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7 March 2014

by In Wales Thu Mar 6th, 2014 at 04:12:56 PM EST

Your take on today's news media


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by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:10:18 PM EST
+++Live updates of the crisis in Crimea+++ | News | DW.DE | 06.03.2014
The Crimea crisis continues to escalate, with the regional parliament voting to join Russia. Meanwhile, the EU has suspended talks with Russia on visa liberalization and threatened economic sanctions. Read updates here.
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:32:01 PM EST
[ Parent ]
Kharkiv torn between Europe and Russia | Europe | DW.DE | 06.03.2014

Ukraine's blue and yellow flag is flying again at Kharkiv's administrative headquarters in the country's east. A dozen police officers in full armor have been blocking off the building's entrance. Hundreds of security forces line up in the courtyard and on Kharkiv's Freedom Square; they are sitting in buses, some are standing at the roadside. Kharkiv's authorities want to show power.

Pediatrician and newly appointed governor Ihor Baluta, 43, has needed police protection since he took on the task of heading the regional administration in this part of eastern Ukraine. Just a few days ago, Baluta was part of the regional council - he was a member of opposition party Fatherland, led by former Prime Minister Yulia Tymoshenko. After the recent government change in Kyiv, former supporters of Tymoshenko have taken over many key positions in Ukraine.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:42:57 PM EST
[ Parent ]
As Ukraine descends into anarchy, I think it will cease to be much of a choice

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Mar 7th, 2014 at 02:57:14 AM EST
[ Parent ]
AFP.com

Europe's leaders on Thursday sharply condemned Russia's stand on Ukraine and warned it was readying targeted sanctions within days if Moscow failed to back off and join peace efforts.

Winding up six hours of tough talks to decide a joint response, the European Union's 28 leaders agreed a three-step series of sanctions beginning with the immediate halt of talks on easing visas for Russians as well as discussions over a new economic accord.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:00:57 PM EST
[ Parent ]
targeted meaning that they're aimed at ensuring that profit streams are unaffected.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Mar 7th, 2014 at 03:00:46 AM EST
[ Parent ]
AFP.com

Russian President Vladimir Putin is seeking to profit to the maximum from Ukraine's turmoil by implementing the de-facto annexation of Crimea at high speed to wrong foot an indecisive West, analysts said.

The ousting of the generally pro-Russian Ukrainian president Viktor Yanukovych was a major defeat for Putin and means that the ex-Soviet state is now swiftly aligning itself with the European Union in a historic switch away from the Kremlin.

But with Ukraine in chaos under its new pro-Western authorities, Putin is moving to seize Crimea, a region that most Russians believe only ended up in post-USSR Ukraine because of a catastrophic mistake by Nikita Khrushchev to make it part of the Soviet republic of Ukraine.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:01:33 PM EST
[ Parent ]
Ukraine crisis: Obama says Crimea referendum would 'violate international law' - live | World news | theguardian.com
  • Crimean parliament votes to join Russia
  • `A farce', says Ukrainian acting president
  • EU warns of sanctions `if Russia does not change course'
  • US imposes visa restrictions on Russian officials
  • Kerry gives Lavrov points to take to Putin
  • Read the latest blog summary
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:07:33 PM EST
[ Parent ]
Crimean Tatar Minority to Boycott Secession Vote | World | RIA Novosti

MOSCOW, March 6 (RIA Novosti) - The semi-formal government of the Crimean Tatars said Thursday that the ethnic minority will boycott the secession referendum set by the Ukrainian region's pro-Russian authorities.

Crimea's parliament set a popular vote for March 16 to decide whether the republic should join Russia or remain a part of Ukraine, possibly with increased autonomy.

But the Mejlis of the Crimean Tatar People, who constitute about 15 percent of the region's population of 2 million, calls to boycott the vote, the organization's head Refat Chubarov said.

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Mar 7th, 2014 at 02:41:12 AM EST
[ Parent ]
Former French President Sarkozy and wife suing over secret audio recordings | News | DW.DE | 06.03.2014

"Mr. Nicolas Sarkozy and Mrs. Carla Bruni-Sarkozy cannot accept that remarks made in private were recorded and published without their consent," lawyers Thierry Herzog and Richard Malka said in a statement.

"[They] have decided to prosecute, through an emergency proceeding soon to be filed with the Paris Grand Instance Court, the recording and publication of their conversations," they said.

Excerpts of the tapes were published this week in satirical weekly Le Canard Enchaine and news site Atlantico.fr. The transcripts were of conversations between Sarkozy and his aides that his former advisor Patrick Buisson secretly recorded from 2007-2012.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:36:16 PM EST
[ Parent ]
Patrick Buisson is a far-right journalist/activist who was Sarko's close advisor in those years. They are now no longer buddies.

The recordings concern politics and ministerial positions (who's in, who's out), so the Sarko couple's attempt to present this as an encroachment on their private life looks fairly specious.  

