Archive for December, 2008

31
Dec
08

2008–NYT Year in Pictures

Here’s a look at NY Times’ 2008 Year in Pictures and I must admit there where some stunning photographs taken in ’08. Make way for the year of the OX.

30
Dec
08

Motto of 2009

simplicity

24
Dec
08

web.browse

a) The twelve days of tariffs.

b) CC Sabathia have the most pinstripes in Yankees history?

c) Amazing what may be seen in the bathroom.

e) GM only has 96,000 employees, yet provides health benefits to a million people.

May take a break for a few days, but should resume full speed again in January.

23
Dec
08

Banksy: graffiti and Louvre

British urban and graffiti artist Banksy and some of his latest pieces. Banksy hails from Bristol, UK and his artwork is often satirical pieces of politics, culture, and ethics.

People say graffiti is ugly, irresponsible and childish… but that’s only if it’s done properly.

flagwavezzz1

21
Dec
08

Culinary delights from our boys in Washington

I seem to have come across Bushies X-mas holiday menu. Very fitting for the Washington elites.

Breakfast

Big satchels of dough

Luncheon

Freddie Mac ‘N’ Cheese

OR

Sub-prime rib, equity reduction, Gored hearts of Palm Beach with hanging chard, braized ballots, stuffed and poached.

Dinner

Forked tounge, rhetoric spears, minced and parsed, figments coarsely ground and freshly grated

Dessert

Rummy cake

Snack

Carrots and sticks

See the entire lame-duck menu via Vanity Fair.

21
Dec
08

Printing…just a figure of speech

With Obama’s looming titanic fiscal disaster which path will the Fed decide to take? Central banking or central planning?  The Fed has announced that it will continue to print notes in order to trim its funds rate, if need be, all the way to zero. All bodies in Washington seem to think the wholesale printing of money is the answer to the nation’s economic woes.

Yes, today’s policy makers allow, there are risks to “creating” a trillion or so of new currency every few months, but that is tomorrow’s worry. On today’s agenda is a deflationary abyss. Frostbite victims tend not to dwell on the summertime perils of heatstroke.

Our troubles, over which we will certainly prevail, stem from a basic contradiction. The dollar is the world’s currency, yet the Fed is America’s central bank. In the boom, a superabundance of mispriced debt led countless people down innumerable blind investment alleys. E-Z credit financed bubbles in real estate, commodities, mortgage-backed securities and a myriad of other assets. It punished saving and encouraged speculation. Imagine a man at the top of a stepladder. He is up on his toes reaching for something. Call that something “yield.” Call the stepladder “leverage.” Now kick the ladder away. The man falls, pieces of debt crashing to the floor around him.

One final question for which Mr. Bernanke will have to put himself into the shoes of a foreign depositer:

“Tell us, Mr. Bernanke, if you had the choice, would you hold dollars? And may I remind you, Mr. Chairman, that you are under oath?”

Sink your chops in here, via WSJ.

16
Dec
08

Snow Tour de SE Portland

Heidi Swift’s head cam cruising through SE Portland during our first snowfall of the season. I’ve got to say, the tunes will put you in the Christmas cycling spirit if freezing temperatures and icy roads aren’t enough.

Hat-tip to Wend Mag.




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