The good news? The fact that we are still posting here and free to exchange whatever silly little notions we have in our heads to get slapped down by the wiser and more experienced...
good news wanted? I am seeing several reports issued today by GS and MS expecting a good tech earnings season this week,, most should beat estimates, although expect conservative guidance.
Scrooge McDuck (profile) wrote on Sun, 7/12/2009 - 9:59 pm
"Americans are paying about $1.55 less per gallon than they were on July 11, 2008, when the price-per-gallon of gas touched a high of $4.11."
Ahhahaa.....oh. That wasn't the punchline. I see.
The joke is on all the peakenese who used last summer as a soapbox.
Forwarded from the next thread: josap said:
For the same reason I take care of my mom who is 77. For the same reason your parents raised you with the best they could offer.
When you are old enough you will figure it out.
I'm not talking about individual cases here; we are talking about national shotgun bailouts that don't discriminate between the 70-year old mom or whoever. I'm sure because of the housing bust/bubble, there are folks who aren't able to care for their 77 year old parents, because their money has been fleeced away to the banks. And then soon we will have to bailout social security and medicare and the country will "pretend" to help the older generation, taking our tax money to do it, but the tax money won't be enough so we'll still be trying to save them.
There are 70 year old parents who have no one able to take care of them because of this wrecktcd economy...
July 13 (Bloomberg) -- Bank of America Corp. is trying to avoid paying billions of dollars in fees to U.S. taxpayers for guarantees against losses at Merrill Lynch & Co., saying the rescue agreement was never signed and the funding never used. Regulators contend Bank of America owes at least part of a $4 billion fee it agreed to pay in January -- even without a completed legal document -- because the company benefited from implied U.S. backing on about $118 billion of Merrill Lynch assets, such as mortgage-backed bonds, people familiar with the matter said. The Charlotte, North Carolina-based bank says it owes the Treasury nothing, according to the people, who declined to be identified because the negotiations are confidential.
$20.00 per tank, life is ok.
$30.00 per tank, life is getting costly.
$40.00 per tank, life is hard.
$50.00 per tank, life is not possible as we know it.
I live in the East Bay of SF region and recently noticed a change in gasoline pricing. For a very long time, the difference in price between the lowest and middle grade was always 10 cents. For the last month or so, the difference between these two grades has run 15-20 cents at most stations.
Is anybody seeing this elsewhere? When "average" prices based on surveys are published would a such a change be reported?
TROY, Mich. -- The sputtering Michigan economy is dragging down the state's once-strong health-care system, offering a preview of how a lingering recession could corrode Americans' hospitals, savings and health. When software engineer Bruce Markel arrived in Michigan in 1990, he had a failing kidney. Though the government pays for kidney transplants, the insurance plan offered at the time by Mr. Markel's employer, Electronic Data Systems Corp. -- the big consulting firm then owned by General Motors Corp. -- covered nearly all the costs before and after his transplant. Mr. Markel says his coverage was so good that he turned down federal benefits for his postoperative care.
There are 70 year old parents who have no one able to take care of them because of this wrecktcd economy...
There always are. My father died a few years ago at age 84 and even though his cohorts were supposedly 'great savers' he said most still died broke and with limited 'support'. It is the fate of the majority of the human race past present and future.
I will be one of those 70 yr old parents. So on top of taking care of mom, helping my son and his family, a bit of help for my brother and manging to care for myself - things get a bit tight.
Once mom is gone I really need to make sure I can take care of me for the rest of my life. There will be no fall back position for me in my old age. Makes life interesting.
"life is not possible as we know it" and "It is the fate of the majority of the human race past present and future."
Bingo, bango, bongo: the time has come to kick our standard of living in the teeth. What's half-way between Orange County 2005 and Nicaragua 2009? Probably happiness.
I, for one, will love the non-stop family reunion.
Plunging stock values are prompting many older workers to delay retirement, creating surprising benefits for some employers but nagging concerns for others. In a recent survey of more than 2,200 U.S. workers by consulting firm Watson Wyatt Worldwide, 44% of respondents age 50 or older said they plan to postpone retirement; half of those say they plan to work at least three years longer than previously expected. That has added pressure on companies struggling to reduce payroll as profit dwindles. It also threatens to clog the pipeline for companies that want to bring in new blood.
What's wrong with dying broke? Can't take it with ya. Unless you reincarnate. into the same family.
Nothing IF you can time it right. Fact is most can't and the skew is toward the side of running out of money LONG before you run out of years. That is when you burden the next generation [either direct family or 'society' as a whole].
"During this difficult economic time, we're proud to be able to create quality jobs for thousands of Americans this year," Eduardo Castro-Wright, vice chairman of Wal-Mart U.S., said in a statement"
Quality!?! Many Wallmart employees are on some sort of state aid. Did this guy really say that with a straight face?
Bingo, bango, bongo: the time has come to kick our standard of living in the teeth. What's half-way between Orange County 2005 and Nicaragua 2009? Probably happiness.
I, for one, will love the non-stop family reunion.
I kind of live that way now. By choice. But not in Orange County.
mock turtle (profile) wrote on Sun, 7/12/2009 - 9:55 pm
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good news...sure
that porsche 959 talked about previous thread
costs about 10 time a ford fusion ? no?
I believe they cost 250k new in 1987 and another 130k to make street legal in the US. I believe they cost 500k used now.
I looked on at the plastic on the automatic shifter on my Ford and it doesn't look like a 50k car (:
Nope.. it is just that many more people are reaching 65.. life expectancy after 65 has not changed much since the 1960s.
Though it may increase for those born after the 1960s, since a whole new level of treatment and lifestyle changes have made our bodies wear down much less than they used to.
//life expectancy didnt exceed 65 or so until the 60s or 70s.//
Walmart does have benifits for full time employees. Part time people don't qualify.
And honestly, if you are making minimum wage or a bit more, how much can you contribuite to a 401k or your share of health insurance. The benifits may be offered, but the employee can not afford to pay their required share.
Didn't Wal-mart improve? I believe they now provide heatlh coverage and gave their employees bonuses recently.
Yes - not exactly Goldman Sachs but better. Here in my corner of flyover I see workers at Wally World who used to work at the local mom-n-pops [they are still in business]... WalMart pays better money and offers better benefits than the old local main street mom-n-pops. That one is lost on the always bash WalMart crowd.
Europe will offer an interesting preview of demographic induced economic collapse. Will very low birth rates and overly generous pension obligations, it is all but certain. Eastern Europe will go first, followed by the Med states. If CIA world factbook is accurate with their demographic stats, this should begin any day now. We will follow a couple decades later.
I'm just listening to BBC "This American Life" about an English guy who succesfully faked mental illness to get out of a prison term for beating someone out. He figured he would get into a minor facility but ended up in a place called "Broadmoor". He is finding much harder to convince the doctors that he's sane. He's been there for 12 years. Funny but very scary to listen to.
I got this letter from a recruiter this week. This may be the new growth industry:
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Note from Susan Haddad
Today, I am networking with Engineers and individuals with an engineering background in hopes to find a few Mechanical Design Engineers and Materials Science Engineers. These job opportunities are for a widely recognized Firearms and Ammunition Company, who is hoping to find good engineers with a similar background. These positions are very specific in their job requirements. As well, the Materials Science Engineers would have experience with various metals, ceramics and polymers. This company offers an excellent relocation package. If you know anyone, please send my information along, or call me at 800-903-0426 ext. 309 Thank you for your time. Susan Haddad, VP, Operations
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Cutting 10 cords of wood at 80? Did he really use that much heat?
My husband swears it's worth every penny to pay someone else to do it. Altho he does cut almost all of our wood, too. But it about kills him. And gave him Lyme Disease.
Nuclear power plants are still hiring. Also, construction has begun on 4 new plants. Lots of navy nukes are still being actively recruited, and finding good jobs. It is a very hard industry to get into, though, with a very particular skill set. Usually they won't even talk to you unless you have previous experience in a Navy nuke plant, a conventional plant or an advance degree.
The irony of 'this american life' telling stories of british thugs beating up homeless people (in london), ending up in bureaucratic psychological hell. i heard that one the other day.
Most of my family is still in the EU. They do a very poor job if assimilating immigrants over there. I don't think that immigration is the answer. Actually, the US is probably the best place in the world for assimilating immigrants. Look at me: first generation, grew up speaking a foreign language at home, and indistinguishable from a 10th generation son of the american revolution.
Cutting 10 cords of wood at 80? Did he really use that much heat?
No about 75% of that - he 'saved' wood like he saved money. His last year of life he cut about five cords [six weeks before he died - I took some days off to help him, great time]... when he died he had about two years wood accumulated.
But it is cold in Minnesota in winter so you can go through a lot of wood.
BTW - tell your husband my father's doctors at Mayo attribute his living to mid-80s BECAUSE he split so much wood, tended such a large garden, blew his own snow, mowed his own yard. He had plenty of money to pay others to do it... but didn't. Meanwhile his buddies who only golfed died like flies in their 60s and 70s. There is a lesson there. FWIW I cut a cord this afternoon... and was shot all day afterward.
Look at me: first generation, grew up speaking a foreign language at home, and indistinguishable from a 10th generation son of the american revolution.
My grandparents came over from Greece. They did not encourage their children to speak Greek in America. When you're in America, you do as Americans do. My mother does not know the Greek language, unfortunately.
But I think that's changed with today's immigrants. Seems they bring their culture over with them.
The following have changed our rate of wear and tear.
1] Most jobs are sedentary or use a lot of safety gear.
2] We treat infections promptly and effectively.
3] We get far fewer infections (sewage treatment + clean drinking water + food safety regulations + refrigeration)
4] We treat conditions like hypertension far more effectively.
5] More non-invasive surgery (and it is cheaper)
6] Imaging. (again it is cheaper than not using it)
7] Less harmful surgical techniques.
8] Better understanding of what does not work or is fraudulent.
FWIW I cut a cord this afternoon... and was shot all day afterward.
A cord in one day, at your age, is very impressive.
My g'mother who lived to 104 walked every day. Walked to the bus to get downtown, walked to the grocery store, etc. That and the olive oil I think contributed to her long life. She was no string bean either.
Poor sod.Its a pretty infamous holding place for infamous killers - Ian Brady of 1966 "Moors Murders" fame was held there; so is Peter Sutcliffe (1976-81 "Yorkshire Ripper") - one of the Kray brothers(1960s) ( the real life counterpart(?) to the Piranha Brothers in the Monty Python sketch) and so on..
My parents came over from Greece. I learned English, of course, but we still spoke it at home quite a bit. This is fairly common with Greeks; the kids learn Greek and use it at home, but we never spoke Greek in public (except at church).
By that, he means Japan should no longer send relatives of managers of Bank of Japan to Italy with shoddy briefcases. Instead, maybe a group dressed up as pandas....let's say Australia.
L. - One thing my MD relative (the ER guy, don't worry) always said was the reason people who live so long live so long is because they don't get sick.
I would also add that they don't get too sick, even if they get sick, at younger ages. In the pre-antibiotic era chronic and recurrent infections were very common.
But I think that's changed with today's immigrants. Seems they bring their culture over with them.
There were plenty of older immigrants that were slow to assimilate... my grandfather's family were all Norwegian... they emptied a village in Norway and came to America - most settled in the same town in SW Minnesota [on the prairie]... 63 families 62 of them were Norwegian - one family in town was german... they actually changed their name from something like Schmidt to the 'Germans' because everyone called them that anyway.
Point is everyone in town spoke Norwegian for a full generation after they landed in America... and why not? They had very little contact with anyone else. My grandfather didn't learn English until he went to school [first grade] he was born 20 years after the family settled there.
My wife's Norwegian father had the same experience - didn't learn English until first grade - originally spoke Norwegian in the home.
Yeah, L, in years past I would've been dead from childbirth w/o modern medicine. My husband would've been dead from his constant sinus infections. We would've been dead as doornails.
The discovery of anti-microbials (antibiotics and synthetics) was largely driven by a non-profit motive effort - war related. Ayn Rand's characters would have never bothered looking for them. Nor would the MBAs or assorted CONmen that run modern companies.
If you are ever confronted with true believer in the "market" - a factual history of public health, vaccination and anti-microbial drug discovery can be used to shut them up real quickly.
dryfly, that's interesting. I guess it does depend on the immigrant. The fact that the whole town came over intact may have motivated them to hang onto their culture.
I think my other g'mother was norwegian. We have a family history book, I'll have to look that up.
Its also much easier to stay in touch with the motherland with technology. After all, Netflix carries a solid collection of Bollywood and there's even some on On Demand.
what is this thing with ayn rand. i read some of her books, okay writer, nothing that i remember to start her own ecnomic whatever with. so whats up.
She's kinda like Austrian Economics - a system so detached from reality that it can never actually be implemented, and therefore can never be disproven in practice, and therefore draws all kinds of malcontents looking for a silver bullet answer that doesn't exist.
Why Hollywood, surely you of all people would know that in Lake Wobegon
"all the women are strong, all the men are good-looking, and all the children are above average"
The whole concept that a zero sum, every man for himself world can be anything more than a jungle populated by murderous monkeys in suits who spend every waking moment trying to steal from or murder their neighbours.