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Mar 7th, 2014 at 02:06:29 AM EST
[ Parent ]
German President Gauck dismisses Greek reparation demands for Nazi crimes | News | DW.DE | 06.03.2014

Joachim Gauck made his remarks following a meeting with his Greek counterpart, Carolos Papoulias, on Thursday in Athens.

The Greek government last year revived a demand for war reparations. It was acting under opposition and media pressure which had built up in the context of mounting resentment of Germany in connection with its role in combating Greece's ongoing economic crisis.

Painful austerity measures were implemented in Greece, which led to a dramatic rise in unemployment in the country.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:36:42 PM EST
[ Parent ]
Attacks on asylum shelters rise in Germany | Germany | DW.DE | 06.03.2014

In the Bavarian city of Fichtelberg on a Saturday afternoon in January 2014, a group of men pushed their way into a refugee shelter. Dressed in black and partially masked, the intruders stopped at the stairwell and began yelling, according to sources quoted in the local newspaper "Nordbayerische Kurier."

Nobody in the shelter, however, understood what the men were shouting as most of the refugees had just arrived in Bavaria and spoke no German. After the shouting, the black-clad group quickly left the refugee shelter.

Arson attacks, broken windows and racists slurs painted on buildings are among the rising number of right-wing acts of aggression against refugee shelters across Germany. The Federal Criminal Police (BKA) registered 59 right-wing offenses in 2013, more then twice as many as the year before.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:43:51 PM EST
[ Parent ]
Nationalism and unchecked violence in Bulgaria | Europe | DW.DE | 06.03.2014

Releasing a defendent on bail who faces murder charges can provoke protests in any country in the world. But this time, in Sofia, it's a different story. Last week, a man was released who is not only indicted for murder, but is seen as a symbol for a movement of racially motivated violence that has gone essentially unpunished in Bulgaria for some time now.

Last year, Petko Elenkov, a security guard, shot and killed a Roma teenager, who had allegedly jumped over the wall of a refrigerator depot in Sofia in order to steal scrap metal. Elenkov, 50, denies any wrongdoing. A year on, the trial still hasn't begun.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:45:33 PM EST
[ Parent ]
Oh jeez, Bulgaria really doesn't need that. The country is awash with weapons and if the courts suggest that it's okay to start shooting Roma, rest assured the roma will begin to shoot back

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Mar 7th, 2014 at 03:04:37 AM EST
[ Parent ]
EUobserver / EU leaders freeze Russia visa talks, threaten trade sanctions

BRUSSELS - EU leaders have suspended talks on visa-free travel with Russia and threatened asset freezes and economic sanctions if the situation in Ukraine gets worse.

The immediate cost of Russia's invasion of Ukraine's Crimea - described by UK Prime Minister David Cameron as "the one thing the Russians want more than anything with the EU" - is no quick prospect of Russian people visiting Europe without visas.

EU leaders also shelved talks on a new bilateral treaty with Russia, but these had all-but petered out before the current crisis.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:52:26 PM EST
[ Parent ]
EUobserver / Hard left and right set for gains in Sweden's EU vote

But it's not the May European elections that are causing the kerfuffle.

As in a number of EU countries they tend not to be a big deal in Sweden. Last time turnout was extremely low by Swedish standards, just 45 percent.

The lack of interest could be due to poor media coverage of EU affairs. Once candidates have been voted in, they seem to disappear completely, only to be heard of five years later for the next EU vote.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:53:44 PM EST
[ Parent ]
EUobserver / Hard left and right set for gains in Sweden's EU vote

No pollsters have yet asked Swedish voters how they plan to vote in the European elections

Untrue, there has been one poll.

EUobserver / Hard left and right set for gains in Sweden's EU vote

The Pirate party has been somewhat successful in the European Parliament but since few Swedish voters are aware of their work - due to a lack of media coverage - it is generally believed they will lose their seats.

Sadly, quite possible. Hard to tell form just one poll though, and having incumbents in the EP-election is giving the pirates more media space then in a long while.

And the picture of the national elections is pretty far off. The left bloc (soc-dems, greens and Left) polls just over 50% and has been so for a while. The right bloc is polling below 40%, and that is including at least one party below the 4% limit. Sweden Democrats (ugly) has been over 10% in the polls in between the elections, but since the election campaigns started they have been in decline. Having the tip of the scales position gave them media space during the otherwise boring legislative processes, but now the old parties are starting their campaigns extra early in order to cover the EP-election and the Sweden Democrats can't keep up.

I think the real question for parliament elections is if the soc-dems will need one (greens) or two (greens, left) coalition partner to secure a majority.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Fri Mar 7th, 2014 at 04:40:09 AM EST
[ Parent ]
EUobserver / Centre-right leaders to pick top EU commission candidate

Dublin - European centre right leaders are gathering in Dublin on Thursday and Friday (6-7 March) to select their top candidate for the post of European Commission President.

With the Ukraine crisis taking over the EU agenda and an EU emergency summit on the issue taking place on Thursday in Brussels, the Dublin congress of the European People's Party (EPP) is only due to start later this evening (6 March).

