ANOTHER BIG STORM
I have just finished clearing up after the storm that hit Denmark on 28 October. Clearing up means getting rid of all the leaves, chopping up the two trees that fell down, and similar stuff. So it is a bit annoying to find that a second one is currently raging over the country.
Although mooted to be not quite as violent as the earlier one, it will last longer, nearly a full 24 hours. All of the bridges connecting the country's islands are closed, train and ferry services have stopped, and the police have advised everyone to stay indoors. Advice which I am heeding.
Hopefully, all of the trees set to fall down came down a month ago. But it's not until tomorrow that I will find out if that is true or not.
Walter Blotscher
Thursday, 5 December 2013
Wednesday, 4 December 2013
DETROIT (2)
Back in August, Detroit seemed certain to go into bankruptcy. However, not everybody had an interest in seeing that happen. Foremost amongst them were former municipal employees, whose unfunded pension liabilities make up around half of the city's US$18 billion debt. They sued the state-appointed emergency manager in order to prevent his bankruptcy petition from taking place.
That attempt has failed. The judge handling the petition said that bankruptcy, and the protection which it gives the city from its creditors, was a "foregone conclusion" and the only possible way forward. The emergency manager will now put forward a plan to deal with Detroit's 100,000+ creditors. That plan will almost certainly include cuts in those otherwise sacred pension liabilities.
Detroit's bankruptcy is not only interesting in its own right, but will give some clues as to how America will deal with the colossal problem of unfunded (and unaffordable) state and municipal pension commitments, which run into the trillions of dollars. In particular, the idea that those commitments are untouchable will be tested and discarded.
Walter Blotscher
Back in August, Detroit seemed certain to go into bankruptcy. However, not everybody had an interest in seeing that happen. Foremost amongst them were former municipal employees, whose unfunded pension liabilities make up around half of the city's US$18 billion debt. They sued the state-appointed emergency manager in order to prevent his bankruptcy petition from taking place.
That attempt has failed. The judge handling the petition said that bankruptcy, and the protection which it gives the city from its creditors, was a "foregone conclusion" and the only possible way forward. The emergency manager will now put forward a plan to deal with Detroit's 100,000+ creditors. That plan will almost certainly include cuts in those otherwise sacred pension liabilities.
Detroit's bankruptcy is not only interesting in its own right, but will give some clues as to how America will deal with the colossal problem of unfunded (and unaffordable) state and municipal pension commitments, which run into the trillions of dollars. In particular, the idea that those commitments are untouchable will be tested and discarded.
Walter Blotscher
Tuesday, 3 December 2013
PISA TESTS
The Programme for International Student Assessment (or PISA) is a way of comparing educational performance across countries. Marks are given in mathematics, reading and science for pupils aged 15. The programme is run by the OECD, though it also includes countries who are not OECD members.
Given the variety in participant countries' cultures and educational systems, statisticians have long criticised the tests as overly simplistic. Yet since starting in 2000, the three-yearly results have quickly become the yardstick by which countries (and, in particular, their Education Ministers) judge themselves.
Denmark has the world's most expensive state school system, so there were high expectations when the latest 2012 results were announced today. However, the country achieved only middling grades in all three subjects, well behind the front-runners from East Asia (Shanghai, Hong Kong, Singapore, Japan and South Korea) and Finland, and below most of the E.U. countries with whom Denmark likes to compare itself.
Politicians were quick to try and put a gloss on things, saying that Denmark has too many less-able children in its survey. However, that cannot hide the fact that Denmark's results have not improved since 2006, and in mathematics have got worse. It is clear that more money does not necessarily lead to better educated children. The problem is working out what does.
Walter Blotscher
The Programme for International Student Assessment (or PISA) is a way of comparing educational performance across countries. Marks are given in mathematics, reading and science for pupils aged 15. The programme is run by the OECD, though it also includes countries who are not OECD members.
