Big Picture posted this and it is worth watching. [more]
By all accounts facebook is growing in leaps and bounds, but they sure do treat clients badly. I keep hearing bad things about the way facebook operates. Facebook is a social network, but they constantly freeze accounts for being social, and when they do so they cut people off from all of the services in facebook. [more]
The 30-year mortgage is at a low since tracking began in 1971. Probably since housing prices have declined there isn't as much risk for the loans to fall into default, but certainly there is still enormous risk in lending money for 30 years. Higher inflation is one of the risks. The inability to predict that far into the future is a huge risk, but the rate is only 4.69%. [more]
Mish has a post on Krugman and I wondered how history would view Krugman's insane philosphy. Being a scientist, I thought about how more then 2000 years ago Democritus was on the right course for develping modern scientific theory about matter and that everything was made of atoms, but Aristotle was more popular and disputed modern science theory in favor of everything is made of earth, wind, fire and water.
This is very well done. I am not sure which link to use... [more]
I was chatting about economics with a friend today and there is "something" that seems to be ignored or not showing up as it should in economic discussions. Something that just came out in the discussion is when we were talking about low wages I said that there was no consumer liquidity when wages were too low and you need consumer liquidity for the economy to hum along. [more]
Gary North says medicare is already bankrupt and social security will be bankrupt this year.
There is a good case for serious erosion happening around the leak, which is increasing the flow of oil...
Big picture has a post and I saw another pointing out the pressure out of well is declining at a rate that points to the opening growing.
The way Barry at big picture expresses himself makes me laugh at times, like this:Other than that, they are a terrific group of folks who have done a bang up job paying themselves huge bonuses for previously unimaginable levels of incompetence.
I was looking at the live video feed when they were capturing 15,000 barrels per day, and I found the video distressing because it looked like a lot was still pouring out. [more]
I didn't like reading this piece about possibly damage below the seafloor...
There seems to be more and more kiting out there. Love this method of covering pensions...
Your pensions are safe, you can trust your elected officials.
Years ago I was asked if I noticed gender difference in the classroom and I repied something like the title. Boys are always more disruptive and much harder to keep on task. From what I have seen in the classroom, it has amazed me that the financial inequity in the world has been towards women. I spewed something to that effect out as well. [more]
It is starting, the breakdown of unsustainable pensions...
Best to work towards what can be sustained, imho...
Here's a story that really got me, a newborn was mauled to death by a dog and now the mother and grandmother have been arrested with criminal negligence. [more]
I have pointed out a couple times how economies in trouble used "exports" to help. Japan was able to have a strong export market when their crisis first hit some 20 years ago. It certainly helped them even thought they are still having problems. [more]
Quite a while back I presented my opinion that the birth rate was going to go down. This Financial Armageddon post links to a number of hard luck stories of how the recession is hurting people that invested enormously in their training and are doing jobs that you don't even need high school to do. [more]
I am glad to see they are finally having some success at reducing this disaster. Interesting they recovered 10,500 barrels in one day, yet they maintained for weeks upon weeks that the amount of oil leaking was half that... I have a friend who works in oil and gas and he said they wouldn't even drill for 5000 barrels per day, more they'd be going for about 50,000 barrels per day. It would be way to expensive to drill for only 5000 barrels per day. [more]
Big Picture has a post about how 6 banks made money and the rest, or 980, lost money. [more]
Last month the river flooded. This month the river has taken the father of one of my students. His poor mother saw his father go in, and go under and he has not been found. This happened on Saturday. They were out in the bush where phones do not work and it was 6 hours before anyone came along to send for help. It is a mighty cold river. You can see it is all ice bergs just 6 weeks ago in the pictures on the link. And actually, in the 4th picture the beige house is where my student lives. He is graduating next week. Petty sad times around here. [more]
Just read a good article pointing out the poor prospects of the next generation buying homes. [more]