Tree Stands in Way of Costly UMich Renovations, So Admin Will Spend $400K Moving It

LoraxThe University of Michigan is
spending millions of dollars to spiff up its Ross School of
Business—a building that is already among the most opulent school
facilities in the country, having been renovated less than a decade
ago. But a historic tree stands in the way of the construction
project, so university officials have budgeted $400,000 to relocate
the 200-year-old bur oak.

Consultants give it a 70-80 percent chance of surviving the
move, according to the
Ann Arbor News
:

Workers dug a four-foot-wide trench and will place steel beams
more than four feet below the tree’s base. Lifting devices will be
used break the the roots from the ground in order for it to be
unearthed. The tree will then be loaded onto a flat bed and
transferred less than a football field’s distance away from its
current location.

Jenny Cooper, a graduate student at the business school and
U-M’s School of Natural Resources, is one of 291 students, faculty
and staff who signed a petition urging the school to save the
tree.

“As I see it, the rationale for preserving the (legacy bur oak)
tree is about history, tradition, pride and respect,” she told The
Ann Arbor News in a previous interview. “The tree is a symbol of
strength and resilience and far predates the university as part of
the landscape.”

By the way, it should be noted that neither students nor
taxpayers are directly covering the cost of the project, which is
being paid for by billionaire philanthropist Stephen Ross, for whom
the building is named. Ross has given hundreds of millions of
dollars to the important cause of fancier buildings at UM,
including $200 million in 2013 for the Business School and athletic
facilities.

Ross can spend his money however he likes, of course. However, I
can’t help but wonder whether the students of this public
institution would have been better served by a generous
contribution to the university’s general fund—and an accompanying
tuition decrease. According to reports, UM fundraisers solicited
Ross for the latest donation; they came to him, in other words.
$200 million would have gone a long way toward halting the upward
spiral of tuition prices at UM, but I guess that didn’t come up in
the conversation? (“Thanks for transforming our Business School
into a spaceport, Mr. Ross; now let’s turn our attention to the
thousands of students who can no longer afford to attend UM, a
public university that exists for the primary purpose of educating
the children of Michigan residents.”)

Good news for the tree, though.

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Obama Goes on a Brief, Factually Inaccurate Rant About Russia

Tensions are high between the U.S. and Russia,
and President Barack Obama didn’t do anything to ease that this
weekend by belittling Russia with some questionable claims.

In an interview with The Economist this
weekend
, Obama shirked any blame for crumbling U.S.-Russian
relations and segued into downplaying the other nation’s global
significance. To back this up he
said
:

Immigrants aren’t rushing to Moscow in search of opportunity.
The life expectancy of the Russian male is around 60 years old. The
population is shrinking.

Not one of these sentences is true. Writing for Forbes,
Mark Adomanis, an evenhanded American expert on Russian affairs,
points out the “pretty startling amount of factual inaccuracy.” He

debunks
them in turn:

One of the first things that anyone notices when they are in
Moscow is the enormous number of immigrants
from Central Asia. Probably the single most noteworthy and
inescapable feature of modern Russian life is the prevalence of
hundreds of thousands, if not millions, of people who have already
rushed to Moscow “in search of opportunity.” It’s impossible to
miss them.

This is corroborated by both official Russian government
statistics and the work of its domestic political opponents.

With a dollop of snark, Adomanis explains that “life
expectancy… isn’t a subject of conjuncture or obscure
philosophical inquiry, it is a number that is very easily found on
the public-facing website
of the Russian state statistics service
.” And again, Obama is
wrong:

In 2013, the average male life expectancy in Russia was a little
bit above 65 (technically it was 65.14). When Obama says that life
expectancy is “around 60″ he’s off by about 8 percent. With a
similar margin of error we could say that Barack Obama is the 41st
president of the United States, that he won 47 percent of the vote
in the 2012 presidential election, and that he was born in 1957.
Eight percent is a margin of error that people rarely feel
confident using, because it very quickly makes you sound rather
ill-informed and ignorant.

Regarding the population, Adomanis suggests that “US political
elite almost always make huge mistakes when talking about it,” as
Russia’s
population is not shrinking, it is growing
.” And it has been
every year since 2009.

It’s bizarre that Obama criticized Russia on these fronts when
there’s plenty of legitimate issues – like Moscow’s crackdown
on civil rights
, the
pro-Western political opposition
, and
independent media
– that he could have addressed instead.

