tag:blogger.com,1999:blog-4921988708619968880.post2873931118636413780..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: April 29 2010: Pandora's box of toxicsIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger91125tag:blogger.com,1999:blog-4921988708619968880.post-6939324302664256032010-05-03T03:47:24.781-04:002010-05-03T03:47:24.781-04:00Here it comes.....
At least 20 sea turtles have b...Here it comes.....<br /><br />At least 20 sea turtles have been found dead this weekend along a 30-mile stretch of Mississippi beaches from Biloxi to Bay St. Louis.<br /><br />While wildlife officials can't say with certainty the turtles, some endangered, died as a result of the oil spill, the number concerns them.<br /><br /><a href="http://www.wdsu.com/news/23423686/detail.html" rel="Asmitahttps://www.blogger.com/profile/00286652097276900591noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-6363880613767837202010-05-02T11:43:33.877-04:002010-05-02T11:43:33.877-04:00Here are some more resources on the Irish ghost es...Here are some more resources on the Irish ghost estate problem from folks on the ground:<br /><br /><a href="http://ghostestates.com/main.php?g2_view=map.ShowMap" rel="nofollow">Ghost Estates of the Irish Property Bubble</a><br /><br /><a href="http://www.photoshelter.com/c/via-visuals/gallery/Irelands-Ghost-Estates-by-Kim-Haughton/G0000uO5IB_5xvmI/" rel="nofollow">Images of Irish Ghost Estates thethirdcoasthttps://www.blogger.com/profile/02828310354952426682noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-11306390761755878562010-05-02T11:17:51.933-04:002010-05-02T11:17:51.933-04:00New post up.
Power, Transparency and Debt
.New post up.<br /><br /><br /><a href="http://theautomaticearth.blogspot.com/2010/05/may-2-2010-power-transparency-and-debt.html" rel="nofollow"><b>Power, Transparency and Debt</b></a><br /><br /><br /><br />.Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-3245017997236939982010-05-02T10:20:28.013-04:002010-05-02T10:20:28.013-04:00I find that the Denniger "Drill, baby drill&q...I find that the Denniger "Drill, baby drill" piece is one of the few honest writings on the subject. Other than here at TAE, very few people have written about the real choices we face. Forgetting the financial issues for a moment, which make Karl's dream of a nuclear plant on every corner impossible, we have two choices: lower our standard of living and cut our reliance on fossilDJhttps://www.blogger.com/profile/02268326234560351295noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-20153451557756908672010-05-02T10:20:28.014-04:002010-05-02T10:20:28.014-04:00From what I have learned about 401(k) and IRAs, I ...From what I have learned about 401(k) and IRAs, I never would have set them up when I was in my working years. I would have had the money deducted automatically from the paycheck and bought T-Bills via TreasuryDirect.gov . <br /><br />Liquidating the 401(K)& IRA results in a chunk of taxes, but the cash that I have now, is all mine. The net result is about the same as if I never setup those bluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-5072990012549779082010-05-02T09:37:28.219-04:002010-05-02T09:37:28.219-04:00Here's a music link for your box of toxics: O...Here's a music link for your box of toxics: <a href="http://www.youtube.com/watch?v=DPTQA_kzxL8" rel="nofollow">Oretown</a><br /><br /><i>The night stank of diesel<br />And a stranger came to town<br />A cold wind blowing<br />And the rain pouring down<br />Street lights flicker<br />And the power lines moan<br />The moon beat down<br />On a river of bone<br />Someone put the lights out<br /Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-59414668549307204992010-05-02T09:10:21.698-04:002010-05-02T09:10:21.698-04:00Ed Gorey,
Great question again :)
I think Greece...Ed Gorey,<br /><br />Great question again :)<br /><br />I think Greece is indeed headed for a reply of the Argentine crisis. A freeze up can happen very quickly once a tipping point is reached. I wouldn't keep mony in the Greek banking system at this point.<br /><br />It's possible that we could see greater intervention measures in an attempt to forestall an immediate crisis. I do not Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-34512510374901352052010-05-02T08:21:15.308-04:002010-05-02T08:21:15.308-04:00Re: Greek bank runs
The critical factor to watch ...Re: Greek bank runs<br /><br />The critical factor to watch this week will be interest rates on Greek bonds in the secondary market. The EU/IMF bailout will eliminate the rollover risk that the Greek government faced with bonds that mature in late May, but the secondary market for Greek debt is still a huge problem. If interest rates on Greek debt don't fall, or if they continue to rise, Erin Winthropehttps://www.blogger.com/profile/17535747338165517395noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-43209304115845750032010-05-02T08:20:21.531-04:002010-05-02T08:20:21.531-04:00Eliza,
