I moved my mother over the weekend from West to East... A big physical move, and she found it tough to cope with all the decisions. In the end, we put her up in a motel, made the choices on what was moved or not, and moved. Wow... I'm sore...
- The dollar pushed way higher on Friday as investors world-wide found reasons to question the health of the global economy. As the $$$ pushed higher, the stock market pushed up from is opening which was down.
- Data released on Friday morning showed personal income was down 3.4%. That was not good news -- DON'T CARE. Consumer spending was up slightly, and so (as Mr. Obama said), the payroll tax increase (and the drop in income) did not affect consumer spending.
- Construction spending unexpectedly fell 2.1% (DON'T CARE). Auto sales stayed stable.
- The Italians move closer to new elections -- DON'T CARE.
- Investors will remain reluctant to invest in world-treasuries until after the central banks around the world meet (individually). UK, Japan, Australia, New Zealand all will meet. The currency markets should be choppy today, with some strength in the $$$ until the meetings are over.
- UK - construction shrank more than expected... Manufacturing output also fell... The index of construction activity fell from 48.7 to 46.8, and economists had forecast a reading of 49 -- well under expectations and a significant surprise. British pound up slightly at 7:30 AM.
- Swedish Krona -- Excellent news coming from Sweden on all fronts, and Krona is appreciating rapidly. Will they raise their interest rates? Or will they let their currency strengthen? It is certainly a bright spot if you want to invest in vibrant country.
- Brazilian Real -- Best appreciating currency of the year. Brazil's finance minister, Mantega, said he has abandoned the effort to push the Real down. Well, employment is not that good in Brazil, and so one would want to be cautious about what to invest in Brazil.
- On Debt -- What happens when China (and now Japan is again the number one holder of USA debt) says "no mas". Do you think they will ask nicely to be repaid? Or will they turn their considerable military power this direction demanding repayment?
- Did you know, that the US Government now spends more an MANDATORY spending each year than it takes in with taxes? That does not even take in "discretionary spending". Will the Chinese demand more than repayment in our currency? Something like demanding our natural resources? (Gold, silver, copper, lumber, wheat, soybeans?)
- Look, have you thought about the mandatory cuts in spending which sent our President on an emotional speaking tour that said it will cause Economic Armageddon, and that is a very minor budget cut? Have you ever thought that the Chinese could come in and buy up all our new energy resources, and we have no way to stop them from doing so? Please let me know how you will stop them doing that. When that happens (not if), We, the People, will shift paying OPEC, to paying the Chinese. These are potential unintended consequences of HUGE debt.
- While I could indeed be wrong about this, the least I can do is to suggest you diversify your assets into the global economy and away from the $$$.
- If you think any of this is likely, call up your Congress Representative and ask if this is possible? If they say no, (as my Republican Congress person did), then ask why not? I love this country, but our leaders since Nixon (including Reagan) have put us in a no-win debt slavery situation, and it has escalated under President Obama's reign of in-advisable spending. You can read about "debt slavery" by searching for "debt slavery" with Google (or Bing).
- Repeat after me from the Mogambo Guru "we're all freekin' doomed" http://www.mogamboguru.com
- What can I tell my daughter and her family? What can I tell my grand kids What could I have done differently in voting leaders to our country? Geez, I don't know, to tell you the truth. I'm doing what I can now do to educate young people on the need to work and save so they don't end up "debt slaves", but I have no answers for the country itself.
I was discussing the educational system over the weekend with several different types of people. Gentle Readers, the education is there for the students. People seem willing to blame anything but themselves. One of my favorite people (when she was in the seventh grade - now a Freshman) turned her grades around with a very little coaching. In her first report from High School, she made the honor role, even getting an "A-" in Algebra. Suspiciously, she has a serious boyfriend now, and her grades have gone to C's and D's. Has the education system changed? NOPE, but something in her life has seriously impacted her grades, which when it comes time for College will seriously limit her choices. Is this normal? Of course it is, but she is very lucky to have loving and strict parents that will correct this error. Others are not so fortunate.
Do you get that? The family is in this together, and as long as the young ones do not get addicted to drugs, alcohol and sex, they can compete for a spot in the best education. If they chose to not compete for their education (and discipline themselves), then they have to be shown the downside of those choices. The government is not responsible for your choices (although there are some bureaucrats that think they can pass laws to change parent's and students choices to make those that do not choose wisely - to be successful anyway). Of course, you, gentle reader, know that no matter how much money you spend to enforce your will on others, it is a waste of money and resources.
Let me make if very clear from the little I've learned along the way. Getting into the best Universities in this land and getting a degree is important in your ability to earn over time. Even more so, getting through the undergraduate programs, is important in getting into the best graduate schools, which is even more important.
No matter how "free" your country, only you can make the choices to succeed. It is a "SYSTEM". Did you understand that statement? If you succeed in the system, economically you will succeed.
Oh, my heart is burdened, however, as I know many of our students in the USA, no matter how hard they study, will not make it into those best schools. There is absolutely no explaining to the Valedictorian of Republic High School in Red-Neck small town America that they will not get into Princeton no matter what they do. And there is no explaining to them why Barack Obama with a very low grade point average (comparably) will get into Harvard, Princeton, or wherever. The world is not fair, and you still must strive within the "hand" dealt to you to succeed.
And you, of the tender years, can't know the fears, that your elders grew by.
And so please help, them with your years, they seek the truth before they can die.
Teach, your parents well, their children's hell, will slowly go by.
And feed, them on your dreams, the one they picked, the one you're known by.
Don't you ever ask them why, if they told you you would cry,
So just look at them and sigh, and know they love you.
And so please help, them with your years, they seek the truth before they can die.
Teach, your parents well, their children's hell, will slowly go by.
And feed, them on your dreams, the one they picked, the one you're known by.
Don't you ever ask them why, if they told you you would cry,
So just look at them and sigh, and know they love you.
Crosby Still and Nash... http://www.youtube.com/watch?v=EHtZJC_4YmE (This video is not for anyone under the age of 13).
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