//which part of that essay do you disagree with?//
Actually, hollywood, I believe that the midwest has the highest SAT scores in the nation. I have to double check that, but I believe dryfly pointed that out a long time ago.
Might to someone who doesn't know any better. There is PLENTY of genetic variety in a pool that large. If those 63 families stayed there 1000 years like easter island - maybe. But that isn't what happened in their world then or now.
FWIW towns like that to this day test higher than about anywhere in America... full of 30 plus ACTs and 1400 plus SATs. My kids all had 30 plus ACTs and weren't even the highest scores in their home room - let alone the school - not even close. Regular old public school out in the middle of nowhere too.
what is this thing with ayn rand. i read some of her books, okay writer, nothing that i remember to start her own ecnomic whatever with. so whats up.
She's kinda like Austrian Economics - a system so detached from reality that it can never actually be implemented, and therefore can never be disproven in practice, and therefore draws all kinds of malcontents looking for a silver bullet answer that doesn't exist.
Sounds a bit like Keynsian economics where it always would have worked if we'd just tried spending a bit more. Seems to be a more pragmatic and less idealogic approach mixing pieces of multilevel approachs works the best.
"I believe that the midwest has the highest SAT scores in the nation."
i'm sure they're a pale shadow of the scores in the asian-american majority schools here.
but that wasn't my point. the inbreeding that came with 19th century midwestern life killed many of my aunts and uncles. there's nothing normal about any kind of a ghetto, whether or not it has sewage-filled alleys or big green fields and cows.
as am I, thankfully only on one side. I also finished at a great college before I could legally drink. excess brains can be a nice side effect of inbreeding.
There you go, dryfly, you pointed out the SAT scores. I know I was really surprised to learn that. I would've thought for sure the northeast would have the highest scores. We do have some of the best colleges/univ in the NE.
"I would've thought for sure the northeast would have the highest scores."
no, but there is some consolation in having the highest property taxes, highest unemployment and oldest median age, right? though CA gives a run for the money on the second and AZ and FL might put up a fight in the last...
Um, hollywood, are you dissin my terrain here? Because whose state is now in unrelenting IOU land and whose state actually got their budget passed w/little harm?
"My philosophy, in essence, is the concept of man as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute."
--Ayn Rand, Atlas Shrugged
I agree with most of the statement, except for the line about "with his own happiness as the moral purpose of his life". I believe helping others, who share the same virtues (integrity, honesty, persistence, etc) as you, achieve self-actualization, is the big purpose in life.
There you go, dryfly, you pointed out the SAT scores. I know I was really surprised to learn that. I would've thought for sure the northeast would have the highest scores. We do have some of the best colleges/univ in the NE.
We send them out there - my daughter was one [RPI]... others in my family have gone to NYU, Harvard, Cornell, BU... me - I was a dummy... state uni all the way but turns out the program wasn't too shabby [Chem Engineering - U Minnesota].
I really am not 100% sure why the Upper Midwest does so well test score wise. Maybe if we had something better to do like surfing the kids wouldn't study so much.
As we all know dryfly, state univ's can have just as good of an education. And besides, when my daughter was applying to the ivies (and didn't get in), I was really surprised at the heavy party influence. Not that state doesn't have it, but I'd rather pay, well, $2K for a party school than, well, the ivy would've been free, but still.
Oh, I meant to tell you, it's not bio med, it's bio chem. I can't keep those majors straight. I stunk in science, I don't where mine got the science gene, not from my side anyway.
Unless you're in a quaint little Rockefeller toy town like Woodstock, VT, New England is horrible. Is there a lower circle of hell than upstate New York? A worse job market?
CA is bad in terms of our disastrous political structure, but the property taxes of NY and NJ, bizarre local justice system especially in NY, cost of living in CT, provincial gangsterism of RI, truly obnoxious bearings of the MA townies...
The only region worse is the overpriced swamp known as the mid-atlantic.
I know all of the above regions quite well, thank you. And it is quite possible to live in CA and not invest a dime in the real estate here. Works for me.
Smartest gal I ever met came from Three Rivers, Michigan. Where are you, Kathy?
For me it was a gal from a one room school house in the Sandhills of Nebraska. Absolutely blew away the whole chem engineering class and was fast tracked into grad school. Her whole school K-12 never had more than 8 kids at one time. She finished her full K-12 curriculum by the time she was 12 and from that time on it was all independent study & also acting as 'teachers aide'. She frequently corrected the prof's during recitations and lecture. Unbelievable. Last I heard was doing grad work at U Penn.
the chance to hang out with kids from all over the world is nice. unfortunately, they often are all from the same socioeconomic slice, just from 100 different nations. still, the average ivy probably beats CSU Bakersfield in terms of exposure to new and different ideas.
I am rather fond of New Hampshire. As for upstate NY, I currently live in Saratoga Springs. It is a gorgeous area, and the people are nice. The tax burden, however, is obscene. I plan to leave as soon as I am done with the Navy. Next stop, China or the Midwest (I haven't decided yet).
And it isn't just the property tax rate and obscure origin of property taxes - it is the city and county govs that seem intent on one-upping the legacy of the five families. Almost like New York contains 30 different Sacramentos, with Albany outdoing even Sacto itself.
Many of my friends' parents from the region have been driven south in retirement.
Oh, I meant to tell you, it's not bio med, it's bio chem. I can't keep those majors straight. I stunk in science, I don't where mine got the science gene, not from my side anyway.
LOL - my wife feels the same way. She was an art major & married an engineer... so far of the three kids... one studying IT... one bio med engineer and one wanting to study physics/math [freshman next year - not sure he has the horse power to do physics/math its tougher than engineering - we'll see].
I started out pre-med then switched to biochem but finished chem engineering. Almost a full double major biochem & chem engineering. So did a bit of the 'science thing'.
dryfly - my husband is an artist. I stink at art and I stink at science. Eldest kid is the science buff, middle is a computer buff, hopefully he'll go into IT but he's only going into 9th, and the youngest, she's a nothing-buff, but she sure is cute.
Nuke, the thing that worries me about living in China is the communism thing. I'd be really nervous they might want to flex their muscles in ways I'd be uncomfortable with. Othewise, I would find that interesting.
Can't count on Luck, it has always avoided me. I survive relying on patience and discipline. Now, someone please tell me, this war is going to end someday.
Yes we can! (good night you all, wish yo all the best, etc)
I know a couple of engineers that got visas and moved to China. It doesn't seem that difficult. Also, my wife is Chinese, which should make some of the cultural adjustments easier.
well, of course, the ONLY exemption to #1 occurs in a particularly dramatic way involving #2, namely, the director, cinematographer, pyro guy and CG monkeys.
self-actualization is a process that happens through gaining experience. You can't study for it
(edit) the most you can do is try to remain open to the possibility..
China and the US are both corrupt. The difference is in the scale. In China, corruption exists on the retail level. Most low level interactions with government require some type of bribery (getting a driver's license, building permit, etc). In some ways, this is very convenient; I would rather give the clerk 20 Yuan than wait in line all day for the right paperwork. Higher level corruption, although common, is often punished swiftly and brutally. In the US, retail level corruption is very rare. In NYS, that means wasting days at the various local government agencies that have insinuated themselves into every facet of everyday life. The higher level corruption is tolerated and then rewarded with appointments to the Treasury department.
The Chinese also know how to cope with hardship. This depression will not be much of a change for most of the population. In the US, we have 2 generations that have known little hardships or adversity. God knows how they will react to 10%+ unemployment for an extended period of time. I think that irrational outbursts are more likely here than over there.
Nuke (profile) wrote on Sun, 7/12/2009 - 11:43 pm
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I know a couple of engineers that got visas and moved to China. It doesn't seem that difficult. Also, my wife is Chinese, which should make some of the cultural adjustments easier.
I would recommend taking an extended vacation there to see how well you adjust.
The first time we went to Asia we went to Hong Kong but not China and I found Hong Kong pretty busy. The second time we went to Hong Kong after 3 weeks in Beijing and Hong Kong felt amazingly laid back after China.
We tend to slum it a little bit when we travel and Beijing is the first place where I'd ever been that I would have paid for for a high end hotel just to get away from the non stop bustle/ action. But we were staying in local areas with very few foreigners as my inlaws still have an apartment there.
It can also appear to be a real dog eat dog world in the big cities. My wife grew up in Beijing and doesn't truly know whether she could get used to the lifestyle again.
If you keep your nose clean and don't get publicly involved in politics you shouldn't have any issues as a foreigner with communism.
Nationalistic feelings during economic upheaval would be much more likely to cause problems for foreigners IMO ( especially if you are a visibly non-white foreigner)
i agree with you about how spoiled we are and how braty we are going to be when it dawns on us that we cant party anymore.
as for the bribery i agree with that too but i was shocked totally shocked to find out that man didnt work for immigration in manila and i and my 3year old daughter had overstayed three months. oops. looking back that is nothing, piddle little stuff compared to what been/being done now.
That is actually the plan. My trips over there have been relatively brief so far. Next year the wife and I are going to spend a month in the PRC. We will spend most of our time in her home province (Fujian) with trips to Shanghai. It will be a good opportunity to try and live as a local and see how I like it. I haven't committed to anything yet, and I can always go back to my beloved Midwest (or what's left of it).
Europe will offer an interesting preview of demographic induced economic collapse. Will very low birth rates and overly generous pension obligations, it is all but certain. Eastern Europe will go first, followed by the Med states. If CIA world factbook is accurate with their demographic stats, this should begin any day now. We will follow a couple decades later.
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Really fascinating but what's odd is Japan.
Their demographics are "worse" than Europe's, their debt-to-GDP is out of sight,
and the Yen ... is strong and getting stronger.
The most expensive place to live in the WORLD is Tokyo.
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I do not understand how these facts can co-exist in the present. So I sure don't know where the future is headed.
"I do not understand how these facts can co-exist in the present."
aging demographics could logically lead to a very strong currency and very weak equities market, especially in a nation of compulsive savers. and tokyo may seem expensive now, but RE there is a tiny fraction of what it cost 18 years ago.
I think most of the reason that the midwest tests better on the SAT is 2 things really.
First off in the midwestern schools the ACT is used a lot more. So people who take the SATs tend to be applying for the very highly ranked colleges who take the SAT (and usually are the better students).
I grew up in CA, and no one here takes the ACT.
That said, the other thing is that most imigrants live on the coasts. You still take the SAT anyway and it kills the average on the verbal scores.
So I wouldn't say that the midwest is say genetically superior or anything its just the test is in english. That and the skew of SAT taking for people who want to go to say ivy league schools probably pushes the midwest average up since most people take the ACT in the midwest.
Nothing IF you can time it right. Fact is most can't and the skew is toward the side of running out of money LONG before you run out of years. That is when you burden the next generation [either direct family or 'society' as a whole.
Don't the Japanese have 60 or 100 year mortgages ie you die and pass it on to your descendants? With the property market having declined for 20 years that has to really bite the next generation. ie I give my son my 1 bedroom apartment AND the remaining 83 year mortgage!
“Japan’s government debt versus GDP ratio is much higher than those of any other country, including the U.S. and U.K.,” McCormack said. Fitch forecasts Japan’s public debt will reach 200 percent of GDP by 2010; the U.S. burden will climb to about 90 percent and the U.K. will reach 80 percent, he said.
Really fascinating but what's odd is Japan.
Their demographics are "worse" than Europe's, their debt-to-GDP is out of sight,
and the Yen ... is strong and getting stronger.
The most expensive place to live in the WORLD is Tokyo.
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I do not understand how these facts can co-exist in the present. So I sure don't know where the future is headed.
Is this not simply the unwind of the so called carry trade? ie Japanese invest in other currencies with higher interest rates - but now with ZIRP all around the world and a revised view of default risk they unwind their trades and bring the yen home?
Another possibility is people using Yen as an alternative save haven currency to the US$ or Euro...
hans, you are correct that almost no one takes the SAT in the midwest. It's only the top students who are aiming for fancy out-of-state colleges who do. I would know, because I went to public school in one of those midwestern states that are so proud of their SAT scores. 95% of the kids only took the ACT, so I don't think it means a lot that the 5 kids who were gunning for valedictorian took the SAT and did well. My school was still an utterly crap school, as were most other schools in that state. Check out the participation rates here, and you'll see that Minnesota, Iowa, Illinois, the Dakotas, etc., all have single-digit participation rates: SAT scores by state - USATODAY.com
Scorched Earth - Is this not simply the unwind of the so called carry trade? ie Japanese invest in other currencies with higher interest rates - but now with ZIRP all around the world and a revised view of default risk they unwind their trades and bring the yen home?
Maybe, I don't know.
Can forex be dominated by "Japanese investing in other currencies" when the Japanese are the most indebted?
Another possibility is people using Yen as an alternative save haven currency to the US$ or Euro...
Why would it be a safe haven if Japan has the worst debt and worst demographics?
yes, the UNG thing - well, it is logical that some of these popular new-fangled ETFs might have some issues maintaining their synthetic positions in the context of a finite real market for such goods. as long as they effectively track the BTU chicago price, I don't see it as a relevant issue. it just means that they are limited in their ability to keep up with demand, which is probably a sign that ETFs like UNG (and GLD, DBA, USO etc) are actually staying honest in terms of having legitimate claims on the commodities they purport to represent.
that's just my takeaway, they seem to track the comex/nymex price pretty well in any case.
i'm just happy i own less than 200 shares and they're under $15 as an entry - what a bloodbath. still, i'll step up and triple down if the price is right. natgas is the future.
