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Jerome Tang Coaches Kansas State Basketball / Gottlieb getting a ticket on air
« on: March 01, 2011, 12:36:45 PM »Cop talking about OSU, recognizes gottlieb
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Cole_Manbeck
Looks like we may have a flash mob dancing scene here tonight like the ku/ok state game in allen fieldhouse earlier this year
Cole_Manbeck
We are definitely going to have a flash mob dance to the black eyed peas. Watching them practice in the stands. And wow they are awful
Austerity, Oil Prices Helping Put the 'Stag' in 'Stagflation'
If you listen closely enough, you can hear the stagflation storm brewing across the economy. It's the sound of rising prices and weak economic growth conspiring to create the Federal Reserve's worst enemy.
Friday's lame GDP print exemplified where we're heading, with the economy gaining just 2.8 percent in the fourth quarter of 2010 no matter how much government economists tried to talk up the robust corporate balance sheet and supposed gains in employment.
The report unveiled the next ingredient in the stagflation cocktail-namely, austerity at the state and local government level.
Combined with rising energy and food costs and unemployment that will suffer all the more as local governments will be forced to cut labor, government belt-tightening will ensure weak growth for many quarters ahead.
Real state and local government consumption expenditures and gross investment fell 2.4 percent in the quarter, reflecting the need for belt-tightening amid a huge debt and deficit mess.
At the same time, the economy will have to deal with a new normal in oil prices, with the former range of $80 to $90 now likely to be replaced by something north of $95 and perhaps well into the hundreds.
T. Boone Pickens told CNBC on Friday that he expects oil to hit $120, a daunting prospect for an economy hoping to keep inflation out of the way long enough for employment and housing to catch up to the rest of the economic data points.
Analysts say $100 a barrel oil takes 1 percentage point off GDP, while $120 would subtract 2 percentage points (this was reported on TV earlier by my colleague Bob Pisani who cited Gluskin Sheff economist David Rosenberg). With consensus running only to a bit above 3 percent growth for this year, the damage that Middle Eastern turmoil could do to the US economy is profound.
Of course, economists would be quick to point out that higher gas prices don't equate necessarily to a surge in inflation. But even those time-honored arguments will get tested.
In a separate broadcast appearance, Richmond Fed President Jeffrey Lacker addressed the importance of inflation perception and how a belief that $4 gasoline and $4 lettuce can convince consumers that inflation is here, economic models be damned.
"The real danger is inflation psychology," he said, later importantly adding, "We have got to get the timing just right on this thing."
The emergence of stagflation trends is critical for the Fed in that it means the central bank is failing on both ends of its dual mandate-ensuring stable pricing and employment.
Chairman Ben Bernanke has been a focal point of criticism during the Middle Eastern violence, with detractors saying it is the Fed's easy-money policies that have driven up the price of dollar-denominated commodities and consequently global food costs. The Wall Street Journal in an editorial Thursday cited the "Bernanke premium" on food and energy, and that was one of the kinder catcalls.
"The fact that the Fed's massive money printing effort is the progenitor of global food riots completely escapes (Bernanke)," Michael Pento, senior economist at Euro Pacific Capital, said in a blog post. "As more damage is done, the Fed will use the resulting contraction in GDP to justify a third round of quantitative easing-further harming the GDP.
"Unfortunately, the viscous cycle of stagflation will grow more acute with each iteration of the Fed's love affair with counterfeiting. Countries that make the mistake of continuing to peg their currencies to the US dollar will suffer more inflation and more destabilization. Since it will be hardest for the US to ditch the dollar, our hopes are dimmer."
With the clock ticking on the second leg of quantitative easing purchases, figuring out the right way to step away will be pivotal to avoid the full stagflation fury.
Pitino, a married father of five, testified during trial that he had sex with Sypher -- who then was known as Karen Wise -- in the empty restaurant after she whispered to him and then unzipped his pants. Pitino said the sex lasted "15 seconds" and was "unfortunate."
@Cole_Manbeck
KU coaching staff going after officials into the locker room
Cal eliminates baseball, men's gymnastics
UC Berkeley announced Friday morning that its men's baseball and gymastics programs will be eliminated at the end of this school year, but that men's rugby and women's gymnastics and lacrosse have been spared.
"New philanthropic commitments will support the teams' expenses while plans are implemented for long-term financial self-sufficiency," the university said in a news release.
The release said the changes will keep Cal athletics on track to operate under a cap of no more than $5 annually from the general campus fund by 2014.
"We are all greatly impressed by how our community organized itself in the attempt to help these five sports and the university," Vice Chancellor Frank Yeary said in the statement. "We are delighted that, together, we have found a path that allows us to retain the two women's teams and our rugby program without adding costs to the strained budgets of the university and Cal Athletics.
"Sadly, the efforts did not meet these criteria insofar as baseball and men's gymnastics are concerned," he said. "Although the amount of money raised for these two programs is meaningful, the teams' costs are also significant.
"Both programs would have needed to raise multiples of what they actually did raise to meet our criteria. In the context of both current and forecasted economic and financial conditions, we simply could not agree to short-term, stopgap measures."
The university announced Sept. 28 that five sports would be eliminated after this school year to save the athletic department $4 million annually.
Supporters of the programs reacted swiftly, locking arms to create "Save Cal Sports." That prompted Birgeneau to announce that if they raised $25 million by the end of January the sports would at least temporarily be saved. The chancellor's plan called for the sports to then generate funding to become permanently self-sufficient within seven to 10 years through endowments.
Donors raised between $12 million and $13 million, the university confirmed, a portion of it from "Save Cal Sports." Another significant chunk came from a low-profile group that had no affiliation to any specific sport.
Cal has fielded a baseball team since 1892 and won national championships in 1947 and 1957. The Bears open their 2011 season Feb. 18 at home against Utah.
One source told the Bay Area News Group that the property where Evans Diamond sits is coveted by the university for non-athletic uses.
Among 24 NCAA Division I level athletic programs in the state, Cal becomes only one without a baseball team.
Men's gymnastics, which began competition at Cal in 1922, won four NCAA team titles between 1968 and 1998 and has had top-10 finishes in 13 of the past 14 seasons. But men's gymnastics slowly has been squeezed from the athletics agenda on the West Coast, with Stanford the only other Pac-10 school to field a team.
Rugby is the school's most successful sports program, having won 25 national championships since 1980, including the 2010 title last spring. Rugby is a non-scholarship varsity sport at Berkeley, largely supported through private funding, but it was scheduled to be demoted to club status.
Cal's rugby squad was 11-0 entering play Friday, having outscored its foes 576-28.
The women's gymnastics and lacrosse programs, much younger than their male counterparts, may have survived because Cal would have been in violation of Title IX federal gender-equity laws had they been cut.
Rebounding is a PRODUCTION stat, not an EFFICIENCY stat. I can't help it if Pomeroy or others don’t understand this point.