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I like over 3.5 sets in Fed v Cilic today seems to be a good price at 1.8 as well. Think Cilic is hard to play and normally picks up a set.
Tsonga is seriously overpriced today think the handicap might need a look.
No announcement yet.
Wimbledon 2016
Serena Williams looks too short to start against Anastasia Pavlyuchenkova who has looked very impressive so far this tournament, Lay of Serena at 1.12 could yield a few ticks as i think it could be quite close.
Cibulkova is too short at 1.42 against Vesnina who similar to Pavy has been impressive and looked in excellent form while Cibs is always vulnerable with her service games
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A few first round matches where I think a few ticks could be gained here and there
Bouchard at around the 1.40 price is too short against a player who loves the grass and all out attacking style could cause her problems
Garcia is too short against Buyukakcay @ 1.20 currently
Cibulkova at 1.40 is too short against a player in Baroni that cause anyone problems
Diyas good price against Friedsam around the 2.40 mark
Muguruza @ 1.30 against a player who can raise her game and very comfortable on grass, considering no one is sure how she will react after the French Open this price is a gift to lay at
Watson @ 1.50 and Jankovic @ 1.35 are two players who again I expect to not have straight forward matches against beck and Voegele so their price to lengthen
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Keys, Pliskova and Vanderweghe have all shortened nicely. None of them been given a great draw either. Pironkova and Bouchard have drifted slightly. I will be taking a chance on Petra Kvitova lifting the trophy and she is currently a best priced 14-1 with Unibet and as she has proven before if she is on form on grass then she is unstoppable.
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It is a pity, anyway, I really want Roger Federer to win this tournament at the end of his amazing career!
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But what about the men tournament? Do you think Roger Federer has a chance in Wimbledon against Djokovic? Nadal is not about talking, well known that Rafa will not play because of injury..
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Wimbledon 2016
Bit early I know and will do a full preview once the warm up tourneys and draw is made but five outsiders who stand out at the minute who I feel might shorten in the lead up with good results are below
Keys 25-1
Pliskova 66-1
Vanderweghe 80-1
Bouchard 90-1
Pironkova 100-1Tags: None


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NASA's OSIRIS-REx program has successfully completed a comprehensive technical review of the mission and has been given approval to begin building the spacecraft, flight instruments and ground system. Lockheed Martin [NYSE: LMT] is responsible for development of the spacecraft, which will be the first U.S. mission sent to a near-Earth asteroid to collect and return samples.
This major milestone was achieved after a successful mission critical design review (CDR) for the Origins, Spectral Interpretation, Resource Identification, Security-Regolith Explorer (OSIRIS-REx) mission. The review was performed by an independent review board, comprised of experts from NASA and several external organizations, that validated the detailed design of the spacecraft, instruments and ground system.
"Passing CDR is a significant milestone in our program," said Rich Kuhns, program manager at Lockheed Martin Space Systems. "We have now completed the spacecraft design and are transitioning into fabrication as we prepare for the assembly, test and launch operations phase of the mission."
OSIRIS-REx is scheduled to launch in the fall of 2016, rendezvous with the asteroid Bennu in 2018 and spend a year of reconnaissance at the asteroid, before collecting a sample of at least 2 ounces (60 grams) and returning it to Earth for scientists to study in 2023.
"The OSIRIS-REx team has consistently demonstrated its ability to present a comprehensive mission design that meets all requirements within the resources provided by NASA," said principal investigator Dante Lauretta, from the University of Arizona's Lunar and Planetary Laboratory. "Mission CDR was no exception. This is a great team. I know we will build a flight and ground system that is up to the challenges of this ambitious mission."
NASA's Goddard Space Flight Center will provide overall mission management, systems engineering, and safety and mission assurance for OSIRIS-REx. The University of Arizona leads the effort and provides the camera system and science processing and operations center. Lockheed Martin Space Systems in Denver will build the spacecraft, the sampling and Earth-return system, and perform spacecraft mission operations. OSIRIS-REx is the third mission in NASA's New Frontiers Program, which is managed by the Marshall Spaceflight Center.
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs approximately 115,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2013 were $45.4 billion.

subset: commoncrawl


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Joy Kills Sorrow brings together an eclectic mix of musicians who each have classical and/or jazz conservatory training, though collectively, they ambitiously utilize their years of study to hone a new acoustic territory yet discovered by many of today's top artists. It's an amalgamation of lamenting music of the heartland, singular stories of heartache and laughter, beautiful string arrangements, and five musicians who grew up listening to indie-rock, jazz, and pop music that churn out impressive tunes with an incredibly contemporary sensibility.
Recorded at the 2011 Pickathon Music Festival.
Checkout Joy Kills Sorrow's website.


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4-Formyl Phenoxyethyl HypoGel Resins ( FP-linker)
HypoGel® is a hydrophilic gel type resin which combines high capacities with good solvent compatibility. Glycol spacers with n = 5 or 10 EO units separate the reactive sites from the polystyrene matrix and modify the hydrophobic properties of the polystyrene backbone. Due to the spacer effect the functional group shows a higher mobility which results in higher kinetic rates and high resolution NMR spectra from immobilized compounds on the bead. The resin is compatible to a wide range of solvents and in contrast to polystyrene even polar solvents like methanol or ethanol can be used.
These resins show high loading and a hydrophilicity between polystyrene and TentaGel®
Due to the lack of amide bonds and of benzylic linkages as well as the very good swelling properties in a broad variety of solvents this resin is well suited for solid phase syntheses of secondary sulfonamides and carboxamides.


