CONNECTIONS bt Jim Redwine

first_img Gavel Gamut By Jim Redwinewww.jamesmredwine.comCONNECTIONSFather George Rapp of Pennsylvania and Robert Owen of New Lanark, Scotland each hoped their visions for Mankind would manifest in New Harmony, Indiana. Rapp’s vision involving Christ’s Second Coming and Owen’s involving a world without any traditional religions look different but have similar dreams at their base. A world without private property ownership was one of the major goals for both.I will leave an analysis of Rapp’s grand plans to the theologians. As to Owen’s, I defer to the philosophers but will refer to Robert Owen, A View of Society and Other Writings edited by Gregory Glaeys who is a Professor of History at Royal University of London and a recognized authority on Robert Owen.According to Glaeys, Robert Owen (1771-1858) was one of the greatest British social reformers and was a pioneer in schemes for humane factory management, the eight-hour workday and the education of the poor. Owen even now remains respected as a pioneer socialist, feminist and advocate of an ecological approach to industry and urban life.One of the most interesting ironies of the connections between the philosophies of Rapp and Owen and New Lanark and New Harmony is that the clergy was one of Owen’s fiercest opponents. Yet elements of Rapp’s Christian thought and Owen’s abhorrence of Christianity and all other organized religions intertwine, especially their mutual calls for a new world order and disdain for economic competition and individualism. Perhaps that was why and how Owen and Rapp knew of one another and what led to Owen in New Lanark, Scotland buying Rapp’s town of New Harmony, Indiana.Glaeys describes that transaction as follows:“In 1825 he (Owen) purchased a ready-made community set on 20,000 acres in southern Indiana from a pietistic German sect, the Rappites. At New Harmony he spent about 40,000 pounds (about $240,000) or four fifths of his New Lanark fortune in a fruitless effort to organize a disparate group of about 800 radicals, freethinkers, backwoodsmen and scientists.”p. xviUnfortunately, too many of the 800 thought Owen’s utopian concept simply meant they could do nothing and Owen would support them. These ingrates had ample reason for this attitude based on Owen’s own creed as set forth in his Manifesto:“Individual and national competition and contest are the best modes (under the then existing circumstances) by which wealth can be created and distributed.….But it is obtained by creating and calling into full action, the most inferior feelings, the meanest faculties, the worst passions, and the most injurious vices which can be cultivated in human nature.”p. 358Owen sought a system of production and distribution that called for “…[T]he least labour to all members of a society, and especially with the least amount of unhealthy and disagreeable employment.”Well, Gentle Reader, you can probably see how such an experiment might turn out. You are right. In about two years Owen’s heaven on earth was more akin to Purgatory. And Owen’s insistence on a strict compliance to his principles on his terms did not engender enthusiastic compliance. Or as the ancient Greeks might have observed, hubris is a mortal flaw.There is so much more to Robert Owen and the symbiotic relationship between New Lanark, Scotland and New Harmony, Indiana than can be crammed within a few newspaper columns. However if you care to hang around awhile I plan to cram some stuff into my next few epistles.But before the following weeks’ offerings, I must address last week’s column thanks to our friend and Robert Owen authority, Linda Warrum from New Harmony. Linda read last week’s column and offered some advice. First, Linda, thanks for reading Gavel Gamut; you have doubled my audience. Secondly, thanks for pointing out not all of Robert Owen’s children were given the middle name of Dale and Father Rapp’s group were not German Lutherans but Pietists who, “…[E]mphasized personal piety over religious formality and the orthodoxy of the Lutheran Church.” It was nice of Linda to both read Gavel Gamut and respond.For more Gavel Gamut articles go FacebookTwitterCopy LinkEmailSharelast_img read more

