Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.

European Salon de News, Discussion et Klatsch - 8-9 July

by afew Sat Jul 7th, 2012 at 04:00:16 PM EST

 A Daily Review Of International Online Media 


Europe on one of these dates in history:

1357 - Emperor Charles IV assists in laying the foundation stone of Charles Bridge in Prague.

More here and here

 The European Salon is a daily selection of news items to which you are invited to contribute. Post links to news stories that interest you, or just your comments. Come in and join us!


The Salon has different rooms or sections for your enjoyment. If you would like to join the discussion, then to add a link or comment to a topic or section, please click on "Reply to this" in one of the following sections:

  • EUROPE - the public affairs of the European continent and the EU.
  • ECONOMY & FINANCE - with a focus on the economic crisis.
  • WORLD - geopolitics, the affairs of nations and supranational entities.
  • LIVING OFF THE PLANET - what we extract from the planet and the effect we have: environment, energy, agriculture, food...
  • LIVING ON THE PLANET - how humans live together: society, culture, history, science and technology, information...
  • PEOPLE AND KLATSCH - stories about people and of course also for gossipy items. But it's also there for open discussion at any time.
  • Please do NOT click on "Post a Comment", as this will put the link or your comment out of context at the bottom of the page.

Display:
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 08:55:44 AM EST
European democracy's victory in a treaty's defeat | New Europe

STRASBOURG - In an era when effective global cooperation seems to be in short supply, the failure to approve a major international treaty would hardly seem to be cause for celebration. But the European Parliament's rejection of the Anti-Counterfeiting Trade Agreement (ACTA) is a milestone for European democracy. Rarely has a debate on an international treaty been so intense and engaged so many people across Europe and beyond.

ACTA, negotiated by a group of industrialized countries to fight counterfeiting and enforce intellectual-property rights, provoked widespread criticism from civil-society organizations for the lack of transparency in the process used to formulate it. In the European Parliament, we tried to redress these shortcomings. Over the last four months, we held countless meetings, hearings, workshops, and online conversations with civil-society representatives and all of the concerned parties, to make sure that all opinions were properly heard.

The massive mobilization on this issue culminated in a petition addressed to the European Parliament signed by more than 2.8 million citizens. Their engagement shows that a truly European public opinion, transcending national borders, is alive and well. I personally have learned a lot from this thorough, open-minded, and respectful debate - and took part in it both online and off.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 11:41:51 AM EST
[ Parent ]
Romanian MPs have voted: President Traian Basescu impeached - Top News - HotNews.ro
A majority of Romanian MPs voted on Friday evening in favor of the impeachment of President Traian Basescu, at the end of a blitz series of procedures which the opponents of the governing alliance, many independent observers and EU voices described as breaching the rule of law and questioning the independence of Romanian justice and balance of power. Basescu now has to face a referendum in which - according to rules newly voted by the Parliament - a majority of active voters decides his dismissal of President.

  • UPDATE A referendum where Romanian voters will be asked if they agree with the dismissal of President Traian Basescu will be organized on July 29, according to a proposed bill on the organization of the referendum, announced in the Parliament today.
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 11:43:39 AM EST
[ Parent ]
Romania's parliament removes president | European Voice

Băsescu now faces a referendum on his removal within 30 days. Until then, Crin Antonescu, the speaker of the Senate and a close associate of Prime Minister Victor Ponta, will lead the country.  

(...) The power struggle between Ponta, who faces re-election in a poll to be held in November or December, and Băsescu has paralysed Romania's political life over the past few weeks. Ponta has taken several steps that are seen by his opponents as illegal or illegitimate.

The government has dismissed the speakers of the parliament's two chambers, who are next in line to succeed the president, paving the way for Antonescu to take over as interim president. 

The government also changed, through an emergency decree, the rules on an impeachment referendum, making removal easier, and curbed the power of the constitutional court to stop the removal procedure.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 11:47:01 AM EST
[ Parent ]
IPS - `Reforms' Legacy Rocks Romania Again | Inter Press Service

WARSAW, Jul 7 2012 (IPS) - Romanian President Traian Basescu is close to being impeached after the Parliament suspended him Friday. The political crisis, however, distracts from citizens' calls for a more responsive political class and a halt to declining standards of living.

Traian Basescu, originating from the centre-right Democratic Liberal Party (PDL), has been president since 2004 and is currently serving his second five-year mandate. He survived an earlier impeachment attempt in 2007: after the parliament suspended him, a referendum that went in his favour helped him keep power. But popular support for Basescu has dramatically decreased since.

Apart from the usual erosion of support for any politician in power, Basescu has lost sympathy on account of being the main proponent of austerity measures during the economic crisis, which in Romania were some of the harshest in Europe. State salaries were cut by 25 percent, most social benefits were slashed, and taxes increased to keep within budget deficit requirements associated with an IMF-EU loan of 20 billion euros contracted in 2009.

In January this year, Bucharest and other major cities saw unprecedented protests attended daily by thousands calling primarily for better political representation for citizens, and protesting declining standards of living. While the entire Romanian political class was a target of the January protesters, Basescu was particularly criticised for his perceived "authoritarianism": the PDL government he appointed and kept a close grip on sought to pass important measures without parliamentary debate, including the healthcare privatisation law that sparked the January protests.

Basescu's alleged authoritarianism and overstepping of his constitutional attributions has been invoked by the parliament as the reason for his impeachment both now and five years ago.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:18:50 PM EST
[ Parent ]
No mention of this by the BBC.

There was a link buried in the Europe section, but It now links back to - er - the main Europe section.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Sun Jul 8th, 2012 at 02:45:55 AM EST
[ Parent ]
EU divided over single liberalised railway system | EurActiv

The European Parliament has moved a step closer towards establishing a single, liberalised European rail network after a round of voting on the proposed competition rules.

The new rules aim to boost the supply of international freight and passenger services and to improve their quality, clarify competition rules for rail transport firms and rail infrastructure managers while establishing independent regulators to oversee the network.

The EU has also proposed price incentives to modernise trains and expand the network and encourage the development of quieter and safer trains, said the Parliament statement accompanying the proposed revisions to the single European railway directive.

"It took us two years of difficult negotiations ... to guarantee better competition and lay solid foundations for infrastructure funding," Debora Serracchiani (Socialists and Democrats group, Italy), an MEP in charge of compiling the report, said in a statement after voting took place in Strasbourg on 3 July.

"I consider that the unbundling of rail operators and undertakings is necessary, but we reached a good compromise on the monitoring of financial flows," she said.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 11:57:13 AM EST
[ Parent ]
BBC News - Russia flash floods: 100 killed in Krasnodar region

Flash floods caused by torrential rain have swept the southern Russian Krasnodar region, killing more than 100 people, officials say.

The floods, the worst there in living memory struck at night, reportedly without warning.

Emergency teams have been sent from Moscow by plane and helicopter. TV pictures showed people scrambling onto their rooftops to escape.

At least 92 people died around the worst-hit town of Krymsk.

Crude oil shipments from the Black Sea port of Novorossiysk have suspended.

Russian TV showed thousands of houses in the region nearly completely submerged.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:04:01 PM EST
[ Parent ]
Russian Floods' Survivors Blame Authorities As Death Toll Tops 100 | Russia | RIA Novosti

Residents of the southern Russia's city of Krymsk, the most affected by Saturday's severe floods, blamed authorities for opening reservoirs what as they say could have caused a sudden wave of water that had swept the city.

"Reservoirs in Krymsk have been opened at night. No one had warned the people about it. A half of the city has been flooded, a lot of people have been killed," Bogdan Tolchek, Krymsk's resident, wrote in his blog.

According to the latest information, Russia's worst flood in decades killed at least 103 people and injured 91 in Krasnodar region with the majority of the victims died in the town of Krymsk, the Interior Ministry said.

Irina Kizilbasheva, a journalist from the local TV channel told the on-line news website Gazeta.ru that there was a powerful stream of water that had swept Krymsk overnight.


"People are distressed, they say that no one had warned them about the flood. We have found several streets where people's corpses were lying on the ground..." Kizilbasheva said.

The regional authorities however called the people's claims "a complete nonsense."

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:05:50 PM EST
[ Parent ]
Mail on sunday - Ed Miliband reveals all about his vision for more big banks, burying the hatchet with his brother and why death scares him

Ed Miliband follows the blair path of announcing policy in tabloids ideologically opposed to him, as if this will somehow win their favour. I hope the image thing works, that too is a link right back to the Mail, who may not like it.

Tomorrow, he will swap rhetoric for strategy by demanding that the high street banks sell off 1,000 local branches and that the big five banks become seven. He wants to force them to help small businesses and to stop bamboozling the public with jargon and dangerous products. `Banking used to be a term of endearment. John Major was a banker. It wasn't an insult, it was a compliment,' he says.

His speech will set out his plan for putting the banks in order. He is furious at their arrogance and extravagance: `Look at Bob Diamond, a  22 million quid pay-off, £120 million over the last few years. You think "Agh!". That is totally out of whack.'

And he is hoping to capture the public anger in the same way he  did when he was the first political leader publicly to call Rupert Murdoch's corrupt News Of The World to account.

http://i.dailymail.co.uk/i/pix/2012/07/07/article-0-13F818A0000005DC-264_634x334.jpg

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 06:13:56 AM EST
[ Parent ]
David Davis, who is a Tory, was on the early morning politics show here and he said that Vince Cable nad he had already suggested similar things and so it seems as if there is cross party support to move forward with legislation quickly

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 06:15:18 AM EST
[ Parent ]
It's small beer. Why would seven banks be any better than five?

The issue is more that retail banking, infrastructure funding, and casino banking should all be different, and run completely independently.