El G gave you the answer I would have give...Eliza,<br /><br />El G gave you the answer I would have given :)Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-26341162749296269732010-05-02T08:18:23.785-04:002010-05-02T08:18:23.785-04:00Zander,
I can't say I was ever comfortable re...Zander,<br /><br /><i>I can't say I was ever comfortable reading him but he did, and probably still does, some very imformative pieces, the China rant, frankly, made him look childish and slightly cretinous to me, boy did I underestimate him after reading his latest "drill on regardless" post.</i><br /><br />Your description is something I would largely agree with. I find at his Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-15162255753161552010-05-02T08:11:42.529-04:002010-05-02T08:11:42.529-04:00rcg1950,
I guess the thing to keep in mind is, qu...rcg1950,<br /><br /><i>I guess the thing to keep in mind is, quoting Stoneleigh "There are no risk-free options." What I'm taking away from all of Stoneleigh's comments is that as the contraction/deflation develops over time the increasing risks will become more apparent to everyone. This will have the effect of driving down all asset prices, even ones traditionally considered &Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-50703740268729051812010-05-02T08:03:43.643-04:002010-05-02T08:03:43.643-04:00Kurt,
Say what you will about Karl; as long as he...Kurt,<br /><br /><i>Say what you will about Karl; as long as he keeps posting links to excellent rants like the one below I'll still check in from time to time.</i><br /><br />I agree. KD has some great information, data and analysis on his site. My thoughts on him as a human being, or our completely different political views, would not prevent me from reading what he does well, as he is Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-57488225609895218862010-05-02T07:49:35.144-04:002010-05-02T07:49:35.144-04:00Pasttense,
There is no risk of default with eithe...Pasttense,<br /><br /><i>There is no risk of default with either the U.K. or the U.S, since the U.K. borrows in British pounds and the U.S. borrows in American dollars and the U.K. and the U.S. can print as many of them respectively as they want. The only risk is the risk of inflation from the printing of this money.</i><br /><br />I disagree. We have seen an enormous credit bubble blown, and Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-14957098418702960052010-05-02T07:44:34.180-04:002010-05-02T07:44:34.180-04:00Allen,
I doubt if there would be much difference ...Allen,<br /><br />I doubt if there would be much difference between a redit union and a TBTF bank when push comes to shove. Lending institutiions have individual ratings, but if people start collectively worrying about the safety of their deposits, they won't stop to check ratings or underlying circumstances. If the 'fear' switch goes on in people's heads, they typically don'tStoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-6058799780743562692010-05-02T07:43:09.706-04:002010-05-02T07:43:09.706-04:00@ sos
I quit Karl.D. a wee while ago after his r...@ sos <br /><br />I quit Karl.D. a wee while ago after his rant which amounted to a declaration of war on China (...ain't got no aircraft carriers, tell them to whistle for the debt we sold 'em ..blah blah blah, you get the picture) I can't say I was ever comfortable reading him but he did, and probably still does, some very imformative pieces, the China rant, frankly, made him look zanderhttps://www.blogger.com/profile/15352619368764868819noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-3634958947672590832010-05-02T07:37:58.648-04:002010-05-02T07:37:58.648-04:00Anon 10,
Ireland (a place I have spent a lot of t...Anon 10,<br /><br />Ireland (a place I have spent a lot of time and love very much) is in terrible trouble. It had one of the worst housing bubbles in the world. In places property prices rose by a factor of 15 in 15 years. That is insanity write large.<br /><br />Like many peripheral regions of the EU, interest rates had always been high there, so no one could borrow much. The Ireland I used to Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-9406466270520446712010-05-02T06:36:09.977-04:002010-05-02T06:36:09.977-04:00With regard to the Gulf blow-out and oil-spill, th...With regard to the Gulf blow-out and oil-spill, the only possible "miracle(s)" are:<br />1. Gunk from formation accumulates and blocks off the wellbore (a "bridge-off"), or:<br />2. The ROVs finally get the blow-out preventer rams (specifically the shear rams)to work.