Slog
News & ArtsWednesday, December 12, 2012
News The Morning News
Posted by Eli Sanders on Wed, Dec 12, 2012 at 6:00 AM
Ravi Shankar: Dead at 92.
North Korea: Launches a rocket that appears to reach the Philippines.
The Syrian opposition: Formally recognized by the U.S.
Shooting in Happy Valley: Three are now dead, among them the gunman, after yesterday's shooting at Oregon's Clackamas Town Center. (More here, including a media response flowchart.)
Major transportation package: Coming next week, from Gregoire.
Republicans are going to cave on the fiscal cliff standoff: Says Obama.
Punched in the face: A FOX News contributor covering pro-labor demonstrations in Michigan.
Could airplane rows get any closer together? The answer is yes.
The world is not ending: The Vatican promises.
The Mazama pocket gopher: In need of federal protection, experts say. (Also: cute!)
And a short history of the GIF:
1
Hooray! Freed from the need to face re-election, the Obama Administration begins it's hard turn to the left, as predicted by a million wingnuts! Wall Street trembles at the coming of the New Socialism!
http://www.nakedcapitalism.com/2012/12/i…
Oh, wait...
http://www.nakedcapitalism.com/2012/12/i…
Oh, wait...
2
Why did the Vatican have to come out and say the world isn't ending? It's not like a bunch of dead Mayans thought the world was going to end, or would be right if they did, but if the Vatican thinks it won't then it almost certainly will. Bastards.
4
The only deal the republicans are offering is actually worse than the fiscal cliff, because it offers even deeper cuts to social services, no revenue, and no cuts to defense. They also have the gall to accuse Obama of not attempting to negotiate. They should be tarred and feathered for putting their party and donors above their country. It is basically treason.
The good news is, it means they essentially have to compromise, or they will be the party that caused us to go over the cliff. It is a win/win as opposed to the "deal" the GOP is offering.
The republicans have to take the deal, or they will shoot themselves in the foot twice over this issue.
But I guess brains were never their strong suit...
The good news is, it means they essentially have to compromise, or they will be the party that caused us to go over the cliff. It is a win/win as opposed to the "deal" the GOP is offering.
The republicans have to take the deal, or they will shoot themselves in the foot twice over this issue.
But I guess brains were never their strong suit...
5
Fuck the fiscal cliff! Go "off" it, and fix the worst details in the new Congress. Or not, if deficit reduction is SO important (which, as usual, is only "true" during Democratic presidencies).
No gutting Social Security! It's all most people will have for old age, after neo-liberal shitheads have been allowed to loot the economy continuously for 30 years.
http://www.ritholtz.com/blog/2012/12/fis…
No gutting Social Security! It's all most people will have for old age, after neo-liberal shitheads have been allowed to loot the economy continuously for 30 years.
http://www.ritholtz.com/blog/2012/12/fis…
6
Mazama Pocket Gophers are pretty cute. But the Cutest Small Rodent to Live in the Northwest goes to the Pika! Google it, they have a bouquet of flowers waiting just for you!
7
Eh. Who cares if the world ends? I've got anti-aircraft guns and RPGs. Bring it on, motherfuckers.
8
@6 Pikas are lagomorphs, not rodents. "The evolutionary history of the lagomorphs is still not well understood."--Wikipedia. I agree pikas are adorable. When I go hiking, it's usualy with the primary goal of seeing a pika.
Among actual rodents, I nominate the Douglas squirrel as the cutest sciurid, and the Dusky-Footed Woodrat as the cutest murid.
Among actual rodents, I nominate the Douglas squirrel as the cutest sciurid, and the Dusky-Footed Woodrat as the cutest murid.
12
@1, I don't know about quoting Naked Capitalism anymore, Yves Smith practises some truly ungodly amount of censorship there.
And speaking of ungodly censorship, recently boy bitchez of FoxFiction, and talking twats at CNN, have both come out recently with incredibly bald-faced lies, propaganda of the worst sort --- both claiming that the Social Security Fund is the cause of the national debt and deficit --- when the exact opposite is the realty:
The gov't has borrowed continuously to pay off interest on the nat'l debt from the SS Fund, which makes it a major purchase of US Treasuries, etc. (Not to mention the obvious fact that it is illegal for the fund to borrow!)
