Daily Digest

Daily Digest 11/19 - Citizen Consumer, William K. Black Occupies L.A., Govt's Vital Role In Energy Innovation

Saturday, November 19, 2011, 10:46 AM
  • The Final Straw? Jefferies And Six Other Banks Sued For "Fraudulent" MF Global Bond Issuance
  • On Capital Flight and Forced Repatriation
  • Citizen Consumer
  • Occupy LA Teach-In: William K. Black
  • Occupy roundup: Arrests, marches mark 2 months of movement
  • France Needs To Upgrade All Nuclear Reactors
  • Government's Vital Role in Energy Innovation
  • CIDRAP: A "Really, Really Stupid" H5N1 Experiment

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Economy

The Final Straw? Jefferies And Six Other Banks Sued For "Fraudulent" MF Global Bond Issuance (June C.)

Pick the odd one out of the following 7 banks, while in the process pointing out what they have in common: Bank of America Corp, Citigroup Inc, Deutsche Bank AG, Goldman Sachs Group Inc, Jefferies Group Inc, JPMorgan Chase & Co and Royal Bank of Scotland Group Plc. As it so happens 6 of the 7 are Bank Holding Companies, and have access to the Fed's various emergency facilities. The seventh, Jefferies, which a few years ago, boasted that it is now the largest remaining true investment bank after all its competitors had converted to BHC status, may soon regret it said that and did not join its peers. Why?

On Capital Flight and Forced Repatriation (June C.)

Capital flight is a perfectly logical consequence in today’s world. Barely a day passes where we are not reminded that nothing is safe any more. Not our currencies, not our equities, not our bonds and certainly not our banks/brokers.

In Greece there are many example where capital flight is undermining stability. The most obvious is the capital flight from the Greek banks that has taken place over the past few years. This flow of money is also perfectly logical. There are many risks of leaving money in a Greek bank:

Occupy LA Teach-In: William K. Black (June C.)

Citizen Consumer (jdargis)

In the past, scandals such as these would probably not have reached the public’s attention. Few outside of the byzantine world of global supply chains had ever even heard of Foxconn, despite its position as the world’s largest manufacturer of electronics. But today a global network of labor and environmental activists helps to bring such stories to the mainstream. And as consumers become aware of labor and environmental issues, they seem to care more.

Occupy roundup: Arrests, marches mark 2 months of movement (jdargis)

Protesters in New York launched what they called an effort to "shut down Wall Street" Thursday morning at the beginning of a nationwide day of what could be the Occupy movement's largest protests yet. A heavy police presence was in place as protesters kicked off the effort with the early morning demonstration against Wall Street.

At least 245 people were arrested over the course of Thursday, police spokesmen said. That includes 64 arrested -- most all wearing "99%" T-shirts -- during a sit-in early in the evening on Centre Street, near Foley Square.

Energy

France Needs To Upgrade All Nuclear Reactors (guardia)

France needs to upgrade the protection of vital functions in all its nuclear reactors to avoid a disaster in the event of a natural calamity, the head of its nuclear safety agency said, adding there was no need to close any plants.

Government's Vital Role in Energy Innovation (James S.)

Take synfuels. After the oil shocks of the 1970s, the US government created the synthetic fuels program. The program worked to produce fuel competitive with oil at $60 a barrel -- the program's objective. But when the price of oil dropped to $10 a barrel in the early 1980s, Congress sensibly abandoned the program. The total amount spent by Congress on SynFuels ended up being just $2 billion -- cheap insurance against future oil embargoes and price shocks, which had sent the United States into a costly recession.

CIDRAP: A "Really, Really Stupid" H5N1 Experiment (VeganD)

Referring to the Office of Biotechnology Activities in the National Institutes of Health's Office of Science Policy, Keim told CIDRAP News, "We have now been directed by OBA staff that we can acknowledge that a review process on the H5N1 transmissibility in mammals is under way. We are not allowed to provide additional details."

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10 Comments

rhare's picture
rhare
Status: Diamond Member (Offline)
Joined: Mar 30 2009
Posts: 1323
More statist propaganda...

 

Governmnt's Vital Role In Energy Innovation

Just another statist who puts out a false narrative that assumes these type of developments would not occur without government intervention.  It's also an assumption that government made the correct choice while ignoring all the carcasses of those less fortunate technologies that did not fit into the government plan.  I also notice the article doesn't mention the whole ethanol fiasco....

Necessity is the mother of invention - not government! 

rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
heffe's picture
heffe
Status: Bronze Member (Offline)
Joined: Dec 26 2009
Posts: 95
rhare you're a rare one
rhare wrote:

 

Governmnt's Vital Role In Energy Innovation

Just another statist who puts out a false narrative that assumes these type of developments would not occur without government intervention.  It's also an assumption that government made the correct choice while ignoring all the carcasses of those less fortunate technologies that did not fit into the government plan.  I also notice the article doesn't mention the whole ethanol fiasco....

Necessity is the mother of invention - not government! 

 

I love it!  Its almost like a circus, I mean society, the people in it, and their dispositions, it feels good to have realized my conditioning and having 'broke down the wall' as Pink Floyd would say. 

rhare, your comments follow a continous pattern of several cogntive approaches to evaluating information. I only want to help, here are some terms to consider.

