[foreclosures] as night follows day

Denninger says:

So Obama comes out with his "plan" to try to halt foreclosures.

It won't do it, but it sure sounds good.

I will give him an "F" for substance but an "A" for effort.

Why an "F" for substance? Because what he's trying to do fundamentally cannot be done.

The fundamental problem is that everything got levered up to the gills during the bubble years. Now all these "upside down" assets are a huge millstone around everyone's neck - a problem from which we cannot realistically escape by any means other than realizing the losses.

Why not? Because for nearly 20 years one of the fundamental requirements for sound lending - that is, the sharing of risk by the borrower and provision of a buffer against asset value declines (this is commonly known as a "down payment") was systematically removed from our financial system across all asset classes.

See, assets do not always rise in price. It doesn't matter whether the asset is a stock, a bond, a piece of real estate or anything else. This is especially true when one "pumps" asset prices through the provision of nearly-unlimited credit without regard for ability to pay.

Read the rest of it.

[can] damo suzuki

[wordless thursday] what's yours?

[one for the boys] get up to speed on your fragrances

Most men are clearly fazed by the range of fragrances [don’t call them perfumes] available at the counters.

Don’t be worried. Introduce it sometime in a discussion with your wife or not-wife and find out what her personal tastes and phobias run to.

Below is a starter to get you up and running.

Perfume is a combination of fragrant oils diluted in a high-grade alcohol in a concentration containing about 15-25 percent oil, the alcohol being about 90-95 percent pure. This is a parfum. Any mixture with a lower proportion of oil to alcohol is an eau (water).

EDC - Eau de cologne is the least concentrated form of a fragrance
(2 - 5% perfume oil dissolved in water and alcohol), then comes...
EDT - Eau de toilette (4 - 10%), followed by....
EDP - Eau de parfum (8 - 15%), and finally the most concentrated....
PARFUM or Perfume (15 - 25%).

Sarah Blackmoore [no link, sorry] categorizes the six types thus:

Earthy or woody type perfumes evoke smells of the forest, and are usually very refreshing. They often tend to appeal to the older generation, and may make ideal gifts.

Oriental fragrances use strong spicy scents, and are ideal for special social occasions, but be cautious giving them to anyone you don’t know well – these intense perfumes can be a very personal choice.

The so-called “greens” are much lighter than the orientals, and are well suited to more casual wear. Because they make a less dramatic assault on the nose, they are also safer to give as gifts!

Modern “oceanic” fragrances are becoming more and more popular, particularly among younger people who appreciate the intense but often quite unusual scents, which instantly bring to mind seaside scenes. Naturally these are an excellent choice in the warmer months when thoughts turn to holidays.

Spicy fruity perfumes are also a good warm-weather choice, and can be a good all-round choice for the woman who wants to wear something with some traditional base-notes but is a little different to the classic floral scents.

Finally, those classic floral fragrances are suitable for almost everyone and any occasion. But be wary of cheaper brands; this most feminine of all the main groups works best when the ingredients used are of high quality, and that means less expensive brands can smell exactly that.

For a longer article on the groupings, this hotch-potch, by Grant Osborne and other writers, could help.

The trouble is, your lady is possibly not going to want most of the above and many women I know have their own specialities which seem to go best with their bodies.

That’s the essential thing.

She might like one grouping for work use, one for evenings and so on. She might like one type but it doesn’t agree with her. The only surefire way is to discuss it with her over a period of time.

Then you can go to that counter and buy with confidence.

[new feudalism] defence might become a consideration

With the accession of the messiah in America, it’s becoming increasingly important over there which firearm to choose to defend your family and your constitution.

Now let me say from the outset that this site in no way, shape or form is promoting the use of guns or saying that you should rush out and buy one.

In fact, in Britain, where everything is completely in order and the government is much loved, where there is no culture of guns, no terrorism and complete racial harmony and if you did buy one, you’d end up incarcerated in a coffin with spikes on the inside, even if you made it that far, my advice is not to even think of purchasing any weaponry, of any sort, under any circumstances, at any time nor to consider, in the least, defending your family.

However, just for interest’s sake, in a lawless land somewhere on a far-off island, these might be your considerations:

Let’s face it, the main decision in your choice of weapon is going to be 9mm or 0.45. Whilst the stopping power of the 0.45 is desirable, the 9mm is far more readily available.

