That's frightening. Dried into jerky sounds lucky; I'd expect to find a tiny little civilization of fungus-people living there. Maybe I'm just more germophobic.
if I tried that here there would be the stench of a mouldering corpse to remind me I had fucked that up. and not later, but the end of the next day.
That's nasty, heebie. Truly, I hope Jammies, at least, checks the oven regularly.
When I was a kid and we had a bunch of people over for Thanksgiving, my siblings and myself were clearing the table. I pushed the intact carcass down the garbage disposal, which worked far better than my mom thought it would work.
It's humid here, but not Narnia levels. But the saving grace is that the oven had a pilot light which kept it faintly warm and dry.
Truly, I hope Jammies, at least, checks the oven regularly.
Oh, now we're all grown up. Ie, we regularly make frozen pizza.
I pushed the intact carcass down the garbage disposal, which worked far better than my mom thought it would work.
But not as well as making stock.
Garbage stock.
We'll take it!
4: Stanley, I really do find your reliability in this area strangely comforting. Don't listen to these mean people. Also, if you care to develop a mean streak, I see an editorial future for you at the NY P/ost.
It is funny when you generally adhere to US norms of sanitation and food safety, finding out what happens when you don't and that it's not always all that dramatically disgusting. </Emerson>.
14: That's what I was saying just the other day, but my wife still says we're not getting a composting toilet.
I would totally want one if we didn't live in an apartment. I love compost -- I'm endlessly delighted by the fact that nasty rotting garbage turns into beautiful sweet-smelling dirt. Nature works!
This is why I always baste with natron.
This is why I'm always chaste with a matron.
That's why I like a matron with a chest.
That's why I pay the waitron with a check.
That's why I never eat seitan with a Czech.
That's why I'm never late to watch Glenn Beck.
All I can think to contribute to this is the best-worst musical number ever, turkey-themed.
All is disquiet on the invisible box front.
32: Yeah, and you wouldn't believe where he left the carcass.
22: You should rethink that. I'm Czech and I make a mean zucchini and seitan panini.
37: And, after you eat it, you're wont to pronounce, "The meal is in the Czech!" amirite?
I pushed the intact carcass down the garbage disposal, which worked far better than my mom thought it would work.
I make a mean zucchini and seitan panini.
Don't be so modest.
40: I make the best zucchini and seitan panini in the world!
Now that's boasting with great élan.
Eggplant: always willing to throw zucchini under the bus sandwich press.
A funeral director has described Redditch Borough Council's plan to use crematorium furnaces to heat a municipal swimming pool as "a bit strange and eerie". The article goes on to describe some other proposals for making use of the waste heat from cremation.
OT: Does this Krugman post make sense to anybody? How can a below market rate loan not be a subsidy?
It is funny when you generally adhere to US norms of sanitation and food safety, finding out what happens when you don't and that it's not always all that dramatically disgusting. .
Pretty much nothing is that dramatically disgusting compared to being eaten by a bear, or so I hear.
48: Sometimes Bob is right. Best not to think about it too much.
I assume I'm not understanding something (rather than Krugman being wrong or evil), but doesn't his argument rely on the assumptions that the transactions available to banks have the same expected value as the long-term rate (so the banks don't unfairly profit), and that they will plow any borrowed money back into the fed (so the fed gets its money back)?
48: I can follow it, but not, if you see what I mean, check it from my own knowledge. What I believe he's saying is that Treasuries aren't below market rate. They're at market rate for long term loans, and the market rate for long term loans is below the rate for short term loans, and there's nothing inconsistent about those two rates differing.
There is nothing inconsistent about those two rates differing, but his main point (the banks aren't being subsidized) is absurd. They get interest on reserves, unofficial guarantees, official guarantees, and Fannie Mae not pushing their lies back on them. People like Krugman imagined at a world where one more big bank went under and got so scared they couldn't see any alternative to sending as much money as possible to the banks.
I am yet again going to reveal my financial ignorance, but doesn't the fed have some influence on the short term rate, and aren't they using that influence to lower it? I thought that was part of their stimulus strategy.
The Fed sets the short term rate and they are lowering it as part of deliberate policy for the stimulus. Yes. But that doesn't necessarily mean a subsidy for the banks.
55: Why not? The banks normally profit from their interactions with the fed, so if the fed lowers the cost of those interactions doesn't their profit rise? Or is the market efficient enough that these profits get dispersed?
the market rate for long term loans is below the rate for short term loans
No, the opposite.
The point is that short-term rates are generally low now, so the claim that banks are borrowing at below-market rates doesn't really hold (e.g., 30-day LIBOR is 26 basis points and 30-day commercial paper 19 bps). That's not to say that the banks didn't and don't benefit from a lot of explicit and implicit subsidies. Also, People like Krugman imagined at a world where one more big bank went under and got so scared they couldn't see any alternative to sending as much money as possible to the banks is way off base.
