Health care anyone???

I just ran into an old TIME Magazine cover story on health care - it was from July, 1998. They were making a big deal out of some problem with health care back then. Things just never change. Don't let anyone tell you otherwise.

Greece and money management

When you stop to think about it, countries are just like people - after all, countries are made up of people, no? Take Greece, for instance. It has been living off of loans, just like the U.S. It is like a person who lives on credit cards. Now comes the time to reap what they sowed. The E.U. has to rescue it, just like a mother and father would rescue an irresponsible child. Let us hope the lesson has been learned.

Too Smart Toyota

I heard a news analyst saying this morning that Toyota had simply gotten too smart for its own good - they slashed costs so much they forgot to include quality control in its budget. Several warning memos written by its own employees way before the problems started to mount have been found. People never learn from history - they simply like to make their own bad history by repeating the mistakes of the past. This applies to politics, manufacturing, religion, sports, economics, education, you-name-it.

State of the Union

The U.S. hasn't been doing too well lately - what with two wars, fear of terrorists, and the recession that feels more like a depression. California has been doing even worse. There seems to be no end to the bad economic news. However, life does go on. Maybe the middle class will completely disappear. Perhaps China can start a foreign aid program to help us out. Who really knows? This topless woman seems to have no worries. Let's all be optimistic, just like she is.

Sorry Tuvalu

It seems that Tuvalu, an island nobody knows (it is not too far from Australia) will have to find other digs for its inhabitants. The people meeting in Copenhagen over the turmoil regarding global warming ignored its pleas to make the global warming agenda more restrictive. It seems that if things continue as they are, the little island will be covered by water in the near future. After all, the oceans' water level is rising and, for them, there is nowhere to run except to one of the continents. They do not want to have to relocate. Things are pleasant there. Sorry, but Saudi Arabia said no, we cannot be too restrictive because then we won't sell as much oil as we do now and then what??? We have to be serious about climate change but too much. This topless woman is not concerned - she does not live in Tuvalu.

Executed for stealing

China today executed a securities trader for stealing money from his company. It is what we call a white collar crime - non-violent. There is still money missing - about ten million - and he would not say where he stashed it. What would be the point of telling the authorities where the loot was and then letting them execute you??? Maybe he gave it to some charity? This topless woman knows nothing about this, by the way. I wonder what the Chinese would do to American Wall Street executives, such as Bernie Madoff. Ask them.

Indebted to China

Someone said that China is now the U.S.'s unofficial banker. They hold more U.S. Treasury bills than any other country. People who work at think tanks must be worried about this, though they are not saying anything - at least not in public. What would happen if the Chinese decided to cash in their Tbills? It has been said that when you make a bank your partner, the bank cannot afford to see you go bankrupt. They will therefore not cash all their bills at once. Perhaps they will opt for 100 billion at a time? The Chinese also converted all of their bills to one-year notes - from thirty year notes. I would not pretend to know why they did that. This topless woman does not know either.

Accessories to crime

It is not easy to carry out a crime all by yourself. You might be able to plan it, but executing the plan is a very different matter. David Friehling was Bernie Madoff's auditor for 17 years - 1991 to 2008. He recently pleaded guilty to securities fraud but he also said he was never aware that Madoff's business was a Ponzi scheme. Really? How can an auditor be that dumb? He saw the unrealistic gains did he not? I once asked an auditor (CPA) how it was that Mexican politicians could steal millions and get away with it, when they were audited year in and year out. His explanation was simple: the auditors were in on it. It could not be otherwise. It's a good thing this topless woman doesn't have to worry about such things - her husband provides well for her I'm sure.

The Titanic is history

The largest cruise ship in the world is now the Oasis of the Seas built in Finland. It sailed from port just three days ago. They say it's five times the size of the Titanic and can carry 8,300 persons. It is about 20 stories high and measures 1,180 feet in length; however, it is only 154 feet wide - that's about as wide as two house lots. It cost about 1.3 billion dollars. Nobody expects it to sink on its maiden voyage but nobody was heard to say that "even God can't sink it." Not this time. It has a huge sunning deck too - this topless woman would probably feel right at home there. Von Voyage!!!

