hippity-hoppity

brinksmanship or no quarter

On the surface of things, the evolving situation in Cyprus’ finances does not seem to make complete sense. There was originally a strange sort stoical solidarity as the idea of levying a deposit tax as collateral against the Euro-Group’s line of credit from the island’s government but public outrage and fears of precipitating such seizures ultimately led to the collapse in negotiations. Presently, the Cypriots look poised to renege on the terms of this rescue package, and the EU looks willing to cut its losses, recognizing the grave realities of a marshal-economy. The transformation was quick, from darling of people seeking out a safe berth for the money to anathema, over-exposed—though fundamentally, the shenanigans were no different than what when on in other crisis lands, or for that matter, what is still tolerable, attractive about other safe harbours, like Luxembourg or the Channel Islands.

Further, that stoicism belied a calmness, which was not entirely unheard over the uproar, with the church offering certain securities and pawning pension funds. The Euro-Group rejected these avenues, which seem to be no longer options for the Cypriot administration either, as untenable and just setting up the country for a deferred failure with an unsustainable burden of debt, as well as intervention by the Russians. Though there may be some interest not brought openly to the bargaining-table, Russia seems to be snubbing Cyprus, even with its untapped natural gas reserves, and will let the banking system fail, despite standing to lose a lot of private money and its chief correspondent bank for clearing its transactions with Europe. To be sure, it’s chaotic and the most robust economist probably could not deftly navigate these waters, but things just stopped making sense. It almost seems like warfare-by-proxy, with vested interests in seeing the EU experiment crumble. I suppose too that as the crises initially began to unravel, for example, with the real-estate bubble in Ireland or Spain or the overvaluing of the Swiss franc, could also be shown in the harsh light of conspiracy. Perhaps, hopefully, Cyprus can emerge from this dilemma, bravely and ultimately stronger, like Iceland has done.

an embarrassment of riches

The latest reconnaissance from the superb BLDRBLOG documents the recent trophies of an internet entrepreneur, recovering the artefacts of the Apollo mission to the Moon—sunk and a repurposed as components of a natural environment, and poses the interesting question if such exploits and adventures will become signature for the fabulously wealthy—at least from those with a flair for conquests. Mounting the highest mountains, delving the deepest oceans, and even prospecting asteroids could become serious attractions, like record-setting feats gone unbroken since the Machine-Age. I just hope that the endowed buccaneers choose good and responsible investments for their exploits, legacy and a damaging spirit of competition does not arise.

jail-break, jail-bait

While most conversations about the architecture of Digital Rights Management (DRM, sometimes referred to as Digital Restriction Management) tend to focus the on fact that such platforms are an unwieldy punishment, which does not deter piracy, yields a bunch of play-devices that become quickly incompatible and even stifles creativity.

The happy mutants at Boing Boing share a surprisingly direct confession that this convoluted legislation on media is fundamentally flawed by design. In essence, the whole rationale behind DRM is to give proprietary rights holders leverage over, by analogy, philharmonics, operas, playhouses, the makers of phonographs, video cassette recorders and their more modern avatars, to adhere to the content licensees’ rules or risk facing a quickly creeping obsolesce. The efficacy of the methods do not matter, since the media conglomerates are drafting the laws as they go along and there is the impression of invention openness encroaching.

telomere

Biologists are at the verge of an important decision with technical hurdles toppled when it comes to the matter of de-extinction.  National Geographic covers this point of departure in a quite thoughtful manner, not dismissing the question of playing God, but positing that there is an ethical imperative to restore the individual species, and by extension the ecological diversity, that humans drove to extinction.
The dodo, passenger pigeon and even the woolly mammoth are poster-children representing many more creatures no longer around because of our activities, and scientists are quickly gaining the means to bring them back. What do you think? Are we obligated to make Nature whole again, or does our capacity to raise the dead cheapen our overall sense of stewardship and respect? Does Nature coldly absorb its losses quickly and move on, leaving no place for failed experiments? Our fault or not, since we are unable to operate outside of that broader context, should we be working to re-introduce some species? Ignoring individual ingenuity is something done at great peril and surely there is something to glean from every success and cul-de-sac. It was an unpopular argument when some ecologists advocated for a giant squid over a giant panda as a symbol for conservation efforts, since no one wants to lose the latter, but it was a judgement on our priorities.

the rites of spring or where the wild things are

As Winter looks to be coming to an end in earnest, photographer Charles Fréger shares his sociology project of documenting ritual traditions and variations across nineteen countries in Europe, capturing the costumes and customs put on in order to coax in brighter days. These ceremonies date from pre-history and have continued uninterrupted, even in the midst of thoroughly modern Europe.

and that’s a pretty nice hair cut—charge it like a puzzle, hit men wearing muzzles

Oh dear—this is a potentially disturbing development that is making international markets anxious as well as any and every John Q. Public, Max Mustermann, or Τάδε Ταδόπουλος who’ve brooded any nest-egg. In exchange for a ten-billion euro lifeline to save the country from insolvency, banking and finance accounting for a large proportion of the island nation’s economy, European Union finance ministers are demanding a percentage of the savings deposits of Cypriot citizens.

The government of Cyprus supports this hair cut, which would excise a minimum of a three percent from all accounts. Despite insistence that such an arrangement exceptional and not precedent-setting, with Germany trying to distance itself from the conditions of the swap and Britain going so far as pledging to reimburse the losses incurred by her subjects stationed there as a result of the decision, many are growing nervous about their stashes, however it’s kept. Do you think a move like this opens up the possibility for shearing assets from private people, small-holders but share-holders, nonetheless? Or might having savers participate in the bail-out might inspire overall more pragmatism?  It is happening too often lately, but when decisions and support fail to abide by economic sense (I can’t imagine how the reactions and distress in the streets and in the bourses was unexpected), one should always follow the money and see who stands to gain, and perhaps not ultimately, from this deal.

fantastic voyage or doctor inchworm, i presume?

The ever excellent BLDGBLOG reports on an RD project from the laboratories of the Massachusetts Institute of Technology, experimenting with probes called mesh-worms whose motors are driven by a simple yet effective principle of expansion and contraction.

A microscopic lattice housing detectors and potentially a payload of metal alloyed just by a tiny pulse to raise the temperature a bit and let it relax back into its unexcited state to dutifully and tirelessly burrow and creep forward through very tight environments. Not only could this worm go spelunking and sound out more human-sized routes, explore the palimpsest of old architecture, pick locks and crack safe, such a probe could also patrol one’s insides for potential trouble spots and delivering a consignment of medicine—or poison, I suppose, as creepy-crawly assassins. Over-zealous nanotechnology or designer viruses have not yet taken over, but good-judgment does not always prevail. What do you think? Is this the realization of an unflagging panacea or more fodder for invasion and misuse?