"Why would it be a safe haven if Japan has the worst debt and worst demographics? "
because that debt is at a microscopic interest rate and it is still the greatest export nation in the world, emphatically so now that germany is caught in bed with housing-drunk spain, ireland, greece, etc.
"Why would it be a safe haven if Japan has the worst debt and worst demographics? "
Good question. Maybe
1.) It went into recession way earlier in 1990. So people think it'll emerge out of recession sooner than other countries.
2.) Despite the large public debt, Japanese households have one of the highest personal wealth savings in the world.
3.) Japan/Germany keenly remembers the hardship from not so long ago. Being the losing country in WWII probably magnified that. Most Japanese households have stored grains, close relationship with their community, respect for the farmers (except during the boom days in Tokyo where the farmers in Tokyo got to not pay huge taxes)
4.) It has the one of the highest standard of living in the world. and it's still #3 in the world in terms of GDP
I walked into the bar around 10pm and saw three customers. The bartender chick confirms that most places are now closed on Sunday nights and she was suppose to close after 10pm if she has less than ten customers. But she's not in a hurry and could use the hours so I play some pool until 12:00pm with a South Seas Islander kid wearing a "SoCal' t-shirt who sings along to Country Western tunes.
Then I walk him home because I'm already headed that way and he seems a little too drunk to be left alone.
Damn.
I probably have to drive into Boise proper to get any Sunday night pool action now.
The big change in this technology cycle is the speed and accuracy of the feedback cycle and the incredible granularity of what can be tracked. I was thinking about old-style advertising yesterday and I realized that it was a coarse and blunt tool in the television age, and determining its effectiveness was difficult.
I think the granularity and traceability imply that advertising has to truly be advertising, i.e. something relevant to the target audience instead of something that can be force-fed down the customer's throat.
@squidward Maybe, I don't know.
Can forex be dominated by "Japanese investing in other currencies" when the Japanese are the most indebted?
I think it is purely a relative thing occurring currently ie Japanese investors are repatriating more of their money homewards. I have no idea what percentage they make up of global currency investing but as an Aussie I do know they have been extremely important for many corporates here. For many years it was a great trade - convert yen to Aussie invest in Gov bonds or corporate bonds with relatively high yields and then watch the Aussie dollar move north generating capital gains into the bargain. A lot of people even borrowed yen to leverage up the returns, probably with drastic results when it went pear shaped from mid 2008...
Even though Japan is heavily indebted, it might look better than either US or Europe as a safe haven. At least they have experienced deflation already, I mean their property assets will probably keep sliding but have already been falling for two decades!...in addition the people are amazing savers. The comments here suggest that the US and Europe (maybe 1-2 years behind) is entering a serious downturn with possible societal dislocationary effects, as a relative bet on one of the Big 3 currencies Yen seems better able to hold its value.
The meme-tracking paper is interesting. I knew it was only a matter of time before somebody with a substantial math background got into it. They're still focused on quantification rather than manipulation, though. It's likely that the Internet will differentiate over the next few years as an auto-immune response to manipulation, I think it's already happening when you look at censorship trends.
What's really interesting is what doesn't happen, the dead spots.
4.) It has the one of the highest standard of living in the world. and it's still #3 in the world in terms of GDP
I can echo that having been to Japan many times when living in Asia. One of my German mates put it succinctly - "Japan works." The train system is unbelievable, people do not even talk loudly in the carriages so that other travellers may sleep in peace. The place is extremely clean I watched many different groups collecting their rubbish from the train once it reached the destination and carrying outside to specially marked bins. However living space is at a premium and apartments are tiny.
broward: It's likely that the Internet will differentiate over the next few years as an auto-immune response to manipulation, I think it's already happening when you look at censorship trends.
If I understand you correctly, then, John Gilmore's law or observation is still in effect: “The Net interprets censorship as damage and routes around it."
I continue to be impressed with the sheer number of communication methods, from voice inside video games to text inside everything, to skype over wifi smartphones on public LANs to everything inside everything else, and the proliferation of useful tunneling tools.
Regarding Japanese debt to GDP, the figure quoted above was government debt only. I think if you include all debt (personal, corporate, and government), the U.S. is the undisputed champion. Were #1!
And after pondering it for a while, I think total debt is the one that really matters.
NervousRex (profile) wrote on Mon, 7/13/2009 - 2:42 am
If I understand you correctly, then, John Gilmore's law or observation is still in effect: “The Net interprets censorship as damage and routes around it."
The 5-0 is trying VERY HARD to bring the nation state to cyberspace. They REALLY cannot deal with the fact that it isn't geographically coincident with the actors, and being modern police, everything that is not actively subject to their surveillance and control "outside the wire" / "red territory".
I think the nation-state as we know it is passing away in the modern era, but we'll still see lots of walled gardens springing up in the net over the next few years and lots of people persecuted. You can see it in the way the international LEO community is lining up to trot out the terrors of free speech on the American internet and how we're "our own worst enemy supporting fundie muslim websites" (for domestic consumption to whip up the Fox Friends) / "global bastion of hate speech" (for foreign first world consumption, playing on the image of us as white supremacist yokels).
It's a big deal -- the net is antagonizing a lot of established power structures, specially information distribution monopolies, and they are trying very hard to silence the free voices of the world and make the anonymous wags of the internet either have to join established power hierarchies or be criminalized. The global lie that there was a "true" accepted media narrative with clearly delineated truth and falsehood, white and black hats, is coming apart and a lot of people see their grip on power eroding as a result.
“The Net interprets censorship as damage and routes around it."
No, the opposite. Nations are moving towards controlled versions of the Internet. Italy, Australia.
Be careful not to confuse communication method with content or ubiquity.
There were always alternative media in the U.S. but the great majority of people chose to watch television and read newspapers.
There are strong social forces towards a certain level of conformity, which I'm sure the longer-term CR readers can talk about.
The governments don't have to make their communication channels bullet-proof, only a socially preferred choice.
I was putting together a presentation for Defcon 17 but I bailed out on it.
Here's a listing of "internet differentation" links that I compiled for the presentation.
The theory that "information routes around damage" is a simplistic idea from the early days of the Internet when it was far more Libertarian.
It may be technically correct but it is socially wrong.
As you've seen day in and day out during the Credit Crisis, people do not WANT the truth.
They want to be comforted and they want to fit in to the social norm.
broward (homepage, profile) wrote on Mon, 7/13/2009 - 6:23 am
The governments don't have to make their communication channels bullet-proof, only a socially preferred choice.
I think you have a particularly defeatist attitude, in that I think in a bygone era you might be talking about how nobody would ever be able to seriously dispute the nature of divine right to a popular audience. The real basis of the previous regime of intellectual content was the one->many, capital-intensive, limited-station nature of television & radio broadcast media, and I think that is gone forever. You will see a lot of effort at establishing "defined channels" and a lot of people may die or go to prison over it, but you won't get the cat back into the bag. It's ultimately geezer-placation, like the War on Minorities, err, pardon me, Drugs, here in America.
There are a lot of hacked-off power structures, cops, media and corporate interests are all offended by the architecture of the modern internet, but I don't think you're going to see a viable replacement to the data architecture, just the almight dying struggle of a foundering monoculture drowning in information.
I think you have a particularly defeatist attitude,
That's a compliment coming from you.
I watched Waco burn, I know what happened there and I know how the American people reacted.
The great majority of people don't want to be bothered with hard truths which may disrupt their lives.
That's not a defeatist attitude, it's a proven fact.
It's easy to confuse technology with behavior.
How a bit or byte is delivered doesn't change human behavior.
broward (homepage, profile) wrote on Mon, 7/13/2009 - 6:29 am
As you've seen day in and day out during the Credit Crisis, people do not WANT the truth.
They want to be comforted and they want to fit in to the social norm.
I think you're just alienated from the human race and it's coloring your judgement.
People have all sorts of opinions at the street level. The paid shills certainly clap when told to clap and continue clapping until the green light goes out but I think there's no coherent yearning to have a media mononarrative circa 1978, outside of people who are cops and news anchors. Especially in America, the post-9/11 festival of braying patriotic ninnydom is going to poison the well for at least another five years, and probably another decade, by which point this will all be a fading historic irrelevancy. They really need to harmonize the architecture cross-borders or it'll be arbed, and I think that is particularly doomed, given how global industrialization and Basel II turned out.
I think you will see a successful continuation of the correlation of people with IP addresses, and people with places and other people, and IP addresses with each other, and ideas with people and IP addresses, and clouds and clouds of accountability layered in that space. This is ultimately more threatening to me than some third rate bureaucrat in a country with two T3's and some firewall rules.
At some point I suspect you will not be able to utter any peep that is not allowed without paying some immediate consequence. We are a decade closer to this now than I expected in 1995. At some layers of this civilization this accountability mapping exists now. With cell-phones the correlation is nearly complete. I suppose someone runs some nifty trellised word-spotting on the whole hairball in addition to archiving it for later data-mining.
When this accountability mapping dribbles into the civil space we will need a new medium to continue this conversation. We might even have to revert to stories told over a fire and handshake agreements.
broward (homepage, profile) wrote on Mon, 7/13/2009 - 6:47 am
And I think that you need to believe that it's all about me.
Believe what you want, I have been watching the ebb and flow of this game for about 20 years now. There ain't no great white hope for the media mononarrative, it's too co-opted and produces too much information that obviously conflicts with reality. If "green shoots" had actually turned the economy around, or if there had been nuclear weapons in Iraq, it would be different, but there is no way arguments for a 'responsible internet' are going to get the kind of serious long-term traction they need to make them stick. I see the argument and the trend, I just don't think the context supports the maturation.
NervousRex (profile) wrote on Mon, 7/13/2009 - 6:48 am
At some point I suspect you will not be able to utter any peep that is not allowed without paying some immediate consequence. We are a decade closer to this now than I expected in 1995. At some layers of this civilization this accountability mapping exists now.
The thing to remember about this is that the attitude that sponsors it is one and the same as the attitude that is killing your society. As it comes to maturation, the ability to enforce the results will decline precipitously. Control states are not productive places, and this is not merely based on the effort expended at establishing and maintaining control, but on the context that status produces. There's a reason prison labor performs simple industrial tasks and doesn't, for example, design aerospace vehicles.
No, no internet. Only Village Voice and Dick Gregory to fend off the MSMedia machine. Enough, though, to drive a wedge between the great generation and their offspring. And also, a year later, one of the finest moments in the New Yorker's history, Philip Hamburger's "Aftermath", June 5, 1971. Which NYer archives online as abstract only.
edit: If you can find the complete article, it should put paid to any impulse to characterize 1970 as a simpler time.
Technology is an easy placebo. I realized after working for an Indian company the real miracle of Gandhi's achievements. And he did it without technology.
Models are abstractions of concrete structures. By definition, they hide and distort details. Like filters, models create discontinuity in perception. Understand the distortion of a model to apply the Mixed Message Pattern as a wedge into the contradiction between model and reality. If discordance is great enough, it is a lever to move the model and create change.
This is what Gandhi did.
He grasped the model.
Stumbled upon the discordance between model and reality.
Identified the leverage between them.
And then pushed it.
This is amazing.
Reality is always more complex than our perception of it. We always think in stereotypes and abstractions. Therefore, discordance always exists, somewhere. The trick is finding the greatest discordance and leveraging it.
Agreed wholeheartedly BR in the self-limiting aspects of control states. As a personal note, if we've actually reached the point where these inefficiencies are broadly manifest it is too late to do much useful, and (probably past) time to hide. As it is I have convinced myself there are myriad widely beneficial tasks to attend to now.
Multicast and unicast and point-to-point (edit) will continue to steal bandwidth and importance from broadcast unless there are limits of some sort imposed on them.
We use broadcast TeeVee as a source of humor around this house, and not much more.
Broward, your work is right there and I'm reading more all the time. Much appreciation.
One more thought about control societies in this context.
It is drastically easier to control electrons than paper and people. It is no longer necessary to assign N police per target to get good surveillance coverage (edit: as it was for the Soviets, and to store and process vast paper). It's just a very slight incremental cost over the baseline technology per person. E-911 will do it for you, along with data-mined correlated peer matching so you can track important peers.
The cost of surveillance, at least, will approximate zero. Then the practical inhibition to the control society (other than laws or customs of course) must be the cost of controlling a citizen. If that asymptotically approaches zero then you're down to laws and customs as the only limit to complete control.
That is where my speculation will end. Hoping for the best.
NervousRex (profile) wrote on Mon, 7/13/2009 - 7:15 am
Agreed wholeheartedly BR in the self-limiting aspects of control states. As a personal note, if we've actually reached the point where these inefficiencies are broadly manifest it is too late to do much useful, and (probably past) time to hide. As it is I have convinced myself there are myriad widely beneficial tasks to attend to now.
