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Recession Woes
Oct. 29th, 2008 09:32 amBoring and depressing economic details behind the cut. Really boring - I mean it. And possibly wrong.
( Okay, now we're in trouble )
( Okay, now we're in trouble )
Tracing the Bank Bailout
Oct. 14th, 2008 09:59 amWe've now begun the long and lengthy process of recapitalizing American banks by buying up preferred stock, and injecting capital directly instead of merely buying up bad assets. This is probably a good thing, as nobody seems to have suggested a better plan (other then the Chicago people - whose plan requires a great deal of temporary wishful thinking). I'm not entirely happy with it, but I'll live with it.
But how did we arrive at this point when the most powerful man in America, Hank Paulson, claimed that he was in no way going to resort to this just a few weeks ago?
Now that the dust has settled, it becomes possible to trace back a bit of a trend. The Americans did it, of course, because the Europeans did it. And the Europeans did it because the British had already started out by introducing a massive bank rehabilitation package. And the British? Well, they did it because the Irish had already guaranteed 400 billion euros from their six largest banks.
Think about that. The Treasury Secretary of the United States of America, arguably the most powerful man in the most powerful country on Earth, was just forced to spend, against his will, hundreds of billions of dollars to recapitalize some of the largest financial lenders in the world, because of a decision made by a nation with the population of Alabama. That's kind of impressive.
Welcome to the new global economy.
But how did we arrive at this point when the most powerful man in America, Hank Paulson, claimed that he was in no way going to resort to this just a few weeks ago?
Now that the dust has settled, it becomes possible to trace back a bit of a trend. The Americans did it, of course, because the Europeans did it. And the Europeans did it because the British had already started out by introducing a massive bank rehabilitation package. And the British? Well, they did it because the Irish had already guaranteed 400 billion euros from their six largest banks.
Think about that. The Treasury Secretary of the United States of America, arguably the most powerful man in the most powerful country on Earth, was just forced to spend, against his will, hundreds of billions of dollars to recapitalize some of the largest financial lenders in the world, because of a decision made by a nation with the population of Alabama. That's kind of impressive.
Welcome to the new global economy.
Venezuela and Russia
Oct. 13th, 2008 02:51 pmLast week, Paul Krugman dug up one of The Economist's old cartoons from 1987 to explain the current state of the Economy. It seems that he predicted both sides of the coin being the same today as they were then back during last week's panic, which is the least of the qualifications that let him nab this year's Nobel Prize in Economics.
( Picture behind cut )
Well, now that the markets have returned to their regularly scheduled schizophrenic mania, the news outlets will probably be looking for the next big panic. One of the opportunities, which I saw Fox News run a teaser for yesterday, is the imminent arrival of a squadron of Russian warships in the Caribbean to visit everyone's favorite South American strongman, Hugo Chavez. Possibly John McCain will be able to use this as part of his campaign, getting people to buy into his stronger anti-Russia Cold War stance. Well, in case you did want something else to worry about frantically at night, I'm here to spoil it for you, because I'm here to tell you not to worry about that either.
( Boring Naval details behind the cut )
So that leaves you nothing to worry about except for the usual manic schizophrenia of the markets and the complete disaster that is our financial system. Which, if you ask me, is still plenty enough.
( Picture behind cut )
Well, now that the markets have returned to their regularly scheduled schizophrenic mania, the news outlets will probably be looking for the next big panic. One of the opportunities, which I saw Fox News run a teaser for yesterday, is the imminent arrival of a squadron of Russian warships in the Caribbean to visit everyone's favorite South American strongman, Hugo Chavez. Possibly John McCain will be able to use this as part of his campaign, getting people to buy into his stronger anti-Russia Cold War stance. Well, in case you did want something else to worry about frantically at night, I'm here to spoil it for you, because I'm here to tell you not to worry about that either.
( Boring Naval details behind the cut )
So that leaves you nothing to worry about except for the usual manic schizophrenia of the markets and the complete disaster that is our financial system. Which, if you ask me, is still plenty enough.
Bye bye Minister
Oct. 2nd, 2008 10:03 amSo, while I was mucking around with other things, like Somalia, and not paying attention, I missed that as an offshoot to politics as usual, Manto Tshabalala-Msimang of South Africa got fired last week. Tshabalala-Msimang was famous to a select group of people for being a staunch opponent of retroviral drugs. Her most famous statement was that AIDS could be treated by lemon skin, beet root, and raw garlic, made at a Toronto International AIDS Conference in 2006.