Improved consumer protecion for loans and credit cards would be a good thing too. Is there a good reason for any bank to be charging >20% interest on any loan?

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 9th, 2012 at 03:39:22 AM EST
[ Parent ]
When I started reading I thought it was arguing for breaking up the five big banks into thousands, and that would have been radical. Seven? That is just tinkering.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
by A swedish kind of death on Mon Jul 9th, 2012 at 04:46:29 AM EST
[ Parent ]
Apparently it has been estimated that economies of scale end when a bank has a balance sheet of about 50 billion.

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 Mon Jul 9th, 2012 at 04:52:59 AM EST
[ Parent ]
"Is there a good reason for any bank to be charging >20% interest on any loan? "

Actually, it's the only way to make a small consumption loan viable (maybe not >20%, but certainly >15%). The operational costs associated with setting it up are significant and on a very small sum, you need high interests to cover them.

We might argue then that the loan should not even happen. Well, possibly, but I can imagine situations where I don't have the money right now, and find something unique that I won't be able to buy next month (or it will be much more expensive), and then I'd be quite happy to pay a month or two of punitive interests -it'll stay quite reasonable if it's very short term.

Now, you might argue that there is no possible way of  allowing that mutually beneficial transaction without having major societal drawbacks. It may be so, but it is not as obvious as it would seem just looking at the interest rate.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Mon Jul 9th, 2012 at 10:00:27 AM EST
[ Parent ]
A major problem with many financial instruments is that the people who could use them safely have very little intersection with the people who are likely to need them.

Couple that with a political environment where it's easy to make "regulation" into a bad word and you have a potentially explosive situation.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Mon Jul 9th, 2012 at 10:02:32 AM EST
[ Parent ]
Actually, it's the only way to make a small consumption loan viable (maybe not >20%, but certainly >15%). The operational costs associated with setting it up are significant and on a very small sum, you need high interests to cover them.
The question is why it is preferred to structure as a high interest rate what is effectively a fee.

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 Mon Jul 9th, 2012 at 10:25:02 AM EST
[ Parent ]
What would you consider a small consumption loan?

What are the operating costs and what percentage of the loan price (or other relevant value) are they likely to be in practice?

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 9th, 2012 at 11:08:36 AM EST
[ Parent ]
Let's put it this way. If you buy groceries (does that count as a small consumption loan?) on your credit card and pay it down in full each month, you pay no interest charges. Otherwise you may be charged up to 2% a month (25% a year) for rolling over balances.

Consumption loans are generally much cheaper than credit cards, though.

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 Mon Jul 9th, 2012 at 11:32:07 AM EST
[ Parent ]
"What would you consider a small consumption loan? "

Well, typically they would be in the range of a few hundred euros to a couple of thousands. Beyond that, you would have amortised rather than revolving credits (the interest rates are much lower).

Indeed, it could be turned into a fee -though you will always need to have a relatively high rate as this is not a loan with a collateral, so risk will always be much higher than in, say, a mortgage.

Operating costs include your call centres, credit approval (which involve risk assessment), marketing of course, payment recovery, administrative work (there is quite a lot of paperwork)...

How it will be organised will greatly depend on the country's regulator. I am familiar with the operations in France (having worked on several projects with two of the main actors), which is amongst the more regulated countries. Still, the idea of raising the initial fee and lowering interest rates could be explored.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Mon Jul 9th, 2012 at 11:53:40 AM EST
[ Parent ]
Still, the idea of raising the initial fee and lowering interest rates could be explored.

On the other hand, if you need a loan it's because you lack liquidity. In net terms, there's no point demanding a fee in exchange for a large cash loan. But this is analogous to the situation where you borrow enough on a mortgage not only to buy the property but also to pay fees, taxes, etc, rather than needing a down payment to be able to borrow the rest. At some level you're better off retaining some cash in hand and taking a larger loan than spending all your savings and borrowing less. But, of course, the larger loan will cost you more in interest in the long run. So you have to balance liquidity against interest costs on the part of the borrower, and various estimates of solvency on the part of the lender.

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 Mon Jul 9th, 2012 at 12:18:10 PM EST
[ Parent ]
Michael Hudson: Lat[vi]a No Austerity Success (extended) (June 29, 2012)
Latvia's policymakers in the main are neither saints nor sadists.  Indeed, some genuinely care about the country's future. Their Prime Minister leading the austerity charge is by all accounts a paragon of integrity.  Unfortunately, he has come under the policy counsel of Anders Aslund, now seeking to salvage his place in history given he was one of the chief proponents of the failed shock therapy in 1990's Russia.

Too many in Latvia, however, take a view of the poor and of the country's speculators that would comfortably fit in the pages of Ayn Rand's Atlas Shrugged.  This is especially true of Central Bank, which has dominated economic policy since Latvia's independence in 1991. For Latvia's elite, the internal devaluation and austerity program have become something of a vanity project.  Coming of age during the 1980s when the USSR was crumbling and the US neoliberal model ascendant, they fully internalized market fundamentalism as a rigid dogma to advance liberation from the Soviet occupation.  The chief criterion for its selection seems to be it was the model that looked most different from Soviet policy. To see their austerity model heralded by the IMF and ECB today is seen as vindication of their worldview, and repudiation of the putdowns heaped on them by chauvinistic occupiers in the past.

Elites aside, many emigrated.  After these protests subsided, Latvians resigned themselves to the situation and left. Demographers estimate that 200,000 have departed the past decade - roughly 10 per cent of the population - at an accelerating rate that reflects the austerity being inflicted. Latvian demographers estimate that at least 200,000 have left Latvia the past decade, Moreover, birth rates declined from already low numbers.  If a similar percent left the US, some 30 million would exit.  Where would they go? Mexico?  Surely, this model cannot be reproduced in any sizeable country.



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 Sun Jul 8th, 2012 at 08:55:07 AM EST
[ Parent ]
Latvia and the Romney Record - Paul Krugman - NYTimes.com

Which brings us to Latvia, where unemployment, though still very high, has come down. But this has a lot to do with a huge fall in the labor force, driven to an important extent by emigration. From Eurostat:

Again, nothing wrong with labor mobility -- but if Latvia is supposed to be a role model, somehow having all of Europe move to someplace else in Europe doesn't quite seem like a sustainable proposition ...



Europeans think a hundred miles is a long way. Americans think a hundred years is a long time.
by Bernard on Sun Jul 8th, 2012 at 12:37:48 PM EST
[ Parent ]
Eurointelligence Daily Briefing: Now we know what an ESM capital injection means: states must still guarantee it
Reuters quotes an unnamed official as saying that there was a misconception about the notion of equity injections: states remain the ultimate guarantors; if this is correct, the European Council would have misrepresented one of its main conclusions two weeks ago; on Friday, Spanish yields rose above 7%, with spreads now at over 5.6%; the euro was under $1.23 this morning; Monti is asking for a faster implementation of EU bailout funds; German president criticizes Merkel for not explaining the stakes and consequences of the euro rescue; Schäuble and Moscovici will split the eurogroup chairmanship, Der Spiegel reports; Italian recession is deepening, as Italian cut home living and clothes expenditures; Monti attacks Confidustria for driving up the spreads; Troika says Greece its off course on 210 targets, and withholds cash until September; Greece may run out of money during the summer; Portugal's constitutional court rules some austerity measures to be unconstitutional; ECB is preparing counter-proposal to Commission plan on bank supervision; Asmussen says EU bank supervisor in place in 2013; Coeure says no more ECB bond purchases; Merkel ally Von der Leyen calls Eurobonds ,,an option"; Mark Schieritz applauds the "wise men's" special report; Wolfgang Munchau, meanwhile, says that there will be no crisis resolution.


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 Mon Jul 9th, 2012 at 03:17:46 AM EST
[ Parent ]
This is probably the most outrageous eurozone story we have read in a long time. Reuters quotes an unnamed official saying that the ESM will not inject proper capital into banks after [all]. The member state will still have to guarantee the money, and thus remains the ultimate backstop. That may sound technical. But it means that whatever the ESM injects, it is not capital, since the ultimate risk remains with the member state. After all, the idea of direct ESM capital injections is to sever the link between banks and their sovereigns.

Reuters quotes a senior official as saying the following: "There is some degree of mystification going on here ... in the broader public who think that under current rules the ESM could all of a sudden end up owning Bankia with the full risk of Bankia on the balance sheet of the ESM. This is very much not the case."

(It is preposterous to argue that the fault lies with the broader public as he suggests. It was a deliberate misrepresentation of a policy by the European Council. If this official is right, it means that the ESM will not ever inject capital into the banks. Now it all makes sense why we don't need a treaty change. If you don't change the policy, you don't need to change the treaty.)



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 Mon Jul 9th, 2012 at 03:19:37 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jul 9th, 2012 at 03:21:00 AM EST
[ Parent ]
...plus c'est le déluge.

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 Mon Jul 9th, 2012 at 04:11:36 AM EST
[ Parent ]
My reaction to the Council conclusions two weeks ago was
See EURO AREA SUMMIT STATEMENT (PDF, 29 June 2012)
We affirm that it is imperative to break the vicious circle between banks and sovereigns.
The rest is a mixed bag.
So, the first sentence of the Council Conclusions was at best a diversion, and all that's left is the mixed bag.

