Tuesday, October 28, 2008

Acting teacher and director Milton Katselas died Friday at age 75, after suffering from heart failure at Cedars-Sinai Medical Center in Los Angeles, California. He began the Beverly Hills Playhouse in 1978 and taught acting classes there to noted actors including George Clooney and Gene Hackman. Katselas is survived by a sister and two brothers.

Katselas directed an off-Broadway production of Edward Albee‘s The Zoo Story, and received a Tony Award nomination for his 1969 direction of Butterflies are Free. Actress Blythe Danner won a Tony Award for her role in Butterflies are Free under Katselas’ direction. He moved to California to direct the film version of that play, and went on to direct films and television movies. Actress Eileen Heckart received an Academy Award for her role in the film version of Butterflies are Free.

Katselas directed the San Francisco and Los Angeles productions of the play P.S. Your Cat Is Dead! by playwright James Kirkwood, Jr. In his author’s notes in the publication of the script, Kirkwood acknowledged Katselas, and wrote that the plays were “directed with incredible energy and enthusiasm by Milton Katselas, to whom I am extremely indebted”.

Katselas directed the television movie Strangers: Story of a Mother and Daughter, and actress Bette Davis received an Emmy Award for her role in the movie. Katselas taught many famous actors including Michelle Pfeiffer, Richard Gere, Robert Duvall, Jack Lemmon, Al Pacino, Goldie Hawn, Christopher Walken, Burt Reynolds, George C. Scott, Elizabeth Taylor, Richard Burton, Alec Baldwin, and Patrick Swayze. Katselas was credited with being able to nurture actors with raw talent so that they could develop strong Hollywood careers. He utilized innovative techniques in his courses – one course called “Terrorist Theatre” had a simple premise: successfully get an acting role within six weeks or leave the course.

He grew up in Pittsburgh, Pennsylvania to parents who had immigrated from Greece, and graduated from Carnegie Mellon. He studied acting with Lee Strasberg in New York at the Actors Studio, and received advice from directors Joshua Logan and Elia Kazan.

Katselas was a prominent Scientologist, and a July 2007 profile on Katselas in The New York Times Magazine observed that some of his students stopped taking courses at the Beverly Hills Playhouse because they felt they had been pressured to join the Church of Scientology. According to the article, Katselas credited Scientology founder L. Ron Hubbard “for much of his success in life”, and one of his students works at Scientology’s Celebrity Centre. The article commented that some in Los Angeles view the Beverly Hills Playhouse as “a recruitment center for Scientology”.

Katselas met L. Ron Hubbard after moving to California, and began studying Scientology in 1965. The New York Times Magazine reported that he had reached the level of “Operating Thetan, Level 5, or O.T. V.” in 2007. According to The New York Times Magazine when Scientologists proceed up the “The Bridge to Total Freedom” they learn the story of Xenu, and that: “75 million years ago the evil alien Xenu solved galactic overpopulation by dumping 13.5 trillion beings in volcanoes on Earth, where they were vaporized, scattering their souls.” A Church of Scientology publication, Source, lists Katselas as reaching O.T. V. in 1989.

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He is brilliant, and knows me so well as a person and an actress that he gets the most out of me.

Though some actors felt pressured to join the Church of Scientology after taking courses at the Beverly Hills Playhouse, at least one individual felt Katselas was not active enough with the organization. Actress Jenna Elfman left the Beverly Hills Playhouse because she felt Katselas was not committed enough to Scientology. Katselas had previously directed Elfman in half of Visions and Lovers: Variations on a Theme, two one-act plays about relationships that he had written himself. In 1999 Katselas had planned to adapt the script of Visions and Lovers to a film version, and Elfman was set to reprise her role from the play. In an article in Variety about the project, Elfman commented on her experience working with Katselas: “He is brilliant, and knows me so well as a person and an actress that he gets the most out of me.”

Other prominent Scientologist actors who have studied under Katselas include Giovanni Ribisi, Jason Lee, and Leah Remini. According to Rolling Stone, Katselas also recruited actress Kelly Preston to Scientology. Actress Nancy Cartwright (the voice of Bart Simpson), told Scientology publication Celebrity that Katselas motivated her to get more active in Scientology, and she stated she took the organization’s “Purification Rundown” and her life “took off completely”.

Life is an endless unspooling of art, of acting, of painting, of architecture. And where did I learn that? From Milton.

Anne Archer was introduced to Scientology while studying at the Beverly Hills Playhouse, as was former Scientologist and now outspoken critic actor Jason Beghe. Beghe told Roger Friedman of FOX News in April 2008 that “He [Katselas] gets kickbacks”, and that he was brought to a Scientology center by fellow Beverly Hills Playhouse classmate Bodhi Elfman, Jenna Elfman’s husband. In a 1998 article for Buzz Magazine, Randye Hoder wrote “In his class, Katselas is careful not to label anything as a tenet of Scientology, but there is no question that the church’s influence seeps into the playhouse.”

