Reading on a Saturday Morning

The Fed, The Ben Bernanke and The Goldman Sachs


I haven't skulked Zero Hedge for a couple of weeks or more.

Big mistake.

For about the first 90 seconds here, you're gonna wish you could throttle either or both of these little bears.

Hang in there.

By the end you'll know for damn sure who needs strangling.

Trust me on this one.



Cut the Deficit


The much maligned New York Times has come up with some wonderful and instructive interactives over the past several months, this one stands among the best.

You are in charge.

Enact your plan to cut the deficit, the interactive does the math for you.

Click the image below to link up the site.




The True Size of Africa



Thanks to Charley D. for this one.


 You Have No Idea How Big Africa Really Is (But This Map Does)

It's about 11.7 million square miles, which is really big—big enough to fit the United States, China, India, Japan, and much of Europe within its borders. And that's precisely what Kai Krause did with this inventive map, "The True Size of Africa," which he describes as his contribution to "the fight against rampant Immappacy."




Click on the above map for the entire piece.


To quote Friederich Nietzchke, Woody Allen and Melvin Udall


The Facebook part of our little group has gone all pensive on us.

What the hell, we're nothing if not indulgent.

Here's a little what if thinking from three of the best.


 “What if a demon were to creep after you one night, in your loneliest loneliness, and say,

'This life which you live must be lived by you once again and innumerable times more; and every pain and joy and thought and sigh must come again to you, all in the same sequence.

The eternal hourglass will again and again be turned and you with it, dust of the dust!'

Would you throw yourself down and gnash your teeth and curse that demon?

Or would you answer, 'Never have I heard anything more divine'?”


"What if nothing exists and we're all in somebody's dream?'


"What if this is as good as it gets"


Reading on a Sunday Morning


From the

Click the photo below for the entire piece.


Climate change game launched

An educational computer game in which users have to save the world from climate change offers an interesting solution – decide the problem is overpopulation and design a virus to kill millions.


Ya know what I find to be most interesting in all of this?

The fact that you never hear about any of the Greens calling for a suicide pact amongst themselves.

Benefits would accrue from a minor decline in the world's population, a disproportionate decline in methane emissions as these gas bags expire, and finally their own pain would end.

It would be a classic win-win solution.


Richard Russell makes it simple


More than once now, I've plugged Richard Russell and his fine site Dow Theory Letters.

As though he needs it.

The following perfectly simple explanation of how to read a chart, perfectly illustrates his value.


Question -- Are charts really of any use?

Answer -- You might as well ask the question, "Are maps of any use?" And the answer is "Yes, both charts and maps are useful with one caveat, you must know how to read them."

Let's take a current example. Below I show a daily chart of the Dow going back three months. The first thing I see is that long blue ascending trendline. It continues higher until it hits what I call a consolidation box. The box is defined by a horizontal line at its top and another one at its bottom. So far, the Dow is "caught" in the middle of the box; it hasn't broken out to the upside or the downside. 

Then I see the red arrow at RSI. The arrow points to RSI heading down. Next I see another red arrow at MACD at the bottom of the chart. Here we see MACD rolling subtly over. In both cases, RSI and MACD appear to be ready to sink lower. This suggests that the Dow will break out below the box.



 If the Dow does break below the box, where is it likely to stop? The first support appears to come in at around 10800 on the chart. That is where the last decline halted when it touched the rising trendline. Often, moving averages will provide mysterious support and resistance levels during advances and declines. Today, the 50-day moving average for the Dow comes in at 10671. This should represent a resistance level on the downside. Below that we have the 200-day MA, which comes in at 10523. 

And that's the valuable information this single daily chart of the Dow provides us with. So are charts useful? Do they serve any real purpose? I'm convinced that they do. But like an explorer with a map, you have to know how to use charts.


Piece of cake.


To quote somebody, but I don't think it's Benjamin Franklin


The Harry Schultz Newsletter Junior came out today.

I'm not going to recommend it only because his is a pay site and Mr. Schultz is very frail and is in the process of transferring his fine newsletter to the Aden Sisters whom I do highly recommend.

Anyway, Mr Schultz references the following quote which has been popping up with accelerating frequency lately and attributes it to Benjamin Franklin.

With all due respect, I don't think this is a Ben Franklin quote, but I can't find evidence one way or the other.

