The Big Short (Warning Some Language May Be Offensive)

--by Bob Lefsetz

Can I recommend an unreadable book?

Let's say I gave you the keys to a recording studio, and despite having no previous knowledge I told you to emerge in two weeks with a hit record, would you be able to do it?

Even better, would you be willing to take the risk?

No one wants to do the work.  No one wants to expend the energy to be able to comprehend and play in their chosen field, they'd rather just tear down the winners.

Then again, in our sports-centric society, it's mantra that you can't succeed unless you play by the rules, the ones established by the big kahunas, who dominate the game you want to play.  If you question them, they say WHO THE FUCK ARE YOU?

And these big swinging dicks often succeed in keeping upstarts at bay via bullying.

And there you have the music business in a nutshell.  The game is rigged against you, and the powers that be won't grant you a toehold and will excoriate you ad infinitum if you try and challenge them.

In other words, Irving Azoff is smarter than you.  But can you believe everything he and his compatriot Michael Rapino have to say about Live Nation and the touring market?

I was fascinated by the excerpt of "The Big Short" I read on a plane back in March, made my yearly subscription to "Vanity Fair" worth it.  But I didn't read the book right away, because it wasn't available in a Kindle edition.  And by time it was, months later, the heat was off.  Kind of like the Kings Of Leon.  You wanted to see them LAST year, only losers are going now.

But knowing I had a long flight to Europe, I purchased the book on my Kindle, but I didn't start reading it until ten days ago.

Now I know why the book's had so little impact since the "60 Minutes" hype.  Despite selling so many copies, almost no one's read it.  Otherwise, there'd be an uprising, demanding the heads of all financial institutions, regulation up the yin-yang.  You see, reading "The Big Short" is like gaining twenty years of Wall Street knowledge in one 266 page book.  It's like starting law school and having to pass the bar exam in thirty days, and defend a criminal in court thirty days after that.

That's what these guys are.  Criminals.

You don't have to be convicted to be a criminal.  Then again, that's the problem, everybody's a criminal today, everyone's cutting corners, screwing one another, trying to get ahead.  This is the essence of the tax cuts...  Under the fiction of growing the economy, the rich get to keep all their money.  You don't want to kill the economy, do you?  If those rich people don't spend their money you won't have a job and the country will go down the tubes.  You won't be able to afford a flat screen!  You won't be able to go on vacation!

So even though you rent an apartment and drive a clunker, you'd better protect the fat cats, because one day you're gonna be a fat cat too.  HUH?

"'That's when I decided the system was really, "Fuck the poor."'"

Steve Eisman

My mother always told me the establishment knew, that the people in power were better than I was, that I could never play on their level, I was meaningless.

But at least I was better off than Snooki.  You see they should cancel college, or call it trade school, or party school.  Most universities are diploma mills.  Kids drink and study business and think they're equal to those in power.  Hogwash.  "The Jersey Shore" crew went to college.  But I doubt they could finish "The Big Short".

Reading this book made me glad I grubbed grades to get into a good college.  Made me smile reflecting on reading books for eight hours a day at Middlebury.  You see it was all preparation, an entrance ticket to being able to read and comprehend "The Big Short", to being able to comprehend the financial system.

Hell, I'm still not sure I get it.  But I haven't read a book so slowly in eons.  Because I read a paragraph and scratch my head.  I have to go back to understand.  Hell, I finally felt good when a footnote said:

"Dear Reader: If you have followed the story this far, you deserve not only a gold star..."

I suddenly didn't feel so dumb.  Yes, it was hard to understand.

But that's the essence of Wall Street.  The bond salesmen don't give you the facts.  It's like buying a car not knowing what kind of engine it's got.  From the outside, it looks good.  Does it have cruise control?  There's no brand.  You know you're gonna get screwed...what is a fair price?

Yes, that's what buyers of these bonds say...they know they're gonna get fucked.

But it gets worse.

Let's say you've got insurance on your house.  And it burns down.  And you go to collect.  What if the insurance company didn't agree the house had gone up in flames?  Wouldn't that make your head spin?  Or let's say someone stole your new Mac, bought just the day before, and the insurance company said it was worth ten bucks.  You know it's worth two thousand!  But it doesn't matter if all your friends agree with you, it just matters what the insurance company says.  Oh, you can sue, but what if the insurance company goes out of business!  Yes, people bought credit default swaps from Bear Stearns, but if Bear Stearns went out of business, THEN WHAT?

It's like when record chains go out of business.  You lose everything.  The debt is uncollectable.

You see everything is business.  But most people don't understand.  Hell, the guy who lost $9.2 billion for Morgan Stanley had no idea what he'd bought.  He tried to protect his main asset by selling insurance on a new asset that he felt could never go under.  Which, of course, it did.  Sure, greed played a factor, but even more important was ignorance.

