Sen. Inhofe: Paulson Made Martial Law Threats

Business and Media | At the time of the votes on the $700-billion bailout bill, which finally passed Oct. 4, there were dire warnings of calamity if the bill failed. Rep. Brad Sherman, D-Calif., said martial law would have to be enacted to keep public order if it didn’t pass. Rep. Jo Bonner, R-Ala. said the aftermath would be comparable to the scenes in New Orleans after Hurricane Katrina.

Sen. James Inhofe, R-Okla., revealed on “The Pat Campbell Show” on 1170 KFAQ, a talk radio station in Tulsa, Okla., where some of these ideas in Congress may have originated. He divulged details of a conference call with Treasury Secretary Henry Paulson from mid-September, which may be behind why some members of Congress were warning of catastrophe.

“We had a conference call early on,” Inhofe said on Nov. 18. “It was on a Friday I think – a week and half before the vote on Oct. 1. So it would have been the middle … what was it – the 19th of September, we had a conference call. In this conference call – and I guess there’s no reason for me not to repeat what he said, but he said – he painted this picture you just described. He said, ‘This is serious. This is the most serious thing that we faced.’”

According to Inhofe, Paulson said this would be far worse than the Great Depression - a time when unemployment was at 24.9 percent and U.S. gross domestic product (GDP) suffered steep declines.

“He said, ‘This is going to be far worse than the Great Depression in the ’30s,’” Inhofe said. “And all these things – he was very descriptive of exactly what would happen if, if we didn’t buy out these toxic assets which he abandoned the day after he got the money.”

However, nearly a month and a half later, Paulson changed course on his bailout plan. Instead of buying up troubled assets as he originally proposed, the former head of the investment bank Goldman Sachs (NYSE:GS) announced on Nov. 12 the Treasury would instead on injecting capital directly into banks, upsetting some lawmakers in Congress. Paulson had to defend this decision before the House Financial Services Committee on Nov. 18.

Inhofe also appeared on CNN’s Nov. 18 “Lou Dobbs Tonight” and said even as senior member of the U.S. Senate he just found out only $60 billion of the initial $350 billion amount remains. He also said he feared the amount of power Paulson has to do with the $410 billion remaining.

“I have introduced a bill and it’s called Senate Bill 3683,” Inhofe said. “And, it would freeze any further spending. And if you look at what’s just left now and the $350 billion that would come up, I’m very much disturbed because there is a process to enter into that, to access that $350 billion. That means if we’re not here in session, then it’ll be done unilaterally by the Treasury Department.”

“When in the history of America has one unelected person had the control of a massive amount of money like this – total control to do with whatever he wishes?” Inhofe asked.

The Day the Earth Went Broke

This is excerpted from a very well-written sales pitch for precious metals. Well worth reading down to the paragraph below which precedes the pitch to buy silver and gold.

So it makes me wonder. How bad is it out there? How many other Ponzi schemes are there besides Madoff’s? How many more financial psychopaths are ginning up fake account statements? How many little old ladies are there out there who think they have money in an account, but it’s all just some big scam? How many more bad banks? How many bad brokerage houses? How many more bad companies with bad stock? How many more bad government entities with bad finances and worse bonds? How many bad pension funds?

It drives home the point of wondering whom you can trust. And how bad is it with even the U.S. government? Do you really trust government statistics, like the one for the rate of inflation or unemployment? And how about the numbers in the national budget accounts? We’re spending how much? Does money even have any meaning to the people who have the power to appropriate it? Our whole national accounting process has turned into an intergenerational Ponzi scheme.

Really, our $10 trillion national debt is not enough? We are looking at trillion-dollar deficits in just the next year or two. How long can it last? And whom can you believe in any position of authority? So Bernard Madoff had a “system” for investing? And Ben Bernanke has a “system” for managing the monetary policy of the country, right? Hank Paulson has a “system” for managing the Treasury accounts? And Congress and the president — G.W. Bush, and after him B.H. Obama — have a “system” for spending the nation’s limited wealth on important things, yes?

Begs so many questions. For example, how does the devastation resulting from Madoff's fraud compare with the WTC devastation precipitating the GWOT? If as I suspect, Madoff is just the visible tip of a much larger iceberg, what level of alert is appropriate in response to what will ensue as other such schemes unfold over the next few weeks and months? (and no, I don't think buying silver and gold at this late hour is the answer)

Inner-world Struggle..,

Christmas 1926. Prieure. Gurdjieff, in reflecting on his productivity in regard to writing, realizes that "in reality at all times strictly corresponded in its duration with the length and quality of the, so to say, 'degree of contact,' between my consciousness and the suffering proceeding in me on behalf of my mother and wife."

He had written before with Olga de Hartmann. Dr. Stjoernval, and C.S. Nott sitting beside him, they acting as a sort of negative pole in the 'battery' set up. But with his wife and mother Gurdjieff suffered unconsciously. And so he elicits the use of unconscious suffering as well as conscious.

While "watching the children around the Christmas tree and their unrestrained joy," Gurdjieffsays he comes to the recognition "of the full possibility of attaining his aims through the forces of the inner-world struggle."

Pages 84 and 119, Struggle of the Magicians William Patrick Patterson

Gas Impasse....,

Washington Post | Russia and Ukraine appear to be heading for a new collision over natural gas that could disrupt supplies to Europe this winter, with Russia threatening to stop selling the fuel to Ukraine on Jan. 1 if it does not repay more than $2 billion in debt.

Russia called on European nations Tuesday to pressure Ukraine to guarantee the delivery of Russian natural gas to the continent. The appeal, made by Energy Minister Sergei Shmatko, came as negotiators prepared to meet in Moscow in an attempt to resolve the politically tinged standoff.

Russia briefly reduced its supply of gas to Ukraine in March and shut it down for a few days in January 2006. But the latest disagreement could be more severe because the global financial crisis has battered both countries and left them hungry for funds.

Any disruption could affect Europe because Russia supplies as much as a quarter of the gas the continent uses, most of it delivered through pipelines in Ukraine. Analysts say Ukraine could divert gas intended for Europe to satisfy its own needs if Moscow carries out its threat to shut off the supply to Ukraine.

"Europe must be concerned by the decisions made by Ukraine," not by Russia, Shmatko said at a news conference. "Russia will ship and export gas in quantities stipulated in our agreements."

He added that Europe should "exert required pressure" to ensure "guaranteed gas transit."

Russia's state-controlled gas monopoly, Gazprom, set the Jan. 1 deadline for payment of Ukraine's gas debts at a news conference last week, saying Ukrainian officials had informed the company they could not raise any more funds for gas for the rest of the year.

