Economy
Related: About this forumWEE Will Always Have Paris! November 20-22, 2015
The Threadmaker (me) is bushed. This has been a week of exhaustion, for some reason.But not to worry! No matter how awful it gets, we'll always have Paris!
War has a way of serving as the Waring blendor(tm) of lives....mixed, chopped, pureed, crushed. Nobody (well, maybe the war profiteers) gets out of War unchanged, and not changed for the better, either.
In Casablanca, that classic tale of "the problems of three little people (that) don't amount to a hill of beans in this crazy world" Paris was Rick and Isla's safe haven, the golden memory to warm many a cold and lonely night. But now, today, Paris is the nightmare, torn apart by violence by the people Paris took in for charity's sake.
Let's take a review of Paris: the good, the bad, the ugly, the past, present, and maybe even the future. Because we have to have Paris, to have a West. We need all the accomplishments of our civilization to get us through a bunch of long, cold and lonely nights.
https://upload.wikimedia.org/wikipedia/commons/e/e7/1932_Robelin_Map_of_Paris,_France_w-Monuments_-_Geographicus_-_ParisMonumental-robelin-1932_cropped.jpg
PARIS: 1932
Demeter
(85,373 posts)Demeter
(85,373 posts)Friday nights attacks on Paris reportedly occurred at multiple sites across the city, including those shown in the map above.
Le Stade de France
Built for the 1998 World Cup, the Stade de France is Frances largest stadium, a huge venue seating more than 80,000 that dominates the Saint Denis Quarter. The location itself is just outside Paris Proper beyond the Boulevard Périphérique Beltway, in a lightly populated quarter dominated by major roads. In contrast to the other attack locations closer to central Paris, the commune of Saint Denis is a relatively low-income area where over 35 percent of residents were not born in France.
Le Bataclan
Le Bataclan is an old 19th-century variety theatre that in recent years has been run as a rock venue. Its located on the boundary between two hip, densely populated neighborhoods full of bars, restaurants, and cafés that would likely have been very busy at the time of the attack. An eyewitness who escaped from the venue had this to say to Le Monde:
I was at the show around 9.30, 9.40, when two or three peopletwo for surecame in and started shooting blindly with automatic weapons, with a Kalashnikov that lasted at least ten, fifteen minutes. They reloaded, they had the time they needed. They reloaded three or four times and that lasted at least 10 minutes at one moment we took refuge behind the stage, we were blocked, and when the shots stopped we took advantage of the respite to take the emergency exit, and we saw lots of people in the street who were covered in blood, who had gunshot wounds.
Le Carillon / Le Petit Cambodge
Le Carillon and Le Petit Cambodge are a café-bar and a Cambodian restaurant, respectively, that are located directly opposite one of the citys oldest hospitals, the Hôpital Saint-Louis. These arent especially fancy or controversial places in themselves. Theyre fairly typical of the area around the Canal Saint Martin, a traditionally working class area of Paris that has become fashionable in recent decades. A witness who arrived at Le Petit Cambodge just after the attack gave the following statement to Le Monde:
I was on my scooter with friends when I arrived. There were people on the ground, and I thought a car had driven into the Petit Cambodge Restaurant, because the window was smashed in. I didn't understand what had happened. There were lots of people on the ground, loads I'd say, from memory, a good 40. There were four or five people standing, no more I didn't actually see blood. The Fire Service arrived fast, but it was very calm, that struck me. I think there were Anglo-Saxons there because one slightly dazed girl said gunshot, gunshot to me.
La Casa Nostra
Just around the corner from the Petit Cambodge, customers in the Casa Nostra pizzeria on the Rue de la Fontaine au Roi were fired on as they ate on the restaurants terrace. A witness at the scene had this to say about the attacker to The Guardian:
He had his right leg forward and he was standing with his left leg back. He was holding up to his left shoulder a long automatic machine gun. It was fully intentional, professional bursts of three or four shots. Everything he was wearing was tight, no zippers or collars. Everything was toned black. A man in military uniform, black jumper, black trousers, black shoes or boots and a machine-gun.
La Belle Équipe
The Belle Équipe brasserie is located on one of the busier café and restaurant strips of Eastern Paris. Rue Charonne is one of the main streets in the Bastille neighborhood, an area now almost equally as popular with visitors as with locals. The brasserie itself is a moderately upscale place typical of its area; according to this article with photos, it was set up and run by three women. Le Monde has this from a resident living nearby:
I heard detonations and went to the window. I have a direct view of the café. I saw a man getting out of a car and firing on the terrace, by guesswork. He shot many times, in gusts. I heard cries. Then the man got back in his car and left, just like that.
Demeter
(85,373 posts)Recent terrorist attacks in Paris and the downing of a Russian passenger jet have focused the Wests attention on the Islamic States civilian toll outside Iraq and Syria.
Attacks linked to ISIS targeting civilians in 2015, outside Iraq and Syria Circles represent number of deaths
But the Islamic State, also known as ISIS or ISIL, has a history of attacking mosques, hotels, busy city streets and other civilian targets in mostly non-Western countries. If the Islamic State is responsible for the Paris killings and the explosion of the Russian plane, as officials on both sides of the Atlantic seem to believe, the civilian death toll outside Iraq and Syria would rise to nearly 1,000 since January.
It would also signify a major leap in the groups ability to direct attacks on the West.
Until now, the Islamic State has relied mainly on lone wolf followers to strike Western targets with relatively low-tech assaults shootings, the taking of hostages, hit-and-runs that draw wide attention but do not cause mass casualties.
This is much different than a normal lone wolf-inspired attack, Patrick M. Skinner, a former C.I.A. operations officer now with the Soufan Group, a security consultancy, said about the Paris attacks. This was choreographed.
The fact that they could do this, especially in Paris, where the intelligence service is really good, clearly theres a hole somewhere, Mr. Skinner said.
UNFORTUNATELY, THE GRAPHICS ARE NOT LINKABLE...GO TO LINK
MORE ABOUT ISIS AT LINK
Demeter
(85,373 posts)https://www.washingtonpost.com/national/health-science/hhs-proposes-more-consumer-friendly-rules-for-aca-health-plans/2015/11/20/05658afc-8fd3-11e5-baf4-bdf37355da0c_story.html
Federal health officials Friday proposed changes to the rules for health coverage sold through insurance exchanges, including a possible floor for how many doctors and other providers each plan must include.
The rules are intended to make it easier for consumers to compare their options in the marketplaces created under the Affordable Care Act. They would define standard deductibles and co-payments, and allow insurers to sell plans with that specific benefit design.