The heroes of this story are those who were willing to buck the trend, who were willing to question the powers that be and lay their money down to prove their point in a game that was rigged against them.  This is like believing Live Nation makes no financial sense and starting an indie promotion company.  Or competing against Universal Music.  Do you have the cojones?

Almost no one does.

The whole fucking country's a free-for-all.  From Obama on down.  I'm a dyed-in-the-wool Democrat, but Timothy Geithner plays for the wrong team and all of Washington is beholden to special interests.

Then there are the truly ignorant.  Who say let's just pray to God, cut taxes and eliminate all government spending.  This is exactly what the rapers and pillagers want, don't you see!  An unregulated world where they can extract even more profit, as roads, bridges and entire cities crumble, all the while telling you that you need to swallow strong medicine while they go on in perfect health.

I'll make it perfectly clear.  The American public is TOO DUMB to save itself.  And those with a brain are too uneducated, or too unwilling to do the hard work to get ahead.

Somehow we believe a bit of fame and some material comforts make a life.  Hell, it's no different from major labels who make an act a star and get rich while the act ends up broke.  The system never changes because there are endless marks lining up to get famous and then go broke.  The system can't change because the vast majority of the public likes to get high and go to the sideshow, laugh at the idiots as anonymous string-pullers get rich behind closed doors.

It's not only these financial "wizards".  Try getting a major label majordomo to go on the record.  Or Michael Rapino.  They know it's a scam, they don't want the truth revealed.  They're getting rich and they want no light shed upon their enterprise.  They want to retire with money in the bank, enough for not only them, but their children's children's children.

It's all there in black and white.

But the public would rather watch talking heads on cable TV argue about kidnappings and other irrelevant "news events".

You can read this book and get ahead.

Or you can take that challenge and try to create a hit record from scratch.

Either you're part of the problem or part of the solution.

And right now, too many people are part of the problem.

And too many of those who demand change don't even understand the problem.  Not only Sarah Palin, but the rest of the Tea Party.  Don't you get it!  They love when you fight over immigration and religion and all the shit everybody's got an opinion on.  It just means that they can continue to make all that money doing stuff you just can't understand.

America used to be about the best and the brightest.

Now we're not even number one in college graduations.  Shopaholics make "Haul Videos" showing off the tchotchkes they've acquired.

I'd like to pull you into the new world, get you to come along as we pull out our flashlights and try to peek under the rug, but you don't want to come.  You'd rather just stay home and bitch.  Because if you left the comfort of your home, if you questioned authority, if you did something new, you'd be taking a risk.  And the real story is we're a nation of complacent pussies, bitching that we want our entitlements, but we don't want to pay for them.

I'm sick and tired of it.  Turn off the TV set.  Sit down with this book.  Read it from cover to cover.  And then tell me I'm not right.  Hell, if you think I'm not right then you WORK for one of these Wall Street firms.  Truly, your eyes will bug out when you read "The Big Short".  You'll get angry, pissed, you'll want to revolt.  But, like I said, most people can't understand "The Big Short".  And too many who can, are not willing to put in the time.  What a sad, sad state of affairs.

Posted via email from Kleerstreem's Posterous

The Big Short (Warning Some Language May Be Offensive)

--by Bob Lefsetz

Can I recommend an unreadable book?

Let's say I gave you the keys to a recording studio, and despite having no previous knowledge I told you to emerge in two weeks with a hit record, would you be able to do it?

Even better, would you be willing to take the risk?

No one wants to do the work.  No one wants to expend the energy to be able to comprehend and play in their chosen field, they'd rather just tear down the winners.

Then again, in our sports-centric society, it's mantra that you can't succeed unless you play by the rules, the ones established by the big kahunas, who dominate the game you want to play.  If you question them, they say WHO THE FUCK ARE YOU?

And these big swinging dicks often succeed in keeping upstarts at bay via bullying.

And there you have the music business in a nutshell.  The game is rigged against you, and the powers that be won't grant you a toehold and will excoriate you ad infinitum if you try and challenge them.

In other words, Irving Azoff is smarter than you.  But can you believe everything he and his compatriot Michael Rapino have to say about Live Nation and the touring market?

I was fascinated by the excerpt of "The Big Short" I read on a plane back in March, made my yearly subscription to "Vanity Fair" worth it.  But I didn't read the book right away, because it wasn't available in a Kindle edition.  And by time it was, months later, the heat was off.  Kind of like the Kings Of Leon.  You wanted to see them LAST year, only losers are going now.

But knowing I had a long flight to Europe, I purchased the book on my Kindle, but I didn't start reading it until ten days ago.

