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European Salon de News, Discussion et Klatsch - 15 December

by ceebs Tue Dec 14th, 2010 at 04:54:25 PM EST

 A Daily Review Of International Online Media 


Europeans on this date in history:

1947 - death of Arthur Machen, Welsh author and mystic (b. 1863)

More here and here

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Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 12:38:06 PM EST
PressTV - British MP: protestors were street gangs
Britain's Home Secretary Theresa May has said that street gangs and hardcore activists were behind the protests against tuition fee rise last week.

May said on Monday that street gangs rampaged through London and attacked a car carrying Prince Charles and his wife, and several vandalized government buildings. May said police believe "the protests were infiltrated by organized groups of hardcore activists and street gangs bent on violence."

She also said that many of the protestors in central London last Thursday became involved in the violence. "It is quite clear that these acts were not perpetrated by a small minority but by a significant number of troublemakers," May told the House of Commons.


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:32:25 PM EST
[ Parent ]
Student fees protest: lawyers launch legal challenge to kettling | Education | guardian.co.uk

Lawyers have launched a legal challenge to the police tactic of kettling during recent student demonstrations, claiming a breach of human rights.

The lawyers, acting for five of the thousands of demonstrators penned in by police last Thursday, have written to the commissioner for the Metropolitan police, Sir Paul Stephenson,arguing that kettling breaches European human rights legislation.

The latest student demonstration saw thousands of people descend on London to protest about the rise in tuition fees and the drastic cuts to post-16 education.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:39:06 PM EST
[ Parent ]
So what are we to understand? That the violence was carried out by street gangs? Hardcore activists? A significant number of protestors?

Also called: how to smear everyone with a "street gang" brush (well-known French tactic).

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Dec 15th, 2010 at 01:42:27 AM EST
[ Parent ]
Well if you read the Tory press the comments seem to say that their  readers all think that it it isnt street gangs, rather that students in general are ungrateful and undeserving.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Wed Dec 15th, 2010 at 06:19:13 AM EST
[ Parent ]
http://delong.typepad.com/20101029-battered-and-beaten.pdf
Let me mention one last hypothesis--one that may get my economist union card revoked and get me transferred to a department of rhetoric, or perhaps cultural studies.

Friedrich Nietzsche talked about the losers, or about those who thought they were the losers. He discussed their tendency in various ways to transvalue their values--to say that what was thought to be bad was in fact good precisely because it was thought to be bad.

Three weeks ago I was talking to some activists from the California Tea Party. I was trying to explain the Keynesian perspective: Shouldn't we keep public employment from falling," I said, "because right the government can borrow at such extraordinarily good terms, and if we keep our teachers at work then they educate our students and our students can earn more in the future--and if teachers have incomes they spend money and that employs more people in private sector?

And they said no.

They said: we have lost our jobs in the private sector. It is only fair for those who work in the government to run some risk of loosing their jobs

(h/t kcurie)

Also MillMan:

A lot of people in [the US] are pretty far off on the deep end of unhappiness where self-pain and inflecting pain on others causes pleasure


Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Wed Dec 15th, 2010 at 06:36:09 AM EST
[ Parent ]
That's what Milosevic said...

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Wed Dec 15th, 2010 at 02:43:51 PM EST
[ Parent ]
BBC News - Coalition reveals list of 142 court closures

The government has revealed that 93 magistrates' courts are to be closed in England and Wales.

Justice minister Jonathan Djanogly also said the government would shut 49 County Courts, as part of its deficit-reduction programme.

These figures are slightly lower than the 103 magistrates courts and 54 county courts previously earmarked for closure.

Mr Djanogly told MPs the current system was "unsustainable".

There are some 300 magistrates' courts, who deal with minor crimes, crown court committal hearings and licensing applications.

It is estimated that closing the courts will save the government at least £15m a year in running costs, plus an extra £22m in maintaining the buildings.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:34:32 PM EST
[ Parent ]
Oh great!

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Wed Dec 15th, 2010 at 02:45:11 PM EST
[ Parent ]
Gary Gibbon on Politics - Lib Dem Lords falling into line on fees

Lib Dems don't expect their Lords rebels to muster more than single figures in tonight's vote on tuition fees.

If Labour confounded their expectations and got its way and won the vote the Government would have to come back with another resolution and get it through the Commons again in the New Year.

Universities want to issue prospectuses with new prices in the Spring ready for 2012 entry and a Whitehall source says that timings would get "very difficult."



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:34:53 PM EST
[ Parent ]
Julian Assange granted bail: live updates | News | guardian.co.uk

It is impossible to say how long it will take before Mr Assange is out. The problem is that £200,000 can't be paid in by cheque because cheques take seven days to clear. We have to go around to find money in cash. Until this court is in possession of £200,000, an innocent man stays in jail.

Stephens trotted out the adjectives to describe the conditions that Assange is being held - he used the words Orwellian, Dickensian and Victorian.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:37:35 PM EST
[ Parent ]
Sweden will not challenge Assange bail | RFI
Swedish authorities said Tuesday they would not challenge a British court's decision to grant bail to WikiLeaks founder Julian Assange, who was granted bail a few hours earlier.


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:37:56 PM EST
[ Parent ]
Assange to stay in jail as Sweden appeals | Herald Sun

WIKILEAKS founder Julian Assange will have to stay in prison after lawyers acting for Sweden said today they would challenge bail granted by a London court.

Lawyer Gemma Lindfield told City of Westminster Magistrates' Court that Swedish prosecutors intended to challenge the bail order.

The appeal is expected to take place within 48 hours.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:52:17 PM EST
[ Parent ]
BBC News - Italy: Silvio Berlusconi vote win sparks Rome clashes

Italian PM Silvio Berlusconi has narrowly won a vote of confidence in the lower house of parliament by 314 to 311, prompting street protests.

In Rome, violent clashes have left 50 police officers and at least 40 protesters injured.

The marchers set fire to cars, threw stones and overturned bins in Italy's worst street violence in recent years.

Mr Berlusconi's critics say he is too deeply mired in scandal and corruption allegations to remain in office.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:50:04 PM EST
[ Parent ]
BBC News - Google online search adverts 'dominant', says France

Internet giant Google holds a dominant position in the online advertising market linked to search engines, a French competition watchdog has said.

But the Autorite de la Concurrence regulator said Google would only face sanctions if it abused this power.

"Only the abusive exercise of such market power could be sanctioned," the anti-trust regulator said.

Google said search advertisements were just "one of many options for advertisers".



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:59:06 PM EST
[ Parent ]
BNP leader Nick Griffin to stand in Oldham East byelection | Politics | guardian.co.uk

Nick Griffin, the leader of the British National party, will contest the Oldham East and Saddleworth byelection, the far-right party confirmed today.

