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Monday posting will resume in the new year. Cheer up, motherfuckers!
But leverage is everywhere, not just on Wall Street. If you buy a house with 20% down, you're employing leverage of 4:1. At 10% down it's 9:1. At 5% down it's 19:1. At the FHA minimum of 3.5%, it's 27:1.
That's too much. Just as leverage much above 10:1 is dangerous in the banking system, it's dangerous in the home mortgage market too. If 10% had been the minimum down payment over the past decade, the housing bubble never would have taken off the way it did. Crazy loans would have been rare. Unqualified buyers would have continued to rent. Mortgage fraud would have been dramatically reduced. Speculation and flipping would have been dampened. Foreclosures wouldn't have decimated entire cities. The derivatives market wouldn't have reached such stratospheric heights. We still might have had a medium-sized housing bubble, but the world probably wouldn't have been on the verge of imploding last year.
We should limit leverage everywhere: in the real banking system, in the shadow banking system, in hedge funds, and where it's baked into derivatives. But we should also do it at the individual level: mortgage loans, car loans, and credit card loans. The point is not to cut off credit, but to do what we can to ensure that it grows steadily and sensibly, not catastrophically. A minimum 10% down payment to buy a house is a place to start.
What’s the difference? Short story. Novel. It’s going to have stupid vampires in it. If the reader is that easily amused, then $3.99 is a perfect price point. “What are you reading?” (Oh, it’s a short story I bought on line.) “What’s it about?” (Well, it’s got these, you know, it’s really great, it’s set in this weird country…….it’s about vampires, okay? Vampires.) “Why Johnny can’t read, eh?” (Huh?) “This is my stop, good luck.” (Snob. What are you reading? Come back here!) The Snob stepped quickly from the car, dodging the rush of fresh passengers. Then a vampire jumped from out of nowhere and killed him, and laughed about it, like the dirty rat-person thingie a vampire truly is. The end. That’ll be $3.99 please.
Chiang is one of the legends of the science fiction world, often hailed as the best short story writer of his generation.
And at the risk of pissing off some decent people, I'll add one other thing. In the near term, no serious carbon tax will ever pass the U.S. Senate. Period. If you believe otherwise, you're just not paying attention to things. A big part of the surge in interest in a carbon tax is purely cynical, coming from special interests who are afraid a carbon cap might actually pass and want to muddy the waters with pseudo-liberal arguments in order to build an anti-C&T alliance and keep anything at all from passing. There are plenty of carbon tax advocates who are perfectly sincere, but I gotta tell them: you're being played by people who are the farthest thing imaginable from sincere. If you win, we're not going to get a carbon tax. We're going to get nothing.
The company is looking for a buyer willing to shell out around $300 million for its Willy Wonka Beer Factory that produces Pabst Blue Ribbon, Old Milwaukee, Schlitz and Colt 45 — in other words, roughly a quarter of the world's supply of awesome. | via |
"Managed" or "specialized" services, such as VOIP or subscription video services, may fall into a special category since they "may differ from broadband Internet access services in ways that recommend a different policy approach, and it may be inappropriate to apply the rules proposed here." The FCC is looking for input on how to approach this special class of services.
“It must be our prediction that all Higgs producing machines shall have bad luck,” Dr. Nielsen said in an e-mail message. In an unpublished essay, Dr. Nielson said of the theory, “Well, one could even almost say that we have a model for God.” It is their guess, he went on, “that He rather hates Higgs particles, and attempts to avoid them.”
This malign influence from the future, they argue, could explain why the United States Superconducting Supercollider, also designed to find the Higgs, was canceled in 1993 after billions of dollars had already been spent, an event so unlikely that Dr. Nielsen calls it an “anti-miracle.”
If it weren't true that GLENN BECK RAPED AND MURDERED A GIRL IN 1990, then he would come out and deny these allegations.”
I also heard that Glenn Beck murdered and raped a girl in 1990. I was not shown any compelling evidence of this, but Glenn could easily clear this whole thing up by releasing his sealed criminal records.”
