September 2011 archive

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

September 28 is the 271st day of the year (272nd in leap years) in the Gregorian calendar. There are 94 days remaining until the end of the year.

On this day in 1928, the antibiotic Penicillin was discovered. It’s discovery is attributed to Scottish scientist and Nobel laureate Alexander Fleming in 1928. He showed that, if Penicillium notatum  was grown in the appropriate substrate, it would exude a substance with antibiotic properties, which he dubbed penicillin. This serendipitous  observation began the modern era of antibiotic discovery. The development of penicillin for use as a medicine is attributed to the Australian Nobel laureate Howard Walter Florey together with the German Nobel laureate Ernst Chain and the English biochemist Norman Heatley.

However, several others reported the bacteriostatic effects of Penicillium earlier than Fleming. The use of bread with a blue mould (presumably penicillium) as a means of treating suppurating wounds was a staple of folk medicine in Europe since the Middle Ages. The first published reference appears in the publication of the Royal Society in 1875, by John Tyndall. Ernest Duchesne documented it in an 1897 paper, which was not accepted by the Institut Pasteur because of his youth. In March 2000, doctors at the San Juan de Dios Hospital in San José, Costa Rica published the manuscripts of the Costa Rican scientist and medical doctor Clodomiro (Clorito) Picado Twight (1887-1944). They reported Picado’s observations on the inhibitory actions of fungi of the genus Penicillium between 1915 and 1927. Picado reported his discovery to the Paris Academy of Sciences, yet did not patent it, even though his investigations started years before Fleming’s. Joseph Lister was experimenting with penicillum in 1871 for his Aseptic surgery. He found that it weakened the microbes but then he dismissed the fungi.

Fleming recounted that the date of his discovery of penicillin was on the morning of Friday, September 28, 1928. It was a fortuitous accident: in his laboratory in the basement of St. Mary’s Hospital in London (now part of Imperial College), Fleming noticed a petri dish containing Staphylococcus plate culture he had mistakenly left open, which was contaminated by blue-green mould, which had formed a visible growth. There was a halo of inhibited bacterial growth around the mould. Fleming concluded that the mould was releasing a substance that was repressing the growth and lysing the bacteria. He grew a pure culture and discovered that it was a Penicillium mould, now known to be Penicillium notatum. Charles Thom, an American specialist working at the U.S. Department of Agriculture, was the acknowledged expert, and Fleming referred the matter to him. Fleming coined the term “penicillin” to describe the filtrate of a broth culture of the Penicillium mould. Even in these early stages, penicillin was found to be most effective against Gram-positive bacteria, and ineffective against Gram-negative organisms and fungi. He expressed initial optimism that penicillin would be a useful disinfectant, being highly potent with minimal toxicity compared to antiseptics of the day, and noted its laboratory value in the isolation of “Bacillus influenzae” (now Haemophilus influenzae). After further experiments, Fleming was convinced that penicillin could not last long enough in the human body to kill pathogenic bacteria, and stopped studying it after 1931. He restarted clinical trials in 1934, and continued to try to get someone to purify it until 1940.

A surprised group of dedicated protestors were greeted to a morale boost on Monday evening when the well-known filmmaker and author Michael Moore came out to Lower Manhattan to talk about something he is extremely familiar with, social activism.

Moore came around 7 p.m. to New York’s Zuccotti Park where the “Occupy Wall Street” protestors have set the stage for their protest against corporate greed and its social and economic impact on the United States.

Moore told protestors, “Change has to start somewhere. Why not here?”

He added, “A lot of people, they end up… doing well and they forget about who they are and where they come from.”

Moore came at a good time, as protestors were in their 10th day of the movement and fatigue from staying outdoors was likely seeping in, especially following a weekend march where over 80 people were arrested around New York’s famous Union Square.

Suckers.

That’s what they call the people at the bottom end of a failed Ponzi Scheme and this, unlike Social Security is in fact a Ponzi Scheme.  You see, Social Security pays out 85% of it’s benefits (15% haircut) after 35 years if nothing is done like, oh… say raising the income cap.

