Friday, July 31, 2009
A Thorough Review of the Gates Incident
The major gives great ponderance and time to this issue, more or less resolving it once and for all.
Ah, the Smoke and Mirrors Begins
GDP contracted at only 1% annualized. And the reason for the slow down in the "slow down?"
"Less drastic spending cuts by businesses, a resumption of spending by federal and local governments and an improved trade picture were key forces behind the better performance. Consumers, though, pulled back. Rising unemployment, shrunken nest eggs and lower home values have weighed down their spending."
In other words, everything still sucks, except for the government spending money which makes the numbers look better than what things really are.
And given the worthless programs the government is spending money on, I'm going to guess if we took that out, GDP would have contracted by the 1.5, if not 2.5% economists were predicting.
"Less drastic spending cuts by businesses, a resumption of spending by federal and local governments and an improved trade picture were key forces behind the better performance. Consumers, though, pulled back. Rising unemployment, shrunken nest eggs and lower home values have weighed down their spending."
In other words, everything still sucks, except for the government spending money which makes the numbers look better than what things really are.
And given the worthless programs the government is spending money on, I'm going to guess if we took that out, GDP would have contracted by the 1.5, if not 2.5% economists were predicting.
The Captain is Victorious - Update
This is an update. You will see pictures below:
A very Professor Farnsworth "good news" all fellow junior, deputy, aspiring, official and otherwise economists!
Today I finished a 20 mile hike in the Elk Wilderness area of the Black Hills. Hiked from Sylvan Lake to Horsethief Lake, then back up a tortuously long hike, plagued with poison ivy and switch backs that would make Currie Hill look like a cake walk (and no, I'm not joking).
Total time was 7 hours and 38 minutes.
However, even this feat is dwarfed to a microscopic level as to what happened yesterday.
Your Captain found (to his best estimation mind you) a fully intact dinosaur fossil.
The jaw bone, replete with two teeth, was found protruding from a cliff side in one of my many long hikes. Based on the way the fossil is protruding, it suggests the neck and rest of the body is still in the side of the cliff, ready for complete excavation.
I know this seems "nerdy" to most normal people, but a find this good is quite rare. Soon you will see me in "Amateur Fossil Hunter Quarterly" being fawned over by fossil hunting babe groupies (totally true, they totally exist!)
In any case, I am currently trying to find out what government agency I report this to, but will keep all of those interested updated.
A very Professor Farnsworth "good news" all fellow junior, deputy, aspiring, official and otherwise economists!
Today I finished a 20 mile hike in the Elk Wilderness area of the Black Hills. Hiked from Sylvan Lake to Horsethief Lake, then back up a tortuously long hike, plagued with poison ivy and switch backs that would make Currie Hill look like a cake walk (and no, I'm not joking).
Total time was 7 hours and 38 minutes.
However, even this feat is dwarfed to a microscopic level as to what happened yesterday.
Your Captain found (to his best estimation mind you) a fully intact dinosaur fossil.
The jaw bone, replete with two teeth, was found protruding from a cliff side in one of my many long hikes. Based on the way the fossil is protruding, it suggests the neck and rest of the body is still in the side of the cliff, ready for complete excavation.
I know this seems "nerdy" to most normal people, but a find this good is quite rare. Soon you will see me in "Amateur Fossil Hunter Quarterly" being fawned over by fossil hunting babe groupies (totally true, they totally exist!)
In any case, I am currently trying to find out what government agency I report this to, but will keep all of those interested updated.
Thursday, July 30, 2009
Wednesday, July 29, 2009
Recession Medicine
Hey, you unemployed?
Hey, you tired looking for jobs that aren't there, and even if they were, they were going to be given to the boss's nephew anyway and all you'd do is waste days, if not weeks pointlessly applying for them and futilely interviewing for them with some 23 year old HR ditz who had no intention of hiring your over-qualified patoot anyway?
Hey, you completely burnt out about worrying about things outside your control?
Well then just watch some cartoons!
Seriously, best thing you can do in this recession is realize you don't control this situation and just relax and let go of the guilt. No corporation will hire you unless you know somebody and besides which, they're laying people off. So don't sweat it, watch cartoons.
Hey, you tired looking for jobs that aren't there, and even if they were, they were going to be given to the boss's nephew anyway and all you'd do is waste days, if not weeks pointlessly applying for them and futilely interviewing for them with some 23 year old HR ditz who had no intention of hiring your over-qualified patoot anyway?
Hey, you completely burnt out about worrying about things outside your control?
Well then just watch some cartoons!
Seriously, best thing you can do in this recession is realize you don't control this situation and just relax and let go of the guilt. No corporation will hire you unless you know somebody and besides which, they're laying people off. So don't sweat it, watch cartoons.
Organic = Pointless
HA!
Of course those of us with the slightest bit of sense knew this, but I just like to see another scam get exposed.
Of course (and get your paper and pencils out, because the Captain is about to make a very important point) IT'S NEVER BEEN ABOUT HEALTH AS MUCH AS IT'S BEEN ABOUT MAKING THOSE WHO BUY "ORGANIC" FEEL GOOD ABOUT THEIR PIOUS SELVES.
Ergo, even though this is a scam, a farce, a ruse, the sheople will continue to pay a 50% mark-up for...
nothing.
Of course those of us with the slightest bit of sense knew this, but I just like to see another scam get exposed.
Of course (and get your paper and pencils out, because the Captain is about to make a very important point) IT'S NEVER BEEN ABOUT HEALTH AS MUCH AS IT'S BEEN ABOUT MAKING THOSE WHO BUY "ORGANIC" FEEL GOOD ABOUT THEIR PIOUS SELVES.
Ergo, even though this is a scam, a farce, a ruse, the sheople will continue to pay a 50% mark-up for...
nothing.
Obama Soccer Moms
I drive a lot and the reason I drive a lot is that I teach a lot of dance classes. I know pretty much every gas station in between Cambridge, Minnesota to the far north and Mankato, Minnesota to the far south. But what I've seen more and more of is the Obama Soccer mom.
Let me explain.
At least once a week I see a 30 something mom. She has her children in the car with her. They are toddlers and thus have car seats as well as their mom hovering over them, trying to maintain order and avoid chaos as she tries to pump gas into her Subaru Forrester or some kind of SUV.
On the car though is invariably an Obama/Biden sticker.
Now I've made this chart before, but I think it behooves reshowing because it proves something Joe Soucheray always says;
Leftists/liberals can't link.
What this basically means is that when a leftist makes a decision, they cannot follow the chain of events that decision will trigger. They cannot see what the ramifications and consequences are of their actions. And what the chart above shows is how much new federal government debt has been saddled on each individual American.
And this is the point I am trying to make. These Obama Soccer Moms have NO CLUE what they've just done to their children. Not a clue. Be it ignorance about government finances, be it they're just suppose to stay at home and bring up the kids, but leave the finances to daddy, or they're too busy dreaming about the Magic Obama Unicorn Obama's promised to give them with the Obama Unicorn program, this particular Obama Soccer Mom has no clue she's just indebted her 3 children to the tune of $60,000.
Now I know, I know, she didn't "mean" to enslave her children to the government's debt, just like teenage mothers didn't mean to bring an innocent child into a life of abject poverty, but for once could I admit a bit of economic shadenfreude and say it's good to see people having to pay the price for having "good intentions" with no desire to have the intellectual rigor to see if those intentions are achievable, let alone adult?
Let me explain.
At least once a week I see a 30 something mom. She has her children in the car with her. They are toddlers and thus have car seats as well as their mom hovering over them, trying to maintain order and avoid chaos as she tries to pump gas into her Subaru Forrester or some kind of SUV.
On the car though is invariably an Obama/Biden sticker.
Now I've made this chart before, but I think it behooves reshowing because it proves something Joe Soucheray always says;
Leftists/liberals can't link.
What this basically means is that when a leftist makes a decision, they cannot follow the chain of events that decision will trigger. They cannot see what the ramifications and consequences are of their actions. And what the chart above shows is how much new federal government debt has been saddled on each individual American.
And this is the point I am trying to make. These Obama Soccer Moms have NO CLUE what they've just done to their children. Not a clue. Be it ignorance about government finances, be it they're just suppose to stay at home and bring up the kids, but leave the finances to daddy, or they're too busy dreaming about the Magic Obama Unicorn Obama's promised to give them with the Obama Unicorn program, this particular Obama Soccer Mom has no clue she's just indebted her 3 children to the tune of $60,000.
Now I know, I know, she didn't "mean" to enslave her children to the government's debt, just like teenage mothers didn't mean to bring an innocent child into a life of abject poverty, but for once could I admit a bit of economic shadenfreude and say it's good to see people having to pay the price for having "good intentions" with no desire to have the intellectual rigor to see if those intentions are achievable, let alone adult?
Best Explanation of the Rationalization Hamster
For the younger men out there who are drifting aimlessly with no compass, here is a piece of wisdom I wish I had when I was younger.
Now go workout, buy a motorcycle and learn the art of indifference.
Now go workout, buy a motorcycle and learn the art of indifference.
Monday, July 27, 2009
Ah, Men Don't Want to Lose Half Their Net Worth
Sorry, friend sent this to me and I find it hilarious not one man was consulted on this.
No, seriously ladies, keep reading what other ladies write about men without even asking a single guy what he thinks. It's very cute watching the blind leading the blind.
