Neanderthal ‘make-up’ discovered BBC
Rare self-rolling giant snow balls found in UK Telegraph
Dark matter ‘beach ball’ unveiled BBC (hat tip reader Skippy)
We are all Melmottes now John Quiggin
Unthinkable? Britain copes with snow Guardian
Consumer Credit Drops Record $17.5 Billion; Steepest Declines Since WWII MIchael Shedlock
The Obama Administration Wants to Annuitize Your 401k’s and IRA’s Jesse. Eeek! And why should those of us who have managed our affairs so as not to suffer falls in value in these accounts be subject to this form of torture?
HIndsight Is Not 20-20: The NYT Has the Proof Dean Baker
Antidote du jour (hat tip reader Barbara):
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“Dark matter ‘beach ball’ unveiled”
Oh dear, and they call this fantasy ‘science’.
“Unthinkable? Britain copes with snow”
Meanwhile in this part of the world, 42 today, 43 the next 2 days. A tad on the hot side, hasn’t rained for a while either, so a tad on the dry side too.
I’m not a scientist but I do sort of surf the no-ousphere and see what’s up there, mostly using the DNA radio to tune in the big Mind Wave, that contains all past present and future, like a huge library outside of time — and what is there is often more true and real than science, which strains at it.
I took art lessons for a while and intensively studied artistic anatomy. I would talk with the instructor alot, who was a fine painter and a very thoughtful person, and we agreed that there are Neanderthal descendants walking the streets of New York every day. Based on direct observation of bone structure.
There’s no doubt that that dude in the article could walk down Broadway in broad daylight and nobody would think twice about it. And they had bigger brains than we do and they buried their dead. They probably lost out to humans because they were gentle of soul. Even though the were ugly as hell. ha ha hahahah.
John Quiggin reminds everyone that growth via credit expansion will be more expensive now and in the future.
We are all Melmottes now John Quiggin:
“Until recently, the checks could also rely on the assumption that people would be more-or-less honest in the information they provided in their applications. The financial system, by promoting ‘liar loans’ colluded in the destruction of the second assumption, and by leading the way in strategic default, helped to destroy the first.”
I disagree. When I got my mortgage in 93, it was records, records, and more records. And after that…get all the records notarized, for which we charge a small fee. And I was a gubermint employee in a steady job, with my mortgage backed up by the VA.
The bankers acted greedily. I used to think that they were stupid, but none of the guys who ran the banks gave back any of their sky high renumeration, bonuses, and benefits.
Ok, I didn’t make myself clear – Quiggin states:
“It’s worked for several decades on the basis of creditworthiness criteria that work on the assumption that (nearly) everyone will repay their debts if they can.”
No, No, NO. It worked because of “trust, but verify” – if you leave out the trust part. Income, job, past payment history was checked. And people paid back because they had an incentive to do so – they paid a realistic market price for the house, financed by simple but fair loans, and by keeping the house for a long time they could sell it, and if not make a profit, at least have a significant amount of cash, for either retirement or to relocate.
Bankers have to return to evaluating borrowers because lending money to anyone was a scam for the benefit of bankers.
Fresno Dan,
The web page you linked the other day has a superb post on this subject:
http://www.doctorhousingbubble.com/the-financial-psychology-of-moral-hazard-and-strategic-defaults-how-to-destroy-the-economic-fabric-of-society-by-providing-benefits-for-financially-irresponsible-bets-on-housing/
I’m really quite impressed with the analysis this guy does. Thanks again for the heads up.
The Quiggin post I thought was much weaker, even though I found some of the comments quite interesting.
Shouldn’t we segregate birds from pigs?
The last thing we need these days is to cross the bird flu virus with the pig flu virus. Then the new species who will replace us would marvel at how we Homo Not-So-Sapiens Not-So-Sapiens could pass as them walking among the new masters of the world.
PS: I know it’s a cat and not a pig, but being a proud graduate of Beverly Hills School of Visionaries (after I dropped out of the Beverly Hills School of Celebrity Astronomy – we studied movie and rock stars – all gaseous by the way, and not the real rocky and gaseous stars in the sky), I can see the feline flu just around the corner. Stay ahead, that’s our motto.
OK, I confess. The reason I dropped out of Beverly Hills School of Celebrity Astronomy was because the competition with them Goldman Sachs boys and girls was too just brutal, very tough.
Very interesting, Dr. Law’s discovery. Coming to you very soon in physics textbooks – Law’s Law.
When I saw the picture of that Neanderthal, I recognized him immediately. I dated his sister! She wore make up, punk style;
jewelry, seashells; and furs that were still fashionable in those days. We had great sex as she kept saying, I can’t get pregnant, at least not by you.
there was some other Neanderthal illustration, I forgot where, about a year ago. some magazine. They showed a couple of young women with blond hair and somewhat strange faces, but wow, I tell you. If I saw one of them at a nightclub I’d have no problem at all striking up a discussion. ha ha ha. but I think she could have gotten pregnant. I see that genepool on the streets every day.
to Yves Smith
how can I send, a spetacular “antidote du jour” photo to YS. I can not see any e-mail adresson the site.Could you foward me your e-mail, please.
P.S. Love your blog.
Andre Barata
Portugal