But Ukrainian President Viktor Yushchenko said the country had already paid Russia for gas consumed in the summer and autumn, and the national gas company, Naftogaz, said additional payments were planned.

Putin says 'cheap gas era' ending

BBC News | The era of cheap gas is coming to an end, Russia's Prime Minister Vladimir Putin has told ministers from the world's major gas-exporting countries.

Mr Putin said the cost of extracting gas was rising sharply, therefore "the era of cheap energy resources, of cheap gas, is of course coming to an end".

The Gas Exporting Countries Forum (GECF) meeting in Moscow has agreed a charter and plans for a permanent base.

Some observers say the GECF may develop into an Opec-style producers' cartel.

This speculation increased with the news that the charter had been adopted and that GECF leaders had agreed to establish permanent offices in Doha, Qatar.

Mr Putin had earlier said Russia was ready to set up the headquarters in St Petersburg and give it full diplomatic status.

"A new organisation has been born today, said Russian Energy Minister Sergei Shmatko.

As the head of the government of the world's biggest gas exporter, Mr Putin's word carries weight both with producers and consumers, the BBC's James Rodgers in Moscow. Concerns over energy security mean a formal organisation of gas exporting countries would be deeply unpopular in Europe and the US.

It is feared that such an organisation could hold a monopoly on world supply and set prices to suit its own needs.

The countries attending are Algeria, Bolivia, Brunei, Egypt, Indonesia, Iran, Libya, Malaysia, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela. Equatorial Guinea and Norway are attending as observers.

It is not ruled out that the current position of the Ukrainian side... could lead to disruptions in the stability of gas supplies

As well as the possibility of formalising the organisation, issues including possible future cuts in gas production and the effect of lower oil prices are also likely to be on the agenda, our correspondent says.

Industry analysts say technical differences between the oil and gas markets - including longer-term contracts for gas exports - make it unlikely for now that gas exporters will set Opec-style quotas.

Officials at the meeting stressed they were not trying to set up a price-fixing cartel.

Venezuelan Energy Minister Rafael Ramirez said participant countries wanted to build a solid organisation, "which has in its foundation the same principles that gave birth to Opec".

But he added: "It's not a cartel. We are defending the interests of our countries, that's all."

Generational Causus Belli....,

My man Spence has been holding it down this week on the subject of youth rioting in Europe and some of what's motivating the current wave of unrest. David Green explored some of this same territory with an American focus at Counterpunch.

I cannot think of a single time in American history where one generation left their children such a stunningly large and complete a mess to clean up.

The fiscal part of it is astonishing, though only the most visible element. A wrecked economy that may sink below the depths of the Great Depression is just the latest contribution. But even before that, economists have been predicting that today’s young people will be the first generation in American history to be less well off than their parents. That doesn’t even account for the nation’s crumbling infrastructure, which has been almost completely neglected for thirty years, so that we could party now and pay later. It also doesn’t include bills encumbered as Baby Boomers begin to retire and demand their promised Social Security and Medicare. These would be almost impossible to meet by virtue of demographic and rising healthcare factors alone. But we might have had a chance at doing so had we set aside the revenues coming in all these last decades while Boomers were working, for use at the time when the payers would became the payees, en masse. But, of course, that would have meant raising taxes or spending less – and we can’t have that! – since we’ve been using that money instead to pay for general budget expenses.

Or, should I say, to not pay for general budget expenses? Could you imagine parents so reckless that they would party themselves into a drunken stupor by stealing the funds from their children? I’m not talking about burning through the inheritance, which, after all, is the parents’ money to do what they want with. No, I’m talking about spending the money the kids have saved themselves for their own college education, or for a down-payment on a house. Outrageous, eh? Well, guess what? That’s exactly what the Baby Boomers did. Because they wanted all the government services they got, plus the tax cuts that put a little extra jingle in their pockets, plus the luxury of being so stupid and ill-informed that they didn’t have to grapple with the questions of where that tax ‘cut’ money was really going, or how utterly bogus were the administration’s claims about its policies, especially concerning the hugely expensive Iraq war. Put it all together and it equates to living well beyond your means. And when you do that, there are only so many ways to deal with the difference in what you’re spending versus what you’re bringing in. Cue the kids here.

The math is astonishing. The current amount of the national debt is a staggering 10.667 trillion dollars, and climbing fast (indeed, it has already risen substantially since I typed that number). Let’s leave aside for the moment that it is rising every year with each annual deficit – which some people now think could be a dramatically record-breaking trillion dollars next year – added to the pile. And let’s also leave aside the fact that each of those dollars are borrowed, and are thus accruing additional liability every day in the form of interest. If we just take the current debt, and divide it by the number of payroll workers in America (about 150 million), that means each worker’s share of the existing debt is $71,113. Now, just for the sake of argument, let’s say a worker has a job pulling down fifteen bucks per hour in pay. At that rate, they would have to work 4,741 hours to do nothing but pay off the amount that has been borrowed in their names, without their assent, and just to cover only what has been loaned so far to date – not counting new additions to the pile each day, and not counting accruing interest. At forty hours a week, that’s 2.37 years of someone’s life. In fact, that’s 2.37 years of 150 million people’s lives. Can you imagine that? Can you imagine going to someone and saying “I’m going to force you to work over two years of your life in some job you probably don’t like, so that I don’t have to”? Because that’s exactly what this represents: Baby Boomers refusing to live within their means and desperately turning to their own children to facilitate the parents’ irresponsibility. Parents stealing more than two years of their children’s lives, to add two years of play time to their own. Unreal.

Interestingly, there is as yet no current mobilization along generational lines in the U.S. such as we're witnessing in Europe. I suspect we can easily understand why this is the case. I suspect that as we descend further into the devastating economic crisis of the Greatest Depression that Barack Obama cannot halt, there will be tens of millions of Americans who will be ruthlessly thrust aside. As their houses are foreclosed, as their jobs are lost, as they are forced to declare bankruptcy and watch their communities collapse, they will retreat even further into irrational fantasy. It will be very interesting to see what glittering and self-destructive illusions the dopamine hegemony - our corporate advertisers, our charlatan preachers, our television news celebrities, our self-help gurus, our entertainment industry and our political demagogues—have in store for American youth who have yet to face their own rude awakening. We ain't seen nothing yet.....,

Liar Apes...,

NYTimes | When considering the behavior of putative scam operators like Bernard “Ponzi scheme” Madoff or Rod “Potty Mouth” Blagojevich, feel free to express a sense of outrage, indignation, disgust, despair, amusement, schadenfreude. But surprise? Don’t make me laugh.

