Bits Bucket for February 11, 2015
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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Kray-
tur
realtors are liars
Got popcorn?
Can someone explain why someone would give the Swiss government 101 francs today in order to receive less than 101 francs 10 years from today?
I apologize if this has been covered here before. I don’t visit frequently.
If deflation led to a four percent annual increase in the value of a Swiss franc, the real return on these bonds would be three percent. The puzzle is why an investor wouldn’t just buy francs and earn four percent by stuffing them under a nearby mattress. What does that negative yield buy you?
stuffing them under a nearby mattress. What does that negative yield buy you?
Security from risk of theft, fire, etc.
How about keeping them in a safe deposit box at a bank?
I suppose that doesn’t work if you have a billion Euros you need to stash somewhere.
by stuffing them under a nearby mattress ??
And Colorado has your answer Pbear;
I suppose that doesn’t work if you have a billion Euros you need to stash somewhere…
And what about hundreds of Billions…Or Trillions….Safety is numero uno today…Even with negative returns…
I believe it is mostly about financiers with billions of dollars to invest, for whom Swiss bonds represent the smallest practical mattress under which to hide wealth. The 1% negative yield is the super-sized / super-safe mattress rental rate.
USA is also a super-sized mattress…
If USA is a super-sized mattress, you can get a better return here than over 10 years.
These guys figure today that they will not even get back their principal in any other investment ANYWHERE after 10 years?
There’s also the issue of risk. If you stuff dollars under your mattress, you should be concerned about your house catching fire.
If USA is a super-sized mattress, you can get a better return here than over 10 years.”
USA might decide the money was shady and confiscate it.
USA might decide the money was shady and confiscate it.
I don’t think so. If they they do that, our currency will cease to be the defacto reserve currency of the world.
It’s an attempt to discourage SF carry trade.
How is the carry trade “discouraged”? It seems like the marketplace is deciding on its own. Was some new law passed in Switzerland saying something like interest received from foreign sources like U.S. Treasuries is now taxed at 70% (when it had been 50%)?
If the Swiss government wanted to discourage a carry trade in the SF, wouldn’t it want interest rates to be HIGHER? It seems today I can borrow 101 SF today and only have to pay back 100 SF ten years from today.
Consider that you manage a fund whose bylaws require the monies be “invested” is a particular way. You are not allowed to have boxes of cash in your office.
Hey taxpayers, is this what you voted for?
http://www.bloombergview.com/articles/2015-02-10/obama-s-islamic-state-war-authorization-limits-u-s-ground-forces
your taxpayer dollars at work:
washington times - pressure builds on obama as house seeks $1 billion in military aid for ukraine
washington times - republicans back obama on islamic state military action, push for broad war powers
weekly standard - enemies of israel benefit most from campaign against bibi’s speech
weekly standard - defense spending and america’s role in the world
weekly standard - white house: paris kosher supermarket attack was ‘random’
weekly standard - centcom clarifies ‘nations conducting airstrikes’ against isis
$$$
breitbart - levin: the united states needs to be more like george s. patton
breitbart - state dept won’t say if kosher deli attack was anti-jewish attack
breitbart - if the holocaust happened today, obama would deny it
breitbart - gutfeld: ‘terror denialists’ the real ‘islamophobes’
breitbart - hezbollah expands to latin america, u.s.
breitbart - terrorists blow up girls school in pakistan
breitbart - islamist assassination attempt on pope francis thwarted
fox news - police: 2 men planned ‘imminent’ sydney terror attack
fox news - us, uk and france close yemen embassies
fox news - fighting rages on in ukraine as peace talks approach
world net daily - iran, hamas reconcile in secret meeting
world net daily - obama to seek permission for world war on isis
scgnews.com/the-geopolitics-of-world-war-iii - 292k -
Critical elements of Puerto Rico’s plan to avert financial disaster are in jeopardy, after a federal judge struck down a law that allowed the government to restructure certain debts.