Given the variety in participant countries' cultures and educational systems, statisticians have long criticised the tests as overly simplistic. Yet since starting in 2000, the three-yearly results have quickly become the yardstick by which countries (and, in particular, their Education Ministers) judge themselves.
Denmark has the world's most expensive state school system, so there were high expectations when the latest 2012 results were announced today. However, the country achieved only middling grades in all three subjects, well behind the front-runners from East Asia (Shanghai, Hong Kong, Singapore, Japan and South Korea) and Finland, and below most of the E.U. countries with whom Denmark likes to compare itself.
Politicians were quick to try and put a gloss on things, saying that Denmark has too many less-able children in its survey. However, that cannot hide the fact that Denmark's results have not improved since 2006, and in mathematics have got worse. It is clear that more money does not necessarily lead to better educated children. The problem is working out what does.
Walter Blotscher
Monday, 2 December 2013
A BREAK-IN
There was a break-in at the cinema last night. They came in through the front door, using a crowbar to prise the lock, and took the flat-screen TV that sits in the window and runs trailers and adverts, plus the cash in the till (roughly £200) and all of the sweets on the rack. Not, however, the chips, popcorn or liquorice.
They were in there a long time, going through all the shelves both downstairs and upstairs, plus the area under the seating (which has nothing in it). Fortunately, they weren't interested in the computer or any of the other equipment upstairs, nor did they do any damage to the seats or anything else. They left the way they had come in, by the front door.
Given what they went for, their lack of interest in the equipment and the methodical way in which they searched the premises without vandalising anything, my guess is that it was someone with a drug problem. They need cash to buy drugs, and often need sugar to keep them going until the next fix.
However, that's merely a guess from someone with an interest in finding the culprit. The only thing that's certain is that the police are not interested in finding them. After we had reported it, they turned up three hours late and looked very bored. I don't expect to be summoned as a court witness any time soon.
Walter Blotscher
There was a break-in at the cinema last night. They came in through the front door, using a crowbar to prise the lock, and took the flat-screen TV that sits in the window and runs trailers and adverts, plus the cash in the till (roughly £200) and all of the sweets on the rack. Not, however, the chips, popcorn or liquorice.
They were in there a long time, going through all the shelves both downstairs and upstairs, plus the area under the seating (which has nothing in it). Fortunately, they weren't interested in the computer or any of the other equipment upstairs, nor did they do any damage to the seats or anything else. They left the way they had come in, by the front door.
Given what they went for, their lack of interest in the equipment and the methodical way in which they searched the premises without vandalising anything, my guess is that it was someone with a drug problem. They need cash to buy drugs, and often need sugar to keep them going until the next fix.
However, that's merely a guess from someone with an interest in finding the culprit. The only thing that's certain is that the police are not interested in finding them. After we had reported it, they turned up three hours late and looked very bored. I don't expect to be summoned as a court witness any time soon.
Walter Blotscher
Saturday, 30 November 2013
MY MOTHER-IN-LAW (2)
My mother-in-law turned 80 today, so congratulations to her.
Being 80, deciding how to celebrate the day became a complicated affair. There is a party in two weeks' time for her immediate family (20+), plus siblings (being one of 11, there are many of them); and close friends and neighbours were invited to brunch this morning. But what to do on the day itself if you are a member of the immediate family but not a friend or neighbour (i.e. like me)? The answer was one of those curious Danish social customs which I am learning to navigate after 25 years of experience. Although not officially invited to anything, we were supposed to turn up unannounced for afternoon coffee at the rather precise time of 15.00. Don't ask me how I was supposed to know this, I just was.
Such customs are in fact more widespread than you might imagine, particularly in rural areas. It reminded me a bit of the golden wedding I went to some years ago (of my wife's aunt and uncle). People turned up early in the morning to sing for them as a surprise. We were then invited to eat and drink something in a house which was miraculously decked out for 30+ guests at 8.00 am.
