Friday, September 4, 2015

Money money money

No rate hike at Fed meeting. But of course being that the Fed is controlled by bankers why should they raise rates? Cheap money continues to flow to the gamblers on Wall street while the rest of us suffer. But this game of musical chairs can only go on for long. Eventually the band must be paid. Think about it for a sec. Investors took out loans to buy stocks in companies that weren't making much money. Their values were based purely on perception. Customers are slowly drying up and the housing market in China has hit a bubble. Their government has done just about everything it can to prop up the markets while their banks have faltered and the yuan is nose diving. And people wonder why.
Fear not they can always buy insurance to cover their losses unless of course there's not enough in the coffers to cover the losses as before. Lloyds of London went bankrupt the last time round. They're the ones who will insure anything and it took a UK bailout to get them going again. Somebody's going to get stuck with a lot of bad paper yet again. And those big "too big to fail" banks have gotten bigger so the fall will be greater.

Last time around the markets hit a little over 14,000 before dumping 7000 points. To date the markets hit a high of around 18300 and have lost nearly 2000. I don't see people rushing out to buy big ticket items. They say consumers run the economy and it doesn't look like we're buying much from China even though just about  everything is made there. Always look for the made in USA label.

Oh Canada looks like you're in recession already. Maybe if Harper hadn't put all his tar balls in one basket things might have been better. Tariffs aren't helping and by the looks of it Stevey would trade his grandmother for some cheap Chinese trinkets. And he has a masters in economics? Must be an honorary degree. Where's that cheap gas they promised. Nova Scotia I hear ran out of gas. How'd that happen the world is swimming in oil? Maybe that what happens when you put bean counters in charge.

Bank fails later...

Friday, August 28, 2015

Friday Post - Migrants and bankers

“Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tossed, to me:
I lift my lamp beside the golden door.”

Migrants - The current situation is bad because rather than deal with the situation in an organized manner, creating processing centers and spreading that population out across multiple countries, migrants are crammed into camps with poor conditions and treated like criminals. Their only offense is wanting a little safety and maybe a shot at a better life. Rewind to the days of the end of the Vietnam war when those who helped the U.S. fight the North Vietnamese were airlifted to safety, brought to the U.S. and Canada and neatly spread out across cities and towns. Done so well that nobody realized that 450,000 were settled here. No town or city can handle the influx of tens of thousands of people all at once yet that's what we're seeing in Italy and Greece. That's also not to mention the refugee camps in Lebanon, Turkey and Jordan. The problem as I see it is that they're trying to deal with the symptoms and not the problem which is political instability and war. And this has to be a drag on the world economies. The arms dealers, bankers and morticians may be doing well, not so much for the rest of us. There has to be a breaking point. 

There is the issue of China which for the moment is desperately trying to pump up a slowing economy. But there are other factors at issue. Mainly they followed the U.S. lead of allowing their investors to borrow money to invest in the stock market. All went well until their economy slowed and values fell. Add to that the loosening of real estate regulations that permitted the ownership of second homes and just like the U.S. market when the bubble burst prices fell. In a feeble attempt to pump up the market the Chinese government lowered interest rates. It's worked for a brief while but even that ploy is set to fail. A small snippet from a Chinese analyst today gave credence to what the future may bring. The government is buying stocks to try and keep the markets high. “If the government sustains buying there are terribly negative consequences, such as impact to [People’s Bank of China’s] credibility and yuan credibility…Any bank can create money out of thin air, which is why confidence is so important,” said Cui. “So if they keep printing money to buy high valued stocks, it will damage yuan credibility.”

Wall Street would have you believe that this was just a minor glitch, a temporary correction but the fundamentals say otherwise. And this isn't happening in just China but other countries as well as others devalue their currency to make their products more attractive. But I don't see a rush to buy more stuff. While there may be pockets of building in some cities this isn't a broad based boom like after past recessions.

Bank fails later
No fails this week

Friday, August 21, 2015

Friday Post - Cast your ballot but hang on to your wallet

Thought about doing a small straw vote on the candidates here but it's become a real circus. Here was some possibilities:

However after further review as they say in football we find that there's far more than the 17 plus on the republican side or 5 democrats running as attested to by a Guardian article (sheesh you have to go overseas to find out what's going on over here). Interesting to note that according to a Guardian article there are 585 registered candidates for U.S. president in 2016, including Sydneys Voluptuous Buttocks (independent), President Emperor Caesar (Democrat), Buddy The Cat (Democrat), Crawfish Crawfish (other), Bailey D Dog (independent), Buddy The Elf (write-in). Forget voter fraud the elections board might do better to scrutinize the candidate's qualifications. It's a safe bet some of these aren't even human beings. With the actual numbers in the voter fraud non problem a half dozen votes wrongly cast has not changed an outcome yet, at least not since the days of Tammany Hall or the Chicago party machines.

 The sad fact today is that unlike Canada or the UK we here in the U.S. must endure the better part of 2 years of campaign BS and just like retailers the day after Christmas when the last of the tinsel has been swept up the preparation process starts all over. Should you wish to keep warm all winter it's an easy task of picking up yard signs the day after an election. Wooden stakes and cardboard burn quite well.

