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Monday, November 21, 2011
European Debt Crisis Threatens U.S. Money Market Funds
European Debt Crisis Threatens U.S. Money Market Funds
"We've done a lot to prepare the banking sector," Jeffrey Lacker, president of the Richmond Federal Reserve Bank, said on Wednesday.
"I'm less confident about the money market funds and their ability to weather major problems at European institutions."
........Many investors believe money funds are as safe as lower-yielding bank accounts even though it is common knowledge that that they are not backed by the federal insurance that protects bank deposits.
Less well known, and of concern to U.S. officials, is that the money funds cannot count on the protection measures that were pulled together to help them in 2008.
"We've done a lot to prepare the banking sector," Jeffrey Lacker, president of the Richmond Federal Reserve Bank, said on Wednesday.
"I'm less confident about the money market funds and their ability to weather major problems at European institutions."
........Many investors believe money funds are as safe as lower-yielding bank accounts even though it is common knowledge that that they are not backed by the federal insurance that protects bank deposits.
Less well known, and of concern to U.S. officials, is that the money funds cannot count on the protection measures that were pulled together to help them in 2008.
Peter Schweizer responds
Peter Schweizer responds Power Line
The claim that John Kerry has no incentive to transfer information for stock profit also doesn’t make sense.
Who cares if he is already rich?
Martha Stewart was worth more than $1 billion when she was charged with it.
Research indicates that insider trading is usually not about the money, but a sense of entitlement.
3. The claim by Jenkins and Scott here that this information is not all that valuable anyway also flies in the face of reality.
Hedge funds that are politically connected perform dramatically better than those that aren’t.
And hedge funds are paying lobbyists huge sums of money to tell them what bills will pass and when so they can execute trades on that information.
The claim that John Kerry has no incentive to transfer information for stock profit also doesn’t make sense.
Who cares if he is already rich?
Martha Stewart was worth more than $1 billion when she was charged with it.
Research indicates that insider trading is usually not about the money, but a sense of entitlement.
3. The claim by Jenkins and Scott here that this information is not all that valuable anyway also flies in the face of reality.
Hedge funds that are politically connected perform dramatically better than those that aren’t.
And hedge funds are paying lobbyists huge sums of money to tell them what bills will pass and when so they can execute trades on that information.
BORN in a Prison Camp, Mr. Shin Thought North Korea's Torture was "Normal"
BORN in a Prison Camp, Mr. Shin Thought North Korea's Torture was "Normal" Red County
Watching his mother and brother executed for trying to escape, Shin told us he "didn't shed a tear," thinking this barbaric black hole was "normal." He even justified his punishment --burnings and whippings-- for their actions.
When prison guards cut-off his finger tip for accidently damaging a sewing machine, he was grateful his punishment wasn't worse.
Mr. Shin took the initiative to escape mainly because he had to --he was starving.
Once in South Korea, he was surprised the world had color.
Watching his mother and brother executed for trying to escape, Shin told us he "didn't shed a tear," thinking this barbaric black hole was "normal." He even justified his punishment --burnings and whippings-- for their actions.
When prison guards cut-off his finger tip for accidently damaging a sewing machine, he was grateful his punishment wasn't worse.
Mr. Shin took the initiative to escape mainly because he had to --he was starving.
Once in South Korea, he was surprised the world had color.
The Naughty Professor
Wolfram: The Naughty Professor themichiganview.com The Michigan View
- does raise questions about ethical behavior in a taxpayer-funded institution.
Danny Guthrie, associate professor of photography in MSU's Art Department, began taking nude photos of himself and current and former students according to a recent article in The State News.
When university officials told Guthrie to cease the photo shoots, he resisted.
- does raise questions about ethical behavior in a taxpayer-funded institution.
Danny Guthrie, associate professor of photography in MSU's Art Department, began taking nude photos of himself and current and former students according to a recent article in The State News.
When university officials told Guthrie to cease the photo shoots, he resisted.
James Hansen and the Corruption of Science
James Hansen and the Corruption of Science Power Line
We can’t say it enough: global warming alarmism is not science.
It is politics at best, outright fraud at worst.
We can’t say it enough: global warming alarmism is not science.
It is politics at best, outright fraud at worst.
Obama Admin Bans US Aircraft Maker, Favors Non-US Firm with Ties to Iran on Light Aircraft Project
The PJ Tatler » Obama Admin Bans US Aircraft Maker, Favors Non-US Firm with Ties to Iran on Light Aircraft Project
Why is the administration making a decision to exclude an American manufacturer in favor of a maker with such a history?
This is the Obama administration’s second billion-dollar giveaway to the Brazilian government in 2011; the first was its outrageous offshore oil loan guarantee decision in March.
The two decisions siphon more than $2 billion and more than 21,000 jobs out of the US economy
Why is the administration making a decision to exclude an American manufacturer in favor of a maker with such a history?