I don't know if Glenn Beck raped and murdered that girl in 1990, but without him releasing his criminal record, we will never be sure. |Poljunk|
We are not here because the domain name could cause confusion. We do not have a declaration from the president of the international association of imbeciles that his members are blankly staring at the Respondent’s website wondering “where did all the race baiting content go?” We are here because Mr. Beck wants Respondent’s website shut down. He wants it shut down because Respondent’s website makes a poignant and accurate satirical critique of Mr. Beck by parodying Beck’s very rhetorical style. |Link|
The raw materials of the Glenn Beck Raped and Murdered a Young Girl in 1990 meme (hereinafter, the “Beck Meme”) are twofold. The meme is a parody of from Glenn Beck’s own argumentation style mated with a Gilbert Gottfried routine performed during the Comedy Central Roast of “comedian” Bob Saget. During Gottfried’s speech, he kept repeating (in his trademark nasally voice) that there were rumors that Bob Saget had raped and killed a girl in 1990. Gottfriend admonished listeners to stop spreading this rumor – which had never existed in the first place. As there is no more sure fire way to destroy a joke than to explain it, much less in legal papers, ...
The humor equation is simple: (Outrageous Accusation) + (Celebrity) + (Question Why the Celebrity Does Not Deny the Accusation) = (Confirmation of the Falsity of the Accusation + Laughter) A poignant example of Beck using the Gottfried Technique is this Glenn Beck interview with Congressman Keith Ellison, a Muslim. Beck famously
said:"No offense and I know Muslims, I like Muslims, I've been to mosques, I really don't think Islam is a religion of evil. I think it's being hijacked, quite frankly. With that being said, you are a Democrat. You are saying let's cut and run. And I have to tell you, I have been nervous about this interview because what I|Link|
feel like saying is, sir, prove to me that you are not working with our enemies. And I know you're not. I'm not accusing you of being an enemy. But that's the way I feel, and I think a lot of Americans will feel that way."
[T]he court case against Mr. Hall is clear cut. He has slandered and libeled with the intent to do harm. He infringed upon Mr. Beck’s good name, reputation and copyright. He has sought to profit from lies. He is promoting a radical political agenda for his own secret nefarious purposes. He has made false accusations, akin to crying “Fire!” in a crowded theater. His words are a threat to the livelihood and safety of Glenn Beck and his family. Mr. Hall has tried to hide behind the clichĆ© of “Freedom of Speech” while in truth attacking the very foundations of American democracy. |ChristWire|
Who is stepping up to defend this criminal? It is none other than Marc J. Randazza, described in his hometown newspaper as a, “slimy liberal incompetent moonbat home-schooled moron lawyer.” Randazza labels himself with the fancy title “Esquire” as if he’s living in some 19th-century English hamlet wearing a peacock feather in his fedora. He runs a website entitled, The Legal Satyricon, in reference to a work by an ancient Roman pedophile named Petronius. (The immorality and sexual radicalism of The Satyricon was brought to the big screen some years ago by notorious Italian Federico Fellini.)
Lawyer Randazza seems to handle only the most salacious of legal cases, mostly involving impoverished bloggers. (You have to wonder what sorts of physical debasements these penniless clients must trade for his services.) He is a professor at a Florida law school (though it’s hard to imagine such a thing) and also claims to be a resident of Gloucester, Massachusetts, a stone’s throw from infamous homosexual politician Barney Frank’s congressional district. |ChristWire|
After taking the subway home from a show last night one of the first things I saw on the teevee was an anti-drunk driving ad. It occurred to me that in all the years I've been seeing these things I don't remember a single one (I could be wrong!) suggesting people take mass transit instead of driving.
He had gotten quite used to his hooks,” his mother says of her son’s artificial arms. “He could dress himself. He could drive his car. He could do a lot of things.”
…after the double hand transplant, Kepner had to start over again…Now in therapy, he is learning how to pick up small items, like cotton balls, and catch a ball, but he still has no feeling in his fingers. The nerves grow about an inch a month from where the hands were attached, at the forearm.
