Bigger dollar crash predicted in 2008 – updated

RHINEBECK, N.Y., Nov. 19 (UPI) — A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

“We are going to see economic times the likes of which no living person has seen,” Trends Research Institute Director Gerald Celente said, forecasting a “Panic of 2008.”

“The bigger they are, the harder they’ll fall,” he said in an interview with New York’s Hudson Valley Business Journal.

Celente — who forecast the subprime mortgage financial crisis and the dollar’s decline a year ago and gold’s current rise in May — told the newspaper the subprime mortgage meltdown was just the first “small, high-risk segment of the market” to collapse.

From UPI.

But from Kathy Lien, chief currency strategist at Daily Forex, some caution:

“Even though the US dollar fell to a new record low against the Euro overnight, the Euro failed to hold onto those gains. The currency pair’s struggle to sustain its upside momentum over the past three trading days has everyone wondering whether this is the top. Unlike the US, there are fundamental reasons behind today’s intraday reversal. For the most part European economic data was weak. Manufacturing PMI accelerated but service sector PMI deteriorated and French consumer spending fell by the biggest amount in over a year. ECB President Trichet also said that he is opposed to brutal currency moves while Airbus is complaining loudly about the damage of a weaker dollar. It is important to point out that Trichet did not call the latest move in the Euro brutal, but simply indicated his discontent with volatility in the currency markets in general. The pressure is heating up for the central bank president to do something about the currency but his reluctance to do so reflects what must be very strong inflationary pressures.”

And Sebastian Malloy at the Washington Post references that futuristic digital currency of Ben Steil’s I blogged a while back.

Update: Meanwhile, Goldman Sachs predicts the dollar will stage a come back in 2008. This is likely to be so for the short or midterm — but its likely to be go back down after that….the fundamentals argue for more decline…

The Oxbow Incident: the law is more than words

oxbow“A man just naturally can’t take the law into his own hands and hang people without hurtin’ everybody in the world, ’cause then he’s just not breaking one law but all laws. Law is a lot more than words you put in a book, or judges or lawyers or sheriffs you hire to carry it out. It’s everything people ever have found out about justice and what’s right and wrong. It’s the very conscience of humanity. There can’t be any such thing as civilization unless people have a conscience, because if people touch God anywhere, where is it except through their conscience? And what is anybody’s conscience except a little piece of the conscience of all men that ever lived?”

From the Oxbow Incident (1943).

The Oxbow Incident was based on a 1940 Western by Walter Van Tilburg Clark, and starred Henry Fonda and Anthony Quinn, among others. It tells the story of a posse that goes after suspected cattle rustlers in the Oxbow Valley in Nevada in 1885. The rustlers are also presumed to have killed a popular rancher. When the posse happens on three suspicious-looking men, it ignores its own qualms and the protests of the local judge and proceeds to hang them. On going back home, the vigilantes are overwhelmed with guilt to find the rancher alive.

A 75 minute classic that was one of Orson Welles’ favorites and the only Western he considered making, the film won an Academy Award in 1998 but performed poorly at the box-office. Although it was intended as a defense of war-time American values, audiences disliked the implicit connection it drew between Nazi mob rule and the Old West. It seemed to say that America might not be immune in the future to eruptions of cowboy justice and that even people who are mostly law-abiding in their daily lives can commit murder, while convincing themselves they’ve had a “reasonable accusation, fair trial, and just execution.”

Silence of the MSM: Ron P versus Ben B

Filed under Stories My Mother Never Told Me.

Ron Paul faces off with Ben Bernanke on the Federal Reserve fraud (yes, you didn’t read that much in the press, did you? How would you, when the same crew that owns the government owns the media).

paul bernanke“Paul countered that by putting more money on the market, Bernanke and the Federal Reserve are devaluing the dollar and robbing from Americans.

“There’s a dollar crisis out there and people’s money is being stolen; people who have saved, they’re being robbed. I mean, if you have a devaluation of the dollar at 10 percent, people have been robbed at 10 percent. But how can you pursue this policy without addressing the subject that somebody’s losing their wealth because of a weaker dollar? And it’s going to lead to higher interest rates and a weaker economy.”

