Caught on radio
Most interesting
Living on Earth: Alien Life on Earth
"Strange life forms don't have to be the domain of distant planets and old Star Trek episodes. Astro-biologist Paul Davies says life as we don't know it might already exist in our own backyard. Davies talks with host Bruce Gellerman about the possibility of life on Earth evolving more than once, and about why scientists should launch a "mission to Earth" to find alien life."
Monday, March 30, 2009
Friday, March 27, 2009
Wednesday, March 25, 2009
More on news vs newspapers
Following this
Looney Dunes: Good read on change in news
Clay Shirky tackles the issue, with some more looking back (to Gutenberg):
Newspapers and Thinking the Unthinkable
Looney Dunes: Good read on change in news
Clay Shirky tackles the issue, with some more looking back (to Gutenberg):
Newspapers and Thinking the Unthinkable
Response to the witch-hunt
One senior AIG exec's response to Congress and NY and CT AG's attacks
Op-Ed Contributor - Dear A.I.G., I Quit! - NYTimes.com
"So what am I to do? There’s no easy answer. I know that because of hard work I have benefited more than most during the economic boom and have saved enough that my family is unlikely to suffer devastating losses during the current bust. Some might argue that members of my profession have been overpaid, and I wouldn’t disagree.
That is why I have decided to donate 100 percent of the effective after-tax proceeds of my retention payment directly to organizations that are helping people who are suffering from the global downturn. This is not a tax-deduction gimmick; I simply believe that I at least deserve to dictate how my earnings are spent, and do not want to see them disappear back into the obscurity of A.I.G.’s or the federal government’s budget. Our earnings have caused such a distraction for so many from the more pressing issues our country faces, and I would like to see my share of it benefit those truly in need."
Op-Ed Contributor - Dear A.I.G., I Quit! - NYTimes.com
"So what am I to do? There’s no easy answer. I know that because of hard work I have benefited more than most during the economic boom and have saved enough that my family is unlikely to suffer devastating losses during the current bust. Some might argue that members of my profession have been overpaid, and I wouldn’t disagree.
That is why I have decided to donate 100 percent of the effective after-tax proceeds of my retention payment directly to organizations that are helping people who are suffering from the global downturn. This is not a tax-deduction gimmick; I simply believe that I at least deserve to dictate how my earnings are spent, and do not want to see them disappear back into the obscurity of A.I.G.’s or the federal government’s budget. Our earnings have caused such a distraction for so many from the more pressing issues our country faces, and I would like to see my share of it benefit those truly in need."
Tuesday, March 24, 2009
View that there is a fight brewing
Exxon vs. the Obama Administration - Portfolio.com:
"The biggest oil company in the world is also the most resistant to the shift to green energy. The White House seems determined to make Exxon Mobil’s life miserable."
"The biggest oil company in the world is also the most resistant to the shift to green energy. The White House seems determined to make Exxon Mobil’s life miserable."
Party Boy Prognosticator
Profile of NYU Economist Roubini - Portfolio.com:
"Life is good for New York University’s party-boy economist. Once regarded as a crank, he has parlayed his now-accurate predictions of an economic bust into fame, rising fortune, and a vigorous social life. But is the recession’s “Doctor Doom” just a one-hit wonder?"
"Life is good for New York University’s party-boy economist. Once regarded as a crank, he has parlayed his now-accurate predictions of an economic bust into fame, rising fortune, and a vigorous social life. But is the recession’s “Doctor Doom” just a one-hit wonder?"
Next?
When rates are low, the only thing that can happen may be ... bad
The Way We Live Now - No Safety in Numbers - Are Treasury Bonds a Bubble That May Someday Burst? - NYTimes.com:
"Warren Buffett wrote: “When the financial history of this decade is written, it will surely speak of the Internet bubble of the late 1990s and the housing bubble of the early 2000s. But the U.S. Treasury bond bubble of late 2008 may be regarded as almost equally extraordinary.”"
Rates could go up ... and therefore bonds would go down.
The Way We Live Now - No Safety in Numbers - Are Treasury Bonds a Bubble That May Someday Burst? - NYTimes.com:
"Warren Buffett wrote: “When the financial history of this decade is written, it will surely speak of the Internet bubble of the late 1990s and the housing bubble of the early 2000s. But the U.S. Treasury bond bubble of late 2008 may be regarded as almost equally extraordinary.”"
Rates could go up ... and therefore bonds would go down.
Monday, March 23, 2009
Volcano watch
May portend cooler spring
The Associated Press: Alaska volcano Mount Redoubt erupts 3 times
Geologists at the Alaska Volcano Observatory say the volcano erupted three times late Sunday and early Monday, with the largest eruption sending a plume of smoke some 50,000 feet above sea level.
Tracking here :
Alaska Volcano Observatory - Activity
The Associated Press: Alaska volcano Mount Redoubt erupts 3 times
Geologists at the Alaska Volcano Observatory say the volcano erupted three times late Sunday and early Monday, with the largest eruption sending a plume of smoke some 50,000 feet above sea level.
Tracking here :
Alaska Volcano Observatory - Activity
Sunday, March 22, 2009
File under Duh
"Systems" work until they don't
Physicists Try to Predict Economy - Portfolio.com
"Consider financial derivatives, for example. It’s taken for granted by economists that derivatives make markets more stable. They are designed to give market participants more flexibility by allowing them to take highly specific market positions. But some economists—notably William Brock of the University of Wisconsin and colleagues—have suggested that this view may be backward. They are exploring the consequences of adding one rather obvious fact to standard economic models: that people learn as they participate in markets and may quickly copy other investment strategies if they seem to be working. The result is a pile-on that makes the initial strategy ineffective. Brock’s results show that such adaptive learning leads to derivatives actually destabilizing markets."
Physicists Try to Predict Economy - Portfolio.com
"Consider financial derivatives, for example. It’s taken for granted by economists that derivatives make markets more stable. They are designed to give market participants more flexibility by allowing them to take highly specific market positions. But some economists—notably William Brock of the University of Wisconsin and colleagues—have suggested that this view may be backward. They are exploring the consequences of adding one rather obvious fact to standard economic models: that people learn as they participate in markets and may quickly copy other investment strategies if they seem to be working. The result is a pile-on that makes the initial strategy ineffective. Brock’s results show that such adaptive learning leads to derivatives actually destabilizing markets."
Saturday, March 21, 2009
Good read on change in news
With mainstream print newspapers dropping fast, the following is interesting.
stevenberlinjohnson.com: Old Growth Media And The Future Of News
Morphing to a distributed system, as opposed to monopolies.
Here is one place I think that Warren Buffett's model of investing in papers may break down, unless they can move to the web and retain their brands
stevenberlinjohnson.com: Old Growth Media And The Future Of News
Morphing to a distributed system, as opposed to monopolies.
Here is one place I think that Warren Buffett's model of investing in papers may break down, unless they can move to the web and retain their brands
Thursday, March 19, 2009
Been there Done that
Traverse City Record-Eagle - Article: Flu, other bugs slam area: "Noroviruses have been prevalent this winter, including rapidly onset symptoms such as nausea, vomiting and diarrhea"
Monday, March 16, 2009
If it sounds too good to be true ...
Can losers sue to recover from they're own errors?
If so, where can I get some too.
Further, with the Made-off affair, how much of the multi-billion of losses was loss of phantom gains?
Talking Business - Investors Were Victims of Madoff, and of Their Own Folly - NYTimes.com:
"And yet, just about anybody who actually took the time to kick the tires of Mr. Madoff’s operation tended to run in the other direction. James R. Hedges IV, who runs an advisory firm called LJH Global Investments, says that in 1997 he spent two hours asking Mr. Madoff basic questions about his operation. “The explanation of his strategy, the consistency of his returns, the way he withheld information — it was a very clear set of warning signs,” said Mr. Hedges. When you look at the list of Madoff victims, it contains a lot of high-profile names — but almost no serious institutional investors or endowments. They insist on knowing the kind of information Mr. Madoff refused to supply.
I suppose you could argue that most of Mr. Madoff’s direct investors lacked the ability or the financial sophistication of someone like Mr. Hedges. But it shouldn’t have mattered. Isn’t the first lesson of personal finance that you should never put all your money with one person or one fund? Even if you think your money manager is “God”? Diversification has many virtues; one of them is that you won’t lose everything if one of your money managers turns out to be a crook."
If so, where can I get some too.
Further, with the Made-off affair, how much of the multi-billion of losses was loss of phantom gains?
Talking Business - Investors Were Victims of Madoff, and of Their Own Folly - NYTimes.com:
"And yet, just about anybody who actually took the time to kick the tires of Mr. Madoff’s operation tended to run in the other direction. James R. Hedges IV, who runs an advisory firm called LJH Global Investments, says that in 1997 he spent two hours asking Mr. Madoff basic questions about his operation. “The explanation of his strategy, the consistency of his returns, the way he withheld information — it was a very clear set of warning signs,” said Mr. Hedges. When you look at the list of Madoff victims, it contains a lot of high-profile names — but almost no serious institutional investors or endowments. They insist on knowing the kind of information Mr. Madoff refused to supply.
I suppose you could argue that most of Mr. Madoff’s direct investors lacked the ability or the financial sophistication of someone like Mr. Hedges. But it shouldn’t have mattered. Isn’t the first lesson of personal finance that you should never put all your money with one person or one fund? Even if you think your money manager is “God”? Diversification has many virtues; one of them is that you won’t lose everything if one of your money managers turns out to be a crook."
Sunday, March 15, 2009
Such a fickle public
How quickly impressions change, or the new wears off.
But I suspect that if the economy improves, the ratings will too.
And I'd note that comments on the financial markets have gone from "don't pay attention to tracking polls", to "things are looking up."
Obama's Poll Numbers Are Falling to Earth - WSJ.com:
"Polling data show that Mr. Obama's approval rating is dropping and is below where George W. Bush was in an analogous period in 2001. Rasmussen Reports data shows that Mr. Obama's net presidential approval rating -- which is calculated by subtracting the number who strongly disapprove from the number who strongly approve -- is just six, his lowest rating to date.
Overall, Rasmussen Reports shows a 56%-43% approval, with a third strongly disapproving of the president's performance. This is a substantial degree of polarization so early in the administration. Mr. Obama has lost virtually all of his Republican support and a good part of his Independent support, and the trend is decidedly negative.
But I suspect that if the economy improves, the ratings will too.
And I'd note that comments on the financial markets have gone from "don't pay attention to tracking polls", to "things are looking up."
Obama's Poll Numbers Are Falling to Earth - WSJ.com:
"Polling data show that Mr. Obama's approval rating is dropping and is below where George W. Bush was in an analogous period in 2001. Rasmussen Reports data shows that Mr. Obama's net presidential approval rating -- which is calculated by subtracting the number who strongly disapprove from the number who strongly approve -- is just six, his lowest rating to date.
Overall, Rasmussen Reports shows a 56%-43% approval, with a third strongly disapproving of the president's performance. This is a substantial degree of polarization so early in the administration. Mr. Obama has lost virtually all of his Republican support and a good part of his Independent support, and the trend is decidedly negative.
A detailed examination of presidential popularity after 50 days on the job similarly demonstrates a substantial drop in presidential approval relative to other elected presidents in the 20th and 21st centuries. The reason for this decline most likely has to do with doubts about the administration's policies and their impact on peoples' lives."
Mr. Schoen, formerly a pollster for President Bill Clinton...
Persepective on how to Manage
Self-explanatory
Preoccupations - For a Chef, a Comfort Zone Among the Pots and Pans - NYTimes.com:
"Given our schedules, it’s hard for executive chefs to be in the kitchen as often as we’d like, but I believe that my team performs better when they see me down in the trenches with them, appreciating the little things. It’s also where I’m happiest.
On my walk-throughs I mostly catch employees doing things right. But I also immediately notice when a sauce, for example, is wrong: too salty, too dark, too red, too loose. When that happens, the cook and I together will go back to the recipe to figure out what went awry, and I’ll give pointers on how to fix it. Mistakes don’t make me happy, but they happen all the time, and I see them as excellent opportunities to teach. Nobody wants to stagnate in their job; they want to master new techniques. My job is to continually help them grow."
Preoccupations - For a Chef, a Comfort Zone Among the Pots and Pans - NYTimes.com:
"Given our schedules, it’s hard for executive chefs to be in the kitchen as often as we’d like, but I believe that my team performs better when they see me down in the trenches with them, appreciating the little things. It’s also where I’m happiest.
On my walk-throughs I mostly catch employees doing things right. But I also immediately notice when a sauce, for example, is wrong: too salty, too dark, too red, too loose. When that happens, the cook and I together will go back to the recipe to figure out what went awry, and I’ll give pointers on how to fix it. Mistakes don’t make me happy, but they happen all the time, and I see them as excellent opportunities to teach. Nobody wants to stagnate in their job; they want to master new techniques. My job is to continually help them grow."
Where's Alistare Cooke?
The end of TV as it once was.
Well, the end likely happened years ago with the passing of such gentlemen as Alistare Cooke of PBS's Masterpiece Theater, but folks - it's a Damn TV Show.
3 Arrests in Melee at ‘America’s Next Top Model’ Casting Call - NYTimes.com:
"It was America’s next top melee.
Getting ready from Howard Beale (Network: the movie)
An open casting call for the reality television program “America’s Next Top Model” turned into mayhem on Saturday afternoon in Midtown Manhattan. Fights broke out, three people were arrested and at least six others suffered minor injuries after they were pushed down in a crush of thousands of aspiring models waiting in line to be discovered."