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 Mon Jul 9th, 2012 at 03:21:59 AM EST
[ Parent ]
ECB is preparing counter-proposal to Commission plan on bank supervision

The ECB is drawing up a counter-proposal to the Commission plan on bank supervision, Der Spiegel reports. The Governing Council last Thursday decided to present in September a the latest the central banks own proposal because the central bankers are horrified by the preparations undertaken in Brussels. At the Commission Michel Barnier, Joaquín Almunia and Olli Rehn have started to work and he issue and according to first versions of their proposal the main supervisory task would be with the EBA, the largely discredited European Banking Authority and the ECB would only receive certain specific tasks. But as of now there is also disagreement within the Governing Council with Christian Noyer of France arguing the ECB should supervise all banks within the eurozone and Austria's Ewald Nowotny saying it should only be a very limited number of cross border systemic banks.

Okay, so Christian Noyer gets it.

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 Mon Jul 9th, 2012 at 03:52:33 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 08:56:07 AM EST
The great global bargain hunt | European Voice
China is using its foreign reserves to further its geopolitical strategy, not to buttress the international system that has enabled its boom.

(...) For example, although China has done little to bolster the Greek government's balance-sheet, its active approach to the crisis has been conspicuous. Prime Minister Wen Jiabao visited Greece in October 2010 and agreed to strengthen co-operation between China and Greece during a meeting with then-prime minister George Papandreou - timely support that the weakened Greek government was delighted to receive.

But the form of Chinese support for Greece will likely benefit China far more than Greece in the long term. Indeed, in an editorial published on 15 June, China Daily described Greece as a "gateway" for China into Europe. Already, the China Ocean Shipping Company (COSCO) has obtained a 35-year lease to operate the second pier at the port of Piraeus, one of the busiest in the world, for €3.5bn, and has purchased a truck-loading facility and packaging centre in the Piraeus suburbs. The company has also expressed its intention to acquire 23% of Piraeus Port Authority, and is seeking to lease or acquire ports on the island of Crete.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 11:50:16 AM EST
[ Parent ]
Fortunately I'll be dead before they jackhammer the face of Mao into Half Dome.

http://www.youtube.com/watch?v=_wp4O7v5320
by THE Twank (yatta blah blah @ blah.com) on Sun Jul 8th, 2012 at 06:46:24 AM EST
[ Parent ]
by asdf on Sun Jul 8th, 2012 at 10:46:58 PM EST
[ Parent ]
China Must Prevent Rebound in Property Prices, Wen Says - Bloomberg

China must "unswervingly" continue its property controls and prevent prices from rebounding, Premier Wen Jiabao said yesterday, after the central bank cut interest rates and triggered a surge in property stocks.

Local governments that introduced or covered up a loosening of curbs on residential real-estate must be stopped, Wen said during a visit to Changzhou city in eastern Jiangsu province, according to the official Xinhua News Agency. Restricting speculative demand and investment in property must be made a long-term policy, he said.

Wen's comments underscore the government's determination to maintain restrictions on housing purchases even as it cuts interest rates and boosts infrastructure spending to reverse a slowdown in the world's second-biggest economy.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:30:54 PM EST
[ Parent ]
They never just come out and say that a big part of the problem here is that much of local governments revenue comes from land sales, thus they have an incentive to inflate property prices.

Few have been willing to say as much, but there is strong evidence that China has already entered a recession.  The signs are there.

1. Local governments have put on a fire sale for non-land assets to keep budgets up, but it's not helping.

  1. More "mass incidents" are happening in Guangdong as the export economy goes belly up and factory owners have done runners, leaving little more than a note that the company closed in some cases.

  2. A number of wealth Chinese have already, or are planning, to exit the country with their assets if things continue down the current path.

  3. Power consumption is way down, taking global coal prices with it.  If China is no longer there to take massive quantities of commodities, then their prices will tank.

  4. Pork prices have fallen below the break-even point, and a number of Chinese have decided to simply grow their own food to avoid contaminated produce.


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 Sat Jul 7th, 2012 at 04:14:47 PM EST
[ Parent ]
Gilts Gain for First Time in Five Weeks as BOE Boosts Purchases - Bloomberg

U.K. government bonds rose, snapping a four-week decline, as the Bank of England voted to expand its asset-purchase program by 50 billion pounds ($77.6 billion) to help contain borrowing costs.

Ten-year yields dropped to the lowest in a month as signs the European debt crisis is worsening boosted demand for the relative safety of U.K. securities. Ten-year gilts outperformed 30-year debt as the central bank left its purchase categories unchanged from its previous round of buying. The pound climbed to the strongest since 2008 against the euro after the European Central Bank refrained from committing to help bring down bond yields in Spain and Italy.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:31:50 PM EST
[ Parent ]
Draghi Move to Zero Rates Fuels Talk of QE in ECB Armory - Bloomberg

The European Central Bank's step into the world of zero interest rates is fueling speculation it may eventually be forced to follow the Federal Reserve and the Bank of England with large-scale asset purchases.

The ECB yesterday reduced its benchmark rate to a record low of 0.75 percent and took its deposit rate to zero, with President Mario Draghi saying the cuts may have only a "muted" economic impact. While deflecting questions about further measures such as quantitative easing, Draghi said "there is no feeling that we are running short of policy options" and "we still have all our artillery ready to contain inflationary risks" in either direction.

"They have practically exhausted their conventional armory," said Julian Callow, chief European economist at Barclay Plc (BARC) in London. "Cutting the deposit rate to zero has practically brought them to the door of QE, even though that is not what they may have intended."

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:33:23 PM EST
[ Parent ]
"we still have all our artillery ready to contain inflationary risks" in either direction.

? What is the intent here? For the ECB 'inflation' is always and forever the enemy. Is Draghi using 'either direction' to begin including deflation in the phobia relentlessly built up around 'inflation'? And will the fuses on the shells fired by their 'artillery' work if they are pointed in the opposite direction?

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 Sun Jul 8th, 2012 at 11:50:34 AM EST
[ Parent ]
Interfluidity blog: What is a bank loan? (July 7th, 2012)
When a bank makes a loan, does it create money "from thin air"? Are banks merely intermediaries, where "if people are borrowing, other people must be lending"? I consider these sorts of questions less and less helpful. Let's just understand what a bank loan is, in terms of real resources and risk.

...

... in fact, the seller would not accept my debt in exchange for the goods and services she supplies. If I wrote her a promise to perform for her some service of equal value in the future (which might include surrendering crisp dollar bills), she would not accept that promise as a means of payment. I circumvent her fear by writing to the bank precisely the promise that the vendor would not accept and having the bank "wrap" my promise beneath its own. The bank's job is not to "lend" anything in any meaningful sense. The bank is just a bunch of assholes with spreadsheets, it has nothing real that anyone wants to borrow. The bank's role is to transform questionable promises into sound promises. It is a kind of adapter of promises, or alternatively, a guarantor.

...

but one thing should be absolutely clear. Under existing institutions, there is little coincidence in the roles of creditor from a real resource perspective and creditor from a risk perspective. Our banks are machines that permit vendors to surrender real resources in exchange for promises the risks of which they do not bear. The risks associated with those promises do not go away. They may be mitigated to some degree by diversification and pooling. They might be modest, in the counterfactual that banks were devoted to careful credit analysis. But these risks must be borne by someone. The function and (I would argue) purpose of a banking system is to sever the socially useful practice of production-and-exchange-for-promises from the individually costly requirement of assuming the risk that promises will be broken, in order to encourage the former. The essence of modern banking is a redistribution of costs and risks away from people who disproportionately surrender real resources in exchange for promises. Under the most positive spin, modern banking systems engineer an opaque subsidy to those who produce and surrender more real resources than they acquire and consume by externalizing and ultimately socializing the costs and risks of holding questionable claims.

...

Banks are not financial intermediaries in any simple sense of the word. When they "make a loan", they serve as guarantors, not creditors. The borrower does not meaningfully become a debtor until the loan is spent. Only then do creditors emerge, but the role of creditor is bifurcated. The people to whom resources are owed are not the same as the people bearing the risk of nonperformance. The question of who actually bears the risk of nonperformance has grown difficult to answer, and concomitantly, incentives among bank decisionmakers for caution in creating that risk have weakened, especially relative to the benefits of cutting themselves in on some share of borrowers' protected expenditures. This bifurcation of the role of creditor also explains why creditors as a political class are relatively indifferent to the upside of a good economy but extremely intolerant of inflation. A good economy means better higher values and better performance on outstanding loans, but creditors who are owed resources but are absolved from risk do not care about the performance of the loans that have become their assets. Those fluctuations, like fluctuations of the stock market, are somebody else's problem or somebody else's gain. Protected claimants, people who are owed money by banks or the state (which is itself a bank), can only lose via inflation. They understandably work within the political system to oppose inflation, which would force them to bear some of the cost of the bad loans whose misexpenditures were, in aggregate, the source of much of their wealth.



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 Sun Jul 8th, 2012 at 04:21:04 AM EST
[ Parent ]
Interfluidity
The bank's job is not to "lend" anything in any meaningful sense. The bank is just a bunch of assholes with spreadsheets, it has nothing real that anyone wants to borrow. The bank's role is to transform questionable promises into sound promises. It is a kind of adapter of promises, or alternatively, a guarantor.
L. Randall Wray: KRUGMAN VERSUS MINSKY: Who Should You Bank On When It Comes to Banking? (April 2nd, 2012)
The banker holds the key--he is the "ephor of capitalism", as Minsky's original dissertation advisor, Josef Schumpeter, put it--because not only do entrepreneurs have to be sufficiently optimistic to invest, they must also find a banker willing to advance the wage bill to produce investment output.

By financing the wage bill of workers in the investment goods sector, commercial banks are promoting the capital development of the economy even if they do not actually provide finance for position-taking in investment goods. Hence, we can separate the issue of producing capital goods from ownership of them.

