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Friday Open Thread

by afew Fri Jul 6th, 2012 at 11:59:30 AM EST

Life is just a box of chocolates


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Forget I said that.
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Jul 6th, 2012 at 11:59:55 AM EST
Don't think about the elephant

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 12:23:24 PM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Jul 6th, 2012 at 12:42:51 PM EST
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That saying has always irritated me, because with a box of chocolates you DO know what you're going to get.

http://www.straightdope.com/columns/read/400/is-there-a-squiggle-code-to-identify-chocolates

by asdf on Fri Jul 6th, 2012 at 01:04:56 PM EST
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I always understood it to mean you could pick what you fancied...
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Jul 6th, 2012 at 03:14:44 PM EST
[ Parent ]
And it has always irritated me.
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Jul 6th, 2012 at 03:15:14 PM EST
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Live is just a bowl of all-bran....

Nah but seriously, I'm out of here. On me bike. See yers in ten days.

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

by eurogreen on Fri Jul 6th, 2012 at 12:01:57 PM EST
Aveyron good.
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Jul 6th, 2012 at 12:37:30 PM EST
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Thee were two USian beer festivals in London yesterday and I went to both of them. And both were massive disappointments, hardly any actual American beer.

The second one was at the White Horse which can normally be relied upon to have a huge selection of American beer at its fests, but this was just hopeless.

Still, the day was not a total loss, I'd been to the Ealing beer fest first and had enjoyed myself quite a bit. If I'd known how poor the others were going to be, I'd have stayed.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 12:26:45 PM EST
Go to an American Stupidity Festival. It always outperforms.

http://www.youtube.com/watch?v=_wp4O7v5320
by THE Twank (yatta blah blah @ blah.com) on Fri Jul 6th, 2012 at 02:45:51 PM EST
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We had 8 full fat years of it c/o Bush II. No more thank you

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 03:03:57 PM EST
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Wait for the Willard Years. W will be remembered kindly.

http://www.youtube.com/watch?v=_wp4O7v5320
by THE Twank (yatta blah blah @ blah.com) on Fri Jul 6th, 2012 at 05:48:19 PM EST
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I'm almost sick of them. We've picked around 50 liters so far, of which we've given away about half. Most of the rest are in the freezer.

Raspberries started coming on in late June. We're giving them away and eating fresh every day, because these keep coming for a month.

Good thing that most of the grandkids live next door.

paul spencer

by paul spencer (spencerinthegorge AT yahoo DOT com) on Fri Jul 6th, 2012 at 12:51:06 PM EST
Nothing going on around here. The fruit trees are largely empty, the garlic has rust, the tomatoes have blight, the beans and courgettes have slugs the size of hippos {only slight exaggeration}

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 01:13:22 PM EST
[ Parent ]
Sounds great, I could live on strawberried and raspberries for days.
by Fran (fran at eurotrib dot com) on Fri Jul 6th, 2012 at 01:31:00 PM EST
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What you really want to do is invent the "Raspberry Cure."

http://www.quackwatch.org/01QuackeryRelatedTopics/Cancer/grape.html

by asdf on Fri Jul 6th, 2012 at 11:05:00 PM EST
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Crushed raspberries, vodka, shot glass,small ammount of crushed ice

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Sat Jul 7th, 2012 at 09:56:21 AM EST
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Sounds like you have a well established garden and orchard. How many strawberry plants do you have and how much space do they occupy?

I have lots of tomatoes which I appear to have saved from the heat wave, and we have put up several quarts of pickles, with several more to go. I also have fresh white onions, radishes, and table cucumbers along with red and white potatoes.

A cool down is due in two days with highs in the low 90s and lows in the high 60s and is forecast to last at least a week. This should insure setting fresh fruit on cucumber vines and tomato plants. The sun screen seems to have done its job and I am again getting new growth on the cucumber vines and new flowers on the tomatoes - despite temps above 100F for most of the last ten days or more.

Next week I plan to get my peppers belatedly in the ground and an electric fence around the garden just for Rocky Raccoon and friends, though I haven't had grazing for a couple of weeks. Pepper plants in 2 liter bottles have set fruit already, while I struggled on with the sun shade project.  Next year I hope to have strawberries and, perhaps, a dwarf fruit tree or three along with some raspberries from cuttings from my neighbor.

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 Fri Jul 6th, 2012 at 11:07:06 PM EST
[ Parent ]
Temperate Garden series a few years ago. You can find them under my name, I think, in the Diary archives. If not, I'll link them for you.

Yes, we have a mature garden with 4 'raised' beds all of which are bordered by strawberry plants. Last year we let them go wild with runners, and this year they almost took over the beds. I spaded up - and gave away - a lot of plants to clear out the middle, but we 'decided' to let them have about half a meter width on all the borders. This year I'm cutting most of the runners, and, now that the output is declining, I'm going to dig up some more plants for second plantings of lettuce, then late plantings of peas.

