The Black Rock Desert site has become world renowned as the site of Burning Man. Its remote location has been the subject of endless speculation. Recently, it has come to light that some heavy hitters have taken interest in some surrounding property. It has been speculated that a 4000 acre ranch nearby has sold for $6.5 millions to some notable names. The Burning Man Foundation named as buyer. Originally, the rancher was asking $40 million for the property. He got smart, and took the $6.5 millions. Your first offer is usually your best offer.
Now what would the foundation be doing in the middle of the desert? Camping? Raising sheep? Distilling cheap vodka? How about a space port? Possibilities are endless when your income is endless. The foundation has had its eye on the Fly Ranch for many years. It actually was the sight of the Burning Man event in 1997. There's water there(hot springs,too). It could become a permanent art installation for memorable art pieces created by some of the many artists involved with Burning Man. Check out the Fly ranch web site. So, you see, anything is possible.
More later.
Lake Tahoe, California's Alpine playground, is anchored on the west shore by Homewood/Tahoma, straddling two counties:Placer and El Dorado. The mayor of Tahoma posts information related to the area and items of interest to residents and visitors alike. Its goal is to be informative, humorous, and timely. Hope you enjoy the site.
Saturday, July 30, 2016
Nevada Land Grab
The Black Rock Desert site has become world renowned as the site of Burning Man. Its remote location has been the subject of endless speculation. Recently, it has come to light that some heavy hitters have taken interest in some surrounding property. It has been speculated that a 4000 acre ranch nearby has sold for $6.5 millions to some notable names. The Burning Man Foundation named as buyer. Originally, the rancher was asking $40 million for the property. He got smart, and took the $6.5 millions. Your first offer is usually your best offer.
Now what would the foundation be doing in the middle of the desert? Camping? Raising sheep? Distilling cheap vodka? How about a space port? Possibilities are endless when your income is endless. The foundation has had its eye on the Fly Ranch for many years. It actually was the sight of the Burning Man event in 1997. There's water there(hot springs,too). It could become a permanent art installation for memorable art pieces created by some of the many artists involved with Burning Man. Check out the Fly ranch web site. So, you see, anything is possible.
More later.
Now what would the foundation be doing in the middle of the desert? Camping? Raising sheep? Distilling cheap vodka? How about a space port? Possibilities are endless when your income is endless. The foundation has had its eye on the Fly Ranch for many years. It actually was the sight of the Burning Man event in 1997. There's water there(hot springs,too). It could become a permanent art installation for memorable art pieces created by some of the many artists involved with Burning Man. Check out the Fly ranch web site. So, you see, anything is possible.
More later.
Oil Glut Causes Anxiety in Moskva
Well, now. Stomach acid is replacing vodka as the new Russian cocktail. With the RIO Games about to start and Russian athletes sitting at home waiting for a phone call from-: a) drug lab, b) Federation authorities, c) Mom, d) Mr. Putin, e) Adele, f) Justin Timberlake, g) Gulag assignment staff, the Kremlinistas got more bad news to add to the mix. Crude oil futures slid further in weak trading to $41.21/barrel as traders acknowledged that stored oil around the world exceeded 500 million barrels of crude. Since Iranian oil reentered the market with pledges of continued pumping, prices have been testing 2016 bottoms again. In January, half a year ago, prices reached $26/barrel, causing producers to shut down many marginally profitable locations. US producers began layoffs that continue, and money for exploration has dried up. Investment in equipment has been curtailed and manufacturers of same have seen profits dip.
These prices give Mr. John Kerry, US Secretary of State,, new leverage when he speaks with his Russian counterpart, Mr. Sergey Lavrov. Given the complicated strategies of both the US and Russya in Syria, this price slide can only mean the military operations of the Kremlin with government forces of Bashar al Assad will be affected. As forces convene on Aleppo, perhaps the Kremlin will be less obstinate and more agreeable to alignment with the US military , such as it is in the region.
But then, they are Russyan. They are confused. They are the largest country in the world. Why do WE have to negotiate with anybody? Answer: M-O-N-E-Y! Or lack there of. With oil revenue still the NO.1 source of foreign exchange, the Kremlin is at the mercy of the market, which they cannot exert pressure upon no matter the politics.
Maybe the few Russian athletes allowed to compete will pay their own way. Maybe they'll have to secure quarters on AirBnb. Maybe they'll have to bunk at the Russian Embassy.
If the price of oil reaches $25/barrel, maybe the forces in Ukraine and Crimea will go back to Moskva . Maybe not.
These prices give Mr. John Kerry, US Secretary of State,, new leverage when he speaks with his Russian counterpart, Mr. Sergey Lavrov. Given the complicated strategies of both the US and Russya in Syria, this price slide can only mean the military operations of the Kremlin with government forces of Bashar al Assad will be affected. As forces convene on Aleppo, perhaps the Kremlin will be less obstinate and more agreeable to alignment with the US military , such as it is in the region.
