"... an Ethiopian teacher instructing his elementary school class in Marxism-Leninism enthusiastically tells them that their mother is Russia and their father Lenin. The teacher then asks what the children want to be. They answer, in chorus, 'orphans'."
-- Ethiopia the United States and the Soviet Union P. 102
Saturday, May 31, 2008
Friday, May 16, 2008
Fishy Economic Numbers
From the Daily Reckoning - 05/16/2008:
"Last month, the price of gasoline went down 2%, says the Labor Department.
Wait a minute. Do you remember gasoline prices going down in April? We don't. As we recall, oil prices were soaring…and so was the price of gasoline.
We're beginning to sniff something funny in the air…a rat.
...
Generally, we don't trust numbers. Who can trust a 5 after all - with a bottom like a communist sickle and its top nicked from a swastika? Who can trust an eight - wandering back and forth and never getting anywhere? And what about the zero? What does it mean? You put it in front of a number and it means nothing. You put it behind…and all of a sudden you've got 10 times as many. So, let's look a little more at those numbers - that is, at the crooked 4s, the slick 6s, and the empty 0s - put out by the feds.
Getting back to the price of gasoline, we check the records from NY gasoline futures trading and find the price actually rose 12% in April. How come the feds put it down as minus 2%? Turns out, they made a 'seasonal adjustment.' But turning plus 12 into minus two sounds like more than an adjustment; it sounds like either magic or major surgery…like turning a prince into a frog or a fat man into a slim woman.
Elsewhere, we find the feds working their magic on all the primary numbers. The IMF, for examples, says food prices rose 43% last year. Yet, after the feds waved their wands, U.S. food costs were up only 5.1%. And import costs rose 15% year to year - according to the numbers when they first got off the boat. But by the time the Labor Department statisticians had finished 'adjusting' them, they were down to only 0.2%.
Only investors, of course, are gullible enough to believe the government numbers. Consumers believe the numbers they see at the checkout counters and the pumps. What they see is sharply rising prices."
"Last month, the price of gasoline went down 2%, says the Labor Department.
Wait a minute. Do you remember gasoline prices going down in April? We don't. As we recall, oil prices were soaring…and so was the price of gasoline.
We're beginning to sniff something funny in the air…a rat.
...
Generally, we don't trust numbers. Who can trust a 5 after all - with a bottom like a communist sickle and its top nicked from a swastika? Who can trust an eight - wandering back and forth and never getting anywhere? And what about the zero? What does it mean? You put it in front of a number and it means nothing. You put it behind…and all of a sudden you've got 10 times as many. So, let's look a little more at those numbers - that is, at the crooked 4s, the slick 6s, and the empty 0s - put out by the feds.
Getting back to the price of gasoline, we check the records from NY gasoline futures trading and find the price actually rose 12% in April. How come the feds put it down as minus 2%? Turns out, they made a 'seasonal adjustment.' But turning plus 12 into minus two sounds like more than an adjustment; it sounds like either magic or major surgery…like turning a prince into a frog or a fat man into a slim woman.
Elsewhere, we find the feds working their magic on all the primary numbers. The IMF, for examples, says food prices rose 43% last year. Yet, after the feds waved their wands, U.S. food costs were up only 5.1%. And import costs rose 15% year to year - according to the numbers when they first got off the boat. But by the time the Labor Department statisticians had finished 'adjusting' them, they were down to only 0.2%.
Only investors, of course, are gullible enough to believe the government numbers. Consumers believe the numbers they see at the checkout counters and the pumps. What they see is sharply rising prices."
Thursday, May 15, 2008
No Wonder Bear Stearns Failed
A memo sent to Bear Stearns employees last December:
Date: December 13, 2007
To: All 24th Floor Male Employees
From: Jeanne Orgon, R.N.
Subject: Infection Control & Hygiene
In order to prevent the spread of infection and disease, here are a few reminders you should follow to protect yourself and others:
• Flush the toilet and urinal after use.
• Do not use the urinal for disposal of solid matter.
• Clean up after yourself.
• Wash your hands with soap and warm water.
It's the nature of our business to want to rush through things to get back to our desks. However, it is the responsibility of everyone to use the fundamental rules of good hygiene and do their part to ensure that the restroom is kept clean and disease-free.
scanned Image of Letter
Date: December 13, 2007
To: All 24th Floor Male Employees
From: Jeanne Orgon, R.N.
Subject: Infection Control & Hygiene
In order to prevent the spread of infection and disease, here are a few reminders you should follow to protect yourself and others:
• Flush the toilet and urinal after use.
• Do not use the urinal for disposal of solid matter.
• Clean up after yourself.
• Wash your hands with soap and warm water.
It's the nature of our business to want to rush through things to get back to our desks. However, it is the responsibility of everyone to use the fundamental rules of good hygiene and do their part to ensure that the restroom is kept clean and disease-free.
scanned Image of Letter
Monday, May 05, 2008
Dave Barry's Take on Government Rebate Checks…
Q. What is an Economic Stimulus Payment?
A. It is money that the federal government will send to taxpayers.
Q. Where will the government get this money?
A. From taxpayers.
Q. So the government is giving me back my own money?
A. Only a smidgen.
Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV set, thus stimulating the economy.
Q. But isn't that stimulating the economy of China?
A. Shut up.
A. It is money that the federal government will send to taxpayers.
Q. Where will the government get this money?
A. From taxpayers.
Q. So the government is giving me back my own money?
A. Only a smidgen.
Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV set, thus stimulating the economy.
Q. But isn't that stimulating the economy of China?
A. Shut up.
Subscribe to:
Posts (Atom)