Which of course doesn't change the fact that I believe every last word of the following to be absolute truth.





This goes double for members of Congress, Senators, the entirety of the United Nations, many Mayors and City Council members, political hacks in general, most pundits, and for damn sure every single last scum sucking piece of excrement within the upper management of the world's largest banks (past, present and future).

Just my opinion.


Smart Little Lena Clones


We eulogized Smart Little Lena a month or so ago here.

As stated in that eulogy, he was among the greatest equine athletes of all time.

Below are the baby pictures of his five cloned offspring.

Four of these colts will be sold as four year olds at this year's NCHA futurity sale.

I personally like #4, Dave ..... seriously, Dave.

I don't know ............ he looks like a good guy.

They are being sold because differences of opinion regarding the ethics of the cloning and subsequent use of the cloned colts broke out within the syndicate that owned him, and landed everybody in court.



The above jpeg links to to a pay site article at Nature Biotechnology entitled Nuclear Transfer Saddles Up, that I just know for sure you are are going to want to read over and over again.

Maybe not.

These here gears here  links to an article about a cloned daughter of Docs Serendipity, another great champion cutting horse.  It offers some conversation about genetics vs. environment that's not very tough reading.

I liked it.

This little gear here  will take you to a very easy to read article which explains why these babies' white markings are all different.

I went looking around for a coherent discussion regarding the ethics of all of this ..... never found it.

Aside from the fact that all of this stuff just causes me to marvel, I really don't even know what I think about it.


Even more reading on a Sunday morning



From yesterday's Quarter Horse News


Trainer Mugged Outside Hotel During The Congress 


Dallas Schmidt, a reining and working cowhorse trainer from Cooperstown, North Dakota, was mugged outside of his room at the Baymont Hotel located at the Dublin/Granville Road exit in Columbus, Ohio on Thursday evening. Schmidt was in Columbus attending the Congress.  Schmidt, his wife DaLayne, and their young daughter Bailey had just returned to their room, and Dallas went back to his truck to get a baby bottle.

According to accounts by wife DaLayne, Dallas had parked by some trees and while he was standing on the running boards looking for the bottle, two men came out of the trees and approached him. They told him they wanted his money. Dallas had just emptied his pockets in the room and had nothing for them.

Armed with nothing more than his spurs, Schmidt started kicking his attackers and was able to scare them off. Police later found one of the alleged attackers who was severely injured and is now in intensive care. The spur went under his chin, through his tongue and in to his palate. Because the spur was dirty, he is now fighting an infection.


If you would accept a little advice from your Uncle Roany.

Horse trainers work 10 to 12 hours a day wrestling with heavy and/or strong stuff: bales of hay, young horses, sometimes cattle, occasionally buffalo.

Do not mess with these people, they are hard and stronger than hell.

And for God's sake never antagonize a bull rider, even horse trainers are scared of bull riders.


Reading on a Sunday Morning


James Taranto on Roger Scruton on Oikophobia.


From British philosopher Roger Scruton  Xenophobia is fear of the alien; oikophobia is fear of the familiar: "the disposition, in any conflict, to side with 'them' against 'us', and the felt need to denigrate the customs, culture and institutions that are identifiably 'ours.' " 

The oik repudiates national loyalties and defines his goals and ideals against the nation, promoting transnational institutions over national governments, accepting and endorsing laws that are imposed on us from on high by the EU or the UN, though without troubling to consider Terence's question, and defining his political vision in terms of universal values that have been purified of all reference to the particular attachments of a real historical community.

The oik is, in his own eyes, a defender of enlightened universalism against local chauvinism. And it is the rise of the oik that has led to the growing crisis of legitimacy in the nation states of Europe. For we are seeing a massive expansion of the legislative burden on the people of Europe, and a relentless assault on the only loyalties that would enable them voluntarily to bear it. The explosive effect of this has already been felt in Holland and France. It will be felt soon everywhere, and the result may not be what the oiks expect.

There is one important difference between the American oik and his European counterpart. American patriotism is not a blood-and-soil nationalism but an allegiance to a country based in an idea of enlightened universalism. Thus our oiks masquerade as--and may even believe themselves to be--superpatriots, more loyal to American principles than the vast majority of Americans, whom they denounce as "un-American" for feeling an attachment to their actual country as opposed to a collection of abstractions.