Greek Bonds start at a 50% haircut and spiral rapidly to kitty litter.

Road Map to Prepackaged, Orderly Default That Keeps Greece in Euro: View

By the Editors, Bloomberg News

Sep 27, 2011 8:00 PM ET

European leaders swear a Greek default isn’t in the cards. Their parliaments debate whether to bolster an inadequate rescue facility. The International Monetary Fund sends delegates to Athens to make sure it deserves its next tiny tranche of bailout aid. German Chancellor Angela Merkel regularly declares fealty to the euro.

They’re all in denial. Almost no one believes Greece is solvent, not with an economy — and tax receipts — shrinking and debt ballooning to 180 percent of gross domestic product, a burden that no amount of belt-tightening will make bearable. The question now is whether Europe can arrange a controlled and orderly default, or will allow a Greek bankruptcy that is chaotic and destructive to the global economy.

…

Expelling Greece from the euro would cause more economic, political and social chaos than the world can bear. The possibilities range from runs on European banks to violent rioting in the streets of Athens — or even civil war. True, leaving the euro would allow Greece to do something it can’t do now — devalue its currency — to be more competitive. But it would also paralyze a drachma-tized economy. One big reason is that companies with euro debts would be hard-pressed to pay them back with a deeply devalued drachma, and would face bankruptcy.

Exiting would also be more expensive than staying. Willem Buiter, the chief economist at Citigroup, says a euro exit would mean a 100 percent write-off of Greek bonds, while staying would mean writing down their value by 60 percent to 80 percent. Greek bonds now trade at discounts of 40 percent to 65 percent of face value.

Without a growth plan, the EU faces financial Waterloo

The latest eurozone rescue scheme may save Greece for now, but it fails on a basic rule of classical economics

Simon Jenkins, The Guardian

27 September 2011

A bad-tempered weekend at the IMF in Washington has reportedly led to a ghost of a plan that makes sense. It involves halving Greece’s debts to German and French banks, repeating the 21% “haircut” default of last July. This in turn will hurt the banks more than they might stand, so the second part of the plan props them with urgent subsidies. In a third part, some 2 trillion euros would be tipped into the European central bank, somehow to “firewall” the sovereign debts of Portugal and Ireland and perhaps even Italy and Spain.

This plan is first aid at the scene of the accident. But when all bad options have failed, desperate men turn to worse ones. The summer’s stress tests, bail-outs, Greek promises and quantitative easings are dead in the water. Europe’s weaker governments have gone on spending and borrowing, and banks lending. Greece’s chief paymaster, Germany, is fed up and Greece is on the brink of bankruptcy. Its workers will soon not get paid and its government might fall – an echo of Weimar.

…

The plan currently in circulation makes short-term sense. But it is a rescue plan, not a growth plan. The frightening realisation is that, at a time of recession, the economic conversation is back to the 1930s, as if Keynes had never preached the woes of austerity. In the past three years, 20 million people have lost their jobs worldwide. This staggering waste of human resources is entirely due to human error, to the political mismanagement of economies, which makes Ed Balls’ boasting in his conference speech on Monday the more inexcusable.

The western economy is in the grip of a textbook liquidity squeeze. There is cash everywhere. British companies alone have some £700bn on deposit, which they are unable or unwilling to invest for lack of demand. The Bank of England has printed some £200bn of quantitative easing, mendaciously claiming it will “kick-start the economy”. It has merely added to the pile, and is proposing to add more. It cannot explain where the money has gone, or show one constructive idea as to how to boost demand to mop up this lake of liquidity. The bank is back in the dark ages, starving today to inflate tomorrow.

Where have the government’s Tory monetarists gone? Where are their graphs of M1, M2 and M3 and their equations of the velocity of cash in circulation? The liquidity squeeze is nothing to do with George Osborne’s public sector cuts, which are mild, but with the laws of classical economics. In a recession, you do not save, you spend. Why is Osborne building a cash mountain? If nothing is done to ease the constipation in the British economy, when the rest of Europe recovers it will grow and Britain will merely stumble into stagflation.