Just IMO, but, Babylon fell. You should do whatever you think you need to do. I'm here having fun because I think I'm precisely small enough to avoid squashing and precisely loud enough to needle the responsible parties. If you aren't here to point and laugh at the wicked weeping for their gold, you probably have better things to be doing.
RIYADH/LONDON (Reuters) - Treasury Secretary Timothy Geithner will seek to reassure Gulf Arab states this week that U.S. dollar assets they hold in large quantities remain a strong investment.
A recent decline in Saudi foreign assets shows the purchase of U.S. treasuries by Washington's Gulf allies, five having currencies pegged to the dollar, at levels seen in the past decades should no longer be taken for granted.
The day is drawing closer when the USD is NO LONGER the reserve currency, IMO.
If supporters of a new kind of visa get their way, the U.S. could soon be welcoming retirees who don't want jobs at all - just a place to spend their money, as CBS News correspondent Kelly Cobiella reports.
bring them own and let them spend. bring back the illegals give them social security card, and green card (no citizenship) at the borders we need the money.
July 13 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke probably will show how the central bank will exit the biggest monetary expansion in history when he reports to Congress next week, economists said.
Is there a lower circle of hell than upstate New York? A worse job market?
If Upstate NY is so hellish, then why do so many "post-apocalyptic" TV shows and movies paint it as the green and pleasant promised land that everyone tries to escape to after the world blows up? Damnation Alley (Albany, NY). Jericho (Rome NY one of the six remaining seats of government). The recent ABC scarefest Earth 2100 ends in idyllic upstate NY.
The real idiots are the ones who assume that a "great job market" will be important in the next 50 years.
The idea of total informational awareness is completely the opposite of our ideal of freedom.
But this is America, and something like the Stasi could never go on here.
//snark off//
Regulators contend Bank of America owes at least part of a $4 billion fee it agreed to pay in January -- even without a completed legal document -- because the company benefited from implied U.S. backing on about $118 billion of Merrill Lynch assets, such as mortgage-backed bonds, people familiar with the matter said. The Charlotte, North Carolina-based bank says it owes the Treasury nothing, according to the people, who declined to be identified because the negotiations are confidential.
“It’s the fault of the government for never getting it signed,” said Townsend, whose firm doesn’t own shares of the bank. “But part of the inherent unfairness in dealing with government is that they can manipulate all kinds of things to make your life hellish.”
interesting and thank you
oh did anyone ever figure out who put sell puts on united and american in 01
or sell puts on bearsterns or lehman?
just wondering.
Just the fact that all financial services are a net cost, creating no value but rather extracting it from the real economy - and the current situation fo having the banking sector try and earn its way out of insolvency guarantees an enormous resource drain that will deepen and prolong the downturn for main street.
But other than that it's all good - except maybe for the frontrunning thing - but that is an IB making coin the old fahsioned way...
Japan’s opposition party, leading in polls ahead of next month’s election, said the nation should consider shifting its $1 trillion of foreign reserves away from the dollar and buying International Monetary Fund bonds.
"josap (profile) wrote on Mon, 7/13/2009 - 1:10 am .
The gas tank consumer mesurement.
$20.00 per tank, life is ok.
$30.00 per tank, life is getting costly.
$40.00 per tank, life is hard.
$50.00 per tank, life is not possible as we know it.
(based on a 12 gal tank)"
LOL. I drive a small sedan, and I have to chuckle just a little bit when I pull up tot he gas pump right after a big SUV, and see $75.xx on the sale price. Ouch!
" Outsider (profile) wrote on Mon, 7/13/2009 - 1:18 am
When my grandfather retired from his luncheonette in the 1960s, he had amassed $30K - a small fortune.
Of course, he lived to 95, my grandmother to 104. And when he went into the nursing home, they took it all anyway.
No matter how much the elderly have "saved", it's not gonna last long."
Correct! You definitely want to be broke BEFORE you go to a nursing home. On of my grandmothers was screwed like that, and my uncles (her sons) have been careful to make sure that much of their estates has been quietly over time passed along to their kids to avoid them same. My Mom still thinks she can take it with her. Oh well.....
JPMorgan is loaning Air India $1-billion to buy 10-new jets. Money from the billions they received in the TARP. It's also GUARANTEED by the US? (US taxpayers) Was THAT part of TARP also - monies going to bailout other countries as well? (Air India is owned by NACIL - The Indian Government)
The global lie that there was a "true" accepted media narrative with clearly delineated truth and falsehood, white and black hats, is coming apart and a lot of people see their grip on power eroding as a result.
the true and accepted media narrators are being harassed by their bosses to somehow claw back circulation (their grip on power)
and to get in tune with the shift to the internet
CR,
Can you conjure up some "good news".. The MSM has been doing it for decades..
Can you conjure up some "good News"
Red Sox back in 1st place. Dodgers solidly in 1st place. October fireworks in the Dawghouse.
good news...sure
that porsche 959 talked about previous thread
costs about 10 times a ford fusion ? no?
You can buy a 2 year old Infiniti G37 and get almost identical performance for less than 25k.
//costs about 10 time a ford fusion ? no?//
The good news? The fact that we are still posting here and free to exchange whatever silly little notions we have in our heads to get slapped down by the wiser and more experienced...
"Americans are paying about $1.55 less per gallon than they were on July 11, 2008, when the price-per-gallon of gas touched a high of $4.11."
Ahhahaa.....oh. That wasn't the punchline. I see.
good news wanted? I am seeing several reports issued today by GS and MS expecting a good tech earnings season this week,, most should beat estimates, although expect conservative guidance.
Scrooge McDuck (profile) wrote on Sun, 7/12/2009 - 9:59 pm
"Americans are paying about $1.55 less per gallon than they were on July 11, 2008, when the price-per-gallon of gas touched a high of $4.11."
Ahhahaa.....oh. That wasn't the punchline. I see.
The joke is on all the peakenese who used last summer as a soapbox.
Porsche 959 = 0-60 mph in 3.6 seconds
Infiniti g37 = 0-60 in 5.0 seconds
Will you notice the difference?
anyone heard of any companies hiring lately?
Nope, but if we start another war that could change.
//anyone heard of any companies hiring lately?//
Sigh ...
Forwarded from the next thread:
josap said:
For the same reason I take care of my mom who is 77. For the same reason your parents raised you with the best they could offer.
When you are old enough you will figure it out.
I'm not talking about individual cases here; we are talking about national shotgun bailouts that don't discriminate between the 70-year old mom or whoever. I'm sure because of the housing bust/bubble, there are folks who aren't able to care for their 77 year old parents, because their money has been fleeced away to the banks. And then soon we will have to bailout social security and medicare and the country will "pretend" to help the older generation, taking our tax money to do it, but the tax money won't be enough so we'll still be trying to save them.
There are 70 year old parents who have no one able to take care of them because of this wrecktcd economy...
Bank of America Said to Balk at Paying Fee to U.S. for Backstop
Bank of America Said to Balk at Paying Backstop Fee (Update2) - Bloomberg.com
By David Mildenberg and Rebecca Christie
July 13 (Bloomberg) -- Bank of America Corp. is trying to avoid paying billions of dollars in fees to U.S. taxpayers for guarantees against losses at Merrill Lynch & Co., saying the rescue agreement was never signed and the funding never used. Regulators contend Bank of America owes at least part of a $4 billion fee it agreed to pay in January -- even without a completed legal document -- because the company benefited from implied U.S. backing on about $118 billion of Merrill Lynch assets, such as mortgage-backed bonds, people familiar with the matter said. The Charlotte, North Carolina-based bank says it owes the Treasury nothing, according to the people, who declined to be identified because the negotiations are confidential.
Lucifer, falling gasoline prices seems like good news to me
best wishes
anyone heard of any companies hiring lately?
Wal-Mart expects to add 22,000 jobs at new stores in '09 - Jun. 4, 2009
"Wal-mart: We're Hiring 22,000"
The gas tank consumer mesurement.
$20.00 per tank, life is ok.
$30.00 per tank, life is getting costly.
$40.00 per tank, life is hard.
$50.00 per tank, life is not possible as we know it.
(based on a 12 gal tank)
Gasoline prices...
I live in the East Bay of SF region and recently noticed a change in gasoline pricing. For a very long time, the difference in price between the lowest and middle grade was always 10 cents. For the last month or so, the difference between these two grades has run 15-20 cents at most stations.
Is anybody seeing this elsewhere? When "average" prices based on surveys are published would a such a change be reported?
Not only are gasoline prices falling, but mortgage rates are falling. That's good news. For re-fi's.
Kidney transplants are very cost effective for someone of his age. He can work and most transplant medications are off patent.
In thailand, hospitals that put most american hospitals to shame (services and outcome) can perform that operation for less than 1/4th the price here.
Slump Spreads to Health Care as Michigan Loses Auto Jobs
Slump Spreads to Health Care as Michigan Loses Auto Jobs - WSJ.com
By KATE LINEBAUGH
TROY, Mich. -- The sputtering Michigan economy is dragging down the state's once-strong health-care system, offering a preview of how a lingering recession could corrode Americans' hospitals, savings and health. When software engineer Bruce Markel arrived in Michigan in 1990, he had a failing kidney. Though the government pays for kidney transplants, the insurance plan offered at the time by Mr. Markel's employer, Electronic Data Systems Corp. -- the big consulting firm then owned by General Motors Corp. -- covered nearly all the costs before and after his transplant. Mr. Markel says his coverage was so good that he turned down federal benefits for his postoperative care.
There are 70 year old parents who have no one able to take care of them because of this wrecktcd economy...
There always are. My father died a few years ago at age 84 and even though his cohorts were supposedly 'great savers' he said most still died broke and with limited 'support'. It is the fate of the majority of the human race past present and future.
YLSP
I will be one of those 70 yr old parents. So on top of taking care of mom, helping my son and his family, a bit of help for my brother and manging to care for myself - things get a bit tight.
Once mom is gone I really need to make sure I can take care of me for the rest of my life. There will be no fall back position for me in my old age. Makes life interesting.
What's wrong with dying broke? Can't take it with ya. Unless you reincarnate. into the same family.
"life is not possible as we know it" and "It is the fate of the majority of the human race past present and future."
Bingo, bango, bongo: the time has come to kick our standard of living in the teeth. What's half-way between Orange County 2005 and Nicaragua 2009? Probably happiness.
I, for one, will love the non-stop family reunion.
What can I say..
Delayed Retirements Are Boon and Bane for Firms
Delayed Retirements Are Boon and Bane for Firms - WSJ.com
By KELLY GREENE and ANNE TERGESEN
Plunging stock values are prompting many older workers to delay retirement, creating surprising benefits for some employers but nagging concerns for others. In a recent survey of more than 2,200 U.S. workers by consulting firm Watson Wyatt Worldwide, 44% of respondents age 50 or older said they plan to postpone retirement; half of those say they plan to work at least three years longer than previously expected. That has added pressure on companies struggling to reduce payroll as profit dwindles. It also threatens to clog the pipeline for companies that want to bring in new blood.
What's wrong with dying broke? Can't take it with ya. Unless you reincarnate. into the same family.
Nothing IF you can time it right. Fact is most can't and the skew is toward the side of running out of money LONG before you run out of years. That is when you burden the next generation [either direct family or 'society' as a whole].
When my grandfather retired from his luncheonette in the 1960s, he had amassed $30K - a small fortune.
Of course, he lived to 95, my grandmother to 104. And when he went into the nursing home, they took it all anyway.
No matter how much the elderly have "saved", it's not gonna last long.
"During this difficult economic time, we're proud to be able to create quality jobs for thousands of Americans this year," Eduardo Castro-Wright, vice chairman of Wal-Mart U.S., said in a statement"
Quality!?! Many Wallmart employees are on some sort of state aid. Did this guy really say that with a straight face?
Bingo, bango, bongo: the time has come to kick our standard of living in the teeth. What's half-way between Orange County 2005 and Nicaragua 2009? Probably happiness.
I, for one, will love the non-stop family reunion.
I kind of live that way now. By choice. But not in Orange County.
Ya... but most don't get it!
//No matter how much the elderly have "saved", it's not gonna last long.//
mock turtle (profile) wrote on Sun, 7/12/2009 - 9:55 pm
reply ignore user
good news...sure
that porsche 959 talked about previous thread
costs about 10 time a ford fusion ? no?
I believe they cost 250k new in 1987 and another 130k to make street legal in the US. I believe they cost 500k used now.
I looked on at the plastic on the automatic shifter on my Ford and it doesn't look like a 50k car (:
Didn't Wal-mart improve? I believe they now provide heatlh coverage and gave their employees bonuses recently.
He has an MBA.
//Did this guy really say that with a straight face?//
hell, the retirement industry sprung up in the last 50 years or so. life expectancy didnt exceed 65 or so until the 60s or 70s.
it is a relatively new paradigm
Outsider,
The banksters are doing that too.. but who is really paying for it?
//I believe they now provide heatlh coverage and gave their employees bonuses recently.//
butter,
Nope.. it is just that many more people are reaching 65.. life expectancy after 65 has not changed much since the 1960s.
Though it may increase for those born after the 1960s, since a whole new level of treatment and lifestyle changes have made our bodies wear down much less than they used to.
