Tidbits on June 23, 2009
My Pictorial Walk Down Lovers Lane
Bob Jensen

For a description of lupine fields along our road, go to http://www.photo.net/bboard/q-and-a-fetch-msg?msg_id=0027pL 

There is a fantastic spot in northern New Hampshire for wildflowers with mountains on the horizon (though not usually covered in snow at that time of the year). Go to Sugar Hill, NH in mid-June for the lupine festival. From about June 10th to 17th there are fields of lupines that bloom beneath the White Mountains. In Sugar Hill on Sunset Road there is a 12 acre field completely filled lupines that has Cannon Mountain and Mt. Washington in the background. These lupines come in shades of blue, purple, white and pink. The attached image was taken at sunrise in the lupine field on Sunset Road in Sugar Hill. The back roads around Sugar Hill contain a number of spots where there are large concentrations of lupines, some strategically located near red barns and white churches. This spot is not only great for grand landscape shots, but is also macro photography heaven, the dew drops and little insects on the lupines also make great subjects. But be careful, one morning at sunrise I was intently photographing the sunrise and moved towards a tree to include it in my shot. I startled a mother moose and calf who I did not realize were on the other side of the tree and they ran right in front of me. Of course having a 17-35mm lens on my camera with an ND grad and polarizing filter made it a little tough to get a good shot of the moose.

About 5 miles away is Franconia Notch state park where there are lots of nice waterfall opportunities, my favorites include The Basin, the Falling Waters Trail (Stair Falls and Cloudland Falls are both wonderful) and the Flume.

This area in early to mid-June can't be beat. To do grand landscape photography in New England requires a little more work than in the national parks out west, but Sugar Hill is one of the better locations in New England for the kind of photography you are interested in.

-- Ed McGuirk , April 06, 2002; 06:15 A.M. Eastern

Bob Jensen's Walk Down Lovers Lane
On June 16, 2009 I took a walk down a country road called Lovers Lane that begins at our Sugar Hill Community Church heading north. First I had to walk down Sunset Hill Road where I passed the The Sampler (gift barn and museum) owned by
Barbara Zarafini --- http://www.trinity.edu/rjensen/tidbits/2009/tidbits090303.htm

Barbara and her husband Joe live across the road in "The Cabin" that is surrounded by lupine fields. Joe mows walking paths through one of the fields so tourists can see the lupine up close.

 

About a half mile down from the Sampler is our Sugar Hill Community Church. The Cape Cod house next to the Church was once a guest house owned by the famous sportscaster Curt Gowdy --- http://en.wikipedia.org/wiki/Curt_Gowdy
After Gowdy died, the house was bought by Bud and Mary Weiler--- http://www.trinity.edu/rjensen/tidbits/2008/tidbits081111.htm
In front of the Gowdy-Weiler house is a rail fence covered with roses in bloom this time of year.

 

South from our Church is Sugar Hill's Main Street that contains some houses and only one store called Harmon's General Store and Cheese House --- http://www.trinity.edu/rjensen/tidbits/2009/tidbits090115.htm
Heading north from our church is the beginning of one of Sugar Hill's country roads called Lovers Lane. This "lane" passes through woods so dense that the trees form a canopy over the road. About a quarter mile down from the road is a huge red barn that most likely was a dairy barn at one time. Surrounding the barn are lush pastures now grazed upon by three Percheron draft horses --- two blacks and a gray that is so light-colored it looks white from a distance.

 

Across from these horses is a farm known as Hilltop Farm that has the traditional New Hampshire stone fences. Robert Frost, who once lived in a house down from where I live, once wrote "good fences make good neighbors." His house up here is now a museum and center for poetry readings --- http://www.trinity.edu/rjensen/tidbits/2007/tidbits070905.htm

The pictures below show the stone fences of the beautiful Hill Top Farm on Lovers Lane. At this point I encountered two of our pastor's ten children also taking a morning stroll on the Lane. Seven of the children moved here last year with their parents. They live beside the Gowdy-Weiler house in the former Foxglove Inn --- http://www.trinity.edu/rjensen/tidbits/2008/tidbits080916.htm

 

About a quarter mile up from the Hill Top Farm is what I call the Peckett Farm. In the early 1900s there were four luxury resorts in the Sugar Hill vicinity. My cottage now sits where the Sunset Hill House Hotel and Resort thrived in the early part of the 20th Century ---
http://www.trinity.edu/rjensen/tidbits/2007/tidbits070326.htm
Up from our cottage about a half mile was the smaller Lookoff Hotel and Resort. All of Sugar Hill's four luxury hotels were demolished in the latter part of the 20th Century as summer living/playing cultures evolved and the passenger railroads ceased to operate in remote parts of America.

About two miles from our cottage was the Peckett's-On-Sugar Hill Resort. Although a sign on Lovers Lane says the first ski school in the United states was at the Peckett's resort, I'm told it was really the second but better-known ski school. It was run by a well-known ski instructor from Austria --- http://www.nesm.org/page.php?cid=doc30

Near where the Peckett's hotel once stood is the following Lovers Lane barn with its sweeping views of fields and the mountains in the background. Both the Hill Top and Peckett farms are quiet as cemeteries these days except when tractors move in on occasion to cut hay. There are no longer crops or animals on these or most other Sugar Hill farms. There are woods and fields of lupines and other wild flowers.

 

Not far from the Peckett Farm is the Butternut Farm on Blake Road. Butternut at one time was owned by film star Bette Davis --- http://www.trinity.edu/rjensen/tidbits/2007/tidbits070801.htm
She and her mother Ruthie moved into the farm house. Soon afterward Bette bought a huge dairy barn in Vermont and had it carted in pieces across the mountains to her farm. She then reconstructed the barn into a magnificent home called Butternut Lodge. Butternut Lodge looks like a big old dairy barn. It's now a private residence and is not visible from a public road or walking trail.

Bette Davis married her Sugar Hill neighbor and Pecketts' Resort manager Arthur Farnsworth in 1940. In 1943 she was investigated and suspected but never charged with his mysterious death. After he died, she purportedly placed a bronze memorial plaque on the rock at the bottom of a mountain brook where Farnsworth "rescued her" in 1939 before they were married. This plaque still exists in the stream and can be viewed at http://www.trinity.edu/rjensen/tidbits/2007/tidbits070801.htm

At the intersection of Lovers Lane and Coffin Road is a house with a panoramic view of the Iris Farm down below (with silos). Unlike most farms around Sugar Hill, the Iris Farm is still a working farm with horses, sheep, chickens, and a herd of Scottish Cows. A portion of Lovers Lane borders on an Iris Farm field. Alongside the field are wild iris blooms shown below.

Lovers Lane begins at the Sugar Hill Community Church and ends at Highway 117. To the east about a half mile is the village of Franconia chartered in 1764 --- http://en.wikipedia.org/wiki/Franconia,_New_Hampshire
About a half mile to the west is Hildex Farm where you will find the legendary Polly's Pancake Parlor --- http://www.trinity.edu/rjensen/tidbits/2009/tidbits090105.htm

Having come to the end of Lovers Lane, however, I did not return home via the Hildex Farm or stop for pancakes. Instead I crossed over to Birches Road where I took more pictures along the two miles remaining before I returned to our cottage. The pictures from Birches Road will be shared with you in subsequent editions of Tidbits.

In this edition of Tidbits I wanted to share only some pictures that I took on June 16, 2009 on my walk down Lovers Lane.

 

It's been an exceptionally cold summer thus far in the White Mountains. It's been even worse suffering through global warming in the Arctic. Here's something you won't hear about on MSNBC or in The New York Times or from Al Gore's lips --- the "record late" summer in the Arctic.
It is the winter that refuses to go away in northern Manitoba and most of the eastern Arctic. Prolonged cold snowy conditions in the Hudson Bay area are expected to obliterate the breeding season for migratory birds and most other species of wildlife this year. . According to Environment Canada, the spring of 2009 is record-late in the eastern Arctic with virtually 100 per cent snow cover from James Bay north as of June 11
Robert Alison, "Big chill in Churchill Winter," Winnipeg Free Press, June 13, 2009 ---
http://www.winnipegfreepress.com/opinion/westview/big-chill-in-churchill-47992231.html 

 

 

Tidbits on June 23, 2009
Bob Jensen

For earlier editions of Tidbits go to http://www.trinity.edu/rjensen/TidbitsDirectory.htm
For earlier editions of New Bookmarks go to http://www.trinity.edu/rjensen/bookurl.htm 

Click here to search Bob Jensen's web site if you have key words to enter --- Search Site.
For example if you want to know what Jensen documents have the term "Enron" enter the phrase Jensen AND Enron. Another search engine that covers Trinity and other universities is at http://www.searchedu.com/.


Bob Jensen's past presentations and lectures --- http://www.trinity.edu/rjensen/resume.htm#Presentations   


Bob Jensen's Threads --- http://www.trinity.edu/rjensen/threads.htm

Bob Jensen's Home Page is at http://www.trinity.edu/rjensen/

CPA Examination --- http://en.wikipedia.org/wiki/Cpa_examination

Free Residential and Business Telephone Directory (you must listen to an opening advertisement) --- dial 800-FREE411 or 800-373-3411
 Free Online Telephone Directory --- http://snipurl.com/411directory       [www_public-records-now_com] 
 Free online 800 telephone numbers --- http://www.tollfree.att.net/tf.html
 Google Free Business Phone Directory --- 800-goog411
To find names addresses from listed phone numbers, go to www.google.com and read in the phone number without spaces, dashes, or parens
Bob Jensen's search helpers --- http://www.trinity.edu/rjensen/Searchh.htm

 

Bob Jensen's essay on the financial crisis bailout's aftermath and an alphabet soup of appendices can be found at
http://www.trinity.edu/rjensen/2008Bailout.htm

Free Online Textbooks, Videos, and Tutorials --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines --- http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
The Master List of Free Online College Courses ---
http://universitiesandcolleges.org/


On May 14, 2006 I retired from Trinity University after a long and wonderful career as an accounting professor in four universities. I was generously granted "Emeritus" status by the Trustees of Trinity University. My wife and I now live in a cottage in the White Mountains of New Hampshire --- http://www.trinity.edu/rjensen/NHcottage/NHcottage.htm

Bob Jensen's blogs and various threads on many topics --- http://www.trinity.edu/rjensen/threads.htm
       (Also scroll down to the table at http://www.trinity.edu/rjensen/ )

Global Incident Map --- http://www.globalincidentmap.com/home.php

If you want to help our badly injured troops, please check out
Valour-IT: Voice-Activated Laptops for Our Injured Troops  --- http://www.valour-it.blogspot.com/




Free Online Textbooks, Videos, and Tutorials --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines --- http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI




Online Video, Slide Shows, and Audio
In the past I've provided links to various types of music and video available free on the Web. 
I created a page that summarizes those various links --- http://www.trinity.edu/rjensen/music.htm

When a soldier comes home --- http://www.youtube.com/watch?v=sKdTUcZLSXw

Put $100 Million Budget Cut Into Perspective --- http://www.youtube.com/watch?v=cWt8hTayupE
Good Teaching Video (must watch to the end when the coin cutter is illustrated)

Terrible Ladder Accident (humor) --- http://www.youtube.com/watch?v=By8VJqhqy_0

Big Horn Sheep Attacks a Car --- http://www.youtube.com/watch?v=MPdLtRexwqw

Milk:  From Grass to Glass (not humor) --- http://www.youtube.com/watch?v=JJRy82i8e5Q&feature=email
One operation near Chicago provides enough milk for eight million people --- much more than is needed in the entire city of Chicago.
The methane gas from the manure provides all electric power needed in each barn.

How to peel hard boiled eggs (surprise ending) --- http://www.youtube.com/watch?v=PN2gYHJNT3Y
Jensen Comment: 
Don’t boil cold eggs. Let them sit in the pan for an hour before turning on the stove burner.

It's All Bull With Toyota (Humor) --- http://www.youtube.com/watch?v=3u70DwS2FMw

Kleptomania (old time humor) --- http://www.metacafe.com/watch/42943/johnny_carson_copper_clappers/

Apparently women are born this way --- http://www.youtube.com/watch?v=_z3aADRWX1U

Suryia and Roscoe ( Friends at First Sight) --- http://www.youtube.com/watch?v=P3SbjjMChqw
Just proves the beauty is in the eyes of the lonely

Video: Success Is A Continuous Journey (three minutes) --- http://www.simoleonsense.com/video-success-is-a-continuous-journey/

Creative Commons Videos --- http://creativecommons.org/
Creative Commons Directory --- http://wiki.creativecommons.org/Content_Curators

I have posted some videos of the Iranian uprising on my website and I would strongly urge you to watch them.
(Item 3 here:
www.tomgrossmedia.com/mideastdispatches/archives/001038.html ) They show the reality of Iran’s dictatorship, a reality that many international TV networks are refusing to show. Some of these videos are disturbing but I feel they need to be watched to understand the true nature of Iran’s regime and why it should never be allowed to acquire nuclear weapons. I have not included those which are too bloody to watch. To state the obvious, this is not some video game or Hollywood movie. These events really happened, and they happened last week, and the leader of the free world, Barack Obama, has been extraordinarily slow to criticize them.
Tom Gross as quoted in a recent email message from Naomi Ragen


Free music downloads --- http://www.trinity.edu/rjensen/music.htm

Video: Ti lascio una canzone - 'O sole mio: Trio Ginoble-Boschetto-Barone (what talent) ---
http://www.youtube.com/watch?v=FqUkUjeF4-c

12-Year Old Sings Ave Maria --- http://www.metacafe.com/watch/2176087/ave_maria_for_x_mas/

Cliburn Competition (Piano) Awards Two Gold Medals (listen to the two gold medal winners) ---
http://www.npr.org/templates/story/story.php?storyId=104883567

A Sampling of Stormy Classical Music --- http://www.npr.org/templates/story/story.php?storyId=4776354

Web outfits like Pandora, Foneshow, Stitcher, and Slacker broadcast portable and mobile content that makes Sirius look overpriced and stodgy ---
http://www.businessweek.com/technology/content/mar2009/tc20090327_877363.htm?link_position=link2

TheRadio (my favorite commercial-free online music site) --- http://www.theradio.com/
Slacker (my second-favorite commercial-free online music site) --- http://www.slacker.com/

Gerald Trites likes this international radio site --- http://www.e-radio.gr/
Songza:  Search for a song or band and play the selection --- http://songza.com/
Also try Jango --- http://www.jango.com/?r=342376581
Sometimes this old guy prefers the jukebox era (just let it play through) --- http://www.tropicalglen.com/
And I listen quite often to Soldiers Radio Live --- http://www.army.mil/fieldband/pages/listening/bandstand.html
Also note
U.S. Army Band recordings --- http://bands.army.mil/music/default.asp

Bob Jensen listens to music free online (and no commercials) --- http://www.slacker.com/ 


Photographs and Art

Pamukkale Slide Show (interesting) --- http://www.cs.trinity.edu/~rjensen/temp/Pamukkale.pps 

Art and Art History --- http://www.trinity.edu/mkearl/arthist.html

Victoria Falls Slide Show --- Click Here

Those wonderful '50s (great photographs)--- http://www.billsretroworld.com/RETROLIFE.HTM

Exciting Cruise Slide Show --- Click Here

Cute White House Dog ---
http://voices.washingtonpost.com/44/2009/06/19/white_house_dog_photographed_r.html?wprss=44

"The Top 10 Most Absurd Time Covers of The Past 40 Years:  Mr. Luce's mag does satanism, porn, crack, Pokemon, and more!" by Jeff Winkler and Radley Balko, Reason Magazine, June 10, 2009 --- http://www.reason.com/news/show/134038.html

Bob Jensen's threads on history, literature and art ---
http://www.trinity.edu/rjensen/Bookbob2.htm#History


Online Books, Poems, References, and Other Literature
In the past I've provided links to various types electronic literature available free on the Web. 
I created a page that summarizes those various links --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm

Karl Marx was a vehement racist and anti-Semite (yes, even though both his grandfathers were rabbis!) This particular quote is not an aberration but very typical of both his and Engel's thoughts.
Free Republic, June 14, 2009 ---
http://www.freerepublic.com/tag/news-forum/index?more=2271681 
Marx-Engels Correspondence, 1862 --- http://www.marxists.org/archive/marx/works/1862/letters/62_07_30a.htm

Free Book
Ten Great Economists:  From Marx to Keynes --- http://mises.org/books/tengreateconomists_schumpeter.pdf

Free Book (very creative)
The Cluetrain Manifesto: The End of Business as Usual --- http://www.cluetrain.com/book/introduction.html

Free Online Textbooks, Videos, and Tutorials --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines --- http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI




A Moslem Leader Appeals for Respect and Opportunity for All Women
He has embarrassed his hosts by likening America to terrorism and suggesting that Italy abolish all its political parties, but yesterday Colonel Muammar Gaddafi won praise from hundreds of leading Italian women by condemning the Arab and Muslim world for treating their sex “like pieces of furniture”. Addressing women drawn from politics, culture and the economy at the Auditorium concert hall, Colonel Gaddafi called for a “world female revolution”. Too often, he said, Muslim men treated women as “piece of furniture which you can change when you want, and no one will ask you why you have done it”. Colonel Gaddafi — who travels with a squad of female bodyguards dubbed The Amazons by the Italian press — is making his first visit to Libya’s former colonial power for 40 years. The formal gathering, at which the Libyan leader addressed the women audience from the stage, was organised by Mara Carfagna, the former topless model and TV host who was appointed Equal Opportunities Minister by Silvio Berlusconi, the Prime Minister, last year.
Richard Owen, The London Times, June 13, 2009 --- http://www.timesonline.co.uk/tol/news/world/europe/article6489604.ece

There are times, I must confess, when I consider our current culture and conclude that the Muslims are right about us. We are, as they insist, hedonistic, and far too many of us do have the morals of goats. We do rely on sex and violence for our entertainment. Our popular music is swinish. We are, by a wide margin, the world’s largest market for drugs, both of the legal and illegal variety. Our politicians are selfish, ignorant and, more often than not, at odds with the American ideals of the Founding Fathers.
Burt Prelutsky, "Obama, Mothers and Muslims, Townhall, June 15, 2009 ---
http://townhall.com/columnists/BurtPrelutsky/2009/06/15/obama,_mothers_and_muslims

The putrid comments by David Letterman about Sarah Palin and her daughter, and the dethronement of Carrie Prejean for the vice of honesty, bring home just have savagely civil life has been murdered by the Left. We no longer have a civil public life. It has been crushed between pinchers of enraged nihilism and fantasy causes.
Bruce Walker, "The Murder of Civil Life," American Thinker, June 15, 2009 --- http://www.americanthinker.com/2009/06/the_murder_of_civil_life.html
Jensen Comment
The murder of civil life has grown worse in the media, but at the same time it has become even more atrocious in Internet blogs. Fortunately, the most uncivil blogs still have a small readership relative to the network media (that is losing eyeballs in part because of degradation of broadcasting taste. bias, hurtful humor that is not funny and foul language). If a movie wins an Academy Award it's a signal to me to avoid the movie.

If truth does not matter, then the accumulation of truth which we call learning cannot matter either. Public education and academia is simply re-education. Children and college students are taught "facts" that round out political indoctrination. There was a time when education meant exposing growing minds to a universe of facts which supported conflicting opinions and grasping the thinking behind those opinions. The myth of the intolerant medieval university or old public school systems of America is evidence of just how little our modern totalitarians actually know: debate, controversy, cognition, and schools of thought were the norm, not the exception. The very term "schools of thought," no longer exists. In our murdered civil life, there is "the school of thought," surrounded by barbed wire.

Amusement too has died. In its place are spite, angst, degradation, imbecility, and madness dressed up as entertainment. Channel surfing, even when the surf is as long as the Pacific Coast, shows just how empty the once bright stage of entertainment has become. We loved Lucy, but not the untalented and unfunny women who came fifty years after her. Singers like Perry Como have been replaced by puerile, forgettable nebbishes. Once films like It's a Wonderful Life joined us into a common, happy heart, but now the vacuum we call "Hollywood" cannot produce anything better than bad remakes of old movies.

A Leading American on CBS and His MSNBC Friends Make an Exception for Activist Conservative Women
Surprise:  Feminists Take Sarah Palin's Side in Letterman Feud
If there was any question that a stubborn strain of old-school sexism persists in Obama's America, one has only to look at certain leaders of what the right wing loves to call the "liberal media" but which is sounding and acting, recently, more like the frat-house media. There, like a virus hiding in the body before, perhaps, staging a comeback, misogyny has found a place to lurk almost undetected, at least by the usually sharp eyes of progressive feminists. Examine the symptoms of this infection, beginning with David Letterman's comments....
Jill Stanek
, "Feminists Take Sarah Palin's Side in Letterman Feud," Opposing Views, June 14, 2009 ---
http://www.opposingviews.com/articles/opinion-feminists-take-sarah-palin-s-side-in-letterman-feud-r-1245015220 

National Organization for Women (NOW) places David Letterman in NOW's Hall of Shame
The sexualization of girls and women in the media is reaching new lows these days -- it is exploitative and has a negative effect on how all women and girls are perceived and how they view themselves. Letterman also joked about what he called Palin's "slutty flight attendant look" -- yet another example of how the media love to focus on a woman politician's appearance, especially as it relates to her sexual appeal to men. Someone of Letterman's stature, who appears on what used to be known as "the Tiffany Network" (CBS), should be above wallowing in the juvenile, sexist mud that other comedians and broadcasters seem to prefer. On that point, it's important to note that when Chelsea Clinton was 13 years old she was the target of numerous insults based on her appearance. Rush Limbaugh even referred to her as the "White House dog." NOW hopes that all the conservatives who are fired up about sexism in the media lately will join us in calling out sexism when it is directed at women who aren't professed conservatives.
National Organization for Women (NOW) places David Letterman on NOW's Hall of Shame, June 8, 2009  ---
http://www.now.org/issues/media/hall-of-shame/

Jensen Comment
On Page 20 of the June 22, 2009 edition of Newsweek Magazine, Newsweek editors contend that "winners don't take on comics." The logical conclusion is that Newsweek Magazine is calling the National Organization of Women losers along with the other feminists who've "took on" David Letterman.

NBC's Democratic Party subsidiaries MSNBC proclaimed that Letterman's sexist attack on Palin was in good fun and proceeded to attack Palin for making an issue out of all this. Both MSNBC and Newsweek have a major mission of forever preventing the GOP from ever again rising up from the ashes. CBS News anchor Katie Couric also belittled Governor Palin in an earlier commencement address at Princeton University.

Although I'm not a fan of Sarah Palin (she's history), the relentless and pathetic attacks on Governor Palin by Keith Olbermann, Chris Matthews, and David Letterman do nothing but turn viewers off to the bias of repeated old jokes and innuendos.
David Letterman's 2008 campaign video calling Palin a slut --- http://www.youtube.com/watch?v=2MvaXBlGg0o 
David Letterman's 2009 mean video calling Palin a slut --- Click Here
Good work David. Don't stop until you call the Governor the whore that she is according to MSNBC.
I can see her legs from my house in New Hampshire.

