Month: May 2012

It’s Jobless Thursday

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And it’s good news, with initial claims falling by 27K to 365,000, beating estimates, and continuing and extended claims fell as well, though the less volatile 4-week moving average rose.

The real news on the economy though is the fact that Euro zone unemployment  hit a record high:

Rising unemployment and plunging business confidence in the euro area revealed the increasingly fragile state of the region’s economy on Wednesday, as voters in France and Greece prepare to deliver their verdict on austerity in Sunday elections.

Official figures showed that unemployment across the 17-member single currency zone increased by 169,000 in March, for the 11th consecutive month, to hit 17.37m. The unemployment rate was 10.9%, the highest level in its history.

Even in Germany, which has so far largely escaped unscathed from the downturn sweep of the labour market, unemployment began to tick up in March, though it remained at just 5.6% of the workforce.

There was also evidence that businesses are being hit by what many analysts expect to be a eurozone-wide recession. The manufacturing PMI for the zone in April – a measure of confidence among businesses – registered a sharp decline, from 47.7 to 45.9, the lowest since June 2009, and well below the 50 mark which signals growth.

BTW, in the US, consumer confidence to a 2 month low.

To quote Bette Davis, “Fasten your seat belts, it’s going to be a bumpy night.”

The Oatmeal Nails It

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Basically, the artist described his experience attempting to legally rent Game of Thrones.

Here are the first few frames:


link

Read the whole thing.  It shows how the need for control makes the studios sh%$ on their customer, which in turns drives people who want to act in accordance with the exclusive license that the content producers hold to Bit Torrent and the like.

Read the whole thing.

It Looks Like the IRS Crackdown on Foreign Banks is Creating Real Results

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The number of rich expat Americans who are renouncing their citizenship has increased as a result of new banking regulations:

Rich Americans renouncing U.S. citizenship rose sevenfold since UBS AG whistle-blower Bradley Birkenfeld triggered a crackdown on tax evasion four years ago.

About 1,780 expatriates gave up their nationality at U.S. embassies last year, up from 235 in 2008, according to Andy Sundberg, secretary of Geneva’s Overseas American Academy, citing figures from the government’s Federal Register. The embassy in Bern, the Swiss capital, redeployed staff to clear a backlog as Americans queued to relinquish their passports.

The U.S., the only nation in the Organization for Economic Cooperation and Development that taxes citizens wherever they reside, is searching for tax cheats in offshore centers, including Switzerland, as the government tries to curb the budget deficit. Shunned by Swiss and German banks and facing tougher asset-disclosure rules under the Foreign Account Tax Compliance Act, more of the estimated 6 million Americans living overseas are weighing the cost of holding a U.S. passport.

Good.

If they renounce their citizenship, they cannot make political contributions to buy legislators.

I’m Not the Only One Who Thinks Google’s Upgrades Suck

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John Aravosis of Americablog has seen the new blogger update, and it has him planning to move the whole blog to WordPress:

Welcome to my own personal hell. Welcome to the new Blogger content management system, created by Google, that is incompatible with iPhones or iPads, and whose iphone app is a complete and utter disaster.

They’ve gotten similar responses about their changes to Gmail (here’s a hint, go with the high contrast theme to make it bearable)

I’m beginning to wonder if they are intentionally screwing the pooch.

Nicolas “Petain” Sarkozy

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So, Nicolas Sarkozy is going thoroughly right wing and anti-Muslim:

Nicolas Sarkozy has stepped up his appeal to France’s far-right by lauding national identity, borders and French Christian heritage at a vast open-air rally in the shadow of the Eiffel tower.

………

Sarkozy’s alternative May day Labour rally, which he initially said was a defiant celebration of “real” work versus the traditional trade union marches, had caused a political slanging match in France.

A Communist newspaper and various commentators likened the president to Marshal Pétain, the leader of France’s Nazi collaborationist Vichy regime in the 1940s, for trying to appropriate the “values of work” for the right. His party slammed the parallels as shameful and disgusting.

(emphasis mine)

You have to understand: The French Republics (all of them) have had a tradition of militantly secular, as in, “If you get married in a church, it doesn’t count, do it again at the town hall.”

He doesn’t get why National Front Leader Marine Le Pen got so many votes.  While part of it is the fact that she puts a softer and more sophisticated edge on the right wing xenophobic message, the rest is because both Sarkozy and Hollande were perceived as being too EU friendly, and in particular, they are not fond of German hegemony in the EU.

Sorkozy does not get it:  He won’t get their votes in sufficient quality because he is Merkel’s toady, and Merkel’s frantic attempts to bolster his reelection efforts just makes it more obvious.

Shareholders Revolts Against Executive Compensation is Getting More Common

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This time it’s Barklays, and once again it failed:

Shareholders have demonstrated their mounting anger over runaway boardroom pay, delivering a huge protest against Barclays pay policies – including the £17m package for chief executive Bob Diamond.

Nearly a third of shareholders failed to back the remuneration report at a sometimes hostile annual meeting in the Royal Festival Hall, London, where one shareholder warned of the damage to the bank’s reputation because of its pay deals.

Shareholders also handed a severe rebuke to Alison Carnwath, the non-executive director who sanctioned the pay deals. More than one in five investors failed to support the re-election of Carnwath, a veteran of many boardroom battles, to the board – a huge protest given that directors usually expect near-unanimous support for their positions.

You used to hear about this once a decade.

We’ve had 3 in the past 6 weeks.

Even if they lose, it’s a step in the right direction.

What a Crybaby

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David Prosser is now claiming that the judicial investigation of his choking of a fellow justice is an infringement of his speech rights:

State Supreme Court Justice David Prosser said Monday that the Wisconsin Judicial Commission’s investigation into his alleged ethical violations is itself a violation of his constitutional rights, according to a court filing.

Prosser, the subject of an ethics complaint filed in March with the Supreme Court, said in his response to the complaint Monday that the commission “may not investigate or prosecute protected speech, advocacy and etiquette of Wisconsin Supreme Court justices when they are deliberating in confidential closed conferences.”

The three alleged ethics violations stem from a June 13 incident in which Prosser acknowledges putting his hands around the neck of Justice Ann Walsh Bradley “to protect himself” and a February 2010 incident in which he admits calling Chief Justice Shirley Abrahamson “a total bitch.”

First, it wasn’t a closed conference, it was a discussion in Bradley’s office, and he was asked to leave, and he is alleged to have assaulted her.

Beating up on a woman is not, “deliberating in confidential closed conferences.”

As an aside, anyone want to bet that this isn’t the first time that he’s been “alleged” to have assaulted a woman?