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Monday Business Edition

This is the first installment of what I hope is going to be a regular Monday feature.

I always find it instructive to keep track of the money since I think it explains a lot about politics.

There are 2 major interrelated economic stories moving in the background.  One is the question of stimulus and the recovery of the ‘Main Street’ economy and the other is the question of deficit reduction and austerity particularly related to Social Security.

What relates these 2 stories is the abandonment by modern economists of Keynesianism.  If you haven’t already, you should really read Krugman’s How Did Economists Get It So Wrong? from September of 2009 where he describes the irrational theories of the two main trends of academic economics, the salt and freshwater schools.

To me ignoring the proven facts of Keynesian Economics makes about as much sense as a biologist rejecting the ‘Theory’ of Evolution and Genetics.  I suppose it’s possible to do good and rigorously academically grounded work but you’re really rejecting everything that makes your ‘science’ umm… ‘scientific’, which is to say predictive of measurable future results.

Just because your second derivative (in the calculus sense) quant guy can give you a value for the change in the slope of a curve doesn’t make it anything but mathematical masturbation unless your model bears some relation to reality.

Anyway, below you will find some stories I’ve collected from the Business section of Yahoo News.  Just because some of these guys are rich doesn’t mean any of them are smart.

Monday Business Edition is an Open Thread

From Yahoo News Business

1 India rocked by strike over fuel prices

by Giles Hewitt, AFP

1 hr 14 mins ago

NEW DELHI (AFP) – An opposition-led strike over fuel price rises disrupted life across India on Monday, triggering transport mayhem and sporadic violence in major cities where schools and businesses closed down.

Flights were grounded in commercial airline hubs such as Mumbai and Kolkata, while protesters attacked buses, blocked roads with burning tyres and organised sit-down protests on inter-city railway links.

Police were out in force to prevent any large-scale unrest during the day-long strike called by the main opposition Bharatiya Janata Party (BJP) and leftist parties in a show of strength against the Congress-led government’s reform programme.

Le Tour: Stage 2

So you remember yesterday’s thrilling finish?  The peloton reeled back in the break away and all the teams set up their sprinters for the dash to the line?

Well there was a crash 50 yards from the finish so under Le Tour’s NASCAR competition rules everyone in the main body gets the same time as the first sprinter to cross.

Today’s stage finishes on a climb, one of 6 in the stage, so we’re unlikely to see that kind of action again.  125 miles from Brussles to Spa.

Evening Edition

Evening Edition is an Open Thread

Now with 51 Top Stories.

From Yahoo News Top Stories

1 Spotlight on bank tests as ECB readies rate meeting

by William Ickes, AFP

Sun Jul 4, 3:47 am ET

FRANKFURT (AFP) – The European Central Bank on Thursday will urge eurozone banks and governments to shore up their accounts in the face of market pressure for a clear reading on the health of the European financial sector.

The ECB’s main interest rate will undoubtedly remain at a record low 1.0 percent set in May 2009 and bank president Jean-Claude Trichet will press banks again to draw on state support if necessary to bolster balance sheets.

Around 100 banks across Europe are being subjected to “stress tests” aimed at determining whether they can withstand shocks such as another recession or the default of a major borrower.

On Patriotism

It’s an interesting coincidence that exactly 50 years after The Declaration, Jefferson and Adams died within hours of each other.  Ironically Adam’s last words were- “Jefferson still survives.”  In fact Jefferson preceeded Adams which could have caused some embarrassment provided you believe in an afterlife and that Jefferson and Adams could have ended up in the same place.

Me?  Not so much.  People forget that our founders were revolutionaries and the establishment of The United States of America led to a string of more or less successful rebellions in Haiti, South America, and France.

It’s certainly not a historical leap of faith to call The Council of Europe and the Age of Metternich a reaction to a little fight we picked on the road between Lexington and Concord.

History is real, and not so very long ago.

These were people just like us.  Every bit as smart, twice as tough, and doing the best they could with the tools they had available.

Recently they’d been through 30 years of Civil War based on religious sectarianism and class warfare.  Fighting the French and Indians was kind of intermittent by comparison.

They were not rubes by any means though it’s a classic American gambit going back to Franklin at least to put a dead beaver on your head and pretend to be an idiot.  It makes the women want you.

My favorite Ben who is not a traitor was considered the head of the committee that composed The Declaration, but the principal Author was Thomas Jefferson whom we find recently to have made a last minute substitution of ‘citizen’ for ‘subject’ that I found reflective of his principles as a Founder.

Revolution is not all skittles and beer.

America had its Cincinattus and a Republic if we could keep it, but political feuding between the Democratic-Republicans and the Federalists was little short of open warfare in the election of 1800.  People were literally shot down like dogs.

Adams had to suffer Jefferson as a Vice-President (Mr. Heartbeat) and successor.  Two Term Jefferson left his office to James “Mr. Constitution” Madison and the rest, as they say, is history until AndrewKingfishJackson (but that’s a story for another day).

The democratic impulse and enlightenment values embodied in the work of our Founders, little things like the Constitution and Bill of Rights, the institutions of the Congress, Presidency, and Court have always been under attack by powerful elites who seek to influence outcomes in their favor.

The very least honor we owe these brave and principled patriots is to resist those efforts and defend justice and the rule of law to the best of our ability.

Why Blog?

I’ve always identified myself as a writer, even when it was poetry for machines and deadline dreck for newsletters, pamphlets, and flyers.