But then, they are Russyan. They are confused. They are the largest country in the world. Why do WE have to negotiate with anybody? Answer: M-O-N-E-Y! Or lack there of. With oil revenue still the NO.1 source of foreign exchange, the Kremlin is at the mercy of the market, which they cannot exert pressure upon no matter the politics.
Maybe the few Russian athletes allowed to compete will pay their own way. Maybe they'll have to secure quarters on AirBnb. Maybe they'll have to bunk at the Russian Embassy.
If the price of oil reaches $25/barrel, maybe the forces in Ukraine and Crimea will go back to Moskva . Maybe not.
Friday, July 29, 2016
RIO Olympics: Housing Issues
Tahoma's Olympic Flag Monument at Sugar Pine Park: 1960 Winter Games:Who's Missing? |
When we see the roster of Russyans, we will know what's up with the I.O. C. plan.
Pine Lodge at Ehrman Mansion
This weekend marks the annual Heritage days at Sugar Pine Point Park. The mansion will be open with guides in period costumes to explain the history of our local historical treasure. Over the course of 3 days, many visitors will experience the lakefront local, formerly owned by the Ehrman family of San Francisco's Wells Fargo bank empire.
The Pier is in great shape, access has been improved all over the park, and even the locals get out to play at this time. Get out there; have some summer fun. Tours very 2 hours; sign up required.
The Pier is in great shape, access has been improved all over the park, and even the locals get out to play at this time. Get out there; have some summer fun. Tours very 2 hours; sign up required.
Local Situation at Meeks Bay Harbor
The boat ramp at Meeks bay Resort is again closed this season with chains blocking the concrete portion and a deep ditch has been cut to prevent trailers from backing down to the water. It's a sad state of affairs as campers must now go to Obeyers and pay the freight. It seems that USFS and the Bistate Authority has taken water runoff sample analyses to heart and the runoff from the immediate surrounding area contains ample chemicals that end up in the lake. Why? Nobody seems to have an answer. Is it the campground itself acting as a collector? Is it the boats launched? Is it upstream runoff from Meeks Creek and Desolation Wilderness?
The Washoe Tribe has been unable or unwilling to fund the data collection that could provide the answers. No doubt the tribe is content to absorb the loss of launch fees. A noticeable drop in boating activities has marked the Meeks bay experience. Maybe if this winter is again close to the average snowfall, the problem will be resolved. maybe.
General Creek
The Mayor took a stroll around the General Creek /Tahoe merge and noticed a very low flow. Seems just a few years ago, in July, a kayaker could paddle a few hundred yards up the creek, exploring the natural environment and the beautiful scenery. Maybe next year.
The Washoe Tribe has been unable or unwilling to fund the data collection that could provide the answers. No doubt the tribe is content to absorb the loss of launch fees. A noticeable drop in boating activities has marked the Meeks bay experience. Maybe if this winter is again close to the average snowfall, the problem will be resolved. maybe.
General Creek
The Mayor took a stroll around the General Creek /Tahoe merge and noticed a very low flow. Seems just a few years ago, in July, a kayaker could paddle a few hundred yards up the creek, exploring the natural environment and the beautiful scenery. Maybe next year.
Tahoma and PDQ: Bromance Over?
The Mayor has it on good authority that our local grocery store is in line for an ownership change. The current lease is due to expire in less than 2 years. The local owners are ready to retire. Who will step in? How about Raleys'? The mega-shopping store, whose closest outlet is south on Highway 89 at the wye at South Lake where Highway 50 crosses Highway 89 near Myers and the airport.
Raleys' reps explained to our local real estate source that the company is now wishing to expand beyond the mega store location and move into smaller communities as a vehicle to drive expansion and improvement of returns on investment. This is a good thing for the community of Tahoma. Who wants to drive to Obeyers or to Tahoe City for a quart of milk? Who wants to risk a drive to South Lake in January for a doctor's appointment when the black ice is waiting at every hairpin turn? Everybody depends on the local grocery provider. This information will be monitored and updated as more is learned. Stay tuned.
Raleys' reps explained to our local real estate source that the company is now wishing to expand beyond the mega store location and move into smaller communities as a vehicle to drive expansion and improvement of returns on investment. This is a good thing for the community of Tahoma. Who wants to drive to Obeyers or to Tahoe City for a quart of milk? Who wants to risk a drive to South Lake in January for a doctor's appointment when the black ice is waiting at every hairpin turn? Everybody depends on the local grocery provider. This information will be monitored and updated as more is learned. Stay tuned.
Thursday, July 28, 2016
Hillary Accepts Nomination
The Grand Finale of the Democratic National Convention features Hillary Clinton accepting the Party's nomination for President of the USA. It's been a long time coming: the first woman to be a Party's nominee for the highest office in the land. America is fortunate to have this experienced politician to oppose the clueless demagogue Donald J. Trump.
