Late again, almost missed it: just enough time to ketchup... (I'll get my coat). Buñol's annual tomato fight; hat-tip JD at Nourishing obscurity.
P.S. 5 posts in one day, an Owsblog first (makes up for possible period of light-blogging coming up)
"At moderate levels, debt improves welfare and can enhance growth. But high levels can be damaging. When does the level of debt go from good to bad?... beyond a certain level, debt is bad for growth. ...The immediate implication is that countries with high debt must act quickly and decisively to address their fiscal problems. ...Up to a point, corporate and household debt can be good for growth. But when corporate debt goes beyond 90% of GDP, our results suggest that it becomes a drag on growth. And for household debt, we report a threshold around 85% of GDP, although the impact is very imprecisely estimated.".Parts of the abstract of "The real effects of debt", from the Bank for International Settlements, BIS. Full document pdf HERE. Look at Table 1, page 6: one country is WAY way out from the crowd in terms of changes in household, corporate and government debt as a percentage of nominal GDP between 2000 and 2010. The balls and brownstuff is smothered over the bed and the UK has to lie in it. Also, we may soon know more of the reasons why: Darling on the "brutal and volcanic" Brownstuff.
"Russia has decided to establish naval bases in Libya, Syria and Yemen within a few years, a Russian military official was quoted as saying on Friday by Itar-Tass news agency...“It is difficult to say how much time it will take to create the bases for our fleet in these countries, but within a few years this will be done without question"Gives a new twist to the Arab Spring; not so close to home it may also be getting Hugo a bit nervous what with a strategic bomber base, joint manoeuvres plus gold and uranium...what say 2012, mi pana primavera?
"What was disgraceful, though, was the structure of the programme. For many, The Reunion's version may be the first they have heard of the subject. It is the duty of the BBC to apply to history the impartiality on which its Charter insists. Yet, as with the same programme's treatment of the 30th anniversary of the Brixton riots (which this column criticised on March 28), the entire panel was on the same side. Blunt was a virtually innocent victim, we were told, and the only villain was the press.""The Reunion propagated the theory that spying for the Soviets in the Thirties and Forties was nothing worse than an excess of zeal. This is a shocking untruth. Hitler and Stalin were moral equivalents. ... The BBC would (rightly) never dream of making a programme which sought to excuse traitors who worked for the Nazis."
**The Blunt fact.
SIR – A group of worthies on Radio 4’s The Reunion were concerned that Anthony Blunt may be remembered not as an art historian, but as a spy. They need not worry. Although his Soviet controller was indeed a spy, Blunt himself was not. He was a traitor.
"This is a hard thing to say, and I am of course aware that this too is generalisation. But the truth is that many of these people are from families that are profoundly dysfunctional, operating on completely different terms from the rest of society, either middle class or poor."Blair adds, correctly IMHO, that this is a current and general phenomenon in almost all developed nations. He says the solution - his plan as New Labour (ha!), later abandoned (pah!) - was "intervention family by family, a reform of criminal justice around antisocial behaviour, organised crime, persistent offenders and gangs." Unfortunately, during ten years as PM he saw fit not to stop or reverse the emasculation of the police and the politicisation of both the police and the judiciary. [post edited 16:15 CET]
"It's about what each one of us does. Unsupervised. The decision we make individually...//...What act of humility and respect I can do to strengthen ties with others? How I can help others? How to stop judging someone for their political tendency?...//...When will we understand that a problem of our family, friends, companion or neighbours is also our problem."Of course you should feel that is slightly familiar and you'd be right: there is no such thing as society...
CTV News quotes a precious metals strategist at investment bank UBS: "There is a growing preference among many different communities in the gold market to have their physical gold at home."...[I'd say that was entirely sensible, wouldn't you?]P.S. Looking at that first link, from Q2 2006, gold had almost touched it's second highest price ever; now it's USD1100 more per ounce than then, did anyone take my advice then? Gold price chart provided by goldprice.org (click on image)
CTV News quotes a precious metals strategist at investment bank UBS: "There is a growing preference among many different communities in the gold market to have their physical gold at home."...[I'd say that was entirely sensible, wouldn't you?]P.S. Looking at that first link, from Q2 2006, gold had almost touched it's second highest price ever; now it's USD1100 more per ounce than then, did anyone take my advice then? Gold price chart provided by goldprice.org (click on image)
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"The country demands that this crime be stamped out... hang a looter and stop this filthy crime". A Daily Mirror headline!Calm down, calm down: this was in November 1940. "Then, as now, the newspapers demanded strong action from the government to curb the looting, though not even the most right-wing papers of 2011 went as far as the Daily Mirror...". Their outcry was because of the perception that the punishments weren't stopping the tide of looting that even included taking jewellery from the wounded and cutting off fingers of corpses to get the rings: "Fines and imprisonment have done nothing to stop the ghouls who rob even bodies lying in the ruins of little homes. Looting is in fact on the increase".
I've been in the room for ages... |
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