invisible hand

There are quite a few conflated statements and actions in circulation regarding America's economy and monetary policy. While it is true that raising a debt-ceiling does not in fact increase overall debt, rather just re-calibrates a county's ability to fulfill its outstanding obligations, and despite evidence to the contrary about past fiscal cycles, history and precedence and possibly the very definition of madness in expecting any other outcome, such a correction does not necessarily speak to thrift and discipline. On the contrary, a commitment to not default and continue to match the caretaking and stewardship responsibilities of a government demonstrates a discipline usually understood to be the opposite.

Unfortunately, these overtures came on the heels of the unexpected announcement by the US Federal Reserve cadre to continue its policy of quantitative ease (read printing more fiat money) in order to encourage growth and investment. Interest rates could hardly be any lower to discourage the hoarding of money in savings and encourage growth through investments—being the more attractive place to make one's money work for its keep. Stakeholders, however, cannot be exactly led to water by dwindling attractions, when amounts are large enough to be insulated. Half-a-percent of billions is quite a lot, even when swimming upstream. Bursars the world-around rally, knowing there is enough cushion to offset the lack-lustre dollar with selective prestige projects. Though from separate accounts, it is an awful coalition, a coming together, a flittering programme to back up some eighty-five billion dollars monthly of shaky bonds (debts) with copy-machine collateral compared to the goal of saving eight-billion dollars spread out over a year, with follow-on aims for the next decade, in the name of sequestration—which, I suspect, achieved retrograde success. Already agencies, petty tyrants, are being urged to update contingency plans for a lapse in funding, which will play out the same as the exercise in work-stoppage known as furloughs. Absent cooperation and clear objectives, I am not sure what economies, who have painted themselves into a corner, could do.

polling place or fragenbogen

A section of the German electorate is gifting its ballots to expatriates and EU citizens unable to influence the outcome of the campaign via a social-media group called Electoral Rebellion in order to lend a voice to those outliers affected by Germany's stance in the European Union, like the Spaniards and Hellenes in the face of austerity measures and others further afield with the potential to be touched by new German policy. From a legal standpoint, it appears, that the volunteers are simply soliciting the advice of foreigners, and participants—with no expectation of quid pro quo, would have probably voted for the candidates most sympathetic to the views of those voting by proxy, but the action does raise a needed discussion on supra-national politics and infringements as well. What do you think? Is this action, stunt not far from buying and selling votes or a broader and necessary world-view?

shutter-bug

Der Spiegel's international desk reports through a narrative of the scavenger- hunt (die Schnitzeljagd) and a collection of the discoveries on the City of Leipzig being the latest entry among German metropolises in a new form of tourism that aims to capture urban landscapes in new ways through sponsored Photo Marathons. I really like this idea, although when exploring someplace new I have not assigned myself a certain theme, especially such esoteric ones subject to abstract license—except maybe manholes and graffiti.

biometrics or cutting off your nose to spite your face

Not long ago, a group of hacktivistas requisitioned the fingerprints of a high ranking German minister from a water glass in order to illustrate inherent flaws in the personal security prescription that the minister was championing.
The lifted prints were circulated and used in this experiment for impersonation, showing that any element of biometric data released into the wilds (that's why it proves useful for police in forensics) is prone for use and abuse and not such an advisable method for locking and unlocking personal troves. Of course, passwords not generally circulated are prone to other methods, but owning that false-sense of security is an expensive proposition. For the interim, I can envision people doffing and donning their shoes and socks for verification-purposes. There are of course methods to suppress ne'er-do-wells but I wonder with thieves wearing charm necklaces of trophy thumbs and toes if the sort of safety that is being sold to us is possible.

mmm mmm mmm mmm or tip of the tongue

As part of its weekly digest of innovative and new ideas, the excellent blog Brain Pickings features an interesting review of a new work from Clive Thompson about how technology are collaborating in positive ways to augment how we remember, learn and triangulate novel and familiar concepts. The book, “Smarter than You Think: How Technology is Changing our Minds for the Better,” smartly covers a lot of emergent and age-old praises and cautions and is by no means swerving to avoid the counter-argument or discussion, neither a retreat into apologies for new standards of etiquette and work-ethics nor a luddite bemoaning short attention-spans and information overload, but rather presents an extended thesis that certain aspects of on-line resources can prove to be transcending, proving one knows how these tools function.