Anne Archer’s husband and fellow Scientologist, producer Terry Jastrow, commented to The New York Times Magazine that Katselas changed the way he experiences life on a day-to-day basis: “I go out in the world and look at human behavior now. I see a woman or man interacting with a saleslady, and I see the artistry in it. Life is an endless unspooling of art, of acting, of painting, of architecture. And where did I learn that? From Milton.”

Actor Anthony Head of Buffy the Vampire Slayer spoke highly of Katselas in a 2002 interview with San Francisco Chronicle: “He’s this wonderfully intuitive teacher and his premise is basically: The only real barriers are the ones we put in front of ourselves. If you say, ‘My character wouldn’t do that’ — bollocks! Ultimately it’s you who wouldn’t say that. Who knows what your character might do.” In the acknowledgements of her 2004 autobiography Are You Hungry, Dear?: Life, Laughs, and Lasagna, actress Doris Roberts wrote: “I thank my friend and acting teacher, the incredible Milton Katselas, for his insights, wisdom, and inspiration, which have helped make me the actress that I am.”

I really care about the craft of acting. It’s absolutely necessary to take the time and patience to really develop an actor.

Katselas authored two books: Dreams Into Action: Getting What You Want, first published in 1996 by Dove Books, and Acting Class: Take a Seat, which came out earlier this month. Dreams Into Action, a New York Times Bestseller, sought to modify motivational acting exercises to the field of business.

In an interview in the 2007 book Acting Teachers of America, Katselas commented on his experiences as an acting teacher over the years: “I have very special teachers here at the Beverly Hills Playhouse—some have been with me for over twenty-five years. I believe that to make a difference over the long haul, we need to train teachers. I really care about the craft of acting. It’s absolutely necessary to take the time and patience to really develop an actor.”

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Sunday, July 20, 2008

The last day of the Wikimania 2008 conference saw Saturday morning sessions on a variety of topics. Wikinews attended a presentation by Eric M. Johnson from the United States Department of State. Eric, a former NCO in the U.S. Marines, is the lead for the Knowledge Management Action team in the department’s Office of eDiplomacy, and involved in department’s use of Web 2.0 technologies for knowledge management. This includes blogs, and the key focus of his talk, Wiki culture in the U.S. Department of State.

Eric opened his presentation with an introduction to the U.S. State Department, one of the oldest agencies of the American government, which today has around 57,000 employees worldwide. When formed in the 18th century their offices and diplomatic staff operated largely autonomously due to lack of ability to communicate rapidly. By the mid-20th century this had changed with the advent of telegraph lines, and changed again with the Cold War and security concerns bringing to the fore the well-known term, “need to know”.

Now, in the 21st century, the volume of internal communication generated by the department is a staggering 1,800,000 cables a year, 1.5 billion emails, production of around 500,000 print volumes, and maintenance of approximately one thousand websites. Both internal and externally facing.

A pilot project was set up, Diplopedia, a MediaWiki wiki running on the department’s internal network, which outside of the department of defence is one of the largest private networks operated by the U.S. government.

A grassroots effort, this project to promote knowledge sharing differs from the well-known Wikipedia in that it does not allow anonymous edits. There are around 1,000 registered users who have contributed over 4,400 pages. Integration with the Department of State’s internal search engine prioritises results from the wiki, increasing the popularity of the site such that it has received over 650,000 page views. Like Wikipedia, users are required to provide sources for entered information at the foot of the article, and users are warned that it is a starting point and not an authoritative source of information. Data on visa requirements and information from other static department sites has been incorporated into the wiki.

Eric described the project as just reaching critical mass and attracting increasing interest from other departments. Among the ingredients leading to the success of the project were the cultural change with increasing awareness of the technology from Wikipedia, the formation by the community of a welcoming committee, and the taking on of roles to carry out tasks such as drafting. A number of staff act as “gardeners” tending to the wiki content, keeping it fresh, and well cross-referenced. The continual updating is a novel concept to many of their employees.

Unlike Wikipedia, and many other projects using MediaWiki, none of the Diplopedia pages are locked or protected. This even includes their main page. To date there have been none of the content disputes that have been an issue on Wikipedia, and the use of the wiki to replace traditional websites which are far more time consuming to maintain is seen as a logical extension of the project.

Carried out with no outside help, and by learning from others’ mistakes, the department has adopted mechanisms for assuming that contributions are well-intentioned, and has a body for oversight in the event of a dispute.

With the success of the project, eDiplomacy plans to introduce a separate, classified wiki. They will also expand the effort to compile biographies of foreign leaders, which was pioneered by the U.S. missions in Italy and Germany. This effort has proven valuable when combined with a version of the site available on portable devices such as the Blackberry.