Yet the oiks' vision of themselves as an intellectual aristocracy violates the first American principle ever articulated: "We hold these truths to be self-evident, that all men are created equal . . ."

This cannot be reconciled with the elitist notion that most men are economically insecure bitter clinging intolerant bigots who need to be governed by an educated elite. Marxism Lite is not only false; it is, according to the American creed, self-evidently false. That is why the liberal elite finds Americans revolting.


Reading on a Sunday morning, as usual


Jesse's Cafe Americain is of of my very favorite sites.

To begin with, his biases align perfectly with my own, which of course causes me to think he's really, really smart.

I also thoroughly enjoy the poster art with which he decorates this fine site.

Obviously ..... recommended.

Anyway, the chart below links to a pretty simple discussion titled "Triffin's Dilema Reserve Currencies and Gold" by Walker Todd which begins as follows:


Nearly 50 years ago, Yale University economist Robert Triffin identified the inevitable future deterioration of the dollar in his book, Gold and the Dollar Crisis: The Future of Convertibility (1960). Essentially, Triffin argued, under the Bretton Woods system in which the U.S. dollar was the world’s principal reserve currency (instead of gold, for example), the United States had to incur large trade deficits in order to provide the rest of the world with the liquidity required for functioning of the global trading system. 

Unfortunately, Triffin wrote, U.S. trade deficits eventually would undermine the foreign exchange value of the dollar because foreign accounts would hold an increasing quantity of dollars. Restating Triffin's argument in contemporary terms, as the proportion of dollar claims held abroad versus U.S. gross domestic product (GDP) increases, the foreign exchange value of the dollar must decline if dollar interest rates do not increase at about the same rate as the foreign dollar claims.



The article was originally posted at the American Institute for Economic Research.

Jesse's provided a link at the top of his post to the entire Walker Todd piece.

Got all that?

Jesse has most of it with a cool chart.

AIG has all of it without the chart.

It's all good and not too tough to get your mind around.


Reading on a Sunday morning continues, as usual.


Here are two clear, simple and depressing charts from Calculated Risk.

I'm starting to really like this site, having been turned on to it by Clusterstock Chart of the Day.

It's a little random which we really like around here, with concise, easy to understand posts.


Click either chart for the entire post.



Reading in the Middle of the Night


Fred Reed at Fred On Everything is back with an essay on Mexico and drugs.

Way double highly recommended.


If Mexico were not next to the world’s most ravening drug market, it would be a corrupt, but functioning and reasonably successful upper Third-World country.

If this were not so, Mexico would not have the huge number of American who have come here to retire.

But the country cannot withstand a drug business that, by a common figure, brings the traffickers forty billion dollars a year.

The money means that the cartels can buy heavier armament than can the government, as well as buy heavier officials on either side of the border.

(It is an American conceit that corruption exists only in other countries.)


Reading at 4 in the morning


Thanks to Libby N. for the following.

I don't subscribe to Scientific American.

As most of you know, my reading time is mostly taken up with Gold mongering, Bilderburg expose' types, and other uplifting topics.

Libby sent this through with a comment suggesting that the tone of this article puts it right up my alley.

Sarcasm is an unattractive quality in a woman Libby.

Click anywhere below to link to the balance of the free part of the story.

I'm encouraging all of you to sign up for the digital Scientific American in the hope someone will forward future articles sans the snippy commentary.


Death and Chocolate: Disease Threatens to Devastate Global Cocoa Supply

A blight is threatening the world's cocoa supply. Will genetic intervention save our desserts?

   September 24, 2010

In a rare tale of technology, bio terrorism and chocolate, scientists are racing to sequence the cacao tree genome. They fear that without the genome in hand they will be unable to stop the spread of two virulent pathogens that threaten to devastate the world’s cocoa crop.

Cacao trees were first domesticated more then 1,500 years ago by Mayans living in what is now Central America, but fungal diseases such as witch’s broom and frosty pod have largely chased the bean out of its native habitat. The great worry is that one of these diseases will cross the Atlantic Ocean to West Africa, where 70 percent of the crop is now produced. Cacao trees in West Africa have no resistance to the pathogens, which form spores and spread via the wind, careless farmers and, in at least one case, bioterrorists. Scientists say that just a few infected pods would lead to the loss of one third of total global production.



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