<br /><br />Failing that, it will be a matter of waiting on the relief wells to be drilled. There is no way gordonssonhttps://www.blogger.com/profile/14642977985395439778noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69425914118312559302010-05-02T01:38:45.567-04:002010-05-02T01:38:45.567-04:00DUBLIN, Ireland — The ancient Ireland of the touri...DUBLIN, Ireland — The ancient Ireland of the tourist guidebooks has its share of haunted castles and spooky old ruins. But in the modern Ireland of the post-boom years you are more likely to find ghost housing estates and zombie hotels.<br /><br />In Ireland, with a population of four and a half million, 300,000 homes are lying empty, according to a recent academic survey. Many of them are in anon10https://www.blogger.com/profile/15846761986848381697noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-13653075410663034692010-05-02T01:34:48.034-04:002010-05-02T01:34:48.034-04:00Re the 401-k questions:
Some random thoughts:
If...Re the 401-k questions:<br /><br />Some random thoughts:<br /><br />If you are unemployed, your 401-k can be liquidated. You have two broad choices here. One is to liquidate and move it into a tax deferred IRA. The other is to liquidate it and take the 10% penalty hit as well as the high bracket income tax hit. On the first option, one can move it to a registered broker and instruct him to el gallinazohttps://www.blogger.com/profile/00642036843036726232noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-32855747392166277212010-05-01T23:17:35.885-04:002010-05-01T23:17:35.885-04:00@ pasttense
Even if by some chance the US could p...@ pasttense<br /><br />Even if by some chance the US could print, hyperinflation is still a default. If you gave me a $100 bill 10 years ago and it bought me a fine dinner and good wine back then and today it buys me only a loaf of bread. Well that's not a technical default but it is a default in the sense that, the paper bill is now worthless. There is no way to escape from debt. No way. It VKhttps://www.blogger.com/profile/06843562351166927162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-87205279848171636122010-05-01T23:15:14.928-04:002010-05-01T23:15:14.928-04:00@ zander:
A large portion of the former Confedera...@ zander:<br /><br />A large portion of the former Confederacy is about to receive an object lesson as to the importance of maintaining clean water resources.<br /><br />Whether they learn anything from it remains to be seen.thethirdcoasthttps://www.blogger.com/profile/02828310354952426682noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-48668721175739042552010-05-01T23:05:08.535-04:002010-05-01T23:05:08.535-04:00There was a question a week or so ago about the sa...There was a question a week or so ago about the safety of a credit Union vs. a TBTF bank. I can't find if Stoneleigh gave an opinion on that. Can someone point me to the reply? I am interested in this too. I don't like doing business with a TBTF bank, but are they safer since they are TBTF? What about credit unions?<br /><br />ThanksUnknownhttps://www.blogger.com/profile/03169478828902962864noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-68322213706770548942010-05-01T22:04:07.128-04:002010-05-01T22:04:07.128-04:00There is no risk of default with either the U.K. o...There is no risk of default with either the U.K. or the U.S, since the U.K. borrows in British pounds and the U.S. borrows in American dollars and the U.K. and the U.S. can print as many of them respectively as they want. The only risk is the risk of inflation from the printing of this money.pasttensehttps://www.blogger.com/profile/09180008528348259762noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-78964484331275332072010-05-01T20:49:55.327-04:002010-05-01T20:49:55.327-04:00Re: Retirement Plans (401K / IRA etc.)
I posted t...Re: Retirement Plans (401K / IRA etc.)<br /><br />I posted this comment on the NYtimes website a few days ago in response to an article discussing all the wonderful new options for 401K participants.<br /><br />While my arguments will seem old and stale to long time readers, I try to add something new by describing the mechanism by which I think people will be locked into these plans.<br /><br />Erin Winthropehttps://www.blogger.com/profile/17535747338165517395noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-42813662340449845062010-05-01T19:32:44.979-04:002010-05-01T19:32:44.979-04:00Thanks, mistah charley.Thanks, mistah charley.Eliza Bluehttps://www.blogger.com/profile/16391113260635506269noreply@blogger.com