Quote of the day

I suppose this blogging is often merely a therapeutic measure, as though one were laying one’s self on Freud’s couch while the great man was out of the room, in his stead standing a curious, humming device much like an evil oboe, which took in one’s spoken words and distributed them across an incredible, instantaneous, world-wide network of tin ear-horns. *

Read the linked posts from the bottom up and enjoy.

More fun with signs.

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Make your own gas station sign here – via Bruce Sterling, who also gives us a link to an article in the Australian:

There is instead a new reality: the greatest transfer of income in human history, away from energy importers such as the US to energy exporters; the rise of a new breed of wealthy autocracies that cripple US hopes of dominating the global system; and demands on the US to make fresh compromises in a world where power is rapidly being diversified.

Despite cyclical fluctuations, world oil and energy prices will stay high, driven by long-run changes in supply and demand. This provokes a global wealth redistribution without precedent to oil exporters, mainly in the Middle East and Russia, that marches in tandem with China’s export-driven current account surplus.

Glad

It’s a beautiful spring day. Lex10 has won a small victory over Blogger and the Glyphblog is back with another great bit of moving image + music. I’m glad, I’m glad, I’m glad.

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Lex10’s Youtube channel is here, his workup of the Greatest Nancy Panel Ever Drawn is here. I reiterate: I’m so glad.

Purple hair and other attributes

Continuing with our Drake theme- this time, emphasizing UFO hair – color, if not length: Charlie Stross (who’s heard of J. G. Ballard) writes a post explaining how much control an author has over the way their book is published (especially, in this case, influence over cover art).

Unless we’re talking about the small press or self-publishing, the answer is “zip”. The author is responsible for writing and delivering the contents of the book and, optionally, additional material such as a dedication and acknowledgements. But the way their manuscript — a typescript, typically prepared in accordance with the ancient and established Rules — is turned into a book is entirely up to the publisher.

Why would he feel that it was important to say this? Behold the US cover for his latest – due for a July release:

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As an aside – what better place for the immobile enhanced breast meme than in a CGI portrait…

A good day for it…

I’m trying to wrap my head around the whole Bear Stearns thing. While I’m doing that – and trying not to see it as a precursor to a financial apocalypse – happy St. Patrick’s Day!

JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. for about $240 million, less than a 10th of its value last week, after a run on the company ended 85 years of independence for Wall Street’s fifth-largest securities firm. *

Value of the office building BS owns?

The 1.2 million-square-foot, 45-story structure built in 2001 is worth about $1.2 billion, based on the average $1,000 per- square-foot that comparable office space in the city is currently fetching.

Um. Wow. So the rest of Bear Stearns assets are worth in the neighborhood of -$960,000,000?

Update – Nouriel Roubini:

The response of the Fed to this run has been radical and in the form of the extension of the lender of last resort support to non bank financial institutions. Specifically, the new $200 bn term facility allows primary dealers – many of which are non banks – to swap their toxic mortgage backed securities for US Treasuries; second, the Fed provided emergency support to Bear Stearns and following the purchase of Bear Stearns by JPMorgan, is now providing a $30 bn plus support to JPMorgan to help the rescue of Bear Stearns; finally, now the Fed is allowing primary dealers to access the Fed discount window at the same terms as banks.

This is the most radical change and expansions of Fed powers and functions since the Great Depression: essentially the Fed now can lend unlimited amounts to non bank highly leveraged institutions that it does not regulate. The Fed is treating this run on the shadow financial system as a liquidity run but the Fed has no idea of whether such institutions are insolvent. As JPMorgan paid only about $200 million for Bear Stearns – and only after the Fed promised a $30 billlion loan – this was a clear case where this non bank financial institution was insolvent. *

Alan Moore

and Art Spiegelman and Daniell Cllowes appeared on last nights episode of the Simpsons. As fun as that was – and as groovy as the Tintin embedded short was – what nearly made me fall out of my chair was the poster behind the animated Moore in the book-signing scene. It was for the Lost Girls – I guess that’s what critics call transgressive (or not – I’ve never been able to figure that out word litcrit-wise). I’m sure the poster reference is all over the interwebs by now – though a quick google didn’t turn anything up – just wanted to put down a marker. I noticed!

Update – It’ll probably be mere minutes before Youtube pulls the clip down, but in this brief window of opportunity, the scene in question:

Vote Robot Overlord!

Vote Robot Overlord

They’ll Know If You Didn’t

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Once again Kung Fu Monkey nails it.

John: Robot overlords. You are “pro-robot overlords”.
Tyrone: They bring world peace, universal health care —
John: At the cost of our freedoms!
Tyrone: MY POINT EXACTLY. We’re already giving up our freedoms — our right to privacy, gone.

And follows up with an embedded video of filthy anti-robot-overlprotector agitprop. I found this great graphic via kfmonkey comments – thanks flynngrrl.

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Back in the irrational world, Dear Leader announced steps to reduce airline delays during the holiday travel season by opening some restricted military airspace. When I heard about it, something didn’t ring true – I thought the biggest problems occurred at the endpoints – airport congestion. In fact, I’ve heard a couple stories recently about how competition for good time slots (everyone wants to leave between 7 and 9 AM for example) is driving some of the mess. I waited for the media to shed a little light – nothing. I must have been wrong; certainly, if it were a BS political stunt, someone would say so (some sarcasm there).

Via James Fallows and Get the Flick – maybe it’s BS after all – who woulda thunk it?

If you can’t figure out how adding two “express lanes” into the mall parking lot on the day after Thanksgiving is going to help you find a (nonexistent) parking space…you aren’t the only one. I guess knowing you are in the express lane will somehow make the wait seem better than if you were waiting in the regular lane.

Oh well. I guess I should be used to all this by now. Just so my non-controller readers will know…

The military airspace referred to — according to the controllers that work it — has always been opened to civilian traffic during the holidays. If there is a thunderstorm (not likely in late November) over the land routes the airspace will come in handy. Otherwise, the only thing it will be good for is extra holding patterns. *

Air traffic via Making Light.