eggroll

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  • eggroll commented on the diary post Have the Climate Deniers Won? by Elliott.

    2014-03-23 02:13:50View | Delete

    I worked for the US Navy in 1972 as a meteorological assistant. One of our projects was measuring climate change. The working hypothesis at the time was the changes in such things as average sea temperatures at the surface and at depth, as well as average air temperatures, only had to shift slightly to have [...]

  • eggroll commented on the diary post “80% of the Farm Bill Goes for Food Stamps” and Other Minnesota Conservative Shriekings by Phoenix Woman.

    2012-11-23 23:05:46View | Delete

    If you step back and look at the 15% of Americans who get nutrition subsidies, nearly half are children and about 8% are elderly. They account for $40 billion of the $75 billion spend on nutrition programs. While it’s kind of hard to expect such takers to get a job, there is plenty of room [...]

  • eggroll commented on the blog post Oligarchy Is the Problem

    2011-11-06 22:15:48View | Delete

    You really can’t discuss modern Russian politics without mentioning oligarchs — people who turned state property into their property. By that definition, the Koch brothers are poster boys for this trick.

  • eggroll commented on the blog post Bank of America Begins Walkback on $5 Debit Card Fee

    2011-10-30 22:20:46View | Delete

    I love David Dayan, he is an excellent journalist. However, if your only power against BofA is to go after the retail banking relationship, you’ll never win. Time to have a sit down with a wealth aunt or other relative that has trust accounts with BofA (Merrill Lynch). Here’s text from BofA’s own 4Q2010 report.

    Record asset management fees were reported in Global Wealth and Investment Management in the fourth quarter of 2010 with $644 billion in assets under management at December 31, 2010.
    Average deposit balances in Global Wealth and Investment Management grew nearly 14 percent in the fourth quarter of 2010 to a record $253.4 billion from $223.1 billion in the fourth quarter of 2009.
    Approximately 281,000 loan and deposit products were sold to customers who had an investment relationship with Merrill Lynch in the past.

  • eggroll commented on the blog post ‘We Are the 99 Percent’ Photo of the Day

    2011-10-22 00:50:30View | Delete

    Functionally literate individuals are always an asset to society. That said, I do have two question. First, why such a degree in isolation (why didn’t she complement that degree with something else?). Second, and this sort of the third leg of the literacy stool, why isn’t there an indication of functionality in at least one other language (Chinese, Polish, German, Japanese, Spanish, Latin, Sanskrit, Bemba, Swahili, anything). American education has incurred a self-inflicted injury to international competitiveness and employment by ending foreign language training in the US. When I went to first grade in California in 1959 we had Russian (Cold War times).

  • Let’s not forget the $308 million for House Whip Kevin McCarthy’s “clean coal” project west of Bakersfield. The project, originally led by a consortium of GE, BP and Rio Tinto, involves constructi­on of the Elk Hills Hydrogen Energy California Project (HECA), a mid-sized 250MW plant to demonstrate capture and sequestering of 2 million tons of carbon a year. (Note: What the plant is supposed to run on is not exactly clear “Petcoke to Hydrogen (flexible fuel)” and the HECA site doesn’t seem to work, so they may have just taken the money and ran. Thank you, America!)

  • eggroll commented on the diary post TSA: First Do No Harm by rosalind.

    2010-11-23 00:48:06View | Delete

    I once had to write press releases for an oil refinery. The basic message was that it was basically a fresh air factory that occasionally malfunctioned causing a naturally safe “odorous nuisance” to arise. Incredulity and hilarity ensued for anyone trying to read the release, but it gave a bit of cover for ongoing hydrogen [...]

  • eggroll commented on the blog post Let Me Welcome Matt Taibbi to the Foreclosure Fraud Crisis

    2010-11-13 05:54:49View | Delete

    I agree with Taibbi about the giant Ponzi scheme, but there seems to be a bit of misunderstanding about what happened in derivatives markets. A derivative instrument is basically a contract with underlying assets and promises to perform if, say, the value or amount of the asset changes. Near the peak of the housing bubble, the nominal value of exchange-traded derivate contracts globally was about $524 trillion. In principle, there were parties at each end of these contracts and if each party performed the contracts would be settled. Gradually, they would fold down to a value of $0 outstanding if everybody performed. Not performing is considered so bad that a broker would face banishment and other sanctions. What happened was that parties that could not guarantee performance got into the game, bringing down the house with massive knock-on effects. Obviously, off-exchange credit default swaps based on mortgage-backed securities were one source of instability, but not the only one. Remember copper prices quintupling? $40,000 a ton nickel? Rice shortages? $140 oil? This had nothing to do with conditions in the real economy and everything to do with speculation. The name of the game was to get some unsuspecting sucker up on the other end of the contract. If you were a bank and you found yourself on the short end, you tried to fob it off on say depositors or unsophisticated investors, and failing that, the taxpayer.

  • eggroll commented on the diary post Russ Feingold’s Loss is the Most Tragic by Chuckie Corra.

    2010-11-04 08:07:41View | Delete

    Actually, not a bad idea. Bush gave John Ashcroft the AG job after he lost to Mel Carnahan. Why not create a special commission to study the impact of foreign money on the US political process in the wake of Citizens United. Subversion of the US political process is something all Americans would be interested [...]