Wednesday, February 29, 2012

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http://hat4uk.wordpress.com/2012/02/29/eurozone-crisis-ignore-the-spin-the-ecb-is-buying-bonds-again-turkey-is-about-to-go-bang/

"EUROZONE CRISIS: IGNORE THE SPIN – THE ECB IS BUYING BONDS AGAIN, & TURKEY IS ABOUT TO GO BANG

As Monti says eurocrisis is abating, banks hoover up record LTRO, ECB buys Portugal bonds, and S&P draws local contagion map. This is an abating crisis?
You may have believed all that Brussels bollocks about the ECB’s eurozone bond buying programme being at an end. Well…it isn’t. After Portugal’s 10- year bonds fell to less than half their face value, I can reveal that SuperMario dived in to stop things turning into a rout. And if necessary, the Italian Stallion will do so again.
Meanwhile, the banks described constantly by Brussels as ultra-safe stole a record 530 billion euros from SuperMario’s ECB, so great was their desire to lend to eurobusiness. The only problem being that, thus far, there’s zero evidence of so much as one centime being lent to business. Whatever can they be using this money for?
Even the ever-inventive S&P can’t answer that one, for fear of upsetting the whole apple-cart. But it has come up with an intriguing new product designed to measure the risk to those economies on the fringes of – or just outside – the eurozone. And guess what? The Slog’s much-predicted demise of Turkey seems to be very much on the cards. The Emerging Europe Sensitivity Index (EESI) gives Erdogan’s mad economy a score of 2.94 – easily the highest around – as a result of the Great Leader’s insane Sharia credit-boom thinking. Fascinatingly, the country lying second most vulnerable to eurozone hubris is luckless Hungary….currently being bullied by that very same eurozone into doing its neocon bidding.
But despite all this evidence of impending disaster on several fronts, Goldman Sachs Schutzstaffel parachutist Mario Monti of Italy says the worst is now over for the EU. Two weeks ago, Signor Monti was suggesting that one day, the bond spreads between Germany and Italy would narrow. Now he’s moving things forward (based on zero evidence) and asserting that “I don’t think it is likely spreads will widen again”. That’s a different thing entirely, but Mario is smart enough to understand that in the age of 24/7 news, this will have a confidence-boosting effect, without the downside of somebody saying, “Are you nuts or what?” But he didn’t reckon with The Slog, ha-haar.
There’s no holding Mario Monti now. Asked about Berlin’s ‘issues with’ aka ‘refusal to consider’  increasing the ezone firewall fund, Monti told reporters today, “They didn’t say they don’t want to discuss this in March; they prefer not to discuss this on the 1st of March. March has, luckily enough, 31 days.” Beware the Ides of March.
You really couldn’t make some of this stuff up. Tomorrow in the late afternoon, ISDA is very likely to call the Greek debt restructure a full-on default, and thus help to trigger a major-league CDS insurance Tsunami with which Wall Street must deal. Meanwhile, we still don’t know if the IIF is going to play ball, or indeed what any of the Hedgies think on the question of Greek debt holdout.
But apart from that, the eurocrisis is abating, and the worst is over. Excellent."