Now I know why the book's had so little impact since the "60 Minutes" hype.  Despite selling so many copies, almost no one's read it.  Otherwise, there'd be an uprising, demanding the heads of all financial institutions, regulation up the yin-yang.  You see, reading "The Big Short" is like gaining twenty years of Wall Street knowledge in one 266 page book.  It's like starting law school and having to pass the bar exam in thirty days, and defend a criminal in court thirty days after that.

That's what these guys are.  Criminals.

You don't have to be convicted to be a criminal.  Then again, that's the problem, everybody's a criminal today, everyone's cutting corners, screwing one another, trying to get ahead.  This is the essence of the tax cuts...  Under the fiction of growing the economy, the rich get to keep all their money.  You don't want to kill the economy, do you?  If those rich people don't spend their money you won't have a job and the country will go down the tubes.  You won't be able to afford a flat screen!  You won't be able to go on vacation!

So even though you rent an apartment and drive a clunker, you'd better protect the fat cats, because one day you're gonna be a fat cat too.  HUH?

"'That's when I decided the system was really, "Fuck the poor."'"

Steve Eisman

My mother always told me the establishment knew, that the people in power were better than I was, that I could never play on their level, I was meaningless.

But at least I was better off than Snooki.  You see they should cancel college, or call it trade school, or party school.  Most universities are diploma mills.  Kids drink and study business and think they're equal to those in power.  Hogwash.  "The Jersey Shore" crew went to college.  But I doubt they could finish "The Big Short".

Reading this book made me glad I grubbed grades to get into a good college.  Made me smile reflecting on reading books for eight hours a day at Middlebury.  You see it was all preparation, an entrance ticket to being able to read and comprehend "The Big Short", to being able to comprehend the financial system.

Hell, I'm still not sure I get it.  But I haven't read a book so slowly in eons.  Because I read a paragraph and scratch my head.  I have to go back to understand.  Hell, I finally felt good when a footnote said:

"Dear Reader: If you have followed the story this far, you deserve not only a gold star..."

I suddenly didn't feel so dumb.  Yes, it was hard to understand.

But that's the essence of Wall Street.  The bond salesmen don't give you the facts.  It's like buying a car not knowing what kind of engine it's got.  From the outside, it looks good.  Does it have cruise control?  There's no brand.  You know you're gonna get screwed...what is a fair price?

Yes, that's what buyers of these bonds say...they know they're gonna get fucked.

But it gets worse.

Let's say you've got insurance on your house.  And it burns down.  And you go to collect.  What if the insurance company didn't agree the house had gone up in flames?  Wouldn't that make your head spin?  Or let's say someone stole your new Mac, bought just the day before, and the insurance company said it was worth ten bucks.  You know it's worth two thousand!  But it doesn't matter if all your friends agree with you, it just matters what the insurance company says.  Oh, you can sue, but what if the insurance company goes out of business!  Yes, people bought credit default swaps from Bear Stearns, but if Bear Stearns went out of business, THEN WHAT?

It's like when record chains go out of business.  You lose everything.  The debt is uncollectable.

You see everything is business.  But most people don't understand.  Hell, the guy who lost $9.2 billion for Morgan Stanley had no idea what he'd bought.  He tried to protect his main asset by selling insurance on a new asset that he felt could never go under.  Which, of course, it did.  Sure, greed played a factor, but even more important was ignorance.

The heroes of this story are those who were willing to buck the trend, who were willing to question the powers that be and lay their money down to prove their point in a game that was rigged against them.  This is like believing Live Nation makes no financial sense and starting an indie promotion company.  Or competing against Universal Music.  Do you have the cojones?

Almost no one does.

The whole fucking country's a free-for-all.  From Obama on down.  I'm a dyed-in-the-wool Democrat, but Timothy Geithner plays for the wrong team and all of Washington is beholden to special interests.

Then there are the truly ignorant.  Who say let's just pray to God, cut taxes and eliminate all government spending.  This is exactly what the rapers and pillagers want, don't you see!  An unregulated world where they can extract even more profit, as roads, bridges and entire cities crumble, all the while telling you that you need to swallow strong medicine while they go on in perfect health.

I'll make it perfectly clear.  The American public is TOO DUMB to save itself.  And those with a brain are too uneducated, or too unwilling to do the hard work to get ahead.

Somehow we believe a bit of fame and some material comforts make a life.  Hell, it's no different from major labels who make an act a star and get rich while the act ends up broke.  The system never changes because there are endless marks lining up to get famous and then go broke.  The system can't change because the vast majority of the public likes to get high and go to the sideshow, laugh at the idiots as anonymous string-pullers get rich behind closed doors.

It's not only these financial "wizards".  Try getting a major label majordomo to go on the record.  Or Michael Rapino.  They know it's a scam, they don't want the truth revealed.  They're getting rich and they want no light shed upon their enterprise.  They want to retire with money in the bank, enough for not only them, but their children's children's children.

It's all there in black and white.

