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'Cicero' Archives

Sand Dollars

By 'Cicero' at 11:54

I know very little about currency markets, but this sounds ominous:

Fears of dollar collapse as Saudis take fright

Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.

"This is a very dangerous situation for the dollar," said Hans Redeker, currency chief at BNP Paribas.

"Saudi Arabia has $800bn (£400bn) in their future generation fund, and the entire region has $3,500bn under management. They face an inflationary threat and do not want to import an interest rate policy set for the recessionary conditions in the United States," he said.

The Saudi central bank said today that it would take "appropriate measures" to halt huge capital inflows into the country, but analysts say this policy is unsustainable and will inevitably lead to the collapse of the dollar peg.

As a close ally of the US, Riyadh has so far tried to stick to the peg, but the link is now destabilising its own economy.

The Fed's dramatic half point cut to 4.75pc yesterday has already caused a plunge in the world dollar index to a fifteen year low, touching with weakest level ever against the mighty euro at just under $1.40.

There is now a growing danger that global investors will start to shun the US bond markets. The latest US government data on foreign holdings released this week show a collapse in purchases of US bonds from $97bn to just $19bn in July, with outright net sales of US Treasuries.

A reasoned debate on this would be beneficial. For me, at least.


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  • TOC: #42 from Treefrog at 7:34 pm on Sep 22, read more
  • J Thomas: China had the Cultural Revolution within living memory. For that read more
  • Treefrog: The Chinese people have been sold an incredibly flawed Bill read more

July 21, 2007

Blossoms on Trees Glistening in Bright Sunlight in a Green, Bird-filled Landscape

By 'Cicero' at 12:40

My friend Nortius Maximus sent me this.

It's art like this that gives me hope that there is much more to humanity than God, no god, politics, war, tribes and the millions of different ways to defend entrenched philosophical ramparts. Look at this stuff. It's so refreshing. It's like a beautiful, unforgettable spring day. Breathe in, and take in the blossoms on the trees. They glisten in the bright sunlight.

There's a green, bird-filled landscape of possibilities, not just the orthodoxy of the past.


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  • celebrim: I think we are going to be reduced to arguing read more
  • mark: celibrim: "Most modern artists do what they do not because read more
  • Celebrim: "If I understand you correctly, skill in execution, that is, read more

Youth, Interrupted

By 'Cicero' at 05:15

Somewhere I was listening to an interview with a witness of the Kent State massacre in 1970. The horror of the campus killings 37 years ago were compared to events at Virginia Tech.

Hearing about Kent State reminded me how that massacre helped to forge a generation. So too will Virginia Tech, though quite differently.


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  • Jonathan: Always attack! Yes you may die but at least you read more
  • Jim Rockford: Good points but a couple of minor nits to pick: read more

Running Interference

By 'Cicero' at 04:16
I live in Boston's backyard. I've been hearing the buzz and fuss about the 'Aqua Teen Hunger Force' guerrilla marketing campaign snafu:
The US city of Boston was snarled in traffic jams January 31st as police investigated hoax boaxes with flashing lights placed around bridges all over the city. Turner Broadcasting Systems had hired people to plant the strange devices around the city of Boston to market a television cartoon called "Aqua Teen Hunger Force" which has a movie coming out February 23rd. Road and rail traffic was disrupted by the Police as they investigated the hoax and removed the boxes within emergency protocols for bomb scares. Two men alleged to have placed the boxes have been charged, and Turner Broadcast Systems apologized. Boston's mayor will pursue compensation to the city for the cost of the scare.
The media circus seems to have oscillated around this event. Most people think Bostonians have overreacted. I agree.

If this were just the work of renegade guerilla artists, it would be one thing. But this isn't quite that.

Guerrilla tactics are flourishing in the hyper-networked age. We see the guerrilla meme changing the nature of war, marketing and advertising -- even childhood. We see it in art, as a form of expression.

The magnetic lighted boards planted in Boston by Berdovsky and Stevens were a kind of guerilla art that is ultimately funded by a large entertainment conglomerate -- Turner Broadcasting. It was apparently the brainchild of Interference Marketing, Inc., engaged by Turner to promote 'Aqua Teen Hunger Force.' In the end, it was all part of a promotion created to enrich a mega-corporation that is shrewd enough to hijack the emerging guerrilla cultural meme.