Knowing how to use the Google seems rather basic, and a chore made progressively easier with each software update, and while being an accomplished mechanic is not prerequisite for being licensed to drive, most probably could better articulate the input and output of a car than the gullible crash test dummies we are for herd-mentalities and the whims of the tool-makers. One intriguing idea that the review puts forward is the tip-of-the-tongue syndrome—certainly not a new phenomena itself, strangely modernized by the internet, which allows one to reverse-engineer any escaping memory. Connecting the dots, however as the author cites, is only good as the dots one collects. The internet and its dynamic interface is certainly more than just a scatter-shot consultant but can be rather a constellation-maker.

is there in truth no beauty?

Artist Juan Ortiz gives the original Star Trek series the brilliant treatment of re-imaging each of the the eighty episodes in classic movie-poster-form. At the link, one can purchase the collection and browse images. Though the title of individual shows might escape even the greatest and most-studied of fans, all are rife with iconic images that certainly take well to one of the pulp but defining art forms of contemporary (retro) times. Though maybe not all episodes of nostalgic television could be re-imagined as such, do you have memorable viewing experiences, either first- or second-hand that ought to be committed to this very portrayal, like your neighbours joining your parents to watch the finale of M*A*S*H*, Tatort or The Outer Limits?

laissez-faire is everywhere

There were several stories in circulation this week, echoing from many corners of the world and many times without deference to this being the fifth anniversary of the collapse of the too-big-to-fail financial house whose downfall placed economics internationally in chaos, that proclaimed real and shadow markets to be fully recovered and no longer in danger of relapse.

Maybe some early optimists took the occasion to express a brighter outlook and the mimics missed the crux of the context and rather not let ancient history complicate an apparent slow-news day or revive unpleasant memories and fueled with the hopes of returning to simpler and more trusting times—an economic nostalgia when the labour situation in Greece had nothing to do with the price of eggs and banks were an insulating factor true to their word that tomorrow could only be bigger and better. Indeed, some the language was reminiscent of the patriotic overtures to just go shopping in the aftermath of the September 11 Attacks to restore the world economy. Never mind about confidences shaken and disintegrated, the disclosure of inflationary and unethical practices, the stark shift away from social good and board and bed lost and increasingly aggressive circling-of-wagons by the banking aristocracy and their court, their sophists—journalism being a big part of that estate, to keep the game going. Dwelling on the negative and preaching doom and gloom is only helpful as a reminder and urging precaution—not that pathological adventurers need inspiration, but I do wonder sometimes who sponsors such spin and de-programming.

suffrage

The citizens of Bavaria will go and cast their votes for state elections on this Sunday, and I discovered, after appreciating the collusion of events, like the anticipation of the beginning of Oktoberfest, which celebrates into October starting on next Saturday, that state governments do have some discretion in setting the dates for election day—no sooner than 59 weeks before and no later than 62 weeks after the last cycle of four years hence.
And though there was license to place balloting the morning after the bacchanalia, officials put it strategically a week prior to federal elections. There is not the same kind of flexibility in campaigning in the United States, whose moment of decision, by law, falls on the day after the first Monday in November—due to the agrarian nature of the early US and notwithstanding the provisos of early- and absentee-voting. That German federal elections (and neighbouring Hessen's state elections also) come maybe while nursing a hang-over is quite another matter and maybe too by design. Coincidences of the calendar are certainly not always politically advantageous but does make one wonder when it came to the legal convention—like US presidential elections being always (except in the rare case of a year equally divisible by 400) on leap-years or during years of a summer Olympiad—locust plagues, perhaps, in addition to whatever sideshows can be introduced. I wonder if such precedents were considered.