How would you like to run in this?

From Fox News…

The Chinese capital was shrouded in a thick, gray haze of pollution Sunday, just 12 days before the opening ceremony of the Beijing Olympic Games. One expert warned that drastic measures enacted to cut vehicle and factory emissions in the city were no guarantee skies would be clear during competitions.

The pollution was among the worst seen in Beijing in the past month, despite traffic restrictions enacted a week ago that removed half of the city’s vehicles from roadways.

Visibility was a half mile (less than 1 kilometer) in some places. During the opening ceremony of the Athletes’ Village on Sunday, the housing complex was invisible from the nearby main Olympic Green.

h/t Crunchy Con.

Rant of the Week: 7/27/08–8/2/08

The Chieftain of Seir recently wrote an essay arguing that authority is weak all over the world and that it would only take worldwide economic problems to shatter political stability the world over. One of the things that he linked to in support of his case was this rant by Le Pen.

Now we are no great fans of Le Pen (this reasonably fair overview of the man) but we think it is important to listen to the voices of those who are likely to be empowered by economic problems. For better or for worse, the arguments of Le Pen are the future of France

Control thoughts and you control reality

Or at least, that is what the SEC must be hoping. From Macro Man…..

At the same time, we have news that the SEC is looking at policing market rumours, particularly those surrounding the financials. Something tells Macro Man that this will be a one-way street; anyone suggesting that, for example, PIMCO and SAC have pulled Lehman’s line will face reprisals, but anyone suggesting that Warren Buffett is going to buy Lehman for $100 per share will remain unscathed. The UK has a head start on this particular slippery slope, with the FSA pursuing banking sector rumour-mongers and imposing farcically low disclosure thresholds for short interest in banks doing rights issues.

It’s all vaguely 1984-ish to Macro Man. If you use inappropriate language about a bank, they’ll do you. If you sell the wrong bank short, they’ll do you. If you wonder aloud on possible forthcoming bad news about a bank, they’ll do you. Perhaps sellside analysts should just cut to the chase and rate every financial out there with a “Doubleplusgood” rating. Who knew that MiFID stood for the “Ministry of Financial Information Dissemination.”?

Take New York City if you must, but please don't hurt our computers

From World Net Daily….

“Several potential adversaries have the capability to attack the United States with a high-altitude nuclear weapon-generated electromagnetic pulse, and others appear to be pursuing efforts to obtain that capability,” said Graham. “A determined adversary can achieve an EMP attack capability without having a high level of sophistication. For example, an adversary would not have to have long-range ballistic missiles to conduct an EMP attack against the United States. Such an attack could be launched from a freighter off the U.S. coast using a short- or medium-range missile to loft a nuclear warhead to high altitude. Terrorists sponsored by a rogue state could attempt to execute such an attack without revealing the identity of the perpetrators. Iran, the world’s leading sponsor of international terrorism, has practiced launching a mobile ballistic missile from a vessel in the Caspian Sea. Iran has also tested high-altitude explosions of the Shahab-III, a test mode consistent with EMP attack, and described the tests as successful. Iranian military writings explicitly discuss a nuclear EMP attack that would gravely harm the United States. While the commission does not know the intention of Iran in conducting these activities, we are disturbed by the capability that emerges when we connect the dots.”