//life expectancy didnt exceed 65 or so until the 60s or 70s.//
Walmart does have benifits for full time employees. Part time people don't qualify.
And honestly, if you are making minimum wage or a bit more, how much can you contribuite to a 401k or your share of health insurance. The benifits may be offered, but the employee can not afford to pay their required share.
Didn't Wal-mart improve? I believe they now provide heatlh coverage and gave their employees bonuses recently.
Yes - not exactly Goldman Sachs but better. Here in my corner of flyover I see workers at Wally World who used to work at the local mom-n-pops [they are still in business]... WalMart pays better money and offers better benefits than the old local main street mom-n-pops. That one is lost on the always bash WalMart crowd.
I have a feeling when I hit 80, I'll jump out of an airplane pumped full of cocaine. I'll let gravity/wind decide if I live or not.
Slave owners always hated industrialists. Not that industrialists were good, but slave owners were worser.
// That one is lost on the always bash WalMart crowd.//
I have a feeling when I hit 80, I'll jump out of an airplane pumped full of cocaine. I'll let gravity/wind decide if I live or not.
At 80 my father was still cutting ten cords of wood every summer, tending a HUGE garden, and completely living on his own.
You might wait to see how you feel at 80 - YMMV.
Europe will offer an interesting preview of demographic induced economic collapse. Will very low birth rates and overly generous pension obligations, it is all but certain. Eastern Europe will go first, followed by the Med states. If CIA world factbook is accurate with their demographic stats, this should begin any day now. We will follow a couple decades later.
I'm just listening to BBC "This American Life" about an English guy who succesfully faked mental illness to get out of a prison term for beating someone out. He figured he would get into a minor facility but ended up in a place called "Broadmoor". He is finding much harder to convince the doctors that he's sane. He's been there for 12 years. Funny but very scary to listen to.
anyone heard of any companies hiring lately?
I got this letter from a recruiter this week. This may be the new growth industry:
.
.
Note from Susan Haddad
Today, I am networking with Engineers and individuals with an engineering background in hopes to find a few Mechanical Design Engineers and Materials Science Engineers. These job opportunities are for a widely recognized Firearms and Ammunition Company, who is hoping to find good engineers with a similar background. These positions are very specific in their job requirements. As well, the Materials Science Engineers would have experience with various metals, ceramics and polymers. This company offers an excellent relocation package. If you know anyone, please send my information along, or call me at 800-903-0426 ext. 309 Thank you for your time. Susan Haddad, VP, Operations
.
.
Cutting 10 cords of wood at 80? Did he really use that much heat?
My husband swears it's worth every penny to pay someone else to do it. Altho he does cut almost all of our wood, too. But it about kills him. And gave him Lyme Disease.
It has already begun.. the property bubble was the last gasp of that system.
many people bought into the whole property bubble idea, because they did not see any other way out..
//If CIA world factbook is accurate with their demographic stats, this should begin any day now. //
Would not immigration take care of some of the low birth rates in Europe?
Americans can move to Europe, South Americans can move north again. it will all even out. Or the flu could get us all.
since a whole new level of treatment and lifestyle changes have made our bodies wear down much less than they used to.
Now it's all over the news about how super low calories are actually (they say) really good for you.
Which actually might come in handy in the near future.
Nuclear power plants are still hiring. Also, construction has begun on 4 new plants. Lots of navy nukes are still being actively recruited, and finding good jobs. It is a very hard industry to get into, though, with a very particular skill set. Usually they won't even talk to you unless you have previous experience in a Navy nuke plant, a conventional plant or an advance degree.
They don't like darkies there.. but reality will prevail.
For all it's faults, the US has integrated immigrants very well.
//Would not immigration take care of some of the low birth rates in Europe?//
The irony of 'this american life' telling stories of british thugs beating up homeless people (in london), ending up in bureaucratic psychological hell. i heard that one the other day.
Josap:
Most of my family is still in the EU. They do a very poor job if assimilating immigrants over there. I don't think that immigration is the answer. Actually, the US is probably the best place in the world for assimilating immigrants. Look at me: first generation, grew up speaking a foreign language at home, and indistinguishable from a 10th generation son of the american revolution.
Cutting 10 cords of wood at 80? Did he really use that much heat?
No about 75% of that - he 'saved' wood like he saved money. His last year of life he cut about five cords [six weeks before he died - I took some days off to help him, great time]... when he died he had about two years wood accumulated.
But it is cold in Minnesota in winter so you can go through a lot of wood.
BTW - tell your husband my father's doctors at Mayo attribute his living to mid-80s BECAUSE he split so much wood, tended such a large garden, blew his own snow, mowed his own yard. He had plenty of money to pay others to do it... but didn't. Meanwhile his buddies who only golfed died like flies in their 60s and 70s. There is a lesson there. FWIW I cut a cord this afternoon... and was shot all day afterward.
Look at me: first generation, grew up speaking a foreign language at home, and indistinguishable from a 10th generation son of the american revolution.
My grandparents came over from Greece. They did not encourage their children to speak Greek in America. When you're in America, you do as Americans do. My mother does not know the Greek language, unfortunately.
But I think that's changed with today's immigrants. Seems they bring their culture over with them.
Outsider,
The following have changed our rate of wear and tear.
1] Most jobs are sedentary or use a lot of safety gear.
2] We treat infections promptly and effectively.
3] We get far fewer infections (sewage treatment + clean drinking water + food safety regulations + refrigeration)
4] We treat conditions like hypertension far more effectively.
5] More non-invasive surgery (and it is cheaper)
6] Imaging. (again it is cheaper than not using it)
7] Less harmful surgical techniques.
8] Better understanding of what does not work or is fraudulent.
They will pay for it..
because nobody else will!
//They do a very poor job if assimilating immigrants over there//
FWIW I cut a cord this afternoon... and was shot all day afterward.
A cord in one day, at your age, is very impressive.
My g'mother who lived to 104 walked every day. Walked to the bus to get downtown, walked to the grocery store, etc. That and the olive oil I think contributed to her long life. She was no string bean either.
re: Broadmoor.
Poor sod.Its a pretty infamous holding place for infamous killers - Ian Brady of 1966 "Moors Murders" fame was held there; so is Peter Sutcliffe (1976-81 "Yorkshire Ripper") - one of the Kray brothers(1960s) ( the real life counterpart(?) to the Piranha Brothers in the Monty Python sketch) and so on..
-K
Outsider:
My parents came over from Greece. I learned English, of course, but we still spoke it at home quite a bit. This is fairly common with Greeks; the kids learn Greek and use it at home, but we never spoke Greek in public (except at church).
Nuke, there's nothing like lamb (or maybe souvlaki) at a Greek festival.
And my g'mother's rice pudding.... ahhhh....
DPJ’s Nakagawa Says Japan Should Diversify Reserves
DPJ’s Nakagawa Says Japan Should Diversify Reserves (Update2) - Bloomberg.com
By that, he means Japan should no longer send relatives of managers of Bank of Japan to Italy with shoddy briefcases. Instead, maybe a group dressed up as pandas....let's say Australia.
L. - One thing my MD relative (the ER guy, don't worry) always said was the reason people who live so long live so long is because they don't get sick.
Outsider,
I would also add that they don't get too sick, even if they get sick, at younger ages. In the pre-antibiotic era chronic and recurrent infections were very common.
But I think that's changed with today's immigrants. Seems they bring their culture over with them.
There were plenty of older immigrants that were slow to assimilate... my grandfather's family were all Norwegian... they emptied a village in Norway and came to America - most settled in the same town in SW Minnesota [on the prairie]... 63 families 62 of them were Norwegian - one family in town was german... they actually changed their name from something like Schmidt to the 'Germans' because everyone called them that anyway.
Point is everyone in town spoke Norwegian for a full generation after they landed in America... and why not? They had very little contact with anyone else. My grandfather didn't learn English until he went to school [first grade] he was born 20 years after the family settled there.
My wife's Norwegian father had the same experience - didn't learn English until first grade - originally spoke Norwegian in the home.
Yeah, L, in years past I would've been dead from childbirth w/o modern medicine. My husband would've been dead from his constant sinus infections. We would've been dead as doornails.
Now, is modern medicine a blessing or a curse?
That is a religious question..
//Now, is modern medicine a blessing or a curse?//
sorry, Rob, no seats for Bosox fans on the suddenly crowded Dodger bandwagon...
"Now, is modern medicine a blessing or a curse? "
neither, people just had more kids. they still do in places with very high infant mortality (central america, sub-saharan africa, etc).
Outsider,
The discovery of anti-microbials (antibiotics and synthetics) was largely driven by a non-profit motive effort - war related. Ayn Rand's characters would have never bothered looking for them. Nor would the MBAs or assorted CONmen that run modern companies.
If you are ever confronted with true believer in the "market" - a factual history of public health, vaccination and anti-microbial drug discovery can be used to shut them up real quickly.
dryfly, that's interesting. I guess it does depend on the immigrant. The fact that the whole town came over intact may have motivated them to hang onto their culture.
I think my other g'mother was norwegian. We have a family history book, I'll have to look that up.
both depends on circumstances
L - would you say that antibiotics are probably THE most important medical discovery of our time?
"this should begin any day now"
it began almost 20 years ago, but was put on pause by the oil bubble and euro expansion.
Its also much easier to stay in touch with the motherland with technology. After all, Netflix carries a solid collection of Bollywood and there's even some on On Demand.
"63 families 62 of them were Norwegian"
sounds like a genetic cesspool of inbreeding
what is this thing with ayn rand. i read some of her books, okay writer, nothing that i remember to start her own ecnomic whatever with. so whats up.
After sewage treatment, water chlorination and food safety/ refrigeration... Yes.
As far as drugs are concerned, anti-microbials have caused the single biggest increase in human lifespan by any class of drugs - Period!
//would you say that antibiotics are probably THE most important medical discovery of our time?//
gabyjan,
Ayn Rand's books == cult of simple minded people.
The joke is on all the peakenese who used last summer as a soapbox.
""L - would you say that antibiotics are probably THE most important medical discovery of our time? ""
What I recall reading was that the most important medical discovery was bacteria, and how NOT to poison the town's wells with garbage and effluent.
what is this thing with ayn rand. i read some of her books, okay writer, nothing that i remember to start her own ecnomic whatever with. so whats up.
She's kinda like Austrian Economics - a system so detached from reality that it can never actually be implemented, and therefore can never be disproven in practice, and therefore draws all kinds of malcontents looking for a silver bullet answer that doesn't exist.
"63 families 62 of them were Norwegian"
sounds like a genetic cesspool of inbreeding
Why Hollywood, surely you of all people would know that in Lake Wobegon
"all the women are strong, all the men are good-looking, and all the children are above average"
"cult of simple minded people. "
perhaps, but AG circa "gold and economic freedom" certainly seems much more prescient and credible than the later senile model.
but just out of curiousity, lucy, which part of that essay do you disagree with?
"all the children are above average"
especially in regards to incidents of microencephalitis
You know that greenpeace wanted/wants to ban chlorine. An element!
Now I am not saying that we should inhale a few wiffs of Cl2 gas everyday, but Chlorine is used in many process- including water chlorination.
The whole concept that a zero sum, every man for himself world can be anything more than a jungle populated by murderous monkeys in suits who spend every waking moment trying to steal from or murder their neighbours.
//which part of that essay do you disagree with?//
Actually, hollywood, I believe that the midwest has the highest SAT scores in the nation. I have to double check that, but I believe dryfly pointed that out a long time ago.
sounds like a genetic cesspool of inbreeding
Might to someone who doesn't know any better. There is PLENTY of genetic variety in a pool that large. If those 63 families stayed there 1000 years like easter island - maybe. But that isn't what happened in their world then or now.
FWIW towns like that to this day test higher than about anywhere in America... full of 30 plus ACTs and 1400 plus SATs. My kids all had 30 plus ACTs and weren't even the highest scores in their home room - let alone the school - not even close. Regular old public school out in the middle of nowhere too.
All descended from residents of cesspools.
personally i wish they had read thorne smith. topper was a banker,
what is this thing with ayn rand. i read some of her books, okay writer, nothing that i remember to start her own ecnomic whatever with. so whats up.
She's kinda like Austrian Economics - a system so detached from reality that it can never actually be implemented, and therefore can never be disproven in practice, and therefore draws all kinds of malcontents looking for a silver bullet answer that doesn't exist.
Sounds a bit like Keynsian economics where it always would have worked if we'd just tried spending a bit more. Seems to be a more pragmatic and less idealogic approach mixing pieces of multilevel approachs works the best.
"I believe that the midwest has the highest SAT scores in the nation."
i'm sure they're a pale shadow of the scores in the asian-american majority schools here.
but that wasn't my point. the inbreeding that came with 19th century midwestern life killed many of my aunts and uncles. there's nothing normal about any kind of a ghetto, whether or not it has sewage-filled alleys or big green fields and cows.
Meme-tracking and the Dynamics of the News Cycle
http://www.cs.cornell.edu/home/kleinber/kdd09-quotes.pdf
talks about MSM and blog interplay.
"All descended from residents of cesspools. "
as am I, thankfully only on one side. I also finished at a great college before I could legally drink. excess brains can be a nice side effect of inbreeding.
