We now know, from court records and official documents, that at least two undercover operatives were gathering information on Timothy McVeigh and a group of like-minded white supremacists in the early spring of 1995, one of whom gave her government handlers specific information about a plan to blow up the Alfred P. Murrah Federal Building in Oklahoma City.
We know that, after the bombing, the government expended considerable energy trying to track down a John Doe 2 and other possible accomplices of McVeigh and Terry Nichols -- the "others unknown" cited in the federal indictment -- before abruptly changing tack nine months later and insisting that McVeigh was the lone mastermind behind the attack and, eventually, that no one else other than Nichols had been involved.
And we know that, as the lone-bomber theory has come under increasingly skeptical scrutiny in recent years, the FBI and other federal agencies have expended considerable energy blocking access to their investigative paper trail. When one of the government informants from the spring of 1995 went public about her role, she found herself prosecuted -- unsuccessfully -- for allegedly harboring her own bomb plots; she has since gone to ground, too afraid to say more. At least one key government official, the state medical examiner in Oklahoma City, has indicated he was not given key information he needed to do his job. And one of the senior FBI agents involved in the early stages of the bombing probe now believes that enough new evidence has come to the surface from the files of his own agency to warrant a new federal grand jury investigation.
Perhaps most unnerving is the trail of dead bodies that has turned up over the past decade under less than transparent circumstances. A neo-Nazi bank robber called Richard Guthrie, one of the leading John Doe 2 candidates -- though never publicly identified as such -- was found hanging in a prison cell in July 1996. Kenney Trentadue, a man who looked very much like Guthrie, right down to a snake-motif tattoo on one arm, and appears to have been mistaken for him when he was picked up on a parole violation on the Mexican border in the summer of 1995, wound up bloodied and traumatized from head to toe in his cell at a federal detention facility in Oklahoma City. The feds claimed he hanged himself. An inmate who later came forward and claimed he witnessed Trentadue being beaten to death by his interrogators was himself found hanging in a federal prison cell in 2000.
The person who has done most of the recent work in unmasking the mysteries of Oklahoma City is Kenney Trentadue's brother Jesse, a Salt Lake City lawyer who has not only fought to have his brother's death recognized as murder, not suicide, but is also suing the FBI to release a trove of documents that might shed light on the links among McVeigh, Guthrie and a group of Guthrie's associates widely suspected -- at least outside the confines of the Justice Department -- of being McVeigh's bombing accomplices.
Jesse Trentadue has been all over the federal government like a bad case of lice ever since the authorities at the Federal Transfer Center in Oklahoma City unsuccessfully tried to arrange for Kenney's battered body to be cremated before the family had had a chance to look at it or even learn what kind of injuries he had sustained. He not only insisted on the family taking receipt of the body, he has also raised question after question about the government's credibility. Jesse has gotten a prison guard to admit under oath that he lied when he testified about seeing Kenney hanging by a bedsheet, gotten the authorities to admit they never told the medical examiner's office that someone else's blood was found in Kenney's cell, and cast compelling doubt on the suicide note Kenney supposedly scrawled in pencil on his cell wall saying he had lost his mind.
hina has such a huge stash of other countries' money that it could, in theory, give bonuses equaling half a year's wages to all 770 million of its famously low-paid workers.
China will soon release statistics showing that it has passed Japan as the biggest holder of foreign currency the world has ever seen. Its reserves already exceed $800 billion and are on track to reach $1 trillion by the end of the year, up from just under $4 billion in 1989. But China has held a similar position before...
History offers parallels to the yawning U.S. trade deficit and the resulting accumulation of dollars in China. China sells to American companies almost six times as much as it buys from them, but this is not the first time China has been an export powerhouse. Ancient Rome, for example, found that it had little except glass that China wanted to buy. Nearly 2,000 years ago, Pliny complained about the eastward flow of Roman gold along the Silk Road in exchange for Chinese silk.
Long-distance trade collapsed during the early years of the Dark Ages. But through the next several periods of rapid growth in international commerce - from 600 to 750, from 1000 to 1300 and from 1500 to 1800 - China again tended to run very large trade surpluses. By 1700, Europe was paying with silver for as much as four-fifths of its imports from China because China was interested in little that Europe manufactured.
A longstanding mystery for economic historians lies in how so much silver and gold flowed to China for centuries for the purchase of Chinese goods yet caused little inflation in China. Many of China's manufactured goods remained much cheaper than those from other countries until the early 1800s, despite the rapidly growing supply of silver in the Chinese economy. One theory is that Chinese output was expanding as fast as the supply of precious metal. Another is that the Chinese were saving the silver and gold, not spending it.
The same phenomenon has appeared today, as dollars inundating China have resulted in practically no increase in prices for most goods and services - although real estate prices have jumped in most cities. China has an even easier time preventing domestic prices from rising now because modern banking techniques let its central bank buy up the dollars and take them out of everyday circulation. The central bank has accumulated the country's immense foreign-currency reserves in the process.
The British Empire in the 19th century worked out a way to maintain a large long-term trade surplus with China. So far, however, nobody has suggested that the United States also try getting millions of Chinese people addicted to imported opium.
At the core of anti-Semitism lies a mistrust of capitalism and a fear of economic liberty. In studying anti-Semitism between the years 500 and 1306, Will Durant identified an undercurrent that parallels what we see today: “The main sources have ever been economic, but religious differences have given edge and cover to economic rivalries.” (Story of Civilization Vol. IV: The Age of Faith)
As America pushes to expand liberal democracy throughout the Middle East, we can expect resistance not only from the Arab monarchies but from our Old World neighbors as well. While they will wring their hands and agree that terrorism is a threat to security, the market-driven economy of the U.S. is what they truly fear. As the statist policies continue to degrade the EU economy, the "scapegoat" will continue to expand from the Jews as a people to the homelands of the Jews, Israel and the U.S.
You know, there's things going on right in front of your nose, and you don't even sense that you're being distracted.
Let me give you an example: In yesterday's Daily Yomiuri, English edition (you read that don't you?) there was an article I think was reprinted from the Washington Post (which I now can't find), saying something to the effect of "Now that the Saudis are wealthy from the windfall in oil, they might not make the 'reforms' that will rid their society of a theocracy."
A common meme in the rightie blogsphere is, "Why hasn't there been an attack on our vulnerable ports?" that assumes that Bush is doing a heckuva job on the Global War on Terror.
See a connection yet?...
Just prior to 9/11, Saudi Arabia was undergoing a severe economic crisis; I read a report that said there was a 31% unemployment rate...See where I'm going yet?
A year after 9/11, gasoline prices went way up, possibly due at least in part because of the very small amount of oil being taken off the market from Iraq following the war...
Do you get it yet?
Somebody above noted the UAE's "contribution" to the "War on Terror."
Folks, it was our contribution to the "War on Terror," paid at your local gas pump.
We're bribing them, or perhaps more to the point, paying them protection money. They'll crack down on terrorists stop funding terrorists as long as they keep getting an increasing share of the oil wealth.
And in return they'll spend money to "build their infrastructure" again like they did in the 80s.
Call me whatever you want, but people don't do these beneficial things for each other by accident.
One of the baseline assumptions of U.S. foreign policy is that "connectedness" is a good thing. Linkage to the global economy fosters the growth of democracy and free markets, the theory goes, and that in turn creates the conditions for stability and security. But if that's true, why is an increasingly "connected" world such a mess?
This paradox of the 21st century is confounding the Bush administration's hopes for democratization in the Middle East. It turns out that in Iraq, Iran, Egypt, the Palestinian Authority and perhaps nations yet to come, the growth of democracy and technology has had the effect of enfranchising pre-modern political movements -- ones linked to religious sects, ethnic minorities and tribes. This trend astonishes Westerners who meet with Arab modernizers at events such as the World Economic Forum or see the skyscrapers of Dubai and think the world is coming our way...
Why is there a growing sense that, as Francis Fukuyama put it in a provocative essay in last Sunday's New York Times Magazine, "More democracy will mean more alienation, radicalization and -- yes, unfortunately -- terrorism"? I have been discussing this conundrum with friends, and I've heard two interesting theories worth sharing.
The first comes from Raja Sidawi, a Syrian businessman who owns Petroleum Intelligence Weekly and is one of the most astute analysts of the Arab world I know. He argues that Barnett misses the fact that as elites around the world become more connected with the global economy, they become more disconnected from their own cultures and political systems. The local elites "lose touch with what's going on around them," opening up a vacuum that is filled by religious parties and sectarian groups, Sidawi contends. The modernizers think they are plugging their nations into the global economy, but what's also happening is that they are unplugging themselves politically at home.