Ukrainian opposition leaders Yulia Tymoshenko and Vitali Klitschko, as well as the newly elected Prime Minister, Arsenyi Yatsenuk, are also expected to attend and speak at the EPP congress - a sign of support and recognition from Europe's largest political family.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:57:33 PM EST
[ Parent ]


Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 12:10:52 AM EST
[ Parent ]
http://www.acting-man.com/?p=29044#more-29044

Reductio ad Hitlerum

That didn't take long. First, Saddam was declared to be Hitler. Then, Ahmedinejad became Hitler. Thereafter, Gadaffi became Hitler. Not long after that, Assad became Hitler. And Kim Jong-Un has of course always been Hitler (it may have been more fitting to transform that one into Stalin). Hitler is everywhere!

We knew we should have taken bets on how speedily Putin's transformation into Hitler would be performed. Hillary Clinton evidently knows her Hitlers when she sees them. Oddly enough, rather obvious fascists like Tyagnybok and Yarosh are still getting a pass.

    "Vladimir Putin is a tough but thin-skinned leader who is squandering his country's potential, Hillary Clinton said on Wednesday, a day after she likened the Russian president's actions on the Crimean peninsula to those of Adolf Hitler in the 1930s."

 


Hillary...hmm.Next president of USA? Poor Americans...your future seem to be grim...

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 03:17:25 AM EST
[ Parent ]
They are all wrong. It's Yair Lapid who is Hitler.
Yated Ne'eman, the haredi daily newspaper that serves as a mouthpiece for `mainstream' non-hasidic haredi leadership, published a column today comparing Israel's Minister of Finance Yair Lapid to Adolf Hitler, the Israeli haredi website Shtieble.net reported.

Written by the paper's former editor, Chaim Walder, who is now a regular columnist, the column says that what Lapid is doing now by cutting government support of haredi schools that refuse to teach the country's core curriculum and by his demand that haredi yeshiva students be drafted into the military resembles what Hitler did to the Jews in the Holocaust.

by gk (gk (gk quattro due due sette @gmail.com)) on Fri Mar 7th, 2014 at 03:23:54 AM EST
[ Parent ]
Oh if Hitler never existed they would have to invent him...so telling...one word :Hitler ...and they don't need to tell anything else...

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 03:35:12 AM EST
[ Parent ]
A reminder:
A bill floating in Ukrainian parliament seeks tougher sanctions against holders of dual citizenship, which is forbidden in the country. Under the legislation, violators could be punished by a prison term of up to 10 years.
In the meantime
Igor Kolomoisky, 51, oligarch and Ukraine's third richest person with an estimated fortune of $2.4 billion, arrived in Dnipropetrovsk to take charge as the regional governor of the nation's second most populous oblast with 3.3 million people.
According to Wikipedia
Kolomoysky has a dual Ukrainian-Israeli citizenship although dual citizenship is not recognized by Ukraine and controls his business empire from Switzerland.
by gk (gk (gk quattro due due sette @gmail.com)) on Fri Mar 7th, 2014 at 06:28:48 AM EST
[ Parent ]
TPM
But I was interested to see this handy list of the countries of the world ranked by Internet speed. The US is 33rd in the world, aptly perhaps close tied with Russia at 34. So who's above us? It's an interesting mix of countries. A number of relatively small and fairly wealthy countries in Europe - not terribly surprising.

But some countries are kind of surprising. The post-Soviet countries of Moldova, Latvia, Estonia and Lithuania. Former Soviet Bloc countries like Bulgaria, the Czech Republic and Hungary. Particularly surprising is Romania, another former Soviet Bloc country, which is fairly economically backwards compared to a country like the Czech Republic. Romania is 3rd in the world with an average download speed of 56.69 Mbps. Since numbers 1 (Hong Kong) and 2 (Singapore) are basically city states (which makes dramatic infrastructure changes inherently easier), it's fair to say that Romania has the fastest internet in the world in nation-state terms. (Macau seems to be benefitting from the same effect, clocking in at 40.25).

by gk (gk (gk quattro due due sette @gmail.com)) on Fri Mar 7th, 2014 at 06:39:43 AM EST
[ Parent ]
Here in Australia it's horrible.I know it's a big country , it's expensive but it is not excuse.I am ashamed when I come to Serbia and even my mother in law has cable tv and cable internet.We live in a big city and unless you go with Telstra (where they will rip you of but internet still not fast enough) otherwise you'll have to suffer a lot. I am with TPG (American , Texas owners...interestingly Americans just bought second big internet provider in Serbia, so huh yes "we all live in America") there are days when I can't simply use internet at all, that slow it is. I can imagine how people in remote areas may be angry. Labor started to built optic cable for whole Australia but conservatives came to power and  decided that it is to expensive and will select areas to put it.They may bring cable in area where I live but they said they are going to ask $5000 just as a connection fee. Thank you very much, but no thank you...

