Thursday, July 07, 2011
And The Real Perps Go Free
I think the often forgotten point about wrongly convicted people, whether on death row or not, is that if you locked up the wrong person it means that the actual criminal went free. For some reason those circumstances don't inspire the same outrage in Nancy Grace.
Theater
No I don't know precisely how the play ends, but here in Act II various players are stamping their feet and making demands, followed by the ultimate capitulation for the 'good of the country.'
Manufactured crises are fun.
Manufactured crises are fun.
The Pain In Spain (And Elsewhere)
I don't know about every Euro-zone country, but at least in many of them the ECB interest rate hike won't just hurt their economies because it will increase the cost of borrowing going forward, it'll also hit most people with mortgages immediately as they're mostly adjustable rate mortgages. Also, too, underwater in Spain and Ireland.
Time For Everyone To Live Paycheck To Paycheck For Awhile
And then have their paycheck taken away.
No voters don't care about monthly GDP and jobs reports, but they do care that they don't have a job, that they don't have any money, and that they've been chucked out of their homes by corrupt banks.
Lunatics.
No voters don't care about monthly GDP and jobs reports, but they do care that they don't have a job, that they don't have any money, and that they've been chucked out of their homes by corrupt banks.
Lunatics.
Deep Thought
Apparently there are professionals working in politics who think tax increases and Social Security cuts are popular.
also, too, jobs don't matter.
also, too, jobs don't matter.
Thursday Is New Jobless Day
418K new lucky duckies.
Still not good news. Monthly jobs report comes out tomorrow.
Still not good news. Monthly jobs report comes out tomorrow.
Elite Fail
Obama wants to cut Social Security, the ECB just raised interest rates...
We are ruled by horrible people.
We are ruled by horrible people.
Wednesday, July 06, 2011
On Algae Fuel
I saw this today at TPM and got a little bit of that SIWOTI syndrome.
I'm basically an algae fuel skeptic, primarily as a result of knowing and speaking to people involved in algae fuel research and development. There are plenty of different approaches people are trying to extract fuels from algae, but broadly speaking some companies try to use photosynthesis of the algae to create fuel, while others use feed stocks like sugar to grow the algae in tanks. On the back end, some companies try to extract extract the lipids while others try to ferment the biomass. There are significant drawbacks to all such approaches, and they are only economic in so far as the value of the liquid fuel is at a large premium to the actual energy content thereof. Furthermore, the scale of co-product markets is simply not commensurate with the scale of co-products to be generated were algae based fuels to be produced at real scale, and so one shouldn't expect to get much value from selling them.
Whether photosynthetic or chemosynthetic, algae (or any biological system) is very inefficient converter of sunlight into energy: on the order of 0.1% to 1% efficient. By comparison, even cheap Chinese multi-crystalline solar panels are already 12%-15% efficient (of course, electricity is not equivalent to fuel). Chemosynthetic algae feed from grown feedstocks just passes the buck upstream with additional losses (and way more water consumption). My own personal hope for a renewable fuels to supply our liquid fuel infrastructure would be either thermochemical reactors or photochemical processes, as are being explored at the new DOE energy hub the Joint Center for Artificial Photosynthesis.
So yeah, as long as the Navy or some large airline wants to be particularly "green," they'll be willing to spend the money for some algae fuels. But I think the odds are very long that you'll ever fill up your sedan with the stuff.
I'm basically an algae fuel skeptic, primarily as a result of knowing and speaking to people involved in algae fuel research and development. There are plenty of different approaches people are trying to extract fuels from algae, but broadly speaking some companies try to use photosynthesis of the algae to create fuel, while others use feed stocks like sugar to grow the algae in tanks. On the back end, some companies try to extract extract the lipids while others try to ferment the biomass. There are significant drawbacks to all such approaches, and they are only economic in so far as the value of the liquid fuel is at a large premium to the actual energy content thereof. Furthermore, the scale of co-product markets is simply not commensurate with the scale of co-products to be generated were algae based fuels to be produced at real scale, and so one shouldn't expect to get much value from selling them.