The proposals, released by the Health and Human Services Department, come as the third enrollment season is underway in the federal and state exchanges for people choosing coverage for the coming year. The draft rules, an annual ACA ritual, will begin a debate about what guidelines insurers will have to follow to sell exchange policies for 2017. Most of the changes would move those health plans in the direction of greater regulation and more consumer protections...
NO MATTER HOW MUCH LIPSTICK IS USED, IT'S STILL A PIG
antigop
(12,778 posts)Last edited Sat Nov 21, 2015, 03:07 PM - Edit history (1)
Not shouting at you, Demeter. I'm shouting at those who consider us "consumers" of health care.
I am a person who deserves health care as a human right.
This whole "consumer-driven" health care is an attack on human dignity.
I am not a "consumer" of health care. I am a HUMAN BEING.
Demeter
(85,373 posts)The US Bureau of Labor Statistics just released its monthly estimates of unemployment rates in all 50 US states and the District of Columbia, and things are looking pretty good.
The bureau noted that unemployment rates fell in 32 states and Washington, DC, went up in just three states, and stayed the same as September in 15 states. Unemployment in every state and DC was below 7%, indicating increasingly healthy labor markets across the nation.
The Bank of Tokyo-Mitsubishi's chief financial economist, Chris Rupkey, circulated an email after the report with the title "Jobs market is literally on fire in most states in the union." The email maintains that optimistic tone and suggests that the geographically broad strength of the labor market could spur the Fed to tighten monetary policy at its December meeting:
This regional breakdown is just the latest evidence that the economy has reached full employment. Coast to coast from sea to shining sea, the labor market has fully healed. At full employment the Fed can be confident that inflation will eventually move up to their 2% target ... Once again, another day, another report from Washington showing us the economy is better than many think. The state-by-state employment trend is just the evidence the Fed needs to assure them that it is time to lift rates.
Here's the map showing the unemployment rates in each state and DC:
http://l.yimg.com/bt/api/res/1.2/8mmQkeritfdo6JhkGT7XSw--/YXBwaWQ9eW5ld3NfbGVnbztxPTg1/http://globalfinance.zenfs.com/en_us/Finance/US_AFTP_SILICONALLEY_H_LIVE/ECONOMIST_Jobs_market_is_literally-a915401546d6a66ca558965710838cdf
Demeter
(85,373 posts)Volkswagen's emissions cheating scandal widened Friday after the U.S. Environmental Protection Agency said the German automaker used software to cheat on pollution tests on more six-cylinder diesel vehicles than originally thought.
Volkswagen told the EPA and the California Air Resources Board the software is on about 85,000 Volkswagen, Audi and Porsche vehicles with 3-liter engines going back to the 2009 model year. Earlier this month the regulators accused VW of installing the so-called "defeat device" software on about 10,000 cars from the 2014 through 2016 model years, in violation of the Clean Air Act.
The regulators said in a statement they will investigate and take appropriate action on the software, which they claim allowed the six-cylinder diesels to emit fewer pollutants during tests than in real-world driving...
Demeter
(85,373 posts)G'night, all!
hamerfan
(1,404 posts)MattSh
(3,714 posts)It will probably be damned good for me...
MattSh
(3,714 posts)so that's a def plus.
Normally I would be getting ready for Thanksgiving right about now, but have decided to put off our big event of the year until my birthday, next month. So hopefully I can hold it here for a while.
Demeter
(85,373 posts)MattSh
(3,714 posts)I really need to be ratching down that stress stuff.
Demeter
(85,373 posts)Two reasons:
1) so much about Paris repulses me, or at least, doesn't attract, starting with the culture. From all I've read and heard about it, there's nothing I want to see in person, not even the Eiffel Tower or the Mona Lisa, of which there's a copy in the Prado which was good enough for me. Evidently, da Vinci didn't know how to paint something only once...
2) I'm afraid Paris would never live up to the hype. So many things don't. NYC did, Stockholm did, London did, Madrid did...but Paris? I have doubts.
And if I were disappointed in Paris, I wouldn't have it, would I?
Demeter
(85,373 posts)The capital and most-populous city of France is situated on the Seine River, in the north of the country, it is in the centre of the Île-de-France region, also known as the région parisienne, "Paris Region". The City of Paris has an area of 105.4 square kilometres (40.7 square miles) and had a population of 2,241,346 within its city limits in 2014. The Paris Region covers 12,012 square kilometres (4,638 square miles), and has its own regional council and president. It had a population of 12,005,077 as of January 2014, or 18.2 percent of the population of France.
Paris was founded by a Celtic people called the Parisii, a sub-tribe of the Celtic Senones which inhabited the Paris area from around the middle of the 3rd century BC and who gave the city its name. One of the area's major north-south trade routes crossed the Seine on the île de la Cité; this meeting place of land and water trade routes gradually became a town and an important trading centre. The Parisii traded with many river towns as far away as the Iberian Peninsula, and minted their own coins for that purpose. By the 12th century, Paris was the largest city in the western world, a prosperous trading centre, and the home of the University of Paris, one of the first in Europe. In the 18th century, it was the centre stage for the French Revolution, and became an important centre of finance, commerce, fashion, science, and the arts, a position it still retains today.
The Paris Region had a GDP of 624 billion (US $687 billion) in 2012, accounting for 30.0 percent of the GDP of France, and ranking it as one of the wealthiest five regions in Europe; it is the banking and financial centre of France, and contains the headquarters of 29 of the 31 companies in France ranked in the 2015 Fortune Global 500.
Paris is the home of the most visited art museum in the world, the Louvre, as well as the Musée d'Orsay, noted for its collection of French Impressionist art, and the Musée National d'Art Moderne, a museum of modern and contemporary art. The notable architectural landmarks of Paris include Notre Dame Cathedral (12th century); the Sainte-Chapelle (13th century); the Eiffel Tower (1889); and the Basilica of Sacré-Cur on Montmartre (1914). In 2014 Paris received 22.4 million visitors, making it one of the world's top tourist destinations. Paris is also known for its fashion, particularly the twice-yearly Paris Fashion Week, and for its haute cuisine, and three-star restaurants. Most of France's major universities and grandes écoles are located in Paris, as are France's major newspapers, including Le Monde, Le Figaro, and Libération.
Paris is often referred to as "The City of Light" (La Ville Lumière), both because of its leading role during the Age of Enlightenment, and more literally because Paris was one of the first European cities to adopt gas street lighting. In the 1860s, the boulevards and streets of Paris were illuminated by 56,000 gas lamps.
Since the late 19th century, Paris is also known as Panam(e) (pronounced: panam) in French slang. Inhabitants are known in English as "Parisians" and in French as Parisiens, pejoratively also called Parigots.