Well, the end likely happened years ago with the passing of such gentlemen as Alistare Cooke of PBS's Masterpiece Theater, but folks - it's a Damn TV Show.
3 Arrests in Melee at ‘America’s Next Top Model’ Casting Call - NYTimes.com:
"It was America’s next top melee.
Getting ready from Howard Beale (Network: the movie)
An open casting call for the reality television program “America’s Next Top Model” turned into mayhem on Saturday afternoon in Midtown Manhattan. Fights broke out, three people were arrested and at least six others suffered minor injuries after they were pushed down in a crush of thousands of aspiring models waiting in line to be discovered."
Saturday, March 14, 2009
Smackdown ?
Nah
It's all about advertising anyway
For Comedy channel, CNBC ... and NYTimes
Anyone who follows Cramer for deep insight is making a mistake
I'll listen from time to time for tidbits, but not deep thinking.
And for Stewart's idea that cable news/financial channels should be gatekeepers of veracity and insight ... ah well.
I guess it patterns to the idea that so many get their "news" from John Stewart !
The TV Watch - High Noon on the Set - Jim Cramer vs. Jon Stewart - NYTimes.com:
"Part of Mr. Stewart’s frustration may stem from the fact that while he clearly won the debate, Mr. Cramer and CNBC stood to profit from the encounter. In today’s television news market, that cable network and its stars are like the financiers they cover: media short-sellers trading shamelessly on publicity, good or bad, so long as it drives up ratings. There isn’t enough regulation on Wall Street, and there’s hardly any accountability on cable news: it’s a 24-hour star system in which opinions — and showmanship — matter more than facts."
Addemdum - George Will on ABC with George Stephanoplis: "you don't take financial advice from someone who's yelling..."
It's all about advertising anyway
For Comedy channel, CNBC ... and NYTimes
Anyone who follows Cramer for deep insight is making a mistake
I'll listen from time to time for tidbits, but not deep thinking.
And for Stewart's idea that cable news/financial channels should be gatekeepers of veracity and insight ... ah well.
I guess it patterns to the idea that so many get their "news" from John Stewart !
The TV Watch - High Noon on the Set - Jim Cramer vs. Jon Stewart - NYTimes.com:
"Part of Mr. Stewart’s frustration may stem from the fact that while he clearly won the debate, Mr. Cramer and CNBC stood to profit from the encounter. In today’s television news market, that cable network and its stars are like the financiers they cover: media short-sellers trading shamelessly on publicity, good or bad, so long as it drives up ratings. There isn’t enough regulation on Wall Street, and there’s hardly any accountability on cable news: it’s a 24-hour star system in which opinions — and showmanship — matter more than facts."
Addemdum - George Will on ABC with George Stephanoplis: "you don't take financial advice from someone who's yelling..."
Friday, March 13, 2009
Rocket Science is OK on The Street
As long as you don't treat them like religon.
They are just models, not facts.
The flaw is in drinking the kool-aid and then leveraging up on the ideas.
They Tried to Outsmart Wall Street - NYTimes.com:
"As Dr. Derman put it in his book “My Life as a Quant: Reflections on Physics and Finance,” “In physics there may one day be a Theory of Everything; in finance and the social sciences, you’re lucky if there is a useable theory of anything.”
Asked to compare her work to physics, one quant, who requested anonymity because her company had not given her permission to talk to reporters, termed the market “a wild beast” that cannot be controlled, and then added: “It’s not like building a bridge. If you’re right more than half the time you’re winning the game.”"
They are just models, not facts.
The flaw is in drinking the kool-aid and then leveraging up on the ideas.
They Tried to Outsmart Wall Street - NYTimes.com:
"As Dr. Derman put it in his book “My Life as a Quant: Reflections on Physics and Finance,” “In physics there may one day be a Theory of Everything; in finance and the social sciences, you’re lucky if there is a useable theory of anything.”
Asked to compare her work to physics, one quant, who requested anonymity because her company had not given her permission to talk to reporters, termed the market “a wild beast” that cannot be controlled, and then added: “It’s not like building a bridge. If you’re right more than half the time you’re winning the game.”"
Thursday, March 12, 2009
Do you Trust Bankers ?
Let's make that, Do you trust big bankers
Donny Deutsch takes apart Ken Lewis of Bank of America for outrageous claims on advertising and promotion. About 3 min in.
Lewis apparently claims 10:1 payback for sports marketing.
Donny says it's unprovable
Donny Deutsch takes apart Ken Lewis of Bank of America for outrageous claims on advertising and promotion. About 3 min in.
Lewis apparently claims 10:1 payback for sports marketing.
Donny says it's unprovable
Monday, March 09, 2009
Banking should be boring
Much more eloquent than me
In Business, Simplicity Is Golden - Forbes.com:
If it doesn't make sense, maybe it simply doesn't make sense...
In Business, Simplicity Is Golden - Forbes.com:
If it doesn't make sense, maybe it simply doesn't make sense...
Sunday, March 08, 2009
Third time the charm?
Piece from 2005 on Duh Donald.
We'll likely watch the make believe "Celebrity Apprentice" just to poke fun at the "host"
Will this recession be another series of failures for his "empire"
What's He Really Worth? - New York Times:
"By 1993, with his casinos in hock, most of his real estate holdings either forfeited or stagnant and his father slipping into the fog of Alzheimer's disease, Donald Trump, at the age of 47, had run out of money. There were no funds left to keep him aloft, and as the bare-bones operation he maintained in Manhattan started to grind to a halt, he ordered Nick Ribis, the Trump Organization's president, to call his siblings and ask for a handout from their trusts. Donald needed about $10 million for his living and office expenses, but he had no collateral to provide his brother and sisters, all three of whom wanted a guarantee that he would repay them.
The Trump children's anticipated share of their father's fortune amounted to about $35 million each, and Donald's siblings demanded that he sign a promissory note pledging future distributions from his trust fund against the $10 million he wanted to borrow."
We'll likely watch the make believe "Celebrity Apprentice" just to poke fun at the "host"
Will this recession be another series of failures for his "empire"
What's He Really Worth? - New York Times:
"By 1993, with his casinos in hock, most of his real estate holdings either forfeited or stagnant and his father slipping into the fog of Alzheimer's disease, Donald Trump, at the age of 47, had run out of money. There were no funds left to keep him aloft, and as the bare-bones operation he maintained in Manhattan started to grind to a halt, he ordered Nick Ribis, the Trump Organization's president, to call his siblings and ask for a handout from their trusts. Donald needed about $10 million for his living and office expenses, but he had no collateral to provide his brother and sisters, all three of whom wanted a guarantee that he would repay them.
The Trump children's anticipated share of their father's fortune amounted to about $35 million each, and Donald's siblings demanded that he sign a promissory note pledging future distributions from his trust fund against the $10 million he wanted to borrow."
It's not just Detroit that's got troubles
Trying to sell $100,000+ cars with questionable technology looks like a bad bet.
Deathwatch: Why Tesla's Elon Musk Could Be the New Preston Tucker:
"In October, Valleywag reported that Tesla Motors was down to $9 million in the bank. Musk confirmed the company's cash position, and promised he would raise another $40 million in convertible debt from existing investors. But the fundraising is taking longer than planned. At a recent town hall meeting with customers, Musk reportedly told Tesla buyers that the company almost ran out of money in December, before it raised part of the round. Tesla is still seeking new funds."
Deathwatch: Why Tesla's Elon Musk Could Be the New Preston Tucker:
"In October, Valleywag reported that Tesla Motors was down to $9 million in the bank. Musk confirmed the company's cash position, and promised he would raise another $40 million in convertible debt from existing investors. But the fundraising is taking longer than planned. At a recent town hall meeting with customers, Musk reportedly told Tesla buyers that the company almost ran out of money in December, before it raised part of the round. Tesla is still seeking new funds."
Who should be fired ?
How about ... "Duh Donald"
The Associated Press: Trump venture folds, leaving buyers strapped:
"Investors were told last month their money was spent and they won't get a penny back. A single mother in suburban Los Angeles lost $200,000 and won't be able to send her sons to private universities. A Los Angeles-area businessman lost a deposit of more than $1 million on four Trump units, including two penthouses.
The project's collapse comes at a delicate time for Trump, whose casino company, Trump Entertainment Resorts Inc., filed for bankruptcy protection last month. He also is embroiled in a lawsuit to avoid paying debt on the struggling Trump International Hotel & Tower in Chicago.
Trump and his children heavily promoted the northern tip of Mexico's Baja California coast. He sold 188 units for $122 million the first day they went on a sale at a lavish event in a downtown San Diego hotel in December 2006."
The Associated Press: Trump venture folds, leaving buyers strapped:
"Investors were told last month their money was spent and they won't get a penny back. A single mother in suburban Los Angeles lost $200,000 and won't be able to send her sons to private universities. A Los Angeles-area businessman lost a deposit of more than $1 million on four Trump units, including two penthouses.
The project's collapse comes at a delicate time for Trump, whose casino company, Trump Entertainment Resorts Inc., filed for bankruptcy protection last month. He also is embroiled in a lawsuit to avoid paying debt on the struggling Trump International Hotel & Tower in Chicago.
Trump and his children heavily promoted the northern tip of Mexico's Baja California coast. He sold 188 units for $122 million the first day they went on a sale at a lavish event in a downtown San Diego hotel in December 2006."
Markets don't matter
Advise for pensioners, and those with 401K or other retirement plans ... those who view their portfolios as 201K's should ignore their statements.
Don't worry, be happy
Right
Stocks Should Matter to Obama - WSJ.com:
"Presidents usually pretend they don't pay much attention to such stock-market gyrations. If it's been said once from a White House podium, it's been said a thousand times: 'Markets rise, markets fall. We worry about the fundamentals of the economy instead.'
President Barack Obama gave his own version of that response this week, declaring in response to a reporter's question: 'You know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, and if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong.'"
Don't worry, be happy
Right
Stocks Should Matter to Obama - WSJ.com:
"Presidents usually pretend they don't pay much attention to such stock-market gyrations. If it's been said once from a White House podium, it's been said a thousand times: 'Markets rise, markets fall. We worry about the fundamentals of the economy instead.'
President Barack Obama gave his own version of that response this week, declaring in response to a reporter's question: 'You know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, and if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong.'"
Lest anyone think I'm a Republican
Rush is an entertainer, nothing more, nothing less.
And an ill informed one at that
Caught up in his own bravado and hype.
Call it ... 'drinks his own kool-aid"
Allowing the Democrats to position him as the spokesperson of the Republican party is just foolishness
The GOP's Limbaugh Dilemma - WSJ.com:
"Rush Limbaugh is right where he wants to be and right where the White House wants him: in the news. But Republicans have more mixed feelings about the controversial talk radio host's recent elevation."
And an ill informed one at that
Caught up in his own bravado and hype.
Call it ... 'drinks his own kool-aid"
Allowing the Democrats to position him as the spokesperson of the Republican party is just foolishness
The GOP's Limbaugh Dilemma - WSJ.com:
"Rush Limbaugh is right where he wants to be and right where the White House wants him: in the news. But Republicans have more mixed feelings about the controversial talk radio host's recent elevation."
What the F ???
But but but ... this is suppose to be the administration of change ...
The Obama Justice Department Adopts the George W. Bush Administration's Legal Stance on Presidential Powers - WSJ.com:
"The Obama Justice Department has adopted a legal stance identical to, if not more aggressive than, the Bush version. It argues that the court-forced disclosure of the surveillance programs would cause 'exceptional harm to national security' by exposing intelligence sources and methods. Last Friday the Ninth Circuit denied the latest emergency motion to dismiss, again kicking matters back to Judge Walker"
The Obama Justice Department Adopts the George W. Bush Administration's Legal Stance on Presidential Powers - WSJ.com:
"The Obama Justice Department has adopted a legal stance identical to, if not more aggressive than, the Bush version. It argues that the court-forced disclosure of the surveillance programs would cause 'exceptional harm to national security' by exposing intelligence sources and methods. Last Friday the Ninth Circuit denied the latest emergency motion to dismiss, again kicking matters back to Judge Walker"
Thursday, March 05, 2009
Change you can count on
When?
Maureen Dowd on pork in the budget.
Just veto it.
Op-Ed Columnist - Stage of Fools - NYTimes.com:
"In one of his disturbing spells of passivity, President Obama decided not to fight Congress and live up to his own no-earmark pledge from the campaign.
He’s been lecturing us on the need to prune away frills while the economy fizzles. He was slated to make a speech on “wasteful spending” on Wednesday.
“You know, there are times where you can afford to redecorate your house and there are times where you need to focus on rebuilding its foundation,” he said recently about the “hard choices” we must make. Yet he did not ask Congress to sacrifice and make hard choices; he let it do a lot of frivolous redecorating in its budget."
Maureen Dowd on pork in the budget.
Just veto it.
Op-Ed Columnist - Stage of Fools - NYTimes.com:
"In one of his disturbing spells of passivity, President Obama decided not to fight Congress and live up to his own no-earmark pledge from the campaign.
He’s been lecturing us on the need to prune away frills while the economy fizzles. He was slated to make a speech on “wasteful spending” on Wednesday.
“You know, there are times where you can afford to redecorate your house and there are times where you need to focus on rebuilding its foundation,” he said recently about the “hard choices” we must make. Yet he did not ask Congress to sacrifice and make hard choices; he let it do a lot of frivolous redecorating in its budget."
