“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."

Saturday, December 28, 2013

The next number Two at the Fed


  1. That was a thoughtful, reasonable criticism: If you like what we have had, Fischer is the man.

    I see that he agrees with me that running the Bank of Israel is nothing at all like running the Fed. complaints from here on the video...


    1. Age of Child Prostitutes in Israel Dropping

      Knesset study cites cases of 11-year-olds used for commercial sex that are among the several thousands of teenagers involved in prostitution.

      Vered Lee

      "Spengler's Laws": "When a nation is reduced to selling its women, it's lost."
      hat tip: allen


  2. wow, that's about the NICEST criticism I've ever heard.

    If you consider the rants about Summers and Yellen that are being tossed about, Ole Stanley sounds like quite the SOLID, predictable, banker the markets want. Hawkish on inflation, a central bankers banker, actually worked in the capital markets....

    Sounds like quite the most excellent appointment and he's a Jew and a DUAL citizen of the great Jewish nation of Israel.,

    Congrats to Uncle Stanley for EARNING the position.

    1. Well, the Iranians and the Lebanese were just as UNLUCKY today, firing 4 rockets into Israel at civilians, and Zip.,...

      PM Netanyahu comments on the rocket fire from Lebanon. Courtesy Eli Mandelbaum.

      Lebanon committed a double war crime in its attack against Israel early Sunday morning by endangering innocent civilians on both sides of the border, Prime Minister Binyamin Netanyahu told the cabinet hours later as he explained that the IDF had strongly retaliated.

      He added that he held both the Lebanese and Iranian governments responsible for the attack.

      “What is happening in Lebanon is that Hezbollah is stationing thousands of missiles and rockets in apartments, in the heart of the civilian population, and is thus perpetrating two war crimes simultaneously. It is organizing the firing at civilians, just as it did today, and it is hiding behind civilians as human shields,” Netanyahu said.

      “This is a double war crime that that is being perpetrated under the aegis of the Lebanese government and army, which are not lifting a finger to prevent this arming and these crimes. We hold the Lebanese government responsible for this development,” Netanyahu said.

      It is the IDF’s policy to respond forcibly and quick to such attacks, Netanyahu said.

      “We will not allow a drizzle and we will respond strongly, and if need be, will carry out preventive action,” Netanyahu said.

      He noted that Iran was a player behind the scenes in that it had armed Hezbollah just as it assisted the Syrian government is killing its own citizens.

      The good news? Israel retaliated.

      When will the Palestinians, Iranians, Syrians, Hezbollah, Hamas learn?

      Most likely never... That's why it will be a LUCKY day when they murder Jews, then Israel will have the RIGHT, the ability and the weapons to PUNISH them like the savages they are...

      One can only wonder what the poor, innocent arab child must feel when IDF warplanes shoot back in retaliation for their leaders murderous attacks on innocent Israelis...

      Maybe they will go to the Hezbollah savage that hides rockets in the converted garage? and shoot them.

  3. Fischer’s boss, Yellen, has an interesting husband. I wonder why he is not with the Fed?

    George Akerlof wrote a paper in 1970 describing the major destabilization of markets due to asymmetric information. As is often the case, the research was widely applicable elsewhere, e.g. espionage. In 2001, he was awarded a Nobel Prize for his effort.

    In his latest work, Akerlof and collaborator Rachel Kranton of Duke University introduce social identity into formal economic analysis, creating the field of Identity Economics. Drawing on social psychology and many fields outside of economics, Akerlof and Kranton argue that individuals do not have preferences only over different goods and services. They also adhere to social norms for how different people should behave. The norms are linked to a person's social identities.

    He contended that the new technologies that had helped to spawn the late twentieth century sexual revolution, modern contraceptives and legal abortion, had not only failed to suppress the incidence of out-of-wedlock childbearing but also had actually worked to increase it. According to Akerlof, for women who did not use them, these technologies had largely transformed the old paradigm of socio-sexual assumptions, expectations, and behaviors in ways that were especially disadvantageous. For example, the availability of legal abortion now allowed men to view their offspring as the deliberate product of female choice rather than as the joint product of sexual intercourse. Thus, it encouraged biological fathers to reject not only the notion of an obligation to marry the mother but also the idea of a paternal obligation.