A friend of mine said that this is a pathology of the wartime mentality we have assumed over five years. Indeed, these are jittery times. In some ways, there's a similarity between this event and the overreaction to Welles' War of the Worlds radio broadcast in 1938. It was the eve of another war then. People had lost their sense of humor. Who can fault them, under the circumstances?

The two men arrested for planting the devices later gave a surreal press interview for television. They made a mockery of the situation, which on some level couldn't be denied as being ridiculous. I wanted to like them and appreciate their Dada moment.

But I didn't. What troubles me is that I can't determine if Berdovsky and Stevens are renegade Dadaist artists, brilliant marketing tacticians, hapless idiots or corporate stooges.

People wag their fingers at an overreactive, jittery populace as being the villain in this situation. But really, it's hard to tell who the villain is. People living in a paranoid age acting irrationally? The pathologies created by the war on terror? Artists? Marketing? Corporate media? The guerilla mentality?

The whole bloody circus?


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  • Robert M: The reaction was overkill. I suspect in Tokyo Shanghai Vegas read more
  • DRJ: Sorry, Paul. I see you were repeating Thorley Winston's question. read more
  • DRJ: Paul, I can't tell if your question is rhetorical but read more

Possibly Miraculous

By 'Cicero' at 11:30

Just passing this along for the Optimism Department:

Water from wind

...Max Whisson has come up with a brilliant and very simple idea.

It involves getting water out of the air. And he's not talking about cloud-seeding for rain. Indeed, he just might have come up with a way of ending our ancient dependence on rain, that increasingly unreliable source.

And that's not all. As well as the apparently empty air providing us with limitless supplies of water, Max has devised a way of making the same 'empty' air provide the power for the process...

There's a lot of water in the air. It rises from the surface of the oceans to a height of almost 100 kilometres. You feel it in high humidity, but there's almost as much invisible moisture in the air above the Sahara or the Nullarbor as there is in the steamy tropics. The water that pools beneath an air-conditioned car, or in the tray under an old fridge, demonstrates the principle: cool the air and you get water. And no matter how much water we might take from the air, we'd never run out. Because the oceans would immediately replace it.

Trouble is, refrigerating air is a very costly business. Except when you do it Max's way, with the Whisson windmill...

...Usually a windmill has three blades facing into the wind. But Whisson's design has many blades, each as aerodynamic as an aircraft wing, and each employing "lift" to get the device spinning. I've watched them whirr into action in Whisson's wind tunnel at the most minimal settings. They start spinning long, long before a conventional windmill would begin to respond. I saw them come alive when a colleague opened an internal door.


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  • Ben F: Sounds perilously close to a perpetual motion machine, if you read more
  • madconductor: By the way, he does want to patent it - read more
  • madconductor: #12 Donald Does this mean that Gore may be out read more

Possibly Diabolical

By 'Cicero' at 11:28

Just passing this along for the Pessimism Department:

Google 'planning total storage'

Web giant Google is planning a massive online storage facility to encompass all users' files, it is reported.

The plans were allegedly revealed accidentally after a blogger spotted notes in a slideshow presentation wrongly published on Google's site.

The GDrive, previously the subject of chatroom rumour, would offer a mirror of users' hard drives, Reuters said.

Google declined to comment on the reports but said the slide notes had now been deleted.

In the notes, chief executive Eric Schmidt reportedly said Google's aim was to "store 100%" of users' information.

The notes said: "With infinite storage, we can house all user files, including e-mails, web history, pictures, bookmarks, etc; and make it accessible from anywhere (any device, any platform, etc)."


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  • Dusty: Lehrer News Hour did a story on Vista yesterday. During read more
  • Molon Labe: Time to turn on file encryption on my hard drive. read more

Hama Complex

By 'Cicero' at 14:24

One of the arguments for pulling out of Iraq is that its citizens are not capable of establishing anything remotely like a democracy. We flatter ourselves to believe that our 230 year old democratic experiment has any chance of getting off the ground in a region defined by clan, religious edict and ethnic rivalries that reach back into antiquity.

I will confess that I myself have nursed this opinion on and off, agog at the carnage in Iraq. Whether or not our boys and girls on the ground are the stewards of a fledgling democracy or are greasing the gears of Iraq's next ethnic meat machine, it's not obvious which will prevail.