And speaking of ungodly censorship, recently boy bitchez of FoxFiction, and talking twats at CNN, have both come out recently with incredibly bald-faced lies, propaganda of the worst sort --- both claiming that the Social Security Fund is the cause of the national debt and deficit --- when the exact opposite is the realty:
The gov't has borrowed continuously to pay off interest on the nat'l debt from the SS Fund, which makes it a major purchase of US Treasuries, etc. (Not to mention the obvious fact that it is illegal for the fund to borrow!)
13
Also, in the spirit of Agnes Meyer (whom, I believe, was the mother of WaPo publisher, Katharine Graham), who once urged the hanging of banksters --- all FoxFiction wannabe-stenographers should be at least punched, although tarred & feathering, then fed to mad pigs, might be a better method --- likewise slitting the tires of any and all Fox vehicles when observed in a parked condition.
14
you missed the news that Komrade Boehner admitted he only cares about permanent tax cuts for the rich.
On paper.
Please return to your Mayan Countdown.
On paper.
Please return to your Mayan Countdown.
15
@Eli, ..
Don't make fun of the North Korean missile capability: it was back in the late 1990s, that they recovered pieces of one of their missile tests on the shore of Alaska.
Don't make fun of the North Korean missile capability: it was back in the late 1990s, that they recovered pieces of one of their missile tests on the shore of Alaska.
16
The Breakdown, Bitchez ! ! !
In the OCC report (Office of the Comptroller of the Currency), ending 2011, it stated that 97% of bank credit derivatives were Credit Default Swaps, and 40% of that number were in the speculative category (i.e., naked swaps or uncovered swaps). While we must take these numbers, as horrendous as they sound, on faith (much the same way we take on faith that talking snake in the Garden of Eden, Santa Claus and the Easter Bunny), it is important to recall that the naked swap was the primary tool of economic destruction (and enrichment for the super-rich) which was wielded by hedge fund dudes, private equity LBO dudes, and various and assorted bankster types, to crash the economy back in 2007-2008 --- which will take decades to deleverage, or set aright.
Just as John Paulson, his hedge fund, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Magnetar Capital, and so many others, used those swaps to enrich themselves while destroying companies and jobs and many people’s equity and savings, so too do those weapons still exist.
The breakdown: 97% of credit derivatives are controlled by the top five banks, while 100% are controlled by the top 25 banks.
And that is why financial types keep claiming that the next crash will be worse than the last……
http://www.occ.gov/topics/capital-market…
[p. 10, CDS = 97% of bank credit derivatives at end of 2011]
[p. 11: The five banks with the most derivatives activity hold 95% of all derivatives, while the largest 25 banks account for nearly 100% of all contracts.]
In the OCC report (Office of the Comptroller of the Currency), ending 2011, it stated that 97% of bank credit derivatives were Credit Default Swaps, and 40% of that number were in the speculative category (i.e., naked swaps or uncovered swaps). While we must take these numbers, as horrendous as they sound, on faith (much the same way we take on faith that talking snake in the Garden of Eden, Santa Claus and the Easter Bunny), it is important to recall that the naked swap was the primary tool of economic destruction (and enrichment for the super-rich) which was wielded by hedge fund dudes, private equity LBO dudes, and various and assorted bankster types, to crash the economy back in 2007-2008 --- which will take decades to deleverage, or set aright.
Just as John Paulson, his hedge fund, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Magnetar Capital, and so many others, used those swaps to enrich themselves while destroying companies and jobs and many people’s equity and savings, so too do those weapons still exist.
The breakdown: 97% of credit derivatives are controlled by the top five banks, while 100% are controlled by the top 25 banks.
And that is why financial types keep claiming that the next crash will be worse than the last……
http://www.occ.gov/topics/capital-market…
[p. 10, CDS = 97% of bank credit derivatives at end of 2011]
[p. 11: The five banks with the most derivatives activity hold 95% of all derivatives, while the largest 25 banks account for nearly 100% of all contracts.]