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Source: Courtesy of Wikimedia Commons
OSLER, Sir EDMUND BOYD, businessman, politician, and philanthropist; b. 20 Nov. 1845 near Bond Head, Upper Canada, fourth son of the Reverend Featherstone Lake Osler* and Ellen Free Pickton; m. first 1868 Isabella Lammond Smith (d. 1871), and they had two children who died in infancy; m. secondly 3 Sept. 1873 Anne Farquharson Cochran (d. 1910) in Balfour, Aberdeenshire, Scotland, and they had three daughters and three sons; d. 4 Aug. 1924 in Toronto.
Unlike his brothers, Edmund Boyd Osler chose to forgo university and face the world with the education he received from his parents and the grammar school in Dundas, Upper Canada, where his father was the Anglican rector. In the late 1850s, still little more than a boy, he took a job at the Bank of Upper Canada, which was struggling with bad railway and land loans exposed by economic depression. Its demise in 1866 laid bare the price of mismanagement, a lesson Osler carried with him when he joined with fellow employee Henry Pellatt to launch a firm in Toronto that offered stockbroking, investing, and insurance services.
The new partners rode confederation's wave of optimism to some success, and Osler gained a reputation as an enterprising and trustworthy broker. It was likely his standing that attracted a group of promoters trying to establish the Dominion Bank in 1869 and raise $400,000 in capital. When asked to find subscribers, Osler accepted the challenge. He understood the importance of the business connections offered by the Dominion's principal founders, among them Whitby businessman James Holden, and saw too that financing for his own firm might be obtained by cultivating a close relationship with the new bank. His enthusiasm, however, was not enough to raise the capital. The bank's promoters were themselves divided over whether to buy the Royal Canadian Bank, which was in trouble but had established branches and customers, or to build from the ground up. By 1870 the Royal Canadian was off the seller's block and the Dominion's promoters were again searching for capital.
A break appeared when a dispute erupted between William McMaster*, the president of the Canadian Bank of Commerce, and James Austin*, a leading director. Austin resigned and was soon approached by Holden to support the Dominion; by 1871 the bank had opened with Austin as president. Osler became a shareholder but, more important, he was now connected to an influential network of contacts, especially Austin, who was impressed by this aspiring financier and appears to have been his mentor. Osler in turn learned how a sound reputation could win the confidence of nervous investors.
Just as timely for Osler was the combination of large increases in banking capital and the development of an unprecedented level of share issues on the Toronto market. In September 1871 Pellatt and Osler joined the newly reorganized Stock Exchange Association. The firm published weekly stock and bond market reports, which provide some insight into its operations and Osler's milieu. In 1874 the firm was enlarged to include Pellatt's son Henry Mill* and Augustus Meredith Nanton.
During the trading boom of the 1870s Osler built a good business, gradually generated some wealth, and settled into Toronto's elite. He began to associate his name and fund-raising talents with such public causes as the fledgling Hospital for Sick Children, which made him a trustee in 1878. Through much of his early years, it is not hard to imagine, Osler found success partly through his father, who had ties with the city's Anglican establishment. What is certain is that his relationship with Austin flourished. Austin secured a directorship for him at the Dominion Bank after Holden's death in October 1881. The position allowed Osler greater access to bank financing and gave standing to his new brokerage, Osler and Hammond, which he established in 1882 with Herbert Carlyle Hammond, former cashier of the Bank of Hamilton.
Osler's capitalist activities sky-rocketed in the 1880s. He was quick to pursue interests that must have seemed the future of such a large country, especially western land development, railways, and navigational ventures. In 1882, for instance, he was a founder and the managing director of the Ontario and Qu'Appelle Land Company Limited. His first railway undertaking, that same year, was the Winnipeg Street Railway, a scheme largely devised by Austin and his son Albert William*. Osler's job was financing. When he succeeded, interest in his abilities grew in Canada's other commercial centre, Montreal. Soon he was advising George Stephen, a member of the syndicate responsible for building the Canadian Pacific Railway. The railway company sold a major portion of its western land grants in 1882 to a group of capitalists headed by Osler and William Bain Scarth*. A founder of the Canada Southern Steamboat Company Limited in 1883, Osler had also begun investing large sums in railway schemes in Ontario, where his expertise and connections brought him the presidency of the Ontario and Quebec Railway. Its takeover by the CPR in 1885 gave him a seat on the board of the transcontinental. Associated with a promising national railway system, he concentrated increasingly on western projects and the development of his Winnipeg branch, Osler, Hammond, and Nanton, which had been launched in 1884 by his protégé A. M. Nanton.
Osler staked the future of his wealth and business on western development and invested in land that promised to appreciate in value when railways reached across the dominion. The CPR's completion in 1885 began the process that Osler envisioned and by 1896, when economic conditions dramatically improved and settlement was made more attractive, Osler began to realize profits from his real estate ventures. Newcomers needed land and an array of financial services, an opportunity not missed by Osler and Hammond, which developed a network that linked British and eastern Canadian investors with western borrowers. The North of Scotland Canadian Mortgage Company Limited, the Canada North-West Land Company, the Dominion Bank, and to a lesser degree the Trusts Corporation of Ontario all facilitated this flow of money. Branches of the Dominion Bank were opened after the turn of the century at points where Osler had business ties, while Osler, Hammond, and Nanton managed institutional investments in western mortgages and debentures. Osler's firm also began offering insurance and serving development more broadly by selling the bonds and debentures of western municipalities to British investors. In addition, a good deal of the firm's business followed the CPR's drive into the Kootenay mining country of British Columbia, as did Osler's private investments. In 1897, for instance, the Monetary Times (Toronto) identified him as a prominent shareholder in two stock exchange listings, the War Eagle mine and the Consolidated Cariboo Hydraulic Mining Company, which had its head office in Toronto.
In 1901 Osler became president of the Dominion Bank. He would, however, play almost no role within the Canadian banking system other than giving addresses at annual meetings. Rather, he was a capitalist in banking. On assuming the presidency, he turned over his seat on the stock exchange to his son Francis Gordon, who had joined Osler and Hammond in 1895. Osler Sr nonetheless remained in control of the firm, which continued to concentrate on western business. Having watched the west grow, he was always conscious of the vital role that foreign and eastern investment played in its development. When economic turmoil surfaced in 1907 and slowed progress there, Osler answered western critics of the banks by pointing to very large western loans, which far exceeded bank deposits in the western provinces. In 1913, when prairie farmers and others argued for subsidization of the Canadian Northern Railway, Osler, speaking from a CPR standpoint, denounced any support. Despite his belief in the future of the west, his business ties to Toronto, where he operated increasingly in concert with Wilmot Deloui Matthews*, weakened the currency of his opinion in many western quarters.
Success had brought calls for Osler to enter politics. He answered them for the first time in late 1891, when he joined the Toronto mayoralty race with the support of Goldwin Smith* and a team from the city's establishment. His "silk stocking" candidacy fell flat and he was defeated by Robert John Fleming. A poor speaker, he had not warmed to popular demands for Sunday streetcars nor evidently, had he comprehended the commitment required because he had conducted his affairs as usual and even travelled to England on business. The observation made in the family history, that he "had little appetite for politics," may help explain this behaviour. At the same time it raises questions about his return to the House of Commons as a Conservative for Toronto West in 1896, the same year he was president of the Board of Trade, and his success in four subsequent contests.
Osler's political ideals are not easily discerned. During the 1896 election, when the Conservatives were divided over the Manitoba school question and party leader Sir Charles Tupper* had embraced remedial legislation to restore the rights of Catholic Manitobans to publicly funded education, Osler opposed Tupper's position. Although he was said to "believe in all Conservative doctrine," he had a streak of independence; he apparently defined his conservatism somewhat differently than the pragmatic side of the party, which expanded the common ground between French and English, Catholic and Protestant. The electoral victory of Wilfrid Laurier*'s Liberals prompted Joseph Wesley Flavelle*, a rising business Titan in Toronto, to suggest a rejuvenation fund for a Conservative party that he thought was falling into serious decline. Osler and the few other prominent Tories canvassed rejected the scheme. One wonders if Osler ever wished he had backed Flavelle's initiative during the 14 years the Tories were in opposition.
Osler's continued political success leaves many questions unanswered. Like his fellow businessman and Conservative counterpart in Toronto East, Albert Edward Kemp, he was not apt to "overwork Hansard." He was more likely, it seems, to talk in the quiet of parliamentary lounges, avoid fracas in the house, and attend to regional concerns as chairman of the executive committee of the Ontario Conservative Association. Consequently, his tenure in parliament was largely uncontentious and uneventful. Near the end, a newspaper reported "after seventeen years in the House Osler speaks," but this comment is somewhat misleading. In 1901 and 1903 he had tangled with finance minister William Stevens Fielding over budgets and railways. Osler, who sat on the CPR's executive committee, was himself targeted in the house in 1903–4 as a representative of the undue influence of railways in Canadian politics. As well, he was at the centre of a controversy that would play a small part in the defeat of Laurier's Liberals.
In December 1910 Osler shared the national spotlight with Fielding after the collapse of the Farmers Bank of Canada. Considered by some to be "well fitted" to be minister (had his party been in power), he had been a critic of the bank since its inception. When it applied to the Treasury Board to open for business in 1906, he privately warned Fielding that it was a fraud and that its application should be denied. More alive to the political price of refusing, the minister ignored the warnings of Osler and a good many others. On the bank's failure, he headed for cover and blamed Osler for not giving him more evidence to work with. For Osler and his colleagues the collapse offered a useful tool to undermine the Liberals' business credibility in the debate over reciprocity during the election of 1911. It was Osler's last contest, for he declined to run in 1917; he was 68 and had had reservations about the Union government formed months before by Conservative leader Sir Robert Laird Borden*.
The start of World War I in 1914 had brought financial panic to Canada and a crisis in mortgage financing. The prime minister's office was inundated with calls from across the country, and especially the west, for a moratorium on debts. Osler, afraid that Borden would succumb to the political pressure, reminded him that, since 1912, many British investors with mortgage securities from the west had not received payments and that a moratorium would likely scare off future investment, to the great disadvantage of western development.
By the time the war had broken out, Osler was well known in Toronto for his civic and philanthropic efforts as well as his discreet financial endeavours. He had helped fund the new Toronto General Hospital, and was president (1899–1921) of the Ontario Rifle Association. A major purchaser of art – in 1903 he had bought a large collection of works by Paul Kane* – he was a benefactor of the Art Gallery of Toronto, and in 1912, the year of his knighthood, he had been instrumental in the creation of the Royal Ontario Museum. Osler's cultural tastes are reflected too in the selection of the Toronto architectural firm of Darling and Pearson to design the Dominion Bank's magnificent head office at Yonge and King in 1913–14, and many of its new branch buildings.
In the early months of the war a less impressive side of Osler was revealed by the "German professors issue" at the University of Toronto, where he had been a member of the board of governors since 1906. The sons of a German-born professor at University College took exception to an anti-German speech by their school principal. The protest led two newspapers to demand the dismissal of all three of the university's German-born professors. Osler and his fellow governors concurred but President Robert Alexander Falconer* claimed that they had done no wrong. After a compromise was found, placing the professors on leave, Osler tendered his resignation but it was not accepted.
His reaction in this issue was likely symptomatic of the single-minded determination throughout most of the dominion to defeat the enemy, a spirit that proved more productive, in Osler's case, when applied to war finance. He was a major contributor to the Canadian Patriotic Fund. Through Osler and Hammond, and its Winnipeg branch, dominion bonds were sold to institutional investors, easing the burden of government debt that was piling up in New York. In the west, the firm's influence was also demonstrated in the four Victory Loans campaigns of 1917–19, during which more than $246 million worth of bonds were sold through Osler, Hammond, and Nanton. When the war ended, Osler, one of Toronto's richest men, turned his attention to the economic aftermath and preached a gospel of caution. To each board member of the Dominion Bank he distributed a copy of Poor Richard's almanack, Benjamin Franklin's homage to frugality.
Canada had been transformed by the war, and in its wake Canadian businessmen encountered an increasingly hostile public. Many wanted villains to blame for the economic and social woes that had befallen the country; money-men and banks were fair game. As a bank president and a financier who had served the needs of western agriculturalists and municipalities, Osler took offence at allegations that banks were not loaning farmers sufficient money. The fallout from the war made profits unseemly and Osler, like other presidents, found himself in the somewhat uncomfortable position of having to defend the profitability of Canadian banks, a situation that had arisen before the war and grew more pressing after it.
From the porch of Craigleigh, his 13-acre estate in the Rosedale area of Toronto, Osler looked out at a Canada that was very different from the one he had known as a boy and as a young businessman. He understood the changes that had taken place in business. Finance capitalism, in particular, had emerged as a critical component of national development. In 1921, at age 76, Osler retained a high corporate status beyond his bank and Osler and Hammond, as the president of three companies, vice-president of another, and a director of eight.
Within his family circle, his wife had passed away in 1910, and his brothers, Featherston, Britton Bath*, and Sir William*, predeceased him. Sir E. B. Osler died at Craigleigh in 1924. He left an estate worth almost $4 million and a most unusual will. In his final years he had evidently written letters to friends and acquaintances promising money in recognition of their support; a special fund was set up from his estate to cover these obligations. All claimants had to do was present Osler's letter and his promise would be made good.
[Few primary sources have survived that reveal much about Osler's domestic, business, and political life. Some details have been gleaned from materials in the Toronto Dominion Bank Arch.; the Biog. scrapbooks at the TRL; the Borden papers (MG 26, H) and W. C. Good papers (MG 27, III, C1) at the LAC; and the William S. Fielding papers at the NSARM (MG 2, 422–541, 784–90(B)). j.a.t.-e.]
Mail (Toronto), 25 Sept. 1873. Christopher Armstrong and H. V. Nelles, The revenge of the Methodist bicycle company: Sunday streetcars and municipal reform in Toronto, 1887–1897 (Toronto, 1977). Michael Bliss, A Canadian millionaire: the life and business times of Sir Joseph Flavelle, bart., 1858–1939 (Toronto, 1978). A. [C. Boyd] Wilkinson, Lions in the way: a discursive history of the Oslers (Toronto, 1956). Canadian annual rev. Canadian men and women of the time (Morgan; 1912). Dominion annual reg., 1882–83. J. A. Eagle, The Canadian Pacific Railway and the development of western Canada, 1896–1914 (Kingston, Ont., 1989). Encyclopaedia of Canadian biography . . . , vol.2. R. G. MacBeth, Sir Augustus Nanton, a biography (Toronto, 1931). G. P. Marchildon, Profits and politics: Beaverbrook and the Gilded Age of Canadian finance (Toronto, 1996). Ontario and the First World War, 1914–1918; a collection of documents, ed. and intro. B. M. Wilson (Toronto, 1977). Joseph Schull, 100 years of banking in Canada: a history of the Toronto-Dominion Bank (Toronto, 1958). O. D. Skelton, The Dominion Bank, fifty years of banking service, 1871–1921 ([Toronto, 1922]). Standard dict. of Canadian biog. (Roberts and Tunnell), vol.1. A. S. Thompson, Spadina: a story of old Toronto (Toronto, 1975). J. F. Whiteside, "The Toronto Stock Exchange to 1900: its membership and the development of the share market" (ma thesis, Trent Univ., Peterborough, Ont., 1979). Who's who in Canada, 1922.
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John A. Turley-Ewart, "OSLER, Sir EDMUND BOYD," in Dictionary of Canadian Biography, vol. 15, University of Toronto/Université Laval, 2003–, accessed February 23, 2024, http://www.biographi.ca/en/bio/osler_edmund_boyd_15E.html.
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Permalink: | http://www.biographi.ca/en/bio/osler_edmund_boyd_15E.html |
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Publication Name: | Dictionary of Canadian Biography, vol. 15 |
Publisher: | University of Toronto/Université Laval |
Year of publication: | 2005 |
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Access Date: | February 23, 2024 |