Sure, Mr. Madoff may have bilked his clients of $50 billion, and Governor Blagojevich, of Illinois, stands accused of seeking personal gain through the illicit sale of public property — a United States Senate seat. Yet while the scale of their maneuvers may have been exceptional, their apparent willingness to lie, cheat, bluff and deceive most emphatically was not.

Deceitful behavior has a long and storied history in the evolution of social life, and the more sophisticated the animal, it seems, the more commonplace the con games, the more cunning their contours.

In a comparative survey of primate behavior, Richard Byrne and Nadia Corp of the University of St. Andrews in Scotland found a direct relationship between sneakiness and brain size. The larger the average volume of a primate species’ neocortex — the newest, “highest” region of the brain — the greater the chance that the monkey or ape would pull a stunt like this one described in The New Scientist: a young baboon being chased by an enraged mother intent on punishment suddenly stopped in midpursuit, stood up and began scanning the horizon intently, an act that conveniently distracted the entire baboon troop into preparing for nonexistent intruders.

US warns Russia against selling missiles to Iran

Brattleboro Reformer | U.S. officials said Monday that they want answers from Russia on whether it is selling advanced surface-to-air missiles to Iran, a move the U.S. insists could threaten American troops in Iraq and Afghanistan. A senior military intelligence official said that while Moscow has sent out conflicting responses to reports on the sale of long-range S-300 missiles, the U.S. believes it is taking place. However, it appears that no equipment has yet been delivered to Iran, said the official, who spoke on condition of anonymity because of the sensitivity of the matter.

Russia's state arms export agency said Monday it is supplying Iran with defensive weapons, including surface-to-air missiles, but did not say whether they include sophisticated long-range S-300 missiles.

State Department spokesman Robert Wood said the U.S. is seeking clarification from Russia.

"We have repeatedly made clear at senior levels of the Russian government that we would strongly oppose the sale of the S-300," Wood said. "As the U.S. government has said before, this is not the time for business as usual with the Iranian government."

Iran currently has an antiquated missile defense system, dating back to the 1960s and 1970s, so the Russian sale would provide Tehran a much longer range, more mobile and lethal capability. With a range of roughly 75 miles, the Russian system would allow Iran to reach coalition forces operating in Iraq and Afghanistan, if the missiles were moved near the borders.

Both the U.S. and Israel have strongly opposed the sale, saying that supplying such an advanced anti-aircraft system to Iran would shift the military balance of power in the Middle East. It also would make any strike at Iran's first nuclear power plant — which Russia is helping to build — more difficult.

There have been indications that Russia intends to supply only defensive weapons to Iran, thus keeping in line with U.N. Security Council resolutions that impose sanctions on Iran for refusing to halt its uranium enrichment and prohibit supplying Iran with materials that could contribute to its nuclear program.

Officials acknowledge that the sale of the S-300 system is not prohibited by the resolution.

Time for a Global Science Corps

The Scientist | In 1882, Iranian scholar and political activist Sayyid al-Afghani made a prescient argument that there is no "European science" or "Muslim science." Those who say there is, he went on, "have not understood that science is that noble thing that has no connection with any nation and is not distinguished by anything but itself." 1 Today, in a world increasingly fractured by national and cultural differences, we scientists should be seeking ways to promote science as a universal activity with the potential to advance public welfare.

One way to do this - and to help reduce economic and social disparities between nations - is to provide opportunities for well-trained scientists to work at those few places in developing countries where excellent scientific work is already possible. That's the goal of the Global Science Corps (GSC), a new program to build scientific capacity in the developing world. The GSC aspires to place scientists and engineers, referred to as GSC fellows, at research facilities in developing countries for one-year terms to collaborate with local partners.

Such efforts need not be drudgery or self-sacrifice; they can be productive intellectual adventures. Imagine spending a postdoctoral year in Botswana collaborating with local chemists and ecologists to study the largest inland delta in the world. Consider a sabbatical year in Chile as a member of an international network of scientists conducting applied research on complex engineering systems. Think about collaborating as a senior scientist with Ugandan colleagues in biochemistry and bioinformatics as they study antimalarial drug resistance and malaria vaccines.

Astronomy in Brazil, epidemiology in Vietnam, and molecular biology in Cameroon are among the opportunities that will be available. The hope is that with the right funding, five to 10 fellows could be selected next year, with growth after that. Placements will be custom-designed to suit the strengths and needs of fellow and host. Typically, fellowships will emphasize research and include some lecturing and teaching. The program will encourage and support long-term collaboration through electronic communication, possible exchange visits, and the establishment of a GSC alumni network.

Since I introduced the idea in 2001 at the Nobel Jubilee Symposium in Stockholm, www.mskcc.org/mskcc/html/6285.cfm the GSC concept has gradually gained attention and support from organizations and individuals around the world. It moved toward implementation when it found an administrative home with the Science Initiative Group (SIG), a small, international team of leading scientists. SIG also works in informal partnership with the World Bank to manage the Millennium Science Initiative (MSI), which supports competitively selected centers of scientific excellence in developing countries. MSI centers will be among GSC host institutions, and SIG, with its extensive international network of contacts, will help make appropriate placements for GSC fellows.

The Knack

All roads lead out of Afghanistan

Asia Times | It seems almost inevitable that Moscow and Tehran will join hands. In all likelihood, they may have already begun doing so. The Central Asian countries and China and India will also be closely watching the dynamics of this grim power struggle. They are interested parties insofar as they may have to suffer the collateral damage of the great game in Afghanistan. The US's "war on terror" in Afghanistan has already destabilized Pakistan. The debris threatens to fall on India, too.

Most certainly, the terrorist attack on Mumbai last month cannot be seen in isolation from the militancy radiating from the Afghan war. Even as the high-level Russian-Indian Working Group on terrorism met in Delhi on Tuesday and Wednesday, another top diplomat dealing with the Afghan problem arrived in the Indian capital for consultations - Iranian Deputy Foreign Minister Mohammad Mahdi Akhounjadeh.

Speaking in Moscow on Tuesday, chief of the General Staff of the Russian armed forces, General Nikolai Makarov, just about lifted the veil on the geopolitics of the Afghan war to let the world know that the Bush administration was having one last fling at the great game in Central Asia. Makarov couldn't have spoken without Kremlin clearance. Moscow seems to be flagging its frustration to Obama's camp. Makarov revealed Moscow had information to the effect that the US was pushing for new military bases in Kazakhstan and Uzbekistan.