The future holds moves to seek more support from management and integration with their primary authentication system. Among the features on the main page to keep the project interesting to staff is a “Diploquiz” which poses a weekly trivia question which can be answered from somewhere within the wiki.

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Monday, May 14, 2007

Buffalo, New York —A massive warehouse complex of at least 5 buildings caught on fire in Buffalo, New York on 111 Tonawanda Street, sending a plume of thick, jet black colored smoke into the air that could be seen as far away as 40 miles.

As of 6:40 a.m., the fire was under control, and firefighters were attempting to stop it from spreading, but could not get to the center of the fire because of severe amounts of debris. Later in the morning, the fire was extinguished.

“The fire is mostly under debris at this point. It’s under control, but it’s under some debris. We really can’t get to it. We’re just going to have to keep on pouring water on it so it doesn’t spread,” said Thomas Ashe, the fire chief for the North Buffalo based fire division who also added that at one point, at least 125 firefighters were on the scene battling the blaze. One suffered minor injures and was able to take himself to the hospital to seek medical attention.

Shortly after 8:00 p.m. as many as 3 explosions rocked the warehouse sending large mushroom clouds of thick black smoke into the air. After the third explosion, heat could be felt more than 100 feet away. The fire started in the front, one story building then quickly spread to three others, but fire fighters managed to stop the flames from spreading onto the 3 story building all the way at the back.

According to a Buffalo Police officer, who wished not to be named, the fire began at about 7:00 p.m. [Eastern time], starting as a one alarm fire. By 8:00 p.m., three fire companies were on the scene battling the blaze. Police also say that a smaller fire was reported in the same building on Saturday night, which caused little damage.

At the start of the fire, traffic was backed up nearly 4 miles on the 198 expressway going west toward the 190 Interstate and police had to shut down the Tonawanda street exit because the road is too close to the fire.

At one point, traffic on the 198 was moving so slow, at least a dozen people were seen getting out of their cars and walking down the expressway to watch the fire. That prompted as many as 10 police cars to be dispatched to the scene to force individuals back into their cars and close off one of the 2 lanes on the westbound side.

One woman, who wished not to be named as she is close to the owner of the warehouse, said the building is filled with “classic cars, forklifts, and money” and that owner “does not have insurance” coverage on the property. The building is not considered abandoned, but firefighters said that it is vacant.

Officials in Fort Erie, Ontario were also swamped with calls to fire departments when the wind blew the smoke over the Niagra River and into Canada.

It is not known what caused the fire, but a car is suspected to have caught on fire and there are reports from police and hazmat crews, that there were also large barrels of diesel fuel being stored in one building. Firefighters say the cause of the blaze is being treated as “suspicious.” The ATF is investigating the fire and will bring dogs in to search the debris.

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Submitted by: Chris D’Cruz

Change is the only aspect in life that is constant. It is taking place everywhere. In your place of work, in your home and change takes place in every organization. The degree of the change can vary, but it is change at the end of the day. Changes can be small such as changing the computers in your office, or they can be big ones like making people redundant. Whatever kind it is, proper leadership is needed to manage change. Leadership skill development is necessary to make the change a smooth process for the organization and not prevent it from achieving its overall aims and objectives.

How do you manage change? Especially drastic ones? Leadership skill development in this aspect is important. Leadership skill development to manage change teaches people how to deal with situations in an orderly manner in order to make the process as smooth as possible. For example, leaders have to make sure that the change is well communicated to the employees of the organization. Especially if it is going to affect them. The news of the change should never arrive as a shock to the employees because it can lead to many disastrous consequences which include industrial action.

[youtube]http://www.youtube.com/watch?v=D4MV62wSFPM[/youtube]

Once the change has been announced, the leader has to look for ways to let it take its affect as smoothly as possible. Explain to people why the change is necessary and how it will help them and how it will help the organization achieve its goals. Explaining the reason for the change is very necessary, because without a reason it may not be justified to employees and this can lead to many issues.

Managing change also means to communicate with the employees who are affected by the change. Leadership skill development includes this. For example, if redundancies are taking place, leaders ought to adopt a soft human resource management approach. Redundancies are a very dramatic change for employees as it can affect their social status and their income. A loss of income is very stressful for anyone. Leaders need to understand this and empathize with their employees. This might make the process of change smooth. Also, leadership skills also focus on finding the most appropriate way to bring change by the least conflicted approach. So if redundancies have to be made, a good leader would try and search for people who want to volunteer for redundancy. This way, those who want to leave can leave and those who want to stay will be least affected by the change. Leadership skill development teaches people these approaches and the most appropriate way or ways to deal with change.

Managing change is very necessary. Moreover, the leadership skills need to be present to manage change. Leadership skill development to manage change can be taught and a good leader will do his or her best to acquire these skills. To bring about change, understanding it is important. And that is the most important leadership skill to manage change.