In the face of this what is Peter Orzag’s recommmendation (you remember, he was Barack Obama’s Citigroup Budget Director)?

Peter Orszag’s Bid to Get Politicians Out of Policy

By: David Dayen, Firedog Lake

Tuesday September 27, 2011 12:22 pm

Peter Orszag caused a bit of a stir with his call for an enlightened technocracy, and, literally, “less democracy.”

…

The very serious technocrats have been wrong about everything in their own right, from the OECD to the ECB to the Fed and on down the line. This is a dodge, an attempt to get elites off the hook for their complete failure to guide the economy by saying that they’re being stymied by “democracy.”

Does Economics Still Progress?

Paul Krugman, The New York Times

September 27, 2011, 4:03 pm

I’ve never liked the notion of talking about economic “science” – it’s much too raw and imperfect a discipline to be paired casually with things like chemistry or biology, and in general when someone talks about economics as a science I immediately suspect that I’m hearing someone who doesn’t know that models are only models. Still, when I was younger I firmly believed that economics was a field that progressed over time, that every generation knew more than the generation before.

The question now is whether that’s still true. In 1971 it was clear that economists knew a lot that they hadn’t known in 1931. Is that clear when we compare 2011 with 1971? I think you can actually make the case that in important ways the profession knew more in 1971 than it does now.

…

What I’d add to that is that at this point it seems to me that many economists aren’t even trying to get at the truth. When I look at a lot of what prominent economists have been writing in response to the ongoing economic crisis, I see no sign of intellectual discomfort, no sense that a disaster their models made no allowance for is troubling them; I see only blithe invention of stories to rationalize the disaster in a way that supports their side of the partisan divide.

Brilliant!

Evening Edition is an Open Thread

1 Opposition Labour leader calls time on ‘fast buck’ Britain

By Marie-Pierre Ferey, AFP

1 hr 1 min ago

BP Gulf Drilling Plan Criticized by Environmentalists, Lawmakers

By Katarzyna Klimasinska and Brian Swint, Bloomberg News

Sep 26, 2011 8:43 AM ET

BP was “ultimately responsible” for the accident on the Deepwater Horizon rig that killed 11 and started the leak, though rigowner Transocean Ltd. and Halliburton Co (HAL), which provided cement, share some of the blame, a U.S. report said Sept. 14. The 212-page document issued by the Interior Department and Coast Guard said BP managers were distracted by cost overruns and personal conflicts.

…

Gulf of Mexico oil is more than twice as profitable as production from the rest of BP’s portfolio, yielding about $60 in profit to the company when oil prices are $100 a barrel. In 2010, the Gulf of Mexico accounted for 28 percent of the company’s cash flow and just 10 percent of production, according to research by Citigroup Inc. analyst Alastair Syme.

…

BP’s Dudley said July 26 that BP is eager to “get back to work” in the Gulf, working closely with regulators, and that the pace of BP’s return depends on getting approvals for new wells. He said the U.S. Bureau of Ocean Management says BP won’t be held to a higher standard than its peers in its applications.

What could possibly go wrong?

Study shows dispersants BP used in oil spill may cause cancer

Kimberly Blair, Pensacola News Journal

12:00 AM, Sep. 26, 2011  

The report indicates that the 1.8 million gallons of oil dispersants – including Corexit 9500 and 9527 – sprayed on or dumped into the Gulf of Mexico after the spill could contain cancer-causing agents, endocrine-disrupting chemicals and hazardous toxins.

And the chemicals mixed with the sweet Louisiana crude that flowed into the Gulf for 87 days from the Deepwater Horizon oil well may have created a brew that is more harmful to marine life, humans and the environment than the oil.