This is why I stopped watching David Letterman even before Jon Stewart came along: He was forever either drooling on women or treating them like they were perfect idiots, in a way he never behaved with male guests. (I did, however, enjoy the appearances of his mom Dorothy, a church secretary who was occasionally able to summon Good Dave, live from her kitchen in Indiana.) At age 62, he shouldn't need Dorothy to tell him that referring to Alaska Gov. Sarah Palin as having updated her "slutty flight attendant look'' is outrageous – and his "joke'' about Palin's daughter was even worse. During his Tuesday monologue, Letterman mentioned that last year's GOP vice presidential nominee was in New York, and had attended a Yankees game with her daughter. "During the seventh inning,'' he said, "her daughter was knocked up by Alex Rodriguez." Palin had taken her 14-year-old daughter Willow to the game. On Wednesday night, a semi-apologetic Letterman told viewers that Willow's older sister, 18-year-old Bristol Palin, had been the intended target of the remark: "We were, as we often do, making jokes about people in the news and we made some jokes about Sarah Palin and her daughter, the 18-year-old girl, who is -- her name is Bristol, that's right -- and so, then, now they're upset with me. These are not jokes made about her 14-year-old daughter. I would never, never make jokes about raping or having sex of any description with a 14-year-old girl. I mean, look at my record. It has never happened. I don't think it's funny. I would never think it was funny. I wouldn't put it in a joke." Which means he thinks rape jokes about an 18-year-old are funny?
Melinda Henneberger, "Letterman Owes Palin, Flight Attendants, Women in General an Apology," Politics Daily, June 11, 2009 --- Click Here

Will you teach your son to talk about women and girls the way you talk about Sarah Palin and her daughters? You called the married 45-year-old mother, grandmother and Alaska governor a "slutty flight attendant" on your national TV talk show because she happens to be a tall, beautiful and dynamic public figure who doesn't look, walk or talk the way you think she should. You joked on national television about Palin's teenage daughter "getting knocked up" by professional baseball player Alex Rodriguez or solicited by the prostitute-addicted former New York Attorney General Eliot Spitzer because it's acceptable in your social and professional circles to sneer at the children of politicians you despise. You admitted that your attacks on Palin's family were in "poor taste," but cackled while acknowledging your sophomoric judgment.
Michelle Malkin, "Dear David Letterman," Townhall, June 12, 2009 --- http://townhall.com/columnists/MichelleMalkin/2009/06/12/dear_david_letterman
June 10, 2009 show half-hearted apology --- http://www.youtube.com/watch?v=SbCzTNJgoxQ
June 11 barf --- http://lateshow.cbs.com/latenight/lateshow/video_player/index/php/988845.phtml
"Why did the press ignore the firebombing of Sarah Palin’s church?" --- Click Here

Fear of Rat Renewal:  Alaska Governor Bans Letterman from Island
Alaska's Rat Island is finally rat-free, 229 years after a Japanese shipwreck spilled rampaging rodents onto the remote Aleutian island, decimating the local bird population.
"Alaska's Rat Island rat-free after 229 years," Reuters, June 12, 2009 ---
http://news.yahoo.com/s/nm/20090612/lf_nm_life/us_alaska_rat

Flight Attendants Are Also Offended by Letterman
But also not amused are flight attendents. Were they offended by Letterman's slur? "Yes – and I'm speaking as a MALE flight attendant here," said Ken Kyle, president of the 1,200-member Denver chapter of the Association of Flight Attendants-CWA United Airlines. "We've fought the TV stereotype for so many years, and quite honestly, it's objectionable when you put it in light of (flight attendants' heroic actions during) 9/11 and more recently, the professionalism of the US Airways attendants during the emergency landing on the Hudson River." Jokes and sexual innuendos take a long-term toll, said Kyle."They desensitize the public to the very important safety role we fill. Sure, we are sensitive to any comment we believe demeans a job we feel is important, especially the safety aspect of it." They also hit attendants in the pocket book, he said. "We face a lot of pressures – from the public and from the corporate level -- and to minimize and devalue (our) job classification makes it much more difficult for us to fight for a pay raise." People don't think about that, in part because attendants do their jobs so well. "But I bet if you asked the passengers on the Hudson River flight, they would have voted to give attendants a raise."

Janet Battaile, "Also Not Amused by Letterman: Flight Attendants," Politics Daily, June 12, 2009 ---
http://www.politicsdaily.com/2009/06/12/also-not-amused-in-the-palin-dustup-flight-attendants/

Don Imus apologized. Mel Gibson apologized. So did Michael Richards and the Greaseman (didn't do much good). Politicians do it all the time. Shock jocks, actors and athletes do. Even Bill O'Reilly has done it. So why can't David Letterman bring himself to apologize? . . . "He doesn't have to apologize to me," she told host Matt Lauer on the "Today" show yesterday morning. "I would like to see him apologize to young women across the country for contributing to that kind of . . . that thread that is throughout our culture that makes it sound like it's okay to talk about young girls in that way, where it's kind of okay, accepted and funny to talk to about statutory rape. It's not cool, it's not funny." For good measure, Palin also got off a blast at the media for their "double standard" in shielding the children of President Obama ("the candidate who must be obeyed") from attention, but not her own.
Paul Farhi, "Letterman Sends No Regrets Should Host Apologize to Palin? Sorry, No Consensus," The Washington Post, June 13, 2009 --- http://www.washingtonpost.com/wp-dyn/content/article/2009/06/12/AR2009061203849.html

In December 2005 Oprah and Letterman officially, with great fanfare, buried the hatchet after feuding for16 years so don't expect Oprah to take on Letterman's sexist jokes --- http://www.msnbc.msn.com/id/10288393/
Her recently suffered a huge ratings slump --- http://www.freerepublic.com/focus/f-news/2270900/posts

David Letterman called Governor Palin a "slut." Be reasonable here. It could've been much worse. He might've called her ... er (can I put it in print?) ... "Ma'am." --- http://www.youtube.com/watch?v=pziILAi_Un8

Update on June 15, 2009:  A more sincere apology in the midst of the heat
"I understand, of course, why people are upset; I would be upset myself," Letterman said. "I’m sorry about it and I’ll try to do better in the future."
Watch the Video --- http://www.thrfeed.com/2009/06/letterman-readdresses-palin.html
"Sarah Palin Accepts David Letterman's Apology for 'Coarse' Jokes," Fox News, June 16, 2009 --- http://www.foxnews.com/story/0,2933,526525,00.html

Letterman Was Not Alone During the 2008 Presidential Campaign
ABC News cataloged a history, during the 2008 presidential campaign, of leading comedians' bad taste jokes about Palin's pregnant daughter --- http://abcnews.go.com/Entertainment/story?id=5719503&page=1
Jensen Question
The liberals won the presidency and buried Sarah Palin. Why do they keep beating up on Letterman's dead "slut?"

What always irritates me about Keith Olbermann on MSNBC is that his guests are virtually always from his own choir. Keith's scholarship is in baseball. He's very good at reading from scripts prepared by himself and MSNBC staff, but he's not scholarly enough to debate issues with scholars who take different sides on political and economic issues --- http://www.msnbc.msn.com/id/3036677/#31333379 

Keith Olbermann (MSNBC while interviewing a Palin-hating CNN liberal commentator) called Governor Palin "Sanctimonious, holier than thou, exploitative, undignified, pedantic, childish, self-inflicting, insipid, backwards, embarrassing, over-reactive, overreaching" as well as a "delusional lunatic."
Noel Sheppard, "Olbermann: Palin's a 'Delusional Lunatic', Letterman's 'The Victim'," Newsbusters, June 13, 2009 --- http://newsbusters.org/blogs/noel-sheppard/2009/06/13/olbermann-calls-palin-delusional-lunatic-letterman-victim

You just know it has to be killing the folks at CNN and MSNBC that Fox News has completely overwhelmed them in the ratings. In fact, the combined number of viewers of both of those networks still doesn't match that of Fox News. Could it be that the public is sick of the fawning coverage given to the Obama administration by most of the mainstream media and look to Fox News for providing more balanced stories? That is something that the MSM people just can't confess.
P.J. Gladnic, "CNN Co-founder: High Fox News Ratings Caused by Anger," June 7, 2009 ---
http://newsbusters.org/blogs/p-j-gladnick/2009/06/07/cnn-co-founder-high-fox-news-ratings-caused-anger

Jensen Comment
How would MSNBC explode if Fox News mentioned Michelle Obama's slutty (gasp sleeveless) dresses or innuendos about the sex life of her two daughters? Do you think MSNBC has double standards? MSNBC did not seem to object when jokes were made on NBC's Saturday Night Live about Presidential Candidate Palin's "incestuous" husband. But SNL never dared joking about Obama's family.
"NBC jokes: Todd Palin has sex with daughters 'Saturday Night Live' skit suggests Sarah's husband guilty of incest," WorldNetDaily, September 21, 2008 --- http://www.wnd.com/index.php?fa=PAGE.view&pageId=75852

Of course the liberal media (e.g., Keith Olbermann) rushed to the defense of David Letterman ---
http://www.msnbc.msn.com/id/3036677/#31275917
Olbermann never mentions the bad taste of calling Sarah Palin herself a slut. I guess that's good media reporting!

 

No doubt noticing the publicity  Letterman got for his vulgar comments about Sarah Palin’s teenage daughter, Keith Olbermann apparently decided to outdo the Late Show house when it comes to making vile comments about a woman. From this evening’s Countdown, addressing himself to Ann Coulter in the course of naming her his “Worser Person.”
KEITH OLBERMANN: Ann, to use the vulgarities of the gutter, you are a worthless
(contemplating a C-word) . . . Coulter.
"Olbermann Comes Close To Calling Coulter The C-word" ---
http://finkelblog.com/index.php/2009/06/11/olberman-toys-with-calling-coulter-the-c-word/

Barack Obama's controversial former pastor, the Rev. Jeremiah Wright, blamed "them Jews" in an interview this week for keeping him from speaking to the president, but later apologized for the comments. Wright, the former pastor of Chicago's Trinity United Church of Christ, said he hasn't spoken to Obama since he became president. "Them Jews ain't going to let him talk to me.
"Wright says 'Jews' keeping him from Obama" --- http://www.breitbart.com/article.php?id=D98OO9D80&show_article=1

Katie Couric should offer her older audience a free colonoscopy with every three news stories.
Jon Stewart --- http://www.thedailyshow.com/

Hypocrisy from one sentence to the next
Katie Couric’s speech to Class Day at Princeton was posted Monday on The Huffington Post. In her flailing attempts at humor, she mocked Rush Limbaugh, Donald Rumsfeld, Miss California, and Sarah Palin. And after all that, she counseled the students "don’t be a hater...you must really guard against the cynicism and nastiness that are so pervasive today, especially on the Internet." That’s certainly true when you count anchor snarkiness on The Huffington Post.
Tim Graham, "Couric Advises Against 'Nastiness' -- In Speech That Mocked Rush, Palin, Rumsfeld, and Miss California," Newsbusters, June 1, 2009 --- Click Here
Also read about her snarkiness and hypocrisy at http://www.cnsnews.com/public/content/article.aspx?RsrcID=49244

Question:  What happens to snarky news anchors?
Answer:  They sink like anchors!
CBS EVENING NEWS FALLS TO ALL-TIME LOW; 5,180,000 VIEWERS FOR COURIC --- http://www.freerepublic.com/focus/f-news/2268028/posts

Letterman and his staff of writers misunderstand the phrase – “Women and children first.”
"Top 10 Reasons to Snub David Letterman vanity." by Jack Engelhard ---
http://www.freerepublic.com/focus/f-news/2270589/posts 

10: He’s not funny.

9: His jokes are written by 20 frat boys who have an IQ of 180 – combined.

8. His audience gets in for free – and even that’s paying too much.

7. On his best day he’s no Johnny Carson. Carson would never stoop for a laugh.

6. Letterman’s reference to Sarah Palin as “slutty” was an insult to all women.

5. Letterman’s routine on Monday took up the Palin family’s visit to New York, which included a trip to the ball park. Here’s Letterman in his own words: “During the seventh inning, her [Palin’s] daughter was knocked-up by Alex Rodriguez.” Todd Palin, the father, responded like this: “Any jokes about raping my 14-year-old daughter are despicable.”

4. A perverted crack like that, by Letterman, got on national TV. (Try that on Obama’s daughters, Dave, and see how quickly you get booted.)

3. But a quip like that against a 14-year-old girl would most likely require registration as a sex offender in my neighborhood.

2. Letterman and his staff of writers misunderstand the phrase – “Women and children first.”

1. On the pretense of contrition, Letterman denied that he was a “celebrity.” Now we know what he isn’t – and we know what he is.




Dear NEWSWEEK (actual letter),
I never thought this kind of thing would happen to me. I was at the library making last-minute edits to The Dartmouth Review when Miss Shimock, the young librarian, walked up to my table wearing nothing but a copy of Atlas Shrugged. She made a strong case that it was in my rational self-interest to take off my pants...Wait, I think I'm writing this letter to the wrong magazine.

Stephen Colbert, Hanover, N.H. Sept. 18, 1984
You can read about Stephen Colbert at http://en.wikipedia.org/wiki/Stephen_Colbert
Some of his old and unpublished Letters to the Editor of Newsweek are published in the on Page 7 of the June 15, 2009 edition of Newsweek (where he also appears on the cover).
Stephen Colbert Lands in Iraq, Shares Big Laughs with Troops --- Click Here
He tones down his bury Bush partison routines.

"The big sweat:  Banking catastrophes and recession have led to vast increases in rich countries’ public debts. Getting their finances back into shape will be painful," The Economist, June 11, 2009 --- http://www.economist.com/finance/displaystory.cfm?story_id=13825211

The 2008-2009 Economic Downfall
Great Graphic:  Infographic: Anatomy of the Crash
http://www.simoleonsense.com/infographic-anatomy-of-the-crash/
Bob Jensen's threads on the downfall --- http://www.trinity.edu/rjensen/2008Bailout.htm 

Those macroeconomists, who study the broad economy—don't have a blessed clue
If the economy improves and unemployment drops, Obama can take credit. If it fails to improve and unemployment rises, though, he can say he averted an even worse showing. Republicans will take the opposite tack—attributing any improvement to the natural resilience of the economy and blaming the administration if things get worse. And neither side will really know who's right. I have long been a believer in the value of economics in understanding the world. But the chief effect of the current crisis is to raise the possibility that economists—at least those macroeconomists, who study the broad economy—don't have a blessed clue.
Steve Chapman, "Baffled by the Economy:  Why being a macroeconomist means never having to say you're sorry," Reason Magazine, June 11, 2009 --- http://www.reason.com/news/show/134059.html
Bob Jensen's threads on the bailout are at http://www.trinity.edu/rjensen/2008Bailout.htm

A growing concern for Fed policy makers is a weakening in the US dollar against major currencies. The price of the euro in US-dollar terms climbed from a low of $1.27 in November last year to around $1.41 in May and $1.43 in early June — an increase of 12.6% from November. The major currencies dollar index fell to 78.89 in May from 82.3 in April — a fall of 4.1%. If the declining trend in the US dollar were to consolidate, this could cause foreign holders of US-dollar assets to divest into non-dollar-denominated assets and precious metals.
Frank Shostak, "The Fed Might Have Painted Itself into a Corner," Mises Institute, June 12, 2009 ---
http://mises.org/story/3518

Brazil, Russia, India and China, (the BRICs) sometimes lumped together as BRIC to represent fast-growing developing economies, are selling off their U.S. Treasury Bond holdings. Russia announced earlier this month it will sell U.S. Treasury Bonds, while China and Brazil have announced plans to cut the amount of U.S. Treasury Bonds in their foreign currency reserves and buy bonds issued by the International Monetary Fund instead. The BRICs are also soliciting public support for a "super currency" capable of replacing what they see as the ailing U.S. dollar. The four countries account for 22 percent of the global economy, and their defection could deal a severe blow to the greenback. If the BRICs sell their U.S. Treasury Bond holdings, the price will drop and yields rise, and that could prompt the central banks of other countries to start selling their holdings to avoid losses too. A sell-off on a grand scale could trigger a collapse in the value of the dollar, ending the appeal of both dollars and bonds as safe-haven assets. The moves are a challenge to the power of the dollar in international financial markets. Goldman Sachs economist Alberto Ramos in an interview with Bloomberg News on Thursday said the decision by the BRICs to buy IMF bonds should not be seen simply as a desire to diversify their foreign currency portfolios but as a show of muscle.
"BRICs Launch Assault on Dollar's Global Status," The Chosun IIbo, June 14, 2009 ---
http://english.chosun.com/site/data/html_dir/2009/06/12/2009061200855.html

Their report, "Dreaming with BRICs: The Path to 2050," predicted that within 40 years, the economies of Brazil, Russia, India and China - the BRICs - would be larger than the US, Germany, Japan, Britain, France and Italy combined. China would overtake the US as the world's largest economy and India would be third, outpacing all other industrialised nations. 
"Out of the shadows," Sydney Morning Herald, February 5, 2005 --- http://www.smh.com.au/text/articles/2005/02/04/1107476799248.html 

The first economist, an early  Nobel Prize Winning economist, to raise the alarm of entitlements in my head was Milton Friedman.  He has written extensively about the lurking dangers of entitlements.  I highly recommend his fantastic "Free to Choose" series of PBS videos where his "Welfare of Entitlements" warning becomes his principle concern for the future of the Untied States 25 years ago --- http://www.ideachannel.com/FreeToChoose.htm 

Our legislators did not heed his early warnings, and now we are no longer "free to choose."

IOUSA (the most frightening movie in American history) --- (see a 30-minute version of the documentary at www.iousathemovie.com ).

 

Stocks are still the best investment for the long run. But maybe not for your long run.
Justin Fox, "Are Stocks Still Good for the Long Run?" Time Magazine, June 15, 2009 --- http://www.time.com/time/magazine/article/0,9171,1902843-2,00.html
Also see Jim Mahar's June 10, 2009 summary at http://financeprofessorblog.blogspot.com/
In particular this references a study by Arnott that asserts that over the past 40 years the stock market underperformed the bond market. In my opinion, if you into bonds for the next 40 years they'd better be inflation-indexed bonds such as Treasury TIPs.
Bob Jensen's threads on the Efficient Markets Hypothesis --- http://www.trinity.edu/rjensen/theory01.htm#EMH

In his quest to have all the U.S. media in his choir, President Obama has taken on Fox Network
The Fox Network is not his problem
The Biggest Obama Hurdle is Silencing the Congressional Budget Office

The most potent threat to the Obama administration’s fledgling health may come not from the insurance industry or skeptical doctors but from the Congressional Budget Office. Earlier this week, CBO released preliminary estimates suggesting that the health care proposals — the most ambitious currently under discussion — from the Senate Health, Education, Labor and Pensions Committee would cost $1 trillion
(actually $1.6 trillion) and trim the number of uninsured by only 16 million.
Julian E. Zelizer (professor of history and public affairs at Princeton University) as quoted by P.J. Gladnick, Newsbusters, June 19, 2009 ---
http://newsbusters.org/blogs/p-j-gladnick/2009/06/19/politico-writer-health-care-advice-obama-ignore-cbo
Jensen Comment
The Congressional Budget Office refuses to accept hyped and phony political promises of cost savings resulting from spending $1.6 trillion dollars on the pending legislation. The non-partisan CBO just is not buying phony promises of cost savings.

Voting for universal health care is one thing, but voting for it based upon trillions more in debt and false promises is quite another. President Obama should build a supportive base based upon truthful estimates of bringing health insurance to 47 million uninsured Americans. What he’s advocating is a gobbled up mess of private and public health insurance that will be inefficient and little more than extended Medicaid for 47 million uninsured while private insurance companies still requiring mountains of paperwork for working Americans.

The best approach, in my viewpoint, at a critical juncture when it only takes 51 votes in the Senate, is to pass legislation for National Health Care somewhat similar to that in Canada and also pass the Canadian way of paying for it (about 50% of the income tax for average taxpayers). This business of borrowing trillions upon trillions to be dumped on future generations is insane and will lead to economic disaster.

We may have to double taxes paid by average workers and even charge slightly more taxes from poor workers now paying zero income taxes, but at least the U.S. economy might survive the shock.

EGADs! Pending Collapse of the Overspending U.S. Economy to Be Financed With Hot Air
President Barack Obama on Tuesday proposed budget rules that would allow Congress to borrow tens of billions of dollars and put the nation deeper in debt to jump-start the administration's emerging health care overhaul. The "pay-as-you-go" budget formula plan is significantly weaker than a proposal Obama issued with little fanfare last month. It would carve out about $2.5 trillion worth of exemptions for Obama's priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits. Obama's latest proposal for addressing deficits urges Congress to pass a law requiring lawmakers to pay for new spending programs and tax cuts without further adding to exploding deficits projected to total about $10 trillion over the next decade.
Andrew Taylor, "Obama: It's OK to borrow to pay for health care:  Obama-proposed budget rules allow deficits to swell to pay for health care plan," Yahoo News, June 8, 2009 ---
http://finance.yahoo.com/news/Obama-Its-OK-to-borrow-to-pay-apf-15483626.html?.v=13
Jensen Comment
The frightening part of this is that the added $10 trillion to National Debt does not include the entitlements obligations of Obama's Universal Health Plan. That will add up to another $100 trillion to the current $100 trillion in entitlements obligations.

America, what is happening to you?
“One thing seems probable to me,” said Peer Steinbrück, the German finance minister, in September 2008....“the United States will lose its status as the superpower of the global financial system.” You don’t have to strain too hard to see the financial crisis as the death knell for a debt-ridden, overconsuming, and underproducing American empire.
Richard Florida, "How the Crash Will Reshape America," The Atlantic, March 2009 ---
http://www.theatlantic.com/doc/200903/meltdown-geography

President Obama's deficit spending playbook is straight out of Alice in Wonderland. The King says"
"Begin at the beginning and go on till you come to the end: then stop."
Put $100 Million Budget Cut Into Perspective --- http://www.youtube.com/watch?v=cWt8hTayupE

America, what is happening to you?
“One thing seems probable to me,” said Peer Steinbrück, the German finance minister, in September 2008....“the United States will lose its status as the superpower of the global financial system.” You don’t have to strain too hard to see the financial crisis as the death knell for a debt-ridden, overconsuming, and underproducing American empire . . .
Richard Florida, "How the Crash Will Reshape America," The Atlantic, March 2009 ---
http://www.theatlantic.com/doc/200903/meltdown-geography

Bernanke is insanely printing hundreds of millions of dollars that do not arise from taxes or borrowing
We remember that 2003 debate because it turns out we played a part in it. The Fed recently released the transcripts of its 2003 FOMC meetings, and what a surprise to find a Journal editorial the subject of an insider rebuttal from none other than Ben Bernanke, then a Fed Governor and now Chairman. We had run an editorial on monetary policy on the same day as the Dec. 9, 2003 FOMC meeting, and Mr. Bernanke clearly didn't take well to our warning about "Speed Demons at the Fed."We reprint nearby both Mr. Bernanke's comments and our editorial from that day. Readers can judge who got the better of the argument, but far more important is what Mr. Bernanke's reasoning tells us about the Fed today. Our guess is that it won't reassure holders of dollar assets
"Bernanke at the Creation: What the Fed Chairman said at the onset of the credit bubble, and the lesson for today," The Wall Street Journal, June 23, 2009 --- http://online.wsj.com/article/SB124572415681540109.html

Failed Banks List as of June 22, 2009 (including 2008 failures) --- http://www.cnbc.com/id/31049457

The Moneyball Movie Gets Scrapped (sorry Brad Pitt) ---
http://www.businessinsider.com/the-moneyball-movie-gets-scrapped-2009-6
It's really sad that the script suddenly veered from the excellent book by Michael Lewis.

