Way to go Golden One Credit Union

The Golden 1 Credit Union of Sacramento purchased $500 million of cash-flow notes on March 23 helping to alleviate a cash crunch the state was facing.

Kayaker comes to aid of sailors

Yesterday, Toni noticed the Lido 14 sailing on the lake then a few minutes later noticed they had flipped (about 300 yards from our dock). we knew how cold the water of Laguna Lake is and watched to see how fast they would right the boat . . . . minutes passed and they didn't right it and they weren't moving with the current so we decided to call 911 and I donned my wetsuit and rowed the kayak out to see if I could help. One of the toughest rowing experiences I've ever had as the current, chop and wind was in my face the whole time. The 3 high school kids were glad to see me and cold. I was able to tow them back to our dock where a fleet of fire engines and other trucks were waiting to help them. This morning there was a photo and caption in the local newspaper click here

Paul Cezanne - THE Impressionist

No one hard more influence on Impressionistic style of painting than Paul Cezanne. All of the masters, Braque, Matisse, Mondrian, Picasso, Johns, Marden et al looked at his work to guide them in their own. And now the Philadelphia Museum of Fine Art has put together a great retrospective click here for more information

Nassim Taleb on leverage

On the subject of debt . . . .

"We cannot have both debt leverage and a hyper-efficient system—the volatility is just too great. What Taleb explains—which no one else does—is that efficiency is already a form of leverage. A highly efficient system removes slack and magnifies small changes. Think of the efficient system as a high-performance aircraft. Each minute of steering input creates a rapid and violent shift of course, speed, or altitude. The system itself is souped up even before you add the debt. Once you do, the pilot is equally jacked up and twitchy, creating an explosive combination. Now imagine that fighter jet trying to fly in a 1,000-plane formation, and you get an idea of the world financial system in the 21^st century.

We can’t erase the technology that created the planes, so we’ll have to make sure we fly sober, maybe even with an onboard computer that dampens the controls. That means getting rid of the debt. It’s that simple."

Alaskan volcanoe Mt Redoubt erupting

Learn all about Alaska's volcanoes here

Down and out in the unemployment line

Late last week a single morther of one was told her application was denied. Her monthly unemployment payments of $1,943 put her $36 over the federal income limit for food stamps. The monthly income limit for a family of three for CalWorks was even lower.

Video - Mork and Mindy get married

What a cast of characters in this skit.

Video - Mork and Mindy (Diablo Canyon)

I was searching through the Mork and Mindy shows on my DVR and found this cute little scene with Mindy indirectly commenting on a certain nuclear generation plant . . . . . now of course, this back in the '80s so it was politically correct to joke about nuclear energy.

Why some traders succeed

“Some traders are succeeding not so much because they are rational, but because they have certain biological traits, including confidence, an appetite for risk, search persistence, and speed of reactions,” all of which are derived from prenatal exposure to testosterone.”
-John Coates, University of Cambridge neuroscientist and former trader

Unfunded Pension update

Many pension funds decided a long time ago to be political machines and social engineer by their investment dollars (without the approval of the pensioners I might add); they directed a portion of their portfolio towards "socially redeeming" companies and away from others like tobacco. Selling tobacco interests was a big financial mistake which has caused pensioners greatly.

CalPERS sold off all tobacco related holdings from their portfolio and did little to affect tobacco growing, distribution, etc. but did cost themselves. Since then, the AMEX Tobacco Index has outperformed the S&P 500 by more than 250% and the Nasdaq by 500%. That one decision cost pensioners more than $1 billion dollars according to a 2008 report by CalSTRS.

I'm not sure what the current impact those decisions have had but it can't have been any better.

Winston Churchill quote

“’You are drunk Sir Winston, you are disgustingly drunk. ‘Yes, Mrs. Braddock, I am drunk. But you, Mrs. Braddock are ugly, and disgustingly fat. But, tomorrow morning, I, Winston Churchill will be sober.”