Bernanke argued that since Americans use dollars to buy their goods here in America, a devalued dollar will make imported goods more expensive.

Paul shot back, rounding out his five minutes of questions, “Yes, but not if you’re retired and elderly and you have CDs and their cost of living is going up no matter what your CPI says. Their cost of living is going up and they are hurting.”

It was an interesting exercise in theory, but Paul, even if he were to be elected president, probably would not have the votes in Congress to revamp the financial system, much less abolish the Fed.”

A reason perhaps why none of this made wire or newspaper accounts of the hearing, all of which focused on Bernanke’s contention that despite an intensifying slump in the housing market, slower than expected growth and higher inflation, he does not believe the country is headed for a recession and tried to divine where Bernanke’s testimony signaled another interest rate cut.”

Read the rest at ABC.

Paul campaign predicts raising more than $12 million goal for Qtr 4

Nov. 23 (Bloomberg) — Presidential candidate Ron Paul said he has raised more than $9 million in the past two months and he predicted his campaign will exceed its $12 million fourth-quarter goal.

“It looks like we can’t stay under it,” Paul, a long-shot candidate for the Republican nomination, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” scheduled to air today. Paul said organizers expect a Dec. 16 fundraising blitz to bring in more than the $4.2 million a similar event raised on Nov. 5, an “astounding” amount.

More here.

Dollar devaluation? Whom does it hurt?

Interesting post here about dollar devaluation in a blog discussion.

Unlike Cavuto on FOX, the blogger thinks the dollar won’t bounce in the near term.

“I am not so sure about the overvaluation of the dollar.
I live in Denmark, and our valuta the DKR is pegged to the Euro.

I made a little survey for about 6 weeks comparing supermarket prices in Denmark and in the USA.
If you remove sales taxes and VAT, the real value of the dollar in a supermarket is about 56-60 eurocents. Today the exchange rate is about 68 eurocents to a dollar.

If you look at IKEA which is both in Europe and the USA and make the same comparation, IKEA values 1 dollar to 52 eurocents.

I think the dollar is going through a “controlled” gliding devaluation, and I think the goal is 1 dollar to 60 eurocents.

The FED and the ECB has a common interest in the project.

The FED can in that way get rid of a good deal of the American foreign debt, and the ECB can help the Euro to be a new international reserve valuta. At the same time, the EU has only a small part of the dollar reserves, so their losses will be relatively small.

The real losers will be the countries in the far east, that have invested heavily in dollars.

That’s why the ECB keeps up the rates, while the FED lowers their rates.

By the way, the USA is not the largest economy in the world.

In 2006 the US GDP was 13.000 billion USD, and the GDP in the EU15(the “old” EU) 11.400 billion €.
With todays exchange rate that is 16.764 billion USD, or about 29% larger than the US GDP. Maybe that’s the reason for the shift in reserve valuta.

With a foreign debt of 60% of GDP a large internal public and private debt and a negative private saving rate (-2% in 2006) the US economy is in a relatively bad shape, and on top of that is the sub-prime crisis.

So it is not likely, that the USD will revaluate in the short run.”

Econ-job: Airbus hit by dollar storm

Cavuto on FOX, this Saturday morning, had a couple of predictions for the coming months:

For the credit market: more rate cutting from the Fed

For the housing market: it’s the beginning of McMansions……to McNuggets.

What about the exchange rate? The dollar slalom’s put even Airbus in a tizzy:-

“The dollar has hit new record lows against the euro this week, something which Airbus says favours its US rival Boeing.

Earlier this month Airbus warned it may have to deepen its planned restructuring after steeper than expected third-quarter losses.

It said a net loss of 776m euros ($1.14 bn; £541m) – as against a loss of 189m euros in 2006 – was down to delays with its A400M military transport aircraft.

And it said full-year earnings would only “roughly break even”.”

More at the BBC.