The law, known as the Recovery Act, was meant to give Puerto Rico’s public corporations protections similar to bankruptcy.
http://dealbook.nytimes.com/2015/02/09/judge-threatens-plan-for-puerto-rico-to-avert-financial-catastrophe/?_r=0
Guys, guys, it’s okay: Obama put in authorization saying that the war would not be an enduring ground war, it’ll only last for three years.
http://www.nytimes.com/2015/02/12/us/obama-war-authorization-congress.html?_r=0
See, that’s why the conflicts in Afghanistan and Iraq continue to this day, fourteen and twelve years after they started - that verbiage was not in the force authorization resolutions.
And….HE’S GONE!
http://www.politico.com/blogs/media/2015/02/nbc-news-brian-williams-suspended-without-pay-202425.html
Whew, that’s harsh. He just got a $5 mil haircut, lol. I loved reading some of the comments over at ZeroHedge. As one commenter pointed out, after years of reading scripted corporate state lies and mis-information, including stuff that ran up to the Iraq war, NBC sandbags him for a few inventions of his own, lol.
Then there was the one about Paula Deen, who is hopefully indulging in a little schadenfreude of her own right about now. She got crucified by the likes of Brian Williams.
The vegetables who get their “news” from NBC are impervious to the fact they’re being lied to and spoon-fed corporate statist propaganda. You can’t fix stupid. I’m guessing a Venn diagram would show a high correlation between the NBC viewership and the dolts who voted for Bush II, aka Obama, McCain, and Romney.
Much as I despised the guy (he really did come across as a complete pompous politically correct holier than thou arse), and am experiencing some schadenfruede myself, you just gotta say “oh, the humanity”.
I mean, here’s a guy who faithfully served his corporate masters for years, obediently spitting out lies and misinformation, toeing the party line, night after night, making TPTB a ton of money. And just because he indulged in a few inventions of his own, they dock his pay and yank his gig. That should tell you something about how they treat faithful servants.
However, the media is a far more vicious business than people realize. The management of electronic media love nothing more than to play head games with their employees, even on the local level.
It’s a circus. People just want to see some blood. Nobody is talking about the really big lies that were fed to us about Iraq and other things, year in year out. All eyes on the guy who gets confused about which script he is supposed to use and nothing about the media being scripted.
I have probably never seen this guy on TV. Just my take from the conversation as an outsider.
The Daily Show had a great skit on this a couple of days ago.
I know it’s not popular to believe that there are lots of people that actually do the job that they are supposed to do, but…
His job (at least as the public understood it) was to report the news.
Regardless of whether he toed the party line and provided misinformation in the past, or whatever, it is now public that he straight up made-sh*t up.
He should have been fired. Him not getting fired says much more about the media world than him actually getting fired (in other words, it has to be a sleazy place if a newscaster who gets caught making up the news isn’t fired).
It’s not like he was being paid to report the news and he ended up getting drunk and having an extramarital affair with one of his daughter’s friends.
He did the exact OPPOSITE of his purported job.
CraterRage® Photo Of The Day
http://goo.gl/cfyQvO
speaking of impotent rage, since i started reading the drudge report, breitbart, washington times, weekly standard, fox news, world net daily on a regular basis without clearing my cookies or browser cache, i get banner ads for viagra all the time
rally the base, indeed
Why do Retardicans so relish their rage?
Not to mention their Viagra…does Crater age increase demand?
just reporting an anecdotal observation, not a political statement
see also above link titles noting ‘bipartisan’ support for world war iii
Because they’ve been co-opted by the neocons.
just put the next $1.6 trillion war on the credit card like the last one
Why do Retardicans so relish their rage?
This is a great question. There’s probably a good book out there somewhere about anger. One theory that I have is that people enjoy getting angry about the bad behavior of others because it makes them feel good about themselves.
Self righteousness is the flip side of rage.
I was going to mention the LIEberal snobbery……
Testify, brothahs!
Penniless, broke, indebted and impotent. That’s what happens when you overpay 200% for a depreciating asset like a house.
Tune in tomorrow for the CRPOTD. It’s a doozy.
uh what ads??? I still cant figure out how facebook makes any money
i am getting this ad for the ‘$10 retirement plan’ with the foxy blonde in black lingerie as clickbait
http://www.picpaste.com/8oPRGksR.jpeg
Would Wall Street shrug off a Grexit the same way they did the fall 2008 Lehman Brothers collapse?
greece should get a haircut on its debt which will allow other euro members to get a haircut. greece needs to stand its ground.
