Links 7/5/09

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Honeybee mobs overpower hornets BBC

‘Lost boy’ who fled Sudan tells of his 4,000-mile trek Guardian

Latvian Banker Taking Souls as Collateral CNBC (hat tip reader Nick)

Bank crisis for prostitutes Ed Harrison

The Laptop, Circa 1968 Technologizer

Not Much Relief New York Times. The Times officially endorses principal reduction.

So Many Foreclosures, So Little Logic Gretchen Morgenson, The loss severities are shocking, over 60% on subprime and Alt-A. You can drive a truck through the mod opportunity here. 50% principal reduction and you are still ahead.

Australia Faces the ‘Full Brunt’ of Global Recession Bloomberg (hat tip DoctoRx)

The unemployment timebomb is quietly ticking Ambrose Evans-Pritchard, Telegraph

Why Economists Should Study Anthropology… Economists for Firing Larry Summers

Antidote du jour. Looks awfully familiar:

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  1. LeeAnne

    The unemployment time bomb is quietly ticking Ambrose Evans-Pritchard, Telegraph

    "French president Nicolas Sarkozy, with a good nose for popular moods, says: "We must overhaul everything. We cannot have a system of rentiers and social dumping under globalisation. Either we have justice or we will have violence. It is a chimera to think that this crisis is just a footnote and that we can carry on as before."

    A beautifully succinct statement. And his wife is terrific too. Interesting that the world's and history's greatest wastrel tried vilifying the world's greatest spokesperson.

    Had the American people been respectful of their fellows, humanitarians in other words, decent, there would have been protests after the first couple of times 10,000 – 20,000 people were fired to the applause of the stock market. That dynamic continues.

    And why haven't we seen demonstrations here in New York City and elsewhere?

    The police have been militarized; its clear by their attitude and behavior here in New York City, trained to oppose the public, and rumors have it that police lieutenants in this country are primarily right wing members (does anyone know anything about this? I'd be happy to research it but attempts have yielded no clue where to begin).

    The US, in the name of the war on drugs exported to 'the rest of the world' also exported and organizes police military readiness to the rest of the world.

    Bloomberg for instance, when given the choice for Homeland Security, chose the Police Department over the Fire Department, the latter preferred by the public for their humanitarian orientation as opposed to the poorly trained, overarmed and reactionary police, the former preferred by a dictator (paying $73,000,000 up front isn't an election where money is ruled in the USA to be 'speech').

    For an example of control over demonstrators here in NYC, a friend of mine, young and conservative, who went to the big anti-war demonstration at the UN, she said out of curiosity, was surprised at how the large crowds were corralled by police so no one could move. Also, overhead planes were not permitted contributing to the under reporting of the size of the crowd.

    This is consistent with Bloomberg's arresting and illegal holding of more than 1200 peaceful demonstrators during the RNC in 2004 followed by silence in the media on the progress or results of associated lawsuits or little else for that matter other than confirmation Bloomberg had lied as to his reason for denying park permits for peaceful demonstrations -that landscaping was at risk consistent the park's new fencing that greatly reduces meandering beyond assigned paths in Central Park; all for the sake of landscaping.

    They are ready -militarized underpaid over armed right wing police -ditto news reporting.

  2. "DoctoRx"

    Re the Evans-Pritchard column:

    what clean broom Congress? It's the same group that fiddled while Rome burned all last year.

    And sympathy for the new Pres. is fading as his back-ended "stimulus" doesn't stimulate much and evictions from homes continue w/o much actual help from the Party in power.

  3. Editor


    Of the 185,156 loan modifications in the 1st quarter of 2009 only 3,398 loans involved a principal reduction or just 1.8%.

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