Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Cave Dwelling Brothers, To Inherit Billions

12/04/2009

Zsolt and Geza Peladi, two penniless brothers who had been living in a cave outside Budapest, are to inherit a $7 billion fortune from their long-lost grandmother, United Press International reports.

UPI quotes Geza as saying, "We knew our mother came from a wealthy family, but she was a difficult person and severed ties with them, and then later abandoned us."

According to the Telegraph, the brothers were contacted by charity workers. Since their German grandmother had left no next-of-kin for her fortune, the vast amount of money was passed down to her next surviving relatives - the Peladi brothers and another sister who lives in America.

The brothers are hoping that the money will improve their life - and their love life. The Telegraph reports:

"If this all works out it will certainly make up for the life we have had until now -- all we really had was each other -- no women would look at us living in a cave," said Geza.
"But with money, maybe we can find a partner and finally have a normal life. "

http://www.huffingtonpost.com/2009/12/03/zsolt-and-geza-peladi-cav_n_378481.html

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what spot in the US is farthest from a mcdonalds?

10/19/2009


(a spot)in South Dakota is the McFarthest Spot, the place in the US geographically most removed from the nearest McD’s (*). If you started out from this location, a few miles north of State Highway 20 (which runs latitudinally between Highways 73 in the west and 65 in the east), you’d have to drive 145 miles to get your Big Mac...

http://strangemaps.wordpress.com/2009/09/26/413-the-mcfarthest-place-145-mi-to-the-nearest-big-mac/

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you are a slave to the Government

6/22/2009

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How testosterone poisoning wrecked the economy - thots?

5/19/2009

How testosterone poisoning wrecked the economy

In the summer of 2005 two Cambridge University neuroscientists set up shop on a midsize trading floor in the City of London. For a little more than a week they took saliva samples twice a day from 17 male traders who specialized in German interest rate futures, and measured the daily fluctuations in their testosterone and cortisol levels. (Excess cortisol, produced by the adrenal cortex, tends to indicate heightened stress levels.)

The neuroscientists, John Coates and Joe Herbert, discovered what even those of us with only cursory backgrounds in brain chemistry might have guessed. On days when the traders did well, their testosterone levels rose. On days characterized by market volatility and uncertainty, cortisol production spiked.

Sure, any guy knows what it is like to feel your testosterone surging after accomplishing such manly feats as hitting a home run, bringing down a woolly mammoth with your handmade spear, kissing an attractive woman or writing a really killer blog post

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Adam Smith On "Spreading The Wealth"

10/26/2008

UPDATE: Mccain explains what a progressive tax is and why it is not Marxism - long ago, in 2000 (im sorry but given all the other factors i think mccain would have won if he went back to his 2000 self for the general election campaign):


The intellectual father of market capitalism:

The necessaries of life occasion the great expense of the poor. . . . The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. . . . It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion. - Adam Smith


the earned income tax credit ("EITC") that was enacted by Gerald Ford and then re-enacted and expanded in 1986 by...could it be, don't tell me, say it ain't so!...Ronald Reagan.

The EITC uses tax revenues (derived from our progressive tax system) to provide additional income to people below certain income levels under a formula so that it gradually phases out as incomes increases. Qualifying families receive a monthly check from the government.

So, Ronald Reagan was a redistributor. That must mean he was a socialist, even a communist. http://www.huffingtonpost.com/paul-abrams/reagan-the-redistributor_b_138428.html




mccain seeks to buy up 300 billion dollars of private mortgages and take them under government control and one of the reasons for Palin's original popularity in alaska was her support for hiking taxes on the oil companies and distributing some of the money to citizens, who already each recieve a free check every year for thousands of dollars from the Alaskan governemnt due to the oil revenues made off of federally and state owned lands - and yet somehow they can tout these policies and at the same time make a case against obamas supposed communism in the same speech with a straight face - george orwell would be proud.

so, having failed to present obama as a radical christian (reverend wright), and then as a radical muslim (simply false), then as a radical hippy pentagon bomber (ayers - when obama was 8 years old), they have decided this week that he must be a communist.

none of these arguments are taking root because they obviously do not mesh with the obama so many people have heard and seen. he is obviously not a man of malice out to confuse or deceive the world into following him down one or another radical path - to our ruin and his fortune. it just ain't so. but try the mccain camp must because they made it this far and they are seeing their dream slip away under the weight of the last 8 years of republican but not conservative government, mccains own poor judgements and general air of befuddled consternation at why his embrace of the far right has left his former fans - the independent voter - alienated, and palin's sexy but hollow psuedo-patriotic jingoism and horrifying lack of preparedness to be president if mcain, the oldest man ever to run for president in the history of the united states might pass over during his administration. they see their dream of rescuing themselves from bush and cheney's arrogant disregard for the opinions of americans of all political stripes and so they are grasping at straws. you may not believe the polls that have obama so far ahead of mccain but it is obvious in the desperation of the mccain campaign in switching from theme to theme to theme in their attacks on obama that the mccain camp sees the their ship is sinking. hence the latest attempt to resurrect the red scare - communism - now dead for 18 years. But fear of commies worked so well for so long for the right, how could it not work again? and that is the fundamental problem with the mccain campaign, it is stuck on issues that were relevant and useful 20 years ago but that no longer resonate today. communism, hippie radicals, racism, fear - the republican party has tried to run a campaign that might have worked in 1984 but falls flat today. europe and japan and china are socialist, and their economies, currencies, banks, etc are better off than ours at the moment, bill cosby and oprah managed to become friends with almost every white american, everyone is tired of the baby boomers and their hippy/anti hippy teenage narrative that they are still trying to work out. their themes are dead. but the democrats have managed to shake off the redundant themes of the past 20 years - they have managed to become known as the party of fiscal responsibility (remember the massive clinton budget surplus?), a reasonable and limited foreign policy, a respect for the privacy and social freedoms of american's, a respect for the restraints of the constitution and finally:

From the moment he vaulted into national consciousness with his inspiring speech at the 2004 Democratic National Convention, this theme has lain at the heart of his approach and his appeal. "We worship an awesome God in the Blue States, and we don't like federal agents poking around in our libraries in the Red States, We coach Little League in the Blue States and yes, we've got some gay friends in the Red States."It is a message of fundamental unity and good will, at a time when politics often resembles Henry Adams' mordant description: "the systematic organization of hatreds." - Steve Chapman


and in the words of another:
The selection of Palin as the vice-presidential candidate was guided by identity politics. McCain clearly believed that a female candidate would appeal to former Hillary voters. The sexism in that assumption is pretty staggering – and American women swiftly and mercifully proved McCain wrong. In fact, what has been striking about the reaction to Palin is that women, even in the first blush of the marketing, have always been much less impressed by her than men.

Then, as Palin ducked any real policy speeches, she became an identity politics figure for the white right. She went to the heartland, which she kept calling the “pro-America” part of the country. By the end of the campaign her message was almost entirely: “Vote for me. I’m like you. You’re like me. We’re better than other people.”

It wasn’t racist. It was just the reductio ad absurdum of political appeals based purely on cultural or ethnic identity.


The roles have reversed. The republican party is now the party of identity politics and the democratic party is now the Big Tent.

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‘Throw Away the Blackberry and Enjoy Life’

10/21/2008

"Andrew Lahde, the head of Santa Monica–based hedge fund Lahde Capital Management, who quit after posting an 870 percent gain last year, became something of a folk hero today after his awesome, Jerry Maguire–like farewell letter to clients made the rounds."

"I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America."

Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say good- bye. Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, “What I have learned about the hedge fund business is that I hate it.”

I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America. There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are. I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck.

Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life. So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don’t worry about my employees, they were always employed by Mr. Springer’s company and only one (who has been well-rewarded) will lose his job. I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle.

I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life – where I had to compete for spaces in universities and graduate schools, jobs and assets under management – with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established. On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions.

These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man’s interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft’s near monopoly. I believe there is an answer, but for now the system is clearly broken.

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Foreclosure Alley - holy moley this video shows the state of the economy very clearly.

10/03/2008

Very sad. "insane recklessness by both banks and ordinary Americans:"

http://culture11.com/blogs/theconfabulum/2008/10/02/foreclosure-alley/

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Worldmapper is a collection of world maps, where territories are re-sized on each map according to the subject of interest.

10/02/2008

For instance - world map by land area:


by population:


and by wealth:

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classic SNL commercial parody for "Reliable Investments"

10/01/2008

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Sarah Haskins - Target Women: Cleaning AND Target Women: Palin




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Bush's Bailout Speech - I'm not sure I agree with all the details but I think this is one time I have heard a speech by Bush that sounded presidential

9/24/2008

Apparently at least some oversight and rules are going to accompany this bailout. seems Congress and the President agreed earlier today to place limits on the CEO pay and bonuses for the companies that the taxpayers will be buying up.

Hopefully the final product will have some additional thot and care and it won't just be a give-away to the already wealthy but irresponsible CEOs who created this disaster.

The emphasis on getting cheap credit flowing (hence more debts) might not be the best long term idea. I think throwing credit around too easily for too long is part of the problem.

I do think doing nothing at this point would torpedo what remains of our economy but I just want to feel like whatever steps are taken are reasonable and responsible as possible. I'm not necessarily against rules and regulations - without any the free market would not survive the greed and callousness of a few. I think governments can play a role in encouraging certain industries and controlling the negative impacts of other areas of the economy. It does worry me that the party that fundamentally believes that the government can't do any good is now being handed the responsibility to regulate and rescue an industry (wall street) that they have spent the last 20 years trying desperately to de-regulate.

I guess the next few days will give us more details.

Finally, the request by John McCain to cancel the first presidential debate on Friday night, and then actually saying he has "suspended his campaign" in order for him to "work on the economy" ... I'm a bit baffled ... it strikes me as desperate and weak and probably won't do him any favors, especially if he ends up doing the debate anyway. We need a President who can handle more than one issue at a time. In a crisis would McCain need to take a time out from all of the other responsibilities of being president in order to deal with it?

The weather has cooled down but the political temperature sure has kicked up dramatically over the last few days.

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not on wall street - but - "CEO murdered by mob of sacked Indian workers"

9/23/2008

Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive who had dismissed them from a factory in a suburb of Delhi.

Lalit Kishore Choudhary, 47, the head of the Indian operations of Graziano Transmissioni, an Italian-headquartered manufacturer of car parts, died of severe head wounds on Monday afternoon after being attacked by scores of laid-off employees, police said.

http://www.timesonline.co.uk/tol/news/world/asia/article4810644.ece

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