Marvin:
maybe they work for hedging purposes,
but they still represent a potential source
of catastrophic instability.
No! This was not my point. My was not that maybe they
work for hedging purposes. My point was that they may
work for hedging purposes but not always.
Size matters.
Also my
I said:
Marvin:
maybe they work for hedging purposes,
but they still represent a potential source
of catastrophic instability.
No! This was not my point.
By the way, it happens that I was the last product
manager of the Leland-Rubinstein portfolio insurance
program. It died in my hands
that
investors find the limitation of liability an
attractive feature. What is wrong with that view?
Wrong in what sense - moral culpability, economic benefits or private
interest ? The search in on for new legal forms to offload costs and losses.
LLCs provide tax and managerial advantages.
J.
Jim:
I think Sabri goes much too far. All contracts --
including unsigned ones -- are based on trust,
not love.
Not all but most and I agree. Trust is the main thing.
What I had in mind when I wrote what I wrote was my
contracts with my late father, my son, my spouse, a
few close friends and
Wrong in the sense lacking explanatory power. David
S.and I are conducting a fairly austerely nonmoral
discussion about the nature and proper explanation of
the corporation. jks
--- Jurriaan Bendien [EMAIL PROTECTED] wrote:
that
investors find the limitation of liability an
attractive
A new species of officer is achieving greatness in the Israel Defense
Forces. These people did most of their service as occupation officers, and
their excellence is a function of the degree of violence and brutality they
exercise against the Palestinians. The most striking example of this trend
is
For the entire time I was a member of the SWP and active in the Central
America solidarity movement from the late 1960s until 1990, I never
attended a SSC although I was certainly aware that they were taking
place. I went to one in the early 1990s just out of curiosity, but found
little of
Sabri Oncu provided some unhelpful comments about my queries on derivatives.
1) If he were advising the government of Cuba would he immediately recommend
it drop its sugar derivatives program -- and, by extension, advise other
poor countries to do the same in relation to their own resources?
2)
It is actually more complicated since the US Federal Reserve directly influences the cost of bank funds that are resold to consumers directly through the Federal Reserve discount rate (currently 1%) . Also, the regulation (or lack thereof) of the sale of mortgage-backed securities on the
1) If he were advising the government of Cuba would he immediately recommend
it drop its sugar derivatives program -- and, by extension, advise other
poor countries to do the same in relation to their own resources?
I, for one, see nothing wrong with hedging on the futures market to try to
Mike B. writes:
I'm wondering about these pressures to cut costs which
Chomsky refers to. Don't they lead to the big, nice
co:operative having to try to find cheaper sources of
material via low wage, usually dictatorial political
states?
FWIW, David Schweikert's market socialist utopia of
Thanks. This is more what I was looking for. I wouldn't discount efforts
towards some form of self-regulation in the overall self-interest of
investors, however, and especiially by the big banks who are forced to take
a bath to take when heavily leveraged big players like LTCM bet wrong and
can't
Sabri writes:
The issue is the following;
If I heartlessly set up some objective functions and
crank my optimization tools to optimize them, why
should anybody trust me?
What if the optimal solution of my objective function
requires me to screw you?
that's my concern, too. I think that
- Original Message -
From: Marvin Gandall [EMAIL PROTECTED]
Thanks. This is more what I was looking for. I wouldn't discount efforts
towards some form of self-regulation in the overall self-interest of
investors, however, and especiially by the big banks who are forced to
take
a bath to
Title: Message
Subject: George Carlin on Indians"...Now
the Indians. I call them Indians because that's what they are. They're
Indians. There's nothing wrong with the word Indian.""First of
all, it's important to know that the word Indian does not derive from Columbus
mistakenly believing
Just to reply quickly to Louis's points:
1. To begin with, there was absolutely nothing about Venezuela or
Haiti - two of the more important hot spots in the world today.