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 07:48:43 AM EST
[ Parent ]
http://www.theguardian.com/world/2014/mar/07/ukraine-crisis-putin-russia-crimea-us-eu-sanctions-live -updates
11.22am GMT

My colleague in Paris, Kim Wilsher, sends this on France's slightly ambiguous current relations with Russia:

    France will not send a minister to the Sochi Paralympics...but will deliver two state-of-the-art warships to Russia, despite the Ukraine crisis, French president François Hollande has confirmed.

    The controversial deal - and it was controversial even before the Crimea crisis - involves France handing over two Mistral vessels. These are 22,000-tonne warships capable of carrying 16 helicopters, four landing craft, 13 battle tanks and up to 450 soldiers, and giving the ageing Russian naval fleet the capacity for a quick sea response.

    The deal, worth €1.2bn, was criticised by several of Paris's NATO allies back in 2011 after Russia invaded Georgia in the Caucasus in 2008, leading to what became known as the Five-Day War.

    This week the first of the two ships, named the Vladivostok, left the French Atlantic port of Saint Nazaire for sea trials. "We respect our signed contracts," Hollande said. The other vessel will be called Sebastopol, which is of course in Crimea.

    France's reluctance to use the ships as a bargaining chip against Moscow, has cast doubt on Paris's determination to back tough sanctions to force Russia to respect Ukrainian territorial integrity.


Business is business !  Business first!In the end that's why we were and still are friends with so many dictators around the globe...


Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 06:53:55 AM EST
[ Parent ]
http://nahnews.com.ua/yarosh-demands-to-open-military-warehouses-for-the-right-sector/

Yarosh demands to open military warehouses for the Right Sector
07.03.2014 11:23   In Ukraine, Politic, regions, Top news   No comments
yarosh

According to ITAR-TASS with the reference to the source in the Ministry of Defense of Ukraine, the leader of a radical nationalist union the Right Sector Dmitriy Yarosh requires access for his alignment to military warehouses as an ultimatum.

According to the source of the agency, Yarosh believes that security, defense and law enforcement agencies of Ukraine "are not able to bring order in the country and to eliminate anti-Maidan protests in eastern and southern regions of Ukraine."

Therefore, the leader of the Right Sector requires leadership of Ukraine to provide the alignment with weapons, military equipment, and a several military training centers in order to train fighters, who "will have to participate in security of the territorial integrity of Ukraine".

In the case leadership of Ukraine does not fulfill requirements of fighters the Right Sector is ready for radical actions on the territory of the country.

According to Ukrainian mass media the Prime Minister of Ukraine Arseniy Yatsenyk dismissed heads of the Ministry of Defense of Ukraine because they did not support the idea of giving the fighters of the Right Sector the status of regular militarized sub-units.

Specifically, the first deputy minister of defense of Ukraine Alexandr Oleynik, as well as Deputies Vladimir Mozharovskiy and Arturo Francisco Babenko were dismissed.

According to the military personnel, the legislative adoption of this initiative will lead to the final split of the society and the country, as well as to anarchy and chaos.



Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 09:28:19 AM EST
[ Parent ]
The Secretary General of NATO Anders Fogh Rasmussen during the meeting with the Prime Minister of Ukraine in Brussels stated that the North Atlantic Treaty Organization (NATO) would liven up its interaction with political and military leadership of Ukraine.

I just had a thought that NATO can give them a training (seems like they already gave them some).Good luck to Nato with these maniacs.

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 09:37:17 AM EST
[ Parent ]
http://nahnews.com.ua/it-has-been-reported-that-yanukovych-had-a-heart-attack-and-is-in-critical-con dition/

Several mass media have reported that Viktor Yanukovych was hospitalized in critical condition in one of the hospitals of Moscow.

He is suspected to have had a heart attack.
There has been no official confirmation of the news.



Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Fri Mar 7th, 2014 at 09:45:53 AM EST
[ Parent ]
Russia reserves the right to intervene in Ukraine, says Putin | euronews, world news
Putin confirmed that Yanukovych was alive and well, despite rumours that he had suffered a heart attack. He added that if Yanukovych had remained in Ukraine he would have been killed.
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Mar 7th, 2014 at 10:15:11 AM EST
[ Parent ]


A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Fri Mar 7th, 2014 at 09:52:17 AM EST
[ Parent ]


A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Fri Mar 7th, 2014 at 10:00:27 AM EST
[ Parent ]
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:10:38 PM EST
Deutsche Telekom logs full-year profit after period of loss-taking | Business | DW.DE | 06.03.2014

Deutsche Telekom said Thursday it had fully met its 2013 targets, thus living up to expectations by analysts who'd penciled in earnings after years of bottom-line losses.

The company reported a net profit of 930 million euros ($1.3 billion) for last year, compared with a bottom-line loss 5.35 billion euros in 2012.

"We reached our financial targets for 2013, and building on our success last year, we plan to invest further in growth," the company's new Chief Executive, Tim Höttges, said in a statement.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:32:41 PM EST
[ Parent ]
ECB sees 'no reason to act' on inflation and growth | Business News | DW.DE | 06.03.2014

The European Central Bank (ECB) would leave its benchmark refinancing interest rate unchanged at 0.25 percent, the central bank for the euro currency area announced Thursday.