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Popular Delusions: The bull case for safe havens
Dylan Grice
November 30, 2012
A month ago in Outside the Box, Dylan Grice made the case for the need for safe havens, due to expansive monetary policy. But what is a safe haven anymore?
In today's piece, a follow-up to last month's, Dylan gives us a very good rundown on the historical relationship between equities and government bonds, in order to point out the very atypical current negative correlation between them. He then observes that
… what constitutes the 'safe haven' changes over time. It's important to remember not only that government bonds aren't always the market's safe haven, but that that there will always be a safe haven somewhere. For all the headlines about the billions wiped off stock market values during market routs, that money had to go somewhere. It doesn't just disappear. It will go into whatever the safe haven is, which in normal times will be bonds. But what happens when government bonds themselves fall victim to the primary ills of the day?
So where are the safe havens when treasuries underperform? Read on!
By the way, I plan to be in London on January 15 to attend a conference sponsored by Societe Generale. My good friends Dylan Grice and Albert Edwards will be speaking, and a few of us will slip away for dinner.
I am sending this OTB from the Lindbergh Terminal of the Minneapolis–St. Paul Airport, on my way back from Bismarck, ND. I have now been to 49 states, with only South Dakota to go. The Bakken oil field is amazing and the helicopter tour was eye-opening. I am going to write about it this weekend as part of looking at the larger picture of energy and change.
It is not just about drilling and finding more oil. The changes here connect to fingers of instability and money all over the world – what happens in the Bakken and other places like it will not stay in the Bakken. I am glad I have a few days to process what I saw, before I write. I really learned a great deal and hope to pass on a few insights, and maybe a story or two.
Having my son Chad with me was really special. He has not been my kid who wanted to just jump on planes and go, but he really did like Bismarck. Dave Hoekstra, the president of BNC Bank in Bismarck, met Chad yesterday morning and grabbed him and took him on a tour of the town, even introducing him to potential employers while I was out touring the oil patch. What a nice thing to do. But everyone I met was gracious and helpful. Quite the friendly place. If cold. It was 9 degrees when we visited the oil rig and the wind chill took it down to minus 10-15. Can you say brutal? Even the locals were cold. Though they pointed out that it's not officially winter yet.
Assuming American Airlines gets me to Dallas on time (which they seem to be able to do just fine; you've got to love it), I will see Andrea Bocelli tonight. I bought tickets the first hour they were offered and have been waiting a long time for this.
I now hit the send button from my Swiss Army knife, aka my iPad. Have a great weekend.
Your ready to be warmer analyst,
John Mauldin, Editor
Outside the Box
Popular Delusions
The bull case for safe havens
By Dylan Grice, Societe Generale
Government securities are the default safe haven in times of heightened risk aversion. But what happens when Government finances are the cause of the tension? Where are the safe havens then? We offer some thoughts inside .… and more!
In a marked softening of the IMF's former tone, its chief economist Olivier Blanchard, speaking in Tokyo, earnestly pronounced that the prudent policy maker should now be "ready to adjust the [budget] targets" if achieving those targets becomes too painful. Is the bitter medicine of the IMF's hitherto unshakable orthodoxy, once deemed cathartic to emerging market victims of economic calamity past, too bitter a pill for more sensitive Western palates?
A harrowing BBC report suggests Greece is Balkanising once more. We are reminded that its civil war only ended in 1949 and that harsh austerity is reopening deep social wounds. Yet Spain's civil war ended only a few years earlier, and a generation ago it was a fascist military dictatorship. Couldn't it go the same way if subject to the same stress?
Thus Nobel Prize winning clever clogs Paul Krugman says austerity is "fundamentally mad" and all reasonable people agree with his diagnosis, it seems. Spain looks set to finally benefit from the ECB's printing press with only token conditionality. And poor Greece, close to being cut loose earlier in the year, is once more nestling in the warm bosom of the Teutonic embrace … well … it's being given more time, at least, to pretend it is able to repay the unrepayable ….
The rest of the watching world has learned the lesson too. BoE governor King, with a nudge and a wink in the direction of the UK chancellor, says missing debt targets is fine "so long as there is an excuse". Meanwhile, Ben Bernanke urges Congress to "you know, work together to find a solution" to the looming 'fiscal cliff'. The grim reaper of fiscal austerity has been banished, it seems. Market relief is palpable.
But is it any different from the relief felt by a chronic alcoholic reaching for the booze once again, convincing himself he'll give it up tomorrow? The fundamental issue of balance sheet unsustainability has not been addressed. The need to delever remains. Albert and I have always felt that inflation would ultimately prove to be the path of least political resistance, and these events have confirmed that assessment. Deflationary deleveraging is politically non-viable, leaving inflationary deleveraging as the only remaining option, as far as I can see. Economists the world over seem very confident that such inflation can be generated in a controlled and nondisruptive fashion. There is a first time for everything, I suppose. But I'm very sceptical. I wrote a few weeks ago that I feared a Great Disorder and that I remain bullish on 'safe havens'. But what exactly are suitable safe havens for such a circumstance?
Generally, and especially over the last decade, government bonds have been the safe haven. 'Risk-on risk-off' might be the catchy nomenclature du jour, but the fact is that government bonds have generally benefitted from their safe haven status throughout the past decade. The following chart shows that status reflected in the negative correlation between Treasuries and the S&P500 over this period.
Historically speaking, these last ten years are an outlier. Over time, what's good for the currency and for government finances (bonds) should be good for the rest of the economy (equities) and vice versa. The correlation should be positive. Indeed, the following chart shows that the correlation generally has been positive, averaging +0.2 between 1875 and 2002, but -0.3 since 2002 (for the whole period, the average was +0.15).
It's worth pondering this for a few moments. To help, I've arbitrarily separated the sample into three periods. The period from 1875 to 1970 saw a number of monetary regimes, each involving a peg to gold in a progressively less robust way. Yet overall inflation expectations were stable during this period. Bonds were reliable safe havens. The correlation would briefly turn negative during recessions or depressions as bond prices rose during stock market declines, but the overriding correlation between them was positive.
Things changed following the collapse of the Bretton Woods regime in 1971 and the embracing of an explicitly unanchored currency. In the 1970s, although the correlation weakened during stock market declines as it had done previously, it didn't turn negative. In other words, government bond prices no longer rose during stock market declines, they just didn't fall by as much. Moreover, the overall correlation was positive. What was bad for bonds was bad for equities too. Government securities consequently lost their safe haven status because they were highly vulnerable to the prominent macro risk of the day, inflation In the 1980s and 1990s the inflation dynamic was reversed. As 'order' was restored, inflation was brought under control and a spectacular bull market in bonds ensued. What was now very good for bonds was even better for stocks. Again, therefore, the correlation was strongly positive overall. It would fall during equity market declines but it never went negative because both the bond and equity bull markets were so powerful and the equity drawdowns so shortlived that the three-year correlation never had a chance to go negative (even in the year of the 1987 crash, stocks finished the year higher than they started it). Ultimately, the bond bull market helped to inflate equities to the unprecedented valuation bubble witnessed at the turn of the century. When that bubble burst, the correlation turned negative, and has remained there ever since. This is Albert's 'Ice Age'.
This little exercise gives us an appreciation of how unusual it is for the bond-equity correlation to be negative for any period of time, i.e. for a macro regime to be good for bonds but bad for equities over any medium to long-run period. It's interesting to think about what sort of regime that is too. I think one possibility has to do with the unwinding of extreme valuations, which has certainly been the story in equity markets over the past decade. It has also been a huge part of Japan's story. There, the bond-equity correlation also turned, and stayed, negative following the even more extreme equity overvaluation reached in the late 1980s. There is much food for thought here.
Our second observation is what constitutes the 'safe haven' changes over time. It's important to remember not only that government bonds aren't always the market's safe haven, but that that there will always be a safe haven somewhere. For all the headlines about the billions wiped off stock market values during market routs, that money had to go somewhere. It doesn't just disappear. It will go into whatever the safe haven is, which in normal times will be bonds. But what happens when government bonds themselves fall victim to the primary ills of the day? In the 1970s, bonds were no place to seek refuge from the inflation and so the safe haven mantle passed to gold (see following chart). This is one reason I remain a gold bull.
But the eurozone threw up other interesting examples. Before the crisis, Spanish investors, for example, would normally have considered their sovereign bonds a safe haven on 'risk-off' days. But that stopped working when their sovereigns became the source of risk rather than a shelter from it. Bunds undoubtedly caught some of that safe haven bid, but did the very high quality, zero debt, local-champion-made-good retailer Inditex catch a similar bid too?
A similar picture emerges with the standard quality equity names in countries afflicted by the eurozone sovereign crisis. For example, Hellenic Bottling (Greece), Luxoticca (Italy) and Kerry Group (Ireland) all followed a similar pattern, outperforming their domestic equity indices and performing the safe haven role vacated by their government bonds (see below).
We see the same effect more generally when we look at Quality Income equities through the same lens. The following chart shows how the relative performance of the SG Quality Income Index relative to the MSCI World has moved with confidence in Italy's government.
So besides gold, another candidate for safe haven status in the event government bonds become unreliable in that department are equity securities in high quality and robust businesses. I therefore remain very bullish of these too. In recent months, some of you have voiced concern that the time might not be right to buy such names because they have become very overvalued. The following chart suggests otherwise. It compares the forward PE ratios on Quality Income equities (shown here using the SGQI) with those of the overall market. While the overall market is arguably attractively priced (certainly more attractively priced than it has been for some time), the SGQI is priced in line with its historical average.
That implies that expected returns from here should be consistent with its long-run average return, which has been around 6-7%. That's hardly a once in a lifetime return, but for now, and for a potential safe haven I find it quite attractive because it comes with an embedded robustness. Suppose I'm all wrong in my fears. Suppose that we go all Japanese and the next decades are low-growth muddlethroughs.
A 6-7% return isn't a bad prospect at all. But now suppose I am right, and government bonds cease acting as safe havens. Owning such equities implies owning the new safe havens (especially if the rest of the portfolio is made up of cash and gold). So we're on high ground with this strategy, and have a degree of robustness to the reality that we just don't know what the future holds. That doesn't guarantee survival from the worst case scenario, but it gives a better chance.