This is the Obama administration’s second billion-dollar giveaway to the Brazilian government in 2011; the first was its outrageous offshore oil loan guarantee decision in March.
The two decisions siphon more than $2 billion and more than 21,000 jobs out of the US economy
The Tebow Haters
The Tebow Haters - HUMAN EVENTS
Good people make bad people uncomfortable.
Their example nudges everyone to undertake the hard work to be better.
Our faults are so much easier to tolerate when we stand next to Jerry Sandusky.
Good people make bad people uncomfortable.
Their example nudges everyone to undertake the hard work to be better.
Our faults are so much easier to tolerate when we stand next to Jerry Sandusky.
Sunday, November 20, 2011
Why Yankee Doodle called it “macaroni”
The Volokh Conspiracy » Why Yankee Doodle called it “macaroni”
The question has bothered me for decades.
We sang “Yankee Doodle” plenty of times at school, but nobody seemed to wonder why he would say that “a feather in his cap” was “macaroni.”
The question has bothered me for decades.
We sang “Yankee Doodle” plenty of times at school, but nobody seemed to wonder why he would say that “a feather in his cap” was “macaroni.”
Thanksgiving Meal for Ten Only $34.03 at Walmart
CARPE DIEM: Thanksgiving Meal for Ten Only $34.03 at Walmart
Update 1:
"What single organization in human history has made the greatest contribution to enriching and improving the lives of the poor, the middle class, the average citizen, the bottom of "the 99%," etc.?
I nominate Walmart."
Update 1:
"What single organization in human history has made the greatest contribution to enriching and improving the lives of the poor, the middle class, the average citizen, the bottom of "the 99%," etc.?
I nominate Walmart."
14,000 abandoned wind turbines
14,000 abandoned wind turbines « Don Surber
When an honest history of this period in the United States is written, it will no be kind to the corporate cronyism that preyed upon public ignorance of earth science to create a crisis — global warming — to exploit and loot the Treasury
When an honest history of this period in the United States is written, it will no be kind to the corporate cronyism that preyed upon public ignorance of earth science to create a crisis — global warming — to exploit and loot the Treasury
Saturday, November 19, 2011
Elite Firms Fishing in a Very Small Hiring Poo
Elite Firms Fishing in a Very Small Hiring Pool - Megan McArdle - Business - The Atlantic
1. Most applications practically go straight in the trash.
2. Evaluators have a lot of slack. . . . In fact, evaluators explicitly select candidates similar to themselves in school rank, grades, etc. For example:
[R]oughly one-third of evaluators did not use educational prestige as a signal.
One of the primary differences between these two groups was their own educational history, with those who had attended "top" schools being more likely to use educational prestige as a screen than those who had attended other types of selective institutions.
3. Super-elite credentials matter much more than your academic record:
[E]valuators drew strong distinctions between top four universities, schools that I term the super-elite, and other types of selective colleges and universities.
So-called "public Ivies" such as University of Michigan and Berkeley were not considered elite or even prestigious...
4. Super-elite schools matter because they're strong signals, not because they're better at building human capital:
Evaluators relied so intensely on "school" as a criterion of evaluation not because they believed that the content of elite curricula better prepared students for life in their firms - in fact, evaluators tended to believe that elite and, in particular, super-elite instruction was "too abstract," "overly theoretical," or even "useless" compared to the more "practical" and "relevant" training offered at "lesser" institutions...
[I]t was not the content of an elite education that employers valued but rather the perceived rigor of these institutions' admissions processes. According to this logic, the more prestigious a school, the higher its "bar" for admission, and thus the "smarter" its student body. . .
5. At least in this elite sample, I'm totally wrong to think that extracurriculars don't matter:
[E]valuators believed that the most attractive and enjoyable coworkers and candidates would be those who had strong extracurricular "passions." They also believed that involvement in activities outside of the classroom was evidence of superior social skill; they assumed a lack of involvement was a signal of social deficiencies... By contrast, those without significant extracurricular experiences or those who participated in activities that were primarily academically or pre-professionally oriented were perceived to be "boring," "tools," "bookworms," or "nerds" who might turn out to be "corporate drones" if hired.
1. Most applications practically go straight in the trash.
2. Evaluators have a lot of slack. . . . In fact, evaluators explicitly select candidates similar to themselves in school rank, grades, etc. For example:
[R]oughly one-third of evaluators did not use educational prestige as a signal.
One of the primary differences between these two groups was their own educational history, with those who had attended "top" schools being more likely to use educational prestige as a screen than those who had attended other types of selective institutions.
3. Super-elite credentials matter much more than your academic record:
[E]valuators drew strong distinctions between top four universities, schools that I term the super-elite, and other types of selective colleges and universities.
So-called "public Ivies" such as University of Michigan and Berkeley were not considered elite or even prestigious...