The next 3 months will prove interesting as these two strive for election success. Mr. Trump will have to raise more funds if he wants to have a real chance. Otherwise, he's just spinning his wheels.
The next 3 months will prove interesting as these two strive for election success. Mr. Trump will have to raise more funds if he wants to have a real chance. Otherwise, he's just spinning his wheels.
Wednesday, July 27, 2016
It's a Bird, it's a plane, it's ??????
The Mayor got up the other morning about 7am, and with coffee mug in hand, stepped onto the deck. Out of the corner of his eye, he spotted a low flying object skimming the water in Meeks Bay. Was it airborne? At first glimpse, it seemed like a parasail rider being towed behind a boat. No boat. Then, it seemed like it could have been a hang glider nearing the end of his flight. No, the wing maintained altitude and began to bank toward Rubicon Bay to the south. Within a few more seconds, the motorized flying wing disappeared around Rubicon Point, heading south.
This was a first. More investigation is needed. I doubt that it was a drone, even stretching the definition. Are there more flights coming? Stay tuned.
This was a first. More investigation is needed. I doubt that it was a drone, even stretching the definition. Are there more flights coming? Stay tuned.
Book Review: Armed With Abundance by Meredith Lair, Prof. of HIstory, George Mason Univ., U. of North Carolina Press
We've seen the films produced by Hollywood that provided images of Vietnam to the un -involved public and the two generations that have followed the participants. They have names we know, even if we haven't seen the films: Platoon, Born on the Fourth of July, Apocalypse Now, The Green Berets,Forrest Gump, and many others.
Most of these films had characters who were directly involved in combat operations. Scenes depicted jungle trails, muddy rivers, tropical landscapes, and Asians in native garb. Rarely was the soldier seen outside of these tropical settings. Prof. lair takes an historians approach to the other landscape of Vietnam: that of the noncombatant soldier who supported the infantrymen wherever they were sent to conduct operations. Some of her facts are hard to appreciate because they contradict most of what we know. She states that only about 15% of Vietnam veterans actually served in conflict areas, and the other 85% served in rear or "secure" areas often guarded by line infantrymen on a limited standown from patrolling or engaging Communist NVA soldiers. Prof. Lair takes pains to describe the appearance of the rear areas as recreations of a Stateside military base complete with PXs, movie theaters, swimming pools, and even 'clubs' for serving alcohol along with 'entertainment'. Because of the long coastal littoral of the country, beachfront R& R facilities were often the best places for recreation and recuperation. The warm tropical waters and the fine white sand matched the visions of many a soldier when assigned to a coastal locale.
Her research uncovered amazing dollar figures that indicated vast amounts of soldiers' pay was spent at the PX's sprinkled around the country. The vast MACV base at Long Binh had at one time almost 80,000 inhabitants most of whom were 'not' allowed even to carry a weapon! They enjoyed working shifts from 8am to 5pm with access to restaurant style mess halls with choices of various delights EVERYDAY. As a bonus, after a number of months in country, a serviceman could take a vacation from 'combat zone rigors' and visit, at Uncle Sam's expense, a foreign country for a change of scenery. Examples include Australia, Thailand, Taiwan, Hong Kong, and even Hawaii. ( A few daredevils actually hopped flights to the West Coast to meet wives and girlfriends, unofficially). For many infantrymen, the only escape was a serious wound which required extensive hospital time back in the States. Rarely did a line grunt get transferred to the support units in the 'rear'- he was too valuable a commodity of which there was never enough to go around. Few infantry units ever operated near there listed unit manning levels. Most in the field operated at about 60% levels or less.
Now with an all volunteer Army/military, the Pentagon feels compelled to carry on this facade of stateside life that has defined the deployed American military for almost 50 years. In Iraq and Afghanistan, according to Professor Lair, the conditions in base camps are even better than in Vietnam. With modern communications, deployed troops can instantly share their personal experiences with a wide audience.
Her book will open many eyes; many of those eyes will see a military they never knew existed.
Five Stars *****
contains photos, appendix, and references w/ bibliography
Most of these films had characters who were directly involved in combat operations. Scenes depicted jungle trails, muddy rivers, tropical landscapes, and Asians in native garb. Rarely was the soldier seen outside of these tropical settings. Prof. lair takes an historians approach to the other landscape of Vietnam: that of the noncombatant soldier who supported the infantrymen wherever they were sent to conduct operations. Some of her facts are hard to appreciate because they contradict most of what we know. She states that only about 15% of Vietnam veterans actually served in conflict areas, and the other 85% served in rear or "secure" areas often guarded by line infantrymen on a limited standown from patrolling or engaging Communist NVA soldiers. Prof. Lair takes pains to describe the appearance of the rear areas as recreations of a Stateside military base complete with PXs, movie theaters, swimming pools, and even 'clubs' for serving alcohol along with 'entertainment'. Because of the long coastal littoral of the country, beachfront R& R facilities were often the best places for recreation and recuperation. The warm tropical waters and the fine white sand matched the visions of many a soldier when assigned to a coastal locale.