Griffin, who currently serves as MEP for the North West, is the latest candidate to confirm his bid to enter the race for the seat left empty by Labour's Phil Woolas.

Judges ordered a rerun of the constituency election after ruling last month at a specially convened court that Woolas had lied to win his seat in May by 103 votes, exploiting racial tensions in order to defeat Liberal Democrat Elwyn Watkins.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:00:18 PM EST
[ Parent ]
The Press Association: Warning over redundancy term caps

Measures changing redundancy terms for civil servants will lead to increased strikes and legal challenges, ministers have been warned.

Labour's John McDonnell claimed the Superannuation Bill is the "worst example of industrial relations practices" seen in years.

Mr McDonnell (the Hayes and Harlington MP) criticised what he said was the Government's threat to impose severe caps on the redundancy terms for thousands of civil servants, who will lose their jobs as a result of the coalition's spending cuts.

The Bill will see civil servants receiving one month's salary for every year of service. This would be capped at 12 months for compulsory redundancy and 21 months for voluntary redundancy, with all civil servants entitled to a three-month notice period.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:13:48 PM EST
[ Parent ]
Kosovo PM is head of human organ and arms ring, Council of Europe reports | World news | The Guardian

Kosovo's prime minister is the head of a "mafia-like" Albanian group responsible for smuggling weapons, drugs and human organs through eastern Europe, according to a Council of Europe inquiry report on organised crime.

Hashim Thaçi is identified as the boss of a network that began operating criminal rackets in the runup to the 1999 Kosovo war, and has held powerful sway over the country's government since.

The report of the two-year inquiry, which cites FBI and other intelligence sources, has been obtained by the Guardian. It names Thaçi as having over the last decade exerted "violent control" over the heroin trade. Figures from Thaçi's inner circle are also accused of taking captives across the border into Albania after the war, where a number of Serbs are said to have been murdered for their kidneys, which were sold on the black market.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Dec 15th, 2010 at 01:49:10 AM EST
[ Parent ]
Charming.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Wed Dec 15th, 2010 at 02:50:04 AM EST
[ Parent ]
EE UU ordenó impedir que España levantara el embargo a China · ELPAÍS.comThe USA demanded to prevent Spain from lifting the arms embargo to China - ElPais.com
Aparentemente, la presidencia española de la Unión Europea, entre enero y junio de este año, discurrió de forma tranquila, sin sobresaltos ni grandes avances. Sin embargo, los cables confidenciales del Departamento de Estado de EEUU revelan un asunto que generó mucho trabajo diplomático, en la sombra, para tratar de frenar, de nuevo, la estrategia de Miguel Ángel Moratinos, ex ministro de Asuntos Exteriores. España quería aprovechar su presidencia para poner sobre la mesa una vieja aspiración de Zapatero: el levantamiento del embargo de venta de armas a China que la Unión Europea estableció en 1989, tras la matanza de Tiananmen.The SPanish EU presidency from January to June passed with apparent calm, without surprises or great advances. However, the confidential cables of the US State Department reveal an issue that generated a lot of diplomatic work, in the dark, to try to stop, again, the strategy by former Foreign Minister Miguel Ángel Moratinos. Spain wanted to take advantage of its presidency to table an old goal of ZP's, lifting the ban on weapons sales to China imposed by the EU after the Tiananmen massacre.

This is a direct consequence of the EU forbidding industrial policy except in the areas of military technology.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Migeru (migeru at eurotrib dot com) on Wed Dec 15th, 2010 at 04:07:03 AM EST
[ Parent ]
Military Keynesianism, EU style.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Dec 15th, 2010 at 04:11:02 AM EST
[ Parent ]
Cheer up, comrade, and toast the leader « Labour Uncut

Last week, every single Labour MP turned out to vote in the same division lobby. We voted `no' to the tripling of tuition fees. There were no forgetful absences. Nobody rebelled. No-one sneaked off early. I couldn't remember the last time this happened so I asked the House of Commons library to tell me. And guess what? It hadn't happened in my parliamentary life. Not once since 2001 has the PLP felt collectively strong enough to march in complete unanimity through the same division lobby.

We've nearly ended our rollercoaster year with the whole Labour crew turning out resolutely to oppose David Cameron's Tory-Lib Dem government. We're ahead in the polls. Britain is now so broken that Nick Clegg can't safely ride a bicycle - despite all those close protection officers. And the government is already a cabinet minister and a handful of PPSs down after resignations.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Wed Dec 15th, 2010 at 06:13:05 AM EST
[ Parent ]
Cheer up, comrade, and toast the leader « Labour Uncut

And with the coalition being so unique, our responses to them have to be agile and pragmatic. That's why providing a home to more progressive renegades within the Lib Dems is the right course for us to take. Where our values coincide, we must suppress our burning contempt for Mr Clegg, and work with wiser, more progressive MPs within his parliamentary party.

As Ed Balls warns in Tribune this week, we should never forget that it is the Tories who are driving this deeply regressive programme. The Lib Dems may be evaporating as a political force, but the Conservatives are not. They may not have advanced in the polls as they would have liked, but the Conservatives have not fallen either.



Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Wed Dec 15th, 2010 at 06:18:57 AM EST
[ Parent ]
 ECONOMY & FINANCE 


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 12:47:17 PM EST
BBC News - UK inflation rate rises to 3.3% in November

The UK Consumer Prices Index (CPI) annual inflation rate rose to 3.3% in November, up from 3.2% in October.

It followed record price rises for the October to November period in food, clothing and furniture.

Retail Prices Index (RPI) inflation - which includes mortgage interest payments - rose to 4.7% from 4.5%.

One Bank of England interest rate policymaker said he expected CPI to hit 4% next year due to the VAT increase, and that interest rates needed to rise.

In an interview with the BBC, Andrew Sentance said he favoured a gradual raising of rates.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:55:45 PM EST
[ Parent ]
WikiLeaks cables: RBS chairman said directors 'failed to live up to their duties' | Business | The Guardian

Lord Turner, chairman of the Financial Services Authority, is likely to come under pressure to reopen the regulator's probe into Royal Bank of Scotland after leaked US cables show the bank's new chairman Sir Philip Hampton said the former bank directors had failed to live up to their duties.

The private remarks by Hampton that directors had breached their "fiduciary responsibilities" are disclosed barely a week after the City regulator controversially shut its investigation into what went wrong at RBS.

The FSA's decision, revealed by the Guardian, was greeted with astonishment in the financial community and means no action will be taken against the bank or any of its former directors, including former chief executive Sir Fred Goodwin.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:01:48 PM EST
[ Parent ]
Good to see top talent earning its worth once again.

Although this raises an interesting metaphysical question - is it possible to be too cynical about the FSA?

by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Dec 15th, 2010 at 07:42:10 AM EST
[ Parent ]
WikiLeaks cables: Mervyn King plotted banks bailout by four cash-rich nations | Business | The Guardian

The Bank of England governor, Mervyn King, was so concerned about the health of the world's banks in March 2008 that he plotted a secret bailout of the system using funds from cash-rich nations, according to a US embassy cable released by WikiLeaks.