“They told him it will be at least until the end of the year before those nerves get down into those fingers,” Doris Schafer said. “Then he’ll begin to do things.” | via |
If people in [EU headquarters] struggle to understand how troublesome Congress can be to an American administration, they should try this mental aid.
Congress is a bit like France: prickly, status-obsessed, ruthless in defending national interests and addicted to subsidies for special interests such as farmers or industrial champions.
Both are ambivalent about free trade: as the Copenhagen climate talks near, it is France and certain American senators who want to talk up “green tariffs” in case China and India duck binding limits on carbon. |The Atlantic Gap - Economist|
Taken together the four items form a measure of what scholars call racial resentment. We find an extraordinarily strong correlation between racial resentment of blacks and opposition to health care reform.
Once again Texas is No. 1 in the nation when it comes to the percentage of its residents who are uninsured. Just over 25 percent of Texans were uninsured in a two-year average calculated at the end of 2008, according to the Census Bureau. That's an increase from the 24.1 percent uninsured rate in 2005 and 2006.
From a numbers perspective, Texas has 5.9 million total uninsured residents.
“While my body was asleep, I think my soul rode on a triangular-shaped UFO and went to Venus,” Miyuki Hatoyama, the wife of premier-in-waiting Yukio Hatoyama, wrote in a book published last year.
“It was a very beautiful place and it was really green.”
Yukio Hatoyama is due to be voted in as premier on September 16 following his party’s crushing election victory over the long-ruling Liberal Democratic Party on Sunday.
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When she awoke, Japan’s next first lady wrote, she told her now ex-husband that she had just been to Venus. He advised her that it was probably just a dream.
“My current husband has a different way of thinking,” she wrote. “He would surely say ‘Oh, that’s great’.”
I found a bunch of old reviews of mine recently. Flipping through the review forms started with refreshing simplicity from over a decade ago, rapidly turning into confusing churn (company value ratings and all that crap), to now a fragmented collection of task-driven thoughts. While it's nice that the review form has pretty much stuck to the current form now and we don't have new components coming and going (yeah schema?) it really doesn't compare to the first couple of reviews I did at Microsoft.
Of course, I had great managers who knew how to give concise feedback, both daily and as part of my review. Where you don't have demonstrated collective excellence, you have process.
I had somebody shoot my toe off with a crossbow, which was cool, because it was after the slash vs. pierce merge. It just happened that the toe was narrow enough to be removed.
I got to test out the sort of reverse compound fracture thingies where a piece is knocked inward rather than out through the skin. Right now the relationships for the ribs are a little too general, so in the example a left rib goes through the liver (rather than a more appropriate right rib, but that's okay for now. The current text: "You bash The Farmer in the upper body with your bismuth bronze war hammer, bruising the muscle, jamming the left floating rib through the liver tissue and tearing the liver!" There are various issues -- mentioning the bruise is a little weird since it's not that important, the mention of the liver tissue vs the liver tear could be compacted, there are actually two floating ribs on that side and it doesn't go into exactly what happened there, and The Farmer is capitalized (which is an older problem), but it works well enough for now so I'm not going to spend a lot more time on the text. This one also demonstrates the body part relationships nicely though -- the rib was struck first, and it shows a compound-style fracture acting between different parts (rather than just a bone through skin in a single part).
Let's be honest with ourselves: the American right has a deep-seated problem with political violence. It's deep-seated; it's recurrent and it's real. And it endangers the country. It just makes sense to say something the first time they hit the sauce and not wait for things to get really out of hand.
Universal have confirmed that Bryan Singer will produce and direct the big-screen reboot of Battlestar Galactica, following up on Wednesday's leak from HitFix.com. Singer will producer the movie with Galactica creator Glen Larson. No writer has been attached yet.
The new government estimates are out on child rearing, and now "a middle-income family can expect to spend $291,570 including inflation to raise a child born in 2008 to adulthood" (not including childbirth or college), reports Reuters. In today's dollars, it works out to between $11,000 and $13,000 annually.
