Showing posts with label news. Show all posts
Showing posts with label news. Show all posts

25 May 2009

women's tennis...

this may come across as a bit misogynistic, but i've been watching the first round play of the French Open since 6 am or so. i have always wondered why most of the women, especially Serena and her sister, have to grunt so loud every time they hit the ball.

some of the men do it too, but not as loud, it seems.

i wonder if they're loud in bed?

they need to be careful at Wimbledon. a woman in England may go to jail because she was cited a third time for having sex that was too loud!

i'm not making that up; check it out yourself -




Hysterical Dog.gif
shut up, Maxx!
there's a reason i don't have the sound on
when you're in a post...

05 April 2009

obfuscations in the news: and they say guns don't kill people...?

though this may not really count as an obfuscation, the news that the gunman who killed three policemen in Pittburgh said it's because of his fear that the Obama government was going to take away his right of owning guns. huh?
Poplawski's [the shooter] friends at the scene described him as a young man who thought the Obama administration would ban guns.

One friend, Edward Perkovic, said Poplawski feared "the Obama gun ban that's on the way" and "didn't like our rights being infringed upon."

Another longtime friend, Aaron Vire, said he feared that President Obama was going to take away his rights, though he said he "wasn't violently against Obama."

KDKA (CBS Affiliate), Pittsburg

and Crooks and Liars connects his thinking to the vitriol of the likes of Glenn Beck. well, it's not really much of a leap.
He feared an Obama gun grab? Gee, I wonder where he could have heard that.

Indeed, a story replete with NRA-style fearmongering about the looming "grab" -- which has been fueling a run on guns at local shops -- ran just three days ago in the Pittsburgh Tribune.

We've been reporting for awhile on the surge in gun sales, and how the paranoia around guns is making the more unstable elements of the right particularly edgy. Inevitably, that edginess is going to break out into actual violence -- as it appears to have done today.


i have no problem with people having guns for recreational purposes, though i would never have one. but no one in the NRA or any other organization has successfully convinced me how an automatic, rapid fire gun is in any way recreational. it is purely for one thing - taking human life!

30 March 2009

obfuscating obfuscations...

Yesterday's New York Times Magazine had a great article on Freeman Dyson, one of the most brilliant people who have lived, at least in the 20th Century. As one piece of evidence was the idea that his college mentor told him that a Ph.D. would be totally useless for him. He knew more than anyone else already.
Among Dyson’s gifts is interpretive clarity, a penetrating ability to grasp the method and significance of what many kinds of scientists do. His thoughts about how science works appear in a series of lucid, elegant books for nonspecialists that have made him a trusted arbiter of ideas ranging far beyond physics. Dyson has written more than a dozen books, including “Origins of Life” (1999), which synthesizes recent discoveries by biologists and geologists into an evaluation of the double-origin hypothesis, the possibility that life began twice; “Disturbing the Universe” (1979) tries among other things to reconcile science and humanity. “Weapons and Hope” (1984) is his meditation on the meaning and danger of nuclear weapons that won a National Book Critics Circle Award. Dyson’s books display such masterly control of complex matters that smart young people read him and want to be scientists; older citizens finish his books and feel smart.

The title of the article refers to Dyson being a heretic because he just doesn't see global warming as a real threat. In a nutshell, he says that people like Al Gore and James Hansen, the major proponents of the crisis, are merely believing their own hype. Dyson, on the other hand, says it is not really a crisis of the magnitude they say - yet - nor will it necessarily become one. It's nature doing what it does.

One of the things he cites is that cooler places may be getting a little warmer but hot places are not, and it is really limited to specific areas where there is a CO2 problem.

Personally, I've not liked the term global warming. Instead, I have preferred climate change because it more accurately describes what is happening in different parts of the world. It also is not as frightening. The earth has recorded many climate changes over the millenia. Maybe we are quickening this one, but who is to say that it is not just a normal process that is supposed to happen?