No, seriously ladies, keep reading what other ladies write about men without even asking a single guy what he thinks. It's very cute watching the blind leading the blind.
A Reason for Culling the Human Population
Somebody shoot this preppy, spoiled, brat suburbanite for me, please.
And like, um, like I just think, that um, like, we should, um like, maybe, just uh, require that uh, like people should have to take a, like um, test to um like, see if they like, um, are smart enough to like be, uh, able to vote.
And you people wonder how Obama got elected.
And like, um, like I just think, that um, like, we should, um like, maybe, just uh, require that uh, like people should have to take a, like um, test to um like, see if they like, um, are smart enough to like be, uh, able to vote.
And you people wonder how Obama got elected.
Leftists Hate Math
A KEY and VITAL aspect to my philosophy of politics is that leftists/liberals hate math. The reason why is that math is not only difficult (therefore avoid it and major in journalism and gtget your masters in aromatherapy), but it also has a tendency to make things "right" or "wrong." Prove things to be "true" or "false." And otherwise provide empirical evidence that socialism doesn't work.
Ergo they avoid it like the plague.
But Steve sent me this article which reminded me again of the reality of the labor market.
Thanks Steve!
Ergo they avoid it like the plague.
But Steve sent me this article which reminded me again of the reality of the labor market.
Thanks Steve!
Uncle Jay for President 2012
Seriously, he would make a grand candidate...and by comparison with Obama he'd be godlike.
Saturday, July 25, 2009
Henry Gates
Richard, is a young black friend of mine.
I call him black because he is too proud, too upstanding, and just too damn much of a man to suffer the politically correct term of "African American."
He is like Lawrence, a common caller to my radio show of yore who happened to be black too, and he was proud of it. He, on my show, adamantly insisted he was not an "African American" but was a damn proud black man. God bless him.
In either case, both men stood on their own ground based on their own accomplishments and gave TRUE, GENUINE pride and honor to those who call themselves black.
But this schmuck, is just that, a schmuck. And though I know that I risk being called a racist, and that my black friends risk being called an "Uncle Tom" we all agree that this Henry Gates Jr is the epitome of schumkiness. Not because he's acting like an ass. Not because he's acting like a hypersensitive putz looking for the next excuse to claim victimhood like the "Reverends" Hackson and Sharpton. But because he disgraces those true and honorable people who happen to have the same hue/pigmentation of skin that he does, but share nothing of his cowardly and childishly morality.
I have said it before and I will say it again.
I befriend all people of all stipes and the reason you're my friend has nothing to do with the color of your skin or your ethnicity, but your quality and caliber of your person. And this putz, this vermin that falsely postures himself as a "representative" of black people while acting like a complete ass only belies the fact he's in it for himself and nothing as noble as bring about true and genuine progress to those of different colors.
It's also a damn good reason not to send your kids to Harvard, let alone hire any idiotic worthless Blue Blood moron that came from that decrepit school.
I call him black because he is too proud, too upstanding, and just too damn much of a man to suffer the politically correct term of "African American."
He is like Lawrence, a common caller to my radio show of yore who happened to be black too, and he was proud of it. He, on my show, adamantly insisted he was not an "African American" but was a damn proud black man. God bless him.
In either case, both men stood on their own ground based on their own accomplishments and gave TRUE, GENUINE pride and honor to those who call themselves black.
But this schmuck, is just that, a schmuck. And though I know that I risk being called a racist, and that my black friends risk being called an "Uncle Tom" we all agree that this Henry Gates Jr is the epitome of schumkiness. Not because he's acting like an ass. Not because he's acting like a hypersensitive putz looking for the next excuse to claim victimhood like the "Reverends" Hackson and Sharpton. But because he disgraces those true and honorable people who happen to have the same hue/pigmentation of skin that he does, but share nothing of his cowardly and childishly morality.
I have said it before and I will say it again.
I befriend all people of all stipes and the reason you're my friend has nothing to do with the color of your skin or your ethnicity, but your quality and caliber of your person. And this putz, this vermin that falsely postures himself as a "representative" of black people while acting like a complete ass only belies the fact he's in it for himself and nothing as noble as bring about true and genuine progress to those of different colors.
It's also a damn good reason not to send your kids to Harvard, let alone hire any idiotic worthless Blue Blood moron that came from that decrepit school.
Different Types of Recession
An outstanding review of the different types of recession.
Notice the V - recession is where you let free markets correct on their own and the recovery is the quickest.
The L recession unfortunately is what we'll have.
The S - Recession though is a very nice idea.
Notice the V - recession is where you let free markets correct on their own and the recovery is the quickest.
The L recession unfortunately is what we'll have.
The S - Recession though is a very nice idea.
While on Vacation
My girlfriend likes to sleep in late, and since we're on vacation, I figured I'd run some morning errands and get things situated before we start another big day. This way no time is wasted, my beloved can sleep in, but when it's time to get up, there's nothing to do, but GO and DO!
Today we are going to climb Battle Mountain, about a 4,500 hill really, but it's a good morning workout to begin the day with. I spent part of the morning tracking a place to climb it, part of the morning putting in a new air filter on the car, part of the morning getting supplies, and part of the morning getting my girlfriend coffee.
I return to our cabin and what do I see?
My girlfriend watching You Tube videos on the laptop whilst STILL in bed.
Middle of the world's most beautiful country, mountains galore to climb, tons of streams to fish and she's watching You Tube videos.
I said, "you're watching You Tube videos?"
Sheepishly she replies, "yes" and then giggles at me.
God bless her.
Today we are going to climb Battle Mountain, about a 4,500 hill really, but it's a good morning workout to begin the day with. I spent part of the morning tracking a place to climb it, part of the morning putting in a new air filter on the car, part of the morning getting supplies, and part of the morning getting my girlfriend coffee.
I return to our cabin and what do I see?
My girlfriend watching You Tube videos on the laptop whilst STILL in bed.
Middle of the world's most beautiful country, mountains galore to climb, tons of streams to fish and she's watching You Tube videos.
I said, "you're watching You Tube videos?"
Sheepishly she replies, "yes" and then giggles at me.
God bless her.
Friday, July 24, 2009
This is Our President?
Have a beer? You're kidding me?
Don't you have more important issues to tend to?
Wednesday, July 22, 2009
The Captain's Great Expedition!
Howdy All!
Your beloved captain is off! Off to the blessed land of South Dakota for 6 weeks. 6 blessed weeks of...
ADVENTURE!
EXPEDITION!
EXPLORATION!
and as one reader wrote me...
EXCELLENT PLUMMAGE DURING THE STURGIS RALLY!
Yes, what trials and tribulations await the Captain!?
In any case, starting tomorrow our beloved guest writers will be chipping in as I will be in arguably the remotest parts of the country hunting down fossils, venturing where humans haven't in 500 years, catching MUCHO fish, and bagging peaks.
Also, we filmed the seminar last night and it went very well.
The video in its entirety is about 20 hours 10 minutes. A "professional" version will be compiled which will only be 30 minutes to an hour. I will be putting together a full You Tube version, unless it is too cumbersome, in which case I will just burn it to DVD and for shipping, handling and some profit priced in for myself, will be selling it (it won't be that expensive).
In any case I will miss all you guys, but will be checking in intermittently to see how youse are all doing.
The Captain
Your beloved captain is off! Off to the blessed land of South Dakota for 6 weeks. 6 blessed weeks of...
ADVENTURE!
EXPEDITION!
EXPLORATION!
and as one reader wrote me...
EXCELLENT PLUMMAGE DURING THE STURGIS RALLY!
Yes, what trials and tribulations await the Captain!?
In any case, starting tomorrow our beloved guest writers will be chipping in as I will be in arguably the remotest parts of the country hunting down fossils, venturing where humans haven't in 500 years, catching MUCHO fish, and bagging peaks.
Also, we filmed the seminar last night and it went very well.
The video in its entirety is about 20 hours 10 minutes. A "professional" version will be compiled which will only be 30 minutes to an hour. I will be putting together a full You Tube version, unless it is too cumbersome, in which case I will just burn it to DVD and for shipping, handling and some profit priced in for myself, will be selling it (it won't be that expensive).
In any case I will miss all you guys, but will be checking in intermittently to see how youse are all doing.
The Captain
Tuesday, July 21, 2009
We Don't Spend Enough on Health Care
Given Obama's socialist agenda to spend more on health care, may I point out, we already spend more than most nations in terms of BOTH private AND GOVERNMENT SPENDING?
It begs the question to all liberals out there, "HOW MUCH IS ENOUGH?"
It begs the question to all liberals out there, "HOW MUCH IS ENOUGH?"
Mike Castle
Looks like Mike will pay just like Norm Coleman did for being a politician and NOT a statesman.
Get's interesting around the 4 minute mark.
ht to Kate
Monday, July 20, 2009
The Captain's 6 Week Vacation
I have a 6 week vacation planned.