Her research uncovered amazing dollar figures that indicated vast amounts of soldiers' pay was spent at the PX's sprinkled around the country. The vast MACV base at Long Binh had at one time almost 80,000 inhabitants most of whom were 'not' allowed even to carry a weapon! They enjoyed working shifts from 8am to 5pm with access to restaurant style mess halls with choices of various delights EVERYDAY. As a bonus, after a number of months in country, a serviceman could take a vacation from 'combat zone rigors' and visit, at Uncle Sam's expense, a foreign country for a change of scenery. Examples include Australia, Thailand, Taiwan, Hong Kong, and even Hawaii. ( A few daredevils actually hopped flights to the West Coast to meet wives and girlfriends, unofficially). For many infantrymen, the only escape was a serious wound which required extensive hospital time back in the States. Rarely did a line grunt get transferred to the support units in the 'rear'- he was too valuable a commodity of which there was never enough to go around. Few infantry units ever operated near there listed unit manning levels. Most in the field operated at about 60% levels or less.
Now with an all volunteer Army/military, the Pentagon feels compelled to carry on this facade of stateside life that has defined the deployed American military for almost 50 years. In Iraq and Afghanistan, according to Professor Lair, the conditions in base camps are even better than in Vietnam. With modern communications, deployed troops can instantly share their personal experiences with a wide audience.
Her book will open many eyes; many of those eyes will see a military they never knew existed.
Five Stars *****
contains photos, appendix, and references w/ bibliography
Sunday, July 17, 2016
Free Land Giveaway in Russya
That's right: the apparatchiks in Kremlin have authorized a free parcel of land to any citizen who moves to far eastern Russya near Vladivostok and invests in basic development there. Size : 1 hectare or about 2 1/2 acres in British measure. However, if officials don't like your efforts, they can reclaim the land with improvements after 5 years.
So, 30 year old Mikhail moves with his wife and 2 kids 4000 miles to the Pacific Coast of Russya, near China now, and one can probably see Japan and maybe Alaska/Aleutians. He builds a house, plants a garden(seasonal), gets a job in a fish processing factory or whatever. Then, 5 years later, Boris from Moskova comes knocking and says the State deems your efforts unacceptable and you have 30 days to move out and move on. Hmmmm. What about the title and everything? 'Doesn't matter,' says Boris from Moskova. You knew that going in. Too bad for you, Mikhail.
Ahhh, Russya. Gotta love it(largest country in world).
So, 30 year old Mikhail moves with his wife and 2 kids 4000 miles to the Pacific Coast of Russya, near China now, and one can probably see Japan and maybe Alaska/Aleutians. He builds a house, plants a garden(seasonal), gets a job in a fish processing factory or whatever. Then, 5 years later, Boris from Moskova comes knocking and says the State deems your efforts unacceptable and you have 30 days to move out and move on. Hmmmm. What about the title and everything? 'Doesn't matter,' says Boris from Moskova. You knew that going in. Too bad for you, Mikhail.
Ahhh, Russya. Gotta love it(largest country in world).
The Open: 2016 at Troon, Scotland
The British Open Golf tournament ended today with one of the greatest final rounds in golf history. The pairing of the two leaders featured a 46 year old left handed veteran from America and a 40 year old right handed veteran from Sweden who had never won a major tournament anywhere. The weather was better today than in earlier rounds and spectators ran to 30K+.
The lead changed several times during the 18 hole round and many a deciding shot came up short or just lipped out. Birdies, pars, and bogeys were mixed for each player. At the end, the Swede had his first victory. Henrik Stenson could now hold his head high for having completed a 63 on a final round in a major tournament, something done only by 4 others. Phil Mickelson would have to be content with shooting one of the two best rounds he has ever completed in 320 major rounds at 65. He finished the the tournament just 3 off the winners total.
Pundits enjoyed the competition as expected challengers faded. Who would believe that one of Sweden's own would separate himself from the pack and take home the Claret Jug? Mr. Stenson will wake up tomorrow and stare at the cup in stunned disbelief-"I won that thing?",
he'll ask. This was a first for a Swedish golfer.
Congratulations, Mr. Stenson. Well done.
The lead changed several times during the 18 hole round and many a deciding shot came up short or just lipped out. Birdies, pars, and bogeys were mixed for each player. At the end, the Swede had his first victory. Henrik Stenson could now hold his head high for having completed a 63 on a final round in a major tournament, something done only by 4 others. Phil Mickelson would have to be content with shooting one of the two best rounds he has ever completed in 320 major rounds at 65. He finished the the tournament just 3 off the winners total.
Pundits enjoyed the competition as expected challengers faded. Who would believe that one of Sweden's own would separate himself from the pack and take home the Claret Jug? Mr. Stenson will wake up tomorrow and stare at the cup in stunned disbelief-"I won that thing?",
he'll ask. This was a first for a Swedish golfer.