Detroit is lost

From yesterday’s news: “DETROIT (Reuters) - To understand why critics say the market-based tax foreclosure system is failing in Detroit, drive up Desoto Street near the city's geographic center. The street is a mix of older ranch-style homes, new construction financed by a local church and wide-open green spaces where homes have been demolished or burned down. Fifteen vacant lots on the street were listed in the October auction by Wayne County officials after owners failed to pay taxes for the past three years. None of the lots sold at the minimum bid of $500. Americans have grown used to the idea that Detroit -- a one-time industrial powerhouse -- is a dying city with unemployment of 28 percent.” It seems Detroit’s residents were somehow not motivated to keep the good times rolling. Most of the upper middle class left and the employers of the middle and lower class went bankrupt. Even this topless woman left. So who pays the taxes now?

Global warming not

There is a very simple explanation for this: “WASHINGTON – Americans seem to be cooling toward global warming. Just 57 percent think there is solid evidence the world is getting warmer, down 20 points in just three years, a new poll says. Only about a third, or 36 percent of the respondents, feel that human activities — such as pollution from power plants, factories and automobiles — are behind a temperature increase. That's down from 47 percent from 2006 through last year's poll. "The priority that people give to pollution and environmental concerns and a whole host of other issues is down because of the economy and because of the focus on other things," suggested Andrew Kohut, the director of the research center, which conducted the poll from Sept. 30 to Oct. 4.” As you know, people are motivated by two things: pain and pleasure (or the fear of pain and the desire for pleasure, no?) That’s pretty normal. As long as global warming causes no pain or exudes no pleasure, people will simply not give a hoot. Maybe when the sidewalk gets hot enough to burn through our shoes – maybe then we’ll care. This topless woman does not care either.

Free Enterprise

This is what happens when you are in debt: “WASHINGTON – The Treasury Department on Thursday is expected to order seven companies that have not paid back last year's government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by as much as 90 percent, according to a person familiar with the matter. The seven companies are Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial. Smaller companies and those that have repaid the bailout money, including Goldman Sachs Group Inc. and JPMorgan Chase & Co., are not affected.” Everyone knows that the capitalist free-enterprise system is designed to reward those who strive, but one little drawback is that even when you are super rich, nobody can tell you when you’ve had enough. Where does ambition end and greed begin? Where would you draw the line? Is that why Buffett gave most of his money to the Gates Foundation - to ease his conscience? All I know is, this topless woman has nothing to feel guilty about. She only has $200 in her back account.

Wind Turbines Are Beautiful

From another popular news site: “Paris – Wind is the fastest growing renewable energy in Europe – making up a third of new energy here, with 20 turbines added every working day in 2008, according to EU statistics. What the European wind energy industry now wants is to expand – offshore. Ocean winds are a stronger and more predictable form of energy than the ones on land, and the industry is pushing a $57 billion investment to allow broad-winged turbines to spin at sea. Offshore turbines are also seen as a solution to complaints from Europeans who do not want the gargantuan turbines in their backyards. Complaints that the turbines ruin ocean views have slowed US efforts to get a project started off the coast of Massachusetts. The US has virtually no offshore wind energy, though the Obama administration has started to work on the issue.” My own opinion is that turbines actually decorate the ocean. I think they look cool coming out of the water. Just be careful that you don’t smack your boat against one of the pylons.

British Petroleum

From a recent news story: “NEW YORK – Nearly seven miles below the Gulf of Mexico, oil company BP has tapped into a vast pool of crude after digging the deepest oil well in the world. The Tiber Prospect is expected to rank among the largest petroleum discoveries in the United States, potentially producing half as much crude in a day as Alaska's famous North Slope oil field. The company's chief of exploration on Wednesday estimated that the Tiber deposit holds between 4 billion and 6 billion barrels of oil equivalent, which includes natural gas. That would be enough to satisfy U.S. demand for crude for nearly one year. But BP does not yet know how much it can extract.” I find this rather scary. Drilling that deeply into the Earth’s crust – does that not harm the environment somehow? I do not know, but I have a funny feeling about this. I don't think this topless woman likes it either.

Communism

A wise analysis: "You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation. You cannot multiply wealth by dividing it." by Adrian Rogers, 1931. I think this more or less describes Communism. Even this model works hard, no?