The reason I have a six week vacation planned is;
1. I do not have children.
2. I am self-employed and instead of answering to some PHB, middle aged moron who maintains the status quo, I've set up a nice little operation that is above all other things, EFFICIENT, and permits me to take this 6 week vacation instead of the paltry (gee-thanks-master) 2 week vacation most other people seem to slave themselves over
3. I spend less than I make, don't buy new cars or clothes, and more or less have rejected the consumption mentality that has driven most other Americans into debt, and thusly have a small, but positive cash flow that affords me this lifestyle and opportunities as such
4. Obama and the socialists in congress has made it economically not worth my while to work more.
5. I deserve every second of it because of how much I've worked in the past 20 years and instead of mommy and daddy paying my way through a 2 week vacation in Europe when I was 19, I'm putting myself out to the Badlands, Black Hills and Big Horns in the South Dakota Wyoming way and will not be in any rush to do anything but fossil hunt, mountain climb, rock climb, fish and explore.
Regardless, as I will be gone for quite some time and out in the middle of nowhere, I will not be making as many posts between July 23rd and August 31st. I will still be making the occasional post, but not as much.
HOWEVER, do not fear!
I have high trained and DEPUTIZED Cappy Cap guest writing economists that will help pick up the slack.
Our very own and beloved Prisoner of War in California, The Major (who is an actual, real, official economist) will be writing for your reading pleasure, as well as an associate of mine, who will remain anonymous.
Understand their writing does not necessarily reflect my own beliefs, but for the most part probably will.
In any case, grant them the same honor and privileges as you do me. I will be moderating comments though as always to keep the trolls out, not to mention the daily moronic commentary I get from rabid leftists that want to believe their journalism degree will somehow save the world.
The reason I have a six week vacation planned is;
1. I do not have children.
2. I am self-employed and instead of answering to some PHB, middle aged moron who maintains the status quo, I've set up a nice little operation that is above all other things, EFFICIENT, and permits me to take this 6 week vacation instead of the paltry (gee-thanks-master) 2 week vacation most other people seem to slave themselves over
3. I spend less than I make, don't buy new cars or clothes, and more or less have rejected the consumption mentality that has driven most other Americans into debt, and thusly have a small, but positive cash flow that affords me this lifestyle and opportunities as such
4. Obama and the socialists in congress has made it economically not worth my while to work more.
5. I deserve every second of it because of how much I've worked in the past 20 years and instead of mommy and daddy paying my way through a 2 week vacation in Europe when I was 19, I'm putting myself out to the Badlands, Black Hills and Big Horns in the South Dakota Wyoming way and will not be in any rush to do anything but fossil hunt, mountain climb, rock climb, fish and explore.
Regardless, as I will be gone for quite some time and out in the middle of nowhere, I will not be making as many posts between July 23rd and August 31st. I will still be making the occasional post, but not as much.
HOWEVER, do not fear!
I have high trained and DEPUTIZED Cappy Cap guest writing economists that will help pick up the slack.
Our very own and beloved Prisoner of War in California, The Major (who is an actual, real, official economist) will be writing for your reading pleasure, as well as an associate of mine, who will remain anonymous.
Understand their writing does not necessarily reflect my own beliefs, but for the most part probably will.
In any case, grant them the same honor and privileges as you do me. I will be moderating comments though as always to keep the trolls out, not to mention the daily moronic commentary I get from rabid leftists that want to believe their journalism degree will somehow save the world.
Saturday, July 18, 2009
How to Argue Against Socialism and Defend Capitalism
Hi All,
I have finalized a date and a location for the seminar. It will be THIS TUESDAY, July 21st from 5-745PM.
Unfortunately only folks within driving distance of Minneapolis will be able to attend conveniently, but for those of you still interested, we will be filming it and putting it up on the internet (assuming we can put 2 hours worth of seminar on the internet).
There are only 30 spaces available so please let me know if you want to attend by e-mailing me at
CAPTcapitalism@yahoo.com
I will then send those interested the location and details.
Please do dress up a little bit as we will be filming this and I think it's going on the local public access cable show or something.
El Cap-i-tan
I have finalized a date and a location for the seminar. It will be THIS TUESDAY, July 21st from 5-745PM.
Unfortunately only folks within driving distance of Minneapolis will be able to attend conveniently, but for those of you still interested, we will be filming it and putting it up on the internet (assuming we can put 2 hours worth of seminar on the internet).
There are only 30 spaces available so please let me know if you want to attend by e-mailing me at
CAPTcapitalism@yahoo.com
I will then send those interested the location and details.
Please do dress up a little bit as we will be filming this and I think it's going on the local public access cable show or something.
El Cap-i-tan
Associated Bank
I came up with a brilliant idea.
Since bankers were corrupt and would always try their best to get loans, no matter how bad, approved, and this would run contrary to the job of credit analysts whose job it is to guard the bank's capital and prevent bad loans from going through, I would outsource the underwriting process to an independent third part.
I called it "Independent Analytics."
I then drove around the Twin Cities metro, gave them my presentation about the merits of outsourcing their underwriting to me, and presumably the staff of analysts I would hire to handle all the demand.
Of course there was no interest because "they" knew what was best for the company and keeping the underwriting process in house and under the influence of commission driven bankers. Besides which they were fully "banking" on a bailout.
However, there was one bank where the gray haired, middle aged man assured me that they did not need my services, not because it wasn't a good idea, but because they had seen this housing bubble coming a mile away and their analysts were good, fine analysts.
Associated Bank.
Well, like many other banks, turns out "they" were not special and "they" had just as many bad loans as the next bank.
So to the middle-aged dumbass at Associated Bank (and perhaps any shareholders that are listening) allow me this one question;
"If you had hired the services of Independent Analytics, would you be in this situation?"
I didn't think so.
Since bankers were corrupt and would always try their best to get loans, no matter how bad, approved, and this would run contrary to the job of credit analysts whose job it is to guard the bank's capital and prevent bad loans from going through, I would outsource the underwriting process to an independent third part.
I called it "Independent Analytics."
I then drove around the Twin Cities metro, gave them my presentation about the merits of outsourcing their underwriting to me, and presumably the staff of analysts I would hire to handle all the demand.
Of course there was no interest because "they" knew what was best for the company and keeping the underwriting process in house and under the influence of commission driven bankers. Besides which they were fully "banking" on a bailout.
However, there was one bank where the gray haired, middle aged man assured me that they did not need my services, not because it wasn't a good idea, but because they had seen this housing bubble coming a mile away and their analysts were good, fine analysts.
Associated Bank.
Well, like many other banks, turns out "they" were not special and "they" had just as many bad loans as the next bank.
So to the middle-aged dumbass at Associated Bank (and perhaps any shareholders that are listening) allow me this one question;
"If you had hired the services of Independent Analytics, would you be in this situation?"
I didn't think so.
Friday, July 17, 2009
Monthly "Obscene Profit Break"
Hi All,
It is once again the monthly time to push my wares and services so that I, your beloved Captain, may continue to put food on the table, pay the mortgage, and go fossil hunting in South Dakota.
Yes there is of course the book you may buy, however, more importantly are my online classes, which have sustained about a 40% drop in enrollment. Obviously due to the economy, however, what better time than a RECESSION to take a class on finance and economics? Regardless, the drop in enrollment is really actually hurting me financially, so if you know anybody interested in taking a class on either investing in stocks or just a damn fine class on personal financial management, send them my way.
You may also help the Captain by just making a donation. You don't get anything but warm fuzzies from this. Of course, if you are a super rich person and want to make a donation of an amount that would sayyyyy, pay off my mortgage? Imagine the lifetime of super warm fuzzies that would generate. It would also make Natasha very happy, and who wouldn't want Natasha to be happy?
What will also make Natasha happy is just buying some "stuff." "Stuff" of the capitalist nature. Not much up there, but hey, if you need a neato shirt or a neato coffee mug
Finally, you can just mention the Captain to family, friends...enemies... or people you're just indifferent about.
It is once again the monthly time to push my wares and services so that I, your beloved Captain, may continue to put food on the table, pay the mortgage, and go fossil hunting in South Dakota.
Yes there is of course the book you may buy, however, more importantly are my online classes, which have sustained about a 40% drop in enrollment. Obviously due to the economy, however, what better time than a RECESSION to take a class on finance and economics? Regardless, the drop in enrollment is really actually hurting me financially, so if you know anybody interested in taking a class on either investing in stocks or just a damn fine class on personal financial management, send them my way.
You may also help the Captain by just making a donation. You don't get anything but warm fuzzies from this. Of course, if you are a super rich person and want to make a donation of an amount that would sayyyyy, pay off my mortgage? Imagine the lifetime of super warm fuzzies that would generate. It would also make Natasha very happy, and who wouldn't want Natasha to be happy?
What will also make Natasha happy is just buying some "stuff." "Stuff" of the capitalist nature. Not much up there, but hey, if you need a neato shirt or a neato coffee mug
Finally, you can just mention the Captain to family, friends...enemies... or people you're just indifferent about.
Thursday, July 16, 2009
The Department of Walking
I was listening to Garage Logic and this just needed to be pointed out:
-Holy "My Nephew Needs a Job" Batman. A WALK AMBASSADOR???? Seriously, what worthless individual with a worthless degree is going to get that job? How much you want to bet he's related to somebody on the city council? Any takers?
Never move or invest in Minneapolis. Seriously. Just don't bother investing or living here. The voting population is so liberal and so damn ignorant of basic public finances, that you may as well live in North Korea. You will see Minneapolis become a colder version of Detroit before your days are over, please be an observer, not a participant.
The City of Minneapolis now effectively has a department of WALKING.