Congratulations, Mr. Stenson. Well done.
Republican Convention Ready to Begin
Tomorrow marks the beginning of seminal event of the 2016 US Election cycle: the Republican Convention. It is being held in Cleveland, Ohio, a city of high unemployment and difficult race relations among its citizens. The Republicans are keeping their many fingers crossed as the sharp divides among electors has kept the meeting in the forefront of political discussion for some months.
Some predict a Trump win; others think there will be surprises and a coup among traditional Republicans. Having selected Mike Pence, a Senator from Indiana as his vice presidential running mate, not much has changed in the attitude toward candidate Trump-the buffoon's buffoon.
The media is demonstrating its love of spectacle for its coverage; the rest of us will be watching "Top Chef".
Some predict a Trump win; others think there will be surprises and a coup among traditional Republicans. Having selected Mike Pence, a Senator from Indiana as his vice presidential running mate, not much has changed in the attitude toward candidate Trump-the buffoon's buffoon.
The media is demonstrating its love of spectacle for its coverage; the rest of us will be watching "Top Chef".
Turkey and Erdogan
President Ryycip Erdogan of Turkey seems to have survived a coup attempt by military forces. Tow nights ago, Army units closed the bridge that crosses the Bosporus to the Asian side of Istanbul. Then, in various forms in various places, a small group of Army personnel attempted to take over the government. Pres. Erdogan was in Ankara, then he wasn't. He appeared on social media asking citizens to take to the streets in support of democracy, which they did. A group took back the bridge from the military unit of young Turk soldiers, who were beaten by this group, but not killed.
Information is still scarce, and hardly reliable. Some deathes have been reported, and many arrests have been made of upper echelon military leaders, again.
More to follow.
Information is still scarce, and hardly reliable. Some deathes have been reported, and many arrests have been made of upper echelon military leaders, again.
More to follow.
Russya and China: Again
East Coast Russya with Amur River center |
We'll have to go east, to the Amur River, that long broad line that makes up a portion of the shared border. Crossing the river is a problem since there are no bridges, yet. In hopes of providing better economic exchange, the two countries decided, together, to build a bridge to facilitate the shipment of iron ore from Russya to China. China agreed to build 2/3's of the structure, Russya 1/3. The Chinese section-2 kilometers long, was completed in 2014. The Russyan portion, 1 kilometer(+/-), has yet to break ground. Is it money? We know the rouble has taken several hits over the last year. No, it seems that 3 state run entities have been arguing over whose land will get the bridge substructures and whose favorite company will get the contract. Ahhh, life in Russya: not much has changed.
Some bureaucrats(apparatchiks) in the Kremlin view the bridge as a path for Chinese armor if a conflict were to erupt. Some see the delay as evidence of a sclerotic economy hobbled by centralized control; while still others see it as business as usual in the largest country in the world. The exact location is almost 2000 miles from Moskova in the Jewish Autonomous Oblast in the city of Nizhneleninskoye(there's a Lenin in there somewhere), a city of 18,000 souls. Its larger neighbor, Kharbarosvk, is about 110 miles to the northeast. Across the river, in China, is a low lying region of swamps and marshes. Since 1991, the city has lost almost half its population. Part of the problem is the lack of investment by state run and private Russyan companies, while in China, privately owned companies have been allowed to invest. A Russyan official(?) said their section will be completed in 2018. Right.
Thursday, July 14, 2016
Will Kasich Endorse the Darn Old?
Ohio governor JOhn Kasich is again in the spotlight: will he or won't he endorse the clown from NYC? If a candidate doesn't win Ohio, he /she has no chance of winning the White House. The convention of the Republicans begins in Cleveland next week, in Kasich's backyard. It will be impossible to ignore. Maybe Kasich will do the right thing and snub the Darn Old, as he should be snubbed.
Stand up, Mr. Kasich, and ignore this political fraud who wouldn't make a good dogcatcher let alone POTUS.
Stand up, Mr. Kasich, and ignore this political fraud who wouldn't make a good dogcatcher let alone POTUS.
Obama Goes After China
Well, even Obama has limits to his patience. Given that the World Court at the Hague came out against China's territorial claim in the South China Sea(a case brought by the Phillipine Islands), Obama made a statement that China has not reduced or eliminated export duties on rare metals such as tantalum, which in turn provides a subsidy for China's domestic electronics industry and industrial capacity. The applications with the WTO will be in jeopardy now.
In the EU, Mr. Juncker says that China continues to dump steel in the EU at below cost. Steel is the one commodity that affects manufacturing worldwide, and China has been instrumental in its pricing by maintaining operations and production at steel mills that are state controlled, heavily in debt, and are without domestic needs whatsoever. This in itself constitutes state subsidy.