1) Confirmation Bias - Only see what supports your argument, and everything else that may oppose your 'confirmed beliefs' is seen as misportrayed, irrelevant, faulty, or down right ignored.

2) Chunking Bias - Humans have a limited ability for processing information, thus rely on several cognitive strategies to identify, categorize, retrieve, and produce (assumed to be) logical associations. One strategy is known as 'chunking', which is oversimplification/overgeneralization; basically there is so much information in every little detail that its hard to consider every factor. In order to be truthful, every aspect involved needs to be considered.

3) Identity Complex - When an individual has confirmed a belief within their cognitive associations, and has maintained that belief over long periods of time, it becomes 'attached' to identity.  Thus, if one were to admit that they were wrong, it would counter all that their identity has stood for. The best route is remaining open to conclusions, and letting evidence, research, and objective evaluation let you arrive to decisions, rather than make them. "Being shown to be wrong should never be feared, it should be celebrated, as it elevates understanding" Peter Joseph

No beef intended, only providing something to think about.  Take care bro!

Mirv's picture
Mirv
Status: Silver Member (Offline)
Joined: Sep 30 2008
Posts: 105
More Statis Propaganda

Thank you rhare.  Well stated. 

Nate's picture
Nate
Status: Platinum Member (Offline)
Joined: May 5 2009
Posts: 573
rhare wrote:   Governmnt's
rhare wrote:

 

Governmnt's Vital Role In Energy Innovation

Just another statist who puts out a false narrative that assumes these type of developments would not occur without government intervention.  It's also an assumption that government made the correct choice while ignoring all the carcasses of those less fortunate technologies that did not fit into the government plan.  I also notice the article doesn't mention the whole ethanol fiasco....

Necessity is the mother of invention - not government! 

Spot on.  I work with a bunch of scientists that started their careers working on coal gasification and oil shale.  Very smart individuals that burn through lots of taxpayer $'s with virtually no payback.  If you spend any time talking with them, they are legends in their own minds.

Our local (private) electric company funded a dam, turbines, and an irrigation system without any government aid.  Correction - government got out of the way.

Nate

 

MarkM's picture
MarkM
Status: Platinum Member (Offline)
Joined: Jul 22 2008
Posts: 837
rjs wrote: VIDEO: Oakland

Now that makes me proud. At least I know I am free.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Next Years agenda.

Cold fusion 101 is being offered to MIT students next year.

A petition is being raised to bring lawmakers up to speed on developments. For your kind consideration.

This is an energy site. We might as well do something.

Credit to Ruby Carat at CFN

green_achers's picture
green_achers
Status: Silver Member (Offline)
Joined: Jan 3 2009
Posts: 205
Thanks, rhare!  I probably

Thanks, rhare!  I probably wouldn't have even looked at that article if you hadn't pointed it out.  I figured if you were calling it bad names, it might have something of interest to offer.  I was not disappointed.  Lots of specific, well-argued examples.  Of course, you didn't address any of them, but I'm happy with the ol' all-purpose epithet, "statist."  Also, the paper tiger argument works so well.  Accusing the writer of making an assumption they didn't make while at the same time deftly avoiding making the reverse argument is really brilliant and so persuasive.  Anyway, it seems to have garnered you a couple of fans, so that must feel gratifying.

RNcarl's picture
RNcarl
Status: Gold Member (Offline)
Joined: May 13 2008
Posts: 382
Disgusted

Well,

I am totally disgusted. One guy against how many hooded, armored, armed - goons?

I know he was making a point and knew that he was going to get a proper beat down.

One thing I liked was that when the first goon that struck the guy's leg, it did not take him to the ground... to me, that spoke volumes. I would have been on the ground wrything in pain, 'er well, I wouldnt have had the stones to have faced them down, knowing the beating that would be coming. The only mistake the guy made was letting himself be turned back toward the police line.

I am shocked and appalled.

I think the thing that really pissed the goons off was that the guy was not intiminated by their "show of force."

I also cannot believe that there are so many "police officers" that really think that what they are doing is right.

rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
green_achers wrote: Thanks, rhare!
green_achers wrote:

Thanks, rhare!  I probably wouldn't have even looked at that article if you hadn't pointed it out.  I figured if you were calling it bad names, it might have something of interest to offer.  I was not disappointed.  Lots of specific, well-argued examples.  Of course, you didn't address any of them, but I'm happy with the ol' all-purpose epithet, "statist."  Also, the paper tiger argument works so well.  Accusing the writer of making an assumption they didn't make while at the same time deftly avoiding making the reverse argument is really brilliant and so persuasive.  Anyway, it seems to have garnered you a couple of fans, so that must feel gratifying.

i saw an article today on an aussie macroblog that made me think of rhare; see if you think this fits:

Market states - macrobusiness.com.au

Binary thinking is always easy. It is also a trap, perhaps the most common. A moment’s reflection should tell us that human affairs cannot be analysed as simple antonyms: government versus markets, socialism versus laissez faire, monetarism versus Keynesianism. But the habit is hard to shake, perhaps because we inevitably tend to see things in terms of good and evil, even when it is not a moral subject.

 

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