But in the meantime, we are giving them free stuff! You see, the only reason that they are making loans to Greece is to (ponzi) conceal the fact (ponzi) that they cannot be paid back (ponzi), not under any circumstances ponzi ponzi ponzi. Loans on top of loans. The whole thing is just ridiculous. This is the world’s strongest can, because it has literally been kicked for thousands of miles.
See this chart? This should neverhappen. And it doesn’t happen, in a non-ponzi world. In a non-ponzi world, when interest rates get to 14%, there is a default. The only way interest rates get to 80% is if you ponzi the thing and shovel good money after bad. Think about it. Did you see charts like this in Argentina and Russia? No. They just gave you the bird and didn’t pay you back.
So Greece is basically a ward of the European Union, everyone else, principally Germany, is just going to pay money to keep them around, because the alternative, which is to admit that the euro was a bad idea, is too terrible. Remember what governments do: they save face, at all costs. They will go to war to save face. They will literally kill people to save face.
**********************************************************************************
One of the big stories this year has been Rare-Earth metals. China holds almost all of them and they don't want to share with the rest of the world. If I was China, I wouldn't sell them for worthless paper either.
Ways Around China's Rare-Earth Monopoly
China’s stranglehold on rare earth production is so severe that the U.S. House Committee on Foreign Affairs is having a hearing today addressing the issue.
China’s control of rare earths has been compared to the Middle East’s control of oil. The WTO has ruled against their export restrictions, but China appealed.
Now rare earths have become a major supply chain risk to the automobile, electronics, camera, medical equipment, and defense industries. They are crucial components in almost all "smart" technology and are essential for making batteries and magnets.
Then, what is the next step for businesses? There are three big options for most organizations that depend on rare earths:
Be like Toyota, and begin investing in innovations that do not rely on rare earths; new ideas take time to perfect so the earlier a business gets started, the better
Develop recycling technologies like Hitachi to extract and reuse the tons of rare earths that are being thrown away everyday in the form of used or out-dated products; or
Move to mainland China like Boston-Power Inc. to duck under a possible embargo. But be prepared for other interruptions as you take orders from Beijing.
Toyota has joined Tesla to reinvent their electric vehicle engine and battery to not use rare earths. Hitachi spent $1.5 million on research project slashing open old compressors for reusable magnets and rare earths. Boston-Power Inc., which manufactures batteries companies like Saab, has had to move all of their manufacturing operations to China, leaving only R&D and customer service stateside. They may be the first, but soon Apple, GE, and even the U.S. Department of Defense as well as many others all need to reconsider their dependence on rare earths.
As our supply chain risk increases, it's about time we think about reinventing the wheel, or the battery in this case. Otherwise, it may be time to go to the mattresses and prepare for the coming "Mineral War."
**********************************************************************************
I always figured Buffett was a conservative. I don't know if he's always been this way or changed since he made a deal with the devil. Did he really sell his soul for a bailout of Berkshire? You know he thinks the "rich" should pay more taxes. The last time I checked, nothing is stopping him from writing a big check to Uncle Barry.
Warren Buffett to host fundraiser for Obama in Chicago
Billionaire U.S. investor Warren Buffett will help raise money for President Barack Obama's re-election effort at a $35,800-a-ticket fundraiser next month in Chicago, an Obama campaign official said on Wednesday.
Buffett will attend the Oct. 27 event at a private home on Chicago's North Shore that is expected to include major donors to Obama's 2008 presidential run. The Democratic president, who is not expected to attend, is running for re-election in 2012.
Buffett, the legendary chairman of Berkshire Hathaway Inc., has landed in the center of a growing political battle over Obama's proposal to raise taxes on the wealthy by inspiring the so-called "Buffett Rule."
Buffett wrote a column for The New York Times in August saying rich people like him often pay less in taxes than those who work for them because of loopholes in the tax code, and can afford to pay more.
Obama cited Buffett on Monday in proposing a minimum tax rate for people earning more than $1 million a year. Republicans have condemned the plan as class warfare.
**********************************************************************************
This IHOP in the East Village has hired a bouncer. Who knew pancakes could be so violent.
The new International House of Pancakes in the East Village has hired a bouncer.
He stands guard at the “24 hour” spot on East 14th Street from 11 p.m. until 7 a.m. He’s reportedly an off-duty police officer hired to keep intoxicated patrons under control.
The IHOP opened Tuesday.
**********************************************************************************
I hope all the parents out there, with kids old enough to have phones, are set up on the unlimited texting plan. Check out this chart.
According to the Pew Internet project, people in the 18-24 year-old range are sending and receiving 110 texts per day on average. The median number of texts sent/received by that group is 50 per day.
The overall average for texting per day amongst cell phone users is 42, says Pew. That number is flat compared on a year over year basis. Pew interviewed 2,277 people 18 and over for its survey.
**********************************************************************************
It looks like the Fed disappointed the market with their announcement yesterday. Stocks, Oil, Metals, everything is down. I'm not sure where the money is going. Maybe to the Euro... HA!
No comments:
Post a Comment