I read the linked article....it presents a somewhat "cynical" view of American sociology...I don't doubt that all the cynicism is well deserved... I was glad to see the name of T. Adorno cited there....a blast from my own (limited) academic past in these areas....(I can't accept Adorno's phenomenological bent, but I applauded his basic ethical honesty). But European (at least Marxist oriented) Sociology was a different animal, wasn't it? ....
Getting to your own post on biology stories.... as usual, I'm blown away with and by your thinking process.... I'm familiar with Lyme Disease.... Lyme is next door to me (HAR)...Actually.... the woodlands around here may be stabilizing (not growing or decreasing)... the State transplanted Western Coyotes back into the environment to help control the deer population.. the Coyotes interbred with the Eastern Wolf that was still around in some quantities and now there are larger wolf-coyotes all over, even in suburban areas... feasting on all the suburban pet cats and dogs that they can munch on (HAR). As for the Lyme Disease ticks...they're still around (both on the deer and on the coyotes)... no cure for the disease, but antibiotics is a remedy if not a complete cure.What's the financial lesson..... maybe it's don't live close to Plum Island, with its biological animal research facilities (uncorroborated rumor is that the labs out there engineered the Lyme Disease)...or don't let the scientists play with biological weapons.... Parsitism to economic rents.....Ant held insect slaves to debt peonage....let me ask, what is the connecting logic or the comparative principle... ... I mean, is there some similar causative link , be it direct or procedural.... Your observation about the Gold Price losses could well be prescient....it just seems to me that there's too much economic malaise world-wide..... little growth anywhere... On Monday, April 15, 2013 8:07:57 PM UTC-4, archytas wrote: > > I think there's a danger of diving in too deep with science. I mean > 'biology lessons' literally - with a bit of a twist. I agree on the > usual science types in psychology-sociology. This is my take on the > practice as a whole - > > http://www.alternet.org/media/propaganda-system-has-helped-create-permanent-overclass-over-century-making?paging=off > > > What I have in mind are biology stories like the life-cycle of Lyme's > disease. Humans move into woodland and wolves leave. This causes an > eco-chain collapse that leaves mice, via connection with coyotes (and > a lot more) doing rather well, and by more connections in the disease > life-cycle to human getting the disease. It's well complex. Twist is > to look at a financial chain after this lesson. Parasitism is the > most common life-style on earth - twist discuss 'economic rents'. > Ants take slaves - these slaves rebel in a very altruistic manner to > save others of their species - twist - discuss the work saving > adaptation and debt peonage in the human condition. Various > statistical approaches spring to mind - twist - they help in > describing the reality of observations - discuss how complex maths in > finance loses this reality connection. > > One can think back to Hume and Mach here - applied to the 'real' bit > of atoms being the spreadsheet of recorded observations, not the model > of something we never see - you should be well into that - twist - loo > at big company accounts that don't reveal ecological damage and human > costs locally - why does science try to include everything and yet > finance rely on making a lot external? > > There's lots more - notably the role and definition of work in > science. > > Beyond this I know I've taught many fools to use frequency > distributions and quants generally - but very few to work out how to > find out if the formulas are in any way inclusive of the right > variables and how they collate. There's a good topical example. The > gold price crashed before Lehman and did so again over the last week > (worse). So we might see crash two tomorrow or shortly - but I have > to say I have no full correlation. My actual guess here is that this > is insider stuff - the price ramped by people who knew they were going > to short it. Goldman and others were telling their muppets to buy but > are now short themselves on the position. I think markets were rigged > pre-Lehman and more so now so I'm not sure a gold drop means the same > thing now. > > On 15 Apr, 15:49, nominal9 <[email protected]> wrote: > > I think the biology lessons can help change the way we describe our > > economic problems Nom. I doubt sensible people would allow economics > > if they knew what it was. / Archytas.... > > > > Did I sound a bit "short" above?... sorry if I did.....I like to think I > > admit my ignorance readily enough, and am open to the cure.... please > tell > > me how biology lessons can help "us" describe our economic problems, > > further.... if you are inclined to tutor a sometimes "lazy" student > (true > > enough I assure ya)..... > > > > I have to