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Thursday, August 2, 2007

The Interstate 35W Mississippi River eight-lane bridge in Minneapolis, Minnesota has collapsed on both sides of the highway over the Mississippi River during rush hour.

Previous reports indicated at least nine people had died, but Minneapolis police revised this to four during a 7:30 a.m. (local time) press conference. Tim Dolan, the Minneapolis Police Chief later stated that “several [adding to the four] people are confirmed dead at the scene,” but would not elaborate on how many. At least 79 have been injured and at least 8 are still missing, still believed to be in the rubble.

The road was busy with bumper-to-bumper traffic in four lanes when the entire 1907 foot (581 m) steel arch bridge collapsed. At least 50 cars were traveling on the bridge, including a school bus. The Red Cross said that 60 children were aboard a school bus, and that ten of those were admitted to a hospital.

The entire length of the bridge over the river collapsed at 6:05 p.m. CDT (UTC-5). The bridge, built in 1967, cleared the water level by 64 feet; the deck surface and pavement were considerably higher.

Reports say that people may be trapped in the water. Further, “many voids may contain survivors, but we cannot search those voids until it’s safe,” said Jim Clack, Minneapolis Fire Chief, during a press conference.

“One has died from drowning,” said a doctor from the medical center during an 8:00 pm press conference, who also said that so far 22 are in “yellow condition” and at least six are in “critical condition.”

Minneapolis officials have stated during an earlier press conference that “people are being sent downtown and all survivors are off the bridge. We are seeking help from the Red Cross.” and “[…]at least 60 children are receiving trauma care some with severe injures, some with minor injuries.”

Most of the injured have been received by Hennepin County Medical Center in downtown Minneapolis for medical treatment. Area hospitals are requesting all off duty staff and all Minneapolis ambulances to report. Residents are being encouraged to stay away from the area to let emergency crews do their work.

It is not known what caused the collapse, but there was construction being performed on the bridge’s road surface which included the use of jackhammers and the FBI has ruled out terrorism.

“Although it is much too early to make any determination of the cause, we have no reason at this time to believe there is any nexus to terrorism,” said Paul McCabe, an FBI spokesman.

In 2001 a stress inspection was done and Minnesota Department of Transportation stated that the bridge “should not have any problems with fatigue cracking in the foreseeable future.”

Typically an eight-lane bridge, the bridge was reduced to four lanes (two in each direction) during the current construction. The Minnesota Department of Transportation (Mn/DOT) had just announced overnight lane reductions on the bridge to one lane in each direction for the late evening hours of July 31 and August 1.

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As lockdown measures ease, people return to work, and retailers open their doors once again, a big question is looming large in the background.

How are we going to pay for all this?

I am of course talking about expensive government policies such as the furlough scheme, small business rates relief grants, bounce back loans, self-employed income support payments, and the many other measures which were introduced to try and nurse the UK economy through the devastation caused by the Covid-19 pandemic, and associated lockdown.

The conventional knowledge is that public spending will have to be drastically decreased (which would harm public services), or taxes substantially increased (which would likely harm growth), in order to make a dent in the debt mountain which has piled up over the past few months.

For example, on July 11th 2020, The Observer published an article by former Treasury minister David Gauke, which was entitled ‘Tax Rises and Cuts Only Way to Pay for Covid-19’.

In it, Gauke stated that, ‘Once we are through the economic shock, the government will have to fill this gap with tax increases or spending cuts.’

Similarly, in an article published on the BBC website on July 9th 2020, which was called ‘Coronavirus: How much will it cost the UK?’ a conclusion of the article was that, ‘The deficit leaves the government with a choice: increase borrowing, raise taxes, or cut spending.’

However, the conventional wisdom is sometimes incomplete at best, and entirely wrong at worst. For example, it was once conventional wisdom that Earth, and not the Sun, was at the centre of the solar system.

In terms of the post Covid-19 recovery, inaccurate conventional wisdom has reared its head once again.

How To Make Money… Quite Literally

At this point, it’s worth remembering that money is a man-made construct.

Pounds, Euros, Dollars, or anything else, these currencies have all been created from scratch by human societies, in order to assist with the exchange of goods and services of value.

Also, if you were to ask people how money is created, most would probably suggest it was printed by the Royal Mint in the form of notes and coins.

This is true, but only to an incredibly small degree.

In actual fact, over 97% of the money in the British economy (and the figure is similar in almost all industrialised countries) is created when commercial banks (e.g. HSBC, NatWest, Santander) issue loans to their customers.

A 2014 bulletin by the Bank of England entitled ‘Money Creation in the Modern Economy’ stated this very clearly. The exact words they used were:

Where does money come from? In the modern economy, most money takes the form of bank deposits. The principal way in which they are created is through commercial banks making loans: whenever a bank makes a loan, it creates a deposit in the borrower’s bank account, thereby creating new money. This description of how money is created differs from the story found in some economics textbooks.

