There yet?

There was a 'not back' series that kept confirming that we were still looking at the idiocies of the finance world while letting engineers do their thing, such as deliver the 787. Of course, we know that there are engineering marvels all around and coming about every day.

---

This marvel of finance exploiting computing is not what it appears to be. In fact, the reality stinks; we'll somehow have to constrain the thing with regulations and moral imperatives. We don't have to count the ways these things can go wrong, as the stench as drifted even up to the heavens.

---

So, we're start another discourse that is more amenable to discussion and test. The automobile's expected life-cycle, for short. Ignoring, for now, issues of planning for obsolescence and other optimization schemes that increase the profit while reducing the utility and issues related to drive-by-wire (et al), let's just look at one vehicle.

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Taken by an old digital camera.

Now, the make and model will be ignored, for now, to protect the not so guilty. The thing is of 2004 vintage and has 163K miles on it without any major breakdowns. Its companion, a little older, has over 149K miles on it.

The drift of the post ought to be apparent now. Yes, why ought we not think that a purchase of a new vehicle is a transaction that allows us to get something that will work for as many years as we want it to? Who can tell us what the life expectancy might be?

---

Insurance companies do this for people. They even put their money up front on betting that they can do the modelling correctly (however, things like the dead peasant must really throw them a curve ball -- who would think that bankers would stoop this low?).

---

Here are a few particulars, to support the query about how far this thing can go:

• -- The miles have been mostly road miles (up to 80+ is common, where it can be driven like that legally and safely); the mechanic says that the brakes are just over 1/4 worn.
• -- For driving habits, all starts are gradual; there is almost nil quick breaking (if it's necessary, it's usually due to some unexpected move by another car); for disclosure, usually the car has out-raced others in seeing who gets to the top of the mountain first (yet, the tach seldom goes above 2500).
• -- It's on its 3rd set of tires. Judicious care about rotation, pressure care, etc. allowed maximal use to within 5/32nds of wear. Since I got a nail in the tire early, I used the spare for a pair. So, then the issue was managing the change over of pairs. A recent change of all four tires now has offered 10/32nds to play with.
• -- Oil changes were kept, for the most part, around 3000 miles. The air filter was changed, at least, yearly but sooner if dirty (you would be amazed at how eight hours driving in rain on an Interstate can trash the filter). Since manufacturers claim that the oil monitoring is a great system, I've giving this a try (but, the mechanics say that they've had to fix many cars that pushed too far without an oil change).
• -- The first major preventive work was changing the transmission fluid around 100K miles. This unit is one of the workhorses in mostly continual use.
• -- The plugs were not changed until 134K miles. They didn't look too badly. A performance change, though, could be seen in acceleration and mileage.
• -- The belt wasn't changed until 154K miles. It had no cracking. There was some stretching in certain load conditions.
• -- Problems: the instrument panel went (could not see speed, drove awhile with a stop watch and eyeballing mileage markers - that only worked out in the country) and took $.5K for fixing. A sensor went but hasn't been changed (it's been out for two years, another story that will be written) since it only applies to startup conditions.
• -- Oh yes, the windshield. It has about 20 dings, one starting to crack slightly. Insurance will change that; already has done this once. Needless to say, the wipers have been changed (but, they're kept clean).
• -- Light bulbs have been pretty good. One headlamp and one taillight, so far.
• -- Body work, interior -- only one ding that happened in a parking lot with a cart (intentional?); of course, trying to remove bug juice can be an issue; the interior doesn't have any real problems after 7 years. The thing still looks good when cleaned and shined up a little (never have added wax -- mostly hand washing).
• -- Warranty work: there was one little recall item early on. Did not buy the extended warranty this time with the thought that I would self-ensure. Turns out that I saved the money. The manufacturer (or its representative) is still trying to get me to buy this type of insurance at 163K miles.
• ...

---

There may be more to add to the list. Right now, we can ask two questions. Can this vehicle go to 200K miles without any major work? If so, what about 300K? One mechanic told me that he had just done the first brake job on a pickup with over 300K miles on it.

---

Now, as we know, the answer would depend upon several things which we'll get into. One thing is that all of the subsystems have some life expectancy. What are those? Where do you go to find these?

You see, people ask these questions all the time. No one seems to want to answer. Why? I can go to the web and find expected life of household items. Why not for auto systems?

I can tell you a lot about tires. The major worry there, for me, was tread and handling since I'm doing year around driving (only got stuck once in the snow -- the better tread was on the front tires at the time -- the thought, at the time, was safety over traction). The casing can have a very long life (hence, re-rubbering as we see with trucks) if cared for properly.