The article on Dyson is fascinating for many other reasons and I really recommend spending the time reading it. He is a subversive as he calls himself and truly brilliant in many areas. He has spent his life obfuscating obfuscations...

Again, its The Civil Heretic

a great solution...

Patriotic Retirement - This Would Work:

This was an article from the St. Petersburg Times Newspaper on Sunday. The Business Section asked readers for ideas on "How Would You Fix the Economy?" I thought this was the BEST idea. I think this guy nailed it!

Dear Mr.President,

Patriotic retirement:

There are about 40 million people over 50 in the work force;
pay them $1 million a piece severance with stipulations:
1) They leave their jobs. Forty million job openings - Unemployment fixed.
2) They buy NEW American cars. Forty million cars ordered - Auto Industry fixed.
3) They either buy a house or pay off their mortgage- Housing Crisis fixed.


All this and it's still cheaper than the "bailout".


This is for real. You can find information here and here

this sounds too simple. Well, maybe simple is what is needed. All of the experts, like Krugman, have their talking points that I bet are there just so they don't lose their jobs. However, they really haven't been doing their jobs, have they?

07 March 2009

obfuscations in the news...

Brazilian archbishop embroiled in abortion row after child's rape
from IrishTimes.com
the quote:
“There are two legal justifications for abortion envisioned by the law, which are rape and risk to life. She [the girl] falls within the two and, as a doctor, I could not let a girl of nine years be submitted to this suffering and even pay with her own life.”

But Archbishop Cardoso Sobrinho has dismissed the fact that the abortion was legal under Brazilian law as irrelevant to the question of excommunication. “God’s law is above whatever human law. So when a human law is contrary to God’s law, this human law has no value,” he said.

02 December 2008

what's wrong with this picture?

It is a photo of one of the terrorists at the Mumbai train station, and the only one captured alive.



Mumbai Surviving Terrorist.jpg



And Gulf News has an interview with Sebastian D’Souza, the Mumbai Mirror photographer who took the chilling photographs of Mr. Qasab [also identified as Azam Amir Kasav] in the train station. Mr. D’Souza jumped from train to train on the platform, evading gunfire, in order to get the photographs, which show Mr. Qasab advancing, wearing cargo pants, a Versace T-shirt and black sneakers, with an assault rifle in hand.
New York Times, Tuesday, December 2, 2008



wearing cargo pants, a Versace T-shirt and black sneakers?

something tells me that this is not something bin Laden, Muhammed, or any of the Islamic fundamentalists would approve.

Versace!

so how are we to take them seriously? they throw down denunciations of everything western and American and they wear Versace clothing to kill people.

that is how we are to take them seriously - as hypocrites, just like everyone else.

think about it. bin Laden himself is a multimillionaire from Saudi Arabia. they use all types of funding from sales of drugs, arms and contraband. they are just like every other organization that is into power and domination. they don't do things for their god. they do things for themselves.

the sad thing? i think that we are in for a very long period of these terrorist hypocrites. their egos have become huge. their dementia has taken on gigantic proportions. their need to use others to fulfill their needs by causing death of innocents as well as the believers they've duped to do their nasty deeds surpasses any legitimate reasons they give.


just another thing to multiply the funk i've been in for the last couple of weeks.

24 October 2008

and now the New York Times...


Hyperbole is the currency of presidential campaigns, but this year the nation’s future truly hangs in the balance.

The United States is battered and drifting after eight years of President Bush’s failed leadership. He is saddling his successor with two wars, a scarred global image and a government systematically stripped of its ability to protect and help its citizens — whether they are fleeing a hurricane’s floodwaters, searching for affordable health care or struggling to hold on to their homes, jobs, savings and pensions in the midst of a financial crisis that was foretold and preventable.

As tough as the times are, the selection of a new president is easy. After nearly two years of a grueling and ugly campaign, Senator Barack Obama of Illinois has proved that he is the right choice to be the 44th president of the United States.