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Alex Bracetti
Alex Bracetti is a freelance lifestyle writer based out of Brooklyn, New York. Before establishing himself as one of the industry's top grooming experts, he gained notoriety as a consumer tech writer for major lifestyle publications such as Complex and Thrillist, specializing in covering popular tech trends ranging from mobile to social media.
Bold. Charming. Debonair. Professional. Witty. His character has proven to be a reflection of his hard work and frank writing style, which continues to define him alongside an entertaining, read-worthy portfolio. Much of his success has come under the tutelage of established and revered editors, all of whom have left their mark on the journalism field over the past decade.
His grooming articles have been shared across the web and on prominent media platforms, reaching audiences across the globe and social sphere. Most readers will be familiar with his crowd-pleasing mega-guides and how-tos. Occasionally, he'll interview celebrities and geek out by providing the 411 on the latest tech buzz.
He currently contributes to AskMen, focusing on the topic of men's grooming while also covering topics such as fashion, gear, sports, technology, videos games, and more. He works with all the major grooming brands and skincare specialists to produce innovative content that appeals to the modern gentleman -- breaking down the market's best products and bro-beauty breakthroughs.
Alex is also considered by many to be a walking encyclopedia of pop culture knowledge. (Not to mention that he is a bachelor drawn to beautiful smiles; positive vibes; tequila and whiskey connoisseurs; and occasional sarcastic banter.) His personal interests include art galleries, basketball, exploration, fine cuisine, fitness, Netflix-binging, retro gaming, travel, and anything '90s.
Follow him on Instagram and Twitter, like him on Facebook or email him at [email protected].


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Want to message Mark Zuckerberg on Facebook? For $100, your note will land in his inbox.
Traditionally, if a Facebook user messages someone outside his or her network, the missive gets sent to the "Other" mailbox -- a rarely checked purgatory most users don't even know exists. It's a practice intended to protect users from a spam deluge.
Facebook said in December that it would begin testing out paid messages, allowing users to contact people with whom they have no direct connection in return for a fee. Facebook didn't say at the time how much it would cost, but the answer turns out to be "a lot."
Mashable discovered on Thursday that sending a message to Facebook founder Zuckerberg carries a $100 price tag. That's also what it costs to message Facebook COO Sheryl Sandburg , CFO David Ebersman, and several other Facebook members CNNMoney tried, such as Digg founder Kevin Rose.
"We are testing some extreme price points to see what works to filter spam," a Facebook representative told CNNMoney.
The messaging fee is one of several new revenue streams Facebook is testing out. The company has traditionally drawn most of its revenue from advertising sales, but its latest experiments explore generating cash directly from its 1 billion members.
Ahead of the holidays, Facebook (FB) launched "Facebook Gifts," allowing users to purchase real-world gifts for their Facebook friends. In October, the social network started testing out a "Promote" feature that lets users pay $7 to broadly broadcast important pictures or announcements.


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Navigate Your Neuron! @ Barbican Brain Waves Weekender…
MzTEK is participating on the Barbican Weekender this 2 & 3 March, delivering the positively buzzing soft-circuit workshop Navigate Your Neuron!
Use soft-circuit electronics to make a wearable interactive neuron glove that lights up the Axon and buzzes at the Presynaptic Terminals when you stimulate the Dendrites.
This workshop maps a neuron's main components along an arm length glove, and uses electricity to send the signal from a touch sensor on the finger, up the arm via some lights to a buzzer in the elbow.
The workshops are free and open to all, and will run for 2 hours on both days. We recommend you come and sign up early on the day to avoid disappointment.


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I'm currently doing a movie where I use FCP7s "bad TV"-effect quite a lot to cut within and between scenes. The effect basically emulates a bad TV set where the picture come and go with roll, wave, jitter and color sync artefacts (c.f Battlefield 3 trailer).
Now, I need some sounds to go with these transitions. White noise is a given but I will need clicks, pops and hums to go with that if you understand what I mean. I own the Propellerheads Reason/Record suite so if there are any tutorial for making suitable sounds in these, I'm all ears. Also, recommendations of free sound effects that can be downloaded somewhere are also very welcome.


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The University of Central Florida (UCF) Forum is a weekly series of opinion columns presented by the UCF News & Information. The columns are the opinions of the writers, who serve on the UCF Forum panel of faculty members, staffers and students for a year. A new column is posted each Wednesday at UCF Today and then broadcast between 7:50 and 8 a.m. Sunday on WUCF-FM (89.9).
Publication Date
As an immigrant born in Delhi, India, I must stress that the United States has provided me with the opportunity to achieve most of my dreams.
University of Central Florida
STARS Citation
Chopra, Manoj, "The Magic of America: a Roller Coaster of Opportunities" (2017). UCF Forum. 268.
UCF Forum note
Information presented on this website is considered public information (unless otherwise noted) and may be distributed or copied. Use of appropriate byline/photo/image credit is requested. We recommend that UCF data be acquired directly from a UCF server and not through other sources that may change the data in some way. While UCF makes every effort to provide accurate and complete information, various data such as names, telephone numbers, etc. may change prior to updating.


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"Turbulence and internal waves in tidal flow over topography."
Background:Bishakhdatta Gayen received a degree in Bachelor of Mechanical Engineering from Jadavpur University in Kolkata, India in 2006, and a M.S. degree in Engineering Science, majoring in Fluid Mechanics, from the Jawaharlal Nehru Centre for Advanced Scientific Research, Bangalore, in 2007. He was then awarded University of California Graduate Fellowship and received an M.S. (2010) and Ph.D. (2012) from University of California, San Diego. He pursued research work on "Turbulence and Internal Waves in Tidal Flow over Topography" under the guidance of Prof. Sutanu Sarkar. The thesis research was funded by ONR and NSF. Bishakh is currently a Postdoctoral Fellow working with Prof. Ross Griffiths at the Australian National University in Canberra. His current research interests are nonlinear internal waves in the ocean, turbulent convection, modeling of Antarctic ice melting and Southern ocean dynamics.


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How Space Weather Can Damage Transformers
Our electrical power system supplies our homes and businesses with electricity. Space weather storms can mess up the power system, leaving us without electricity. A transformer is a piece of equipment that is used a lot in electrical power systems. A transformer converts electricity from one voltage to another. Transformers can be damaged or destroyed by surges of electricity caused by a space weather storm.
A transformer is designed to work well with AC (Alternating Current) electricity. That's the kind of electricity that normally flows through the wires of our power systems. Space weather can cause DC (Direct Current) electricity to flow through the wires and transformers. DC electricity is bad for transformers.
When transformers get too much DC electricity, they heat up. Parts of the transformer might melt. Oil in the transformer can catch on fire. Some transformers can even explode!
Even if the transformer isn't destroyed, it might be damaged. It might wear out sooner and need to be replaced.


