Helen Goodman MP is “Particularly Stupid”

I’m sorry, maybe I’m particularly stupid, but I haven’t understood how I get this software or this kit or whatever it is, this filter thingy that you click or whatever without buying a new computer and I don’t want to spend a thousand pounds just to have a filter. I just haven’t understood what I do, and you’ve been talking to us and I’ve been in this room for half an hour.

via Helen Goodman MP is “Particularly Stupid” by Terence Eden has a Blog.

Why? – This money thing is going out of fashion.

BBC News - Facebook ads: £100,000 bill for government - good value?

It turns out that as of 19 July, the government had spent £98,418.25 with Facebook on advertising the Great campaign. A spokesman said the campaign had achieved 472 million ad impressions leading to 782,000 ad clicks - and across the 13 Facebook pages, 583,000 "likes" had been generated.

via BBC News - Facebook ads: £100,000 bill for government - good value?.

Christopher Balding on the real risk in China

In the past 5-8 years, and especially the past 3, China has built an enormous amount of stuff that nobody wants, needs, or uses.  Fueled by a lending boom that began in late 2008 and tripled total lending in 2009, Chinese government at all levels has been spending money like a drunken sailor on leave.  What should scare people however, is just how poorly this money has been spent.

via Christopher Balding on the real risk in China.

RBS/ULSTER – I smell a smelly fish.

Further, according to Reuters daily statements last week, RBS cash assets stood at £82bn, whereas net loans were recorded as £476bn.But this might be the clincher: total deposits came in at £476bn…exactly the same as loans. However, the difference between total assets and total liabilities was around £60bn in the bank’s favour. Given the amount of potential toxic write-off in the RBS group – and any ‘rush’ following a downgrade – it wouldn’t require much to change that positive into a disturbing negative. With total fluid assets standing at around £930bn, zero outgoings over five days of a ‘computer glitch’ would give the bank a £73bn windfall. More than enough to stave off a crisis, and at least temporarily restore creditor confidence, if such was needed. At the same time, of course, it physically barred the way to a run on the bank.

via RBS/ULSTER ‘GLITCH’: Slog survey of users plus analysis of the numbers raise further doubts. | A diary of deception and distortion.

Bailout Funds for Euro barely 45% of whats needed.

A confidential American management consultancy report commissioned by the Troika shows conclusively using maths of which the awake folks are already well aware that the upcoming bailout needs are miles beyond what the total ESM/IMF/ECB funds could ever be.To quote from this report, of which I have had sight:“At a total maximum going forward of €850bn euros, the fund is, even in terms of known commitments, under 45% of what would be required to ensure the viability of the eurozone….bailout costs in 2012 we estimate to be €2.04 trillion, and these will continue to rise as long as zero sovereign intervention policy applies.”

via EXCLUSIVE: Troika continues to use flaky bonds for Greek bailout, explosive US report explains why | A diary of deception and distortion.

IPV6 is here and its going to be a bumpy ride.

[dead:beaf::1]
Today much of the internet backbone began the switch over to IPv6 making [dead:beaf::1] a valid IP address. But its going to be a bumpy ride to get off the IPv4 systems that are relied upon every day. Theres a good deal of software that either hasn't been ported or will never be ported because it just doesn't work in the IPv6 world, and its not just restricted to userlevel applications, it goes all the way down to kernel services.

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Morgan Stanley cut Facebook estimates just before IPO.

Overvalued, overhyped, and apparently somewhat corrupt. Its a new bubble.

Thomson Reuters Starmine, meanwhile, more conservatively estimates a 10.8 percent annual growth rate -- almost exactly the mean for the technology sector -- which would value the stock at $9.59 a share, a 72 percent discount to its IPO price.

via Reuters

In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company.

via Insight: Morgan Stanley cut Facebook estimates just before IPO | Reuters.

I refuse to tolerate assholes

As I realize that open source is going to define my professional life (and likely my personal one as well), my tolerance for assholes gets smaller and smaller. Unlike Rusty, I won’t simply stand by and allow these people to run amok. I will call out antisocial behavior, enforce professionalism in the communities where I have the power to do, and leave the communities that cannot at least offer civility.

via I refuse to tolerate assholes.