Apparently the citizens of Minneapolis are so stupid they need a GOVERNMENT PROGRAM TO TEACH THEM HOW TO WALK OR BIKE! Here is the PDF file in its entirety, but allow me to point out three major things.
1. The goals or objective of this program only betray it for it's true purpose: to employ otherwise unemployable people.
"BUILD A CULTURE OF COURTESY, ACCEPTANCE AND SAFETY FOR ALL MODE SHARES????"
"LONG TERM COMMITTED STAKEHOLDERS????"
"SOCIAL NORM WHERE WALKING AND BIKING ARE PART OF EVERYDAY ROUTINES?"
How, precisely is the government supposed to do this? Is this not just done naturally? And when it is -10 degrees outside with 13 inches of snow, HOW DOES WALKING/BIKING BECOME A PART OF AN EVERYDAY ROUTINE?
2. WALK AMBASSADORS/CLASSES ON WALKING
-Holy "My Nephew Needs a Job" Batman. A WALK AMBASSADOR???? Seriously, what worthless individual with a worthless degree is going to get that job? How much you want to bet he's related to somebody on the city council? Any takers?
- CLASSES ON WALKING??????? Wha, huh, fra?????
3. You combine this BS with the $200,000 used to get Minneapolis Citizens to drink tap water and the $50,000 per drinking fountain program, AND THE CITY COUNCIL, ALONG WITH THE IDIOTIC VOTERS OF MINNEAPOLIS WONDER WHY THERE'S A BUDGET CRUNCH!?
So look, let me put it to you this way folks.
Never move or invest in Minneapolis. Seriously. Just don't bother investing or living here. The voting population is so liberal and so damn ignorant of basic public finances, that you may as well live in North Korea. You will see Minneapolis become a colder version of Detroit before your days are over, please be an observer, not a participant.
Wednesday, July 15, 2009
Tuesday, July 14, 2009
Appraisers Are Preventing a Recovery
As you all know, I am not one who has a vested interest in inflating property values. Matter of fact, I was sounding the alarms when I saw bogus "name your price appraisals" come across my desk whenst I was in the banking industry.
However, today the pendulum has swung to the other side and not just the other side, but to just as much of the extreme as when prices were outrageously high. For when I had my house appraised recently, not only did it come in below what I was expecting, but so low that I literally laughed at it. Not only because I would never sell it for that, not only because the LAND alone (in my humble opinion) was worth more, but because the rental income I generate alone would be 50% MORE than what a mortgage would be to finance it 100% for that price.
So let me explain to you what is going on.
First of all you must understand that the appraising industry which is a VITAL part of this economy (as it conveys price information to the market about the largest single asset people own - THEIR HOMES) is occupied by nothing more than 100%, grade A, morons.
First they would whore themselves out to whoever would pay them the most to "deliver" the price the borrower or the bank needed for the deal to go through back during the bubble days.
Now they're just engaging in CYA.
So you're not dealing with brilliant people, you're just dealing with people who go where the money is.
Second, because of their stupidity the problem is that they're not doing their job and that is ACCURATELY APPRAISING PROPERTY. The problem this presents is that it stunts or at least mutes part of the "stimulus" plan in that while (presumably) all this TARP money and bailout money was to be used to help provide low interest rate loans so the masses could refinance at lower rates and thus improve their personal finances, it's never loaned out because why????
Oops! Sorry, your house appraisal came in too low. We can't refinance.
(Never mind that in some cases if the banks don't refinance they'll end up foreclosing and repossessing a house that is less than what is owed to them and it would be in their best interest to refinance, but, eh, banks are even more moronic than the appraisers)
Regardless, the whole point is that while people would like to refinance, they would like to save money, and we would like to get this economy back on the road again, the appraisers effectively prevent this with their insanely low appraisals.
Now I know why this is happening, for whilst my days as a credit analyst, part of my job was to audit these appraisals. And to understand why your house is "worth" only 50% of what it was before and why you were shot down for the loan and the bank is now going to repossess a presumably worthless property, you must understand the three appraisal techniques.
First there is the cost approach. This basically states the value of the home is the amount it costs to build it.
Then there is the income approach. This is like a "discounted cash flow" approach to valuing property. It theorizes if it was rented out what kind of value would those cash flows give the property.
Then there is the all important "sales comparison" approach. This takes sales of similar properties in similar areas and then applies similar prices to your property.
And that is the approach where the problem lies.
For you see, appraisers take RECENT sales. The problem this presents is that "What if you were in a bubble?" Or conversely, "What if you were in the worst housing market ever?" When housing, and the mortgages used to finance it, are presumably long term assets.
Understand the problem this presents when trying to value properties.
If you valued on property based on the sales approach 3 years ago, it would be overvalued.
If you valued it today (I'm getting the feeling) it would be undervalued due to the majority of sales being foreclosures.
But the bank has typically a 30 year mortgage on it, and you would plan to live in the home for more than 5 years.
This means the value of a home shouldn't be based on the current, minute to minute market fluctuations in home prices, but rather a long term rolling average.
But, of course, again, try to tell that to appraisers or explain that to banks. And you'll see why we have to bail out the banking industry and while the appraisal industry, vital as it may be to our entire financial system and economy, is nothing but a bunch of lemmings.
However, today the pendulum has swung to the other side and not just the other side, but to just as much of the extreme as when prices were outrageously high. For when I had my house appraised recently, not only did it come in below what I was expecting, but so low that I literally laughed at it. Not only because I would never sell it for that, not only because the LAND alone (in my humble opinion) was worth more, but because the rental income I generate alone would be 50% MORE than what a mortgage would be to finance it 100% for that price.
So let me explain to you what is going on.
First of all you must understand that the appraising industry which is a VITAL part of this economy (as it conveys price information to the market about the largest single asset people own - THEIR HOMES) is occupied by nothing more than 100%, grade A, morons.
First they would whore themselves out to whoever would pay them the most to "deliver" the price the borrower or the bank needed for the deal to go through back during the bubble days.
Now they're just engaging in CYA.
So you're not dealing with brilliant people, you're just dealing with people who go where the money is.
Second, because of their stupidity the problem is that they're not doing their job and that is ACCURATELY APPRAISING PROPERTY. The problem this presents is that it stunts or at least mutes part of the "stimulus" plan in that while (presumably) all this TARP money and bailout money was to be used to help provide low interest rate loans so the masses could refinance at lower rates and thus improve their personal finances, it's never loaned out because why????
Oops! Sorry, your house appraisal came in too low. We can't refinance.
(Never mind that in some cases if the banks don't refinance they'll end up foreclosing and repossessing a house that is less than what is owed to them and it would be in their best interest to refinance, but, eh, banks are even more moronic than the appraisers)
Regardless, the whole point is that while people would like to refinance, they would like to save money, and we would like to get this economy back on the road again, the appraisers effectively prevent this with their insanely low appraisals.
Now I know why this is happening, for whilst my days as a credit analyst, part of my job was to audit these appraisals. And to understand why your house is "worth" only 50% of what it was before and why you were shot down for the loan and the bank is now going to repossess a presumably worthless property, you must understand the three appraisal techniques.
First there is the cost approach. This basically states the value of the home is the amount it costs to build it.
Then there is the income approach. This is like a "discounted cash flow" approach to valuing property. It theorizes if it was rented out what kind of value would those cash flows give the property.
Then there is the all important "sales comparison" approach. This takes sales of similar properties in similar areas and then applies similar prices to your property.
And that is the approach where the problem lies.
For you see, appraisers take RECENT sales. The problem this presents is that "What if you were in a bubble?" Or conversely, "What if you were in the worst housing market ever?" When housing, and the mortgages used to finance it, are presumably long term assets.
Understand the problem this presents when trying to value properties.
If you valued on property based on the sales approach 3 years ago, it would be overvalued.
If you valued it today (I'm getting the feeling) it would be undervalued due to the majority of sales being foreclosures.
But the bank has typically a 30 year mortgage on it, and you would plan to live in the home for more than 5 years.
This means the value of a home shouldn't be based on the current, minute to minute market fluctuations in home prices, but rather a long term rolling average.
But, of course, again, try to tell that to appraisers or explain that to banks. And you'll see why we have to bail out the banking industry and while the appraisal industry, vital as it may be to our entire financial system and economy, is nothing but a bunch of lemmings.
Monday, July 13, 2009
There's No Point in Folding Clothes
I have returned from a small vacation I took up north where there was
Grilling!
Fishing!
Cliff jumping into old mine pits!
Shooting guns
And other manly activities as well!
However, within our platoon of fearless vacationeers were none other than (dun dun dunnnn!!!!)
GIRLS!
Yes, females in our midst!
Originally we think they snuck onboard without our knowing as they were dressed kind of like us, wearing jeans and baseball caps and participated in our arm-pit farting contest that usually denotes the beginning of the vacation.
In any case, given all the activities we engaged in, it was only inevitable that we would have to do a load of laundry as we would dirty up our clothes mighty quick.
So I threw a load in the wash. Transferred it to the drier.
Hopped in the shower, and upon exiting the shower, there they were!
Women!
FOLDING MY CLOTHES!
Now I tried to rationalize with them about the fact that I was only going to put them back on again, thereby obsoleting the need to fold them in the first place.
But oh, no. They were adamant that the clothes be folded.