Or is the market efficient enough that these profits get dispersed?
Normally it is. Or is supposed to be. But, normally, banks aren't supposed to be buying too many treasuries and I doubt many are now. I think he deliberately choose to rebut a weak case against the bank subsidy because he doesn't want to give comfort to people outside the big tent 'o economic consensus.
his main point (the banks aren't being subsidized) is absurd
I don't think that was his point. His point was that a low discount rate (the rate at which banks borrow reserves from the fed) isn't itself a subsidy to the banks.
58: How about "As much money as was needed to insulate them from the consequences of their own mistakes."
the claim that banks are borrowing at below-market rates doesn't really hold
Banks always borrow at below-market interest rates, if by "market interest rates" you mean the rate at which banks are willing to make loans. That's fundamentally how banks make money. Sometimes they're borrowing from depositors, and sometimes they're borrowing from the fed, but they're always borrowing money at a lower interest rate than they're turning around and lending it for.
58: So it could be, but isn't, a subsidy.
62: That's not at all what I mean by "market interest rates". I mean, those are the market rates for those loans made by the banks, but different borrowings with different structures and terms (including the borrowings by which they finance their lending activities) have different market rates. Your home mortgage isn't a below-market loan just because you pay a lower rate than on your credit card.
58, 61: Krugman could see an alternative, though, and did in fact argue that a Swedish-style nationalization was the appropriate response.
65.last: I didn't know that, or had forgotten it.
but different borrowings with different structures and terms (including the borrowings by which they finance their lending activities) have different market rates
I wasn't criticising you, I was agreeing with you that "the claim that banks are borrowing at below-market rates doesn't really hold", but agreeing from a different angle: I'm saying is that, other than the discount rate (and to a lesser extent the rates that are paid on checking/savings accounts), it doesn't make any sense to talk about a market-rates for bank borrowings. (This is ignoring overnight rates and things like that, all of which are keyed off of the discout rate.) So it doesn't ever make sense to talk about the discount rate being a potentially "below market" interest rate; it is the base market interest rate.
Dried into jerky sounds lucky; I'd expect to find a tiny little civilization of fungus-people living there.
Turkey jerky vs. turkey cheese. Who doesn't like a nice mature cheese?
I have to say I find the story in the OP kinda implausible. Really, you can leave a turkey with meat and skin on it in the oven for almost a full year and it doesn't smell or attract bugs? I live in a really dry climate and I don't think that would happen. Wouldn't there be at least a faint odor of death from somewhere?
Oh, I believe it. Things need to be pretty wet to get stinky rotten -- I'd expect cooked meat to dry out to leather before it smelled all that bad. (I wouldn't be surprised if there had been a moldy stage that ended when it dried out too much, but that wouldn't smell all that bad either.)
Conducting additional experiments is the only way to determine whether or not Heebie's purported "result" is repeatable and verifiable.
LB, I nomiate your kitchen.
I actually use my oven. (Admittedly, I set off the smoke alarm often enough that my children start salivating like Pavlov's dogs when it goes off, but I do use the oven.)
According to the OP this was a repeated experiment.
67
...doesn't make any sense to talk about a market-rates for bank borrowings ...
I don't think this is correct. If bank A is offering 1% and bank B is offering 2% people tend to move money from A to B. So banks generally have to offer competitive rates on deposits. Just as they have to offer competitive rates on loans. So you have a market rate in both cases. Of course the deposit rate is generally less than the loan rate.
For experiments that *do* result in things smelling really, really bad in the kitchen, allow me to suggest forgetting about a bag full of potatoes for a year or so. Blech.
74: James, I would direct your attention to the parenthetical in 67 immediately preceding the language you've quoted.
Really, you can leave a turkey with meat and skin on it in the oven for almost a full year and it doesn't smell or attract bugs?
Also, it was a gas oven with a pilot light that ran warm. The oven was generally slightly warm to the touch.
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A law firm is claiming that the fast food chain is using false advertising when it says its Mexican delicacies are filled with "ground beef" or "seasoned ground beef." In fact, the lawsuit claims, the "taco meat filling" used by Taco Bell contains is only about 35% beef, with binders, extenders, preservatives, additives and other agents making up the other 65%.
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In my high school days working at the local mall food court, the rumor was that Taco Bell's meat arrived dehydrated in 50-lb. bags and was reconstituted on-location by way of a boiling pot of water. I didn't find this to be particularly atrocious (and had already switched to Team Veg anyway), but pretty much none of the food court employees would eat Taco Bell as a result. Including the Taco Bell people.
Your mom can get busy with 22 burritos, when times are rough. I saw her in the back of Taco Bell with handcuffs.
76
According to the Federal Reserve .
The discount rate charged for primary credit (the primary credit rate) is set above the usual level of short-term market interest rates.