HAIRCUTS BITCHEZ!
It’s a short menu. Pay, give up the collateral or take the loss. Borrowing more isn’t an option.
What’s it gonna be?
The thugernment should confiscate at least 10% of all electronic assets in Greece. Oh wait…
I guess they learned from Cyprus and lots of them loaded up on precious metals.
The thugernment should confiscate at least 10% of all electronic assets in Greece. Oh wait…
That money is safely deposited in places like Switzerland or even here in the US.
There will be no GREXIT, as all parties are wholly devoted to “extend and pretend” and will find creative new accounting dodges to kick the can down the road for another six months or so. However, the recent tepid rally in oil appears to have reversed, which could pose a greater long-term threat to global markets and the US economy.
http://www.bloomberg.com/energy/
Would Wall Street shrug off a Grexit ??
I think they maybe hoping for it…More volatility in the EU just gets more flows of capital to our markets…Its when the EU and Russia get their chit together and the flow reverses is when our market will come under pressure IMO…
This is rather hilarious and reminds me of real people I know
http://dailycaller.com/2015/02/10/liberal-hipsters-make-race-relations-worse/
“I see you, self-infatuated fake racist finger-pointing liberal white hipsters. Everybody sees you.”
We’re talkin’ Betters here.
Some Palm Beach County news
“A Florida man who was arrested and accused of sexually assaulting a 6-year-old girl allegedly told police that it was the child’s fault.
Andres Bartomole Juan, 23, allegedly assaulted the girl twice in the laundry room of an apartment complex in Lake Worth, Florida, on Jan. 31″
http://m.huffpost.com/us/entry/6658362
“A Florida man who was arrested and accused of sexually assaulting a 6-year-old girl allegedly told police that it was the child’s fault.”
I wonder if he will stay in jail?
ICE Document Details 36,000 Criminal Alien Releases in 2013
By Jessica Vaughan May 2014
Download a PDF of this Backgrounder
Jessica M. Vaughan is the Director of Policy Studies at the Center for Immigration Studies.
Summary
[Immigration and Customs Enforcement]
In 2013, ICE freed 36,007 convicted criminal aliens from detention who were awaiting the outcome of deportation proceedings, according to a document obtained by the Center for Immigration Studies. This group included aliens convicted of hundreds of violent and serious crimes, including homicide, sexual assault, kidnapping, and aggravated assault. The list of crimes also includes more than 16,000 drunk or drugged driving convictions. The vast majority of these releases from ICE custody were discretionary, not required by law (in fact, in some instances, apparently contrary to law), nor the result of local sanctuary policies.
The document reveals that the 36,007 convicted criminal aliens freed from ICE custody in many instances had multiple convictions. Among them, the 36,007 had nearly 88,000 convictions, including:
193 homicide convictions (including one willful killing of a public official with gun)
426 sexual assault convictions
303 kidnapping convictions
1,075 aggravated assault convictions
1,160 stolen vehicle convictions
9,187 dangerous drug convictions
16,070 drunk or drugged driving convictions
303 flight escape convictions
cis.org/ICE-Document-Details-36000-Criminal-Aliens-Release-in-2013 - 73k -
So the question is “is it ever okay to have a black friend or black girlfriend as a white-skinned person without being suspected a liberal hipster?” How about hispanic? How about asian? Or to complicate things, maybe it’s okay since I am part American Indian too. So that amount of me is being friends with people of darker skin.
Silly me.
Obama actually has very little in common with the average black American.
In many ways he is whiter than most white people.
Almost blue.
“In many ways he is whiter than most white people.”
I have had that very conversation with black dudes I know. It is a shame that Obama was the first black president and he wasn’t a black guy.
more black on black murders happened under obahhma then bush…….
No its not a shame because the novelty of a “1st black president of the United States” means it could have pretty much been any black guy… because his qualifications/accomplishments would always be secondary to his novelty.
It was a “hurdle” the nation had to get over and with Obama we got over it.
Its the SECOND black president that will really count because then he will be judged entirely on merit. Whites have proved they will vote for a black president; so now they are free to vote for a QUALIFIED black president.
