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Wednesday Open Thread

by afew Wed Jun 6th, 2012 at 11:42:11 AM EST

Take it from the top


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Unless you're bottom-up.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jun 6th, 2012 at 11:42:56 AM EST
It's a bit early for bottoms-up.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Wed Jun 6th, 2012 at 11:47:01 AM EST
[ Parent ]
That depends entirely on your timezone.

Or the level of moral turpitude you're willing to admit to.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt ät gmail dotcom) on Wed Jun 6th, 2012 at 11:53:09 AM EST
[ Parent ]
I never drunk no turpentude, moral or otherwise.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Wed Jun 6th, 2012 at 12:13:32 PM EST
[ Parent ]

Bio | Buika

Hailed as the "Flamenco Queen," Buika is the daughter of political refugees from the African nation of Equatorial Guinea and grew up in a gypsy neighborhood on the Spanish island of Mallorca. The New York Times calls her unique blend of flamenco, jazz, soul and blues, "luminous...magnificent...superb!"

Never mind the NYT, that's what I think too.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jun 6th, 2012 at 12:00:27 PM EST
Buika strikes me as a symbol of the new "multicultural" Spain. I like this song a lot.



And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Wed Jun 6th, 2012 at 02:43:12 PM EST
[ Parent ]
Somehow I'm feeling this today:



The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt ät gmail dotcom) on Wed Jun 6th, 2012 at 12:05:11 PM EST
Guardian - Gary Younge - Wisconsin Democrats get dealt a bitter blow in courageous battle

Finally the Tom Barrett and the Democrats ran a confused and unconvincing campaign. Everybody knew what Walker stood for even if they didn't like it: small government, weak unions and low taxes.

It was never quite clear what Barrett stood for apart from that he was not Walker. His message meandered from corruption among Walker's former aides, to the call for a more consensual leadership style from Madison. In 2010 that would have been all well and good. But the recall was prompted for a reason - Walker's attacks on trade unions as a foil for balancing the budget. Yet Barrett did not stand as a defender of labour and did not produce a credible, progressive response to the state's fiscal problems.

Tom Barrett was the John Kerry of Wisconsin. In the five days I've been reporting from the state I have yet to meet a single person who voted for him as opposed to against Walker. In the end this was just not enough. His failure to give some vision for what Wisconsin under his stewardship would look like could not win over the coveted independents or sufficiently inspire his base.

When it came down to it, the people of Wisconsin wanted more than the absence of Scott Walker. They wanted the presence of an alternative.



keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 12:32:36 PM EST
[ Parent ]
Oops, I didn't mean that to be there, sorry gloria

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 12:33:16 PM EST
[ Parent ]
They wanted the presence of an alternative.

True everywhere but "I just can't seem to care". I don't live in Wisconsin and I don't look upon myself as a citizen of the US Empire. I'm a Californian. not by birth but by choice, Sauron seems to be spreading his realm across the planet and I suspect that California, France, and Iceland will gradually become isolated islands in the septic tank. Glad I'm not young.

http://www.youtube.com/watch?v=_wp4O7v5320

by THE Twank (yatta blah blah @ blah.com) on Wed Jun 6th, 2012 at 02:33:47 PM EST
[ Parent ]
California ?? Land of proposition 13, Ronnie Reagan and a seemingly perpetual republican ownership of Sacramento.

Oh, and the Inland Empire

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 03:04:27 PM EST
[ Parent ]
That's not actually the situation in California. It's a pretty solidly Democratic state, but because of the way the system works, they're not able to have their way on anything. You need a supermajority to pass most bills, and it's too easy for initiated petitions to change the state constitution. It's sort of a precursor to the system we have now in our U.S. Senate where you need 60 votes to pass any bill.

In the European multi-party system, the problem is getting a big enough grouping of small parties together to form a government, while in the U.S. system the problem is that you need a supermajority to pass bills--but only have two parties that are usually balanced at around 49:51 percent.