These, of course, don’t have much bearing on the war Russia is

waging against Ukrainian sovereignty
or the
mass killing of civilians on a Malaysian plane
, but whether
it’s due to a lazy team of fact-checkers or deliberate rah-rah
nationalism to boost the U.S. by comparison, dubious talking points
don’t help the Obama administration resolve the current crises.
Hearing the president say “Russia doesn’t make anything” will only
inflame anti-American sentiment among Russian civilians, thereby
reinforcing Putin’s own ballooning cushion of popular
support. And, there’s need for healthy debate about the U.S.’s

actions against the Kremlin throughout this war,
but by
spouting some easily-debunked information, Obama effectively
invites skepticism of the accuracy of other White House claims
about Russia. 

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Another Settlement – JP Morgan Receives Slap on the Wrist Despite Years of Fraudulent CFTC Data

Screen Shot 2014-08-04 at 10.33.30 AMThe Commodities Futures Trading Commission (CFTC) has been long viewed as one of the most corrupt of American institutions – and that’s saying a lot. Putting aside all the accusations with regard to silver manipulation investigations in recent years, the most stunning controversy occurred back in 2010 when a retiring judge accused the other remaining judge of being a total bought and paid for Wall Street crony.

The retiring judge was George Painter, who accused fellow judge Bruce Levine of not once ever ruling in favor of an investor in his 20 years on the bench. Not only that, but he claimed this was the result of a promise Levine made to Wendy Gramm, the former head of the CFTC and the wife of Phil Gramm. Phil Gramm was the Congressman who spearheaded the repeal of Glass-Steagall in 1999, which is seen by many (including myself) as one of the most catastrophic pieces of legislation in American history since it laid the groundwork for the financial crisis of 2008, as well as the continued cancerous permanence and power of TBTF banks. FiredogLake covered the CFTC controversy in 2010:

continue reading

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438 Ukrainian troops seek asylum in Russia; government passes ‘war tax’

August 4, 2014
Kiev, Ukraine

There’s nothing more permanent than a temporary government measure, as the old saying goes.

I was reminded of it when I came back to Kiev over the weekend and that the Ukrainian government imposed a series of “temporary” taxes to help the war effort.

And boy does this government need money.

According to both Ukrainian and Russian news sources, several hundred solders were left without weapons or ammunition and crossed the border into Russia.

The Ukrainian news suggests that this was a forced withdrawal after being routed by rebel forces. The Russian news suggests that the troops were seeking asylum, no doubt tired of war.

So the Ukrainian government is in a hurry, trying to raise at least $1 billion (a lot of money here).

They’ve jacked up wage taxes, natural resource taxes, and even taxes on farming exports.

But even if they collect the money they’re aiming for, Ukraine and its government are in a serious pinch.

For the last few months, even before the turmoil began, Ukraine has been in an inflationary cycle. Both retail and asset prices were spiraling higher.

Now they’ve entered a stagflationary period. The currency has gone into freefall. Unemployment is rising. The economy is contracting (6% by phony government estimates). And inflation is a whopping 19%… and rising.

These people are getting abused. And the worst is yet to come.

The banking system is borderline insolvent. The head of the local Citigroup branch here said that the non-performing loan ratio in Ukraine is as high as 40%.

And potentially up to 4% of all bank assets are now locked down in Crimea, which may or may not even be part of Ukraine any longer.

If the banking system collapses (and many here suspect it will), this place will become unglued. Asset prices will collapse, yet retail prices will surge even higher.

I can already see it on the street; so many businesses have closed. Hopeless unemployed youths are now roaming the city or joining the war effort.

And the entire populace has been mobilized to support the fight.

Of course, it’s pretty damn easy to cheer on the bloodshed when it’s not your blood. War can seem glorious when you only have to read about it in the newspapers.

There’s so much more I need to tell you about—the only way for me to capture this was in another podcast, probably the most emotional I’ve ever done.

Come listen for yourself:

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Guest Post: What Happens Next In The Middle East?

Submitted by James H. Kunstler via Kunstler.com,

That tractable beast, World Opinion, was apparently looking the other way when US video war-gamers blew up wedding parties and donkeys by remote control in Pakistan, Yemen, and Afghanistan, not to mention the now long ago shock-and-awe bombardment of poor innocent Iraq. It’s not paying much attention these days to the remorseless advance of ISIS (or ISL or the Islamic State) as it cuts a psychopathic swath through the Middle East marked by wholesale executions of civil servants, beheadings of “infidels,” and the occasional crucifixion of suspected enemies and traitors. UN Secretary Ban Ki Moon is so busy issuing condemnations of Israel that he has forgotten to ask Hamas the elementary question: What part of… quit firing rockets… don’t you understand?