But the public would rather watch talking heads on cable TV argue about kidnappings and other irrelevant "news events".

You can read this book and get ahead.

Or you can take that challenge and try to create a hit record from scratch.

Either you're part of the problem or part of the solution.

And right now, too many people are part of the problem.

And too many of those who demand change don't even understand the problem.  Not only Sarah Palin, but the rest of the Tea Party.  Don't you get it!  They love when you fight over immigration and religion and all the shit everybody's got an opinion on.  It just means that they can continue to make all that money doing stuff you just can't understand.

America used to be about the best and the brightest.

Now we're not even number one in college graduations.  Shopaholics make "Haul Videos" showing off the tchotchkes they've acquired.

I'd like to pull you into the new world, get you to come along as we pull out our flashlights and try to peek under the rug, but you don't want to come.  You'd rather just stay home and bitch.  Because if you left the comfort of your home, if you questioned authority, if you did something new, you'd be taking a risk.  And the real story is we're a nation of complacent pussies, bitching that we want our entitlements, but we don't want to pay for them.

I'm sick and tired of it.  Turn off the TV set.  Sit down with this book.  Read it from cover to cover.  And then tell me I'm not right.  Hell, if you think I'm not right then you WORK for one of these Wall Street firms.  Truly, your eyes will bug out when you read "The Big Short".  You'll get angry, pissed, you'll want to revolt.  But, like I said, most people can't understand "The Big Short".  And too many who can, are not willing to put in the time.  What a sad, sad state of affairs.

Posted via email from Music Business Information

Seven reasons Fox hasn't signed an "Idol" JUDGE!!

James Hibberd
Reuters US Online Report Entertainment News

Aug 12, 2010 13:02 EDT

LOS ANGELES (Hollywood Reporter) - Simon Cowell declared he's leaving "American Idol" back in January.

Now it's a few weeks before the "Idol" judging panel goes before the cameras on the show's audition trail, and there's still no replacement named.

Oh, and Fox needs to replace Ellen DeGeneres too. And probably Kara DioGuardi.

Why is hiring a TV talent show judge (or two, or three) taking so long?

Sources say there are at least seven variables at play:

1. Chasing celebrities: If Fox tried to replace Cowell with somebody like Cowell -- a snarky record producer with a well-trained ear for spotting talent -- all this would have been over months ago. And with far less interesting results. Fox is intent on hiring somebody so famous that they don't need to judge "Idol." And anybody who fits that bill is going to want...

2. Money: Top-pick Elton John wanted too much. Now, by one report, Jennifer Lopez's deal fell apart due to her so-called "unreasonable" demands. Sources close to the matter tell The Hollywood Reporter, however, that "nothing is off the table" regarding Lopez and that Fox has not given up on her. At the end of his run, Cowell was making an estimated $36 million a year judging "Idol," but was also a proven ratings draw. Fox has to weigh how much they want to pay a famous face for a job the person has never attempted. Lopez asked for north of $20 million -- plus her own hair, makeup, styling team and her own "dressing room compound" (not dissimilar to Cowell's posh trailer). But the network does not want to pay Simon dollars for a newcomer who is going to be the show's, ahem, X factor.

3. A crowded kitchen: Any major "Idol" decision is like a Quickfire Challenge on "Top Chef" -- cooks, cooks, running everywhere, all with their own list of ingredients. The word "chaos" is oft-used to describe these ongoing conversations. You have Fox president of alternative entertainment Mike Darnell, along with entertainment chairman Peter Rice. There's 19 Entertainment chief and "Idol" creator Simon Fuller, along with returning executive producer Nigel Lythgoe. Don't forget Fremantle Media president and "Idol" executive producer Cecile Frot-Coutaz. And producers and network executives aren't the only ones with a vote...

4. The roommate factor: If hired as an "Idol" judge, the single biggest impact on your experience will be the person sitting beside you. Any celebrity intent on joining "Idol" wants to have suitable fellow judges -- either for ego reasons ("You consider him on par with me?") or for comfort ("I want somebody I'll get along with"). Lopez has this concern, as well. And getting judges who agree to work with one another is only part of the equation. There's also...

5. The chemistry set: Could "Idol" have two female judges? More than one black judge? Another Brit? What are their ages? Gay or straight? Fox and Co. have the headache of trying to create on paper a formula for success. Not to mention there's...

6. Fear of commitment. Cowell made this job look easy. Stroll from his trailer onto the "Idol" set, insult a few people, walk back to his Bentley. But participating in a season of "Idol" is a significant commitment. A month in the fall, then about four months after the first of the year, with plenty of live shows. Again, not a problem for a record producer longing for the gig, but if you're a celebrity who records albums and tours, it's a serious investment. Especially when....