Why not build those new GM factories in Flint and Detroit?
Dozens of US cities may have entire neighbourhoods bulldozed as part of drastic "shrink to survive" proposals being considered by the Obama administration to tackle economic decline. The government looking at expanding a pioneering scheme in Flint, one of the poorest US cities, which involves razing entire districts and returning the land to nature. Local politicians believe the city must contract by as much as 40 per cent, concentrating the dwindling population and local services into a more viable area.
Tom Leonard, "US cities may have to be bulldozed in order to survive," U.K. Telegraph, June 12, 2009 --- Click Here

Sens. Dianne Feinstein and Susan Collins quickly trade a bad idea for a worse one, while trading auto lobbyists for environmental ones ("Handouts for Hummers," op-ed, June 11). Bribing consumers to buy more fuel-efficient cars only encourages more driving, undermining consumption savings, and leaving taxpayers to foot the bill. If anything, consumption in Texas and California has relentlessly increased, driven by cheap gas and commuters rationally choosing to live farther and drive farther and more frequently.
Felix Yu,"'Cash for Clunkers' Bill Deserves Road Kill Status," The Wall Street Journal, June 13, 2009 --- Click Here

Oh Sheeet!
A GERMAN town will become the first in the world to be powered by animal waste when it launches a biogas network this year. Lunen, north of Dortmund, will use cow and horse manure and other organic material from farms to provide cheap and sustainable electricity for its 90,000 residents. Biogas is already used around the world - it will power buses in Oslo from September - but Lunen claims to be the only town to build a dedicated biogas network. Materials will be fed into heated tanks, where natural fermentation will break them down into methane and carbon dioxide. This biogas can then be burned to generate electricity and heat in a combined heat and power plant (CHP) before the heat is distributed through a new biogas pipeline, which is being built underground. The plant can produce 6.8 megawatts, enough to power and heat 26,000 houses. Peter Kindt, the director of Alfagy, which distributes CHP plants, said the Lunen network was capable of providing 30 per cent to 40 per cent of the town's heat and electricity needs. The benefits of biogas are clear, said Mr Kindt "This sustainable technology allows local production of local power, reducing reliance on fossil fuels and fuel imports."
"Waste not, want not - town first to use poo power," Sydney Morning Herald, May 30, 2009 --- Click Here
Jensen Question
Why can't we turn the tons of Washington DC bull crap into something useful?

Generating electricity out of farm animal manure is controversial. The tradition of spreading manure back to the soil adds many vital nutrients to that soil. Depriving the soil of manure requires that these nutrients be replaced with petrochemicals which, in turn, are generated from oil that German's are trying to cut back on by using manure to generate electricity.

Senators Protect Their ASSets
Senators who oversee the $700 billion Wall Street rescue package held stocks in many of the banks bailed out towards the end of last year, according to financial disclosure reports released Friday. According to the reports detailing senators’ finances in 2008, nearly half of the members of the Senate Banking Committee had holdings in financial institutions that have taken funds from the Troubled Asset Relief Program (TARP).
Reid Wilson and Kevin Bogardus, "Senators held stock in bailed-out banks," The Hill, June 12, 2009 ---
http://thehill.com/leading-the-news/senators-held-stock-in-bailed-out-banks-2009-06-12.html

As California teeters on the brink of a financial meltdown, big interest groups led by public employee unions are complicating the picture, with chances slim of near-term reform. Little gets done in state and local politics across California without the involvement of unions for teachers, nurses, firefighters and state employees. "The Democratic state party is really just an extension of the unions," said Tony Quinn, co-editor of the California Target Book, a non-partisan analysis of the state legislature and Congressional elections. "The unions now control the legislature and they helped bring about the situation in which we simply spend more money than we take in because of the union pensions, the welfare programs they support and because the teachers union wants more money spent on teachers' salaries and education," he said.
Dan Whitcomb, "Loosening unions' grip may be key for California," Reuters, June 12, 2009 ---
http://www.reuters.com/article/domesticNews/idUSTRE55B5U120090612

 

"The 'Paygo' Coverup:  The Obama pattern: Spend, repent, spend again, repent," The Wall Street Journal, June 11, 2009 --- http://online.wsj.com/article/SB124467627264104053.html

Some things in politics you can't make up, such as President Obama's re-re-endorsement Tuesday of "pay-as-you-go" budgeting. Coming after $787 billion in nonstimulating stimulus, a $410 billion omnibus to wrap up fiscal 2009, a $3.5 trillion 2010 budget proposal, sundry bailouts and a 13-figure health-care spending expansion still to come, this latest vow of fiscal chastity is like Donald Trump denouncing self-promotion.

Check that. Even The Donald would find this one too much to sell.

But Mr. Obama must think the press and public are dumb enough to buy it, because there he was Tuesday re-selling the same "paygo" promises that Democrats roll out every election. Paygo is "very simple," the President claimed. "Congress can only spend a dollar if it saves a dollar elsewhere."

That's what Democrats also promised in 2006, with Nancy Pelosi vowing that "the first thing" House Democrats would do if they took Congress was reimpose paygo rules that "Republicans had let lapse." By 2008, Speaker Pelosi had let those rules lapse no fewer than 12 times, to make way for $400 billion in deficit spending. Mr. Obama repeated the paygo pledge during his 2008 campaign, and instead we have witnessed the greatest peacetime spending binge in U.S. history. As a share of GDP, spending will hit an astonishing 28.5% in fiscal 2009, with the deficit hitting 13% and projected to stay at 4% to 5% for years to come.

The truth is that paygo is the kind of budget gimmick that gives gimmickry a bad name. As Mr. Obama knows but won't tell voters, paygo only applies to new or expanded entitlement programs, not to existing programs such as Medicare, this year growing at a 9.2% annual rate. Nor does paygo apply to discretionary spending, set to hit $1.4 trillion in fiscal 2010, or 40% of the budget.

This loophole matters, because on the very day Mr. Obama was hailing paygo the House Appropriations Committee was gleefully approving a 12% increase in 2010 nondefense discretionary spending, the third year running that Democrats have proposed double-digit increases. Or consider that the 2010 budget resolution included a $2 billion increase for low-income heating assistance as an entitlement change that should be subject to paygo. But Congressional Democrats simply classified it as discretionary spending, thereby avoiding the need for $2 billion in cuts elsewhere. C'est-la-paygo.

Mr. Obama's new proposal includes even more loopholes. There's an exception for Congress's annual alternative-minimum tax "patch," which is worth at least $576 billion over 10 years; for any of the Bush tax cuts that Mr. Obama decides he wants to extend past 2010; and to protect against planned cuts in Medicare doctor payments. These carve-outs alone spare Democrats from having to come up with some $2.5 trillion in spending cuts or new taxes. To add insult to profligacy, the rules also allow the Administration to run huge early deficits for its looming health-care bonanza, and only pay for it later -- say, after 2012.

The President also revived the myth that paygo was somehow responsible for eliminating budget deficits during the Clinton years. In fact, that brief era of balanced budgets was due to: mid-decade spending reductions by a GOP Congress elected on a balanced-budget pledge; an excessive cut in defense spending to 3% from 5% of GOP across the decade; and an unsustainable revenue boom due to the dot-com bubble. But harking back to the 1990s lets Mr. Obama avoid having to defend his own spending record.

The real game here is that the President is trying to give Democrats in Congress political cover for the health-care blowout and tax-increase votes that he knows are coming. The polls are showing that Mr. Obama's spending plans are far less popular than the President himself, and Democrats in swing districts are getting nervous. The paygo ruse gives Blue Dog Democrats cover to say they voted for "fiscal discipline," even as they vote to pass the greatest entitlement expansion in modern history. The Blue Dogs always play this double game.

The other goal of this new paygo campaign is to make it easier to raise taxes in 2011, and impossible to cut taxes for years after that. In the near term, paygo gives Mr. Obama another excuse to let the Bush tax cuts he dislikes expire after 2010, while exempting those (for lower-income voters) that he likes. In the longer term, if a GOP Congress or President ever want to cut taxes, paygo applies a straitjacket that pits those tax cuts against, say, spending cuts in Medicare. The Reagan tax reductions would never have happened under paygo.

The main political question now is when Americans will start to figure out Mr. Obama's pattern of spend, repent and repeat. The President is still sailing along on his charm and the fact that Americans are cheering for an economic recovery. But eventually they'll see that he isn't telling them the truth, and when they do, the very Blue Dogs he's trying to protect will pay the price. And they'll deserve what they get.

Is the U.S. Dollar About to Plunge in a Crash?
"Face-Off: The Dollar’s Doldrums." Newsweek Magazine, June 22, 2009 --- http://www.newsweek.com/id/201975  

Last fall, the dollar surged as the world turned to U.S. Treasuries as a safe haven. But its recent decline has some wondering: is the dollar headed for a crash?

Peter Schiff :  Absolutely!
"At some point, the world will want out of the U.S. economy, and the dollar will rapidly lose value. The bailouts and stimulus have only worsened our problems. We can't afford our huge government because we don't produce enough, so we spend borrowed money. We're sealing the fate of our currency by printing it into oblivion."

Brad Setser:  Not so fast.!
"Whenever a country runs a large trade deficit for a long period of time, there's some risk for a disorderly correction. But there are two things mitigating that risk: the trade deficit has come down signif- icantly, and our savings rate has gone up. If sustained, together they reduce the risk of a crash and the needed adjustment is smaller."

Our (Newweek's) Verdict
The potential for a crash depends on what happens abroad, as the dollar's value is relative to that of other currencies. As long as the U.S. doesn't get left behind in a global recovery, the dollar will be fine.

Schiff is president of Euro Pacific Capital and author of Crash Proof.
Setser is a fellow for Geoeconomics at the Council on Foreign Relations.

Jensen Comment
Since Newsweek Magazine is owned by NBC, Newsweek would never take a position that made President Obama's policies look bad. To do otherwise might not keep the GOP buried beneath its 2008 ashes. No other nation is entering into trillion-dollar deficits for the next 10 years. I side with Peter Schiff 100%, although the timing of the dollar's crash is very unpredictable. Peter Schiff correctly predicted (and publically warned the public) well in advance that there would be a subprime mortgage crisis and an economic collapse. But the funds he manages did not make excess profits on these correct predictions due largely to the fact that he predicted treasury yields would soar and the dollar would crash long before major events transpired (if they do indeed transpire). It's one thing to correctly predict economic happenings and quite another to predict their timings.


One of the Most Enlightening Debates I've Ever Watched
Video of Peter Schiff Making Accurate Predictions in 2007
---
http://www.youtube.com/watch?v=2I0QN-FYkpw
He makes Art Laffer and Ben Stein look like they should’ve instead been limited to making commercials with Shaq. Keep in mind that at the time Bush was still President of the United States, although the Democrats had the majorities in the House and Senate.

I find the above video to be incredible in making us lose your faith in “financial experts.”

Is this global warming?
Our politicians haven't noticed that the problem may be that the world is not warming but cooling, observes Christopher Booker. In Manitoba last week, it was -4ºC. North Dakota had its first June snow for 60 years. a veteran US grain expert said last week: "In 43 years I've never seen anything like the decline (crop yield) we're looking at in South America."
Christopher Booker,
"Crops under stress as temperatures fall ," London Telegraph, June 13, 2009 ---
http://www.telegraph.co.uk/comment/columnists/christopherbooker/5525933/Crops-under-stress-as-temperatures-fall.html
Jensen Comment
It has been a markedly cool spring and summer here in the White Mountains of New Hampshire.


We hang the petty thieves and appoint the great ones to public office.
Aesop

Congress is our only native criminal class.
Mark Twain --- http://en.wikipedia.org/wiki/Mark_Twain

"Dodd's Irish Luck:  The Senator Sure Knows How to Pick an Investment," The Wall Street Journal, June 20, 2009 --- http://online.wsj.com/article/SB124545642440632999.html

Irish property prices have plummeted since 2002. But a "cottage" in County Galway owned by Conn, ecticut Senator Chris Dodd has tripled in value during the same period, according to a financial disclosure form filed by the Senator this month.

There are two possible explanations for this remarkable turn of fortune. Maybe Mr. Dodd is luckier than a leprechaun. Or could it be that he paid well below the market price when he bought out a co-owner in 2002 and had undervalued the property accordingly? If it's the latter, then Mr. Dodd received a "gift," in IRS parlance, and should have declared it on his financial disclosure form that year. He did not. Oh, and by the way, the seller at that low, low price has been the business partner of a man for whom Mr. Dodd lobbied to receive a Presidential pardon.

It's also been nearly a year since a former loan officer at Countrywide Financial charged that the mortgage lender had classified Mr. Dodd as a "very important person" (a.k.a., a "friend of Angelo" Mozilo, Countrywide's then-CEO). As such, Robert Feinberg said, Mr. Dodd received -- and knew he'd received -- preferential rates and fees on two mortgages he and his wife refinanced in 2003. As a power on the Senate Banking Committee, he also knew this was a conflict of interest. This was the era when Countrywide originated and then sold to Fannie Mae high volumes of subprime loans.

The SEC charged Mr. Mozilo with fraud and insider trading earlier this month, and the Los Angeles Times reported in May that there is an FBI investigation which "includes a probe of [Countrywide's] role in an influence-peddling scandal involving" Mr. Dodd. The Senate Ethics Committee won't comment on its own investigation of almost a year.

Mr. Dodd denies receiving any special treatment, and nearly a year ago he promised to release the Countrywide mortgage documents and clear up the matter. We are still waiting, though he did attempt to placate the Connecticut press with a peek-a-boo release of a few select documents and a review by his own lawyers in February.

Now the Irish cottage on 10 scenic acres is bringing more trouble. At the start of the Irish real estate boom in 1994, Mr. Dodd bought the property with William Kessinger for $160,000. Mr. Kessinger has been a business partner of Edward Downe, who is a longtime friend of Mr. Dodd's. In 1986 Messrs. Dodd and Downe owned a condominium together in Washington. In 1993 Mr. Downe pleaded guilty to insider trading and securities fraud and in 2001, as Bill Clinton was preparing to leave the White House, Mr. Dodd successfully lobbied to get his friend a pardon.

The following year, 2002, Mr. Dodd bought out Mr. Kessinger's two-thirds share in the house and became the full owner. Mr. Dodd reported to the Irish government that he paid Mr. Kessinger $122,351, and Mr. Dodd says that a bank appraisal that same year valued the property at $190,000. From 2002 to 2007 Mr. Dodd reported its worth at between $100,001 and $250,000 on his annual Senate financial disclosure form.

But Hartford Courant columnist Kevin Rennie began digging this year into the mismatch between what Mr. Dodd paid to Mr. Downe's business partner to become a full owner and what the property in Ireland was likely worth in 2002 amid the Irish land boom. Last week, when Mr. Dodd filed his annual financial disclosure form, it included a new appraisal from the same appraiser putting the current value of the house at $658,000.

In an effort to explain the gain despite the fact that the Irish housing market has since gone south, a spokesman for the Senator said that "The value of the cottage, or of Irish real estate generally, isn't something that the Dodds have thought much about." However, according to Galway County records, Mr. Dodd was so uninterested in the value of those 10 acres that he tried to subdivide the property in 1998 and put up another house. No doubt because he had no idea what it was, or would be, worth.

The Senate's financial disclosure forms are supposed to be a tool of honest government, and former Senator Ted Stevens was indicted for allegedly false disclosures. Mr. Dodd's miraculous property reappraisal is further grist for Senate and Justice investigators -- and especially for voters in 2010.

Sen. Chris Dodd, the dubious Democrat from the Nutmeg State, told a recent interviewer that it was "offensive" that the media would suggest that his wife, Jackie Clegg Dodd, has potential conflicts of interest because she sits on the boards of four pharmaceutical firms. With Sen. Ted Kennedy ailing, Dodd is the Democratic point man for upcoming health-care legislation. Of course, this is the 21st century. Spouses of powerful pols have their own -- often quite successful -- careers. Of course, everybody knows that Mrs. Dodd received no special consideration because of her powerful spouse -- because Sen. Dodd says so.
"Chris Dodd's Other Problem," The Washington Post, June 22, 2009 ---
http://www.nypost.com/seven/06222009/postopinion/editorials/chris_dodds_other_problem_175421.htm

Bob Jensen's on how the most criminal class writes the laws are at http://www.trinity.edu/rjensen/FraudRotten.htm#Lawmakers


Leave your heart in San Francisco, but not your illegal immigrant
But over the last year, buffeted by several high-profile crimes by illegal immigrants and revelations of mismanagement of the city’s sanctuary policy, San Francisco has become less like its self-image and more like many other cities in the United States: deeply conflicted over how to cope with the fallout of illegal immigration. At the center of the turnaround is a new law enforcement policy focused on under-age offenders who are in this country illegally. Under the policy, minors brought to juvenile hall on felony charges are questioned about their immigration status. And if they are suspected of being here illegally, they are reported to the Immigration and Customs Enforcement agency for deportation, regardless of whether they are eventually convicted of a crime. “We went from being one of the more progressive counties in the country to probably one of the least, and the most draconian,” said Abigail Trillin, the managing attorney with Legal Services for Children, a nonprofit legal group. “It’s been a total turnaround.”
Jesse McKinley, "San Francisco at Crossroads Over Immigration," The New York Times, June 12, 2009 --- http://www.nytimes.com/2009/06/13/us/13sanctuary.html?_r=1&hp

The UK has about 50,000 family doctors, but nearly 280,000 professionally qualified accountants (pdf), often earning exorbitant salaries. That is almost the highest number per capita in the world and more than the rest of the European Union put together. Unsurprisingly, nearly 165,000 students are registered with the UK accountancy trade associations to become professional accountants. In addition, probably more than 100,000 are studying for accounting and business degrees at UK universities and colleges, dwarfing the numbers studying engineering, mathematics and sciences. A record number of graduates are making a career in accounting.
Prem Sikka, "A nation of accountants: The growing industry has aided corruption, fraud and unethical governance. Why does the state help it audit society at a profit?" The Guardian, June 13, 2009 --- Click Here

"Sixty Years After 1984:  Does Orwell's dystopian classic still matter?" Cathy Young, Reason Magazine, June 11, 2009 --- http://www.reason.com/news/show/134074.html

This week marks the 60th anniversary of perhaps the most famous book of the 20th Century: George Orwell's 1984. It is a book that changed our language, giving us such words and phrases as "thought police," "newspeak," "doublethink," and "Big Brother"—not to mention "Orwellian." But what is the relevancy of Orwell's disturbing novel today? Is it a warning about future horrors that may come if we fail to guard our freedom? Does it talk about things that are already present in our lives?

Orwell, the British journalist and writer, penned his book in 1948 as a commentary on Soviet totalitarianism, a very present danger at the time. His dystopia was in many ways an even darker version of Stalin's Soviet Union, with a godlike leader, a ruling party that enforces the state's ideology, and an omnipresent secret police. Yet Orwell was a socialist, a man of the left whose polemic was directed in large part at the pro-Soviet delusions of his fellow leftists. Since then, both left and right have tried to appropriate Orwell's vision and claim it as their own.

The most recent such appropriation comes from the right. The Competitive Enterprise Institute, which opposes increased regulation, used the anniversary to put out a press release arguing that "the crusade for global governance led by environmental activist groups in the name of combating global warming" represents a 1984-style threat to personal freedom today. The CEI has released a video clip based on the famous 1984-themed Apple Computer ad in which Al Gore appears as Big Brother lecturing a zombie-like captive audience in gray uniforms on the perils of global warming.

Whatever one may think of climate change, such imagery and rhetoric runs the risk of trivializing the evil of true totalitarianism—and discrediting one's own argument, except in the eyes of those who need no convincing. Al Gore is not planning to establish secret dungeons where people will be horribly tortured until they see the error of their ways, any more than George W. Bush—a frequent target of accusations of Orwellian malfeasance—was planning to brainwash the unpatriotic into submission.

Orwell's concern was not with a democratic government's excessive regulatory powers, or excessive national security powers (in the Cold War years, he himself shared a list of communist sympathizers and possible Soviet spies with an intelligence agency in the British Foreign Office). It certainly wasn't with the ability of corporations to track customers' buying habits, which some privacy advocates have likened to Big Brother's watchful eye.

Continued in article

Candidate Obama Promised No New Taxes on the Middle Class:  The Joke's on Yew in the Form of Higher Prices
An annual report issued by the Competitive Enterprise Institute (CEI) shows that the U.S. government imposed $1.17 trillion in new regulatory costs in 2008. That almost equals the $1.2 trillion generated by individual income taxes, and amounts to $3,849 for every American citizen. According the 2009 edition of Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State, the government issued 3,830 new rules last year, and The Federal Register, where such rules are listed, ballooned to a record 79,435 pages. “The costs of federal regulations too often exceed the benefits, yet these regulations receive little official scrutiny from Congress,” said CEI Vice President Clyde Wayne Crews, Jr., who wrote the report. “The U.S. economy lost value in 2008 for the first time since 1990,” Crews said. “Meanwhile, our federal government imposed a $1.17 trillion ‘hidden tax’ on Americans beyond the $3 trillion officially budgeted” through the regulations.
Adam Brickley, "Government Implemented Thousands of New Regulations Costing $1.17 Trillion in 2008," CNS News, June 12, 2009 --- http://www.cnsnews.com/public/content/article.aspx?RsrcID=49487

From The Wall Street Journal Accounting Weekly Review on June 18, 2009

Historic Overhaul of Finance Rules
by Damian Paletta
The Wall Street Journal

Jun 18, 2009
Click here to view the full article on WSJ.com

TOPICS: Banking, Bankruptcy, Collateralized Debt Obligations, Disclosure, Disclosure Requirements, Financial Reporting, Hedge Funds, Investment Banking, Regulation, SEC, Securities and Exchange Commission, Securitization, Treasury Department

SUMMARY: "Obama urged policy makers to rewrite the rules governing U.S. finance, unveiling proposals that would affect nearly every aspect of banking and markets." The Wall Street Journal's "Condensed Version" (see related article) makes clear that the Federal Reserve Board will see an increase in power in expanding its regulatory oversight to "all U.S. financial firms that meet 'certain minimum size thresholds'....[covering both] parent companies and all subsidiaries, including unregulated units and those based overseas." The intent is for at least one governmental unit to have a perspective on the safety of the overall financial system, including international implications, as opposed to a focus on individual banks and other entities. The SEC's role is retained, though it no longer has supervisory authority over Wall Street investment banks, and its registration and data collection authority is expanded to cover hedge funds, private-equity funds and venture-capital funds. The online version of this article contains links to documents associated with the reforms after the stock market crash of 1929, including articles discussing the formation of the Securities and Exchange Commission in 1934.