1st day of Spring

Today, the Sun crosses the celestial equator heading north at 11:44 UT. Known as an equinox, this astronomical event marks the first day of spring in the northern hemisphere and autumn in the south. It also marks the beginning of Norouz, the Persian (Iranian) new year. Equinox means equal night. With the Sun on the celestial equator, Earth dwellers will experience nearly 12 hours of daylight and 12 hours of darkness. Of course, in the north the days will grow longer, the Sun marching higher in the sky as summer approaches. To celebrate the equinox, consider this scenic view of the setting Sun from the island of Naxos in the Aegean Sea. Recorded last June, the well-planned image captures the Portara (big door) in a dramatic silhouette. Measuring about 6 by 3.5 meters, the Portara is the large entrance to the Greek island's ancient, unfinished Temple of Apollo.

Liberals vs Conservatives

James K. Galbraith has pinpointed the defining elements in his piece in the Washington Monthly

The deepest belief of the modern economist is that the economy is a self-stabilizing system. This means that, even if nothing is done, normal rates of employment and production will someday return. Practically all modern economists believe this, often without thinking much about it. (Federal Reserve Chairman Ben Bernanke said it reflexively in a major speech in London in January: "The global economy will recover." He did not say how he knew.) The difference between conservatives and liberals is over whether policy can usefully speed things up. Conservatives say no, liberals say yes, and on this point Obama’s economists lean left. Hence the priority they gave, in their first days, to the stimulus package.

American Express jettisoning customers ???

Chief Executive Officer Kenneth Chenault is shedding customers after efforts to expand backfired, and the company’s stock declined by more than two-thirds in 12 months. The firm is paying some cardholders $300 each to close accounts so the lender can reduce the risk of default as the recession deepens.

Darn, I meant to sign up for those puppies!

Setting the stage for INFLATION

By committing to buy Treasuries and double the purchases of mortgage debt, the Federal Reserve signaled it's determination to avoid a repeat of the Great Depression and it's willingness to pump as much cash into the economy as needed to end the current crisis.

This is called monetizing debt, the cause of currency devaluation. Take a look at what happened to the USD vs EURO yesterday after the announcement.

Fishing Knots

Ever wonder how all those great knots are tied? Well, click here and learn.

Video - Kali and the Hand Shadow

Kali belongs to our cousins the Wakemans and loves to chase shadows . . . . .

for some Madoff victims, this was the first time they lost in a Ponzi scheme!

Tragically, Mr. Breeden said, some people who had invested in the Ponzi scheme that he helped clean up turned around and gave their money to Mr. Madoff. Read the whole story at the Wall Street Journal online here

John Stewart to James Cramer . . . .

“It feels like we are capitalizing your adventure.” Perfect!

Madoffville

Hey, take a look at Bernie's new neighbors . . . . Madoff is joining a corps of aging white-collar convicts including former WorldCom Inc. Chief Executive Officer Bernard Ebbers, 67, now housed at the Federal Correctional Institution in Oakdale, Louisiana, and John Rigas, 84, the ex-CEO of Adelphia Communications Corp. who is imprisoned at the Federal Correctional Institution in Butner, North Carolina.

Crater Lake

If you've never been to Crater Lake in Oregon, it's a must. Here's a look from overhead in the winter.

Remembering Barney McCay

When I first began working at my family's company, American Hardwood, it didn't take too long before I met the Orange County salesman, Barney McCay. Barney was a former national badminton doubles champion. He knew Leo Fender and because of that, American sold all the hardwood lumber Fender Musical Instruments bought for decades, he was instrumental in the sale of spruce to make Howard Hughes' Spruce Goose. You could always count on Barney for a good joke or story. Barney passed away two weeks ago, living to the grand age of 93. Barney won't ever be forgotten by the many who worked with him.

All we need is >>>>>

"All we need to make us really happy is something to be enthusiastic about." Charles Kingsley

Great Image