This process of ‘creating a deposit in the borrower’s bank account’ is as uncomplicated as it sounds. Perhaps even more so.

It simply means that the bank approves a loan, then types the numbers of the loan amount into the customer’s bank account. The process is entirely digital; no physical money has been created or exchanged at any point.

This has several implications.

Firstly, it means that individuals and businesses receiving loans from commercial banks is the source of nearly all the money in our economy. To put it more starkly – without people taking on bank debts, there can be no money.

This puts a different spin on the concept of ‘the irresponsibility of debt’.

I’m sure we all know of people who have taken out a bank loan, and then wasted it on trivial things. Often, we judge these people, calling them irresponsible or indulgent, and perhaps they are, but whenever anyone takes on bank debt, we too owe that person a kind of debt, as their taking out a loan has increased the amount of money in the economy which can be earned, spent, and taxed. This in turn means that a country’s Gross Domestic Product (GDP) will likely rise as the money supply increases.

‘But Why Has No-one Told Me This Before?’

Good question.

If the truth about money creation was news to you, you’re not alone. The overwhelming majority of the general public don’t know how money is created, and a 2017 poll by the campaign group Positive Money found that even 85% of MPs were unaware.

However, once you understand that money can be created out of thin air, with the push of a button, the debate on how to pay off the debts accumulated during the response to Covid-19, seems rather different.

This is even more true once you understand how central banks work.

Central banks are the national banks of specific countries. For example, in the UK, the Bank of England is our central bank, while in the USA, it is the Federal Reserve, and in the EU, it’s the European Central Bank.

Nearly every country in the world has a central bank, and much like commercial banks, they have the power to create money out of nothing – although central banks have the additional responsibility of trying to ensure the economy as a whole stays healthy.

But whereas commercial banks lend money to businesses and individuals, central banks chiefly lend money to governments, commercial banks, and other financial institutions.

The ability of central banks to create money and lend it to their national government, is of particular interest.

‘There’s No Magic Money Tree That We Can Shake, That Suddenly Provides For What People Want’

Those words were spoken by Theresa May on June 2nd 2017 when appearing on the television show Question Time, in response to a nurse asking why she hadn’t had a pay rise in 8 years.

And she was right; we don’t have a magic money tree that we can shake to raise money.

The truth is, it’s much easier than that.

All over the world, central banks have the power to create new money, which can then be used to pay for whatever is needed. And they certainly do use this power, although not in a way which benefits the general population as much as it could.

For example, in the UK, the Bank of England created 456 billion of new money between 2009 and 2017 through the use of quantitative easing, and this money went straight to commercial banks and other financial institutions, rather than into the hands of individuals or SMEs. Furthermore, none of this money has ever been repaid.

More examples of money being created to serve privileged interests, have come as a result of the Covid-19 pandemic.

A case in point, is the Bank of England’s Covid Corporate Financing Facility (CCFF), which has provided 58 billion worth of newly created money to some of the UK’s largest companies, including Easyjet, Greggs, and First Group.

In fact, the CCFF is not even available to small and medium sized businesses, as the terms of the scheme mean that, in effect, only the UK’s largest corporations are eligible for it.

Another example comes from the US Federal Reserve, who, in the early months of 2020, injected over $2 trillion dollars of newly created money into the American financial markets, in order to try and prevent a recession.

This proved successful to a large extent, but sending the funds directly to investment banks and corporate financiers means it is highly unlikely much of this money will filter down to ordinary working families.

Proof Of Concept

While much of the money which has been newly created by central banks in response to the Covid-19 pandemic has gone to the corporate class, the creation and distribution of these funds has at least shown what can be done.

Namely, money can be created from scratch by a central bank, and injected into the economy where it’s needed most. Indeed, the concept of a nation’s central bank creating new money to finance government spending, is not a new one.

It is a policy known as Direct Monetary Financing, and some influential supporters of Direct Monetary Financing include the economists Milton Friedman, Adair Turner, Willem Buiter, Jordi Gali, and Ben Bernanke, who was Chair of the US Federal Reserve between 2006 and 2014.

The Bank of England has in fact always had the power to create money for the UK government to spend in whichever way it sees fit, and occasionally this power is used. More specifically, the account which the government has with the Bank of England is called the Ways and Means facility, and every so often these two institutions work together to create new money, that the government can use to pay for the extra expenses which arise during challenging circumstances.

For example, following the 2008 financial crash, the size of the government’s Ways and Means facility (i.e. the amount of money the Bank of England created from thin air to assist with the government’s spending requirements) was nearly 20 billion.

And as a result of the Covid-19 outbreak, the UK government has already worked with the Bank of England to create new money, which will be used to help finance the government spending programs that have been introduced to protect the British economy through the pandemic.