But on Cavuto, the prediction for 2008 for the buck is — an enormous reversal. Pop goes the euro! Here’s hoping.

Ron Paul Revolution: WSJ’s sly hit piece on Paul….

The Mainstream Media are at it again – with this slyly worded mishmash of innuendo and obfuscation about Ron Paul. My comments are in caps and I also bolded important words in the piece:

“Paul’s Supporters Clash with Media”

Amy Schatz, Wall Street Journal, Nov. 24, 2007, A4

[LR: CLASH? AS IN VIOLENT ALTERCATION? AS IN “RP FANS ATTACK LONE JOURNALIST”? HOW ABOUT THIS– “MEDIA CLASHES WITH RON PAUL’S CAMPAIGN”? SOUNDS A LOT MORE LIKE THE TRUTH]

Early Halloween morning, “Taco John” posted a message-board call to arms: “Baltimore Sun Hit Piece…TAKE ACTION NOW!”

[LR: NOTICE THE REPETITION OF THE MEME OF VIOLENCE IN THE PHRASE “CALL-TO-ARMS” — AS THOUGH PAUL’S STORM TROOPERS ARE OUT ON THE STREETS IN STEEL HELMETS]

RON PAUL 2008

 

[balloons]

Ron Pauls’s official Web site: www.ronpaul2008.com

Forums: www.ronpaulforums.com

News: www.dailypaul.com

The paper’s political blog had an item marveling at how Republican presidential candidate Ron Paul had raised more money than “better-known Mike Huckabee, who is taken more seriously.

[LR: “BETTER KNOWN”? HUCKABEE WAS UNKNOWN A SHORT WHILE BACK. SO WHAT’S THE NEWS -WORTHINESS OF SUGGESTING THAT HE’S BETTER KNOWN NOW? EXCEPT TO MASSAGE PUBLIC OPINION IN THAT DIRECTION?]

[LR: AND THAT PHRASE, “TAKEN MORE SERIOUSLY” IS MANIPULATIVE TOO. TAKEN SERIOUSLY BY WHOM? BY THE KING-MAKERS IN THE PRESS PRESUMABLY? THESE ARE THE PEOPLE WHO BOUGHT INTO THE WAR MORE THAN ANYONE ELSE, WEREN’T THEY? WHAT MAKES THEIR OPINION INFALLIBLE?]

Taco John took to an Internet forum frequented by Paul supporters, providing a link to the offending item, as well as phone and email information for the newspaper’s public editor and advertising department. “They’re trying to pigeonhole us,” he wrote. “If we don’t fight back, they’ll keep doing it.”

Taco John, the online moniker of Isaac Lopez, a 32-year-old technology marketer in Vancouver, Wash., is one of many cyber-soldiers for Dr. Paul, the Texas congressman, gynecologist and vociferous opponent of the Iraq war.

[LR: NOTICE THAT PHRASE “CYBER SOLDIER” — CONTINUING THE IMAGERY OF VIOLENCE]

The Paul brigade [LR: MORE OF THE SAME] has largely drawn attention for its fund-raising prowess, raising a record $4.2 million online in a single day in November and leaving the 72-year-old politician with more cash on hand than several rivals and a $1 million TV ad budget for New Hampshire. But some Paul supporters are displaying an aggressive

[WHY NOT CITE A SPECIFIC EXAMPLE AND THEN CITE A FEW FROM OTHER CAMPAIGNS TOO? TASERING THAT 21 YEAR OLD STUDENT AT KERRY’S SPEECH WITH 50,000 VOLTS – NOW THAT SOUNDS LIKE AGGRESSIVE TO ME]

side that seems to spill beyond advocacy into harassment of those [LR: NAME THESE HARASSERS, PLEASE] who disagree or fail to show Dr. Paul sufficient respect.