Bubble Bubble, Toil & Trouble
Piece from last Sept laying out where to point for blame
I would add borrowers who knew that their purchases, from the dot-com bubble to real estate were too good to be true.
Click link for entire piece
Calling Out the Culprits Who Caused the Crisis - washingtonpost.com
I would add borrowers who knew that their purchases, from the dot-com bubble to real estate were too good to be true.
Click link for entire piece
Calling Out the Culprits Who Caused the Crisis - washingtonpost.com
By Eric D. Hovde
Sunday, September 21, 2008; Page B01
Looking for someone to blame for the shambles in U.S. financial markets? As someone who owns both an investment bank and commercial banks, and also runs a hedge fund, I have sat front and center and watched as this mess unfolded. And in my view, there's no need to look beyond Wall Street -- and the halls of power in Washington. The former has created the nightmare by chasing obscene profits, and the latter have allowed it to spread by not practicing the oversight that is the federal government's responsibility.
Wednesday, March 04, 2009
Calling it as he sees it
Scathing comments from Jim
Let failures ... fail
Jim Rogers Doesn't Mince Words About the Crisis - BusinessWeek:
"He has harsh words for former Fed Chairman Alan Greenspan, suggests President Barack Obama and his economic team are not up to the task, and thinks tough love is the answer for America.
MARIA BARTIROMO
What do you think of the government's response to the economic crisis?
JIM ROGERS
Terrible. They're making it worse. It's pretty embarrassing for President Obama, who doesn't seem to have a clue what's going on—which would make sense from his background. And he has hired people who are part of the problem. [Treasury Secretary Tim] Geithner was head of the New York Fed, which was supposedly in charge of Wall Street and the banks more than anybody else. And as you remember, [Obama's chief economic adviser, Larry] Summers helped bail out Long-Term Capital Management years ago. These are people who think the only solution is to save their friends on Wall Street rather than to save 300 million Americans."
Let failures ... fail
Jim Rogers Doesn't Mince Words About the Crisis - BusinessWeek:
"He has harsh words for former Fed Chairman Alan Greenspan, suggests President Barack Obama and his economic team are not up to the task, and thinks tough love is the answer for America.
MARIA BARTIROMO
What do you think of the government's response to the economic crisis?
JIM ROGERS
Terrible. They're making it worse. It's pretty embarrassing for President Obama, who doesn't seem to have a clue what's going on—which would make sense from his background. And he has hired people who are part of the problem. [Treasury Secretary Tim] Geithner was head of the New York Fed, which was supposedly in charge of Wall Street and the banks more than anybody else. And as you remember, [Obama's chief economic adviser, Larry] Summers helped bail out Long-Term Capital Management years ago. These are people who think the only solution is to save their friends on Wall Street rather than to save 300 million Americans."
Small mindedness
I never thought that Billy was the brightest guy in the room
Ruthless, but not necessarily "smart"
Simon Simenov's blog
HighContrast:
"I’m all for dogfooding but not at the expense of deep competitive research. Sometimes you just have to live with your competitors’ products in order to understand them the way their customers do. I guess now that Bill Gates is focused on the foundation he is no longer interested in deeply understanding Microsoft competitors’ products. No other way to describe why iPhones and iPods are banned in the Gates household. What better way to learn about your competitors’ secret sauce than watch how your kids use their products?"
Ruthless, but not necessarily "smart"
Simon Simenov's blog
HighContrast:
"I’m all for dogfooding but not at the expense of deep competitive research. Sometimes you just have to live with your competitors’ products in order to understand them the way their customers do. I guess now that Bill Gates is focused on the foundation he is no longer interested in deeply understanding Microsoft competitors’ products. No other way to describe why iPhones and iPods are banned in the Gates household. What better way to learn about your competitors’ secret sauce than watch how your kids use their products?"
Bit of, a contradiction
I followed the link to this (Thanks Jason) and read it
In other words, my behavior, in large part, contradicted the author's premise of too many distractions to be able to read something through.
And I rather enjoy the multitude of links to other, related, ideas.
The Sun Magazine | Computing The Cost
Anyone who has spent a few hours on the Internet understands how reading a single paragraph can lead to a multimedia journey so far-reaching you forget what you originally went online to look up.
In other words, my behavior, in large part, contradicted the author's premise of too many distractions to be able to read something through.
And I rather enjoy the multitude of links to other, related, ideas.
The Sun Magazine | Computing The Cost
Anyone who has spent a few hours on the Internet understands how reading a single paragraph can lead to a multimedia journey so far-reaching you forget what you originally went online to look up.
Tuesday, March 03, 2009
Hunting
Sub Title - oh deer
9:20 this AM
Same pair that were about 50 yards out on the lake yesterday
This time, right on the beach
Tonight, we heard the yips, maybe they go their deer
We'll know soon, will do head count of the ones that visit 3 times a day
9:20 this AM
Same pair that were about 50 yards out on the lake yesterday
This time, right on the beach
Tonight, we heard the yips, maybe they go their deer
We'll know soon, will do head count of the ones that visit 3 times a day
Channeling Ayn Rand?
Click on the title for link to CNBC snippet by Eric Hovde on the insanity of some of the proposals coming from Washington
Are we indeed deciding to further gut capitalism, destroy charities, move towards socialism
He lays out spending on high speed rail - from Disneyland to Las Vegas - like huh?
While I agree that there have been gross excesses, is the answer to let the free market clear up the mess or is it to rely on elected officials?
The stock market points to fears that it goes to the politicians.
Capital is on strike.
Are we indeed deciding to further gut capitalism, destroy charities, move towards socialism
He lays out spending on high speed rail - from Disneyland to Las Vegas - like huh?
While I agree that there have been gross excesses, is the answer to let the free market clear up the mess or is it to rely on elected officials?
The stock market points to fears that it goes to the politicians.
Capital is on strike.
Monday, March 02, 2009
James Baker on Banking
Flush management, boards, and shareholders, bondholders if possible.
Again, Banking Should be Boring
FT.com / Comment / Opinion - How Washington can prevent ‘zombie banks’:
"Many are to blame for the current situation. But we have no time for finger-pointing or partisan posturing. This crisis demands a pragmatic, comprehensive plan. We simply cannot continue to muddle through it with a Band-Aid approach.
During the 1990s, American officials routinely urged their Japanese counterparts to kill their zombie banks before they could do more damage to Japan’s economy. Today, it would be irresponsible if we did not heed our own advice."
Again, Banking Should be Boring
FT.com / Comment / Opinion - How Washington can prevent ‘zombie banks’:
"Many are to blame for the current situation. But we have no time for finger-pointing or partisan posturing. This crisis demands a pragmatic, comprehensive plan. We simply cannot continue to muddle through it with a Band-Aid approach.
During the 1990s, American officials routinely urged their Japanese counterparts to kill their zombie banks before they could do more damage to Japan’s economy. Today, it would be irresponsible if we did not heed our own advice."
Wednesday, February 25, 2009
Do the right thing
Good stuff from Seth
Fits my ideas about Cherry Capital Foods
Substitute sales and delivery for marketing
Seth's Blog: Is marketing evil?:
"For me, marketing works for society when the marketer and consumer are both aware of what's happening and are both satisfied with the ultimate outcome. I don't think it's evil to make someone happy by selling them cosmetics, because beauty isn't the goal, it's the process that brings joy. On the other hand, swindling someone out of their house in order to make a sales commission..."
Fits my ideas about Cherry Capital Foods
Substitute sales and delivery for marketing
Seth's Blog: Is marketing evil?:
"For me, marketing works for society when the marketer and consumer are both aware of what's happening and are both satisfied with the ultimate outcome. I don't think it's evil to make someone happy by selling them cosmetics, because beauty isn't the goal, it's the process that brings joy. On the other hand, swindling someone out of their house in order to make a sales commission..."
Monday, February 23, 2009
Again - Banking should be Boring
Nouriel Roubini Says Nationalizing the Banks Is the Market-Friendly Solution - WSJ.com:
Mr. Roubini tells me that bank nationalization "is something the partisans would have regarded as anathema a few weeks ago. But when I and others put it in the context of the Swedish approach [of the 1990s] -- i.e. you take banks over, you clean them up, and you sell them in rapid order to the private sector -- it's clear that it's temporary. No one's in favor of a permanent government takeover of the financial system."
Mr. Roubini tells me that bank nationalization "is something the partisans would have regarded as anathema a few weeks ago. But when I and others put it in the context of the Swedish approach [of the 1990s] -- i.e. you take banks over, you clean them up, and you sell them in rapid order to the private sector -- it's clear that it's temporary. No one's in favor of a permanent government takeover of the financial system."
There's another reason why the concept should appeal to (fiscal) conservatives, he explains. "The idea that government will fork out trillions of dollars to try to rescue financial institutions, and throw more money after bad dollars, is not appealing because then the fiscal cost is much larger. So rather than being seen as something Bolshevik, nationalization is seen as pragmatic. Paradoxically, the proposal is more market-friendly than the alternative of zombie banks."
and...What exactly is Nouriel Roubini's economic philosophy? "I believe in market economics," he says, with some emphasis. "But to paraphrase Churchill -- who said this about democracy and political regimes -- a market economy might be the worst economic regime available, apart from the alternatives.
"I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential -- not excessive -- regulation of the financial system. The two things that Greenspan got totally wrong were his beliefs that, one, markets self-regulate, and two, that there's no market failure."
How could Mr. Greenspan have been so naïve, I ask, hoping to get a rise. "Well," says Mr. Roubini, "at some level it's good to have a framework to think about the world, in which you emphasize the role of incentives and market economics . . . fair enough! But I think it led to an excessive ideological belief that there are no market failures, and no issues of distortions on incentives. Also, central banks were created to provide financial stability. Greenspan forgot this, and that was a mistake. I think there were ideological blinders, taking Ayn Rand's view of the world to an extreme.
"Again, I don't want to personalize things, but the last decade was one of self-regulation. But in the financial markets, without proper institutional rules, there's the law of the jungle -- because there's greed! There's nothing wrong with greed, per se. It's not that people are more greedy now than they were 20 years ago. But greed has to be tempered, first, by fear of losses. So if you bail people out, there's less fear. And second, by prudential regulation and supervision to avoid certain excesses."
How does Mr. Roubini think the media has covered the financial crisis? "The problem," he says -- after first stating to me that he intends "no offense!" -- "is that in the bubble years, everyone becomes a cheerleader, including the media. This is the time when journalists should be asking tough questions, and I think there was a failure there. The Masters of the Universe were always on the cover, or the front page -- the hedge-fund guys, the imperial CEO, private equity. I wish there had been more financial and business journalists, in the good years, who'd said, 'Wait a moment, if this man, or this firm, is making a 100% return a year, how do they do it? Is it because they're smarter than everybody else . . . or because they're taking so much risk they'll be bankrupt two years down the line?'
"And I think, in the bubble years, no one asked the hard questions. A good journalist has to be one who, in good times, challenges the conventional wisdom. If you don't do that, you fail in one of your duties."
Sunday, February 22, 2009
London calling
London in it's various forms over the last couple decades and prospects for the future
Reykjavik-on-Thames | The Economist:
"London’s other names, and what they say about Britain’s recent history"
Reykjavik-on-Thames | The Economist:
"London’s other names, and what they say about Britain’s recent history"
More posts on current affairs
I should think that there would be a great variety of instruments that could be used, rather than each deal being "individual" there could also be methods to customize deals, while still allowing the transparency that open markets can provide.
That's what options and derivatives should be about, but they must be based on clarity, not obfuscation. Truth in borrowing, not falsehoods.
In time, we'll see this and it will help bring the finance markets back to life.
Can't be soon enough ...
Jan 29th '09
Taming the unruly OTC market | Drugstore cowboys | The Economist:
"The exchanges say that by offering the flexibility of OTC markets with central clearing and automated processing, they provide the best of both worlds: customisation (within limits) coupled with reduced counterparty and operational risk. Counterparty risk is reduced since all parties work through the same clearing mechanism. That leaves less chance of gridlock when a big institution fails. Operational risks are fewer, because exchanges have been early adopters of automated processing systems, whereas OTC systems are often outdated and time-consuming. Exchanges, finally, produce a plethora of information about prices and markets, a valuable public good.
This could mark a reversal of fortune for the OTC market, where trading volumes had grown to almost $700 trillion at last count, a ninefold increase in a decade. Yet OTC products have their own blessings; they allow bankers to tailor financial products to their customers’ needs. Their relationship with exchanges need not be wholly adversarial. Financial innovations may start out in OTC markets and move to exchanges as they mature. Youth may sometimes be wild, but it should be nurtured, not suppressed."
That's what options and derivatives should be about, but they must be based on clarity, not obfuscation. Truth in borrowing, not falsehoods.
In time, we'll see this and it will help bring the finance markets back to life.
Can't be soon enough ...
Jan 29th '09
Taming the unruly OTC market | Drugstore cowboys | The Economist:
"The exchanges say that by offering the flexibility of OTC markets with central clearing and automated processing, they provide the best of both worlds: customisation (within limits) coupled with reduced counterparty and operational risk. Counterparty risk is reduced since all parties work through the same clearing mechanism. That leaves less chance of gridlock when a big institution fails. Operational risks are fewer, because exchanges have been early adopters of automated processing systems, whereas OTC systems are often outdated and time-consuming. Exchanges, finally, produce a plethora of information about prices and markets, a valuable public good.
