Said Foundation's first opera project we decided to commission a libretto, but not a new composition'with only a year to prepare, time would have been too short. We therefore took recourse to already existing music by the Spanish composer J. C. de Arriaga (1806-1826) and put together an opera pasticcio from several of his works. To this we added traditional Arabic music, played by musicians from the region.

The premiere is tomorrow, July 14.
by gk (g k quattro due due sette "at" gmail.com) on Mon Jul 13th, 2009 at 04:43:08 PM EST
[ Parent ]
 LIVING OFF THE PLANET 
 Environment, Energy, Agriculture, Food 

     

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:02:02 PM EST
BBC NEWS | Health | Obesity 'link to same-sex parent'

There is a strong link in obesity between mothers and daughters and fathers and sons, but not across the gender divide, research suggests.

A study of 226 families by Plymouth's Peninsula Medical School found obese mothers were 10 times more likely to have obese daughters.

For fathers and sons, there was a six-fold rise. But in both cases children of the opposite sex were not affected.

The researchers believe the link is behavioural rather than genetic.

They say the findings mean policy on obesity should be re-thought.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:07:09 PM EST
[ Parent ]
It's poppycock to grow crops here but destroy them in Afghanistan - Telegraph
Why pay our farmers to produce opium while Afghan poppy crops are razed, asks Boris Johnson.

We are nearing the end of the season for the big ornamental poppies that flower all over South Oxfordshire, the area I used to represent in parliament. The petals have fallen to the ground, pink and purple and red. But I expect the seed-pods are still standing tall. If you take a sharp knife to one of those seed-pods, and make a careful diagonal incision, you will see a white latex ooze out. What is that gunk? That is opium, my friend; and the reason there are so many giant poppies all over that part of England is that the seeds have been blown in the wind or carried in the guts of birds. They have come from the farms. We actually grow opium there, and we grow it officially.

At direct government urgings, there are large tracts of land that are given over to the cultivation of the palaver somniferum, for the very good reason that the opium is essential for the NHS. When we die of cancer, or when we are carried off in any other mortal agony, our final miseries are invariably palliated by opiates, in the form of morphine or diamorphine, and indeed our respiration is typically suppressed by these drugs in a vast and unadmitted programme of humane killing.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:07:37 PM EST
[ Parent ]
But having a sensible policy like that would require going against the expressed order of the USA. Doesn't he know we aren't there as autonomous operatives ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 13th, 2009 at 05:32:32 PM EST
[ Parent ]
and this occurred to me after reading a crazy story about Wallabies getting high in the poppy fields and making crop circles in Tazmania a couple of weeks ago, that it would be a matter of regulation.

I was surprised to learn that Australia has a large percentage of regulated opium production and exports for medicine.

I thought about this in the context of Afghanistan as eradicating poppies is far more problematic than regulating their trade.

But who would regulate it?  The government is worthless outside of Kabul and it seems just as corrupt as organized crime within.

I doubt General Dostum is going to legally self-regulate.

In Afghanistan's case, without a reliable government, they resort to destroying the crops.

However, from the drug wars in South America and destroying cocoa, we know that plan is also useless.

But I think that would be the immediate answer to Mr. Johnson's question.

"Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"

by Jeffersonian Democrat (rzg6f@virginia.edu) on Tue Jul 14th, 2009 at 08:58:43 AM EST
[ Parent ]
El Niño is back, bringing droughts, floods, crop failures and social unrest - Times Online

El Niño, the warming of the Pacific Ocean that creates chaos in global weather patterns, is on its way back, threatening droughts, floods, crop failure and social unrest.

According to scientists at America's National Oceanic and Atmospheric Administration (NOAA), a new bout of El Niño is under way as the surface of tropical waters across the eastern Pacific has warmed roughly 1C (1.8F) above normal and is still rising.

Further down, some 150 meters (500ft) below the surface, the waters are heating up -- by around 4C (7.2F).

These indications have been emerging for about the past month from satellite pictures and an array of robotic buoys strung out across the Pacific. "The persistently warm sea temperatures are important indicators of an El Niño," Mike Halpert, of NOAA's Climate Prediction Centre, said.

[Murdoch Alert]
by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:07:58 PM EST
[ Parent ]
 LIVING ON THE PLANET 
 Society, Culture, History, Information 

     

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:02:36 PM EST
Sold for £80k: lighthouse beach that inspired Woolf - News, Books - The Independent
The Cornish beach that inspired Virginia Woolf's novel To The Lighthouse has been sold for £80,000. A private buyer from London who originally hails from Cornwall bought Upton Towans beach in Gwithian, complete with a view of the Godrevy Island lighthouse, at auction.

All the proceeds will go to the Hall for Cornwall theatre in Truro because Dennis Arbon, a trustee of the performing arts venue who has owned the beach for the past 19 years, wants the sale to be of benefit to the people of Cornwall.

The guide price for the 76 acres of beach near Hayle was £50,000. Woolf's novel, published in 1927, was set in the Hebrides but drew on her childhood holidays in St Ives, where she stayed at a house from which Godrevy Island was visible. A landmark of early 20th century literature, Woolf called her most autobiographical work "easily the best of my books". She used the money garnered from sales to buy a car.

Planning restrictions mean the new owner is not allowed to build on the land or excavate minerals.