Coincidence or not, a spate of reports has begun appearing that Russia is about to transfer the S-300 missile defense system to Iran. S-300 is one of the most advanced surface-to-air missile systems capable of intercepting 100 ballistic missiles or aircraft at once, at low and high altitudes within a range of over 150 kilometers. As long-time Pentagon advisor Dan Goure put it, "If Tehran obtained the S-300, it would be a game-changer in military thinking for tackling Iran. This is a system that scares every Western air force."

It is hard to tell exactly what is going on, but Russia and Iran seem to be bracing for a countermove in the event of the Obama administration pressing ahead with the present US policy to isolate them or cut them out from their "near abroad".

greek youth violence could be contagious...,

IHT | Firebombs and breaking glass, tear gas and burning cars. The images from Greece this month were enough to put the fear of youth into the hearts of European leaders.

That dread was palpable in France when President Nicolas Sarkozy abruptly delayed for one year a plan to overhaul France's high schools, after students from Bordeaux to Brittany took to the streets in protest.

Those demonstrations haven't turned violent yet. But French history, and the example of Greece, suggests they might. At least that is what people like Laurent Fabius, a Socialist Party leader, are saying on French radio.

"What we see in Greece is not out of the realm of possibility in France," Fabius said on Europe 1. "When you have such an economic depression, such social despair, all it takes is a match."

An editorial in the daily newspaper Libération said the decision to delay the education law - which would change schedules and academic requirements for the last three years of lycée, or high school - was purely defensive. "One senses among the team in power a hesitation, a dread of riots, a fear of explosion," wrote Didier Pourquery.

The rapid rise in unemployment among people under age 25, particularly in southern Europe, is one concern. In Spain, for instance, youth unemployment shot up from 18.4 percent in August 2007 to 28.1 percent in October 2008. The average jobless rate for young people in Italy, Greece and France is well above the average for the European Union, according to Eurostat, the Luxembourg agency that collects EU statistics.

"All these events have at their core a sense among youth that their lives are not going anywhere, and they have nothing to lose," said Ken Dubin, a visiting associate professor at University Carlos III in Madrid. But economics alone doesn't explain the restlessness in universities and high schools. Students, after all, have no jobs to lose.

India will have to reduce energy consumption by 20%

Economic Times | Some sections view the current economic meltdown as a direct fall-out of consumption exceeding money supply. Power policy makers of the country seem to have stuck on the analogy to caution energy consumption in urban India.

“In fact, we need to expand energy consumption in this country, mainly to the two-thirds of our population who have scarce or no access to electricity, and non-biomass fuels,” said Planning Commission principal adviser (energy) Surya P Sethi. India’s per capita consumption of power is 20% the world average, 4% that of the US, and 28% that of China.

“To achieve a desirable human development index growth, the present power consumers will have to cut their usage by 20%, by which growth may come down by a percentage point or two”. Speaking at the panel discussion on sustainable electricity in India, at Pan IIT, an IIT alumni conference, at the Indian institute of technology Madras on Saturday, he said the situation was potentially explosive unless we invest talent, technology and innovation in equitable allocation of basic resources like energy, water and land.To achieve 20% energy conservation we need to increase the energy efficiency of our appliances by 20%, he said.

“Theft happens 90% in urban industrial lines, and not in rural areas, as many of us have misconceived,” Mr Sethi said. “As electricity is stolen only to be consumed, the basic problem is a supply-demand mismatch.” According to AES corporation director Sanjeev Agarwal, the three main issues hindering the advancement of power projects in India are land acquisition, environmental clearance and evacuation infrastructure.

Swindler's List

Counterpunch | In terms of financial and psychological impact, Bernard Madoff's $50 billion heist certainly ranks as a major ethnic cleansing here in America, a hugely traumatic event for American Jewry. Of course Madoff had clients of every creed and nation, but he made a specialty of trolling for Jewish money. I asked a Jewish woman I know here in California if any in her circle had taken a hit. She looked at me tremulously, shaking her head, on the edge of tears. Though no one was in immediate earshot, she whispered, “They kept telling me to put my money with Madoff. At that time the entry level was $250,000. I dodged the bullet. Some of my friends didn’t. They’ve lost everything. This is Kristallnacht Two.” Her fear and horror would scarcely have been diminished if she’d heard what a perfectly nice young person had remarked to me earlier, apropos the Madoff affair: “Now the rich people will know what it’s like.”

"‘It’s an atomic bomb in the world of Jewish philanthropy,’ Mark Charendoff, president of the Jewish Funders Network, told Anthony Weiss and Gabrielle Birkner of The Forward newspaper. ‘There’s going to be fallout from this for years to come.’ The collapse of the investment firm of Bernard Madoff has opened a black hole at the center of the tight knit circles of wealthy Jews who socialize and do business together, and who, year after year, support Jewish causes… ”

Watching how this saga unfolds in the media will prove most edifying. Madoff has been handled VERY gingerly here-to-date. Think about what that means. He has absolutely devastated a lot of people and organizations. One would imagine that such an act would get him violently tarred, feathered, and strung up ASAP. The fact of the matter, however, is that given the magnitude of what his organization did, it's inevitably true that what we read now as the extent of the devastation - is really only the tip of the iceberg. Madoff will continue to receive kid glove treatment because if subjected to aggressive interrogation and rough handling, there's no telling how far reaching and extensive the rot he epitomizes could prove to be. Shake Madoff hard and watch the Swindler's List further metastasize through an even larger expanse of the financial system.

Motive IS 20/20

Washington Post | Madoff played to two of our most serious weaknesses as investors and human beings.

As investors, we love to believe in market wizards who hold the secret to making serious money. In fact, there's no such secret, but admitting it is like abandoning a childhood faith. Faith propels the money-management business, despite the evidence that managers rarely beat the market indexes, over time. We especially love a fatherly wizard who's close to his children, plays golf, supports caring charities and lays expensive carpets on his office floor.

As human beings, we love status symbols and, to those who knew him, Madoff was status on wheels. Investing with him proved your wealth, position and general superiority to the poor slobs bobbing around on the fringe. His investors believed they were earning steady monthly increases of 1 percent or 2 percent, even when markets went bad. Who would dream of vetting such a prize?

Pam Martens is quoted at Counterpunch as saying; Of course many of them thought Madoff’s famous model was dubious. After all, how could the laws of financial gravity be defied, year after year, producing an unending yield (for the fortunate) of 10 to 12 per cent annual returns on capital invested. But the thought came with a knowing wink, that Bernie was scoring these huge returns, by being in the know, running on the inside track, using insider knowledge. As my father pointed out to me many times, many people have a bit of larceny in their bloodstream, and it’s what con men trade on, as Gogol imperishably described in Dead Souls.