Taco John, for example, posted contact information for a university professor who called Dr. Paul “unqualified to be president.” [LR:  LET’S SEE. ONE PAUL SUPPORTER POSTS SOMEONE’S CONTACT INFORMATION (ACCORDING TO YOU, OF COURSE) AND YOU’RE SHOCKED, SHOCKED. WHAT ABOUT ALL THE PRO-WAR GROUPS THAT ROUTINELY HARASS, SHUT DOWN, AND SLANDER ANYONE WHO EVEN CRITICIZES US POLICY IN THE MIDDLE EAST? NO WORRIES THERE?]

He also provided information on how to reach several reporters with whom he quibbled, as well as the Iowa Republican Party after it helped set rules for a debate — later canceled — that could have excluded the low-polling Dr. Paul.

[LR: LOW POLLING IN POLLS RUN BY WHOM? RELATIVE TO THE LEVEL OF MONEY HE HAS, PAUL BEATS THE MAJOR CANDIDATES HANDS DOWN IN SUPPORT]

Taco John — the handle comes from Mr. Lopez’s appreciation of former Denver Broncos quarterback John Elway and tacos — is a neophyte activist, who says he was inspired by Dr. Paul’s libertarian platform.

[Ron Paul]

Some blogs have booted Paul supporters for leaving incendiary comments.

[IF YOU WANT INCENDIARY COMMENTS, TRY ANY OF THE PRO-WAR STATIST BLOGS…WHERE YOU’LL FIND FOUL LANGUAGE, PERSONAL ATTACKS, AND REAL RACISTS. IF YOU CAN’T MENTION THEM, THEN DON’T PICK ON PAUL].

They have also been frozen out of Internet surveys and accused of electronic ballot stuffing;

[LR: “ACCUSED” IS NOT CONVICTED…NOT EVEN IN PUBLIC OPINION. IT’S EASIER TO THROW AROUND INNUENDO THAN POINT OUT FACTS. FACTS LIKE CLINTON’S USE OF FBI FILES ON HER OPPONENTS, OR TAKING MONEY FROM NORMAN HSU, OR OTHER UNSAVORY LITTLE FACTOIDS IN HER RESUME. OR WHAT ABOUT GUILIANI’S CONNECTION WITH BERNARD FIDDLING-WHILE-NEW YORK-BURNS- KERIK? HOW ABOUT WORRYING ABOUT THAT?]

Dr. Paul rarely loses online straw polls even though he barely registers in national telephone polls. His supporters argue that they win online polls because there are more Paul supporters and they’re better organized.

Many of Dr. Paul’s supporters say they’re simply fighting a media and political establishment that won’t give him a fair shake.

[LR: THAT’S NOT WHAT HIS SUPPORTERS “SAY.” UNTIL RECENTLY, THAT WAS THE CLEAR FACT]

The big Nov. 5 “moneybomb” fund raiser was timed to coincide with Guy Fawkes Day and inspired by the 1980s comic-book series “V for Vendetta,” in which a vigilante in a Guy Fawkes mask wages war against a totalitarian British state.

The Paul campaign has also drawn support from antigovernment fringe groups and 9/11 conspiracy theorists.

[LR: ANTI-GOVERNMENT IS FRINGE? THIS FROM A WRITER AT THE WSJ? SINCE WHEN IS A PURE CONSTITUTIONALIST “FRINGE” ? I GUESS SINCE  BIG GOVERNMENT WAR-MONGERS STARTED RUNNING THE PLACE.

AS FOR THOSE “CONSPIRACY THEORIES” ABOUT 9-11, WHY BOTHER WITH THEM? WHAT DO YOU CALL THE CLEAR-AS-DAYLIGHT “CONSPIRACY FACT” CALLED THE PROJECT FOR THE NEW AMERICAN CENTURY, SIGNED BY BONA FIDE, OUT-OF-THE-CLOSET CONSPIRACISTS, ALL WORKING IN MAJOR MEDIA OR IN GOVERNMENT. THAT’S THE CONSPIRACY THAT CALLS FOR AMERICAN DOMINATION OF THE WORLD (OH YES, AND OUTER SPACE TOO) AND ENDLESS, RANDOM, PREEMPTIVE WARS.

IT’S WHY THE REST OF THE WORLD IS GLOATING AS THE DOLLAR COLLAPSES.

