|
Curmudgeon's Commentary Archive Money Magic PUBLIC DEBT: 5/16/12 Web search:
© 2012-Wrisley.com
|
It is not going well in Europe. "The Spanish banking sector is a particular source of alarm. Analysts estimate the nation's lenders could be sitting on unrecognized bad property loans of up to €100bn. The Spanish government last week unveiled a plan to require its banks to put aside an extra €30bn against future possible losses and announced an independent audit of its lenders' balance sheets. But that was seen as inadequate to restore confidence." Europe Rocked By Crisis Tiresome. Every day we get an earful of bad monetary news from across the Atlantic. One weary commentator said he wished Greece and Spain would sink into the ocean. That won't happen, of course, but there's a distinct possibility the strain on the euro will be too great and we'll see several Eurozone nations break away to revive their own national currencies. Seems like a giant step backwards, but history is riddled with reversals. FACEBOOK? NO THANKS. We personally don't need Facebook. We're getting along just fine without it. We wouldn't put money into the highly touted public stock offering because a/ the public is fickle and can tire of time-wasters like Facebook and Twitter.. b/ The Facebook bubble can pop at any time, ala the Dot.Com bubble of several years ago. We'll stick with our comments of January, 2011. Twittering Ourselves to Death.
Here's a vehicle with no driver negotiating the busy streets. A laser atop the car, plus a sophisticated computer, handles it all. Just think what a boon that would be to those among us who can't drive because of bad vision or other handicap! We could just hop in our driverless car and be taken to our destination. A bumper sticker to remind us of economic basics: Deflation
= stronger dollar, declining prices.
"Uh-oh, here he goes again with one of those boring lectures about money." Well, the quality of dollars, euros, yuan, pounds, and other world currencies occupy a lot of space in the news these days, so it may not hurt to try to get a handle on what's going on. Charles Hugh Smith wrote a longish ramble on the subject last month. There are some nuggets in it worth thinking about. What Happens When All The Money Vanishes?
| |||||||
But here's something we'd sink some money into, if we
had the wherewithal. It's Google's suddenly famous driverless
car.