Unconventional "Strategic Shocks" in Defense Strategy

This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. As such, it is in the public domain, and under the provisions of Title 17, United States Code, Section 105, it may not be copyrighted.

Pages 31-33

Violent, Strategic Dislocation Inside the United States. As a community, the defense establishment swears to protect and defend the constitution against all enemies foreign and domestic. DoD's role in combating "domestic enemies" has never been thoughtfully examined. Thus, there is perhaps no greater source of strategic shock for DoD than operationalizing that component of the oath of service in a widespread domestic emergency that entails rapid dissolution of public order in all or significant parts of the United States.

While likely not an immediate prospect, this is clearly a "Black Swan" that merits some visibility inside DoD and the Department of Homeland Security. To the extent events like this involve organized violence against local, state, and national authorities and exceed the capacity of the former two to restore public order and protect vulnerable populations, DoD would be required to fill the gap. This is largely uncharted strategic territory.

Widespread civil violence inside the United States would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security. Deliberate employment of weapons of mass destruction or other catastrophic capabilities, unforeseen economic collapse, loss of functioning political and legal order, purposeful domestic resistance or insurgency, pervasive public health emergencies, and catastrophic natural and human disasters are all paths to disruptive domestic shock.

An American government and defense establishment lulled into complacency by a long-secure domestic order would be forced to rapidly divest some or most external security commitments in order to address rapidly expanding human insecurity at home. Already predisposed to defer to the primacy of civilian authorities in instances of domestic security and divest all but the most extreme demands in areas like civil support and consequence management, DoD might be forced by circumstances to put its broad resources at the disposal of civil authorities to contain and reverse violent threats to domestic tranquility. Under the most extreme circumstances, this might include use of military force against hostile groups inside the United States.

Further, DoD would be, by necessity, an essential enabling hub for the continuity of political authority in a multistate or nationwide civil conflict or disturbance.

A whole host of long-standing defense conventions would be severely tested. Under these conditions and at their most violent extreme, civilian authorities, on advice of the defense establishment, would need to rapidly determine the parameters defining the legitimate use of military force inside the United States. Further still, the whole concept of conflict termination and/or transition to the primacy of civilian security institutions would be uncharted ground. DoD is already challenged by stabilization abroad. Imagine the challenges associated with doing so on a massive scale at home.

TERRIFIC CHOICES: A CLEAR MESSAGE ON THE ENVIRONMENT

Any concern that the economic crisis would soften the resolve of the Obama administration to deal with the sad state of the environment was swept away today by the choice of Harvard physicist John Holdren to be presidential science advisor, and Oregon State marine biologist Jane Lubchenco to head the National Oceanographic and Atmospheric Administration. Both have battled industry opposition to climate initiatives.

Along with Steve Chu as Secretary of Energy they should form a powerful block of scientists in the Obama administration. It will almost certainly be the most influence science has had in the White House since the Eisenhower administration.

But we don't have much time. Let me tell you what no one else is saying publicly: every step we take to improve the environment will soon be wiped out by population growth. The fact is that we are already beyond a sustainable population. We can't keep talking in terms of reducing the rate of growth.

That's the second derivative. What's New Bobpark.org.

War College warns military must prep for unrest

Phoenix Business Journal | A new report by the U.S. Army War College talks about the possibility of Pentagon resources and troops being used should the economic crisis lead to civil unrest, such as protests against businesses and government or runs on beleaguered banks.

“Widespread civil violence inside the United States would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security,” said the War College report.

The study says economic collapse, terrorism and loss of legal order are among possible domestic shocks that might require military action within the U.S.

International Monetary Fund Managing Director Dominique Strauss-Kahn warned Wednesday of economy-related riots and unrest in various global markets if the financial crisis is not addressed and lower-income households are hurt by credit constraints and rising unemployment.

U.S. Sen. James Inhofe, R-Okla., and U.S. Rep. Brad Sherman, D-Calif., both said U.S. Treasury Secretary Henry Paulson brought up a worst-case scenario as he pushed for the Wall Street bailout in September. Paulson, former Goldman Sachs CEO, said that might even require a declaration of martial law, the two noted.

Nuke-U-Ler Slide Rule

The ABC-M1A1 RADIAC Calculator is used by the US Army to determine the dose rates and doses to personnel after a nuclear explosion. It is the military version of the "Radiation Dosage Calculator" developed by William Orr.

Former US admiral: Don't fear Iran

Jerusalem Post | Israel is one of the strongest countries in the Middle East and needs to stop giving in to a "fear factor" with regard to the prospect of a nuclear Iran, Adm. (ret.) William Fallon, the former commander of the United States Central Command (CENTCOM), told The Jerusalem Post on Thursday.

In Israel for a regional security conference at the Institute for National Security Studies (INSS) in Tel Aviv, Fallon told the Post that he could not understand why Iran would even contemplate using nuclear weapons against Israel unless the country wanted to be destroyed.

"Do they wish to go away?" he asked, insinuating that a nuclear attack on Israel would elicit a devastating response.

"They are not nearly as strong as their rhetoric indicates," Fallon said of Iran. "They are not particularly strong militarily outside their own internal entity, and they have huge economic issues and political instability. Their nuclear capability might give them something to feel consolation in."

Fallon abruptly stepped down from the command of CENTCOM in March after Esquire magazine portrayed him as being opposed to President George W. Bush's Iran policy, describing him as a lone voice against military action aimed at halting the Iranian nuclear program. Today, he is a fellow at the MIT Center for International Studies.

Is Psychology a Science?

Arachnoid | Since its first appearance in 2003, this article has become required reading in a number of college-level psychology courses. Because this article is directed toward educated nonspecialist readers considering psychological treatment, students of psychology are cautioned that the terms "psychology" and "clinical psychology" are used interchangeably.

The field of human psychology is a powerful force in modern society, and its influence is widespread – in language, law, the social contract, and in our perception of ourselves. Because legal decisions are sometimes made based on psychology, decisions that might cause someone to be incarcerated or freed, it is important to establish whether psychology is a science or a simple belief system. We should determine whether psychology can be relied on to objectively support the social and legal policies that are based on it. In modern times, such a serious public burden can only be borne by a field that is based on reason, on science. Which leads to our question: is human psychology steered by science?