There you go, dryfly, you pointed out the SAT scores. I know I was really surprised to learn that. I would've thought for sure the northeast would have the highest scores. We do have some of the best colleges/univ in the NE.
"I would've thought for sure the northeast would have the highest scores."
no, but there is some consolation in having the highest property taxes, highest unemployment and oldest median age, right? though CA gives a run for the money on the second and AZ and FL might put up a fight in the last...
Um, hollywood, are you dissin my terrain here? Because whose state is now in unrelenting IOU land and whose state actually got their budget passed w/little harm?
c'mon, put up your dukes.
Smartest gal I ever met came from Three Rivers, Michigan. Where are you, Kathy?
"My philosophy, in essence, is the concept of man as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute."
--Ayn Rand, Atlas Shrugged
I agree with most of the statement, except for the line about "with his own happiness as the moral purpose of his life". I believe helping others, who share the same virtues (integrity, honesty, persistence, etc) as you, achieve self-actualization, is the big purpose in life.
There you go, dryfly, you pointed out the SAT scores. I know I was really surprised to learn that. I would've thought for sure the northeast would have the highest scores. We do have some of the best colleges/univ in the NE.
We send them out there - my daughter was one [RPI]... others in my family have gone to NYU, Harvard, Cornell, BU... me - I was a dummy... state uni all the way but turns out the program wasn't too shabby [Chem Engineering - U Minnesota].
I really am not 100% sure why the Upper Midwest does so well test score wise. Maybe if we had something better to do like surfing the kids wouldn't study so much.
As we all know dryfly, state univ's can have just as good of an education. And besides, when my daughter was applying to the ivies (and didn't get in), I was really surprised at the heavy party influence. Not that state doesn't have it, but I'd rather pay, well, $2K for a party school than, well, the ivy would've been free, but still.
Oh, I meant to tell you, it's not bio med, it's bio chem. I can't keep those majors straight. I stunk in science, I don't where mine got the science gene, not from my side anyway.
"c'mon, put up your dukes. "
Unless you're in a quaint little Rockefeller toy town like Woodstock, VT, New England is horrible. Is there a lower circle of hell than upstate New York? A worse job market?
CA is bad in terms of our disastrous political structure, but the property taxes of NY and NJ, bizarre local justice system especially in NY, cost of living in CT, provincial gangsterism of RI, truly obnoxious bearings of the MA townies...
The only region worse is the overpriced swamp known as the mid-atlantic.
I know all of the above regions quite well, thank you. And it is quite possible to live in CA and not invest a dime in the real estate here. Works for me.
Why would ivy leagues be any better? What do they know that the others do not?
//As we all know dryfly, state univ's can have just as good of an education.//
party is the number one subject in all colleges
2 advantages to the ivies - for us anyway.
1 FREE. (did I mention FREE?)
2 Reputation, as in getting a job or getting into med school or whatever.
That's all. Other than that, nothing.
Yes, but most seem to think that they are better.
//That's all. Other than that, nothing.//
Smartest gal I ever met came from Three Rivers, Michigan. Where are you, Kathy?
For me it was a gal from a one room school house in the Sandhills of Nebraska. Absolutely blew away the whole chem engineering class and was fast tracked into grad school. Her whole school K-12 never had more than 8 kids at one time. She finished her full K-12 curriculum by the time she was 12 and from that time on it was all independent study & also acting as 'teachers aide'. She frequently corrected the prof's during recitations and lecture. Unbelievable. Last I heard was doing grad work at U Penn.
Yes, but most seem to think that they are better.
The arrogance runs v-e-r-y strong. Big negative.
"Other than that, nothing. "
the chance to hang out with kids from all over the world is nice. unfortunately, they often are all from the same socioeconomic slice, just from 100 different nations. still, the average ivy probably beats CSU Bakersfield in terms of exposure to new and different ideas.
Gotsta love them lookers wit brains
dryfly she was lucky they let her fast track rather than keep her with her peers.
I am rather fond of New Hampshire. As for upstate NY, I currently live in Saratoga Springs. It is a gorgeous area, and the people are nice. The tax burden, however, is obscene. I plan to leave as soon as I am done with the Navy. Next stop, China or the Midwest (I haven't decided yet).
Last I heard was doing grad work at U Penn.
As my b-i-l always said, the flame flickers but it never dies.
I've known my husband since I was 16. So I've had experience in snuffing that flame on several occasions.
Still, you can't beat young love.
"The tax burden, however, is obscene."
And it isn't just the property tax rate and obscure origin of property taxes - it is the city and county govs that seem intent on one-upping the legacy of the five families. Almost like New York contains 30 different Sacramentos, with Albany outdoing even Sacto itself.
Many of my friends' parents from the region have been driven south in retirement.
Oh, I meant to tell you, it's not bio med, it's bio chem. I can't keep those majors straight. I stunk in science, I don't where mine got the science gene, not from my side anyway.
LOL - my wife feels the same way. She was an art major & married an engineer... so far of the three kids... one studying IT... one bio med engineer and one wanting to study physics/math [freshman next year - not sure he has the horse power to do physics/math its tougher than engineering - we'll see].
I started out pre-med then switched to biochem but finished chem engineering. Almost a full double major biochem & chem engineering. So did a bit of the 'science thing'.
CIT warns, bail us out . or ELSE.
CIT Group Says Its Failure Risks Demise of Customers (Update3) - Bloomberg.com
sounds familiar, am I the only one getting the déjà vu?
Here's some humor for you:
'Oh The Banker Man...He Rob You With A Pen' (Corruption Song)
'Oh The Banker Man...He Rob You With A Pen' (Corruption Song) - Home - The Daily Bail
No Alexis Glick In My Obamamobile (Song)
No Alexis Glick In My Obamamobile (Song By Mike Robinson) - Home - The Daily Bail
"You can buy a 2 year old Infiniti G37 and get almost identical performance for less than 25k."
those rich kids... this sound soooo LA : )
dryfly - my husband is an artist. I stink at art and I stink at science. Eldest kid is the science buff, middle is a computer buff, hopefully he'll go into IT but he's only going into 9th, and the youngest, she's a nothing-buff, but she sure is cute.
CIT warns, bail us out . or ELSE.
CIT Group Says Its Failure Risks Demise of Customers (Update3) - Bloomberg.com
sounds familiar, am I the only one getting the déjà vu?
You feeling lucky punk? Well are ya?
Nytol - gotta work tomorrow.
Actually, I should add that you have to self-actualize first, before helping others. Otherwise it's like blind leading the blind.
Next stop, China or the Midwest
Nuke, the thing that worries me about living in China is the communism thing. I'd be really nervous they might want to flex their muscles in ways I'd be uncomfortable with. Othewise, I would find that interesting.
"You feeling lucky punk? Well are ya?"
Can't count on Luck, it has always avoided me. I survive relying on patience and discipline. Now, someone please tell me, this war is going to end someday.
Yes we can! (good night you all, wish yo all the best, etc)
extra points, though, for helping others pre self-actualization.
nuke can you get visa to live in china? not tourist , longer?
"you have to self-actualize first"
must... resist... boomer même... must... resist...
"I really am not 100% sure why the Upper Midwest does so well test score wise."
my physics professor always blamed the weather; in there the weather is garbage, so all you can do is study... : )
@HollywoodHack
I thought hollywood movies are mostly about 'it's never too late to be what you could've been'?
You don't believe in it I take it.
I know a couple of engineers that got visas and moved to China. It doesn't seem that difficult. Also, my wife is Chinese, which should make some of the cultural adjustments easier.
Cultural, yeah. But what about political? And the future of the political?
They can't touch him. He's an American.
You didn't ask for more comedy, but here it is:
Celebrating The Bailouts: Wall Street Thanks You (Funny Or Die Clip)
Celebrating The Bailouts: Wall Street Thanks You (Funny Or Die Clip) - Home - The Daily Bail
@barfly
You're right. I mean "you should to self-actualize first"
"You don't believe in it I take it. "
actually, the don simpson model has two characteristics, the first of which is inviolable:
"the character triumphs despite not learning a damn thing or changing in any appreciable way"
But the three act structure says that the character must
And usually around 1:30 minutes in.
well, of course, the ONLY exemption to #1 occurs in a particularly dramatic way involving #2, namely, the director, cinematographer, pyro guy and CG monkeys.
self-actualization is a process that happens through gaining experience. You can't study for it
(edit) the most you can do is try to remain open to the possibility..
China and the US are both corrupt. The difference is in the scale. In China, corruption exists on the retail level. Most low level interactions with government require some type of bribery (getting a driver's license, building permit, etc). In some ways, this is very convenient; I would rather give the clerk 20 Yuan than wait in line all day for the right paperwork. Higher level corruption, although common, is often punished swiftly and brutally. In the US, retail level corruption is very rare. In NYS, that means wasting days at the various local government agencies that have insinuated themselves into every facet of everyday life. The higher level corruption is tolerated and then rewarded with appointments to the Treasury department.
The Chinese also know how to cope with hardship. This depression will not be much of a change for most of the population. In the US, we have 2 generations that have known little hardships or adversity. God knows how they will react to 10%+ unemployment for an extended period of time. I think that irrational outbursts are more likely here than over there.
Nuke (profile) wrote on Sun, 7/12/2009 - 11:43 pm
reply ignore user
I know a couple of engineers that got visas and moved to China. It doesn't seem that difficult. Also, my wife is Chinese, which should make some of the cultural adjustments easier.
I would recommend taking an extended vacation there to see how well you adjust.
The first time we went to Asia we went to Hong Kong but not China and I found Hong Kong pretty busy. The second time we went to Hong Kong after 3 weeks in Beijing and Hong Kong felt amazingly laid back after China.
We tend to slum it a little bit when we travel and Beijing is the first place where I'd ever been that I would have paid for for a high end hotel just to get away from the non stop bustle/ action. But we were staying in local areas with very few foreigners as my inlaws still have an apartment there.
It can also appear to be a real dog eat dog world in the big cities. My wife grew up in Beijing and doesn't truly know whether she could get used to the lifestyle again.
If you keep your nose clean and don't get publicly involved in politics you shouldn't have any issues as a foreigner with communism.
Nationalistic feelings during economic upheaval would be much more likely to cause problems for foreigners IMO ( especially if you are a visibly non-white foreigner)
i agree with you about how spoiled we are and how braty we are going to be when it dawns on us that we cant party anymore.
as for the bribery i agree with that too but i was shocked totally shocked to find out that man didnt work for immigration in manila and i and my 3year old daughter had overstayed three months. oops. looking back that is nothing, piddle little stuff compared to what been/being done now.
Orwells Fargo clone:
MAN SUES HIMSELF FOR $8 MILLION | Weekly World News
POIC:
That is actually the plan. My trips over there have been relatively brief so far. Next year the wife and I are going to spend a month in the PRC. We will spend most of our time in her home province (Fujian) with trips to Shanghai. It will be a good opportunity to try and live as a local and see how I like it. I haven't committed to anything yet, and I can always go back to my beloved Midwest (or what's left of it).
Europe will offer an interesting preview of demographic induced economic collapse. Will very low birth rates and overly generous pension obligations, it is all but certain. Eastern Europe will go first, followed by the Med states. If CIA world factbook is accurate with their demographic stats, this should begin any day now. We will follow a couple decades later.
.
Really fascinating but what's odd is Japan.
Their demographics are "worse" than Europe's, their debt-to-GDP is out of sight,
and the Yen ... is strong and getting stronger.
The most expensive place to live in the WORLD is Tokyo.
.
I do not understand how these facts can co-exist in the present. So I sure don't know where the future is headed.
i live in the east bay, and i havent really noticed that .at all.
"I do not understand how these facts can co-exist in the present."
aging demographics could logically lead to a very strong currency and very weak equities market, especially in a nation of compulsive savers. and tokyo may seem expensive now, but RE there is a tiny fraction of what it cost 18 years ago.
@squidward
I'll be in Tokyo in 2 months; I'll report back. I am only paying $500/month for rent in Tokyo though.
squidward do you link to debt to gdp ? the one i have is 2008 (latest)
I think most of the reason that the midwest tests better on the SAT is 2 things really.
First off in the midwestern schools the ACT is used a lot more. So people who take the SATs tend to be applying for the very highly ranked colleges who take the SAT (and usually are the better students).
I grew up in CA, and no one here takes the ACT.
That said, the other thing is that most imigrants live on the coasts. You still take the SAT anyway and it kills the average on the verbal scores.
So I wouldn't say that the midwest is say genetically superior or anything its just the test is in english. That and the skew of SAT taking for people who want to go to say ivy league schools probably pushes the midwest average up since most people take the ACT in the midwest.
Nothing IF you can time it right. Fact is most can't and the skew is toward the side of running out of money LONG before you run out of years. That is when you burden the next generation [either direct family or 'society' as a whole.