This could mark a reversal of fortune for the OTC market, where trading volumes had grown to almost $700 trillion at last count, a ninefold increase in a decade. Yet OTC products have their own blessings; they allow bankers to tailor financial products to their customers’ needs. Their relationship with exchanges need not be wholly adversarial. Financial innovations may start out in OTC markets and move to exchanges as they mature. Youth may sometimes be wild, but it should be nurtured, not suppressed."
A collection of links on Current Events
From Jan 22, '09
An excellent compilation of reports on current mess and how bankers got us here:
A special report on the future of finance: The collapse of finance | Greed—and fear | The Economist
Of particular interest is this:
A special report on the future of finance: Fallible mathematical models | In Plato's cave | The Economist:
"Mathematical models are a powerful way of predicting financial markets. But they are fallible"
---
My Mantra : Banking Should Be Boring
High returns come from high risk - not what banks should have gotten into.
How to make bad banks work | The spectre of nationalisation | The Economist:
"Economists have long recognised that banks are special. Through decades-old relationships with millions of households and businesses, they normally (though, sadly, not recently) steer savings to productive and lucrative endeavours. Letting banks collapse would wipe out this critical mechanism; nationalising them could, eventually, do it similar damage."
From Jan 29th '09
Fiscal stimulus is the right policy when consumers and business close their wallets, but ...
Will governments' fiscal stimulus plans work? | Big government fights back | The Economist:
"This need not be calamitous. Governments can work off huge debt burdens without default or high inflation. During the second world war, for instance, Britain’s gross debt burden rose above 200% of GDP; America’s topped 120%. During the 1990s, fast growth and fiscal prudence allowed countries from Ireland to Canada to cut their debt levels sharply.
The difference this time is that the rich world already faces the costs of an ageing population, which promise a fiscal burden many times greater than even the darkest scenarios for the financial crisis. Right now fiscal activism is indispensable, but the consequences will be bigger and longer-lasting than many realise."
I'm wondering if part of the current problem is that the leading edge of the boomers are pulling out, never to return.
From Jan 22nd '09:
Because China has no other place to invest, rates were driven too low, and bankers didn't recycle funds as maybe they should have.
Capital flows and the financial crisis | When a flow becomes a flood | The Economist:
"The deep causes of the financial crisis lie in global imbalances—mainly, America’s huge current-account deficit and China’s huge surplus"
An excellent compilation of reports on current mess and how bankers got us here:
A special report on the future of finance: The collapse of finance | Greed—and fear | The Economist
Of particular interest is this:
A special report on the future of finance: Fallible mathematical models | In Plato's cave | The Economist:
"Mathematical models are a powerful way of predicting financial markets. But they are fallible"
---
My Mantra : Banking Should Be Boring
High returns come from high risk - not what banks should have gotten into.
How to make bad banks work | The spectre of nationalisation | The Economist:
"Economists have long recognised that banks are special. Through decades-old relationships with millions of households and businesses, they normally (though, sadly, not recently) steer savings to productive and lucrative endeavours. Letting banks collapse would wipe out this critical mechanism; nationalising them could, eventually, do it similar damage."
From Jan 29th '09
Fiscal stimulus is the right policy when consumers and business close their wallets, but ...
Will governments' fiscal stimulus plans work? | Big government fights back | The Economist:
"This need not be calamitous. Governments can work off huge debt burdens without default or high inflation. During the second world war, for instance, Britain’s gross debt burden rose above 200% of GDP; America’s topped 120%. During the 1990s, fast growth and fiscal prudence allowed countries from Ireland to Canada to cut their debt levels sharply.
The difference this time is that the rich world already faces the costs of an ageing population, which promise a fiscal burden many times greater than even the darkest scenarios for the financial crisis. Right now fiscal activism is indispensable, but the consequences will be bigger and longer-lasting than many realise."
I'm wondering if part of the current problem is that the leading edge of the boomers are pulling out, never to return.
From Jan 22nd '09:
Because China has no other place to invest, rates were driven too low, and bankers didn't recycle funds as maybe they should have.
Capital flows and the financial crisis | When a flow becomes a flood | The Economist:
"The deep causes of the financial crisis lie in global imbalances—mainly, America’s huge current-account deficit and China’s huge surplus"
"What persuades developing countries to export capital to the rich world that might be better used at home? Influences on saving vary from region to region. The income of oil-exporting countries, for instance, has ballooned since 2004 because of higher prices for crude. It would have been neither feasible nor wise for oil-rich nations to spend this windfall at home, so much of it was saved and sent abroad. Economists who have looked for something that unifies the saving behaviour of a disparate group of countries, from oil-exporters to metal-bashers, have converged on one important motive: the need to acquire reliable stores of value that can be sold easily when trouble strikes.
This idea has been developed in a series of papers by Ricardo Caballero of the Massachusetts Institute of Technology (MIT), Emmanuel Farhi of Harvard University and Berkeley’s Mr Gourinchas. Their thesis is that emerging countries cannot create enough trustworthy saving vehicles to keep up with the pace of economic growth, because their financial markets are immature. Householders cannot rely on a ready supply of credit—or on government safety nets—so must save hard for a rainy day. But the domestic supply of financial assets is unreliable so the thrifty plump for foreign assets instead. America is the favoured place because it has broad and liquid markets for securities."
Are some feeling let down already?
I was able, due in large part to travel and travel delays, to get caught up on some reading
Posting some pieces from the Economist (my favorite single magazine).
This one from Jan 24th on politics, the Lexington column
I'd posted previously on expectations ... might have been a bit high
Betrayed by Obama | The Economist:
"It has been only two-and-a-half months since Mr Obama was elected, but his “Yes, We Can” coalition is already fraying at the edges. In his appointments and pronouncements, Mr Obama keeps hinting that he is neither as radical nor as pure as his progressive supporters dared to hope. Anti-war activists, who rallied round him in the Democratic primaries because he was the only top-tier candidate to have opposed the Iraq war from the outset, now see worrying signs that their hero is a closet hawk. On the stump, he used to say things like: “I will bring this war to an end in 2009. So don’t be confused.” Now he says it might take a bit longer. To make matters worse, he has kept George Bush’s defence secretary, Robert Gates, in his job. “Not a single member of Obama’s foreign-policy [and] national-security team opposed the war,” fumes Katrina vanden Heuvel, the editor of the Nation, a lefty magazine, adding that Mr Gates is “a terrible pick”."
and then this :
"On anti-terrorism policy generally, Dick Cheney, the former vice-president, recently remarked that before Mr Obama started to keep his campaign promises, he needed “to sit down and find out precisely what it is we did and how we did it.” Mr Obama described this as “pretty good advice”. The people who used to flock to his rallies with placards demanding that Mr Bush and Mr Cheney be tried as war criminals are aghast, not least because Mr Obama appears disinclined to prosecute anyone.
For the left, the list of Mr Obama’s betrayals—real or anticipated—is getting longer. His economic advisers are nearly all centrists. Far from bringing capitalism to heel, he is planning to save it. His choice for attorney-general, Eric Holder, used to work for big corporations, making him a “poster-child for…selling out,” grumbles David Corn of Mother Jones, a progressive magazine. Unions fret that Mr Obama will not campaign hard enough to increase their clout. Greens worry that he will not move fast enough to rescue the planet. The National Organisation for Women complains that his economic-stimulus package will pump too much money into male-dominated industries such as construction, leaving only scraps for teachers and social workers."
Posting some pieces from the Economist (my favorite single magazine).
This one from Jan 24th on politics, the Lexington column
I'd posted previously on expectations ... might have been a bit high
Betrayed by Obama | The Economist:
"It has been only two-and-a-half months since Mr Obama was elected, but his “Yes, We Can” coalition is already fraying at the edges. In his appointments and pronouncements, Mr Obama keeps hinting that he is neither as radical nor as pure as his progressive supporters dared to hope. Anti-war activists, who rallied round him in the Democratic primaries because he was the only top-tier candidate to have opposed the Iraq war from the outset, now see worrying signs that their hero is a closet hawk. On the stump, he used to say things like: “I will bring this war to an end in 2009. So don’t be confused.” Now he says it might take a bit longer. To make matters worse, he has kept George Bush’s defence secretary, Robert Gates, in his job. “Not a single member of Obama’s foreign-policy [and] national-security team opposed the war,” fumes Katrina vanden Heuvel, the editor of the Nation, a lefty magazine, adding that Mr Gates is “a terrible pick”."
and then this :
"On anti-terrorism policy generally, Dick Cheney, the former vice-president, recently remarked that before Mr Obama started to keep his campaign promises, he needed “to sit down and find out precisely what it is we did and how we did it.” Mr Obama described this as “pretty good advice”. The people who used to flock to his rallies with placards demanding that Mr Bush and Mr Cheney be tried as war criminals are aghast, not least because Mr Obama appears disinclined to prosecute anyone.
For the left, the list of Mr Obama’s betrayals—real or anticipated—is getting longer. His economic advisers are nearly all centrists. Far from bringing capitalism to heel, he is planning to save it. His choice for attorney-general, Eric Holder, used to work for big corporations, making him a “poster-child for…selling out,” grumbles David Corn of Mother Jones, a progressive magazine. Unions fret that Mr Obama will not campaign hard enough to increase their clout. Greens worry that he will not move fast enough to rescue the planet. The National Organisation for Women complains that his economic-stimulus package will pump too much money into male-dominated industries such as construction, leaving only scraps for teachers and social workers."
Saturday, February 21, 2009
Watch what you say
Words can have an effect
Talk down the economy and it can go down, buy damaging confidence.
Not just consumer confidence, but by a series of confusing policies, capital can decide to stay on the sidelines.
Economic View - Can Talk of a Depression Lead to One? - News Analysis - NYTimes.com:
"This Depression narrative, however, is not merely a story about the past: It has started to inform our current expectations."
Talk down the economy and it can go down, buy damaging confidence.
Not just consumer confidence, but by a series of confusing policies, capital can decide to stay on the sidelines.
Economic View - Can Talk of a Depression Lead to One? - News Analysis - NYTimes.com:
"This Depression narrative, however, is not merely a story about the past: It has started to inform our current expectations."
Friday, February 13, 2009
Un-investable
From AP wire:
Wish I'd shorted this puppy when they lost my business
Fifth Third shares fall on stability concerns - Yahoo! Finance:
"Shares of the Cincinnati-based bank fell as much as 9 percent Friday, and recently traded down 6 cents, or 2.7 percent, to $2.14.
In a note to clients, senior analyst Kevin St. Pierre said more details are needed on how the government plans to administer its 'stress test' on banks with assets over $100 billion. This will determine not only if Fifth Third needs more capital, which he believes it does, but will also provide more insight on how much its shares could be diluted from further government investment.
As part of the government's overhaul of the $700 billion financial bailout package passed last fall, the Treasury Department has proposed a 'stress test' for the nation's largest banks to determine whether they can make loans on their own or need further government aid.
"Upon release of the details of the test and the minimum capital levels desired by the government, we will be better equipped to evaluate the viability of Fifth Third and the potential dilution involved with further injection of capital by the government," St. Pierre wrote. Until then, the bank is "un-investable," he said."
Wish I'd shorted this puppy when they lost my business
Fifth Third shares fall on stability concerns - Yahoo! Finance:
"Shares of the Cincinnati-based bank fell as much as 9 percent Friday, and recently traded down 6 cents, or 2.7 percent, to $2.14.
In a note to clients, senior analyst Kevin St. Pierre said more details are needed on how the government plans to administer its 'stress test' on banks with assets over $100 billion. This will determine not only if Fifth Third needs more capital, which he believes it does, but will also provide more insight on how much its shares could be diluted from further government investment.
As part of the government's overhaul of the $700 billion financial bailout package passed last fall, the Treasury Department has proposed a 'stress test' for the nation's largest banks to determine whether they can make loans on their own or need further government aid.
"Upon release of the details of the test and the minimum capital levels desired by the government, we will be better equipped to evaluate the viability of Fifth Third and the potential dilution involved with further injection of capital by the government," St. Pierre wrote. Until then, the bank is "un-investable," he said."
Wednesday, February 11, 2009
Raunch on
All I can say is ... very very LOL
Totally non-PC
If you have gay (fag/queer/many other terms) friends
Or any friends of virtually any racial "profile" who enjoys very very blunt humor - check it out
very very funny S--t
HBO: Lisa Lampanelli: Long Live the Queen
Totally non-PC
If you have gay (fag/queer/many other terms) friends
Or any friends of virtually any racial "profile" who enjoys very very blunt humor - check it out
very very funny S--t
HBO: Lisa Lampanelli: Long Live the Queen
Need for white space
The Moraine Lake image would not size right
Or, likely, I didn't know the right settings
So
I need white space to move it down
See if this is enough
Almost
More
Or, likely, I didn't know the right settings
So
I need white space to move it down
See if this is enough
Almost
More
One of my al time favorite places
I've only been here about 4 times, starting in the mid 70's
Long overdue
BTW - the current lodge wasn't there when I started
Moraine Lake
Long overdue
BTW - the current lodge wasn't there when I started
Moraine Lake
Tuesday, February 10, 2009
So what gives?
So the question is why the markets dropped today
Maybe because, during Congressional Testimony, investors started to note that the new Treasury Secretary
Really is an Elf?
Like Orlando Bloom from "The Ring"
Check the ears !
Maybe because, during Congressional Testimony, investors started to note that the new Treasury Secretary
Really is an Elf?
Like Orlando Bloom from "The Ring"
Check the ears !
Congnative Dissonance... cont
The next Presidential trip - to Fort Myers - near Leigh Acres ...