For Schumpeter, and for Minsky, the "ephor of capitalism" breaks the simple circuit of production and consumption of wage goods--in which banks simply finance production of consumer goods by workers whose consumption exactly exhausts the wage bill required to produce them. In other words, the ephor allows generation of profits by financing spending of those not directly involved in producing consumption goods.

Which is why it's really unfortunate that interfluidity can write, without anyone batting an eye:
The risks associated with those promises do not go away. They may be mitigated to some degree by diversification and pooling. They might be modest, in the counterfactual that banks were devoted to careful credit analysis.
The fact is, if appears the financial sector is no longer acting as the ephor of capitalism, but exploiting its interstitial position for private gain.

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 Sun Jul 8th, 2012 at 08:46:06 AM EST
[ Parent ]
the financial sector is no longer acting as the ephor of capitalism, but exploiting its interstitial position for private gain.

But that is the point Steve Randy Waldman is making when he says:
The question of who actually bears the risk of nonperformance has grown difficult to answer, and concomitantly, incentives among bank decisionmakers for caution in creating that risk have weakened, especially relative to the benefits of cutting themselves in on some share of borrowers' protected expenditures. This bifurcation of the role of creditor also explains why creditors as a political class are relatively indifferent to the upside of a good economy but extremely intolerant of inflation. A good economy means better higher values and better performance on outstanding loans, but creditors who are owed resources but are absolved from risk do not care about the performance of the loans that have become their assets. Those fluctuations, like fluctuations of the stock market, are somebody else's problem or somebody else's gain. Protected claimants, people who are owed money by banks or the state (which is itself a bank), can only lose via inflation. They understandably work within the political system to oppose inflation, which would force them to bear some of the cost of the bad loans whose misexpenditures were, in aggregate, the source of much of their wealth.

I think he would agree with you that:
the financial sector is no longer acting as the ephor of capitalism, but exploiting its interstitial position for private gain.
 

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 Sun Jul 8th, 2012 at 12:09:26 PM EST
[ Parent ]
Not realy getting this point.

Smaller start-ups aren't usually funded by banks. Or if they are, the most an entrpreneur will get from a bank is some percentage of match funding which will be secured on an asset - usually a house.

The rest has to come from elsewhere. In practice that means various government funds and/or private speculative investors and/or rich family members.

Banks don't usually start offering easier terms until a business hs been up and running for a while and either needs short-term credit or longer term expansion capital.

I don't know enough about Jerome-level start-up investment. But I'd guess most projects have a similar mix of government and private funding, and someone like Jerome is basically the broker and salesperson who gets the interested parties around the same table and persuades them to put their cash in.

A bank might contribute to the funding, but won't usually stump up for all of it.

The idea that banks lend to keep the economy greased and growing is basically nonsense. Banks throw money around during booms and shut their purses during recessions. But the booms are created elsewhere. Banks respond to them rather than creating them.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 9th, 2012 at 04:02:37 AM EST
[ Parent ]
Well, there are a few effects here worth sorting out, at least from my current small business experience.

  1. Banks helped create the last boom by loose lending on property. Of course you can argue that someone else created the notion that "property prices are only going up" but in the UK at least a majority of booming was bank-funded property speculation.

  2. On the small business front, one key disappearance isn't about startup funding, but about growth funding. Since the banks have shut their purses, it's now much harder to grow a non-bubble business.

Private speculative investors are not interested in providing funding for slow organic growth.

As a result a lot of businesses are stuck, even the ones who can find customers, because they can't expand. One symptom of this in my area is that all the "startup-size" offices are full and demand is high, rents are rising. But offices 2 or 3 times that size sit empty and rents are falling (but not falling enough to be affordable.)

3) Miserly as the loans against the entrepreneur's house are, without them things get harder - particularly for making stuff, as opposed to fly by night software startups, which are the "lean startup" fashion of the moment. As a result, fewer interesting businesses are getting started at the moment.

Trickle down of finance from banks is an ugly theory - and there are much better ways to do it - but it is the picture of reality at the moment.

by Metatone (metatone [a|t] gmail (dot) com) on Mon Jul 9th, 2012 at 04:45:39 AM EST
[ Parent ]
All of which is true. But I was responding to the suggestion that banks advance any company's wage bill (they don't - although they may advance against capital expenses when times are good) or that as 'ephors of capitalism' they have some kind of executive role in steering the economy.

In the UK banks have had truck-loads of QE thrown at them, and they're still not lending.

In practice banks are more like headless chickens - or more generally, momentum investors. They will enhance the size of every bubble and contribute to making every recession and depression worse than it needs to be.

Banks are not capable of thinking strategically across the economy as a whole or of changing the direction of business cycles - even though for who-knows-what reasons they're accorded the respect they'd be due if they were.

They're not so much the ephors of capitalism as the privates.

But - these privates still have a malign influence on policy. While they can't set economic strategy in a useful way, they can set strategy in a short-term for-profit way by lobbying against regulation and democratic oversight and parroting the vocabulary and values of neo-liberalism.

What's missing is any sense of finance as a useful social service - which of course it could be, and has been (to some extent) in the past.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Jul 9th, 2012 at 06:40:12 AM EST
[ Parent ]
Metatone:
As a result a lot of businesses are stuck, even the ones who can find customers, because they can't expand. One symptom of this in my area is that all the "startup-size" offices are full and demand is high, rents are rising. But offices 2 or 3 times that size sit empty and rents are falling (but not falling enough to be affordable.)

I'll quote JakeS on why saving banks (even when done properly) is not enough.

JakeS:

Because the problem is not limited to the banks. Banks, households and industrial firms must all be solvent (at least on a sectoral basis), for your economy to work. Rights issues for the banks does not help unless you then put households and industrial firms through bankruptcy, which is not without costs of its own.

One of those costs is that bankruptcy proceedings will not necessarily be able to distinguish between a prudent firm (which should be restructured) and a Ponzi merchant (who should be liquidated) during a general industrial depression. A debt writedown will let the prudent firm off the hook, but the Ponzi merchant will still have to either cease his activities or go bankrupt soon enough.



A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
by A swedish kind of death on Mon Jul 9th, 2012 at 06:45:10 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 08:56:26 AM EST
Libyans hold historic vote amid tensions - Africa - Al Jazeera English

Tripoli, Libya - Polls have closed in Libya's capital, where voting in the country's first free national elections in more than four decades took place amid violence by federalist protesters who disrupted the vote in several districts.

Voting ended officially at 8pm (1800:GMT), but delays in starting has caused polling to continue in some other areas of the country.

While polling stations are closed in Tripoli, they are to remain open for at an additional hour in Benghazi.

In Ajdabiya and other places further from the capital, where voting did not start until the afternoon, voting will go on as late as 7am on Sunday. Voting in Brega has still not yet started.

Acts of sabotage, mostly in the east of the country, prevented 101 polling stations from opening on Saturday, the electoral commission said, although 94 per cent of stations managed to open.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:14:27 PM EST
[ Parent ]
US orders Iran to pay for 1983 Lebanon attack - Americas - Al Jazeera English

A US federal judge has ordered Iran to pay more than $813m in damages and interest to the families of 241 US soldiers killed in the 1983 bombing of a Marine barracks in Lebanon.

Judge Royce Lambeth wrote in a ruling this week that Tehran had to be "punished to the fullest extent legally possible"  for the bombing in Beirut on October 23, 1983, the deadliest ever against US soldiers.

"After this opinion, this court will have issued over $8.8bn in judgments against Iran as a result of the 1983 Beirut bombing," Lamberth wrote in the ruling, a copy of which was seen on Friday by the AFP news agency.

"Iran is racking up quite a bill from its sponsorship of terrorism," the Washington judge added, noting that "a number of other Beirut bombing cases remain pending, and their completion will surely increase this amount."

At least 241 American soldiers, including 220 Marines, were killed in the Lebanese capital Beirut when a truck packed with explosives rammed through barricades and detonated in front of the US barracks near the international airport.

The same day, in a co-ordinated attack, 58 French paratroopers were killed by a truck bomb at the French barracks in Beirut.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:15:04 PM EST
[ Parent ]
Ha, good luck with that.

I reckon Iran could probably get an equally good case for reparations for the US-sponsored attack by Saddam Hussain.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 05:13:34 AM EST
[ Parent ]
This is batshitinsane. Will US courts also award damages to every Vietcong or Iraqi soldier killed by US troops? How about the families of the victims of Iran Air flight 655? That was kind of direct terrorism in much more certain terms than the bombing of a military base in a foreign country under civil war? And why Iran? Hezbollah is sponsored by Iran but it is and was much more than an Iranian tool.

The road of excess leads to the palace of wisdom - William Blake
by talos (mihalis at gmail dot com) on Sun Jul 8th, 2012 at 07:46:27 PM EST
[ Parent ]
You are in serious need of a visit to indoctrination school. Next I suppose you will have a complaint about the DOD project to dig up bones from Korean War to "resolve" MIA cases.

About 8,000 American soldiers of the Korean War have been unaccounted for. Recovery of the dead has depended on the mood of the North Korean government and the status of diplomatic relations with the U.S. Recovery teams began to be permitted to enter the country in 1996. That permission was cut off in 2005 and then restored late last year; however, tensions over North Korea's attempted launch of a ballistic missile this year led the U.S. to again suspend recovery operations.

So far, about 87 soldiers have been identified and returned out of 229 sets of remains, according to the Department of Defense's Prisoner of War/Missing Persons Office.