Gulf oil spill could cause lasting damage to fish populations, study finds

By Juliet Eilperin, Washington Post

Published: September 26

Fish living in Gulf of Mexico marshes exposed to last year’s oil spill have undergone cellular changes that could lead to developmental and reproductive problems, a group of researchers reported Monday in the journal Proceedings of the National Academy of Sciences.

…

“Their biology is telling us that they’ve been a), exposed to these chemicals and b), affected by them in negative ways,” said Andrew Whitehead, an associate professor of biology at LSU and the paper’s lead author. “Very low-level exposures can cause these toxic effects.”

…

Whitehead said the results show that just because fish from the gulf have passed federal inspections, it does not mean these species are unaffected by the spill.

“You can have a fish that’s safe to eat but is still not healthy,” he said, adding that as sediment containing hydrocarbons is dredged up by storms, it could expose species over time. “The sediments are going to act as this long-term reservoir of oil, of potential exposure.”

Docs show US gov’t bias to Keystone XL during environmental study

by Lynn Herrmann

Sep 26, 2011

Washington – New documents reveal the US State Department was “doing favors” for TransCanada during a government review of the controversial Keystone XL pipeline and sheds light on a White House bias in favor of the pipeline.

…

Among the initial batch of 34 documents (pdf) released, all originating from the Office of the Secretary, are concerns over State Department “bias” and Clinton’s comment herself before the required environmental review had been completed in which she stated she was “inclined” toward project approval.

…

Other documents reveal State Department officials helped TransCanada by “providing information about State’s internal thinking and by coaching TransCanada on what to say” in response to the draft Environmental Impact Statement (EIS), Friends of the Earth notes.

In another email correspondence (pdf) from December 6, 2009, Elliott offered to have TransCanada lobby the Canadian government on behalf of the State Department, with Elliott stating “TransCanada executives spend a great deal of time with Ottawa government officials” and added “TransCanada can be an asset for the state department and I hope you might see us as such.”

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Robert Reich: Why This is Exactly the Time to Rebuild America’s Infrastructure

Seems like only yesterday conservative nabobs of negativity predicted America’s ballooning budget deficit would generate soaring inflation and crippling costs of additional federal borrowing.

Remember Standard & Poor’s downgrade of the United States? Recall the intense worry about investors’ confidence in government bonds – America’s IOUs?

Hmmm.

Last week ten-year yields on U.S. Treasuries closed at 1.83 percent.

In other words, they were wrong.

In fact, it’s cheaper than ever for the United States to borrow. That’s because global investors desperately want the safety of dollars. Almost everywhere else on the globe is riskier. Europe is in a debt crisis, many developing nations are gripped by fears the contagion will spread to them, Japan remains in critical condition, China’s growth is slowing.

David Sirota: Why white liberals are (really) ditching Obama

Racism isn’t responsible for the president’s drop in popularity. His right-wing policies are

A few weeks ago, I wrote an essay that got me a much larger truckload of hate mail than usual. The piece concerned the persistent problem of denialism in parts of White America when it comes to race. I lamented how, despite media and political insinuations that whites have become an oppressed group, it is people of color — and in particular, African-Americans — who remain the real casualties of discrimination:

   You can see [this racism] in black unemployment rates, which are twice as high as white unemployment rates — a disparity that persists even when controlling for education levels. You can see it in a 2004 MIT study showing that job-seekers with “white names receive 50 percent more callbacks for interviews” than job seekers with comparable resumes and “African-American-sounding names.” And you can see it in a news media that looks like an all-white country club and a U.S. Senate that includes no black legislators.

I stand by my argument. It is a fact that the most problematic and widespread application of this denialism takes the form represented by white conservatives who angrily insist that racism against minorities is not only dead, but that African-Americans enjoy undue favoritism.

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

September 27 is the 270th day of the year (271st in leap years) in the Gregorian calendar. There are 95 days remaining until the end of the year.

On this day in 1922, Jean-François Champollion deciphered the hieroglyphs of the Rosetta Stone with the help of groundwork laid by his predecessors: Athanasius Kircher, Silvestre de Sacy, Johan David Akerblad, Thomas Young, and William John Bankes. Champollion translated parts of the Rosetta Stone, showing that the Egyptian writing system was a combination of phonetic and ideographic signs.