The Times lays out a very logical and step-by-step explanation of the endorsement. It is worth reading the entire editorial. (just click on the link above)

The last three paragraphs sum it up succinctly:
Mr. Obama has withstood some of the toughest campaign attacks ever mounted against a candidate. He’s been called un-American and accused of hiding a secret Islamic faith. The Republicans have linked him to domestic terrorists and questioned his wife’s love of her country. Ms. Palin has also questioned millions of Americans’ patriotism, calling Republican-leaning states “pro-America.”

This politics of fear, division and character assassination helped Mr. Bush drive Mr. McCain from the 2000 Republican primaries and defeat Senator John Kerry in 2004. It has been the dominant theme of his failed presidency.

The nation’s problems are simply too grave to be reduced to slashing “robo-calls” and negative ads. This country needs sensible leadership, compassionate leadership, honest leadership and strong leadership. Barack Obama has shown that he has all of those qualities.

of course, now remember, this paper is in one of the two elitist cities that Mr. McCain talked about - McCain: Washington D.C. and NYC = Fake America - in an interview he and Palin just did with Brian Williams of NBC.

oh, yeah. The Washington Post endorsed Mr. Obama.

those damn elitists...

04 August 2008

Westboro Baptist Church arson; their response?

Here come da judge. Here come da judge.


Early Saturday someone set fire to the garage behind the Westboro Baptist Church in Kansas.


So, what did they do? They got out their signs and picketed. What would you expect? They also filmed what the firefighters were doing, and they put out a response on what they believe is behind it. [you don't have to watch it, if you don't want to.]


Thank God for WBC Fire


It was the judges' who consistently rule against them and do everything to push the faggot agenda that were behind the fire. Of course, it is. There is a vast conspiracy against the First Amendment from the fag-loving media to the Bush/Cheney administration's Homeland Security measures. It's all there for you to see.

Except there is one major problem. Mr. Phelps wants the media to be controlled but the First Amendment reads "Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press...;.

so, needless to say, i'm confused [as is often the case]. either you have a press that is unencumbered to report freely or you don't. you either have a government without religious establishment or you don't. you can't have it both ways.

or can you?

02 July 2008

right-wingnuts may be, umm, right...

from today's Chicago Sun-Times:

URHAM, N.C. -- Durham County Democratic Party officials are shocked about allegations that a local Democratic leader was involved in satanic rituals that included shackling people to beds, caging them, and depriving them of food and water.

Joy Johnson, 30, a third vice chairwoman of the county Democratic party and vice chairwoman of the Young Democrats, was charged Friday with two counts of aiding and abetting.

wait! a question...

can satanic worshipers/religions qualify for faith-based governmental initiatives?

just asking...


pentagram.gif

15 May 2008

our priorities ARE obvious...

While the national news networks, pundits, and blogs are salivating at John Edwards endorsing Obama for the Democratic nomination, we here in Chicago have our priorities screwed on straight. Note the front page of today's Chicago Sun-Times below.



Chicago Sun-Times Foie Gras Banner.png




You see, there are other things that are more important than the national beauty contest that has been driving the media rabbits into a frenzy.

Isn't it interesting that Obama's hometown paper would dare to cover the foie gras story as its lead over his move to garner support from working-class white voters?

just asking...


[Check out the little headline at the bottom center of the page: Sandi Jackson might run for Congress too. Why? Who is Sandi Jackson? She is the wife of Rep. Jesse Jackson Jr. and the Alderperson for the ward my former school was in for just the past year. Another husband-wife dynasty in the making? you ask. Don't they live together?, you ask. Seems the law is you can run for any congressional district you want and not live in it. You have to move there if you are elected. hmmmm? You see, another case that points out that we have our priorities set in Chicagoland...]