Greed

From a recent news story: “BOSTON (Reuters) - Taking his private equity firm public paid off big for Blackstone Group LP's Stephen Schwarzman, who became the top-paid chief executive in the United States last year. But the surest route to big bucks was running an oil or natural gas company. Their CEOs represented seven of the 10 highest-paid U.S. CEOs in 2008, according to a report by independent research group The Corporate Library.” Schwarzman was paid $702 million last year. That’s close to two million dollars per day. Does this not seem just a bit odd? How much do sugar cane farmers in Cuba make? I bet you Schwarzman thinks he deserves it. He is beguiled. hehehe. Capitalism is ok, but one annoying problem with it is that NOBODY can ever tell you how much is too much.

Robin Hoods

From a news story on the Web: “MEXICO CITY – U.S. refineries bought millions of dollars worth of oil stolen from Mexican government pipelines and smuggled across the border, the U.S. Justice Department told The Associated Press. Criminals tap remote pipelines, sometimes building pipelines of their own, to siphon off hundreds of millions of dollars worth of oil each year, the Mexican oil monopoly said. On Tuesday, the U.S. Homeland Security department is scheduled to return $2.4 million to Mexico's tax administration, the first batch of money seized during a bi-national investigation into smuggled oil that authorities expect to lead to more arrests and seizures. "The United States is working with the Mexican government on the theft of oil," said Nancy Herrera, spokeswoman for the U.S. Attorney's office in Houston. "It's an ongoing investigation, with one indictment so far." I had to laugh out loud when I read this story. While these Robin Hood types steal a little oil, the politicians steal almost all the profits. What do I know? Nothing…

Electocracy

As you know, G8 leaders are meeting in Italy this week. From Reuters: “L'AQUILA, Italy (Reuters) – G8 leaders believe the world economy still faces "significant risks" and may need further help, according to summit draft documents that also suggest failure to agree climate change goals for 2050. The Group of Eight -- United States, Germany, Japan, France, Britain, Italy, Canada and Russia -- kicked off with debate on the economic crisis, after what one analyst called a "reality check" in recent weeks on the prospects for rapid recovery. But few big initiatives were expected as the G20, a broader forum that also includes the main emerging economies, is tasked with formulating a regulatory response to the crisis and meets in September in Pittsburgh after an April summit in London. Not mentioning China's push for a sensitive debate about a long-term alternative to the dollar as global reserve currency, the draft talked only of global imbalances. China complains that dollar domination has exacerbated the global crisis and worries that the bill for U.S. recovery poses an inflation risk for China's dollar assets, an estimated 70 percent of its official currency reserves.” I don’t think these people have a clue – they only state the obvious. I can do the same from my lawn chair. These G8 people are the Electocracy – they behave like royalty, junketing from place to place, enjoying the scenery and camaraderie of the Club but solving not a single problem. They are very much like a doctor who prescribes antibiotics for an illness your body would get rid of on its own. It’s childish. We can do better than this. The woman on the left is also quite tired of this little game. Please.

Billions sold

From a story somewhere on the internet: “LONDON – In the last two decades, the world has spent more than $196 billion trying to save people from death and disease in poor countries. But just what the world's gotten for its money isn't clear, according to two studies published Friday in the medical journal Lancet. U.N. agencies, universities and others working on public health routinely take from 2 to 50 percent of a donation for "administrative purposes" before it goes to needy countries. Others said there is little incentive for health officials to commission an independent evaluation to find out what their programs have achieved. "The public health community has convinced the public the only way to improve poor health in developing countries is by throwing a ton of money at it," Stevens said. "It is perhaps not coincidental that thousands of highly paid jobs and careers are also dependent on it." That kind of expenditure translates to $27,223,000 PER DAY, in case anyone really cares. The money creates jobs for health professionals but it does not help unhealthy populations all that much – that’s for sure. If you want to stay healthy, just wash your hands frequently, and stay away from sick people and from doctors. Please.

Conservatives

The news is telling us that the conservatives have picked up seats in the European Parliament elections. It's really no big deal since that body is toothless. However, it's an indication that Europe is moving to the right (as I have been saying for about two years) as the U.S. moves to the left. As they begin to play this tug of war, old friendships will erode and treaties will become meaningless or worthless. However, remember that I know next to nothing about these matters. Either way, my sweetheart is very happy.