Reply: Best to concentrate on what is there, not on what is not there. Louis
underestimates very much the attack of Richard
I think it was good of Juriann Bendian to raise it, and bad
for Sabri to curtly dismiss his effort as a bad essay without any
explanation except derivative are dangerous (indeed) and to invite me to
kiss his sweet cheeks for pursuing the thread.
Don't worry about that. Sabri is really talking
a) prohibit the $130 trillion trade in derivatives altogether.
It is not a $130 trillion trade in derivatives, if you want to be precise.
The trade is a contractual assurance exchanged for a fee. That BIS estimate,
refers to the value of the underlying asset (tangible or financial), which
is
One of the problems with a capitalist society (or, more generally, a
commodity-producing one) is that market competition encourages rampant
individualism and instrumentalism, undermining the needed fellow-feeling and
trust.
A problem I think is that many leftist politico's think that solidarity
Just to supplement Jim's comments, in Mondragon wages were set at comparable
outside market wages and then profits at the end of the year were allocated
to individual members savings funds which would be paid out on retirement.
The purpose was to build up funds for investment in expanding the
Jurriaan Bendien wrote:
Don't worry about that. Sabri is really talking about something different.
Sabri is a good guy anyhow. Sometimes he just overemphasises his need to be
Turkish, that is all.
That's because he is in exile.
Joanna
BBC World service this week featured a programme about drums quoting a
Paul Barnes saying that the earliest evidence for human music making
goes back 30-35 thousand years ago and consists of a series of
lithophones - stones in the form of stalacities that would resonate at
different frequencies
That's because he is in exile.
Yes, I knew that. My own exile is more self-imposed, to the extent that,
after what happened to me, basically I just want to shut a lot of stuff out,
so that I concentrate better on saying and doing what I mean, and not what I
do not mean, or what other people
Dennis Robertson. What Does the Economist Economize? in Economic
Commentaries. London: Staples Press, 1956, pp. 147-55.
He said that we economize love.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
Louis Proyect wrote:
To begin with, there was absolutely nothing about Venezuela or Haiti--two
of the more important hot spots in the world today.
I'd have loved to hear the discussion on Organizing in the U.S. South, but
I wasn't able to. Did anybody on the list go to this meeting yesterday
--- Devine, James [EMAIL PROTECTED] wrote:
Mike B. writes:
I'm wondering about these pressures to cut costs
which
Chomsky refers to. Don't they lead to the big, nice
co:operative having to try to find cheaper sources
of
material via low wage, usually dictatorial political
states?
FWIW,
- Original Message -
From: Michael Perelman [EMAIL PROTECTED]
Dennis Robertson. What Does the Economist Economize? in Economic
Commentaries. London: Staples Press, 1956, pp. 147-55.
He said that we economize love.
==
Doesn't Albert O. Hirschman suggest something
BBC World service this week featured a programme about drums quoting a
Paul Barnes saying that the earliest evidence for human music making
goes back 30-35 thousand years ago
Well you shouldn't believe just any sort of sexed-up English story, you
know. There's the serious side of the BBC and
I heard discussion of Haiti and Venezuela at the SSC - in a panel
organized by the Brecht Forum. The excellent Bill Fletcher of the
TransAfrica Forum discussed both quite incisively. He pointed out
that in the case of Haiti, as with Rwanda, discussion has been
hampered (especially among black
Thanks for those insights, Paul. I really do
appreciate them. They do confirm my suspicions about
how the wages system and commodity production, no
matter how nicely controlled, have historically tended
in the direction of re-creating the social relation we
know as Capital and the eventual
--- Michael Perelman [EMAIL PROTECTED]
wrote:
Dennis Robertson. What Does the Economist
Economize? in Economic
Commentaries. London: Staples Press, 1956, pp.
147-55.
He said that we economize love.
Reminds me of that old song Love for Sale.
Interesting that the word wares appears in the
The psy-war will continue, whoever did the bombing.
Regards,
Mike B)
***
On March 11 about two hundred people were killed in
Madrid in a bomb attack closely resembling the bombing
of the Bologna railway station in Italy, more than 20
yrs ago.