Don't the Japanese have 60 or 100 year mortgages ie you die and pass it on to your descendants? With the property market having declined for 20 years that has to really bite the next generation. ie I give my son my 1 bedroom apartment AND the remaining 83 year mortgage!
gabyjan - not really. Google news gives
Fitch to Keep Japan’s Debt Rating Even as Fiscal Goal Abandoned - Bloomberg.com
“Japan’s government debt versus GDP ratio is much higher than those of any other country, including the U.S. and U.K.,” McCormack said. Fitch forecasts Japan’s public debt will reach 200 percent of GDP by 2010; the U.S. burden will climb to about 90 percent and the U.K. will reach 80 percent, he said.
this is where we plug this for the umpteenth time:
Amazon.com: Dogs and Demons: Tales from the Dark Side of Japan (9780809039432): Alex Kerr: Books
yet another perspective that bernanke, geithner, summers, and the big O himself are too ignorant to have absorbed
Thanks for the rec, HollywoodHack. I'll have to pick one up to read it before I leave for Tokyo
my pleasure.
wonder if we'll see natgas under 3 this week... quite a bargain for the dead-ender inflationistas still among us
Really fascinating but what's odd is Japan.
Their demographics are "worse" than Europe's, their debt-to-GDP is out of sight,
and the Yen ... is strong and getting stronger.
The most expensive place to live in the WORLD is Tokyo.
.
I do not understand how these facts can co-exist in the present. So I sure don't know where the future is headed.
Is this not simply the unwind of the so called carry trade? ie Japanese invest in other currencies with higher interest rates - but now with ZIRP all around the world and a revised view of default risk they unwind their trades and bring the yen home?
Another possibility is people using Yen as an alternative save haven currency to the US$ or Euro...
thanks squidward i guess cia will put new one out after 9-30-09. i like their world fact book.
yes and yes IMO
SAT score==Academic FICO score
hans, you are correct that almost no one takes the SAT in the midwest. It's only the top students who are aiming for fancy out-of-state colleges who do. I would know, because I went to public school in one of those midwestern states that are so proud of their SAT scores. 95% of the kids only took the ACT, so I don't think it means a lot that the 5 kids who were gunning for valedictorian took the SAT and did well. My school was still an utterly crap school, as were most other schools in that state. Check out the participation rates here, and you'll see that Minnesota, Iowa, Illinois, the Dakotas, etc., all have single-digit participation rates: SAT scores by state - USATODAY.com
hollywoodhack
what was that thing about them running out of shares?
Scorched Earth -
Is this not simply the unwind of the so called carry trade? ie Japanese invest in other currencies with higher interest rates - but now with ZIRP all around the world and a revised view of default risk they unwind their trades and bring the yen home?
Maybe, I don't know.
Can forex be dominated by "Japanese investing in other currencies" when the Japanese are the most indebted?
Another possibility is people using Yen as an alternative save haven currency to the US$ or Euro...
Why would it be a safe haven if Japan has the worst debt and worst demographics?
yes, the UNG thing - well, it is logical that some of these popular new-fangled ETFs might have some issues maintaining their synthetic positions in the context of a finite real market for such goods. as long as they effectively track the BTU chicago price, I don't see it as a relevant issue. it just means that they are limited in their ability to keep up with demand, which is probably a sign that ETFs like UNG (and GLD, DBA, USO etc) are actually staying honest in terms of having legitimate claims on the commodities they purport to represent.
that's just my takeaway, they seem to track the comex/nymex price pretty well in any case.
i'm just happy i own less than 200 shares and they're under $15 as an entry - what a bloodbath. still, i'll step up and triple down if the price is right. natgas is the future.
"Why would it be a safe haven if Japan has the worst debt and worst demographics? "
because that debt is at a microscopic interest rate and it is still the greatest export nation in the world, emphatically so now that germany is caught in bed with housing-drunk spain, ireland, greece, etc.
"Why would it be a safe haven if Japan has the worst debt and worst demographics? "
Good question. Maybe
1.) It went into recession way earlier in 1990. So people think it'll emerge out of recession sooner than other countries.
2.) Despite the large public debt, Japanese households have one of the highest personal wealth savings in the world.
3.) Japan/Germany keenly remembers the hardship from not so long ago. Being the losing country in WWII probably magnified that. Most Japanese households have stored grains, close relationship with their community, respect for the farmers (except during the boom days in Tokyo where the farmers in Tokyo got to not pay huge taxes)
4.) It has the one of the highest standard of living in the world. and it's still #3 in the world in terms of GDP
I walked into the bar around 10pm and saw three customers. The bartender chick confirms that most places are now closed on Sunday nights and she was suppose to close after 10pm if she has less than ten customers. But she's not in a hurry and could use the hours so I play some pool until 12:00pm with a South Seas Islander kid wearing a "SoCal' t-shirt who sings along to Country Western tunes.
Then I walk him home because I'm already headed that way and he seems a little too drunk to be left alone.
Damn.
I probably have to drive into Boise proper to get any Sunday night pool action now.
@broward
Maybe you need to let them win sometimes
then they'll come back.
Scrooge - I especially like your #4.
So maybe bad debt & bad demographics aren't so bad?
broward,
I posted a link to a recent paper about memes, news and blogs in this thread
Meme-tracking and the Dynamics of the News Cycle
http://www.cs.cornell.edu/home/kleinber/kdd09-quotes.pdf
talks about MSM and blog interplay.
Well, eventually the demographic will be an issue. But I suppose that's why they have robots
Although they're getting laid off too
Japan lay off robots
Robots Unplugged - NY Times
must... resist... boomer même... must... resist...
I just can't see why you're so upset with Boomers.
You're going to outlive virtually all of them.
g' nytol
Meme-tracking and the Dynamics of the News Cycle
The big change in this technology cycle is the speed and accuracy of the feedback cycle and the incredible granularity of what can be tracked. I was thinking about old-style advertising yesterday and I realized that it was a coarse and blunt tool in the television age, and determining its effectiveness was difficult.
I think the granularity and traceability imply that advertising has to truly be advertising, i.e. something relevant to the target audience instead of something that can be force-fed down the customer's throat.
The days of force feeding people conformity (like the enforced hilarity of the 1950s) is gone.
//something relevant to the target audience instead of something that can be force-fed down the customer's throat.//
But they don't want to admit it.
//The big change in this technology cycle is the speed and accuracy of the feedback cycle and the incredible granularity of what can be tracked.///
@squidward Maybe, I don't know.
Can forex be dominated by "Japanese investing in other currencies" when the Japanese are the most indebted?
I think it is purely a relative thing occurring currently ie Japanese investors are repatriating more of their money homewards. I have no idea what percentage they make up of global currency investing but as an Aussie I do know they have been extremely important for many corporates here. For many years it was a great trade - convert yen to Aussie invest in Gov bonds or corporate bonds with relatively high yields and then watch the Aussie dollar move north generating capital gains into the bargain. A lot of people even borrowed yen to leverage up the returns, probably with drastic results when it went pear shaped from mid 2008...
Even though Japan is heavily indebted, it might look better than either US or Europe as a safe haven. At least they have experienced deflation already, I mean their property assets will probably keep sliding but have already been falling for two decades!...in addition the people are amazing savers. The comments here suggest that the US and Europe (maybe 1-2 years behind) is entering a serious downturn with possible societal dislocationary effects, as a relative bet on one of the Big 3 currencies Yen seems better able to hold its value.
The meme-tracking paper is interesting. I knew it was only a matter of time before somebody with a substantial math background got into it. They're still focused on quantification rather than manipulation, though. It's likely that the Internet will differentiate over the next few years as an auto-immune response to manipulation, I think it's already happening when you look at censorship trends.
What's really interesting is what doesn't happen, the dead spots.
4.) It has the one of the highest standard of living in the world. and it's still #3 in the world in terms of GDP
I can echo that having been to Japan many times when living in Asia. One of my German mates put it succinctly - "Japan works." The train system is unbelievable, people do not even talk loudly in the carriages so that other travellers may sleep in peace. The place is extremely clean I watched many different groups collecting their rubbish from the train once it reached the destination and carrying outside to specially marked bins. However living space is at a premium and apartments are tiny.
broward: It's likely that the Internet will differentiate over the next few years as an auto-immune response to manipulation, I think it's already happening when you look at censorship trends.
If I understand you correctly, then, John Gilmore's law or observation is still in effect: “The Net interprets censorship as damage and routes around it."
I continue to be impressed with the sheer number of communication methods, from voice inside video games to text inside everything, to skype over wifi smartphones on public LANs to everything inside everything else, and the proliferation of useful tunneling tools.
It's hard to keep a good packet down.
Regarding Japanese debt to GDP, the figure quoted above was government debt only. I think if you include all debt (personal, corporate, and government), the U.S. is the undisputed champion. Were #1!
And after pondering it for a while, I think total debt is the one that really matters.
NervousRex (profile) wrote on Mon, 7/13/2009 - 2:42 am
If I understand you correctly, then, John Gilmore's law or observation is still in effect: “The Net interprets censorship as damage and routes around it."
The 5-0 is trying VERY HARD to bring the nation state to cyberspace. They REALLY cannot deal with the fact that it isn't geographically coincident with the actors, and being modern police, everything that is not actively subject to their surveillance and control "outside the wire" / "red territory".
I think the nation-state as we know it is passing away in the modern era, but we'll still see lots of walled gardens springing up in the net over the next few years and lots of people persecuted. You can see it in the way the international LEO community is lining up to trot out the terrors of free speech on the American internet and how we're "our own worst enemy supporting fundie muslim websites" (for domestic consumption to whip up the Fox Friends) / "global bastion of hate speech" (for foreign first world consumption, playing on the image of us as white supremacist yokels).
It's a big deal -- the net is antagonizing a lot of established power structures, specially information distribution monopolies, and they are trying very hard to silence the free voices of the world and make the anonymous wags of the internet either have to join established power hierarchies or be criminalized. The global lie that there was a "true" accepted media narrative with clearly delineated truth and falsehood, white and black hats, is coming apart and a lot of people see their grip on power eroding as a result.
“The Net interprets censorship as damage and routes around it."
No, the opposite. Nations are moving towards controlled versions of the Internet. Italy, Australia.
Be careful not to confuse communication method with content or ubiquity.
There were always alternative media in the U.S. but the great majority of people chose to watch television and read newspapers.
There are strong social forces towards a certain level of conformity, which I'm sure the longer-term CR readers can talk about.
The governments don't have to make their communication channels bullet-proof, only a socially preferred choice.
I was putting together a presentation for Defcon 17 but I bailed out on it.
Here's a listing of "internet differentation" links that I compiled for the presentation.
The theory that "information routes around damage" is a simplistic idea from the early days of the Internet when it was far more Libertarian.
It may be technically correct but it is socially wrong.
As you've seen day in and day out during the Credit Crisis, people do not WANT the truth.
They want to be comforted and they want to fit in to the social norm.
http://www.realmeme.com/roller/page/realmeme/?entry=marginal_utility
Mental Saturation
Islamic Strategy For Facebook
Chinese Spin Doctors
The Power Of PR
Astro-turfing
Disruptive Techniques
Australia Proposed Censorship
Italian Proposed Censorship
Japan Proposed Censorship
Possible U.S. Censorship
Surveillance Laws In India
Wiki Restrictions
"As you've seen day in and day out during the Credit Crisis, people do not WANT the truth."
Hallelujah.
broward (homepage, profile) wrote on Mon, 7/13/2009 - 6:23 am
The governments don't have to make their communication channels bullet-proof, only a socially preferred choice.
I think you have a particularly defeatist attitude, in that I think in a bygone era you might be talking about how nobody would ever be able to seriously dispute the nature of divine right to a popular audience. The real basis of the previous regime of intellectual content was the one->many, capital-intensive, limited-station nature of television & radio broadcast media, and I think that is gone forever. You will see a lot of effort at establishing "defined channels" and a lot of people may die or go to prison over it, but you won't get the cat back into the bag. It's ultimately geezer-placation, like the War on Minorities, err, pardon me, Drugs, here in America.
There are a lot of hacked-off power structures, cops, media and corporate interests are all offended by the architecture of the modern internet, but I don't think you're going to see a viable replacement to the data architecture, just the almight dying struggle of a foundering monoculture drowning in information.
I think you have a particularly defeatist attitude,
That's a compliment coming from you.
I watched Waco burn, I know what happened there and I know how the American people reacted.
The great majority of people don't want to be bothered with hard truths which may disrupt their lives.
That's not a defeatist attitude, it's a proven fact.
It's easy to confuse technology with behavior.
How a bit or byte is delivered doesn't change human behavior.
I won't disupte that the interactive nature of the Internet can't be replaced.
But I dispute that it matters.
broward (homepage, profile) wrote on Mon, 7/13/2009 - 6:29 am
As you've seen day in and day out during the Credit Crisis, people do not WANT the truth.
They want to be comforted and they want to fit in to the social norm.
I think you're just alienated from the human race and it's coloring your judgement.
People have all sorts of opinions at the street level. The paid shills certainly clap when told to clap and continue clapping until the green light goes out but I think there's no coherent yearning to have a media mononarrative circa 1978, outside of people who are cops and news anchors. Especially in America, the post-9/11 festival of braying patriotic ninnydom is going to poison the well for at least another five years, and probably another decade, by which point this will all be a fading historic irrelevancy. They really need to harmonize the architecture cross-borders or it'll be arbed, and I think that is particularly doomed, given how global industrialization and Basel II turned out.
I think you're just alienated from the human race and it's coloring your judgement.
hahahahah.
And I think that you need to believe that it's all about me.