Six months before the world financial crisis reached its peak, forcing taxpayers to rescue collapsing financial institutions, King told US officials in London that the UK, US, Switzerland and Japan could jointly enable a multibillion-pound cash injection into global banks, overriding the "dysfunctional" G7 nations.

The leak may allow King to claim that he - rather than Gordon Brown - was one of the brains behind the bailout of the banks, which took place in October 2008.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:03:01 PM EST
[ Parent ]
S&P gives Belgium credit rating warning amid political uncertainty | Business | The Guardian

Pressure on high-deficit European countries increased today as Belgium was warned that its credit rating could be cut within six months, and Spain was forced to pay higher interest to lure investors.

S&P lowered Belgium's outlook to "negative" from "stable", because ongoing political instability is hampering efforts to bring the country's deficit under control. Unless the situation is resolved, S&P is likely to cut its rating on Belgium's long-term debt by one notch by June 2011.

"We believe that Belgium's prolonged domestic political uncertainty poses risks to its government's credit standing, especially given the difficult market conditions many eurozone governments are facing," warned S&P.

"We anticipate that prolonged political uncertainty could hurt Belgium's credit standing," it added.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:03:56 PM EST
[ Parent ]
AIB bosses 'looted' bank ahead of bailout | Business | guardian.co.uk

The row over the €40m (£34m) Allied Irish Banks bonuses deepened today after extraordinary claims that executives of the bank had tried to rush the payments through as the bailout loomed.

Irish Times columnist Fintan O'Toole says a source at AIB told him the bonuses were "a looting of the bank by management before the government became involved in the institution".

The source claims the bonuses were deliberately brought forward by two months because the bank was about to be taken into public ownership and knew bonuses might be legally challenged after the bailout.

The claims will be a further blow to embattled finance minister Brian Lenihan who last night announced that he was blocking the payments which were due to be made this Friday to 2,400 staff following legal action by trader John Foy who took a test case to the high court.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:04:31 PM EST
[ Parent ]
extraordinary

Heh.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Dec 15th, 2010 at 07:43:22 AM EST
[ Parent ]
U.S. economy needs "forward momentum": Summers

WASHINGTON, Dec. 13 (Xinhua) -- U.S. economy needs "forward momentum" to boost recovery and curb high unemployment, said President Obama's chief economic advisor on Monday.

In his last public speech delivered at the Washington based think tank Economic Policy Institute, National Economic Council Director Larry Summers said that it was crucial to ensure that the economic recovery is as rapid as possible.

Summers, who is scheduled to return to Harvard University next year, noted that lack of demand was a main constraint facing the economy.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:21:33 PM EST
[ Parent ]
Nine pct growth expected to be new normal for Chinese economy: report

HONG KONG, Dec. 14 (Xinhua) -- The Chinese economic growth is forecast to slow to 9.1 percent in 2011, from an estimate of 10.3 percent this year, and the 9 percent growth is expected to be a new normal for China in the post-crisis period, Bank of America Merrill Lynch said in a regional economic outlook report released on Tuesday.

After fluctuations since late 2008, China's gross domestic product (GDP) growth has stabilized at about 9 percent in both year on year and sequential terms, in comparison with the average 11-percent growth in years before the crisis, said the report.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:22:29 PM EST
[ Parent ]
FT.com / Comment / Opinion - George Soros - Europe should rescue banks before states
The authorities are making at least two mistakes. One is that they are determined to avoid defaults or haircuts on currently outstanding sovereign debt for fear of provoking a banking crisis. The bondholders of insolvent banks are being protected at the expense of taxpayers. This is politically unacceptable. A new Irish government to be elected next spring is bound to repudiate the current arrangements. Markets recognise this and that is why the Irish rescue brought no relief. Second, high interest rates charged on rescue packages make it impossible for the weaker countries to improve their competitiveness vis-à-vis the stronger ones. Divergences will continue to widen and weaker countries will continue to weaken. Mutual resentment between creditors and debtors is liable to grow and there is a real danger that the euro may destroy the political and social cohesion of the EU.

Both mistakes can be corrected. With regard to the first, emergency funds ought to be used to recapitalise banking systems as well as to provide loans to sovereign states. The former would be a more efficient use of funds than the latter. It would leave countries with smaller deficits, and they could regain access to the market sooner if the banking system were properly capitalised. It is better to inject equity now rather than later and it is better to do it on a Europe-wide basis than each country acting on its own. That would create a European regulatory regime. Europe-wide regulation of banks interferes with national sovereignty less than European control over fiscal policy. And European control over banks is less amenable to political abuse than national control.



"People only accept change when they are faced with necessity, and only recognize necessity when a crisis is upon them." - Jean Monnet
by Melanchthon on Tue Dec 14th, 2010 at 05:36:04 PM EST
[ Parent ]
Ireland is being charged 3% above the cost of funds for the rescue deal in order to discourage others availing of the facility.  There is as yet little discussion within Ireland being forced to default later due to unsustainable interest rates.  The Government is challenging opposition parties to say how they will renegotiate the deal if elected and saying they won't be able to - as the state will need the funds from mid-year to keep day-to day activities functioning.  In my view the correct line for the oppo to take is to say that they have no choice but to renegotiate to avert a default later due to unsustainable interest rates.  How can an economy, with almost zero growth pay 6% interest on loans totally 110% of GNP?

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Dec 14th, 2010 at 08:34:09 PM EST
[ Parent ]
Former US Treasury Secretary Paul O'Neill Calls George W. Bush a Liar on Bloomberg   Edward Harrison  Credit Writedowns

I haven't seen a lot of press on these statements by  Paul O'Neill on Bloomberg but they are significant. In essence, O'Neill said that he told George W. Bush not to cut taxes in 2001. Bush went ahead and cut taxes anyway - twice. And he added an unfunded Medicare prescription giveaway while overseeing two wars in Afghanistan and Iraq. Now Bush is acting like O'Neill never said anything about the tax cuts. In Bush's book "Decision Points", he claims never to have spoken to O'Neill about the matter. These are not the only problems with Bush's book. O'Neil was fired, leaving the Administration at the end of 2002.

As for the present deficits and debt, O'Neill believes the day of reckoning is coming. See his comments in the video below. Note that while O'Neill compares the U.S. to Greece, Greece does not have a sovereign monetary policy which makes it vulnerable to liquidity crises in a way the U.S. is not.

