Thursday, January 16, 2014

Roll over risk


Treasury Secretary Jack Lew called on Congress Thursday to move soon to raise the nation's debt ceiling to ward off any risk of a U.S. default, saying the crunch will come by the end of next month.
The nation's borrowing limit is suspended until Feb. 7. After that, unless Congress has authorized an increase or has chosen to extend the suspension, the Treasury Department will have to deploy special accounting maneuvers to continue to pay all the country's bills in full and on time.

Originally Lew had estimated that those "extraordinary measures" could last until sometime between the end of February and early March.
But on Thursday, in a public interview at the Council on Foreign Relations, Lew said he now believes it's most likely he'll run out of wiggle room by the end of February.

Congress will be unable to pay the interest costs under any growth scenario.

Wednesday, January 15, 2014

Citizens fight the Meth cartel


Calm after the storm: Tender moment between Mexican vigilante and girlfriend as fighters vow NEVER to give up the fight against Knights Templar cartel

  • Mexico's government has pledged to take control of a violent western state after days of fighting between masked vigilantes and members of one of the country's most powerful drug cartels
  • Vigilante groups in the state of Michoacan have moved deeper into territory controlled by the Knights Templar cartel
  • Interior Minister Miguel Angel Osorio Chong urged the vigilante groups to withdraw from the battleground so federal forces could take control
  • The government appeared to tolerate the so-called self-defense groups, apparently in the hope they could oust the cartel and help restore order
  • More than 100 vigilantes stormed the town of Paracuaro at the weekend in an attempt to reclaim the city
This is why I have become pacifist, I approve of citizen revolts against the meth cartel, the meth cartel is one nasty breed of zombie. Once I start supporting violence in one context, it is hard to refrain in another, like fighting back against the murderous Orange County Nazi Police.
Which reminds me, how is the Tea party doing in Orange County? Are they defending the citizens from these police thugs? We have had, and may continue to see, similar problems here in Fresno.

Getting the NYU Stern School of Business reschooled

Tom Cooley and Kim Schoenholtz, professors at NYU Stern School of Business missed the secstag memo. They quote Ben in 2002:
The best strategy is to prevent deflation from getting started in the first place. But what can a central bank do if deflation has set in and the policy interest rate has sunk to zero? Bernanke cited four approaches: (1) expand the balance sheet through loans or open-market purchases of assets; (2) lower long-term yields by committing to keep short-term interest rates low or by announcing a cap on government bond yields backed by unlimited willingness to purchase securities; (3) pursue monetary expansion in cooperation with fiscal stimulus; and (4) currency devaluation.
My recent chart showing nominal gdp going down as debt to gdp ratio goes up. Why? Because Ben's strategy causes increased borrowing by government, and somehow more government debt associates with less growth, not more. And what do you know, Ben followed his own strategy, debt to gdp went up and growth went down. Waddya know!

Tuesday, January 14, 2014

Orange County Cops murder homeless man, full video

Evidently Orange County police assholes beat homeless people to death for no reason, film it and then get a local jury to acquit. I suggest we boycott Orange County and anything down there.

How the Kelly Thomas Killing Sparked a Citizen Revolt
The surveillance tape caught the horrifying confrontation in vivid detail. We see a large officer named Manuel Ramos approach the scraggly Thomas, who is suspected of breaking into some cars. Thomas gives him some lip, but doesn’t act in a threatening way. Ramos then puts on what the district attorney calls a “show” as he slowly slips on latex gloves, twirls his baton and then says, “[S]ee my fists ... these fists are going to f... you up.”

Some claim Orange County is a Tea party country. I will find out, then I will find out if the Tea party is going to do anything about this crap.

Yes, here we go, the Orange County California Tea Party, the city where cops murder innocent people. The Tea Party will  stop  the bullshit right away? Lets check the web site periodically and watch the Tea Party of Orange County put an end to murderous nazi police activity. If not, I will hound them as socialist nazis.

Robots collaborate to help dimwitted engineers

Telegraph: The first demonstration of a “World Wide Web for robots” that allows machines to share information and learn from each other will take place this week in the Netherlands.
Cloud-based RoboEarth aims to help robots benefit from the experience of other machines. For instance, if one robot has spent time developing an accurate map of a room it can upload the data so another machine entering it for the first time has a navigational head start.

Passing around JSON expression graphs and joining them with Match, Pass Collect and/or Replace operations.