Sidawi's theory -- that connectedness produces a political disconnect -- helps explain some of what we see in the Middle East. Take the case of Iran: A visitor to Tehran in 1975 would have thought the country was rushing toward the First World. The Iranian elite looked and talked just like the Western bankers, business executives and political leaders who were embracing the shah's modernizing regime. And yet a few years later, that image of connectedness had been shattered by Ayatollah Ruhollah Khomeini's Islamic revolution, whose aftershocks still rumble across the region. The Iranian modernizers had lost touch with the masses. That process has been repeated in Iraq, Egypt and the Palestinian Authority -- where the secular elites who talked the West's line have proved to be politically weak...
McLean argues that the Internet is a "rage enabler." By providing instant, persistent, real-time stimuli, the new technology takes anger to a higher level. "Rage needs to be fed or stimulated continually to build or maintain it," he explains. The Internet provides that instantaneous, persistent poke in the eye. What's more, it provides an environment in which enraged people can gather at cause-centered Web sites and make themselves even angrier. The technology, McLean notes, "eliminates the opportunity for filtering or rage-dissipating communications to intrude." I think McLean is right. And you don't have to travel to Cairo to see how the Internet fuels rage and poisons reasoned debate. Just take a tour of the American blogosphere.
Fusako Shigenobu simply smiled as the Tokyo District Court sentenced her to 20 years in prison Thursday for her activities with the Japanese Red Army, which was behind a number of terrorist attacks in the 1970s.
After reading aloud the main section of the ruling, presiding Judge Hironobu Murakami asked Shigenobu, who spent half her life in the Middle East as leader of the international terrorist group, "You understand the ruling, don't you?"
She nodded, but smiled to the gallery as if wanting to appear victorious. After the rest of the sentence was read aloud, she repeated to the gallery, "I'll continue to fight!"
After her sentencing, Shigenobu issued a statement through her lawyers, saying, "It was an unjust ruling that did not examine the facts as they are and only accommodated the wishes of those in power."
Shigenobu joined an extreme leftist group as a student at Meiji University.
In the 1970s, when the Japanese Red Army was formed and repeatedly committed terrorist acts, Shigenobu had members undergo military training at its base in Lebanon to increase the power of the group.
During her first hearing in April 2001, Shigenobu declared that the Japanese Red Army was dissolved and apologized to the victims of the terrorist acts.
Japan's High Court is expected to rule soon on the fate of Shoko Asahara, the leader of the Aum Supreme Truth cult that carried out the attack which killed 12 people and injured thousands more.
In Tokyo, Shane McLeod reports.
SHANE MCLEOD: It was a calculated, deadly attack.
On the morning of the 20th of March 1995, at five locations on three of the subway lines below Tokyo, members of the Aum Supreme Truth cult released the nerve agent, sarin gas.
(sound of Japanese people panicking)
Twelve people died and thousands more were overcome by deadly gas, causing injuries for some that continue to this day.
At the time, the Aum cult boasted 10,000 members across Japan, led by a charismatic blind guru, Shoko Asahara, whose real name is Chizuo Matsumoto.
In 2004 Asahara was found guilty as the mastermind of that attack and other incidents that claimed a total of 27 lives.
(sound of Japanese lawyers)
His lawyers lodged an appeal against the sentence, but have since claimed they can’t proceed, because they haven't been able to communicate with their client.
They say that Asahara is mentally ill and may be suffering from a brain condition.
They say he's incontinent, wears nappies, and requires a wheelchair to move around.
But a report from a psychiatrist appointed by the court has disputed that assessment. It found that while Asahara is not well, he does respond to the directions of guards at the detention centre in which he's been held for 10 years. And it found that he's mentally fit to stand trial.
Prosecutors on Wednesday arrested Livedoor Representative Director Fumito Kumagai in connection with the alleged accounting fraud in which his former colleagues are embroiled, putting the firm one step closer to being delisted.
They also served fresh warrants on former Livedoor Co. President Takafumi Horie and three other ex-executives on suspicion of falsifying the company's financial figures for the business year through September 2004.
The new warrants allow Tokyo prosecutors to continue to hold for further questioning Horie and the other three, who have been in custody since Jan. 23 for alleged securities law violations.
The Tokyo Stock Exchange will begin procedures to delist Livedoor if the Securities and Exchange Surveillance Commission files a fresh criminal complaint with prosecutors against the firm over alleged accounting fraud or if the state presses charges, TSE officials said Wednesday.
Prosecutors believe the five inflated Livedoor earnings for the year through September 2004 by more than 5 billion yen.
Livedoor is suspected of claiming a pretax profit of 1.4 billion yen through fictitious sales to two companies that it was in the process of taking over, although it actually incurred a pretax loss for the year.
KOCHI (Kyodo) The Kochi Prefectural Police misspent 35 percent of its budget for investigations over the five-year period starting in fiscal 2000, a prefectural audit panel said Wednesday.
The panel checked the 13,800 outlays worth 51.4 million yen at the prefectural force and at Kochi Police Station, of which 18 million yen was found to have been spent inappropriately, it said in a report submitted to Gov. Daijiro Hashimoto and the prefectural assembly.
Police previously denied that money was spent inappropriately.
Of the 51.4 million yen, about 780,000 yen, or 1.5 percent, in 85 cases was found to have been fictitious payments made as supervisors had apparently instructed subordinates to falsify receipts.
Some 690,000 yen, or 1.3 percent, in 115 cases was considered inappropriate spending, where the handwriting on receipts closely resembled that of investigators' payment vouchers, 16.45 million yen, or 32 percent of the budget in 3,178 cases, was deemed to be suspicious, with paid informants' names blacked out on documents in some cases, and receipts not attached to accounting documents.



In a confidential, internal Web site for Wal-Mart's managers, the company's chief executive, H. Lee Scott Jr., seemed to have a rare, unscripted moment when one manager asked him why "the largest company on the planet cannot offer some type of medical retirement benefits?"
Mr. Scott first argues that the cost of such benefits would leave Wal-Mart at a competitive disadvantage but then, clearly annoyed, he suggests that the store manager is disloyal and should consider quitting.
The Web site, which Mr. Scott uses to communicate his tough standards to thousands of far-flung managers, gives a rare glimpse into the concerns that are roiling Wal-Mart's retailing empire, from the company's sagging stock price to how it treats its workers. Judging by the managers' questions, Mr. Scott has an internal public relations challenge that in some ways mirrors the challenge he faces from outside critics.
And while Mr. Scott's postings are usually written in a careful, even guarded manner, they can often be revealing — for example, showing a defensiveness and testiness with critics — that Mr. Scott normally keeps under wraps.
Copies of Mr. Scott's postings covering two years were made available to The New York Times by Wal-Mart Watch, a group backed by unions and foundations that is pressing Wal-Mart to improve its wages and benefits. Wal-Mart Watch said it received the postings from a disgruntled manager. While the existence of the Web site and Mr. Scott's participation in it have been known, transcripts have never been made public before.
The Web site has a folksy name — Lee's Garage, because Mr. Scott pumped gas at his father's Kansas service station while growing up.
But his responses often serve to remind managers of the gap between them and their chief executive, who earned more than $17 million last year, including stock options, who hops around the globe on Wal-Mart's fleet of jets and who lives in a gated community called Pinnacle.
In one posting, he urges managers to set an example by doing more to comply with the company's 10-foot rule, requiring employees to smile and ask "Can I help you" when a shopper is less than 10 feet away.
To Whom it May Concern:
Mr. Scott, as quoted in today's Times, as having written, "...General Motors now is that General Motors is no longer an automotive company. General Motors is a benefit company that sells cars to fund those benefits."
This for a guy who makes 100 times more than I do.
Really. What testicles.
Moreover, you've opened a monstrosity of a "supercenter" near my house, located in a neighborhood of 1/2 million dollar houses, and sure enough, it's now populated by customers I'd rather not have my young son around, it's staffed by people who look doomed because they know they're on the lowest rung of the economic ladder, and the stuff you stock is nothing but dreck.
Hint: idiot, you located the store in a neighborhood of upscale folks, of whom a large number are Asian. They just aren't going to scarf up Toby Keith, or Garth Brooks CDs.
They're not going to buy your adulterated pork products; the local Chinese butcher can beat your prices.
They might buy all that plastic crap you have, if they need plastic crap.
Give your employees real health benefits or get out of my neighborhood. I'm not shopping in your store, and frequently urge everyone I know to do the same.