Whether photosynthetic or chemosynthetic, algae (or any biological system) is very inefficient converter of sunlight into energy: on the order of 0.1% to 1% efficient. By comparison, even cheap Chinese multi-crystalline solar panels are already 12%-15% efficient (of course, electricity is not equivalent to fuel). Chemosynthetic algae feed from grown feedstocks just passes the buck upstream with additional losses (and way more water consumption). My own personal hope for a renewable fuels to supply our liquid fuel infrastructure would be either thermochemical reactors or photochemical processes, as are being explored at the new DOE energy hub the Joint Center for Artificial Photosynthesis.
So yeah, as long as the Navy or some large airline wants to be particularly "green," they'll be willing to spend the money for some algae fuels. But I think the odds are very long that you'll ever fill up your sedan with the stuff.
FOUR MONTHS LATER
A couple of things of note from the town hall. First, Obama came a bit closer than I'd heard to admitting that they'd screwed the pooch on foreclosures/housing, though it was more of a "harder than we thought" kind of statement rather than a "the predatory lending program known as HAMP was evil and awful" kind of statement.
Second was stating that they didn't realize how bad the economy was until about four months into the administration. Fair enough on that, but the mistake he cited was failing to tell us that things would continue to suck for quite some time. The right response should have been "more stimulus" given that they should have realized the original stimulus was inadequate. Also it's hard to square the 'we should have told people things would be bad for a long time' notion with the January '10 deficit pivot or the July/August '10 Recovery Summer.
Second was stating that they didn't realize how bad the economy was until about four months into the administration. Fair enough on that, but the mistake he cited was failing to tell us that things would continue to suck for quite some time. The right response should have been "more stimulus" given that they should have realized the original stimulus was inadequate. Also it's hard to square the 'we should have told people things would be bad for a long time' notion with the January '10 deficit pivot or the July/August '10 Recovery Summer.
Wrong, And Also Bad Politics
No the problem isn't a sudden massive increase in structural unemployment. Also, too, "No We Can't" is not a winning message.
Bad Policy
I get why there might be an aversion to handing over parking spaces to for-profit companies, but still it makes a lot of sense from a variety of perspectives to let car sharing companies to have them for free or cheap. One parking space will serve dozens of people, not just one, and some of these people would, absent carsharing, own cars and take up even more of that precious on street parking.
Anything that helps reduce the number of cars in an urban area in a non-punitive fashion should be embraced.
Anything that helps reduce the number of cars in an urban area in a non-punitive fashion should be embraced.
I'm So Old I Can Remember When The Highway Lobby Had Some Clout
And the madness continues.
Obviously highways aren't my favorite thing, but even I don't think most of them should be left to fall apart. More than that, the inevitable delayed maintenance caused by these types of cuts causes the necessary repair costs to balloon.
The next flash point in the debate over the nation’s will to live within its means may emerge this week as House Republicans present a long-term transportation bill expected to cut funding for highways and mass transit by almost one third.
Obviously highways aren't my favorite thing, but even I don't think most of them should be left to fall apart. More than that, the inevitable delayed maintenance caused by these types of cuts causes the necessary repair costs to balloon.
Criminal Enterprise
It's good that the farcical 'lone wolf' or 'couple bad apples' angle for the Murdoch phone hacking story has finally been busted.
It sounds like for years it was standard practice to just hack into phones any time there was a story.
Awesome.
It sounds like for years it was standard practice to just hack into phones any time there was a story.
Awesome.
Tuesday, July 05, 2011
Good People
The world's finest.
The phone-hacking crisis enveloping the News of the World intensified on Tuesday night after it emerged that Scotland Yard has started to contact the relatives of victims of the 7 July 2005 attacks to warn them they were targeted by the paper.
The revelation that bereaved family members may have had their mobile phone messages intercepted by Glenn Mulcaire, a private investigator employed by the paper, in the days following the 2005 London bombings will heap further pressure on the title's owner, News International, part of Rupert Murdoch's media empire.
Graham Foulkes, whose son David was killed in the attack at Edgware Road tube station, confirmed that he had been contacted by officers from Operation Weeting, the Met's investigation into phone hacking. He said they had told him his mobile phone number, ex-directory landline number and address had been found in records made by Mulcaire that were recovered from the investigator's office in south London.
Elite Fail
Unemployment is at 9.1% and everybody in Washington is desperately trying to figure out how to increase taxes and cut spending. Maybe it's opposite year and somebody forgot to tell me.