Video links are at the title link.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Dec 14th, 2010 at 11:32:21 PM EST
[ Parent ]
Stockman Explains To Ratigan How In Thirty Years America Spent Enough Debt To LBO Itself, And Ended Up Bankrupt  Zero Hedge

After recently debunking the economic "recovery's" flagrantly misrepresented employment data, the OMB's David Stockman makes a third appearance in as many months (previously here and here), this time on Dylan Ratigan. And as always, it is a must see: key soundbite: "We have had a Fed engineered serial bubble, that has created the appearance of wealth, that has caused people to consume beyond their means through borrowing, and that has flushed the income and wealth of our society up to the top, as a result of the Fed turning the financial markets into a casino. These are pure casinos, they are not capital markets, they are not adding to the productive capacity of our economy, they simply are a bunch of robots trading with each other by the millisecond as a result of the Fed giving them zero cost overnight money, and giving them all kinds of hand signals on what to front-run." It is almost as if Stockman reads Zero Hedge... And he continues: "The Fed is destroying prosperity by funding demand that we can't support with earnings and productions, causing massive current accounts deficits and the flow of funds overseas and the build up in China, OPEC and Korea of massive dollar reserves which is a totally unsustainable, unsupportable system, and we are coming near the edge of where that can continue to remain stable." Ironically, Stockman is spot one when he notes that America incurred enough debt to have effectively LBOed itself. The net result, as every PE principal knows all too well, is a husk of an entity, whose most valuable assets have been bled dry. At this point, the last straw for America will be the inevitable rise in interest rates (at some point over the next five years, the Fed and Treasury will have to sell a combined $5 trillion in debt - that alone will destroy the supply/demand equilibrium and send rates surging) which will result in either debt repudiation or outright bankruptcy. The only good outcome is that the great experiment of LBOing America by the kleptocratic elite is coming to its sad conclusion.

Some other facts:

    * In 2000, there were 72 million middle-class jobs: manufacturing, construction, FIRE, transportation, etc; today, there are 65 million jobs, we have lost 10% of our middle class supporting jobs. We have replaced these with part-time jobs.
    * In 1981 the national debt was $1 trillion. Today, it is $14 trillion. The economy in the same period is 3.5-4 times bigger, the national debt is 14 times bigger.
    * Booby-trapping the 2012 election with a the latest set of tax-cuts that expire just days ahead, will panic the White House into doing the wrong decision for the economy once again in another political trade off that delays the inevitable collapse.


Video clip is at the title link.  I watched this on The Dylan Ratigan Show today on MSNBC and Stockman is credible, clear and convincing. Good to see this on cable TV. Better, Ratigan is taking Stockman and others on a road show from up state NY to Chicago to make a popular case for policies that invest in new businesses and create decent jobs.

The one point that did not come through is that the USA actually lent the banksters enough to LBO the country and they did, in the process destroying the industrial base and generating a debt greater than the annual GDP that the Fed and Treasury have been rolling over since October '08.  

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Dec 14th, 2010 at 11:46:04 PM EST
[ Parent ]
Heh. Is this the same David Stockman who was taken to the woodshed by Ronald Reagan 30 years ago?

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt ät gmail dotcom) on Wed Dec 15th, 2010 at 04:58:24 AM EST
[ Parent ]
The very same, except that, as Stockman told it, he and Reagan just had a conversation on other subjects and it was Reagan's spin-meisters who devised the "woodshed". Typical PR. Don't have to do something -- just say you did.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Dec 15th, 2010 at 02:08:25 PM EST
[ Parent ]
For those not familiar with the jargon:

LBO may refer to:

large bowel obstruction
Leveraged buyout, a method of acquiring a company
Lithium triborate (LiB3O5), substance
Left Business Observer, an economics newsletter published by Doug Henwood
Ladies Bowling Organization of Japan, a ladies-only professional bowling organization in Japan

by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Dec 15th, 2010 at 07:46:55 AM EST
[ Parent ]
You missed
Licensed Betting Office
Last Best Offer
Lying by Omission
and other, less relevant, ones.
by gk (gk (gk quattro due due sette @gmail.com)) on Wed Dec 15th, 2010 at 07:50:13 AM EST
[ Parent ]
TBG:
LBO may refer to:

large bowel obstruction
Leveraged buyout, a method of acquiring a company

Congratualtions to TBG! He got TWO correct answers. How is that for putting the "multiple" in "multiple choice"?

You see, leveraged buyout was the means, but now those who comprise the top end of the financial sector constitute the large bowel obstruction that is threatening the life of the economy. See also: Cork in the asshole of progress.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Dec 15th, 2010 at 02:14:15 PM EST
[ Parent ]
Bloomberg: Obama Meeting CEOs Today Shows Business President Who Delivers Their Gains
When President Barack Obama today holds his largest private meeting with chief executive officers since he entered the White House, he may find some of his corporate critics cheering.

Obama is generating more optimism among CEOs after a series of business-friendly decisions, such as extending Bush-era tax cuts and reaching a free-trade accord with South Korea, even as skepticism remains.

...

It has been several decades since a U.S. president held office during record corporate earnings while the stock market's benchmark Standard & Poor's 500 index climbed 46 percent in the 21 months since he was inaugurated, all at a time with no prospect that inflation or interest rates will surge anytime soon. Still, it's the tax and trade initiatives that may be changing attitudes.



Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Wed Dec 15th, 2010 at 09:14:25 AM EST
[ Parent ]
record corporate earnings while the stock market's benchmark Standard & Poor's 500 index climbed 46 percent in the 21 months since he was inaugurated

Good grief! They have depression-level un- and underemployment, and the stock market posts a 20 % yearly gain. That has to be a Ponzi market.

This will end in tears.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Dec 16th, 2010 at 10:18:18 AM EST
[ Parent ]
 WORLD 


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 12:47:42 PM EST
Richard Holbrooke dies: Veteran U.S. diplomat brokered Dayton peace accords

Longtime U.S. diplomat Richard C. Holbrooke, whose relentless prodding and deft maneuvering yielded the 1995 Dayton peace accords that ended the war in Bosnia - a success he hoped to repeat as President Obama's chief envoy to Afghanistan and Pakistan - died Monday in Washington of complications from surgery to repair a torn aorta. He was 69.

A foreign policy adviser to four Democratic presidents, Mr. Holbrooke was a towering, one-of-a-kind presence who helped define American national security strategy over 40 years and three wars by connecting Washington politicians with New York elites and influential figures in capitals worldwide. He seemed to live on airplanes and move with equal confidence through Upper East Side cocktail parties, the halls of the White House and the slums of Pakistan.

Obama praised him as "a true giant of American foreign policy who has made America stronger, safer and more respected. He was a truly unique figure who will be remembered for his tireless diplomacy, love of country, and pursuit of peace."