I don't know what the problem in the U.K. is other than the LibDems who could act as a swing vote but instead kowtow to Cameron.

by asdf on Wed Jun 6th, 2012 at 03:25:37 PM EST
[ Parent ]
The Republicans in CA have the advantage of a wrecker's mentality - kill the beast. The Democrats still retain the handicap of actually wanting the state to work. Perhaps the Democrats should concentrate on wrecking everything that works for the Republican business constituency, not business per se, but all of the state sponsored 'gimies' to business.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Jun 6th, 2012 at 03:54:08 PM EST
[ Parent ]
At first blush, the 49-51 ratio in a two party system would seem to be a positive outcome for democracy.

On further reflection one realises they worship the same golden calf, so it sucks. The tension between the two is so much kabuki, it matters little which side wins and the same terrible policies are enacted, be it concerning climate chaos, natural resource pillage, rollback of workers'  rights, institutional theft by the 1% from the poor and politically vulnerable, privacy from ubiqutous surveillance, the relentless, soulsucking Commodification of Everything, drone mayhem, hyper-consumerism and fellating Wall St.

Dumb down the populace with junk foodertainment till they're obese morons choking on their own drool, gut the universities of creative and critical thinking systematically until all that's left is corporate asskissing intellectual prostitution and self-salesmanship.

Surprising result just in...

A planet run by psychopaths from mediocre middle management!

Have we hit bottom yet or is there more fun and frolic in store for hapless humanity? Tune in tomorrow for more nailbiting suspense on the your DoomPorn channel of choice, ET, where discerning minds study, microanalyse and adumbrate the swirl patterns formed by Human History's epic plunge down the proverbial Crapper!!
Life is tragic, what makes it so?
Love needs magic to help it grow.
This goes to show, that we forgot more than we know we'd forgotten.

It's a fine line between homage, parody, and consumer opportunism. Jess Walter

by melo (melometa4(at)gmail.com) on Wed Jun 6th, 2012 at 08:51:11 PM EST
[ Parent ]
... a seemingly perpetual republican ownership of Sacramento.

Please cite your source. I live here and I don't see it.

http://www.youtube.com/watch?v=_wp4O7v5320

by THE Twank (yatta blah blah @ blah.com) on Wed Jun 6th, 2012 at 03:28:41 PM EST
[ Parent ]
Not to mention that today
In San Diego and San Jose, voters overwhelmingly approved ballot initiatives designed to help balance ailing municipal budgets by cutting retirement benefits for city workers.

Around 70 percent of San Jose voters favored the pension measure, while 66 percent of San Diego residents supported a similar measure

by gk (g k quattro due due sette "at" gmail.com) on Wed Jun 6th, 2012 at 04:13:04 PM EST
[ Parent ]
Which truly shows that the propaganda is well-honed and working.


"Life shrinks or expands in proportion to one's courage." - Anaïs Nin
by Crazy Horse on Wed Jun 6th, 2012 at 04:30:01 PM EST
[ Parent ]
Are those pensions to come in part out of retirement fonds invested in bonds and shares? In that case the current low interest rates explain this nicely. The calculations have been invalidated. And so the majority of taxpayers votes down the minority of public employees. Not much ideology is needed for an explanation.
by oliver on Wed Jun 6th, 2012 at 04:48:58 PM EST
[ Parent ]
no, another explanation might be the success of the propaganda of the "make gov't so small you can sink it in a bathtub."

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin
by Crazy Horse on Thu Jun 7th, 2012 at 03:27:46 AM EST
[ Parent ]
I live in San Jose and I knew it would pass when I saw the ads for the prop. In a culture where people are angry and not part of a community, the emotional response to seeing how much money public pensioners get is to want to deny said pensions versus asking "why don't I have something like that?"