The more things change the more things stay the same and they aren't getting any better. Looking at the markets the Dow has taken a 600 point dump so far in the last two days. It's obvious they weren't realistic in the first place but we all knew what happened when the fun and games ended with the crash of Wall Street in 1929. And if you thought 2008 was bad you ain't seen nothin yet. China's economy is slowly freezing up. Germany thinking they are in some power seat hasn't realized that they are broke too. How many of the euros did they just hand off to Greece? And those were borrowed euros at that. So let's face facts when the money isn't put to actual use for things like building bridges or roads or schools and gets filtered directly to banks who only make money by creating more debt (all paper shuffling) then eventually the music stops and everybody is left chairless or in this case homeless. This appears to be the very start of an economic freeze up. With the cost of two wars still ongoing a decade later and not paid for and the round after round of tax cuts it's a sure bet there won't be another bail out like the last time. Expect some of the larger brokerage houses to fall this time along with a few of the larger banks.

I'm sure Voluptuous Buttocks, Buddy The Cat or Deez Nutz could solve the financial problems given a chance but in the mean time we endure another year of election campaigning.

bank fails later...

Friday, August 14, 2015

Friday sans the beavers and pussies

Thought I'd pass on the beaver and pussy stick. It was getting old and only used it to get traffic here. Must say it did work for a while. So what now?
Oops how'd he get in there?

 Ever notice how Mike Duffy looks much like a Vogn from "Hitchhiker's Guide to the Gallexy"?
Try getting that image out of your mind.

On with the post -

Ever notice that a lot of the bloggers are gone? Check your side bar and note how many dead links there are. Some moved on to jobs that might not take kindly to net postings that are less than politically correct. Others died and can't leave a forwarding address. Kind of sad. It was like going into your favorite bar and knowing what the atmosphere was like before you got there. And sadly we all have our expiration date even though it isn't stamped on a body part we can see.

Life goes on in spite of tornadoes hurricanes fires or explosions. We're getting a little rain here even though it won't be enough to make much difference. Lawns are still brown here and much of the landscape is parched. Haven't seen it this dry in all the years I've lived here. Neighbors' bushes caught fire the other week while they were on vacation. Fortunately some other neighbors stepped up and had it under control before the whole place caught fire. Guess there are a few decent people left unless you're a politician.

 What a clown show we must endure for another year plus. On the right we have egomaniacs pandering to the ever shrinking white old man base. Selling them the proposition that you too can be rich like me if you'll just take another pay and benefit cut while I and my congressional buddies slip in another tax break. Their accounts in the Caymans must be bursting by now. Think about who the real welfare queens are. Ten or twenty bucks swiped from food stamps pales by comparison to the trillions that were reaped off the taxpayers with multibillion dollar bonuses to boot. Wrong is wrong but some wrongs are more wrong if you get my drift.

And should you think that the U.S. has cornered the market on corruption look no farther than to our friends to the north. Mr. Harper can no longer spin his story. He now has to resort to bold faced lies. To say he knew nothing of the Duffy matter is just plain hog wash. But take heart Canada at least this matter came out. Such things rarely see the light of day in the U.S. Now if I could just figure out a way to write off the meals I eat at home humm. What could I charge for sleeping in my own bed? Pretty ballsy if you ask me. And what's this chite about paying it back? Try stealing a loaf of bread at your local store and see what happens. Everything won't turn out okay just because you came back and paid up.

Bank fails later...

Saturday, August 8, 2015

Friday Beaver - Comb over

(Couldn't find a beaver shot with a Trump hair cut so this 'll have to do.)

Hola from the Donald

What do you mean you're not thugs, drug smugglers, rapists and murders? Thought everybody knew that.  We'll just build a wall, maybe electrify it and slap in a mote with alligators. All built by Mexicans to boot.

Let us not forget to throw grandma off her Social security because you know Wall Street needs even more money to lose in that grand poker game they call the market place. 

Health care? Who needs health care? Are there no prisons? Are there no work houses? We'll just replace that with yet another terrific plan but I can't tell you what that is because we haven't invented it yet. We'll have to consult with our insurance backers and lobbyists.

And taxes - who doesn't hate paying taxes unless it's those at the very top of the heap who can afford to pay an accountant or two to avoid paying even a nickel. Millions in profits and not a cent going to pay for the infrastructure that they used to make it. That's fair right?

Ah women - I'll Insult them all I want because I have that trophy wife stashed away and she won't say a word after I forced her into signing that prenup. 

I love hispanics and blacks. I think everybody should own one, just don't rent to them they might tarnish the Trump brand.

I'll bring jobs back to America ( As soon as I can get the wages in Asia even lower) Over here we'll just get rid of the EPA and all those nasty laws that protect our water and air. Doesn't everybody use bottled water to shower with? Thought everybody did.

