Saturday, July 11, 2009
Monday, June 29, 2009
Sunday, June 21, 2009
Friday, June 19, 2009
Monday, June 15, 2009
Madoff
Madoff trial
Quote of the dayCaren Low of Harrison, New York, wrote that her family's name is on buildings at the Albert Einstein College of Medicine, the Hebrew Home for the Aged in New Rochelle and the Hebrew University in Jerusalem. She said they are benefactors of Lincoln Center and founders of the Simon Wiesenthal Center in Los Angeles.
She said she went on anti-depressants after she learned what Madoff had done and that now she is looking for work.
"It's absolutely revolting," she wrote. "I guess one lesson learned is not to give away too much money before you die as you never know what can happen."
Incorrect information in the article
Thousands of people lost billions of dollars investing with Madoff, who authorities say confessed to his sons in early December that he had been running a giant Ponzi scheme for decades in which early investors were paid with money collected from later investors.
"Thousands of people lost billions of dollars " that doesn't seem correct:
assume 5000 people lost 1 billion = 5 trillion... and he only lost 50 billion.
Arrived safely
We had a very nice flight and we are now near the North Sea
Temp: 22 celsius
Pics will follow later.
Thursday, June 11, 2009
Tuesday, June 9, 2009
Monday, June 8, 2009
Belgium trip
Lisa is already in Belgium, Naomi and I had to wait for the passport and we will be arriving the 13th of June.
The internet doesn't stop to amaze me.
We will all be returning on the same flight. Using the continental website and using the type of plane and http://www.seatguru.com we are able to determine which seats are good / bad.
The real good seats are mostly gone but I was able to select a seat with some extra room.
Seat 41 A is ours!
Inflation = Default
The headlines are scary.
Standard and Poor's warns that UK gilts (British Treasury bonds) may lose their AAA rating and indicates that U.S. government bonds may also be downgraded. Bill Gross, PIMCO's "bond king," says emphatically that the U.S. will eventually lose its AAA rating.
What does all this mean? Is it possible for the U.S. government to default on its own debt?
Technically, the answer is "no." The government can always print the money to pay its obligations. But from an economic standpoint, the answer is "yes," since printing money causes inflation and pays off bondholders with depreciated dollars.
Link
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