Over one billion people are expected to vote [for the Seven Great Wonders of the Natural World], and they say not a single one will be opting for my candidate.
The global poll to determine the seven natural wonders of the world is underway—seven natural wonders to go alongside the seven manmade wonders. The finalists include the Amazon rain forest, the Dead Sea, Mount Kilimanjaro, and Ecuador's Galapagos Islands. Millions have weighed in already, online and by phone. But they tell me my vote has been wasted because my candidate was never nominated...
I nominate you, the creature I see out my car window shuffling past the convenience store, picking the quarter off the sidewalk. You with the fanny pack emerging from Walmart with your lawn ornament.
I nominate myself and my brethren—we the people. I nominate us as the greatest wonder of the natural world. We've only been around 200,000 years, yet look at us. We're something to write home about.
Mountains, trees, and waterways are sites to ponder, but what subject dominates bookshelves everywhere? Human life, that's what. We're not just standing there looking pretty. We're on the move. We're going places. The ancient Egyptians were something, but the ancient Greeks were better. And I like Martin Luther as much as the next guy, but have you read Ken Wilber?
Yes, we rape and torture, but it only makes the Minnesota Orchestra all the more startling. We have the dark and the light in us like nothing this universe has ever seen. Even night and day don't have such stark alter egos. Night is as sweet and soulful as any summer afternoon. Our dark side, however, is too horrific to fully comprehend (see Nanking, 1937). So when we walk on the moon and build the St. Paul Cathedral, there is every reason to ask, who the hell are these freaks?
We are the world's greatest show, for better and for worse. We offer jaw-dropping surprises when you least expect it. When the savagery of South Africa's apartheid leaves you ashamed and aching for that isolated cabin in the woods, along comes the staggeringly mature civility of the Truth and Reconciliation Commission, and damned if we don't outdo ourselves again.
We can vomit on a park bench holding a cheap bottle of brandy and give our lives to save a child we've never met. We can stand with our shirt half untucked, needing a shave, smelling of old cigarettes, and deliver a sentiment that cracks open a steel heart. Our capacity for love is boundless, but we can die moaning of some half-cent sales-tax increase.
What else touches our depravity and nobility? What else comes near our fascinating complexity? We are dust, and we are gods, peerless in our paradox.
|Humankind snubbed on Seven Wonders of the World List (hyperlinks omitted)|
Ever wonder why we swing our arms when we walk? Is it just a left-over trait from when we were on all fours?
Well, some researchers were interested in answering that question. They found out that swinging arms wasn’t quite the waste of energy most had assumed. In fact, holding your arms by your side while walking requires 12% more metabolic energy.
Why do I see a future infomercial on the handcuff calorie burning plan?
A year ago, we saw a quiz thing that asked you to determine which of four odd phrases were euphemisms for sexual acts. By the time we had discovered this question, every item on the list had developed a carnal reputation. That is to say, every item. We are fast approaching a point where ordering a sandwich at a deli will land you in prison. While I'm intrigued by the dystopian undertones of this scenario, I don't necessarily want to live under its strictures, not least of which because I tend to frequent delis.
Also, I'm pretty sure that "Dystopian Undertones" is guttermouth for the male testes.
Although I am saddened and a bit embarrassed that I had no choice but to resort to this action, at least I am in good company. . . .
Two of our greatest presidents, Thomas Jefferson (filed several times) and Abraham Lincoln, were able to restructure their lives through bankruptcy and went on to do great things such as helping to establish the University of Virginia and abolishing slavery.
Ulysses S. Grant went bankrupt after leaving office when a partner in an investment-banking venture swindled him. (I can certainly identify with this one.)
William McKinley filed for protection while serving as Ohio’s governor in 1893. He was in debt to the tune of $130,000 (an insurmountable sum in those days!) before some friends eventually helped to bail him out. Three years later, he occupied a desk in the Oval Office.
