Network Archives

Obama Narrows Field for Fed Chairman to 3

"The proof that none of them deserve the job is that they all want the job. Given that interest rates are climbing, that price inflation is not far behind, that we are likely headed for stagflation and that there is $2 trillion in excess reserves overhanging the economy, you really have to be clueless to want the job. There is no way the next Fed chair is going to look like anything other than a bumbling incompetent. It is dumb to want the position." Continue reading →

Continue ReadingObama Narrows Field for Fed Chairman to 3

Bernanke: A Tenure of Failure

"Can Fed policy get worse under the leadership of either Dr. Yellen or Dr. Summers? Most definitely YES. Unfortunately leadership of the Fed is not the only problem. An institution that relies on good leadership to avoid harm to the economy and the nation is not a good institution. If banks and other financial institutions should not be too big to fail, neither should the Fed. While in the perception of too many, the Fed is both too big and too important to fail, it is an institution that not only could be, but has been, a complete failure." Continue reading →

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America Is a Tax Haven…and That’s a Very Good Thing

"While there are many bad things about the American tax system (including pervasive double taxation and a very uncompetitive corporate tax system), one of few redeeming features of our tax system is that we are a tax haven. Not for Americans, of course, but it turns out we have some good rules for foreigners. I’ve already noted that Delaware is one of the world’s best tax havens because of its attractive incorporation policies, but we also have very attractive federal tax rules. Foreigners take advantage of these policies in ways that attract huge amounts of money to the American economy – more than $25 trillion according to the Commerce Department!" Continue reading →

Continue ReadingAmerica Is a Tax Haven…and That’s a Very Good Thing

Bitcoin: newest frontier in e-money management

"Over the last year, many wealthy Russians lost billions of euros in the Cyprus economic crisis. The Russian government announced plans to intentionally weaken the ruble - plans that were never realized, but which caused quite a scare. President Vladimir Putin banned government officials from holding bank accounts and securities abroad. Historically, the Russian ruble has been a tumultuous currency, suffering major fluctuations throughout the 20th century. For those distrustful of Russia's financial institutions, then, Bitcoin's decentralized basis in math and code may provide an increasingly viable alternative." Continue reading →

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The New York Times Company Sells the Boston Globe at a 96% Loss

"The New York Times Company bought the Boston Globe in 1993 for $1.1 billion. It just sold it for $70 million. But we must factor in price inflation. At 1993′s prices, the Times Company paid the equivalent of $1.75 billion today. So, the company lost a staggering 96%. This shows where print newspapers are headed: down. This also shows where the New York Times is headed: down. American liberalism has bet the farm on three institutions: newspapers, network television, and the education system. All three are under assault by the Internet. The profits are shrinking for newspapers and network television." Continue reading →

Continue ReadingThe New York Times Company Sells the Boston Globe at a 96% Loss

It looks like the inside of a private jet but this is actually the inside of a humble Mercedes van

"A luxury car customising company has unveiled its latest creation - a van which has been turned into a five-star hotel-style suite. Lexani Motorcars has created the Reale which is an armoured Mercedes-Benz B6 Sprinter. The company based in Corona, California, calls it the 'ultimate' in personal security. The stunning inside area is dripping in the finest fixtures and fittings to make it the ultimate mobile home from home. It is lined with Alcantara suede and features handcrafted fine leather seats, a galley kitchen, luxury lavatory with ceramic toilet and gold-plated sink, marble floors, and even a hidden coat rack." Continue reading →

Continue ReadingIt looks like the inside of a private jet but this is actually the inside of a humble Mercedes van

Swiss solar aircraft returns from cross-US flight

"Crowds of spectators welcomed the solar-powered aircraft Solar Impulse on Monday as it returned to Switzerland onboard a jumbo jet following its successful trans-American flight. A Boeing 747 jumbo carrying the prototype aircraft of aviation pioneer Bertrand Piccard landed at Dübendorf airfield in the canton of Zurich just after 7am, the Tages-Anzeiger newspaper reported. Pilots Piccard and André Borschberg completed the historic flight from San Francisco in early July. The world’s first solar aircraft able to fly both day and night powered solely by the sun flew 5,650 kilometres across the United States." Continue reading →

Continue ReadingSwiss solar aircraft returns from cross-US flight

Space cadets gather in D.C. for one-way ticket to Mars

"Around 40 volunteers from thousands who applied for a one-way ticket to Mars gathered in the US capital Saturday to hear from the man behind plans to colonize the Red Planet. Bas Lansdorp, a Dutch entrepreneur, plans to establish a permanent base on Mars in a mission he hopes will take off in 2022 if he can find the necessary $6 billion. Would-be travellers on the mission — named Mars One — would never return to Earth. In April, Mars-One said that the first four volunteers should land on Mars in 2023 after a seven-month journey. New crews would be sent every two years, according to Lansdorp." Continue reading →

Continue ReadingSpace cadets gather in D.C. for one-way ticket to Mars

Japan sends talking ‘companion’ robot to the International Space Station

"When the Japanese astronaut Koichi Wakata arrives at the International Space Station in November, a companion will be waiting for him whose eyes will light up in recognition – literally. Kirobo, the world’s first talking humanoid space robot, has already taken off – in the nattiest red Wellingtons since Paddington Bear – and should arrive at the space station by 9 August to await Wakata’s arrival. It knows he is coming: it has been programmed to recognise his face, and greet him warmly in Japanese." Continue reading →

Continue ReadingJapan sends talking ‘companion’ robot to the International Space Station