Rather than a more typical Middle American region, let's pick an area that exemplifies the "irrational exuberance" of sunbelt real estate.
Just what needs to be saved...
In Florida, Despair and Foreclosures - NYTimes.com:
"By 2000, the lots had been sold, but most stayed empty. Only about 30,000 people were living in an area roughly four times the size of Manhattan. The builders really started to arrive in 2004, setting up model homes on Lee Boulevard next to Mr. Elliott’s office with the faded wooden sign that said “$50 lots.”
Bill Spikowski, a city planning consultant in Fort Myers, said that because Lehigh Acres had so many parcels and few restrictions on what could be built, smaller companies battled for customers. From 2004 to the end of 2006, developers completed 13,183 units in Lehigh Acres — nearly doubling the total stock of 15,216 that existed in 2000, according to Lee County figures."
Rather than a more typical Middle American region, let's pick an area that exemplifies the "irrational exuberance" of sunbelt real estate.
Just what needs to be saved...
In Florida, Despair and Foreclosures - NYTimes.com:
"By 2000, the lots had been sold, but most stayed empty. Only about 30,000 people were living in an area roughly four times the size of Manhattan. The builders really started to arrive in 2004, setting up model homes on Lee Boulevard next to Mr. Elliott’s office with the faded wooden sign that said “$50 lots.”
Bill Spikowski, a city planning consultant in Fort Myers, said that because Lehigh Acres had so many parcels and few restrictions on what could be built, smaller companies battled for customers. From 2004 to the end of 2006, developers completed 13,183 units in Lehigh Acres — nearly doubling the total stock of 15,216 that existed in 2000, according to Lee County figures."
The more things change, the more they don't
Excellent analysis - Geopolitics rule administrations not the other way around.
Very little change in substance in Foreign Policy.
Changes in rhetoric do not equal change in policy.
Suggest reading the whole thing
Munich and the Continuity Between the Bush and Obama Foreign Policies | Stratfor:
"While the Munich Security Conference brought together senior leaders from most major countries and many minor ones last weekend, none was more significant than U.S. Vice President Joe Biden. This is because Biden provided the first glimpse of U.S. foreign policy under President Barack Obama. Most conference attendees were looking forward to a dramatic shift in U.S. foreign policy under the Obama administration. What was interesting about Biden’s speech was how little change there has been in the U.S. position and how much the attendees and the media were cheered by it."
Very little change in substance in Foreign Policy.
Changes in rhetoric do not equal change in policy.
Suggest reading the whole thing
Munich and the Continuity Between the Bush and Obama Foreign Policies | Stratfor:
"While the Munich Security Conference brought together senior leaders from most major countries and many minor ones last weekend, none was more significant than U.S. Vice President Joe Biden. This is because Biden provided the first glimpse of U.S. foreign policy under President Barack Obama. Most conference attendees were looking forward to a dramatic shift in U.S. foreign policy under the Obama administration. What was interesting about Biden’s speech was how little change there has been in the U.S. position and how much the attendees and the media were cheered by it."
Now that the Election is over
But but but ... I thought all of this would change
On State Secrets, Obama Is Sounding Like Bush - NYTimes.com:
"In a closely watched case involving rendition and torture, a lawyer for the Obama administration seemed to surprise a panel of federal appeals judges on Monday by pressing ahead with an argument for preserving state secrets originally developed by the Bush administration."
On State Secrets, Obama Is Sounding Like Bush - NYTimes.com:
"In a closely watched case involving rendition and torture, a lawyer for the Obama administration seemed to surprise a panel of federal appeals judges on Monday by pressing ahead with an argument for preserving state secrets originally developed by the Bush administration."
Congnative Dissonance
Let's see - go to a depressed area to highlight the desperate straights of the economy and high unemployment.
But let's consider what the main business of Elkhart is - Gas Guzzling RV's. How green is that?
We're going to put you out of work, but it's too bad about unemployment ...
Al Gore on line one...
Obama visits job-starved Elkhart, Indiana - USATODAY.com:
"Layoffs are happening across the USA — but nowhere as fast as in this once-thriving area that used to be known as the 'RV Capital of the World.' One year ago unemployment in Elkhart County was at 4.7 . Today it s the highest in the nation at 15.3 fueled largely by the rapid decline in the recreational vehicle business.
On Monday President Obama traveled to this depressed northern Indiana city to highlight what s at stake as his $800-billion-plus economic stimulus bill is debated in Congress. White House spokesman Robert Gibbs said Obama wanted to go where the nation s economic problems are 'acute' as part of his 'his effort to convince Congress to move swiftly.'"
But let's consider what the main business of Elkhart is - Gas Guzzling RV's. How green is that?
We're going to put you out of work, but it's too bad about unemployment ...
Al Gore on line one...
Obama visits job-starved Elkhart, Indiana - USATODAY.com:
"Layoffs are happening across the USA — but nowhere as fast as in this once-thriving area that used to be known as the 'RV Capital of the World.' One year ago unemployment in Elkhart County was at 4.7 . Today it s the highest in the nation at 15.3 fueled largely by the rapid decline in the recreational vehicle business.
On Monday President Obama traveled to this depressed northern Indiana city to highlight what s at stake as his $800-billion-plus economic stimulus bill is debated in Congress. White House spokesman Robert Gibbs said Obama wanted to go where the nation s economic problems are 'acute' as part of his 'his effort to convince Congress to move swiftly.'"
Sunday, February 08, 2009
exceptional point
All men dream, but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity; but the dreamers of the day are dangerous men, for they may act their dream with open eyes, to make it possible.
Amen
Op-Ed Columnist, Maureen Dowd - Potomac’s Postpartisan Depression - NYTimes.com:
"Obama should have written up a kosher (as in pork-free) bill that Americans could trust — and Republicans couldn’t as easily mock — and jammed it through."
"Obama should have written up a kosher (as in pork-free) bill that Americans could trust — and Republicans couldn’t as easily mock — and jammed it through."
Tried to watch it
Fell asleep
Not a great promo for the season
NASCAR.COM : news:
Weebles wobble ... Hey we used that for our Motorcycle racing team slogan ... because they wobble, but don't fall down.
"After a record number of cautions in Saturday night's Budweiser Shootout, some drivers voiced concerns about the handling of the new car and are nervous about what could lie ahead in next week's 200-lap Daytona 500."
Not a great promo for the season
NASCAR.COM : news:
Weebles wobble ... Hey we used that for our Motorcycle racing team slogan ... because they wobble, but don't fall down.
"After a record number of cautions in Saturday night's Budweiser Shootout, some drivers voiced concerns about the handling of the new car and are nervous about what could lie ahead in next week's 200-lap Daytona 500."
Saturday, February 07, 2009
Starting to understand
At least the "Twit" part
Time for IQ checks on congress
CQ Politics | Congressman Twitters an Iraq Security Breach
"A congressional trip to Iraq this weekend was supposed to be a secret.
Time for IQ checks on congress
CQ Politics | Congressman Twitters an Iraq Security Breach
"A congressional trip to Iraq this weekend was supposed to be a secret.
But the cat’s out of the bag now, thanks to a member of the House Intelligence Committee who broke an embargo via Twitter.
A delegation led by House Minority Leader John A. Boehner , R-Ohio, arrived in Iraq earlier today, and because of Rep. Peter Hoekstra , R-Mich., the entire world — or at least Twitter.com readers—now know they’re there.
“Just landed in Baghdad,” messaged Hoekstra, a former chairman of the Intelligence panel and now the ranking member, who is routinely entrusted to keep some of the nation’s most closely guarded secrets."
Locals make good - WSJ
Likely we won't do the sleepover, it's only 30-40 min from home, but big thumbs up to Don and the crew!
Winter Wine Sleepovers - WSJ.com:
"Waffles and Wine"
Suttons Bay, Mich.
Chat up the winemaker or hole up next to the fire at Black Star Farms. Sample all of the wines in the tasting room and talk with the innkeeper at hospitality hour. Guests get a complimentary bottle of wine and a full breakfast. (The specialty is a savory root-vegetable waffle topped with shaved ham, a poached egg and hollandaise sauce.) Ask about snowshoe Saturdays and sleigh rides during the Taste the Passion weekend festival on Feb.7-8; blackstarfarms.com.
WHEN: January through March
WHERE: 10844 E. Revold Rd., Suttons Bay, Mich.
HOW MUCH: Stay one night Sunday-Thursday and your second night is 50% off; through April, a last-minute midweek special gives you a second night free."
Winter Wine Sleepovers - WSJ.com:
"Waffles and Wine"
Suttons Bay, Mich.
Chat up the winemaker or hole up next to the fire at Black Star Farms. Sample all of the wines in the tasting room and talk with the innkeeper at hospitality hour. Guests get a complimentary bottle of wine and a full breakfast. (The specialty is a savory root-vegetable waffle topped with shaved ham, a poached egg and hollandaise sauce.) Ask about snowshoe Saturdays and sleigh rides during the Taste the Passion weekend festival on Feb.7-8; blackstarfarms.com.
WHEN: January through March
WHERE: 10844 E. Revold Rd., Suttons Bay, Mich.
HOW MUCH: Stay one night Sunday-Thursday and your second night is 50% off; through April, a last-minute midweek special gives you a second night free."
Yet more reflections on a "bad week"
There was plenty of hope for change with the new Administration, but was that hope misplaced?
Who needs Rush when simple missteps do damage?
More nominations come to grief | Another two bite the dust | The Economist:
"Throughout two years of high-flown speechifying he promised to clean the Augean stables of Washington, close the revolving door between power and money and raise ethical standards. In his inaugural address, he announced the dawn of a new “era of responsibility”; on his first day in office he unveiled a package of tight ethical guidelines, though they didn’t last long.
The failure of no fewer than three nominees for high office to pay all their taxes has scrambled this message. Aren’t liberals supposed to believe that government is a good thing? And aren’t people who are being considered to run big departments supposed to be able to run their own financial affairs? (Mr Geithner, who had such trouble understanding the tax code, is now the man in charge of the Internal Revenue Service.) During the presidential campaign, Joe Biden declared that richer Americans had a patriotic duty to pay higher taxes; back in 1998 Mr Daschle opined that “tax cheaters cheat us all, and the IRS should enforce our laws to the letter.” Now Democratic insiders were giving the impression that they think that taxes are just for the little people."
And Nancy isn't happy about cuts to a 900 BILLION package
Pelosi Calls Cuts to Stimulus Bill ‘Very Damaging’ - The Caucus Blog - NYTimes.com:
And Gail opines:
Op-Ed Columnist - Tough Times at Obama Inc. - NYTimes.com:
"How could so many cabinet nominees get into trouble? The Obama transition team was supposed to be so organized! Did their seven-page questionnaire ask about Facebook pages but not tax liens?"
And from Peggy Noonan (speach writer for Regan)
Peggy Noonan Sees America Preparing for the Worst, and Republicans Suddenly Seem Serious - WSJ.com:
"Mr. Obama has a talent for reviving his enemies. He did it with Hillary Clinton, who almost beat him after his early wins, and who was given the State Department. He has now done it with Republicans on the Hill. This is very nice of him, but not in his interests. Mr. Obama should have written the stimulus bill side by side with Republicans, picked them off, co-opted their views. Did he not understand their weakness? They had no real position from which to oppose high and wasteful spending, having backed eight years of it with nary a peep.They started the struggle over the stimulus bill at a real disadvantage. Then four things: Nancy Pelosi served up old-style pork, Mr. Obama swallowed it, Republicans shocked themselves by being serious, and then they startled themselves by being unified. But it was their seriousness that was most important: They didn't know they were! They hadn't been in years!
One senses in a new way the disaster that is Nancy Pelosi. She was all right as leader of the opposition in the Bush era, opposition being joyful and she being by nature chipper. She is tough, experienced, and of course only two years ago she was a breakthrough figure, the first female speaker. But her public comments are often quite mad—we're losing 500 million jobs a month; here's some fresh insight on Catholic doctrine—and in a crisis demanding of creativity, depth and the long view, she seems more than ever a mere ward heeler, a hack, a pol. She's not big enough for the age, is she? She's not up to it."
Who needs Rush when simple missteps do damage?
More nominations come to grief | Another two bite the dust | The Economist:
"Throughout two years of high-flown speechifying he promised to clean the Augean stables of Washington, close the revolving door between power and money and raise ethical standards. In his inaugural address, he announced the dawn of a new “era of responsibility”; on his first day in office he unveiled a package of tight ethical guidelines, though they didn’t last long.
The failure of no fewer than three nominees for high office to pay all their taxes has scrambled this message. Aren’t liberals supposed to believe that government is a good thing? And aren’t people who are being considered to run big departments supposed to be able to run their own financial affairs? (Mr Geithner, who had such trouble understanding the tax code, is now the man in charge of the Internal Revenue Service.) During the presidential campaign, Joe Biden declared that richer Americans had a patriotic duty to pay higher taxes; back in 1998 Mr Daschle opined that “tax cheaters cheat us all, and the IRS should enforce our laws to the letter.” Now Democratic insiders were giving the impression that they think that taxes are just for the little people."
And Nancy isn't happy about cuts to a 900 BILLION package
Pelosi Calls Cuts to Stimulus Bill ‘Very Damaging’ - The Caucus Blog - NYTimes.com:
And Gail opines:
Op-Ed Columnist - Tough Times at Obama Inc. - NYTimes.com:
"How could so many cabinet nominees get into trouble? The Obama transition team was supposed to be so organized! Did their seven-page questionnaire ask about Facebook pages but not tax liens?"