LOOKS LIKE THE TIN-FOIL HATS ARE IN POWER — NOT ON THE FRINGE]

Since mid-September, a large “Ron Paul for President” banner has flashed at the bottom of white-supremacist Internet forum Stormfront.org.

[LR: OH YAWN! BACK TO SMEAR 101. MENTION PAUL NEXT TO STORMFRONT…HEY, WHY NOT HITLER, JACK THE RIPPER, GENGHIS KHAN AND BELA LUGOSI, TOO? MEANWHILE, WHAT ABOUT FEMINAZIS FOR HILLARY…..OR ZIONISTS FOR RUDY.

NOT AS CATCHY?

OR ARE SOME BIGOTRIES MORE EQUAL THAN OTHERS?

STORMFRONT – NASTY AS ITS LANGUAGE IS – DOESN’T YET HAVE A KILL RECORD OF MILLION PLUS. THE PROWAR LOBBY DOES]

“Really, we haven’t seen a candidate like Ron Paul in some time. The closest would have been Pat Buchanan” in 2000, says Don Black of West Palm Beach, Fla., the group’s founder and a former Ku Klux Klan grand wizard, who donated $500 to Mr. Paul’s campaign.

[EVEN ANDREW SULLIVAN THOUGHT THIS PIECE OF TRIPE WAS CHARACTER ASSASSINATION. BUT HERE’S WHAT. PAUL SHOULD RETURN THIS MONEY. BUT SO SHOULD GUILIANI, OBAMA, MCCAIN, CLINTON AND THE REST RETURN MONEY THEY’VE TAKEN FROM ZIO-CON RACISTS AS WELL AS FROM ANTI-SEMITIC EVANGELICAL RACISTS].

The Paul campaign has a hands-off approach when it comes to supporters’ activities and political backgrounds. While grateful for the money, aides insist they aren’t responsible for what supporters do online. “We don’t know who a lot of these people are,” says Jesse Benton, a campaign spokesman.

Mr. Benton declined to make Dr. Paul available to comment. “Sometimes, Ron Paul supporters get a little over passionate and maybe a little more shrill than what some might like,” Mr. Benton says. “For the most part, our supporters are polite and mannerly.” He has his own conspiracy theory: Some other candidates’ supporters may be masquerading as Ron Paul supporters to hurt his campaign.

[LR: YES, HOW ABOUT THAT? THAT WOULD NEVER HAPPEN NOW, WOULD IT?]

The impassioned campaigning threatens Dr. Paul’s efforts to convince undecided Republicans that he appeals to more than antiwar libertarians and fringes of the Republican Party.

[LR: ANTIWAR LIBERTARIANS ARE FRINGE REPUBLICANS? OH, PLEASE! ABOUT 40% OF THE COUNTRY (THE PART WHICH IS WIDE AWAKE) IS ANTIWAR AND ABOUT A THIRD THINKS SOMETHING WAS AMISS ON 9-11].

[Chart]

“Basically, it got to the point where someone could put up a post saying they were going to the bathroom, and a dozen Paultards would comment, ‘Vote for Ron Paul while you’re there,’ along with another dozen warnings of the Zionist conspiracy in the toilet,” says Erick Erickson, founder of popular conservative blog Redstate. A month ago, the site banned posts from some Paul supporters, branding them “MoRons.”

[LR; MORONS, PAULTARDS – WHY AREN’T THOSE IN QUOTES? THOSE ARE SOMEONE’S NASTY OPINIONS, NOT FACTS. MEANWHILE, YOU’RE ACCUSING PAUL SUPPORTERS OF BEING AGGRESSIVE.

DOUBLE STANDARDS, DON’T YOU THINK? AND NOTICE THAT YOU CALL REDSTATE BLOG “POPULAR,” WHILE YOUR WHOLE PIECE IS SLANTED TOWARD TELLING US THAT RON PAUL IS NOT.