ROMAN EMPIRE CONQUEST
The Romans conquered the Paris basin in 52 BC and, after making the island a garrison camp, began extending their settlement in a more permanent way to Paris's Left Bank. The Romans built their city on the left bank because it was of higher elevation and less prone to flood; the forum was located on a hill about sixty meters high, later called Montagne Sainte-Geneviève after the patron saint of the city. The Gallo-Roman town was originally called Lutetia (more fully, Lutetia Parisiorum, "Lutetia of the Parisii" . It became a prosperous city with a forum, baths, temples, theatres, and an amphitheatre. (In the early Middle Ages the hill became the site two important monasteries, the Abbey of Saint-Victor and the Abbey of St Genevieve, while another large and prosperous monastery, the Abbey of Saint-Germain-des-Prés, was built in the fields along the Seine farther west. In the Middle Ages, the monasteries attracted thousands of scholars and students, who formed colleges, which, in the beginning of the 13th century, became the University of Paris.)
CONQUERED BY VATICAN
By the end of the Western Roman Empire, the town was known simply as Parisius in Latin and Paris in French. Christianity was introduced in the middle of the 3rd century AD. According to tradition, it was brought by Saint Denis, the first Bishop of Paris in about 250 AD. When he refused to renounce his faith, he was beheaded on the hill which became known as the "Mountain of Martyrs" (Mons Martyrum), eventually "Montmartre". His burial place became an important religious shrine; the Basilica of Saint-Denis was built there and became the burial place of the French Kings.
CONQUERED BY FRANKS
Clovis the Frank, the first king of the Merovingian dynasty, made the city his capital from 508. Fortification of the Île-de-France failed to prevent sacking by Vikings in 845 but Paris's strategic importancewith its bridges preventing ships from passingwas established by successful defence in the Siege of Paris (88586). In 987 Hugh Capet, Count of Paris (comte de Paris), Duke of the Franks (duc des Francs) was elected King of the Franks (roi des Franks). Under the rule of the Capetian kings, Paris gradually became the largest and most prosperous city in France.
The city was attacked by the Huns in the 5th century and Vikings in the 9th century.
Paris in the Middle Ages
In the 10th century Paris was a provincial cathedral city, and controlled little more than the surrounding region; but under the Kings of the Capetian dynasty, it developed into an important commercial and religious center and the seat of the royal administration of France.
The Île de la Cité became the site of the royal palace, and the new cathedral of Notre-Dame and its famous cathedral school begun in 1163 on the site a Roman temple to Jupiter; stones from the Roman temple were found beneath the choir of Notre Dame when the choir was renovated in 1711, and are now on display in the Cluny Museum. Twelve stones from the seats of the ancient Roman amphitheater were found in the foundations of the church. The church was not finished until the reign of Philip IV in 1330, almost 170 years after it was begun. It was the largest monument in Paris, 125 meters long, with towers 63 meters high, and seats for 1300 worshippers.
The School of Notre Dame became famous throughout Europe; it produced seven Popes and twenty-nine Cardinals; the future Louis VII studied there, as did the nephews of Pope Alexander III. The teachers included Pierre Abelard, Maurice de Sully, Pierre Lombard, Saint Dominic and Saint Bonaventure. It was the dominant school in Paris until the late 12th century, when it began to be eclipsed by the new colleges established around the monasteries on the left bank, which were not under the authority of the Bishop of Paris, but directly under the Pope. In this way the School of Notre Dame was the ancestor of the University of Paris, when it was chartered in about 1200.
The Left Bank was occupied by important monasteries, including the Abbey of Saint-Germain-des-Prés and the Abbey of St Genevieve. In the late 12th century, the collection of colleges on the left bank became one of the leading universities in Europe.
The Right Bank, where the ports, central markets, artisans and merchants were located, became the commercial center of the city, and the merchants assumed an important role in running the city. The right bank was swampy but it was also the best place for landing boats. The gravel beach where the Hôtel de Ville is today became the port and the commercial center of the city, where the central market was located.
Paris became a center for the creation of illuminated manuscripts, and the birthplace of Gothic Architecture. Despite civil wars, the plague, and foreign occupation, Paris remained through the Middle Ages the largest city in the western world.
https://en.wikipedia.org/wiki/Paris_in_the_Middle_Ages
https://en.wikipedia.org/wiki/Paris
Demeter
(85,373 posts)Watch for a Worldwide Recession
Ruchir Sharma, head of emerging markets equity and global macro, Morgan Stanley Investment Management
We are now just one big shock away from a global downturn, and the next one seems most likely to originate in China, where heavy debt, excessive investment, and population decline are combining to undermine growth, while relatively low-debt countries from Eastern Europe to South Asia look better positioned to weather the inevitable next turn in the cycle.
Fixed Income Faces a Rocky Road
Dan Fuss, vice chairman at Loomis Sayles & Co. and coportfolio manager of the $20 billion Loomis Sayles Bond Fund
Yields on the benchmark 10-year Treasury note will likely rise to 2.6 percent to 2.8 percent by the end of 2016, Fuss says, although he cautions that the current geopolitical turmoil makes forecasting especially difficult. For investors with a bond portfolio in these rocky times, Fuss recommends a mix of Treasuries, investment-grade corporates (with maturities of five to 12 years), and high-yield debt has the best chance of success in 2016. And youll need to be especially picky when it comes to high-yield bonds instead of relying on an index fund, he says. Its quite clear that high yield has the best value relative to stocks, but theres a lot more scatter there.
Know Which Equities to Watch
Thomas J. Lee, managing partner at Fundstrat Global Advisors
Equities are going to do really well in 2016, especially banks and blue-chip businesses. Banks will benefit from the Fed tightening and will boost their returns on equity as the economy expands. And when you look at blue chips, theyre going to have the ability to generate stronger returns as the economy picks up.
The EU Faces Its Biggest Challenge Yet
Rebecca Patterson, chief investment officer of Bessemer Trust, which oversees more than $100 billion in assets
The biggest risk for Europe in the year? "It's the refugee crisis," says Patterson. "I think it's the biggest challenge to the European Union yet. The horrible terrorist attacks in Paris increased the risk that the refugee crisis could result in a political and/or policy shift, or simply lead consumers to change their spending patterns. Either could weigh on sentiment around European growth and corporate profits." Patterson is on alert for any such changes but remains overweight European equities and positioned for a weaker Euro, she says. "The Paris attacks sadly shone a light on the European refugee crisis; I assume more investors globally now are thinking more about what millions of immigrants can mean for an economy and respective markets. However, I am still not sure that investors globally have adequately thought through what market spillovers the European refugee crisis could trigger over the coming year."