Confirming this, a press release published by the Bank of England on 9th April 2020 announced that they had granted the Treasury a ‘temporary extension to the Ways and Means facility’ to help the government ‘smooth its cashflows and support the orderly functioning of markets, through the period of disruption from Covid-19’.

However, the Bank of England also said such an extension would be, ‘temporary and short-term’.

When reporting on this announcement, the Financial Times ran with a headline of ‘Bank of England to directly finance UK government’s extra spending’.

Making It Rain

So if money can be created by the government and the central banks at will, then why is this power not used more often to better fund the public services which we all rely on? Indeed, as Positive Money noted, the Bank of England creating money for the UK government to spend during the Covid-19 crisis, ‘demonstrates once and for all that the government need not depend on private markets to finance its spending’.

In short, if the NHS is low on funds, if schools are lacking resources, or if the police don’t have the equipment they need, then why can’t the government order the creation of more money, so all these things (and more) can be afforded?

Generally, the answer provided is that doing this would increase inflation.

This is not incorrect, but it is by no means assured that increasing the supply of money in an economy will make the goods and services more expensive.

The somewhat hysterical examples of Zimbabwe and the Weimar Republic are sometimes used as cases where the government creating money for itself to spend has led to hyperinflation, but when looking closer to home, both in terms of location and time period, it is easy to observe different outcomes.

Firstly, it is important to note that new money is entering the economy all the time, as a result of banks providing loans to their customers, foreign investment capital flowing into the country, and governments borrowing money from financial markets to fund their public spending commitments, yet whenever money from these sources enters the economy, the argument is never made that the increase in money supply will cause inflation to rise. And at times when inflation is high, rarely is the finger pointed at the money supply being too high.

Furthermore, as noted earlier in this article, the Bank of England created 456 billion of new money between 2009 and 2017 through the use of quantitative easing, yet inflation only rose by 2.77% a year on average in the UK for the period between 2009 and 2020. In terms of historical inflation rates for both the UK and other developed economies, this figure is remarkably low.

In fact, as a result of lockdown measures having reduced the amount of money being newly created by commercial banks granting loans (such as mortgages or startup loans etc.) over the past few months, some economists argue that we now have the opposite problem in the form of deflation, and that what we need now more than anything, is a fresh supply of money entering the economy.

For example, David McWilliams, a former economist at the Central Bank of Ireland, has said that:

We have an economic vaccine – it’s called money. We know the central bank prints it. It doesn’t even have to print it, it just has to put a zero after people’s accounts.

We have the vaccine, we know what to do. And amazingly, we’re not using it because of some morality idea that we can’t do this because it will lead to inflation, when we know we’re in a deflationary spiral.

It is absolutely nonsensical. It is as mad as a laboratory having the vaccination for COVID-19, and saying “we’re not going to use it.”

While Canadian historian Quinn Slobodian has noted of the US Federal Reserve injecting newly created money into the American economy, ‘Economists see no sign of inflation on the horizon. Some have become concerned about inflation in recent weeks, but others worry about the opposite – deflation.’

The Path Not Mentioned

Returning to the quotes at the beginning of this article from David Gauke, and from the BBC, about how the only options on offer to pay for the extra government spending that has arisen from the Covid-19 pandemic, are to raise taxes, increase borrowing, or cut spending, it should now be clear that this represents an incomplete set of choices.

One of the other options, which has been outlined in the article, but which (for one reason or another) is rarely mentioned by politicians, or by the media, is simply for the Bank of England and the British government to work together and create enough new money that the bulk of the Covid-19 spending commitments could be met through Direct Monetary Financing.

This is an option you may agree or disagree with, but knowing that it is even an option in the first place, will help us all to make properly informed decisions about where to go next.

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Friday, April 7, 2006

Accra —The Ghana-India Kofi Annan Centre for Excellence in ICT introduced the Semacode technology and the Semapedia application to a segment of the Ghanaian public in a presentation delivered by Guido Sohne, Developer-In-Residence at the Centre and Chief Software Architect of CoreNett Ltd, a Ghanaian electronic transaction processing company.

Introduced for the first time in Africa, Semapedia is a way of associating Internet sites with physical barcodes that can be read by cameraphones, enabling one to look up information about physical objects quickly and easily.

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Saturday, March 26, 2011

On Thursday, London’s Mayor Boris Johnson announced the shortlist of bidders to supply up to ten further trams to Transport for London (TfL) for use on the city’s Tramlink network in Croydon. The trams will be used to supply additional capacity on the network between Elmers End, central Croydon and Therapia Lane — one of the most congested parts of the route.

TfL, who purchased the Tramlink network from Tramtrack Croydon Ltd. in 2008, announced the plans late January, after submitting the tender to the Official Journal of the European Union (OJEU) on January 29. According to the notice, the additional trams will operate approximately 75,000km per year, will be needed for “at least 10, but not more than 20 years” and can be either new build or existing vehicles that can be modified — at a reasonable cost — to run on the Tramlink infrastructure.

