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October 2008
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Month: October 2008

  • Into the Twilight with Honor

    George Rebane San Diego Union Tribune cites (here) that the consumer-driven recession has started in California and nationwide. Over the past couple years, many economists have said the California economy would not experience a true recession until job losses spread from the real estate and construction industries into other segments of the economy.   That day…

  • Ruminations – 18oct2008 (updated)

    George Rebane * The transhumanist Humanity+ organization has launched the H+ web magazine (webzine 3.7MB pdf) to get the word out about humanity’s road to Singularity.  Its lead article highlights the current condition of ignorance about the topic.  Politicians are still promising to ‘bring back jobs’ that are gone forever.  Well, maybe not forever.  If…

  • Obama: Breath officially toxic on 20 January 2009

    George Rebane As part of our country’s turn toward the Socialist States of America, Obama promises to declare CO2 as a toxic gas that will come under the 1990 Clean Air Act which will set ALL emission standards for this natural component of our atmosphere (Bloomberg). Meanwhile the EU is doing the backward two-step in…

  • Barack ‘the Present’ – 1, Joe the Plumber – 0

    George Rebane Well, I think tonight McCain’s hash was settled along with that of Joe Wurzelbacher, would-be plumbing entrepreneur.  We all know how Obama responded to Joe’s concerns about being taxed out of starting his own business.  The smooth senator told ol’ Joe that he had already done well enough, and now Obama’s administration just…

  • Mark to Madness and National Debt

    George Rebane RR readers have been kept up to date on the impact of FASB’s mark-to-market (MTM) rules on the current “Panic of 2008”.  Today the world’s security markets reacted very positively to the international quiver of bailout arrows fashioned over the weekend that included the Financial Accounting Standards Board’s “clarification” of MTM.  Wesbury and…

  • Ruminations – 13oct2008

    George Rebane The Rebane household contributed to the national sigh of relief this morning.  Finally, the markets did not plunge on opening, but actually went the other way.  Taleb’s Black Swan has now made its appearance and, looking in the rearview mirror, it becomes clearer every day how we got here.  People, professionals and consumers,…

  • Musings from the Morning Paper – 11oct2008 WSJ

    George Rebane “… market-value accounting is out of touch with the banking business.” Writes John Woodlief, former audit partner of Chase Manhattan.  He argues persuasively that “letting the accountants set the rules without regard to public policy ramifications” is “not appropriate for bank lending activities” because “lending activities are long-term with profit determined by interest…

  • Overlooked Hole in County’s Economic Bucket

    George Rebane The recent conference at Tahoe, where Nevada County’s economic history, health, and hopes were presented, overlooked THE major component of our county’s finances.  The PDF presentation by the Chico State’s Center for Economic Development has a slide of a bucket that shows the county’s major cash inflows and outflows.  What struck me was…

  • Ruminations – 10oct2008

    George Rebane • ‘A Looming Policy Disaster’ by Jason Scott Johnston of the University of Pennsylvania presents a cool-headed look at the current climate change issue.  In it this paper makes the point that a “sustained, critical look at climate change economics and science is long overdue.”  For those still seeking a reasonable answer to…

  • The Approaching Armageddon of America’s Agriculture?

    George Rebane “Last spring, (Switzerland) began mandating that geneticists conduct their research without trampling on a plant’s dignity.” reports the 10oct08 WSJ on its front page.  The piece goes on to detail how new constitutional modifications are making research in plant genetics a tortuous trail of following mandated procedures which are beyond silly.  Some excerpts…

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