Expect a Lift
Jim Caron, a managing director at Morgan Stanley Investment Management
I believe inflation risk premia will return to the markets. This should provide upward lift for 30-year Treasury yields, possibly toward 3.75 percent. The markets may also be surprised by how slowly the Fed hikes rates in the face of what we think will be an improving economic climate.
MORE AT LINK...
Demeter
(85,373 posts)BECAUSE ONE CAME LOOSE...OR WASN'T PROPERLY INSTALLED...
http://www.bloomberg.com/news/articles/2015-11-20/tesla-to-recall-90-000-model-s-cars-to-check-front-seat-belts
Demeter
(85,373 posts)I will have to change the wreath of autumn leaves on my door to something more seasonal...good thing the real leaves got raked, and that I brought in the snap dragons...odds are that some of them will survive the transplant and climate shock. I planted them in the smaller rose tree's pot. It's going to bloom again. Bud production is down...I'm going to add fertilizer to the pots. New leaves still breaking forth, but not as fast, either. I'm such a slave driver to my plants! I'm going to try salad greens in the other rose tree's pot.
It's movie time, for the Kid. We are going to see the new James Bond...with a new James Bond.
One has to admire Sean Connery's stamina, to have survived so many. Seems like they can't hold onto an actor for more than two or three, and the films don't come out like clockwork, either. I have to admit that Skyfall was a good one, although I hated the Bond actor...not the usual slick action flick, more Gothic, more British, somehow. Anyway, I'll bring back a review.
Meanwhile, get posting! (I know, it's hard to find anything but war and politics, but there is an underlying economic river there somewhere. Someone has to notice it).
I just rode the motorcycle to a meeting. Gonna have rain later, and temps might dip into the mid 60's this week, but forecast is 81 for turkey day.
Demeter
(85,373 posts)Thanks to marmar, who posted first
This is an actual accessible economics lesson for the great un-expert populace
antigop
(12,778 posts)The foundation refiled its Form 990 tax returns for 2010, 2011, 2012 and 2013, while the Clinton Health Access Initiative refiled its returns for 2012 and 2013 after Reuters discovered errors in the forms earlier this year.
The charities said they were not legally required to refile the forms and were only doing so in the interest of transparency following what the foundation's president, Donna Shalala, called an "exhaustive review."
...
Her critics, especially political rivals in the Republican Party, have said the charities' reliance on millions of dollars from foreign governments creates conflicts of interests for a would-be U.S. president. They have also criticized the charities' admitted failure to comply with an ethics agreement Clinton signed with Barack Obama's incoming presidential administration in 2008 in order for her to become secretary of state.
And there's this from Harpers:
http://harpers.org/blog/2015/11/shaky-foundations/
Journalists are going to be scouring through this new financial information and pumping out balanced stories that evade what is already evident, namely that the Clintons have used their foundation for crass profiteering and influence peddling.
If the Justice Department and law enforcement agencies do their jobs, the foundation will be closed and its current and past trustees, who include Bill, Hillary, and Chelsea Clinton, will be indicted. Thats because their so-called charitable enterprise has served as a vehicle to launder money and to enrich Clinton family friends.
It is beyond dispute that former President Clinton has been directly involved in helping foundation donors and his personal cronies get rich. Even worse, it is beyond dispute that these very same donors and the Clintons political allies have won the focused attention of presidential candidate Hillary Clinton when she served as Secretary of State. Democrats and Clinton apologists will write these accusations off as conspiracy mongering and right-wing propaganda, but its an open secret to anyone remotely familiar with accounting and regulatory requirements for charities that the financial records are deliberately misleading. And not coincidentally, those records were long filed by a Little Rockbased accounting firm called BKD, a regional auditor with little international experience.
Demeter
(85,373 posts)[Che:]
Eva's pretty hands reached out and they reached wide
Now you may feel it should have been a voluntary cause
But that's not the point my friends
When the money keeps rolling in, you don't ask how
Think of all the people guaranteed a good time now
Eva's called the hungry to her, open up the doors
Never been a fund like the Foundation Eva Peron
[Chorus:]
[Workers:]
Rollin' rollin' rollin', rollin' rollin' rollin'
Rollin' rollin' rollin', rollin' rollin' rollin'
Rollin' rollin' rollin', rollin' rollin' rollin'
Rollin' rollin' rollin', rollin' rollin' rollin'
Rollin' on in, rollin' on in
Rollin' on in, rollin' on in
On in
[Che:]
Would you like to try a college education?
Own your landlord's house, take the family on vacation?
Eva and her blessed fund can make your dreams come true
Here's all you have to do my friends
Write your name and your dream on a card or a pad or a ticket
Throw it high in the air and should our lady pick it
She will change your way of life for a week or even two
Name me anyone who cares as much as Eva Peron
[chorus]
Rollin' on out, rollin' on out
Rollin' on out, rollin' on out
On out
[Che:]
And the money kept rolling out in all directions
To the poor, to the weak, to the destitute of all complexions
Now cynics claim a little of the cash has gone astray
But that's not the point my friends
When the money keeps rolling out you don't keep books
You can tell you've done well by the happy grateful looks
Accountants only slow things down, figures get in the way
Never been a lady loved as much as Eva Peron
[chorus]
Rollin' on out, rollin' on out
Rollin' on out, rollin' on out
On out
[Che:]
Eva!!!
When the money keeps rolling out you don't keep books
You can tell you've done well by the happy grateful looks
Accountants only slow things down, figures get in the way
Never been a lady loved as much as Eva Peron
[chorus]
Rollin' on out, rollin' on out
Rollin' on out, rollin' on out
Rollin' on out, rollin' on out
On out
Too bad we don't have Lloyd Bentsen around anymore; I can hear him now:
antigop
(12,778 posts)antigop
(12,778 posts)Demeter
(85,373 posts)We headed out--late--for the cinema, after brushing off the car, and missed a couple of minutes of the opening scenario, which is a shame because it was spectacular! The film overall had a nostalgic feel to it, as the screenplay tried to wrap up all the loose ends (and maybe end the franchise?)
The special stunts were breath-taking, especially the daredevil helicopter flying. I truly didn't think helicopters could do things like that (and survive). The plot and the characters were not as rich or interesting as Skyfall, and there were the typical nods to tradition: an incredibly hot new car, a couple of bimbos, and Blofeldt, complete with white Persian cat, and some back story to fill in the gaps in this strange duet.
********************************************************
And after the show, the Kid discovered that she lost her gloves (this is a record for her, on the first day of snow) because she was too busy whining about concession stands to stick the gloves in her pockets. While I am trying to track them down, she's off stealing the candy. Fortunately the manager was able to slow her down and rescue the 3 lbs. she bagged to something a little less greedy...we never did find the gloves.