Islamic nutcases are not popular


Syria says West talks to Damascus about Islamist rebels

BBC:
Western intelligence agencies have visited Damascus for talks on combating radical Islamist groups, Syria's deputy foreign minister has told the BBC.
Faisal Mekdad said there was a schism between Western security officials and politicians who are pressing President Bashar al-Assad to step down.
The growth of jihadist groups among rebels fighting President Assad has caused international concern.

Fine and dandy except the Eastern end of the alliance still belongs to cowardly Iranian Mullahs psychotic dudes.

Jerry and the Unions have a legal problem with pension payments

Sacramento owes about 4.5 billion a year in pension payments.  Jerry and the teachers want to skip the payments, instead spending that money on salaries today. That is a known fact among current bankruptcy judges.  When the next city files for relief from pension payments, the judge will remember the dead beat politicians and immediately give relief to the city.

Los políticos en Sacramento quieren saltarse sus pagos de pensión a los fondos de los maestros, entonces la clase media más tarde, en California la cuenta para los pagos perdidos.

Government debt slows nominal GDP growth

Well, that is a surprise.  Nominal GDP is the orange, debt to GDP is the red. The red rises the orange drops. Long term trend of nominal GDP, down, long term trend of debt to gdp, up.

Deranged Muhammed nutcase refuses to shave

Captured by American GIs in Afghanistan he was charged with failure to shave and sent to CIA waterboarding school. From his prison cell, Mohammed Shake Alot released a revolutionary manifesto urging all moral beings to desist from shaving and limit bathing to once a week. The American military command reiterated the war policy; "We will continue our war against unclean, unshaven swarthy Mohammeds."

Selenium poisoning in West Virginia and California

Wiki: Selenium is a chemical element with symbol Se and atomic number 34. It is a nonmetal with properties that are intermediate between those of its periodic table column-adjacent chalcogen elements sulfur and tellurium. It rarely occurs in its elemental state in nature, or as pure ore compounds. Selenium (Greek σελήνη selene meaning "Moon") was discovered in 1817 by Jöns Jacob Berzelius, who noted the similarity of the new element to the previously known tellurium (named for the Earth). Selenium is found impurely in metal sulfide ores, where it partially replaces the sulfur. Commercially, selenium is produced as a byproduct in the refining of these ores, most often during copper production. Minerals that are pure selenide or selenate compounds are known, but are rare. The chief commercial uses for selenium today are in glassmaking and in pigments. Selenium is a semiconductor and is used in photocells. Uses in electronics, once important, have been mostly supplanted by silicon semiconductor devices. Selenium continues to be used in a few types of DC power surge protectors, baby formula, and one type of fluorescent quantum dot.

Why do I care about selenium? Because the topic is going to come up with respect to mountaintop coal mining in West Virginia. Hence, before the hysteria gets to strong, we should know a few things about it. In West Virginia, selenium drains into streams from coal mining, and kills a lot of fish. Consider the following toxic substance:
Polychlorinated biphenyls (PCBs) were widely used as dielectric and coolant fluids, for example in transformers, capacitors, and electric motors. Due to PCBs' environmental toxicity and classification as a persistent organic pollutant, PCB production was banned by the United States Congress in 1979 and by the Stockholm Convention on Persistent Organic Pollutants in 2001.[1] According to the U.S. Environmental Protection Agency (EPA), PCBs have been shown to cause cancer in animals, and there is also evidence that they can cause cancer in humans.[2]

Now pcbs are very bad indeed, a much small concentration and humans get cancer. PCB is a manmade combination of a petrochemical, benzene and chlorine. Now pcbs have been spilled, misused and have caused great harm. The chemical that Freedom industries spilled in West Virginia is likely nasty stuff, it is also a manmade organic compound, a solvent designed to clean coal. It spilled from a storage tank and Freedom industries will likely go bankrupt as a result.

Here is what you need to know. Large concentrations of selenium in fresh water makes selenium water in which fresh water fish cannot survive. But fresh water fish also are poisoned by salt water run off. Fresh water fish do not survive in the great Salt Lake of Utah. But selenium, like salt, is naturally occurring and generally harmless, like salt. So when the debate about selenium pollution begins remember, this is more a water cleanliness problem and less a real toxic issue.

The main problem in West Virginia, the one I would object to, is the back filling and damning of streams as a way to dispense excess dirt and rock from coal mining.  I would like to see that stopped first, and worry the selenium second.