What would happen if I throw the polite hillbilly side of me to the dogs and let my ignorant redneck side run this show?
Judging by what happens every time I write a rant; the number of interesting comments on this web site would triple.
My latest rant to attract attention was called “How George Bush Click Here to continue reading.
As part of their work on the Fertility Trap Hypothesis, Edward Hugh and Claus Vistesen argue that an aging demographic profile will lead to an export-oriented economy. More controversially (at least to me), they argue that a move towards an export economy will make it hard to raise birth rates to replacement levels. They think Click Here to continue reading.
As people who follow Iran know, the country is currently dealing with a high inflation rate. So what do they go and do? The Lebanese Daily Star has the answer….
Iran’s moderate press and economists Thursday slammed a decision by President Mahmoud Ahmadinejad to slash interest rates, describing the move as incomprehensible” and risking “economic suicide.”
The rate cut, which economists said could overheat an already inflationary economy, appeared to have been taken without the knowledge of Iran’s economy minister, who had said exactly the opposite just hours earlier.
“Economic suicide for banks,” the Mardomsalari (Democracy) newspaper said of Tuesday’s move.
“The economy minister and the head of the Central Bank have to explain this decision since this decree is incomprehensible for economists,” Saeed Shirkavand, economy minister in the previous reformist government, was quoted as saying.
Apparently this decision was made the normal way that decision are made when one madman is calling the shots (this from the Guardian)….
Iran’s financial system suffered a fresh jolt yesterday with panic selling on the stock market after the president, Mahmoud Ahmadinejad, abruptly ordered banks to cut interest rates sharply, despite surging inflation.
The order, which Mr Ahmadinejad issued by telephone during a visit to Belarus and which flew in the face of expert advice – has triggered warnings of a financial crisis and spiralling corruption amid fears of a capital flight from the country’s lending institutions.
The main thing that worries me: If they are stupid enough to do this, what else are they stupid enough to do?
This week’s rant comes from the one and only Joel Salatin who is famous for popularizing pastured poultry among other things. I have heard Mr. Salatin speak and I have to say he was one of the most charismatic speakers I have ever heard.
That is not nessearly a good thing in my book. I have an ingrained suspicion of charismatic types. I am always wondering how they are trying to blind me.
Ingrained suspicion aside, I have to say that I agree with Salatin’s complaint in this rant. The government, not the market place, is destroying the small family farm in this country.
I knew nothing about manufacturing or business when I came to Acme, so I heave learned all my notions of the proper way to do things from influences within the company. Any time I point out something that is not being done the right way, there is a discrepancy between theory and practice in Acme.
Now Click Here to continue reading.
The first chart of interest comes from Calculated Risk and it shows the percentage of equity withdrawal as a percentage of disposable income and in absolute dollar amounts.
You can find the chart here and the post that was built around it here.
Looking at this chart will make you realize how dependent the US economy was on rising real estate prices over the last 5 years.
Another chart of interest comes from Demography Matters. It shows how many woman in various countries think having no children as being the ideal. Looking at this chart, it is hard to imagine that Germany demographics are ever going to get better. As Edward Hugh says…
Now what is striking here is the situation in the German speaking countries, where the percentage in Austria who are willing to answer “none” is now 12.6%, while in Germany it is 16.6, and in both cases this is a large and significant change over the previous generation.
From the Financial Times…..
The Chinese government is to use $3bn of its vast foreign exchange reserves to buy a 9.9 per cent stake in Blackstone, the US buy-out fund, in an unprecedented move that underlines Beijing’s desire to tap into the private equity boom.
The investment will coincide with Blackstone’s landmark $40bn-plus stock market listing, expected in the next few months, and will allow the private equity group to nearly double its original target of raising $4bn.
Not only are the Chinese subsidizing the US government (through the purchase of treasures) and the US housing market (through the purchase of Fannie Mae and other agency bonds. They are now going to pour money into the stock market. And this at a time when P/E ratio’s in America are already at a record high. This is just unreal.
I wonder if the Chinese are awere that takeover booms traditionally herald a crash in the stock market?
Of course, 3 billion is small change in the grand scheme of things. It is certainly small change compared to the 300 to 400 billion that the China’s Central bank is going to spend on the US this year (on present trends). Still, it cracks me up. Next thing I know China’s central bank will be playing the lottery here in the US.
I mentioned in my previous posts the planners and leaders who feel that it is normal to work overtime. They are the ones who, without having any authority over me, could drive me to work long hours. But they are also the ones who convinced me not to work so many, although I may forget Click Here to continue reading.
When Ape Man starts calling people stupid in print, it is best just to sit back and let him blow of some steam. In this rant he pours out scorn onto President Bush and the political leadership of China. Hopefully he will recover his sense of decorum soon.
This week’s essay of the week is not particularly profound. Nor is it particularly well written. Instead is just a story that some Newsweek reporters wrote. But it is a story that I think is well worth reading.
The emergency room is something that we all just assume will be there when we need it, but we rarely think about the people who have to work in those places. Or the cost to keep something like that going.