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India Fridge Magnet Set of 3 in Metal
Key Features
- Size : 9 cm x 19 cm x 0.5 cm & 6 cm x 4 cm x 0.5 cm
- Weight : 73 grams
- Material : Metal
- Care Instruction : Wipe it clean with soft & dry cloth
- Disclaimer : Handcrafted and Made in India
- Dispatched in 1-2 days
The Bombay Store brings you to this fridge magnet which makes the perfect souvenir. It has been designed to make you smile and even reminisce about some memorable moments that you have enjoyed in India.
The Bombay Store brings to you authentic handicraft products from all across India.
Proud to be Swadeshi since 1906
Style Code : TBS14647


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A writeup about In Search of Tenkara Part 3 is below. In case you missed parts 1 and 2:
In Search of Tenkara, Part 2:
In Search of Tenkara, Part 1:
About "In Search of Tenkara, Part 3″:
Let me get this out of the way first: I used non-tenkara flies, split shot and even a bobber! Let me explain (and I cover this in the video too).
Over the last couple of days my "one fly" (technique over gear) approach was really challenged. For over 2.5 years I have chosen to stick with one fly pattern and focus on refining techniques, as my teachers in Japan have taught me, to see how far I could go with using one fly pattern.
I once said to a class that "the one fly approach works…until it doesn't". In streams, spring creeks and rivers thorough the US, in different seasons, the approach has so far always worked. However, I have been waiting for a moment to be shown that it does not; and when the moment came I would not be above changing flies. I thought this finally would be the time where "one fly" would be proven to not work everywhere.
In order to make the most of our time shooting for the show, I adopted the rig and flies shown to us by our local guide. For the first time in over 2.5 years I have tied on a fly other than a sakasa kebari. And, for the first time in my fly-fishing experience I have actually fished with split-shot. YES! I admit it, and am not ashamed of it. Though I wish now that I had spent more time figuring out the river and what its fish wanted.
It was a hard thing for me to do, and it was hard coming to sense with it. The reasons why one fly should work, in my mind, were solid. And, I had this nagging feeling that perhaps my technique was just not up to par with those fish. The several fishing guides I met in this trip explained the Eagle River was a very difficult river, with not much diversity in bug life. They also told me in no uncertain terms that they thought my tenkara fly would not work there.
As we wrapped up the filming for the show, I stayed on the water. I really took my time to figure out what could trigger the fish. The conditions hadn't changed, there were no rises or hatches, the weather was the same and the fish, the river and the bugs in the water didn't change either. But, I really worked on my technique. After some 20-30 minutes I believe I ran into the trigger: a couple of dead-drifts over a good-looking spot, followed by a bit of holding the fly on the surface. In fact, the scene in the video above where I hold the fly on my hand and then cast and catch a fish, I had just let my fly dead-drift over the spot and then decided to drag it over the same place.
Being able to take my time without the pressure of a film crew behind me paid off handsomely with what I believe was one of the best fishing experiences of my life.
The combination of an "Eureka" moment, the beautiful scenery enhanced by the "golden hour" light, and spectacular fish takes followed by holding beautiful [and large] fish allowed me to find a part of tenkara in this trip.
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15 Responses to In Search of Tenkara, part 3 [VIDEO]
Tenkara is a fishing method. It is a great way to introduce people to fishing. It is also a way for the advanced angler to further hone his (or her) skill and everything in between. There are detractors that will speak poorly about the "one fly" method. That is their lack of discipline speaking. There is no shame in giving in to what you know, however, what is the lesson in that? Tenkara is not fly fishing, it is Tenkara. It is Japan's contribution to fly fishing. Daniel, that is a genuine smile earned through confidence in the method. Your video is an advanced lesson that supports the method of Tenkara. The self discipline of one fly is rewarding on many levels and is not an artificial culture.
Even a broken clock is right twice a day…
I appreciate the video (message) you sent.
It captures the lesson and good timing too.
Good one.
Awesome video Daniel! I have fished the Eagle many times, it can be very tricky. I cannot wait to get out to Colorado and do way more Tenkara fishing and I have thus far. I have Tenkara fished in the Blue River out of Silverthorne and had great luck and I plan on Tenkara fishing in the Frying Pan once we complete our move to Aspen. IT would be amazing to fish with you sometime! I just did a Tenkara presentation at the fly tying club that I belong to here in Minnesota and really peeked some interest in this style of fly fishing! I am thinking there are going to be a few more Tenkara anglers in the next few weeks because of my presentation. Thank you for these videos and for bringing Tenkara to us in the USA.
Daniel this makes me think of two things – firstly a quote by Thomas McGuane in his book The Longest Silence. In one story he talks about how when you're fishing and catching nothing – often you "accidentally" catch a fish. He say this is the river's way of telling you that you were reading it wrong. Sounds like that's what happened to you. I love that you went back to listening to the river and finally heard what it was saying.
Second some things you said at the end made me think of a Zen idea that Paul Arnold clued me in to – and that is Shoshin – meaning Beginner's Mind. A quote from Shunryu Suzuki "In the beginner's mind there are many possibilities, in the expert's mind there are few." I know I try to have that beginner's mind – and in fact – though I wouldn't have called it that at the time- the concept of shoshin may be a big part of why I got into tenkara and current my one-fly quest.
i really enjoyed this video daniel. like i was telling my students recently, i know i can catch fish with worms, but there is something about finding just the right technique when using tenkara, and in life, that makes the process worth while.
Great part III, way to be open about trying new things… I never thought the ever-so-famous Daniel would tie on an egg and a split-shot! HaHa. whatever works right?! I completely agree with you that once we stop learning and trying new things, we might as well stop. I feel the same way. I don't understand the appeal of using the same tried and true method every time. That's why I tie flies, so I can tie up my biggest fantasy and catch fish on it.
Oh an great footage of that brown. I love browns. Most beautiful fish, just above the Brookie.Daniel, thank you for these great videos. I am brand new to Tenkara and unfortunately, my first attempt with it was on the Eagle. I don't feel half as bad now! I walked away fishless, but knew I would be OK with that as part of my new learning experience – I enjoyed a beautiful sunny day with snow lined stream banks which made it well worth the effort.
I have since caught a couple of fish (by accident), as I am going through my learning pains but I can always walk away with the beauty of my surroundings.Great videos! What is the pant and boot set up you guys are wearing? You can hike comfortably and wade for what looks like several miles. I'm trying to find a way I can do that in Montana and Wyoming this summer.
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(visited by Gerhard Kaufmann and Jamila Ahejjam)
27-Apr-2002 -- After our successful visit of the Confluence 33°N 8°W yesterday afternoon, we still had our rented car until 12 o'clock today. As the Confluence 33°N 7°W was located only 15 km NW of my brother-in-law's apartment in Khurībga, this should be feasible. At 8 o'clock in the morning, Jamila and I left the house before breakfast to tackle the last remaining Confluence on our list.
Referring to my roadmap, there should exist a smaller road branching off from the main road P 13, 12 km west of Khurībga, and leading close to the Confluence. We quickly found the dirt road beside a fenced area with trees, and began to follow it in a northerly direction. But this road soon turned out to be in a very bad condition, deeply washed out grooves, many boulders, deep traces of vehicles, moreover it ran slightly left of the Confluence's direction. All around were endless barley fields, now and then a farmhouse, but no other roads going off in the direction we wanted. In the end it was clear that this road wouldn't approach the Confluence nearer than about three kilometres. When I was already considering to stop and turn, we finally found a way branching off to the right, which meant a new chance to get nearer. This carriageway was even worse than the first, but we slowly got along while I was steering wildly our car, not being designed for this type of terrain, around the potholes, to avoid hitting nasty protruding stones with its underside.
After some time, we arrived at a crossroad, now only 1.5 km SSE of the Confluence. A quite good-looking dirt road came from the direction of Khurībga, and went on in the Confluence's direction. Since a while I had noticed that our car was alarmingly low on gasoline, and not knowing how we would have to get back to town, we decided to ask at a farmhouse near the crossroad for permission to leave the car there, and do the rest on foot. It was now 9:30 a.m. and the weather was becoming warm, we followed the carriageway, passed some other farmhouses surrounded by opuntia cacti, and already from afar I could make out a big tree (Picture #8) on a hill as a guiding sign obviously near to our goal. After the road had ended at a farmhouse, we could walk on over an empty field, but when we had climbed the hill with the tree, we stood again on the edge of a large barley field, the GPS receiver indicated a remaining distance of exactly 100 m.
Jamila asked a man working in the fields nearby (it turned out that he was the land owner) for permission to step inside the field, which he granted freely. So we could visit finally even the last of our planned six Confluences! We arrived at the Confluence 33°N 7°W in the middle of a barley field (Picture #1) full of flowers at 10 a.m. GMT (UT + 0). The GPS receiver (Picture #6) indicated an altitude of 790 m and an accuracy of 5 m. The farmhouses (Picture #4) all around were part of a community called al-Brāziyīn Awlād Šarqiyy.
On the way back, it had become really hot, and we arrived quite exhausted at our car. When he saw us returning, the farmer came to us and invited us to have a tea in his house, but we had only one hour left now to bring the car to the rental, and so we could only accept to drink each a big cup of fresh buttermilk. The farmer, sad about our quick departure, confirmed that the road would lead back to Khurībga, and invited us to come back to him whenever we liked. And the road in fact lead back to town, it was in a very good condition, no comparison with the cart-tracks we had struggled along before, and after only a short while we came back to the main road P 13 at 32°54'8"N 6°56'25"W, 12 km SSE of the Confluence and only 3 km away from Khurībga! If we had already known this way in the morning...
In the evening, we took another night coach back to Agadir, where we arrived the next morning. Another two days later, my sojourn in Morocco ended (but not my wife's and son's) and I had to return to Germany.
When we came to Morocco, we had a very ambitious goal: Six yet undiscovered Degree Confluences. The probability was high that some of them might be out of reach for us. But four weeks later, we had discovered all of them during only six days of confluence hunting! In these days, we had seen beautiful sceneries, we had climbed mountains and crossed plains, we had found enchanted spots covered all over with flowers in a normally arid region, we had ventured to drive along roads and to walk across landscapes that we otherwise maybe wouldn't even have noticed.
And what was most fascinating: We met wonderful and friendly people wherever we came, who never even asked what we were doing on their land, or why we had come to them. Instead they offered us all their kind help and their warm hospitality without even knowing our names, they offered us to eat and to drink without the least demand. (So to speak: Not a single one took us for "chicken", but to be fleeced of your "feathers" maybe you also have to behave as a "chicken" beforehand, and this does not at all apply to Morocco alone!) Our only regret being that we had to refuse too often the people's friendly invitations because of a lack of time. A constraint to be avoided next time absolutely for sure!
So it remains only to pass my great thanks to the Degree Confluence Project who was the cause for all the beautiful adventures we could experience, and my even warmer thanks and salutes to everybody whom we met during our confluence hunting, most of whom will probably never ever hear of such strange things as Degree Confluences, although they might be walking over one every single day...
Narration began at 30°N 9°W and ends here.