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:32:39 PM EST
[ Parent ]
The Washington Post article demonstrates that Holbrooke was the exemplary American diplomat. Diana Johnstone, who did comment a lot on the Balkan Wars, would agree with that, I suppose. She just adds some facets to his picture, and that of the United States.
Counterpunch - Question of the Day: Holbrooke or Milosevic: Who is the Greater Murderer?The Dayton Peace Accords were presented as a heroic victory for peace extracted by the brilliant Holbrooke from a reluctant Milosevic, who had to be "bombed to the negotiating table" by the United States. In reality, the U.S. government was fully aware that Milosevic was eager for peace in Bosnia to free Serbia from crippling economic sanctions. It was the Bosnian Muslim leader Alija Izetbegovic who wanted to keep the war going, with U.S. military help.

In reality, the U.S. bombed the Serbs in order to get Izetbegovic to the negotiating table. And the agreement reached in the autumn of 1995 was not very different from the agreement reached in March 1992 by the three ethnic groups under European Community auspices, which could have prevented the entire civil war, if it had not been sabotaged by Izetbegovic, who withdrew his agreement with the encouragement of the then U.S. ambassador Warren Zimmermann. In short, far from being the great peacemaker in the Balkans, the United States first encouraged the Muslim side to fight for its goal of a centralized Bosnia, and then sponsored a weakened federated Bosnia - after nearly four years of bloodshed which left the populations bereft and embittered.

The real purpose of all this, as Holbrooke made quite clear in To End a War, was to demonstrate that Europeans could not manage their own vital affairs and that the United States remained the "indispensable nation". His book also made it clear that the Muslim leaders were irritatingly reluctant to end war short of total victory, and that only the readiness of Milosevic to make concessions saved the Dayton talks from failure - allowing Holbrooke to be proclaimed a hero.

The functional role of the Holbrooke's diplomacy was to prove that diplomacy, as carried out by Europeans, was bound to fail. His victory was a defeat for diplomacy. The spectacle of bombing plus Dayton was designed to show that only the threat or application of U.S. military might could end conflicts.

Milosevic had hoped that his concessions would lead to peace and reconciliation with the United States. As it happened, his only reward for handing Holbrooke the victory of his career was to have his country bombed by NATO in 1999 in order to wrest from Serbia the province of Kosovo and prepare Milosevic's own fall from office. Holbrooke played a prominent role in this scenario, suddently posing shoeless in a tent in the summer of 1998 for a photo op seated among armed Albanian secessionists which up to then had been characterized by the State Department as "terrorists", and shortly thereafter announcing to Milosevic that Serbia would be bombed unless he withdrew security forces from the province, in effect giving it to the ex-terrorists transformed by the Holbrooke blessing into freedom fighters.

by Humbug (mailklammeraffeschultedivisstrackepunktde) on Wed Dec 15th, 2010 at 02:21:27 PM EST
[ Parent ]
SteveLendmanBlog: Haiti's Electoral Council Tries Alternate Ways to Legitimize Fraud
Haiti's Electoral Council Tries Alternate Ways to Legitimize Fraud - by Stephen Lendman

It's almost surreal following Haiti's November 28 elections, a process elevating fraud to a new level. So bad, in fact, most candidates demanded voiding it and starting over, but no matter. On December 9, New York Times Deborah Sontag headlined, "Haitian Vote Results to Be Reviewed," saying:

"Seeking to defuse the violent protests that have shut down this country for two days, Haiti's electoral council (CEP) promised....to rapidly review the widely mistrusted preliminary results...."


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:33:18 PM EST
[ Parent ]
Haiti's leading candidate speaks against council: "Now we are in a situation which has no relation whatsoever either with the constitution or to the electoral law," Manigat said. "I would like to see my country heading for a true democracy, and I am personally concerned about the whole situation."


"Beware of the man who does not talk, and the dog that does not bark." Cheyenne
by maracatu on Tue Dec 14th, 2010 at 06:25:46 PM EST
[ Parent ]
Shelter manager detained for selling homeless as forced labour - Monsters and Critics

Beijing - Police in south-western China have arrested the manager of a private shelter for the homeless on charges of selling residents, some of whom were mentally disabled, as forced labourers at a remote factory, state media said on Tuesday.

Zeng Lingquan was arrested on Monday for allegedly selling 11 residents of his centre in Quxian county, Sichuan province, to the Jiaersi Green Construction Material Chemical Factory in the far western region of Xinjiang, state media said.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:36:07 PM EST
[ Parent ]
Afghan Ultra-Violence: Petraeus Triples Air War | Danger Room | Wired.com

November is ordinarily the month when the air war in Afghanistan -- and really, the whole American-led campaign -- ratchets down for the winter. This November, with Gen. David Petraeus in charge of the war effort, things have been different. Radically different. NATO fighter jets and attack planes launched their bombs and missiles on 850 separate missions this November. That's three-and-a-half times the number of attack sorties they flew in November 2009.

It's another sign of the bloody turn the Afghan conflict has taken since Petraeus took over. Petraeus unleashed special operations forces, who have killed or captured thousands of militants. His generals relied on massive surface-to-surface missiles to clear the Taliban out of Kandahar, and ordered tanks to help crush opponents in Helmand province. And then there's the metastasizing air war.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:36:54 PM EST
[ Parent ]
Romney: Workers Should Pay Their Own Unemployment Benefits | TPMDC

Mitt Romney has a solution to America's unemployment problems. Rather than giving Americans government help when they lose their jobs (help which he says will keep them unemployed), Romney suggests workers pay for their own unemployment insurance. The government, on the other hand, should spend its money spurring companies into making new jobs.

As part of a sharply-worded attack on the Bush tax cut extension compromise published in today's USA Today, Romney states his case that the extended unemployment insurance contained in the compromise will keep those out of work from looking for new jobs. In its place, Romney suggests "individual unemployment savings accounts over which employees would exercise direct control when they lose their jobs."



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:07:24 PM EST
[ Parent ]
Palestinians to Mitchell: U.S. must demand talks based on 1967 borders - Haaretz Daily Newspaper | Israel News

In a meeting with U.S. envoy George Mitchell in Ramallah on Tuesday, Palestinian President Mahmoud Abbas expressed his disappointment with the United States for failing to declare that talks on borders with Israel will be based on 1967 lines.

Abbas said he was upset that Mitchell insisted that border negotiations won't necessarily be based on 1967 lines, a term former prime ministers Ehud Barak and Ehud Olmert committed to in the past.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:16:29 PM EST
[ Parent ]
'Technical error prevented Palestinian firefighters from entering Israel for ceremony' - Haaretz Daily Newspaper | Israel News

The department for coordinating government activities in the territories expressed their regret for refusing entry to Palestinian firefighters who had helped fight the massive Carmel forest fire, blaming it on a 'technical error.'

In a public statement, the department requested that the incident not spiral into a scandal or "be blown out of proportion."



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:18:10 PM EST
[ Parent ]
Chavez to pass laws by decree - Americas - Al Jazeera English

Hugo Chavez, the Venezualan president, has announced plans to pass laws by decree for the next six to 18 months.