admit, though.... that the standard "psychological" or > > "sociological" theories usually make me rebellious... you know my own > > background.....literature and history, philosophy and rhetorical logic > and > > such.....especially nominalism.... I like to"prefer" the ability of > > individual choice and liberty of free will in most or all things... etc. > > > > I remember some of the "older" psychological theories of human > motivation > > and development..... > http://en.wikipedia.org/wiki/Maslow%27s_hierarchy_of_needs > > > > I think this system above pretty much encapsulates (or generates) most > of > > the notions..... > > > > The later.... attachment theory...seems adapted toward early > developmenthttp://en.wikipedia.org/wiki/Attachment_theory > > I suppose are more up to date and accepted... but I was more familiar > with > > the "freudian" (?) oral versus anal classifications.... (Always got a > > chuckle out of that, myself)..... > > > > Anyway... my same criticism applies.....to much "regimentation" in the > > theoretical "categories".... not enough leeway for human inttellect and > > free will in development... > > > > Dare I say it? (HAR, of course I dare).....It always seemed to me that > the > > "scientific" sociologists and psychologists were more interested or > adept > > at potty training puppies than they were at rearing human beings... > > > > > > > > > > > > > > > > On Tuesday, March 26, 2013 11:18:57 AM UTC-4, nominal9 wrote: > > > > > Bail-Ins instead of Bail-Outs....there you go.... > > > > > somebody's finally thinking.... contrary logic.... > > > > > HAR HAR HAR HAR. > > > > > I like it.... > > > > > the U.S. should go back and "bail in" the Wall Street banks and > trading > > > firms..... > > > > >http://www.reuters.com/article/2013/03/26/eurozone-banks-bailouts-idU... > > > > > > Cyprus rescue marks "game-changer" for Europe's banks > > > > > - > > > - inShare > > > - Share this > > > - > > > - Email > > > - Print > > > > > Related News > > > > > - Global shares, euro checked by Cyprus bailout nerves< > http://www.reuters.com/article/2013/03/26/us-markets-global-idUSBRE88...> > > > 9:17am EDT > > > - WRAPUP 10-Cyprus leader hails bailout, but banks stay closed< > http://www.reuters.com/article/2013/03/25/eurozone-cyprus-idUSL5N0CH0...> > > > Mon, Mar 25 2013 > > > - Shares, euro retreat as Cyprus deal stirs unease< > http://www.reuters.com/article/2013/03/25/us-markets-global-idUSBRE88...> > > > Mon, Mar 25 2013 > > > - Analysis: Cyprus rescue raises new questions about euro's > long-term > > > survival< > http://www.reuters.com/article/2013/03/25/us-eurozone-cyprus-contagio...> > > > Mon, Mar 25 2013 > > > - Cyprus and EU agree draft proposal to rescue banks< > http://www.reuters.com/article/2013/03/24/us-cyprus-parliament-idUSBR...> > > > Sun, Mar 24 2013 > > > > > Analysis & Opinion > > > > > - One-off or precedent?< > http://blogs.reuters.com/macroscope/2013/03/26/one-off-or-precedent/> > > > - The Dijsselbloem Principle< > http://blogs.reuters.com/felix-salmon/2013/03/25/the-dijsselbloem-pri...> > > > > > Related Topics > > > > > - Investing and Taxes Simplified »< > http://www.reuters.com/subjects/investing-simplified> > > > - Financials » <http://www.reuters.com/sectors/financials> > > > > > By Steve Slater > > > > > LONDON, March 26 | Tue Mar 26, 2013 10:13am EDT > > > > > (Reuters) - If the bailout of Cyprus is a template for European rescue > > > deals it marks a "game-changer" for banks that could raise funding > costs, > > > see deposits shift more quickly and delay the prospect of higher > dividends<http://www.reuters.com/finance/markets/dividends?lc=int_mb_1001> > > > > . > > > > > Europe signalled this week that large depositors would shoulder part > of > > > the cost of future bank bailouts after savings over 100,000 euros were > > > targeted in the Cyprus rescue package. That sent bank share prices > falling > > > and pushed up the cost of insuring bank debt against default. > > > > > "Bail-in is thus replacing bail-out. As a consequence, the cost of > bank > > > funding will increase, bank deposits will become less sticky, and > banks > > > must hold more equity capital to reassure their creditors," said Nick > > > Anderson, analyst at Berenberg. > > > > > "The elephant in the room has been spotted at last." > > > > > Jeroen Dijsselbloem, head of the Eurogroup of euro zone< > http://www.reuters.com/subjects/euro-zone?lc=int_mb_1001> > > > finance <http://www.reuters.com/finance> ministers, said on Monday > that > > > in future, the currency bloc should first ask banks to recapitalise > > > themselves, then look to shareholders and bondholders and then "if > > > necessary" to uninsured deposit holders. > > > > > "Now that the crisis is fading out, I think we need to dare a little > more > > > in dealing with this," he said. > > > > > In addition to big depositors, senior bondholders in Cyprus's > > > second-largest bank, Laiki, will be wiped out and holders of senior > paper > > > in the largest lender, Bank of Cyprus, will