http://www.nakedcapitalism.com/2012/02/links-leap-year-day-2.html

Links Leap Year Day

I wonder at what age people born on February 29 decide that having a real birthday only one year in four is no biggie.
New evidence suggests Stone Age hunters from Europe discovered America Independent (hat tip Lambert)
Google offers 1 million dollars to Chrome hackers Nation (hat tip reader furzy mouse)
Safety Alerts Cite Cholesterol Drugs’ Side Effects New York Times. I recall, not that long ago, doctors declaring statins to be so safe that they wanted to add them to the water supply!
Bill Gates’ support of GM crops is wrong approach for Africa Seattle Times (hat tip reader furzy mouse)
Gloom, doom — and Lester Brown’s ‘Plan B’ Japan Times
A brief history of the time Stephen Hawking went to a sex club: University says physicist visited California swingers’ club with friends Daily Mail. This from a hedgie reader who will go unnamed.
Corseted Minds: Does Fear of Irrelevance Send Conservative Men Fleeing to the Victorian Age? Lynn Parramore, Alternet
Wikileaks Reveals Privately Run CIA’s Dirty Secrets (Update 2) Gizmodo (hat tip reader May S)
Rachel Marsden: New WikiLeaks stash: a frightening view of government intelligence Chicago Tribune
Wikileaks emails indicate Stratfor discovered Israel already destroyed Iran’s nuclear facilities Raw Story (hat tip reader Amit). As we indicated, Haaretz reported on this yesterday.
Exploding the myth of the Iranian Bomb Spiked (hat tip reader May S)
U.S. Cuts Iran Cash Pipeline Wall Street Journal. With as much offshore banking as there is and people like Marc Rich very much around, I suspect the headlines exaggerate the achievement.
We won’t give US advance warning of Iran strike, says Israel Independent (hat tip Lambert)
Hi, I’m from the IMF. I’m here to help. MacroBusiness
ECB’s Second Three-Year Loan May Be Last Bloomberg
Europe banks hungry for second helpings Financial Times
Phone-hacking will be the single largest corporate corruption case for 250 years because ‘cover up’ went up ‘to the very highest levels, says MP Daily Mail (hat tip reader May S).
Manchester, Liverpool and Birmingham becoming ‘no-go areas’ because of drugs gangs… just like Mexico and Brazil says the UNITED NATIONS Daily Mail (hat tip reader May S)
Virginia Says No to Lawless Imprisonment David Swanson
Ayn Rand Worshippers Should Face Facts: Blue States Are the Providers, Red State Are the Parasites Alternet (hat tip reader furzy mouse)
Democracy Alliance Pulls Support for Organizations that Don’t Play Ball Dave Dayen, Firedoglake (hat tip reader Carol B). More veal pen in action.
Why I do not like small cap stocks much at the moment John Hempton
Lawmakers To The Rescue? Legislation Filed To Fix “Ibanez” Foreclosure Title Defects Massachusetts Law Blog. Reader Deontos does not like the look of this.
Fannie Mae, Freddie Mac, and the MBS sleeper defense Alison Frankel (hat tip reader Deontos). Bye bye FHFA putback suits?
So, how can bankers live with themselves? Guardian (hat tip reader John L)
Antidote du jour:


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@09:28, 02/29/12

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@08:02, 02/28/12 2

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  • TimesPeople recommended a user:
    Feb 27, 2012
    maryso lovable
    • Wesley Jackson posted to Twitter an article:
      Feb 21, 2010
      Xerox’s New Chief Tries to Redefine Its Culture
      “Xerox’s New African American Female Chief Tries to Redefine Its Culture - http://nyti.ms/aWz336” 
      I think not.
      The company will probably do well now.  
      They may have returned to innovation.
      http://www.xerox.com/
      http://en.wikipedia.org/wiki/Xerox#History
      http://en.wikipedia.org/wiki/Xerox#Chief_executives

      Chief executives

      Chief executives
      Name Title Tenure Photo
      George C. Seager President 1906–1912
      Gilbert E. Mosher President 1912–1938
      Joseph R. Wilson President 1938–1946
      Joseph C. Wilson President
      CEO
      1946–1966
      1961–1967

      C. Peter McColough CEO 1968–1982 Charles Peter McColough - Xerox Corporation.jpg
      David T. Kearns CEO 1982 – July 31, 1990
      Paul A. Allaire CEO August 1, 1990 – April 6, 1999
      G. Richard Thoman CEO April 7, 1999 – May 10, 2000
      Paul A. Allaire CEO May 11, 2000 – July 31, 2001
      Anne M. Mulcahy CEO August 1, 2001 – July 1, 2009
      Ursula M. Burns CEO July 1, 2009 – present  