I feel this way about any conservative initiative. In an emotionally damaged world, destruction is a trivial exercise.

you are the media you consume.

by MillMan (millguy at gmail) on Thu Jun 7th, 2012 at 04:20:50 AM EST
[ Parent ]
Amazing what one finds out there on teh interwebz:



The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt ät gmail dotcom) on Wed Jun 6th, 2012 at 12:33:10 PM EST
Bizarre

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 12:38:22 PM EST
[ Parent ]
So who has seen the transit of Venus in front of the Sun?

I taped two goggles with darkened film "glasses" (which i kept since the 1999 solar eclypse) in front of a binocular (same method I used during the 2004 transit).  even faintly saw one of the sunspots (the biggest one, above the airplane on the photo below from this gallery).



*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Wed Jun 6th, 2012 at 02:04:01 PM EST
We had cloud forecast so I didn't even try

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 02:17:10 PM EST
[ Parent ]
Clouds here.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jun 6th, 2012 at 02:40:17 PM EST
[ Parent ]
Look around for contests to enter. That's a great picture.
by asdf on Wed Jun 6th, 2012 at 03:26:45 PM EST
[ Parent ]
It's not mine, it's by one Kevin Mátyás, from the linked gallery. He may well have entered it in a contest.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Wed Jun 6th, 2012 at 05:26:20 PM EST
[ Parent ]
for your EM prep: Watch the guy behind Mario Götze.



"Life shrinks or expands in proportion to one's courage." - Anaïs Nin

by Crazy Horse on Wed Jun 6th, 2012 at 02:26:58 PM EST
EM prep?

?

Ever since I learnt about confirmation bias I've started seeing it everywhere

by ATinNM on Wed Jun 6th, 2012 at 02:31:09 PM EST
[ Parent ]
Europa Meisterschaft. 'Spose it's the Euro Cup in englisch, or the Ukrainian Freedom Medal.

Top 16 national teams, tournament begins Friday for a month.

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin

by Crazy Horse on Wed Jun 6th, 2012 at 03:10:37 PM EST
[ Parent ]
given how half our squad are crocked, the manager only came in place at the beginning of May and we've been playing especially badly, there is zero expectation that we'll even get out of the group stages. Hardly anyone is travelling out there cos there are no hotels and the public transport is non-existent and the locals are known to be hostile.

Consequently euro fever in England is at the lowest it's been for ....ooooh 30 years if not more

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 03:24:46 PM EST
[ Parent ]
Never mind, you've had a lovely Jubilee.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jun 6th, 2012 at 03:44:41 PM EST
[ Parent ]
And even lovelier Olympics coming up.
by gk (g k quattro due due sette "at" gmail.com) on Wed Jun 6th, 2012 at 03:47:55 PM EST
[ Parent ]
to get out of the group stage. England (and perhaps France) players might be well-advised to accept offers for throwing a match, to escape more drastic measures.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Thu Jun 7th, 2012 at 04:00:13 AM EST
[ Parent ]
Where is our customary predictions thread!?

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Thu Jun 7th, 2012 at 04:13:41 AM EST
[ Parent ]
In Germany 47% believe Germany will win, 16% Spain and 3% the Netherlands.

In other news the sun did rise in the east.

by IM on Thu Jun 7th, 2012 at 05:16:52 AM EST
[ Parent ]
3% the Netherlands

LOL

(Those 3% are either chronically impartial, Robben fans or uninterested)

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Thu Jun 7th, 2012 at 05:42:23 AM EST
[ Parent ]
Though some here in 'Schland see some disarray, Germany does have a good team.

France has to be a very strong dark horse, despite some key injuries, if not a co-favorite.

With Peter Schmeichel's son in goal, can Denmark be far behind?  ;-))

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin

by Crazy Horse on Thu Jun 7th, 2012 at 05:42:29 AM EST
[ Parent ]
Here: Euro 2012 predictions thread

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Thu Jun 7th, 2012 at 05:39:40 AM EST
[ Parent ]
that's just showing off

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 02:32:48 PM EST
[ Parent ]
Major session with our printer today, choosing paper, print methods etc. I love talking to the old pros who grew up with letterpress, offset and now digital - and they have the same attitude to digital as anything else - how to passionately reproduce (and they are not alone in that).