Green's jaw and leg bone were among 69 bones found in 2005 at a secondary burial site. His identification took seven years, aided by dental records, improvements in DNA testing and samples from his surviving relatives.

http://www.denverpost.com/lacrosse/ci_20534081/korean-war-pows-remains-return-u-s-61

by asdf on Sun Jul 8th, 2012 at 10:56:04 PM EST
[ Parent ]
US designates Afghanistan as a 'major ally' - Central & South Asia - Al Jazeera English

Afghanistan will become a major non-NATO ally for the US, Hillary Clinton, the secretary of state, has said during a visit to Kabul.

The designation, which provides a long-term framework for security and defence co-operation, would give the war-torn country special privileges as the US prepares to pull its troops out in 2014, Clinton said on Saturday.

"We see this as a powerful symbol of our commitment to Afghanistan's future," Clinton said at a press conference after talks with President Hamid Karzai.

"This is the kind of relationship that we think will be especially beneficial as we do the transition."

The new status, which comes into effect immediately, makes it easier for a country to purchase and finance its acquisition of US defence equipment, along with other benefits.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:15:42 PM EST
[ Parent ]
Hillary's been smoking dat good shit again

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 05:14:10 AM EST
[ Parent ]
Replay of the Simla Manifesto. Sort of. But not really, because that came before the British invasion in 1839, not after the disaster... History doesn't repeat itself exactly, I guess...

http://www.afghanwiki.com/en/index.php?title=First_Anglo-Afghan_War

by asdf on Sun Jul 8th, 2012 at 11:01:45 PM EST
[ Parent ]
Syria's fighting spills into Lebanon, five killed | Reuters

(Reuters) - Syria's conflict spilled further into Lebanon on Saturday when mortar fire from President Bashar al-Assad's forces hit villages in the north, killing five people after rebels crossed the border to seek refuge, residents said.

Rebels fighting to unseat Assad have used north Lebanon as a base and his forces have at times bombed villages and even pursued insurgents over the border, threatening to stoke tension in Lebanon, whose sectarian rifts mirror those in Syria.

Residents of Lebanon's Wadi Khaled region said several mortar bombs hit farm buildings five to 20 km (3 to 12 miles) from the border at around 2 a.m. At midday villagers reported more explosions and said they heard gunfire close to the border.

In the village of al-Mahatta, a house was destroyed, killing a 16-year-old girl and wounding a two-year old and a four-year old, family members told Reuters. A 25-year-old woman and a man were killed in nearby villages, residents said.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:16:26 PM EST
[ Parent ]
Many dead in triple Pakistan drone strike - Central & South Asia - Al Jazeera English

At least 21 people have been killed in drone strikes in Pakistan's North Waziristan days after the South Asian country agreed to reopen the NATO supply routes into Afghanistan.

According to official sources, six missiles were fired from a US drone at a compound in Gharlamay village of Datta Khel town near the border with neighbouring Afghanistan.

Security officials identified the dead as "militants".

It was the first drone attack since Islamabad reached a deal with Washington to reopen land routes into Afghanistan after the US apologised for the deaths of 24 Pakistani soldiers in an air strike in November last year.

The initial strike on a house killed nine. Then three others were killed in a second attack when they drove to the site to recover dead bodies. And a third drone killed another three five minutes later, a senior security official in Peshawar told the AFP news agency.

A similar attack in the region on Sunday killed six.

Akbar Ahmed, former Pakistan ambassador to the UK, said: "It can't go against the will of the people and Pakistan is quite unanimous in rejecting the drone strikes on its territory."

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:26:17 PM EST
[ Parent ]
Got the money from the US for the reparations for the last lot ? Close the border again. Keep closing the border till they stop.

Money is the only language the US understands, closing the Khyber pass costs them money, lots of it. So, keep closing it till they behave.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 05:16:23 AM EST
[ Parent ]
When was the last time the US behaved? When we got booted out of Viet Nam?

http://www.youtube.com/watch?v=_wp4O7v5320
by THE Twank (yatta blah blah @ blah.com) on Sun Jul 8th, 2012 at 06:58:56 AM EST
[ Parent ]
IPS - Truckers Celebrate NATO Resumption | Inter Press Service

KARACHI, Jul 8 2012 (IPS) - "I'm happy that I will be resuming work soon," says Zarbistan Khan, who owns and drives a tanker that takes oil from the southern port city Karachi to Afghanistan. But the joy comes under the shadow of a Taliban threat to attack supply convoys.

"We will do our best to stop the NATO supply and will never allow someone to ship weapons for killing Muslims," Pakistani Taliban spokesman Ahsanullah Ahsan has declared.

Pakistan's roads are primarily used for sending oil and other supplies, not weapons. In 2007, the military was burning 575,000 gallons of fuel per day in Afghanistan, and 80 percent of this fuel came from Pakistani refineries. But this supply too is under threat.

"We don't have much confidence the government can provide us foolproof security," Akram Khan Durrani, chairman of the All Pakistan Oil Tankers Owners Association tells IPS sitting in the comfort of his airconditioned office in Karachi's Shireen Jinnah colony.


Idle oil tankers parked on the roadside in Karachi. Credit: Fahim Siddiqi/IPS.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:31:22 AM EST
[ Parent ]
Interesting perspective from the repairmen.

IPS - Truckers Celebrate NATO Resumption | Inter Press Service

Mechanic Abdul Ghaffar has already begun work. He and his four brothers are the only ones in the area who can repair a Chinese-made Mercedes engine. "We used to earn between Rs 5,000 to Rs 10,000 (53 to 106 dollars) comfortably on a given day before the NATO blockade, and we worked from 9am to 9pm." In the last seven months Ghaffar says they were lucky if they could take home that much in a week.

Mirbaz Khan is a welder working out of a huge steel trunk chained to a wall outside Ghaffar's shop. "It's all about money," he says, wiping his oil-stained hands on a rag. "The more they (Taliban) damage the vehicles, the more work there is for me."



A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
by A swedish kind of death on Sun Jul 8th, 2012 at 08:46:15 AM EST
[ Parent ]
The Onion Guardian
Mickey Mouse and Winnie the Pooh took the stage in North Korea during a concert for new leader Kim Jong-un in an unusual performance featuring Disney characters.

Performers dressed as some of America's best-known cartoon characters pranced as footage from Snow White, Dumbo, Beauty and the Beast and other popular Disney films played on a huge backdrop, according to still photos shown on state TV on Saturday.

The inclusion of characters popular in the west - particularly from the US, North Korea's wartime enemy - is a notable change in direction for performance arts in Pyongyang.

Are they paying Disney royalties? If not, what does the U.S. plan to do?
by gk (g k quattro due due sette "at" gmail.com) on Sun Jul 8th, 2012 at 08:16:47 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 08:56:55 AM EST
Japanese cultural traits 'at heart of Fukushima disaster' | EurActiv

In his combative preface to the report, Kiyoshi Kurokawa, a medical doctor and professor emeritus at Tokyo University, said the crisis was the result of "a multitude of errors and willful negligence", by the government, safety officials and the plant's operator, Tokyo Electric Power [Tepco].

But behind the safety missteps and lack of readiness for a tsunami in a region known for powerful earthquakes, are cultural traits that ensured the disaster was "made in Japan", Kurokawa said.

"Its fundamental causes," he wrote, "are to be found in the ingrained conventions of Japanese culture: our reflexive obedience; our reluctance to question authority; our devotion to 'sticking with the programme'; our groupism; and our insularity.

"What must be admitted - very painfully - is that this was a disaster 'Made in Japan'.

"Had other Japanese been in the shoes of those who bear responsibility for this accident, the result may well have been the same."

None of the agencies involved emerged with any credit. "The Fukushima nuclear power plant accident was the result of collusion between the government, the regulators and Tepco, and the lack of governance by said parties," said the report, compiled by the Fukushima nuclear accident independent investigation commission.

"They effectively betrayed the nation's right to be safe from nuclear accidents. Therefore, we conclude that the accident was clearly 'man-made'."

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 11:58:26 AM EST
[ Parent ]
The Guardian had a report yesterday that the original Japanese version did not blame cultural issues at all, simply that management tended not to listen to underlings who felt obliged to phrase their warnings with a lot of conditionals.

The translations were spun to enable western proponents of nuclear to claim that it was a japanese problem and not a failure of nuclear power as an idea

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 05:19:32 AM EST
[ Parent ]
That sounds about right.  I had my class do some reading on this issue at the beginning of the year, when the Kurokawa panel was being set up and the Hatamura panel was just about to release its report, so I've got some sense of things, and the little bits I've read so far are not terribly surprising.

There is the American usage of "culture" to refer to the ways that a business or organization usually does things - and when talking about "inscrutable orientals" and reading things in translation, it's pretty easy for reporters to mess that up pretty badly.

I may try to put a diary together on this soon.

by Zwackus on Sun Jul 8th, 2012 at 05:55:46 AM EST
[ Parent ]
Zwackus:
I may try to put a diary together on this soon.

Excellent idea!

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:01:42 AM EST
[ Parent ]
Or it's a way for Americans to avoid the fact nuclear power plants are highly dangerous, designed by wishful thinking, and managed by morons.

Ever since I learnt about confirmation bias I've started seeing it everywhere
by ATinNM on Mon Jul 9th, 2012 at 10:58:59 AM EST
[ Parent ]
Or a way to tell Americans that "the problem was that they were managed by foreignersmorons".

America, fuck yeah!

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 Mon Jul 9th, 2012 at 11:35:59 AM EST
[ Parent ]
not a failure of nuclear power as an idea

Management not listening to underlings OR a work-culture in organisations or businesses dominated by fear for superiors does not strike me as limited to the nuclear industry.

Nor do the findings strike me as an indication this would be stigmatic for the industry as a whole. After all, that wasn't under scrutiny.

by Nomad on Sun Jul 8th, 2012 at 07:03:26 AM EST
[ Parent ]
Helen:
simply that management tended not to listen to underlings who felt obliged to phrase their warnings with a lot of conditionals.