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DiscoverMichael Santos Mindset
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Michael Santos Mindset
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© Michael Santos
Share strategies and tactics to overcome struggle and prepare for success. I served 26 years in prison. Lessons I learned changed the way I think and helped me develop a stronger mindset. Those mindset strategies and tactics prepared me for success. Each day I share those strategies and tactics to teach and inspire others. Click here to learn more about my story: https://michaelsantos.com/ Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
18 Episodes
To build more success in your career, in your business, in your life, live authentically. That's a lesson I learned from leaders who held a success mindset. It worked for leaders like Bill Gates, Warren Buffett, and Steve Jobs. It also worked for me and it can work for you.
If you want to learn more about the many lessons that powered me through 26 years in prison and allowed me to prepare for prosperity, please visit https://michaelsantos.com. You can download a free book that will show you the meaning of authenticity. You can also see examples by checking out the website.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
When we live in a state of gratitude, more blessings open up for us. I learned that lesson while climbing through 9,500 days in prison. During those 26 years, I maintained a high level of energy and discipline, largely because I appreciated the many blessings that had come my way.
Prior to learning about this concept of gratitude, a series of bad decisions drove my life. For that reason, I allowed others to influence me. Although I was a teenager when I began breaking the law, the bad decisions I made exposed me to severe challenges in the criminal justice system. Yet rather than blaming anyone or anything else for the predicament my decisions had created, I learned to think differently. And I'm grateful. Those new thoughts helped me feel stronger and helped to build my confidence. That made all the difference in the world. I learned to live in a state of gratitude and to be appreciative-even though I was in prison.
To learn more, visit https://michaelsantos.com.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Success doesn't happen by accident and it rarely comes overnight. We're far more likely to succeed if we engineer the course of action. Take small, incremental action steps that can bring the outcome we want.
In today's Michael Santos Mindset podcast, I talk about celebrating achievements. I used this strategy to stay motivated. That motivation allowed me to climb through 9,500 days in prison with a high level of energy and discipline. The prison system and authority figures controlled many aspects of my life. Yet I could control how I would respond to that environment. I could engineer a pathway that would lead to the outcome I wanted: to return to society successfully, with opportunities to thrive.
Celebrating the small achievements helped me build confidence that I could take on larger achievements over time.
Think of the long-term goals and take incremental action steps that can help you grow!
To learn more, visit https://michaelsantos.com.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Do you really know what it means to be deliberate? In what ways are you sowing seeds today for the success you're determined to become tomorrow?
This tactic of being aware is an essential component of the success mindset. I learned the importance of being aware, or keeping my head in the game, as I climbed through 9,500 days in prison. I knew that if I did not reach beyond the prison walls, the circumstances of my life would define my future. But I didn't want the prison to define me. I needed to tap into all of my critical thinking skills. Those skills would make me more aware of opportunities I could create or seize. That awareness tactic led me to publishing. I took the necessary steps to build credentials that would persuade publishers to bring my work to market. By publishing, I made the world aware of me.
Are you ready to make the world aware of you? Then incorporate all tactics of the success mindset. To learn more, visit https://michaelsantos.com.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
If you're after a success mindset, use accountability metrics to take you to the next level and the next level after that.
With a success mindset, we look to where we want to be in the years and decades ahead. Without this tool, those visions seem distant. They're too far into the future. We can lose our way, much as we would lose our way if we were in the middle of the ocean and trying to make it to shore. One day we'd go in one direction, only to find that we're going in a different direction the next day. An accountability metric becomes our compass, keeping us going in the right direction at all times.
I relied on accountability metrics to ensure I made progress during each of the 9,500 days that I served in prison. When I concluded my term, I used accountability metrics to track progress toward the first $1 million in assets I wanted to build. Now I'm using metrics to reach $10 million in assets. Create an accountability to fuel your success!
Visit https://michaelsantos.com.
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What action steps have you taken today to show your commitment to the success you want to build in the months and years ahead?
I'm Michael Santos and I'm absolutely certain that if you follow the strategies and tactics that powered me through 9,500 days in prison, you will achieve higher levels of success. Strategies and tactics lead to a positive mindset. Taking action is an essential tactic. In today's podcast, I talk about the different tactics I used to build energy and focus. I woke early. I recorded my progress. I let the world know what I was going to do, when I was going to do it, and how the efforts I took would translate into success. I documented the tactics in a simple book I wrote called Prison! My 8,344th Day. Start taking action today and you'll achieve higher levels of success in the future.
Are you willing to do what it takes to succeed? For more insight, visit https://michaelsantos.com.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Do you know the secret to maintaining a high level of energy and discipline?
Let me tell you the solution that worked for me. I powered through 26 years as a prisoner with a success mindset. I didn't go into prison with a success mindset. Rather, I cultivated that success mindset through books I read. Those books taught me how to think about what I could do with resources around me. How could I use every day to maximize prospects for success-as I defined success. And I defined success as being able to return to society strong, with opportunities to live as a fully functioning citizen
Since I knew what I wanted, I could set a clear course of action. That course of action would drive me through the years and decades ahead. I knew what books I should read. I knew how I should spend each day. I knew that if I wanted to advance prospects for success, the responsibility was on me.
Are you willing to do what it takes to succeed? For more insight, visit https://michaelsantos.com.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Do you have the right attitude? How would you know?
I'm Michael Santos and I can tell you how having the right attitude made all of the difference in my life. The right attitude powered me through 26 years in prison, and having the right attitude led to my first million dollars after I returned to society.
We get the right attitude when we make a 100% commitment to success. And we all define success differently. That's the reason I strongly encourage you to define success in your life. What does success look like?
In my case, I am willing to work seven days a week. I'm willing to work as many as 18 hours a day, with total focus and commitment. It's my way of living with the right attitude. There isn't any complaining. Instead, it's all about gratitude. I'm grateful. No complaining.
Identify your values and goals. Then move toward them with a 100% commitment. That's why you have the right attitude.
For more insight, visit https://michaelsantos.com.
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What are you doing today to put yourself on a pathway to success?
Setting clear goals is an essential tactic that will lead you into a better place, regardless of what external circumstances are governing your life today. I learned the importance of goals at the same time that I was learning the importance of mindset and making values-based decisions. Those success mindset tactics powered me through struggle and put me on the pathway to prosperity.
Living in accordance with strategies and tactics will do the same for you.
One of the first goals I had to conquer when I got out of prison was to get a driver's license. I didn't know that I'd forgotten how to drive. While serving 26 years, driving was not a part of my life. I had to learn all over again. But achieving the goal of getting a driver's license was the first step. It led to my getting a bank account. With a job and a bank account, I could take the next step to acquire assets.
Visit https://michaelsantos.com for more.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Welcome to the Michael Santos Mindset podcast. Really want to share the strategies that powered me through 26 years in prison. Strategies and tactics helped me to develop a mindset of success. I'm confident a success mindset can lead you to prosperity, too.
In what ways are you defining success?
In what ways does your definition of success define your mindset?
Regardless of what challenges you're facing, or what external circumstances complicate your life, you can begin sowing seeds today that will lead to a better outcome. When we know the outcome we're after, we can begin laying out the path that will take us there. I used strategies and tactics to climb through 9,500 days in prison. I still use strategies and tactics as I build my career in society.
If you want to see how a positive, mindset of success drives all of my decisions, then Visit https://michaelsantos.com. I document the journey every day with hopes of teaching and inspiring others to build a positive mindset.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
In what ways are you striving to build a million dollars in equity? What options exist? In what ways do you invest time, energy, and resources to pursue the best option.
Today's podcast offers strategies to guide your thoughts.
When authorities released me from 26 years in prison, I wanted to build $1 million in assets and I had to consider options. I considered starting a business, the stock market, and real estate. To make a good decision, I considered strengths and weaknesses. Like everyone, I knew I had strengths in some areas. I had weaknesses in other areas. To build $1 million in equity, I had to focus on strengths.
I chose to invest in assets that stood a strong chance of appreciating in value. The more assets I built, the more I increased my likelihood of earning millions.
Get started in building assets. You may earn $1 million or more, too! Visit https://michaelsantos.com/ for strategies that worked for me and that can work for you.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Do you know what happens when you keep everything you say, everything you think, and everything you do in harmony? When we keep everything we think, say, and do in harmony, we develop a success mindset. Use this strategy to grow and become more successful. It will help you build a pathway from where you are to where you want to go. I kept everything I said, thought, and did in harmony while I climbed through 9,500 days in prison. The strategy influenced the books I read, the people with whom I interacted, the lessons I learned. Because I could build that success mindset, I opened opportunities to publish. And by publishing, I built a stronger support network. And by building a stronger support network, I got out of prison successfully-with opportunities to build business, contribute to society, and create prosperity. If you want to build more prosperity, start by investing in yourself. Develop a success mindset and you'll achieve more. Visit https://michaelsantos.com for more details.
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In 2008, the venerable Wall Street firm, Lehman Brothers collapsed, wiping out assets worth trillions of dollars. That collapse led to the greatest recession of our lifetime. The stock market collapsed. The real estate market collapsed. Credit dried up. It was a tough time for many families. Since then, markets recovered and even soared to new highs. In the event of another correction, will you be prepared? A success mindset will help. In this episode, I talk about strategies to prepare for war in times of peace. Like many Americans, I've had a prosperous several years. Yet assets worth millions of dollars do not solve all problems. Think ahead. Prepare for turmoil ahead. At https://michaelsantos.com I show the different strategies that I'm using. Acquiring real estate with leverage is one strategy. To fund assets, I create opportunities to raise capital. I prepare every day. I encourage you to do the same. Apply strategies and tactics to build your success mindset.
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Are you ready to start building more success in your life? Then change the way you think! In today's Michael Santos Mindset episode I reveal how a success mindset it like connecting dots. I had to start connecting dots at the start of a journey that would carry me through 26 years in federal prison. I'm revealing those dots on the My Story section of https://michaelsantos.com in an accordion fashion. The story is long, so I model the message after what I learned from #GaryVaynerchuk; if you haven't listened to @garyvee I highly recommend him as a resource. I learn a lot about creating digital content from Gary's work. Readers who want to see how a success mindset carried me through the journey can see how I connected dots that led to academic credentials, publishing credentials, raising capital, investing in stocks, building businesses, and earning millions of dollars—even though I began the journey from deep in the bowels of America's prison system. I hope you subscribe and share.
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I'm 54 years old as I record this podcast, on September 9, 2018. The Michael Santos Mindset podcast teaches others how to reach a higher potential, to break free from struggle, to build more success by changing the way we think. In episode three that I published yesterday, I revealed those ten-steps to a success mindset. In today's episode I reveal how a success mindset led to my building $5 million in assets during my first five years of liberty. Anyone who applies these strategies and tactics to build a success mindset can build more relevance, meaning, and success in life and business. If the strategies and tactics of a success mindset could work for me, they can absolutely work for anyone else who applies themselves. Remember that a success mindset requires a pattern of visualizing the best possible outcome. Creating a plan that will take you from where you are to where you aspire to go. Putting priorities in place. Then executing the plan every day. Visit https://michaelsantos.com
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
What is the Success Mindset? In this episode, I reveal more about the curriculum I'm creating at https://michaelsantos.com to the very clear pathway that will lead to a success mindset. I learned these techniques while I was locked inside of a jail cell as I was starting a sentence that would keep me in prison for multiple decades. By changing the way I think—developing a success mindset—I created opportunities that allowed me to grow. That success mindset led to new opportunities for building prosperity upon release. Now I teach that success mindset to others. Carole, my wife, is using the success-mindset techniques to launch a new business related to hospital consulting. You can use these success-mindset techniques to reach higher levels of performance in your life. Have you thought about steps you can take today to become more successful tomorrow? Today's episode will give you the strategies that have worked for me and that can work for you!
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Creating success after struggle requires incremental action steps. After 26 years in prison, I knew that I had to take specific action steps to build stability for my wife and me. What strategies are you using to build prosperity? To get to the next level, my wife used the same type of mindset strategies that motivated me through prison. We thought about ways that we could raise capital to acquire real estate. Since traditional financing like mortgages and bank loans were not available to me when I got of prison, I used creative financing techniques. By thinking creatively, we succeeded in acquiring real estate. And during the first five years of my liberty, we conducted more than $9 million in real estate transactions. Those strategies were possible because of our mindset. Now we're using the same strategy to prepare for the next five years. It's my way of incorporating lessons I learned from Professor Marshal Goldsmith's book What Got You Here Won't Get You There.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support
Revealing background on how Socrates inspired me to change the way that I think. I was locked inside of a federal prison, facing a life sentence. Rather than dwelling on the struggle, I learned how to think about what I could do to make things right. By changing the way I thought, I could seize or create opportunities. Adhering to a values-based, goal-oriented strategy empowered me and brought discipline. I used that same strategy to begin building my career after 26 years in prison. By changing my thoughts, opportunities opened for me to acquire assets and prepare for prosperity. I encourage listeners to use this same mindset to build their lives.
Support this podcast: https://podcasters.spotify.com/pod/show/michael-santos/support