This is what Osborn and Briffa have done in their article "The Spatial Extent of 20th Century Warmth in the Context of the Past 1200 Years", which appears in the Feb 10 issue of the journal Science. The article uses a rigorous statistical methodology to re-examine the question of whether late 20th century warmth is anomalous in the context of the past 1200 years. This is done in a manner that does not require the explicit calibration of the proxy records. In essence, the authors have revisited a question posed earlier in a paper by Willie Soon and Sallie Baliunas (2003: see our previous discussion here), investigating whether or not evidence from past proxy records of temperature support the existence of past intervals of warmth with the widespread global scale of 20th century warming. The Soon and Baliunas (2003) paper was heavily criticized in the scientific literature (e.g. Mann et al, 2003) for failing to distinguish between proxy evidence of temperature and drought or precipitation, and for not accounting for whether temperature anomalies in different regions were contemporaneous or not.
Osborn and Briffa, by contrast, have carefully taken these issues into account. They make use only of those proxy records which demonstrate a statistically significant relationship with modern instrumental temperature records, and which were dated accurately enough that records from different locations could be compared against each other in a chronologically consistent manner. They then standardize the records and look for evidence of simultaneous relative departures that point in the same direction (i.e. "warm" or "cold") using appropriate pre-set thresholds for defining a significant event (they try both one and two standard deviations). There is an important distinction between this careful statistical approach, and the selective cherry picking that is often used by contrarian commentators to misrepresent the available evidence. For example, it is possible to find evidence of significant warmth or significant coldness over literally any century-long interval in at least one of the 14 records used by Osborn and Briffa (see Figure 1 in the article). However, this alone tells us very little. What is of interest, instead, is whether centuries-long intervals can be found over which warm events or cold events tend to cluster.
Osborn and Briffa use Monte Carlo simulations to test the null hypothesis that a given number of simultaneous "warm" or "cold" events should simultaneously emerge among 14 such independent records from chance alone. Where they are able to reject this null hypothesis, they conclude that there is evidence of large-scale warmth or coldness, and they quantify its spatial extent. They also establish that their results are robust with respect to the elimination of any single record, and that the main conclusions are independent of the particular base period (e.g. whether they use the full interval AD 800-1995, or only the modern interval of 1856-1995 which overlaps with the instrumental record). While some of the caveats of some past studies are applicable in this study too (for example, the authors only use 14 proxy sites), the authors do attempt to address them. For example, they show that the modern instrumental record averaged only over their 14 sites captures the full Northern Hemisphere mean temperature variations remarkably well over the available (approximately 150 years) interval. The authors also examine the difference between the number of significant warm and cold events over time, and this tells a similar story.
Figure 2 (from Osborn and Briffa, '06). Fraction of the records available in each year that have normalized values > 0 (red line), > 1 (light red shading), > 2 (dark red shading), <> [source: AAAS] (click to enlarge)In each case, the authors find that the most widespread warmth by far is evident during the mid and late 20th century. The conclusion is not especially surprising, as nearly all previous peer-reviewed studies over the past decade find that late 20th century warmth is anomalous in a millennial or longer context. Indeed, the curve they produce (Figure 2)--with a modest negative trend over most of the past millennium ending in a dramatic positive 20th century spike--might be likened in shape to a certain implement used in a popular North American winter sport. But we digress...
It is not so much the conclusion, but the approach that the authors use to reach their conclusion, that is most important about this latest study. The authors take advantage of a very straightforward analysis of climate proxy data, avoiding the highly technical and arcane issues of statistical calibration and methodology that are so frequently seized upon by those who dispute that recent large-scale warmth is anomalous in a long-term context. This paper adds to the mounting weight of evidence that such warmth is indeed anomalous in at least a millennial context. We doubt that this, or for that matter, any study will silence the increasingly small but persistently vocal minority of contrarians who continue to challenge this conclusion. But to them, we offer the reminder that paleoclimate evidence comprises only one of many independent lines of evidence indicating a primary role of human activity in modern climate change. If the only line of evidence that remains in dispute pertains to estimated millennial temperature histories, then the case for denialism appears extremely weak indeed.
Indeed.
WASHINGTON, Feb. 14 — When the White House press secretary, Scott McClellan, came to the press room just before 10 a.m. Tuesday and suggested he was wearing an orange tie to avoid a stray shot from Vice President Dick Cheney, it seemed to signal an effort to defuse the accidental-shooting story with a laugh.
But by midday, it was clear that the staffs of the president and the vice president had failed to communicate. Just after arriving at work around 7:45 a.m., Mr. Cheney learned that the man he had shot, Harry M. Whittington, was about to undergo a medical procedure on his heart because his injuries were more serious than earlier believed, Mr. Cheney's spokeswoman said.
No one in Mr. Cheney's office passed the word to Mr. McClellan, senior officials at the White House said, adding that the press secretary would never have joked about the shooting accident if he had known about the turn of events involving Mr. Whittington.
It was the latest example of the degree to which Mr. Cheney's habit of living in his own world in the Bush White House — surrounded by his own staff, relying on his own instincts, saying as little as possible — had backfired since the accident in Texas on Saturday. Mr. Cheney's staff members have kept their comments to chronological details and to repeating the vice president's written statements.
Really, if they're not open, if they're not cooperating amongst themselves, if they're not working together, - and if they're lying to us- isn't it time we had a re-org?
But wait it gets better- there's actually apologists for Cheny on the right!
"What he did was not an irrational thing," said Mary Matalin, Mr. Cheney's former communications adviser, who spoke to him Sunday morning. "This was a very close friend this happened to. Everyone was shaken up about it. When I spoke to him, it was all about Harry, worrying about him," not whether he should get a statement out, or let his South Texas host tell a local newspaper.
So our friends on the right who love to decry about excluded middles would contend therefore it was rational for Cheney to shoot that guy?
Even at the most secure meetings in the White House situation room, Mr. Cheney tends to ask questions but leave the participants guessing about his own views — largely, his colleagues say they suspect, for fear of leaks. His movements, once hidden for security reasons, are now often cloaked out of habit. Several senior members of the administration said they were not told of the shooting accident until late Sunday.
The man appears to be paranoid, and clearly when armed, dangerous. And this guy's in power?
If nothing else, the U.S. holds the secret elixir to safety. China can't claim to be a safe haven yet. And some European countries have even intimated they'd like to eliminate the euro; that doesn't send a strong signal.
The U.S. always has and is the place to be. People and money flock to our borders. That isn't going to change overnight, or even this year. As much as people want other countries to win, the U.S. is ranked No. 1 in the currency-of-choice game and can't be counted out of the competition yet.
Indeed, short-term bond yields have been rising lately. That means traders are less confident Bernanke will hold interest rates steady; he may initiate a rate hike or two. This would compel some overseas investors to buy more dollars.
You can bet Soros, Buffett, et al. will be cheering for every one else in this year's economic competition.
I'll be rooting for the top dog/underdog, which seems the most befitting way to describe the U.S. today. The U.S. dollar is still the gold-medal holder on this podium.
But the core of [this] article, which basically repeats the current common wisdom, is that the bears (like me) have been spending the past year or more warning of impending doom and we see the exact opposite happening, so we are not credible. At the same time, our arguments (global imbalances are unsustainable, there is a housing bubble, even peak oil) are entering the mainstream and are at least being acknowledged and discussed, if only to refute them, and the above example is typical.
The logic is as follows:
The most extravagant example of the above kind of thinking has been the new theory of "dark matter" to explain away the fact that the US still earned, until recently, net positive income on its international investments, despite having become a net debtor to the world.
- your arguments are rational and make a lot of sense, it's worrying
- but US growth and unemployment are doing great!
- therefore all is fine, and your points are not valid
and the kicker:
- we're in a new kind of economy: financial markets are behaving differently, and the US economy is in a new kind of phase.
sometimes accompanied by the grand finale
- with your stagnant economies, high unemployment and Muslim rioting, you'd better be happy that the US economy is growing, we're pulling you and it would be even worse if it stopped (and you'd better be grateful that we are waging war on the infidels for you, also).
The simple explanation is that US companies own factories, and other companies overseas, and tend to hide revenues over there to pay less tax, whereas foreigners invest mostly in low paying Treasuries. That was brushed aside to provide for "dark matter", a new, invisible class of US assets that supposedly brings income of the US as if by magic... You can read a summary by the authors here and, if you are brave, their full paper here (pdf), and some debunkings here by the Economist (which is still sane about these things) and here by Brad Setser.
Essentially, the arguments boil down to two things:
Your big theories are fine, but the facts on the ground say otherwise. Thus the bear fatigue of the mainstream press, who thought it had a good story with these big scary news and sees headlines that scream otherwise.
- US growth is strong (of course, the last quarter was a temporary blip)
- the US easily finances its external deficits
- thus there is nothing to worry.