And from Peggy Noonan (speach writer for Regan)
Peggy Noonan Sees America Preparing for the Worst, and Republicans Suddenly Seem Serious - WSJ.com:
"Mr. Obama has a talent for reviving his enemies. He did it with Hillary Clinton, who almost beat him after his early wins, and who was given the State Department. He has now done it with Republicans on the Hill. This is very nice of him, but not in his interests. Mr. Obama should have written the stimulus bill side by side with Republicans, picked them off, co-opted their views. Did he not understand their weakness? They had no real position from which to oppose high and wasteful spending, having backed eight years of it with nary a peep.They started the struggle over the stimulus bill at a real disadvantage. Then four things: Nancy Pelosi served up old-style pork, Mr. Obama swallowed it, Republicans shocked themselves by being serious, and then they startled themselves by being unified. But it was their seriousness that was most important: They didn't know they were! They hadn't been in years!
One senses in a new way the disaster that is Nancy Pelosi. She was all right as leader of the opposition in the Bush era, opposition being joyful and she being by nature chipper. She is tough, experienced, and of course only two years ago she was a breakthrough figure, the first female speaker. But her public comments are often quite mad—we're losing 500 million jobs a month; here's some fresh insight on Catholic doctrine—and in a crisis demanding of creativity, depth and the long view, she seems more than ever a mere ward heeler, a hack, a pol. She's not big enough for the age, is she? She's not up to it."
Same ol' same ol' ?
Dowd disses the new Administration
The tax evasion issue does stick in my craw
The whole "this time it's different" spiel
Is it?
From a couple of days ago:
Op-Ed Columnist - Well, That Certainly Didn’t Take Long -
"Mr. Obama admitted that “ultimately it’s important for this administration to send a message that there aren’t two sets of rules. You know, one for prominent people and one for ordinary folks who have to pay their taxes.”
It took Daschle’s resignation to shake the president out of his arrogant attitude that his charmed circle doesn’t have to abide by the lofty standards he lectured the rest of us about for two years.
Before he recanted, his hand forced by a cascade of appointees who “forgot” to pay taxes, his reasoning was creeping perilously close to that of the outgoing leaders he denounced in his Inaugural Address: that elitist mentality of “we know best,” we know we’re doing the “right” thing for the country, so we can twist the rules."
The tax evasion issue does stick in my craw
The whole "this time it's different" spiel
Is it?
From a couple of days ago:
Op-Ed Columnist - Well, That Certainly Didn’t Take Long -
"Mr. Obama admitted that “ultimately it’s important for this administration to send a message that there aren’t two sets of rules. You know, one for prominent people and one for ordinary folks who have to pay their taxes.”
It took Daschle’s resignation to shake the president out of his arrogant attitude that his charmed circle doesn’t have to abide by the lofty standards he lectured the rest of us about for two years.
Before he recanted, his hand forced by a cascade of appointees who “forgot” to pay taxes, his reasoning was creeping perilously close to that of the outgoing leaders he denounced in his Inaugural Address: that elitist mentality of “we know best,” we know we’re doing the “right” thing for the country, so we can twist the rules."
Friday, February 06, 2009
Getting further behind the curve
I've barely moved to Facebook (aka more fun than TV in the dead of winter, will you love me in September)
Now Twittering the State of the State...
Poynter Online - E-Media Tidbits:
"I even noticed tweets in this stream from a few journalists. One of them told me the experience definitely strengthened his reporting giving him a feel for how people were reacting to a very critical speech to a very economically depressed state 'It was a lot more fun than just watching it on TV and the interaction with friends and colleagues made it even better. But I think journalists basically fear oppose denigrate or can t understand the value of social networking like Twitter. It s a shame.' But he gave a nod to our tech-savvy governor: 'You have to hand it to Granholm for having an active tweet.' ...I m still wondering if this is journalism or simply very cool civic engagement. I certainly can t figure out how to monetize such an experience."
Now Twittering the State of the State...
Poynter Online - E-Media Tidbits:
"I even noticed tweets in this stream from a few journalists. One of them told me the experience definitely strengthened his reporting giving him a feel for how people were reacting to a very critical speech to a very economically depressed state 'It was a lot more fun than just watching it on TV and the interaction with friends and colleagues made it even better. But I think journalists basically fear oppose denigrate or can t understand the value of social networking like Twitter. It s a shame.' But he gave a nod to our tech-savvy governor: 'You have to hand it to Granholm for having an active tweet.' ...I m still wondering if this is journalism or simply very cool civic engagement. I certainly can t figure out how to monetize such an experience."
Thursday, February 05, 2009
Connections
Getting old and slow in my thinking
This:
The Bacon Explosion - Take Bacon. Add Sausage.
Is really all about Congress and the "Pork Project"
Sorry to say, but it's all about "bringing home the bacon"
This:
The Bacon Explosion - Take Bacon. Add Sausage.
Is really all about Congress and the "Pork Project"
Sorry to say, but it's all about "bringing home the bacon"
Banking should be boring
"Normal" bankers often weren't the best and brightest.
In short, "real" banking is a low margin business.
The trouble is that some turned it into a "glamor" business
How Banking Diversification Steered Us Wrong - BusinessWeek:
"The mess we're in started with financial theories that substituted banking innovation for due diligence and sensible regulation"
In short, "real" banking is a low margin business.
The trouble is that some turned it into a "glamor" business
How Banking Diversification Steered Us Wrong - BusinessWeek:
"The mess we're in started with financial theories that substituted banking innovation for due diligence and sensible regulation"
Traverse Bay Ice
Commentary on the Bay freezing
Traverse Bay - Traverse City
I think it is official now, but still checking
Traverse Bay - Traverse City
I think it is official now, but still checking
Unsure of the concept
Maybe for large urban areas with many neighborhoods, micro markets.
Maybe there are models for cross linkage market to market.
Not sure it works for small communities or rural.
The urban model works if you can spread the overhead cost of print and distribution.
Free Newspaper Venture Depends on Local Blogs - NYTimes.com:
"The Printed Blog, a Chicago start-up, plans to reprint blog posts on regular paper, surrounded by local ads, and distribute the publications free in big cities."
Maybe there are models for cross linkage market to market.
Not sure it works for small communities or rural.
The urban model works if you can spread the overhead cost of print and distribution.
Free Newspaper Venture Depends on Local Blogs - NYTimes.com:
"The Printed Blog, a Chicago start-up, plans to reprint blog posts on regular paper, surrounded by local ads, and distribute the publications free in big cities."
Tuesday, February 03, 2009
The more things change, the more they don't
I hate to see nit's being picked, but if we are to have true change, let's not excuse past behavior.
Obama’s Ethics Reform Pledge Faces an Early Test - NYTimes.com:
"Katrina vanden Heuvel, editor of The Nation, a liberal magazine, said Mr. Obama should withdraw Mr. Daschle’s nomination to “revive the change brand he campaigned and won on.”
Mr. Obama is running into crosscurrents that bedeviled his predecessors. Jimmy Carter promised a new day in Washington after Watergate but still found top associates caught up in scandal. Bill Clinton promised “the most ethical administration in history” and then endured the most independent counsel investigations in history. Mr. Bush vowed a new era of responsibility only to be accused of selling out to energy and military industries."
Obama’s Ethics Reform Pledge Faces an Early Test - NYTimes.com:
"Katrina vanden Heuvel, editor of The Nation, a liberal magazine, said Mr. Obama should withdraw Mr. Daschle’s nomination to “revive the change brand he campaigned and won on.”
Mr. Obama is running into crosscurrents that bedeviled his predecessors. Jimmy Carter promised a new day in Washington after Watergate but still found top associates caught up in scandal. Bill Clinton promised “the most ethical administration in history” and then endured the most independent counsel investigations in history. Mr. Bush vowed a new era of responsibility only to be accused of selling out to energy and military industries."
Monday, February 02, 2009
Volcano watch
If this one goes, Punxsutawney Phil will be proven right, in spades.
Alaska Volcano Observatory - Redoubt - Activity Page
Big volcano will throw ash and vapor far into the atmosphere
Midwest and NorthEast are "downwind" and will get more cold weather, maybe a lot more.
Near term good little tool for earthquake tracking
Recent Earthquakes
Alaska Volcano Observatory - Redoubt - Activity Page
Big volcano will throw ash and vapor far into the atmosphere
Midwest and NorthEast are "downwind" and will get more cold weather, maybe a lot more.
Near term good little tool for earthquake tracking
Recent Earthquakes
Sunday, February 01, 2009
Boo Hoo ... Not
Sorry, but I can't really feel all that sorry.
Fisher Island - Still a Refuge, but Not From the Downturn - NYTimes.com:
"But even here, a haven for wealthy families since the late 1980s, the economic storms are bearing down. About a quarter of the island’s 695 condos are up for sale, roughly double the number on the market in recent years, and few are finding buyers. Sellers are cutting prices, brokers say, and one unit is in foreclosure, a surprise to some residents of a place where home prices range from $335,000 to $30 million."
Fisher Island - Still a Refuge, but Not From the Downturn - NYTimes.com:
"But even here, a haven for wealthy families since the late 1980s, the economic storms are bearing down. About a quarter of the island’s 695 condos are up for sale, roughly double the number on the market in recent years, and few are finding buyers. Sellers are cutting prices, brokers say, and one unit is in foreclosure, a surprise to some residents of a place where home prices range from $335,000 to $30 million."
For Tom Daschel
Daschle Knew of Tax Issues Over Car Use Last June
And so it begins
"As Senate Democrats rushed to save the nomination of Mr. Daschle, their former leader, the White House spent the day trying to explain how he survived its vetting process despite his failure to pay $128,000 in taxes.
“It’s totally shocking,” an aide to a Democratic senator said Saturday. “Why do we have to continue to have the same story over and over again with these nominees?”
and
Representative Eric Cantor of Virginia, the party whip, had this to say after hearing the news about Mr. Daschle: “It is easy for the other side to advocate for higher taxes because — you know what? — they don’t pay them.”"
And so it begins
"As Senate Democrats rushed to save the nomination of Mr. Daschle, their former leader, the White House spent the day trying to explain how he survived its vetting process despite his failure to pay $128,000 in taxes.
“It’s totally shocking,” an aide to a Democratic senator said Saturday. “Why do we have to continue to have the same story over and over again with these nominees?”
and
Representative Eric Cantor of Virginia, the party whip, had this to say after hearing the news about Mr. Daschle: “It is easy for the other side to advocate for higher taxes because — you know what? — they don’t pay them.”"
Saturday, January 31, 2009
Potential weather changer
Alaska Volcano Observatory - Redoubt - Activity Page
This volcano, if it erupts big, could influence weather from the upper Midwest to the North East.
Alaska and Russian (Kamkatcha) volcano's may have helped drive near record cold winter in the upper Midwest this season.
Will we have "year without summer" ???
Combined with ongoing dearth of sunspots
'scuse me, Al Gore on line 2
This volcano, if it erupts big, could influence weather from the upper Midwest to the North East.
Alaska and Russian (Kamkatcha) volcano's may have helped drive near record cold winter in the upper Midwest this season.
Will we have "year without summer" ???
Combined with ongoing dearth of sunspots
'scuse me, Al Gore on line 2
Cats
Yes, there are cougars in Michigan, witnesses tell panel | Freep.com
The long-running campaign to force the Department of Natural Resources to recognize the wild cougar population in Michigan arrived at the state Legislature Thursday morning, as a Senate committee took testimony from a dozen eyewitnesses and experts who claimed evidence of the animals’ presence is indisputable.
Cougars have been seen by hundreds of people in Michigan over the last 25 years, filmed and photographed, their tracks and droppings confirmed by scientists and attacks on livestock documented, the witnesses said.
Michigan has "a bonafide resident ... self-sustaining cougar population," said Pat Rusz, research biologist with the Michigan Wildlife Conservancy.
But the DNR refuses to acknowledge their presence, and discredits and ridicules assertions to the contrary, he said.
Apparently the DNR says they come from the Dakota's
Guess they are just "passing through"
The long-running campaign to force the Department of Natural Resources to recognize the wild cougar population in Michigan arrived at the state Legislature Thursday morning, as a Senate committee took testimony from a dozen eyewitnesses and experts who claimed evidence of the animals’ presence is indisputable.
Cougars have been seen by hundreds of people in Michigan over the last 25 years, filmed and photographed, their tracks and droppings confirmed by scientists and attacks on livestock documented, the witnesses said.
Michigan has "a bonafide resident ... self-sustaining cougar population," said Pat Rusz, research biologist with the Michigan Wildlife Conservancy.
But the DNR refuses to acknowledge their presence, and discredits and ridicules assertions to the contrary, he said.
Apparently the DNR says they come from the Dakota's
Guess they are just "passing through"
Sunday, January 25, 2009
I'll drink to that ... too
I guess I'll "pass" on a comment
Drunk as a Skunk … or a Wild Monkey … or a Pig - Proof Blog - NYTimes.com:
"A large variety of creatures consume alcohol in the wild, ranging from bumble-bees to elephants. Hooch finds its way into their diets via the fermenting fruit, sap and nectar of various plants, and many exhibit signs of inebriation after they’ve enjoyed a good feed. Their weakness for the substance au naturel is understandable: ethanol is a rich food, with 75 percent more calories than refined sugar, and its distinctive aroma makes it easy to locate."