Then we went over to the farmer's market for apples for pie. Every stationary object, natural or man-made, was limned with the white stuff, very picturesque! Very slippery, too. I was glad to find out the anti-lock brake system works. After the farmer's market, we headed for the shoe store where they sell Canadian boots (at Canadian prices) since I really didn't have anything appropriate for work and was too sick all fall to go looking earlier. That accomplished, we went to do the usual snowstorm preparation: fill the gas tank, buy bread and milk. It was while we were doing this last that the snow REALLY started to fall.
Getting home was treacherous; we passed accident after accident. It was while creeping downhill not 2 miles from home that the car went into a total skid. We did 2.5 loops across four mercifully empty lanes, sliding downhill all the way. The Kid had no reaction (autism); I eventually got my hyperventilating under control, and we made it home. I shoveled out the driveway, parked the car, and called it a day.
And so, I have nothing to complain about. there's at least 6 inches now, and it can wait until tomorrow. Everything can wait.
DemReadingDU
(16,000 posts)and so fortunate to not encounter any vehicles skidding across those lanes. Very lucky!
We could get some snow flurries, and that is fine with me. Anything more, and I would hibernate until spring.
Demeter
(85,373 posts)I've only done that once before, on Route 95 outside Boston, in the middle of the night.
I'm going to go look for tires, tomorrow. The guy I trust said I had enough tread, but I have doubts...I'd hate to go snow tires, but....
Demeter
(85,373 posts)THIS REPORT IS BOTH COMPREHENSIVE AND REALLY, REALLY BAD NEWS. MUST READ.
antigop
(12,778 posts)Demeter
(85,373 posts)By Conn Hallinan, July 9, 2015
http://fpif.org/ripped-from-hillarys-emails-french-plot-to-overthrow-gaddafi-and-help-itself-to-libyas-oil/
French intelligence plotted to overthrow Muammar Gaddafi to horn in on Libyas oil and to provide access for French businesses...
The Congressional harrying of former U.S. Secretary of State Hillary Clinton over emails concerning the 2012 death of an American Ambassador and three staff members in Benghazi, Libya, has become a sort of running joke, with Republicans claiming cover-up and Democrats dismissing the whole matter as nothing more than election year politics. But there is indeed a story embedded in the emails, one that is deeply damning of American and French actions in the Libyan civil war, from secretly funding the revolt against Muammar Gaddafi, to the willingness to use journalism as a cover for covert action.
The latest round of emails came to light June 22 in a fit of Republican pique over Clintons prevarications concerning whether she solicited intelligence from her advisor, journalist and former aide to President Bill Clinton, Sidney Blumenthal...While the emails do raise questions about Hillary Clintons veracity, the real story is how French intelligence plotted to overthrow the Libyan leader in order to claim a hefty slice of Libyas oil production and favorable consideration for French businesses. The courier in this cynical undertaking was journalist and right-wing philosopher Bernard Henri-Levy, a man who has yet to see a civil war that he doesnt advocate intervening in, from Yugoslavia to Syria. According to Julian Pecquet, the U.S. congressional correspondent for the Turkish publication Al-Monitor, Henri-Levy claims he got French President Nicolas Sarkozy to back the Benghazi-based Libyan Transitional National Council that was quietly being funded by the General Directorate for External Security (DGSE), the French CIA. According to the memos, in return for money and support, the DGSE officers indicated that they expected the new government of Libya to favor French firms and national interests, particularly regarding the oil industry in Libya. The memo says that the two leaders of the Council, Mustafa Abdul Jalil and General Abdul Fatah Younis, accepted this offer.
Another May 5 email indicates that French humanitarian flights to Benghazi included officials of the French oil company TOTAL, and representatives of construction firms and defense contractors, who secretly met with Council members and then discreetly traveled by road to Egypt, protected by DGSE agents. Henri-Levy, an inveterate publicity hound, claims to have come up with this quid pro quo, business/regime change scheme, using his status as a journalist to provide cover for his activities. Given that journalists are routinely accused of being foreign agents in places like Iran, Saudi Arabia, Egypt, Syria and Afghanistan, Henri-Levys subterfuge endangers other members of the media trying to do their jobs.
All this clandestine maneuvering paid off. On Feb. 26, 2011, the UN Security Council unanimously passed Resolution 1970 aimed at establishing peace and security and protecting the civilian population in the Libyan civil war. Or at least that was how UNR 1970 was sold to countries on the Security Council, like South Africa, Brazil, India, China and Russia, that had initial doubts. However, the French, Americans and Britishalong with several NATO alliessaw the resolution as an opportunity to overthrow Qaddafi and in Frances case, to get back in the game as a force in the region. Almost before the ink was dry on the resolution, France, Britain and the U.S. began systematically bombing Qaddafis armed forces, ignoring pleas by the African Union to look for a peaceful way to resolve the civil war. According to one memo, President Sarkozy plans to have France lead the attacks on Qaddafi over an extended period of time and sees this situation as an opportunity for France to reassert itself as a military power.
While for France flexing its muscles was an important goal, Al- Monitor says that a September memo also shows that Sarkozy urged the Libyans to reserve 35 percent of their oil industry for French firmsTOTAL in particularwhen he traveled to Tripoli that month. In the end, Libya imploded and Paris has actually realized little in the way of oil, but Frances military industrial complex has done extraordinarily well in the aftermath of Qaddafis fall. According to Defense Minister Jean-Yves Lodrian, French arms sales increased 42 percent from 2012, bringing in $7 billion, and are expected to top almost $8 billion in 2014. Over the past decade, France, the former colonial masters of Lebanon, Syria, and Algeria, has been sidelined by U.S. and British arms sales to the Middle East. But the Libya war has turned that around. Since then, Paris has carefully courted Saudi Arabia, Qatar and the United Arab Emirates by taking a hard line on the Iran nuclear talks. The global security analyst group Stratfor noted in 2013, France could gain financially from the GCCs (Gulf Cooperation Council, the organization representing the oil monarchies of the Persian Gulf) frustrations over recent U.S. policy in the Middle East. Significant defense contracts worth tens of billions of dollars are up for grabs in the Gulf region, ranging from aircraft to warships to missile systems. France is predominantly competing with Britain and the United States for the contracts and is seeking to position itself as a key ally of Saudi Arabia, Qatar, and the United Arab Emirates (UAE) as it looks to strengthen its defense and industrial ties in the region. Sure enough, the French company Thales landed a $3.34 billion Saudi contract to upgrade the kingdoms missile system and France just sold 24 Rafale fighters to Qatar for $7 billion. Discussions are underway with the UAE concerning the Rafale, and France sold 24 of the fighters to Egypt for $5.8 billion. France has also built a military base in the UAE. French President Francois Hollande, along with his Foreign and Defense ministers, attended the recent GCC meeting, and, according to Hollande, there are 20 projects worth billions of dollars being discussed with Saudi Arabia. While he was in Qatar, Hollande gave a hard-line talk on Iran and guaranteed that France is there for its allies when it is called upon.