Probably did not help that terrorism was used as a blanket to hide information after september 11th 2001.

European Tribune - Terrorism, Nuclear power and Secrecy

Just heard (Wed. 7/18) swedish radio news about the earthquake and nuclear power plant accident in Japan. Apparently the spill was larger then first reported (no numbers) and IAEA has encouraged Japan to be more open about nuclear power. No surprises thus far.

Now comes the real news (to me anyway).

According to Jan-Olov Liljenzin, professor in nuclear chemistry at Chalmers university of technology (second largest technical college in Sweden) this is probably an empty gesture, and IAEA knows it. After september 11th 2001 nuclear companies has been ordered (by the governments) to keep secret anything that could help terrorists.

That was in 2007. ET - get your warning signals years in advance.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Sun Jul 8th, 2012 at 08:42:31 AM EST
[ Parent ]
AFP:

Fukushima was 'man-made' disaster: Japanese probe

Last year's Fukushima nuclear accident was a man-made disaster caused by Japan's culture of "reflexive obedience" and not just the tsunami that hit the plant, a damning parliamentary report said Thursday.

Ingrained collusion between plant operator Tokyo Electric Power, the government and regulators, combined with a lack of any effective oversight led directly to the worst nuclear accident in a generation, the report said.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:04:38 AM EST
[ Parent ]
Nuclear crisis `Made in Japan,' panel says

By DEMOCRAT-GAZETTE STAFF FROM WIRE REPORTS

The nuclear accident at Fukushima was a preventable disaster rooted in government-industry collusion and the worst conformist conventions of Japanese culture, a parliamentary inquiry concluded Thursday.

....

Most notably the report said the plant's crucial cooling systems might have been damaged in the earthquake on March 11, 2011, not only in the ensuing tsunami. That possibility raises doubts about the safety of all the quake prone country's nuclear plants just as they begin to restart...


Perhaps the memo didn't reach Arkansas?


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 Sun Jul 8th, 2012 at 12:29:12 PM EST
[ Parent ]
Reuters:

Japan's atomic disaster due to collusion: panel report | Reuters

(Reuters) - Japan's Fukushima nuclear crisis was a preventable disaster resulting from "collusion" among the government, regulators and the plant operator, an expert panel said on Thursday, wrapping up an inquiry into the worst nuclear accident in 25 years.

Damage from the huge March 11, 2011, earthquake, and not just the ensuing tsunami, could not be ruled out as a cause of the accident, the panel added, a finding with serious potential implications as Japan seeks to bring idled reactors on line.

The panel criticized the response of Fukushima Daiichi plant operator Tokyo Electric Power Co, regulators and then Prime Minister Naoto Kan, who quit last year after criticism of his handling of a natural disaster that became a man-made crisis.

"The ... Fukushima Nuclear Power Plant accident was the result of collusion between the government, the regulators and Tepco, and the lack of governance by said parties," the panel said in an English summary of a 641-page Japanese document.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:09:37 AM EST
[ Parent ]
Al Jazeera:

Japan says Fukushima disaster was 'man-made' - Asia-Pacific - Al Jazeera English

The nuclear accident at Fukushima last year was a "man-made disaster" and not only due to the tsunami, a Japanese parliamentary panel said in its final report on the catastrophe.

"Governments, regulatory authorities and Tokyo Electric Power [TEPCO] lacked a sense of responsibility to protect people's lives and society," the Diet's Fukushima Nuclear Accident Independent Investigation Commission said on Thursday.

(...) "According to this commission's study, on March 11, it is believed that the Fukushima Daiichi nuclear power plant was in a vulnerable condition with no guarantee it could withstand earthquakes and tsunamis," the report said.

The government and plant operator TEPCO have been unwilling to say the reactors could have been damaged by the initial earthquake.

An earlier report by TEPCO had all but cleared the huge utility, saying the size of the earthquake and tsunami was beyond all expectations and could not reasonably have been foreseen.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:12:02 AM EST
[ Parent ]
Asahi Shimbun:

FINAL REPORT (1) : TEPCO, NISA's dilly-dallying caused 'man-made disaster' - AJW by The Asahi Shimbun

Tokyo Electric Power Co. and nuclear regulatory authorities "intentionally" delayed taking measures against earthquakes and tsunami, causing a "man-made disaster" at the Fukushima No. 1 nuclear power plant, Diet-commissioned investigators said.

"Given that countermeasures could have been formulated on many occasions before it took place, the accident (on March 11, 2011) was clearly a man-made disaster," the Fukushima Nuclear Accident Independent Investigation Commission said in its final report released July 5.

The commission proposed setting up a new independent panel of private-sector and other experts at the Diet to continue investigations into the accident.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:15:44 AM EST
[ Parent ]
Daily Yomiuri:

Report vividly describes 'man-made' disaster : National : DAILY YOMIURI ONLINE (The Daily Yomiuri)

The final report on the disaster at the Fukushima No. 1 nuclear power plant by an independent Diet panel vividly describes the confusion that reigned in the Prime Minister's Office and Tokyo Electric Power Co. in the initial days of the crisis.

The National Diet of Japan Fukushima Nuclear Accident Independent Investigation Commission based its conclusions on more than 1,000 interviews with people involved in the disaster response. It released its final report Thursday.

However, it remains to be seen whether the government and TEPCO will take the criticisms in the report on nuclear power safety to heart.

One of the report's most gripping sections is the testimony of Masao Yoshida, then chief of the crippled nuclear power plant.

The report quotes Yoshida as saying: "The chain of command was a total mess. In principle, if [TEPCO's] head office had told me to stop [injecting sea water into the reactor], we could have discussed it at that point. But what actually happened was that I was called by [the Prime Minister's] Office, which was not directly involved in the accident response, and was told to stop [the injections]. I thought, 'What the hell is going on?'"

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:17:33 AM EST
[ Parent ]
afew:
the nation's right to be safe from nuclear accidents

Does that right exist? If not, all nations deploying civil nuclear should say clearly that there is no such right. If it does exist, the question that follows is can the nuclear industry respect it?

The report assumes that such a right exists and the nuclear industry can respect it. So it is no more than a finger-pointing exercise searching out the blameworthy du jour.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:26:08 AM EST
[ Parent ]
No.

The "heart" of the Fukushima disaster is:

  1. building a nuclear reactor

  2. building it in an area subject to strong earthquakes

  3. putting the nuclear reactor next to the ocean so when a strong earthquake happens the plant will be inundated by a tsunami

Less deferential modes of communication between Management and Worker Bees would not have affected the above in any way, shape, or form.

Ever since I learnt about confirmation bias I've started seeing it everywhere
by ATinNM on Mon Jul 9th, 2012 at 10:55:28 AM EST
[ Parent ]
I'm afraid that this has almost nothing to do with "Japanese culture."

For example, the idea of storing spent fuel in elevated holding tanks would not pass muster if reevaluated today. When the plants were built, the tanks were to be used for temporary storage only. Since it makes the re-fueling process easier if the tanks are up high, and since they would hold "only" a few years worth of spent fuel, the tradeoff was judged to make sense.

Now, with the lack of a spent fuel disposal system, and with public opinion skewed by Chernobyl, Three Mile Island, and Fukushima, plus the relative changes of costs and risks for sustainable supplies, it seems likely that this design approach would not be accepted. But since the plants were built a long time ago, and have a long lifetime, there's no easy way to back out of the situation.

I suspect that this overall scenario was not included in the original risk analysis.

Nuclear waste experts ... charge that the NRC is letting this threat [of the Fukushima fuel pools] fester because acknowledging it would call into question safety at dozens of identically designed nuclear power plants around the U.S., which contain exceedingly higher volumes of spent fuel in similar elevated pools outside of reinforced containment.

http://www.infowars.com/senator-fukushima-fuel-pool-is-a-national-security-issue-for-america/
by asdf on Mon Jul 9th, 2012 at 11:18:08 AM EST
[ Parent ]
Blowing in the right direction: Two big wind projects are moving forward | Grist

As we continue to retire aging dirty coal plant after aging dirty coal plant nationwide (we just hit 112 coal plants secured to retire), we are also pushing hard to replace them with clean energy, and as little natural gas as possible. That's why we were excited this week to see two very large clean energy announcements from the U.S. Bureau of Land Management (BLM).

First, Interior Secretary Ken Salazar announced the completion of the final environmental impact statement for a massive Wyoming wind farm. The Chokecherry and Sierra Madre Wind Energy Project would be comprised of up to 1,000 wind turbines across private and federal land in southeastern Wyoming, and generate up to 2,500 megawatts of clean energy.

This is a great move for a state where coal mining is devastating a beautiful and critical area -- the Powder River Basin. More wind power in Wyoming could mean less coal mining and fewer coal trains and coal plants in the West.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 02:49:43 PM EST
[ Parent ]
Journalists and climate disclaimers | David Roberts | Grist

Earlier this week, the Washington Post's Eugene Robinson wrote a great column connecting the recent heat waves to climate change. As one of the very few mainstream journalists willing to do so, he deserves kudos, or props, or big-ups, or whatever kids are calling them these days.

However, much like the rest of the tiny handful of journalists making the connection, he felt the need to include this disclaimer:

This is the point in the column where I'm obliged to insert the disclaimer that no one event -- no heat wave, no hurricane, no outbreak of tornadoes or freakish storms -- can be definitively blamed on climate change. Any one data point can be an anomaly; any cluster of data points can be mere noise.

This kind of thing drives my friend Brad Johnson crazy. In an email, he says it's "just false, and not useful."

