Greece is still the Cradle of Democracy

When Goldman Sachs restructured Greek debt some years ago, a major portion of their financial problem was concealed with clever accounting. Needless to say, the 99% had nothing to say about the deal struck for the benefit of the 1%.

Now the 99% is being asked to give up their lifestyle to pay off the debt to save the 1% who were stung by Goldman and to preserve the Eurozone.

If Greece had it’s own currency it could devalue, which would bring Greece into a more realistic equilibrium with its more productive Euro-mates. But as long as they remain a Euro based economy they have no such option.

Now the 99% will get to vote on whether they agree to be shackled by Angela Merkle’s plan to “save” the Euro.

It’s appropriate that Greece is the first place where Economic Democracy takes hold. The 99% are actually getting to decide what happens to the 1% that hold the Golman Sachs Greek Debt.

Still think OCCUPY WALL STREET is irrelevant?

This is only the beginning.

The next vote will be in Italy.

When they return to the Lire and devalue, some beautiful bikes, cars and suits will be on sale. Even some of the 99% will be able to buy one.

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Is Herman Obedient Enough to be V.P.?

Whether Herman Cain can still be the GOP’s Vice Presidential nominee after sexual harassment accusations remains to be seen.

It didn’t stop them from selecting a Supreme Court Justice with a similar problem.

Only the GOP understands why. I suspect obedience plays a part.

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North Anna Startup Next Week

The big bosses at the NRC approved the startup for as early as next week at last nights meeting in Louisa, Virginia.

Then they retreated to a safe distance, beyond 50 miles, back to Maryland Headquarters.

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Prof Niall Ferguson of Harvard Embarrassed a Lot of Alumni on GPS

It’s sad and embarrassing when a Harvard Professor resorts to obfuscation and irrelevant personal attacks in order to make his point with viewers.

The nadir of Ferguson’s contemptable performance came when he sighted China’s move away from government regulation as proof that the U.S. must do the same in order to achieve growth. He humiliated himself in the eyes of anyone with a smattering of understanding, most of all, Harvard educated economists.

To his credit Jeffery Sachs, who suffered Ferguson’s personal attacks, calmly responded that the Catch-up effect [ the industrialization of a largely agrarian society] is the reason for China’s success, as it is for Brazil and India, and holds no lesson with regard to government regulation.

If Professor Ferguson does not know this, his qualifications as a Harvard Professor must be questioned. If he does know this, but chose to obfuscate, he may be trying for a position on Fox News, for which he does appear well qualified.

Thank you Prof Jeffery Sachs of Columbia for giving Mr. Ferguson a well needed economics lesson, between his avalanche of misinformation. I imagine if you were looking for that kind of baloney you would have booked yourself onto FOX, not Fareed Zakaria’s GPS. None the less you succeeded in making you point to anyone willing to listen and think.

See their exchange at this link:

http://i.cdn.turner.com/cnn/.element/apps/cvp/3.0/swf/cnn_416x234_embed.swf?context=embed&videoId=us/2011/10/31/occupy-wall-street-debate.cnn

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Cain beats Perry in Texas according to U of T Poll

Perry thought if he can make it in Texas he can make it anywhere. His first rude awakening was to find that presumption untrue.

But his latest realization must be an unimaginable humiliation, as a University of Texas Poll finds Cain opening a can of whip-ass on the Texas Governor in his home state.

When asked whom they would vote for if the 2012 Republican primary election for president were held today, 27 percent of respondents chose Cain. Perry received 26 percent support, followed by Ron Paul at 12 percent, Mitt Romney at 9 percent and Newt Gingrich at 8 percent.  Eleven percent said they are undecided.

Assuming that Texas Republicans know something the rest of the GOP has yet to learn about Perry, this does not bode well for the Governor.

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DJIA: Greatest Monthly Rise Since 1987, 24 years ago!

September 24th we observed that the markets made a mistake in responding to the fear campaign which threatened the 10,800 support level we had tracked in our series of posts on the DJIA.

We observed:

Every so often the market makes a mistake which creates an opportunity. I suspect this is one of those.

In the intervening month numerous experts from well known Brokerage and Investment Banking houses advised their clients to lighten up their common stock portfolios. Once again the value of being a contrarian was aptly demonstrated when their recommendations almost immediately proved to be poppycock!

The market turned in the best monthly performance in a generation, carrying stocks up from about 10,800 to about 12,200. That’s about a 12% increase, or about what good investors can hope to achieve long term, over say 25 years, as an annual rate of return.

Those who were intimidated by the fear mongers, lost a year last month. Those who took advantage of the market’s mistake made a year’s gain in October.

And as for the double dip recession which the experts said the market was predicting a month ago, you won’t hear much of that this week, after the GDP rose by about 2.5%.

That’s why we said:

It is important to remember that the Stock Market predicted 5 of the last 3 recessions.

So what should you do now, if you were not frightened off by the fear mongers?

Absolutely nothing!

If you must do something, save up for something very nice from Italy. Maybe a Ducati, Lamborghini, or Armani suit. They may be getting cheaper soon.

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TuneIn Radio

For 99 cents you can download this great App for your iPad and find yourself in control of the best Internet Radio Interface, by far. The range of stations is nearly limitless and accessibility by an imaginative range of methods assures you’ll find whatever you are looking for. – Great fun, great radio.

Posted in Better Options, Enjoy!, Music, Superlatives Fail, Tech Light | Leave a comment