4. Super-elite schools matter because they're strong signals, not because they're better at building human capital:
Evaluators relied so intensely on "school" as a criterion of evaluation not because they believed that the content of elite curricula better prepared students for life in their firms - in fact, evaluators tended to believe that elite and, in particular, super-elite instruction was "too abstract," "overly theoretical," or even "useless" compared to the more "practical" and "relevant" training offered at "lesser" institutions...
[I]t was not the content of an elite education that employers valued but rather the perceived rigor of these institutions' admissions processes. According to this logic, the more prestigious a school, the higher its "bar" for admission, and thus the "smarter" its student body. . .
5. At least in this elite sample, I'm totally wrong to think that extracurriculars don't matter:
[E]valuators believed that the most attractive and enjoyable coworkers and candidates would be those who had strong extracurricular "passions." They also believed that involvement in activities outside of the classroom was evidence of superior social skill; they assumed a lack of involvement was a signal of social deficiencies... By contrast, those without significant extracurricular experiences or those who participated in activities that were primarily academically or pre-professionally oriented were perceived to be "boring," "tools," "bookworms," or "nerds" who might turn out to be "corporate drones" if hired.
Nancy Pelosi Wants A Federal Babysitting Service
Nancy Pelosi Wants A Federal Babysitting Service
"One of the great pieces of unfinished business is high-quality child care; I wonder why we just can’t do that,’’ she recently said to a California audience.
"One of the great pieces of unfinished business is high-quality child care; I wonder why we just can’t do that,’’ she recently said to a California audience.
Sierra Club leader departs amid discontent over group's direction
Sierra Club leader departs amid discontent over group's direction - latimes.com
He was replaced by Michael Brune, 40, a veteran of smaller activist groups, who has pledged to concentrate on grass-roots organizing, recruit new members and focus on such issues as coal-fired power plants.
He was replaced by Michael Brune, 40, a veteran of smaller activist groups, who has pledged to concentrate on grass-roots organizing, recruit new members and focus on such issues as coal-fired power plants.
Penn State’s institutional wickedness
Mark Steyn: Penn State’s institutional wickedness assistant, graduate, state - Opinion - The Orange County Register
Hold it right there.
"The next morning"?
Here surely is an almost too perfect snapshot of a culture that simultaneously destroys childhood and infantilizes adulthood.
The "child" in this vignette ought to be the 10-year-old boy, "hands up against the wall," but, instead, the "man" appropriates the child role for himself: Why, the graduate assistant is so "distraught" that he has to leave and telephone his father.
He is pushing 30, an age when previous generations would have had little boys of their own.
But today, confronted by a grade-schooler being sodomized before his eyes, the poor distraught child-man approaching early middle-age seeks out some fatherly advice, like one of Fred MacMurray's "My Three Sons" might have done had he seen the boy next door swiping a can of soda pop from the lunch counter.
....."When we say 'we don't know what we'd do under the same circumstances,' we make cowardice the default position."
Hold it right there.
"The next morning"?
Here surely is an almost too perfect snapshot of a culture that simultaneously destroys childhood and infantilizes adulthood.
The "child" in this vignette ought to be the 10-year-old boy, "hands up against the wall," but, instead, the "man" appropriates the child role for himself: Why, the graduate assistant is so "distraught" that he has to leave and telephone his father.
He is pushing 30, an age when previous generations would have had little boys of their own.
But today, confronted by a grade-schooler being sodomized before his eyes, the poor distraught child-man approaching early middle-age seeks out some fatherly advice, like one of Fred MacMurray's "My Three Sons" might have done had he seen the boy next door swiping a can of soda pop from the lunch counter.
....."When we say 'we don't know what we'd do under the same circumstances,' we make cowardice the default position."
Friday, November 18, 2011
State employee pension systems deliver budget shock
State employee pension systems deliver budget shock - Springfield, IL - The State Journal-Register
Most for university pensions
The university system is the main reason for the increase.
SURS originally expected to need $1.06 billion next year.
Instead it told lawmakers and the governor’s office it needs $1.4 billion, up from $980.5 billion this year.
Most for university pensions
The university system is the main reason for the increase.
SURS originally expected to need $1.06 billion next year.
Instead it told lawmakers and the governor’s office it needs $1.4 billion, up from $980.5 billion this year.
Detroit's clock striking midnight
Stephen Henderson: Detroit's clock striking midnight Detroit Free Press freep.com
The City of Detroit is running out of money.
Not in the theoretical terms we've imagined for decades, but in literal figures, splayed out over spreadsheets that tell a long story of mismanagement and incompetence, culminating in insolvency.
Cash runs out by April, unless dramatic steps are taken.
The City of Detroit is running out of money.