Mike Ballard wrote:
--- Michael Perelman [EMAIL PROTECTED]
wrote:
jks wrote:
joanna wrote:
snip happens
pish tosh! bah humbug! you sentimentalists! all you need to remember is
the words of the sister: what's love but a second hand emotion?
It's physical
Only logical
You must try to ignore
If anyone has read Dan Clawson's new book, "The Next Upsurge: Labor and the
New Political Movements," I would be interested in your comments on it. It
contains a numberof interesting case studies in which unions have acted
"outside the box" so to speak and had success in organizing and
MICHAEL YATES wrote:
If anyone has read Dan Clawson's new book, The Next Upsurge: Labor
and the New Political Movements, I would be interested in your
comments on it.
I'm definitely going to get the book and have him on my radio show
soon. Feed me any questions you'd like me to ask him.
Doug
http://www.swans.com/ March 15, 2004 -- In this issue:
Note from the Editor:
Now that the Deaniacs have officially taken a Kerryian outlook of the
world, Howard Dean can call for the multinational removal of Robert Mugabe
of Zimbabwe on NBC's Meet The Press. Saddam Hussein's removal would have
http://www.latimes.com/news/local/la-me-desal14mar14,1,3121533.story?coll=la-home-local
CALIFORNIA
A Wave of Desalination Proposals
More than 20 projects to make seawater fit for the tap are being
considered in the state. Those from private firms stir debate over
public's interests.
By Bettina
http://www.latimes.com/business/la-fi-flan14mar14,1,12.column?coll=la-headlines-business
JAMES FLANIGAN
Latin America Turns Off the Investors It Needs
James Flanigan
March 14, 2004
Last week, after 15 years of trying to build a business in Latin America,
BellSouth Corp. disconnected from the
Deep-rooted commodity trap lies behind Africa's poverty
Kamran Kousari
Monday March 15, 2004
The Guardian
Gordon Brown and Jim Wolfensohn, writing in the Guardian on February 16 -
A new deal for the world's poor - provided a candid assessment of the
gulf between the promises and achievements of
pish tosh! bah humbug! you sentimentalists! all you
need to remember is
the words of the sister: what's love but a second
hand emotion?
It's physical
Only logical
You must try to ignore
That it means more than that
;-)
If you look at What Is This Thing Called Love, it's
not
The knight sets forth...
1. In Mimesis in the Origins of Bourgeois Culture (Theory and Society,
Autumn, 1977) Sharon Zukin suggested that the Protestant ethic, to which
Weber attributed the spirit of capitalism -- Benjamin Franklin's
moralizing about hard work and thrift -- the cult of the
Porter is prety cold-eyed about love, which was my
point to Joanna. He's the fella that wrote Love For
Sale, among others.
Electric eels, I might add, do it
Though it shocks 'em I know
Why ask if shad do it
Waiter, bring me shadroe
Tom Walker
604 255 4812
[New York Times]
March 15, 2004
Bashful vs. Brash in the New Field of Nanotech
By BARNABY J. FEDER
PALO ALTO, Calif. - When it came time to invite a representative company
to attend President Bush's signing of a bill last December authorizing
$3.7 billion in federal spending on nanotechnology
Marvin:
I have a genuine interest in the issue, want to
know more about it, and have no ax to grind. I
think it was good of Juriann Bendian to raise it,
and bad for Sabri to curtly dismiss his effort as
a bad essay without any explanation
except derivative are dangerous (indeed) and to
The state is the guarantor of capital. corporate America may think in the short term but when greenspan reports to congress on energy he uses the words long term average costs and security.
that oil will run out is inevitable. by now we have probably mined the whole weight of the earth in some
Btw he does have a song called: It's A Chemical
Reaction, That's All
Yes, the divine Cyd Charisse sings it in terrific movie called Silk
Stockings. The movie itself is a remake of Ninotchka --which proved
Garbo can't do comedy. Anyway, the only remake I can think of that's
better than the
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