There may be a place for people like Tshabalala-Msimang, but Health Minister for a country where 21% of the country are infected with HIV is probably not it. Good-bye, good riddance, and please, let the door hit you on the way out.
There may be a place for people like Tshabalala-Msimang, but Health Minister for a country where 21% of the country are infected with HIV is probably not it. Good-bye, good riddance, and please, let the door hit you on the way out.
Five Questions: II
Sep. 27th, 2008 09:43 amSo, I read the debate transcripts from last night. Mostly I was unsurprised; both candidates spent time rehashing their positions. This is perhaps reasonable; when it comes to foreign policy there seems to be only one straight, narrow, and reasonable path that politics will let us follow. The consensus robs the foreign policy debate of any edge, since it carefully steered the candidates away from problems that have no easy answers.
So I'm continuing to write down the questions that I think are the most paramount for the candidates to actually need to answer. I reaffirm my promise to vote for anyone, even McCain, if they start answering these question to my liking, but based on what I saw last night, I doubt that I'm going to have to change my vote any time soon.
2) How is America going to deal with the global economy?
( An Answer )
So I'm continuing to write down the questions that I think are the most paramount for the candidates to actually need to answer. I reaffirm my promise to vote for anyone, even McCain, if they start answering these question to my liking, but based on what I saw last night, I doubt that I'm going to have to change my vote any time soon.
2) How is America going to deal with the global economy?
( An Answer )
Five Questions: I
Sep. 24th, 2008 09:57 amSo I haven't been paying much attention to the election. My concentration is mostly on foreign policy and foreign affairs, so I pay very little attention to the domestic mess that is the current US political campaign. I really don't like McCain, but I'm not entirely ecstatic about Obama either (although I'm currently supporting him). Neither seems to me to have much of a plan for America that I can get behind.
But this may be a misconception on my part of what their plan for America is. After all, it doesn't take a great genius to figure out that political platforms are now twisted into pretzels and donuts. So I'm going to make a pledge. I'm going to outline what I think are the five most important questions that the next President has to answer, one per post. I'm also going to outline what I think are the right answers. Any major candidate (not a write-in), who answers these questions in this way will get my vote. That's right Republicans! I hereby promise to vote for John McCain, if (and only if), you can get him to offer these answers to these questions.
So, time for question number one:
What are the most important strategic threats to America?
( My Answer )
But this may be a misconception on my part of what their plan for America is. After all, it doesn't take a great genius to figure out that political platforms are now twisted into pretzels and donuts. So I'm going to make a pledge. I'm going to outline what I think are the five most important questions that the next President has to answer, one per post. I'm also going to outline what I think are the right answers. Any major candidate (not a write-in), who answers these questions in this way will get my vote. That's right Republicans! I hereby promise to vote for John McCain, if (and only if), you can get him to offer these answers to these questions.
So, time for question number one:
What are the most important strategic threats to America?
( My Answer )
ISS in Trouble
Sep. 10th, 2008 10:16 amIn other physics related new, the International Space Station is now officially screwed. Apparently, due to a bit of a funding problem, the Space Shuttle is due to be retired in 2010. Our new spaceplane won't be ready until 2015. Our only chance of getting to the ISS between now and then is to borrow some of the Russian Soyuz capsules. However, given the current state of relations between our two countries, you can bet that we're not going to be seeing that anytime soon. So the US may be out of the ISS.
NASA, predictably, is throwing a fit. Meanwhile, experimental particle physicists, who hate the ISS with a passion, are snickering in their offices.
NASA, predictably, is throwing a fit. Meanwhile, experimental particle physicists, who hate the ISS with a passion, are snickering in their offices.
Build Your Own Hezbollah
Sep. 8th, 2008 09:52 amNoah Shachtman, over at Danger Room, reports on a suggestion by anonymous defense analyst to rebuild Georgia's forces based on a very interesting model, that of Hezbollah.
This is something I've thought about for a long time, and I have to confess that I probably should have written it down first. Then I could accuse others of plagiarism. That would be much more amusing.
But it's a really good idea, which, unfortunately, I doubt we'll go through with.
( Can We Build Our Own Hezbollah? )
This is something I've thought about for a long time, and I have to confess that I probably should have written it down first. Then I could accuse others of plagiarism. That would be much more amusing.
But it's a really good idea, which, unfortunately, I doubt we'll go through with.