Pension funds hail new Danish 30-year bond as yield-curve definer

first_imgChristian Lindstrøm Lage at PFABut like Lindstrøm Lage, he said this issuance was a good idea, so that the Danish government yield curve was well defined at the 30-year mark.Even though the central bank said future annual issuance volume in the 30-year segment was expected to be of the same order of magnitude as in 2020, Mielke said continued issuance of the bond in the next few years was not important to PensionDanmark.“The most important thing is that the few very long government bonds that are there are of a suitable size and are liquid,” he said.Lars Peter Lilleøre, head of fixed income at Sampension, said that apart from providing a benchmark to the long end of the German to Danish bond swap market and to the Danish mortgage bond market, the new bond also gave some much needed positive convexity in the Danish fixed income market.“We will have potential interest in the bond on both a stand-alone basis and as a possible extension from our DGB 2039 positions,” he said.Building up the bond gradually to ensure sufficient liquidity was critical though, he noted.“We would hope and recommend for it to be tapped regularly on the bi-weekly auctions after its initial introduction,” said Lilleøre. Meanwhile, Poul Kobberup, Danica Pension’s investment director, told IPE: “We think this is a positive move from the central bank, and these bonds will give us a curve to trade on. We are a long-term investor so we are more interested in the long end.”Kobberup also said the issue would help liquidity at this end of the sovereign debt market.Asked to predict what the bonds are likely to yield, he said it was market dependent but likely to be between a quarter and half a percentage point.At statutory pension fund ATP – which at the end of September had DKK810bn of guaranteed pensions to cover – Jan Ritter, head of hedging and treasury, said: “ATP views the central bank’s decision to begin issuance of a new 30-year government bond in 2020 positively, and it will suit ATP’s need for long Danish hedging assets well.” Denmark’s pension funds have welcomed the Danish central bank plan to issue 30-year bonds for the first time in over 10 years, anticipating the crucial role the bond will play in defining the long end of the yield curve.Though the Danish government has scant need for borrowing, in its debt issuance plans for 2020 Danmarks Nationalbank said it will open a new 30-year nominal bond maturing in 2052 in the first half, and aims to issue between DKK5bn (€669m) and DKK10bn in the bond via auctions and tap sales.Unusually these days for Danish government debt, the bond is likely to have a positive yield, as the current Danish government bond yield curve turns positive around the 14-year point.Christian Lindstrøm Lage, chief executive officer of PFA Asset Management – an arm of PFA Pension – told IPE that while PFA would be interested in the bond issue as an investor, its main importance was more from a regulatory point of view. “This bond is arguably a very important product for the pensions industry both as an anchor and a starting point for Danish asset pricing, because once it’s out there, we will then have government bonds that mark the back end of the yield curve,” he said.The pension sector in Denmark is not too reliant on the Danish curve, he added, since it uses the euro curve to measure its liabilities. However, he said market pricing of the new long bonds would provide much-needed evidence of confidence in the Danish central bank’s continued commitment to the krone-euro peg.“We trust that the central bank can keep the interest-rate differential at some fair level, but there’s no way to answer that if you don’t have current issuance at the back end of the curve,” said Lindstrøm Lage.PensionDenmark, which runs a market-rate pension product for its mainly blue-collar members, has only limited interest in the 30-year government bond currently, according to Steffen Mielke, the pension fund’s head of fixed income.“The low interest rates mean that our allocation to long Danish government bonds is at a minimum,” he told IPE.last_img read more


first_img Share Tweet 62 Views   no discussions Share HealthLifestyle Hemorrhoids by: – February 24, 2011center_img Sharing is caring! Share DefinitionHemorrhoids are painful, swollen veins in the lower portion of the rectum or anus.Alternative NamesRectal lump; Piles; Lump in the rectumCauses, incidence, and risk factorsThis condition is very common, especially during pregnancy and after childbirth. Hemorrhoids result from increased pressure in the veins of the anus. The pressure causes the veins to bulge and expand, making them painful, particularly when you are sitting.The most common cause is straining during bowel movements. Hemorrhoids may result from constipation, sitting for long periods of time, and anal infections. In some cases they may be caused by other diseases, such as liver cirrhosis.Internal hemorrhoids occur just inside the anus, at the beginning of the rectum. External hemorrhoids occur at the anal opening and may hang outside the anus.SymptomsSymptoms of hemorrhoids include:Anal itchingAnal ache or pain, especially while sittingBright red blood on toilet tissue, stool, or in the toilet bowlPain during bowel movementsOne or more hard tender lumps near the anusSigns and testsA doctor can often diagnose hemorrhoids simply by examining the rectal area. If necessary, tests that may help diagnose the problem include:Stool guaiac (shows the presence of blood)SigmoidoscopyAnoscopyTreatmentOver-the-counter corticosteroid creams can reduce pain and swelling. Hemorrhoid creams with lidocaine can reduce pain. Witch hazel (applied with cotton swabs) can reduce itching. Other steps for anal itching include:Wear cotton undergarments.Avoid toilet tissue with perfumes or colors.Try not to scratch the area.Sitz baths can help you to feel better. Sit in warm water for 10 to 15 minutes. Stool softeners help reduce straining and constipation.For cases that don’t respond to home treatments, a surgeon or gastroenterologist can apply heat treatment, called infrared coagulation, to shrink internal hemorrhoids. This may help avoid surgery. Surgery that may be done to treat hemorrhoids includes rubber band ligation or surgical hemorrhoidectomy. These procedures are generally used for patients with severe pain or bleeding who have not responded to other therapy.Expectations (prognosis)Most treatments are effective, but to prevent the hemorrhoids from coming back, you will need to maintain a high-fiber diet and drink plenty of fluids.ComplicationsThe blood in the enlarged veins may form clots, and the tissue surrounding the hemorrhoids can die. Hemorrhoids with clots generally require surgical removal.Severe bleeding may also occur. Iron deficiency anemia can result from prolonged loss of blood. Significant bleeding from hemorrhoids is unusual, however.Calling your health care providerCall for an appointment with your health care provider if hemorrhoid symptoms do not improve with home treatment. You should also be seen if you have rectal bleeding. Your provider may want to check for other, more serious causes of the bleeding, especially if you have never bled from hemorrhoids before.Call 911 if blood loss is significant or if you feel dizzy, lightheaded, or faint.PreventionAvoid straining during bowel movements. You can help prevent hemorrhoids by preventing constipation. Drink plenty of fluids, at least eight glasses per day. Eat a high-fiber diet of fruits, vegetables, whole grains. Consider fiber supplements.last_img read more