***********************************
France seems to have its finger in every Middle East disaster, although, to be fair, it is hardly alone. Britain and the U.S. also played major roles in the Libya war, and the Obama administration is deep into the ongoing wars in Syria and Yemen. In the latter case, Washington supplies the Saudis with weapons, targeting intelligence, and in-air refueling of its fighter-bombers.
But the collapse of Libya was a particularly catastrophic event, whichas the African Union accurately predictedsent a flood of arms and unrest into two continents.
The wars in Mali and Niger are a direct repercussion of Qaddafis fall, and the extremist Boko Haram in Nigeria appears to have benefited from the plundering of Libyan arms depots. Fighters and weapons from Libya have turned up in the ranks of the Islamic State in Syria and Iraq. And the gunmen who killed 22 museum visitors in Tunisia last March, and 38 tourists on a beach July 3, trained with extremists in Libya before carrying out their deadly attacks.
Clinton was aware of everything the French were up to and apparently had little objection to the cold-blooded cynicism behind Pariss policies in the region.
The news in the Benghazi emails, according to the New York Times, is that, after denying it, Clinton may indeed have solicited advice from Blumenthal. The story ends with a piece of petty gossip: Clinton wanted to take credit for Qaddafis fall, but the White House stole the limelight by announcing the Libyan leaders death first.
Thats all the news thats fit to print?
Fuddnik
(8,846 posts)They were in up to their necks in their former colony.
Wasn't there a Clinton involved in that too?
MattSh
(3,714 posts)Originally appeared in German at NEOPresse. Translated by Boris Jaruselski
First of all: my condolences and deep sympathy are with the victims and their loved ones of last Friday's attack.
Once again, innocent people had to die for a policy for which they are not responsible. At best, they could attempt to change it only with protest. Once again, innocent people have to suffer because they were put in harms way by political actors. These political actors have placed themselves behind protective walls and troops of bodyguards knowing fully well that they will never become victims of their own misanthropic policies.
After such events like the Paris attacks, the first question posted by political actors and the turbo-charged media is who the perpetrators are. As with other such events, both sides knew immediately who the perpetrators were. In this case it was the Islamic State. The turbo-charged media (almost) never asks the qui bono-question [Who benefits from this?]. The classic investigative approach of follow the money is also not pursued.
If Paris is another case of a false flag operation, or if it was conscientiously allowed to happen (something I personally believe, and that it was possibly supported by western intelligence services something which is only my personal assessment; Let it Happen on Purpose) everyone can determine for themselves with the following list (and this is only a small extract and terribly irritating when contrasted with the official reporting) which doesn't appear in the mainstream press:
Iraqi Intelligence Warned France of ISIS Attack Day Before Paris Assault
CONFIRMED: French Government Knew Extremists BEFORE Attack
Forty grenades, 180 detonators and plastic explosives stolen from French military base
Breaking: French and German Police Knew Paris Attack Was Coming a Month Prior
Paris Attacks: Multi-site Exercise planned for morning of Nov 13, 2015
Before Paris Terrorist Attacks, CIA Director Brennan Met With French Intelligence DGSE Chief Bernard Bajolet: Report
French Security Left Blind During November 13 Paris Terror Attacks
-----> http://russia-insider.com/en/qui-bono-who-benefits-paris-attacks/ri11318
MattSh
(3,714 posts)The university that taught generations of American leaders that their manifest destiny is to make war on uncivilized people around the world is having a bad time of it, now that the US has lost the last four straight; and the losers are streaming in for their take of the manifest. Streaming into Europe, that is, but not into Harvard University, nor the state of Massachusetts, nor the United States.
It was comical when Timothy Colton, Harvards professor of Russian studies, turned out, a year ago, to be paid by a branch of the Pentagon to spy on the body movements of President Vladimir Putin. It was laughable last week when the Harvard Centre of European Studies, financed by the Seagram businesses, engaged Radoslaw Sikorski, the ousted Polish foreign minister, to teach. The pursuit of Veritas, as in Harvards motto, is always exciting, the university quoted Sikorski as saying.
But now comes Professor Niall Ferguson, on Rupert Murdochs tab, to declaim that the reason for the terrorism which has stormed the boulevards and entertainments of Paris is that the French, and the European Union (EU), deserve it because they have let their guard down, inviting the barbarians in by complacency, secularism, and decadence. Like the Romans deserved the Visigoths and the Vandals, according to this Harvard version of the history of civilization, the Europeans deserve the uncannily similar processes destroying the European Union today.
Ferguson is titled the Laurence A. Tisch Professor of History. The Tisch endowment at Harvard which fills Fergusons pay packet came from the Loews conglomerate of New York; it made its money selling cigarettes (Kent, True), CBS media, insurance, hotels, and Bulova watches. Ferguson was appointed to his Harvard job after proclaiming that moderately successful as the British empire had been in the past, it was up to the US to do a better rather than worse job of policing an unruly world than their British predecessors
I believe the world needs an effective liberal empire and that the United States is the best candidate for the job. We Americans, the Harvard Gazette reported him as saying, not only can afford to play a more assertive global role, but [can]not afford not to.
-----> http://johnhelmer.net/?p=14594
Love this final paragraph: Let the last line be Jugurthas, one of the greatest barbarians of North Africa, the king of Numidia (Algeria, Tunisia) who fought the Roman empire between 112 and 106 BC. Romes a city for sale and bound to fall as soon as it finds a buyer, he said. For Rome insert Berlin, London, Paris, Brussels, The Hague, or Washington, DC.
Demeter
(85,373 posts)They don't have industry, only banksters; the only power they have is the power to screw up lives with regulations and paperwork, tax, jail and send out armies. Most of that power disappears under occupation.
And occupation to what purpose? Who would want to rule over Americans? Kill us all and take our toys, yes! But rule? That's a fool's errand.
PS to Matt: nice job editing Helmer into something readable and pertinent. I read that column and sighed and closed it. I didn't have the strength!
Demeter
(85,373 posts)A Texas jurys recent decision to award over $5 million in damages and fees for the fraudulent foreclosure of a single home suggests that the big banks could have been on the hook for as much as $32 trillion before the Justice Department and state attorneys general settled for $25 billion, or less than one-tenth of a penny on the dollar.