Look at it this way; now that there are black coaches and quarterbacks in the NFL, when I hear a white person say: “he sucks, get him outta here”; I don’t hafta assume its racism because the demographic is now large enough to account for blacks that suck.
“Look at it this way; now that there are black coaches and quarterbacks in the NFL, when I hear a white person say: “he sucks, get him outta here”; I don’t hafta assume its racism because the demographic is now large enough to account for blacks that suck.”
Well then we’re gonna need a Hispanic President cause Mark Sanchez sucks.
Sanchez butt fumble with enhanced audio - YouTube
http://www.youtube.com/watch?v=rAp57G1hLn0 - 457k -
“It was a “hurdle” the nation had to get over and with Obama we got over it.”
You’re right. Although unspoken, those same guys I have known for years, decades actually, seemed like they felt a sense of pride when Obama was elected. Although I had never put any thought into it before that I remember feeling really good for them about it.
Now if we could find a black, Hispanic, white man or woman president who didn’t get their marching orders from the CFR or the Bilderbergers that would be great.
And if it could cost us less than $9 trillion that would even be better.
Obama actually has very little in common with the average black American.
In many ways he is whiter than most white people.
If blacks were the majority Obama would be considered white.
by white people?
Follow up to yesterday’s post for 2brony, titled “Meet IL Governor Bruce Rauner — Poster Boy for War on Middle Class”
http://m.huffpost.com/us/entry/6652068
The Washington Post also has a piece titled “How growing income inequality is hurting Social Security” that bewails how the payroll tax cap of $118,500 isn’t high enough
I think the SS tax cap going up is a lock…I bet it goes up to $150k…Maybe higher…Not because of SS…Because of SS disability…The rolls of this have exploded…I think tripled in the past 15 years or so…I see them all the time at a few pubs I visit…
Your daily buffet of ILLANNOY news…..
As David Byrne sang - same as it ever was……
http://qctimes.com/news/local/government-and-politics/sister-of-top-rauner-aide-gets-state-job/article_9d3bcff0-a86a-57a0-940b-6b2b66f03b2e.html
http://chicago.cbslocal.com/2015/02/09/2-investigators-more-failed-food-inspections-at-schools/
http://www.chicagotribune.com/news/local/politics/chi-bruce-rauner-tries-to-block-fees-for-state-workers-who-dont-want-to-join-union-20150209-story.html#page=1
http://chicago.suntimes.com/news-chicago/7/71/357333/federal-prosecutors-seek-5-years-prison-former-rep-derrick-smith
You gotta live here in ILLANNOY to experience the clown circus sh*t show this place is.
FORWARD!!!!!
“it’s been the same thing for the last five years, there’s no improvement in the economy!”
CNBC Anchors Stunned: ‘There is No Economic Recovery’
by Paul Joseph Watson | February 11, 2015
Investor Steve Ricchiuto stunned CNBC hosts when he launched into a breathless rant about how there is no real economic recovery and that the Federal Reserve’s forecasts are pie in the sky.
The highlights;
“There is no acceleration in underlying economic activity.”
“There’s this wrong concept that I keep on hearing about in the financial press about the acceleration in economic growth… It isn’t happening!”
“We had a horrible retail sales number, we had a horrible durable goods number, we’re likely to have a very disappointing retail sales number coming forward, this month we have a strong payroll number we say everything’s great – it’s not great….it’s been the same thing for the last five years, there’s no improvement in the economy!”
“After a string of dismal data on durable goods, retail spending, and inventories, we get a good jobs number and everyone saying the economy’s good – it’s not good!”
“And we can keep on going,” Ricchiuto responded when Hobbs interrupted him.
According to Zero Hedge, the clip was also edited to remove host Eisen’s glib response to Ricchiuto’s sobering reality check on the real economic figures.
“But the key is that’s not what The Fed is telling us,” she stated.
So according to the financial “experts” at CNBC, actual economic numbers are less important than placing blind faith what the Federal Reserve claims is happening in its press releases.
Is it really any surprise that CNBC is hemorrhaging viewers because of a lack of transparency and a complete failure to question the Federal Reserve’s monetary policy?