also be hit. > > > > > In previous packages for Greece <http://www.reuters.com/places/greece>, > > > > Ireland <http://www.reuters.com/places/ireland?lc=int_mb_1001>, > Portugal<http://www.reuters.com/places/portugal?lc=int_mb_1001>and Spain, > leaders were unwilling to force losses on either senior > > > bondholders or savers for fear of prompting flight from banks across > the > > > region. > > > > > Under new EU regulations, senior bondholders would bear part of the > cost > > > of future bank bailouts but that provision is not due to be enforced > before > > > 2015. Non-eurozone member Denmark is the only EU state to impose > losses on > > > senior bondholders in recent years, but after its banks were shut out > of > > > debt markets <http://www.reuters.com/finance/markets?lc=int_mb_1001> > in > > > 2011 it has moved to limit the likelihood of such losses. > > > > > Europe's banking index was down nearly 0.6 percent by 1310 GMT, adding > to > > > a 1.9 percent fall on Monday and putting it on course for a fourth > > > successive daily fall. > > > > > Banks in Italy <http://www.reuters.com/places/italy> and Spain, two > > > countries at the heart of the euro zone< > http://www.reuters.com/subjects/euro-zone?lc=int_mb_1001>crisis, were > among the biggest fallers with UniCredit and Spain's BBVA down > > > over two percent. Italian regional lender Banca Carige had slid over > three > > > percent. > > > > > The cost of insuring European banks' senior bonds against default > rose, > > > with the Markit iTraxx senior financials index widening 14 basis > points to > > > 181. The index for subordinated bonds - riskier as they rank behind > senior > > > debt if a bank is wound up - widened 20 basis points to 302 basis > points. > > > > > Critics of the action on Cyprus said it had re-established the link > > > between weak banks and weak sovereigns and could scare depositors, but > > > others said it was long overdue. > > > > > "Finally the EU is doing the right thing. If you take risk, if you're > an > > > equity holder, a bondholder, or an uninsured depositor, you should be > at > > > risk," said Simon Maughan, analyst at Olivetree Securities. "It is the > > > bailing out of the bondholders that has been the biggest problem > throughout > > > these bailouts." > > > > > Maughan said there were still risks in Spain, Italy< > http://www.reuters.com/places/italy?lc=int_mb_1001>and possibly > > > France <http://www.reuters.com/places/france>. "The only way to deal > with > > > them would be to make the investors that put money in in the first > place to > > > front up," he said. > > > > > "WAKE-UP CALL" > > > > > Deposits above 100,000 euros have been at risk since the level of > > > guarantee was raised and reinforced during the 2008/09 financial > crisis. > > > Cyprus is a reminder that above that level depositors are effectively > > > unsecured creditors. > > > > > Savers are more likely than ever to spread their cash around, analysts > > > said. > > > > > "It's a wake-up call... and deposits are likely to be more fluid if > you > > > see a risk emerging," Maughan said. > > > > > "It is now rational for ... depositors to move their money to stronger > > > non-Eurozone banking jurisdictions such as the UK or Switzerland," > said > > > Andrew Lim, analyst at Espirito Santo. > > > > > Mike Harrison, analyst at Barclays, said the Cyprus events could also > > > speed up plans for countries to establish pre-funded schemes for > deposit > > > insurance. > > > > > "This could be a catalyst to more harmonisation of the pre-funding of > the > > > scheme," he said. > > > > > Bondholders are likely to be more alert to risks too. > > > > > "The concept of bail-in appears to be happening quicker than perhaps > > > people had anticipated. It feels that with Cyprus it is potentially > now > > > grinding closer in theory and in practice," Harrison said. > > > > > That is likely to increase volatility, especially for banks seen as > more > > > at risk, and result in greater differentiation in borrowing costs for > > > strong names like HSBC versus more risky banks such as Italy's Monte > Dei > > > Paschi, which has received a 4 billion euro Italian state bailout. > > > > > The yield on Monte dei Paschi's senior debt rose 41 basis points to > 5.16 > > > percent early last week after an initial plan to tax Cyprus bank > deposits > > > was announced. It has since bounced around from 4.80 percent on Monday > to 5 > > > percent on Tuesday. In contrast, senior debt for HSBC remained steady > at > > > around 1.5 percent. > > > > > Banks may have to hold back on lifting dividends if investors demand > they > > > hold another buffer on top of minimum capital requirements, analysts > said. > > > That could dent hopes of a possible rise > > > > ... > > > > read more » > -- You received this message because you are subscribed to the Google Groups "Epistemology" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/epistemology?hl=en. For more options, visit https://groups.google.com/groups/opt_out.
