Day Dollar Died — A friend who has had a very successful career in banking sent me this and asked if I’d post it. He asked that his name not be used. Read what he wrote and watch the video. As I said he’s had a successful career in banking.
Please take the time to view this seven-minute video.
The odds of this financial crisis scenario have jumped from 1/100 to 1/5 IMHO in the past 3 months
Having worked in banking in South America during their hyper inflation period, may give me the credibility with you to take this fictional account seriously.
Buy some gold(however few coins) and stock up on non-perishable foods,so you can ride out the crisis/adjustment period, IF it comes.
My guess is it will take 2-3 months for things to calm down,if this scenario plays out.
Day Dollar Died
I just recently returned from an auto inspection at Weathers Motors on Route 1 in Middletown, Delaware County, Pa., and wish to tell the world that the service was great and price the was pleasing.
Good luck and God speed to Weathers.
Great Experience Weathers Motors
Quantitative Easing Explained — The-smarter-than-us set says these teddy bears in this YouTube video just don’t get how our monetary system works. They insist that the fed isn’t printing money — merely buying back bonds from Goldman Sachs — and that we really are in a deflationary spiral. Really.
One is starting to suspect that our wizards of finance are more like the Wizard of Oz. Pay no attention to the man behind the curtain. Pay no attention to the price tag on the package of bagels.
Quantitative Easing Explained
China has moved pass Germany, Denmark, Spain, and the US to become the biggest wind turbine producer in the world. It is expected that China will be the largest producer of solar energy technology in two years. In the meantime, as China has been allowed to take the bull by the ring and take all of the green jobs that were proposed during the presidential race, US leaders are still arguing and posturing about whether the government should support the creation of green jobs with taxpayers money or oil companies should be allowed to lead in the production of green energy. Probably after all the oil is gone.
I saw a documentary where Bangladesh was even creating solar cells and getting their people to build up their infrastructure with green energy. Something is definatley wrong with this whole discussion. I think that a government is supposed to tax people and to spend what they collect with the taxes for the betterment of the people whom they tax. The idea is that the government takes a little from each person and then spends it to get more than each person possibly could because of the amount of money they have collectively. I believe in big government–government of the people by the people and for the people, that works, instead of a government with no money who has to beg corporations to finance programs. I guess that I am just old fashion though. I think of this as I watch all of the green technology projects and jobs floating over to China where they will remain because we, like in most of the manufacturing sector, cannot afford to compete because of their low labor costs. Let’s just wave bye bye to those new jobs everyone wanted.
Green Energy Technology Sailing Away to China
Munāphē mēṁ vr̥d’dhi which is how to say “we are in the money” in Hindi, at least according to Google’s translation service.
Philadelphia communications giant Comcast Corp. announced yesterday that profits rose 6 percent to $9.5 billion clearly helped by a 2.4 percent cut in customer service expenses and a 7 percent cut in technical labor.
In a certainly unrelated matter subscribers fell by 265,000.
This particular news site was one of them switching to Verizon. While there have been some glitches, Verizon customer service has been Americanly superb and there is no looking back.
Comcast Cuts Customer Service Costs; Subscribers Drop
Comcast without any real warning has begun encrypting the channels that they had led owners of digital-ready TVs to believe would remain accessible to them sans the cheap digital adapter boxes with the even cheaper remotes.
It happened in the Windsor Circle area of Springfield, Pa on Wednesday. Other areas of the town were still getting channels without encryption as of Saturday but don’t expect it to last.
Comcast had given away the digital adapters for free without an increase in cost but many owners of new TVs declined to hook them up because of the low quality remotes, unnecessary complexity and wire snarls, poorer picture quality and loss of functionality.
Others never bothered ordering them because they had been led by Comcast to believe they were unnecessary for owners of digital-ready TVs.
An explanation for the unexpected action that appeared Comcast.net on Wednesday appears to have been removed. It basically said the new policy was in regard to Comcast concerns about theft of services.
And of course, the tech support people were unable to tell you what had happened and not just due to the language barriers. Comcast apparently didn’t tell them what they did.
People are angry.
Verizon, btw, is offering an equivalent service to Comcast for $50 per month less.
Comcast Customers Surprised By Lost Channels
Mechanical Failure Reportedly Not Cause Of Osprey Crash — The April 8 Bell Boeing CV-22 Osprey crash in Afghanistan was apparently not due to mechanical failure according the aviation website FlightGlobal.Com.
The crash occurred as the craft was landing in a wadi around 1 a.m. under brown-out conditions.
Killed were the pilot, a flight engineer, an army Ranger and a civilian. Others were injured.
The military has ruled out enemy fire.
The Osprey’s fuselage, cockpit,avionics, and flight controls are built at the Boeing Helicopter plant in Ridley Park with the rest of the machine being built by Bell Helicopter in Texas.
Mechanical Failure Reportedly Not Cause Of Osprey Crash
Gold Conspiracies, Hit And Run Crashes
The U.S. Commodity Futures Trading Commission was told at March 25 hearing that the price of gold was being artificially and illegally suppressed by JPMorganChase.
The claim was made by Bill Murphy, chairman of the Gold Anti-Trust Action Committee, who has long said the price of gold was being held down to sustain a financial bubble.
This time Murphy unveiled the name of a whistle-blower, Andrew Maguire, a London-based metals trader, who he said had emailed investigators about looming market manipulation which came to pass.
The day after the hearing, Maguire and his wife were injured in a bizarre hit-and-run accident in London which led to a wild police chase involving patrol cars and helicopters, and the arrest of the driver of the striking car.
The name of that driver has not been reported nor have any charges. The Maguires were hospitalized with minor injuries and released on March 28.
The left-leaning firedoglake.com was among the first to report the allegations of Murphy and Maguire. It’s now starting to bubble up in more mainstream publications.
Sunoco Selling Chemical Division To Brazilian Firm — Philadelphia-based Sunoco Inc. is selling its chemical division to Braskem SA, a Brazilian firm, for $350 million in cash. The deal includes its Marcus Hook plant, along with plants in La Porte, Texas and Neal, W.Va.; and the Pittsburgh research and technology center that it acquired from Mitsubishi Corp. back in 2001 during the Bush administration for $700 million.
The division makes polypropylene, a heavy plastic that is used in consumer materials.
Hope and change.
And you wonder why we gave Brazil a $2 billion loan last August to help them sell oil to the Chinese.
Sunoco Selling Chemical Division To Brazilian Firm
John Papola and Russ Roberts have created a fascinating rap video regarding the historic economics debate between government-intervention proponent John Maynard Keynes and free-market supporter Friedrich August von Hayek
President Obama’s stimulus plan follows the policy advocated by Keynes.
John F. Kennedy’s and Ronald Reagan’s tax cuts followed the policies advocated by von Hayek.
The video can be found here.