Drunk as a Skunk … or a Wild Monkey … or a Pig - Proof Blog - NYTimes.com:
"A large variety of creatures consume alcohol in the wild, ranging from bumble-bees to elephants. Hooch finds its way into their diets via the fermenting fruit, sap and nectar of various plants, and many exhibit signs of inebriation after they’ve enjoyed a good feed. Their weakness for the substance au naturel is understandable: ethanol is a rich food, with 75 percent more calories than refined sugar, and its distinctive aroma makes it easy to locate."
I'll drink to that
And all along I thought it was good to keep awake.
(as well as having lots of anti-oxidants)
Coffee Linked to Lower Dementia Risk - NYTimes.com:
"Drinking coffee may do more than just keep you awake. A new study suggests an intriguing potential link to mental health later in life, as well."
(as well as having lots of anti-oxidants)
Coffee Linked to Lower Dementia Risk - NYTimes.com:
"Drinking coffee may do more than just keep you awake. A new study suggests an intriguing potential link to mental health later in life, as well."
Half Dozen Blunders
I can buy into this list, esp. things like leverage.
Trouble was that Banking was/is, at it's core, a low margin business.
Bankers wanted it to be a sexy, high margin business.
For a while, something like 40% of corporate earnings came from finance.
Leverage = Risk.
Economic View - Six Errors on the Path to the Financial Crisis - NYTimes.com
"The second error came in 2004, when the S.E.C. let securities firms raise their leverage sharply. Before then, leverage of 12 to 1 was typical; afterward, it shot up to more like 33 to 1. What were the S.E.C. and the heads of the firms thinking? Remember, under 33-to-1 leverage, a mere 3 percent decline in asset values wipes out a company. Had leverage stayed at 12 to 1, these firms wouldn’t have grown as big or been as fragile."
Trouble was that Banking was/is, at it's core, a low margin business.
Bankers wanted it to be a sexy, high margin business.
For a while, something like 40% of corporate earnings came from finance.
Leverage = Risk.
Economic View - Six Errors on the Path to the Financial Crisis - NYTimes.com
"The second error came in 2004, when the S.E.C. let securities firms raise their leverage sharply. Before then, leverage of 12 to 1 was typical; afterward, it shot up to more like 33 to 1. What were the S.E.C. and the heads of the firms thinking? Remember, under 33-to-1 leverage, a mere 3 percent decline in asset values wipes out a company. Had leverage stayed at 12 to 1, these firms wouldn’t have grown as big or been as fragile."
Saturday, January 24, 2009
Scams
Forbes magazine ...
Five Legal Scams
Five Legal Scams
How is it that many Wall Streeters are prosperous at a time when 401(k)s are decimated? Some insiders are, to be sure, losing bonus pay or even looking at a pink slip. But the money management crowd is still doing pretty well for itself, extracting at least $300 billion a year for carving up our meager economic pie.
The Wall Street bag contains, as I count them, five tricks. If you understand them well, you will hesitate before engaging the next high-priced investment genius to pick stocks for you. You might even take the advice we have often offered, that you put a large chunk of your retirement money in low-cost index funds.
Longtime readers of FORBES will see some familiar themes here; a few of the games have been played for decades. I am inspired to revisit the topic after spending some time with Nassim Taleb, the financier-philosopher profiled by Robert Langreth. More than anyone else I have met, Taleb understands the portfolio tricks that turn dumb luck into something that looks like skill.
Taleb does not entirely agree with my taxonomy. Where I see five kinds of mischief, this holistic thinker sees only two: asymmetry and risk hiding. But you need to read Taleb's last two books (Fooled by Randomness and The Black Swan) to understand those concepts. With that caveat, here are the five ways that money managers enrich themselves.
Russian roulette. Say a strategy yields above-average returns for nine years and a catastrophic loss in the tenth. This is a formula for wealth--if you are playing with other people's money. Collect a handsome fee during the good years and then shrug off the tenth.
You could get this profile of wins and losses by insuring levees in New Orleans. On Wall Street you get it selling naked put options, buying junk bonds or operating Long-Term Capital Management. In all these cases, the money manager succeeds by sweeping risk under the rug. Taleb's preferred name for this game is the Rubin Play, in honor of a well-compensated executive at a bank that needed to be bailed out.
Monkeys at the keyboard. Hand out 100 trading terminals and after a time the operator of one will emerge as an apparent genius. Collect a fee on the monkey feeder fund.
Streaking. Almost any investing style--small stocks, emerging markets, momentum--will have a winning streak, lasting 5 to 12 years. At an opportune moment, compare your results with the overall market's.
Oh Deer
More filler
But I'd intended to post this anyway
Family that comes buy at least a couple of times a day
Back when Shirley was feeding them, we'd get a dozen or more at a time
But I'd intended to post this anyway
Family that comes buy at least a couple of times a day
Back when Shirley was feeding them, we'd get a dozen or more at a time
Lots of good viewing/listening
TED conference videos
TED | Talk | Tag | Food
Many many other topics
So far, everyone I've seen has been "worth watching"
TED | Talk | Tag | Food
Many many other topics
So far, everyone I've seen has been "worth watching"
Photos
Posting some photos from a snowshoe hike a couple of weeks ago, mostly to help scroll down the Wyeth images - rather than fiddling to re-size them.
These were taken around North Bar Lake, Sleeping Bear National Lakeshore, north of Empire.
These were taken around North Bar Lake, Sleeping Bear National Lakeshore, north of Empire.
Passing
Portrait of his father by Jamie Wyeth
Shirley posted nice tribute here
I have always been fond of Andrew's work, in part because he had done so much with browns, greys and the colors of winter.
Such as : Snow Hill, started in his 70'th year
Chadds Ford Gallery:
“This is not just a pleasant picture,” says Andrew Wyeth. “It’s a culmination. These are all people I’ve painted in the past”. His models - neighbors all - dance around a winter maypole in gleeful anticipation of Andrew Wyeth’s death. “When I worked, I raised hell with them mentally and emotionally,” he says. “They wish I were dead, so they wouldn’t have to pose anymore.” The models Karl and Anna Kuerner, Helga Testorf, Bill Loper, Allan Lynch and Adam Johnson are dancing on top of the Kuerners’ hill in view of all the locations where they lived and were painted by Andrew Wyeth. The empty streamer represents the artist who once said, “I wish I could be invisible when I’m painting.”"
Along with Russel Chatham, Andrew's work has influenced my eye, sometimes my photography
Friday, January 23, 2009
And so it begins
Obama signs document to close Guatanamo yesterday
Now the NYTimes raises questions.
Not like the Times is a Republican mouthpiece.
Freed by U.S., Saudi Becomes a Qaeda Chief - NYTimes.com:
"A Yemeni journalist who interviewed Al Qaeda’s leaders in Yemen last year, Abdulela Shaya, confirmed Thursday that the deputy leader was indeed Mr. Shihri, the former Guantanamo detainee. Mr. Shaya, in a phone interview, said Mr. Shihri had described to him his journey from Cuba to Yemen and supplied his Guant�namo detention number, 372. That is the correct number, Pentagon documents show.
“It seems certain from all the sources we have that this is the same individual who was released from Guantanamo in 2007,” said Gregory Johnsen, a terrorism analyst and the editor of a forthcoming book, “Islam and Insurgency in Yemen.”"
Now the NYTimes raises questions.
Not like the Times is a Republican mouthpiece.
Freed by U.S., Saudi Becomes a Qaeda Chief - NYTimes.com:
"A Yemeni journalist who interviewed Al Qaeda’s leaders in Yemen last year, Abdulela Shaya, confirmed Thursday that the deputy leader was indeed Mr. Shihri, the former Guantanamo detainee. Mr. Shaya, in a phone interview, said Mr. Shihri had described to him his journey from Cuba to Yemen and supplied his Guant�namo detention number, 372. That is the correct number, Pentagon documents show.
“It seems certain from all the sources we have that this is the same individual who was released from Guantanamo in 2007,” said Gregory Johnsen, a terrorism analyst and the editor of a forthcoming book, “Islam and Insurgency in Yemen.”"
Thursday, January 22, 2009
OK, How Bad is it
According to the politicians and the media, we are entering the worst economic times since the Great Depression
Well, maybe, maybe not.
Maybe things have been too good for too long for anyone to remember.
Or maybe, just maybe there is a method to the madness, a bit of politics at play?
We just finished a political year when there was no candidate with a vested interest in the upside, all was on the downside.
I will grant that there was much wrong, and much wrong-doing, rampant greed on Wall St.
But will the turn, when it comes be all the new administrations doing?
Time will tell
Economic Scene - The Economy Is Bad, but 1982 Was Worse -
"You often hear that we are now living through the worst recession since the early 1980s, and the comparison is not wrong. But it’s ultimately unsatisfying, because it is a little too vague to be useful."
Well, maybe, maybe not.
Maybe things have been too good for too long for anyone to remember.
Or maybe, just maybe there is a method to the madness, a bit of politics at play?
We just finished a political year when there was no candidate with a vested interest in the upside, all was on the downside.
I will grant that there was much wrong, and much wrong-doing, rampant greed on Wall St.
But will the turn, when it comes be all the new administrations doing?
Time will tell
Economic Scene - The Economy Is Bad, but 1982 Was Worse -
"You often hear that we are now living through the worst recession since the early 1980s, and the comparison is not wrong. But it’s ultimately unsatisfying, because it is a little too vague to be useful."
Wednesday, January 21, 2009
New mantra
Due to a "Facebook" exchange, I've decided that (fitting my devout and practicing non partisan politics) ... I'm a Revel without a Cause
Party time for most any good reason
Oh yeah - deep winter here, may color my attitude
Party time for most any good reason
Oh yeah - deep winter here, may color my attitude
Winter Weather
Listening to local TV Weather while working on other tasks
Data point: within 24 hrs, nearby area (around Belair Mich.) had nearly 50 degree temperature swing : from over 20 below to mid 20's above.
Data point: within 24 hrs, nearby area (around Belair Mich.) had nearly 50 degree temperature swing : from over 20 below to mid 20's above.
Monday, January 19, 2009
I guess it was bound to happen
Maybe it was too good to be true.
Sad to say, but
2009 Legend of the Motorcycle postponed
Hope it comes back next year
But this maybe makes some other travel plans easier...
Sad to say, but
2009 Legend of the Motorcycle postponed
Hope it comes back next year
But this maybe makes some other travel plans easier...
Sunday, January 18, 2009
Insightful
Getting caught up from a rather full week.
Starting to go over my notes, and refreshed myself by visiting Baker's Blog : Bakers Green Acres
Mark and Jill (and family) supply protein for Cherry Capital Foods (mostly poultry).
We visited on the way back from Lansing last Tues
Despite near blizzard conditions (mostly the wind) we had good talk about business, and delicious lunch of home-made chicken soup (of course) with chicken and goat "hot-dogs" muffins and cider... yum.
Thanks Jill!
Starting to go over my notes, and refreshed myself by visiting Baker's Blog : Bakers Green Acres
Mark and Jill (and family) supply protein for Cherry Capital Foods (mostly poultry).
We visited on the way back from Lansing last Tues
Despite near blizzard conditions (mostly the wind) we had good talk about business, and delicious lunch of home-made chicken soup (of course) with chicken and goat "hot-dogs" muffins and cider... yum.
Thanks Jill!
Saturday, January 17, 2009
Eternal truth
Movie P.S I love you
Harry Connick to Hillary Swank (approx quote)
"Us guys are so clueless, we don't know if you want us to come on strong or not, to make the first move or not, to be on top or bottom"
Hillary whispers in his ear "I'll tell you the secret ...we have no clue what we want ..."
Harry Connick to Hillary Swank (approx quote)
"Us guys are so clueless, we don't know if you want us to come on strong or not, to make the first move or not, to be on top or bottom"
Hillary whispers in his ear "I'll tell you the secret ...we have no clue what we want ..."
New Blog to follow
If Doc likes it, it's almost dead certain to be good.
Framing - right on.
Erik Cecil’s Blog:
"New Framing. Doc Searls is one of the smartest lawyers I’ve ever known. It’s probably because he’s not a lawyer that he’s such a damn good lawyer. He’s good because he Gets It. “It” are the details that matter. Truth is, very few details ever really matter; the rest is noise. Blogshpere and the Internet is, in many respects, detail replicating itself utterly out of control without much in the way of meaning, reflection, creativity, authenticity, humiliy or love. Yes. Love. It matters. Doc sees the things few others see; he sees what I only began to see after taking on the machine in 100 days of hearings across 30 or so states pitting the innovation engine (and sometime echo chamber) we call the Internet against “the way things have been.” He clued me in to the power of framing. I can tell you from a regulatory litigator’s perspective, having tested this for about a dozen years before the FCC, every single state public utility commission in the nation and in many federal courts, there are few things that I care about more than framing. Basically, if your framing is superior you win. Period. Great lawyers get this. And so does Doc Searls."
Framing - right on.
Erik Cecil’s Blog:
"New Framing. Doc Searls is one of the smartest lawyers I’ve ever known. It’s probably because he’s not a lawyer that he’s such a damn good lawyer. He’s good because he Gets It. “It” are the details that matter. Truth is, very few details ever really matter; the rest is noise. Blogshpere and the Internet is, in many respects, detail replicating itself utterly out of control without much in the way of meaning, reflection, creativity, authenticity, humiliy or love. Yes. Love. It matters. Doc sees the things few others see; he sees what I only began to see after taking on the machine in 100 days of hearings across 30 or so states pitting the innovation engine (and sometime echo chamber) we call the Internet against “the way things have been.” He clued me in to the power of framing. I can tell you from a regulatory litigator’s perspective, having tested this for about a dozen years before the FCC, every single state public utility commission in the nation and in many federal courts, there are few things that I care about more than framing. Basically, if your framing is superior you win. Period. Great lawyers get this. And so does Doc Searls."