( Can We Build Our Own Hezbollah? )
Iraq's F-16s
Sep. 5th, 2008 03:11 pmSo, there's word on the street that Iraq is planning on buying 36 F-16 Fighting Falcons from the US, for a price that is rumored to be approximately $3 billion (about $720 million for the bare airframes, plus a bunch for service contracts, parts, technical assistance, etc.). I'm having mixed feelings about this.
( Cut for Iraq )
( Cut for Iraq )
Georgia II
Aug. 11th, 2008 02:02 pmBush is supposed to comment on the situation in Georgia in a few minutes.
Unfortunately, out choices are limited. If all goes well, Russia will walk away with a massive strategic victory, well on its way to reasserting the New Russian Empire, and having weakened American influence around the world. Otherwise, we'll be at war with Russia by tomorrow morning.
I may not like the Russians, but I have to admit that we have been backed into a hell of a corner over this one.
Unfortunately, out choices are limited. If all goes well, Russia will walk away with a massive strategic victory, well on its way to reasserting the New Russian Empire, and having weakened American influence around the world. Otherwise, we'll be at war with Russia by tomorrow morning.
I may not like the Russians, but I have to admit that we have been backed into a hell of a corner over this one.
In Soviet Russia, Russia Invades You!
Aug. 8th, 2008 11:10 amPoor China. They spend all this time setting up the Olympics, preparing a great ceremony, and doing everything possible to cover up their horrible human rights and environmental record, only to bu upstaged by Georgie and Russia trying to start a war.
All that work for nothing. Maybe China should have hosted the wine-maker's association or something. At least that way they could get properly drunk now.
All that work for nothing. Maybe China should have hosted the wine-maker's association or something. At least that way they could get properly drunk now.
Lesbos court decision
Jul. 22nd, 2008 01:52 pmJust when I was feeling the urge to offend another group of people, Reuters rides to the rescue with the daily news. Ah internet, how would I make an ass of myself without it?
This just in:
( Court Decision on Lesbians Forces Lesbians to Find Different Idiots to Laugh At )
This just in:
( Court Decision on Lesbians Forces Lesbians to Find Different Idiots to Laugh At )
Food Prices Still Rising...
Jul. 18th, 2008 09:51 amSo here's an interesting conundrum.
The EU apparently, due to rising prices in food, has some money to spare in its agricultural subsidy budget. About a billion euros out of the budget. Which will be donated, out of the goodness of their hearts, to aid farmers in Africa, because import food prices have become too high for most countries to import what they need. That seems a worthy endeavor.
The remaining 119 billion euros in the agriculture budget will go into subsidizing European farmers in order to prevent food prices from dropping.
Of course, as far as starving people in Africa are concerned, they might be able to get the same effect out of, say, dropping about a billion euros out of the subsidy budget, and devoting it to something worthwhile, like writing a constitution that can be read by someone without an advanced degree in European Union legalese. Or maybe, if they're on a free trade kick, they could even axe the entire 120 billion, and allow third world farmers to compete in the market.
But subsidizing the crops of your farmers, because they need to be able to afford to grow food, and the crops of your customers, because they can't afford to buy your food, at the same time, does not seem a reasonable long-term solution.
The EU apparently, due to rising prices in food, has some money to spare in its agricultural subsidy budget. About a billion euros out of the budget. Which will be donated, out of the goodness of their hearts, to aid farmers in Africa, because import food prices have become too high for most countries to import what they need. That seems a worthy endeavor.
The remaining 119 billion euros in the agriculture budget will go into subsidizing European farmers in order to prevent food prices from dropping.
Of course, as far as starving people in Africa are concerned, they might be able to get the same effect out of, say, dropping about a billion euros out of the subsidy budget, and devoting it to something worthwhile, like writing a constitution that can be read by someone without an advanced degree in European Union legalese. Or maybe, if they're on a free trade kick, they could even axe the entire 120 billion, and allow third world farmers to compete in the market.
But subsidizing the crops of your farmers, because they need to be able to afford to grow food, and the crops of your customers, because they can't afford to buy your food, at the same time, does not seem a reasonable long-term solution.
Can you spot the mathematical error in this quote?:
"The majority of Russians (35 percent) take a shower or a bath on a daily basis."
This could just be a translation error (perhaps indicated that the majority of Russians take a shower or bath daily, but only 35% do so on a daily basis), but considering that it comes from Pravda one can never be sure.
You will, of course, be pleased to note that:
"Residents of Europe turned down their medieval habit of washing themselves twice in a lifetime. However, they still prefer not to take a shower too often. The Britons and the Germans usually wash themselves twice a week."