Not in the theoretical terms we've imagined for decades, but in literal figures, splayed out over spreadsheets that tell a long story of mismanagement and incompetence, culminating in insolvency.
Cash runs out by April, unless dramatic steps are taken.
Treasury Admits What Everybody Already Knew: Taxpayer Losses On GM Bailout Are Going to be Massive
Treasury Admits What Everybody Already Knew: Taxpayer Losses On GM Bailout Are Going to be Massive - Hit & Run : Reason Magazine
This means that the total hit to taxpayers, who still own about a quarter of the company, could add up to $38.6 billion.
That’s even more that the $34 billion on the outside I had predicted in May.
This means that the total hit to taxpayers, who still own about a quarter of the company, could add up to $38.6 billion.
That’s even more that the $34 billion on the outside I had predicted in May.
One in four American women take medication for a mental disorder
One in four American women take medication for a mental disorder Mail Online
More than one in four American women took at least one drug for conditions like anxiety and depression last year, according to an analysis of prescription data.
The report, by pharmacy benefits manager Medco Health Solutions Inc, found the use of drugs for psychiatric and behavioral disorders in all adults rose 22per cent from 2001.
More than one in four American women took at least one drug for conditions like anxiety and depression last year, according to an analysis of prescription data.
The report, by pharmacy benefits manager Medco Health Solutions Inc, found the use of drugs for psychiatric and behavioral disorders in all adults rose 22per cent from 2001.
Labor Unions Have 'Occupied' Occupy Wall Street
Labor Unions Have 'Occupied' Occupy Wall Street Business News
"the group has secured visible backing from organized labor. They now have the support of the most powerful organizing group in the country. The home page of the Service Employees International Union (SEIU) even helps people to find an OWS location near them so that they can protest".
"the group has secured visible backing from organized labor. They now have the support of the most powerful organizing group in the country. The home page of the Service Employees International Union (SEIU) even helps people to find an OWS location near them so that they can protest".
Bing to lay off 1,000 workers, freeze hiring
Bing to lay off 1,000 workers, freeze hiring Crain's Detroit Business
Detroit Mayor Dave Bing plans to lay off 1,000 city workers, effective Feb. 25, and freeze hiring for all civil service positions.
Detroit Mayor Dave Bing plans to lay off 1,000 city workers, effective Feb. 25, and freeze hiring for all civil service positions.
FuturePundit: Europe Boosting CO2 Emissions With Biofuels Mandate
FuturePundit: Europe Boosting CO2 Emissions With Biofuels Mandate
A new study on greenhouse gas emissions from oil palm plantations has calculated a more than 50% increase in levels of CO2 emissions than previously thought – and warned that the demand for 'green' biofuels could be costing the earth.
A new study on greenhouse gas emissions from oil palm plantations has calculated a more than 50% increase in levels of CO2 emissions than previously thought – and warned that the demand for 'green' biofuels could be costing the earth.
Will physician Medicare fees be cut by 27.4% this January?
Will physician Medicare fees be cut by 27.4% this January? Crain's Detroit Business
Fixing the broken physician Medicare fee schedule appears to be too complicated for Washington politicians
Fixing the broken physician Medicare fee schedule appears to be too complicated for Washington politicians
AFP: Pentagon successfully tests hypersonic flying bomb
AFP: Pentagon successfully tests hypersonic flying bomb
The Pentagon on Thursday held a successful test flight of a flying bomb that travels faster than the speed of sound and will give military planners the ability to strike targets anywhere in the world in less than a hour.
Shouldn't this be sorta... like... secret...?
The Pentagon on Thursday held a successful test flight of a flying bomb that travels faster than the speed of sound and will give military planners the ability to strike targets anywhere in the world in less than a hour.
Shouldn't this be sorta... like... secret...?
Thursday, November 17, 2011
EU says water is not healthy
Express.co.uk - Home of the Daily and Sunday Express UK News :: EU says water is not healthy
In a scarcely believable ruling, a panel of experts threw out a claim that regular water consumption is the best way to rehydrate the body.
The bizarre diktat from Brussels has far-reaching implications for member states, including Britain, as no water sold in the EU can now claim to protect against dehydration.
In a scarcely believable ruling, a panel of experts threw out a claim that regular water consumption is the best way to rehydrate the body.
The bizarre diktat from Brussels has far-reaching implications for member states, including Britain, as no water sold in the EU can now claim to protect against dehydration.
The New Welfare Swindle
The American Spectator : The New Welfare Swindle
Ever since I moved to the inner city one thing has puzzled me more than any other, and that is how my low-income neighbors get by.
Assuming they aren't doing anything illegal, how do they afford their homes, their meals, their gadgets, their cars?
Ever since I moved to the inner city one thing has puzzled me more than any other, and that is how my low-income neighbors get by.
Assuming they aren't doing anything illegal, how do they afford their homes, their meals, their gadgets, their cars?
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