Dunno, ... Japan jumped 26% in three days, btw! When was the last time we saw a major stock index jump 26% in three days? When? Is this rational? Normal? Or a sign that insanity reigns? The U.S. - yesterday, "celebrated" the announcement of proof of recession. This reminds me of the last days of Hungarian Fascism where they just had a drum beat on the national radio and a chant of "long live death".
Truly these are the end times, ... for Bush anyway. [more]
... fairly decent - overall, analysis here:
Obama - 10/15/2008
... There is much to like about Senator Obama's positive vision of cleaner energy, focused on making America more self-sufficient. At the same time, it would impose the biggest and most intrusive changes on US energy markets since at least 1980, entailing the collection and redistribution of many hundreds of billions of dollars--not temporarily, as contemplated for the current federal intervention in financial markets, but on an effectively perpetual basis. The benefits of cutting our energy imports and greenhouse gas emissions to a more sustainable and level would be significant, though if we are serious about reducing our reliance on unstable foreign oil suppliers, it is counter-productive to pit solar, wind and biofuels against domestic oil & gas, which today contribute roughly 30 times as much net energy to the US economy, and could do more. We may indeed be entering a new era of big government; however, while parts of the Senator's energy plan would stimulate new industries and new jobs, other portions would act as a drag on existing businesses, and on consumers. This may ultimately be necessary, in order to tackle climate change, but undertaking it during a recession would complicate efforts to revive the whole economy, not just its new green parts.
McCain - 10/20/2008
... Although many of the elements of Senator McCain's plan look sensible, I still struggle with the notion of energy independence that underpins much of his--and Senator Obama's--energy strategies. Although Senator McCain has recently refined his goal of "strategic independence" to encompass backing out Middle Eastern and Venezuelan oil, we might get greater benefits from a more positive strategy of working with our natural hemispheric allies, such as helping Mexico revitalize its flagging energy industry and partnering with Brazil to develop its vast new oil finds, while we expand our own sources and use energy more efficiently. That would enhance energy security in a manner more consistent with the Senator's general espousal of free trade principles.
With regard to energy and the environment, voters face a difficult--and thus extremely fortunate--choice between two candidates who treat the energy crisis and climate change with the seriousness that these closely-connected issues deserve. The proposals of either one of them would move us much closer to having a coherent and practical national energy policy, something that we have not had for far too long. At the same time, the differences in their approaches are significant and merit careful consideration. While Senator Obama's plans may depend too heavily on help from a federal government that could be over-extended by a number of other pressing concerns, Senator McCain's may rely too much on free market solutions that would be a tough sell in light of perceptions concerning the causes of the current financial crisis. And if elected, either one would find himself facing a powerful Congressional majority with its own ideas for solving these problems. The one certainty is that I will not lack for suitable topics on which to blog in 2009.
"October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February." - Mark Twain [more]
Why? Why would a "healthy institution" give up equity for money it does not need? Would you? Unless, of course, "attractive terms" are such that this is designed as a wealth transfer - corporate walfare, ie. government borrows money, overpays "healthy institutions" for healthy chunk of their shares, ... and "we the people" get stuck with paying off borrowed money! [more]
Perhaps the most striking fact revealed by the global financial crash -- or rather, by the reaction to it -- is the staggering, astonishing, gargantuan amount of money that the governments of the world have at their command.
In just a matter of days, we have seen literally trillions of dollars offered to the financial services sector by national treasuries and central banks across the globe. Britain alone has put $1 trillion at the disposal of the bankers, traders, lenders and speculators; and this has been surpassed by the total package of public money that Washington is shoveling into the financial furnaces of Wall Street and the banks. These radical efforts are being replicated on a slightly smaller scale in France, Germany, Italy, Russia and many other countries.
The effectiveness of this unprecedented transfer of wealth from ordinary citizens to the top tiers of the business world remains to be seen. It will certainly insulate the very rich from the consequences of their own greed and folly and fraud; but it is not at all clear how much these measures will shield the vast majority of people from the catastrophe that has been visited upon them by the elite. [....]
Year after year, the ordinary citizens were told by their governments: we have no money to spend on your needs, on your communities, on your infrastructure, on your health, on your children, on your environment, on your quality of life. We can't do those kinds of things any more. [....]
... mind you,
The money was there -- billions and billions and billions of dollars of it, trillions of dollars of it. We can see it before our very eyes today -- being whisked away from our public treasuries and showered upon the banks and the brokerages.[....]
... and so,
... remember well the lessons of this new October crash: The money to make a better life, to serve the common good, has always been there. But it has been kept from you by deceit, by dogma, by greed, and by the ambition of those who have sold their souls, and betrayed their brothers and sisters, their fellow human creatures, for the sake of privilege and power.
The God That Failed: The 30-Year Lie of the Market Cult
... and a very special wish to all Canadians who will enjoy a long weekend! [Canadian Thanksgiging!]
Cheers, ... er [... b-burp!]
... markets be damned
bring on another round, ...
... diversion from stock market, economy, elections! [more]
Pretty good read for all those who did not know of this to start with, ... and pretty good read for the rest of us, too! [ Note: my very first post on this blog dealt precisely with this issue: http://caps.fool.com/Blogs/ViewPost.aspx?bpid=4125&t=01008163369352786247 ] [more]
Not a bad read. Primarily geopolitical, ... [more]
... "Maybe God parked the earth out in the sunny part a the parking lot an once he gets back from the store an turns up the AC it'll all be back to normal," says me.
"Sir, I find your ideas compelling and would like to give you a grant from the Exxon-Mobil Foundation," says Giblets.
"What an exciting time for science!" says me.