I think you will see a successful continuation of the correlation of people with IP addresses, and people with places and other people, and IP addresses with each other, and ideas with people and IP addresses, and clouds and clouds of accountability layered in that space. This is ultimately more threatening to me than some third rate bureaucrat in a country with two T3's and some firewall rules.
At some point I suspect you will not be able to utter any peep that is not allowed without paying some immediate consequence. We are a decade closer to this now than I expected in 1995. At some layers of this civilization this accountability mapping exists now. With cell-phones the correlation is nearly complete. I suppose someone runs some nifty trellised word-spotting on the whole hairball in addition to archiving it for later data-mining.
When this accountability mapping dribbles into the civil space we will need a new medium to continue this conversation. We might even have to revert to stories told over a fire and handshake agreements.
Come on, BR, you watched it, right here on CR.
You can see it still in the "green shoots" stuff.
Will people rise up and do something about it?
Possible but that's not a function of technology.
There was no Internet during the Kent State riots.
someone runs some nifty trellised word-spotting on the whole hairball in addition to archiving it for later data-mining.
Damn it.
I've been outed.
broward (homepage, profile) wrote on Mon, 7/13/2009 - 6:47 am
And I think that you need to believe that it's all about me.
Believe what you want, I have been watching the ebb and flow of this game for about 20 years now. There ain't no great white hope for the media mononarrative, it's too co-opted and produces too much information that obviously conflicts with reality. If "green shoots" had actually turned the economy around, or if there had been nuclear weapons in Iraq, it would be different, but there is no way arguments for a 'responsible internet' are going to get the kind of serious long-term traction they need to make them stick. I see the argument and the trend, I just don't think the context supports the maturation.
NervousRex (profile) wrote on Mon, 7/13/2009 - 6:48 am
At some point I suspect you will not be able to utter any peep that is not allowed without paying some immediate consequence. We are a decade closer to this now than I expected in 1995. At some layers of this civilization this accountability mapping exists now.
The thing to remember about this is that the attitude that sponsors it is one and the same as the attitude that is killing your society. As it comes to maturation, the ability to enforce the results will decline precipitously. Control states are not productive places, and this is not merely based on the effort expended at establishing and maintaining control, but on the context that status produces. There's a reason prison labor performs simple industrial tasks and doesn't, for example, design aerospace vehicles.
Kent State struck a nerve.
No, no internet. Only Village Voice and Dick Gregory to fend off the MSMedia machine. Enough, though, to drive a wedge between the great generation and their offspring. And also, a year later, one of the finest moments in the New Yorker's history, Philip Hamburger's "Aftermath", June 5, 1971. Which NYer archives online as abstract only.
edit: If you can find the complete article, it should put paid to any impulse to characterize 1970 as a simpler time.
Technology is an easy placebo. I realized after working for an Indian company the real miracle of Gandhi's achievements. And he did it without technology.
Models are abstractions of concrete structures. By definition, they hide and distort details. Like filters, models create discontinuity in perception. Understand the distortion of a model to apply the Mixed Message Pattern as a wedge into the contradiction between model and reality. If discordance is great enough, it is a lever to move the model and create change.
This is what Gandhi did.
He grasped the model.
Stumbled upon the discordance between model and reality.
Identified the leverage between them.
And then pushed it.
This is amazing.
Reality is always more complex than our perception of it. We always think in stereotypes and abstractions. Therefore, discordance always exists, somewhere. The trick is finding the greatest discordance and leveraging it.
Randomly.
Agreed wholeheartedly BR in the self-limiting aspects of control states. As a personal note, if we've actually reached the point where these inefficiencies are broadly manifest it is too late to do much useful, and (probably past) time to hide. As it is I have convinced myself there are myriad widely beneficial tasks to attend to now.
Multicast and unicast and point-to-point (edit) will continue to steal bandwidth and importance from broadcast unless there are limits of some sort imposed on them.
We use broadcast TeeVee as a source of humor around this house, and not much more.
Broward, your work is right there and I'm reading more all the time. Much appreciation.
There is the model - The Law.
There is the reality - how officers enforce The Law.
There is the discordance - what society believes about The Law and itself versus the Reality.
What is our cultural discordance, BR?
What is the model and the reality it models that fail?
What do we believe that isn't true?
One more thought about control societies in this context.
It is drastically easier to control electrons than paper and people. It is no longer necessary to assign N police per target to get good surveillance coverage (edit: as it was for the Soviets, and to store and process vast paper). It's just a very slight incremental cost over the baseline technology per person. E-911 will do it for you, along with data-mined correlated peer matching so you can track important peers.
The cost of surveillance, at least, will approximate zero. Then the practical inhibition to the control society (other than laws or customs of course) must be the cost of controlling a citizen. If that asymptotically approaches zero then you're down to laws and customs as the only limit to complete control.
That is where my speculation will end. Hoping for the best.
NervousRex (profile) wrote on Mon, 7/13/2009 - 7:15 am
Agreed wholeheartedly BR in the self-limiting aspects of control states. As a personal note, if we've actually reached the point where these inefficiencies are broadly manifest it is too late to do much useful, and (probably past) time to hide. As it is I have convinced myself there are myriad widely beneficial tasks to attend to now.
Just IMO, but, Babylon fell. You should do whatever you think you need to do. I'm here having fun because I think I'm precisely small enough to avoid squashing and precisely loud enough to needle the responsible parties. If you aren't here to point and laugh at the wicked weeping for their gold, you probably have better things to be doing.
Talk them to death, Timmy.
RIYADH/LONDON (Reuters) - Treasury Secretary Timothy Geithner will seek to reassure Gulf Arab states this week that U.S. dollar assets they hold in large quantities remain a strong investment.
A recent decline in Saudi foreign assets shows the purchase of U.S. treasuries by Washington's Gulf allies, five having currencies pegged to the dollar, at levels seen in the past decades should no longer be taken for granted.
The day is drawing closer when the USD is NO LONGER the reserve currency, IMO.
--Morning all.
good morning
oh that not good he is going around the world telling people its good ,everything fine, really....
changed mind
"New England is horrible. Is there a lower circle of hell than upstate New York?"
Spoken like a true provincial.
Maybe the wealthy foreigners will save our eCONomy.
or not.
Visas for Foreign Retirees Could Be a Boon - CBS Evening News - CBS News
CBS) The immigration debate in the United States isn't just about how many men and women seeking jobs to allow into the country.
If supporters of a new kind of visa get their way, the U.S. could soon be welcoming retirees who don't want jobs at all - just a place to spend their money, as CBS News correspondent Kelly Cobiella reports.
bring them own and let them spend. bring back the illegals give them social security card, and green card (no citizenship) at the borders we need the money.
thats bring them on....
Bernanke Babble:
Bernanke May Explain Fed Exit Strategy in Testimony Next Week - Bloomberg.com
July 13 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke probably will show how the central bank will exit the biggest monetary expansion in history when he reports to Congress next week, economists said.
This I have to hear...
Is there a lower circle of hell than upstate New York? A worse job market?
If Upstate NY is so hellish, then why do so many "post-apocalyptic" TV shows and movies paint it as the green and pleasant promised land that everyone tries to escape to after the world blows up? Damnation Alley (Albany, NY). Jericho (Rome NY one of the six remaining seats of government). The recent ABC scarefest Earth 2100 ends in idyllic upstate NY.
The real idiots are the ones who assume that a "great job market" will be important in the next 50 years.
Skyin' 'em now, boss
Rex,
TPTB want TOTAL INFORMATIONAL AWARENESS; as I'm sure you know.
Information Awareness Office - Wikipedia, the free encyclopedia
The idea of total informational awareness is completely the opposite of our ideal of freedom.
But this is America, and something like the Stasi could never go on here.
//snark off//
this isnt part of some war game is it?
no they wouldnt do that, would they? it cant be. can it
Morning all from the Marynam. Looks like a week for Judge Dredd memes. Block wars, maybe.
Ooooweee java. With chili chocolate.
C
"We had to destroy freedom in order to save it"
I AM THE LAW!
YouTube - Anthrax - I Am The Law
This is for you, C.
US futures well kermit, Stoxx50 spiking, USD appr against Asia regionals while equities took a bath.
All makes perfect sense.
C
All makes perfect sense.
Well, it's easy, if you know what GS's book is.
Bank of America Said to Balk at Paying Fee to U.S. for Backstop
Regulators contend Bank of America owes at least part of a $4 billion fee it agreed to pay in January -- even without a completed legal document -- because the company benefited from implied U.S. backing on about $118 billion of Merrill Lynch assets, such as mortgage-backed bonds, people familiar with the matter said. The Charlotte, North Carolina-based bank says it owes the Treasury nothing, according to the people, who declined to be identified because the negotiations are confidential.
“It’s the fault of the government for never getting it signed,” said Townsend, whose firm doesn’t own shares of the bank. “But part of the inherent unfairness in dealing with government is that they can manipulate all kinds of things to make your life hellish.”
Yeah, just ask the people short BoA.
SPX..... 920, today!
eric is the name of gs 's book
WE WANT IT ALL!
curious
boa is a nc bank and it along with walk over you and to a certain extent bbt and they are evil.
Everyday, it seems, America looks more an more like some third world Banana Republic.
Bananas are so passe. Services Republic will soon enough have the same connotation.
Ok, gotta run to the transporters, see you on the workin lurkin.
C
America looks more an more like some third world Banana Republic.
You sound like you're not proud that you financed GS's return to greatness.
Hater.
eric
"return to greatness?
"return to greatness?
Blowout quarter, great year, huge bonuses..... stock from $60 -> $150..... what's not to like.
(Assuming they can pay out before TSHTF, of course).
interesting and thank you
oh did anyone ever figure out who put sell puts on united and american in 01
or sell puts on bearsterns or lehman?
just wondering.
Eric,
Put me firmly in the GS' hater column.
Seems the Financial Mafia has busted the US out.
Hey, is that a Bazooka in your pocket, Hank?
Just the fact that all financial services are a net cost, creating no value but rather extracting it from the real economy - and the current situation fo having the banking sector try and earn its way out of insolvency guarantees an enormous resource drain that will deepen and prolong the downturn for main street.
But other than that it's all good - except maybe for the frontrunning thing - but that is an IB making coin the old fahsioned way...
wasnt ....the old fashioned way.. merrell?
DPJ’s Nakagawa Says Japan Should Diversify Reserves
Japan’s opposition party, leading in polls ahead of next month’s election, said the nation should consider shifting its $1 trillion of foreign reserves away from the dollar and buying International Monetary Fund bonds.
Change is coming?
laters people dont want to get cr in trouble. or myself
So we've got the following nations publicly declaring a desire to move away from the USD:
Did I miss any?
wasnt ....the old fashioned way.. merrell?
Smith Barney.
"josap (profile) wrote on Mon, 7/13/2009 - 1:10 am .
The gas tank consumer mesurement.
$20.00 per tank, life is ok.
$30.00 per tank, life is getting costly.
$40.00 per tank, life is hard.
$50.00 per tank, life is not possible as we know it.
(based on a 12 gal tank)"
LOL. I drive a small sedan, and I have to chuckle just a little bit when I pull up tot he gas pump right after a big SUV, and see $75.xx on the sale price. Ouch!
"
Outsider (profile) wrote on Mon, 7/13/2009 - 1:12 am
Not only are gasoline prices falling, but mortgage rates are falling. That's good news. For re-fi's."
Good news immediately, but in the long haul, it's just another indicator that the economy is cratering.
HG: India?
I'll add it to the "USD will never lose reserve currency status" list.
" Outsider (profile) wrote on Mon, 7/13/2009 - 1:18 am
When my grandfather retired from his luncheonette in the 1960s, he had amassed $30K - a small fortune.
Of course, he lived to 95, my grandmother to 104. And when he went into the nursing home, they took it all anyway.
No matter how much the elderly have "saved", it's not gonna last long."
Correct! You definitely want to be broke BEFORE you go to a nursing home. On of my grandmothers was screwed like that, and my uncles (her sons) have been careful to make sure that much of their estates has been quietly over time passed along to their kids to avoid them same. My Mom still thinks she can take it with her. Oh well.....
JPMorgan is loaning Air India $1-billion to buy 10-new jets. Money from the billions they received in the TARP. It's also GUARANTEED by the US? (US taxpayers) Was THAT part of TARP also - monies going to bailout other countries as well? (Air India is owned by NACIL - The Indian Government)
Indian national airline raising $1 bln loan - report
| Business News
| Reuters
Yes it is BSR.

It's called Fascism and I'm afraid we had better get used to it.
BTW, Mrs. Gnome has a new post up.
Morning HomeG..........how was dinner with "Elizabeth" Saturday nite?
(Hmmmmmm.......I used to do that kinda stuff when I was younger)
........thnx, Home.......I need to stop visiting the site before breakfast.
No muffins on Sat. night, BSR.
LOL.......
byz said
The global lie that there was a "true" accepted media narrative with clearly delineated truth and falsehood, white and black hats, is coming apart and a lot of people see their grip on power eroding as a result.
the true and accepted media narrators are being harassed by their bosses to somehow claw back circulation (their grip on power)
and to get in tune with the shift to the internet
watch out, we may come to the dark side