I read somewhere that the Americans are too nice to run a place like Iraq. Our introspection gets us caught up in our moral lapses in places like Abu Ghraib, much less actually rule with an iron fist. No, I don't think Abu Ghraib was a good thing, or necessary. I don't particularly want our soldiers to become common thugs. There's nothing to win when that happens.

But the point of our light-handedness -- our niceness -- remains.


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  • mark: PD, Who is "working with local elites to put together read more
  • PD Shaw: Do you mean self-determination like working with local elites to read more
  • mark: PD, I would make the distinction between what the US read more

Guardedly Skeptical

By 'Cicero' at 13:40

I've been a nay-sayer here about the war recently. I have found it increasingly difficult to have much faith in the president's competence in prosecuting the war. I still believe we are on the threshold of taking a side in an ancient religious feud. Let's hope not.

I would at least like to upgrade my negative position to 'guardedly skeptical'. I was reminded this morning that my armchair viewpoint is spun from a digital tower. There are people whose experience on the ground in Iraq trumps the prognostications I dream up on the Blogosphere.

Here's the views from some soldiers on the ground in Iraq. In this article at least, they're more optimistic that the fresh troops being deployed will be a positive development.

I hope they're right. And I hope they can do their work well and come home, in spite of the politics at home. And in spite of my skepticism. Read on:

U.S. troops: Fresh faces must be used correctly

BAGHDAD, Iraq (CNN) -- A few hours after President Bush announced more than 20,000 additional troops would deploy to Iraq, U.S. Army Sgt. Michael Casper was doing inventory with his soldiers.

Like most soldiers here, Casper did not catch Bush's speech, but he knew the basics: More troops are on the way.

"It's trying something new, and if it works, it works; and if not, we will have to find something else," he said.

Staff Sgt. Roy Starbeck also didn't hear Bush's remarks, but he did hear some of the dissenting reaction from politicians and others -- and it irked him to no end.

"It's just ... really just aggravating," he said, shrugging his shoulders. "People saying that they don't support the war because they don't like the president or saying they don't support the war because they are Democrats or saying they support the war because they are Republicans.

"None of them are taking the time or energy to find out what is actually going on over here."

Most of the soldiers who spoke with CNN said they believe that if the fresh troops are used in the right way, the increase could be a significant help. But these men have no say in policy.

In the words of one soldier, "I am just a little fish."


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  • GoatGuy: The great Victor Davis Hanson has something to say along read more
  • David Blue: "Increasing troops could show more force, could incite the insurgents read more

Lose, Lose, Lose

By 'Cicero' at 03:55

Here's some snippets from President Bush's speech on a new Iraq strategy this evening:

The consequence of failure:

The consequences of failure are clear: Radical Islamic extremists would grow in strength and gain new recruits. They would be in a better position to topple moderate governments, create chaos in the region, and use oil revenues to fund their ambitions. Iran would be emboldened in its pursuit of nuclear weapons. Our enemies would have a safe haven from which to plan and launch attacks on the American people...

The cause of failure:

There were not enough Iraqi and American troops to secure neighborhoods that had been cleared of terrorists and insurgents. And there were too many restrictions on the troops we did have.

The new security arrangement:

The Iraqi government will deploy Iraqi Army and National Police brigades across Baghdad's nine districts. When these forces are fully deployed, there will be 18 Iraqi Army and National Police brigades committed to this effort - along with local police. These Iraqi forces will operate from local police stations - conducting patrols, setting up checkpoints, and going door-to-door to gain the trust of Baghdad residents. ...this will require increasing American force levels.

The intended result:

...over time, we can expect to see Iraqi troops chasing down murderers, fewer brazen acts of terror, and growing trust and cooperation from Baghdad's residents. When this happens, daily life will improve, Iraqis will gain confidence in their leaders, and the government will have the breathing space it needs to make progress in other critical areas. Most of Iraq's Sunni and Shia want to live together in peace - and reducing the violence in Baghdad will help make reconciliation possible.

- - -

The President's Iraq plan assumes that there is a cogent, non-sectarian, uncorrupted Iraqi national government to partner with. I propose that this is an illusion, laid bare by Saddam's mob-like execution at the hands of revenging Shi'a. There is no real national government in Iraq that represents all the factions. I don't believe it is possible at this hour.