Now we have a Chinese company that wants to by Paramount Entertainment of the US. Is this a good thing? NO. Perhaps, in light of the Communist governments reaction to the Hague decision, investment in US domestic companies should be put on hold by the State Department. Maybe the aggressive posture of the Chinese Navy in the South China Sea should be recognized for what it is: aggressive land grabbing from smaller nations that exist on the perimeter(Vietnam, P.I., Brunei, Australia, Malaysia, Singapore, Taiwan, and Korea, and Japan).
The world knows that China's economy has been in recession for some time due to over production and poor banking policies, but that does not in any way necessitate political hubris on the international stage for it is unacceptable.
Obama has months to go in his final term. Kudos to him for confronting the Asian tiger.
In the EU, Mr. Juncker says that China continues to dump steel in the EU at below cost. Steel is the one commodity that affects manufacturing worldwide, and China has been instrumental in its pricing by maintaining operations and production at steel mills that are state controlled, heavily in debt, and are without domestic needs whatsoever. This in itself constitutes state subsidy.
Now we have a Chinese company that wants to by Paramount Entertainment of the US. Is this a good thing? NO. Perhaps, in light of the Communist governments reaction to the Hague decision, investment in US domestic companies should be put on hold by the State Department. Maybe the aggressive posture of the Chinese Navy in the South China Sea should be recognized for what it is: aggressive land grabbing from smaller nations that exist on the perimeter(Vietnam, P.I., Brunei, Australia, Malaysia, Singapore, Taiwan, and Korea, and Japan).
The world knows that China's economy has been in recession for some time due to over production and poor banking policies, but that does not in any way necessitate political hubris on the international stage for it is unacceptable.
Obama has months to go in his final term. Kudos to him for confronting the Asian tiger.
Monday, July 11, 2016
Invest in European Banks? Not This Week
Well, now. How are the largest European Banks doing these days? Hmmm. Not so good. Not too bad, but, not really making a big impression with investors. Let's look over some current valuations:
European Institutions
Santander...............................-26%
Societe' General.....................-37
Credit Agricole......................-29
Standard Chartered................-12
HSBC.....................................-24
UBS........................................-38
Barclays..................................-47
BNP Paribas...........................-25
Royal Bank of Scotland.........-56
Credit Suisse..........................-50
Unicredit................................-64
Deutsche Bank......................-47
All of these figures tell a story about the current financial situation in Europe: not good. And with the Brexit voting results still being digested here and abroad, these numbers will not change much at all, and will probably get worse.
American banks have also lost value(since January this year), but not as much. Large banks have dropped about 20%, and JP MOrgan only 9%. Bank of America falling the most at -24%.
So, there is pain across the sector,, much of it self inflicted, and much having to do with increased
regulations and regulatory oversight. In other words, banks could not and should not be allowed to jeopardize the world economy by shoddy practices such as shadow banking and derivatives.
The concentration of the global economy in these behemoths has proven to be a root cause of much international instability. However, it appears that governments are finally willing to confront the abusers. Good luck on that front.
Bank stock price valuations 2016 |
Santander...............................-26%
Societe' General.....................-37
Credit Agricole......................-29
Standard Chartered................-12
HSBC.....................................-24
UBS........................................-38
Barclays..................................-47
BNP Paribas...........................-25
Royal Bank of Scotland.........-56
Credit Suisse..........................-50
Unicredit................................-64
Deutsche Bank......................-47
All of these figures tell a story about the current financial situation in Europe: not good. And with the Brexit voting results still being digested here and abroad, these numbers will not change much at all, and will probably get worse.
American banks have also lost value(since January this year), but not as much. Large banks have dropped about 20%, and JP MOrgan only 9%. Bank of America falling the most at -24%.
So, there is pain across the sector,, much of it self inflicted, and much having to do with increased
regulations and regulatory oversight. In other words, banks could not and should not be allowed to jeopardize the world economy by shoddy practices such as shadow banking and derivatives.
The concentration of the global economy in these behemoths has proven to be a root cause of much international instability. However, it appears that governments are finally willing to confront the abusers. Good luck on that front.
Portugal Wins First Prize
That is, the Portugal side won its first major tournament ever. On France's home turf, Saint Denis, the Les Bleus were expected to walk away with the UEFA 2016 Trophy, especially after defeating Germany in the semifinals last week. Portugal, having backed their way into the finals by playing 3 consecutive games that ended in ties, defeated Wales to make the final.
Captain Christiano Ronaldo, 31, was the standard bearer of the side, and he was expected to lead the charge against France. However, in the opening minutes, he was injured, and despite 2 attempts to play on, he had to be carried off in the 25th minute. This energized the Portugal team, and they began to play with higher intensity. This did not translate into a scoring binge, but instead, caused France to struggle against a solid defensive effort that frustrated Les Bleus at every turn. As luck would have it, France' shots were bounding off the goal poles coming back into play. The Portuguese goalie stopped many accurate shots to send the game into extra time. After the first 15 minute period, it looked to all that this game would be settled by a shootout of PKs. And then: crossing to the middle, a young Portuguese player found the back of the net with a direct shot that skidded across the turf into the goal: 1-0, for Portugal. And that's the way it ended.