Other prominent men who made the list and later went on to huge successes:
- Mark Twain
- Donald Trump (2 timer)
- Henry Ford
- William Crapo Durant (founder of GM)
- Walt Disney (up to bat several times)
- Burt Reynolds
- H.J. Heinz
- Milton Hershey
- P.T. Barnum
- Lenny K. Dykstra (coming soon!)
Among Jews, a subtext of many debates about Israeli/Palestinian politics is the question of who gets to define Jewishness. Is it believers and militarists who believe that "Greater Israel" really is land "promised" to the descendants of Abraham and Isaac? Or humanists who take pride in Jews' diaspora history as "rootless cosmopolitans?" Who is more "in touch" with their Jewishness -- a secular Israeli or a practicing American? A peacenik, a kibbutznik, or a hawk?
Of course, like most debates over legitimacy and authenticity, these questions are reductive, silencing, and actually prevent people from understanding one another. The starting point for a political discussion on settlements, for example, or Palestinian statehood, should not be a definition of "appropriate" Jewishness. Why? Because fixating on that question, as Phil Weiss has written, makes it easier to elide the fact that the group of people primarily suffering right now -- and primarily culturally threatened -- are not Jews, but Palestinians.
That's not to say that we shouldn't make political arguments informed by our own understanding of Jewish values -- and do so proudly and assertively. I've done so myself. But the bottom line is that those who seek to police other people's Jewishness betray an ideological rigidity that is completely unhelpful in the current political moment. | TAPPED |
Why would a robot need to fart, pee, or vomit? And why would it need testicles?
Michael Bay does not understand what a robot is.
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Why can only a Prime kill the Fallen? Why can Jetfire teleport? Why can the Fallen wave a staff and make shit fly around? Why do actual cars and Autobots get sucked into Devastator's maw, but John Turturro and that other kid can run around?
Because... because FUCK YOU, that's why.
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If you had to pick a single scene that exemplifies Michael Bay's utter disdain for story and continuity, what would it be?
When five Decepticons sink to the bottom of the ocean to retrieve Megatron's corpse. A submarine tracks five "subjects" going down, and when they get there, one of the Decepticons is killed to give parts to Megatron. 5 -1 +1 = 5, right? No, because the sub somehow tracks "six" subjects coming up. Not only is this very basic math, this is the simplest of script errors. It could not possibly have been more than one page apart in the script. And yet Michael Bay either didn't care to notice or didn't give a fuck. "Math? Math is for pussies. My movies are about shit blowing up, man."
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Could you sum up the film in one line of its dialogue?
"I am standing directly beneath the enemy's scrotum."
I think I have pretty well-established credentials when it comes to being charmed by Sarah Palin, but that statement, as a statement, was simply terrible. Rambling and not at all persuasive as an argument for her decision. More Gibson/Couric than GOP convention speech. She shouldn't have said a thing without getting Matt Scully—or some similarly talented speechwriter—on the case first. As to how this decision plays out ultimately, we'll see. There's plenty of time if (as I assume) she wants to run in 2012, and she obviously has plenty of capital with Republicans. But not an auspicious start.
Are we to accept in an aspirant to the Oval Office cutting short her tour of duty in the Alaska statehouse?
JOHANNESBURG--During halftime at tonight's Confed Cup, with the U.S. miraculously up two-nothing over Brazil, I went to go gloat to a British friend over a beer at one of the stadium's Budweiser stands. "I'm feeling triumphalist again!" I told him, raising my American flag over my head.
"It's halftime," he warned. "Don't have a 'Mission Accomplished' moment." | via |
Nixon saw interracial pregnancy as grounds for abortion
A remarkable bit of history from Charlie Savage, who is listening to newly released Nixon tapes:Nixon worried that greater access to abortions would foster “permissiveness” and said that “it breaks the family.” But he also saw a need for abortion in some cases, such as interracial pregnancies.
“There are times when an abortion is necessary. I know that. When you have a black and a white,” he told an aide, before adding: “Or a rape.”
Barack Obama was 11 at the time.
