Thursday, May 17, 2012
Explaining the news- 25words or less
Woman in white: "He's Sooo focused.. hasn't peered down my top once"
Here's a segment we like to come back to from time to time called cleverly enough 'Explaining the news- 25 words or less' in which questions will be posed and.. well, the headline explains..
Remember, the question does not count against the 25 words.. Let's Begin..
A: Greece wants Marshall Plan style bailout while staying in Euro. Others: Hell No! Banks worldwide stand to lose one trillion if Greece leaves; markets scared.
Q: We're impressed. Follow up- if Greece votes the Syriza party into office, does that mean its a done deal that Greece is out of the Eurozone?
A: Absolutely not!! Syriza doesn't seek to leave. Shoddy media portraying it as 'No austerity, No EU' but no member can be forcibly removed.
Q: But why would media and Germany portray it as either-or?
A: Because Germany wants to force Greece out without it hurting European banks or Eurozone itself so its a PR move; portray Greece as baddies.
Q: So how could Greece leave the Eurozone if it says it doesn't wish to go and supposedly the rest of the EU doesn't want it to go?
A: Syriza party wins then rejects austerity. Germany refuses to give more money and Greece either leaves 'voluntarily' and converts to drachma or drowns completely.
Topic: Stock Markets
A: It isn't bad. -- Remember, when Dow was 7,000 in early 2009, the world did not end. The sky did not fall. So let it drop...
Q: But doesn't a strong stock market mean a strong US economy?
A: No, that's a myth. Stock market has been around hundreds of years Yet it didn't reach 2,000 until 1987. Think of the spike in 25yrs!
Q: Wow.. so you're saying...
A: The market has spiked 10,400 pts in 25 years based on speculation, excessive risk, Fed money printing and outrageously low corporate tax rates.
Q: Do you see a crash coming?
A: Its possible. We don't see Bernanke allowing it. Expect QE3 to cost a zillion trillion, then Dow 20,000. The market is That manipulated.
Topic: JP Morgan Chase
A: CEO Jamie "Scumbag" Dimon says it was lost via hedge funds.. he's a liar. The money was speculated.
A: When you 'hedge' you're predicting something over another thing. You may ultimately lose $$ but one will be profit and one will be loss
Q: Right.. So that means what?
A: JP Morgan supposedly hedged yet lost money on both ends.. No. Only happens when speculating i.e. put money at great risk to make large returns.
Q: What will happen to JP Morgan Chase & Dimon as a result?
A: Nothing.. Absolutely Nothing. 'Too big to Fail' and all that; Quickly forgotten like MF Global since its too complicated for most to understand.
Topic: US Post Office
A: There's 2 or 3 employees at our local Post Office which we wish would be included on that list! Otherwise, we feel badly for them.
Q: But many say the Post Office is highly inefficient, hemorrhaging money and moves like this are needed.. Do you agree?
A: We know online bill-pay has killed USPS but so has higher package delivery charges. Why pay $6 to mail gift when Amazon ships free.
Q: It can't be that simple.. charge less?
A: USPS's problems stem from being on the hook for pension payments 15-20years in advance. So every dollar now goes into that.
Q: Ah, so that's the main culprit?
A: To a degree. Higher charges matter too. USPS should experiment- reduce package rates by 33% for six months, or $2 for 2lbs promotion.
Topic: US Elections
A: Ugh.. Must we?? Anyone we would vote for has been dead & buried for 50 years minimum.
Q: Well how do you see things playing out generally speaking?
A: Things going to get drastically worse before election but loyal party voters would not change allegiance even if their candidate was a pedophile..
Q: Um.. OK..
A: So the independents as always will decide. Last time, they voted Obama. This time? Ehh Um.... we'll see
Q: What will be the primary issues of importance outside of the economy?
A: Side issues really don't matter this time. If you believe we're turning a corner, you vote 'D' If you don't, you vote 'R'
Now you're all caught up.. Happy Thursday~