Capitan Ronaldo was able to hoist the Cup at the victory celebration that followed. The roar from Lisbon could be heard across the continent, even in London.
Captain Christiano Ronaldo, 31, was the standard bearer of the side, and he was expected to lead the charge against France. However, in the opening minutes, he was injured, and despite 2 attempts to play on, he had to be carried off in the 25th minute. This energized the Portugal team, and they began to play with higher intensity. This did not translate into a scoring binge, but instead, caused France to struggle against a solid defensive effort that frustrated Les Bleus at every turn. As luck would have it, France' shots were bounding off the goal poles coming back into play. The Portuguese goalie stopped many accurate shots to send the game into extra time. After the first 15 minute period, it looked to all that this game would be settled by a shootout of PKs. And then: crossing to the middle, a young Portuguese player found the back of the net with a direct shot that skidded across the turf into the goal: 1-0, for Portugal. And that's the way it ended.
Capitan Ronaldo was able to hoist the Cup at the victory celebration that followed. The roar from Lisbon could be heard across the continent, even in London.
Friday, July 8, 2016
Russyan FSB Thugs Take Down US Diplomat
Well, you signed up for foreign service, what do you expect? Mugging? Maybe, not so much. Ahhhh, Russya, such a lovely, mystical place. That's for the Russyans themselves. Everybody else, the place remains the location of unique experiences beyond the rationale; beyond the fantastic; beyond the usual and customary. So, we have a protest by the Dept. of State: "Hey, Kremlinistas, not nice to tackle our diplomats". So what if we put sanctions in place against your corrupt kleptomaniacs; so what if we hold military maneuvers in Poland in your backyard; so what? Come on: grow up.
Impossible.
Impossible.
Thursday, July 7, 2016
UEFA FINAL Set for 2016
It's down to two teams: the UEFA Final this Sunday will feature two great teams: Portugal and France. The game will be in Paris. Security will be tight, that is for sure. After beating the favored German team today, 2-nil, France will advance as the favorite to win the cup. Holding the World Champion team scoreless is a fine accomplishment, to be sure. But can they hold Ronaldo and Co. scoreless? Doubt it.
It will be a great game to watch, and most of Europe will be in front of the TV Sunday morning. And you?
It will be a great game to watch, and most of Europe will be in front of the TV Sunday morning. And you?
Alex Sipiras: Looking For New Friends
Where, might one ask, is the Greek Prime Minister looking for outside assistance to his country's economic and political problems? Germany? No. Italy? No. France? NO. Egypt? Ha. How about China! So, there's the photo op: the tieless/coatless PM strolling among Chinese officials, looking proud of himself, this leader of 10 millions of Greeks who are scared to death for their country's future. With migrants waiting directions, and citizens waiting for economic relief, the leader is abroad seeking the same From a non traditional ally.
But this is where we find ourselves today: searching for answers for insoluble problems that have wide ranging effects. He can't go to London- it's being unraveled by populism that wants relief from the EU apparently. He's already tried Russya, but Mr. Putin is broke, and all his other money is in Switzerland. The Greeks are in a fix with no easy way out. They want to wake up in a couple of years and find today to be just another nightmare. Fat chance.
But this is where we find ourselves today: searching for answers for insoluble problems that have wide ranging effects. He can't go to London- it's being unraveled by populism that wants relief from the EU apparently. He's already tried Russya, but Mr. Putin is broke, and all his other money is in Switzerland. The Greeks are in a fix with no easy way out. They want to wake up in a couple of years and find today to be just another nightmare. Fat chance.
Book Review: The Invention of Russya: From Gorbachev's Freedom to Putin's War, Arkady Ostrovsky
Well, what took this book so long to make it into print? Probably the writer was overwhelmed with subject matter and the editors forced him to cut out material to make the project marketable. In other words, there is a lot here that must be included and a lot was left in the editor's office. Reviewer Karen Dawisha, herself an expert on Russyan politics and history pulls no punches in her opening line: Russya today is ruled by the worst and least talented group of villains Russya has seen since before World War II. Make no mistake about her sympathies. As can be seen in many post revolutionary societies, the best and the brightest have been culled out or have fled, leaving behind a band of pirates. Independent thinkers have long departed the landscape or have been left for dead. The author wrote for the Financial Times and now writes for the Economist. He is a Russyan by birth, a son of Soviet intelligentsia.
In the book, the author points to the state-controlled media as the modern culprit in the promotion of the ideas of greatness, something the average Russyan yearns for. The Kremlin's PR troops create a story and then produce the images to support their story. Reporting stories about Ukraine were meant to ignite the Donetz region population to support the Russyan army's takeover of Crimea and eastern Ukraine. Images seen on TV of "fascists" must be true-they are 'on' TV. This makebelieve 'reality' is fabricated to support Mr. Putin's aggressive agenda.