, economic and monetary conditions in the eurozone had not changed enough to warrant a higher or lower rate.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:33:39 PM EST
[ Parent ]
EUobserver / Italy and France on EU's economic 'watch list'

BRUSSELS - Italy and France were the major euro area countries put on the European Commission's economic "watch-list" over fears about persistently high debt and deficit levels.

The two countries were among 14 nations deemed to have "macro-economic imbalances" in their economy by the EU executive in a series of reports on 17 countries published on Wednesday (5 March).

Italy "must address its very high level of public debt and weak external competitiveness," the commission said, adding that its economy is hamstrung by "a continued misalignment between wages and productivity, a high labour tax wedge, an unfavourable export product structure and a high share of small firms which find it difficult to compete internationally."

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:56:15 PM EST
[ Parent ]
So good to see the Commission knows the words "macro-economic imbalances".
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Mar 7th, 2014 at 02:09:02 AM EST
[ Parent ]
Welcome to NeoLiberalitania. One hedge fund: one vote.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Mar 7th, 2014 at 06:03:59 AM EST
[ Parent ]
AFP.com

First-time claims for US unemployment benefits fell last week to a three-month low but remained little changed from a year ago, according to official data released Thursday.

Initial jobless claims totaled 323,000 in the week ending March 1, a decline of 26,000 from the prior week's revised reading of 349,000, the Labor Department said.

It was the lowest level of claims, a sign of the pace of layoffs, since the last week of November.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:02:10 PM EST
[ Parent ]
Historical realities and 50% profit growth Lance Roberts (H/T Ed Harrison)

The chart below shows corporate profits, per the BEA, divided by GDP. (You can substitute GNP but the result is virtually identical between the two measures.)

The current levels of profits, as a share of GDP, are at record levels. This is interesting because corporate profits should be a reflection of the underlying economic strength. However, in recent years, due to financial engineering, wage and employment suppression and increase in productivity, corporate profits have become extremely deviated.

By way of context Lance Roberts quotes John Hussman:

    "I've noted frequently that after-tax corporate profits as a share of national income are about 70% above historical norms; that these profit shares are heavily mean-reverting and strongly (inversely) associated with subsequent profit growth over the following 3-4 year period; and that the current surplus of corporate profits is the mirror-image of corresponding deficits in household and government savings (a relationship detailed in prior weekly comments). Recent profits data, as well as the entire historical record, are tightly explained by these factors.

    Notably, this data is derived from the national income accounts computed by the Bureau of Economic Analysis, and it's worth understanding how the BEA computes profits. Specifically, the BEA points out, `Because national income is defined as the income of U.S. residents, its profits component includes income earned abroad by U.S. corporations and excludes income earned in the United States by foreigners.'"


"...these profit shares are heavily mean-reverting and strongly (inversely) associated with subsequent profit growth over the following 3-4 year period;"

Presuming that the large corporates are also aware of this we can see what their large cash positions are for.

Unless 'this time is different' --- Watch out below!

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

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Mar 6th, 2014 at 11:28:14 PM EST
[ Parent ]
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:10:55 PM EST
NATO airstrike kills five Afghan soldiers | News | DW.DE | 06.03.2014

"At 3:30 a.m. this morning, due to a NATO airstrike in Charkh district, Logar province, five service members of the Afghan national army were martyred and eight others were wounded," defense ministry spokesman Zahir Azimi wrote on his Twitter account Thursday.

NATO's International Security Assistance Force (ISAF) confirmed in a statement that "five personnel were accidentally killed this morning during an operation in eastern Afghanistan."

"An investigation is being conducted at this time to determine the circumstances that led to this unfortunate incident," the statement said. "Our condolences go out to the families of the ANA soldiers who lost their lives and were wounded."

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:35:21 PM EST
[ Parent ]
It's difficult to even be surprised by such events. this is what occupying powers do, they are careless with the lives of those they "protect"

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Mar 7th, 2014 at 03:07:59 AM EST
[ Parent ]
Niger extradite Gadhafi's son Saadi, Libya says | News | DW.DE | 06.03.2014

Libya's interim government had been seeking the extradition of Saadi, who took refuge in the country's southern neighbor Niger after the 2011 NATO-backed uprising that toppled his father.

Libyan authorities thanked the Niger government for its cooperation in handing over Saadi and promised he would be treated "in accordance with international law."

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:35:51 PM EST
[ Parent ]
Sarin gas in attack on Syrian civilians probably government's, says UN | World news | theguardian.com

The Syrian opposition has seized on a UN finding that sarin used in a devastating chemical strike last August was likely to have come from the regime's supplies of the weapon as proof that loyalist forces carried out the attack.

The claim was made in a report about human rights abuses released by the global body on Tuesday, which condemned a wide array of atrocities committed throughout the three-year war.

Describing the attack on the Ghouta district near Damascus, the report said: "The perpetrators likely had access to the chemical weapons stockpile of the Syrian military, as well as the expertise and equipment necessary to manipulate safely large amount of chemical agents."