So, again, let me make the bearish case with the help of the FT and the Economist, which still provide nice graphs despite propagating the ideology of the kleptocracy:
As a trader quoted by the FT (from where I took some of the above graphs) says:
- the economy is only doing well because the rich are doing great and pulling the GDP number up, while the great unwashed masses stagnate. The graph below (from btower in my diary yesterday on inequality) shows that both the average and the median household have gone down in recent years
in a context of increasing incomes for the rich, it means that the middle classes have actually gone a lot poorer;
- that empoverishment has been hidden by the ability of many to go deeper in debt and/ot to borrow against the nicely inflated value of their house. Household debt has reached the record level of 124% of the average income (and, as you can see above, the average ('mean') is much higher than the median, which means that the average debt is something like 170% of median income (edited)- which is not such an invalid comparison as the poor are certainly more indebted than the very rich relative to their income)
in other words, the debt situation has worsened in the past year, since that graph was made, and the corollary is what the top graph shows: no savings anymore;
- these incredible levels of debt have been made possible by the absurdly low nominal interest rates, both for short term borrowings (used for variable rate loans) and long term borrowing (used for fixed rate loans). The rates have been pushed down by the Fed's incredibly lax interest rate policy in 2001-2004, which has literally flooded the planet with cheap money, which has been used to buy assets, whode prices have gone up. Gold has gone up. real estate has gone up, financial assets (like bonds) have gone up (and thus yields down), and some, like Stirling, say additionally that oil prices have gone up for the same reason (which makes sense, but is hard to "prove"). This is the mother of all bubbles, and we are all floating happily on the surface of that wave of money;
- the problem, of course, is that this wave is now beginning to recede. The Fed, seeing "growth", has finally begun to tighten, oh so prudently, interest rates, so at least no new fuel is added to the fire. But so much money was added in previous years that lots of it is still sloshing around and keeping long term interest rates down. The Chinese buy Treasuries to keep the yuan weak and protect their exports and their growth, and oil exporters buy Treasuries because they have so many dollars from high oil prices that there is little else they can do than buy some.
- the result is what is called an inversion of the yield curve, when long term rates become lower than short term rates. You get a better return by lending short term, because people want long term assets rather than short term ones, to "lock in" the current rates, expected to still go down because of fears of a recession.
Historically, yield curve inversions have been followed by recessions most of the time:
I feel like Bill Murray in Groundhog Day," says David Rosenberg, North American economist at Merrill Lynch. "I remember all too well clients telling me in 2000 that it was different this time and asking how you could square the yield curve inversion with the Nasdaq over 5000."The curve was inverted in March 2000 when the internet-fuelled boom propelled the Nasdaq stock market to its peak. At the time, the economy and the stock market seemed indomitable. But once the bubble in technology stocks burst, the economy slid into recession in 2001 as the Fed cut rates. Nasdaq investors had been wrong. The bond market had got it right.
And remember just one thing - if analysts and other finance types tell you that the economy is doing great, it's probably because they belong in the right hand column in this last graph (again from btower):
Meanwhile, the left hand column will feel the rocks first when the wave recedes (bankruptcies! evictions! unemployment!) But they're just losers, and probably un-American, right? Why should we care about them?
Denial blinds us to many dangers. Like the coming Iranian Petro-Euro Bourse threatening the American dollar's position as the world's reserve currency, a threat potentially more catastrophic than a nuclear arsenal. We deny it.And recently, we learned of an even bigger threat: about World War III. Seriously, a war is being provoked by loose cannons in America as well as abroad. Irrational, absurd and unwanted, fanatics on both sides are prophesizing an all-out war in the next couple years.For years America has heard religious fundamentalists predict the "End of Days," Armageddon, an Apocalypse, The Rapture, Tribulation, a final battle prophesized for the Holy Land. Prominent evangelists believe it's coming soon. Many are so convinced their rhetoric may be a self-fulfilling prophecy.Until recently this was outside market and economic thinking. That is, until Iranian President Ahmadinejad addressed the United Nations in October. His prophecies mirror those of America's evangelists. Ahmadinejad not only hopes for but is trying to provoke both the free world and Islam into war.Iran's "End-of-Days:" Ahmadinejad passionately believes that in the next couple years the world will witness the "second coming" of the Mahdi, a messianic "hidden 12th imam" of Shiite Islam, prophesized to appear at the "End of Days." Ahmadinejad even embraces his "divine mission" to "pave the way" for the second coming.Get it! We have ideological fanatics on both sides, like two alcoholics itching for a bar fight. Both sides want a global war, provoking enemies and allies alike. Both pray for an irrational first blow triggering the "End of Days," a WW III nuclear conflict between the world's greatest cultures. Both expect fulfillment of ancient prophecies. Both want a war to end all wars, and the end of the world as we know it.Irrational? Probably. But remember, these high-risk variables are not programmed into America's economic models and market forecasting systems that Washington, Wall Street and Corporate America throw at you every day. Yet in the hands of fanatics these variables can trigger events that can easily overwhelm entire economies and markets.
The mainstream media are, for the first time in memory, being pulled by both sides of the ideological spectrum. And maybe, just maybe, we might just save them in spite of themselves.
REAT FALLS, Va. — What happens if you're a Republican commentator and you write a book critical of President Bush that gets you fired from your job at a conservative think tank?...
Nobody will touch me," said Bruce Bartlett, author of the forthcoming "Impostor: Why George W. Bush Bankrupted America and Betrayed the Reagan Legacy." "I think I'm just kind of radioactive at the moment."
Mr. Bartlett, a domestic policy aide at the White House in the Reagan administration and a deputy assistant treasury secretary under the first President Bush, talked last week at his suburban Washington home about his dismissal, his book and a growing disquiet among conservatives about Mr. Bush.
Although "Impostor" is flamboyant in its anti-Bush sentiments — on the first page Mr. Bartlett calls Mr. Bush a "pretend conservative" and compares him to Richard Nixon, "a man who used the right to pursue his agenda" — its basic message reflects the frustration of many conservatives who say that Mr. Bush has been on a five-year federal spending binge. Like them, Mr. Bartlett is particularly upset about Mr. Bush's Medicare prescription drug plan, which is expected to cost more than $700 billion over the next decade.
He is unhappy, too, with the president's education and campaign finance bills and his proposal to overhaul the nation's immigration laws, which many Republicans call a dressed-up amnesty plan. The book, to be published by Doubleday on Feb. 28, also criticizes the White House for "an anti-intellectual distrust of facts and analysis" and an obsession with secrecy.
"The Clinton people were vastly more open and easier to deal with and, quite frankly, a lot better on the issues," Mr. Bartlett said in the interview, in the kitchen of his pared-down modern house on a street of big new homes in Great Falls. Mr. Bartlett hastened to add that although he admired Mr. Clinton's economic policies, that did not mean he had changed sides.
"I haven't switched to the Democratic Party," he said. "I wrote this for Republicans."...
"Bruce is really an exception, not the rule, in the degree and thoroughness of his discontent," said William Kristol, a conservative strategist and the editor of The Weekly Standard. "So I wouldn't make too much of it. On the other hand, one thing I've noticed giving speeches in the last couple of months is that conservatives remain pro-Bush, but the loyalty to the movement and the ideas is deeper than the personal loyalty now. Two years ago, Bush was the movement and the cause."

What also distinguished the Shakers was their odd join between violent anti-worldliness and thoroughgoing commercial materialism. Monks and monkish communities have, of course, sold goods to the world for a long time, from medieval cheese to Moonie cappuccinos. But the Shakers, faced with the need to support large communities, worked particularly hard to manufacture things for money. Many of the objects that we think of as archetypally Shaker—the long oval boxes with their lovely triple folds, the clean brooms and chairs—were designed and made largely for outside sale. With most tribes and sects that we look to as artistic innovators, the line between cult object and commodity product—between the true African fetish and airport art—is, if often far from sharp, at least tenable. It wasn’t with the Shakers. Shaker style was a commodity almost as soon as Shakerism was a cult. Contrary to Thomas Merton’s romantic assertion that each Shaker chair was made as though no other chair had been made before, Shaker chairs and other wooden objects were made in semi-industrial conditions for a growing middle-class market.ought to drink from. By the mid-nineteenth century, “Shaker” had become a brand name.
