Tag Archives: Clint Eastwood

2 Cents Worth On Life Its Ownself

Let’s go right to work.  At these prices I can’t afford to spend time lingering….

All those that are surprised that Putin favors BO to win the election hold up your hands.  You do recall BO’s captured comments by the open mike when he told old Med that Vladimir should just be patient until the election and then BO would have more “flexibility dealing with Russia.  Of course Vladimir wants someone in the White House he can rollover.   In the meantime the Russkies don’t help with Iran or Syria or, well, where exactly are they being supportive?

Don’t take my scepticism for much weight regarding the whole issue of man-made global warming but you are encouraged to read the letter to the WSJ about three weeks ago on that topic.  We are constantly bombarded with the idea that the science is established that such a phenomenon exist.  That letter is by three very distinguished scientist and some at those elite Eastern schools.  They decry the lack of scientific purity in the research on the subject and posit that the subject has become captive to conclusions before data analysis.  Indeed the entire “green” movement has become its own industry.  The last thing they would want is for the world to solve the problem.  Then they would have nothing to do and frankly those cushy jobs with institutes, foundations and charities supporting the green agenda would disappear.  Their raison d’etre would be gone.

A footnote to the above topic.  You note that just in the last week the battle has begun over the huge solar panel projects planned for the deserts of the West.  That big project in California has already drawn opposition by three green groups talking about the environmental damage such a large solar array will have on the area.  Interestingly they also take the position that there is no evidence to support the notion that solar energy would improve the environment.  One of their arguments is that working the desert earth would release more methane and other harmful elements into the atmosphere than would be eliminated by the solar project.  These aren’t right-wing Tea Party types opposing the project.  Ah, ain’t watching the human play fascinating.  Wonder if we are in Act III yet.

We note that Biden has only given 2% of his income for charities.   Guess he couldn’t afford more with the expense of his hair transplants and all that dental and orthodontic work.

Bush was the epitome of evil for keeping all those poor terrorists in Gitmo but BO is still works on water and calms the seas even though he has followed the same policy for nigh on 4 years.  Don’t believe for a minute he needs some kind of Congressional approval for closing it down.  He is commander-in-chief and can order the military to do whatever he wants with those prisoners whether we like it or not.  He could release them tomorrow or send them to any other of our military bases around the world if he really wanted that.

Well, we have the announcement from Europe that the ECB will save the day a la our own Fed by printing up more Euros to support the Spanish, Italians, our Greek friends and assorted others.   They say they will do it in s “sterilized” fashion.  By that they mean that they won’t be printing more money and increasing the size of their balance sheet.  Allegedly they will sell other assets to make the new purchases.  But you let me know if you have seen an explanation of exactly how that will work and what assets they will redeem to buy the new bonds to support the Euro.  Those minor details have not been reported yet in the WSJ or Financial Times or any of the business news channels.  Conclusion–they are hiding the ball and will in fact just print more money.  After all if they didn’t then they wouldn’t accomplish what they view as they mission in this crisis.   Of course we hoi polloi just aren’t sophisticated enough to understand high finance right and they sure don’t want to trust us with plain language or simple truths.    I really believe that you could take an Italian or French politician and stick them into our Democrat party and you wouldn’t notice any change.

I am NOT a birther person.  Don’t hyperventilate.  But all that discussion did cause a new look at the Constitution.  Under the 20th amendment it would seem that if there is a serious question regarding the qualifications to be President and those are timely raised that an “elected” President would be denied his office and the Vice President would take the office at least until his qualifications were proved or removed.  Just read the amendment for yourself, it is pretty plain.   The presumptive President has to be “qualified” to assume office.

Just a word to the wise and those who want to make informed investment decisions–keep a constant eye on the Baltic Dry Index.  It monitors the shipping of hard goods and basic commodities.  Four years or so ago it was at 11,000, now it is at 675.  It is down over 60% just year to date.  Iron ore which is a fundamental item for all economies is down over 30% this year in shipments.  China ain’t buying much at all and has ample inventories.   Thus Australia is beginning to slow down significantly because it supplies the bulk of iron ore and coal to China.  No one else around the world is picking up the slack, not in South America or anywhere else.  Steel, lots of steel, is necessary for any thriving economy.  Until that Baltic Dry Index starts moving up big time the world economy will continue to languish.  All the other headlines are interesting and should be watched because monetary policy can help or screw things up badly, but bottom line you need that steel production to go up or we are just treading water at best.

You think Clint wasn’t a big hit at the Republican convention?  Well, the next week Smith and Wesson stock shot up about 15%.   He made their day.

