It seems there's a social convulsion every generation. 1914, 1939, 1964(ish), 1989 - a cycle that repeats about every 25 years.
I'm not going to get too numerological about this - the average age at marriage and/or first live birth varies over time - but I do wonder whether one important element in history is human physiology.
It's also odd that we speak of a "generation", as though humans bred en masse in seasons separated by many years, like cicadas. But I guess there's a certain age span between those just too young to have taken part in the last bash, and those just old enough to want to get into gangs and rumble in the next one.
Maybe Occupy Wall Street, St Paul's, Thessaloniki etc are just the pubertal stirrings of the next revolution, the quasi-Aldermaston-March preludes to the next mass mania.
2014, is my guess.
Sunday, November 13, 2011
Tuesday, November 08, 2011
The money-lender's pleasant dream
Germany, Germany above everything,
Above everything in the world,
When, for protection and defence, it always
takes a brotherly stand together.
From the Meuse to the Memel,
From the Adige to the Belt,
Germany, Germany above everything,
Above everything in the world!
German women, German loyalty,
German wine and German song
Shall retain in the world
Their old beautiful chime
And inspire us to noble deeds
During all of our life.
German women, German loyalty,
German wine and German song!
Unity and justice and freedom
For the German fatherland!
For these let us all strive
Brotherly with heart and hand!
Unity and justice and freedom
Are the pledge of fortune;
Flourish in this fortune's blessing,
Flourish, German fatherland!
US Congress and insider dealing
It's legal inside Congress, according to The Economic Collapse blog (see #9 on the list). Please click the title of this post for the link (Blogger, when wilt thou be healed?)
I'm not sure whether it's the same situation in the UK Parliament. Insider trading only became illegal in Britain with the passage of the Companies Act (1980), but I don't know whether MPs themselves are allowed to use nonpublic information to enrich themselves.
I'm not sure whether it's the same situation in the UK Parliament. Insider trading only became illegal in Britain with the passage of the Companies Act (1980), but I don't know whether MPs themselves are allowed to use nonpublic information to enrich themselves.
Thursday, November 03, 2011
Harvard student rebellion
Oz economist Steve Keen reports that Harvard students are rebelling against the one-sided teaching of economics on their course.
This may seem a bit abstruse, pipe-sucking and sock-suspendered, but until the world starts to work with a different model we're likely to make the same mistakes again.
Link: http://www.debtdeflation.com/blogs/2011/11/03/harvard-starts-its-own-paecon-against-mankiw/
(Blogger continues to disappoint in the matter of hyperlinks and general post editing.)
This may seem a bit abstruse, pipe-sucking and sock-suspendered, but until the world starts to work with a different model we're likely to make the same mistakes again.
Link: http://www.debtdeflation.com/blogs/2011/11/03/harvard-starts-its-own-paecon-against-mankiw/
(Blogger continues to disappoint in the matter of hyperlinks and general post editing.)
Wednesday, November 02, 2011
Greece: CMA predicted 68% haircut a month ago
The credit default swap market was factoring-in a significantly higher debt discount for Greece as early as October 6, long before the Greek Premier's sudden passion for democracy:
http://www.cmavision.com/images/uploads/docs/CMA_Global_Sovereign_Credit_Risk_Report_Q3_2011.pdf
UKIP leader Nigel Farage interprets the latest move by Papandreou as putting pressure on the EU to agree to a shorter haircut:
"He himself is in favour of the package but has no option but to offer this vote.
"If he failed to do so he would be railroading the Greek people into a situation where he will have mortgaged their democracy, their liberties and their freedom. He cannot do that without their permission. He must also be hoping that his brinkmanship will result in a better deal from Brussels. The calculation is clear."
http://www.ukipmeps.org/news_383_Aristotle-had-a-word-for-it.html
If so, it's a shrewd move, since (as Farage says) the EU has a long history of paying over the odds to realise and preserve their dream.
(Apologies for giving link addresses below quotes - Blogger has continuing problems which I hope they will sort soon.)
INVESTMENT DISCLOSURE: None. Still in cash (and index-linked National Savings Certificates), and missing all those day-trading opportunities.
DISCLAIMER: Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content.
http://www.cmavision.com/images/uploads/docs/CMA_Global_Sovereign_Credit_Risk_Report_Q3_2011.pdf
UKIP leader Nigel Farage interprets the latest move by Papandreou as putting pressure on the EU to agree to a shorter haircut:
"He himself is in favour of the package but has no option but to offer this vote.