Strong boxing team named for Caribbean Championships

first_img-Ninvalle says participation depends on fundingTHE GUYANA Boxing Association (GBA) has named its largest boxing team, in decades, to the Caribbean Championships, but president of the local body, Steve Ninvalle said that participation this year would depend heavily on government support.Guyana has been a dominant force in the regional competition and is hoping to travel with some 21 boxers and four officials for the December 4-9 regional meet in Trinidad.According to Ninvalle, approximately $5M is needed to carry the entire team.To this end, the GBA president is hoping for some assistance from the government.In 2016, Ninvalle and his team of executive members embarked on a 100-mile walk to raise funds for the national team, which took part in the Caribbean Development Tournament in Barbados.Light heavyweight champion, Dennis Thomas (left) and Markember Pierre were also selected.At that tournament, the boxers won 10 gold, 1 silver and the Caribbean title.The boxing association is hoping to make the needed funds this time around, because this year it is imperative to send a large team, since a few Spanish-speaking countries have been invited to the championship, including powerhouse Cuba, which has produced several World and Olympic champions.Venezuela, Puerto Rico and The Dominican Republic are also expected to field boxers for the event.Amongst the 21 boxers, several of them are former and current regional champions.Caribbean Lightweight champion Keevin “Lightning” Allicock will spearhead the side, which also includes Caribbean Middleweight champion “Dynamic” Desmond Amsterdam, former Lightweight Champion Colin “Superman” Lewis and former Middleweight silver medallist, Dennis Thomas.Ninvalle, however, pointed out that their participation would depend on their availability.The other boxers selected are: Youths: Mark Crawford (Lightweight–60 Kg), Richard Howard (Bantamweight–56 Kg), Abiola Jackman (Welterweight—69 Kg), Alex Butcher (Junior Welterweight–63 Kg), Emanuel Pompey (Middleweight—-75 Kg), Patrick Harvey (Lightweight–60 Kg Junior), Kevon Mullin (Welterweight—69 Kg) and Alesha Jackman.In the Elite Junior Flyweight (49 Kg), Quacy Abrams (National champion) and Richard Subratee (Runner-Up) were selected.In the Flyweight (52 Kg), Seon Griffith is the lone boxer. In the Bantamweight (56 Kg), champion Julius Kesney and runner-up Asheer Al Azeem were selected, while Teusimar Peters will join Allicock in the featherweight 57kg category.Best boxer Elite at the recently concluded National Open, Clairmont Gibson in the Lightweight–60kg, runner-up Delroy Fordyce and Shemar Halley (standby) were selected; so too were Lewis and Dewani Lampkin in the Lightweight 63kg division.In the Junior Welterweight (64kg) division, Orlando Grenville was selected, while Kevin McKenzie (champion) and runner-up Cranston McAllister would join Amsterdam in the welterweight 69Kg.Meanwhile, Aluko Bess (runner-up in the Middleweight), is also set to travel. Light heavyweight champion Thomas and runners-up Markember Pierre will join him.Daren France and Omar Sukhdeo (first and second in the 91kg heavyweight) as well as super-heavyweight boxers Kevin Hunte (champion) and Anthonio Williams (runner-up), were also selected with Steven Chan as standby.last_img read more