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:04:26 PM EST
[ Parent ]
Chinese police arrest 45 for 'spreading rumours' online after knife attack | World news | theguardian.com

Chinese police have arrested 45 people for "spreading rumours" online in the wake of Saturday's horrific knife attack at a Chinese train station.

The suspects have been arrested for "deliberately creating a panicked mood and disturbing social order, and will be dealt with according to the law and punished by public security", a branch of the country's public security bureau posted to its official microblog on Thursday, without providing further details.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:06:09 PM EST
[ Parent ]
Big Victory for Chevron Over Claims in Ecuador, (NYT): ...Tuesday, Chevron won a major victory. A federal judge in Manhattan ruled that a two-decade legal effort to punish the company was marred by fraud and corruption, making it increasingly likely that the oil company would be ultimately successful in beating back the legal and financial challenge.

Venezuela:
Miami Herald: President Barack Obama's administration is considering imposing sanctions on Venezuelan officials culpable in that nation's repression and who travel to and hold bank accounts in the United States, U.S. Rep. Debbie Wasserman Schultz said Monday.
NYT, CARACAS, Venezuela -- Thousands of Venezuelans mourned the passing of President Hugo Chavez on the first anniversary of his death Wednesday, while National Guard troops fired tear gas and rubber bullets at anti-government activists who pressed on with street protests despite the commemorations. Chavez's successor, President Nicolas Maduro, angrily announced that he would break off relations with Panama, which he accused of being a "lackey" of the U.S. in what he has repeatedly called a conspiracy to topple his government through the daily protests that have left at least 18 dead since mid-February.
El Nacional: College Students formed the Patriotic and People's Board, which calls for the immediate disarmament of Chavista collectives and discards dialogue with the government. (...) Leader Gaby Arellano reported that on March 8 massive demonstrations would be held nationwide to honor women who have been killed during the protests. The youth rejected the visit of President of Cuba, Raul Castro, and demanded that he leave.
See also The "Street Strategy" Deepening Venezuela's Troubles.

Colombia:
Colombia Reports: The Justice and Peace Law which was intended to bring truth, justice and reparation to the victims of paramilitary death squads has not achieved its goal, according to Colombia's supreme court.
Colombia Reports: A unit of the Prosecutor General's Office at Cali's High Court has made an indictment against a Colombian army Colonel for his alleged involvement in the murder of 24 people, local media reported on Thursday.
See also Guerrillas Claim Responsibility for Attack on Colombian Candidate.

Tim's El Salvador Blog: In a partnership between the University of Texas at Austin and the Museum of Word and Image in San Salvador, you can now listen to archived recordings of the broadcasts of Radio Venceremos during the civil war years.   Radio Venceremos was the clandestine radio station of the FMLN guerrillas and sought to encourage the revolutionary movement in the country.


"Beware of the man who does not talk, and the dog that does not bark." Cheyenne
by maracatu on Thu Mar 6th, 2014 at 09:59:54 PM EST
[ Parent ]
The Forward
This upcoming tax season entails some unpleasant surprises for United States citizens who either live in Israel or who hold bank accounts there.

Filing requirements for these Americans have become more rigorous and the odds of being audited by the Internal Revenue Service are higher than they've ever been. In fact, tax accountants working in Israel estimate that almost every American expatriate living in Israel and filing for a child tax credit in their annual return can expect an audit.

[...]

For these families, some with eight or 10 children under the age of 17 and with very little income from work, the preparers helped submit fraudulent returns, stating false income from work in Israel. In other cases, they requested credit for children who were not recognized as United States citizens.

While there is no clear indication regarding the identity of the false tax filers, the tax preparers' use of Orthodox community newspapers to advertise their services suggests that this was their target audience. The profile of large American families with low earned income living in Israel also fits that of members of the Haredi, or ultra-Orthodox, community. According to Israeli government data, Haredi families in Israel have 6.7 children on average. A 2010 study conducted by Israel's Ministry of Trade, Commerce and Labor found that the income of an average Haredi household is roughly half that of the Israeli general population.

by gk (gk (gk quattro due due sette @gmail.com)) on Fri Mar 7th, 2014 at 01:28:22 PM EST
[ Parent ]
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:11:16 PM EST
Remote Scottish island runs on green 'Eiggtricity' | Environment | DW.DE | 06.03.2014

It's a sunny afternoon on the island of Eigg, off Scotland's north-west coast. The sun's bright rays are good news for Eddie Scott. The island's electricity expert looks after the island's state-of-the-art renewable energy scheme.

"The system has been running about five years and it works at an average of about 85 percent from renewables and 15 percent from the generators," Scott explains.

Before the introduction of "Eiggtricty," as people call it around here, the hundred or so residents on Eigg got all of their power from diesel generators that were noisy, polluting and expensive to run.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:46:36 PM EST
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Will fossil fuels melt the global economy? | Environment | theguardian.com

The world's financial system is at risk of bursting under the weight of massive over-capitalisation in fossil fuel reserves, according to three reports released in the past 24 hours.