Our raspberry garden - along with 5 blueberry plants just coming into bearing last year - is located in our original garden from the 1980s. After the kids went to college, I dug up the lower yard and put the main garden down there. The original garden had an ugly chicken-wire fence on standard metal posts. I tore it down, but left the raspberry plants there. The deer decimated the plants in about 3 years, so I took the few survivors and nursed them in one of the 4 beds below. A few years ago I decided to rebuild the old garden space just for the berries, so I built a new fence with concrete footers and 4x4 posts - and 'raised' beds. I buried a water pipe - formerly I dragged a hose out from the house, watered, then rolled it back up for every cycle. It's all 'paid off' rather well.

I have fruit trees surrounding the garden below and have fairly good luck with apples and plums. Pears are coming better, and I get a few peaches. The grapes on the north end are touchy, but we have had a couple of spectacular years. We have two varieties of fig trees in our upper flower garden, and one of them has been very reliable.

paul spencer

by paul spencer (spencerinthegorge AT yahoo DOT com) on Sat Jul 7th, 2012 at 01:55:03 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 02:17:53 AM EST
[ Parent ]
This search page contains them all.
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 02:26:37 AM EST
[ Parent ]
Who's gonna change the world ?



keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 01:10:54 PM EST
Never to old:

Retirees Occupy Community Center in Berlin with Stasi History - SPIEGEL ONLINE


The building was once used by the Stasi, East Germany's dreaded secret police. But, more recently, it has served as a popular activity center for seniors in a high-rent neighborhood. When local authorities decided to shut it down and sell it, retirees adopted a classic Berlin tactic: squatting. And they're determined to win.

Germany's capital is famous for its squatting culture. Back in the 1980s, punks moved into disused buildings in what was then West Berlin. After the Wall fell, the movement spread to the eastern part of the city, where squatted buildings became a hallmark of the techno-fuelled counterculture of the 1990s.

OAS_RICH('Middle2'); But the city has definitely never seen squatters like the ones currently occupying a villa in the northeastern district of Pankow. A group of senior citizens has taken over a community center to stop the local municipality from closing it down -- and they're determined to stay until they get what they want.

The squatters, who are all in their 70s or 80s, have been sleeping in the building -- called "Stille Strasse" after the street on which it is located -- since last Friday. They take turns sleeping there on air mattresses and cots, with six or seven people staying there every night to stop local authorities from barring its entrance. Posters and banners reading "We are all staying" are on display outside.

by Fran (fran at eurotrib dot com) on Fri Jul 6th, 2012 at 01:28:50 PM EST
Liberal Conspiracy - Sunny Hundal - Yes, you should be angry about the Libor scandal. Here's why

It wasn't a conspiracy that no bankers went to prison after the 2008 crash; it was simply that their high-risk activity was almost entirely legal. But the lack of prosecutions also meant the anger kept bubbling and building like a pressure cooker.

People felt more cheated every year as bankers' bonuses increased while their paychecks decreased. So it shouldn't come as any surprise that a scandal most people don't really understand still generates palpable public anger.

But it is important to understand why the Libor scandal matters and how it affected ordinary people.



keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 01:30:01 PM EST
Liberal conspiracy - Jon Stone - Why printing money (QE) is actually killing UK's growth

Frances Coppola points out that a combination of Quantitative Easing, which involves the government buying back its debt, and austerity - which means the government is issuing less debt - is drastically restricting supply of these bonds (debt).

This contraction in the supply is causing a real shortage of safe assets for financial institutions to put their money into. This leads to a liquidity crisis because they don't want to lend to each other. It also means you get record low interest rates on government bonds as demand from these institutions for our debt hugely outstrips supply.

There's a weird irony here. According to the way neoliberalism tells us markets should work, this situation shouldn't really be happening.



keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 01:34:20 PM EST
Minsky's claim was that the post-WWII period was one of unprecedented prosperity in The West™ among other things because the private sector came out of WWII with massive holdings of "safe" public debt assets. In the US, it took at least 20 years for the banking sector to eat those holdings away, at which point a mild financial crisis promptly followed. The debt was actually never paid down: the economy outgrew it.

In other words, we're ruled by idiots.

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 Fri Jul 6th, 2012 at 02:20:31 PM EST
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We are being ruled by idiots but the post WW 2 prosperity was the outcome of many inter-related factors, not "just" the money/finance feedback loop.

Ever since I learnt about confirmation bias I've started seeing it everywhere
by ATinNM on Fri Jul 6th, 2012 at 02:38:52 PM EST
[ Parent ]
prosperity in The WestTM among other things because


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 Fri Jul 6th, 2012 at 02:49:09 PM EST
[ Parent ]
Can you clarify something I never understood from reading...

