quote 13 Mar
There’s no store where you can buy toxic assets; you have to know a guy. We know Wit Solberg, a former Wall Street trader. […] Solberg starts searching for a bond we might want to buy. And that searching looks a lot like checking your e-mail. Brokers keep sending him announcements about which toxic assets are for sale today. One says: “Cheaper!” Another says: “Super senior steal!
— We Bought A Toxic Asset; You Can Watch It Die : NPR
link 13 Mar We Bought A Toxic Asset; You Can Watch It Die : NPR»
video 13 Mar

Breaking News: Some Bullshit Happening Somewhere | The Onion - America’s Finest News Source

quote 12 Mar
Es gibt ein Bild von Klee, das Angelus Novus heißt. Ein Engel ist darauf dargestellt, der aussieht, als wäre er im Begriff, sich von etwas zu entfernen, worauf er starrt. Seine Augen sind aufgerissen, sein Mund steht offen und seine Flügel sind ausgespannt. Der Engel der Geschichte muß so aussehen. Er hat das Antlitz der Vergangenheit zugewendet. Wo eine Kette von Begebenheiten vor uns erscheint, da sieht er eine einzige Katastrophe, die unablässig Trümmer auf Trümmer häuft und sie ihm vor die Füße schleudert. Er möchte wohl verweilen, die Toten wecken und das Zerschlagene zusammenfügen. Aber ein Sturm weht vom Paradiese her, der sich in seinen Flügeln verfangen hat und so stark ist, daß der Engel sie nicht mehr schließen kann. Dieser Sturm treibt ihn unaufhaltsam in die Zukunft, der er den Rücken kehrt, während der Trümmerhaufen vor ihm zum Himmel wächst. Das, was wir den Fortschritt nennen, ist dieser Sturm.
— Walter Benjamin, Über den Begriff der Geschichte
chat 12 Mar 1 note
  • Yves Smith: The focus initially is on the Economists….and the argument is that the Crisis is actually rooted in bad economic theory.
  • Translation: Milton Friedman was a shill. They have been feeding us bullshit since this started in the 70s. It became a massively bigger pile of bullshit in the Reagan years. We are now at the pinnacle of the Himalayas of bullshit. Domestically speaking, we’re at the summit of the Mount freakin’ McKinley of bullshit.
  • Yves Smith: Financial markets have no propensity to equilibrium. They fundamentally have a predisposition to boom-bust cycles.
  • Translation: Financial bullshit always hits the fan.
  • http: //outsidethe-cardboard-box.tumblr.com/post/439576967/yves-smith-for-dummies
quote 12 Mar
Approaching the derelict shell of downtown Detroit, we see full-grown trees sprouting from the tops of deserted skyscrapers. In their shadows, the glazed eyes of the street zombies slide into view, stumbling in front of the car. Our excitement at driving into what feels like a man-made hurricane Katrina is matched only by sheer disbelief that what was once the fourth-largest city in the US could actually be in the process of disappearing from the face of the earth. The statistics are staggering – 40sq miles of the 139sq mile inner city have already been reclaimed by nature. One in five houses now stand empty. Property prices have fallen 80% or more in Detroit over the last three years. A three-bedroom house on Albany Street is still on the market for $1.
— Detroit: the last days
text 12 Mar

Tribune Company CEO Randy Michaels has banned 119 “newsspeak” words and phrases from ever crossing the lips of anchors and reporters at WGN-AM. There’s a list here, but if you’d like them in a sentence, how about this:

In other news, stay tuned, because in our top story tonight, some really good (or bad) news: as expected, in a surprise move yesterday, informed sources say, a world class icon, diva, mother of all motorists, and famed undocumented alien, lauded for putting area residents at risk and in harm’s way, but at this point in time behind bars for allegations that — according to sketchy details that, to be fair, have officials and authorities under fire for speaking out — he reportedly engaged in shower activity with all of you folks at 5 am in the morning, underwent surgery, utilized an undisclosed vehicle in torrential rain in a near miss manhunt when it was time for a break, literally fled on foot, completely surprised his mother with a clash with bare naked police behind closed doors, definitely possibly completely destroyed a medical hospital under false pretenses, and is lucky to be alive …

(read the entire thing here.)

quote 11 Mar
Ajami” von Scandar Copti und Yaron Shani ist ein beeindruckender Film über die Gewalt und ein Panorama der israelischen Gesellschaft
— ZEIT ONLINE
photo 11 Mar Romanian street sign warns drivers of ‘drunk pedestrians’ - Telegraph

Romanian street sign warns drivers of ‘drunk pedestrians’ - Telegraph

photo 11 Mar Looks like good Tea Infuser by Pablo Matteoda

Looks like good Tea Infuser by Pablo Matteoda


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