19 March 2008

Sir Arthur C. Clarke, 1917 - 2008



In 1945 Sir Arthur C. Clarke developed a revolutionary way, for which he was paid £15, to improve communications as well as many other things that are now common every day workings to which we pay no attention. He conceptualized geosynchronous orbits [now known as Clarke Orbits] as a way of allowing satellites to remain in a stationary orbit around the earth to improve communications, cable and satellite television, GPS, spying, and weather reporting, among many other things, that became easier and more precise. Of course, the first satellite, Sputnik, did not go into orbit until 1957, twelve years later. Forward thinking, no dreaming, is such an important part of life and Sir Arthur was a genius at it.

He was asked of which of the three main accomplishments in his life, writer, undersea explorer and space promoter, he would best liked to be remembered, he responded, writer. I spent hours reading his words over the years. Rendezvous with Rama is by far my favorite of his works, though 2001: A Space Odyssey is probably his most noted.

Sir Arthur died yesterday at the age of 90 in his adopted home of Sri Lanka with the hope that the ongoing civil war there would come to a peaceful end. His latest novel, The Last Theorem, co-written with Frederik Pohl, will be released later this year. I can't wait to read it.

02 January 2008

blog post/news must reads: January 2, 2008...

Looking at America editorial in the New York Times - this makes me very sad and wanting to cry...

Huckabee wants to take America "back to Christ" over at AmericaBlog.com - of course, this leaves out Jews, Muslims, Hindi, etc, but the bigger problem just may be what kind of Christian is he talking about? There are many types of Christians - Catholic, Episcopal, Baptist, Methodist, etc, or is it just his kind of Christianity?

I Am Conventional Wisdom: An Unstoppable Zombie Wreaks Havoc On America: Arriana Huffington over at Huff Post - the lie of Conventional Wisdom perpetrated by Bush/Cheney, et alia, for the last seven years haunts us even through the 2008 election...

Doubts Raised on Technology Sales to China: from the New York Times - China already owns the U.S. because of all the loans Mr. Bush has gotten to keep his war going, but even with his song of national security he still leads his choir in Money makes the world go around, the world go around, the world go around, Money makes the world go around, of that we both are sure. (Raspberry) On being poor...

Pat Robertson's New Year's Forecast: "China Will Be The Largest Christian Nation On Earth" from Pat Robertson's 700 Club via HuffPost - if we owe them so much money, let's just bring 'em into the fold...

Attorney General Mukasey appoints outside prosecutor in criminal probe of CIA torture tapes - at Cliff Schecter's web site. This does bear watching. Gonzales refused to investigate any of the Bush/Cheney flubs. This guy is at least starting to go through the motions. we'll see..

03 December 2007

if you have a theatre, symphony, sports, dance or opera subscription...

you may not know the name Danny Newman but he had a direct bearing on your life, especially with the 10% discount you usually receive from having that subscription.

Danny Newman wrote the book on subscriptions, Subscribe Now!, that is still used today as the bible for most organization in the arts and other areas. One could say that he single-handedly help save the arts in the world.

He was also the co-founder of the Lyric Opera of Chicago along with Carol Fox and a few others, not only one of the premier opera companies in the world but also one of the most successful.

Danny died this weekend at the age of 88. He was a marvel.

I met Danny a number of times over the years, with the restaurant at which I worked and through friends. He could not be easily forgotten. He had a story about everything in the arts and everyone in the opera world. Yet, I never heard a disparaging word from him on anyone. Heaven knows, in my life, I have heard some hair-raising stories about some very famous people. [AND no, i won't tell.] You can read some of the stories in a book he wrote last year - Tales of a Theatrical Guru. There are stories in it from Luciano Pavarotti to Jimmy Durante to Stan Laurel and Oliver Hardy to Maria Callas.