7. Being the new "Idol" judge is like trying to play James Bond after Sean Connery or, at least, being the second Becky on "Roseanne." The advantages are obvious. Yet for anybody sensitive about their portrayal in the media -- and what celebrity isn't? -- the disadvantages are all-too apparent: DeGeneres and DioGuardi were ripped by some critics -- and they weren't in the position of replacing Cowell, the man who defined the job. Lopez and Tyler, since their names were published as potential judges, also resulted in some backlash. (Some suggest that gauging this backlash is the reason the names were leaked in the first place). Becoming a "Idol" judge: It's the worst best job in the world!

Posted via email from Music Business Information

ROOTS OF WORLD POVERTY MISUNDERSTOOD

BY ..... 

Anirudh Krishna (Duke University)

Too much focus is spent on finding new ways to lift people out of poverty instead of coming to terms with why they became poor in the first place, according to a new book.

“It seems almost as if we have taken it for granted that all poor people are born poor—which they are not,” writes Anirudh Krishna, associate professor of public policy and political science at Duke University.

Krishna’s team spent the past decade conducting thousands of interviews in nearly 400 diverse communities around the world.

“A large proportion of currently poor people were not born to poverty; they have become poor within their lifetimes.”

His book, One Illness Away: Why People Become Poor and How they Escape Povertycalls on government officials, economists, and others to pay more attention to the everyday lives and ordinary events that underlie poverty.

Beyond country-level statistics and political headlines that grab attention, he says, people in barrios and remote villages are confronting challenges whose solutions may not lie with economic growth alone.

Poverty unfolds every day as individuals are overwhelmed by illness, debt, drought, and other pressures, Krishna says.

“No universal solvent exists that can ‘fix’ poverty,” he says. “We need to learn more about accelerating growth, but we also need to learn more about macro-micro links and about grassroots-level opportunities and threats.”

The factors that drive individuals into poverty vary from place to place, although unexpected illnesses are a major cause almost every place where health care resources are lacking, Krishna says.

Expensive funerals and weddings are common in some countries, while high-interest debt is more of a problem elsewhere.

Concepts such as “poverty level” inadequately capture the lives of those affected, since someone earning a penny above a poverty level of one dollar per day fares little better than a neighbor earning a penny below the level. Too often, Krishna says, such statistics mask the harsh realities facing those living at the margins.

“Commentators who applaud the rapid economic strides taken by China and India should take note of the large-scale human tragedies that are occurring in parallel,” he writes.

“The official Chinese news media are regularly filled with accounts of the desperate choices that people are regularly forced to make over health care, of brothers who must draw lots to see whose serious illness will be treated because their family cannot afford to treat both, or of a father who sells a kidney to treat an ill son. A similarly grim picture is emerging in many other developing countries.”

Working with other scholars, Krishna has developed a methodology to understand poverty from the perspective of the poor themselves, highlighting the pathways by which their lives change.

“New tactics are required along with new methods of investigation,” he writes. “The thrust and direction of targeting policy has to change. In the past, programs have focused attention on whom to target, ignoring what to target, which is a mistake.”

Few people become or remain poor because of alcoholism, drug use or idleness, according to Krishna, who says “laziness is not particularly a trait of those who are poor.” What’s more common is people succumbing to dangers that are largely preventable.

Even when they do escape the starkest poverty, they are unlikely to rise much higher. “Raising a mass of people out of poverty is certainly a praiseworthy achievement—but it is hardly enough,” he writes.

“Imagine if someone like Einstein had been born into poverty. Would it be a sufficient achievement to raise him to day laborer?”

Some nations have succeeded in counteracting the factors within their borders that lead people to become or remain poor, according to Krishna. He cites countries as diverse as Costa Rica, Cuba, Thailand, Malaysia, and Colombia that established health care systems that help citizens avoid financial ruin from illnesses.

The Grameen Bank in Bangladesh, founded by Nobel laureate Muhammad Yunus, has shown how to combine innovative financial programs with effective social initiatives. Similarly deliberate actions on a wider scale helped Japan reduce its poverty rate to 2 percent, much lower than the U.S. rate of more than 13 percent, he argues.

“Waiting until someone has fallen into poverty is hardly the time when assistance can or should be provided,” writes Krishna.

“Preventive assistance must become the norm. In parallel, efforts must be made to substantially augment the prospects for upward mobility.

“By addressing descents directly and effectively, and at the same time, by promoting more and better pathways for escape, we will be able to make faster progress against poverty than we have at any time in the past.”