The tram fleet is currently made up of 24 Bombardier CR4000 trams, which were constructed for the opening of the 28km network between 1998 and 2000. 22 of these trams are currently needed to operate the three tram routes each day, and the new service is expected to require at least an additional five trams daily, bringing about the need for a boost to the fleet levels.

The shortlist to supply the trams consists of City of Edinburgh/CAF, Stadler (Stadler Pankow GmBH) and Pesa (Pojazdy Szynowe PESA Bydgoszcz S.A.Holding, and the the three consortia will now be invited to submit proposals to supply the additional trams. The Invitation to Tender will run for four weeks.

It is not currently known whether the bids made by Stadler and Pesa will be for new-build or second-hand vehicles, however the bid from Edinburgh/CAF is to use a number of the currently-dormant trams that were constructed for that city’s own tram network. The system has had several set backs since construction began, with the network now set to open in stages with a number of tram lines (but not the trams to operate them) being cancelled, leading to a large surplus of vehicles that could be hired out in the short term. The trams are amongst some of the longest and heaviest in Europe, though, and will require a large amount of modification to enable them to be able to operate on Croydon’s network if the bid is successful.

Shortly after the announcement, whilst inspecting one of the network’s current trams at East Croydon tram stop, Boris Johnson said: “I have no greater responsibility as Mayor than to ensure people can move around this city with ease, comfort and reliability.

“Trams in Croydon have proved a major success and this is reflected in journey numbers which have soared by 45 per cent since the network opened in 2000.

“I look forward to the extra vehicles developing this vital, much-appreciated, and indeed attractive, form of transport further.”

Funding for the new trams is expected to largely come from TfL, however the London Borough of Croydon has also confirmed a £3m contribution to the project. This will also include the refurbishment of tram stop surrounds.

Croydon Council Leader Mike Fisher said: “This is looking like a great deal for Croydon and shows the benefits of an ambitious local authority and committed Mayor working together, pooling resources and expertise.

“There is real support to get additional trams for Croydon to keep pace with growing demand for Tramlink services and also to secure major improvements for pedestrians and transport users around and between East and West Croydon stations.”

TfL anticipates that, providing a successful bid is made, the new trams would be delivered to the network’s depot at Therapia Lane in late 2011, with an entry into service from early 2012.

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How to Use an Air Pneumatic Nailer in 10 Easy Steps

by

Herry

Using an air nailer has the potential of saving you a lot of time and effort — if you learn about air nailer safety. Follow these 10 air nailer tips on how to use your pneumatic nail gun safely and effectively, and your kitchen cabinets will hang in no time!

Define Your Air Nailer Need

Will you attach kitchen cabinets to a wall or frame a house? Just like you won’t use a sledge hammer to hang a picture, you wouldn’t use an air nailer capable of shooting 16 inch nails for small jobs. Understand what kind of pneumatic nail gun you need and buy accordingly. Grainger is a great source of various different makes and models.

Learn How to Use Your Air Compressor

If you opt for an air nailer that relies on a stand-alone air compressor, learn how to use the compressor. Air nailer safety depends on all the components involved during a project, and this includes the stand alone compressor (if required).

Get Out the Safety Gear

Safety goggles might not get you many dates, but having two eyes greatly enhances your odds of doing well with the ladies (since most nail gun accidents happen to men – according to the CDC – I am addressing the men here). Wear safety goggles and – if you work in confined spaces – also invest in some ear protection. These air guns can get loud!

How to Use Air Nailer Tools: Read the Manual

[youtube]http://www.youtube.com/watch?v=YJT6CDf6sfE[/youtube]

Read the manual that came with your pneumatic nail gun. Even if you just replaced an identical model, read the section on how to use the air nailer safely, just in case there are some updates since the last time you bought a model.

Understand how the Pneumatic Nailer Works to Lessen the Recoil Shock

Depending on the application of your air nailer, you may experience quite a bit of recoil. Be prepared by learning how your air nailer works. Lowe’s offers a great explanation on the subject.

Air Nailer Safety in Confined Spaces

If you are using a palm nailer, you won’t have to worry too much about working in a confined space. On the other hand, if you are using a powerful full sized model, the recoil from a badly placed nail can literally lead to a head injury. Unless you use a mini model, do not use your pneumatic nail gun in confined spaces where it is close to your body.

Start Out Slow In Single Cycle Mode

Once you have read everything there is on air nailer safety, it is time to get to work. Start out slow by working in single cycle mode. In this setting, you are only releasing one nail at a time, allowing you to get a feel for the workings of the pneumatic nail gun. From there, you may graduate to the sequential mode, which makes these tools so speedy.

