2 Cents Worth On Life Its Ownself

We offer fodder for the bored and aimless mind, at bargain prices…..

Twenty odd years ago when Greece was applying for and finally admitted to the Eurozone they demanded and received a special “bailout” as their price to vote for the admission of Portugal.  They didn’t transfer to the Euro until about 10 years ago and now are on the brink of financial collapse and demanding more bailout from others.  A quote just this week from a “man on the street” in Athens pretty well sums up their problem and their attitude.  He said that all they needed to do was take the money from the rich people and everything would be fine. Of course that money would last less than a year with their public employee payrolls and pension benefits.  After that what is their next plan–to take the money from the rich in other European countries?   Good luck with that.

Do you recall what the public welfare plan was for Jamestown when it was first established?   Some of those earlier settlers didn’t want to work the fields, build the cabins and hunt for food and provide for defence.   The welfare program was pretty simple–you don’t work you don’t get to share in the food or housing.  Only those physically unable were exempt and the community provided charity but not as a government requirement.  They had a rough go of it for a couple of years but the Tidewater area of Virginia continued to grow over the years from 1609 onward until Virginia was the most populous of the Colonies.

I am going to start throwing my shoe at the TV if the commentators and pundits don’t quit using the phrase “same exact” or its more elegant version “exact same”.  Darn, doesn’t anyone at those places know how to use proper English and syntax.   Could there possibly be a more redundant phrase.   One word or the other will be quite sufficient.

Some expert continue to predict that China growth will be the engine for global economic expansion and help raise the US economy.  You might want to check the Baltic Dry Index for the last few months.  The Chinese have significantly reduced steel production, they have slowed their shipments or iron ore and coal and have even delayed or simply defaulted on a number of such shipments.  They don’t apparently plan on building nearly as much at least in the near term and thus that growth will be a pretty small engine of world growth.  Everyone best re-think that strategy.   It doesn’t hurt to remember that the Chinese economy is there for the pleasure and amusement and benefit of the Communist Party.  They still have a tight rein on that country.  If you don’t believe me, ask Bo.

Are you surprised that a member of the NLRB appointed by a Democrat just resigned and took the position as general counsel for the AFL-CIO?   One can only guess what side he was on in every issue brought before that bureaucratic board.  

Geithner says that raising questions and concerns about increasing, again, the National Debt cause people to doubt the full faith and credit of the US and its  ability to pay its bills.   I believe that that is exactly why the question should be raised and that the National Debt must be controlled immediately–so we WILL be able to pay our debts on time.  If if keeps going up there is a limit to how much our creditors will advance.  The Fed has been buying over 60% of all our new debt and the others are bound to be getting nervous.   I just wish for once the Democrats would agree that there has to be a limit on its size.  I mean can it go to 35 trillion, 50 trillion?  Surely any rational mind would agree that the sky is NOT the limit.   The current budget proposals of BO already project the Debt to almost hit 30 trillion within a decade.   If not now, when are we going to address this problem.   Cut just 1 %, a measly 1% of the actual expenditures, not projected growth rate increases, across the board and it could balance out over a few years.

Gold and the Gold standard has many critics.  They claim it has no inherent value; that it does not represent a storehouse of value.  They believe the fiat currency  is the modern world and the only way to advance and manage  a modern economy.  Certainly not all but many economists tout this approach.  But, but, but, what causes me pause is that the fact that numerous central banks around the world have been accumulating gold for the last couple of years and continue to do so even as we speak.  Those central banks are run by the same economists and left-wing politicos who denounce gold.   Do actions speak louder than words.

Well, did you get rich and retire on your Facebook stock?  Never have understood why there is much money in teenage girls talking about Fluffy their cat and their new hairstyle or clothes purchase, except other teenage girls.    No matter how many gazillion users it may have it seems from a business standpoint that it is now at least a niche market with limited upside.   But what do I know, if you think it is great then bet the farm on it.  But I would recommend if you do,  that you sharpen your other job skills and learn to like living in an efficiency apartment.

One can only laugh at the outer limits of political correctness in vogue today.  The other day on a NPR show a caller to a scientist suggested that Black holes should be called “gravity holes” to eliminate negative connotations.  Well, even on NPR the scientist was taken aback a bit.  Firstly we could note that they are called Black holes because no light can escape from them and thus they are black.  That is why they are harder to discern by astronomers.  Where is Alice, this must be Wonderland.

“I have noticed that nothing I never said ever did me any harm.”  Calvin Coolidge www.olcranky.wordpress.com

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Filed under business, Culture, Economics, Foreign Affairs, government, Politics

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