Even digital printers have their little foibles - so always talk to the guy or gal who works with the machine. 2 hours discussing crackbacks, bleeds, nuutaus (the art of folding) and UV lacquer is just my cup of tea.

This company also has a speciality: printing on plastic. Printed mirror on the reverse (so the image won't scratch or wear) and then heat welded with a soft non-slip backing. At first we thought of mousepads, (cheap at 2€ a pop) but who uses them? Then our brilliant cat lady designer came up with food mats for pets (and babies). When I told this to Mr Inky Fingers, his eyes lit up. "Those pet people will spend any money - pet's are substitutes, right?"  Sometimes one must go with the flow.

You can't be me, I'm taken

by Sven Triloqvist on Wed Jun 6th, 2012 at 03:02:48 PM EST
I suppose Pet Art could become a trend. Whether the animals have time to contemplate the artwork before wolfing their chunks or crunchies is another matter, but this is not so very far removed from the difficulties of communication with the bipedular variety.

Perhaps I should be ready to consider a more radical and so far unachieved publicity stunt: have a Pet's Day on the last day of the Bonk Expo. We might get some direct critique expressed.

You can't be me, I'm taken

by Sven Triloqvist on Thu Jun 7th, 2012 at 06:24:28 AM EST
[ Parent ]
News24: Chinese secretly copy Austrian town

...Minmetals Land Inc.'s replica of Hallstatt, a quaint Austrian alpine hamlet, is located in subtropical southern China.

The original is a centuries-old village of 900 and a UNESCO heritage site that survives on tourism. The copycat is a housing estate that thrives on China's new rich. In a China famous for pirated products, the replica Hallstatt sets a new standard.

The Chinese Hallstatt features a church spire, a town square ringed by pastel-colored buildings and angel statues. They're among architectural flourishes inspired by the original, a centuries-old village of 900...

People in Hallstatt first learned a year ago of Minmetals' plan when a Chinese guest at Wenger's hotel who was involved with the project inadvertently spilled the beans. Minmetals staff had been taking photos and gathering data while mingling with tourists, raising suspicions among villagers.
Minmetals Land is the real estate development arm of China Minmetals Corp., China's largest metals trader.

by Magnifico on Wed Jun 6th, 2012 at 03:07:38 PM EST
If they had half a clue, they would set aside Tibet as a tourist region...instead of importing something from the west...
by asdf on Wed Jun 6th, 2012 at 03:31:20 PM EST
[ Parent ]
Does the copy include the ossuary?

by gk (g k quattro due due sette "at" gmail.com) on Wed Jun 6th, 2012 at 03:35:58 PM EST
[ Parent ]
Intellectual property theft? Too big to prosecute...

It's a fine line between homage, parody, and consumer opportunism. Jess Walter
by melo (melometa4(at)gmail.com) on Wed Jun 6th, 2012 at 07:59:44 PM EST
[ Parent ]
I'll be in London next week, and I was wondering where I can find free Wi-Fi. Usually when I travel, I can usually rely on hotels or friends to have an internet connection, but I'll be staying with relatives from the pre-internet generation...

Also, any suggestions about Paris near the Gare de L'Est? I have about 5 hours to wait between trains: The salons de grandes voyageurs are closed on weekends, and I think the Eurostar lounge still blocks ET, among other things.

by gk (g k quattro due due sette "at" gmail.com) on Wed Jun 6th, 2012 at 03:44:40 PM EST
Err, dunno. I've not looked. Quite a lot of pubs have it, but can't think of any off the top of my head. McDonalds ??