    Akerlof and Paul Romer brought forth Looting: The Economic Underworld of Bankruptcy for Profit, describing how under certain conditions, owners of corporations will decide it is more profitable for them personally to 'loot' the company and 'extract value' from it instead of trying to make it grow and prosper. IE:
    "Bankruptcy for profit will occur if poor accounting, lax regulation, or low penalties for abuse give owners an incentive to pay themselves more than their firms are worth and then default on their debt obligations. Bankruptcy for profit occurs most commonly when a government guarantees a firm's debt obligations."


    1. Chaim Mordechai Rumkowski
      was a Polish Jew and businessman who was appointed as the German Nazi-nominated head of the Ältestenrat ("Council of Elders"), or Jewish authorities in the Łódź Ghetto.

      Some remember him for his haunting and tragic speech,
      . . . . "Give Me Your Children" . . . .,
      in 1942, when the Germans insisted on deporting 20,000 children to death camps.

      He was also remembered as an autocrat and tyrant who built a personal empire within the ghetto.
      He made work the basis of survival and created profit for the Germans

      Chaim Mordechai Rumkowski was a Fifth Columnist.


    2. Germany Sells Israel More Dolphin Subs

      reports surfaced that that Germany would sell Israel 2 AIP-equipped Dolphin submarines, to join its existing fleet of 3 conventional diesel-electric Dolphin Class boats external link. In 2006, the deal for 2 Dolphin AIP boats was finalized at a total of $1.27 billion, with the German government picking up 1/3 of the cost. The new boats are built at the Howaldtswerke-Deutche Werft AG (HDW) shipyard, in the Baltic Sea coastal city of Kiel, with deliveries originally scheduled to begin in 2010. Those have been delayed, and have not begun as of yet.

      Reports that an additional sale may be in the offing have now been confirmed, but just absorbing these 3 new boats will be no small challenge for Israel’s “3rd service”…

      The Dolphins are quiet diesel-electric attack submarines that evolved from Germany’s famous and ubiquitous U209 Class. They can fire torpedoes and missiles from their 533mm torpedo tubes, perform underwater surveillance, and even launch combat swimmers via a wet and dry compartment.

      Germany had already donated two Dolphin submarines external link to the Israeli navy after the Gulf War in the early 1990s. The first-of-class INS (Israeli Naval Ship) Dolphin was commissioned in 1999, while INS Leviathan was commissioned in 2000. The Israelis later bought a 3rd submarine for $350 million total, using a 50/50 shared cost arrangement with the German government. INS Tekuma (“revival, renewal”) also entered service in 2000.

      Ah donated 2... and sold 3 at a 33% discount..

      Guess Germany wants Israel armed and healthy to fight the savages that surround it...

  4. The NSA scandal provides a classic case of asymmetric information and its power. The article below suggests why it will be kept. There is no putting the toothpaste back into the tube. Welcome to the new world order.

    Mad World

    Lost in the global outrage over the NSA’s spying program is a surprising fact: the most sought-after item of US aid isn’t relief goods or money. It’s intelligence assistance. The Washington Post reports that the biggest thing many countries want with the NSA is to get on its distribution list.

    The power of signals intelligence was demonstrated to Colombian leaders when it was used to find and kill mega drug-lord Pablo Escobar, a saga which was dramatically recounted by Mark Bowden in his book Killing Pablo. Escobar killed practically the entire Colombian Supreme court in a single hit, destroyed a commercial airliner, ordered the deaths of top ranking police and military officials. Nothing could withstand him, except the Colossus of the North.

    The complaints may all be for show. These incidents underscore a sad but undeniable fact. Contrary to the hopeful belief that “what the world needs now is love, sweet love” most governments actually prefer NSA signals intelligence and smart-bombs.

    The real problem with signals intelligence, like torture, is that is actually useful. If it were not effective there would be no problem getting rid of it. Only things which force us to choose between convenience and our notion of morality pose a real dilemma.