Posted via email from Kleerstreem's Posterous

Oh, So Now They Call Social Security a ‘Crisis’

In her HamNation column in the August issue of Townhall Magazine, Mary Katharine Ham explains that, though entitlement reform zapped President Bush, everybody can now see the looming disaster, and it has become something we might actually be able to tackle. Back in 2005, President George W. Bush embarked upon what may have been the bravest and most ill-fated campaign of his presidency. It inspired some rhetoric on par with, if not worse than, that of anti-war politicians criticizing efforts in Afghanistan and Iraq. The fight was over Social Security -- the sacred entitlement, the legacy of FDR, the so-called third rail of American politics. Subscribe to Townhall Magazine today and receive Laura Ingraham's The Obama Diaries free!  Bush, in what was a responsible if badly pitched campaign, sought to convince American voters of the imminent financial crisis Social Security was facing and that they should support a plan to give individual citizens some ownership over their benefits. He failed to convince the public, and the Democratic Party happily embraced a role as the "Party of No," scoffing at Bush's allegedly manufactured crisis. Flash forward to this year, when the New York Times reported: "This year, the system will pay out more in benefits than it receives in payroll taxes, an important threshold it was not expected to cross until at least 2016, according to the Congressional Budget Office." About that crisis. The Associated Press reported this spring that, in light of this new development, it would be nice for the federal government to tap into that nest egg of extra Social Security tax revenue its been collecting all these years -- if it hadn’t already spent it. "The Treasury Department issued a stack of IOUs -- in the form of Treasury bonds -- which are kept in a nondescript office building just down the street from Parkersburg's municipal offices." The federal government is now cashing in the IOUs for foreign debt. Welcome to a crisis. Somewhat luckily, given that we're awash in run-away entitlements and unfunded mandates from now until the end of time, the national mood is in favor of recognizing the problem and doing something about it. As illustrated by 2005's Social Security reform circus, it has, up until now, always been easier to demonize someone trying to make tough choices to fix an entitlement problem and ignore the problem as it gets larger and larger. Subscribe to Townhall Magazine today and receive Laura Ingraham's The Obama Diaries free!  Spineless politicians were always going to need the consensus of the American people to tackle entitlements. Spending money we don’t have is, after all, so much more fun than paying for the things we've bought. Solving the entitlement problem will still be extremely hard, and I’m not convinced politicians will have the stomach for it, even with the American people asking them to. After all, they just spent $2 trillion on a health care entitlement more than half the country asked them not to pass. But there are rhetorical rays of light that suggest the third rail may become slightly less dangerous in the future. To read the entire August HamNation column, order Townhall Magazine today and receive Laura Ingraham's The Obama Diaries free!

***

With your subscription you also get the choice of a free book! Townhall Magazine has a limited number of the new Laura Ingraham Book, The Obama Diaries left. Subscribe quickly and get The Obama Diaries free along with the August issue. Townhall Magazine is the monthly news and opinion journal from the same team of right-thinking reporters, opinions makers, insiders and political leaders conservatives have trusted for 15 years. It's the place to find interviews with and profiles and writings of some of your favorite conservatives, including Ann Coulter, Michelle Malkin, Thomas Sowell, Andrew Breitbart, Newt Gingrich, Walter Williams, Charles Krauthammer, George Will, Jonah Goldberg, Tim Pawlenty, Michele Bachmann, Wayne LaPierre,Mitt Romney, Pat Toomey, Mike Pence, Bill Bennett, Fred Thompson, and many more.  Townhall Magazine is exclusively in print. Townhall Magazine's coverage features investigative journalism, in-depth reporting, heavily researched analysis, interviews with the heavy hitters and powerful exposes--all exclusive to the magazine.  No other magazine offers you this brilliant combination of smart, conservative, in-depth reporting and opinion that truly reflects your values.  Townhall Magazine is taking "conservative magazines" to new heights with its investigative reporting and stories, conservative humor, photography, culture, and commentary from your favorites. Fresh. Intelligent. Conservative.

 

Posted via email from Global Politics

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Complex Flowchart

Why Digital Pens?

The development of digital pens is comparable to the invention of email. This technology has just as much potential to revolutionize the way we share information and conduct business. Some businesses have been using the electronically-enabled pens for mapping, surveying, filling out forms, and other business functions for the last few years, but consumers are just scratching the surface in understanding the multi-purpose functionality of these pens right now. Expect big developments in this technology in the next few years.

Although different elements of the technology have been around for a while, none of the pens we reviewed have been in existence for more than five years. Some of the pens share technology components, while other components are unique. Some such as the Echo Smartpen, Pulse Smartpen and Capturx for OneNote require the use of special paper and contain a camera within the pen itself. For others such as the Mobile Digital Scribe, the recording/sensor technology is housed in an accompanying docking device that must be placed on or near the paper on which you are writing. All the pens we included in our review allow you to upload your hand-written words, tables and illustrations electronically to an application on your computer. Most convert the data to text which can then be imported into a Word document or the body of an email. Some provide online components to better help you share your electronic notes with friends and colleagues. Others record the audio of the meeting for which you are taking notes and include it in a Flash file with your hand-written notes.