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 6th, 2012 at 03:53:04 PM EST
[ Parent ]
Marshall Auerback: The eurozone's architects have created a doomsday machine and a gift for speculative capital (June 5th, 2012)
To our knowledge, the only one to challenge this benign view was Peter Garber in a 1998 paper on the role of TARGET in a crisis of monetary union (Garber, 1998). The paper insightfully recognized that the federal structure of the Eurosystem and the corresponding continued existence of national central banks with separate individual balance sheets made it possible to imagine a speculative attack within monetary union. According to Garber, the precondition for an attack "must be skepticism that a strong currency national central bank will provide through TARGET unlimited credit in euros to the weak national central banks". His conclusion is that "as long as some doubt remains about the permanence of Stage III exchange rates, the existence of the currently proposed structure of the ECB and TARGET does not create additional security against the possibility of an attack. Quite the contrary, it creates a perfect mechanism to make an explosive attack on the system".
And clearly, that is what we are seeing today.  Incredibly, Europe's leaders still apparently believe they can bluff their way out of the problem.  They have been herd-like, like the gnu; they have put their heads in the sand, like the ostrich.

Merler and Pisani-Ferry wrote the following in March:

"The benign view prevailed during the first ten years of EMU. It even continues to dominate today."
...

Now that the deposit run has unexpectedly gotten out of hand, the ECB and the EU authorities have been afraid to make any mention of it because, in drawing attention to it, they fear exacerbating the run.  Intense efforts in Brussels and Frankfurt and maybe even Washington to deal with the fatal flaw that Peter Garber identified 14 years ago have probably been underway since last fall. Because the flaw is so fatal, solutions have probably been hard to come by, especially for politicians, each with their vested interests, and central bankers desiring to cling to their precious "independence" and their belief in "rational markets".

Jean Pisani-Ferry is the director of Bruegel, my favourite think-tank to poke fun at.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Wed Jun 6th, 2012 at 03:58:07 PM EST


Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Wed Jun 6th, 2012 at 08:14:34 PM EST
[ Parent ]
Business Insider: This Is A Fantastic Presentation On Why 'Germany Is Riskier Than You Think'
Carmel Asset Management's Jonathan Carmel gave this massive presentation on German exposure to the potential outcomes of the eurozone crisis, and concluded that "Germany is riskier than you think."

Since the beginning of the European Monetary Union, German banks and the government have been expanding their exposure to peripheral Europe. No matter what how the crisis ends--fiscal union or euro break-up--dealing with the consequences is likely to be expensive for Germany.

Click here to find out why Germany will probably lose no matter what

Of course, Carmel's presentation is a sales pitch for a bond vs. CDS spread trade for speculators to bet on the idea that the market is underestimating the costs of the Euro crisis to Germany. But the economic presentation is very good.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Wed Jun 6th, 2012 at 04:12:47 PM EST
Simple really: "Who's going to buy your overpriced stuff when all your trading partners are impoverished?

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Wed Jun 6th, 2012 at 08:19:44 PM EST
[ Parent ]
Also, pancakes.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Thu Jun 7th, 2012 at 01:18:55 AM EST
[ Parent ]
It doesn't matter if your customer base is impoverished on average. You just need enough 1%ers as customers. And 1% of China is a lot.
by asdf on Thu Jun 7th, 2012 at 09:11:56 AM EST
[ Parent ]
First big hailstorm of the summer here in Colorado Springs. 1 inch (2.5 cm) diameter hail, lightning, 100 kph wind...
by asdf on Wed Jun 6th, 2012 at 09:04:39 PM EST

Yeeeouch!

by asdf on Wed Jun 6th, 2012 at 09:35:10 PM EST
[ Parent ]
That's not just a hailstone, that's the new improved extra terrain smashing hailstone

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Thu Jun 7th, 2012 at 02:47:42 AM EST
[ Parent ]
I had one of those hailstorms in, ummm, 2002? my annus horribilis. Slightly larger hailrocks.

Cost me about eighty thousand euros to replace the roof.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Thu Jun 7th, 2012 at 03:58:38 AM EST
[ Parent ]


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