Wrisley.Com
    

 

The Links Page

Jump in anywhere for news, commentary, gen'l info and entertainment.  

Curmudgeon's   Archive.   

Sound Money  
Baruch
Money Magic
Twittering to Death
Posterity's Debt To Me
B-B-C.

Honest Money
Coping with Deflation
Heavenly Sex

FDR & History
Chicken Littles  
Lead us not 
My Obituary
 Legislature &  Embryos  
Ac-cent  the   Positive


What Fools, We Mortals
Unvarnished Truth
End-of-everything Blues
My Immigrant Relative
The Eloquent Pogo
Nesta's Complaint
Unionize School Children
Hucksterism Gone Wild
Unmanageable Religion


Columbia  Weather


 EMAIL US HERE:
Wris
ley.
com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

October 1st, 2014

    "The first person to be diagnosed with Ebola in America was initially sent home with antibiotics after doctors failed to recognise the symptoms of the deadly disease. A desperate search has now been launched to find other people in Dallas, Texas who the man could have infected. [Snip] He is now critically ill and in isolation at the Texas Health Presbyterian Hospital. The ambulance vehicle used to transport him has been quarantined. Three paramedics who were sent to get him are being kept isolated at their homes and will be monitored for three weeks, the incubation period of Ebola." FIRST U.S. EBOLA CASE

   Inside this building in Dallas at this very moment a visitor from Liberia is isolated.  He has been diagnosed with Ebola, the deadly disease that's disrupting life in sections of western Africa.  Ebola was recently successfully treated but the experimental drug is said to have  been used up. 

   There's no point in becoming undone by the threat.  A ton of money and medical expertise is dealing with the matter, but as Stanley Gaye, president of the Liberian Community Association of Dallas-Fort Worth, points out: "People have been calling, trying to find out if anybody knows the family. We've been telling people to try to stay away from social gatherings."

   Breaking News:   Zachary Thompson, director of Dallas County Health and Human Services, said in a morning interview with WFAA-TV.

     "Let me be real frank to the Dallas County residents: The fact [is] we have one confirmed case and there may be another case that is a close associate with this particular patient," he said. "So this is real. There should be a concern, but it's contained to the specific family members and close friends at this moment.

   Unless the Ebola bug gets loose in Dallas there's nothing to fear, but it makes sense to get a flu shot, wash one's hand frequently,  try to build up one's immune system, and try to avoid the lesser viruses that bedevil us in the fall and winter months. 


    The Swiss Referendum on Gold

    Just 'spose The Swiss vote November 30th to bring all their gold home.  This would include a considerable quantity of gold bars presently stored in New York City.  Will the Swiss get the same treatment Germany did when it asked for the return of its gold from storage in U.S. vaults?    "Not right now," said U.S. authorities.  "Later."  And the Germans said "Okay."

    Currency guru Chuck Butler brought the subject up in his newsletter, The Daily Pfennig.

I want to spend a minute or two talking about the Swiss Gold Referendum that will take place on November 30th… Did you know that if the Swiss people vote “yes” on this referendum that the Swiss National Bank (SNB) would have to increase Gold holdings from 10% to 20% of its balance sheet, that the SNB would have to stop selling Gold, and other precious metals, and be required to hold all their Gold within the country…    This is a HUGE deal for Gold, folks…

And I’m not talking about the increase to 20% of the SNB’s balance sheet in Gold reserves… I’m talking about the SNB having to get all of its Gold home… Repatriate is the word, and it’s a nasty word to the U.S. You see, the SNB holds a good portion of their Gold reserves in the U.S. And we saw last year, how difficult it was for Germany to get their Gold, so difficult that they game up and said, forgetaboutit!

