Monday, May 17, 2010

Obama assembles A-Team to plug oil leak.

Check this out.. it's kind of wild (i found this on  Obama has assembled a crack team of scientists and engineers to take a look at the oil leak problem that BP has had trouble dealing with.  As some of the commentors have noticed 2 of the guys are nuclear physics dudes... 1 guy is a robotics guy... 1 guy is a petroleum guy... and one guy is a physics guy (Washu Astrophysics Prof dude) who doesn't feel he can help out much.  But if you take two nuclear guys, 1 robot guy, and 1 petroleum guy... it seems like they want to build a autonomous robot that will deliver a nuclear payload underground to seal off the pipeline.... ok that seems a bit far fetched but apparently Russia has done it several times (5 apparently)....  So basically take Johnny 5, bolt on some tactical nuclear warheads... have the petroleum dude tell you where to point the robot and go kaboom underground......  ok maybe that's not actually what they wanna do.... but it sure makes for a good narrative...

Excerpt from article:
Still, asking one of the key inventors of the hydrogen bomb, along with an engineer who helped develop techniques for mining on Mars, counts as out-of-the-box thinking. Here's a quick rundown on the president's unlikely team:

Tim Vs. Wild:Update

Ok my peeps. so my good friend Tim Dailey quit his job a few months ago and decided to go all Jack Kerouac / Thoreau into the wild.  Well basically he decided to sell all his stuff and travel across America in search of fun and shenanigans.  Check out his website here .  Here are some interesting excerpts from his travels.

-Bar 2 to Banta shut-in.  The shut in was kind of neat as it was performed by volcanic activity. I found an old man on the trail that supposedly was not supposed to be there.  A couple of days later the rangers were asking me about him.  I didn't hear anything about more about him, although his Jeep was still on the trail when I exited.  I wonder if he died?
5-1 Tejas to Dog Canyon.  Dog canyon was very pretty and had lots of birds.  Coyotes sang me to sleep.
5-16 Holy shit it's about 2am, and something woke me up... i hear a rustling of leaves somewhere off in the distance.... it's cold outside... the night air forms little puffs of smoke that you can see.... it's all quiet... i decide to take a look out side... holy shit it's bigfoot.... (ok this particular 5-16 is not actually an excerpt from timvswild but i'm hoping he gets to see the loch ness monster or something....)

good luck tim

Cold Steel Knive Videos: Awesome Business

Ok so when I was down in DC my friend Claude was showing me this DVD he got with a Cold Steel Catalog. Cold Steel makes high quality knives, swords, and weapons that appear to be designed to actually cut/stab stuff.  The big thing is the videos they made to show 'Absolute Proof' of their cutting prowess 'totally rock'.   What is great is the sheer enthusiasm and awesome that these guys have.

The president of the company and various divisions are the guys who are cutting pigs in half, attacking suits of armor, car hoods, bamboo, and all types of other stuff.....

The reason these videos rock so hard is because for one, these guys look like they are having a ridiculously awesome time.  Add in the background set that looks like they shot it at Midieval Times, and some heavy metal... and you have a winner... I'm not going to lie... after watching these videos I kind of want to buy one of these things...

By the way... these videos make me think that they are preparing for the forthcoming Zombie Apocalypse...... these products look like they are ready for Serious Zombie Killing Business.

Friday, May 14, 2010

I'm now writing for Audrey(TechSocialite's) Check it out

So I'm also writing now for Audrey(TechSocialite's), check this out.
Here is just something related to what I was talking about with a friend the other day.... What do Facebook and Kirby have in common?

Wednesday, May 12, 2010

One Dude might be responsible for the stock avalanche

So apparently the current inquiry into the recent market madness is focusing on ONE DUDE....
check out the latest info in this NYTIMES article here.

Here is an excerpt from the article:
Gary Gensler, the chairman of the Commodity Futures Trading Commission, said at a Congressional hearing on Tuesday that during that crucial time period, the futures trader, whom he would not identify, accounted for about 9 percent of trading volume in the most actively traded stock-index derivative contract, known as the 500 e-mini futures contract. 


Here is another story about it with more details.