I like words and written communication better than verbal or theatrical presentations because of the random access you have to the information as a reader.  With a speech, or Radio, or a Play, TV, or Movie the information is under control of the deliverer, not the audience.  It’s inherently a serial exposition, a sales pitch, designed by arrangement and order to lead you from reasonable premises to a predetermined conclusion without allowing you to revisit the path of the argument unless you repeat the experience from scratch.

You may call reading the last chapter to find out ‘who done it’ cheating, I suggest instead that it’s a challenge every Author should be willing to face.  If you can’t make your middle memorable it’s probably better suited for a Short Story than a Novel.

So that’s what’s in it for me.  It’s a form of self expression in a broadly accessible format that’s not really very expensive except in terms of the time it takes to produce the content.

What’s in it for you?

There are 2 parts to this answer.

As a Reader only, you get to bask in my brilliance and wallow in my words and if passive entertainment suits your style I’m grateful for your eyeballs.  By that I mean you’ll get a lot more of me if you can stand it and love or hate it I don’t really give a rat’s ass what you think about me as long as you pay attention.

But the beauty part of a blog is that you can have your voice heard too.  It’s called a Vent Hole for a reason and it accepts both positive and negative feedback.  If your ambition exceeds a Tweet or two you can contribute longer pieces that I will be more than happy to evaluate and feature.  There is nothing that gives me more pleasure than promoting the work of others.

I hope that The Stars Hollow Gazette will develop into a Group Blog where regular participants as well as muse driven Authors will provide a stream of fresh content that will make us a several time a day destination.

Activism

I think that blogs are both more and less powerful platforms than conventionally recognized.  Many people have a nostalgic affection for storming the Bastille and I don’t despise those who are willing to wear no pants.

My legs are not what they once were, though that doesn’t mean I won’t ‘kilt up’ if the occasion calls for it.

I don’t think a failure to summon musket armed militia is an indication of weakness.  The information battlefield has numerous hedgerows, stone walls, and trees to snipe from behind of.  If you think it doesn’t hurt you’re not listening to the howls of outrage from the ego struck elite you ungrateful cur.

My activist brother thinks the most important function of blogs is as a source of information and a historical record, an alternative to the monopolistic media with its competitive barriers.  I think it’s equally as important to amuse and distract.  Your eyeballs are money.  Your passive consent, complicity.

I call you to a life of resistance in the small and easily done things.  Move your money.  Use cash when you can.  Turn off your lights when you leave the room and properly inflate your tires.

If just two people do it, in harmony, they’ll think they’re both faggots and won’t take either of them.

I’ve been called worse things than a stick.  Whom would fardels bear to grunt and sweat under a weary life, but that the dread of something after death, the undiscovered country from whose bourne no traveller returns, puzzles the will and makes us rather bear those ills we have than fly to others that we know not of?

Thus conscience does make cowards of us all and the native hue of resolution is sicklied over with the pale cast of thought, and enterprise of great pitch and moment with this regard their currents turn awry and lose the name of action.

In thy orisons be all my sins remembered.

Civility

No one has any obligation to treat you any particular way on the internet.

Indeed, one of the things I most despise about our inbred Versailles Village political/media culture is their false politeness and evasion of the truth.

Calling people liars and cowards and idiots is not ‘hate speech’.

Saying that Jew controlled financial, media, and political elites are stealing victory from our brave troopers and using the blood of Christian babies to make Matzoh IS.

If you can’t tell the difference between those things it’s simply useless to talk about subtleties and I won’t bother to do so.

In general however you may attribute to me personally any vice- I claim them all, particularly sloth.  If you have something new and inventive you’d care to share I’m always interested in novelty.  On the other hand you can hardly complain when I return the favor and if I happen to do it bigger and grander than you and you leave impressed…

That’s envy, my dear.  There’s a little bit of envy in the best of us.

Evolution

If you’d bother to learn anything about me at all you’d know I’m not a great believer in it.  It seems to me contrary to the Second Law of Thermodynamics.

The law that entropy always increases holds, I think, the supreme position among the laws of Nature. If someone points out to you that your pet theory of the universe is in disagreement with Maxwell’s equations – then so much the worse for Maxwell’s equations. If it is found to be contradicted by observation – well, these experimentalists do bungle things sometimes. But if your theory is found to be against the second law of thermodynamics I can give you no hope; there is nothing for it but to collapse in deepest humiliation. – Sir Arthur Stanley Eddington

But change is only to be expected, and while most of it is merely increasing entropy, intermittently self organizing systems emerge and flourish for a time.

And if you’re lucky you can be a part of it.

Grumpy and out of sorts Stage One

I don’t claim to be the expert Armando is, because I’ve only been watching the Tour since the year before Lance started his streak and naturally my perspective is distorted from that experience.

Bring on the big bore.  Today’s ‘official’ first stage is live now on Vs.

Lance is in 4th place 22 seconds behind.

Stage One-

139 miles of pancake flat Florida.

8:50 start.

Prolog-

Contador / Armstrong head to head on competing teams.  Armstrong’s last Tour win or lose.

Raining in Rotterdam.  Prolog is an individual time trial.  A poor performance or crash could end it before it hardly starts.

Stage 3 Cobblestones.  Lots of wrecks.

Armstrong launches in good conditions.  It’s not where he ends up overall, but in relation to Contador.  Contador next out of the start house.

At halfway Armstrong only 5 seconds behind fastest so far.

Finishes in 3rd.  Now up to Contador- 1 second behind at halfway to Armstrong.

10:27:64.  Five seconds behind.  Advantage Armstrong.

Tomorrow Sea Wind.  Flat.

Ben Stiller interview.  I watch this stuff so you don’t have to.

Lance thinks he’s ahead of last year, didn’t have a collar bone crash.

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