CLASSROOM APPLICATION: The articles introduce the new financial regulatory regime and help condense complex points for students. Questions focus on the section of the white paper, "Financial Regulatory Reform: A New Foundation" that covers establishment of comprehensive regulation of financial markets.

QUESTIONS: 
1. (Introductory) Who has proposed this "sweeping overhaul of the financial regulatory system"? How will change stemming from this proposal move forward?

2. (Introductory) Access the links to documents associated with the reforms after the stock market crash of 1929 available through the online version of this article. What are some parallels to the momentous change that occurred then? What are some differences in today's situation?

3. (Advanced) WSJ articles published when the SEC was established in 1934 expressed concerns about stymied economic growth from "meddling" by government regulators. How do those concerns compare to some expressed today? Be specific in describing at least two individual opinions and naming the holders of those positions.

4. (Introductory) Access the reform proposal document, Financial Regulatory Reform: A New Foundation, issued by the Treasury Dept. and available at http://online.wsj.com/public/resources/documents/finregfinal06172009.pdf Focus on the introduction and the component related to establishing "comprehensive regulation of financial markets." What is "securitization"? What roles do credit rating agencies have in that process?

5. (Advanced) What problems arose in the financial crisis with the work of credit rating agencies and financial firms' reliance on credit ratings?

6. (Advanced) Summarize the accounting requirements for securitization transactions.

7. (Advanced) The regulatory proposal recommends requiring loan originators to retain a significant economic interest in the credit risk associated with securitized items. Do you think that will change the accounting for these transactions? Explain.

8. (Introductory) Another recommendation is that "the SEC should continue its efforts to increase the transparency and standardization of securitization markets and be given clear authority to require robust reporting by issuers of asset backed securities (ABS)." What disclosures are recommended under this section 3 heading? Given what you know about the current process, how will these new disclosure requirements be established?

Reviewed By: Judy Beckman, University of Rhode Island

RELATED ARTICLES: 
Obama's Financial Reform Plan: The Condensed Version
by Susan Davis and Reporters of the WSJ Washington Bureau
Jun 18, 2009
Online Exclusive

 




The West fooled itself Iran would allow reform
Officially put at 85%, voter turnout was the highest in Iran’s history. Ahmadinejad won with 63%, collecting more votes than any of his predecessors. The results were arranged to give him a two-thirds majority among all categories of voters – men, women, young and old, poor and middle class, and in all of Iran’s 30 provinces. Whoever wrote the script also made sure that his three rivals, all veterans of the Khomeinist revolution, were roundly defeated even in their respective home towns.
Amir Taheri , "The West fooled itself Iran would allow reform," The London Times, June 14, 2009 ---
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article6493541.ece


Wafa Sultan's Reaction to President Obama's Speech to the Moslem World While in Egypt

Before reading this you should read about the courageous Dr. Wafa Sultan at http://en.wikipedia.org/wiki/Wafa_Sultan
This speech was forwarded by Naomi Ragen on June 13, 2009

Who Should We Believe?

After President Obama's Cairo speech, many of my Middle Eastern Arab readers reacted with bewilderment. As one of them expressed; "Who should we believe, Obama or you?" in particular his statement that "America and Islam overlap and share common principles, the principles of justice, tolerance and dignity for human beings".

True, reading the Arab press's reaction to his speech it is clear that many Muslims now love Obama. After all, he introduced to them a narrative that affirms their conspiracy theories and their identity as victims of the West. Hence, the Arab media expressed their confidence that the speech will provide a "new stance towards Islam and the Muslims, after centuries of aggression and hostility." (Al Ahram - Egypt- MEMRI) More than anything, I am reminded of a story by Nizar Qubbani, the famous Syrian poet. His young son was a physician and suffered from an acute heart problem. When Nizar asked his son about his heart condition, the son drew a red heart. Being a poet, the father interpreted the drawing as a sign of a vibrant and healthy heart and took great comfort in believing this to be a sign of recovery. After his son's passing, Nizar wrote a poem describing his feelings as a heartbroken father. He felt unbearably saddened as he realized he had misinterpreted the drawing. Obviously, the son's sketch of a red heart was meant to convey no hope for his profusely bleeding heart, while the father's understanding of the symbol as a hopeful one was wrong.

The poet and the physician perceived reality in totally different ways; similar to the dichotomy between President Obama's view of the Islamic world and mine. The truth is, however, that only one reality exists.

Mr. Obama is a politician, and a very astute one. However, his speech revealed that his view is unduly influenced by naïve desire. His perception of Islam and the reality of Islam need to be synchronized. I am a physician and a realist who has lived and experienced the effect of my Arab culture and Islamic religion since childhood. The president pandered to Muslims: praised their accomplishments, commiserated with their grievances, and apologized for injustices done to them by centuries of colonialism -- without once mentioning the history of rampant and violent Arab colonialism. He avoided any mention of Jihadi tenets, or of the Islamic political ideology of supremacy over non Muslims -- principles embedded in Sharia law. These are taught and sanctioned openly by Al-Azhar, the university that hosted him, the foremost center of Sharia studies. Obama underscored the supposed American mistreatment of terrorists and apologized for torture in Guantanamo, forgetting that Islamic regimes are brutal to their own people. The president also repudiated significant U.S. contributions in both the lives of its soldiers and humanitarian aid to Muslims across the globe made throughout history -- despite Muslim attacks against America and Americans. In short, parts of his speech sounded like a new Pan-Arab messiah come to usher the Arab world back into its rightful world dominion. Most disturbing was the president's call to defend Muslims against negative stereotypes. A dangerous precedent is set when freedom of speech is silenced and ideological criticism forbidden. This, again, is the stuff of nightmarish totalitarian regimes. The beauty of the US Constitution is its balance, and the wisdom it embraces by distinguishing between that which should be protected and defended and that which should be prosecuted and decried. Encouraging laws to make criticism of Islam an offense punishable by law is troubling.

Since arriving in the US, I have enjoyed the freedom to educate my Arab brothers and sisters in the Middle East, who yearn for real freedom - and I have seen successes. Mr. Obama calls these very successes into question rather than championing freedom.

As the president embarks on his new task to defend Muslims "against negative stereotypes," does this mean he will somehow interfere and undermine that message? Or, perhaps it means he may join with the Organization of Islamic Conference, the 57 Muslim countries that work relentlessly to promote a United Nations resolution to suppress voices of dissent against Islam? I am confident we would all come to regret this.

Obama sidesteps the acute state of affairs in the Islamic world with flattery, failing to encourage accountability for rhetoric, practices and the behavior that feed stereotypes. I did not hear an exhortation to the Islamic world to open itself to diversity, to accept women as equal citizens with the same rights and protection under law as men. I did not hear a challenge to the Muslim world to accept other religions and their ability to practice openly within the Islamic world -- where the practice of Christianity, Judaism and other religions could cost an individual his or her life. I did not hear a call to erase for all time, Dhimmi racism -- the Sharia law-based dictate that Christians and Jews are inferior and should be suppressed. Are these "…the principles of justice, tolerance and dignity for human beings"?

In contrast, I see my people's heart bleeding and know the pressing need for self-correction and honest examination for the sake of urgent repair. Obama dangles the carrot but shies away from the imperative issues boiling beneath the surface. Obama's reality makes my work and that of others who speak up against intolerant Islamic doctrines more challenging. He undermines this mission by placating abusive, xenophobic policies and enabling those within the Islamic world to subjugate others, to coerce others to its beliefs, and to continue these pursuits with his blessing.

The president failed to join freedom-loving individuals, liberated Arabs like myself. He failed to lead the Muslim world into modernization and vital reform. Rather than calling out, "The house is on fire." Obama smiles and tells us how beautiful the house is as it burns out of control and threatens to destroy us. To the question I received on my e-mail; "Who should we believe, Obama or you?" I elaborated to my Moroccan reader that Obama is a politician who wishes to use sweet talk and to whitewash reality to make amends with Muslims.

I, on the other hand am a pragmatic Arab woman who escaped the prison of Islam to the free world and now devotes her life to expressing views freely and pressing for a genuine difference in Islam. We cannot have it both ways. Intolerance never tolerates freedom.

Wafa Sultan

Jensen Comment
Be all that as it may in the reactions to Obama's outreach to the Moslem world, it appears that Israel's latest and unrealistic conditions for peace essentially doom the possibilities for peace in the Middle East.
"Palestinians: Netanyahu is 'sabotaging' peace efforts," Haartz, June 14, 2009 --- http://www.haaretz.com/hasen/spages/1092713.html
"PA: Netanyahu has buried peace process," Jerusalem Post, June 14, 2009 ---
http://www.jpost.com/servlet/Satellite?cid=1244371096340&pagename=JPost%2FJPArticle%2FShowFull




President Obama affirmed before the American Medical Association on May 15, 2005 that he adamantly refuses to save money in his Universal Health Plan by curtailing medical malpractice lawsuits and multi-million awards to tort lawyers. Remember that he's a lawyer whose election to office depended heavily on financial support from the plaintiff's bar.

President Obama's team would like to copy a lot of things out of Canada's National Health Plan, but curtailment of malpractice claims won't be one of them. Nor will capping the awards given to the lawyers who chase ambulances.

"Why 98% Of Canadian Medical Malpractice Victims Never Receive A Penny In Compensation," by John McKiggan, Ezine Articles, --- Click Here 

Are Canadian Medical Malpractice Claims Different Than in the U. S.?

In a word; yes.

Lot's of people have read about large jury awards for personal injury claims in the United States. Sometimes the American jury awards seem to be out of proportion to the injury.

In Canada, court awards are much lower than awards for similar injuries from courts in the United States. Cases that might be successful in the U.S. are simply not economically feasible to pursue in Canada.

For example, the province of Nova Scotia also has some of the most conservative (lowest) awards in Canada for compensation for personal injury claims.

Role of the C.M.P.A.:

In Canada, most doctors are defended by a single organization, the Canadian Medical Protection Association (the C.M.P.A.).

According to a recent annual report, the C.M.P.A. has two point nine (2.9) BILLION DOLLARS in assets (money in the bank). The C.M.P.A. is able to use this money to hire the best experts and lawyers money can buy.

Many victims of serious medical errors cannot work, or have huge expenses for ongoing rehabilitation or medical care.

Against such overwhelming financial odds, Canadian victims of medical malpractice face an almost insurmountable challenge to obtain justice and fair compensation for their injuries.

Remember the Canadian Medical Association Journal study that determined that over 87,000 patients in Canada suffer an adverse event and as many as 24,000 people die each year due to medical errors? That's more than 100,000 potential malpractice claims in Canada every year!

But between 2002 and 2006 the C.M.P.A. reports only 5246 lawsuits were filed against doctors in Canada: only about a 1000 claims per year.

In other words, out of 100,000 potential claims 99% of potential medical malpractice victims never even filed a claim!

The C.M.P.A. reports it's success rate in defending claims brought against doctors. More than 3800 of the 5000 claims were dismissed or abandoned because the victim or his or her family quit or ran out of money, or died before trial.

Continued in article

Jensen Comment
The liberal media keeps running modules on how wonderful Canada's National Health Plan is in terms efficiency and care. What has not been mentioned once, however, is that half of the average Canadian's tax dollar is spent on health care. If Americans had to carve out half of every tax dollar for health insurance there would be riots in the streets.

In fairness, Canadians can better afford taxes for health care. One reason is that Canadians live under the umbrella of the U.S. military and have no need to devote as much tax revenue to pay for national defense. A second reason is that Canada is rich in export resources, particularly oil and gas. Canada does not have to support the trade deficits that are killing the United States. Also Canada's long border is with the U.S. and, accordingly, Canada has much less problem supporting millions of illegal border-crossing  immigrants with health care, law enforcement, housing, education, etc. There are benefits in the U.S. from the illegal immigrant labor force, but the the total costs far exceed the benefits of having millions of these poor people straining social services, including medical care.

Gulp! Retired Canadians are not drinking to this loss in pension benefits
"Molson retirees losing their free beer to cry in Pensioners protest as their allotment of 864 brews a year will be cut to nothing," by Andrew Chung, The Star, June 9, 2009 --- http://www.thestar.com/news/canada/article/647664 

If you sang that well-worn campfire song about the beer bottles on the wall, you'd have to start at 864.

That's the annual complimentary beer allotment for retirees from the Molson brewery in St. John's, Nfld., the same amount of free suds they received while still working.

But, without consulting them, Molson has decided to shut the tap.

Come Jan. 1, the allotment will be a dozen bottles a month, down from six dozen a month (or 72 dozen a year), and in five years, it will be zero. For current workers, who also get 72 dozen bottles a year, the allotment will drop to 52 dozen. No five-year cut-off is planned.

Retirees held a protest outside the brewery last Friday. They've demanded a meeting with top company officials and will get one within the next two weeks.

In Vancouver and Montreal, where the allotment is less than in St. John's, the unions have launched grievances. Vancouver's case goes to arbitration June 16.

"There was no consultation, we just received a letter that this is a done deal, which is totally unfair," said Bill Bavis, who retired six years ago after 32 years at Molson's in St. John's. "I think with the economic downturn they're trying to take advantage of us, as a way to cut retirees' benefits and justify it."

Molson says it is "standardizing" its complimentary beer policy, which was originally intended not only as a perk but also to allow workers to share their beer, thereby helping to market it.

"This was a decision made by management after reviewing a number of cost-cutting measures," said Molson vice-president Ferg Devins. "We strongly feel the benefits package for our employees and retirees is still very generous."

Continued in article

"How Safeway Is Cutting Health-Care Costs," by Steven A. Burd, The Wall Street Journal, June 12, 2009 ---
http://online.wsj.com/article/SB124476804026308603.html


Forwarded by Team Carper

A Japanese company (Toyota) and an American company (Ford Motors) decided to have a canoe race on the Missouri River. Both teams practiced long and hard to reach their peak performance before the race.

On the big day, the Japanese won by a mile.

The Americans, very discouraged and depressed, decided to investigate the reason for the crushing defeat. A management team made up of senior management was formed to investigate and recommend appropriate action.

Their conclusion was the Japanese had 8 people rowing and 1 person steering, while the American team had 7 people steering and 2 people rowing.

Feeling a deeper study was in order, American management hired a consulting company and paid them a large amount of money for a second opinion.

They advised, of course, that too many people were steering the boat, while not enough people were rowing.

Not sure of how to utilize that information, but wanting to prevent another loss to the Japanese, the rowing team's management structure was totally reorganized to 4 steering supervisors, 2 area steering superintendents and 1 assistant superintendent steering manager.

They also implemented a new performance system that would give the 2 people rowing the boat greater incentive to work harder. It was called the 'Rowing Team Quality First Program,' with meetings, dinners and free pens for the rowers. There was discussion of getting new paddles, canoes and other equipment, extra vacation days for practices and bonuses. The pension program was trimmed to 'equal the competition' and some of the resultant savings were channeled into morale-boosting programs and teamwork posters.

The next year the Japanese won by two miles.

Humiliated, the American management laid off one rower, halted development of a new canoe, sold all the paddles, and canceled all capital investments for new equipment. The money saved was distributed to the Senior Executives as bonuses.

The next year, try as he might, the lone designated rower was unable to even finish the race (having no paddles,) so he was laid off for unacceptable performance, all canoe equipment was sold and the next year's racing team was out-sourced to India.

Sadly, the End.

Here's something else to think about: Ford has spent the last thirty years moving all its factories out of the US, claiming they can't make money paying American wages.

TOYOTA has spent the last thirty years building more than a dozen plants inside the US.

The last quarter's results: TOYOTA makes 4 billion in profits , while Ford racked up 9 billion in losses.

Ford folks are still scratching their heads, and collecting bonuses... and stand next in line for a 'bail-out'...




Airbus: Made In China
The first Chinese-assembled A320 is set for delivery, symbolizing the importance of future demand in Asia. PARIS -- Will emerging markets make or break the aerospace industry? Though the airline industry is suffering across the world, executives from Boeing and Airbus talked up the prospect of future demand from China as one bright spot at this month’s Paris Air Show. And on Tuesday, Airbus will deliver its first China-assembled A320, part of a joint venture that could help the plane-maker take more market share from its American arch-rival.
Lionel Laurent, Forbes, June 22, 2009 --- Click Here


Instead of adding more regulating agencies, I think we should simply make the FBI tougher on crime and the IRS tougher on cheats

Our Main Financial Regulating Agency:  The SEC Screw Everybody Commission
One of the biggest regulation failures in history is the way the SEC failed to seriously investigate Bernie Madoff's fund even after being warned by Wall Street experts across six years before Bernie himself disclosed that he was running a $65 billion Ponzi fund.

CBS Sixty Minutes on June 14, 2009 ran a rerun that is devastatingly critical of the SEC. If you’ve not seen it, it may still be available for free (for a short time only) at http://www.cbsnews.com/video/watch/?id=5088137n&tag=contentMain;cbsCarousel
The title of the video is “The Man Who Would Be King.”
Also see http://www.fraud-magazine.com/FeatureArticle.aspx

Between 2002 and 2008 Harry Markopolos repeatedly told (with indisputable proof) the Securities and Exchange Commission that Bernie Madoff's investment fund was a fraud. Markopolos was ignored and, as a result, investors lost more and more billions of dollars. Steve Kroft reports.

Markoplos makes the SEC look truly incompetent or outright conspiratorial in fraud.

I'm really surprised that the SEC survived after Chris Cox messed it up so many things so badly.

As Far as Regulations Go

An annual report issued by the Competitive Enterprise Institute (CEI) shows that the U.S. government imposed $1.17 trillion in new regulatory costs in 2008. That almost equals the $1.2 trillion generated by individual income taxes, and amounts to $3,849 for every American citizen. According the 2009 edition of Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State, the government issued 3,830 new rules last year, and The Federal Register, where such rules are listed, ballooned to a record 79,435 pages. “The costs of federal regulations too often exceed the benefits, yet these regulations receive little official scrutiny from Congress,” said CEI Vice President Clyde Wayne Crews, Jr., who wrote the report. “The U.S. economy lost value in 2008 for the first time since 1990,” Crews said. “Meanwhile, our federal government imposed a $1.17 trillion ‘hidden tax’ on Americans beyond the $3 trillion officially budgeted” through the regulations.
 Adam Brickley, "Government Implemented Thousands of New Regulations Costing $1.17 Trillion in 2008," CNS News, June 12, 2009 ---
http://www.cnsnews.com/public/content/article.aspx?RsrcID=49487

Jensen Comment
I’m a long-time believer that industries being regulated end up controlling the regulating agencies. The records of Alan Greenspan (FED) and the SEC from Arthur Levitt to Chris Cox do absolutely nothing to change my belief ---
http://www.trinity.edu/rjensen/FraudRotten.htm

How do industries leverage the regulatory agencies?
The primary control mechanism is to have high paying jobs waiting in industry for regulators who play ball while they are still employed by the government. It happens time and time again in the FPC, EPA, FDA, FAA, FTC, SEC, etc. Because so many people work for the FBI and IRS, it's a little harder for industry to manage those bureaucrats. Also the FBI and the IRS tend to focus on the worst of the worst offenders whereas other agencies often deal with top management of the largest companies in America.


Goldman to make record bonus payout
Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms. A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm.
"Goldman to make record bonus payout:  Surviving banks accused of undermining stability," The Guardian, June 21, 2009 --- http://www.guardian.co.uk/business/2009/jun/21/goldman-sachs-bonus-payments

Bob Jensen's threads on outrageous executive compensation schemes ---
http://www.trinity.edu/rjensen/FraudConclusion.htm#OutrageousCompensation


How to blow a whistle!

June 14, 2009 message from XXXXX

Mr. Jensen:

  I know you are retired so I hope this email is not an imposition.

 I have been dealing with an accounting fraud for years. Can’t get SEC or PCAOB to act.  Do you have any suggestions?  I do have a Civil RICO filed but it like fighting city hall.  The defendants have all the money.

 Regards,

XXXXX

June 18, 2009 reply from Bob Jensen

Hi XXXXX

This is a tough question that comes to me quite often. Much depends upon the nature of the crime or other fraud when you are trying to whistleblow a fraud.

A white collar crime blog edited by some law professors --- http://lawprofessors.typepad.com/whitecollarcrime_blog/ 

How to report cybercrime (including Internet crime) --- http://www.usdoj.gov/criminal/cybercrime/

One link is to a listing of where you can file Internet complaints ---
http://www.consumerwebwatch.org/consumer-center.cfm

Organizations and government agencies featured in this section are listed alphabetically.

Better Business Bureau Online
The Better Business Bureau Online, the electronic arm of the Better Business Bureau, offers consumers the opportunity to file a complaint against e-commerce sites as well as offline businesses. The Better Business Bureau was founded in 1912 and seeks to create a more fair marketplace through consumer education and voluntary self-regulation on the part of companies.
http://www.bbbonline.org/consumer/complaint.asp

Consumer Sentinel
Consumer Sentinel is a complaint database designed to provide law enforcement agencies with information on Internet cons, telemarketing scams and other consumer fraud-related complaints. The database, which is maintained by the Federal Trade Commission, is available to 40 federal law enforcement organizations, more than 200 state and local fraud-fighting agencies, and every state attorney general in the United States. You may register a complaint here.
http://www.consumer.gov/sentinel/index.html

econsumer.gov
This international site, launched by a coalition of 13 nations, registers cross-border e-commerce complaints and offers tips for safe shopping online. It utilizes the Consumer Sentinel's network of Internet fraud complaint data and shares it in several languages with consumer protection law enforcers in countries that belong to the International Marketing Supervision Network.
http://www.econsumer.gov

Internet Fraud Complaint Center
The Internet Fraud Complaint Center enables consumers to log online fraud complaints. The center is the result of a partnership between the FBI and the National White Collar Crime Center (NW3C), a nationwide support network for enforcement agencies involved in the prevention, investigation, and prosecution of economic and high-tech crime. NW3C is funded through a grant from the Bureau of Justice Assistance, Office of Justice Programs, and the U.S. Department of Justice.
http://www1.ifccfbi.gov/index.asp

National Fraud Information Center
The National Fraud Information Center (NFIC) was established in 1992 by the National Consumers League and continues to be funded by the organization. NFIC offers an online form for consumers who are interested in registering an Internet fraud complaint.
http://www.fraud.org/

State Attorneys General
Contact your state attorney general if you feel you have been a victim of consumer fraud on the Web. Consult individual state sites for telephone or electronic contact information for filing complaints. U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission offers tips on avoiding Internet fraud when investing, and a mechanism to register Internet fraud or spam complaints for investigation.
http://www.naag.org/ag/full_ag_table.php

U.S. Securities and Exchange Commission
The U.S. Securities and Exchange Commission offers tips on avoiding Internet fraud when investing, and a mechanism to register Internet fraud or spam complaints for investigation.
http://www.sec.gov/complaint.shtml

Corporate Fraud Reporting

§  Bob Jensen's Links http://www.trinity.edu/rjensen/FraudReporting.htm 

§  FBI Corporate Fraud Hotline (Toll Free) 888-622-0177
FBI  http://www.fbi.gov/

§  Commodity Futures Trading Commission   http://www.sec.gov/answers/cftc.htm

§  Defense Criminal Investigative Service  http://www.dodig.osd.mil/INV/DCIS/

§  Department of Labor  http://www.dol.gov/

§  Federal Energy Regulatory Commission  http://www.ferc.gov/

§  Internal Revenue Service  http://www.irs.gov/

§  National Association of Securities Dealers  http://www.nasd.com/

§  Postal Inspection Service  http://www.usps.com/postalinspectors/

§  Securities and Exchange Commission  http://www.sec.gov/

If the SEC ignored the Bernie Madoff $65 billion Ponzi fraud for six years, you probably cannot expect much from the SEC.

