Why Bank Of America Fired Me

December 2nd, 2009


Kandahar’s Loch Ness Mystery Plane Returns

December 1st, 2009

Via: Flight Global:

Kandahar’s Loch Ness monster has been spotted again. This time an actual photo of the beast was published by French journalist Jean-Dominique Merchet, who writes for the Liberation newspaper, on his Secret Defense blog. We last saw the mystery Kandahar aircraft in a drawing by Shephard’s Unmanned Vehicles and a very grainy photo published by Air & Cosmos.

The new photo offers a slightly better view of the nose. Is that a canopy screen above the nose? I wondered in May if this might actually be a manned aircraft, even if it was first sighted on UV.com. If there is a cockpit, where is the air intake for the engine? The half-moon exhaust pipe strikingly resembles the P175 Polecat, a Skunk Works product.

Regardless of how it is piloted, the Kandahar aircraft’s existence raises several existential questions: What does it do? Why do you need a stealthy-looking aircraft to spy on Al Qaeda and the Taliban? What’s all the secrecy about? While I’m asking, can somebody please get a head-on picture?

[UPDATE: Bill Sweetman, of Ares blog infamy, believes the aircraft is the Skunk Works’ Desert Prowler, which would make it a UAV.]


Sprint Nextel Geotracking Info Given to Law Enforcement Eight Million Times from September 2008 and October 2009

December 1st, 2009

My running hypothesis is that MAINCORE targets are geotracked on a persistent basis.

Via: Slight Paranoia:

Sprint Nextel provided law enforcement agencies with its customers’ (GPS) location information over 8 million times between September 2008 and October 2009. This massive disclosure of sensitive customer information was made possible due to the roll-out by Sprint of a new, special web portal for law enforcement officers.

The evidence documenting this surveillance program comes in the form of an audio recording of Sprint’s Manager of Electronic Surveillance, who described it during a panel discussion at a wiretapping and interception industry conference, held in Washington DC in October of 2009.

It is unclear if Federal law enforcement agencies’ extensive collection of geolocation data should have been disclosed to Congress pursuant to a 1999 law that requires the publication of certain surveillance statistics — since the Department of Justice simply ignores the law, and has not provided the legally mandated reports to Congress since 2004.


Bankers Arming Themselves

December 1st, 2009

Big deal. These corporations control the U.S. Military. Have a nice day.

Via: Bloomberg:

“I just wrote my first reference for a gun permit,” said a friend, who told me of swearing to the good character of a Goldman Sachs Group Inc. banker who applied to the local police for a permit to buy a pistol. The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank.

I called Goldman Sachs spokesman Lucas van Praag to ask whether it’s true that Goldman partners feel they need handguns to protect themselves from the angry proletariat. He didn’t call me back. The New York Police Department has told me that “as a preliminary matter” it believes some of the bankers I inquired about do have pistol permits. The NYPD also said it will be a while before it can name names.

While we wait, Goldman has wrapped itself in the flag of Warren Buffett, with whom it will jointly donate $500 million, part of an effort to burnish its image — and gain new Goldman clients. Goldman Sachs Chief Executive Officer Lloyd Blankfein also reversed himself after having previously called Goldman’s greed “God’s work” and apologized earlier this month for having participated in things that were “clearly wrong.”

Has it really come to this? Imagine what emotions must be billowing through the halls of Goldman Sachs to provoke the firm into an apology. Talk that Goldman bankers might have armed themselves in self-defense would sound ludicrous, were it not so apt a metaphor for the way that the most successful people on Wall Street have become a target for public rage.

Pistol Ready

Common sense tells you a handgun is probably not even all that useful. Suppose an intruder sneaks past the doorman or jumps the security fence at night. By the time you pull the pistol out of your wife’s jewelry safe, find the ammunition, and load your weapon, Fifi the Pomeranian has already been taken hostage and the gun won’t do you any good. As for carrying a loaded pistol when you venture outside, dream on. Concealed gun permits are almost impossible for ordinary citizens to obtain in New York or nearby states.

In other words, a little humility and contrition are probably the better route.

Until a couple of weeks ago, that was obvious to everyone but Goldman, a firm famous for both prescience and arrogance. In a display of both, Blankfein began to raise his personal- security threat level early in the financial crisis. He keeps a summer home near the Hamptons, where unrestricted public access would put him at risk if the angry mobs rose up and marched to the East End of Long Island.

To the Barricades

He tried to buy a house elsewhere without attracting attention as the financial crisis unfolded in 2007, a move that was foiled by the New York Post. Then, Blankfein got permission from the local authorities to install a security gate at his house two months before Bear Stearns Cos. collapsed.

This is the kind of foresight that Goldman Sachs is justly famous for. Blankfein somehow anticipated the persecution complex his fellow bankers would soon suffer. Surely, though, this man who can afford to surround himself with a private army of security guards isn’t sleeping with the key to a gun safe under his pillow. The thought is just too bizarre to be true.

So maybe other senior people at Goldman Sachs have gone out and bought guns, and they know something. But what?

Henry Paulson, U.S. Treasury secretary during the bailout and a former Goldman Sachs CEO, let it slip during testimony to Congress last summer when he explained why it was so critical to bail out Goldman Sachs, and — oh yes — the other banks. People “were unhappy with the big discrepancies in wealth, but they at least believed in the system and in some form of market-driven capitalism. But if we had a complete meltdown, it could lead to people questioning the basis of the system.”