In the trial in Harris County district court, the jury awarded Houston foreclosure victims Mary Ellen and David Wolf $5.38 million on November 6, on the grounds that Wells Fargo Bank and Carrington Mortgage Services knowingly submitted false documents to kick them out of their home. The Wolfs had taken out a $400,000 home equity loan from Carrington (then known as New Century), which was immediately sold into a mortgage-backed trust administered by Wells Fargo. The loan was never properly placed into that trust, however, breaking the chain of title and making it impossible for Carrington or Wells Fargo to legally enforce the lien. They put the Wolfs into foreclosure anyway, relying on a transfer document fabricated (or robo-signed) by Tom Croft, a New Century employee. New Century did not own the promissory note or deed of trust and could therefore not legally transfer the lien, and Croft signed off without personal knowledge of the underlying loan.
The jury agreed with the Wolfs that this made the foreclosure invalid, and awarded the family $150,000 in financial injuries, $40,000 for mental anguish, $5 million in punitive damages and $190,000 in attorneys fees. Wells Fargo can seek a new trial, ask the judge to reduce the damages, or appeal the case, though it hasnt done so yet.
Numerous court depositions released in 2010 revealed that robo-signing of mortgage documents in an attempt to prove ownership of loans and secure foreclosures in other words, foreclosure fraud was a widespread industry practice. Two years later, the five leading mortgage servicing companies, including Wells Fargo, paid $5 billion in fines and $20 billion in credits in return for federal and state prosecutors agreeing not to pursue civil charges...With the jury award in the Wolf family case, we can now assess the true financial exposure on these banks and mortgage companies. There have been roughly 6 million foreclosures since the beginning of the financial crisis in 2008, and virtually all of them were completed with robo-signed, fabricated or fraudulent documents in one form or another. If we apply the $5.38 million jury award to all of those loans, you have a potential cost from the foreclosure fraud scandal of $32.28 trillion.
MORE
MattSh
(3,714 posts)DemReadingDU
(16,000 posts)by Phoenix Capital Research
As weve noted previously, the War on Cash is accelerating.
In recent months:
1) The SEC and other regulators have implemented legislation allowing Money Market Funds to lock in your cash for up to 10 days during the next financial crisis (meaning you cannot get your money out).
2) The FDIC has implemented legislation permitting it to seize systemically important banks and convert their deposits into equity (the dreaded bail in used in Cyprus in 2013).
3) JP Morgan and other large banks have begun rejecting large deposits.
4) France has banned any transaction over 1,000 Euros from using physical cash. Spain has already banned transactions over 2,500. Uruguay has banned transactions over $5,000. And on and on.
There is a widespread global campaign to eradicate physical cash. And weve now got a connected insider confirming it.
Dr. Harald Malmgren is about as connected as you can get into the Washington DC political elite. He served as a Senior Aide to FOUR separate Presidents as well the Senate Committee on Finance.
This is someone who KNOWS what global elites are thinking about the financial system and US economy.
Dr. Malmgren recently gave an interview to Sinclair and Co that is absolutely shocking.
The very first sentence:
Banks in the US and Europe are trying to develop a cashless transactions system
The concept is to establish a comprehensive ledger for a business or a person that records everything received and spent, and all of the assets held mortgages, investment portfolios, debts, contractual financial obligations, and anything else of market value including pleasure boats, automobiles, and other machinery.
He continues
Governments would very much like such ledgers to exist because they could view everything that is taking place financially in real time, including ability to evaluate net worth, patterns of spending and of earned and unearned income, and of course, an instant assessment of all taxable activities.
more...
http://www.zerohedge.com/news/2015-11-21/former-senior-aide-four-presidents-outlines-how-and-why-elites-want-end-physical-cas
9/4/15 Cash as a Policy Tool An Interview with the Hon. Dr. Harald Malmgren
Erico Matias Tavares
Sinclair & Co.
https://www.linkedin.com/pulse/cash-policy-tool-interview-hon-dr-harald-malmgren-tavares
Demeter
(85,373 posts)There's no purpose to prodding the animals in the zoo with sharp sticks...especially when the bars are imaginary.
Hotler
(11,445 posts)we take to the streets fighting mad and/or a concumer strike and shut the spending down.
DemReadingDU
(16,000 posts)As the year-end approaches keep in mind that an object will never make you happy. It might for a few minutes, maybe even days, but in the end your experiences are all youve got. So this year why not get your family together and do something wildly different. Ignore Black Friday. Try buying almost nothing for Christmas and you might experience the most joyous holiday season youve ever had. Buy nothing and experience everything.
Since the early 1990s, Buy Nothing Day has inspired worldwide personal and collective action against consumerism. Buy Nothing Day isnt just about changing your habits for one day it is about rediscovering what it means to live freely.
Join millions of us in over 60 countries on November 27/28 for Buy Nothing Day and see what it feels like to take a stand against corporate domination. Then, as we enter the holiday season, consider what it might mean to celebrate a holiday that isnt driven by commercial forces. If you are going to buy, make a choice and go local, independent, or make something. Lets take back our lives and stop buying into the consumerist machine.
https://www.adbusters.org/campaigns/bnd
Demeter
(85,373 posts)These are investments to hold for the long run, regardless of rising official interest rates...The S&P 500 Dividend Aristocrats Index has greatly outperformed the broader S&P 500 Index over the past 10 years, and includes many quality companies that raise their payouts year after year. But S&P Dow Jones Indices has a High-Yield Dividend Aristocrats Index that can help you find even higher-yielding stocks.
Most financial-media news is geared toward current events that can affect stock prices over the short term. But many investors are much more concerned with longer-term strategies for growth or income. For long-term growth investors that is, those who truly wish to invest in companies for many years we recently discussed an approach that considers some key performance numbers, but more importantly, factors in investors own belief of whether a companys products or services will remain popular for decades. But some investors are primarily concerned with income, which has shrunk as interest rates have fallen since 2008. The Federal Reserve is expected to begin raising the short-term federal funds rate soon, from a range of zero to 0.25%.
If interest rates start to rise, market prices of bonds and preferred stocks will fall. That is natural and expected by most income-seeking investors. It can be especially difficult for investors holding shares in bond mutual funds or other income funds because of their fluctuating share prices, which are based on the market values of the securities held by the funds. Theres no guarantee that your losses in a bond fund will every be recovered. But if you hold your own bonds or preferred stocks, you already know how much of a premium, if any, you paid when making the purchase, and therefore know how much you will lose (or gain, if you bought at a discount) when a bond matures or if a preferred stock is called. Holding your own paper can be wonderful because you not only keep all the interest or dividends being paid, you also dont have to worry about market-price fluctuations.
Of course, this assumes your investment objective really is income, and that you are disciplined enough to keep holding the paper...