17
Great, we've "recognized" the latest nascent Islamic fundamentalist state. Egypt, Syria, who's next?
18
@17 Better to be friends and have influence than have enemies and no influence. We can't afford anymore wars.
19
@18, eeexcept that the new Egypt has recently made pointed moves away from the US, diplomatically. Mubarak was "our" "friend", Morsi not so much. Much to the chagrin of the State Dept.
@17, Iran, if we can have anything to say about the matter.
@17, Iran, if we can have anything to say about the matter.
20
@19 I thought we had our say on that subject in Iran about 1952.
Or are you referring to "recognized," not "nascent?"
@ 12 Butthurt, much? You have at least a whiff of The Crazy. Deal with that as you will.
Or are you referring to "recognized," not "nascent?"
@ 12 Butthurt, much? You have at least a whiff of The Crazy. Deal with that as you will.
21
OK, that seals the deal with me. No more flying for this kid unless I can upgrade to business or first (which ain't going to happen because I don't fly enough to merit the sky miles and I can't afford a $10K ticket).
The last time I went to Europe on BA, the gentleman in front of me (who admittedly was way smaller than I am), decided to take a nap and put his seat back (caught me at an off moment - I usually have my knees right up against the back of the seat so this doesn't happen). He literally was in my lap. His head was inches below mine. It was a nine-hour flight. So, now they're moving the rows closer?
I'm out.
The last time I went to Europe on BA, the gentleman in front of me (who admittedly was way smaller than I am), decided to take a nap and put his seat back (caught me at an off moment - I usually have my knees right up against the back of the seat so this doesn't happen). He literally was in my lap. His head was inches below mine. It was a nine-hour flight. So, now they're moving the rows closer?
I'm out.
22
YO!!
MACKLEMORE AND RYAN LEWIS PERFORMED ON JIMMY FALLON LAST NIGHT!!
BACKED UP BY THA MUTHA EFFIN ROOTS!
That's a cold ass honkey!
That was a fucking badass performance!
BUT... please guys: lose the fur. I get it, you're promoting thrift store chic and consumer awareness over obedience to corporate marketing -- and that is awesome. Your furs are probably second hand, which is certainly not as bad as paying the fur industry to perpetuate animal cruelty.
But making this "cool"? Not cool:
Still! It's great to see local heroes make it big!
MACKLEMORE AND RYAN LEWIS PERFORMED ON JIMMY FALLON LAST NIGHT!!
BACKED UP BY THA MUTHA EFFIN ROOTS!
That's a cold ass honkey!
That was a fucking badass performance!
BUT... please guys: lose the fur. I get it, you're promoting thrift store chic and consumer awareness over obedience to corporate marketing -- and that is awesome. Your furs are probably second hand, which is certainly not as bad as paying the fur industry to perpetuate animal cruelty.
But making this "cool"? Not cool:
Whether it came from an animal on a fur farm or one who was trapped in the wild, every fur coat, trinket, and bit of trim caused an animal tremendous suffering—and took away a life.
Animals on fur farms spend their entire lives confined to cramped, filthy wire cages. Fur farmers use the cheapest and cruelest killing methods available, including suffocation, electrocution, gas, and poison.
More than half the fur in the U.S. comes from China, where millions of dogs and cats are bludgeoned, hanged, bled to death, and often skinned alive for their fur. Chinese fur is often deliberately mislabeled, so if you wear any fur, there's no way of knowing for sure whose skin you're in.
Still! It's great to see local heroes make it big!
26
@24: Probably not, but it was widely reported - like on 60 Minutes, etc. - when she hit it big with Don't Know Why, and it was commonly known in NYC jazz circles where Norah was making herself known as the next new big thing in the late 90s.
Don't beat yourself up over not knowing. The world today is saturated with info. We're bound to miss some it.
Don't beat yourself up over not knowing. The world today is saturated with info. We're bound to miss some it.
27
...and besides, she didn't make a big deal out of the fact either. In fact, she barely knew him. They weren't close. Raised by her mother in Texas. Only met her half-sister a few years ago.
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