Danny also was famous at the Lyric as the bearer of bad news. If Danny walked out on stage before a performance, you would hear 3,2000 people groan all at once. He was there to announce that one of the singers had cancelled tonight's production. If you were lucky, he was announcing that "though indisposed by a cold, ________ has graciously decided to sing tonight and begs your understanding and forgiveness." John Von Rhein of the Chicago Tribune portrayed it best in today's obit:
"La-dies and gen-tle-men ... " he would begin, his voice ringing with clarion fervor, like a latter-day Moses delivering the 10 Commandments.

Before he retired, he was also the voice that you heard asking you to turn off your pagers and cellphones. No one ever booed..., they usually applauded.

It was always a warm and pleasant feeling when you saw Danny and you always ended up laughing. Appropriately, the Lyric named its Box Office after him when he retired. Talk about a fitting gift to the man who gave to so many others...

27 November 2007

Chicago Sun-Times: Shock makes Cheney's heart OK...

on page 26! and this was the entire story:
WASHINGTON -- Doctors administered an electrical shock Monday to Vice President Dick Cheney's heart and restored it to a normal rhythm. Cheney went home after the procedure. AP

two sentences, buried in a small corner on a back page...

were that it was this simple...

does it count as understatement or hyperbole?

just asking...

24 November 2007

another one bites the dust...

a Bush buddy that is. This one's not in the U.S.

Prime Minister John Howard, a staunch support of the Tsar's policies concerning Irag and a staunch conservative in Australia, had what the New York Times is calling "a comprehensive defeat". He also lost his own seat in Parliament. The first Prime Minister to ever do that.

Early estimates had the Labor party gaining some 20 seats, to gain a14-seat majority in the 150-seat lower house. Television prediction seven had John Howard suffering the indignity of losing his own seat in the Sydney suburb of Bennelong in parliament to a former television anchor and rookie politician, Maxine McKe

The new Prime Minister, Kevin Rudd, a Labor Party leader, is 50 years old and promises to bring change in order to meet the challenges facing the country. He also is seen quite differently than Howard.
Mr. Rudd’s rather dry image was if anything enhanced by the revelation which emerged shortly before the beginning of the campaign that he had got drunk and visited a strip club when he was on a visit to Scores New York in 2003.

“He seems more personable, approachable,” Marcelle Freiman, a university lecturer with two children, who voted for Mr. Rudd in eastern Sydney said. “He doesn’t seem arrogant yet and I have respect for him.”

I think the word arrogant is telling. It's a reaction to the years where leadership has been, as in the U.S., based on hard-nosed near-authoritarian government that has a mindset of "We know what's good for you better than you do. In a world where things are changing at an extremely fast rate because of technology, people are tired of waddling in the backwaters of antiquated thinking that put restrictions on everything.

Mr. Rudd has made very clear what his priorities are:
He has said his first acts as prime minister will include pushing for the ratification of the Kyoto climate agreement and to negotiate the withdrawal of Australian combat troops from Iraq.


This election is also telling because of what it forbodes for the United States. The seeds were planted with last November's midterm Congressional election. You can see it in the fighting going on in the primary races going on right now. The Republicans running for the presidential nomination are all over the map and seem lost and floundering. The Democrats, on the other hand, are similar in their differences. I'm certain thatif Mr. Bush were running for reelection we would be seeing a very different fight going on in the U.S.

On top of all of this the Tsar has another support problem. A second of his buddies is gone. Poland elected a new Prime Minister also and his actions speak in this headline from HuffPost - PM: Poland to End Iraq Mission in 2008

With the rats leaving the ship in the US [think Karl Rove], talking mouthpieces revealing secrets [Scott McClellan' s book What Happened], and now Australia and Poland no longer supporting the excursion in Iraq, the Tsar must really be having a bad day.

let's keep the momentum going...

11 November 2007

trying to catch up...

but it is impossible. Everything moves so fast and with no stopping. I've been out of touch with what's going on with the blogs, pundits and news this week, working and all, so I've been trying to see what I missed.