I pointed to the fact that I was standing in nothing but a towel and would be putting on the shirt that one of them had just folded, but oh no, they just kept on folding.
Now ladies, we men do appreciate everything you do for us. We know you do this because you love us. But there is no point in folding clothes in that they are only going to get wrinkled up again.
Making beds is the same thing.
There is NO earthly, godly or economic reason for making the bed.
You will just sleep in it again that same very night.
Thus, ladies, please permit us to make your lives easier.
Do no spend any time folding our dirty nasty clothes!
Opening a beer or pouring a martini is much less time consuming and much more appreciated!
Grilling!
Fishing!
Cliff jumping into old mine pits!
Shooting guns
And other manly activities as well!
However, within our platoon of fearless vacationeers were none other than (dun dun dunnnn!!!!)
GIRLS!
Yes, females in our midst!
Originally we think they snuck onboard without our knowing as they were dressed kind of like us, wearing jeans and baseball caps and participated in our arm-pit farting contest that usually denotes the beginning of the vacation.
In any case, given all the activities we engaged in, it was only inevitable that we would have to do a load of laundry as we would dirty up our clothes mighty quick.
So I threw a load in the wash. Transferred it to the drier.
Hopped in the shower, and upon exiting the shower, there they were!
Women!
FOLDING MY CLOTHES!
Now I tried to rationalize with them about the fact that I was only going to put them back on again, thereby obsoleting the need to fold them in the first place.
But oh, no. They were adamant that the clothes be folded.
I pointed to the fact that I was standing in nothing but a towel and would be putting on the shirt that one of them had just folded, but oh no, they just kept on folding.
Now ladies, we men do appreciate everything you do for us. We know you do this because you love us. But there is no point in folding clothes in that they are only going to get wrinkled up again.
Making beds is the same thing.
There is NO earthly, godly or economic reason for making the bed.
You will just sleep in it again that same very night.
Thus, ladies, please permit us to make your lives easier.
Do no spend any time folding our dirty nasty clothes!
Opening a beer or pouring a martini is much less time consuming and much more appreciated!
Saturday, July 11, 2009
Where Housing Prices are Going
People keep asking me "when are housing prices going to recover."
The answer is simply;
They won't.
Understand the economic problems the US is having today are IDENTICAL to those of Japan back in the 1989. Stock market bubble AND a housing bubble, followed by a crash and then MASSIVE government "stimulus" spending that only managed to get the economy to limp along at 0% growth rates.
ERgo you can expect US property prices to go where Japan property prices have gone.
Now I know how to fix this. I know how to get not only property prices back up, but stock prices back up as well as GDP. Alas, "capitalism" is out of favor and the idiotic masses who don't know a damn thing about economics ( but know the top three contestants on Teen Idol) have opted to go the socialist route. Thus, all Americans can enjoy their own "lost decade" just like the Japanese did.
The answer is simply;
They won't.
Understand the economic problems the US is having today are IDENTICAL to those of Japan back in the 1989. Stock market bubble AND a housing bubble, followed by a crash and then MASSIVE government "stimulus" spending that only managed to get the economy to limp along at 0% growth rates.
ERgo you can expect US property prices to go where Japan property prices have gone.
Now I know how to fix this. I know how to get not only property prices back up, but stock prices back up as well as GDP. Alas, "capitalism" is out of favor and the idiotic masses who don't know a damn thing about economics ( but know the top three contestants on Teen Idol) have opted to go the socialist route. Thus, all Americans can enjoy their own "lost decade" just like the Japanese did.
Friday, July 10, 2009
Thursday, July 09, 2009
The Captain Puts on a Public Seminar
I have a 6 week vacation scheduled. The reason I have a 6 week vacation scheduled is because Obama has made it economically irrational for me to work more, to make more, only to be taxed more, which in the end, frankly, means I shouldn't even bother working because I'm slaving away for people who deem it beneath them to slave away and just prefer to live off of schmucks like me. Ergo, I refuse to be the schmuck and good luck raising federal revenues while me and millions like me just refuse to work any more because it ain't freaking worth it.
Regardless, the vacation I will be taking will be in the Rapid City, SD area where I plan to hunt Californians and beat them down for the money they owe me for the bailout we're sure to give them...errr...I mean "I going fossil hunting."
In any case, before I take off I will be giving a seminar open to the public in the Twin Cities area. The title will be
"How to Defend Capitalism and Argue Against Socialism"
I've been asked by several people to put such a seminar given the wave of socialism winning over America and I will be delivering it before I take off for vacation. The time and location have yet to be set, but it will be before the 23rd because that's when I'm off to shoot Californians...errr...I mean "going fishing in South Dakota."
All are invited, including stalkers, impersonators, communists, socialists and varied psychopaths because not only myself, but pretty much all of my friends have carry and conceal permits and we'd love to have you.
I will post details upon finalizing a venue and a date, but in case anybody was interested in a seminar that pretty much succintly makes the arugment for capitalism and blows socialism out of the water (whilst shooting Californians...errr...I mean "hiking in the Black Hills"), all with the lovable personality, character and color of your beloved Captain, feel free to show up.
Regardless, the vacation I will be taking will be in the Rapid City, SD area where I plan to hunt Californians and beat them down for the money they owe me for the bailout we're sure to give them...errr...I mean "I going fossil hunting."
In any case, before I take off I will be giving a seminar open to the public in the Twin Cities area. The title will be
"How to Defend Capitalism and Argue Against Socialism"
I've been asked by several people to put such a seminar given the wave of socialism winning over America and I will be delivering it before I take off for vacation. The time and location have yet to be set, but it will be before the 23rd because that's when I'm off to shoot Californians...errr...I mean "going fishing in South Dakota."
All are invited, including stalkers, impersonators, communists, socialists and varied psychopaths because not only myself, but pretty much all of my friends have carry and conceal permits and we'd love to have you.
I will post details upon finalizing a venue and a date, but in case anybody was interested in a seminar that pretty much succintly makes the arugment for capitalism and blows socialism out of the water (whilst shooting Californians...errr...I mean "hiking in the Black Hills"), all with the lovable personality, character and color of your beloved Captain, feel free to show up.
Finally Getting Their Heads Out of Their Asses
I don't know if it was the youth who were all in love with his pretty, nice words who all of the sudden realized "holy crap, he just made me a slave to US debt"
or the 30-50 somethings who are being starkly reminded of what the Volcker Recession was like and just how much recessions suck;
Honeymoon's over you effing moron.
or the 30-50 somethings who are being starkly reminded of what the Volcker Recession was like and just how much recessions suck;
Honeymoon's over you effing moron.
Wednesday, July 08, 2009
Education v2.0
My classic 1990 Chevy Donk was practically spewing coolant.
I know very little about cars and bar something that is obvious AND within the fixability of the limited amount of tools I have, I usually have a mechanic friend of mine fix my car. However my mechanic friend is actually quite busy and quite successful, and this seemed to be something simple like a thermostat and so instead of waste his time, I contacted a friend's younger brother who is enrolled at the Dunwoody Institute for auto mechanics.
Dave stopped by, took two looks at it, BOOM, had it fixed for $20 in parts and $20 in labor, and the donk lives to drive another day.
But what Dave reminded me of, in his very quick and cheap fix of my car, is how the US education system today is broken to the point of obsolesence.
Dave, did a very very naughty thing according to conventional educational wisdom;
He went to a tech school.
There he learned a trade that everybody needs, but did not get a bachelors and will therefore not be able to become a failed quant over at Goldmans Sachs where he will make $250,000 to run the company into the ground. Tisk tisk tisk.
Stupid Dave.
But how stupid is Dave, really?
Currently Dave is employed and I (with my top ranked degree) am not.
Dave is also immensely more employable than I am in that financial services are laying people off, while industries that repair things cheaper than buying them new are booming.
And whereas everybody could use economic wisdom and advice, they're not willing to pay for it unless you have a nice suit and work for one of those bankrupt companies. EVERYBODY is willing to pay for a good, but cheap mechanic, especially if their car breaks down.
The only thing one can deduce from Dave's versus my education, is that Dave got a better one.
Now this is the primary problem with the US education system. It is NOT about preparing youth for the real world by arming them with employable skills. It's now about two things;
1. Generating money for those who work in the education industry
2. Brainwashing youth for political purposes, namely to vote in the future in the best interests of the education industry.
Or sure, they put it under the guise of "intellectual enlightenment." That education isn't all about just making more money (scoff scoff). Hoity toity academics claiming education somehow has a higher purpose than just training the masses to produce. But in the end, sorry boys and girls, reality wins and the reality is that education SHOULD be to train the masses with employable skills so they might have better lives in the future. And here is where the education institution fails miserably and makes itself progressively obsolete and unneeded.
First off look at most conventional colleges and what is required to get a simple bachelors degree. I don't know about you, but LESS THAN HALF the classes I took in college had anything to do with my degree. Accounting, Finance, and Economics classes were dwarfed by the amount of philosophy, theater, english, psychology, "pre-requisite" crap I had to take in order to get a "well rounded" education.
