BASF is a huge german corporation that produced Zyklon B, the gas used in Ausschwitz to kill thousands of people. They're still going strong. It is by far not the only german corporation that benefitted greatly from the Holocaust. Take IBM for example, they delivered card-computing systems to manage concentration camp popula... Oh shit! IBM is american, my bad.
The Bundeswehr, the german military, was run by Nazi Generals in its early years. Just this year there were several scandals concerning Neo Nazis among their ranks.
A lot of people benefited from the atrocities of the third Reich. Don't kidd yourself. Remember, Hitler hired Ferdinand Porsche to develop the Volkswagen. The development of the VW Beetle was started by the Fuehrer.

It has a fan driven by the main gearbox. It's pretty rare for those to fail, but does spin like it lost control of yaw though. My first thought was since it's landing so close to the edge of that cliff, if the wind is moving from the right to left, there is going to be a big updraft coming over the cliff.

Watching it again, it looks like the pilot is having to fight some wind and seems to be having trouble keeping it down. Between 40-45 seconds, it looks like the wind changes as the helicopter appears to lift up and weather-vane into the wind just before losing control.

I found this video which is in German. If the Google auto-translate isn't too off, it says the cause is still unknown, but whoever they're interviewing at the end speculates that the helicopter was too heavy for the altitude it was operating at.

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That's a Hoplite (Mi-2), our nearby helicopter museum has one. Paint job is neither Polish nor East German though, so I'll go with Ukraine or maybe Belarus.

Voting republiklan if you are not in the 1% is at best a form of suicide and at worse akin to being a good German citizen during hitler's time in power.

Yeah, the bombing was pretty heavy, especially since Churchill was expecting the Germans to begin bombing Britain soon so he held the RAF back (for the most part) instead of providing air support.

Although the movie made it seem like the troops and boats were pretty helpless, it HARDLY conveyed the amount of bombing (according to this video) that was being done by the Germans. Good movie though. Constant suspense.

MINTY! As a 'medium' timer who admired your 'work' here immensely, I am delighted you've popped in for an update. My heart goes out to you for your furry losses, always emotionally painful to endure. I must say that your recent additions, Nico and Tiny, are fine looking german shepherds indeed! Keep on truckin' dear one and hope to hear from you again sooner rather than later. Comforting virtual hugs from yer Playhouse Pals, cheRi, Jake and Elwood

15:05-15:30: you tell Mr and Mrs Front-Porch that your loonie of 1871 cannot be compared to your loonie of 2013 (year of this interview). You went off the gold standard in '33, you abandoned the peg in '70, and your currency has been free-floating ever since. Yes, the ratio of debt to GDP has some importance, but so does the nature of your currency. Just look at Greece and Japan, where the former uses a foreign currency and the latter uses its own, sovereign, free-floating currency.

Pay back the national debt -- have you thought that through?

First, the Bank of Canada is the monopolist currency issuer for the loonie, so explain to me in detail just how the issuer of the currency is supposed to borrow the currency from someone else? If you're the issuer of the currency, you spend it into existence, and use taxation as a means to create demand for your currency, and to free resources for the government to acquire, because you can only ever buy what is for sale.

Second, every government bond is someone else's asset. An interest-bearing asset. A very safe asset, in the case of Canada, the US, the UK, Japan, etc. "Paying back the debt" means putting a bullet into just about every pension fund in the world that doesn't rely exlusively on private equity or other sorts of volatile toilet paper.

There's a distributional issue with these bonds (they are concentrated in the hands of the non-working class, aka the rich), no doubt about it. But most of the other issues are strictly political, not economical.

What if the interest rate rises 1%? The central bank can lower the interest rate to whatever it damn well pleases, because nobody can ever outbid the currency issuer in its own currency. Remember, the central banks were the banks of the treasuries. The whole notion of an independent central bank was introduced to stop these pesky leftists from spending resources on plebs. That's why central banks were often removed from democratic control and handed over to conservative bankers. If the Treasury wants an interest rate of 2% on its bonds, it tells its central bank to buy any excess that haven't been auctioned off at this rate. End of story.

What if the market stops buying government bonds? Then the central bank buys the whole lot. However, government bonds are safe assets, and regulations demand a certain percentage of safe assets in certain portfolios, so there is always demand for the bonds. Just look at the German Bundesanleihen. You get negative real rates on 10 year bonds, and they are still in very high demand. It's a safe asset in a world of shitty private equity vaporware.

But, but.... inflation! Right, the hyperinflation of 2006 is still right around the corner. Just like Japan hasn't been stuck near deflation for two decades, and all the QE by the BoE and the ECB has thrown both the UK and the Eurozone into double-digit inflation territory. Not! None of these economies are running near maximum capacity/full employment, and very little actual spending (the scary, scary "fiscal policy") has been done.

But I'm going off track here, so.... yeah, you can pay back your public debt. Just be very aware of what exactly that entails.

As for the poster-child Latvia: >10% of the population left the country.

Here's a different poster-child instead, with the hindsight of another 4 years of austerity in Europe after this interview: Portugal. The Portuguese government told Master of Coin Schäube to take a hike, and they are now in better shape than the countries who just keep on slashing.

On a different note: Marx was wrong about the proletariat. Treating them like shit doesn't make them rebellious, it makes them lethargic. Otherwise goons like Mario Rajoy would have had their comeuppance by now.