So far, it seems to be same old, same old. I mean, the big stories are dealing with if or how much Hillary tipped at a restaurant. Give me a break. The waitress had the best retort of all:
Esterday (the waitress) herself said it best: "You people are really nuts. There's kids dying in the war, the price of oil right now — there's better things in this world to be thinking about than who served Hillary Clinton at Maid-Rite and who got a tip and who didn't get a tip."

Pat Robertson endorses Rudy Giuliani... Here's the rub though -
A Politico review of the 75 judges Giuliani appointed to three of New York state’s lower courts found that Democrats outnumbered Republicans by more than 8 to 1. One of his appointments was an officer of the International Association of Lesbian and Gay Judges. Another ruled that the state law banning liquor sales on Sundays was unconstitutional because it was insufficiently secular.

ENDA passed in the house - with out the T - but some people aren't too happy about it, and others are asking when did the T have anything to do with LGB? Rex Wockner puts it out there -
I've been sitting here sort of picking my own brain and asking myself if gay and trans people do in fact have some crucial thing in common. I've read tons of opinion pieces and blog posts on the ENDA war in recent weeks, but none of them really opened my eyes. What do I have in common with a guy who wants to remove his willy, grow breasts, become a woman and get married to a man? From where did this relatively new concept of "the LGBT community" come?

The one recurring issue seems to be when the he becomes a T, the T can legally marry and the T hasn't done anything in support of the LG's getting married. Oh, the B's aren't in there because they can marry - but only to a person of the opposite sex though. [I'm confused!]

Mukasey was made Attorney General even though he isn't sure if waterboarding is torture because he hasn't been given all of the information required to understand the concept because he hasn't been made Attorney General and can't be privy to classified information. Huh? Couldn't he just look it up on Wikipedia?
Waterboarding is a torture technique that simulates drowning in a controlled environment. It consists of immobilizing an individual on his or her back, with the head inclined downward, and pouring water over the face[1] to force the inhalation of water into the lungs.[2]

Andrew Sullivan is just in hate [or is it heat?] with the Clintons. Some of his comments this week seem, errr, prosaic? Some of his post titles this past week -

Classic Clinton Spin
A Classic Clinton Lie?
Clinton and the Polls
Why The Hannity Right Wants Clinton
Thatcher vs Clinton
The Clintons: A Continuing Mini-Series
A Clinton Bimbo Eruption?

Oh, wait. These aren't from last week. They are since Thursday, November 8, 2007. That's just the last three and a half days. my bad...

As the nephew says, "Chill, Dude." It's 359 days until the real election.

That Republican in Florida who got caught offering an African-American officer $20 for a bj in a public park because he was afraid the big guy might hurt him was found guilty of soliciting prostitution.
State Rep. Bob Allen faces up to 60 days in county jail and a $500 fine for soliciting prostitution, a second-degree misdemeanor. The Merritt Island Republican was accused of peering over a stall at Titusville officer Danny Kavanaugh, then agreeing to pay $20 to perform oral sex on the policeman.

Let's see... that's 25 fewer bj's since he's now $500 poorer. On the brighter side, it will be 60 days of fun, fun, fun...

ON a lighter note [maybe it's heavier?] - Gay Men are Bigger and Now There's Research to Prove It. You think I'm gonna touch this one? You gotta click and read it for yourself. oh, my...

Maybe, I should take a week off at least once a month from serious blogging. this was fun...

08 September 2007

Craig's children support and defend him...

uh-huh.

Children do that, but, both is stepson and stepdaughter are not the best people to come to any kind of character defense.

From ABC News
Craig Family Values: Arrests, Warrants and Restraining Orders

moneyquote -

But the criminal records of Michael Craig and his sister, whom Sen. Craig adopted after marrying their mother, Suzanne, in 1983, not only call into question their credibility as character witnesses but may even further undermine Craig's portrayal of himself as a defender of family values.