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EVM Overclocking
Overclock in UBOOT. Be careful, this is only 'theoretical'. Check the datasheets for suitable values. You can also underclock to save power.
Overlocking ARM:
In UBOOT find the /boards/davinci.c file. In there there is a routine called misi_init_r.
There you can add code to change the value pf the PLL1_PLLM register.
Overclocking DDR:
Same as above, however you can set the values for PLL2_PLLM and PLL2_DIV2.
Overclocking DSP:
<to follow>


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Born in Antwerp, Martine Franck spent her childhood in the United States and in England. She studied art history at the University of Madrid, then at the Ecole du Louvre in Paris, where she presented a thesis on "the influence of cubism on sculpture". She began her career as a photographer as the assistant of Eliot Elisofon and Gjon Mili at Life magazine.
She was part of the first Vu agency in 1970, and helped found the agency Viva two years later. She joined Magnum in 1980. She made portraits of artists and writers, but her main focus was
humanitarian reportages. She photographed every production of the Théâtre du Soleil since its founding. She began collaborating with the association Little Brothers of the Poor in 1985.
In 1995, she realized, with Robert Delpire, a 26-minute film called "Ariane et Compagnie: le Théâtre du Soleil".
In 1998 her work was exhibited at the Maison Européenne de la Photographie, in Paris.
In 2000, she collaborated with Fabienne Strouvé on the film "Retour en Irlande avec Martine Franck, photographe" (Return to Ireland with Martine Franck, photographer) (France 3).
In 2001 and 2002, Martine Franck concluded a series of photographs on Tory Island, Ireland, and another on Tibetan Buddhist children in India and Nepal.
In 2002, her work was exhibited at the Musée de la Vie Romantique, in Paris.
In 2004, she photographed the Fables de La Fontaine, a show staged by Robert Wilson at the Comédie-Française, a book titled "Fables" is published by Editions Actes Sud Arles.
In 2007, "Martine Franck", number 111 of the collection Photo poche, Actes Sud is dedicated to Franck, with text by Annick Cojean. In 2007, "Martine Franck" was published by Phaïdon, London, with text by Louise Baring.
In 2010, Chanel TOKYO exhibited a series of photos by Martine Franck entitled "Femmes" (Women).
In October 2011, the Maison Européenne de la Photographie exhibited 62 portraits of artists "coming from somewhere else" photographed by Martine Franck from 1965 to 2010.
In March/April 2012 hundreds of portraits of artists by Martine Franck are exhibited at the Galerie Claude Bernard, in Paris.
Martine Franck founded in Paris with Henri Cartier-Bresson, the Fondation Henri Cartier-Bresson, which became an officially recognised foundation on March 11, 2002, and became its President in 2004.


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Ipswich back to winning ways
A brace from David McGoldrick earned Ipswich their first Sky Bet Championship win in four matches with a 3-1 victory against shot-shy Middlesbrough.
Boro took the lead through Albert Adomah's expert scissor-kick but Tony Mowbray's men were largely toothless in attack.
And while Ipswich equalised from out of nothing, McGoldrick turning Dean Whitehead and then firing in from 25 yards, the home side controlled the second half - and the goals deservedly followed.
Luke Chambers met fellow full-back Aaron Cresswell's deep cross to put Town in the lead before man-of-the-match McGoldrick raced clear to claim the points.
After a tight start, the visitors opened the scoring with the first meaningful shot of the match.
Ipswich initially cleared Jacob Butterfield's corner but it was sent back into the danger zone by Grant Leadbitter's powerful header and Adomah spectacular volleyed the ball past the exposed Dean Gerken.
It was Adomah's first goal since his B#1million switch from Bristol City but his finish was out of keeping with a dour opening half an hour.
The best moment from the out-of-sorts home side came when Paul Anderson burst into the box but Jason Steele was equal to his effort.
Then, once again out of nothing, the hosts finally produced a moment of quality.
It was all of McGoldrick's own making as he turned Whitehead before firing an unstoppable shot beyond the despairing dive of Jason Steele.
Town almost grabbed the lead within a minute of the restart. Boro looked to have cleared the danger from McGoldrick but Frazer Richardson's pass out was seized upon by Ryan Tunnicliffe whose fierce drive from distance was well parried by Steele.
But Steele could do nothing as Ipswich took the lead for the first time on 57 minutes.
Great work on the left-hand side from Tunnicliffe and Cresswell saw the latter's deep cross headed back across goal and into the far corner by Chambers.
The visitors were again guilty of some half-hearted defending as Richardson gave the ball away to Tunnicliffe but his team mates eventually came to his rescue, deflecting McGoldrick's goalbound shot away.
The Town number 10 remained the most dangerous man on the pitch and he almost scored an early contender for goal of the season when his 30-yard shot curled just wide.
As the game opened up, the home side should have made the points safe when Murphy streaked down the left but his centre was horribly miscued by Luke Hyam, 12 yards from goal and clear of any defenders.
But it mattered not as McGoldrick burst clear of Jonathan Woodgate in injury time and rolled the ball beyond Steele and into the far corner.
Source: PA
Source: PA