Let us not fool ourselves. This has nothing to do with making you "well rounded." It's to employ all the other idiots that majored in philosophy, pscyhology, foreign languages, etc. as TA's because the harsh reality (there's that word again) is that outside academia, THERE ARE NO JOBS FOR PHILOSOPHY MAJORS. To graduate from the U of MN's liberal arts college YOU HAVE TO TAKE TWO YEARS OF A FOREIGN LANGUAGE. WHY? You'll never use it. But hey, you employed several TA's for two years. Good for you. It's the test of whether a degree or study is worthwhile or not. If the only thing you can do with the degree is reteach it to future students, then the degree is worthless. If it has a practical application outside college, then it's worthwhile. Right now I'd say about 65% of the degrees being issued are worthless.
This is the second point about education becoming obsolete. It is no longer an education. It is a hobby for spoiled children. Brainwashed and told they MUST go to college (but without any explanation WHY they should go) kids pick degrees that reflect faux intellectual hobbies and approach NOTHING that is a true education.
POLITICAL SCIENCE?
Are you kidding me? Just listen to talk radio or watch the news.
WOMEN'S STUDIES?
Can't you just read the books they'd force you to read in college AND save on the tuition AND have the same employment prospects?
It's one thing to practically extort money from the student body to make all of them take 2 year's worth of this garbage, but to allow poor students to waste their time and money earning a full degree in these things is criminal.
This brings up a third point; the value of the degree.
I lament just how much more I could have learned had I been allowed to take more finance and economics classes instead of being forced to take HR or "marketing" or "logic." I theorize most engineering and computer science majors resented having to take worthless liberal arts courses. Imagine instead of 2 years of garbage and then 2 years of practical study, if all 4 years were dedicated and focused on ONE study. The amount one would learn would certainly be near double and the quality and caliber of your graduates would be vastly improved.
But no, now you have a computer engineer who is marginal, but hey, he knows the difference between Behavioral and Cognative theories in psychology. Instead of having specialized, employable labor (like Dave) we now have diluted, bland and non-refined labor entering the labor market.
Then there is a fourth point; grad school.
"Hey, that hobby not working out for you? Go to grad school." And invariably "grad school" means law school because law school takes those with worthless degrees and turns them into money grubbing lawyers. Great, just what this country needs. However, it's not just law school, but the grad school system of the liberal arts.
A reader in a previous post of mine made a great point in that if you look at it from the university's perspective why would they want to offer grad programs in engineering, computers, the sciences, biology, etc. The equipment and gear for labs and so forth is very expensive. But there is practically not capital outlay or expense if you want to set up a law school. There is no fix assets that need be purchased if you set up a "graduate program in education." And is there a degree more worthless than the MBA (passing the CPA test will earn you more). If these idiotic kids want to blow another $40,000 on an additional 2 years of a hobby...errr....um.... "education" let's make it possible for them. Meanwhile we can hire those washed up lawyers and sociology majors to become professors and TA's! Boom! A windfall of revenue for the U.
Now, as education starts to drift further and further away from its original purpose of educating the masses and instead starts to become a money making operation that poses as an educational system, it becomes obsolete. People will not expend their time and energy going to get "educated" when there is no financial return for it in the end. However, whereas in the past it seemed the masses didn't care if they were getting a good education or not, and pursued college more and more as a hobby, I do believe this "education bubble" is about to burst. The primary reason being that the factors causing the bubble are rapidly deteriorating.
1. To be able to afford majoring in a "hobby" you needed parents of a certain economic wealth to still take care of you when you graduate at 24 with your bachelors in anthropology. However, Mommy and Daddy aren't as rich as they used to be. Matter of fact, they weren't all that rich to begin with. And whereas daddy's 401k was $300,000, now it's only worth $125,000. And mommy just got laid off at Piper Jaffray, looks like they won't be able to "cash in" on that home equity line, because, well, heh heh, sorry junior, there's no equity left. They used that to buy the Lincoln Navigator and your trip to Europe.
2. The economy is collapsing so hard and crushing so many people that prospective students who would have normally relied on mom and dad to pay for it, find out their primary source of financing is gone. THEY have to pay for it. This crushing financial burden makes students realize REAL quick the value of money and if they started as a philosophy major, they'll quickly change their tune when dad can't cut the checks.
3. Youth will be affected by the harsh economic realities, not just psychologically, but financially. A 16 year old kid who just saw his parents get foreclosed on isn't only going to be thinking "gee, maybe I should switch from art to chemical engineering." He's going to be thinking, "Maybe I should just go to Votech and become a plumber so at least there's food on the table. I can't afford 4 years of school, the first 2 of which are nothing but BS anyway."
In otherwords, the economy will deteriorate so much that families and children will no longer be able to afford going to college like you would "go to Cancun." Education will once again take on the mantle of being a means by which to earn more money and with financial resources dwindling, demand for the "hobby degree" will dry up and demand for vocational programs will increase. The current educational system as we know it will collapse and instead of droves of poetry majors engaging in poetry "slams" or "peace studies" majors throwing down some mean candle light vigils perhaps maybe some of them can do something useful like fix my effing car or install some additional RAM in my computer.
I know very little about cars and bar something that is obvious AND within the fixability of the limited amount of tools I have, I usually have a mechanic friend of mine fix my car. However my mechanic friend is actually quite busy and quite successful, and this seemed to be something simple like a thermostat and so instead of waste his time, I contacted a friend's younger brother who is enrolled at the Dunwoody Institute for auto mechanics.
Dave stopped by, took two looks at it, BOOM, had it fixed for $20 in parts and $20 in labor, and the donk lives to drive another day.
But what Dave reminded me of, in his very quick and cheap fix of my car, is how the US education system today is broken to the point of obsolesence.
Dave, did a very very naughty thing according to conventional educational wisdom;
He went to a tech school.
There he learned a trade that everybody needs, but did not get a bachelors and will therefore not be able to become a failed quant over at Goldmans Sachs where he will make $250,000 to run the company into the ground. Tisk tisk tisk.
Stupid Dave.
But how stupid is Dave, really?
Currently Dave is employed and I (with my top ranked degree) am not.
Dave is also immensely more employable than I am in that financial services are laying people off, while industries that repair things cheaper than buying them new are booming.
And whereas everybody could use economic wisdom and advice, they're not willing to pay for it unless you have a nice suit and work for one of those bankrupt companies. EVERYBODY is willing to pay for a good, but cheap mechanic, especially if their car breaks down.
The only thing one can deduce from Dave's versus my education, is that Dave got a better one.
Now this is the primary problem with the US education system. It is NOT about preparing youth for the real world by arming them with employable skills. It's now about two things;
1. Generating money for those who work in the education industry
2. Brainwashing youth for political purposes, namely to vote in the future in the best interests of the education industry.
Or sure, they put it under the guise of "intellectual enlightenment." That education isn't all about just making more money (scoff scoff). Hoity toity academics claiming education somehow has a higher purpose than just training the masses to produce. But in the end, sorry boys and girls, reality wins and the reality is that education SHOULD be to train the masses with employable skills so they might have better lives in the future. And here is where the education institution fails miserably and makes itself progressively obsolete and unneeded.
First off look at most conventional colleges and what is required to get a simple bachelors degree. I don't know about you, but LESS THAN HALF the classes I took in college had anything to do with my degree. Accounting, Finance, and Economics classes were dwarfed by the amount of philosophy, theater, english, psychology, "pre-requisite" crap I had to take in order to get a "well rounded" education.
Let us not fool ourselves. This has nothing to do with making you "well rounded." It's to employ all the other idiots that majored in philosophy, pscyhology, foreign languages, etc. as TA's because the harsh reality (there's that word again) is that outside academia, THERE ARE NO JOBS FOR PHILOSOPHY MAJORS. To graduate from the U of MN's liberal arts college YOU HAVE TO TAKE TWO YEARS OF A FOREIGN LANGUAGE. WHY? You'll never use it. But hey, you employed several TA's for two years. Good for you. It's the test of whether a degree or study is worthwhile or not. If the only thing you can do with the degree is reteach it to future students, then the degree is worthless. If it has a practical application outside college, then it's worthwhile. Right now I'd say about 65% of the degrees being issued are worthless.
This is the second point about education becoming obsolete. It is no longer an education. It is a hobby for spoiled children. Brainwashed and told they MUST go to college (but without any explanation WHY they should go) kids pick degrees that reflect faux intellectual hobbies and approach NOTHING that is a true education.
POLITICAL SCIENCE?
Are you kidding me? Just listen to talk radio or watch the news.
WOMEN'S STUDIES?
Can't you just read the books they'd force you to read in college AND save on the tuition AND have the same employment prospects?
It's one thing to practically extort money from the student body to make all of them take 2 year's worth of this garbage, but to allow poor students to waste their time and money earning a full degree in these things is criminal.
This brings up a third point; the value of the degree.
I lament just how much more I could have learned had I been allowed to take more finance and economics classes instead of being forced to take HR or "marketing" or "logic." I theorize most engineering and computer science majors resented having to take worthless liberal arts courses. Imagine instead of 2 years of garbage and then 2 years of practical study, if all 4 years were dedicated and focused on ONE study. The amount one would learn would certainly be near double and the quality and caliber of your graduates would be vastly improved.
But no, now you have a computer engineer who is marginal, but hey, he knows the difference between Behavioral and Cognative theories in psychology. Instead of having specialized, employable labor (like Dave) we now have diluted, bland and non-refined labor entering the labor market.
Then there is a fourth point; grad school.
