Slashdot is powered by your submissions, so send in your scoop


Forgot your password?

Comment Given that Air Force brass hate the A-10... (Score 2) 502

...and love shiny new, big-budget fighter planes, I can only assume that the test will be rigged to show the F-35 in the best light possible.

Ask yourself: How many Air Force brass made their bones flying A-10s (or cargo planes, or refueling tankers) and the answer is going to be pretty close to zero.

Comment Netcraft Confirms It (Score 1) 371

It is now official. Netcraft has confirmed: recycling is dying

One more crippling bombshell hit the already beleaguered environmental community when IDC confirmed that recycling market share has dropped yet again, now down to less than a fraction of 1 percent of all waste. Coming on the heels of a recent Netcraft survey which plainly states that recycling has lost more market share, this news serves to reinforce what we've known all along. *Recycling is collapsing in complete disarray, as fittingly exemplified by failing dead last in the recent urban priorities poll.

You don't need to be the Amazing Randi to predict recycling's future. The hand writing is on the wall: recycling faces a bleak future. In fact there won't be any future at all for recycling because recycling is dying. Things are looking very bad for recycling. As many of us are already aware, recycling continues to lose market share. Red ink flows like a river of blood.


Comment The Trailer Was Astoundingly Awful (Score 0, Redundant) 205

I have to agree with this decision, since the trailer they did release looked amazingly bad and amateurish. They leads don't seem to be good actors, have no charisma and no chemistry, what little dialog seemed uninteresting and full of cliches, and the scenes seemed badly done.

I watched this with a friend, and at the end she went "Wait, that was a real trailer? I thought it was some sort of ad!"

If that was what the film was going to be like, then best it's dead.

Comment Greece's Welfare State is Unsustainable (Score 4, Insightful) 743

I've been following the Greek debt crisis for at least five years, Greece's problem is that they absolutely refuse to stop spending money they don't have. Remember: Greece has never practiced real austerity (cutting deficits to match receipts) since they joined the Eurozone. Not once. (By contrast, Estonia did eliminate their deficit, and as a result started recovering from The Great Recession quicker than other EU economies.) Greece merely slowed the rate at which they were going more broke (or at least pretended to). Despite being right at the edge of complete national bankruptcy, Greece continues to insist that there will be “no wage or pension cuts” for government workers.

Greece lied about their economic situation to get into the Eurozone, lied about it before the crisis broke, lied after it broke, and continue to lie now.

Keep in mind that the past four years of bank loans from the ECB have not been to save Greece. What they were really designed to do was to keep the card game running long enough to let EU insiders and favored national banks unload Greek bonds, and to reduce their exposure to Greek default risks long enough to put European taxpayers onto the hook in the inevitable event of a Greek default. They pretended to save Greece, and Greece pretended to reform. And now here we are.

The adoption of the Euro hastened and deepened Greece's crisis, but was not the central cause, which was their refusal to stop spending money they didn't have to prop up their extravagant (even by European standards) welfare state. This modern welfare state has now become more sacred to voters than the capitalist economics that make it possible. As Mark Steyn put it, "People’s sense of entitlement endures long after the entitlement has ceased to make sense."

The problem is that with declining demographics, the cradle-to-grave European welfare state is unsustainable. Greece and the rest of the PIIGS are discovering that first, but birth rates are declining all across Europe, and modern welfare states are unsustainable without a new generation to stick with the bill. Most economists believe that Greece will never be able to pay back what they've already borrowed.

Syriza was elected on a platform of ignoring basic economic reality, but they've finally run out of people willing to loan them money to spend. The risk of a Grexit is already priced into all the European markets, But leaving the Eurozone doesn't provide relief for any of the Euro-denominated debt Greece already owes, and there's no guarantee European markets would even be willing to exchange refloated drachmas for real(er) money. And since it's hard to see any sane institution buying Greek debt after a default, Greece's government would undoubtedly start printing drachmas like mad and trigger hyperinflation.

If Greece was willing to pare back its welfare state to much saner levels, they might have a chance to slowly dig their way out of the crisis. Since they refuse to, they're in for a whole lot more economic pain...

Comment The European Welfare State is Unsustainable (Score 0) 396

Since the UK wisely kept its own currency, disruptions from a "Brexit" would be relatively minimal. It's far more likely that will see Greece exit the Euro, because they absolutely refuse to stop spending money they don't have. (Note that despite talk of "austerity," not once since the European debt crisis started has Greek cut government outlays to match receipts.) To Greece (and to a lesser extent the other PIIGS), the welfare state benefits have become more sacred than the capitalist system underwriting them.

The problem with the modern welfare state is that eventually you run out of people to stick with the tab. It both discourages work and generates declining demographics, a dynamic that is unsustainable in the long run.

Well, Greece is starting to reach the long run. They can't afford their own welfare state, but it's become so entrenched that politicians refuse to significately pare it back even on the brink of national bankruptcy.

The UK, like Germany, has a strong enough economy to avoid this fate for quite a while, but it too will get there eventually...