It is here, ironically, in the need to make things to sell to other people, that the first stirrings of a distinct style begin. This is not to say that the objects were made insincerely, or that Shakerism in design was a scam. The built-in cupboards and chairs and ladders constructed only for other Shakers, in Shaker communities, are made in the same spirit as the things for sale. The point is that no line was drawn the other way around, either: what was made for sale looked like what was made for sacred. The urge to make consumer goods is, after all, one of the keenest spiritual disciplines that an ascetic can face: it forces spirit to take form. An ascetic drinking tea from a cup decides not to care what kind of cup he’s drinking from; an ascetic forced to make a cup has to ask what kind of cup he
As[Michael Downing author of “Shoes Outside the Door: Desire, Devotion, and Excess at San Francisco Zen Center,”] documents, its latest incarnation has been the Zen experience—which is uncannily like the Shaker experience, and which also involved the implantation of a slightly misunderstood alien dogma, and an immense outpouring of American spiritual yearning, a taste for commercial prosperity on the part of its leaders, and an inability to figure out what the hell to do about sex. As the Shakers made a revolution in American objects, American Zen made a revolution in American cooking, giving vegetarian food dignity. And, when the communities went into crisis, first the plates, and then the food, were what was left.
As it was, things got pretty ugly, and it's worth figuring out why. In her Jan. 15 column, Howell erred in saying that Abramoff gave campaign donations to Democrats as well as Republicans. In fact, Abramoff directed clients to give to members of both parties, but he had donated his own personal funds only to Republicans.
Howell's inadvertent error prompted a handful of bloggers to urge their readers to go to post.blog to vent their discontent, and in the subsequent four days we received more than a thousand comments in our public forum. Only, the word "comments" doesn't convey the obscene, vituperative tone of a lot of the postings, which were the sort of things you might find carved on the door of a public toilet stall. About a hundred of them had to be removed for violating the Post site's standards, which don't allow profanity or personal attacks.
To my dismay, matters only got worse on Jan. 19 after Howell posted a clarification on washingtonpost.com. Instead of mollifying angry readers, the clarification prompted more than 400 additional comments over the next five hours, many of them so crude as to be unprintable in a family newspaper. Soon the number of comments that violated our standards of Web civility overwhelmed our ability to get rid of them; only then did we decide to shut down comments on the blog.
This all raises a question: Why are people so angry? It was a mistake, it was corrected.
For all the good things it has brought our society, the Web has also fostered ideological hermits, who only talk to folks who believe exactly what they do. This creates an echo chamber that only further convinces people that they are right, and everyone else is not only wrong, but an idiot or worse. So when an incident like this one arises, it's not enough to point out an error; they must prove that the error had nefarious origins. In some places on the Web, everything happens on a grassy knoll.
MILWAUKEE — One woman here killed a friend after they argued over a brown silk dress. A man killed a neighbor whose 10-year-old son had mistakenly used his dish soap. Two men argued over a cellphone, and pulling out their guns, the police say, killed a 13-year-old girl in the crossfire.
While violent crime has been at historic lows nationwide and in cities like New York, Miami and Los Angeles, it is rising sharply here and in many other places across the country.
And while such crime in the 1990's was characterized by battles over gangs and drug turf, the police say the current rise in homicides has been set off by something more bewildering: petty disputes that hardly seem the stuff of fistfights, much less gunfire or stabbings.
Suspects tell the police they killed someone who "disrespected" them or a family member, or someone who was "mean mugging" them, which the police loosely translate as giving a dirty look. And more weapons are on the streets, giving people a way to act on their anger.
Police Chief Nannette H. Hegerty of Milwaukee calls it "the rage thing."
"We're seeing a very angry population, and they don't go to fists anymore, they go right to guns," she said. "A police department can have an effect on drugs or gangs. But two people arguing in a home, how does the police department go in and stop that?"
Here in Milwaukee, where homicides jumped from 88 in 2004 to 122 last year, the number classified as arguments rose to 45 from 17, making up by far the largest category of killings, as gang and drug murders declined.
"It's just as if a man were wounded with an arrow thickly smeared with poison. His friends & companions, kinsmen & relatives would provide him with a surgeon, and the man would say, 'I won't have this arrow removed until I know whether the man who wounded me was a noble warrior, a priest, a merchant, or a worker.' He would say, 'I won't have this arrow removed until I know the given name & clan name of the man who wounded me... until I know whether he was tall, medium, or short... until I know whether he was dark, ruddy-brown, or golden-colored... until I know his home village, town, or city... until I know whether the bow with which I was wounded was a long bow or a crossbow... until I know whether the bowstring with which I was wounded was fiber, bamboo threads, sinew, hemp, or bark... until I know whether the shaft with which I was wounded was wild or cultivated... until I know whether the feathers of the shaft with which I was wounded were those of a vulture, a stork, a hawk, a peacock, or another bird... until I know whether the shaft with which I was wounded was bound with the sinew of an ox, a water buffalo, a langur, or a monkey.' He would say, 'I won't have this arrow removed until I know whether the shaft with which I was wounded was that of a common arrow, a curved arrow, a barbed, a calf-toothed, or an oleander arrow.' The man would die and those things would still remain unknown to him.
"In the same way, if anyone were to say, 'I won't live the holy life under the Blessed One as long as he does not declare to me that 'The cosmos is eternal,'... or that 'After death a Tathagata neither exists nor does not exist,' the man would die and those things would still remain undeclared by the Tathagata.
As much of the Islamic world erupts in a studied frenzy over the Danish Muhammad cartoons, there are voices of reason being heard on both sides. Some Islamic leaders and organizations, while endorsing the demonstrators' sense of grievance and sharing their outrage, speak out against using violence as a vehicle of expression. Their Western counterparts -- intellectuals, including most of the major newspapers in the United States -- are similarly balanced: While, of course, endorsing the principle of free expression, they criticize the Danish newspaper for abusing that right by publishing offensive cartoons, and they declare themselves opposed, in the name of religious sensitivity, to doing the same.
Now, do you notice what gets left unsaid in all this?
Right.
What did Reid do in response? That's really the key issue.
Did he intervene on behalf of Abramoff's Marianas clients? The gist of the whole narrative is that Reid was Team Abramoff's go-to guy to kill the bill that would have hurt the Marianas sweatshop owners.
But did he actually rise to the bait?
I rung up Reid spokesman Jim Manley. He said Reid was a "cosponsor of Sen. Kennedy's bill; he spoke in favor of the bill on the Senate; he was a strong supporter of the bill." When I pressed Manley on whether Sen. Reid took any action adverse to the bill or made changes in timing that lead to the bill's demise, he said, "No."
Then I got hold of Ron Platt, the lobbyist referenced in the passage above, on his cell phone while he was down at a conference in Florida. I asked him whether, to the best of his recollection, Reid had taken any action against the Kennedy bill. "I'm sure he didn't," Platt told me.
According to Platt, the purpose of his contacts was to see what information he could get about the timing and status of the legislation. Reid's position on the minimum wage issue was well known and there would have been no point trying to get his help blocking it. That's what Platt says. "I didn't ask Reid to intervene," said Platt. "I wouldn't have asked him to intervene. I don't think anyone else would have asked. And I'm sure he didn't."
Now, obviously, both Reid's office and Platt are interested parties on this question. If there were evidence to the contrary you wouldn't necessarily want to take their statements at face value. But as far as I can tell there is no evidence to the contrary. And that's after speaking with supporters of the legislation who would probably know. They don't seem to think Reid had anything to do with tanking the minimum wage bill. Nothing.
In this case, despite the AP story's narrative of lobbyist contacts, there doesn't seem to be any evidence whatsoever that Reid ever took any action on behalf of Abramoff's Marianas clients.
Wasn't that worth a mention?
Feb. 13, 2006 issue - Newly released court papers could put holes in the defense of Dick Cheney's former chief of staff, I. Lewis (Scooter) Libby, in the Valerie Plame leak case. Lawyers for Libby, and White House allies, have repeatedly questioned whether Plame, the wife of White House critic Joe Wilson, really had covert status when she was outed to the media in July 2003. But special prosecutor Patrick Fitzgerald found that Plame had indeed done "covert work overseas" on counterproliferation matters in the past five years, and the CIA "was making specific efforts to conceal" her identity, according to newly released portions of a judge's opinion. (A CIA spokesman at the time is quoted as saying Plame was "unlikely" to take further trips overseas, though.)

When is this much vaunted 'world view' of yours going to actually produce results beside Joe Carter missing the most obvious disaster in 100 years and blabbering on about his superior 'methodology'? Because while you carp and whine and bitch and moan about the evil scientific 'establishment, I and those same materialists were saving lives, predicting the disaster down to the time, place, and details, and putting people up in our homes house and organizing the first online center for evacuees to fund refuge; before you had a clue, before it even happened! How? Why using science!
A shill is an associate of a person selling goods or services, who pretends no association to the seller and assumes the air of an enthusiastic customer. The intention of the shill is, using crowd psychology, to encourage other potential customers, unaware of the set-up, to purchase said goods or services. Shills are often employed by confidence artists.