YOUR BIAS IS SHOWING, DEAR. DO TRY TO COVER UP]

Afterward, the site was “deluged” with comments and “swarms and swarms” of hate mail, Mr. Erickson says. He changed the site’s phone number, and says other blog owners have contacted him seeking advice on discouraging Paul supporters from posting.

[LR: HATE MAIL? WHY DOESN’T ERIC ERICKSON COME OUT WITH THIS HATE MAIL AND SEE IF IT’S ANYTHING UNUSUAL OR JUST A FIGMENT OF HIS IMAGINATION. LET’S HAVE A LOOK AT THE MAIL WRITTEN BY CLINTON’S PEOPLE OR ROMNEY’S]

Cris Vanricma of Ludington, Mich., removed Dr. Paul from his bipartisan presidential poll, StrawPoll08.com, after receiving nasty emails from some Paul supporters, contending some polls that Dr. Paul wasn’t winning were rigged.

[LR: “NASTY EMAILS”…POOR DEAR. THE NASTIEST WEB POSTS ARE USUALLY FROM FOAMING-AT-THE-MOUTH FANS OF CARPET BOMBING AND THEIR STATIST BUDDIES. LIBERTARIANS (LEFT AND RIGHT) TEND TO BE LONERS AND NOT GIVEN TO PACK ANIMAL BEHAVIOR]

The 31-year-old Web designer made a blanket offer: If the messages stop, the congressman goes back on. So far, Dr. Paul remains off the poll.

[LR; YEAH., YEAH. I BELIEVE THIS AND I BELIEVE THAT THE ECONOMY IS DOING GREAT, AND I’M BUYING ME SOME BANK STOCKS FROM THE TOOTH FAIRY TOO]

With issues like the Iraq war and civil liberties at stake, some supporters argue that now isn’t the time for half-measures. David Chesley, 33, of Van Nuys, Calif., put his law practice on hold so he could support Dr. Paul. Mr. Chesley says he was attracted by the congressman’s views on protecting the Constitution after what he considers President Bush’s assault on civil liberties since the Sept. 11, 2001, terrorist attacks. “I have an obligation to make this my full-time job,” says the former Democrat. “All I do every day is go on the Internet or make phone calls or email the media.”

When he felt the media paid too little attention to the Nov. 5 fund raiser, Mr. Chesley, who posts as “RP2008” on a Ron Paul message board, was furious. On Nov. 9, he urged others to “ceaselessly bombard” media outlets. “You need to organize, call, boycott, protest and sue the media that is lying to us, and if you don’t, it is your own d- fault if Ron Paul loses,” he wrote.

[LR: “BOMBARD “– NICE TOUCH, THERE. AND THAT “DAMN” — NEVER EVER HEARD SUCH FOUL LANGUAGE FROM A HILLARY OR BARACK GROUPIE, HAVE YOU? O TEMPORA, O MORES….]

Some Paul supporters preach restraint. “I cannot stand to read another reporter/blogger complain about how they have received profane/threatening/intimidating responses from Ron Paul supporters,” wrote “Hestia,” a frequent poster on the Daily Paul, a popular pro-Paul site. “Sending hostile and abusive emails will not win supporters or encourage bloggers or reporters to write positive articles,” Hestia adds.

[LR: NOTICE THAT ALL THE ADJECTIVES PILED ON ARE NO MORE THAN QUOTES FROM A PAUL BLOGGER SUGGESTING WHAT NOT TO DO AND WHAT THE MEDIA IS ACCUSING PAUL SUPPORTERS OF DOING. BUT IT’S NOT WHAT PAUL SUPPORTERS ARE DOING.

NOTICE THAT THE REST OF THE ARTICLE IS A QUOTE FROM ANOTHER JOURNALIST OPPOSED TO PAUL TO SUCH AN EXTENT HE CALLS ALL HIS SUPPORTERS MORONS AND RETARDS.

NOTICE THAT THE REST OF THE ARTICLE DOES NOTHING MORE THAN GLOM ON TO STORMFRONT AND A 500 BUCK DONATION.