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:21:26 PM EST
[ Parent ]
Swearing like a sailor may alleviate pain

A study appearing in the August 5 NeuroReport suggests that four-letter words may help alleviate pain. "Swear words are unique," says Timothy Jay, a psychologist at Massachusetts College of Liberal Arts in North Adams, who has studied the role of naughty words in linguistics. "They're really the link between the language system and the emotional system."

Inspiration for the new study came to psychologist Richard Stephens as he listened to his wife let loose with some unsavory language during the throes of labor. So he and his colleagues at Keele University in England conducted an experiment to test whether uttering emotion-laden choice words can actually change the amount of pain people feel. Undergraduate students (38 males and 29 females) each immersed a hand in cold water (about 5º Celsius) for as long as they could stand it, while repeating either a swear word or an innocuous word.

-Skip-

When people had a swear word for their mantra (popular choices: the s-word, the f-word, two b-words and a c-word), they were able to keep a hand in the chilly water longer. What's more, after the ordeal, people who swore reported less pain.

-Skip-

Swearing increased heart rate in both men and women, but had a greater effect on women. Researchers thought the heart rate increase might signal the beginning of a fight-or-flight response. Such a response may allow the body to tolerate or ignore pain, they say.

 

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

by ARGeezer (ARGeezer at eurotrib.com) on Mon Jul 13th, 2009 at 11:02:49 PM EST
[ Parent ]
my new excuse: my back hurts!

"Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
by Jeffersonian Democrat (rzg6f@virginia.edu) on Tue Jul 14th, 2009 at 09:01:41 AM EST
[ Parent ]
BBC NEWS | Science & Environment | Cats 'exploit' humans by purring

Cat owners may have suspected as much, but it seems our feline friends have found a way to manipulate us humans.

Researchers at the University of Sussex have discovered that cats use a "soliciting purr" to overpower their owners and garner attention and food.

Unlike regular purring, this sound incorporates a "cry", with a similar frequency to a human baby's.

The team said cats have "tapped into" a human bias - producing a sound that humans find very difficult to ignore.



I'm tired of this backslapping, aint humanity great BS, we're a virus with shoes Bill Hicks
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Jul 14th, 2009 at 05:22:05 AM EST
[ Parent ]
Getting a paw up your nose may also have something to do with it.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Jul 14th, 2009 at 06:35:12 AM EST
[ Parent ]
China bans electric shock treatment to cure internet 'addiction' | World news | guardian.co.uk

China's ministry of health has banned the use of electric shock treatment to cure internet addiction.

The move follows growing concern in the country about young people's compulsive use of chat rooms, websites and online gaming - but also the methods used to wean them offline.

Doctors released the first diagnostic definition of internet addiction late last year, based on a study of more than 1,300 intensive users. It says addicts are those who spend at least six hours online a day and have shown at least one of a range of symptoms - including yearning to get back online, fear of social contact, irritation and difficulty concentrating or sleeping.



I'm tired of this backslapping, aint humanity great BS, we're a virus with shoes Bill Hicks
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Jul 14th, 2009 at 08:25:04 AM EST
[ Parent ]
 PEOPLE AND KLATSCH 

 

by Fran (fran at eurotrib dot com) on Mon Jul 13th, 2009 at 02:03:34 PM EST
Berlin brothel offers discounts for cyclists - Yahoo! News

BERLIN (Reuters) - A Berlin brothel has come up with a novel way to negate the impact of the global economic crisis and target a new group of customers at the same time -- offering a discount to patrons who arrive on bicycles.

"The recession has hit our industry hard," said Thomas Goetz, owner of the "Maison d'envie" brothel.

"Obviously we hope that the discount will attract more people," he added. "It's good for business, it's good for the environment -- and it's good for the girls."



I'm tired of this backslapping, aint humanity great BS, we're a virus with shoes Bill Hicks
by ceebs (ceebs (at) eurotrib (dot) com) on Mon Jul 13th, 2009 at 02:43:51 PM EST
[ Parent ]
According to their website (find it yourself if you're interested....) they are also non-smoking and wheelchair accessible. I couldn't find anything about racial or sexual discrimination, though.
by gk (g k quattro due due sette "at" gmail.com) on Mon Jul 13th, 2009 at 04:33:51 PM EST
[ Parent ]
Greens...

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Tue Jul 14th, 2009 at 03:56:44 AM EST
[ Parent ]
Olympic hopeful opens brothel to pay for training

CNN) -- A cash-strapped Olympic hopeful in New Zealand says he has been forced to open a brothel to fund his bid for taekwondo glory in 2012, but officials say his entry into the sex trade could mean his exit from international sport...

...The 23-year-old, who finished in the top 16 in Beijing after losing his first match, says he needs to raise $190,000 over the next two years....

"This is perfectly legal, so I do not see why I would wreck my chances," he said, adding that if people had other ideas how to raise the cash, he would be willing to consider them.



"Schiller sprach zu Goethe, Steck in dem Arsch die Flöte! Goethe sagte zu Schiller, Mein Arsch ist kein Triller!"
by Jeffersonian Democrat (rzg6f@virginia.edu) on Tue Jul 14th, 2009 at 09:15:47 AM EST
[ Parent ]


You can't be me, I'm taken
by Sven Triloqvist on Mon Jul 13th, 2009 at 04:24:49 PM EST
[ Parent ]
Well. That was different.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 13th, 2009 at 07:43:56 PM EST
[ Parent ]
Grabula and Grabs-U



You can't be me, I'm taken

by Sven Triloqvist on Tue Jul 14th, 2009 at 04:12:56 AM EST
[ Parent ]


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