  •   
    TimesPeople recommended a user:
    Feb 27, 2012
    Wesley Jackson
    • Wesley Jackson posted to Twitter an article:
      Feb 21, 2010
      Do Not Pass
      “Do Not Pass - http://nyti.ms/9Rq2Tu” 
      Do not confuse the tar baby with the briar patch.
      The briar patch is an hostile environment that is home for some.
      The briar patch could be understood a slave culture both in Africa and the Americas.
      The Tar Baby looks to me much more like racism.  
      An attractive bait  that adheres to and traps all who come in contact with it.   
      Moynihan had the ill luck to attach a powerful sociological observation to a piece of racist propaganda.  Racism fouled the perception of a culture of poverty to the point that the understanding is unusable in any nonracial context.
      It is a sad loss for social engineering, the essence of politics.
  • TimesPeople recommended a user:
    Feb 27, 2012
    Alvin aqua Blanco
    • Alvin aqua Blanco posted to Twitter an article:
      Jul 25, 2011
      Oslo Suspect Cultivated Parallel Life to Disguise ‘Martyrdom Operation’
      “psycho bastard. | Oslo Suspect Cultivated Parallel Life to Disguise ‘Martyrdom Operation’ - http://nyti.ms/qG6BUi” 
      The degree of planning and organization required to raid Rome with rowboats has not been exceeded.
      Norway considers him insane but he is far from stupid. 
      His ignorance of the state of his native society is amazing.
      He will spend many years in an asylum with no control of the doors.
    • Alvin aqua Blanco posted to Twitter an article:
      Jul 4, 2011
      More Hispanics in U.S. Calling Themselves Indian
      “More Hispanics in U.S. Calling Themselves Indian - http://nyti.ms/kuamiB” 
      A language includes  an idiomatic burden that is an inseparable part of it.  Cervantes comes with the language of Spain as Shakespeare comes with English.  
      They may be Indians but they are Hispanic Indians.
    • Alvin aqua Blanco posted to Twitter a blog post:
      Jul 3, 2011
      George Lucas Helps Scholars for 'Star Wars and History'
      “George Lucas Helps Scholars for 'Star Wars and History' - http://nyti.ms/kriOUv” 
      We have about five thousand years of historical record.
      We have about three thousand years of mathematical thinking available to us.
      My father told me that the easiest way to solve a problem is to find a similar problem in the record with a successful resolution and do something similar.  The records of failure are also useful as object lessons of courses to be avoided.  Conditions are always different.  Conditions surrounding the problem must be considered. 
      Both ignoring history and trying to repeat it are formulas for disaster.

  • TimesPeople recommended a user:
    Feb 27, 2012
    thomas Johnson Jr
    • thomas Johnson Jr posted to Twitter a review:
      May 30, 2011
      Willis Tower Suspends Visitors Above Chicago
      “I wanna do this --- Willis Tower Suspends Visitors Above Chicago - http://nyti.ms/mxPR6D” 
      I like it but many will not.  We have lived through a time for architectural adventure.  
      Let us build "rentable space".  
      A personal home built for cash can fit the mind of the owner.
      A property with a mortgage must please the loan officer at the bank.
      I don't want to worry about the loan officer.
  • TimesPeople recommended a user:
    Feb 27, 2012
    WRBGRADIO
    • WRBGRADIO posted to Twitter a blog post:
      Dec 3, 2009
      Court Deals a Blow to Columbia’s Expansion Plans
      “Court prevents Columbia from claiming eminent domain in Harlem! (Muy Grande for the Harlem Natives!) - http://bit.ly/7cAcQJ” 
      Columbia will just have to pay his price.  
      They are well able to do it. 
      The project wiped out George's interest in the area.
      George will go up to Yonkers if his present operation dies.
      I think he will live through this winter.
      He will suffer in this storm but his landlord will not evict him to build.
  • TimesPeople recommended a user:
    Feb 27, 2012
    Seth Hart
  • TimesPeople recommended a user:
    Feb 27, 2012
    Xoch
  • TimesPeople recommended a user:
    Feb 27, 2012
    urbanamerica87
    • urbanamerica87 posted to Twitter an article:
      Jun 14, 2011
      East River Ferry Service Begins
      “East River Ferry Service Begins - http://nyti.ms/mKTuHj / Awesome, but only serves a minimal number of NYers & doesnt accept metro cards.” 
      This is not a new service.  I have taken the boat on several occasions.  It is a wonder and I hope it survives. 
  • TimesPeople recommended a user:
    Feb 27, 2012
    StefenRShort
  • TimesPeople recommended a user:
    Feb 27, 2012
    SpecBoogie
    • SpecBoogie posted to Twitter a blog post:
      Feb 22, 2010
      Screen Grabs of Brooklyn
      “Screen Grabs of Brooklyn - http://nyti.ms/dnwL3M” 
      There seems to be no good way to buy electricity.
      There is lots of green wash and marketing.