---

If there are places where this data is available, I, and others, would sure like to know. If it is there, how do we make it more than anecdotal?

Remarks:

03/27/2015 -- Almost 210K. See photo from Nov. 2014 (see some disclosures).

10/12/2014 -- Over 200K. This story is apropos: F250, 1M miles, 4 years.

06/24/2014 -- Over 198K. Wrote a review at Kelley's Blue Book. Also, updating the Talk page on Wikipedia. Latest incident was an actuator arm freezing (A/C system) after a battery failure. -- General question: With all of the recalls of late, are we seeing engineering cutting too many corners? Too, some of these were due to software issues; are they just hacking away? Where is the software engineering discipline?

04/25/2013 -- Over 180K, several weeks ago. Had the transmission serviced, again. It looked good. The first time was about 100K miles as this is one of the work horses. A recent failure was the water pump going out. But, with that fixed, the Rainier runs smoothly and quietly. On a business trip, I rented a new Buick and almost got hooked on all of the newer features that one finds nowadays. But, I'll be thorough in checking out all options before buying new. In the meantime, a couple of road trips are planned with the Rainier.

Taken by by phone camera but
modified to grey scale. 

09/17/2012 -- Approaching 180K. In the past year, replaced one failed sensor used to determine fuel mixture at start-up temperatures. Put on a new set of tires. Of late, getting queries about selling. Evidently, this year of Buick Rainier has built a reputation for reliability. 

Modified: 03/27/2015

OWS

There have been several developments the past few weeks. One of the major events relates to the Title, which is not expanded for a reason (see below).

• 1% versus 99% -- the latter is finding a voice and a presence - finally, one might say. Tech Ticker has a good overview of the basic issues.
• best-and-brightests' lack of sense versus the public's heart -- again, it's good to see that there is still something afloat (the suppression of the past decade was extreme).
• own Wall Street versus occupy Wall Street -- of course, those running the game think that they own the street; actually, we could do a better job with a bunch of smart monks.

All of this is too new to see what's going to be the end results. However, the blogger is happy to see the unfolding, almost deja vu (so many ways, to boot).

Remarks

12/13/2011 -- McKinsey report shows that households hold over 40% of the world's wealth. Hence, the consumer as the major influence on the economy. Now, consider that the household wealth collection (using income in the U.S. as a proxy) is skewed to a very small bunch.

10/18/2011 -- Hopefully, the OWS will bring this type of thing to public awareness.

10/15/2011 -- The recognition goes global. Banking ought to be handled by those whose greed is close to nil.

10/14/2011 -- One thing that has always concerned the blogger was the trickery that finance did with student loans which ought to be as straightforward as mortgages. Yet, some play games with those needing the support and, in doing so, made oodles (atrocious, in essence). Some of have this in mind as they join in the protest. Yes, it was turned over to bankers of whom there are many types; and, do not bankers exist for the purpose of filling their pockets?

10/13/2011 -- Cain, the candidate, has a 9-9-9 tax plan. Of course, those at the top would pay less, fattening their pockets more. Those at the bottom would be bled. What is interesting is that he wants to remove any capital gains tax. Guess what? That would put even more money, and silliness, into the gaming that we're now all paying for. Actually, the short-term profits (milking the system, actually) and speculative gains ought to be taxed higher than anything. The consequence of these things -- though, the aura is hyped daily by pundits, tv, and more? Moving money to the bigger pockets (small set) from myriads (very, very large set) of the hapless.

Too, Cain, of the boot-strap thinking, worked for the government (Department of Navy -- not in uniform, mind you) for his starter work. And, in a well-paid position with all sorts of benefits. Yet, he wants the young people (it seems) to create a position for themselves out of thin air (we'll have to re-address the whole perpetual motion issue -- no, we're not talking the mouth motion of people like Cain -- it has to do with accumulation expectations that are unrealistically founded and are not sustainable (except by chewing up the hapless)).

Where is the worker's equivalent of the 13th amendment? Workers, in many cases, are indentured servants (ah, we can easily explain this). We want them to enlarge their debt in order to keep the controls in place (shackles). Remember the Irish and the IPhone suicides (as if those using these things care about that sort of thing -- sort of like us not being mindful of the mistreatment of farm workers as we belly up to the tables of bounty).