Yak Shaving -- [MIT AI Lab, after 2000: orig. probably from a Ren & Stimpy episode.] Any seemingly pointless activity which is actually necessary to solve a problem which solves a problem which, several levels of recursion later, solves the real problem you're working on.
he 10 tenents of chindogu
---
1. a chindogu cannot be for real use.
it is fundamental to the spirit of chindogu that inventions
claiming chindogu status must be, from a practical point of
view, (almost) completely useless. if you invent something
which turns out to be so handy that you use it all the time,
then you have failed to make a chindogu.
try the patent office.
2. a chindogu must exist.
you are not allowed to use a chindogu, but it must be made.
you have to be able to hold it in your hand and think:
'I can actually imagine someone using this. almost.'
in order to be useless, it must first be.
3. inherent in every chindogu is the spirit of anarchy.
chindogu are man-made objects that have broken free from
the chains of usefulness. they represent freedom of thought
and action: the freedom to challenge the suffocating historical
dominance of conservative utility; the freedom to be (almost)
useless.
4. chindogu are tools for every day life.
chindogu are a form of nonverbal communication understandable
to everyone, everywhere. specialized or technical inventions,
like a three- handled sprocket loosener for drainpipes centered
between two under-the sink cabinet door (the uselessness of
which will only be appreciated by plumbers), do not count.
5. chindogu are not for sale.
chindogu are not tradable commodities. if you accept money
for one you surrender your purity. they must not even be sold
as a joke.
6. humor must not be the sole reason for creating a chindogu.
the creation of chindogu is fundamentally a problem-solving
activity. humor is simply the by-product of finding an elaborate
or unconventional solution to a problem that may not have
been that pressing to begin with.
7. chindogu is not propaganda.
chindogu are innocent. they are made to be used,
even though they cannot be used. they should not be created
as a perverse or ironic comment on the sorry state of mankind.
8. chindogu are never taboo.
the international chindogu society has established certain
standards of social decency. cheap sexual innuendo, humor
of a vulgar nature, and sick or cruel jokes that debase the
sanctity of living things are not allowed.
9. chindogu cannot be patented.
chindogu are offerings to the rest of the world, they are not
therefore ideas to be copyrighted, patented, collected and owned.
as they say in spain, 'mi chindogu es tu chindogu'.
10. chindogu are without prejudice.
chindogu must never favor one race or religion over another.
young and old, male and female, rich and poor, all should have
a free and equal chance to enjoy each and every chindogu.
Despite opposition from some of their colleagues, 86 evangelical Christian leaders have decided to back a major initiative to fight global warming, saying "millions of people could die in this century because of climate change, most of them our poorest global neighbors."...
The statement calls for federal legislation that would require reductions in carbon dioxide emissions through "cost-effective, market-based mechanisms" — a phrase lifted from a Senate resolution last year and one that could appeal to evangelicals, who tend to be pro-business. The statement, to be announced in Washington, is only the first stage of an "Evangelical Climate Initiative" including television and radio spots in states with influential legislators, informational campaigns in churches, and educational events at Christian colleges...
Some of the nation's most high-profile evangelical leaders, however, have tried to derail such action. Twenty-two of them signed a letter in January declaring, "Global warming is not a consensus issue." Among the signers were Charles W. Colson, the founder of Prison Fellowship Ministries; James C. Dobson, founder of Focus on the Family; and Richard Land, president of the Ethics and Religious Liberty Commission of the Southern Baptist Convention.
Their letter was addressed to the National Association of Evangelicals, an umbrella group of churches and ministries, which last year had started to move in the direction of taking a stand on global warming. The letter from the 22 leaders asked the National Association of Evangelicals not to issue any statement on global warming or to allow its officers or staff members to take a position.
E. Calvin Beisner, associate professor of historical theology at Knox Theological Seminary in Fort Lauderdale, Fla., helped organize the opposition into a group called the Interfaith Stewardship Alliance. He said Tuesday that "the science is not settled" on whether global warming was actually a problem or even that human beings were causing it. And he said that the solutions advocated by global warming opponents would only cause the cost of energy to rise, with the burden falling most heavily on the poor.
HOUSTON, Feb 7 (Reuters) - Mandating costly alternatives to oil in the name of a cleaner environment could impoverish people and lower living standards, the Saudi Arabian oil minister said on Tuesday.
"I believe that we should not impoverish people in the name of a cleaner environment," Saudi Oil Minister Ali Al-Naimi told an energy conference. "Lowering living standards, or limiting peoples' ability to rise out of poverty, in order to improve the environment trades one potential health hazard for another."
He said that would be the result of asking consumers to give up oil for a less efficient and more costly alternative fuel that would otherwise be uneconomical.
Naimi's comments came a few days after U.S. President George W. Bush said America was addicted to Middle Eastern oil. He also committed to raising alternative energy funding by 22 percent for clean coal, wind and solar power, ethanol, and fuel cells.
he largest study ever to ask whether a low-fat diet keeps women from getting cancer or heart disease has found that the diet had no effect.
The $415 million federal study involved nearly 49,000 women aged 50 to 79 who were followed for eight years. In the end, those assigned to a low-fat diet had the same rates of breast cancer, colon cancer heart attack and stroke as those who ate whatever they pleased, researchers are reporting today.
"These are three totally negative studies," said Dr. David Freedman, a statistician at the University of California at Berkeley, who is not connected with the study but has written books on clinical trial design and analysis. And, he said, the results should be taken seriously for what they are — a rigorous attempt that failed to confirm a popular hypothesis that a low-fat diet can prevent three major diseases in women.
And the studies were so large and so expensive that they are "the Rolls Royce of studies," said Dr. Michael Thun, who directs epidemiological research for the American Cancer Society. As such, he said, they are likely to be the final word.
"We usually have only one shot at a very large scale trial on a particular issue," Dr. Thun said.
The studies were part of the Women's Health Initiative of the National Institutes of Health, the same program that showed that hormone therapy after menopause can have more risks than benefits. In this case, the diet studies addressed a tricky problem. For decades, many scientists have been saying, and many members of the public have been believing, that what you eat — the composition of the diet — determines how likely you are to get a chronic disease. But it has been hard to prove. Studies of dietary fiber and colon cancer failed to find that fiber was protective. Studies of vitamins thought to protect against cancer failed to show an effect.
Gradually, many cancer researchers began questioning the dietary fat-cancer hypothesis, but it has retained a hold on the public imagination.
What is the “center” on issues such as abortion or tax cuts where many people believe there is no middle ground?
Unlike the Left and Right, the Center is not defined by a particular philosophical position.
A true centrist, rather than a person who is simply less liberal or less conservative than others within her party, would always take the most pragmatic action in order to avoid alienating her constituency.
After examining a significant amount of polling data I was led to the conclusion that on almost any major political issue that requires legislative action, the best course to take is to do nothing. While you will not please everyone, you will be able to consistently satisfy a majority of the voters, thereby securing your incumbency. Centrism, in other words, leads to a tautological electoral strategy: maintaining the status quo maintains the status quo.
He, therefore, argued that quality engineering should start with an understanding of the cost of poor quality in various situations. In much conventional industrial engineering the cost of poor quality is simply represented by the number of items outside specification multiplied by the cost of rework or scrap. However, Taguchi insisted that manufacturers broaden their horizons to consider cost to society. Though the short-term costs may simply be those of non-conformance, any item manufactured away from nominal would result in some loss to the customer or the wider community through early wear-out; difficulties in interfacing with other parts, themselves probably wide of nominal; or the need to build-in safety margins. These losses are externalities and are usually ignored by manufacturers. In the wider economy the Coase Theorem predicts that they prevent markets from operating efficiently. Taguchi argued that such losses would inevitably find their way back to the originating corporation (in an effect similar to the tragedy of the commons) and that by working to minimise them, manufacturers would enhance brand reputation, win markets and generate profits.
Such losses are, of course, very small when an item is near to nominal. Donald J. Wheeler characterised the region within specification limits as where we deny that losses exist. As we diverge from nominal, losses grow until the point where losses are too great to deny and the specification limit is drawn. All these losses are, as W. Edwards Deming would describe them, ...unknown and unknowable but Taguchi wanted to find a useful way of representing them within statistics. Taguchi specified three situations:
- Larger the better (for example, agricultural yield);
- Smaller the better (for example, carbon dioxide emissions); and
- On-target, minimum-variation (for example, a mating part in an assembly).
The first two cases are represented by simple monotonic loss functions. In the third case, Taguchi adopted a squared-error loss function on the grounds:
- It is the first symmetric term in the Taylor series expansion of any reasonable, real-life loss function, and so is a "first-order" approximation;
- Total loss is measured by the variance. As variance is additive it is an attractive model of cost; and
- There was an established body of statistical theory around the use of the least squares principle.