And, yes, in normal times there are tax increases I'd get behind and I'm sure reasonable spending cuts exist (though whether they're being considered is another question), but the point is that the fact that we're having this conversation at all is insane. Jobs bill jobs bill jobs bill jobs bill jobs bill....
And, yes, in normal times there are tax increases I'd get behind and I'm sure reasonable spending cuts exist (though whether they're being considered is another question), but the point is that the fact that we're having this conversation at all is insane. Jobs bill jobs bill jobs bill jobs bill jobs bill....
No We Can't
Not a new observation, but I do continue to be amazed that in the greatest fucking country in the history of the universe our elite classes have basically decided that things suck and there's nothing to be done.
Just Opening Up New Possibilities
One advantage of supporting a lot of atrocious dictators is that eventually you can get mad at how atrocious they are and start a shiny new war.
It's all good. Also, too, freedom.
It's all good. Also, too, freedom.
Oldheads Rule
I've long been cautiously optimistic - if frequently worried - that Social Security and Medicare won't be destroyed based on the simple fact that old people vote and there are more and more of them. Social Security privatization was more about theft than destruction. Still I've long been a bit curious why no scrappy wannabe House members - Republican OR Democrat - haven't been campaigning on increasing the benefits...
News of the Day
Apparently a person the entire country thought was guilty of something was just acquitted.
What Exactly Is The Error?
This kind of thing is just weird. Was the error that Breitbart lied or was the error that the reporter misrepresented what was said? Apparently, it doesn't make any difference. Bygones.
Help
One professed belief from people in the White House is that doing more to help underwater homeowners was difficult because it was politically toxic. I don't know if this was ever true, but it isn't true now.
Inconceivable
I can't verify this anecdote, and I'm also presenting it from my fuzzy memory, but years ago a reader wrote in and said that he bumped into Tom Friedman. He'd had a couple of drinks and first asked if he was Paul Krugman. Then, realizing it was Friedman he asked him about his "suck on this" comment. Friedman replied, "That doesn't sound like something I would say." Well there you go.
I was reminded of that when I read about the ongoing unfolding phone hacking case in the UK.
It might be difficult or impossible conceive of, but that isn't actually a denial.
I was reminded of that when I read about the ongoing unfolding phone hacking case in the UK.
It is almost too horrific to believe that a professional journalist or even a freelance inquiry agent working on behalf of a member of the News of the World staff could behave in this way.
If the allegations are proved to be true then I can promise the strongest possible action will be taken as this company will not tolerate such disgraceful behaviour.
I hope that you all realise it is inconceivable that I knew or worse, sanctioned these appalling allegations.
It might be difficult or impossible conceive of, but that isn't actually a denial.
The Horrible Plight Of The Not Quite Rich Enough
I'm not going to bother with any of the specifics, but I'll just point out that the sociopathic monsters who write for Pete Peterson's propaganda outlet are unable to make the tiny leap from "life is actually not that easy if you earn $250,000 per year" to "life must be really fucking hard if you only earn $40K per year." Also, too, maybe we shouldn't slash Social Security benefits for old poor people.
(ht mededitor)
(ht mededitor)
Stagnant
It's always amusing, though admittedly slightly puzzling, how the Times and other outlets treat "countries our Galtian Overlords don't like." Their economies always suck, and none of their crack reporters are capable of going to the Google to determine otherwise.
"A Very Strong Political Message"
I don't think that's really the point, but...
4 years later and the banksters are still blowing up the world.
European lawmakers called for restrictions on traders’ use of credit default swaps to profit from defaults on sovereign debt they don’t own.
The European Union Parliament also voted in Strasbourg, France, in favor of a ban on short selling of government bonds in the EU unless traders have at least “located and reserved” in advance the securities they intend to sell.
“Today we are sending a very strong political message,” Pascal Canfin, a French lawmaker who is responsible for securing the adoption of the measures by the Parliament, said after the vote. Negotiations on the measures with governments in the 27- nation region will continue next week, he said.
4 years later and the banksters are still blowing up the world.
Monday, July 04, 2011
Afternoon Thread
Maybe Michele Bachmann should tune into TCM and watch 1776 this afternoon. She might learn a thing or two.
Cascade
So it seems our Galtian Overlord handed the power to destroy the world over to any large debtor.