Demeter
(85,373 posts)President Obama says that the Trans-Pacific Partnership, a trade agreement his administration negotiated with 11 other countries, will help raise labor standards in developing nations like Vietnam, Malaysia and Mexico. The deal, the text of which was published earlier this month, could deliver on that promise, but much will depend on factors beyond Mr. Obamas control, like how T.P.P. countries and future presidents carry out the pact.
Historically, presidents negotiated agreements primarily to reduce or eliminate trade barriers like customs duties and quotas. The agreements included few measures to advance labor rights. The North American Free Trade Agreement among the United States, Canada and Mexico, which went into effect in 1994, for instance, was accompanied by a side deal on labor standards that was not fully enforceable.
More recent deals have contained tougher labor provisions, as it has become apparent that trade has contributed to sweatshop conditions and other labor abuses in many developing countries. Such abuses led Democratic lawmakers to insist that agreements negotiated by President George W. Bush with Peru, Colombia and other countries contain provisions to allow workers in those countries to form unions and collectively bargain with employers. Some of those changes might have happened anyway, as the countries became richer, but the trade agreements were intended to speed that up.
Obama administration officials say the T.P.P. goes further on labor standards than those earlier pacts. For example, the T.P.P.s labor chapter requires all 12 countries to adopt minimum wage, working hour and occupational safety regulations. That is an improvement, but it could turn out to be mostly symbolic because the agreement does not specify how countries should set minimum wages. Nor does it establish any minimum standard for safety regulations...
WHAT ABOUT AMERICAN WORKERS? "FIRST, DO NO HARM" DOES NOT APPLY SOLELY TO DOCTORS!
Demeter
(85,373 posts)Demeter
(85,373 posts)Blackstone has grown its size nearly four-fold since its 2007 IPO.
But the biggest private equity firm on Wall Street has seen even greater growth in its real estate division, which has expanded from a $17.7 billion business when Steve Schwarzman took his company public to one that today manages nearly $100 billion worth of property.
Steve Schwarzman is America's landlord, now, and he's not afraid to acknowledge it.
"Were now, we believe, the largest owner of real estate in the world," he told Business Insider in an interview at his company's Park Avenue headquarters in midtown Manhattan.
"We have a performance record that is pretty much in a league of our own, weve compounded returns of around 18% after fees. Weve had almost no losses of any type."
MORE GLOATING AT LINK
Demeter
(85,373 posts)SEE MAX KEISER'S BANANA DEMONSTRATION, ABOVE, FOR HOW IT'S DONE
http://wolfstreet.com/2015/11/18/financially-engineered-stocks-drag-down-sp-500/
Stocks have been on a tear to nowhere this year. Now investors are praying for a Santa rally to pull them out of the mire. Theyre counting on desperate amounts of share buybacks that companies fund by loading up on debt. But the magic trick that had performed miracles over the past few years is backfiring. And theres a reason.
DuPont early this year announced a $4 billion buyback program on top of a $5 billion program announced a year earlier to beat back activist investor Nelson Peltzs Trian Fund Management, which was seeking four board seats to get its way.
In March, Qualcomm Inc., under pressure from hedge fund Jana Partners, agreed to boost its program to purchase $10 billion of its shares over the next 12 months; the company already had an existing $7.8 billion buyback program and a commitment to return three quarters of its free cash flow to shareholders.
And in July, Qualcomm announced 5,000 layoffs. Its hard to innovate when youre trying to please a hedge fund.
CEOs with a long-term outlook and a focus on innovation and investment, rather than financial engineering, come under intense pressure. None of it is optional; if you ignore them, you go away, Russ Daniels, a tech executive with 15 years at Apple and 13 years at HP, told Reuters. Its all just resource allocation, he said. The situation right now is there are a lot of investors who believe that they can make a better decision about how to apply that resource than the management of the business can.
Nearly 60% of the 3,297 publicly traded non-financial US companies Reuters analyzed have engaged in share buybacks since 2010. Last year, the money spent on buybacks and dividends exceeded net income for the first time in a non-recession period. This year, for the 613 companies that have reported earnings for fiscal 2015, share buybacks hit a record $520 billion. They also paid $365 billion in dividends, for a total of $885 billion, against their combined net income of $847 billion. Buybacks and dividends amount to 113% of capital spending among companies that have repurchased shares since 2010, up from 60% in 2000 and from 38% in 1990. Corporate investment is normally a big driver in a recovery. Not this time! Hence the lousy recovery.
Financial engineering takes precedence over actual engineering in the minds of CEOs and CFOs. A company buying its own shares creates additional demand for those shares. Its supposed to drive up the share price. The hoopla surrounding buyback announcements drives up prices too. Buybacks also reduce the number of outstanding shares, thus increase the earnings per share, even when net income is declining.
MORE
Demeter
(85,373 posts)ONE SHUDDERS TO THINK ABOUT IT
U-Turn by SYRIZA and Popular Disillusionment
Originally elected in January 2015 on a vehement anti-austerity platform, the Greek Prime Minister Alexis Tsipras has made an unprecedented U-turn. He has ignored the popular outcry against austerity loudly expressed in a referendum on July 5 and has given in to the creditors demands. In August a new bailout was signed and approved, including fresh austerity but also neo-colonial restrictions on national sovereignty giving the right to creditors to monitor the Greek government.
And yet, Tsipras won a new election on September 20, again forming a government. The result seemed to vindicate his capitulation. It appears that Greek voters, confronted with a narrative presenting the new agreement as inescapable, opted to give the governing party a second chance.
This wasnt a vote of hope but a vote for the lesser evil within the limits of a nothing can really change mentality, says Costas from Patra. Costas is even convinced that if there was another general election soon, the governing party would still emerge victorious. Greek voters appear to think that there is no credible alternative to austerity. Ever since the PM marginalized any voices in SYRIZA that tried to show a different way and declared there was no alternative, the Greek society, having lost its morale, has come to accept its fate, he says.
Truly to understand the popular mood, however, one should take a look at the abstention rates in the recent election. Turnout plummeted, with a record-high abstention rate of 45%. If we take into account the blank ballots that reached an extraordinary 2.5%, the message is quite clear: the Greek peoples disappointment has led to a massive rejection of the political process altogether...
THAT'S A FEATURE---NOT A BUG!
http://triplecrisis.com/the-disaster-of-greek-austerity-part-2/
Demeter
(85,373 posts)Is the sheer quantity of history that has occurred there, some of it much worse than terrorists shooting up a theater or suiciding with TNT or whatever.
I would think every inch of the city is soaked in blood and haunted by spectres of the murdered.
Maybe that's why I've no desire to go.
Firefox keeps crashing on me, too, every 5 minutes or less, so I'm wrapping it up for the Weekend. See you on Monday's SMW! Keep on posting!