You have GOT to watch the video of this guy - speaking truth to power, with the other talking heads literally about to explode the whole time, here’s a link to it from zerohedge:
http://www.zerohedge.com/news/2015-02-10/man-will-never-be-invited-back-cnbc
‘It was Sara Eisen that had the quote of the brief clip… (which has unbelievably been edited out since we posted it seems at around the 1:40 mark) when faced Steve’s barrage of facts about the real economy, replied: “but the key is that’s not what The Fed is telling us.”
‘Summing up the unbelievable ‘faith’ (misplaced beyond all reputational loss) that so many have in the central planners of the world.’
Edited out. Hmmm.
He was questioning government forecasts, so it will take time to see who is right. For viewers interested in that sort of conversation, he provided some nice entertainment for a couple of minutes. I can’t see why CNBC wouldn’t invite back in the future.
Uh huh… “take time”?
Fraudster.
Warmist Warming Wednesday
Here a forum discussion titled “why is it so warm?”
http://www.14ers.com/phpBB3/viewtopic.php?f=1&t=45778&sid=01dbd10d145bc613b1ddea63320d3b7e
Maybe - could it be …..nah - hey Obama - maybe you shoulda thought of this BEFORE you signed that piece of crap into law - you mindless idiot…..smartest guy in the room my a$$!!! Whew - needed to get that outta my system…..
And FORWARD!!!!
WASHINGTON (Reuters) - U.S. President Barack Obama singled out office supply giant Staples Inc as undercutting his healthcare reform law and said large corporations should not use the health insurance issue as an excuse for cutting wages, the news website BuzzFeed reported.
Staples Threatens To Fire Staff For Working More Than 25 Hours A Week Huffington Post
Here’s How Obamacare Is Going To Affect Your Taxes Huffington Post
White House says Obama would veto House bill to repeal Obamacare Reuters
On health-care prices, Obama goes where Obamacare doesn’t Vox.com
Obama dismissive as US House votes to repeal ‘Obamacare’ AFP
“It’s one thing when you’ve got a mom-and-pop store who can’t afford to provide paid sick leave or health insurance or minimum wage to workers … but when I hear large corporations that make billions of dollars in profits trying to blame our interest in providing health insurance as an excuse for cutting back workers’ wages, shame on them,” Obama said in an interview with BuzzFeed.
The Affordable Care Act requires companies with more than 50 employees to pay for health insurance for people who work 30 hours a week or more. Reuters has reported that some businesses are keeping staffing numbers below 50 or cutting the work week to less than 30 hours to avoid providing employee health insurance.
Don’t look now, but the 10-year Treasury yield has rocketed up by 38 bps off its recent multi-year low reached about a week ago…got volatility?
U.S. 10 Year Treasury Note
2.02
Change
+0.02 +0.92%
Volume
Feb 11, 2015 11:39 a.m.
Previous close
2.00
Open: 1.98
52 week low
1.64
52 week high
2.82
You may recall that Treasurys weathered a very rough remainder of 2013 after yields bottomed out in early May.
Bond Report
Treasury yields rise for 6th straight session
Published: Feb 10, 2015 4:34 p.m. ET
10-year yield sees largest six-day increase since June 2013
By Joseph Adinolfi
News editor
NEW YORK (MarketWatch) — Treasury prices closed lower Tuesday, driving yields higher for the sixth straight session.
The 10-year yield (TMUBMUSD10Y, +0.74%) rose above 2% for the first time in a month in morning trade, before falling back below that mark after an auction of newly issued three-year Treasury notes generated stronger-than-expected demand.
Overall, the 10-year yield rose 2.8 basis points on the day to 1.976%, according to Tradeweb data. The six-session climb in yields is the longest streak since June 2013, and the 32.2-basis-point jump over that time is also the most since June 2013.
The three-year note yield closed 1.7 basis points higher on the day to 1.033%. It fell to a session-low of (TMUBMUSD10Y, +0.74%) 1.019% following the auction.
Strong U.S. economic data like Friday’s blockbuster nonfarm payrolls report for January, and Tuesday’s job-openings data have helped push Treasury yields higher in the past week, said Jonathan Rick, interest rate derivatives strategist at Crédit Agricole.