This gives me an excuse to make a point about media coverage of this stuff. In a nutshell, I agree with Brad that it's not useful -- not useful for climate advocacy purposes, but also not useful as journalism -- but disagree that it's false.

As I see it, Robinson's disclaimer is true. No one event can be "definitively blamed on climate change." The problem is, all kinds of baggage is being smuggled in with the word "definitively."

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 02:51:00 PM EST
[ Parent ]
Roberts post is utterly idiotic.

Firstly, journalists (and readers) have difficulty enough in understanding that a gradual change in natural processes, already measurably influenced by other human activities, takes decades of observations and measurements to rise above the fray of signals.

But more importantly, Roberts writes:

It's also an illustration of how well conservatives (and concern trolls) have been able to work the refs. Those journalists brave enough to mention climate change in the context of any actual event in the world are almost never confident enough to simply treat it as a distal cause among other distal causes, to take it for granted. Climate change ought to be, not some novelty to be hemmed and hawed over, but simply a background condition to be noted. "Climate changes's effects were in evidence again this week as a series of wildfires ravaged the West." There's your lede.

SREX Report 3.5.1:

We thus assess that there is medium confidence (see also
Section 3.1.5) that anthropogenic influence has contributed to some
changes in the drought patterns observed in the second half of the 20th
century, based on its attributed impact on precipitation and temperature
changes (though temperature can only be indirectly related to drought
trends; see Box 3-3). However there is low confidence in the attribution
of changes in droughts at the level of individual regions.

Any journalist pursuing objectivity to the best of his capabilities and thus write "Climate changes's effects were in evidence again this week as a series of wildfires ravaged the West." are ignoring at will a massive body of collective scientific evidence. They would either be incompetent or subjective or both.

Roberts then writes:

And I'm not sure the climate community is doing a great job on that score. I'm sorry, but "this is what we expect climate change to look like" just isn't as confident as "this is climate change." The fact that defensive, hedged language is now being rolled out as the official rhetoric of climate hawks is testament to the fact that scientists are driving the process.

But Roberts seems to get all iffed by the fact that journalists write down what scientists actually agree on.

Why should we all talk about these things the way scientists talk about them? Why should journalists talk that way?

Cowardly, he doesn't give an answer those questions.

I will: Because there is enough unfounded scaremongering. Because journalistic objectivity is already under enough pressure as it is. Because it undermines journalistic and scientific integrity as a whole. Because climate scientists hugging doom in their dialogue for a political impact have abjectly failed.

If Roberts wants journalists abandoning objectivity altogether and follow his world of make-believe instead, why keep faith in scientists at all then? Get rid of those troublemakers and just make the world up as you go along. Whatever doom suits him.

by Nomad on Sun Jul 8th, 2012 at 08:14:20 AM EST
[ Parent ]
Red Zone: Colorado's Growing Wildfire Danger | I-News Network

The number of wildfires in Colorado has exploded during the past decade. So has the number of people living in high-risk fire zones.

And public policies for dealing with both actually risk making the state's fire danger even worse, an I-News Network investigation found.

<snip>

Today, 1.1 million Coloradans live in more than half a million homes in red zones across the state, an I-News analysis found. That's one of every four homes and one of every five people in the state. In some counties, including Pitkin - home to Aspen - Teller and Summit counties, more than 90 percent of the population lives in a red zone.

As the number of people in red zones has exploded, so has the number of fires - and the damage each did.

In the 1960s, Colorado averaged about 460 fires each year that burned about 8,000 acres annually, according to Colorado State Forest Service records. In the past decade, Colorado saw an average of about 2,500 fires a year burning nearly 100,000 acres.

Some of the explosion in fires is explainable by climate change. In some areas of the Rocky Mountains, the fire season is almost two months longer than it used to be. Colorado's fire season has consistently extended into the spring as the drying and warming climate thins snowpacks and desiccates fuels earlier in the spring.

"Looking back historically, spring was not considered part of fire season in Colorado until the very recent past," says Elk Creek Fire Chief Bill McLaughlin, one of the chiefs who led the fight against the Lower North Fork fire which killed three people in March. "It's been largely the last decade that they've seen those spring fires occurring."

But climate change is not the only problem.

Public policies regarding both population growth and forest management are adding to the wildfire problem:

by Nomad on Sun Jul 8th, 2012 at 09:05:16 AM EST
[ Parent ]
Nomad:
Any journalist pursuing objectivity to the best of his capabilities and thus write "Climate changes's effects were in evidence again this week as a series of wildfires ravaged the West." are ignoring at will a massive body of collective scientific evidence. They would either be incompetent or subjective or both.

This appears to be the crucial point.

Journalists and climate disclaimers | Grist

This is one of many illustrations why journalistic "objectivity" is a myth. There's an endless number of true things that can be said and an endless number of true ways to say them. Which you choose to say, and how, conveys its own message. In this case, the message is a lack of confidence, rhetorical and social.

I think Robert's point is that climate change is treated as more unsure then is warranted by papers that has no problems with presenting for example the latest cure for / cause of cancer as received gospel.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Sun Jul 8th, 2012 at 09:14:05 AM EST
[ Parent ]
I think Robert's point is that climate change is treated as more unsure then is warranted by papers that has no problems with presenting for example the latest cure for / cause of cancer as received gospel.

Citation needed. Roberts certainly does not have any facts to show for that such is happening, except for his own (subjective) reading.

But the science message is a certain lack of confidence on this particular topic. And Roberts actually blames scientists for telling that message.

He doesn't like the message, that's the point. And then blames others for telling a message he doesn't like.

by Nomad on Sun Jul 8th, 2012 at 09:52:01 AM EST
[ Parent ]
Global Health and Wellness News: Relax and Have a Strawberry

The great summertime snack, the strawberry is packed with flavor and all natural sugars. It is your healthy alternative to junk food and sweets. The one-of-a-kind fruit, with its seeds on the outside, is loved by the masses and it grows well throughout Europe, eastern North America, and elsewhere around the world. The USA alone produces over 1.25 million tons of it per year. Besides their fantastic taste, a new study has found that strawberries have other beneficial health effects. Researchers from the University of Warwick Medical School found that strawberries are extremely effective at preventing the development of heart disease and diabetes.

The research was led by Professor Paul Thornally, whose team discovered that extracts from strawberries positively activate a protein in our bodies called Nrf2. This protein has shown to increase antioxidant and other protective activities. It also decreases blood lipids and cholesterol, two factors that can lead to cardiovascular disorders.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 02:53:06 PM EST
[ Parent ]
chance'd be a fine thing. The only stawberries we get in this country are overblown and tasteless

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 05:49:29 AM EST
[ Parent ]
Think this has been fixed now, but when Sweden first entered the EU, the small tasty strawberries that is common in Sweden was not allowed to be marketed as strawberries because they were to small.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
by A swedish kind of death on Sun Jul 8th, 2012 at 06:02:13 AM EST
[ Parent ]
Oddly, Strawberry season in Japan is late January and early February.
by Zwackus on Sun Jul 8th, 2012 at 05:57:20 AM EST
[ Parent ]
That would depend on where strawberries for mass distribution were grown. There's quite a climate stretch from North to South Japan.
by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 08:00:01 AM EST
[ Parent ]
I think most of them are grown in greenhouses (vinyl tent type), and I know lots of them are grown in the Kanto area, around Tokyo.  
by Zwackus on Sun Jul 8th, 2012 at 11:43:14 PM EST
[ Parent ]
Greenhouses would explain the early season. Then it's perhaps a cultural thing about having strawberries so early in the year?
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Jul 9th, 2012 at 02:46:44 AM EST
[ Parent ]
Windmills breathe life into failing Gdansk shipyards | Reuters

(Reuters) - Just yards from where Lech Walesa made his first moves to bring down communism in eastern Europe, Danish businessman Thomas Gaardbo is taking advantage of the skilled workforce from the era to rescue one of Poland's most cherished historical sites.

When the European Union banned state help for the Gdansk shipyard in 2008, forcing it into bankruptcy for a third time, it seemed that all was lost for the enterprise which gave birth to the Solidarity movement in the 1970s.

But Gaardbo has found that the 6.5 hectare hall that once churned out ocean liners is perfect for building the giant steel towers needed for the windfarms driving Europe's shift towards cleaner renewable energy.

Ant-like welders climb along the inside of the towers, which are up to 120 meters tall and 7.5 meters in diameter and carry sails that weigh as much as a Boeing 757.

A major cost in their manufacture is their problematic transport, and the decision by Gaardbo's company GSG Towers to invest 250 million zlotys ($73.48 million)in production in Gdansk was largely based on the advantage of being able to load the tubes directly onto ships in the old free city's harbor on the Baltic.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:12:15 PM EST
[ Parent ]
Navy moves ahead on biofuels despite congressional ire | Reuters

(Reuters) - The Pentagon is pushing ahead with a $420 million effort to build refineries to make competitively priced biofuels, despite anger in Congress over the price the Navy paid for alternative fuel to test a carrier strike group this month.

The government plans provide $210 million in matching funds to help firms build three refineries, each able to produce at least 10 million gallons of biofuel a year for military jets or ships, according to documents released this week. The Navy would supply $170 million and the Energy Department $40 million.

The military's spending on alternative fuels has drawn criticism from Republican lawmakers, with Senator Jim Inhofe charging that President Barack Obama's priorities are "completely skewed" and Representative Mike Conaway accusing Navy Secretary Ray Mabus of "squandering precious dollars."