Friday, January 16, 2009
Windshield time
A bit more of this stuff this week than I really need.
Tues with Marc and Steve through worse, to visit protein supplier for Cherry Capital Foods
Wed into TC for early meetings on CCF
Thurs for TBEDC board, then up to supplier by Charlovoix, back to Frankfort for Food program.
Did not pull camera out for some of the real white-outs
Tues with Marc and Steve through worse, to visit protein supplier for Cherry Capital Foods
Wed into TC for early meetings on CCF
Thurs for TBEDC board, then up to supplier by Charlovoix, back to Frankfort for Food program.
Did not pull camera out for some of the real white-outs
Wednesday, January 14, 2009
Yum
Specials - Pangea's Pizza
Tokyo Shrimp Tempura
Tempura fried shrimp, carrots, mushrooms, green peppers, with an orange ginger glaze and wasabi mayo
Tokyo Shrimp Tempura
Tempura fried shrimp, carrots, mushrooms, green peppers, with an orange ginger glaze and wasabi mayo
Sunday, January 11, 2009
Build them, but will folks buy?
What if they don't ?
Will Detroit get blamed ?
Detroit Goes for Electric Cars, but Will Drivers? :
"These are risky bets. There are no guarantees that consumers — for all their stated concerns about global warming, dependence on foreign oil and unpredictable gas prices — will buy enough of them. They may balk, for example, at the limits on how far they can drive on a single charge."
Will Detroit get blamed ?
Detroit Goes for Electric Cars, but Will Drivers? :
"These are risky bets. There are no guarantees that consumers — for all their stated concerns about global warming, dependence on foreign oil and unpredictable gas prices — will buy enough of them. They may balk, for example, at the limits on how far they can drive on a single charge."
Saturday, January 10, 2009
Wait a min...
I thought the whole Wall St. Mess was all Bush's fault
Loosen regulation
Encourage a major institution to step up risky trading in mortgage-related instruments?
And by the way, take some $126 million in pay and bonus's
Rubin Leaving Citigroup:
"For Mr. Rubin, his resignation is a sobering turn in a sterling career in Washington and on Wall Street. Since joining Citigroup in 1999 as an adviser to the bank’s senior executives, Mr. Rubin, 70, who is an economic adviser on the transition team of President-elect Barack Obama, has sat atop a bank that has made one misstep after another.
When he was Treasury secretary during the Clinton administration, Mr. Rubin helped loosen Depression-era banking regulations that made the creation of Citigroup possible. During the same period, he helped beat back tighter oversight of exotic financial products, a development he had previously said he was helpless to prevent.
In his capacity as a senior adviser to Citigroup’s top executives and board, he pushed hard for the bank to step up its trading of risky mortgage-related securities and other complex investments as long as it improved oversight — a strategy critics say sowed the seeds of the bank’s current troubles. Mr. Rubin, whose contract specifically absolved him from daily operational responsibilities, has maintained that he could not have foreseen the current mess."
Loosen regulation
Encourage a major institution to step up risky trading in mortgage-related instruments?
And by the way, take some $126 million in pay and bonus's
Rubin Leaving Citigroup:
"For Mr. Rubin, his resignation is a sobering turn in a sterling career in Washington and on Wall Street. Since joining Citigroup in 1999 as an adviser to the bank’s senior executives, Mr. Rubin, 70, who is an economic adviser on the transition team of President-elect Barack Obama, has sat atop a bank that has made one misstep after another.
When he was Treasury secretary during the Clinton administration, Mr. Rubin helped loosen Depression-era banking regulations that made the creation of Citigroup possible. During the same period, he helped beat back tighter oversight of exotic financial products, a development he had previously said he was helpless to prevent.
In his capacity as a senior adviser to Citigroup’s top executives and board, he pushed hard for the bank to step up its trading of risky mortgage-related securities and other complex investments as long as it improved oversight — a strategy critics say sowed the seeds of the bank’s current troubles. Mr. Rubin, whose contract specifically absolved him from daily operational responsibilities, has maintained that he could not have foreseen the current mess."
Thursday, January 08, 2009
Degrees of seperation
So
Yesterday the winter edition of Oberlin College Alumni Association magazine comes, with cover story on Eric Bogosian
class of '76 (half dozen after what I would have been if I'd stayed), and once of my favorite actors."Brooding is bad...Threatening is good."
Last movie I saw him in was Cadillac Records, where he plays Alan Freed
Cadillac Records is "history" of Chess Records, home to artists such as Muddy Waters, Chuck Berry.
The #1 back up for Chuck was Bob Baldori.
We're headed to see a concert with him Sat.
OK
But turns out that friend and business partner was introduced to Bob (both Italian-Americans) and he invested in one of Bob's projects: Boogie Stomp: Short documentary reveals history of boogie-woogie
Just weird set of connections
Yesterday the winter edition of Oberlin College Alumni Association magazine comes, with cover story on Eric Bogosian
class of '76 (half dozen after what I would have been if I'd stayed), and once of my favorite actors."Brooding is bad...Threatening is good."
Last movie I saw him in was Cadillac Records, where he plays Alan Freed
Cadillac Records is "history" of Chess Records, home to artists such as Muddy Waters, Chuck Berry.
The #1 back up for Chuck was Bob Baldori.
We're headed to see a concert with him Sat.
OK
But turns out that friend and business partner was introduced to Bob (both Italian-Americans) and he invested in one of Bob's projects: Boogie Stomp: Short documentary reveals history of boogie-woogie
Just weird set of connections
Tuesday, January 06, 2009
What can I say?
Father daughter dance at her wedding
Segue "Young at Heart" to "That's Life"
Facebook | Cuckoo Savante
"…Another Irish act to keep a keen eye on are Cuckoo Savante, a Galway band of mixed sexual orientations who peddle a brand of music they call Hurdy-Gurdy Gothique Electra Loungeporn and boast a queer lead singer, one Jaime Nanci, who comes on like Marc Almond channelling the ghost of Nina Simone. He's got star written all over him…."
Segue "Young at Heart" to "That's Life"
Facebook | Cuckoo Savante
"…Another Irish act to keep a keen eye on are Cuckoo Savante, a Galway band of mixed sexual orientations who peddle a brand of music they call Hurdy-Gurdy Gothique Electra Loungeporn and boast a queer lead singer, one Jaime Nanci, who comes on like Marc Almond channelling the ghost of Nina Simone. He's got star written all over him…."
Monday, January 05, 2009
Down (on) Pat
Newsweek last June:
Christopher Hitchens takes apart Pat Buchanan and his book Churchill, Hitler and the Unnecessary War.
Pat ends up as an apologist for Hitler.
And to think he even ran for President.
Christopher Hitchens takes apart Pat Buchanan and his book Churchill, Hitler and the Unnecessary War.
Pat ends up as an apologist for Hitler.
And to think he even ran for President.
Sunday, January 04, 2009
Quotable
Caught this on NPR yesterday:
Lenoard Bernstein:
"To achieve great things, two things are needed; a plan, and not quite enough time."
Lenoard Bernstein:
"To achieve great things, two things are needed; a plan, and not quite enough time."
Thursday, January 01, 2009
Visit
It was hard to get much of a shot, when ever we moved, even inside it would fly away
Part of the day we had a pair.
Looks like coyotes took down a deer last night
Crows, hawk and the Eagles were getting a New Year treat
Part of the day we had a pair.
Looks like coyotes took down a deer last night
Crows, hawk and the Eagles were getting a New Year treat
Tuesday, December 30, 2008
Feeling Old(er)
First, because all of these start in the 60's and 70's
Fark ... I tend to think much of the great (Rock) was done by the 80's
Dates me!
I'd likely drop the no repeats rule, like use Yardbirds, Cream and Clapton solo's
Would also layer in a bunch of Jazz, some "folk", blues, bluegrass, C&W
An Album For Each Year Of My Life
"There’s a new meme traversing the Internet. It involves compiling a list of albums (long play records) for each year of your life. In my case there’s 36 years of albums to choose from, going all the way back to 1972. One further rule is that you’re not allowed to pick an artist/band more than once: so no picking Prince for Purple Rain in 1984 and also for Sign O’ The Times in 1987."
More:
I'm likely closest to Werner:
An Album for Each Year - All Things Distributed
CTO for Amazon
I would get to reach back to stuff like this (I would get to push back a bit more ...)
Birth of the Cool - Wikipedia, the free encyclopedia
Fark ... I tend to think much of the great (Rock) was done by the 80's
Dates me!
I'd likely drop the no repeats rule, like use Yardbirds, Cream and Clapton solo's
Would also layer in a bunch of Jazz, some "folk", blues, bluegrass, C&W
An Album For Each Year Of My Life
"There’s a new meme traversing the Internet. It involves compiling a list of albums (long play records) for each year of your life. In my case there’s 36 years of albums to choose from, going all the way back to 1972. One further rule is that you’re not allowed to pick an artist/band more than once: so no picking Prince for Purple Rain in 1984 and also for Sign O’ The Times in 1987."
More:
I'm likely closest to Werner:
An Album for Each Year - All Things Distributed
CTO for Amazon
I would get to reach back to stuff like this (I would get to push back a bit more ...)
Birth of the Cool - Wikipedia, the free encyclopedia
The Clash
Published first in Foreign Affairs in '93, his thesis was rebutted by Mr. Ajamai, who now has had second thoughts.
Fouad Ajami: Samuel Huntington's Warning - WSJ.com:
"The last of Samuel Huntington's books -- 'Who Are We? The Challenges to America's National Identity,' published four years ago -- may have been his most passionate work. It was like that with the celebrated Harvard political scientist, who died last week at 81. He was a man of diffidence and reserve, yet he was always caught up in the political storms of recent decades."
Original revision here: ( with links to original review and original article )
The Clash - Essay by Fouad Ajami - New York Times:
"It would have been unlike Samuel P. Huntington to say “I told you so” after 9/11. He is too austere and serious a man, with a legendary career as arguably the most influential and original political scientist of the last half century — always swimming against the current of prevailing opinion."
Fouad Ajami: Samuel Huntington's Warning - WSJ.com:
"The last of Samuel Huntington's books -- 'Who Are We? The Challenges to America's National Identity,' published four years ago -- may have been his most passionate work. It was like that with the celebrated Harvard political scientist, who died last week at 81. He was a man of diffidence and reserve, yet he was always caught up in the political storms of recent decades."
Original revision here: ( with links to original review and original article )
The Clash - Essay by Fouad Ajami - New York Times:
"It would have been unlike Samuel P. Huntington to say “I told you so” after 9/11. He is too austere and serious a man, with a legendary career as arguably the most influential and original political scientist of the last half century — always swimming against the current of prevailing opinion."
Sunday, December 28, 2008
Electrified
Power out today, big wind early AM, power out sometime around 5:30-6:30
I learned that I miss multi-tasking, reading online, typing, while the TV is on, news or news type show, interviews etc.
Turned the pages of some great old Sci-Fi Shirley gave me for Christmas, took a well deserved nap (or two) kept the generator fueled etc.
So much for the simple life ...
I learned that I miss multi-tasking, reading online, typing, while the TV is on, news or news type show, interviews etc.
Turned the pages of some great old Sci-Fi Shirley gave me for Christmas, took a well deserved nap (or two) kept the generator fueled etc.
So much for the simple life ...
Saturday, December 27, 2008
Bit o' politics
William Blake
"To be an Error and to be Cast out is a part of God’s Design," wrote the visionary poet William Blake. Error, whether random or deliberate, must become an integral part of any process of creation. Evolution can be thought of as systematic error management.
On to Dick Armey:
Nov 5th 2008 - CNBC
"Biggest problem for Republicans was several years of acting as if they didn’t understand who they were on the on the American political scene…
The American Voter expects the Republican party to be the party of individual liberty and small government conservatism, and this party has for the last several years not been that party. So if the choice is the Democratic Party with big government and collective mentality or the Republicans that act like that, why not take the Real McCoy?"
So, did the Republicans stray from their "true path" and can they recover, or will they become a party of the past?
"To be an Error and to be Cast out is a part of God’s Design," wrote the visionary poet William Blake. Error, whether random or deliberate, must become an integral part of any process of creation. Evolution can be thought of as systematic error management.
On to Dick Armey:
Nov 5th 2008 - CNBC
"Biggest problem for Republicans was several years of acting as if they didn’t understand who they were on the on the American political scene…
The American Voter expects the Republican party to be the party of individual liberty and small government conservatism, and this party has for the last several years not been that party. So if the choice is the Democratic Party with big government and collective mentality or the Republicans that act like that, why not take the Real McCoy?"
So, did the Republicans stray from their "true path" and can they recover, or will they become a party of the past?
December thaw
We've gone from good winter weather, mid 20's daily snow to near total melt, warm rain.
We were pretty much caught up from travels, and ready for a weekend of XC skiing or snowshoeing, but overnight the temps kept climbing.
Foot of snow gone by morning, thick fog (sometimes visibility of nil)
Cruised down the road to check the Crystal:
River in Full
Another shot:
We were pretty much caught up from travels, and ready for a weekend of XC skiing or snowshoeing, but overnight the temps kept climbing.
Foot of snow gone by morning, thick fog (sometimes visibility of nil)
Cruised down the road to check the Crystal:
River in Full
Another shot:
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