Gold: Fresh Record High

December 1st, 2009

Via: Bloomberg:

Gold prices topped $1,200 an ounce for the first time as the slumping dollar spurred investor demand for an inflation hedge. Silver and palladium futures jumped to 16-month highs.


The Real Unemployment Rate in the U.S. is Now 22%

December 1st, 2009

Via: Layoff List:

The media and government officials often tout the unemployment rate using the official, or U3 rate, which stands at 10.2% for October. While 10.2% unemployment is certainly bad enough – it’s the highest rate nationally excluding 1983s 10.8% – it pales when compared to the U6 unemployment rate. First let’s discuss the differences between U3 and U6 measures.

According to the Bureau of Labor Statistics (BLS) the U3 measure is described as “total unemployed, as a percent of the civilian labor force (official unemployment rate).” Now let’s take a look at the BLS U6 measure: Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.

When including marginally attached workers and those forced to work part-time instead of full-time we have a national unemployment rate of 17.5%, which is nearly 70% higher than the U3 rate of 10.2%. That’s a dramatic increase from the normally quoted U3 unemployment rate, but even U6 fails to provide the actual percentage of people who are, or may be considered unemployed.

John Williams discusses alternative unemployment data sets at his Shadow Government Statistics site. Their service, in part, “exposes and analyzes flaws in current U.S. government economic data and reporting.” Once those flaws are included in the unemployment calculation – called the SGS Alternate – the unemployment rate reaches 22%. Shadow Government Statistics gives the following reason for SGS Alternate measure: “The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated “discouraged workers” defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.”

To clarify why the discrepancy between U6 and the SGS Alternate rate of 22%, I contacted the BLS and received the following answer to my question about the change in discouraged worker designation during the Clinton Administration:

“(P)rior to 1994 persons were not asked whether they had searched for work recently. If they gave one of the five “discouraged worker” reasons for not looking for work in the past 4 weeks, they were assumed to have “given up” the search for work, although they weren’t asked when they had last looked. As a result of the greater specificity introduced in 1994, the number of discouraged workers was cut approximately in half, from about 1.1 million in 1993 to 500,000 in 1994.”

About 600,000 people were removed from the unemployment calculations in 1994, so if you merely add those 600,000 to the current U6 number, the rate of unemployment would be much higher than 17.5% and would more accurately be reflected in the SGS Alternate unemployment rate of 22%.


Another Escalation: Obama to Send 30,000 More Troops to Afghanistan

December 1st, 2009

Via: New York Times:

President Obama issued orders to send about 30,000 additional American troops to Afghanistan as he prepared to address the nation Tuesday night to explain what may be one of the most defining decisions of his presidency.

Mr. Obama conveyed his decision to military leaders late Sunday afternoon during a meeting in the Oval Office and then spent Monday phoning foreign counterparts, including the leaders of Britain, France and Russia.

Robert Gibbs, the White House press secretary, declined to say how many additional troops would be deployed, but senior administration officials previously have said that about 30,000 will go in coming months, bringing the total American force to about 100,000.

On top of previous reinforcements already sent this year, the troop buildup will nearly triple the American military presence in Afghanistan that Mr. Obama inherited when he took office and represents a high-stakes gamble by a new commander in chief that he can turn around an eight-year-old war that his own generals fear is getting away from the United States.


Stealth Starbucks Experiment Flops

December 1st, 2009

HA.

Via: Reuters:

Apparently the experiment isn’t working. A former Starbucks insider said that Seattle’s 15th Ave. Coffee and Tea – the first of the new not Starbucks stores (its website, by the way, is called www.streetlevelcoffee.com) – is doing only a third of the business of the regular green-logoed Starbucks store that used be at that site.

Perhaps consumer really do want something more than branded artifice; they want something genuinely local.

The revolt against sameness may actually be real, too real for a fake Starbucks. And certainly this growing rejection of brands presents an opportunity for entrepreneurs and small business owners to create something authentically local for their customers.


New Sharp Flat Panel Factory: No Humans on Assembly Line

December 1st, 2009

Via: AP:

Huge sheets of glass are guided by robotic arms, sliding and turning in a towering germ-free plant, the world’s first making giant “10th generation” panels for flat screen TVs.

Japanese electronics maker Sharp Corp.’s futuristic-looking plant doesn’t have a single worker on the floor. Each sheet, measuring about 3 meters (3.3 yards) by 3 meters, is being made and tested by computerized machines.


Scientists Grow Pork Meat in a Laboratory

December 1st, 2009

Oh yummy.

Via: Telegraph:

SCIENTISTS have grown meat in the laboratory for the first time. Experts in Holland used cells from a live pig to replicate growth in a petri dish.

The advent of so-called “in-vitro” or cultured meat could reduce the billions of tons of greenhouse gases emitted each year by farm animals — if people are willing to eat it.

So far the scientists have not tasted it, but they believe the breakthrough could lead to sausages and other processed products being made from laboratory meat in as little as five years’ time.

They initially extracted cells from the muscle of a live pig. Called myoblasts, these cells are programmed to grow into muscle and repair damage in animals.

The cells were then incubated in a solution containing nutrients to encourage them to multiply indefinitely. This nutritious “broth” is derived from the blood products of animal foetuses, although the intention is to come up with a synthetic solution.

The result was sticky muscle tissue that requires exercise, like human muscles, to turn it into a tougher steak-like consistency.

Research Credit: cptmarginal


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