Thomas Young was one of the first to attempt decipherment of the Egyptian hieroglyphs, basing his own work on the investigations of Swedish diplomat Akerblad, who built up a demotic  alphabet of 29 letters (15 turned out to be correct) and translated all personal names and other words in the Demotic part of the Rosetta Stone  in 1802. Akerblad however, wrongly believed that demotic was entirely phonetic or alphabetic. Young thought the same, and by 1814 he had completely translated the enchorial (which Champollion labeled Demotic as it is called today) text of the Rosetta Stone (he had a list with 86 demotic words). Young then studied the hieroglyphic alphabet and made some progress but failed to recognise that demotic and hieroglyphic texts were paraphrases and not simple translations. In 1823 he published an Account of the Recent Discoveries in Hieroglyphic Literature and Egyptian Antiquities. Some of Young’s conclusions appeared in the famous article Egypt he wrote for the 1818 edition of the Encyclopædia Britannica.

When Champollion, in 1822, published his translation of the hieroglyphs and the key to the grammatical system, Young and all others praised this work. Young had indicated in a letter to Gurney that he wished to see Champollion acknowledge that he had made use of Young’s earlier work in assisting his eventual deciphering of hieroglyphics. Champollion was unwilling to share the credit even though initially he had not recognized that hieroglyphics were phonetic. Young corrected him on this, and Champollion attempted to have an early article withdrawn once he realized his mistake. Strongly motivated by the political tensions of that time, the British supported Young and the French Champollion. Champollion completely translated the hieroglyphic grammar based in part upon the earlier work of others including Young. However, Champollion maintained that he alone had deciphered the hieroglyphs. After 1826, he did offer Young access to demotic manuscripts in the Louvre, when he was a curator. Baron Georges Cuvier (1825) credited Champollion’s work as an important aid in dating the Dendera Zodiac.

I didn’t think digging holes and mobilizing communities to protect or restore the trees, forests, watersheds, soil, or habitats for wildlife that surrounded them was spiritual work.

During my more than three decades as an environmentalist and campaigner for democratic rights, people have often asked me whether spirituality, different religious traditions, and the Bible in particular had inspired me, and influenced my activism and the work of the Green Belt Movement (GBM). Did I conceive conservation of the environment and empowerment of ordinary people as a kind of religious vocation? Were there spiritual lessons to be learned and applied to their own environmental efforts, or in their lives as a whole?

When I began this work in 1977, I wasn’t motivated by my faith or by religion in general. Instead, I was thinking literally and practically about solving problems on the ground. I wanted to help rural populations, especially women, with the basic needs they described to me during seminars and workshops. They said that they needed clean drinking water, adequate and nutritious food, income, and energy for cooking and heating. So, when I was asked these questions during the early days, I’d answer that I didn’t think digging holes and mobilizing communities to protect or restore the trees, forests, watersheds, soil, or habitats for wildlife that surrounded them was spiritual work.

Keith Olbermann reports on Occupy Wall St. and the “clear case of police brutality”. Going into its eleventh day, the protest has finally started to get attention from the media, sadly, not because of the mission of the protest to bring attention on the abuses of Wall St and the banks but because of the over-reacton of the NYC Police Department to an essentially peaceful demonstration and obvious police brutality.

The movement has received attention in the world press such as the Guardian UK and Al Jazeera. Also filmmaker and activist Michael Moore has taken up the cause, visiting the site and Noam Chomsky announced his solidarity adding to the encouragement of the protesters to continue bring their message about corporate greed and social inequality. It was also revealed that the white shirted police officer who maliciously maced the young women on Saturday has been accused of civil rights violations at the time of the 2004 Republican national convention protests.

In case anyone has missed the reason of Occupy Wall St. here it is:

Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99% that will no longer tolerate the greed and corruption of the 1%.

The occupation will continue and if you can’t be there, please, donate.