“Newspapers nowadays use facts merely as the raw material of propaganda.   By suppression, or alteration, or overemphasis , or by the trick of false perspective, or by scare headlines and editorial comment, the “facts” are made to convey exactly the particular idea which the newspaper desires to suggest to its readers”.  P. Gibbs, English novelist, 1944.  http://www.olcranky.wordpress.com


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2 Cents Worth On Life Its Ownself

Between morning and afternoon naps the old folks still have a thought or two that we offer at the same bargain prices…..

Well, helicopter Ben says he will print more money this morning from Jackson Hole.   But, then again maybe he didn’t.  You have to be able to translate the Greek from the ancient Hebrew and then into economic-ese.  First the market took it as a yes, he would then  folded upon further review.  But upon even further review it decided he would print up some greenbacks for us.   You make your own decision.  My bet is that he will especially because his comments about the state of the economy and the unemployment rate were not optimistic at all.   At least the Federal government has a debt ceiling limit it must adhere to but Ben has the sky for his limit, literally.

He made my day.  Sure old Clint rambled a bit and was off message a lot.  But he did make his points forcefully.  The other side can have their Clooneys and Baldwins all they want.  I’ll take Dirty Harry on my side in that dark alley of political knife fights any day.   Clint looks like he could be your neighbor, not a pretty boy on a magazine cover.

Enjoy your Blue Moon Friday.  A Blue Moon is when we have two full moons in one calender month.  Hence the phrase once in a Blue Moon.

I don’t know how some of the economic pundits can still be debating about how much China is slowing down in its economic growth.   You sure can’t trust the numbers out of China but there are some numbers you can follow that reflect what is happening there that are independent of the Chinese Commie Party influence.  The actual shipments of iron ore have fallen more than 33% this year to China.  Same is true of coking coal.  This can be verified by following the numbers out of Australia and the Baltic Dry Index.  Steel is one of those items that give a pretty clear indication of economic growth or activity.   It goes into pretty much everything from cars to buildings to dish washers.   Whatever they are doing behind the curtain in China that we don’t see, they are clearly doing less of it.  For you investments you shouldn’t be counting on China for the near term.

There was a bit of talk about the Republican Convention authorizing a commission to study the idea of a gold standard fro our money.    We should at least do that.   The egg- head economists pooh pooh the idea as old -fashioned and not flexible enough for a “modern” economy.  They always start off by pointing out that there isn’t enough gold to support the money needs.  Well, that may be true but there are still ways of making a link between our money and gold.  I have my own idea which is to set a standard that we must have enough gold to equal 50% of the national debt at all  times based upon the average price of gold during the trailing twelve month period.  At least that would make the politicians pay serious attention to our (your) debt.  The way it is now there is no “governor” on the rise of the national debt other than the whims of the politicians of the  moment.   The government should also be required to accept gold at the market price as full payment and legal tender for all debts owed it.  I am certainly open to tinkering with the concept offered here but anything like that would be a vast improvement unless you trust your future to the politicians and their desire to buy votes and voters in perpetuity.

A gold link with the dollar would prevent what we have seen the last three years where the Fed has simply printed dollars to by Treasury bills and thus allow the Feds to run a huge deficit each year. The Fed has bought over 50% of all the Treasuries during this period per their own reports and those of the Treasury.  We wouldn’t have been able to finance our deficits because no one would have bought them or more realistically we would have had to pay much higher rates of interest.  Keeping those interest rates low has been the stated purpose of the Fed.

You have to laugh when you notice that Tim Geithner the tax cheat and our Treasury Secretary has not been visible for some months now.    The BO campaign clearly doesn’t want to have him with too much face time with the media now because he is a reminder of so much that has gone wrong with their policies.  Think back to ’09 and ’10 and he was on the  tube at least once a week.  Maybe we should start a movement for people to watch out for a “Timmy” sighting.

In addition to worrying about the tons of smoke and other emissions that Man puts into our environment every day I will give you something else to worry about that the EPA is completely ignoring and offering us no protection or solutions.   Every single day thousands of tons of debris from space falls to earth.  You see them in the falling stars and meteorites but there are many more that we never see.  Just think no one is protecting us from this pollution and we don’t even know all the evil elements that are in these celestial contaminants.   This is all in addition to that deadly radiation from the Sun.   One wonders how we made it from the trees and caves to our condos.

Go Curiousity.  It has started moving and exploring.  Can’t wait to see if we learn something really new or its just a dusty place with boring geography and elements.

“Only in states in which the power of the people is supreme has liberty any abode.”  Cicero.  Good words and a warning.  http://www.olcranky.wordpress.com

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