This could end up being the straw that breaks the camel’s back folks… I would be keeping an eye on this… And I can’t tell you what I would do any longer, the regulators have put the clamps on that,

- See more at: http://www.dailypfennig.com/2014/10/01/much-draghis-announcement-priced-euro-already/#sthash.UXU7I6Re.dpuf

    "I want to spend a minute or two talking about the Swiss Gold Referendum that will take place on November 30th… Did you know that if the Swiss people vote 'yes”'on this referendum that the Swiss National Bank (SNB) would have to increase Gold holdings from 10% to 20% of its balance sheet, that the SNB would have to stop selling Gold, and other precious metals, and be required to hold all their Gold within the country… This is a HUGE deal for Gold, folks…

    "And I’m not talking about the increase to 20% of the SNB’s balance sheet in Gold reserves… I’m talking about the SNB having to get all of its Gold home… Repatriate is the word, and it’s a nasty word to the U.S. You see, the SNB holds a good portion of their Gold reserves in the U.S. And we saw last year, how difficult it was for Germany to get their Gold, so difficult that they game up and said, forgetaboutit!

    "This could end up being the straw that breaks the camel’s back folks… I would be keeping an eye on this."  

     (We're keeping a sharp eye on it, Chuck.  Glad you are, too.)


Today begins the new federal fiscal year.
The economic boom of 2014 fizzled. 2015 is iffy, too.
     "[Consider] the huge amounts of U.S. Treasury securities that the federal government must redeem each year.  When these debt instruments hit their maturity date, the U.S. government must pay them off.  This is done by borrowing more money to pay off the previous debts.  In fiscal year 2013, redemptions of U.S. Treasury securities totaled $7,546,726,000,000 and new debt totaling $8,323,949,000,000 was issued.  The final numbers for fiscal year 2014 are likely to be significantly higher than that.

    "So why does so much government debt come due each year?" 
$8 trillion Debt Churn

< Mike Snyder lays out the appalling numbers that reveal why the Treasury Department is petrified of rising interest rates.  Should they rise to historic levels where a citizen can squirrel some money away in a bank and get a modest return on it the cost to the Treasury to roll over its multi-trillion dollar loans would be stupendous.  

    Perhaps the day could be saved if Congress immediately began running balanced budgets, but that's impossible.  The voting majority will not hear of it.  They will flatly refuse to elect politicians who fail to spend whatever it takes to subsidize a large fraction of the U.S. population, not to mention foreign clients.  

 Being aware that the scheme is spinning out of control is not much comfort. 


WHAT DO THE SWISS KNOW THAT WE FAIL TO GRASP?
FOR ONE THING THEY KNOW GOV'T RUN MEDICAL INSURANCE IS A BAD IDEA.

   The Swiss have turned down switching the prive health insurance system to a state-run scheme. Referendum results showed that almost 62 percent of voters had shot down a reform pushed by left-leaning parties which say the current private system is busting the budgets of ordinary residents. The results also underlined the national divisions over the hotly-contested issue as the country´s German-speaking regions voted against the plan, while their French-speaking counterparts were in favor. Switzerland´s private insurance lobby hailed the vote.

   The Swiss appear to understand that medical service is not a "right" but a valuable resource for aid when one is sick or injured.  They buy private insurance to help offset the costs of medical care.  Medical insurance is supposed to be like house or car insurance in that one hopes not to make a claim. The insurance companies must try to keep premium income above payouts, but when the government intervenes something has to give.  It's generally the level of service.  



Central Bank Problems Made Simple.
    "Don’t call these central bankers crooked patsies—-they are just dimwitted public servants trying to grind jobs and growth out of the only tool they have. Namely, buying government debt and other existing financial assets in the hopes that the resulting flow of liquidity into the financial markets and the sub-economic price of money and debt will encourage more borrowing and more growth. This is the core axiom of today’s unholy alliance between financial speculators and central bank policy apparatchiks."  PEAK DEBT>  < This chatter about the inability of central banks to stimulate economies as in days of yore seems pretty boring at first glance, but David Stockman manages to make it quite clear that the traditional low interest formulae are not working as well as hoped.  This is classic "pushing on a string" stuff and businesses and individuals must borrow heavily and spend big to pull their economies back from the brink of deflationary depression. 