Don’t Circumvent the Contact Trigger

If your air gun is equipped with a contact trigger, you must release the manual trigger at the same time that the tip of your air nailer touches the target location for applying nails. Sure, you could shave a few hundreds of a second off your work by keeping a manual trigger depressed and using the contact trigger as the sole means of controlling the nail application, but in so doing you risk injury, mistakes, and also ricochet from the accidental touching of the tip to stone.

Never Use a Trigger Lock

According to the CDC, these trigger locks are designed for the rapid continuation of the air nailer, but it also takes away your control of the tool. Quoting the CDC, in the four year span between 2001 and 2005, an average 14,800 consumers were seen annually for nail gun injuries. This adds to the yearly average of 22,200 laborers also injured. You might save time by using a trigger lock; then again, you might seriously fall behind schedule due to a hospital visit or stay.

Use the Nails Made for the Air Nailer

Don’t jury-rig the nail gun’s feeder system. Use only the type and size of nails specifically made for your model of pneumatic nail gun.

A Review of the Bostitch MIIIFS Flooring Stapler

If you need to install hardwood flooring, then you will need a stapler designed especially for the task. The Bostitch MIIIFS is a pneumatic flooring stapler perfect for installing hardwood flooring. This stapler measures 17 inches long and weighs only 11 pounds. You can find it at an average price of $450. Let’s take a look at some of the other features offered by this flooring nailer.

The Bostitch MIIIFS is designed to fire 15-gauge staples. It is relatively versatile as it can use either 1 1/2 or 2-inch staples. Also, the tool can hold up to 92 staples at a time. The Bostitch MIIIFS is fitted with a 3/8-inch air inlet. The stapler is designed to operate between a pressure of 60 and 100 pounds per square inch.

The Bostitch MIIIFS features high-speed mallet actuated pneumatic operation. This is much more productive than using manual methods to drive staples into hardwood flooring. This design is capable of providing 420 inch-pounds of driving force. The Bostitch MIIIFS is also designed to drive staples at the proper angle and depth to prevent damage to the surface. You can also adjust it to accommodate different tongue positions and materials of different thicknesses.

You will also appreciate the composite base plates included with the Bostitch MIIIFS. These plates allow you to install 1/2-inch and 3/4-inch bases. These base plates are designed to provide additional stability. The Bostitch MIIIFS is also equipped with a long-reach handle for extra control and comfort. You also have the option of using a shorter handle.

The Bostitch MIIIFS measures three inches wide and 17 inches long. It weighs only 11 pounds, so it shouldn’t be too much for you to carry around for big projects. In addition to the base plates, the package for the Bostitch MIIIFS also includes the graphite mallet used to operate the stapler.

If you need to add a flooring stapler to your arsenal of tools, then you should consider buying the Bostitch MIIIFS. The high-speed mallet actuated pneumatic operation can provide up to 420 inch-pounds of driving force. Also, the Bostitch MIIIFS is packaged with 1/2-inch and 3/4-inch base plates to provide additional stability. You will also appreciate the versatility offered by the stapler as it can accept either 1 1/2-inch or 2-inch staples.

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Article Source:

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Thursday, December 20, 2007

Draft guidelines issued by the United States Department of Health and Human Services in November have established a series of tiers and categories for distribution of scarce vaccine in the event of pandemic flu. These guidelines give strong preference for emergency responders, military and national security personnel, and socially important occupations, such as top politicians, energy sector and communications personnel, bankers, and newborn infants. Distribution of vaccine to the elderly occupies a low priority, especially in the event of a severe pandemic with a case-fatality rate of 2% or more causing more than 1.8 million deaths. The scheme differs significantly from that proposed in Britain in 2005, which gave high priority to the elderly, noting that most of the deaths in recent years – ranging from 12,000 to 29,000 annually – were in elderly patients.

U.S. 2007 Britain 2005
Tier 1. Deployed/mission critical national security, health care providers, police, fire, vaccine manufacturers, top politicians Priority 1. Health care workers, nursing home staff
Tier 1*. Pregnant women, infants (*Sub-tier plan places at lower priority than other Tier 1) Priority 2. Fire, police, security, communications, utilities, undertakers, armed forces
Tier 2. Intelligence, border, national guard, other domestic national security, community support, electricity, natural gas, communications, water, critical government personnel, children, household contacts of infants Priority 3. High medical risk (e.g. diabetes, immunosuppressed)
Priority 4. All over 65 years of age
Tier 3. Other active duty military, important health care, transport, food, banking, pharmaceutical, chemical, oil sector personnel, postal and other government, children Priority 5. Selected industries, e.g. pharmaceuticals
Tier 4. High risk conditions, all over 65 years of age Priority 6. Children
Tier 5. General public Priority 7. General public

The plan is open to public comment under U.S. Federal Register guidelines until December 31.

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