Saturday, June 8, 2013

Cab Thoughts 6/8/13

We human beings always seek happiness. Now there are two ways. You can make yourself happy by making other people unhappy--I call that the logic of robbery. The other way, you make yourself happy by making other people happy--that's the logic of the market. Which way do you prefer?"-- Zhang Weiying,

Full hybridization in the car is an option that saves up to 40% on fuel consumption, but it's costly and adds $3,500 to $5,000 to the price of a car. The automakers are making micro-hybrid systems standard equipment for a $250 to $1,000 price differential. The Prius is a full hybrid and while it uses a lead-acid starter battery for cold starts, it relies principally on its nickel metal hydride battery for operating functions.

The third Pens-Bruins game was tremendous and may change the Pens for the future. This team was built to win this and now it seems they won't. Some changes will be made and they likely will be big. Either team could have won with pride. But it seems there was little pride in the stands. It sounds as if the crowd was really abusive and threatening to Pittsburgh fans, enough to steal a lot of enjoyment from this great competition. It is terrible when the players rise so far above the fans.

Who is....Richard Windsor?

Of all the astonishing revelations bubbling up in Washington, the most fascinating is that no one knew where Obama was during Benghazi. No one knows where the President of the United States was for eight hours. I wonder how often that can be said.

There is a lot of implausible deniability going around. Obama read about the IRS in the paper; indeed most things are news to him. Holder knows nothing about anything. But what if it's true. What if these guys have no handle on any policy. Maybe everything is like the congress where broad-faced men with good haircuts are periodically given a short policy summary by postgraduate aides. And the real business of the government grinds on, on autopilot.


The word "devil" ultimately comes from Greek diaballein "to slander, attack," literally "throw across," from dia- "across, through" + ballein "to throw" as in "ball" and "ballistics". "Demon" is less interesting. It comes from Latin daemon "spirit," from Greek daimon "deity, divine power; lesser god; guiding spirit, tutelary deity" (sometimes including souls of the dead); "one's genius, lot, or fortune;" from PIE *dai-mon- "divider, provider" (of fortunes or destinies), from root *da- "to divide"

Japan tax revenues are now down to where they were in 1985. By way of comparison, US tax revenues in 1985 were $734 billion (or $1,174 billion in constant 2005 dollars). Last year, US revenues were $2,450 – that is, more than double the 1985 total. It costs the Japanese government 24% of its revenues just to pay the interest on its debt at current rates (0.85%). If rates rise to just 2.2%, then it will take 80% of revenues to pay the interest. So they want to keep rates low but the older population is selling their bonds for living expenses and the investment world fears a decline in value (and a rise in rates.) So, the Bank of Japan is becoming the market for Japanese bonds. Not a big market, the market.

A baseball secret from Clint Hurdle, the Pirate manager, on what he learned when he began catching as a pro:
“I would blink every time they swing. One thing I found out is if you open up your mouth you can’t blink.”

Doug Sosnik, a former senior adviser in the Clinton White House, wrote in a memo last month that Mr. Obama's re-election "was a great political achievement, but the fact that he didn't set out a clear policy agenda for a second term left him without a clear mandate to govern over a politically divided Congress." Fred Barnes has an article that tries to explain the problems Obama has in his administration this term. He thinks the scandals are minor. First, Obama is rarely able to mask his contempt for Republicans, especially those with conservative views. For another, he began to question Republicans' motives, insisting publicly that their paramount goal in Washington is to protect the rich from higher taxes. As a tactic for encouraging compromise, his approach was counterproductive. According to journalist Robert Merry, "It is a deadlock born largely of the president's resolve to push an agenda for which he has no clear national consensus." And, by failing to ensure that the GOP had some influence on the health-care law, the president gave them no reason to support its implementation.

Golden Oldie:

A different take in Slate ("Telsa is worse than Solyndra") on Tesla's paying off their loan early which they said was sort of a responsibility. The Energy Department had negotiated for options on 3 million shares of Tesla stock as part of the original loan, options that would be worth $300 million based on Tesla’s current share price. Unfortunately for taxpayers, those options no longer exist. Tesla had the right to force the extinguishment of those options by repaying the loan early, as it just did.

Permanent Present Tense:: The Unforgettable Life of the Amnesic Patient, H.M., by Suzanne Corkin is a book about the life of Henry Molaison, a man known in the scientific community only by his initials. When he was 27 a neurosurgical procedure was done with the hope of curing his epilepsy by removing his hippocampi, parahippocampal gyrus, and amygdalae. His epilepsy was not cured but he lost his ability to form new memories. He became a neuroscience phenomenon, subject to unending investigation.
He, of course, did not remember.


This is a life expectancy calculator from an insurer. It is worth the two minutes:
http://media.nmfn.com/tnetwork/lifespan/


Conrad Anker is a mountain climber. He has reached the top of Everest three times and is also the man who discovered the body of George Mallory — the British climber who may or may not have reached Everest's summit before disappearing back in 1924. (Anker's party took photographs that many in the climbing culture found objectionable.)
Anker has also made the preservation of Mount Everest one of his priorities. Today, as the world's highest mountain compels ever-increasing numbers of climbers, it's also accumulating some unwanted weight: Tons and tons of garbage.
"If you're going to Everest for that pristine, I'm-in-the-mountains [experience], it's not the place to go," Anker tells Weekend Edition Sunday host Rachel Martin. "Accept the fact that it's going to be a crowded place."

The Commissioner of the IRS, Douglas Shulman, visited Obama's White House no fewer than 157 times, which is 156 times more than his predecessor Mark Everson ever visited the White House. There may be legitimate reasons but smart ass answers from a public "servant" like "Easter Egg Hunts" will win him few friends.


According to the Klein book, "The Amateur," Bill Clinton hates Obama but agreed to support him in exchange for Obama's support for Hillary in 2016.


The Motley Fool headquarters had a visitor last week: Nobel Prize winner Daniel Kahneman, the author of "Thinking, Fast and Slow". He spoke about how a number of different biases can lead investors to believe they can predict the future with relative confidence. In reality, he argued, they are just deluding themselves. He upset some of their writers who began to reassess their advice in their columns.

One of the many distinctive features of Obamacare is that, while it has not led to the hiring of a single additional doctor, nurse or hospital janitor, it did require the biggest expansion of the IRS since the Second World War.

Aaaaaaannnnnndddddd........a graph of Japan's expenditures and tax revenues:

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