Chavez says that he needs the fast-track powers to deal effectively with a major national crisis caused by rains that have left 130,000 people homeless, devastated crops and damaged roads.

Opponents fear he will use the powers to legislate in areas unrelated to the crisis sparked by rains.

They say Monday's presidential announcement would effectively eliminate any chance for the opposition to influence national politics for the next few months.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:23:20 PM EST
[ Parent ]
VENEZUELA - More Protests - and More Crackdowns: "The criminalisation of social protests, using the justice system, has been growing since 2005. At present, more than 2,400 people are facing prosecution for exercising their right to peaceful protest," lawyer Mariana Belalba, lead author of the study, told IPS. This coincides with a steady rise in the number of protests: between October 1999 and September 2010, there were 19,250 street protests in Venezuela. The annual average grew from 1,200 to 1,500 protests in the early 2000s to nearly 2,900 in 2008-2009 and to roughly 3,300 for 2009-2010, Belalba said.

Brasil: The VSB-30 V07 rocked developed with Brazilian technology at the Aeronautics and Space Institute (IAE) was launched from Brazil's Alcantara space launching base, close to the equator, in the state of Maranhao, according to an official report from the Brazilian Air Force. The rocket took off at 12:35 local time and reached 242 kilometres altitude. Following an 18 minute flight, as was planned the VSB 30 V07 dropped into the Atlantic 145 kilometres from Alcantara. The experiment was tracked all along its flight, points out the release.

PORT-AU-PRINCE - A total of 2,323 people have died and 104,614 have been sickened so far in the cholera epidemic besieging Haiti since mid-October, authorities said Monday.

SANTO DOMINGO - Four more cholera cases have been registered in the Dominican Republic, raising the total number of cases in the Caribbean country to 32, the Public Health Ministry said.


"Beware of the man who does not talk, and the dog that does not bark." Cheyenne
by maracatu on Tue Dec 14th, 2010 at 09:20:46 PM EST
[ Parent ]
Thanks for this maracatu!
by Nomad on Wed Dec 15th, 2010 at 04:40:17 AM EST
[ Parent ]
TPM.
Before the midterms, conservative leaders were warning that they'd force a showdown over federal spending much earlier than expected: in the lame duck session, before the newly elected Republicans come to Washington.

They weren't joking. Republican and Democratic leaders are now engaged in a brinksmanship that could result in a temporary shutdown of the federal government. After the election, Republicans voted among themselves to eschew all earmarks for two years, and now they have to make good on their pledge. Yesterday, Democrats' chief appropriator, Sen. Daniel Inouye (D-HI) unveiled what's known as an omnibus spending bill -- a bundled up package of appropriations legislation, earmarks, and other measures -- which would keep the government running for a year.

In response, most Republicans -- even those whose multimillion dollar earmark requests are included in the legislation -- are saying, "Hell no you can't!"

That puts them all in an awkward position. At a press conference this morning, Sens. John Cornyn (R-TX) and John Thune (R-SD) were at pains to explain away why they requested earmarks that appear in the bill they're now railing against. But it also sets the two parties up for a standoff -- and one side must blink by this weekend, or the lights will start going out in the federal government.

Does a federal government shutdown now include the TSA? Will commercial flights be halted just in time for Christmas? Or will the Democrats give in as usual? (I presume they would if they could, but I'm not sure how they  could do it)
by gk (gk (gk quattro due due sette @gmail.com)) on Wed Dec 15th, 2010 at 03:35:04 PM EST
[ Parent ]
 LIVING OFF THE PLANET 
 Environment, Energy, Agriculture, Food 


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 12:48:04 PM EST
The IPCC's Worst Year Ever? | Mother Jones

It's been a rough year for the the Intergovernmental Panel on Climate Change, the international body responsible for assessing the latest science on global warming. The group has faced criticism--some fair, some much less so--from all sides.

First there was the release ahead of last year's climate negotiations of more than 1,000 emails between climate scientists--many of them involved in writing the IPCC's reports--that climate doubters excerpted and cherry-picked in order to smear the entirety of the group's work. And in January, a few errors were spotted in the IPCC's 2007 report--most notably, scientists significantly overestimated the speed at which the Himalayan glaciers are melting. They were relatively minor errors in the 1,000 pages of the last assessment, but were spun into an all-out war on the IPCC's work.  



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:36:27 PM EST
[ Parent ]
BBC News - Nine electric cars will be eligible for subsidies

Details have been released of the first nine electric cars that will be eligible for grants of up to £5,000 in a government subsidy scheme.

Under the £43m initiative that starts on 1 January, buyers will get a 25% discount up to the maximum £5,000.

However, only three of the nine cars will be immediately ready for delivery, with others following as late as 2012.

The government also said that a further five areas were to install charging points after bidding for funds.

The additional locations getting a share of £20m to build plug-in points are the Midlands, Greater Manchester, the east of England, Scotland, and Northern Ireland.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:57:26 PM EST
[ Parent ]
Supertanker owners say Israel rejected initial offer for firefighting plane - Haaretz Daily Newspaper | Israel News

Representatives of the American company Evergreen, owners and operators of the 'supertanker' jet, claim that they had already offered their services to the Israeli Foreign Ministry on the first day of what would become the massive Carmel forest fire, but that their offer of aid had been refused.

Yoram Gavron, representative of Evergreen in Israel, told Israel Radio in an interview on Tuesday that he relayed the offer after he received approval from the president of the company in the United States.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:17:22 PM EST
[ Parent ]
Huhne backtracks on bank for green projects | Politics | The Guardian

The government's environmental bank is likely to be scaled back to begin life as a fund, jeopardising billions of pounds of badly-needed loans to green technology. 

The green investment bank (GIB) was devised by the chancellor, George Osborne, when in opposition as crucial to the development of green energy projects such as clean coal plants and offshore wind farms in the UK.

Now the cabinet minister in charge of seeing the plan come to fruition - a devoted ambassador for the idea of a bank - has floated the possibility of a staggered introduction.

This would see it initially set up as a more limited fund unable to raise finance by issuing "green bonds" to back green projects.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 05:12:49 PM EST
[ Parent ]
 LIVING ON THE PLANET 
 Society, Culture, History, Information 


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 12:48:25 PM EST
C4 Newsroom blogger (channel4news) on Twitter
Julian Assange's supporters couldn't get into courtroom because there were too many journalists inside - #c4news http://bit.ly/h6VdHX


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:34:12 PM EST
[ Parent ]
Twitter allowed during bail hearing | Law | The Guardian

The judge hearing Julian Assange's application broke new ground today by letting reporters use Twitter and other electronic means to update the outside world on developments in court.

Usually courts in England and Wales frown upon journalists using electronic devices in hearings. But senior district judge Howard Riddle decided to relax the rules, officials at City of Westminster magistrates court confirmed, just before the hearing began. Some journalists tweeted, others texted and emailed developments.