Education - We'll just eliminate the K thru 12 requirement and make charter schools for those who can afford it because after all what jobs are left? And anyway you can't tear them away from their phones long enough to teach them anything.

Now everybody shut up while I get back to looking at a cheap land deal in Puerto Rico. Build a world class hotel I'll call it the Trump Cha Cha Cha. It'll be *UGE. 

(Take note of how many times Trump uses the term "I" or "me" in his speeches and never "us" or "we". A definite indication of a sociopath. Would love to hear from a professional in the mental health field about what they think of him.) 

Bank fails when I think of it.  
No fails this week carry on. 

Friday, July 31, 2015

Friday Beaver - Trading beaver edition

Beaver hoping the traditional beaver skin top hats don't come back in fashion. Oops! Too late for this beaver.

TPP  NAFTA CAFTA and other stupid ideas

There was a time when TV sets were made in the U.S. Then NAFTA was signed. Slowly that business went first to Canada then to Mexico and finally to China seeking its' lowest labor costs. To date 62,000 manufacturers have left the country. Nothing was spared and nothing is safe. About the only thing left is airplanes and autos and we know autos took a hit with imports. Yes the auto industry came back but new workers now make about 1/2 what the old timers made. And forget pensions. So that raises the question. What happens when the Chinese learn to build our American planes? If you look at our GDP the bulk of it is dedicated to aircraft manufacturing. While aircraft machinists did make a handsome salary with plenty of perks, new workers see a smaller paycheck and a 401K instead of a pension. 

With an all out assault on the middle class and the fact that 70 to 80% of our economy is consumer driven just where do the corporate suits think they'll find customers? They have this delusion that somehow they're the "job creators" when in fact they didn't create one single job. Jobs are created by demand and necessity. You don't start a business unless you know there's a demand for your product or service.

Now we have the TPP Trans Pacific Trade agreement. From what I've read of it it would strip countries of their sovereignty and give it to corporations. Even though your country might have banned a product or chemical a corporation could sue and not just to be permitted to sell the banned item but for future losses. Such was the case in Canada when Ethyl Corporation sued because Canada had banned a gasoline additive MMT. The company won and got $13 million for its' trouble even though EPA and Health Canada indicted that exposure could cause nerve damage.

Does it really make economic sense to ship a pound of beef from New Zealand half way around the world? And who exactly needs to eat watermelon in the wintertime in North America? Much of the problems could be resolved if they took the speculators out of the market. Their only function is to buy and sell contracts thereby driving up the price of a commodity. They have no vested interest in product itself. And now we have hedge funds betting on the rise or fall of a product. Vegas must be jealous.

Bank fails later
No fails this week

Saturday, July 25, 2015

Late Friday Beaver - Random beaver shots

Random rants

It's amazing we haven't seen more shootings in this country. Forget some ISIS extremist hiding under the bed. They're about as much threat as a stone gargoyle. No, worry about that quiet creepy guy on the bus who talks to himself. He's more of a threat should he be off his meds or worse if he took some of the meds they prescribe these days. (side effects and all) It was Ronald Reagan  who opened up the doors to the mental hospitals back in the 80s and let everybody out. So now it's harder to get these folks help. Haven't seen what Obamacare covers so it's a safe bet many are falling through the cracks. Health care shouldn't be tied to whether you have a job or not.

How dry I am
We've had almost no rain here this year. Only two minor rain storms that I can think of in the last couple of months and not enough to water a garden. Normally the grass turns brown until late Sept but this year trees are starting to die. Checked the pine trees the other day with the old christmas tree test. Grab a branch and pull on the needles, if they come off easily then the tree needs water. Can't even keep some of the landscape plants alive. That's creating a fire danger. A bush across the street caught fire the other day. Had it not been for some fast acting neighbors and strangers their trees next to the building would have gone up like a torch setting the entire building ablaze.
There's parts of California, Texas, and Alberta, Canada that I hear are worse. So much for food prices and forget beef. Chicken just shot through the roof with a 4 million pound recall.

Bomb bomb bomb (fill in the blank)
What haven't we blown up over the past years? Afghanistan- check Iraq - check Pakistan - check Syria - check Libya - check Yemen - check. The right wingers are just drooling over Iran. Oh and let's not forget our assistance in Ukraine and Turkey. Bet we loan them a drone or two. But then that leaves the entire continent of Africa with so many countries but we tend to steer clear of that part of the world. Small potatoes maybe? Guess we can't squeeze enough out of them with bribes or intimidation to make it worthwhile.

The Fox News republican clown show
I say we arm them all with pies and seltzer bottles and see who comes out the cleanest. You just know this will be a contest to see who can be the most tea baggyist. If you go so far to the right do you finally land up on the far left? And just who is their base? Or should we say who's left of their base? This country isn't lilly white northern european anymore. Somebody had it right when they called them "the stupid party".  What better way to lose an election than by insulting potential voters. We've heard what they think of hispanics. Can't wait till they're asked about what they think of black people. Now if they could just remember where they put those binders full of women.

Bank fails when I think of it.
No fails this week and only 6 fails so far this year.