My personal choice would be the Heckler & Koch UMP. Wiki says:

As originally designed, the UMP is chambered for larger cartridges than the MP5. This was done in order to provide more stopping power against armored targets as well as increase the effective range over the MP5.

However, using a larger cartridge results in more recoil, making the weapon more difficult to control when firing in fully-automatic mode.

To counter this effect, the cyclic rate of fire was decreased to around 600 rounds per minute, making it one of the slower submachine guns in the market.

Such a slow rate of fire makes burst-fire settings impractical, yet many users cite the practicality of the 3-round burst or 2-round burst setting as a desirable feature in a submachine gun.

The only other one I’d look at is the HK MP5K. Wiki says:

It is widely considered to be one of the best close quarter battle (CQB) weapons in the world, especially considering its size. Its small size and low weight (2 kg / 4.4 Lbs) allow it to be easily concealed under clothes, in a car, or in a suitcase, and allows for high mobility, even in crowds.

A special bag and suitcase have been designed, not only to carry the weapon in, but also to fire it from. Both have a hole in them, from which the bullets are fired. The suitcase's "trigger" is in the handle, but when using the bag, you must open it and grip the trigger as you would normally.

Needless to say, this feature provides near-ultimate stealth.

The only directly notable disadvantage is a seriously decreased effective range (only 25 m / 82 ft), due to its shorter barrel (115 mm [4.5 in] instead of 225 mm [8.9 in]) and lack of shoulder stock (which makes the weapon more difficult to aim).

So it comes down to requirements in the end. Stealth is not something I’d ever be interested in but stopping power under attack is.

Hence my preference for the UMP and in a pistol, the M1911.

In my novels, I thought out the weaponry you’d use in a paired combination with your wife, say, giving her the more versatile close range guns and retaining the ultimate stoppers for yourself, if only on the grounds of weight and size.

Anyway, have a think about it but of course, forget any idea that you’d actually buy any of these, even if you could. Remember, in the coming troubles, you are to be left completely defenceless. That’s what the rule of lauranorder is all about.

For heaven’s sake, if you want to play about with guns, join your local TA.

[culinary gems] let them eat cake

Culinary gem

If you were to be served this menu on a special anniversary, [please excuse the lack of French accenting in the spellings], there would hardly be any great surprise until you came to the wines:

Soup

Imperatice and Fontanges

Hors d’oeuvres

Souffles a la reines

Removes

Fillet of sole a la venitienne
Escalopes of turbot au gratin
Saddle of mutton with Breton puree

Entrees

Chicken a la Portugaise
Hot quail pate Lobster a la Parisienne
Champagne sorbet

Roasts

Duckling a la rouennaise
Canapes of ortolan

Entremets

Aubergines a l’espagnole
Asparagus spears
Cassolettes princess

Desserts

Bombes glacees

Wines

Retour de l’Inde Madiera, sherry
Chateau -d’Yquem 1847
Chateau Margaux 1847
Chateau-Lafite 1847
Chateau-Latour 1848
Chambertin 1846, Champagne Roederer

Aside from the wines, there is much in that menu which might be provided at any special dinner today. And yet *:

Adolphe Duglere: born Bordeaux 1805, died Paris 1884

Duglere was a pupil of Careme’s and is always associated with the Cafe Anglais in Paris. The Cafe Anglais opened in the Boulevard des Italiens. It was named in honour of the peace treaty just signed between England and France, as he made it one of the most famous in the world.

He also managed the restaurant at Les Freres Provencaux and was the Head Chef at the kitchens of the Rothschild family’s kitchen The dishes he is famous for creating are Potage Germiny, souffle a la Anglaise, sole Duglere and the reknowned Anna Potatoes; named after Anna Deslions, a lady of high fashion at the time.

At an historic dinner, which became known as ‘the three Emperors’ due to the attendance of Alexander II, the future Alexander III, Wilhelm I of Prussia and Bismark, it was Duglere who was the Chef Patron. The dinner on June 7, 1867 was an expensive and extravagant affair even for those times.

The menu above was from that dinner. One marvels at how the ordinary mortal today is able to partake of such fare and not think twice about it.

What would the peasants have eaten in those days? Cake?

* I’ve lost the link but the site was “Talleyrand’s Culinary Fare”.