We're pouring 20,000 more of our forces to go "door-to-door to gain the trust of Baghdad residents". Translation: We're going to unwittingly assist one side of this sectarian conflict suppress the other. We will be taking sides in a conflict that goes back more than a millennium.

It has become inordinately difficult to see how our token force of 20,000 additional troops embedded in Iraq's sectarian war will turn the tide in the Global War on Terror.

I supported this war because I felt it was a gamble worth taking, given the data we had at the time regarding Saddam's WMD programs. But through deception from many sides, error, misjudgment, incompetence, stupidity, naivete, over-exuberance and bad luck, the gamble failed. 20,000 troops in 2007 is 20,000 troops too late.

Perhaps some will think this is an overarching strategy to beef-up forces in the region pending engaging the Iranians. If we need to do that, we need to consider how taking sides in a pointless sectarian war in Iraq now is going to strengthen our resolve in dealing with Iran later. Here's a hint: It won't. It will sap us. The pointlessness of the exercise will be self-fulfilling.

Hell, I'm no military strategist. I don't have a specific strategy in mind to secure even a limited defeat, short of withdrawal. But I think the President's calling for 20,000 troops at this stage of the conflict is not serious. You and I -- private citizens not in uniform -- are asked to do nothing but fret. The sacrifice expected of us is, once again, minimal.

Enjoy your iPhones.


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  • joe: "The sacrifice expected of us is, once again, minimal." This read more
  • David Blue: #5 from liberalhawk: "'Thus too for the culture and the read more
  • David Blue: There are many good things in President George W. Bush's read more

December 30, 2006

Nothing

By 'Cicero' at 15:47

On the way to his execution, Saddam Hussein said, "Iraq without me is nothing."

I am glad the Saddam era is over. But I wouldn't say I am relieved. I wonder if his last words are prescient. The nation called Iraq is slipping into civil war. Indeed, is Iraq a nation? Is its national continuity impossible without the bindings of a brutal autocrat? Much relies on the answer to this question.


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  • Kristjan Wager: The Heritage Foundation also reports that "Wages are set through read more
  • J Aguilar: Alon Levy (#26) Countries of all sizes use aggression and read more
  • Daniel Markham: Luther wanted a more stricter application of the creed, sure, read more

December 12, 2006

Bellamy's Buzzer

By 'Cicero' at 16:47

Our first winter here in Massachusetts is just beginning. We have house squirrels, I think. I'm told that when the wind chills, they take refuge where they can. I don't like squirrels in my house, between the ceilings and floors, banging and nibbling acorns up there, unseen. If only I could reason with them, and strike a bargain. Ah, the life of a country squire...

There's a lot of buzz about 'next moves' -- what to do in Iraq, with Iran, and North Korea. What will Hezbollah's next move be in Lebanon and Israel? What of our lame duck president, for two years coming? The Democrats have the helm now, more or less. Maybe they'll bumble onto something positive. Obama seems like a breath of fresh air.

I've been trying to draw my own personal conclusion about the war in Iraq. I was for it. At the war's outset, the cause seemed justified, a gamble I thought worth taking. It seemed positive in the face of the alternative, which was to continue fiddling in the corridors of the UN and in the salons of Arabia and Europe while Saddam would break apart the sanctions regime. Maybe it was just me, but in 2003 the option for more circular diplomacy and realpolitik seemed pessimistic and hopelessly spent in the wake of 9/11.


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  • alchemist: to Markham: You're right, alot of this is semantics. Sometimes read more
  • Michael van der Galien: Cicero, to make you feel better, this is the part read more
  • Daniel Markham: Wasn't one of the Colt handguns called a peacemaker? And read more

Muddle

By 'Cicero' at 05:59
So.

I've been lying back on the couch these days. No blogging. No lots-of-things beyond work and being Papa. I am now taking daily walks after learning that my cholesterol levels read like fiction. Getting life insurance is sobering. You sit at home with an agent and talk about your life's value in mere dollars. Your blood is drawn. Then you're told by someone whose living involves making bets on people's lives that you're a risky prospect. Feh. Forty three.

So, it's fish oil pills, oat bran, beans, niacin and rabbit food. This is my new grind. The daily red wine is a bonus. Walking the New England woods does me well, though it takes a lot of time. Sorry about not finding the time to blog a little more frequently. I've just been walking in the woods, through the headlines of late.


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