Conclusion: At this point it must be clear to the intelligent reader that clinical psychology can make virtually any claim and offer any kind of therapy, because there is no practical likelihood of refutation – no clear criteria to invalidate a claim. This, in turn, is because human psychology is not a science, it is very largely a belief system similar to religion.

Like religion, human psychology has a dark secret at its core – it contains within it a model for correct behavior, although that model is never directly acknowledged. Buried within psychology is a nebulous concept that, if it were to be addressed at all, would be called “normal behavior.” But do try to avoid inquiring directly into this normal behavior among psychologists – nothing is so certain to get you diagnosed as having an obsessive disorder.

In the same way that everyone is a sinner in religion's metaphysical playground, everyone is mentally ill in psychology's long, dark hallway – no one is truly “normal.” This means everyone needs psychological treatment. This means psychologists and psychiatrists are guaranteed lifetime employment, although that must surely be a coincidence rather than a dark motive.

But this avoids a more basic problem with the concept of “normal behavior.” The problem with establishing such a standard, whether one does this directly as religion does, or indirectly as psychology does, is that the activity confronts, and attempts to contradict, something that really is a scientific theory – evolution. In evolution, through the mechanism of natural selection, organisms adapt to the conditions of their environment, and, because the environment keeps changing, there is no particular genotype that can remain viable in the long term.

The scientific evidence for evolution is very strong, and evolution's message is that only flexible and adaptable organisms survive in a world of constant change. Reduced to everyday, individual terms, it means no single behavioral pattern can for all time be branded “correct” or “normal.” This is the core reason religion fails to provide for real human needs (which wasn't its original purpose anyway), and this failing is shared by psychology – they both put forth a fixed behavioral model in a constantly changing world.

The present atmosphere among many psychologists and psychiatrists can only be described as panic. This panic is clearly shown in the rapid, seemingly purposeful destruction of the DSM, the field's “bible,” as a legitimate diagnostic tool (because if everything is a mental illness, then nothing is). This panic arises in part from a slow realization that many conditions formerly thought to be mental conditions amenable to psychological treatment, turn out to be organic conditions treatable with drugs (or, like homosexuality, turn out to be conditions not appropriate to any kind of treatment). Further, many traditional clinical practices have been shown to be ineffectual and/or indistinguishable from ordinary experience or nothing at all.

In the final analysis, the present state of psychology is the best answer to the original inquiry about whether it is scientific, because if human psychology were as grounded in science as many people believe, many of its historical and contemporary assertions would have been falsified by its own theoretical and clinical failures, and it would be either replaced by something more scientifically rigorous, or simply cast aside for now.

But this is all hypothetical, because psychology and psychiatry have never been based in science, and therefore are free of the constraints placed on scientific theories. This means these fields will prevail far beyond their last shred of credibility, just as religions do, and they will be propelled by the same energy source — belief. That pure, old-fashioned fervent variety of belief, unsullied by reason or evidence.

Economics needs a scientific revolution

Compared to physics, it seems fair to say that the quantitative success of the economic sciences is disappointing. Rockets fly to the moon, energy is extracted from minute changes of atomic mass without major havoc, global positioning satellites help millions of people to find their way home. What is the flagship achievement of economics, apart from its recurrent inability to predict and avert crises, including the current worldwide credit crunch?

Why is this so? Of course, modelling the madness of people is more difficult than the motion of planets, as Newton once said. But the goal here is to describe the behaviour of large populations, for which statistical regularities should emerge, just as the law of ideal gases emerge from the incredibly chaotic motion of individual molecules. To me, the crucial difference between physical sciences and economics or financial mathematics is rather the relative role of concepts, equations and empirical data. Classical economics is built on very strong assumptions that quickly become axioms: the rationality of economic agents, the invisible hand and market efficiency, etc. An economist once told me, to my bewilderment: These concepts are so strong that they supersede any empirical observation. As Robert Nelson argued in his book, Economics as Religion, the marketplace has been deified.

Physicists, on the other hand, have learned to be suspicious of axioms and models. If empirical observation is incompatible with the model, the model must be trashed or amended, even if it is conceptually beautiful or mathematically convenient. So many accepted ideas have been proven wrong In the history of physics that physicists have grown to be critical and queasy about their own models. Unfortunately, such healthy scientific revolutions have not yet taken hold in economics, where ideas have solidified into dogmas that obsess academics as well as decision-makers high up in government agencies and financial institutions. These dogmas are perpetuated through the education system: teaching reality, with all its subtleties and exceptions, is much harder than teaching a beautiful, consistent formula. Students do not question theorems they can use without thinking. Though scores of physicists have been recruited by financial institutions over the last few decades, these physicists seem to have forgotten the methodology of natural sciences as they absorbed and regurgitated the existing economic lore, with no time or liberty to question its foundations.

The supposed omniscience and perfect efficacy of a free market stems from economic work in the 50s and 60s, which with hindsight looks more like propaganda against communism than a plausible scientific description.

Full Monty at the Post Autistic Economics Review

The state of China’s economy 2009

Introduction: Over the past few decades there have been numerous forecasts predicting an "imminent collapse" of the Chinese economy. Some of these have a strong Anglo-Saxon ideological bias with little substantive theoretical or empirical support, while others offer standard economic principles in defense of a negative forecast. More recently, however, these pessimistic forecasts have been fewer in number and less dire. Meanwhile, some other analysts have offered quite favorable economic performance forecasts. Who appears to have been correct?

This paper will examine some past forecasts, and then evaluate the current performance of the Chinese economy. The first section will provide a brief summary of some previous forecasts. Analysis of the recent performance of China's economy will be presented in the following section, including trends over the past 5 of both standard macroeconomic and some socioeconomic indicators, using both Chinese and non-Chinese data sources. The third section will evaluate the overall state of the economy at present, weighting performance indicators both according to their relative importance to Chinese policy makers as well as to non-Chinese analysts. The following section will suggest the likelihood that the economy's performance during 2003-2008 is likely to continue for another five years. The final section will offer a summary and conclusions as to the likelihood that China's economy will inevitably collapse within the next 5 to 10 years.

Conclusion: Taking into consideration data provided by both Chinese and respected international sources of macroeconomic indicators the Chinese economy, as well as the likely impact recent events within China, no imminent collapse of the Chinese economy appears likely over the next five years. Rather, the economy is likely to continue to perform favorably when GDP growth, urban unemployment, external and domestic fiscal balances, stability of the banking system, FDI, and exchange rate stability are given relative importance. As the world financial crisis unfolds China may wind up owning substantial shares of some major financial institutions. Thus, as 2009 approaches, China's economy is stronger and more fiscally sustainable than every G-8 members' economy. However, Chinese policymakers will need to address more aggressively growing environmental and income inequality while preventing higher rates of inflation - particularly for food and health care, if China's economy is to continue on its favorable path.