    The host countries would of course prefer a blank check. But the Colossus of the North hangs on to its fragile oversight over the foreign countries and the citizens of the Colossus cling to their fragile oversight over Washington.

    1. Roberto - el Loco CagaderoSun Dec 29, 02:26:00 AM EST

      Self-hating American is a term used to allege that an American person holds anti-American beliefs or engages in anti-American actions.

      The concept gained widespread currency after Theodor Lessing's 1930 book Der American Selbsthass ("American Self-hatred"), which tries to explain the prevalence of American intellectuals inciting anti-Americanism with their extremely hateful view toward America.

      American self-hate has been described as a neurotic reaction to the impact of anti-Americanism by Americans accepting, expressing, and even exaggerating the basic assumptions of the anti-American

    2. Woman suicide bomber kills at least 13 at Russian station

      (Reuters) - A female suicide bomber blew herself up in the entrance hall of a Russian train station on Sunday, killing at least 13 people in the second deadly attack in the space of three days as the country prepares to host the Winter Olympics.

      The state Investigative Committee said the bomber detonated her explosives in front of a metal detector just inside the main entrance of Volgograd station. Footage shown on TV showed a massive orange fireball filling the hall and smoke billowing out through shattered windows.

      "People were lying on the ground, screaming and asking for help," a witness, Alexander Koblyakov, told Rossiya-24 TV.

      Now that's a self hating person...

    3. God would be the perfect model of asymmetric information monopolization. Shasa the palm reader not so much.

  5. Roberto - el Loco CagaderoSun Dec 29, 02:16:00 AM EST

    Walled in by Zionist ugliness

    The grim horror now surrounding our “Little Town of Bethlehem”
    By Stuart Littlewood

    London’s Christmas was made gloomier this year – and rightly so –
    by the appearance in the courtyard of St James’s Church, Piccadilly,
    of a replica of the hated Israeli annexation wall that threads its thieving way around the Palestinian West Bank.

    It’s a life-size representation of the actual 8-metre high wall surrounding Bethlehem and imprisoning its inhabitants.

    The project, called Bethlehem Unwrapped, is a response to a call from the united churches of the Holy Land pleading with churches and communities around the world to
    “help us get our freedom back”.

    The Israelis claim that the monstrous wall, also known as the Apartheid Wall,
    is to protect it’s citizens from terrorist attack.

    But in reality it is carefully routed to bite deep into Palestinian territory in order to steal choice agricultural land and water resources, as well as to seize strategic landscape and communication features and disconnect Palestinian communities from their livelihoods and from each other.

    1. "in order to steal choice agricultural land and water resources"


      Just who do we know here that stole 360 acres of prime bottom land from the Injuns, and the water rights too?????????????

      Oh, I remember was Whackadoodledandy aka Whackopath......

      That's who it was.

      Bwabwabwabwahahahahahhaha....HA HA

      You are an absolute moron ratface.

      The best thing that can be said about you is that you are sometimes so naively humorous......

    2. The little town of Bethlehem has lost about 80% Christians since falling into Palestinaian hands, if memory recalls - typical Muslim ethnic cleansing of little to no consequence to the Jew haters.

  6. Roberto - el Loco CagaderoSun Dec 29, 02:31:00 AM EST

    Private property was the original source of freedom. 
    It still is its main bulwark.

    ~Walter Lippmann

    The Israeli government has, to a large extent, continued the Ottoman legal system in regard to land ownership. 

    Thus, today the vast proportion of land within the State of Israel (roughly 93%) is owned and managed either by the Israel Lands Administration (ILA) or the JNF.  This figure includes much of such extensive regions as the Negev and the Judean Wilderness (near the Dead Sea), which are sparsely populated. 

    Jewish settlements in the State of Israel usually are located on lands that are owned by the ILA or the JNF and that have been consigned to each settlement through long-term leases. 

    Less than 7% of the land in the State of Israel is privately owned.



  7. The system of private property is the most important guaranty of freedom, ...
    ... not only for those who own property, but scarcely less for those who do not.