According to Minsky, who was holding the safe public debt assets?
(In the main.)
Private banks? or Corporations?

by Metatone (metatone [a|t] gmail (dot) com) on Fri Jul 6th, 2012 at 04:25:49 PM EST
[ Parent ]
I think in Stabiliing an Unstable Economy he was only writing about banks not nonfinancial corporations. But in any case, he writes
At the end of WWII the commercial banks were replete with government securities. The government-security market was the primary position-making market, and the Treasury bill was the primary position-making instrument. Banks that had excess cash would buy Treasury bills, and banks that had cash (reserve deposit) deficiencies would sell Treasury bills. These sales and purchases would go through either independent dealers or dealer departments in large banks
Remember that Glass-Steagall was in force and only recently enacted, and the memory of the Depression was fresh. This means there was separation between Commercial Banking and Investment Banking. Outfits such as Solomon Brothers or Lehman Brothers specialised in the bond market.

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 Sat Jul 7th, 2012 at 04:20:21 AM EST
[ Parent ]

No, its not the Higgs-Boson. More here

by Fran (fran at eurotrib dot com) on Fri Jul 6th, 2012 at 01:54:16 PM EST
Ah, but is the cat alive or dead ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 02:14:13 PM EST
[ Parent ]
There's no way to tell from the image that it's not one of these.

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 Fri Jul 6th, 2012 at 02:17:11 PM EST
[ Parent ]
I was going to guess a solar flare. Which there are a lot of right about now...

The most powerful solar flare of the summer so far erupted from the sun Friday (July 6), the latest in a string of powerful storms this week from our nearest star, space weather experts say.

The sun storm occurred just after 7 p.m. EDT (2300 GMT) and registered as a class X1.1 solar flare -- one of the strongest types of solar flares possible, according to the U.S. Space Weather Prediction Center  (SWPC) run by NOAA and the National Weather Service.

http://www.space.com/16478-sun-erupts-major-solar-flare-x-class.html

by asdf on Fri Jul 6th, 2012 at 11:09:12 PM EST
[ Parent ]
A lost generation? What about those aged over 50? | ToUChstone blog: A public policy blog from the TUC

Last week, the release of the NEET stats (Not in Education, Employment or Training) for young people and a key note speech from the Deputy Prime Minster made sure that once again the focus of attention was on young people in the labour market. This is nothing new. An endless number of commentators lament about the prospects of a lost generation of young people and push Government to do more and more to help young people in our labour market find work. On its part, Government has focussed nearly all of its effort on young people through the Youth Contract and extensions announced this week.

By implication, that would suggest that unemployed people of all other ages are not a concern: they will find work quickly, not suffer from experiences of `scarring' from unemployment and do not need too much support from the state until they have hit the Work Programme from around 12 months of unemployment.

Unfortunately, Policy Exchange published a report last week outlining that this was very far from reality.

In particular, we found that while employment has been rising for the older (50 plus) workforce, those who find themselves out of work find it extremely hard to get back into work. Long-term unemployment is more likely for the over 50s than the under 25s (less than 40% of the over 50s who were unemployed in January 2010 were in work a year later, compared to nearly 65% of the under 25s); and our research shows that wage scarring (the pay penalty that results from experiencing spells of unemployment between jobs) is much higher for the over 50s than any other age group.

by Metatone (metatone [a|t] gmail (dot) com) on Fri Jul 6th, 2012 at 02:07:25 PM EST
tell me about it

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 6th, 2012 at 02:11:41 PM EST
[ Parent ]
First World labour is in direct competition with the wages paid in, e.g., China where the cost of labour is free (prisoners) or at a level, e.g., £300/month, that doesn't meet the Cost of Living, putting it mildly.

To bring First World wage rates down to meet Third World wage rates the Cost of Living in the First World must fall.  Eliding a long exposition, when that happens the First World's FIRE sector goes foom.

In a world 'hooked' on mass-production necessary corollary to finish the feedback loop is mass-consumption and that can't happen at Third World wage levels.  So the factories dependent on mass consumption go foom too.

Without a financial system or factories we're not going anywhere since the population of entire frickin' planet are all, essentially, standing on each others' feet.

(Tra-la)

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

by ATinNM on Fri Jul 6th, 2012 at 02:35:18 PM EST
[ Parent ]
the population of entire frickin' planet are all, essentially, standing on each others' feet.

True. But a very small percentage of the population has enormous amount of wealth in both physical and financial assets. So the name of the game is maintaining the appearance of those financial assets retaining their value. This is especially interesting now that the real estate portion of those assets is in trouble in many countries. Looks like the game will go on until it experiences an uncontrollable collapse. Even talking about actually managing that decline is  taboo.

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 Fri Jul 6th, 2012 at 11:19:16 PM EST
[ Parent ]
Agree.

One reason - he opines - Merkel, GMBH didn't want Greece, Spain, & etc. buying back their bonds on the open market is it would have forced German banks to Mark-to-Market, instead of Mark-to-Fantasy, which would have destroyed their Balance Sheets.

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

by ATinNM on Sat Jul 7th, 2012 at 12:39:49 AM EST
[ Parent ]


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