Demonic forces are on the loose again now one hundred years after Europe blew itself apart for no good reason. (Why? Because some young Serbian nobody killed the heir to the Austrian throne on a back street in Sarajevo?) Maybe we are making a mistake to think that any sort of rationality applies now. Here in the depraved and disintegrating USA, we pretend that Afghanistan threatens our national interest from 7,000 miles away while denying that Russia has any business with its crumbling next-door neighbor (and former province), Ukraine — the crumbling of which was bought and paid for by the US Department of State and CIA.

The long sobering aftermath of World War Two is over now and World Opinion can once again assume the role of a rough beast slouching toward cataclysm. Starting from the premise that nothing is funnier than unhappiness, how funny is it that the US affects to manage the great demographic upheavals of the Middle East and Europe while it can’t even protect its own citizens from the still-florid looting and swindling operations of Wall Street — not to mention the wholesale renting of congressmen, cabinet secretaries, supreme court justices, and White House aides by US chartered corporations?

World Opinion is easily massaged by grandstanding around children who have been put in harm’s way deliberately by cynical adults. The UN was, shall we say, less than fastidious about Hamas stashing rockets and other war materials in their Gaza schools. In fact, they didn’t make peep — for years — and now they dare squawk that these arsenals are being targeted, even as Hamas continues its rocket attacks? Did these UN morons ever grok the possibility that they were being played? And, of course, not to change the subject too harshly but note also how children are being used to play the suspension of US immigration laws by cynical US political party hacks. Despite the dishonest pleadings of undocumentarians, what part of… illegal immigrant… remains unclear,?

Here is what I think is going to happen now.

Israel will withdraw from Gaza.

Hamas’s war-making ability has been deeply degraded for a while, but any further rocket attacks will be answered in kind. Perhaps the citizens of Gaza will rethink who they want to have as leaders.

The action will shift back to the ISIS swath across Syria and Iraq. ISIS has become a juggernaut, seizing enough money and valuable assets like oil and gas fields to greatly expand its vicious operations. You can say this about ISIS: they are very plain about their objective: to reestablish a fundamentalist caliphate — that is, to return to the eleventh century.

Personally, I think the Middle East is primed for exactly that outcome, since its brief adventure as a wealthy, modernized oil-producing region is reaching its natural limits.

The very specter of that fate is enough to destabilize the fragile political arrangements there, and may actually hasten the arrival of those natural limits as the activities of ISIS shuts in the necessarily rational operation of the companies that run the oil wells, pipelines, transport terminals.

Watch what it does to capital markets, without which oil production founders anywhere.

Speaking of capital markets, keep your eyes on the US indexes. Never has so much fragility-in-motion come so close to an implacable wall of consequence. All hell seems to be breaking loose.




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Don't Freak Out About Ebola Coming to America

I’m sure none of you would want to emulate Donald Trump,
but just in case you’re tempted to follow
his lead
and freak out about the Ebola patients coming to the
U.S. for treatment, here’s Danielle N. Lee to
talk some sense
into you:

Are you sure these outfits are necessary, Dustin? Emory is two thousand miles away.It is a frightening prospect to
have a disease with a 80-90 percent mortality rate so
close to home. People are concerned
that once Ebola arrives in the US
, people here will get sick
and the disease will spread.

There are two things, however, that are important for everyone
to understand.

First, Ebola
is already here in the US
. Scientists have been studying
the disease in well-secured laboratories for years, and there has
been no trouble.

In other words, there have been no new cases or incidences of
Ebola from these previous exposures to Ebola and related viral
hemorrhagic fever diseases.

Second, Ebola is actually very hard to contract….[C]ontracting
Ebola involves coming into direct contact with an infected person’s
body fluids, namely blood and feces. Caretakers such as relatives
and medical staff are at high risk of becoming infected. Otherwise,
the chances of anyone else in the community contracting Ebola is
practically zero. Transmission can be avoided by wearing protective
clothing and gloves, washing your hands, and avoiding physical
contact with individuals who are sick.

Read the rest
here
.

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Don’t Freak Out About Ebola Coming to America

I’m sure none of you would want to emulate Donald Trump,
but just in case you’re tempted to follow
his lead
and freak out about the Ebola patients coming to the
U.S. for treatment, here’s Danielle N. Lee to
talk some sense
into you:

Are you sure these outfits are necessary, Dustin? Emory is two thousand miles away.It is a frightening prospect to
have a disease with a 80-90 percent mortality rate so
close to home. People are concerned
that once Ebola arrives in the US
, people here will get sick
and the disease will spread.

There are two things, however, that are important for everyone
to understand.

First, Ebola
is already here in the US
. Scientists have been studying
the disease in well-secured laboratories for years, and there has
been no trouble.