"Hey, that hobby not working out for you? Go to grad school." And invariably "grad school" means law school because law school takes those with worthless degrees and turns them into money grubbing lawyers. Great, just what this country needs. However, it's not just law school, but the grad school system of the liberal arts.
A reader in a previous post of mine made a great point in that if you look at it from the university's perspective why would they want to offer grad programs in engineering, computers, the sciences, biology, etc. The equipment and gear for labs and so forth is very expensive. But there is practically not capital outlay or expense if you want to set up a law school. There is no fix assets that need be purchased if you set up a "graduate program in education." And is there a degree more worthless than the MBA (passing the CPA test will earn you more). If these idiotic kids want to blow another $40,000 on an additional 2 years of a hobby...errr....um.... "education" let's make it possible for them. Meanwhile we can hire those washed up lawyers and sociology majors to become professors and TA's! Boom! A windfall of revenue for the U.
Now, as education starts to drift further and further away from its original purpose of educating the masses and instead starts to become a money making operation that poses as an educational system, it becomes obsolete. People will not expend their time and energy going to get "educated" when there is no financial return for it in the end. However, whereas in the past it seemed the masses didn't care if they were getting a good education or not, and pursued college more and more as a hobby, I do believe this "education bubble" is about to burst. The primary reason being that the factors causing the bubble are rapidly deteriorating.
1. To be able to afford majoring in a "hobby" you needed parents of a certain economic wealth to still take care of you when you graduate at 24 with your bachelors in anthropology. However, Mommy and Daddy aren't as rich as they used to be. Matter of fact, they weren't all that rich to begin with. And whereas daddy's 401k was $300,000, now it's only worth $125,000. And mommy just got laid off at Piper Jaffray, looks like they won't be able to "cash in" on that home equity line, because, well, heh heh, sorry junior, there's no equity left. They used that to buy the Lincoln Navigator and your trip to Europe.
2. The economy is collapsing so hard and crushing so many people that prospective students who would have normally relied on mom and dad to pay for it, find out their primary source of financing is gone. THEY have to pay for it. This crushing financial burden makes students realize REAL quick the value of money and if they started as a philosophy major, they'll quickly change their tune when dad can't cut the checks.
3. Youth will be affected by the harsh economic realities, not just psychologically, but financially. A 16 year old kid who just saw his parents get foreclosed on isn't only going to be thinking "gee, maybe I should switch from art to chemical engineering." He's going to be thinking, "Maybe I should just go to Votech and become a plumber so at least there's food on the table. I can't afford 4 years of school, the first 2 of which are nothing but BS anyway."
In otherwords, the economy will deteriorate so much that families and children will no longer be able to afford going to college like you would "go to Cancun." Education will once again take on the mantle of being a means by which to earn more money and with financial resources dwindling, demand for the "hobby degree" will dry up and demand for vocational programs will increase. The current educational system as we know it will collapse and instead of droves of poetry majors engaging in poetry "slams" or "peace studies" majors throwing down some mean candle light vigils perhaps maybe some of them can do something useful like fix my effing car or install some additional RAM in my computer.
Tuesday, July 07, 2009
Salute the Major
Despite the conversation we're having about the merits of medals, we should all salute the major for his service. Here are his medals;
Pay him a visit sometime.
Pay him a visit sometime.
Ignorant, Servile Scum
I made a post not too long ago about the idiocy of the masses and how some people should just not have the right to vote. And for those regular readers, you know my complete disdain for spoiled suburbanite type kids who major in worthless subjects, yet somehow think they are wise enough to lead the world at the age of 20 while they still rely on daddy to pay for their tuition, rent, food, clothing and shelter.
From Maggies Farm:
This is why I drink.
These morons are the epitome of Webster's speech, "Ignorant, Servile Scum"
From Maggies Farm:
This is why I drink.
These morons are the epitome of Webster's speech, "Ignorant, Servile Scum"
Downfall Parody - Obama
Another Downfall parody. Ah, Downfall, the movie just keeps giving and giving.
BIG LANGUAGE WARNING, this is actually quite crass, they could have done a bit better without some of the sicker commentary;
BIG LANGUAGE WARNING, this is actually quite crass, they could have done a bit better without some of the sicker commentary;
High Net Worth Individuals
I live in arguably the crappiest house in the one of the richest towns of Minnesota. Desperate to escape the city, the crime, and the unexplainable property taxes, not to mention the leftist culture (which if you know Seward, you know precisely what I'm talking about), I escaped the city and found a cheap place in a suburb far, far away.
However, though I am not rich by any means, nor am I part of the culture, I reside in an area where Mercedes are standard, Lotuses are common, and the cops have on more than one occasion immediately turned around and tailed my donk (1990 Chevy) late at night until they realized I lived here. This has given me an unexpected perspective and insight into the world of the "rich." Combine that with the fact I've worked for several local banks and I've seen the financial statements of a fair amount of these "rich" people and I have a pretty good grasp of what is going on.
For the most part, "rich" people are not "rich."
They borrow money.
Invest it in assets of varying levels of legitimacy, a disproportionate percent of which are dubious.
List inflated values on their personal balance sheets when looking to borrow more.
And brag either in words (by talking up dumb bimbos at bars) or in toys (by buying cars they can't afford with other people's money).
Out of all the "rich" people here, I would have to say only 15% of them are legitimately rich, with positive net worths. Take out trust fund babies and you can knock off about another 5-10%.
Regardless, it calls into question those that are really "rich" in this world.
How many of them ever made money in the first place? How many had positive cash flows in their global operations? How many of them have assets that are worth anything in the first place? And with a nearly 25% drop in "high net worth individuals" it tells you that "wealth" in this world is not based off of income, or cash flow, or profits, but rather asset prices, which is basically worthless paper gains.
However, though I am not rich by any means, nor am I part of the culture, I reside in an area where Mercedes are standard, Lotuses are common, and the cops have on more than one occasion immediately turned around and tailed my donk (1990 Chevy) late at night until they realized I lived here. This has given me an unexpected perspective and insight into the world of the "rich." Combine that with the fact I've worked for several local banks and I've seen the financial statements of a fair amount of these "rich" people and I have a pretty good grasp of what is going on.
For the most part, "rich" people are not "rich."
They borrow money.
Invest it in assets of varying levels of legitimacy, a disproportionate percent of which are dubious.
List inflated values on their personal balance sheets when looking to borrow more.
And brag either in words (by talking up dumb bimbos at bars) or in toys (by buying cars they can't afford with other people's money).
Out of all the "rich" people here, I would have to say only 15% of them are legitimately rich, with positive net worths. Take out trust fund babies and you can knock off about another 5-10%.
Regardless, it calls into question those that are really "rich" in this world.
How many of them ever made money in the first place? How many had positive cash flows in their global operations? How many of them have assets that are worth anything in the first place? And with a nearly 25% drop in "high net worth individuals" it tells you that "wealth" in this world is not based off of income, or cash flow, or profits, but rather asset prices, which is basically worthless paper gains.
Monday, July 06, 2009
Dennis Prager's Happiness Hour
When I had my radio show, I thought that I (naturally) had the best taste in bumper music. I played some Cowboy Bebop themes, Frank Sinatra, Duke Ellington, etc., but I will have to admit that Dennis Prager has a much more interesting and unique choice of music than I. Besides which, for your standard Monday Morning Recession Medicine, I can think of nothing better than the theme to Dennis' "Happiness Hour"
WARNING - The tune is catchy and will stick in your head all day...but perhaps that is a good thing;
WARNING - The tune is catchy and will stick in your head all day...but perhaps that is a good thing;
Sunday, July 05, 2009
Waterstone Apartments: A Microcosm of Fascism
An acquaintance of mine lives in an apartment complex called "Waterstone."
Littered across the hallways and elevators are little "notices/updates" that provide me with the perfect documentation of the evolution of fascism on a microcosmic scale. Understand this complex is under a management team, that as far as I can tell consists of nothing but idealistic 20/30 somethings, predominantly female, who have swallowed whole all the leftist BS and tripe that has come down the pipe.
I originally intended to post these as they came, but I got lazy. However, upon my latest mission (dun dun dunnnnn)
OPERATION CLEAN OUT ALL THE CRAP IN YOUR HOUSE
I've rediscovered some of these notices and I've decided to start scanning in and posting all these notices the Waterstone "family" has made in an effort to document yet another small segment of society that has frankly gone batsh!t insane and succumbed to believing the crap they were indoctrinated in back in college and high school as they form their own little Third Reich.
Enjoy. For the benefit of the readers I have made some of my own commentary as well as highlighted things that will make your eyes roll or which would also prompt Joe Soucheray to say "B as in B, S as in S."
Littered across the hallways and elevators are little "notices/updates" that provide me with the perfect documentation of the evolution of fascism on a microcosmic scale. Understand this complex is under a management team, that as far as I can tell consists of nothing but idealistic 20/30 somethings, predominantly female, who have swallowed whole all the leftist BS and tripe that has come down the pipe.
I originally intended to post these as they came, but I got lazy. However, upon my latest mission (dun dun dunnnnn)
OPERATION CLEAN OUT ALL THE CRAP IN YOUR HOUSE
I've rediscovered some of these notices and I've decided to start scanning in and posting all these notices the Waterstone "family" has made in an effort to document yet another small segment of society that has frankly gone batsh!t insane and succumbed to believing the crap they were indoctrinated in back in college and high school as they form their own little Third Reich.