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Limbaugh's Latest Effort To Deflect Attention From His Misogyny
Written by Marcus Feldman
Rush Limbaugh, embattled talk show host and serial misogynist, spent a good chunk of his show pretending that Democrats are the real misogynists.
Limbaugh played a small portion of comments Democratic strategist Karen Finney made on March 13 discussing the Republican primaries in Mississippi and Alabama, in which she talked about the role identity politics sometimes plays in elections. While Finney's comments were in no way controversial, Limbaugh mischaracterized them as evidence that the Democrats were the ones engaged in a "war on women."*
This is a transparent effort to deflect attention from Limbaugh's three-day long rant against law student Sandra Fluke for daring to speak out in favor of insurance coverage for birth control. During that rant, he called Fluke a "slut" and a "prostitute" and demanded that she post sex videos in return for contraception coverage. Having lost so many advertisers due to his misogyny, he's desperate to change the story.
To say nothing of Limbaugh's other recent misogynistic attacks against author Tracie McMillan and reporters Lucia Mutikani and Alexandra Petri.
But Limbaugh still wasn't done trying to deflect attention away from his own war on women. During the show, Limbaugh attempted to paint Democrats as anti-woman because they had nominated Obama over Hillary Clinton in 2008. Limbaugh argued: "[W]hen it was her turn, when she was to be rewarded, what did they do? They got rid of the woman, as quickly as David Ehrenstein could write a column in the L.A. Times entitled 'Barack The Magic Negro' and she was history." Limbaugh also said: "From the party of women -- women are so important to the Democrat Party, Hillary Clinton was going to get the nomination. And then they took it away from her. Barack Obama."
That's right. Forget Limbaugh's on-going misogyny. (Today he actually suggested he can't be anti-woman because he judged the Miss America pageant once.) Democrats are actually the misogynists because they nominated Barack Obama over Hillary Clinton.
The language in this post has been updated. Media Matters regrets the error and apologizes to Ms. Finney for the lack of clarity in explaining that her comments are in no way comparable to Limbaugh's.


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Habari to vBulletin migration
Let us know if you want to migrate from Habari or to vBulletin
For now CMS2CMS doesn't support migration from Habari.
However, our Tech Team is working to make Habari migration possible. If you are interested to migrate from Habari please subscribe to be notified once this option will be available.
What People Say about Habari to vBulletin Migration
CMS2CMS did an amazing job migrating a very very old CMS to Wordpress. And they also migrate our large forum. They are quick with customer response which is great and have helped with any issues that I saw.
Worth every penny. Saved us many hours of hand-moving data. It got all the data from the old Drupal site and placed it in the new WordPress site. There was a slight hitch with the test, but their support worked it out very quickly.
The Hippo roller website used Joomla for five years and to implement the major decision to move to Wordpress meant moving hundreds of articles and images from K2. This seemed like a daunting task until we tested cms2cms. BRILLIANT!
I've done the test migration from Joomla to Wordpress and I could not be happier with the results! It even ported over videos connected with the articles, just fabulous.


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JOSH LEDERMAN,Associated Press MATTHEW DALY,Associated Press
WASHINGTON (AP) — President Barack Obama said Tuesday that the proposed Keystone XL pipeline project from Canada to Texas should only be approved if it doesn't worsen carbon pollution.
The $7 billion pipeline has become a contentious issue, with Republicans touting the jobs it would create and demanding its approval and environmentalists urging the Obama administration to reject it, because it would carry carbon-intensive oil from Canadian tar sands to the Texas Gulf Coast.
"Allowing the Keystone pipeline to be built requires a finding that doing so would be in our nation's interests," Obama said in a speech on climate change at Georgetown University. "Our national interest would be served only if this project does not significantly exacerbate the problem of carbon pollution."
While his remarks appeared designed to reassure environmentalist fearful that the pipeline will be approved, they could also indicate an easing of the way for the pipeline, if the carbon standard is met.
The White House has insisted the State Department is making the decision about whether the pipeline is in the national interest, but Obama made it clear Tuesday he was instructing the department to approve it only if the project won't increase overall, net emissions of greenhouse gases that contribute to global warming.
A State Department report on the pipeline earlier this year acknowledged that development of tar sands in Alberta would create greenhouse gases, but also made clear that other methods to transport the oil — including rail, trucks and barges — also pose a risk to the environment. For instance, a scenario that would move the oil on trains to mostly existing pipelines would release 8 percent more greenhouse gases such as carbon dioxide than Keystone XL, the State report said.
The report also said that even without the pipeline, extraction of oil from the tar sands would likely not be affected.
A top aide to House Speaker John Boehner, R-Ohio, said Obama's comments indicated that the pipeline should be approved.
"The standard the president set today should lead to speedy approval of the Keystone pipeline," Boehner spokesman Brendan Buck said. "Based on the lengthy review by the State Department, construction of the pipeline would not have a significant environmental impact. It's time to sign off on Keystone and put Americans to work."
Still, environmentalist took heart in Obama's remarks, noting it was the first time the administration had directly linked approval of the 1,700-mile pipeline to its effect on pollution. The White House has previously resisted efforts by environmental groups to link the Keystone project to broader efforts to curb carbon pollution from power plants.
"Today President Obama set a standard that the Keystone XL pipeline cannot harm the climate if it is to be approved. That will be difficult standard to meet," said Daniel J. Weiss, a senior fellow at the liberal leaning Center for American Progress.
"For the first time, the president has set a do-no-climate harm standard before he approves the Keystone XL pipeline," Weiss said.
Michael Brune, executive director of the Sierra Club, said the argument that the pipeline will exacerbate climate change is "very strong and compelling." He said he expects Obama to reject the pipeline.
TransCanada, the Calgary-based company that has proposed the pipeline, said in a statement Tuesday it was pleased with Obama's comments setting out criteria for pipeline approval.
"The almost five-year review of the project has already repeatedly found that these criteria are satisfied," said Russ Girling, TransCanada's president and CEO.
"If Keystone XL is not built, it's clear that the oil will move to market by truck, rail and tanker, which will significantly add to global greenhouse gas emissions to move the product," Girling said. Pipelines far safer than any other option, he added.
The pipeline would carry 800,000 barrels of oil a day across six states to refineries along the Gulf Coast. A southern leg from Cushing, Okla., to ports near Houston, already has been approved and construction is proceeding.
Supporters say the pipeline would create thousands of jobs, help lower fuel prices and bolster North American energy resources.
Opponents call the project a "carbon bomb" that would carry "dirty oil" that could trigger global warming. They also worry about a spill. Converting tar sands into oil uses as much as 15 percent more energy than conventional oil production.
Obama has twice thwarted the pipeline project amid concerns about a proposed route through environmentally sensitive land in Nebraska. The state's governor and congressional delegation — all Republicans — have either backed the plan or relaxed their opposition after the project was re-routed last year.
A national poll by the Pew Research Center showed that 66 percent of those polled favor building the pipeline, compared with 23 percent who oppose it.
Associated Press writer Rob Gillies in Toronto contributed to the report.


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Republican presidential candidate Mitt Romney is facing a barrage of criticism by implying that nearly half of all Americans "pay no income tax" and would vote for President Barack Obama because they are dependent on government handouts.
Romney was secretly recorded at a closed-door private fundraiser in Florida in May as saying: "There are 47 percent of the people who will vote for the president no matter what. All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you name it. That that's an entitlement. And the government should give it to them. And they will vote for this president no matter what."
Watch the secretly-taped video.
Pieces of the comments were first released by Mother Jones on Monday.
Just who are the 47 percent?
Romney may have been referencing the nearly half of all Americans (actually 46 percent as of 2011) who pay no federal income taxes.
The Tax Policy Center, a project of the Brookings Institution and the Urban Institute, released a detailed analysis of the group in July 2011, which NBC News.com covered in a very popular Life Inc. post.
The Tax Policy Center researchers found that about half of the group is basically exempt from federal income taxes because they are low income and also may have a large family.
In a blog released not long after its report, the TPC explained that "a couple with two children earning less than $26,400 will pay no federal income tax this year because their $11,600 standard deduction and four exemptions of $3,700 each reduce their taxable income to zero."
The other half are zeroing out their federal income tax bill with other provisions, such as itemized deductions or the child tax credit. Some are seniors who are living off Social Security.
To be clear, the people in this group are still paying taxes. They are subject to payroll taxes for things like Medicare and Social Security, federal excise taxes on things like gasoline and state and local taxes including sales taxes on items they purchase.
Not everyone who pays no federal income tax is in the lower income brackets. A separate report released last spring by the Internal Revenue Service found more than 35,000 people who made more than $200,000 in 2009 also managed to zero out their tax bills. That report noted that it generally takes a number of different credits and deductions for wealthy people to not pay any federal income taxes.
Related: Romney: Secretly recorded remarks 'not elegantly stated'