We parked along Medill and hopped out. It was a Puerto Rican neighborhood. On the south side of the street, an outdoor birthday fiesta was convening, and some of the participants eyed us three honkeys questioningly. Now at this point I had no fricking clue how we would find the phone; did I think I'd find it under a bush? I certainly didn't plan to go door-to-door, nor did I expect the cops to regard a blue circle around the entire block as sufficient cause for a search warrant. I sent a third message to the phone that I'd been formulating in my head: "We have tracked the phone to Medill St. and are locating it. Please call 512-796-xxxx to help us and claim a reward." Short version: WE KNOW WHERE YOU ARE.
A new frontier for the invasion of personal privacy, drumroll, please: the City of Bozeman, Montana wants access to job seeker's Facebook accounts. This local government employer asks those soliciting positions with the city to supply a list of social networking sites they frequent, as well as log–in details and passwords as part of a comprehensive background check. | the guardian, via chat from my sister |
I think such explanations are especially popular in times of rampant uncertainty, which is where we are now. After all, if we understand the movement of the financial markets then we have a modicum of control - we know when to buy and sell - and people love control. In one classic 1975 study led by Ellen Langer, male undergrads at Yale were asked to predict the results of coin tosses, a cliched example of a random event. Nevertheless, a significant number of the men believed that their performance improved through practice - they got better at calling heads or tails - and that distraction would detract from their performance. How did they justify this wishful thinking? As Langer notes, the men engaged in some sly cognitive filtering and consistently "overremembered past successes".
Is Wall Street any different? The market, after all, is a classic example of a "random walk," since the past movement of any particular stock cannot be used to predict its future movement. Given this inherent stochasticity, it's silly to attempt to explain the daily movement of the market: such an endeavor is like analyzing a series of flipped coins, or trying to explain the payout patterns of a slot machine. We can construct theories - and some of these theories might even sound intelligent - but they're ultimately futile attempts to stave off the flux.
What's even more disturbing is that such errant explanations might actually cost us money, since they lead, inevitably, to over-confidence. (Those Yale undergrads vastly overestimated their ability to predict coin flips.) We become so convinced that the logical-sounding explanations are true that we forget we're dealing with a random, inherently unpredictable system. The end result is too much trading.
An Iowa man was convicted of possessing child pornography last week because some of the books in his vast collection of Japanese manga (comics) appeared to depict minors engaged in sexual acts
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39-year-old Christopher Handley, an office worker, was brought up on charges of possessing child pornography in 2006 when customs officials seized a package for him. It contained several manga, some of which were "lolicon" that showed what officials said were children being sexually abused. There were also images of bestiality. Handley has a huge collection of manga, and only a few are lolicon. He also had absolutely no child pornography of any description in his house or on his computer.
Nevertheless, Handley entered a guilty plea. According to Threat Level, it was simply because his attorney had exhausted all other options:"It's probably the only law I'm aware of, if a client shows me a book or magazine or movie, and asks me if this image is illegal, I can't tell them," says Eric Chase, Handley's attorney.
It is a duty not a right to break an unjust law.
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The only way to find pirates is to monitor all peoples communication.
The only way to stop piracy is to deprive people of all communication.
Either someone can own a message and stop others form saying it, or we have freedom of speech.
These are the stakes. Don't think it is about someone getting payed. The financial well being of me and all the artists I love is insignificant, compared to the basic rights of a human being. Supporting artists is one thing, stopping people form exercising their rights like freedom of speech or taking away peoples right to privacy is another.
I used to think that supporting artists was the right thing to do. Now I'm asking, do I longer want to financially support organizations who use my money to lobby governments and courts to take away my basic rights and freedoms? [Have they] made it morally wrong for me to pay, in their quest to force me to pay?
The Daily Show With Jon Stewart | M - Th 11p / 10c | |||
Imaginary Black on White Crime | ||||
thedailyshow.com | ||||
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"Just the place for a Snark!" the Bellman cried,
As he landed his crew with care;
Supporting each man on the top of the tide
By a finger entwined in his hair.
"Just the place for a Snark! I have said it twice:
That alone should encourage the crew.
Just the place for a Snark! I have said it thrice:
What I tell you three times is true."