This a bold and timely expose of current Kremlin policies and serves to illuminate further the attitudes held by Putinistas running the Kremlin.
Well worth the $30.(Viking, 374 pages)
Read it.
In the book, the author points to the state-controlled media as the modern culprit in the promotion of the ideas of greatness, something the average Russyan yearns for. The Kremlin's PR troops create a story and then produce the images to support their story. Reporting stories about Ukraine were meant to ignite the Donetz region population to support the Russyan army's takeover of Crimea and eastern Ukraine. Images seen on TV of "fascists" must be true-they are 'on' TV. This makebelieve 'reality' is fabricated to support Mr. Putin's aggressive agenda.
This a bold and timely expose of current Kremlin policies and serves to illuminate further the attitudes held by Putinistas running the Kremlin.
Well worth the $30.(Viking, 374 pages)
Read it.
Monday, July 4, 2016
RIO: the Clock is Ticking
The count down to the Olympic games has begun, and Brazil is careening toward the start. Running out of money, the state of Rio is pleading with Brasilia to send money, and fast. Much is left to be done before the opening ceremony, a month away.
Athletes have already begun arriving in Brazil, but not at the official village site. Some wish to acclimatize to conditions on the ground during the Brazil winter which began 2 weeks ago. The Zika virus scare has been leavened by cooler temperatures that accompany winter, and health warnings have been appropriately advanced to all countries.
Our Minister of Latin American Affairs is in Rio this weekend to observe the final preparations for the Games. He is also buying some more tickets to get seats for his favorite events. Good luck. I'm sure he'll have good stories to tell as the games get underway.
More to follow as he reports to Tahoma.
Athletes have already begun arriving in Brazil, but not at the official village site. Some wish to acclimatize to conditions on the ground during the Brazil winter which began 2 weeks ago. The Zika virus scare has been leavened by cooler temperatures that accompany winter, and health warnings have been appropriately advanced to all countries.
Our Minister of Latin American Affairs is in Rio this weekend to observe the final preparations for the Games. He is also buying some more tickets to get seats for his favorite events. Good luck. I'm sure he'll have good stories to tell as the games get underway.
More to follow as he reports to Tahoma.
Rats Off a Sinking Ship
Ahhhhh, Great Britain. The turmoil continues as another Brexit leader resigns. That would be Nigel Farage, one of the leaders of the movement to leave the European Union after almost 40 years. He follows that weak link, Boris Johnson, he of unruly "Trump" hair, and the quip a minute personality. He didn't want the spotlight anymore, either. Too direct. Too intense. He liked the limelight while the issue was still under discussion. But now, the die is cast; David Cameron has said he will reign in October of this year.
Who wants to be Prime Minister? NObody? Theresa May? She seems like a likely candidate. A no nonsense leader of the Foreign Office(State) Dept. A geographer by training, she knows the world. She has experience and she appears to be ready to lead a rudderless ship of state. She will be the best antidote to the confusing circumstances that has rendered the Continent into a disorderly mess.
Good luck, Ms. May.
Who wants to be Prime Minister? NObody? Theresa May? She seems like a likely candidate. A no nonsense leader of the Foreign Office(State) Dept. A geographer by training, she knows the world. She has experience and she appears to be ready to lead a rudderless ship of state. She will be the best antidote to the confusing circumstances that has rendered the Continent into a disorderly mess.
Good luck, Ms. May.
Lake Wobegon, Garrison Keillor, and the Pres
In a well-publicized broadcast from the Hollywood Bowl in California, Garrison Keillor, held his final live show after 42 years at the helm of one of the nation's most enduring, most endearing broadcasts. The writer/entertainer, at age 73, says that it's time to move on. He never intended to carry forth for so long; it just happened.
During the program, he took a call from President Barack Obama. The Pres said that he has been a long time listener and follower, and that he could recall listening to the Prairie Home Companion show when he was in the Senate and the Illinois statehouse, many years ago. He sounded very sincere, and Mr. Keillor took the kind words as one who could deeply appreciate the effort by our country's Chief Executive.
It underscores our recognition that time marches on; and time waits for no man.
Happy 4th Of July-enjoy the lake activities and wear a life jacket when out on the water. Be safe.
During the program, he took a call from President Barack Obama. The Pres said that he has been a long time listener and follower, and that he could recall listening to the Prairie Home Companion show when he was in the Senate and the Illinois statehouse, many years ago. He sounded very sincere, and Mr. Keillor took the kind words as one who could deeply appreciate the effort by our country's Chief Executive.
It underscores our recognition that time marches on; and time waits for no man.
Happy 4th Of July-enjoy the lake activities and wear a life jacket when out on the water. Be safe.
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