And also that,
"The Hindus are the cleanest nation in the world. They wash their hands and bodies twice as often as Germans and 1.5 times as often as Americans. A Hindu will always go to the bathroom after he or she sneezes, touches a pet or visits a toilet."
Hopefully this will not come as a surprise to the estimated 900 million South Asians without access to proper sanitary facilities. I suspect that they may wash their hands, but may not be doing it in a bathroom.
Of course, no actual study that can be scrutinized is provided.
Ah Pravda, you never fail to amuse.
Thanks to Passport.
"The majority of Russians (35 percent) take a shower or a bath on a daily basis."
This could just be a translation error (perhaps indicated that the majority of Russians take a shower or bath daily, but only 35% do so on a daily basis), but considering that it comes from Pravda one can never be sure.
You will, of course, be pleased to note that:
"Residents of Europe turned down their medieval habit of washing themselves twice in a lifetime. However, they still prefer not to take a shower too often. The Britons and the Germans usually wash themselves twice a week."
And also that,
"The Hindus are the cleanest nation in the world. They wash their hands and bodies twice as often as Germans and 1.5 times as often as Americans. A Hindu will always go to the bathroom after he or she sneezes, touches a pet or visits a toilet."
Hopefully this will not come as a surprise to the estimated 900 million South Asians without access to proper sanitary facilities. I suspect that they may wash their hands, but may not be doing it in a bathroom.
Of course, no actual study that can be scrutinized is provided.
Ah Pravda, you never fail to amuse.
Thanks to Passport.
Not Mellow At All
Jul. 3rd, 2008 10:09 amI don't usually say anything about drug users, mostly because they don't figure much in my life. I rarely feel the need to criticize them as a group. And of all the groups that I thought I would end up criticizing, users of marijuana seemed to be the lowest on the list. Although I dislike using the word mellow to describe them as a group, I have to admit that it does seem to fit, even though I suspect that, on the whole, they are much like any other group of randomly selected people. Even though they can sometimes be aggravating, I never thought that they would get my blood pressure up.
But potheads in South Africa have finally managed to go beyond the pale by developing a new type of marijuana. Someone discovered that by combining marijuana with the drug Stocrin, you could obtain a more intense high, or at least a different one, due to the buzz that Stocrin normally gives you. Which means that, the drug market being what it is, there is now a shortage of Stocrin in South Africa.
Which is a problem, because Stocrin is a reverse transcriptase inhibitor, not widely available, with only one real medical purpose: to combat HIV.
Which means that people with HIV are being robbed of their drugs so that marijuana users can get a better high.
Which, in my book, is just wrong.
So let me confirm, in case there are any people of this type by chance reading this journal. If you are stealing drugs from AIDS patients so that you can get high, you are, indeed, an asshole. But don't worry. In a country where the official HIV infection rate is over 10%, I'm sure that some of you will have some poetic justice coming your way very soon.
But potheads in South Africa have finally managed to go beyond the pale by developing a new type of marijuana. Someone discovered that by combining marijuana with the drug Stocrin, you could obtain a more intense high, or at least a different one, due to the buzz that Stocrin normally gives you. Which means that, the drug market being what it is, there is now a shortage of Stocrin in South Africa.
Which is a problem, because Stocrin is a reverse transcriptase inhibitor, not widely available, with only one real medical purpose: to combat HIV.
Which means that people with HIV are being robbed of their drugs so that marijuana users can get a better high.
Which, in my book, is just wrong.
So let me confirm, in case there are any people of this type by chance reading this journal. If you are stealing drugs from AIDS patients so that you can get high, you are, indeed, an asshole. But don't worry. In a country where the official HIV infection rate is over 10%, I'm sure that some of you will have some poetic justice coming your way very soon.
(no subject)
Jul. 2nd, 2008 04:36 pmIngrid Betancourt is free!
Man, between this, Marulanda's death, and Reyes's elimination, FARC is having a really bad year. I hope it continues.
Man, between this, Marulanda's death, and Reyes's elimination, FARC is having a really bad year. I hope it continues.
Zimbabwe Again
Jul. 1st, 2008 01:58 pmI'm probably going to need a Zimbabwe tag at some point.
Here are some more random musings about Zimbabwe which I've decided to write down. I don't know what to make of them, nor do I know what others will make of them, but you're free to point and laugh.
( The Man Down A1 )
Here are some more random musings about Zimbabwe which I've decided to write down. I don't know what to make of them, nor do I know what others will make of them, but you're free to point and laugh.
( The Man Down A1 )