NOTICE THAT NO ONE’S TALKING ABOUT THE HUNDREDS OF MILLIONS GIVEN BY THE ZIO-CON WAR MACHINE THAT KILLS MILLIONS IN COLD FACT, NOT JUST WHAT SOME SMALL GROUP OF MARGINAL RACISTS HAPPEN TO SAY.

SO AT THE END OF THE DAY, ALL THAT’S FACTUAL IN THIS PIECE IS THAT SOME JOURNALISTS (WITH AXES TO GRIND) ACCUSE PAUL FANS OF BEING HOSTILE, ABUSIVE, THREATENING, PROFANE …..

MAYBE THEY’VE BEEN LOOKING INTO THE MIRROR TOO LONG. SOUNDS LIKE THEY’RE DESCRIBING THEMSELVES]

 

Write to Amy Schatz at Amy.Schatz@wsj.com.

And here’s a sample of Ms. Schatz’ prior reporting on Ron Paul – “Ron Paul: Capturing the Spammer Vote?.
This piece with its sniffiness (“not ready for prime-time”) not-so subtly suggests that Paul is winning polls only by ballot stuffing, without which Guiliani – surprise! – would be the winner.

The same allegation in repeated in this next piece of hers, only a month later in March 2007, “Ron Paul Finds Enthusiastic Supporters.”

Of course, Ron Paul fans aren’t the only one whom Ms. Schatz would like to put in their place. She’d like to put the blogosphere back in the kitchen next to the help, as evident from this Outside the Beltway reference to “self-appointed bloggers.”

 

Feed the world with words….and rice…

Play a word game at Free Rice and for each word you get right, they will donate 100 grams of rice to the hungry.

Neat idea – doing good while having fun – and plenty addictive. I totaled 540 grams playing today and plan to do a bit every day. (Do you know what nitid is? or feracious? Me neither. I could have gone on forever, but I was feeling esurient…and had to go and get dinner….oops, refection).

Here’s what they write on their site:

About Free Rice:

FreeRice is a sister site of the world poverty site, Poverty.com.

FreeRice has two goals:

  1. Provide English vocabulary to everyone for free.
  2. Help end world hunger by providing rice to hungry people for free.

This is made possible by the sponsors who advertise on this site.

Whether you are CEO of a large corporation or a street child in a poor country, improving your vocabulary can improve your life. It is a great investment in yourself.

Perhaps even greater is the investment your donated rice makes in hungry human beings, enabling them to function and be productive. Somewhere in the world, a person is eating rice that you helped provide. Thank you.

Thanks to Chris Kevill at Modern Vedic Astrology for the tip.

Financial Follies: questioning the oil price

The oil price, everyone tells us, is exploding upward because of…demand from Asia….fears about supply interruptions….geopolitical worries...diminishing supplies….

Maybe all those. But I blogged another explanation recently which made sense. If you are a Saudi sitting on top of a pile of dhirams pegged to the dollar and the dollar is tanking, you can’t dump your dollars in a hurry without setting off an even bigger avalanche, right?

So, what if you hiked the oil price in bucks to cover your losses and used the dollar as collateral (very illiquid) to buy up more useful assets?

Econ-job: Enter the Bear…..

“Note that the S&P and the Wilshire have NOT confirmed the Dow. In one of the strangest situations I’ve ever dealt with, neither the S&P 500 or the Wilshire 5000 have confirmed the Dow in that neither the S&P nor the Wilshire have violated their August 16 lows. What is the meaning of this absolutely weird situation? I don’t know — honestly I really don’t know. But it is certainly something to think about.

Does the superior action of the S&P and the Wilshire cast doubt on the Dow Theory bear signal? I don’t know. I’ve never in fifty years of watching market action seen this type of situation.

“There isn’t a lot more that I can say that is worth saying. The market has told its story. The scene has changed. I’ve lived through these changes before, and so have my subscribers. A few of my subscribers have been with me for almost 50 years. We’ve survived and done pretty well over those 50 years. We will continue to survive, regardless of the mildness or ferocity of this bear market….”

Richard Russell on how Dow Theory confirms that we have begun a bear market