Dutch city awards credit points to well-behaved street prostitutes BBC. I am surprised at this sort of program. The street hookers in Kings Cross in Sydney are uniformly, shall was say, professional. But maybe it is a function of supply and demand. There are probably proportionately fewer girls on the street in Sydney than in most Dutch cities.
Mobile phones to track carbon footprint Guardian
Australians urged to eat kangaroo BBC.
Do We Live in a Giant Cosmic Bubble? Live Science. This is a cosmological, not a financial, question.
Small Businesses Frozen by Crisis Louis Uchitelle, New York Times
Thomas Friedman: Another Example of Bailout Support Due to Unthinking Fear and Anger Dean Baker
Armageddon Trade of the Day (10/1/08) EconomPic Data
From central bank to central planning? Brad DeLong, Project Syndicate (hat tip Mark Thoma)
The origins of the crisis Willem Buiter
Tax Cuts of More Than $100 Billion Passed With Senate’s Bank-Bailout Bill Bloomberg. I was angry about the bill before, and now this….
Antidote du jour:
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Help, “they” are playing games with my mind. I went to senate.gov to review the rollcall on the bailout bill vote. And the site mockingly informs me that the title of the bill is:
H.R. 1424 — Paul Wellstone Mental Health and Addiction Equity Act of 2007
http://tinyurl.com/53t5b4
I am typing this from Bellevue, where they put me into a recovery group.
Juan: “Hello, my name is Juan, and I am addicted to paper money.”
Others: “WELCOME, JUAN!”
Little do they know, it’s just a manipulative act. It took sociopathic skills of a high order to become a U.S. Senator. I’m already thinking, “Me Senator! Me spend trillions! Welcome, lobbyist humans! Ah ha ha ha …”
— Juan Falcone
This panda is very cute!
And this comment is very useless.
Bloomberg : “Fed May Lose $6 Bllion on Bear’s Assets, Bank of America Says.” To be announced today – that should help concentrate minds in the House vote on the bailu-out.
Sarkozy may have sudeenly noticed that via Eurobank CDS exposure to AIG, and via the US bailout of AIG, the US has the European banking system by the throat.
Dah, posted in wrong thred.
I had read Uchitelle’s article in the NYT, and the title is screamingly disingenous. The folks U. interviews _are able to get credit_, and without excessive problems. It costs more, and business is down so they’re borrowing less. But in an article the goal of which is to show ‘that the credit squeeze is hurting small business,’ the reporter couldn’t even find a small business genuinely in a pinch. —So his editors went and head and lied-up their scare tactic leader anyay. Tight credit can hurt small businesses, and in time very probably will, but the pinch just hasn’t come there yet, and lying about this to work up momentum to ease the very real squeeze on big financials is despicable.
At $100B in tax _giveaways_ when we desperately need to raise public revenue, in order to buy twelve votes in the house, that comes to $8B and change per vote. “Cheap at twice the price!” cry the banksters . . . especially since it’s cost-plus accounting, with the public paying, not the Pigout participants. This entire opera in the Congress is breathtaking in its unscrupulous theft. Really, I can’t believe I’m watching this. All that’s left is the last act with Congressmalefactor’s skulking out of their office buildings with personal suitcases bulging with uncut diamonds—and that’s because these are going to be [metaphorically] delivered by chauffer to their home addreses. I think of numerous films I have seen where the designated Greedy Miser in crisis times, trailing out of the burning city or through the trackless wilderness with a Disraught Band of the Commoners, abandons this item and that, to be seen in the last reel without canteen, compass, abandoned by companions and flunkies, still lugging their satchel of gold coin with their last tottering steps before collapsing alone in the wilderness. *sheesh*
Wilbur Ross has his own idea of a rescue plan.
However, what caught my eye was a Plaboy story:
http://www.cnbc.com/id/26986570
The dutch city mentioned in the article is Eindhoven, a provincial town.
In Amsterdam the union of prostitutes just reported a price decline of about 40%. They blame the credit crunch.
Betty
Well, then, Betty. We must get Uchitelle and the Eindhoven prostitutes together to salvage that NYT lede!
This panda was at The Senate yesterday begging for an extension for a tax credit. How sad that this critter had to lobby in person, IMHO, Congress should not force lobby groups to show up in person, because what chance does a cute panda have, when so many cute coke snorting pages are in the laps of all these Congressmen? Disgusting and unfair, send Congress back to the zoo and work on reforms.
What is really sad, is that this is a young male…. and it still didn’t work, damn!
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.”
Thomas Jefferson 1802
From what I understand, banks are hoarding cash because of the October auction month where all of these dodgy CDS and derivative are required to be settled. The banks have no idea of their exposure to this dodgy paper and need all the cash they can get. For many, they simply won’t have enough – more bank collapses.
http://marketpipeline.blogspot.com/2008/10/credit-derivatives-market-faces-biggest.html