      I will look very carefully before putting collectors on the roof.

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  • TimesPeople recommended a user:
    Feb 27, 2012
    StellasKid
  • TimesPeople recommended a user:
    Feb 27, 2012
    tymxprodukshunz
    • tymxprodukshunz posted to Twitter a blog post:
      Apr 12, 2011
      A Conflict's Acoustic Shadows
      “Piggybacking my Civil War thought from earlier. A Conflict's Acoustic Shadows - http://nyti.ms/gxuOwp” 
      Ken Burns did much to cauterize the wound.
      Healing is a project for the gods.
      Generations of doctoral students can puzzle over the ramifications of Richard Nixon's southern strategy.
      If I have a legacy to dispose of a foundation for societal design could adsorb endless resources.
  • TimesPeople recommended a user:
    Feb 27, 2012
    wizzerhams
    • MeredithGoad posted to Twitter an article:
      Mar 15, 2011
      Mexico Puts Its Children on a Diet
      “Mexico Puts Its Children on a Diet - http://nyti.ms/emMT0q” 
      Bookmarked under food.  
      I will study this but not tonight.
      A great deal of monocrop agriculture has gone south.
      Plantations are not good for the local diet.
  • TimesPeople recommended a user:
    Feb 27, 2012
    Megan Bungeroth
    • Megan Bungeroth posted to Twitter an editorial:
      Jun 2, 2011
      Quiet? In New York City? In Central Park?
      “Quiet? In New York City? In Central Park? - http://nyti.ms/mvTAuK @NYTimes asks why @CentralParkBuzz & NYPD are cracking down on musicians.” 
      A loud musician or attempted musician privatizes the acoustic space around.  
      The parks, being public, must not allow excessive privatization.
  • TimesPeople recommended a user:
    Feb 27, 2012
    WordOnColumbia
  • TimesPeople recommended a user:
    Feb 27, 2012
    Eve
  • TimesPeople recommended a user:
    Feb 27, 2012
    Swansong66
  • TimesPeople recommended a user:
    Feb 27, 2012
    Janice Badger Nelson RN
    • Janice Badger Nelson RN commented on a blog post:
      Mar 14, 2011
      Forget the Treadmill. Get a Dog.
      Here is a link to a very interesting and just plain fun to read blog about a man from NH and his dog, Atticus, who climb a lot of mountains in NH. I have been reading his column for years in a small newspaper in NH when we go there to our mountain home. He is now also writing a book called, 'Following Atticus.' It is all about his adventures in the White Mountains of NH with his dog (due out in September---getting a lot of buzz). Here is a link to his blog. (I don't personally know him or Atticus, I just like his writing) http://tomandatticus.blogspot.com/ I find the blog so comforting. And he is getting very good exercise and great companionship...both sorely needed in our hectic, many times isolated lives. A dog brings you outside of yourself, and also into yourself, all at the same time. Plus, they get you to get outside, which is a great gift. We are now going to start hiking more.....with our dogs, in the mountains. He has inspired us. Well, actually his dog has. 
      I read the essay with pleasure and saved the website.
  • TimesPeople recommended a user:
    Feb 27, 2012
    Susan L.
    • Henry recommended a blog post:
      Mar 7, 2011
      Does IMF Stand for Impressive Macroeconomic Flexibility?
      So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.

      Waiting for the other shoe to fall.
  • TimesPeople recommended a user:
    Feb 27, 2012
    Stu Freeman
    • Stu Freeman commented on a blog post:
      Jul 23, 2010
      A Dog’s Life: Long
      I believe that's the same mutt that bit me 24 years ago!
      I was not aware of this toy poodle.  
      I know you come with attachments.




If Brooklyn is home living there is not that bad.

































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