Some positive developments out of Greece also have helped encourage investors to move money into riskier assets such as stocks and out of bonds. News related to the privatization of a Greek port offered the clearest signal to date that a positive outcome for Greece’s tense debt negotiations might result in an extension of Greek’s bailout.
Greece’s Syriza-led coalition government plans to proceed with the privatization of the Port of Piraeus, the country’s largest port, according to a report in The Wall Street Journal. Such a move would be an act of conciliation toward the country’s international creditors.
Meanwhile, the U.S. Treasury Department will auction $40 billion more in newly issued debt this week: $24 billion in 10-year notes Wednesday, and $16 billion in 30-year notes on Thursday.
In addition, Microsoft issued $7 billion in corporate debt in Monday’s session. BP PLC and Citibank are expected to issue debt Tuesday, according to Tom di Galoma, head of rates and credit trading at ED & F Man Capital Markets.
The torrent of new supply will continue to weigh on Treasurys this week, according to Crédit Agricole’s Rick.
“You’re really providing the market with a lot more assets that it needs to take down,” he added.
The yield on the 30-year bond (TMUBMUSD30Y, +0.76%) added 4.1 basis points to 2.561%, according to Tradeweb data. Meanwhile, the yield on the two-year (TMUBMUSD02Y, +0.05%) Treasury was 0.8 basis point higher at 0.652%.
…
article for downlow joe
http://www.addictinginfo.org/2015/02/10/anti-gay-pastor-goes-off-on-the-most-homophobic-adam-and-steve-rant-youve-ever-heard-video/
“full metal jacket” - “these boots were made for walking … - YouTube
http://www.youtube.com/watch?v=q5c7EH-a_Qo - 412k -
Region IV
Region XI
When I was a student at Cal Santa Barbara back in the day - this same organization was advocating divesting from South Africa until Apartheid had been done away with. Who would thunk that they now advocate divesting America!!! Sheesh!!! Me thinkin it time to make a move to Panama -
The University of California Student Association on Sunday passed a resolution urging the public university system to divest from corporations that do business with the United States.
The association cited companies that work in the U.S. and eight other countries “with governments violating human rights,” according to a UCSA release. The United States was included because of its drone strikes in the Middle East, prison system and immigration laws, among other factors, according to the resolution.
Other states listed:
Israel
Brazil
Egypt
Indonesia
Mexico
Russia
Turkey
Sri Lanka
I suppose that they are willing to pay the full cost of their school tuition and not accept subsidies from the state they are boycotting.
Looks fresh.
LA Health Officials Take Action After Local Supermarket Sells Raccoons As Food
The Health Department has taken action after a local supermarket’s frozen foods section featured an unusual item. Peter Daut reports.
losangeles.cbslocal.com/…/ - 109k -
Comment by phony scandals
2015-02-11 11:28:28
LA Health Officials Take Action After Local Supermarket Sells Raccoons As Food
losangeles.cbslocal.com/2015/02/10/la-health-department-takes-action-after-local-supermarket-sells-raccoons-as-food/
did the cops kill the manager with a choke hold?
Muskrat or Roast Beef Dinner at St. Anne Church 7 March 2015
Careful who ya marry there gents - could end up here….
http://dealbreaker.com/2015/02/banker-ex-wife-give-upstate-new-york-divorce-retreat-5-stars-on-tripadvisor/
I just put 3% down on an overpriced 3,400sqft spec house on a 4,500sqft lot. The builder threw in a warsher, dreyer and granette kounter topps.
Where’s my KRAYTOR RAGE photo of the DAY?!??!!??!?!
Oops, my bad. Just caught it up top.
Looking forward to TOMORROWS!!!! GRRRRRRRRRR!!!!
Woman Sentenced for Tormenting Couple Says She Was ‘Devastated’ Over Losing Bidding War
A San Diego woman who was sentenced for stalking a married couple was upset she had lost her dream home to them in a bidding war.