    It is only because the control of the means of production is divided among many people acting independently ...
    ... that nobody has complete power over us, that we as individuals can decide what to do with ourselves.

    If all the property were vested in a single hand, ...
    ... whether it be nominally that of “society” as a whole or that of a dictator, ...
    ... whoever exercises this control has complete power ....

    1. What does all your insane bullshitting have to do with the subject at hand, which is the proposed new second in command at the Fed?

      I see you are back dreaming of the 11 year olds again.

      You are a very sick man.

    2. I'd think that seeing as how you make out that you are so concerned about prostitution you would beat a path to Nevada and organize a movement there . It's right next door to you. But of course that thought has never entered what we politely call your brain. You don't give a damn about prostitution. What you do care about is criticizing Israel however you can.

      You are one sick puppy.

    3. Most nations control and or own public lands.

      Israel is no different.

      But Rat applies one standard for Israel and none for any other.

      Maybe the better question is: Why does the United States OWN 76% of Nevada?, 70% of Utah, 60% of Idaho, 46% of oregon, 35% of california, 34% colorado to name a few... The total land mass that the USA owned in JUST one state such as California is larger than the entire nation of Israel. You can pick most any western state, the amount of land the USA government OWNS is larger than the israel.

      Israel is 1/900th of the middle east the arabs control 899/900th of the REST of the middle east is MOSTLY not in private hands. SO if 820/900th of the middle east is held by the arab government of the world and Israel's government control's 93% of 1/900th? Who gives a shit?

    4. The great thing about our public lands is anyone is free to visit.

      But not free to squat. Settle. Put up the single wide. Bring the delights of Phoenix, along with its many hookers and strip joints and bars, to our clean and beautiful forests and sage lands.

      It keeps the rats away. Otherwise they'd be nesting up in our nation's backyard.

    5. America took it's "bedoiun" and put them on reservations.

      It's doesn't allow nomadic indians to squat where they wish.


    6. “Envy is for people who don’t have the self-esteem to be jealous.”

      ― Bauvard


    7. "The so-called “Palestinian autonomous areas” are Bantustans.
      These are restricted entities within the power structure of the Israeli Apartheid system."

      - N. Mandela

      The Palestinians are in their "Ghettos", on their "Reserves"

      Palestinian lackeys rule over the fractured and factionalized Palestinians, $100 million a month the Israeli pay their house boy Arabs in baksheesh.

      Just as the Germans used Ashkenazi guards in the Warsaw Ghetto.

      The first commander of the Warsaw ghetto was Józef Szeryński, a Polish-Jewish police colonel.

      Warsaw Ghetto archivist Emanuel Ringelblum has described the cruelty of the ghetto police as ...
      "at times greater than that of the Germans, the Ukrainians and the Latvians."



    Seattle Seahawks online

    Hope this helps.

    1. I should have made all those Sams into a goal post.

    2. This comment has been removed by the author.


    3. You can't blame anyone else, ... , no one but yourself.
      You have to make your own choices
      and live every agonizing day with the consequences of those choices.

  9. Poll: Israel ranks 8th on list of most beloved countriesIn a recent Gallup phone survey 71 percent of Americans view Israel in a ‘very favorable’ or ‘mostly favorable’ light

    Israel is viewed favorably by most Americans and ranks as the eighth “most favored” country, according to a Gallup poll released last week. Israel was viewed by 71 percent of those surveyed in a “very favorable” or “mostly favorable” light, among its highest rankings in the ten year history of this particular Gallup poll.


    1. The best defense against the atom bomb is not to be there when it goes off.

  10. God would be the perfect model of asymmetric information monopolization. Obviously, this hypothesis can never be tested, but linguistically it must be true.

    1. Rubbish!

      How dare you ascribe to G-d any limitations.

      The idea that G-d even requires linguistics, the first fallacy!


    2. Is English your second language? Read my post again.

    3. AnonymousSun Dec 29, 09:46:00 AM EST

      Are you a high school graduate?

      omni- combining form
      : all : in all ways, places, etc. : without limits

      Since by definition G-d must be omniscient (all knowing), it must follow that linguistically G-d is the perfect model of asymmetric information monopolization. I can appreciate your confusion, since you reserve that role for yourself.