Previous research has shown three quarters of the world's listed reserves of carbon producing fuels must stay in the ground if the world is to avoid calamitous climate change. The reports, released by the UK government's Environmental Audit Committee (EAC), the Australia Institute/350.org and the EU Parliament Greens-European Free Alliance Group, say this has created an overvaluation of the companies who hold these resources. This is known as the `carbon bubble'. All three reports said short term risk was exposing the world's financial system to unsupportable risk.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:08:45 PM EST
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UK floods: government offers £20m for Somerset Levels plan | Environment | theguardian.com

The UK government will back a 20-year flood action plan for the Somerset Levels with £20m, environment secretary Owen Paterson announced on Thursday.

However, the funding falls far short of the expected £100m total cost of the plan, which includes a tidal barrage across the River Parrett costing £30m, as well as river dredging and raising the level of roads to prevent communities such as Muchelney being cut off by floods.

Paterson, who offered his deepest sympathy to those who suffered flooding during the wettest winter on record and praised the tireless efforts of those responding, said: "The challenge for the coming months will be to identify which of several longer-term priorities to take forward, and their specific funding streams." He said the value-for-money of the projects would be compared with those in other parts of the country.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:09:57 PM EST
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Some estimates have suggested £100 million for all the plans for somerset.

£20 million over 20 years is a drop in the ocean if they want to get schemes up and running quickly.

But Owen Paterson would be out of his depth in a puddle, let alone the dept of the Environment

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Mar 7th, 2014 at 03:10:40 AM EST
[ Parent ]
Rhino with hacked-off horn filmed in South African safari park | Environment | theguardian.com

Tourists in South Africa's Kruger national park, last week filmed grisly footage of a white rhino that has had its horn hacked off.

The injuries are believed to have been inflicted by poachers hunting for lucrative ivory.

The YouTube clip, filmed on 28 February, shows the rhino stopping on the road in front of the tourists' vehicle, appearing to be disoriented and unsteady, before wandering off into the long grass. Its horn has gone, leaving a bloody mess on its nose, and one eye appears to be badly injured.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:10:47 PM EST
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BP chief executive's pay triples in 2013 | Business | The Guardian

The pay of Bob Dudley, BP's chief executive, tripled last year despite the legal threats still hanging over the company from the Deepwater Horizon disaster.

The oil boss received $8.7m (£5.2m) in salary, bonus and share awards last year, according to the company's annual report, compared with $2.6m in 2012.

When contributions to his pension were included, Dudley, 58, got $13.2m for 2013 and has already accumulated a retirement package worth $2m a year.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:11:23 PM EST
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'Carbon bubble' poses serious threat to UK economy, MPs warn | Environment | theguardian.com

Stock markets are inflating a "carbon bubble" by overvaluing companies that produce fossil fuels and greenhouse gases, and this poses a serious threat to the economy, an influential committee of UK MPs has warned.

The idea of a carbon bubble - meaning that the true costs of carbon dioxide in intensifying climate change are not taken into account in a company's stock market valuation - has been gaining currency in recent years, but this is the first time that MPs have addressed the question head-on.

Much of the world's fossil fuel resource will have to be left unburned if the world is to avoid dangerous levels of global warming, the environmental audit committee warned.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 04:12:32 PM EST
[ Parent ]
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:11:30 PM EST
Second case of US baby 'HIV-free' after early treatment | News | DW.DE | 06.03.2014

A 9-month-old baby who was born in Los Angeles, California with the HIV virus may have been cured after doctors began early treatments just four hours after her birth, medical researchers said on Wednesday.

The child is the second case believed to now be HIV-free, following a Mississippi baby who has been off treatment for 21 months with no detectable virus in her system after doctors administered antiretroviral drugs in the first hours of life, said Persaud.

Both mothers were infected, while pregnant with the children, with HIV, which gradually destroys the body's immune system and leads to AIDS.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:34:09 PM EST
[ Parent ]
French search engine Qwant launches German version | Sci-Tech | DW.DE | 06.03.2014

Google is the default search engine on hundreds of millions of computers and mobile devices around the world. But like most US-based companies, the Internet giant has come under fire for how it handles our data. Users in Germany who would like a search engine that offers more privacy may have a solution. This week, French search engine Qwant launched its German version.