At least two women have sought restraining orders against Michael Craig, who was once charged with statutory rape, though the charge was dismissed. He did not return a call for comment. And at the time of Howell's appearance on "Good Morning America" there was a warrant out for her arrest resulting from her allegedly breaking into her estranged husband's home and destroying property.

Of course the Sen. Craig and his wife have their response [you can find it in the article at the ABC link above] and it sounds considerably like a line from the play/movie The Lion in Winter
Eleanor of Aquitane: Well, what family doesn't have its ups and downs?

this is a real trailer-trash soap opera. if you agree, tap your foot three time...


9088~Trailer-Park-Trash-Posters



and that reminds me of a great line by Alonzo Bodden
I didn't understand NASCAR until I met some NASCAR fans. You talk to a couple of NASCAR fans and you'll see where a shiny car driving in a circle would fascinate them all day. I can make fun of NASCAR fans because if they chase me, I just turn right.

04 September 2007

Breaking: Sen. Craig may not resign...

just reported on Countdown with Keith Olbermann and from an ABC affiliate.

just like an old queen. can't make up her mind...

01 September 2007

craig's resignation statement...

You can read it here - New York Times, September 1, 2007.

It is a serious, thoughtful and well written statement. I have not heard a recording or seen a video of the statement yet, but I will when I get time. Consequently, I can't comment on his tone, expression, etc. right now - only on the words.

On my first reading, I had one continuous thought - "Craig didn't write this." Reading it a second time I continued to thing the same thing.

In reading and hearing other things he has said, it not only doesn't sound like his use of words, but it is very well written. Not something that I have noticed in previous things of Sen. Craig's.

I don't understand the September 30th thing. The Republican leadership and members leave themselves open for 29 days more days that could lead to even more disaster. They have been very good at this as of late.

Maybe this was a compromise with Craig to get him to resign. It may also have been an attempt at face-saving for whom I'm not sure. We'll see...

10 August 2007

today's foreign headlines about the economic "crisis"...

Le Monde - France

Les Bourses européennes continuent de plonger
The European Stack Exchanges continue t0 plunge

Des doutes sur la solidité des banques et de la croissance
Doubts about the solidity of the banks and growth

Les banques centrales tentent d'endiguer la crise financière
The central banks try to shore up the financial crisis


The Daily Telegraph - England

Global stock markets tumble as sub-prime contagion spreads

Market volatility hits highest since 2003

Deutsche Well - Germany (in English)

ECB Fund Injection Leaves Investors in a Fog

Germans Wary of Stock Market

International Herald Tribune

Shaky markets prompt rumors of who's in trouble

Central bankers take action as the rout in global markets deepens

Europe slammed by U.S. credit crisis


and, finally, Paul Krugman's OpEd from today's New York Times

Very Scary Things

moneyquotes:
- What’s been happening in financial markets over the past few days is something that truly scares monetary economists: liquidity has dried up. That is, markets in stuff that is normally traded all the time — in particular, financial instruments backed by home mortgages — have shut down because there are no buyers....

- The origins of the current crunch lie in the financial follies of the last few years, which in retrospect were as irrational as the dot-com mania. The housing bubble was only part of it; across the board, people began acting as if risk had disappeared....

- When liquidity dries up, as I said, it can produce a chain reaction of defaults. Financial institution A can’t sell its mortgage-backed securities, so it can’t raise enough cash to make the payment it owes to institution B, which then doesn’t have the cash to pay institution C — and those who do have cash sit on it, because they don’t trust anyone else to repay a loan, which makes things even worse.

And here’s the truly scary thing about liquidity crises: it’s very hard for policy makers to do anything about them....

- But when liquidity dries up, the normal tools of policy lose much of their effectiveness. Reducing the cost of money doesn’t do much for borrowers if nobody is willing to make loans. Ensuring that banks have plenty of cash doesn’t do much if the cash stays in the banks’ vaults.


on a brighter note, the Dow Jones Industrial average is only down -77.64 as of 1:15 pm EDT.

rebounds can come in small packages...