The squared-error loss function had been used by John von Neumann and Oskar Morgenstern in the 1930s. There is a theorem I think - help appreciated
Though much of this thinking is endorsed by statisticians and economists in general, Taguchi extended the argument to insist that industrial experiments seek to maximise an appropriate signal to noise ratio representing the magnitude of the mean of a process, compared to its variation. Most statisticians believe Taguchi's signal to noise ratios to be effective over too narrow a range of applications and they are generally deprecated.
Let us also dismiss the silly notion that this conflict is about “free speech” or “freedom of the press.” From reading the op-eds and blog posts one could get the impression that the media is willing to gore all sacred cows and that Muslims are resorting to special pleading by expecting an exemption for their beliefs. This is, of course, utter nonsense. While it may be de rigueur to insult religious sensibilities, the press has built an invisible barrier of offense which they will not cross.
Few newspapers, for instance, are willing to show images, whether photographic or in drawing, of child pornography, dead soldiers, or unborn babies. The issue isn’t whether there is a line of offense which should not be crossed, but rather a question of what lies on each side of the Maginot Line. The Muslim protestors and the European journalists disagree about where that line should be drawn. But no one seriously argues that such a line doesn’t exist.
This is breathtaking in its - I can only come up with "phoniness" as a synonym for disingenuousness.
Follow the links; you'll click through to some pro-women's death group that couldn't get an ad run in an American paper.
And you know that all "media" is alike; Danish, Zimbabwean, Chinese, CBC, Pravda, etc...
We also know that depictions of kiddie porn is illegal. In Denmark too.
So what's Carter's point?We not only treasure the “right to blaspheme” but mock and deride the very idea that anything can be considered sacred. Anything, that is, except the sacred right to say whatever we want, whenever we want, wherever we want in the hopes of offending as many people as possible. While this freedom must be guarded, it should be carried out with a deep reluctance and the odium of “good men.”
But while the Danish newspaper, their supporters in the European press, and their apologists in the American media and blogosphere, have aligned with the baser elements of our culture, the reaction in much of the Muslim world has been abhorrent....
But just once I’d like to be called upon to champion speech that is true, honorable, just, and pure. Just once I’d like to defend a freedom that wasn’t vulgar, degraded, and profane. Just once I’d like to defend freedom that aspired to the ideals of Thomas Jefferson rather than to the inclinations of Larry Flynt.
Sorry, Joe, the right to blaspheme is probably among the most important expression that really needs defending; the right to blaspheme Dear Leaders Kim Il Sung or George W. Bush; the right to blaspheme Jesus, Mohammed, the Buddha, John Kerry, Sean Hannity, John Lennon, the Holy Spirit, the Pope, Billy Graham, Larry Flynt, Jerry Falwell, the US Dollar, and so on.
Because it is attempt to quash those rights that yield attempts to squash the rights of people to publicize government wrongdoing, brutal, unjust wars, exploitation of people, hunger and so forth.
Moreover, whether it’s Islamic, Christian, Buddhist atheist, Taoist, or whatever sympathies, the ability to speak freely, without fear of physical coercion, is a higher priority than one’s feelings (yeah, go ahead and call gays immoral if you want- it’s your right). Why? Because to do otherwise we would not be faithful to the duty of all people to live their lives authentically. And when we start to coerce people into being inauthentic, all kinds of harmful things result.
Not that I'd expect Carter to actually care about that...
In October, for example, George Deutsch, a presidential appointee in NASA headquarters, told a Web designer working for the agency to add the word "theory" after every mention of the Big Bang ... The Big Bang is "not proven fact; it is opinion," Mr. Deutsch wrote, adding, "It is not NASA's place, nor should it be to make a declaration such as this about the existence of the universe that discounts intelligent design ..."
Telling a spontaneous lie is similar to the Stroop task in that it involves holding two things in mind simultaneously — in this case, the truth and the lie — and making a choice about which one to apply.
Even as these small bits of data emerge through functional-M.R.I. imagery, however, Kosslyn remains skeptical about the brain-mapping enterprise as a whole. "If I'm right, and deception turns out to be not just one thing, we need to start pulling the bird apart by its joints and looking at the underlying systems involved," he said. A true understanding of deception requires a fuller knowledge of functions like memory, perception and visual imagery, he said, aspects of neuroscience investigations not directly related to deception at all.
In Kosslyn's view, brain mapping and lie detection are two different things. The first is an academic exercise that might reveal some basic information about how the brain works, not only during lying but also during other high-level tasks; it uses whatever technology is available in the sophisticated neurophysiology lab. The second is a real-world enterprise, best accomplished not necessarily by using elaborate instruments but by encouraging people "to use their two eyes and brains." Searching for a "lie zone" of the brain as a counterterrorism strategy, he said, is like trying to get to the moon by climbing a tree. It feels as if you're getting somewhere because you're moving higher and higher. But then you get to the top of the tree, and there's nowhere else to go, and the moon is still hundreds of thousands of miles away. Better to have stayed on the ground and really figured out the problem before setting off on a path that looks like progress but is really nothing more than motion. Better, in this case, to discover what deception looks like in the brain by breaking it down into progressively smaller elements, no matter how artificial the setup and how tedious the process, before introducing a lie-detection device that doesn't really get you where you want to go.
The rest of the article's worth reading - but keep in mind this isn't likely going to be ready for use by "the government" any time soon, or at least, there is going to be high error rates if they do deploy such "technology."
I guess either Spartacus or Jesus could use this to watch the big game on Sunday.
NEW YORK (MarketWatch) -- U.S. stocks ended lower Friday, capping a week of losses for the market after the Federal Reserve left open the possibility of further interest-rate increases, with a solid January jobs report only serving to build the case for higher rates...
In Friday's action, the January employment report left little doubt in most investors' minds that a March Fed rate hike is on the way."The main impetus behind the selling was the employment figures," said Al Goldman, chief market strategist at AG Edwards. "Even though we created 193,000 new jobs, which was less than consensus, the unemployment rate falling to 4.7% points out that the labor market is very tight and this has conjured up concern the Fed may not stop at 4.75% on Fed funds but maybe it will go up to 5%."
Goldman said a tight labor market worries the central bank as companies have to offer higher salaries to attract workers, which leads to wage inflation: "And the Fed is in business for one reason only, and that is to try and control inflation."
We're not saving money; its not clear whether or not we're consuming beyond essentials, but if we were, wouldn't it make more sense to have a policy that encouraged people to save, if curbing inflation were really the objective? Are we going to put enough people out of work so that we use less oil? So if enough of the freeze to death, will that make the economy boom?
Making matters even more absurd is the fact that the unemployment numbers are more or less "cooked," and don't reflect "discouraged workers." The discouraged workers aren't going to get encouraged- they've already likely fallen off the radar. So one wonders just what they'll be encouraged to do in the face of higher interest rates.
Why should there be a false choice between employment and inflation, "controlled" by higher interest rates? It's like using leeches...
1. For School Prayer and Amending the Constitution: Rep. Boehner supported a school prayer amendment to the United States Constitution in 1997 (H.J.Res. 78), 1999 (H.J.Res 66), and 2001 (H.J.Res. 52); voted to permit school prayer "during this time of struggle against the forces of international terrorism" (House Roll Call Vote 445, Nov. 15, 2001); and voted to only allow federal aid to schools that allow prayer (House Roll Call Vote 85, March 23, 1994).
2. For Forced Religion in Anti-Poverty Programs: Rep. Boehner voted to permit taxpayer-funded anti-poverty programs to require aid recipients to join in religious activities. (House Roll Call Votes 16 and 17, Feb. 4, 2004)
3. 100% Against a Woman's Right to Choose: Rep. Boehner received a "0%" pro-choice score from NARAL Pro-Choice America in 2005.
4. For Religious Employment Discrimination: Rep. Boehner voted to permit taxpayer-funded anti-poverty programs to engage in federally-funded employment discrimination. (House Roll Call Votes 15 and 17, Feb. 4, 2004)
5. Against the Rule of Law in Ten Commandments Case: Rep. Boehner voted to prevent the Justice Department from enforcing a court order to remove a 5,000 pound Ten Commandments monument from Alabama's state supreme court. (House Roll Call Vote 419, July 23, 2003)
6. Against Common-Sense Environmental Safeguards: Rep. Boehner voted for oil drilling in the Arctic National Wildlife Refuge (House Roll Call Vote 122, April 20, 2005); voted to gut the Endangered Species Act (House Roll Call Vote 506, September 29, 2005); and voted to weaken the National Environmental Policy Act (House Roll Call Vote 242, June 15, 2004).