My threads on crime and fraud reporting are at
http://www.trinity.edu/rjensen/FraudReporting.htm#ThingsToKnow


On a net basis, the total number of hedge funds declined by 1,471 in 2008, leaving 9,284 funds that were still in business. In the last quarter of 2008, a record number of 778 funds liquidated. Many of the remaining hedge funds imposed new restrictions on how much money could be withdrawn over designated time intervals such as a month or a year.
Hedge Fund Research Inc. --- Click Here
http://www.bizjournals.com/gen/company.html?gcode=9E154A9ABD034B20BA640186F1E41F65&market=philadelphia

Question
What are hedge funds, especially after Bernie Madoff made them so famous?

When people ask me this question, my initial response is that a hedge fund no longer necessarily has anything to do with financial risk hedging. Rather a hedge fund is merely a "private" investment "club" that does not offer shares to the general public largely because it would then subject itself to more SEC, stock exchange, and other regulators. Having said this, it's pretty darn easy for anybody with sufficient funds to get into such a "private" club. Minimum investments range from $10,000 to $1,000,000 or higher.

Since Bernie Madoff made hedge funds so famous, the public tends to think that a hedge fund is dangerous, fraudulent, and a back street operation that does not play be the rules. Certainly hedge funds emerged in part to avoid being regulated. Sometimes they are risky due to high leverage, but some funds skillfully hedge to manage risk and are much safer than mutual funds. For example, some hedge funds have shrewd hedging strategies to control risk in interest rate and/or foreign currency trading.

Most hedge funds are not fraudulent. In general, however, it's "buyer beware" for hedge fund investors.

I would never invest in a hedge fund that is not audited by a very reliable CPA auditing firm. Not all CPA auditing firms are reliable (Bernie Madoff proved you can engage a fraudulent auditor operating out of a one-room office). Hence, the first step in evaluating a hedge fund is to investigate its auditor. The first step in evaluating an auditor is to determine if the auditing firm is wealthy enough to be a serious third party in law suits if the hedge fund goes belly up.

But the recent multimillion losses of Carnegie Mellon, the University of Pittsburgh, and other university endowment funds that invested in a verry fraudulent hedge fund purportedly audited by Deloitte suggests that the size and reputation of the auditing firm is not, by itself, sufficient protection against a criminal hedge fund (that was supposedly given a clean opinion by Deloitte in financial reports circulated to the victims of the fraud) ---
http://www.trinity.edu/rjensen/fraud001.htm#Deloitte

When learning about hedge funds, you may want to begin at http://en.wikipedia.org/wiki/Hedge_Fund

"What is a hedge fund and how is it different from a mutual fund?" by Andy Samuels, Business and Finance 101 Examiner, June 10, 2009 --- Click Here
Jim Mahar pointed out this link.

Having migrated away from their namesake, hedge funds no longer  focus primarily on “hedging” (attempting to reduce risk) because hedge funds are now focused almost blindly on one thing: returns.

Having been referred to as “mutual funds for the super rich” by investopedia.com, hedge funds are very similar to mutual funds in that they pool money together from many investors. Hedge funds, like mutual funds, are also managed by a financial professionals, but differ because they are geared toward wealthier individuals.

Hedge funds, unlike mutual funds, employ a wider array of ivesting techniques, which are considered more aggresive. For example, hedge funds often use leverage to amplify their returns (or losses if things go wrong).

The other key difference between hedge funds and mutual funds is the amount of regulation involved. Hedge funds are relatively unregulated because investors in hedge funds are assumed to be more sophisticated investors, who can both afford and understand the potential losses. In fact, U.S. laws require that the majority of investors in the fund are accredited.

Most hedge funds draw in investors because of the trustworthy reputations of the executives of the fund. Word-of-mouth praise and affiliations are often the key to success. Bernie Madoff succeed in luring customers based on two leading factors:  (1) His esteemed reputation on Wall Street and (2) His highly regarded connections in the Jewish community where he drew in most of his victims.

A Bit of History
German Chancellor's Call for Global Regulations to Curb Hedge Funds
Germany and the United States are parting company again, this time over Chancellor Gerhard Schröder's call for international regulations to govern hedge funds. Treasury Secretary John W. Snow, speaking here Thursday at the end of a five-country European tour, said the United States opposed "heavy-handed" curbs on markets. He said that he was not familiar with the German proposals, but left little doubt about how Washington would react. "I think we ought to be very careful about heavy-handed regulation of markets because it stymies financial innovation," Mr. Snow said after a news conference here to sum up his visit. Noting that the Securities and Exchange Commission has proposed that hedge funds be required to register themselves, he said he preferred the "light touch rather than the heavy regulatory burden."
Mark Landler, "U.S. Balks at German Chancellor's Call for Global Regulations to Curb Hedge Funds," The New York Times, June 17, 2005 --- http://www.nytimes.com/2005/06/17/business/worldbusiness/17hedge.html?

An investing balloon that will one day burst
The numbers are mind-boggling: 15 years ago, hedge funds managed less than $40 billion. Today, the figure is approaching $1 trillion. By contrast, assets in mutual funds grew at an impressive but much slower rate, to $8.1 trillion from $1 trillion, during the same period. The number of hedge fund firms has also grown - to 3,307 last year, up 74 percent from 1,903 in 1999. During the same period, the number of funds created - a manager can start more than one fund at a time - has surged 209 percent, with 1,406 funds introduced in 2004, according to Hedge Fund Research, based in Chicago.
Jenny Anderson and Riva D. Atlas, "If I Only Had a Hedge Fund," The New York Times, The New York Times, March 27, 2005 --- http://www.nytimes.com/2005/03/27/business/yourmoney/27hedge.html 
Jensen Comment:  The name "hedge fund" seems to imply that risk is hedged.  Nothing could be further from the case.  Hedge funds do not have to hedge risks,  Hedge funds should instead be called private investment clubs.  If structured in a certain way they can avoid SEC oversight.  

Remember how the Russian space program worked in the 1960s? The only flights that got publicized were the successful ones.  Hedge funds are like that. The ones asking for your money have terrific records. You don't hear about the ones that blew up. That fact should strongly color your view of hedge funds with terrific records.
Forbes, January 13, 2005 --- http://snipurl.com/ForbesJan_13 

US hedge funds prior to 2005 were exempted from Securities and Exchange Commission reporting requirements, as well as from regulatory restrictions concerning leverage or trading strategies. They now must register with the SEC except under an enormous loophole for funds that cannot liquidate in less than two years.

The Loophole:  Locked-up funds don't require oversight.  That means more risk for investors.
"Hedge Funds Find an Escape Hatch," Business Week, December 27, 2004, Page 51 --- 

Securities & Exchange Commission Chairman William H. Donaldson recently accomplished a major feat when he got the agency to pass a controversial rule forcing hedge fund advisers to register by 2006. Unfortunately, just weeks after the SEC announced the new rule on Dec. 2, many hedge fund managers have already figured out a simple way to bypass it.

The easy out is right on page 23 of the new SEC rule: Any fund that requires investors to commit their money for more than two years does not have to register with the SEC. The SEC created that escape hatch to benefit private-equity firms and venture capitalists, which typically make long-term investments and have been involved in few SEC enforcement actions. By contrast, hedge funds, some of which have recently been charged with defrauding investors, typically have allowed investors to remove their money at the end of every quarter. Now many are considering taking advantage of the loophole by locking up customers' money for years.

You should investigate the CPA firm that audits the a hedge fund and ask about its size (number of licensed auditors, etc.). Usually this information is available from the auditing firm’s Website. It’s a very bad sign if the auditing firm does not have this information at its Website.

Then you should verify with the State Board of Accountancy (there’s one in each of the 50 states) and make sure the auditing firm is licensed as an auditor where the audit is being conducted. In Bernie Madoff’s case his hedge fund's auditor was a CPA but was not licensed by the NYSCPA to conduct audits in the State of New York (or any other state).

To additionally check out the hedge fund's external CPA auditor, contact the PCAOB to see if the Federal government has inspected the auditing work of the CPA auditing firm (keep in mind that the PCAOB has not inspected all small auditing firms, but by now it has gotten around to most large auditing firms more than once). Inspection reports are archived at http://www.pcaobus.org/inspections/public_reports/index.aspx

On a net basis, the total number of hedge funds declined by 1,471 in 2008, leaving 9,284 funds that were still in business. In the last quarter of 2008, a record number of 778 funds liquidated. Many of the remaining hedge funds imposed new restrictions on how much money could be withdrawn over designated time intervals such as a month or a year.
 Hedge Fund Research Inc. --- Click Here
 http://www.bizjournals.com/gen/company.html?gcode=9E154A9ABD034B20BA640186F1E41F65&market=philadelphia

Keep in mind that many (most?) of those 9,284 hedge funds do not pay for a CPA firm audit (especially a large CPA firm with deep pockets in investor lawsuits). I would never invest in any fund that is not audited by a large and licensed CPA firm.

Bob Jensen's threads on frauds are linked at http://www.trinity.edu/rjensen/fraud.htm
In particular see http://www.trinity.edu/rjensen/fraud001.htm
And see http://www.trinity.edu/rjensen/FraudRotten.htm


The 2008-2009 Economic Downfall
Great Graphic:  Infographic: Anatomy of the Crash
http://www.simoleonsense.com/infographic-anatomy-of-the-crash/
Bob Jensen's threads on the downfall --- http://www.trinity.edu/rjensen/2008Bailout.htm 

50 Great Examples of Data Visualization ---
http://www.webdesignerdepot.com/2009/06/50-great-examples-of-data-visualization/
Bob Jensen's threads on visualization of multivariate data ---
http://www.trinity.edu/rjensen/352wpvisual/000datavisualization.htm


Those macroeconomists, who study the broad economy—don't have a blessed clue
If the economy improves and unemployment drops, Obama can take credit. If it fails to improve and unemployment rises, though, he can say he averted an even worse showing. Republicans will take the opposite tack—attributing any improvement to the natural resilience of the economy and blaming the administration if things get worse. And neither side will really know who's right. I have long been a believer in the value of economics in understanding the world. But the chief effect of the current crisis is to raise the possibility that economists—at least those macroeconomists, who study the broad economy—don't have a blessed clue.
Steve Chapman, "Baffled by the Economy:  Why being a macroeconomist means never having to say you're sorry," Reason Magazine, June 11, 2009 --- http://www.reason.com/news/show/134059.html
Bob Jensen's threads on the bailout are at http://www.trinity.edu/rjensen/2008Bailout.htm


What makes this such a big scandal is that the savings of half the households in the U.S. are at stake here.  The tragedy is that now that the scandal is surfacing in the media and in state courts, the SEC is only wrist slapping mutual funds.  This is along with the continued wrist slapping of investment banking (e.g., why is Merrill Lynch still in existence after frauds dating back to Orange County ?) is the real evidence of industry power over regulators.  Sarbanes-Oxley won’t do it!  It’s still Congress to the core in Washington DC as long as industries have regulators in their well-financed  pockets --- http://www.trinity.edu/rjensen/fraud.htm#Cleland 

CBS Sixty Minutes on the Orange County $1 Billion+ Fraud ---
http://www.cs.trinity.edu/~rjensen/000overview/mp3/133summ.htm#Introduction

Before FAS 133 and IAS 39 Swaps Did Not Even Have to Be Booked
Booking does not necessarily put an end to speculation and fraud
1.93 Billion Euros:
Derivatives Fraud Worse Than Orange County

‘Impossible to Understand’ Swap Burns 290-Person Italian Hamlet Share," by Alan Katz, Lorenzo Totaro and Elisa Myartinuzzi, Bloomberg News, June 19, 2009 ---
http://www.bloomberg.com/apps/news?pid=20601085&sid=a04MS8q.QQTM

Ortenzio Matteucci points to towns down the wooded Nerina valley in Italy’s Umbria region and blames peer pressure for his decision to let Polino, population 290, buy a U.S.-inspired financial swap he didn’t understand.

A retired steelworker with wavy gray hair, Polino’s Mayor Matteucci says he agreed to the interest-rate swap because Milan, with more than 1 million residents, and local towns Arrone and Stroncone all bought derivatives to try to save money. Polino’s contract has cost the village 6,579.66 euros ($9,200) more than it has earned since the town made the deal in 2005.

“At the time I thought: Can the Province of Terni, the City of Terni and all the other municipalities bigger than us, such as Milan, be all wrong?” said Matteucci, 59, dressed in a blue polo shirt and jeans. “You can make a mistake if you don’t have an appropriate and deep knowledge of this and just follow what other local governments do.”

Derivatives have burned towns from Polino to Milan to Erie, Pennsylvania. Jefferson County, Alabama, said it might need to declare bankruptcy because of costs associated with the contracts. Responsibility for the expenses in Italy’s second- biggest city and in Umbria’s smallest village sits with elected officials who agreed to financial instruments they didn’t fully grasp, said Stefano Taurini, a lawyer who specializes in corporate law in Milan.

1.93 Billion Euros

In Italy, some 600 local authorities had taken out more than 1,000 derivative contracts on about 35.5 billion euros of debt by the end of last year, according to national Treasury data provided to the Italian Senate Finance Commission.

The governments had unrealized losses of 1.93 billion euros on over-the-counter derivative bets placed with Italian banks and local units of foreign banks at the end of 2008, according to data from the Rome-based Bank of Italy, the country’s central bank.

Continued in article

Bob Jensen's timeline of derivative financial instruments frauds --- http://www.trinity.edu/rjensen/FraudRotten.htm#DerivativesFrauds

Bob Jensen's free tutorials on accounting for derivative financial instruments ---
http://www.trinity.edu/rjensen/caseans/000index.htm


Holy Cow Video:  From Grass to Glass (not humor) ---
http://www.youtube.com/watch?v=JJRy82i8e5Q&feature=email

This may be a bit of a stretch, but I think that instructors teaching managerial/cost accounting may set students thinking about the economies of scale in milk production.

When I grew up on a farm in Iowa, virtually every small town had its own "creamery" where milk and cream separations from each farm were picked up locally and bottled in each of the small towns. Virtually all the small town creameries have been defunct for years.

Here is an attention-grabbing video that could be a great beginning for study of the production cost function components of dairy farming.

Milk:  From Grass to Glass (not humor) ---
http://www.youtube.com/watch?v=JJRy82i8e5Q&feature=email

One operation near Chicago provides enough milk for eight million people --- much more than is needed in the entire city of Chicago.

The methane gas from the manure provides all electric power needed in each barn.

On the down side, think of the down side of large-scale diaries and factories in terms of monopoly pricing and the risk of supply disruption such as when a disease like hoof-and-mouth or mad-cow wipes out the milk supply for the entire city of Chicago. What is the cost and technology of preventing this type of disaster from happening. Why are we more vulnerable to terrorism in our food production and distribution systems?

What were the advantages of small town creameries? Why did they all fail?


Without Curbing Corruption, Developing Nations Cannot Develop

Nuhu Ribadu has a good sense of humor for a guy whose job puts his life in jeopardy. As the founding chairman of Nigeria's Economic & Financial Crimes Commission, he led efforts to combat corruption. In that role he was threatened, shot at, and, finally, fired. Ribadu jokes that he was let go for doing too good a job. But even in self-imposed exile, he remains on an anti-corruption mission. "This is the key to economic development," Ribadu told me during the opening cocktail party at the Aspen Institute's global leadership conference in Aspen, Colo. "The money [from Western government aid] that's supposed to go into building the infrastructure and combating AIDS instead goes out of the country. If you attack corruption, it's the best way to attack poverty."
Steve Hamm, "Africa's Anti-Corruption Hero," Business Week, June 12, 2009 --- http://www.businessweek.com/technology/content/jun2009/tc20090612_591279.htm?link_position=link8


Deceptions, Hoaxes, and Fakery
"
Open-Access Publisher Appears to Have Accepted Fake Paper From Bogus Center," by Paul Basken, Chronicle of Higher Education, June 11, 2009 --- Click Here

The medical-research industry is under growing pressure to improve its ethical standards. Similar pressure has extended to peer-reviewed medical journals, after Elsevier, a publishing leader, admitted to publishing at least nine fake journals from 2000 to 2005.

In other words, it’s an especially bad time for a medical journal to be duped by an author who, say, submits a fake computer-generated research paper from a fake institution he named the Center for Research in Applied Phrenology — or CRAP.

And yet that’s exactly what appears to have happened.

The deception was the work of Philip M. Davis, a doctoral student in communication at Cornell University who serves as executive editor of the Society for Scholarly Publishing’s Scholarly Kitchen blog.

Mr. Davis said he had concocted the plan after receiving numerous “aggressive” unsolicited e-mail messages from Bentham Publishing, which finances its line of 200 open-access scientific journals by charging authors a publication fee.

Mr. Davis and the blog’s editor in chief, Kent R. Anderson, submitted two research papers that were created by a computer program at MIT called SCIgen that describes itself as generating random text intended to “maximize amusement, rather than coherence.”

One of the papers was rejected by Bentham, and the other — a nonsensical five-page report with footnotes and graphical charts that purported to describe an Internet process called the “Trifling Thamyn” — was accepted after the publisher said it had been peer-reviewed. Mr. Davis reported that an invoice for $800 had been issued by Bentham, without any evidence that the article was actually peer-reviewed.

The publications director at Bentham, Mahmood Alam, told The Chronicle by e-mail that, “to the best of our knowledge, we have not published any article from the Center for Research in Applied Phrenology in any of our journals.” Mr. Davis said he had written to Bentham to withdraw the paper after its publication was approved.

Bentham’s subscription manager, Pradeep Menon, reached by telephone at the company’s headquarters in the United Arab Emirates, said he was aware of the accusation but had no further details and could not offer any other company official to comment.

“It’s the first of its kind because we never had such an insinuation charged against us,” Mr. Menon said. “All of our journals are peer-reviewed — that is 100 percent sure.”

Similar scammers have had success in the past, most notably the hoax published in the journal Social Text in 1996 by Alan D. Sokal, a physicist at New York University.

The “popular conception” that open-access publishers rely on publication fees, meanwhile, may not even be true, according to Stuart M. Shieber, a professor of computer science at Harvard University. Mr. Shieber, in his blog, The Occasional Pamphlet, said he had devised a program to pull data out of computerized medical-journal listings and concluded that only about 23 percent of open-access journals charge publication fees.

Jensen Comment
Various hoax papers have been discovered in leading magazines and journals. It would seem that perpetrators of hoaxes are liable to the extent that damages can be proved by the publisher or the readers. Hoaxes are especially dangerous in medical journals.

Another problem is faked portions of articles, books, and documentary movies where the author neglects to separate fact from fiction in the writing itself. For example, Al Gore used fictional scenes in his movie "Inconvenient Truth" --- http://www.zimbio.com/Global+Warming+Hoax/articles/22/Al+Gore+Used+Fictional+Scenes+Inconvenient

Whether or not a journal is open access is mostly irrelevant to this particular issue of a faked publication. It is only slightly relevant in that open access journals that are not printed in hard copy can be created more cheaply and, accordingly, might have less oversight by people (such as dues-paying academic association members) who put up the money for the journal.

I always remember, while still a doctoral student, when Les Livingstone came into my office and pointed out that The Accounting Review had just published an article that was entirely (meaning word-for-word) plagiarized from Management Science. The article itself was not a hoax, but this illustrates that reputable journals with reputable referees can be deceived.

You can read about some hoaxes at http://www.articlesbase.com/article-tags/hoax

Both Snopes and Wikipedia have search categories for "suspect items" that have a higher likelihood of being hoax items but reviewers are not certain about whether or not each item is a hoax --- http://en.wikipedia.org/wiki/Category:Suspected_hoax_articles
Wikipedia depends heavily upon readers to detect hoaxes. This is why articles on very obscure entries that have almost no readers are more likely to be misleading than popular readership items. Some companies pay staff to search Wikipedia for entries containing false or misleading items about their companies. World governments also pay workers to check Wikipedia entries.

Note that according to Snopes "Urban Legends" may differ from "pure fiction" ---
http://www.snopes.com/info/faq.asp
Also see the Glossary at http://www.snopes.com/info/glossary.asp

I have repeatedly warned Internet searchers to beware of items published by individuals and organizations that may not be reputable. This is a special problem with blogs. I seldom pass along a module from unknown individuals and organizations. It is a bit more of a problem when a generally trustworthy source links to an unknown individual or organization. Here I must use judgment. If a reporter for a major newspaper or magazine links to an article by an unknown source, I tend to trust that the reporter checked out authenticity. I'm less trusting of blog entries even if I know the blogger. There are of course exceptions such as when I trust the WebMD blogs or the Chronicle of Higher Education blogs.

Bob Jensen's threads on listservs, blogs and social networks are at
http://www.trinity.edu/rjensen/ListservRoles.htm


Awesome video (via Cal Tech)….If you like Taleb’s- Fooled By Randomness you will enjoy this talk! The speaker Leonard Mlodinow was Stephen Hawkin’s co-author for A Brief History Of Time.

Video: The Drunkard’s Walk: How Randomness Rules Our Lives ---
http://www.simoleonsense.com/video-the-drunkards-walk-how-randomness-rules-our-lives/

Video Introduction (Via Perimeter Institute)

In ‘The Drunkard’s Walk’, acclaimed writer and scientist Leonard Mlodinow shows us how randomness, change, and probability reveal a tremendous amount about our daily lives, and how we misunderstand the significance of everything from a casual conversation to a major financial setback. As a result, successes and failures in life are often attributed to clear and obvious cases, when in actuality they are more profoundly influenced by chance. By showing us the true nature of chance and revealing the psychological illusions that cause us to misjudge the world around us, Mlodinow gives us the tools we need to make more informed decisions.

Speaker Background (Via Perimeter Institute)

Leonard Mlodinow received his doctorate in physics from the University of California, Berkeley, was an Alexander von Humboldt fellow at the Max Planck Institute, and now teaches about randomness to future scientists at Caltech. Along the way he also wrote for the television series MacGyver and Star Trek: The Next Generation. His previous books include Euclid’s Window: The Story of Geometry from Parallel Lines to Hyperspace, Feynman’s Rainbow: A Search for Beauty in Physics and in Life, and, with Stephen Hawking, A Briefer History of Time. He lives in South Pasadena, California.

