Links 8/14/08

Scientists to study synthetic telepathy PhysOrg. Now if you want to read about the US military’s forays into telepathy of the non-synthetic sort, read The Men Who Stare At Goats. You cannot make this sort of thing up.

Police Turn to Secret Weapon: GPS Device Washington Post. Without warrants, too.

Merrill May Cut Dividend for First Time, Options Traders Say Bloomberg

U.S. Motorists Drove 4.7% Fewer Miles in June New York Times

China Overtakes U.S., Ending 100-Year Run 1440 Wall Street. Important, and probably not what you think.

Merrill Survey Sees World Downturn FT Alphaville

Are OECD Central Banks Too Transparent? VoxEU

At Countrywide, Option ARM Woes Mount Paul Jackson

Antidote du jour:

Print Friendly, PDF & Email


  1. doc holiday

    This is a fine example of reciprocal altruism, but hints at Fed collusion and synthetic substitution of collateral.

    A potential example of reciprocal altruism is blood-sharing in the vampire bat, in which bats feed regurgitated blood to those who have not collected much blood themselves knowing that they themselves may someday benefit from this same donation; cheaters are remembered by the colony and ousted from this collaboration.
    Another potential example would be Internet file sharing communities. The ability to download a given file directly depends on other people who already possess this file sharing (also called seeding) said file. Those who download the file and later refuse to seed it are known as leeches.

  2. Anonymous

    The Panda nearest in photo appears to be a fast or slow drinker. I wonder if that is his/her first bottle or a later one? Since we cannot see her/his tummy and compare it to the tummys of the other Pandas it is difficult to make even a tentative guess…partly because we don’t know how many bottles the other Pandas have consumed, either. Any guess that I put forward would = a WAG.

    Attempting to find how many bottles the nearest Panda has consumed is similar to attempting to determine the nature of the off balance sheet ‘assets’ held by some banks. We are left to assume that those assets are ‘not good’ because they are off balance sheets…but, we do not know how bad they are.

  3. doc holiday

    Level 1 milk is milk that has observable market prices. Think milk traded on the NYSE.

    Level 2 milk doesn’t have an observable value, but it has inputs that are based on inputs. Think interest-rate swap where its components are observable data points like the price of a 10-year Treasury bond.

    Level 3 milk is for milk where one or more of those inputs don’t have observable price inputs. This is the milk bottle that has been described as a guesstimate or WAG, because it is reliant on zoo keeper estimates, or the guess of someone outside the picture.

    Some zoo keepers haven’t adopted FAS 157, thus we have no idea how much milk from the isolated bear is involved in synthetic off-balance sheet hocus-pocus, hanky panky, foul play, greed and obviously synchronised sucking!

Comments are closed.