     There is a time to avoid debt.  It is NOW. 

   OVERCOMING DEFLATION
The constant battle to maintain a "just right" level of inflation.

   "We must distinguish between the prices of consumer goods and the prices of assets that are bought with leverage. The latter is a threat to those who borrow short-term to finance long-term assets. For example, when a real estate developer sells 3-year bonds to buy a large commercial building. Since the developer can’t amortize the debt in three years, it will roll its liabilities—sell new bonds to pay off the old ones. This is a form of counterfeit credit. One way to get in trouble is if the market value of the property falls. Then the bonds cannot be rolled." Monetary Cancer in Europe

   Keith Weiner sees the central banks as running into serious problems trying to GET PRICES TO RISE.  Why would they want to do that, and what's so horrid about falling prices anyway?  (Ooops.  We just remembered.....wages are prices, too.  No one wants THEM to fall.)


  "VOLUNTARY TRANSITIONING"
Are you an elderly drag on society? Beware schemes that suggest you exit life sooner than you wish.

    "Now we have Ezekiel Emanuel, Ari and Rahm’s brother, making quite a splash with his article “Why I Hope to Die at 75” in the Atlantic. While he doesn’t plan on suicide, he will stop receiving medical treatment. He says people deteriorate, and are less productive and creative. So why stay around so long?" A NATION OF CHILDREN

We posted this quote from Mr. Emmanuel earlier this week:

"Americans may live longer than their parents, but they are likely to be more incapacitated.
 Sound desirable? Not to me." ~Ezekiel Emmanuel

   Uh-oh!  Here it comes.  We all laughed when Sarah Palin said "ObamaCare" was bad news for old people because it would lead to "death panels" making decisions about withholding medical care from the oldest among us.  But here is a liberal architect of the Affordable Care Act beating the drum for pulling plugs and limiting medical procedures after age 75!  Die at Seventy-five.

    Emmanuel claims to be opposed to suicide or euthanasia for the elderly - but says life beyond 75 shouldn't be prolonged.  "Let nature take her course," says he.  He's from the make-them-comfortable-and-let-them-expire school.  

    We personally have a very strong interest in schemes like this.  Had Emmanuel's idea been in place some years ago the Missus would have been denied open heart surgery at the age of 80.  Nearly five years have passed and she's perking along on all cylinders, thank you.  

    The topic will muscle its way into mainstream debate as vast numbers of elderly edge toward life's exit.  A key issue will be society's obligation to pay the bills for maintenance of old folks who have outlived their financial resources and their medical bills become a conspicuous public expense.  It will be one helluva debate!


BREAD (Food Stamps) AND CIRCUSES (TV and other entertainment).
Another comparison of the U.S. and ancient Rome
   "The corruption, arrogance, hubris, currency debasement, materialism, imperialism, and civic decay that led to the ultimate downfall of the Roman Empire is being repeated on an even far greater scale today as the American Empire flames out after only two centuries."
                          Bread, Circuses, and Bombs
< This essay is too long for average readers but the gist of it is the U.S. has fallen into the same trap that led to the fall of Rome. "Roman satirist and poet Juvenal displayed contempt for a degraded Roman citizenry that had shunned civic responsibility, shirked their duties of citizenship within a republic, and had chosen to sell their votes to feckless politicians for assurances of bread and circuses."

   The Roman Empire disintegrated, eventually, and plenty of authors see a parallel between old Rome and modern-day America.   Today half the population is subsidized by government, and more than half spend hours each day with Internet and television.  Only four hours a day is more than one full day per week!  This trend prompted the late Neil Postman several years ago to write "Entertaining Ourselves to Death."  

   Add the heavy cost of war in far-off places and one may ask from whence the money will come to pay for it all.