In other words, there have been no new cases or incidences of
Ebola from these previous exposures to Ebola and related viral
hemorrhagic fever diseases.

Second, Ebola is actually very hard to contract….[C]ontracting
Ebola involves coming into direct contact with an infected person’s
body fluids, namely blood and feces. Caretakers such as relatives
and medical staff are at high risk of becoming infected. Otherwise,
the chances of anyone else in the community contracting Ebola is
practically zero. Transmission can be avoided by wearing protective
clothing and gloves, washing your hands, and avoiding physical
contact with individuals who are sick.

Read the rest
here
.

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Nigerian Doctor Treating Ebola Casualty Contracts Virus; Troops Deployed In Liberia

The Lagos doctor who treated American Patrick Sawyer (who died from Ebola in late July) has been confirmed as infected by the deadly virus by Nigerian authorities. This is Nigeria’s second confirmed case of Ebola but what is most concerning is the fact that the doctor’s infection suggests contagion is less well-contained that authorities have claimed – especially in light of the fact that they did not quarantine Sawyer’s fellow passengers. Nigeria is now the fourth nation to report Ebola cases, as Sierra Leone and Liberia are deploying hundreds of troops under an emergency plan to “contain” the worst outbreak of Ebola virus in history.

As AP reports,

Nigerian authorities say they have confirmed a second case of Ebola in Africa’s most populous country, an alarming development after a man who flew by plane to the country died of Ebola.

 

Nigerian Health Minister Onyebuchi Chukwu said Monday that the second person with Ebola is a doctor who had helped treat Patrick Sawyer, the Liberian-American man who died of Ebola in late July.

 

Sawyer, who was traveling to Nigeria on business, became ill while aboard a flight and Nigerian authorities immediately took him into isolation. They did not quarantine his fellow passengers, and have insisted that the risk of additional cases was minimal.

But it seems this is changing now as contagion concerns rise

According to the Minister, 70 people are now placed under surveillance while eight people would be quarantined on Monday for developing symptoms of the disease.

 

Apart from taking those steps, the government has also set up a treatment research group, that will carry out treatment research, receive and verify treatment claims as well as advise government on issues relating to Ebola virus in Nigeria.

Nigeria is the fourth country to report Ebola cases and at least 728 other people have died in Guinea, Sierra Leone and Liberia. And as Reuters reports, troops are now being deployed to manage the chaos…

Hundreds of troops deployed in Sierra Leone and Liberia on Monday under an emergency plan to fight the worst outbreak of the deadly Ebola virus, which has killed more than 826 people across West Africa.

 

Panic among local communities, which have attacked health workers and threatened to burn down isolation wards, prompted regional governments to impose tough measures last week, including the closure of schools and quarantine of the remote forest region hardest hit by the disease.

 

 

Long convoys of military trucks ferried troops and medical workers on Monday to Sierra Leone’s far east, where the density of cases is highest. Military spokesman Colonel Michael Samoura said the operation, code named Octopus, involved around 750 military personnel.

 

Troops will gather in the southeastern town of Bo before travelling to isolated communities to implement quarantines, he added. Healthcare workers will be allowed to come and go freely, and the communities will be kept supplied with food.

 

In neighbouring Liberia, President Ellen Johnson-Sirleaf and ministers held a crisis meeting on Sunday on putting in place a series of anti-Ebola measures as police contained infected communities in the northern Lofa county.

 

Police were setting up checkpoints and roadblocks for key entrance and exit points to those infected communities and every resident would be stopped. Nobody would be allowed to exit quarantined communities. Troops were fanning out across Liberia to help to deal with the emergency.

 

“The situation will probably get worse before it gets better,” Liberian Information Minister Lewis Brown told Reuters. “We are over-stretched. We need support; we need resources; we need workers.”

 

 

Director of Liberian National Police Chris Massaquoi said last week that troops would place forces in areas where crowds had previously stoned health workers. He added that all protests, demonstrations and marches had been forbidden.

*  *  *
Sadly, just as we warned here, this ‘containment’ was entirely foreseeable.




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A. Barton Hinkle on Obamacare and the Loss of Individual Choice

Obamacare imposes government mandates on
individuals, employers, insurance companies, and more. Are mandates
for doctors next? A. Barton Hinkle examines the erosion of
individual choice and responsibility in a system that is becoming
increasingly collectivized.

View this article.

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The Fight Against California's Electric Skateboard Ban

“The Fight Against California’s Electric Skateboard Ban” is the
latest video from Reason TV. Watch above or click on the link below
for video, full text, supporting links, downloadable versions, and
more Reason TV clips.

View this article.

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