In every country where Qwant is available, the results are displayed according to a specific algorithm for that country, meaning that everyone there sees the same results, says Qwant co-founder and CEO Eric Léandri.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:46:09 PM EST
[ Parent ]
Remembering the refugees of Lampedusa | All media content | DW.DE | 06.03.2014
Lampedusa is regarded by many Africans as a gateway to Europe. Human rights activist Mamadou Ba visited the island recently and his photos cast light on the fate of the refugees who died on their way to Lampedusa.
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:47:05 PM EST
[ Parent ]
Girls get another chance in Malawi | Globalization | DW.DE | 06.03.2014
Teenage pregnancies and early marriages are commonplace in Malawi, forcing many teenage girls to drop out of school. Women's groups are now trying turn the situation around and improve girls's access to education.
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:47:51 PM EST
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Lonsdale shows love for the left | Germany | DW.DE | 06.03.2014
When British boxer Bernhard Hart founded fashion brand Lonsdale in 1960, he had no way of knowing what kinds of problems the name would cause. Hart simply named his company after the fifth Earl of Lonsdale, who strongly supported boxing and soccer at the turn of the 20th century. Famous boxer Muhammad Ali (pictured above) was a fan of the label. But in the 1980s and 1990s, neo-Nazis and rightwing Skinheads appropriated the brand for themselves. When wearing a half-closed jacket over a t-shirt with the prominent Lonsdale slogan, the letters "nsda" are showing. That's only one letter short of the "NSDAP", the National Socialist German Workers' Party - better known as Adolf Hitler's Nazis.
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:48:33 PM EST
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Art rebels in Berlin convey glee, not anarchy | Scene in Berlin | DW.DE | 06.03.2014
Childish antics? Osama Bin Laden masks? Berlin's Insider Jan Kage chats with Benjamin Patterson, co-founder of the Fluxus movement. By the end of the night, one of them was covered in a mountain of crumpled newspaper.
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:49:38 PM EST
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Stir over vandalized copies of Anne Frank's diary | Asia | DW.DE | 06.03.2014

When the first incident of damage to "The Diary of a Young Girl" was discovered in a Tokyo public library early last year, officials simply withdrew the memoirs of Anne Frank (main picture) and thought little more of it.

Then something similar happened to another copy of the same book at a library just a few kilometers away. By the summer, it had become an epidemic, with single pages roughly torn out of some copies while others were missing a dozen pages or more before being put back on the shelves.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:50:05 PM EST
[ Parent ]
London Fire Brigade
A bird started a fire in a flat in Stockwell last night, the London Fire Brigade believes. Fire investigators think a bird nicked a smouldering cigarette butt and dropped it into a nest in the roof area, causing it to catch light.
by gk (gk (gk quattro due due sette @gmail.com)) on Fri Mar 7th, 2014 at 04:33:53 AM EST
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by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:11:43 PM EST
by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:11:57 PM EST
AFP.com

A weeping Oscar Pistorius shielded his ears as a witness in his murder trial on Thursday gave harrowing evidence about desperate attempts to save Reeva Steenkamp's life after she was shot.

Rocking back and forth in the dock, Pistorius put his hands over his ears as neighbour and radiologist Johan Stipp recounted how he entered his house to find the distraught Paralympian bent over, attempting to resuscitate his girlfriend.

Stipp noticed a wound on Steenkamp's right thigh, right upper arm, and "blood, hair and what looked like brain tissue intermingled with that" on top of the skull.

Amid the scene of horror, Stipp said he quickly realised the 29-year-old model's injuries were too severe to be survivable.

by In Wales (inwales aaat eurotrib.com) on Thu Mar 6th, 2014 at 03:59:58 PM EST
[ Parent ]
JBS Haldane-Why I am a Materialist

However, although I was a materialist in the laboratory, I was a rather vague sort of idealist outside, for the following reason. I had learned that matter had certain properties. It consisted of atoms which united in particular patterns. They moved in definite paths under given forces, and so on. My belief in these theories was not a matter of mere docility either. I had tested them and risked my life on their substantial accuracy. Clearly, if matter had the properties attributed to it by physicists and chemists, something more was needed to account for living organisms. And it was far harder to account for mind. As a believer in evolution I had to reject such theories as T. H. Huxley's epi-phenomenalism, according to which mind is a secondary consequence of a small class of material events (namely, those which go on inside our heads), but does not influence them. Apart from my very strong belief that I can act, the evolution of something as complicated as my mind, yet absolutely functionless, seemed most unlikely. Not that functionless organs are never evolved. On the contrary, it is probable that most organs are evolved in a rudimentary form before they develop a function. And I have not enough faith in the theories of Paley and his like to believe that every organ--for example, a cock's comb, a pigeon's cere', or a cassowary's wattle--has a function. However, I cannot believe that a system so complicated, and within its limitations so efficient, as the human mind could have evolved if it were functionless.

Nor did I see how, on a materialist basis, knowledge or thought was possible. The light which reaches my eyes causes nervous impulses in about half-a-million fibres running to my brain, and there gives rise to sensation. But how can the sensation be anything like a reality composed of atoms! And, even if it is so, what guarantee have I that my thoughts are logical! They depend on physical and chemical processes going on in my brain, and doubtless obey physical and chemical laws, if materialism is true. So I was compelled, rather reluctantly, to fall back on some kind of idealistic explanation, according to which mind (or something like mind) was prior to matter, and what we call matter was really of the nature of mind, or at least of sensation. I was, however, too painfully conscious of the weakness in every idealistic philosophy to embrace any of them, and I was quite aware that in practice I often acted as a materialist.



'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
by melo (melometa4(at)gmail.com) on Fri Mar 7th, 2014 at 05:06:46 AM EST
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A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Fri Mar 7th, 2014 at 10:38:53 AM EST
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