Video Link (click the play button) --- Click Here


Exercising Imagination with Professor Mike Kearl
Sociology Professor Mike Kearl at Trinity University was an early pioneer in academic Website quality and content. Each year the site gets better and better. It is one of the most popular academic sites in the world ---
http://www.trinity.edu/~mkearl/

Thirty years ago columnist Lewis Lapham made the following observation:
There no longer exists a theater of ideas in which artists or philosophers can perform the acts of the intellectual or moral imagination. In nineteenth-century England Charles Darwin could expect On The Origin of Species to be read by Charles Dickens as well as by Disraeli and the vicar in the shires who collected flies and water beetles. Dickens and Disraeli and the vicar could assume that Mr. Darwin might chance to read their own observations. But in the United States in 1979 what novelist can expect his work to be read by a biochemist, a Presidential candidate, or a director of corporations; what physicist can expect his work to be noticed, much less understood, in the New York literary salons? ("A Juggernaut of Words," Harper's Magazine, June 1979: pp. 12-13).
Conditions have hardly improved three decades later. Now in the supposed "Information Age" six out of ten American households do not purchase a single book and one-half of American adults do not read one. Forty-three years ago in  1965 when the Gallup Organization asked young people if they read a daily newspaper, 67 percent said yes; in 2006, according to the NORC General Social Survey, only 11 percent of those 18-24 answered affirmatively. And yet "they" say we are saturated with informational overload!

I am most interested in the potential of this cyberspace medium to inform and to generate discourse, to enhance information literacy, and to truly be a "theater of ideas." This site features commentary, data analyses (hey, we've become a "factoid" culture), occasional essays, as well as the requisite links, put together for courses taught by myself and my colleagues.  Additions and updates are made daily If you do give feedback on one of the message pads scattered across these pages and wish a reply, please include your e-mail address.

And now for some sites to stimulate the sociological imagination  
(or, at a minimum, prepare one for Sociology Jeopardy).

General sociological resources
Sociological theory
Data resources and some useful web tools
Methods and statistics
Guide to writing a research paper
Exercising the imagination: Subject-based Inquiries
Op-Ed
Search engine for site--improved for the new millennium

June 12, 2009 reply from David Albrecht [albrecht@PROFALBRECHT.COM]

Two years ago, my university ordered me to take down my web site. In a coffee shop a little while ago, I showed it to some Visual Communications with Technology students in a local coffee shop, and they all went: ewwwwww, too Netscapey.

Mr. Kearl's is also Netscapey, I think. I wonder if visual style impedes usage. Does visual design style affect web site quality?

Just a thought. It is obvious that Kearl's quality is driven by content. I heartily approve of content.

Dave Albrecht

June 13, 2009 reply from Bob Jensen

Hi David,

Content trumps everything else! People make return trips to Website for content, and elements extraneous to content (pictures, jokes, music, animation, color stripes, etc.) are distractions and often become time-delaying irritations to users. Who wants to repeatedly encounter the same jokes? Who wants to repeatedly sit through the same animations? Multimedia also adds greatly to storage space needed on servers such as a Blackboard server or your own personal hard drive.

When I first started out with HyperGraphics and Toolbook files for lecture aids (PowerPoint had not yet been invented), I filled the pages with multimedia designed to draw attention to items on a page and even to wake students up. Instead I found that these extraneous bells and whistles and Mickey Mouse animations irritated students and often delayed my presentations such as when I had to stand and wait while a cutsey animation ran its course. There may be age factors to consider here, but my college students were not less than five years old.

After students became honest in their critiques, I went strictly for readable content in most cases and used multimedia only when it truly enhanced content such as when a graphic enhances a data table or an animation truly enhances parts of a graphic. My own Website has been repeatedly accused of being long on endless text and short on pictures and animations and music. That's what I intend, because the text is readable and more importantly easy to search. Java and JavaScript modules that I once used to a fault made content less usable.

Of course my Web pages have many, many links to videos, pictures, slide shows, and audio, but these hot links are designed to be optional distractions that are not forced upon students in a hurry.

Mike Kearl pretty much used the same dark coloring and other display features that he began with 25 years ago in his first Website. I often find the pages somewhat gloomy looking. But you have to understand that his scholarship and research specialty is the sociology of death and dying. Perhaps this affected his design choices.

Most of the massive content of Mike’s Website is not concerned with the sociology of death and dying such that it might’ve been less gloomy and distracting sometimes to simply follow my style of plain text on white or soft pastel backgrounds. Be that as it may, the extensive content of Mike’s Website is what draws faculty and students from virtually all academic disciplines repeatedly to his extremely popular Website.

Content is king! It's the words that are picked up by Web crawlers like Google and Bing.

And always think of your readers as historians. Content often improves with age as it becomes history that has disappeared from other sites. Website content is thus like wine that improves with age for students seeking an understanding of context and history.

Bob Jensen

June 13, 2009 reply from David Fordham, James Madison University [fordhadr@JMU.EDU]

Content trumps everything else! People make return trips to Website for content, and elements extraneous to content (pictures, jokes, music, animation, color stripes, etc.) are distractions and often become time-delaying irritations to users. ... I found that these extraneous bells and whistles and Mickey Mouse animations irritated students and often delayed my presentations. ... I went strictly for readable content in most cases and used multimedia only when it truly enhanced content such as when a graphic enhances a data table or an animation truly enhances parts of a graphic. ... Content is king!

To which I respond:

Bob, I've excerpted your comments to highlight what I consider to be the crux of the matter.

I agree wholeheartedly that content is king, and that content trumps everything else. And I agree fully that peripheral devices *often* become distractions. But I must emphasize the point you made subtly that this is not always the case.

Those additional "devices" (color, background, font choice, shadowing, animations, sound, cartoons, graphics, element size, placement, etc.) can actually become part of the content when used correctly.

Here's the principle: Content does not have to be restricted to "knowledge transfer". Content especially does not have to be restricted to "readable" stuff. Content can serve other educational purposes as well. Content can include attention-directing devices; attention-distracting devices; attention-stimulating devices; simulations (and stimulations) of temporal progression, chronological order, and sequencing; illustration of relationships; illustration of change and dynamism; and by far the most often abused and misused: variety, aesthetic, and decorative elements that contribute ease, pleasure and enjoyment to the learning experience ... WHEN DONE RIGHT.

I believe that is what is so often misapplied by professors who try to use technology. Kearl's site is a prime example of someone adding the peripheral devices but without properly incorporating them "as content".

I think it was McLuhan who said, "the medium is the message". You mentioned Toolbook and HyperGraphics, and, I know you are old enough (since I am) to remember Harvard Graphics... back then, computer animation "hadn't been invented yet", and sound cards were still in the future. All we had was "content" in the form of bullet points and narrative text, and rudimentary motion of the text. In my mind, we were crippled compared to today in what CONTENT we could deliver via computer learning.

I agree with the majority that Kearl's website does a very poor job of applying those peripheral elements. They are not combined in an appropriate manner to achieve a pedagogical objective. To start with, the text is too wide for comfort on today's wide-screen monitors. The margins do not properly separate the text from the reader's vision background. The fonts were poorly chosen compared to the background elements and reading style. It is not clear what, if any, contribution is made by the peripheral elements beyond their mere presence. (As you mention, there might be a subtle objective of matching color to the gloominess of the subject matter, but that's about all I could find...)

(Shameless advertisement: I am giving a presentation at the AIS Educators Conference 2 weeks from now on how to "avoid student narcolepsy" by *proper* (proper, not overdone) usage of peripheral content-enhancement devices. My presentation addresses primarily classroom presentations using PowerPoint, but the concepts borrow heavily from good website design, and in general, good educational and psychophysiological theory.)

The whole idea of our effort is student learning. Plain and simple knowledge delivery is good, but better student learning requires student involvement. Proper application of the peripheral devices (animations, sound, pictures, cartoons, etc.), **> when done properly <** has been shown to increase mental involvement and enhance learning, not only by better illustration of the concepts and principles, and highlighting primary points in a variety of manners, but also by motivating the student to come back for more because it was an enjoyable experience. They paid attention to what they should have, their attention was directed to what was important and they also picked up on the trivial details as such. In short, they *learned* what I wanted them to learn.

There's a right way and wrong way (and more often, many right ways and many wrong ways) to use the tools we have today.

David Fordham
JMU

June 13, 2009 reply from Bob Jensen

Hi David,

Thank you for your informative reply.

I guess that my main conclusion is that, in spite of Web page design flaws, Mike Kearl's Website is extremely popular with thousands of faculty and students. This suggests that content is the main draw in spite of design flaws.

Bob Jensen

Bob Jensen's threads on open sharing are at http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI


When is a "fee" tuition?

Currently, undergraduate students at California State University campuses pay more than $3,000 per year out of pocket for something called the "State University Fee" and another $500 in various incidental fees, while the state contributes a bit more than $8,000 per student per year to campus operations. By calling the $3,000 payment a State University Fee, the Legislature is able to maintain the fiction that higher education in California remains tuition free. But in reality, the State University Fee is a charge for instruction, so it meets the dictionary definition of a tuition payment.
Mark Shapiro, The Irascible Professor, January 18, 2009 --- http://irascibleprofessor.com/comments-06-18-09.htm

Jensen Comment
My daughter Lisl graduated from the University of Texas. For four years I paid fee after fee that amounted to the same thing as Mark describes above. California is an extreme in fee-based education, but it is certainly not unique.


Will this university be allowed to study medication reactions?
Now there's a new Humane Society University
Since the degree programs are so few in number, couldn't it have been called a college?

Or animals, at least. The Humane Society University, newly licensed as a degree-granting institution by the District of Columbia, will begin offering undergraduate degrees this fall in animal studies, animal policy and advocacy, and humane leadership, as well as graduate certificates in those three areas. The university, which is a program of the Humane Society of the United States, will offer degree programs online and on site in D.C.

The programs are oriented toward working adults and those looking to complete their bachelor’s degrees; to be admitted to the undergraduate programs, students would essentially have to have junior status, and have already completed at least 60 college credits, including general education requirements, elsewhere. (Another such specialized college offering instruction only in the junior and senior years, but this one with a single major in history, is also getting started.)

“In the animal shelter community, a great percentage of executive directors are career changers. And the executive directors at the local animal shelter level, a great majority of them do not have a college degree or only have an associate degree. So this is really trying to help professionalize that position,” says Robert Roop, the Humane Society University’s president. In addition to professionals already working in animal shelters or related nonprofits, the university hopes to attract students interested in animals and animal advocacy more generally -- “someone who works in the day and volunteers in the evening, or someone who works in public policy who has a keen interest in animal advocacy,” Roop says.

"We really think there is a niche out there."

The Humane Society University already offers non-credit professional or work force development courses in-person and online, and has since its founding about five years ago, Roop explains. Now that it’s licensed to grant degrees, Roop says the university has plans to seek accreditation from the Middle States Commission on Higher Education.

Continued in article

Jensen Comment
Problems this university will encounter are housing and testing animals for research purposes. Research for the good of all animals in a species may be hard on the particular animals being housed and studied in research labs. There's a huge difference between petting research and heart worm disease research and medication reaction research. But animal activists that yell and scream when President Obama swatted a fly are going to be breathing down the back of the Humane Society University. Insecticide research is probably totally off limits.


Russian Credit Card Fraud:  800,000 Preauthorization Checks Per Month

"An Odyssey of Fraud," by Brian Krebs, The Washington Post, June 18, 2009 --- http://voices.washingtonpost.com/securityfix/2009/06/an_odyssey_of_fraud.html?wprss=securityfix

Andy Kordopatis is the proprietor of Odyssey Bar, a modest watering hole in Pocatello, Idaho, a few blocks away from Idaho State University. Most of his customers pay for their drinks with cash, but about three times a day he receives a phone call from someone he's never served -- in most cases someone who's never even been to Idaho -- asking why their credit or debit card has been charged a small amount by his establishment.

Kordopatis says he can usually tell what's coming next when the caller immediately asks to speak with the manager or owner.

"That's when I start telling them that I know why they're calling, and about the Russian hackers who are using my business," Kordopatis said.

The Odyssey Bar is but one of dozens of small establishments throughout the United States seemingly picked at random by organized cyber criminals to serve as unwitting pawns in a high-stakes game of chess against the U.S. financial system. This daily pattern of phone calls and complaints has been going on for more than a year now. Kordopatis said he has talked to the company that processes his bar's credit card payments about fixing the problem, but says they can't do anything because he hasn't actually lost any money from the scam.

The Odyssey Bar's merchant account is being abused by online services that cyber thieves built to help other crooks check the balances and limits on stolen credit and debit card account numbers. In April, I wrote about a pet store in Buffalo, N.Y., whose merchant account was being similarly abused by another card-checking service. In that story, I cited research on this trend by Lawrence Baldwin, a security consultant in Alpharetta, Ga., who has been working with several financial institutions to help infiltrate illegal card-checking services:

The services are advertised on Internet forums that facilitate identity theft, and cater to criminals who wish to buy large numbers of stolen credit and debit cards. Using such services, the would-be buyers can quickly verify whether a random sampling of the cards is still active, and -- for an additional fee -- the available balance on each card. In most cases, the only barrier to new customers signing up at these services is the ability to speak and read Russian, and the ability to pay with one of several virtual currencies, such as Webmoney.

Baldwin estimates that at least 25,000 credit and debit cards are checked each day at three separate illegal card-checking Web sites he is monitoring. That translates to about 800,000 cards per month or nearly 10 million cards each year.

Baldwin said the checker sites take advantage of authentication weaknesses in the card processing system that allow merchants to conduct so-called "pre-authorization requests," which merchants use to place a temporary charge on the account to make sure that the cardholder has sufficient funds to pay for the promised goods or services.

Pre-authorization requests are quite common. When a waiter at a restaurant swipes a customer's card and brings the receipt to the table so the customer can add a tip, for example, that initial charge is essentially a pre-authorization.

With these card-checking services, however, in most cases the charge initiated by the pre-authorization check is never consummated. As a result, unless a consumer is monitoring their accounts online in real-time, they may never notice a pre-authorization initiated by a card-checking site against their card number, because that query won't show up as a charge on the customer's monthly statement.

In fact, in most cases when banks are alerted to the card-checking activity, it is because a credit card customer is regularly checking their online statement or has signed up with their bank to receive e-mail alerts each time a charge is initiated against their account.

The crooks have designed their card-checking sites so that each check is submitted into the card processing network using a legitimate, hijacked merchant account number combined with a completely unrelated merchant name, Baldwin discovered.

On June 11, Kordopatis heard from Keri Tetlow, a mother of three from the suburbs of Houston. Tetlow, who watches her family's debit account balance like a hawk from their home computer, said she called Odyssey Bar because she noticed a $2.77 charge from the establishment. Tetlow said that after checking with her husband to make sure he hadn't made the charge, she decided to wait and see if the pending charge would clear. It never did.

But a few days later, Tetlow spotted $300 missing from her checking account, which she noticed was due to two unauthorized charges at a Office Depot on Broadway in New York City. So she called her bank. After confirming neither she nor her husband had lost their debit card, she told the bank to cancel the card.

Continued in article

Bob Jensen's threads on identity theft are at
http://www.trinity.edu/rjensen/FraudReporting.htm#IdentityTheft


"Survey Identifies Trends at U.S. Colleges That Appear to Undermine Productivity of Scholars," by Peter Schmidt, Chronicle of Higher Education, June 14, 2009 --- Click Here 

A paper summarizing the researchers’ findings says they defined scholarly productivity in terms of the number of articles faculty members had published in refereed journals, and determined that “the factors most associated with productivity are an inclination to research, time devoted to research, full-professor status, and a pattern of international collaboration in research activities.” Other factors that have been thought to be tied to research productivity, such as the demographic makeup of the academic work force, did not play a significant role.

In comparing the 1992 and 2007 international-survey data, the researchers found that U.S. scholars in the latest survey were less likely to be interested in research, relative to teaching; were receiving less financial support for research and were less satisfied with the quality of equipment and laboratories; were less likely to be tenured or on the tenure track; and were slightly less likely to be involved in international collaborations.

For all fields, the average number of refereed journal articles produced by each researcher stood at 3.9 in 2007, down from 4.2 in 1992, the researchers’ paper says. It acknowledges, however, that merely counting scientists’ publication of refereed journal articles might underestimate their true productivity, in that they might be writing fewer articles of higher quality, or turning to electronic publications or conference presentations as their means of sharing findings with others.

Continued in article

Bob Jensen's threads on controversies in higher education are at http://www.trinity.edu/rjensen/HigherEdControversies.htm


Former top executive of American International Group Inc. plundered an AIG retirement program of billions of dollars

"AIG lawyer tells jury that Greenberg plundered retirement program after being forced out," by Madlen Read,  Newser, June 15, 2009 --- Click Here
Also see The Washington Post's account --- Click Here

The former top executive of American International Group Inc. plundered an AIG retirement program of billions of dollars because he was angry at being forced out of the company, a lawyer for AIG told jurors Monday at the start of a civil trial.

Attorney Theodore Wells told the jury in Manhattan that former AIG Chief Executive Officer Maurice "Hank" Greenberg improperly took $4.3 billion in stock from the company in 2005, after he was ousted by the company amid investigations of accounting irregularities.

"Hank Greenberg was mad. He was angry," Wells said in U.S. District Court of the emotional state of the man who, over a 35-year-career, built AIG from a small company into the world's largest insurance company.

Wells said that Greenberg, within weeks of being forced out in mid-2005, gave the go-ahead for tens of millions of shares to be sold from a trust fund. The fund was set up to provide incentive bonuses to a select group of AIG management and highly compensated employees that they would receive upon their retirement.

Greenberg, 84, has contended through his lawyers that he had the right to sell the shares because they were owned by Starr International, a privately held company he controlled.

Starr International was named after Cornelius Vander Starr, who created a worldwide network of insurance companies in the early 1900s.

AIG maintains that Starr and Greenberg, his protege and successor, decided in the late 1960s to organize the various companies under one holding company, AIG.

Starr International remained a private company and its shareholders decided in 1970 that the amount that its shares of AIG were worth above book value of about $110 million should be used to compensate AIG employees, AIG has said.

The embattled insurer is trying to reclaim the money from Starr it says was wrongly pocketed through stock sales by Greenberg.

Bob Jensen's threads on the history of AIG fraud ---
http://www.trinity.edu/rjensen/FraudRotten.htm#MutualFunds


"MIT Tops List of College Copyright Violators," by Erica R. Hendry, Chronicle of Higher Education, June 17, 2009 ---
http://chronicle.com/wiredcampus/article/3833/mit-tops-list-of-college-copyright-violators

The Massachusetts Institute of Technology had the most instances of digital piracy and other copyright infringements among American colleges and universities in 2008 for the second year in a row, according to a report released by Bay-TSP, a California company that offers tracking applications for copyrighted works.

According to the company’s annual report, MIT had 2,593 infringements of media owned by Bay-TSP’s clients. The University of Washington and Boston University ranked second and third, with 1,888 and 1,408 infringements, respectively.

Clients of the company, whose name means “Bay-Area Track, Security, Protect,” include motion-picture studios; software, video-game and publishing companies; and sports and pay-per-view television networks.

The annual report provides an analysis of data collected using piracy-network crawling software. The company does not track all instances of Internet-based piracy, said Jim E. Graham, a Bay-TSP spokesman. It only monitors violations of movies, videos, TV shows, or software that clients ask the company to follow.

Mr. Graham also said not all violations result in a take-down notice. Clients give the company varying instructions for their data, ranging from sending take-down notices to simply tracking how often and by whom the material is infringed.

Although MIT ranks first among domestic colleges and universities, it is not in the top 10 worldwide. The University of Botswana had 9,027 infringements, followed by Sweden’s Uppsala University, which had 8,032 infringements, according to the report.

Jeffrey I. Schiller, the information-services and technology-network manager at MIT, said he has not seen a copy of Bay-TSP’s report, but the institution does not tolerate copyright infringement, nor does it receive an unusual number of take-down notices.

“I haven’t formally counted the number of take-down notices we’ve received, but if we get more than a few, it’s a big day,” he said. “If we represented truly the worst-case scenario, then copyright infringement can’t be a really big problem, because we don’t have that much.”

Bob Jensen's threads on plagiarism are at http://www.trinity.edu/rjensen/Plagiarism.htm


Working for Nothing Does Not Pay the Mortgage

Struggling British Airways asks 40,000 staff to work for nothing in desperate fight for survival
British Airways boss Willie Walsh is asking his 40,000 staff to work for nothing to save the airline. The astonishing plea comes as BA faces what Mr Walsh says is a 'fight for survival'. The company has written directly to its 40,000 employees asking them to volunteer for up to four weeks of unpaid work.
Ray Massey, London Telegraph, June 16, 2009 --- Click Here


Chaos Theory --- http://en.wikipedia.org/wiki/Chaos_Theory

Wow! Talk About Crossing Disciplines
"Business-School Dean Advanced From Chaos Theory to Global Marketing," by Ruth Hammond, Chronicle of Higher Education, June 15, 2009 ---
http://chronicle.com/weekly/v55/i39/39peersingh.htm?utm_source=wb&utm_medium=en

St. Mary's University's new business dean might have had a career as a physicist, had her temperament been different. Her bachelor's and master's degrees, from Allahabad University, in India, are in physics.

"I was a pretty good physicist," said Tanuja Singh, who has been chair of the marketing department at Northern Illinois University's College of Business for three years. "But I'm inherently a people person." And physics, she concluded, "is a fairly lonely field."

So "just for the heck of it," she took India's national examination to be a bank officer and then found work with the State Bank of India, where she became an officer of international banking in 1985. She found herself enthralled with the import-export side of trade, and a new pursuit was born.

Ms. Singh's international background is one of the assets — along with being "terrifically energetic," innovative, and change-oriented — that she will bring to San Antonio, where she will lead St. Mary's Bill Greehey School of Business, says Charles L. Cotrell, the university's president.

She will be the first female dean of the 86-year-old business school, which in 2005 was named for Bill Greehey, an oil executive and alumnus who endowed it with $25-million. Part of the money was to be used to attract top professors and students.

Ms. Singh, who turns 46 this month, says she has been fascinated since childhood by how countries develop. So it seemed only natural that, once she got involved in international trade, she would pursue an M.B.A. and do so in the United States, following a path similar to those her brother and an uncle had taken.

She ended up at Millsaps College, a small, private institution in Jackson, Miss., where she earned her M.B.A. in 1990. A professor there remarked on how well she worked with students and encouraged her to get a Ph.D. That advice reinforced her own ideas about what to do next.

"You have to know what you love," she says. "For me, it was a big risk to jump from physics, where I was pretty good, into a new field. So some of it is personality also — how comfortable you are with risky situations."

In 1994 she earned a doctorate in business administration at Southern Illinois University at Carbondale. Concepts she had learned in physics made their way into her dissertation on "advertising wearout," particularly entropy, with a little bit of chaos theory thrown in. "I used the foundation of how entropy works in the thermodynamic world," Ms. Singh says, "and translated it to how it should work in a cognitive world, where we were dealing with information processing."