Enjoy. For the benefit of the readers I have made some of my own commentary as well as highlighted things that will make your eyes roll or which would also prompt Joe Soucheray to say "B as in B, S as in S."
Hmmm...How 'Bout That?
The banks that were most profitable in 2008 were (primarily) Chinese.
Imagine that.
Imagine that.
Friday, July 03, 2009
Outcome Based Military
I kind of feel ashamed that the US military, which I view as one of the most holy institutions in the history of the world, is guilty of this:
I don't think we're quite North Korea yet with our "wiped my own ass" medal or "breathing continually for 10 years" medal, but still the reflections are a bit concerning:
I don't think we're quite North Korea yet with our "wiped my own ass" medal or "breathing continually for 10 years" medal, but still the reflections are a bit concerning:
Thursday, July 02, 2009
Ah, If Only It Were "Liberal Season"
You need to prune the population. It's good for them you know. Otherwise they overpopulate.
How's That Hope and Change Working For Ya?
WARNING - THIS POST HAS ADULT LANGUAGE
I have changed my mind.
I used to be of the opinion that those who voted for Obama consisted of such brainwashed American Idol watchers that no amount of economic chaos and collapse would convince them. That, like their 1930's socialism-loving ilk, they would follow Obama deeper and deeper into a depression, just like they did their ordained saint, FDR, as he waxes wooingly telling the idiotic masses nothing concrete or actionable, but rather bland pleasantries, overabusing soft sounding adjectives to explain (or actually avoid explaining) how we were going to get out of this economic mess.
But now with unemployment hitting a record high, I actually believe the day of reconing where the economy gets so bad it starts to really cause pain and harm to the masses to the point they actually shed their intellectual laziness and start to question whether Obama's pecks and Michelle's arms are really going to get us out of the recession.
Ergo, I am changing my stance and now believe Obama will be a one termer and the Republicans will make gains in 2010.
However, there is something more important to do than just change my belief Obama will lose, because if we dont' take a lesson from this, we will not improve as a nation, and that is mock and ridicule you idiots who voted this bonafide socialist in because frankly, you are so uneducated about history and economics that you obviously do not appreciate democracy and therefore have shed your all important responsibility of being a steward of it and therefore really do not deserve the right to vote.
I don't know if you have seen Band of Brothers, but there's a scene in the movie where Webster (one of the soldiers) kind of loses it and just starts yelling at the top of his lungs at a bunch of captured German soldiers:
And truthfully I feel the exact same way.
We had, HAD the greatest nation on the planet.
We had a culture where work and self-reliance and the individual and freedom were not only sacrosanct, but the foundation of this country.
Our forefathers were arguably the greatest people in the history of the world and gave us this great country that achieved unimaginable wealth and prosperity on one simple damn principle;
Freedom.
And what did we do?
We got so lazy, so spoiled and so fat off the proceeds that we started taking for granted not only this great country, but the great freedoms granted to us. Worse still more and more of us started making money or a living off of villianizing and criminalizing this great country or piting one group of people against the other. Some becoming pscyhotic enough to instill the inane economy-destroying religion of global warming, while having no qualms about profiting from it. Through nothing short of brainwashing and masses, re-writing history, and stooping so low as to brainwash the children, now we all march towards socialism just like the Germans not only completely forgetting how we achieved such wealth in the first place, but completely IGNORING the BLATANT realities of where socialism leads; North Korea, the former Soviet Union, Cuba, Venezuela and California.
Now I used to try to argue, even since I was a late teenager, about the drawbacks of socialism and the merits of capitalism. But it was an uphill battle, and as it turns out, an impossible one. The reason why was my peers were too damn ignorant, too damn uneducated, too damn un-or-misinformed. But above all else they were brainwashed. And no matter how right I could have been, no matter how many charts, data, statistics, correlations or just plain damn facts, no, they wanted socialism because of inane arguments such as;
"Well I just FEEL that the democrats are for the little people."
"I just FEEL the rich don't pay their fair share."
"I just FEEL we should all have health insurance."
Without knowing a damn thing.
Alas, I feel lot like Webster. After literally 15 years of trying to convince people about the costs of socialism and the potentials of capitalism to no avail, I have no option but to stand on top of a truck as we all suffer a new Great Depression asking the ignorant masses one simple question:
"For what!? You ignorant servile scum! What the fuck are we doing here!!!!!???"
What else can I do? We SHOULDN'T be here. We KNOW economics well enough and HISTORY well enough to KNOW how to get out of it. Yet, I still feel like Michael Savage yelling into the wind as the sheople blindlessly follow a leader who has better American Idol skills than anything approaching leadership, experience and intelligence. Only crippling poverty will bring them around, I'm just angry I have to suffer along with the masses.
I have changed my mind.
I used to be of the opinion that those who voted for Obama consisted of such brainwashed American Idol watchers that no amount of economic chaos and collapse would convince them. That, like their 1930's socialism-loving ilk, they would follow Obama deeper and deeper into a depression, just like they did their ordained saint, FDR, as he waxes wooingly telling the idiotic masses nothing concrete or actionable, but rather bland pleasantries, overabusing soft sounding adjectives to explain (or actually avoid explaining) how we were going to get out of this economic mess.
But now with unemployment hitting a record high, I actually believe the day of reconing where the economy gets so bad it starts to really cause pain and harm to the masses to the point they actually shed their intellectual laziness and start to question whether Obama's pecks and Michelle's arms are really going to get us out of the recession.
Ergo, I am changing my stance and now believe Obama will be a one termer and the Republicans will make gains in 2010.
However, there is something more important to do than just change my belief Obama will lose, because if we dont' take a lesson from this, we will not improve as a nation, and that is mock and ridicule you idiots who voted this bonafide socialist in because frankly, you are so uneducated about history and economics that you obviously do not appreciate democracy and therefore have shed your all important responsibility of being a steward of it and therefore really do not deserve the right to vote.
I don't know if you have seen Band of Brothers, but there's a scene in the movie where Webster (one of the soldiers) kind of loses it and just starts yelling at the top of his lungs at a bunch of captured German soldiers:
And truthfully I feel the exact same way.
We had, HAD the greatest nation on the planet.
We had a culture where work and self-reliance and the individual and freedom were not only sacrosanct, but the foundation of this country.
Our forefathers were arguably the greatest people in the history of the world and gave us this great country that achieved unimaginable wealth and prosperity on one simple damn principle;
Freedom.
And what did we do?
We got so lazy, so spoiled and so fat off the proceeds that we started taking for granted not only this great country, but the great freedoms granted to us. Worse still more and more of us started making money or a living off of villianizing and criminalizing this great country or piting one group of people against the other. Some becoming pscyhotic enough to instill the inane economy-destroying religion of global warming, while having no qualms about profiting from it. Through nothing short of brainwashing and masses, re-writing history, and stooping so low as to brainwash the children, now we all march towards socialism just like the Germans not only completely forgetting how we achieved such wealth in the first place, but completely IGNORING the BLATANT realities of where socialism leads; North Korea, the former Soviet Union, Cuba, Venezuela and California.
Now I used to try to argue, even since I was a late teenager, about the drawbacks of socialism and the merits of capitalism. But it was an uphill battle, and as it turns out, an impossible one. The reason why was my peers were too damn ignorant, too damn uneducated, too damn un-or-misinformed. But above all else they were brainwashed. And no matter how right I could have been, no matter how many charts, data, statistics, correlations or just plain damn facts, no, they wanted socialism because of inane arguments such as;
"Well I just FEEL that the democrats are for the little people."
"I just FEEL the rich don't pay their fair share."
"I just FEEL we should all have health insurance."
Without knowing a damn thing.
Alas, I feel lot like Webster. After literally 15 years of trying to convince people about the costs of socialism and the potentials of capitalism to no avail, I have no option but to stand on top of a truck as we all suffer a new Great Depression asking the ignorant masses one simple question:
"For what!? You ignorant servile scum! What the fuck are we doing here!!!!!???"
What else can I do? We SHOULDN'T be here. We KNOW economics well enough and HISTORY well enough to KNOW how to get out of it. Yet, I still feel like Michael Savage yelling into the wind as the sheople blindlessly follow a leader who has better American Idol skills than anything approaching leadership, experience and intelligence. Only crippling poverty will bring them around, I'm just angry I have to suffer along with the masses.
Wednesday, July 01, 2009
It's Called "Capital Flight"
Today's term boys and girls is called
"Capital flight."
It's when people move their money out of a country because that country's tax rate, regulatory environment or government has become too hostile or impossible to do business in.
It's already happening, well, because Obama is in the truest and literal sense an economic dumbass and thinks people are just going to stay here and take it.
If you need to explain why corporate tax rates are bad to a leftist and if there is a SOLE SINGLE REASON the socialist's economic plan will NOT resurrect the economy, this is it.
"Capital flight."
It's when people move their money out of a country because that country's tax rate, regulatory environment or government has become too hostile or impossible to do business in.
It's already happening, well, because Obama is in the truest and literal sense an economic dumbass and thinks people are just going to stay here and take it.
If you need to explain why corporate tax rates are bad to a leftist and if there is a SOLE SINGLE REASON the socialist's economic plan will NOT resurrect the economy, this is it.
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