But shortly after moving in, Ruhter and Rice said strange things started happening. They received $1,000 worth of bills for adult diapers and magazines subscriptions they said they never ordered. They found their house re-listed for sale online, and buyers started showing up in their yard. There was an online ad for a New Year’s Eve party at their house that they said they never planned.
full story here
http://news.yahoo.com/woman-sentenced-tormenting-couple-says-she-devastated-over-185747018–abc-news-topstories.html
Got crater taters?
http://givemetherecipe.blogspot.com/2008/10/crater-taters-recipe.html
Do you guys thinks we should give the banks some more gambling money to get oil prices back up?
Here is a pretty good postwar Japan Korea doc:
https://www.youtube.com/watch?v=jw4ndfMAVcgt
Japans economy has been stagnant for 20 years; but they seem to have a decent living standard?
Is there any reason this can’t continue?
Everyone Must Check IN
Is 12 sex parties in three years a reasonable number, or does it seem excessive?
10 February 2015 Last updated at 09:49 ET
Strauss-Kahn: Only 12 sex parties in three years
Dominique Strauss-Kahn, centre, arrives at a Lille courthouse on 10 February, a trial involving an alleged prostitution ring. Dominique Strauss-Kahn is facing charges of “aggravated pimping”
Ex-IMF chief Dominique Strauss-Kahn, who denies charges of pimping, has told a court in northern France that he took part in only a few rare sex parties.
He said prosecutors had greatly exaggerated the frequency of his “licentious evenings”. There had only been 12 in three years, he said.
Mr Strauss-Kahn is accused of helping procure sex workers for a prostitution ring based at a hotel in Lille.
He has argued that he did not know the women were prostitutes.
Although using prostitutes is not illegal in France, supplying them or assisting in supplying them is. Prosecutors have been quoted as saying Mr Strauss-Kahn, 65, played a pivotal role in facilitating the orgies, describing him as the “party king”.
If found guilty, the one-time potential candidate for the French presidency could face up to 10 years in jail and a €1.5m (£1.13m) fine.
…
“Is 12 sex parties in three years a reasonable number, or does it seem excessive?”
Wow, maybe the 1% really are different? Great tabloid stuff!
What will happen to the eurozone if Greece’s bailout talks fall through?
ft dot com
February 12, 2015 12:13 am
Greek bailout talks with Europe break down
Peter Spiegel and Anne-Sylvaine Chassany in Brussels
A Greek and an EU flag wave in front of the ancient temple of Parthenon atop the Acropolis hill in Athens©AFP
Eurozone finance ministers’ first attempt to grapple with the bailout demands made by the new Greek government broke down in recriminations after the two sides failed even to agree a way to take negotiations forward after six hours of talks in Brussels.
Jeroen Dijsselbloem, the Dutch finance minister who chairs the committee of his 18 colleagues, said that while he had hoped a blueprint for future talks could have been agreed at the session, no negotiations were scheduled ahead of a self-imposed deadline to reach agreement on a bailout extension by Monday.
“It was my ambition to agree on the steps on the next couple days so that we could spend them well,” said Mr Dijsselbloem. “Unfortunately we haven’t been able to do that so we’ll continue on Monday and move on from there.”
Although no final deal on Greece’s proposals was in the offing at Wednesday’s meeting, senior eurozone officials had hoped that, following days of public sniping over what a new bailout programme might look like, Athens and its creditors could at least find a road map to resolving the standoff.
But officials said even those low expectations were not met and there are currently no talks expected before another meeting of finance ministers on Monday, where eurozone leaders had hoped a deal could be clinched.
“We simply tried to work on [the] next steps over [the] next couple of days; unfortunately we were unable to do that,” said Mr Dijsselbloem. “Will people be starting work in Athens or elsewhere? Not between now and Monday, because we need to have common ground on the process forward.”
According to eurozone officials involved in the talks, a joint statement had been agreed between the finance ministers and Yanis Varoufakis, their new Greek counterpart, that would have held out the chance of reaching a deal to extend Greece’s current €172bn programme beyond its February 28 expiration.
But after the meeting broke up, Mr Varoufakis consulted officials in Athens and then raised new objections to the statement’s wording, and despite efforts to find an 11th-hour compromise, the statement was scrapped. Greek prime minister Alexis Tsipras has vowed not to extend the current bailout.
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