Full Monty at Post Autistic Economics Review.

Rethinking Easter Island's Catastrophe

University of Hawaii | Despite repeated claims, Rapa Nui does not appear to represent a case of ‘‘ecocide.’’ The documented population collapse for Rapa Nui occurred as a consequence of European contacts, with Old World diseases and slave-trading (Peiser, 2005; Rainbird, 2002). As VanTilburg (1994, p. 164, emphasis added) noted, the scary parables and metaphors for disaster represent ‘‘a projection of Western values which emphasizes the self-destruction of the Rapa Nui culture over the actual, near-annihilation of it by contact with the West.’’ Indeed, early ethnographer Alfred Metraux described the historic genocide as ‘‘one of the most hideous atrocities committed by white men in the South Seas’’ and as ‘‘the catastrophe that wiped out Easter Island’s civilization’’ (Metraux, 1957, p. 38). Today the idea of ‘‘ecocide’’ enjoys popular acceptance, but an actual genocide decimated the native Rapa Nui population and its culture (Peiser, 2005; Rainbird, 2002). Unfortunately, the victims of cultural and physical extermination have been turned into the perpetrators of their own demise.

The model of ‘‘ecocide’’ was constructed in part on the foundations of faith in a long chronology, speculation about prehistoric population size, and a remarkable, but still somewhat coarse-grained palaeo-environmental record for the island. Recent field research, including comparative case studies in places such as the Hawaiian Islands, have changed some perspectives and allowed us to raise questions about Rapa Nui’s historical ecology. In this review I have examined archaeological, palaeo-environmental, and contemporary ecological evidence to suggest that the Pacific rat may have played a major role in Rapa Nui’s ecological catastrophe. The fact that rats alone are capable of widespread forest destruction compels us to evaluate their contribution to the transformation of Rapa Nui, as well as in other island ecosystems. While I argue that the role of rats has often been underestimated, direct human actions of felling and use of fire likely have played a significant role as well. Additional research will be essential to disentangle the contributing factors. The environmental catastrophe of Rapa Nui is likely a complex history, one that has been masked by speculations about the intentions of people cutting down the last tree. Indeed, the ‘‘last tree’’ may simply have died. Rats may have simply eaten the last seeds. Perhaps the lessons of Rapa Nui tell of the effects of invasive species, invasional meltdowns, and the synergy of effects that ensue as people and their portmanteau biota reach evolutionary isolates in the remote islands of the Pacific.

time of slime...,

The Register | The US government has warned that enormous swarms of killer jellyfish - some the size of fridges and weighing up to a quarter of a ton - are ravaging the world's oceans. Particularly aggressive specimens are said to be capable of causing serious damage to ships, and have even managed to knacker nuclear power plants.

News of the challenge to humanity's dominance over planet Earth comes from the US National Science Foundation, which has put out a chilling warning entitled - rather beautifully - Jellyfish Gone Wild!

"When jellyfish populations run wild," the NSF jellyboffins warn, "they may jam thousands of square miles with their pulsing, gelatinous bodies."

It seems that no less than half a billion "refrigerator sized" slimy horrors weighing 450 pounds each invade the Sea of Japan daily, while Australian waters are plagued with "deadly, peanut-sized" Jellybabies of Death. It took the scyphozoan (or possibly hydrozoan) hordes just eight years to seize control of the Black Sea, apparently.

The NSF boffins warn that the gelatinous global usurpers are spawned in hundreds of vast "Dead Zones" in the world's oceans, where nothing but jelly-based lifeforms can live. These frightful blancmange sargassos send out their wobbling hordes on fearful expeditions of destruction, probing the strength of humanity's defences in preparation for the long-planned Time of Slime.

When will the oil run out?

Guardian | George Monbiot puts the question to Fatih Birol, chief economist of the International Energy Agency - and is both astonished and alarmed by the answer.

Can you think of a major threat for which the British government does not prepare? It employs an army of civil servants, spooks and consultants to assess the chances of terrorist attacks, financial collapse, floods, epidemics, even asteroid strikes, and to work out what it should do if they happen. But there is one hazard about which it appears intensely relaxed: it has never conducted its own assessment of the state of global oil supplies and the possibility that one day they might peak and then go into decline.

If you ask, the government always produces the same response: "Global oil resources are adequate for the foreseeable future." It knows this, it says, because of the assessments made by the International Energy Agency (IEA) in its World Energy Outlook reports. In the 2007 report, the IEA does appear to support the government's view. "World oil resources," it states, "are judged to be sufficient to meet the projected growth in demand to 2030," though it says nothing about what happens at that point, or whether they will continue to be sufficient after 2030. But this, as far as Whitehall is concerned, is the end of the matter. Like most of the rich world's governments, the UK treats the IEA's projections as gospel. Earlier this year, I submitted a freedom of information request to the UK's department for business, asking what contingency plans the government has made for global supplies of oil peaking by 2020. The answer was as follows: "The government does not feel the need to hold contingency plans specifically for the eventuality of crude-oil supplies peaking between now and 2020."

So the IEA had better be right. In the report on peak oil commissioned by the US department of energy, the oil analyst Robert L Hirsch concluded that "without timely mitigation, the economic, social and political costs" of world oil supplies peaking "will be unprecedented". He went on to explain what "timely mitigation" meant. Even a worldwide emergency response "10 years before world oil peaking", he wrote, would leave "a liquid-fuels shortfall roughly a decade after the time that oil would have peaked". To avoid global economic collapse, we need to begin "a mitigation crash programme 20 years before peaking". If Hirsch is right, and if oil supplies peak before 2028, we're in deep doodah. Direct link to video here.

Capitalist Fools

Vanity Fair | Behind the debate over remaking U.S. financial policy will be a debate over who’s to blame. It’s crucial to get the history right, writes a Nobel-laureate economist, identifying five key mistakes—under Reagan, Clinton, and Bush II—and one national delusion.

There will come a moment when the most urgent threats posed by the credit crisis have eased and the larger task before us will be to chart a direction for the economic steps ahead. This will be a dangerous moment. Behind the debates over future policy is a debate over history—a debate over the causes of our current situation. The battle for the past will determine the battle for the present. So it’s crucial to get the history straight.

What were the critical decisions that led to the crisis? Mistakes were made at every fork in the road—we had what engineers call a “system failure,” when not a single decision but a cascade of decisions produce a tragic result. Let’s look at five key moments.[...]