PS: Blyth's book on Austerity is an absolute must-read for anyone interested in its history or its current effects in particularly the Eurozone.

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ECB Research Bulletin:

In an economy with its own fiat currency, the monetary authority and the fiscal authority can ensure that public debt denominated in the national fiat currency is non-defaultable, i.e. maturing government bonds are convertible into currency at par. With this arrangement in place, fiscal policy can focus on business cycle stabilisation when monetary policy hits the lower bound constraint. However, the fiscal authorities of the euro area countries have given up the ability to issue non-defaultable debt. As a consequence, effective macroeconomic stabilisation has been difficult to achieve.

Translation:
- all members of the eurozone effectively use a foreign currency
- they can default, because they do not and cannot issue debt in their currency
- fiscal policy has thus been completely neutered

Ergo, national parliaments have a significantly smaller policy space compared to countries with their own currency. Our parliaments intentionally surrender power to unelected technocrats, even control of the national budget, which is the primary power available to any parliament anywhere.

"Sorry, lad. We cannot pay for healthcare/pension/infrastructure/education/wages/X, we have to maintain a balanced budget to appease the market." Yet it is still illegal to call for the guillotine...

Meanwhile, Japan doesn't give a fuck. The BoJ has been vacuuming up outstanding debt like there's no tomorrow. It currently holds in excess of 40% of all government debt, effectively canceling it. It's just book-keeping. The Treasury issues the debt, the CB buys the debt. Both are part of the consolidated government sector, ergo no debt. "Hyperinflation!", they scream. Can you hear them? Except Japan has been fighting deflation for two decades, with no end in sight.

Yet the inflation-hawks are still treated as persons of authority. Flat-earthers, the lot of 'em.

And my country wants the rest of Europe to sign on to the most moronic law in German history: the "Schuldenbremse", which makes running a deficit illegal at the constitutional level (except for undefined "emergencies"). They are either a) brainwashed, b) idiots, or c) straight up evil. And I'm not sure which one I prefer.

No one should be able to say, "Is it safe?" in a German accent for at least another thirty years.

It's hard for me to know why Putin is doing what he's doing. When he moved on Crimea, was he doing it because of the advance of European influence closer to Russia's borders? He's short on good allies unlike 'the west', so can he let people chip away at his comfort zone? Or is he a crazed imperialist?

I don't know. Why don't I know?

Because my government have shown themselves over the years to be a bunch of twats who will literally tell bare faced lies, whilst smiling, and when confronted with the horrors of what they've done they throw their heads back and laugh like a fucking sea lion swallowing a fish whole. And that's what they've done to their OWN PEOPLE. To other countries countries we declare war and send in the multinationals to rape their resources. I consider the invasion of Iraq equally dodgy as the invasion of Crimea. So my moral compass for what's ok and not ok no longer has a baseline.

On the other side, a bunch of people who used to know how the world worked back in 1970 probably thought propaganda was the best way to whip up some nationalistic pride and resentment toward the reds, but in 2017 the majority of young people don't trust a single word they say. So these 70 year old media mogul billionaires can't even tell a believable truth anymore - even if Putin's tanks were half way down my street i'd have to clap eyes on them before i could be sure.

Plus Russia's leadership is Putin himself, he's the spearhead, and he's very cunning. Our leadership is spread across a set of democratically elected people, half of which are both incompetent and self interested, while half of those remaining are merely one or the other. It's easier for one person to look competent and assured. Someone like Merkel has to share the associated incompetency of whatever the German equivalent of her 'cabinet' is.

*doublepromote

Mark's been on the money since about the time he wrote "Austerity: The History of a Dangerous Idea", but there have been two significant developments in Europe that he seemingly didn't see coming: Portugal and the UK.

The Left Alliance in Portugal has basically been giving Schäuble the finger for two years now, with their unilateral end to austerity. How dare they defy the master of coin?! If Schäuble says you need another round of austerity, by God, you better tighten your belts, even if they are already around your neck.

Unsurprisingly, everyone going along with austerity without having a completely export-dependent economy is in deep doo-doo. Meanwhile, those pesky Portuguese actually managed to massively reduce unemployment, despite running a deficit that is entirely too small for their current situation. But that's a different story.

And then there's the UK. There's Corbyn. Tribune of the Plebs. Managed to get the youth voting by offering actual left-wing policies (the "radical youth", as the NYT likes to call them, while claiming that the warmongering, Constitution-shredding, wage-depressing, ecosphere-destroying "centrists" are not the real radicals). Managed to turn quite a lot of UKIP voters around as well. Within striking distance of the Tories, despite the media running 24h a day of drivel like "Jezza's Jihadi Comrades" -- Goebbels would be ashamed of the crudeness of the propaganda campaign by the Sun/Daily Mirror/etc.

The populist left is back, bitches. Corbyn and Sanders are the first steps past the neoliberal warmongers of the Third Way. The Obama experience of a corporatist disguised as a left populist may have given us The Orange One, but it also put another nail into the coffin of neoliberalism.

Antonio Gramsci, founding member of the Italian communist party, who was killed by the fascist regime of Mussolini, gave us the appropriate description of our time:
"The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear."

That's your Trump. That's your opioid epidemic. That's the EU's austerity program in Greece, doing twice as much damage as the German occupation in WW2.