She analyzed "how information wears out, why people get bored with it, overloaded with it, and how soon this information dissipates."

The year before she finished her dissertation, she became an assistant professor of marketing at the Florida Institute of Technology. She returned to Illinois after a few years, to Northern Illinois University's College of Business, where she became a tenured professor of marketing. The business school's balance between theory and practice is what drew her there, she says.

At Northern Illinois, Ms. Singh has brought real-world experience into the classroom by having students work with businesses in nearby Chicago on global-marketing strategies and learn from Chinese business leaders who visited the campus for an international executive-education program.

She was not looking to leave right away but was approached by a search firm about the job at St. Mary's after being nominated by a dean who met her at a conference for aspiring business-school deans.

The more she learned about St. Mary's, the more excited she grew about the prospect of working there. "It was almost as if the position was designed with me in mind," she says. The university's emphasis on ethics, social justice, service, and a concept known as "peace through commerce" all appealed to her.

Continued in article

Bob Jensen's threads on higher education are at http://www.trinity.edu/rjensen/HigherEdControversies.htm


Brigham Young University (BYU) launched its Open CourseWare (OCW) pilot with
six Creative Commons licensed courses

Before reading this module you may want to read about the Creative Commons ---
http://en.wikipedia.org/wiki/Creative_Commons
Creative Commons Home Page --- http://creativecommons.org/

Creative Commons Directory of Resources --- http://wiki.creativecommons.org/Content_Curators 

From Canada's Creative Commons --- http://creativecommons.org/weblog/entry/15108

Jane Park, June 10th, 2009

It appears that David Wiley’s move to Brigham Young University has already resulted in progress towards opening the university’s content. Long-time pioneer and academic of open education, Wiley reports that BYU’s Independent Study has launched its Open CourseWare (OCW) pilot with six Creative Commons licensed courses under CC BY NC-SA.

“The pilot includes three university-level courses and three high school-level courses (BYU IS offers 250 university-level courses online for credit and another 250 high school-level courses online for credit). The courses in BYU IS OCW are content-complete - that is, they are the full courses as delivered online without the need of additional textbooks or other materials (only graded assessments have been removed).”

The most interesting thing about this pilot is that it “is part of a dissertation study to measure the impact of OCW courses on paying enrollments.” So far, “the results are very positive - 85 of the 3500 people who visited the OCW site last month registered for for-credit courses… if this pattern remains stable, then BYU IS OCW will be financially self-sustainable with the ability to add and update a number of new courses to the collection each year, indefinitely, should they so choose.” Echoing Wiley, that is an exciting prospect. We look forward to seeing these results develop, in addition to other inquiries into the sustainability of general OER initiatives in the future…

BYU Independent Study --- http://ce.byu.edu/is/site/courses/ocw/
Also see http://ce.byu.edu/is/site/aboutus/index.cfm

 

University Courses   High School Courses

You may view, use, and reuse all materials in the Open CourseWare courses. Please note that Open CourseWare courses do not provide the opportunity to submit assessments for credit, interact with faculty, or receive credit or a certificate upon completion. BYU Independent Study provides these courses as a community service under a Creative Commons license. The course materials are freely available for you to use, download, modify and share as long as you do not sell the products you derive from them. If you alter, transform, or build upon the courses, you may distribute your work only using licensing terms the same as or similar to the Creative Commons Atribution-Noncommercial-Share Alike 3.0.

University Courses  (includes art, accounting, chemistry, etc.)
High School Courses
Middle School Courses
Personal Enrichment Courses
Free Courses (includes such things as dating and romance)

Bob Jensen's threads on open sharing (learning materials, videos, lectures, and entire courses) are at http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI

Bob Jensen's threads on distance education training and education alternatives are at
http://www.trinity.edu/rjensen/Crossborder.htm


Karl Marx was a vehement racist and anti-Semite (yes, even though both his grandfathers were rabbis!) This particular quote is not an aberration but very typical of both his and Engel's thoughts.
Free Republic, June 14, 2009 ---
http://www.freerepublic.com/tag/news-forum/index?more=2271681 

Marx-Engels Correspondence, 1862 --- http://www.marxists.org/archive/marx/works/1862/letters/62_07_30a.htm


Free Book
Ten Great Economists:  From Marx to Keynes --- http://mises.org/books/tengreateconomists_schumpeter.pdf


Daily Humor (mostly humor but not always)
Snopes also has an interesting page called Odd News that I intend to examine daily since the items on this page are transient
--- http://www.snopes.com/daily/

George Wright says the same articles show up on fark.com, along with much snarky commentary.

Also note What's New --- http://www.snopes.com/info/whatsnew.asp


The Now-Dubious Hawthorne Effect and the Need for Research Replication
(something that's virtually non-existent in accounting research)

Since empirical accounting research studies are almost never replicated, I've long contended that "accountics" farmers are more interested in their tractors than their harvests. Accounting research is almost all form rather than substance.

Sometimes experimental outcomes impounded for years in textbooks become viewed as "laws" by students, professors, and consultants. One example, is the Hawthorne Effect impounded into psychology and management textbooks for the for more than 50 years --- http://en.wikipedia.org/wiki/Hawthorne_Effect

But Steven Levitt and John List, two economists at the University of Chicago, discovered that the data had survived the decades in two archives in Milwaukee and Boston, and decided to subject them to econometric analysis. The Hawthorne experiments had another surprise in store for them. Contrary to the descriptions in the literature, they found no systematic evidence that levels of productivity in the factory rose whenever changes in lighting were implemented.
"Light work," The Economist, June 4, 2009, Page 74 ---
http://www.economist.com/finance/displaystory.cfm?story_id=13788427

One problem is that if old experiments are not periodically verified in terms of new analysis of old data or replications using new data, they become urban legends in the literature.

A scientist in any serious scientific discipline, such as genetics, would be in serious trouble if his fellow scientists were unable to confirm or replicate his claim to have found the gene for fatness. He would gain a reputation as being 'unreliable' and universities would be reluctant to employ him. This self-imposed insistence on rigorous methodology is however missing from contemporary epidemiology; indeed the most striking feature is the insouciance with which epidemiologists announce their findings, as if they do not expect anybody to take them seriously. It would, after all, be a very serious matter if drinking alcohol really did cause breast cancer.
James Le Fanu --- http://www.open2.net/truthwillout/human_genome/article/genome_fanu.htm
Bob Jensen's threads on replication are at http://www.trinity.edu/rjensen//theory/00overview/theory01.htm#Replication

If you're going to attack empirical accounting research, hit it where it has no defenses!

  1. One type of accounting research is "Spade Research" and our leading Sam Spade in recent decades was Abe Briloff when he was at Baruch College in NYC. Abe and his students diligently poured over accounting reports and dug up where companies and/or their auditors violated accounting standards, rules, and professional ethics. He was not at all popular in the accounting profession because he was so good at his work. Zeff and Granof wrote as follows:
        

    Floyd Norris, the chief financial correspondent of The New York Times, titled a 2006 speech to the American Accounting Association "Where Is the Next Abe Briloff?" Abe Briloff is a rare academic accountant. He has devoted his career to examining the financial statements of publicly traded companies and censuring firms that he believes have engaged in abusive accounting practices. Most of his work has been published in Barron's and in several books — almost none in academic journals. An accounting gadfly in the mold of Ralph Nader, he has criticized existing accounting practices in a way that has not only embarrassed the miscreants but has caused the rule-making authorities to issue new and more-rigorous standards. As Norris correctly suggested in his talk, if the academic community had produced more Abe Briloffs, there would have been fewer corporate accounting meltdowns.
    "Research on Accounting Should Learn From the Past," by Michael H. Granof and Stephen A. Zeff, Chronicle of Higher Education, March 21, 2008 

  2. In the 1960s and 1970s leading academic accounting researchers abandoned "Spade" work and loosely organized what might be termed an Accounting Center for Disease Control where spading was replaced with mining of databases using increasingly-sophisticated accountics (mathematical) models. Leading academic accounting research journals virtually stopped publishing anything but accountics research --- http://www.trinity.edu/rjensen/395wpTAR/Web/TAR395wp.htm
     
  3. In the past five decades readers of leading academic accounting research journals had to accept on faith that there were no math errors in the analysis. The reason is that no empirical accounting research is ever exactly replicated and verified. In fact the leading academic accounting research journals adopted policies against publishing replications or even commentaries. The Accounting Review (TAR) does technically allow commentaries, but in reality only about one appears each decade.
     
  4. Many of the empirical research studies are rooted in privately collected databases that are never verified for accuracy and freedom from bias.
     
  5. On occasion empirical studies are partly verified with anecdotal evidence. For example the excellent empirical study of Eric Lie in Management Science on backdating of options was partly verified by court decisions, fines, and prison sentences of some backdating executives. However, anecdotal evidence has severe limitations since it can be cherry picked to either validate or repudiate empirical findings at the same time. See http://en.wikipedia.org/wiki/Options_backdating
     
  6. Replication is part and parcel to the scientific method. All important findings in the natural sciences are replicated our verified by some rigorous approach that convinces scientists about accuracy and freedom from bias.
     
  7. One of my most popular quotations is that "empirical accounting farmers are more interested in their tractors than in their harvests." When papers are presented at meetings most of the focus is on the horsepower and driving capabilities of the tractors (mathematical models). If the harvests were of importance to the accounting profession, the profession would insist on replication and verification. But the accounting profession mostly shrugs off academic accounting research as sophisticated efforts to prove the obvious. There are few surprises in empirical accounting research.
     
  8. Another sad part about our leading academic accounting research journals is that they have such a poor citation record relative to our academic brethren in finance, marketing, and management. American Accounting Association President Judy Rayburn made citation outdomes the centerpiece of her emotional (and failed) attempt to get leading academic accounting research journals to accept research paradigms other than accountics paradigms --- http://www.trinity.edu/rjensen/395wpTAR/Web/TAR.htm
     
  9. But the saddest part of all is that the Accounting Center for Disease Control literally took over every doctoral program in the United States (slightly excepting Central Florida University) by requiring that all accounting doctoral graduates be econometricians or psychometricians. As a result doctoral programs realistically require five years beyond the masters degree. Accountants who enter these programs must spend years learning mathematics, statistics, econometrics, and psychometrics. Mathematicians who enter these programs must spend years learning accounting. The bottom line is that practicing accountants who would like to become accounting professors are turned off by having to study five years of accountics. Each year the shortage of graduates from accounting doctoral programs in North America becomes increasingly critical/

    The American Accounting Association (AAA) has a new research report on the future supply and demand for accounting faculty. There's a whole lot of depressing colored graphics and white-knuckle handwringing about anticipated shortages of new doctoral graduates and faculty aging, but there's no solution offered --- http://aaahq.org/temp/phd/AccountingFacultyUSCollegesUniv.pdf 

Since empirical accounting research studies are almost never replicated, I've long contended that "accountics" farmers are more interested in their tractors than their harvests. Accounting research is almost all form rather than substance.

June 11, 2009 reply from David Fordham, James Madison University [fordhadr@JMU.EDU]

Bob (et al):

As my generation would have said: "right on".

One of my many vices is an interest in several fields besides accounting. About a quarter of a century ago, I remember two physicists at UofU (Stanley Pons and Martin Fleischmann, if memory serves) who published a report about cold fusion (which technically, if you read their paper, wasn't real fusion to start with, but alas the popular press took their usual liberty with the facts to sell stories).

F&P's experiments were replicated out the wazoo, and interestingly enough, their results were reproduced on an intermittent basis: sometimes the results came up, and sometimes they didn't, using the same experimental design over and over. To this day, those who duplicated the results believe in their findings, while those who didn't pooh-pooh the idea.

Because the majority of attempts didn't reproduce the results, interest in the experiment seems to have waned, lending credence to the idea that science is something of a democracy (complete with lobbying, wasteful spending, campaigning, shameless lying to drum up votes, and massive corruption) after all. If too many people vote against you, you're toast.

But back to replications: The disappointing thing about F&P is, no one seems to be pursuing the question of WHY the replications produced varying results. To my mind, the question of why replications sometimes worked and sometimes didn't was an important question worth pursuing, but (sigh) the vagaries of the "marketplace for research", influenced so unseemly by the vitriolic criticism of the self-proclaimed pundits of the day on the quiet majority, seem to have let the really-important question just fade away into the abyss of oblivion.

And I believe this is one of the maladies affecting accounting research (assuming one buys into the position that accounting research is beset by maladies): We seem to have lost interest in pursuing the really important questions -- ones that might end up making a difference -- by listening to the pundits who seem to hold undue influence over the silent majority.

David Fordham (who never really left the abyss to start with...)
JMU

Bob Jensen's rant on the lack of replication in "accountics (pseudo science) research" can be found at http://www.trinity.edu/rjensen/theory01.htm#Replication


Video: Something Down The Drain? Retrieve it Without a Wrench (not humor) ---
http://www.familyhack.com/2007/08/29/drain-tip/
Link forwarded by Gene and Joan


Free online textbooks, cases, and tutorials in accounting, finance, economics, and statistics --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks

From Mike Kearl
Need to find out what a dollar in 1917 is worth in 2007? Examine postwar inflation rates in transportation rates in the South? Take advantage of the U.S. Bureau of Labor Statistics Consumer Price Indices or EH.NET's "How Much Is That" websites.    (For British conversions from 1264 to 2002, click here.) Speaking of conversions, there are 8,100 conversions and calculators at Online Conversion.com--"Convert just about Anything to Anything else."
More data links --- http://www.trinity.edu/mkearl/data.html


"Why are young people leaving the church?" WorldNetDaily, June 14, 2009 ---
http://www.wnd.com/index.php?fa=PAGE.view&pageId=100324

What does the age of the Earth have to do with the exodus of young people from American churches?

Ken Ham, known for his Answers in Genesis creation-science ministry, says a major study he commissioned by a respected researcher unveils for the first time in a scientific fashion the startling reasons behind statistics that show two-thirds of young people in evangelical churches will leave when they move into their 20s.

The study, highlighted in Ham's new book with researcher Britt Beemer, "Already Gone: Why your kids will quit church and what you can do to stop it," finds church youth already are "lost" in their hearts and minds in elementary, middle and high school – not in college as many assume.

"A lot of the research already done has been to find out how many believe, how many support abortion, believe in the resurrection, say they're born again," Ham told WND. "But nobody has really ever delved into why two-thirds of young people will walk away from the church."

Get "Already Gone: Why your kids will quit church and what you can do to stop it"

The first-of-its-kind study by Beemer – a former senior research analyst for the Heritage Foundation and founder in 1979 of the American Research Group – included 20,000 phone calls and detailed surveys of 1,000 20 to 29 year olds who used to attend evangelical churches on a regular basis.

The survey found, much to Ham's surprise, a "Sunday School syndrome," indicating children who faithfully attend Bible classes in their church over the years actually are more likely to question the authority of Scripture.

"This is a brutal wake-up call for the church, showing how our programs and our approaches to Christian education are failing dismally," Ham writes in the book.

Among the survey findings, regular participants in Sunday School are more likely to:

Ham – who believes in a literal six-day creation that happened 6,000 to 10,000 years ago – says the church opened a door for the exodus of youth, beginning in the 19th Century, when it began teaching that "the age of the Earth is not an issue as long as you trust in Jesus and believe in the resurrection and the Gospel accounts."

Ken Ham:  "What you see in the Bible is that when there is compromise in one generation, and it's not dealt with, you usually notice it to a greater extent in the next generation," Ham told WND.

In previous generations, young people could live with this inconsistency, he said, but with an increasingly secular and atheistic public education system – where some 90 percent of church-going youth are trained – today's youth find it hard to see a connection between what they are taught in church and what they learn at school.

"Because of the way in which they've been educated," Ham said, teens come to believe "that what they are taught in school is reality, but the church teaches stories and morality and relationship. Bible teaching is not real in the sense of real history."

Now, as parents or leaders tell youth they can "continue to believe in evolution, millions of years," Ham said, young people are starting to see, 'Well, I can then believe what I'm taught at school – but school has nothing to do with God.'"

The key issue is that this doubt about the Bible's account of origins causes youth to doubt the authority of Scripture, he said.

"Salvation is not conditioned on what you believe about the age of the Earth and the six days of creation," Ham said. "There are many who believe in millions of years and are Christians."

But the Genesis issue does matter, he contends, "because salvation does rise or fall on the authority of Scripture. The message of the Gospel comes from these words of Scripture."

When that Bible is undermined, he explained, everything it teaches is in doubt.

Ham's new book shows how young people can be given "answers to help them understand you can really believe God's word, that it "connects to reality and it's really a book of history."

Helping young people makes sense of reports such as the claim last month of the discovery of a "missing link" proving Darwin's theory of evolution is Ham's specialty.

In a May 19 interview with WND, he pointed to a line in the scientific report about the discovery that countered the researchers' bold claims to media.

The fossil's species "could represent a stem group from which later anthropoid primates evolved [the line leading to humans]," states the report, published in the online journal Public Library of Science, "but we are not advocating this here."

The London Guardian newspaper also reported that scientific reviewers of the research asked that others "tone down" claims that the fossil was on the human evolutionary line.

"The reviewers said we don't know this is a missing link, and they asked the people who wrote [the newspaper reports] to tone it down," Ham told WND, "and yet we have this media hype claiming this is it, this is the missing link."


We hang the petty thieves and appoint the great ones to public office.
Aesop

Congress is our only native criminal class.
Mark Twain --- http://en.wikipedia.org/wiki/Mark_Twain

"Dodd's Irish Luck:  The Senator Sure Knows How to Pick an Investment," The Wall Street Journal, June 20, 2009 --- http://online.wsj.com/article/SB124545642440632999.html

Irish property prices have plummeted since 2002. But a "cottage" in County Galway owned by Conn, ecticut Senator Chris Dodd has tripled in value during the same period, according to a financial disclosure form filed by the Senator this month.

There are two possible explanations for this remarkable turn of fortune. Maybe Mr. Dodd is luckier than a leprechaun. Or could it be that he paid well below the market price when he bought out a co-owner in 2002 and had undervalued the property accordingly? If it's the latter, then Mr. Dodd received a "gift," in IRS parlance, and should have declared it on his financial disclosure form that year. He did not. Oh, and by the way, the seller at that low, low price has been the business partner of a man for whom Mr. Dodd lobbied to receive a Presidential pardon.

It's also been nearly a year since a former loan officer at Countrywide Financial charged that the mortgage lender had classified Mr. Dodd as a "very important person" (a.k.a., a "friend of Angelo" Mozilo, Countrywide's then-CEO). As such, Robert Feinberg said, Mr. Dodd received -- and knew he'd received -- preferential rates and fees on two mortgages he and his wife refinanced in 2003. As a power on the Senate Banking Committee, he also knew this was a conflict of interest. This was the era when Countrywide originated and then sold to Fannie Mae high volumes of subprime loans.

The SEC charged Mr. Mozilo with fraud and insider trading earlier this month, and the Los Angeles Times reported in May that there is an FBI investigation which "includes a probe of [Countrywide's] role in an influence-peddling scandal involving" Mr. Dodd. The Senate Ethics Committee won't comment on its own investigation of almost a year.

Mr. Dodd denies receiving any special treatment, and nearly a year ago he promised to release the Countrywide mortgage documents and clear up the matter. We are still waiting, though he did attempt to placate the Connecticut press with a peek-a-boo release of a few select documents and a review by his own lawyers in February.

Now the Irish cottage on 10 scenic acres is bringing more trouble. At the start of the Irish real estate boom in 1994, Mr. Dodd bought the property with William Kessinger for $160,000. Mr. Kessinger has been a business partner of Edward Downe, who is a longtime friend of Mr. Dodd's. In 1986 Messrs. Dodd and Downe owned a condominium together in Washington. In 1993 Mr. Downe pleaded guilty to insider trading and securities fraud and in 2001, as Bill Clinton was preparing to leave the White House, Mr. Dodd successfully lobbied to get his friend a pardon.

The following year, 2002, Mr. Dodd bought out Mr. Kessinger's two-thirds share in the house and became the full owner. Mr. Dodd reported to the Irish government that he paid Mr. Kessinger $122,351, and Mr. Dodd says that a bank appraisal that same year valued the property at $190,000. From 2002 to 2007 Mr. Dodd reported its worth at between $100,001 and $250,000 on his annual Senate financial disclosure form.

But Hartford Courant columnist Kevin Rennie began digging this year into the mismatch between what Mr. Dodd paid to Mr. Downe's business partner to become a full owner and what the property in Ireland was likely worth in 2002 amid the Irish land boom. Last week, when Mr. Dodd filed his annual financial disclosure form, it included a new appraisal from the same appraiser putting the current value of the house at $658,000.

In an effort to explain the gain despite the fact that the Irish housing market has since gone south, a spokesman for the Senator said that "The value of the cottage, or of Irish real estate generally, isn't something that the Dodds have thought much about." However, according to Galway County records, Mr. Dodd was so uninterested in the value of those 10 acres that he tried to subdivide the property in 1998 and put up another house. No doubt because he had no idea what it was, or would be, worth.

The Senate's financial disclosure forms are supposed to be a tool of honest government, and former Senator Ted Stevens was indicted for allegedly false disclosures. Mr. Dodd's miraculous property reappraisal is further grist for Senate and Justice investigators -- and especially for voters in 2010.