During the time period in question, Gensler said the vast majority of the top traders both bought and sold, acting as liquidity providers.
Gensler's testimony hones in on the activity of a single trader in the E-Mini contract but doesn't say whether that trader is to blame for the plunge or if that trader has done anything wrong.
"One of these accounts was using the E-Mini contract to hedge and only entered orders to sell," Gensler's testimony said. "That trader entered the market at around 2:32 [p.m.] and finished trading by around 2:51" on May 6.
"The trader had a short futures position that represented on average nine percent of the volume traded during that period," Gensler said. "The trader sold on the way down and continued to do so even as the price level recovered. This trader and others have executed hedging strategies of similar size previously."
Gensler also repeated comments from the trading exchanges and SEC Chairman Mary Schapiro that their reviews haven't turned up evidence of a "fat finger" that substituted billions for millions.

For those of you who aren't sure what a SHORT FUTURES POSITION IS, check this explanation out.

also this is interesting... Futures contracts do not have the short-selling uptick rules as stock trading does

Tuesday, May 11, 2010

TechSocialite - Mix and mingle with the world's supergeeks

So my friend Audrey sent me her latest creation.
I think the tagline pretty much says it all.  "Mix and mingle with the world's supergeeks"

About Audrey:  On top of being a fount of inexhaustible energy, her latest adventure was being on the winning team on the Chevy South by Southwest Film Festival Road Trip Challenge.

Sunday, May 9, 2010

Schumpeter Vs. Keynes

Here is a great paper by Peter Drucker on why Schumpeter PWNS Keynesian Economics.

Here is also a link to the same Peter Drucker article hosted on Forbes.

For those of you not familiar with Schumpeter here is his wiki page.
He is the inventor of the term Creative Destruction which was later used by Theordore Levitt in his epic HBS paper Marketing Myopia.

Excerpts from the Peter Drucker paper:

Keynes asked the same questions that Ricardo, Mill, Marx, the "Austrians," and Marshall
had asked but, with unprecedented audacity, turned every one of the answers upside
down. In the Keynesian system, the "symbol economy" of money and credit are "real,"
and goods and services dependent on it and its shadows. The macroeconomy - the
economy of the nation-state - is everything, with individuals and firms having neither
power to influence, let alone to direct, the economy nor the ability to make effective
decisions counter to the forces of the macroeconomy. And economic phenomena, capital
formation, productivity, and employment are functions of demand.
By now we know, as Schumpeter knew fifty years ago, that every one of these Keynesian
answers is the wrong answer. At least they are valid only for special cases and within
fairly narrow ranges. Take, for instance, Keynes's key theorem: that monetary events -
government deficits, interest rates, credit volume, and volume of money in circulation -
determine demand and with it economic conditions. This assumes, as Keynes himself
stressed, that the turnover velocity of money is constant and not capable of being
changed over the short term by individuals or firms. Schumpeter pointed out fifty years
ago that all evidence negates this assumption. And indeed, whenever tried, Keynesian
economic policies, whether in the original Keynesian or in the modified Friedman version,
have been defeated by the microeconomy of business and individuals, unpredictably and
without warning, changing the turnover velocity of money almost overnight.
But Schumpeter's real contribution during the thirty-two years between the end of World
War I and his death in 1950 was as a political economist. In 1942, when everyone was
scared of a worldwide deflationary depression, Schumpeter published his best-known
book, Capitalism, Socialism and Democracy, still, and deservedly, read widely. In this
book he argued that capitalism would be destroyed by its own success. This would breed
what we would now call the new class: bureaucrats, intellectuals, professors, lawyers,
journalists, all of them beneficiaries of capitalism's economic fruits and, in fact,
parasitical on them, and yet all of them opposed to the ethos of wealth production, of
saving, and of allocating resources to economic productivity. The forty years since this
book appeared have surely proved Schumpeter to be major prophet.
And then he proceeded to argue that capitalism would be destroyed by the very
democracy it had helped to create and made possible. For in a democracy, to be popular,
government would increasingly shift income from producer to nonproducer, would
increasingly move income from where it would be saved and become capital for
tomorrow to where it would be consumed. Government in a democracy would thus be
under increasing inflationary pressure. Eventually, he prophesied, inflation would destroy
both democracy and capitalism.
When he wrote this in 1942, almost everybody laughed. Nothing seemed less likely than
an inflation based on economic success. Now, forty years later, this has emerged as the
central problem of democracy and of a free-market economy alike, just as Schumpeter
had prophesied.

Saturday, May 8, 2010

Audio from the pits yesterday (DOW 8% drop day)

Pit Audio linked off of zerhedge. It sounds like a horse race... LOL The robots and fat fingers rule the world.   What is interesting is it starts off as a massive avalanche SELLOFF then before it hits the Circuit Breaker drop level of 1050... someone hits the Apocalypse Now Thermonuclear BUY button.