The issue, presumably, is that calling something a default will trigger various insurance contracts written on that debt and then bring everyone down...
PARIS — Greece risks being judged in default on its debt obligations if banks are forced to bear part of the pain, Standard & Poor’s said Monday, suggesting that current proposals for rescuing the euro zone’s weakest member may have to be reconsidered.
In particular, a plan proposed by the French government and banks “could require private sector debt restructuring in a form that we would view as an effective default,” S.&P. said in a statement.
The issue, presumably, is that calling something a default will trigger various insurance contracts written on that debt and then bring everyone down...
Sunday, July 03, 2011
Bipartisanship
NJ Senate President Stephen Sweeney had a bad week. He's not happy with Governor Christie.
(h/t Yves Smith)
"This is all about him being a bully and a punk," he said in an interview Friday. "I wanted to punch him in his head."
[snip]
"You know who he reminds me of?" Sweeney says. "Mr. Potter from ‘It’s a Wonderful Life,’ the mean old bastard who screws everybody."
"Last night I couldn’t calm down," Sweeney said. "To prove a point to me — a guy who has stood side by side with him, and made tough decisions — for him to punish people to prove his political point? He’s just a rotten bastard to do what he did."
(h/t Yves Smith)
Chaff
Shit they say isn't actually, you know, argument. Or reasoning. Or evidence.
It's just shit they say, after they say "feed the rich."
It's just shit they say, after they say "feed the rich."
So Which Republican Should We Do A Glowing Profile On This Week
There really is one every single week in the Times.
Jobs
Monthly jobs report comes out on Friday. I've been reading various news reports about the administration on the economy, somewhat related to Geithner's potential resgination at some point, and so much of it is about personalities and little about policy.
It's July 2011...
It's July 2011...
Sunday Bobbleheads
Meet the Press has Wimbledon.
Face the Nation has Kasich, Deval Patrick, Scott Walker, and Villaraigosa.
This Week has a "Constitution Panel" and an "Immigration Panel." It's probably as horrible as it sounds.
Document the atrocities!
Face the Nation has Kasich, Deval Patrick, Scott Walker, and Villaraigosa.
This Week has a "Constitution Panel" and an "Immigration Panel." It's probably as horrible as it sounds.
Document the atrocities!
Saturday, July 02, 2011
Billion, Trillion, What's The Difference
Don't know if this is the reporter's mistake or Schumer's.
“We need a willingness on both sides to give a little,” said Senator Charles E. Schumer of New York. “We’ve given a lot. The vice president has said more than $1 billion in cuts has already been identified. And that would put us far down the road towards an agreement. The question is how to make up the rest.”
Waste
Some waste is worse than others - and unoccupied housing can deteriorate pretty quickly - but, yes, in the context of the stimulus it was something people worried about way too much. A SUPERTRAIN with poorer than expected ridership* might cause you to rethink where you build the next one, but it's still a useful thing to have and at some point population growth will increase the ridership.
*But, yes, we've built plenty of highways to nowhere...
*But, yes, we've built plenty of highways to nowhere...
Incoherence
It's really hard to characterize just how weirdly and insanely the War on Terror has been conducted. On the one hand, pornoscanners and special shampoo transport requirements, on the other, gun shows.
So Now I Know
Got vaguely nostalgic for a certain era Superchunk and at the same time wondered, who dicks around on Twitter more pointlessly than anyone else on the planet?
Friday, July 01, 2011
Kangaroo Is Pretty Tasty
Don't know if it still is, but was pretty commonly available in restaurants in Europe in the aftermath of the Mad Cow scare. A nearby butcher sells it. So, yes, eat Kangaroo!
Burn The Whole Thing Down
I have no idea what will happen with the debt ceiling issue, but I do know that even aside from the crass 'kill the economy to blame obama' gambit, there are lots of people who have an attraction to the idea of just burning the place down for the hell of it.
We will see.
We will see.
Pretend
The NYT is the paper that shows up on my doorstep every morning, so it is my gauge of the traditional media. Apparently, when talking about European banksters, they can do more truth-telling.
Floyd Norris on extend and pretend, with feta.
As negotiations proceeded in Europe this spring over Greek Bailout II, Mr. Trichet laid down a line in the sand: Nothing must be done to force banks to take losses on the bad loans they have made to Greece.
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