Without permission, such communications could amount to contempt of court. For instance, the use of phones is banned, though some reporters have developed a tactic of concealing a phone under a notebook while texting developments in court back to their newsrooms.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 05:24:23 PM EST
[ Parent ]
Attempts to prosecute WikiLeaks endanger press freedoms - Glenn Greenwald - Salon.com

But if current reports are correct -- that the Obama DOJ has now convened a Grand Jury to indict WikiLeaks and Julian Assange -- this will constitute a far greater assault on press freedom than anything George W. Bush managed, or even attempted.  Put simply, there is no intellectually coherent way to distinguish what WikiLeaks has done with these diplomatic cables with what newspapers around the world did in this case and what they do constantly:  namely, receive and then publish classified information without authorization.  And as much justifiable outrage as the Bush DOJ's prosecution of the AIPAC officials provoked, at least the actions there resembled "espionage" far more than anything Assange has done, as those AIPAC officials actually passed U.S. secrets to a foreign government, not published them as WikiLeaks has done.

To criminalize what WikiLeaks is doing is, by definition, to criminalize the defining attribute of investigative journalism.  That, to be sure, is a feature, not a bug, of the Obama administration's efforts. 



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:35:43 PM EST
[ Parent ]
Opinio Juris » Blog Archive » Rare Honesty About WikiLeaks and American Exceptionalism
Courtesy of Ben Wittes at Lawfare, responding to a question about whether he believes that, if America should be permitted to prosecute a non-American like Assange for disclosing American secrets, countries like France, China, or Iran should be able to prosecute Americans for disclosing their secrets (my emphasis):


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 07:25:55 PM EST
[ Parent ]
Liz McLellan (hyperlocavore) on Twitter
RT @NiemanLab: Columbia Journalism School send letter to Obama warning of implications of prosecutions over #WikiLeaks http://bit.ly/eCDmZa


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 07:27:05 PM EST
[ Parent ]
WikiLeaks founder Julian Assange won't get fair trial in US, says David Hicks | The Australian

FORMER Guantanamo Bay inmate David Hicks says WikiLeaks founder Julian Assange will never receive a fair trial if he is handed over to US authorities.

Mr Hicks says he hopes the Australian government won't abandon Mr Assange, as they did with him.

He also says it's clear Mr Assange is the victim of a politically motivated campaign.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 07:28:14 PM EST
[ Parent ]
Williamsburg Regional Library: Hear this

Those of you who aren't local will have to forgive me as I use this blog to protest. But the situation here is probably being reproduced elsewhere in the country, thanks to budget cuts-and if anyone out there has any advice for me, I'd be most happy to hear it.

Today, I received this email from the library I have been using for my entire life. (Tiny bit of background: Charles City County, my home, has never had a library; just a bookmobile. The Williamsburg Regional Library, within the city limits, is our only local library.)



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:39:29 PM EST
[ Parent ]
Daily Mail column on student protester prompts 500 complaints to PCC | Media | guardian.co.uk

A Richard Littlejohn column in the Daily Mail that compared student fees protester Jody McIntyre to Matt Lucas's Little Britain creation Andy has prompted 500 complaints to the Press Complaints Commission.

Police launched an internal investigation after footage appeared to show McIntyre being pulled out of his wheelchair and dragged across the road by an officer during last Thursday's demonstration in central London.

Littlejohn said if McIntyre was "looking for sympathy he's come to the wrong place". Littlejohn described McIntyre as "like Andy from Little Britain" before imagining a spoof dialogue between McIntyre - as Andy - and David Walliams's Lou.

A BBC News channel interview with McIntyre also prompted a "considerable" number of complaints from viewers, who said interviewer Ben Brown asked inappropriate and "insensitive" questions.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:40:42 PM EST
[ Parent ]
WikiLeaks, web to revolutionize reporting: Pilger | Reuters

(Reuters) - Revelations on the WikiLeaks website which have enraged governments around the world should force the traditional media to rely less on official sources, award-winning journalist John Pilger said.

In an interview to discuss his film "The War You Don't See," the veteran Australian reporter told Reuters the internet, and more specifically WikiLeaks, would bring about a "revolution" in journalism which too often failed to do its job properly.

One reason the media did not challenge the U.S. and British governments' justification for going to war in Iraq in 2003, later shown to be misplaced, was their eagerness to believe the official version of events, Pilger argued



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:45:01 PM EST
[ Parent ]
BBC Sport - Football - Fifa boss Sepp Blatter sparks Qatar gay controversy

Fifa president Sepp Blatter says gay fans going to the 2022 World Cup in Qatar, where homosexuality is illegal, should "refrain from sexual activity".

When asked if he foresaw any cultural problems, Blatter, apparently joking, said: "I'd say they [gay fans] should refrain from any sexual activities."

Then, speaking seriously, he said he was sure there would be no problems.

Gay rights groups, already unhappy at the choice of tournament venue, say he should apologise or resign.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:14:56 PM EST
[ Parent ]
BREAKTHROUGH: First HIV-Positive Man Cured - KHQ Right Now - News and Weather for Spokane and North Idaho |

KHQ.COM - On the heels of World AIDS Day comes a stunning medical breakthrough: Doctors believe an HIV-positive man who underwent a stem cell transplant has been cured as a result of the procedure.

Timothy Ray Brown, also known as the "Berlin Patient," received the transplant in 2007 as part of a lengthy treatment course for leukaemia. His doctors recently published a report in the journal Blood affirming that the results of extensive testing "strongly suggest that cure of HIV infection has been achieved."

While Brown is the first person to ever be declared cured of HIV, his case paves a path for constructing a cure for HIV through genetically-engineered stem cells.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:32:22 PM EST
[ Parent ]
rejectamentalist manifesto

The scene: a mass demonstration in Tehran/Harare/Rangoon/Pyongyang/&c. The police are filmed shoving a 20-yr-old demonstrator with cerebral palsy from her/his wheelchair & dragging her/him across the pavement, to the horror of onlookers. Footage of this event is sneaked out & publicised. Accordingly, Iranian/Zimbabwean/Burmese/North Korean/&c state broadcasters cannot ignore it. Forced to report it, they stress, however, that there `is a suggestion' that said demonstrator was `rolling towards the police'. 

The British & American media response can be imagined. Shock. Disgust at such overt & disgraceful victim-blaming. Sympathy for the young activist, who becomes an international hero. Revulsion at the outlet's patently ridiculous claims of `objectivity'. Bitter humour, perhaps, at the sheer Leviathan absurdity of the implied justification.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 04:33:49 PM EST
[ Parent ]
Jody McIntyre interview with BBC labelled 'appalling' - Business News - Business Review Europe
The BBC is facing a lot of criticism on online social media forums about the way in which BBC news correspondent Ben Brown interviewed student protester Jody McIntyre.

