Saturday, 14 December 2013

Bad predictions are natural

The tendency expressed below applies to most professions.






The positive view is that population growth may not really be a problem - it is instead an opportunity.






U.S. Drilling Boom Leaves Some Homeowners in a Big Hole






The Obama Era of Government Downsizing - Instead of Manufacturing Useful Products America makes Guns of Rather Doubtful Utility






By cracking cellphone code, NSA has ability to decode private conversations - The Washington Post

We all probably guessed this, but it's important for experts to state it. NSA has effectively killed the www Internet of people. What will happen with the Internet of things? 






Thursday, 12 December 2013

Corporations That Are Environmentally Responsible - Business Insider







Carriers Switch on Small Cells Slowly | EE Times

And, with femtocells what is obsolete? 

There is a possibility of a massive sickening of the population if the femtocell volume predictions are right and the epidemiology cancer studies are right. 







The rich do not pay the most taxes, they pay ALL the taxes, but they also receive the lions share or almost all of incomes as well.

According to one analyst at least, the fact that taxes serve a redistribution of income role seems noteworthy. Yes! It is. 

The sad fact is that the US economy is not working and the tax figures show it. 

Why do so many Americans need a hand out? 

The missing part of the analysis is that income from monetary expansion is going to the rich and not to employment and incomes of the less well off. The US economy is failing its people big time. The rich know that their income comes from services and so they invest in services. They exclude manufacturing in their real investments and so exclude a huge segment of the livelihood of Americans, hence the non income or low relative income for the vast majority of Americans seeking a job in manufacturing.

Without manufacturing the US economy is doomed.







Apps vulnerable to hacking, warns security company | Technology | theguardian.com







Lloyds has failed to learn the lessons of previous mis-selling fines | Business | theguardian.com

Obviously, jail sentences and stiffer fines needed? 







Criminal Action Is Expected for JPMorgan in Madoff Case - NYTimes.com

And, we may wonder why there is a depression with such banks still operating...







Wednesday, 11 December 2013

Britain has an ethnic problem: the English - The Globe and Mail

Jim, 

Thank you for sending me this link. I have made a meal of it as usual. 
I don't believe it for a second. The average English are absolutely amazing. It's a popular put down to say the average English are somehow behind the ball, but the reality is that they have withstood enormous change in the past decade. The level of integration and goodwill in London is beyond belief. I am so happy that what violence could have happened is still so remote. Newcomers to London and England love the country and people. Yes. Yes. The degree to which a strange incoming population has been received with open arms is truly heartwarming. The rainbow of integration can obviously happen if it is properly orchestrated. Come to London and see for yourselves. 

The real problems in London have nothing really to do with the English nor how well everyone is coping with tremendous economic pressures. It has to do with rich speculators buying up the best properties of Greater London and what average homes should be available to the locals at reasonable cost in speculation hoping to make a flip or turn and then take their capital out. The average locals are housing peasants. They have to spend all of their income on a double two person mortgage and go head long into credit card debt to keep up with the young. 

Foreign banks that have the worst financial records in their own countries, such as Santanders from Spain, which has a dismal history of bad management there, are speculating in the London property market and killing what recovery is possible from that sector. Thank goodness the British government has now introduced a property speculation tax beginning in 2015. That's only a scratch at the problems. 

Unfortunately, the British government does not try understand the most basic of realities with regard to the housing market as it affects the ethnic English. Local councils cannot afford to pay the enormous sums to house a population that is growing so rapidly because of inward migration and an inability of the government / Bank of England to deal with maturity mismatch in the money markets. I participated in the invention / innovation of these markets in the 1970's, trying my hardest to stop the crazy policy of Margaret Thatcher to make Building Societies into banks and allow banks to compete in the housing market. I shake my head in disbelief at the financial carnage and a misunderstanding of the effects of that bad policy has brought internationally. The Americans tried to copy cat London and look what happened. I had Barclays friends earning annual bonuses of half a million on property speculation. They retired to Southern Europe. 

The result of property and stock speculation arising from deregulation and throwing away lessons learned from the 1929 crash was a disaster for locals in England and the States, especially the British who demanded a decent wage but who had no effective union representation as Thatcher rapidly closed down the future of British manufacturing industry the only thing that really produces economic growth. With the focus on services industry the British distribution of income has gone completely towards the bankers and insurance company execs that actually produce nothing but fear.  

And you have read no doubt how the American banks speculated and pushed British banks into speculation. In short, Thatcher's Big Bang was a big bubble that worked in favour of those who could speculate. It favours growth biased towards speculators and bankers. It still does and David Cameron with the help of that Canadian / Yankee Doodle Governor Carney has unleashed another round of costly socially destructive speculation. No wonder the Scot's want to run as far and as fast away from London as they can. It's insane what's happening. 

Thatcher took away education subsidies and introduced reforms that were ludicrous as regards the average Brit. The Scots kids receive subsidized education like the Canadians. The idea that graduates can carry huge debts into their future lives is stupid. Especially, if one factors in the high cost of housing.

Now after the Thatcher years, we have nobody in England that can afford a home with one income. The kids are treated as a cost instead of benefit to society and educational standards have fallen well below preThatcher years. 

What the Social Democrats here did here was imitate Thatcher, which is why people have no choice now. The English should have been housed at affordable costs, the kids should have been educated at affordable costs. The housing / banking crisis should never have happened. 

The English can thank Maggie that the world is in such a mess. That is my view as a former banker who believes he understands the British economy. 

I get angry because it is easy to produce a functioning economy where everyone can afford a home and all the luxuries. What Thatcher is responsible for is a dis functional economy and stupid policies that threaten the economy stability of the whole world.  So from easy peasy, we have slump and bump. No fun and it can lead to major, major international conflicts and what could otherwise have been tolerant people taking to the streets in despair. 

So, when I hear that Maggie did so much for Britain by getting rid of the union power belonging to the lazy English, I just think that if you can read history and understand the most basic of economics of the money and housing markets, you would come to a very different conclusion. The English are just fine in relative terms. What's dysfunctional is the stupidity of David Cameron and the wayward ideas of his one time mentor the misguided shop keeper Maggie Thatcher, such a destructive force. 

Port of call for Jordan - Transport - ArabianBusiness.com







Gulf states rally Egypt investment to buoy army power - Politics & Economics - ArabianBusiness.com







Bahrain-linked London corruption trial collapses - Banking & Finance - ArabianBusiness.com







Gravedigger 'sacked' after newspaper photo - AOL Money UK

Keep your shirt on! 







The Chinese men who have been buying up London - AOL Money UK







YOU HAVE REACHED WOOH'S STREAM
The Internet User's Best Kept Secret

Sketches from scratches is a provocative blogspot that has grown out of the Wuh Lax experience. It is eclectic, which means that it might consider just about anything from the simple to the extremely difficult. A scratch can be something that is troubling me or a short line on paper. From a scratch comes a verbal sketch or image sketch of the issue or subject. Other sites have other stuff that should really be of interest to the broad reader. I try to develop themes, but variety often comes before depth. ... more!