      The difference between stupidity and genius is that genius has its limits. ___Einstein

      This is your big thought for the day.

    4. No, Why would anyone assume English was Anonymous bob's first language?

      We do not respond to what the question was, or even the answers offered by others.

      We respond with remarks to the questions we wanted to hear.

      Just as you respond to contributors who are not participating in the discussions.
      We will respond to remarks that were not made.

      But could have been.


    5. This comment has been removed by a blog administrator.

    6. This comment has been removed by a blog administrator.


    7. From thre"atening to "End Western Civilization" to ...

      ... fabricating false headings on "Cut & Paste"


      How the 'mighty' have fallen!


    8. From threatening to "End Western Civilization" to ...

      ... fabricating false headings on "Cut & Paste"


      How the 'mighty' have fallen!


    9. This comment has been removed by a blog administrator.

  11. Mark Morgenstein and Chelsea J. CarterSun Dec 29, 10:00:00 AM EST

    New York Times report casts doubt on al Qaeda involvement in Benghazi
    By Mark Morgenstein and Chelsea J. Carter

    (CNN) -- A New York Times report on the September 11, 2012, attack that killed four Americans -
    - including Ambassador J. Christopher Stevens -- in Benghazi, Libya,

    calls into question much of what Republicans accusing the Obama administration of a cover-up have said about the incident.

    The three main points of contention have been whether the attack was planned,
    whether it was sparked by an anti-Muslim video, and whether al Qaeda was involved.

    However, the Times says, the administration's version, focusing on outrage over the inflammatory video,
    and first delivered by then-ambassador to the U.N. Susan Rice on Sunday morning talk shows five days later,
    isn't exactly right, either.

    "The reality in Benghazi was different, and murkier,
    than either of those story lines suggests.

    Benghazi was not infiltrated by Al Qaeda,
    but nonetheless contained grave local threats to American interests.

    The attack does not appear to have been meticulously planned,
    but neither was it spontaneous or without warning signs,"

    according to David D. Kirkpatrick's article in the Times.

    It's a conclusion that CNN has drawn in its previous reporting.

  12. No Al-Qaeda link to Benghazi raid

    A lengthy New York Times investigation of the deadly 2012 attack on the U.S diplomatic compound in Benghazi, Libya, found no involvement by al-Qaeda or other international terrorists groups and was accelerated in part by anger at a U.S.-made video denigrating Islam. The attack left four Americans dead, including U.S. Ambassador Christopher Stevens. The six-part report on the investigation is written by David D. Kirkpatrick and was posted Saturday on the Times' website. It centers on extensive interviews with Libyans in Benghazi who, the newspaper says, had direct knowledge of the attack and its context. "The attack does not appear to have been meticulously planned, but neither was it spontaneous or without warning signs," the Times concludes.

  13. The Dolphins are quiet diesel-electric attack submarines that evolved from Germany’s famous and ubiquitous U209 Class. They can fire torpedoes and missiles from their 533mm torpedo tubes, perform underwater surveillance, and even launch combat swimmers via a wet and dry compartment.

    No one has a problem with the State of Israel defending itself. But I have a problem with the State of Israel attacking American ELINT assets in the Med, decorating the attackers, and then putting their hand out for money, which is the definition of chutzpah.

    1. Rubbish! ...for all the usual reasons...


    2. From threatening to "End Western Civilization" to ...
      ... fabricating false headings on a "Cut & Paste"

      How the 'mighty' have fallen!

      "Spengler's Laws": "When a nation is reduced to selling its women, it's lost."
      hat tip: allen

  14. 40 Hottest Jewish Women Under 40

    There is very often a natural asymmetry to these beauties.

    1. Sure, the Israeli Bar Fefaeli is a hottie:

      But so is the Tunisian supermodel Kenza Fourati:

      They call them supermodels.