But Mabus warns that U.S. dependence on foreign oil is a strategic vulnerability that can only be addressed by reducing the military's reliance on petroleum as the sole source of fuel to power its jets, ships and tanks.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:13:03 PM EST
[ Parent ]
Drill, baby, drill!
Frack, baby, frack!
No biofuels monkey
Gonna climb the Navy's back!
by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 03:30:03 AM EST
[ Parent ]
It's too bad they don't take a similar view towards electronics manufacture.  The fact that nearly the entire semiconductor industry is located in Taiwan can't be very healthy for the military supply chain.
by Zwackus on Sun Jul 8th, 2012 at 05:59:22 AM EST
[ Parent ]
IPS - Brazilian Environmental Activists Killed in Shadow of Rio+20 | Inter Press Service

RIO DE JANEIRO, Jul 7 2012 (IPS) - Far from the plush surroundings which hosted Rio+20, the most ambitious global conference on the environment of the past two decades, events in a fishing village in the state of Rio de Janeiro show the cost of fighting environmental crime can be as high as life itself.

The people living in a coastal village on Mauá beach on Guanabara Bay, in the municipality of Magé, 84 km north of Rio, had no time to digest the results of the United Nations Conference on Sustainable Development held in this city Jun. 20-22.

On Friday Jun. 22, the same day heads of states signed the conference's final document - which was criticised for its lack of commitment on crucial issues like the protection of the ocean - two fishermen and environmental activists, Almir Nogueira and Jõao Luiz Telles, went missing from their homes.

Nogueira's body was discovered two days later, tied to his boat which was sunk in the waters off a local beach. Telles was found dead on Jun. 25, washed up onshore in a nearby municipality. He was tied hand and foot in foetal position.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:22:07 PM EST
[ Parent ]
IPS - PERU: Anti-Mining Protesters Shot Amid Climate of Fear | Inter Press Service

LIMA, Jul 6 2012 (IPS) - In under two days, five demonstrators were gunned down by security forces in the northern Peruvian highlands region of Cajamarca, where a state of emergency has been declared.

That makes a total of 15 dead and 430 injured in social protest-related incidents in less than a year since President Ollanta Humala took office.

Health authorities of the department (province) of Cajamarca told IPS that 27 members of local communities and four policemen were wounded in clashes on Tuesday in the district of Celendín, and another 13 civilians were injured on Wednesday in Bambamarca.

For the second time in six months, the government called a state of emergency in the area, where local and peasant communities are mobilising to protest against the Conga gold mining project headed by the multinational corporation Yanacocha-Newmont.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:23:26 PM EST
[ Parent ]
The corporates are flexing their muscles

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 05:57:12 AM EST
[ Parent ]
BBC News - Chernobyl's radioactive trees and the forest fire risk

Firefighters in Chernobyl have one of the least enviable jobs in the world. They spend all day up rusty Soviet watchtowers, which sway in the wind like tin-box metronomes, and act as conductors to the huge lightning storms which swing across the land most afternoons in summer, often sparking fires.

When they spot a wildfire, the firefighters triangulate its location by radio. Teams jump aboard big, red, Soviet fire trucks, and lumber along cracked, overgrown roads to the source of the blaze.

Their equipment is very basic. They believe they know when they are fighting a radioactive fire - they experience a tingling, metallic sensation in their skin - but they do not fully understand the serious dangers of being exposed to superheated radioactive particles.

 

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

by melo (melometa4(at)gmail.com) on Sat Jul 7th, 2012 at 05:49:37 PM EST
[ Parent ]
I find the connection between radiation exposure and metallic taste intriguing.

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 06:12:22 PM EST
[ Parent ]
It might have to do more with the metallic elements that bear the radioactivity, such as cesium, than with the radioactivity itself.

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 Sun Jul 8th, 2012 at 12:38:10 PM EST
[ Parent ]
No, no. People exposed to radiation report feeling a metallic taste. It has nothing to do with physical contact with the radionuclides.

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 Sun Jul 8th, 2012 at 05:22:11 PM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 08:57:14 AM EST
Tricky Cuttlefish Put on Gender-Bending Disguise | Cephalopod Intelligence | LiveScience

Squid-like cuttlefish are known for their amazing camouflage abilities, thanks to specialized skin cells that allow them to change color in the blink of an eye. Now research finds that these clever mollusks use their color-changing abilities in creative ways: by pretending to be the other gender.

Well, half-pretending, that is.  

When a male cuttlefish is wooing a lady, he often "cheats" by painting typical female patterns on one side of his body, while the other side ? the one facing the female ?  shows off typical male patterns. This gender-bending disguise fools rival males into thinking they're seeing just a couple of ladies hanging out. That means more of an opportunity for the cheater cuttlefish to mate.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 02:59:56 PM EST
[ Parent ]
Toward a Better Understanding of Earthquakes

The earth is shaken daily by strong earthquakes recorded by a number of seismic stations worldwide. Tectonic tremor, however, is a new type of seismic signal that seismologist started studying only within the last few years. Tremor is less hazardous than earthquakes and occurs at greater depth. The link between tremor and earthquakes may provide clues about the more destructive earthquakes that occur at shallower depths.

Geophysicists of Karlsruhe Institute of Technology (KIT) collected seismic data of tectonic tremor in California. These data are now being evaluated in order to better understand this new seismic phenomenon.

About a decade ago, researchers discovered a previously unknown seismic signal, now referred to as tectonic tremor. Contrary to earthquakes, tectonic tremor causes relatively weak ground shaking. While tremor may last longer than earthquakes, it does not cause any direct danger.

"Both earthquakes and tremor have the same cause. They result from the relative movement on fault surfaces, a result of the motion of the tectonic plates," explains seismologist Dr. Rebecca Harrington, who heads a research group at KIT.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:02:42 PM EST
[ Parent ]
BBC News - Football transfer numbers and costs in global fall

International football transfer numbers and player buying fees have fallen sharply worldwide in the past six months, says governing body Fifa.

Completed player deals fell by 9% in the first six months of 2012, but their total financial value plunged by more than a third, falling by 34%.

Total income from 4,973 transfers around the globe was $576m (£371m).

The drop may be due to continued global economic problems and the forthcoming Uefa financial fair play rules.

The data was revealed by Fifa's Transfer Matching System (TMS) organisation, which uses modern electronic technology with the aim of making international football transfers more transparent and legally compliant.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:08:12 PM EST
[ Parent ]
Taliban publicly execute woman near Kabul: officials | Reuters

(Reuters) - A man Afghan officials say is a member of the Taliban shot dead a woman accused of adultery in front of a crowd near Kabul, a video obtained by Reuters showed, a sign that the austere Islamist group dictates law even near the Afghan capital.

In the three-minute video, a turban-clad man approaches a woman kneeling in the dirt and shoots her five times at close range with an automatic rifle, to cheers of jubilation from the 150 or so men watching in a village in Parwan province.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 03:11:24 PM EST
[ Parent ]
to cheers of jubilation from the 150 or so men

why does this not surprise me in the least ?

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 8th, 2012 at 06:04:31 AM EST
[ Parent ]
Here's another 3-minute video:



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 Sun Jul 8th, 2012 at 06:42:03 AM EST
[ Parent ]
Protesters take 16-metre wind turbine blade to Tate Modern | Art and design | guardian.co.uk

Dozens of activists have deposited a huge wind turbine blade in the Tate Modern in protest at BP's sponsorship of the gallery.

Members of the Liberate Tate pressure group carried sections of the 16.5-metre blade across the Thames's Millennium bridge on Saturday morning before assembling it in the gallery's Turbine Hall.

The one and a half tonne blade, taken from a decommissioned wind turbine in Wales, was presented to Tate staff along with an official request for it to be made part of the gallery's permanent collection.

Liberate Tate spokeswoman Sharon Palmer said that "in a time of climate crisis" visitors to the gallery "should not be made to feel that they're legitimising" oil firms such as BP.



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 04:14:39 PM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 08:57:39 AM EST
The problem with weekends is that a lot of online media don't post new items between Friday and Monday. Pulling stuff together for two weekend Salons is a scrape.

This is a tentative weekend Salon, up on Saturday night (Europe), next Salon Monday night. (Another way of doing it would be the Friday night Salon for Sat-Sun, with a new one up on Sunday night for Monday). Contributions are, as always, of course, welcome, as are your reactions.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jul 7th, 2012 at 09:17:07 AM EST
[ Parent ]
why not give the salon a day off work too? no problemo.

thanks.

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

by melo (melometa4(at)gmail.com) on Sat Jul 7th, 2012 at 05:02:42 PM EST
[ Parent ]
My instinct is that this is working ok, but a single one on Friday night for Sat-Sun might work better, as Sunday is rarely a day for new news, but Monday morning quite a few things get announced (like the latest Euro news which spawned your diary) which are easier to find if they are not mixed in with the weekend...
by Metatone (metatone [a|t] gmail (dot) com) on Mon Jul 9th, 2012 at 04:47:46 AM EST
[ Parent ]
Maybe on sunday you could FP a bare structure and make sunday a DIY day

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Jul 9th, 2012 at 05:44:17 AM EST
[ Parent ]
That's a beautiful photo of the Charles bridge.


'tis strange I should be old and neither wise nor valiant. From "The Maid's Tragedy" by Beaumont & Fletcher
by Wife of Bath (kareninaustin at g mail dot com) on Sun Jul 8th, 2012 at 02:07:33 PM EST
[ Parent ]
Indeed.
by afew (afew(a in a circle)eurotrib_dot_com) on Sun Jul 8th, 2012 at 03:46:54 PM EST
[ Parent ]
Just lovely; it brightened the day. Thanks for finding and posting it afew. :-)
by sgr2 on Sun Jul 8th, 2012 at 04:27:36 PM EST
[ Parent ]


Display:
Go to: [ European Tribune Homepage : Top of page : Top of comments ]