The truth is most of the individual mistakes boil down to just one: a belief that markets are self-adjusting and that the role of government should be minimal. Looking back at that belief during hearings this fall on Capitol Hill, Alan Greenspan said out loud, “I have found a flaw.” Congressman Henry Waxman pushed him, responding, “In other words, you found that your view of the world, your ideology, was not right; it was not working.” “Absolutely, precisely,” Greenspan said. The embrace by America—and much of the rest of the world—of this flawed economic philosophy made it inevitable that we would eventually arrive at the place we are today.

'Peak Oil Theory' Demands Energy Alternatives

NPR | Plummeting gasoline and diesel prices have given consumers relief at the pump. But oil pessimists believe the current slump in demand will pass. And when it does, the world will be in the same fix it was before the global recession. The era of easy oil is behind us. According to those who believe in what's called "peak oil theory," world oil production has already peaked, or flattened, and in the foreseeable future, the declining resource will inevitably change the way we live. [...]

Matt Simmons.

"I am saying the sky is falling. If we ignore peak oil; worse, if we laugh about it, continue consuming, we will have a massive shortage," Simmons said from his office in Houston. The garrulous, 65-year-old oil-field investment banker said the world's giant oil fields are all in decline — from the North Sea to Mexico's Cantarell field.

"Energy reality, if you take off rose-colored glasses and just study data, is that crude oil in most non-OPEC countries is now in decline, and in too many countries in steep decline. Virtually all of the OPEC producers, with the exception of Angola, are really struggling to keep their production flat," he said in a recent speech to the Houston chapter of the Young Professionals in Energy.

Russia may not join Poznan communique

Reuters | Russia may not join a new global deal to fight climate change if it is against Moscow's interests and will set a national mid-term target for reducing greenhouse gas emissions next year, an official said on Friday.

"If the conditions for the international agreement are not favorable for us we may not join such an agreement," Alexander Pankin, deputy head of the Russian delegation at U.N.-led December 1-12 climate negotiations in Poland, told Reuters.

If a new U.N. climate pact meant to be agreed in Copenhagen at end-2009 was unfair and failed to set comparable commitments for countries according to their economic and social standing, Russia would not sign, he said.

"If you are better off than me, why should I make a stronger commitment than you," he said.

inconvenient truth about electric cars

Financial Times | President Nicolas Sarkozy would dearly like to end France’s rotating presidency of the European Union on a high note by brokering this week a deal on a grand European response to global warming and energy efficiency. The ultimate plan is to cut carbon dioxide emissions by 20 per cent with member states at the same time drawing their future energy needs from clean renewable sources by the same percentage amount. Under the circumstances, it is no surprise that the automobile industry has found itself at the heart of the climate change debate.

Indeed, Mr Sarkozy’s own government commissioned months ago one of France’s leading energy experts – Jean Syrota, the former French energy industry regulator – to draw up a report to analyse all the options for building cleaner and more efficient mass-market cars by 2030. The 129-page report was completed in September to coincide with the Paris motor show. But the government has continued to sit on it and seems reluctant to ever publish it.

Yet all those who have managed to glimpse at the document agree that it makes interesting reading. It concludes that there is not much future in the much vaunted developed of all electric-powered cars. Instead, it suggests that the traditional combustion engine powered by petrol, diesel, ethanol or new biofuels still offers the most realistic prospect of developing cleaner vehicles. Carbon emissions and fuel consumption could be cut by 30-40 per cent simply by improving the performance and efficiency of traditional engines and limiting the top speed to about 170km/hr. Even that is well above the average top speed restriction in Europe, with the notable exception of Germany. New so-called “stop and start” mechanisms can produce further 10 per cent reductions that can rise to 25-30 per cent in cities. Enhancements in car electronics as well as the development of more energy efficient tyres, such as Michelin’s new “energy saver” technology, are also expected to help reduce consumption and pollution.

Overall, the Syrota report says that adapting and improving conventional engines could enhance their efficiency by an average of 50 per cent. It also argues that new-generation hybrid cars combining conventional engines with electric propulsion could provide an interesting future alternative.

ebola virus in pigs

Financial Times | Philippine officials tucked into servings of lechon, the popular dish of roasted whole pig, in front of television cameras on Thursday to reassure the public of the safety of the national staple meat after the discovery among hogs near Manila of a strain of the Ebola virus.

Arthur Yap, agriculture secretary, and Francisco Duque, health secretary, said the Ebola Reston virus, which had never been found in pigs before, presented a low health risk for humans and was different from the deadly African variety.

The World Health Organisation was reported to be looking into whether there was any chance humans could have become infected.

The outbreak could deal a blow to Philippine plans to build a pork export industry. The government halted an inaugural shipment of frozen pork to Singapore and quarantined three swine farms.

Pork vendors in public markets in Manila sought to assure buyers that their products had passed government inspection and met safety standards.

“December is the month when we sell the most pork at relatively higher price,” said Evelyn Reyes, who operates a small pork stall in Quezon City. “I really hope the government does a good work of calming people’s fears about the Ebola virus.”

Pork accounts for more than half of the average 61g of meat consumed daily by each Filipino.

The virus was first discovered in 1989 in macaque monkeys imported from the Philippines by a laboratory in Reston, Virginia. Scientists are trying to determine how the virus spread to pigs.

Coal is My Worst Nightmare

WSJ | So Steven Chu, President-elect Obama’s likely choice to head the Department of Energy, is a proponent of energy efficiency and conservation as the first step in rejigging America’s energy mix. But since conservation alone won’t do it, what are his ideas about finding new supplies of energy?

Dr. Chu’s marquee work at the Lawrence Berkeley National Laboratory is the Helios Project. That’s an effort to tackle what Dr. Chu sees as the biggest energy challenge facing the U.S.: transportation. That’s because it’s a huge drain on U.S. coffers and an environmental albatross, Dr. Chu says.

Helios has focused largely on biofuels—but not the bog-standard kind made from corn and sugar. The Energy Biosciences Institute, a joint effort funded by BP, is looking to make second-generation biofuels more viable. Among the approaches? Researching new ways to break down stubborn cellulosic feedstocks to improve the economics of next-generation biofuels, and finding new kinds of yeast to boost fermentation and make biofuels more plentiful while reducing their environmental impact.

What about other energy sources? Big Coal won’t be very happy if Dr. Chu gets confirmed as head of the DOE—he’s really, really not a big fan. “Coal is my worst nightmare,” he said repeatedly in a speech earlier this year outlining his lab’s alternative-energy approaches.