Bob Jensen's on how the most criminal class writes the laws are at http://www.trinity.edu/rjensen/FraudRotten.htm#Lawmakers


Education Tutorials

Creative Commons --- http://en.wikipedia.org/wiki/Creative_Commons
Creative Commons Home Page --- http://creativecommons.org/
Creative Commons Directory of Resources --- http://wiki.creativecommons.org/Content_Curators 

Creative Commons Free Video --- http://wiki.creativecommons.org/Content_Curators

Bob Jensen's threads on general education tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#EducationResearch


Engineering, Science, and Medicine Tutorials

Bob Jensen's threads on free online science, engineering, and medicine tutorials are at --- http://www.trinity.edu/rjensen/Bookbob2.htm#Science


Social Science and Economics Tutorials

Why Researchers Should Always Check for Outliers, and What To Do About Them --- http://gearybehaviourcenter.blogspot.com/2009/06/why-researchers-should-always-check-for.html

Mike Kearl's Website --- http://www.trinity.edu/mkearl/

Great Minds in Sociology --- http://www.sociosite.net/topics/sociologists.php

From Mike Kearl
Need to find out what a dollar in 1917 is worth in 2007? Examine postwar inflation rates in transportation rates in the South? Take advantage of the U.S. Bureau of Labor Statistics Consumer Price Indices or EH.NET's "How Much Is That" websites.    (For British conversions from 1264 to 2002, click here.) Speaking of conversions, there are 8,100 conversions and calculators at Online Conversion.com--"Convert just about Anything to Anything else."
More data links --- http://www.trinity.edu/mkearl/data.html

"The Top 10 Most Absurd Time Covers of The Past 40 Years:  Mr. Luce's mag does satanism, porn, crack, Pokemon, and more!" by Jeff Winkler and Radley Balko, Reason Magazine, June 10, 2009 --- http://www.reason.com/news/show/134038.html

Karl Marx was a vehement racist and anti-Semite (yes, even though both his grandfathers were rabbis!) This particular quote is not an aberration but very typical of both his and Engel's thoughts.
Free Republic, June 14, 2009 ---
http://www.freerepublic.com/tag/news-forum/index?more=2271681 
Marx-Engels Correspondence, 1862 --- http://www.marxists.org/archive/marx/works/1862/letters/62_07_30a.htm

Free Book
Ten Great Economists:  From Marx to Keynes --- http://mises.org/books/tengreateconomists_schumpeter.pdf

Bob Jensen's threads on Economics, Anthropology, Social Sciences, and Philosophy tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#Social


Law and Legal Studies

Bob Jensen's threads on law and legal studies are at http://www.trinity.edu/rjensen/Bookbob2.htm#Law


Math Tutorials

Why Researchers Should Always Check for Outliers, and What To Do About Them --- http://gearybehaviourcenter.blogspot.com/2009/06/why-researchers-should-always-check-for.html

Bob Jensen's threads on free online mathematics tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#050421Mathematics


History Tutorials

Art and Art History --- http://www.trinity.edu/mkearl/arthist.html
Mike Kearl's Website --- http://www.trinity.edu/mkearl/

Great Minds in Sociology --- http://www.sociosite.net/topics/sociologists.php

"The Top 10 Most Absurd Time Covers of The Past 40 Years:  Mr. Luce's mag does satanism, porn, crack, Pokemon, and more!" by Jeff Winkler and Radley Balko, Reason Magazine, June 10, 2009 --- http://www.reason.com/news/show/134038.html

Karl Marx was a vehement racist and anti-Semite (yes, even though both his grandfathers were rabbis!) This particular quote is not an aberration but very typical of both his and Engel's thoughts.
Free Republic, June 14, 2009 ---
http://www.freerepublic.com/tag/news-forum/index?more=2271681 
Marx-Engels Correspondence, 1862 --- http://www.marxists.org/archive/marx/works/1862/letters/62_07_30a.htm

Free Book
Ten Great Economists:  From Marx to Keynes --- http://mises.org/books/tengreateconomists_schumpeter.pdf

 

Bob Jensen's threads on history tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#History
Also see http://www.trinity.edu/rjensen/ElectronicLiterature.htm  


Language Tutorials

Bob Jensen's links to language tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#Languages


Music Tutorials

Naxos Classical Music and Music Education Site --- http://naxos.com/education/links_other.asp

Cliburn Competition (Piano) Awards Two Gold Medals (listen to the two gold medal winners) ---
http://www.npr.org/templates/story/story.php?storyId=104883567

Mozart's 'Don Giovanni' (Houston Grand Opera's terrific  full performance) --- http://www.npr.org/templates/story/story.php?storyId=15828636 

Tchaikovsky's 'The Queen of Spades' From the Vienna State Opera (Act 1) --- http://www.npr.org/templates/story/story.php?storyId=17818105

A Sampling of Stormy Classical Music --- http://www.npr.org/templates/story/story.php?storyId=4776354

 

Bob Jensen's threads on free music tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#050421Music


Writing Tutorials

Bob Jensen's helpers for writers are at http://www.trinity.edu/rjensen/Bookbob3.htm#Dictionaries


Updates from WebMD --- http://www.webmd.com/


"How Safeway Is Cutting Health-Care Costs," by Steven A. Burd, The Wall Street Journal, June 12, 2009 ---
http://online.wsj.com/article/SB124476804026308603.html


Oprah Winfrey's Dangerous Cosmetic and Medical Advice

Newsweek Magazine claims that Oprah has intentionally or unknowingly peddled over the years. She refused to cooperated with the authors of the article below.

"Crazy Talk: Wish Away Cancer, Eradicate Autism, Turn Back the Clock, Cure Menopause, Harness Positive Energy, Erase Wrinkles, Banish Obesity, etc." by Weston Kosova and Pat Wingert, Newsweek Magazine Cover Story, June 8, 2009, pp. 55-61 --- http://www.newsweek.com/id/200025 

Note that the title in the printed copies of Newsweek differs slightly in the electronic version.


Before reading the article below, you may want to read about Asperger's Syndrome at
http://en.wikipedia.org/wiki/Asperger%27s_Syndrome

"Higher Education and Asperger's Syndrome," by Jennifer Lynn Hughes, Chronicle of Higher Education, June 26, 2009 ---
http://chronicle.com/weekly/v55/i40/40a02701.htm?utm_source=wb&utm_medium=en

Two years ago, one of my students came to my office and told me that she wanted to major in psychology. It was her second try at Agnes Scott College, having dropped out a decade earlier. During that time she was diagnosed with Asperger's syndrome, and she was back to try again, armed with knowledge about her diagnosis.

This time she's making it because she's getting the help she needs.

Asperger's syndrome, first listed in the American Psychiatric Association's manual of mental disorders in 1994, affects two to six of every 1,000 Americans, according to the National Institutes of Health. People who have the disorder often have social difficulties, verbal and nonverbal communication problems, and repetitive and restricted activities. Students with Asperger's are often seen as eccentric or odd, but many have a normal or higher-than-average IQ, as well as an exceptional talent in one specific area — traits that make them likely to want to attend college. For such students, however, college presents significant challenges related to adjustment, organization, and social interaction. They often experience sensory overload and misunderstandings because of their overly literal thinking.

The Americans With Disabilities Act is clear that colleges must make reasonable accommodations for students with Asperger's if those students request them. But the law doesn't define "reasonable accommodations," and campus disability offices vary in what they offer. They are having to learn as they go, because unfortunately there is little published literature about how to help, and what information does exist is not presented in a comprehensive list. The most common accommodations that disability offices use include additional time on exams, alternative exam locations, tutoring, or mentors. But much more can and should be done.

To start with, several weeks before orientation, residence-life staff members should give students with Asperger's a schedule of activities for the first week of college and an overview of what to expect. While such schedules are of course helpful for all students, they are especially so for those with Asperger's, as they can have difficulty adjusting to change.

Some experts argue that students with Asperger's should live at home during the first year of college, but if that is not possible or the student chooses not to, a single room might be advisable. A quiet dormitory room can provide a safe space. Also, dining halls can be a challenge because of sensory overload, so students with Asperger's often skip meals if not given alternatives, such as residence halls with kitchens.

During orientation, it is especially helpful for students to get a tour of the campus that includes the bookstore, the tutoring center, and the public-safety, disability, and counseling offices. Again, while such tours are helpful for most students, those with Asperger's may need them even more because they often are not skilled at finding or taking advantage of resources. They often don't know where to go for help, so the disability office should have information on the college Web site, with a contact person specified.

Students with Asperger's should be encouraged by their families to register with the disability office. Disability staff members can be valuable sources of academic advice and support. They can help students set up time-management systems, which are especially beneficial because students with Asperger's often have problems knowing how much time it takes to accomplish tasks (many students can benefit, for example, from programming their cellphones with timers and reminder messages). Staff members should encourage students with Asperger's to take breaks between classes and to assume a lighter course load in the first year. Finally, staff members should continue to keep in contact throughout the school year, all the while watching for depression, anxiety, or eating disorders — and recommend counseling if needed.

Professors, if they know of a student's diagnosis, can also be a tremendous help. They should be aware, for example, that students with Asperger's usually have strong rote memory skills but can get fixated on details and be unable to see the big picture. Students with Asperger's also often display classroom behaviors that may seem disrespectful. However, if a professor knows that a student is, for example, showing poor eye contact because he or she finds it distracting to look at people and listen or think at the same time, the professor might not misinterpret such behavior as rudeness or inattention.

Students with Asperger's also can have problems interacting with others because of their inability to pick up on social and emotional cues. For example, they may interrupt others to change the topic of conversation to one that they prefer to talk about. Professors can help monitor classroom interactions and smooth over such interruptions (while making sure not to reveal a student's diagnosis, of course).

Faculty members can help students with Asperger's succeed in many other ways if they:

Give clear instructions on assignments, including deadlines.

Provide organization and structure to lectures by summarizing important points from the prior class, stating the key information to be covered that day at the beginning of each lecture, and summarizing main ideas at the end of class.

Ensure that some visual learning is included in their courses.

Share PowerPoint slides with students with Asperger's before class.

Ensure that student work groups include students with Asperger's, even if that means assigning the groups.

Allow students with Asperger's to send assignments by e-mail so they do not lose or forget them.

Help them break down assignments into manageable parts.

Encourage them to use computers to type assignments and even to take exams, as they usually have poor handwriting.

Assign peer tutors to clarify assignments and supplement notes.

Encourage students with Asperger's to seek help at the writing center, use note-takers assigned by the disability office, work on study questions, attend review sessions, and write papers without original sources at hand to avoid inadvertent plagiarism.

Even if only a few staff and faculty members put some of these strategies in place, students with Asperger's can greatly benefit. By being proactive, we can help prevent them from getting too frustrated, which can increase their retention and graduation rates. The more educated and aware a campus is about the needs of students with Asperger's, the better their chances are of succeeding in college.

Jennifer Lynn Hughes is an associate professor of psychology and vice chair of the psychology department at Agnes Scott College.

June 23, 2009 reply from Linda A Kidwell, University of Wyoming [lkidwell@UWYO.EDU]

I have a girl in my scout troop with Asperger's, and much of this article is spot-on. Her mother tells me that many people we used to perceive as nerdy computer-geek types were likely people with this syndrome. Many are drawn to computer science because of its high level of technical detail and the lack of a high level of social interaction. Many with Asperger's, according to the mom, are fascinated with the minute details and will talk endlessly about them but demonstrate complete lack of interest in topics of interest to others -- I have certainly observed this in her case. Accounting is unlikely to be as appealing in its modern form because of the high level of social engagement required, as opposed to the stereotypical green eyeshades days.

This thread has also reminded me of my experience with a hearing-impaired student a few years back. I made relatively minor modifications for her, such as making sure I faced the class when I spoke and assigning her to a group with her friends. I usually break up cliques, but I knew that her friends understood how to work effectively and inclusively with her whereas others might get impatient with repeating themselves, etc. What I didn't expect was that this made me an exceptional professor for her. I got invited to speak to faculty groups about working with the deaf and hearing impaired, honored for my efforts, etc. I just thought I was doing my job! But apparently, sadly, many faculty are not so reasonable about making adjustments. Students with Asperger's are likely to be much more high-need, in some courses especially, so they must have a pretty tough go of it.

Linda K.

June 24, 2009 reply from Rowena Rayner [r.rayner@QUT.EDU.AU]

Hi Linda,

Thank you for sharing your story. You are right, people with a hearing loss do not want to be treated any differently from other people though just understanding and considering their circumstances and their requirements to adapt to their environment is important. (A hearing loss has nothing to do with a person's intelligence.) Giving this consideration, you will always be an exceptional professor.

Rowena R (A student with a hearing loss.)

Bob Jensen's threads on education technologies for special needs students ---
http://www.trinity.edu/rjensen/000aaa/thetools.htm#Handicapped
You can read some of Linda Kidwell's earlier messages about teaching hearing-impaired students at the above link.




Hide and Sing
"Hidden genitalia in female water striders makes males 'sing'," PhysOrg, June 11, 2009 --- http://www.physorg.com/news163938148.html


10 Ways You Know You're Married to a Geek Dad --- Click Here
http://www.wired.com/geekdad/2009/06/top-10-ways-you-know-you%E2%80%99re-married-to-a-geekdad/

1. You spend your honeymoon at a theme park. (Sadly, Legoland wasn’t built then…)

2. You never know when you’ll walk into the dining room to find the table covered with a computer broken down into all its component parts.

3. He installs stilts under the legs of your bed so his comic book boxes can fit underneath.

4. He keeps his spare change in a Miss Piggy bank (with a coin slot where her cleavage would be).

5. The ornaments on your Christmas tree consist of Romulan Warbirds, shuttlecraft, and Borg cubes.

6. He asks you to dress up as Catwoman for Halloween. (Sorry, no photo of that one!)

7. He’ll patiently spend an hour building a tower for your four-year-old Superman to break down – and then comfort him when it collapses prematurely.

8. He spent more for his bicycles (and each of the kids’ bicycles) than for some of the cars you’ve owned.

9. Your kids’ college fund consists of a trunkful of first issues of his favorite comic books.

10. He’ll sit down with the kids and read through the trunkful of first issues, college fund be damned. (Well, maybe not Watchmen #1.)


"Fox steals more than 100 shoes," Reuters, June 12, 2009 ---
http://news.yahoo.com/s/nm/20090612/od_nm/us_germany_fox
Jensen Comment
What this article fails to mention is that the fox was under contract from Fergie who says her 500 pairs of shoes just are not enough --- Click Here


Forwarded by Paula

These were posted on an Australian Tourism Website and the answers are the actual responses by the website officials, who obviously have a great sense of humour.
__________________________________________________
Q: Does it ever get windy in Australia ? I have never seen it rain on TV, how do the plants grow?  (UK ).
A: We import all plants fully grown and then just sit around watching them die.
__________________________________________________
Q: Will I be able to see kangaroos in the street?  ( USA )
A: Depends how much you've been drinking.
__________________________________________________
Q: I want to walk from Perth to Sydney - can I follow the railroad tracks?  (Sweden)
A: Sure, it's only three thousand miles, take lots of water.
 __________________________________________________
Q: Are there any ATMs (cash machines) in Australia ? Can you send me a list of them in Brisbane, Cairns, Townsville and HerveyBay?  ( UK )
A: What did your last slave die of?
 __________________________________________________
Q: Can you give me some information about hippo racing in Australia ? ( USA)
A: A-fri-ca is the big triangle shaped continent south of Europe.  Aus-tra-lia is that big island in the middle of the Pacific which does not.... oh forget it. Sure, the hippo racing is every Tuesday night in Kings Cross. Come naked.
__________________________________________________
Q: Which direction is North in Australia?  ( USA )
A: Face south and then turn 180 degrees.  Contact us when you get here and we'll send the rest of the directions.
_________________________________________________
Q: Can I bring cutlery into Australia ? ( UK )
A: Why? Just use your fingers like we do.
 __________________________________________________
Q: Can you send me the Vienna Boys' Choir schedule? ( USA )
A: Aus-tri-a is that quaint little country bordering Ger-man-y, which is…oh forget it. Sure, the Vienna Boys Choir plays every Tuesday night in Kings Cross, straight after the hippo races. Come naked.
__________________________________________________
Q: Can I wear high heels in Australia?  ( UK )
A: You are a British politician, right?
 ____________________________ ______________________
Q: Are there supermarkets in Sydney and is milk available all year round? (Germany)
A: No, we are a peaceful civilization of vegan hunter/gatherers.  Milk is illegal.
__________________________________________________
Q: Please send a list of all doctors in Australia who can Dispense rattlesnake serum. (USA)
 A: Rattlesnakes live in A-meri-ca which is where YOU come from.  All Australian snakes are perfectly harmless, can be safely handled and make good pets.
__________________________________________________
Q: I have a question about a famous animal in Australia, but I forget its name. It's a kind of bear and lives in trees.  (USA )
A: It's called a Drop Bear.  They are so called because they drop out of Gum trees and eat the brains of anyone walking underneath them.  You can scare them off by spraying yourself with human urine before you go out walking.
__________________________________________________
Q: I have developed a new product that is the fountain of youth.  Can you tell me where I can sell it in Australia?  (USA )
A: Anywhere significant numbers of Americans gather.
__________________________________________________
Q: Can you tell me the regions in Tasmania where the female population is smaller than the male population? (Italy )
A: Yes, gay night clubs.
__________________________________________________
Q: Do you celebrate Christmas in Australia?  (France )
A: Only at Christmas.
 __________________________________________________
Q: I was in Australia in 1969 on R+R, and I want to contact the Girl I dated while I was staying in Kings Cross. Can you help? (USA )
A: Yes, and you will still have to pay her by the hour.
 __________________________________________________
Q: Will I be able to speak English most places I go?  ( USA )
A: Yes, but you'll have to learn it first.


The 10 Dumbest Tech Products So Far ---
http://www.pcworld.com/article/165546/the_10_dumbest_tech_products_so_far.html




Tidbits Archives --- http://www.trinity.edu/rjensen/TidbitsDirectory.htm

Click here to search Bob Jensen's web site if you have key words to enter --- Search Site.
For example if you want to know what Jensen documents have the term "Enron" enter the phrase Jensen AND Enron. Another search engine that covers Trinity and other universities is at http://www.searchedu.com/

World Clock --- http://www.peterussell.com/Odds/WorldClock.php
Facts about the earth in real time --- http://www.worldometers.info/

Interesting Online Clock and Calendar --- http://home.tiscali.nl/annejan/swf/timeline.swf
Time by Time Zones --- http://timeticker.com/
Projected Population Growth (it's out of control) --- http://geography.about.com/od/obtainpopulationdata/a/worldpopulation.htm
         Also see http://users.rcn.com/jkimball.ma.ultranet/BiologyPages/P/Populations.html
        
Facts about population growth (video) --- http://www.youtube.com/watch?v=pMcfrLYDm2U
Projected U.S. Population Growth --- http://www.carryingcapacity.org/projections75.html
Real time meter of the U.S. cost of the war in Iraq --- http://www.costofwar.com/ 
Enter you zip code to get Census Bureau comparisons --- http://zipskinny.com/
Sure wish there'd be a little good news today.

Three Finance Blogs

Jim Mahar's FinanceProfessor Blog --- http://financeprofessorblog.blogspot.com/
FinancialRounds Blog --- http://financialrounds.blogspot.com/
Karen Alpert's FinancialMusings (Australia) --- http://financemusings.blogspot.com/

Some Accounting Blogs

Paul Pacter's IAS Plus (International Accounting) --- http://www.iasplus.com/index.htm
International Association of Accountants News --- http://www.aia.org.uk/
AccountingEducation.com and Double Entries --- http://www.accountingeducation.com/
Gerald Trites'eBusiness and XBRL Blogs --- http://www.zorba.ca/
AccountingWeb --- http://www.accountingweb.com/   
SmartPros --- http://www.smartpros.com/

Bob Jensen's Sort-of Blogs --- http://www.trinity.edu/rjensen/JensenBlogs.htm
Current and past editions of my newsletter called New Bookmarks --- http://www.trinity.edu/rjensen/bookurl.htm
Current and past editions of my newsletter called Tidbits --- http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Current and past editions of my newsletter called Fraud Updates --- http://www.trinity.edu/rjensen/FraudUpdates.htm

Online Books, Poems, References, and Other Literature
In the past I've provided links to various types electronic literature available free on the Web. 
I created a page that summarizes those various links --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm

The Master List of Free Online College Courses --- http://universitiesandcolleges.org/

Shared Open Courseware (OCW) from Around the World: OKI, MIT, Rice, Berkeley, Yale, and Other Sharing Universities --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI

Free Textbooks and Cases --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks

Free Mathematics and Statistics Tutorials --- http://www.trinity.edu/rjensen/Bookbob2.htm#050421Mathematics

Free Science and Medicine Tutorials --- http://www.trinity.edu/rjensen/Bookbob2.htm#Science

Free Social Science and Philosophy Tutorials --- http://www.trinity.edu/rjensen/Bookbob2.htm#Social

Free Education Discipline Tutorials --- http://www.trinity.edu/rjensen/Bookbob2.htm

Teaching Materials (especially video) from PBS

Teacher Source:  Arts and Literature --- http://www.pbs.org/teachersource/arts_lit.htm

Teacher Source:  Health & Fitness --- http://www.pbs.org/teachersource/health.htm

Teacher Source: Math --- http://www.pbs.org/teachersource/math.htm

Teacher Source:  Science --- http://www.pbs.org/teachersource/sci_tech.htm

Teacher Source:  PreK2 --- http://www.pbs.org/teachersource/prek2.htm

Teacher Source:  Library Media ---  http://www.pbs.org/teachersource/library.htm

Free Education and Research Videos from Harvard University --- http://athome.harvard.edu/archive/archive.asp

VYOM eBooks Directory --- http://www.vyomebooks.com/

From Princeton Online
The Incredible Art Department --- http://www.princetonol.com/groups/iad/

Online Mathematics Textbooks --- http://www.math.gatech.edu/~cain/textbooks/onlinebooks.html 

National Library of Virtual Manipulatives --- http://enlvm.usu.edu/ma/nav/doc/intro.jsp

Moodle  --- http://moodle.org/ 

The word moodle is an acronym for "modular object-oriented dynamic learning environment", which is quite a mouthful. The Scout Report stated the following about Moodle 1.7. It is a tremendously helpful opens-source e-learning platform. With Moodle, educators can create a wide range of online courses with features that include forums, quizzes, blogs, wikis, chat rooms, and surveys. On the Moodle website, visitors can also learn about other features and read about recent updates to the program. This application is compatible with computers running Windows 98 and newer or Mac OS X and newer.

Some of Bob Jensen's Tutorials

Accounting program news items for colleges are posted at http://www.accountingweb.com/news/college_news.html
Sometimes the news items provide links to teaching resources for accounting educators.
Any college may post a news item.

Accountancy Discussion ListServs:

For an elaboration on the reasons you should join a ListServ (usually for free) go to   http://www.trinity.edu/rjensen/ListServRoles.htm
AECM (Educators)  http://pacioli.loyola.edu/aecm/ 
AECM is an email Listserv list which provides a forum for discussions of all hardware and software which can be useful in any way for accounting education at the college/university level. Hardware includes all platforms and peripherals. Software includes spreadsheets, practice sets, multimedia authoring and presentation packages, data base programs, tax packages, World Wide Web applications, etc

Roles of a ListServ --- http://www.trinity.edu/rjensen/ListServRoles.htm
 

CPAS-L (Practitioners) http://pacioli.loyola.edu/cpas-l/ 
CPAS-L provides a forum for discussions of all aspects of the practice of accounting. It provides an unmoderated environment where issues, questions, comments, ideas, etc. related to accounting can be freely discussed. Members are welcome to take an active role by posting to CPAS-L or an inactive role by just monitoring the list. You qualify for a free subscription if you are either a CPA or a professional accountant in public accounting, private industry, government or education. Others will be denied access.
Yahoo (Practitioners)  http://groups.yahoo.com/group/xyztalk
This forum is for CPAs to discuss the activities of the AICPA. This can be anything  from the CPA2BIZ portal to the XYZ initiative or anything else that relates to the AICPA.
AccountantsWorld  http://accountantsworld.com/forums/default.asp?scope=1 
This site hosts various discussion groups on such topics as accounting software, consulting, financial planning, fixed assets, payroll, human resources, profit on the Internet, and taxation.
Business Valuation Group BusValGroup-subscribe@topica.com 
This discussion group is headed by Randy Schostag [RSchostag@BUSVALGROUP.COM

Many useful accounting sites (scroll down) --- http://www.iasplus.com/links/links.htm

 

Professor Robert E. Jensen (Bob) http://www.trinity.edu/rjensen
190 Sunset Hill Road
Sugar Hill, NH 03586
Phone:  603-823-8482 
Email:  rjensen@trinity.edu