Electronic pens are useful for college students, journalists and business people. Many pens are marketed for use in the educational environment, but Livescribe, manufacturer of the Smartpen, says that 70 percent of their customer base uses the computerized pens for business-related purposes. The pens are also fun for children.

Digital Pens: What to Look for

Ease of Use
Since this technology is modifying a rudimentary human skill that many of us take for granted, the pens must add value in a way that doesn't interfere with the process. In addition, the accompanying software must be practical and easy to use, so anyone can feel comfortable performing basic tasks regardless of computer knowledge.

Feature Set
The electronic writing devices we reviewed each provide a method for transmitting hand-written words, tables and illustrations in electronic form to your computer. Some provide state-of-the-art optical character recognition (OCR) capabilities. The best pens provide features that simplify or streamline common business tasks so they can become valuable tools for everyday use.

Performance
Even if pens are chock full of features, they must be easy and comfortable to write with, and the technology should reasonably capture the words you write.

Ease of Setup
Setup should be straightforward. Particularly because this is a new technology, pen manufacturers should offer detailed instructions to get you up and running as quickly as possible. In addition, initial product packages should include all the accessories you need for basic functionality.

Help/Support
Manufacturers should provide sufficient help and support including tutorials, FAQs, online technical support and contact information—including an email address and/or phone number—in which to contact customer service.

Computerized pens are very helpful for anyone who prefers to take hand-written notes over typing them into a laptop or PDA. Speaking of laptops, some bosses have banned them from meetings because of the tendency of those who bring them to play a more passive role. Without the ability to hide behind a computer screen, attendees are more likely to verbally share ideas and participate in the discussion. The electronic pens are less intrusive in a meeting, but they still allow meeting attendees to take notes which can then conveniently be imported to their computers for business use.

Email, instant messaging and texting capabilities today have caused daily, written communication to usually come in typed packages. Over the past few decades, we have seen a decreasing emphasis on perfecting handwriting skills in school as a result. Of course, as long as it's legible, handwriting will get the message across. Transmitting hand-written messages may seem unprofessional by some. However, there is a certain candor in handwriting that evokes friendship. The rarity of receiving a hand-written note actually draws attention to the message you wish to convey.

On this site, we have included reviews for six digital pens. We also have articles on

digital pens

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Digital pens will likely be a social revolution. Technology today provides for electronic writing devices that are comparable to the regular ink pens we are so familiar with. Handwriting in digital form allows for quick and convenient transmittal of messages to friends and colleagues.

Posted via email from Kleerstreem's Posterous

20 Little Changes for a Healthier Life

By: Jeff Csatari for Men's Health

It's hard to make big changes in life. The energy and time commitment is often too great. That's why so many Americans still struggle with their health. The problem isn't knowing what to do; it's doing it. So why not take the opposite approach? Forget about such grand, amorphous goals as losing weight or getting in shape. Instead, aim to drink the leftover milk in your cereal bowl each morning to get more vitamins, or hold your fork in your non-dominant hand to slow your eating, or "forget" your glasses the next time you're at the gym so you won't get distracted. Little tips like these can make a big difference over time.

Decorate Your Plate

A 14-year study found that men whose diets were highest in fruits and vegetables had a 70 percent lower risk of digestive-tract cancers. How to reach your quota: Never eat a meal that doesn't contain a vegetable or fruit. And no, fries don't count.

Dry-Brush Your Teeth

It cuts tartar by 60 percent and also reduces the risk of bleeding gums by half. Use a dry, soft brush to scrub the insides of your top and bottom teeth, then buff the outer surfaces. Rinse, spit, and brush briefly with toothpaste.

Never Skip Breakfast

A survey of more than 2,000 people who lost an average of 67 pounds and kept the weight off for more than 5 years found that 78 percent ate breakfast 7 days a week.

Eat More Pasta

Two to four servings of tomato sauce a week can cut your prostate-cancer risk by 34 percent.

Judge Cholesterol with Contact Lenses

A diet full of fat, protein, or alcohol weakens your tears' ability to block cholesterol from adhering to the lenses. This results in cloudy deposits. If your diet is destroying your contacts, just imagine what it's doing to your arteries.

Go Fishing Once a Week

Eating one serving of fish per week can halve your risk of a sudden fatal heart attack. The secret ingredient in fish is omega-3 fatty acids. Salmon is especially high in them.

Protect Your Erection with Blueberries

They contain compounds that improve circulation, and they're loaded with artery-scrubbing soluble fiber. Eat your berries fresh or in a smoothie three times a week.

Request the Chilean Red

To reduce your risk of cancer, drink red wine from Chile. Chilean cabernet sauvignon is 38 percent higher than French wine in flavonols, which are antioxidants that plunder cancer-causing free radicals.

Lend a Hand

Men who do volunteer work at least once a week have half the death rate of those who don't.