Jody McIntyre has cerebral palsy and was being interviewed by the BBC after footage emerged on YouTube of him being dragged from his wheelchair by police on two separate occasions at the anti-tuition fees protest on the 9th December 2010 in London.

The interview was shown on the 8 o'clock news on BBC News channel on the 13th December, and Ben Brown appears to be extremely confrontational towards McIntyre, accusing him of provoking officers by throwing objects, wheeling towards police and shouting abuse, despite their being no documented evidence of any of these actions on the footage.


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 04:35:36 PM EST
[ Parent ]
Civil service rewrites conventions on when prime minister should resign in hung parliament | Politics | The Guardian

Constitutional conventions have been rewritten to prevent an outgoing prime minister offering his or her resignation to the Queen before a new government has been formed.

Sir Gus O'Donnell, the head of the civil service, today published the first attempt to codify the rules of government into a "cabinet manual" that is being seen as the first step towards a written constitution. It sets out everything from the way cabinet should work to how governments are formed in the case of a hung parliament.

Compared to an earlier draft, the document makes it even more explicit that the Queen should be kept out of the formation of the new government in a hung parliament, to avoid accusations of political interference. But it also suggests that the situation whereby the losing prime minister can force the formation of a new government by offering his or her resignation before a coalition is fully formed should not occur again.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 05:14:22 PM EST
[ Parent ]
Insights Give Hope for New Attack on Alzheimer's - NYTimes.com
The first sign the disease is developing -- before there are any symptoms -- is a buildup of amyloid. And for years, it seemed, the problem in Alzheimer's was that brain cells were making too much of it.

But now, a surprising new study has found that that view appears to be wrong. It turns out that most people with Alzheimer's seem to make perfectly normal amounts of amyloid. They just can't get rid of it. It's like an overflowing sink caused by a clogged drain instead of a faucet that does not turn off.

That discovery is part of a wave of unexpected findings that are enriching scientists' views of the genesis of Alzheimer's disease.



"People only accept change when they are faced with necessity, and only recognize necessity when a crisis is upon them." - Jean Monnet
by Melanchthon on Tue Dec 14th, 2010 at 05:37:57 PM EST
[ Parent ]
Many Brain Tumor Patients Use Homeopathy, Alternative Treatments -- American Academy of Neurology

"The majority of people are turning to alternative treatments not because they are dissatisfied with their conventional care, but because they wish to add something beneficial to their care," Heese said.

From a list of reasons for using alternative treatments, the most commonly chosen responses were "to support conventional therapy," "to build up body resistance" and "to do something for the treatment by myself." The least commonly chosen responses were "because I am afraid of the conventional methods" and "because the physicians don't have enough time."

Of those who used alternative treatments, 39 percent used homeopathy, 31 percent used vitamin supplements and 29 percent used various psychological methods.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 06:37:14 PM EST
[ Parent ]
El Congreso apoya la propuesta de CiU de saldar la hipoteca con la entrega de la casa - Estrella DigitalThe Spanish Lower House supports CiU's proposal to settle mortgages by giving up the house - EstrellaDigital
El Pleno del Congreso ha apoyado esta tarde la moción, consecuencia de interpelación, del Grupo Parlamentario Catalán (CiU), tras incluir una enmienda consensuada con el PSOE, que emplaza al Gobierno a modificar la legislación hipotecaria para aumentar y mejorar la protección social de quienes son desahuciados al no poder hacer frente al pago de su hipoteca. Entre las medidas de CiU respaldadas por la Cámara destaca una para reforzar la salvaguardia de los sueldos y pensiones a quienes se embarga su residencia incrementado las cuantías fijadas actualmente como inembargables.This afternoon, the Congress Plenary supported the motion by the Catalan Parliamentary Grou (CiU), after including an amendment by the PSOE, asking the Government to modify the mortgage legislation to enhance and improve the social protection of those who are evicted not being able to keep up payments on their mortgage. Among the CiU's measures backed by the Chamber, one stands out reinforcing the protection of salaries and pensions of whose whose residence is repossessed by increasing the annual quantities set as safe from confiscation.

See yesterday's thread for background and explanation of terms.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Migeru (migeru at eurotrib dot com) on Wed Dec 15th, 2010 at 06:01:23 AM EST
[ Parent ]
 PEOPLE AND KLATSCH 


Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 12:48:58 PM EST
Security camera snaps naked man in Miss. cemetery

PICAYUNE, Miss. -- A man caught naked in a south Mississippi church cemetery says he was trying to take photographs of spirits. Robert Hurst told The Picayune Item newspaper that he shed his clothes because he believes skin is the best canvas to show spirits' orbs of energy.

The 47-year-old said he only intended to remove his shirt, but he took off all his clothes - a move he now calls "stupid."



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:33:41 PM EST
[ Parent ]
BBC News - Convicted judge swears and storms out of Carlisle court

A judge who swore and stormed out of court after being convicted of failing to keep her German Shepherd under control has been fined £2,500.

The dog, owned by Judge Beatrice Bolton who sits at Newcastle Crown Court, attacked a sunbathing student in his parents' Northumberland garden.

Bolton, 57, who was asked during the trial to stop chewing gum, denied one charge under the Dangerous Dogs Act.

Outside court she said she would appeal against her conviction.

A spokesman for the Judicial Office for England and Wales said the Lord Chief Justice and the Lord Chancellor would be considering her position as a judge.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 02:51:00 PM EST
[ Parent ]
Royal Mint to produce London 2012 Olympic medals

LONDON, Dec. 14 (Xinhua) -- Royal Mint will produce around 4,700 victory medals for the London 2012 Olympic and Paralympic Games, announced the London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) on Tuesday.

Royal Mint will make these medals at their headquarters in Llantrisant, South Wales.

Adam Lawrence, Chief Operating Officer at the Royal Mint, said that "As a UK manufacturer, this is great news for the country, the 800 people we employ and our suppliers."



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Dec 14th, 2010 at 03:21:04 PM EST
[ Parent ]
Time magazine's 2010 Person of the Year is ... - Today Celebrates 2010 - TODAYshow.com
The magazine's No. 2 runner-up after Zuckerberg was the Tea Party, a loose affiliation of American citizens united by their dislike of big government.

No. 3: Julian Assange, whose WikiLeaks organization has shared reams of sensitive diplomatic cables with the world. Referring to a poll of Time readers as to who should have been chosen, Stengel told Lauer and Vieira: "Assange won our poll by a great margin -- but of course, Lady Gaga was No. 2. We take all that into account."

No. 4: Hamid Karzai, the elected leader of the volatile nation of Afghanistan.

What a year it must have been...

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Wed Dec 15th, 2010 at 08:27:44 AM EST
[ Parent ]


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