    2. Teresita RedingerSun Dec 29, 11:33:00 AM EST
      They call them supermodels.

      That may be what you call them but... :-)

  15. Deuce,

    If you are going to remove my comments made in response to the pervert's posts...Forget it...You are what you are.


    1. From threatening to "End Western Civilization" to ...
      ... fabricating false headings on a "Cut & Paste"

      How the 'mighty' have fallen!

      "Spengler's Laws": "When a nation is reduced to selling its women, it's lost."
      hat tip: allen

    2. Resolve:
      - decide firmly on a course of action.
      "Farmer Bob resolved to not feed the asshole!"
      determine, decide, make up one's mind, make a decision
      "Farmer Bob resolved not to feed the asshole"

      Don't Feed the Asshole!


    3. Now old Bob was younger then,
      when he wrote of sixty-one.
      Back when God told Abe
      to go and kill his son.

      And, I think,
      it could be very easily done.
      When all is done and said.

      If truth be told, who'd believe it,
      unless they'd been there too.
      When a burning bush was found to glow,
      and a voice said, take off your shoes.

    4. DeuceSun Dec 29, 11:27:00 AM EST
      Revise and resubmit.

      It's not worth the effort.

      Without the noise, I was hoping to examine the influence of Akerlof on Yellen and Fischer. I remain intrigued by the influence of his asymmetry model on NSA policy. It might have been interesting to study the behavior of Congress, particularly Feinstein, when information is asymmetrically distributed.

      Oh, well...


    5. Drivin' down Highway 61?

  16. I don't know why we keep responding to Anonobob's posts. He's an illegal immigrant from Soviet era Russia sent here by the KGB to spy on the USA. Upon Anonbob's retirement from his government job in the Alfalfa Division of the FDA, Russian President Vladimir Putin, the former head of the KGB, arranged for Anonbob to receive memory erasing drugs so he could never tell anyone about his work as a communist spy. What's my evidence for this claim? It's validated by the obvious fact that he suffers side effects from the drugs that affect his memory in other areas, such as how to log in to Blogger. Deny it if you wish, Anonobob but, until you prove me wrong, it's true.


    1. Stories happen in the mind of a reader, not among symbols printed on a page.


    2. Men in general are quick to believe that which they wish to be true.

  17. Once long ago, the Hebrews ("Immigrants") had a deity they called Yahweh, who was a lot like Apollo maybe, used to run around, wrassle people, sometimes win, sometimes draw, used to walk in his garden, used to talk directly to people. When more people were involved, and the story was in danger of being falsified by third parties, Yahweh developed a convenient phobia, didn't like to be around crowds, or even individual human beings, so when he talked to Moses he used an avatar of a burning bush, he called it the "Angel of the Lord". Later Yahweh withdrew entirely to the heavenly precincts and sent messengers to convey his orders, and so the Angel of the Lord became plural. One of these assisted in the downfall of Jericho, allegedly, but his counsel remained the classified briefings of the officer's corp. By the New Testament, even these angelic messengers had developed the same phobia, and only appeared in the dreams of Joseph or Mary. Nowadays, with our night-vision glasses and a video camera in every phone, the angels are scarce indeed.

  18. duke wrote: Nobody tops what Jesus said.

    "Do not give dogs what is holy, and do not throw your pearls before pigs, lest they trample them underfoot and turn to attack you." -- Jesus

    “After fifty-five years of dedicating his life and work to the story of ethical systems, Sol Weintraub had come to a single, unshakable conclusion: any allegiance to a deity or concept or universal principal which put obedience above decent behavior toward an innocent human being was evil.” ― Dan Simmons, Hyperion

    I vote Dan Simmons.

  19. 2020.04.11台北市酒店工作酒店小姐潔西(花名)確診武漢肺炎(COVID-19、新冠肺炎)的酒店女公關(案379),疫情中心在8日記者會中說她「生活單純、沒工作」,但昨(9)日卻說要從酒店上班職場進行疫調,後來才知道,前後說法不一全是因為女公關有「酒店打工難言之隱」,她在酒店上班,丈夫、家人全不知情,一開始還懇求疫調人員不要將她酒店PT身分曝光。