7. For More Religious Employment Discrimination: Rep. Boehner voted to permit taxpayer-funded job training programs to engage in religious discrimination when hiring and firing employees with federal funds. (House Roll Call Vote 46, March 2, 2005)
8. Against Confronting Proselytizing at the Air Force Academy: Rep. Boehner voted against an amendment to squarely address religious coercion and proselytizing at the United States Air Force Academy in Colorado. The amendment criticized "coercive and abusive religious proselytizing" of cadets at the Academy while observing that "expression of personal religious faith is welcome" throughout the military. (House Roll Call Vote 283, June 20, 2005)
9. Led the Effort to Inject Religious Employment Discrimination into Head Start: Rep. Boehner added a controversial amendment in September to a previously bipartisan School Readiness Act which would "allow federally funded early-child-care providers to discriminate on religious grounds," according to The Forward. The Forward notes, "The federal government transfers about $6.7 billion annually to 19,000 Head Start providers in 50 states, three territories and the District of Columbia." Jewish groups opposed to the measure, according to The Forward, include the "Anti-Defamation League, the Union for Reform Judaism, the American Jewish Congress, the American Jewish Committee and the National Council of Jewish Women."
10. Pushed Ohio Schools to Embrace "Intelligent Design:" People For the American Way reports that Rep. Boehner and fellow Ohio Republican Rep. Steve Chabot wrote to the Ohio school board claiming that legislative language required that references to "Intelligent Design" be included in Ohio's science standards. In fact, such language was removed from the relevant education bill before it became final.
Well, that about wraps it up for 2006...hopefully...I often wonder if there's Republican Buddhists...but that's like wondering if there's unicorns these days.
Buridan's ass is the common name for the paradox which states that an entirely rational ass, placed between two stacks of hay of equal size and quality, will starve since it cannot make any rational decision to start eating one rather than the other. The paradox is named after the 14th century French philosopher Jean Buridan.
The paradox was, however, not originated by Buridan himself. It is first found in Aristotle's De Caelo where Aristotle asked how a dog faced with the choice of two equally tempting meals could rationally choose between the two. Buridan nowhere discusses this specific problem but its relevance is that he did advocate a moral determinism whereby, save for ignorance or impediment, a human faced by alternative courses of action must always choose the greater good. Buridan allowed that the will could delay the choice in order more fully to assess the possible outcomes of the choice. Later writers satirised this view in terms of an ass who, confronted by two equally desirable and accessible bales of hay, must necessarily starve while pondering a decision.
Another context where the paradox surfaces is as an attempted justification for faith. The argument is that, like the starving ass, we must make a non-rational choice in order to avoid being frozen in endless doubt. A typical counter-argument is that rationality as described in the paradox is so limited as to be a straw man of the real thing, which does allow the consideration of meta-arguments. In other words, it's entirely rational to recognize that both choices are equally good and arbitrarily pick one instead of starving. Other counter-arguments exist.
nvestors are most familiar with American Depositary Receipts that trade on the New York Stock Exchange, the American Stock Exchange and the Nasdaq -- companies like Nokia or BP PLC...
But an even deeper pool of foreign stocks exists in the pink sheets, also known as over-the-counter (OTC) markets -- a negotiated market where stocks aren't listed on an exchange. According to the Bank of New York, a depositary bank for ADRs, there are 489 U.S. exchange-listed ADRs and 899 pink sheets.
Pink sheet stocks look and function the same as a normal ADR, but aren't listed in New York. Price quotes can be found on the OTC Bulletin Board, an electronic quotation service maintained by Nasdaq, or on the Pink Sheets, a real-time electronic quotation service for OTC securities.
Stocks, which can be bought from most brokers, are priced and quoted in U.S. dollars and settle in U.S. markets. Major depositary banks -- Bank of New York, J.P. Morgan and Citibank -- also list prices of many pink sheets.
For investors, pink sheets are a path to foreign stocks that cuts out the hassle and expense of dealing in a foreign market, even if no U.S. exchange listing is available. "The important thing for U.S. investors is they get a much more efficient way to buy and sell a security," said R. Cromwell Coulson, CEO of Pink Sheets LLC.
Of course, there is risk involved with buying shares that aren't listed on a major exchange. The listing requirements for most pink sheets aren't as strict as the Sarbanes-Oxley rules that govern U.S.-listed ADRs. That means investors may sometimes find less information on pink-sheet companies, said Todd Lard, director of Global Investing Services at Charles Schwab & Co.
Liquidity can also be an issue when dealing with nonexchange ADRs. "Depending on if they're really illiquid, the spread (the difference between bid and ask) will be pretty large. It can be difficult for a client to get in and out. With the more active pink issues, when you have liquidity, it's not more of an issue," Lard said.
Diplomatically, Mr. Bush's ambitious call for the replacement of 75 percent of the United States' Mideast oil imports with ethanol and other energy sources by 2025 upset Saudi Arabia, the main American oil supplier in the Persian Gulf. In an interview on Wednesday, the Saudi ambassador to Washington, Prince Turki al-Faisal, said he would have to ask Mr. Bush's office "what he exactly meant by that."
Politically, both parties on Capitol Hill displayed a lack of enthusiasm. Democrats said Mr. Bush had opposed foreign oil reduction targets in last year's energy bill, and Republicans questioned the practicality of relying on ethanol and other alternatives.
Scientifically, researchers said ethanol and other alternative fuels were still years away from widespread commercial use.
Economically, energy analysts said Mr. Bush's goal of reducing Mideast oil imports would have little practical benefit because oil was traded in world markets and its price was determined by global supply and demand, rather than bought from one country by another.
"If the United States was zero-dependent on Middle Eastern oil, but the rest of our allies among consuming nations were just as dependent, then a disruption anywhere is a price increase everywhere," said Lawrence Goldstein, the president of the Petroleum Industry Research Foundation, a policy analysis group in New York.
Mr. Bush, like other modern presidents, has talked since the earliest days of his administration about weaning the United States off oil, but mostly by supporting an increase in domestic production. On Wednesday afternoon, Vice President Dick Cheney said on Rush Limbaugh's radio program that the administration would continue to push to open part of the Arctic National Wildlife Refuge to drilling.
The difference on Tuesday was Mr. Bush's emphasis on alternative energy sources that he had not made a top focus in the past: better batteries for hybrid and electric cars, hydrogen cars, ethanol from wood and agricultural waste, solar and wind technologies and what he called "clean, safe nuclear energy."
The president's tone was so changed, in fact, that some analysts said he sounded like a Democrat. Dan W. Reicher, who served in the Energy Department during the Clinton administration, said Mr. Bush's ideas showed "an uncanny resemblance" to some Clinton efforts.
That's right- the NY Times tells whether one sounds like a Republican or Democrat from their "tone" not their "content." The "unncanny resemblance," I would wonder, exactly has what kind of relation to the fact that it's a pittance, a negligible effort?
I leave that with you...as psychic George used to say...
Hojo [752-839], successor of Master Baso Do-itsu). Zen Master Hojo was a man of the Joyo district (in present-day Hupei province in east China).
In former days, when visiting Baso’s order, he asked, “What is Buddha?”
Baso said, “The mind here and now is Buddha.”
Hearing these words, Hojo realized the great state of realization under their influence. Consequently, he climbed to the summit of Daibai-zan (“Great Plum”) Mountain, away from human society, and lived in solitude in a thatched hut, eating pine nuts and wearing clothes made from lotus leaves: there was a small pond on the mountain, and many lotuses grew in the pond. He sat in Zazen and pursued the truth for more than thirty years. He saw and heard absolutely nothing of human affairs, and he lost track of the passing years, only seeing the mountains all around go from green to yellow. One pities to imagine what the winds and frosts were like.
In Zazen, the Master placed an eight-inch iron tower on his head, as if he were wearing a crown. By endeavoring to keep the tower from dropping to the ground, he did not fall asleep. The tower remains in the temple today: it is listed in the records of the temple storehouse. This is how he pursued the truth until his death, never tiring of the effort.
So George W. Bush says he's going to try to get us off Mideast oil...[ Background: The policy of ending tyranny was set forth in his second inaugural address, in Jan. 2005. ]
The best way to break this addiction is through technology. Since 2001, we have spent nearly $10 billion to develop cleaner, cheaper and more reliable alternative energy sources. And we are on the threshold of incredible advances. So tonight, I announce the Advanced Energy Initiative, a 22 percent increase in clean-energy research at the Department of Energy to push for breakthroughs in two vital areas. To change how we power our homes and offices, we will invest more in zero-emission coal-fired plants, revolutionary solar and wind technologies and clean, safe nuclear energy.
| CURRENT MOON moon phase info |