Crunch Away Back Pain

Seventy-five percent of all lower-back problems can be prevented by building your abdominal muscles. Aim for a dozen crunches every day.

Order Thin-Crust Pizza

It has a third fewer calories than thick-crust pie. Blot the cheese with a napkin to cut even more fat.

Skip That Second Cup

The caffeine in 2 cups of coffee adds 16 beats per minute to your heart rate.

Save Your Marriage

An unhappy one increases your chance of getting sick by 35 percent and shortens your life expectancy by 4 years.

Exercise Depression Away

Exercising for 40 minutes can reduce stress. In fact, studies show that working out on a regular basis can be as effective as taking antidepressants like Prozac.

Fall Asleep with Cherries

Cherries and cherry juice are concentrated sources of melatonin, a popular over-the-counter sleep aid.

Put a Shoe on Your Pillow

It'll determine whether your pillow supports your head and neck adequately. Fold the pillow in half and put a shoe on top; if the pillow springs back, it's okay.

"Kur" Your Fatigue

If you wake unusually early, dampen a towel with cool water and lightly wipe your arms, legs, and torso, then go back to bed. The body is very warm when it comes out of REM sleep. Back in bed, the body heats up even more. The result is a deep, restful sleep and more dreams. Called kur, this technique is standard at European spas. 

Raise Your Rearview

To prevent slouching (and the resultant lower-back pain) on long drives, tilt your rearview mirror up a bit. That way, you'll have to sit up to see the cars behind.

Take Vitamin E and Aspirin Daily

Researchers have found that this antioxidant-and-blood-thinner combination can reduce arterial plaque by 80 percent. The benefit of the two treatments together is so great that it may help men prevent atherosclerosis even if they can't lower their cholesterol levels.

Have a Banana

The potassium it contains can lower blood pressure.

Posted via email from WellCare

How Can I Get My Friend To Wake Up?

---By Billy Graham

Q: A good friend who used to be in my Bible study at church is heading down the wrong road, because he's secretly involved with someone who isn't his wife. I guess I ought to say something to him but I'm afraid I'll lose his friendship. Is there any way I can get him to wake up? -- B.N. 

A: You're right: Your friend is heading down the wrong road, and some day it will end in disaster. At the moment, he can't see it (or he refuses to see it) -- but it's still true. The Bible warns, "There is a way that seems right to a man, but in the end it leads to death" (Proverbs 14:12). 

What will likely happen if no one confronts him? Will he wake up, turn away from this illicit relationship and restore his marriage? Probably not. Only when he's faced with a collapsing marriage and a desperately-hurt family will he realize what he's done -- and then it will be too late. 

Instead, if you are the best person to reach him, I hope you'll have the courage to confront him and urge him to turn from his sinful ways. He may reject you -- but sometimes we have to take that risk in order to help someone. The Bible says, "Brothers, if someone is caught in a sin, you who are spiritual should restore him gently. But watch yourself, or you also may be tempted" (Galatians 6:1). 

The most important thing you can do, however, is to pray for him. Only God can convict him of his sin, and only God can cause him to repent and turn to Jesus Christ. The Bible says, "Pray for each other so that you may be healed" (James 5:16). 

Posted via email from Religion

French Green Beans with Butter and Herbs Recipe

Ever see those skinny little green beans in the market? They’re a French variety of green bean, also known as haricot vert, or filet beans. Haricot verts are more delicate than regular green beans and cook up more quickly. This is a simple recipe in which you blanch the beans first, and then sauté them quickly in a little butter with onions and fresh garden herbs. If you can't find haricot verts, you can use regular fresh green beans, just boil them a little longer.

Do you have a method of preparing haricot verts? Please let us know about it in the comments.

Use fresh herbs if available. If not, you can used dried, but use a quarter as much.

INGREDIENTS

• 1 pound thin green beans (haricot vert), trimmed
• 1/4 cup red onion, chopped fine
• 3 Tbsp butter
• 2 Tbsp parsley, chopped fine
• 2 Tbsp fresh thyme leaves
• 2 Tbsp tarragon or basil, chopped fine
• 2 Tbsp chives, chopped fine
• Salt and pepper to taste
• Lemon wedges

METHOD

1 Bring a large pot of salty water to a boil. Prepare a large bowl of ice water. Boil the beans for 2 minutes. Plunge them into the ice water to stop the cooking and set the color. Drain the beans and pat dry on a cloth or paper towel.

2 Heat the butter over medium-high heat in a large sauté pan. Cook the onions until translucent, about 2-3 minutes.

3 Add the green beans and sauté for 2-3 minutes, stirring often.

4 Add all the herbs and some salt and pepper and toss to combine. Cook for 1 minute more.

Serve hot or at room temperature, with lemon wedges.

Serves 4.

Posted via email from WellCare