Category: Oddlies

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Let the Bears Eat Bear Stearns

I agree with Gretchen Morgenson, writing for the New York Times. The Fed shouldn’t bail out Bear Stearns. The fed crossed a line by keeping afloat a major architect of the housing debacle.

I wrote my first blog post about the housing bubble in August 2005, a year after deciding not to buy a home in the Washington, DC suburb of Bowie. It was already clear to me in summer 2004 that something akin to a repeat of the dot-com bubble was taking place in the housing market.

Had we bought in 2004, we would likely hold a mortgage that exceeds the house’s reduced value. We could never have moved to San Diego. 

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It’s Not Alaska, It’s an Adventure

Jean McDermott cracks me up. She’s got a wry, dry sense of humor. Maybe the humorless can’t survive Alaskan winters.

Today, Jean posted a picture of her freezer and, separately, commented on the weather: “A couple days ago we got 10 inches of snow in one night. People up here walked around just beaming. Finally! The bumps in the ski, snowmachine, mushing and skijore trails would finally be smoothed out. No more skidding around on dirt! Not only that, but it has warmed up to a positively balmy 20° ABOVE so everyone is having a bit of a respite from having to put on so much bleeding gear every time one goes outside! 

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Scoble Scrapes Friends’ Trust

Robert Scoble has been the talk of the Web today, for getting booted from Facebook. Robert is back on Facebook now, but he shouldn’t be. Facebook suspended the former Microsoft evangelist blogger for a terms-of-service violation. He used a testing Plaxo tool to mine, or “scrape,” information from about 5,000 of his contacts. [Editor’s note, April 4, 2017: Three Scobelizer posts gone; links removed.] 

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Environmental Question

I hear a whole lot of ruckus about global warming and carbon emissions spewed into the air. I have a question for the environmentalists—some of them extremists—pointing fingers of accusation: How much worse off is the planet because of you and your political maneuvering that ended US adoption of fission reactors in the 1970s?

Environmentalist FUD (fear, uncertainty and doubt) about radioactive waste disposal was a major factor halting nuclear power plant construction in the United States. Meanwhile, many electrical facilities resorted to coal and, gasp, oil—fossil fuels that produce carbon dioxide when burned. 

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Fake Steve Jobs is Revealed!

The Secret Diary of Steve Jobs is one acerbic—and hugely popular—Weblog. Also known as Fake Steve Jobs, the author has had quite a following over that last 14 months. There has been a concerted effort to reveal Fake Steve Jobs’ identity. No longer.

In New York Times story, “A Mystery Solved: ‘Fake Steve’ Blogger Comes Clean“, reporter Brad Stone reveals the identity as Daniel Lyons, a senior editor at Forbes. Today, Fake Steves acknowledged, “Damn, I am so busted, yo“. 

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LOL, The 20-Hour Work Week

When reading that Gartner predicted the end of the 40-hour work, I assumed more hours. Not the case. The analyst firm proclaims the 20-year work week will come by 2015. Say that again?

“As the need to employ skilled staff from demographics unable or unwilling to work 40 hours a week increases, Gartner believes the ’20-hour-per-week job description’ will emerge—a role that can be successfully accomplished in half the normal time…Rather than a draconian measure to halve the working hours of all employees, the 20-hour job description, as suggested by Gartner, is an approach to help increase an organisation’s ability to attract and retain skilled and highly qualified workers”. 

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License, Stupidity, or Politics?

It is nitpicking time for the bone pickers. Last night, the DVR recorded the pilot episode of “Bones,” which was telecast for no reason I can guess; it’s an old episode. I hadn’t seen the first, which shocked from the opening sequence. Anyone from Washington should know that the airport above couldn’t possibly be Dulles. The identified airport isn’t in Washington but Virginia—in, duh, Dulles—and absolutely nowhere close to the U.S. Capitol. About 30 miles distance separates runways and the domed government building.

The view above would fit for Reagan National Airport. No doubt it is that airport. So, why does “Bones” kick off with such a glaring mistake? I make a big deal out of this for two reasons: The show is all about brainiac forensic anthropologists who live and breathe minute details; the setting is Washington, D.C. For either or both reasons, “Bones” should get the airport right. 

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Hybrid Cars are a Bad Idea

I philosophically oppose the concept of hybrid cars. The hybrid is a feel-good response to concerns about the environment that doesn’t go near as far as needed. For other folks, hybrid auto is a no-conscience purchase; it’s about saving money on gasoline. Mother Nature deserves better than these gas guzzlers and air polluters.

How about those natural gas vehicles, like the Metro buses moving around Washington, or ethanol-powered alternatives? They’re no better choices than hybrids. All these vehicles are bad for the environment and in their wickedness preserve an oil-based infrastructure and economy that long ago surpassed any meaningful usefulness. 

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Pump Up Your Common Sense

I really worry about some people, and that is sincerely meant.

This morning, over at the local gas station, the mechanics changed a headlight on our car. Say, how many mechanics does it take to change a lightbulb? Three took about 20 minutes figuring out how to get the old bulb out and the new one in.

While they struggled to see the light, a finely dressed woman drove a polished SUV into the station for fuel. Problem: The gas station had no gas. “Out of Order” signs covered every pump. Undaunted, this woman circled around, eyeing them, before parking before one. 

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Housing Bubble Myths Pop

For more than a year I’ve warned that the housing market would retreat with wicked vengeance, with reverberations moving through the US economy as it did earlier in other countries. Today’s Fortune story “Getting real about the real estate bubble” rips apart some of the myths sustaining the bubble.

Shawn Tully whacks the hell out of four bubble myths: “As long as job growth is strong, prices can’t go down”; “the builders learned their lesson in the last downturn. They won’t swamp the market with new houses when the market turns”; “low interest rates will keep values rising, or at the very least, put a floor under prices”; “restriction on development in the suburbs ensure low supply, and guarantee rising prices”.