"If he failed to do so he would be railroading the Greek people into a situation where he will have mortgaged their democracy, their liberties and their freedom. He cannot do that without their permission. He must also be hoping that his brinkmanship will result in a better deal from Brussels. The calculation is clear."
http://www.ukipmeps.org/news_383_Aristotle-had-a-word-for-it.html
If so, it's a shrewd move, since (as Farage says) the EU has a long history of paying over the odds to realise and preserve their dream.
(Apologies for giving link addresses below quotes - Blogger has continuing problems which I hope they will sort soon.)
INVESTMENT DISCLOSURE: None. Still in cash (and index-linked National Savings Certificates), and missing all those day-trading opportunities.
DISCLAIMER: Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content.
Tuesday, November 01, 2011
Overheard in France
- WHAT? He’s gonna do WHAT? Let the people decide? What’s he f---ing smoking?
- Tais-toi, Nicolas, tu te fais du mal...
- This is not a f—ing democracy! How’d you say that in Greek?
- It is politics, surely you understand...
- I understand he’s got to be here right now!
- Sois raisonnable, Nicolas, arrangements will have to be made, it takes time.
- Eh bien, Cannes tomorrow, or else!
- Tais-toi, Nicolas, tu te fais du mal...
- This is not a f—ing democracy! How’d you say that in Greek?
- It is politics, surely you understand...
- I understand he’s got to be here right now!
- Sois raisonnable, Nicolas, arrangements will have to be made, it takes time.
- Eh bien, Cannes tomorrow, or else!
Will the truth about the "anti-capitalists" be heard? - Part 4
Days after the Canon Chancellor of St Paul's Cathedral resigned in protest at the prospect of violence being used against the so-called "anti-capitalist" protesters, the Dean himself has resigned.
The latter was looking distinctly uncomfortable as he addressed the protesters in the last day or two (intimating that he shared their concerns but not their methods), and this is understandable when (reportedly) it was he who closed the doors of the Cathedral on "health and safety" grounds. I saw this as a PR ploy to put media pressure on the people outside, and I suggested the bluff should be called. Well, it's backfired anyhow, what with the Archbishop of Canterbury giving feline-subtle hints of support for the erstwhile Canon and leaving the Dean somewhat exposed.
Other spin may also bear re-examination: an audience member on BBC1's Question Time (Thursday night) challenged the media-spread allegation that most of the tents were empty at night, saying that the heat sensors were merely picking up the heat from tents that had gas burners going, and missing the body heat of other campers.
Have we - especially we bloggers - forgotten why the blogosphere has become such a significant forum? It's because of the biased, uncritical, gullible, lazy and perhaps even sometimes corrupt news reporting establishment.
Have we forgotten why the protestors are outside St Paul's, rather than Parliament, Downing Street or Threadneedle Street? It's because the might of the law is being used to squeeze dissent out of public spaces, with the - yes, I'd say it - evil misuse of legislation ostensibly introduced to combat organised criminal gangs and terrorists. Remember Brian Haw.
The subtext of mass reporting is that protest is OK as long as it's unobtrusive, out of the way and unheard. The more prominent element of the Fourth Estate has largely failed us, now that so many of them live in grand style and sup with the rich and powerful.
The latter was looking distinctly uncomfortable as he addressed the protesters in the last day or two (intimating that he shared their concerns but not their methods), and this is understandable when (reportedly) it was he who closed the doors of the Cathedral on "health and safety" grounds. I saw this as a PR ploy to put media pressure on the people outside, and I suggested the bluff should be called. Well, it's backfired anyhow, what with the Archbishop of Canterbury giving feline-subtle hints of support for the erstwhile Canon and leaving the Dean somewhat exposed.
Other spin may also bear re-examination: an audience member on BBC1's Question Time (Thursday night) challenged the media-spread allegation that most of the tents were empty at night, saying that the heat sensors were merely picking up the heat from tents that had gas burners going, and missing the body heat of other campers.
Have we - especially we bloggers - forgotten why the blogosphere has become such a significant forum? It's because of the biased, uncritical, gullible, lazy and perhaps even sometimes corrupt news reporting establishment.
Have we forgotten why the protestors are outside St Paul's, rather than Parliament, Downing Street or Threadneedle Street? It's because the might of the law is being used to squeeze dissent out of public spaces, with the - yes, I'd say it - evil misuse of legislation ostensibly introduced to combat organised criminal gangs and terrorists. Remember Brian Haw.
The subtext of mass reporting is that protest is OK as long as it's unobtrusive, out of the way and unheard. The more prominent element of the Fourth Estate has largely failed us, now that so many of them live in grand style and sup with the rich and powerful.
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