As a foreigner, this can be confusing. However, as I say, I have had 25 years of getting used to it. So I was at my mother-in-law's - quite by chance, of course - at 15.00 sharp, and thoroughly enjoyed the coffee, buns and cake that just happened to be there.
Walter Blotscher
My mother-in-law turned 80 today, so congratulations to her.
Being 80, deciding how to celebrate the day became a complicated affair. There is a party in two weeks' time for her immediate family (20+), plus siblings (being one of 11, there are many of them); and close friends and neighbours were invited to brunch this morning. But what to do on the day itself if you are a member of the immediate family but not a friend or neighbour (i.e. like me)? The answer was one of those curious Danish social customs which I am learning to navigate after 25 years of experience. Although not officially invited to anything, we were supposed to turn up unannounced for afternoon coffee at the rather precise time of 15.00. Don't ask me how I was supposed to know this, I just was.
Such customs are in fact more widespread than you might imagine, particularly in rural areas. It reminded me a bit of the golden wedding I went to some years ago (of my wife's aunt and uncle). People turned up early in the morning to sing for them as a surprise. We were then invited to eat and drink something in a house which was miraculously decked out for 30+ guests at 8.00 am.
As a foreigner, this can be confusing. However, as I say, I have had 25 years of getting used to it. So I was at my mother-in-law's - quite by chance, of course - at 15.00 sharp, and thoroughly enjoyed the coffee, buns and cake that just happened to be there.
Walter Blotscher
Friday, 29 November 2013
MORTGAGE INTEREST RATES (3)
Back in April I was gobsmacked at how low mortgage interest rates could go. Today I am even more gobsmacked.
The rate on the so-called F1 loan (a variable rate mortgage in which the rate is set once a year) has fallen to 0.11% for 2014 at Nordea Kredit and 0.15% at NyKredit/Total Kredit. That means that with charges you can borrow kr.1 million and only have to pay around kr.500 a month after tax.
This is starting to get ridiculous.
Walter Blotscher
Back in April I was gobsmacked at how low mortgage interest rates could go. Today I am even more gobsmacked.
The rate on the so-called F1 loan (a variable rate mortgage in which the rate is set once a year) has fallen to 0.11% for 2014 at Nordea Kredit and 0.15% at NyKredit/Total Kredit. That means that with charges you can borrow kr.1 million and only have to pay around kr.500 a month after tax.
This is starting to get ridiculous.
Walter Blotscher
Thursday, 28 November 2013
MINCE PIES
The school where I work has a Christmas market each year. The pupils make various things, and the proceeds go to charity. Being English I thought that I should contribute with something English. What represents an English Christmas better than mince pies?
Before we could make them, I had to overcome a cultural misunderstanding. I told the head of the kitchen that I would be using mincemeat (sent from the U.K., since it is not available here), which made her all nervous. Apparently there are lots of Danish health and safety rules in a school when you are dealing with meat, and she didn't realise that mincemeat has nothing to do with meat!
Sorting that out took a while, and then this evening we were ready to go. A team of seven put together 45 mince pies which will be sold on Sunday. Two were slightly broken, so we divided them up between us. Not as good as my mum's, but still pretty good for a first ever attempt.
Walter Blotscher
The school where I work has a Christmas market each year. The pupils make various things, and the proceeds go to charity. Being English I thought that I should contribute with something English. What represents an English Christmas better than mince pies?
Before we could make them, I had to overcome a cultural misunderstanding. I told the head of the kitchen that I would be using mincemeat (sent from the U.K., since it is not available here), which made her all nervous. Apparently there are lots of Danish health and safety rules in a school when you are dealing with meat, and she didn't realise that mincemeat has nothing to do with meat!
Sorting that out took a while, and then this evening we were ready to go. A team of seven put together 45 mince pies which will be sold on Sunday. Two were slightly broken, so we divided them up between us. Not as good as my mum's, but still pretty good for a first ever attempt.
Walter Blotscher
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