Modified: 12/13/2011

CEO MVP

As in, the 'most valuable' of the CEOs. I first saw this in Fortune (May issue). That Jamie is foremost on the list got my attention.

---

Will need to find out what were the results of the poll.

---

The whole notion reeks of the claim here that what are roles has turned into a 'cult of personality' sort of thing. And, the importance of the role is not in question. Rather, that this type of top-down person can rake off so much is a very big issue (see Wealth).

---

So, there will be much to talk about in this regard. But, first, let's just go down the line of the qualities (see article) needed by this new type of king (whose wings have not been clipped yet by the proper Magna Carta).

• understand global business in their bones -- or, 'true citizens' of the world (come on, Fortune, I thought you were better than this). Exploiting workers, and other resources while building up a framework that is beyond the reach of law, and more? I have no problem with applying the 'bones' (intuition, folks) as those at the lowly side of things do that, to boot. Those with their hands in the dirt. Yes, indeed.

• change strategies and business models more than before -- innovate at a deep level? does that not imply that there are those AT THAT LEVEL who can, and are allowed to, innovate? Let me remind you all, after the innervation! Besides, how can this sit with the ego-maniacal boss at the top (as in, from whence will we see self-adapting organisms, with autonomous parts, congealing to an effective entity? -- what? yes, the real indicator of a mature humanity!)?

• skillfully manage relationships with governments -- ah, a tight-rope walk here, do you not think? smooze, do you say? The balance that will be required for the political (used in a universal sense) and the business and the social (used as the closure - hence, fairly broad) realms is very important indeed. Is this then the place for the swash-buckler?

• identify and manage risk before they become disasters -- crap, have we not heard that before? In fact, just a few years ago, were not risk's uncertainties forever put to bed since it was being so well managed (as in, pushed under the cover or out to the hapless)? Are we to forget that Jamie and his kind are at the core of the troubles?

---

No doubt, these four items cover a lot of territory. Anyone who can handle them all has a lot of talent. Yet, Jamie does what exactly for his company? I never see him when I go talk to a banker (yes, I see that he doesn't want, or has been allowed, to not pay me and my kind -- oh, wait, it's Big Ben who is behind that).

---

So, let's see who Fortune crowned as MVP.

In the meantime, is it okay if I go barf?

Remarks:

04/27/2013 -- The *CEO* is only crap without his engineers, lowly workers and many others. Too, these types keep us from having a sustainable economy.

05/29/2012 -- Jamie's bank in the news, again.

10/12/2011 -- CEOs could look to Paul.

10/09/2011 -- Kings have sovereignty over their dominion however large it may be. There, currently, is no king of the world of this type. CEOs have sovereignty over their companies. Now, many of these have domains that are larger (measured many ways) than geographical types of kingdoms. BUT, each has sovereignty over themselves (or ought to), ideally (constitutionally, if you're in the U.S.A.).

Now, being able to exhibit sovereignty requires talent of various sorts. Throughout history, those who ruled others may or may not have had this talent. From all of the turmoil over the millenia, one has to just marvel at the stupidity of these types, exhibited, in the modern age, by the CEO MVPs.

Our task is to foster that which enhances one's self-sovereignty and diminishes others' influence on oneself. Oh wait. The social media seem to be antithetical to this notion. Also, all of those issues related to mature interactions (of a peaceful manner) must be resolved (philosophers have long been involved with that dilemma).

It is this type of notions that are behind a lot of what motivates the current protests. Those who could (LT 1%) have exploited (and have been allowed to exploit) the rest (GT 99%).

10/07/2011 -- Magna Carta, the celebration thereof.

Modified: 04/27/2013

OFFME (HSC)

OFFME stands for The Order of the First Families of Maine. It is a historic and genealogic organization; many of these came to be in the past century.

 The OFFME ancestor list consists of people who were early into Maine. ‘Early’ is considered to be from 1604 to 1652 which makes them prior to the Virginia and Plymouth settlement efforts. The purpose of the group, which started in 2003, is, in part, “to honor those hard and enterprising early ancestors who concentrated their efforts, labor, and skills in building the enduring greatness" of the State of Maine.

Other goals are to “educate, preserve and increase of the history of Maine” and more.

OFFME, like its sister organizations, is partly under the umbrella of The Hereditary Society Community (HSC). There are many (over two hundred) organizations (chronological list) spanning from 1637 (Ancient & Honorable Artillery Company of Massachusetts) to 2011 (Sons and Daughters of WWII Veterans). The purpose of the HSC is very well expressed (see this page). Too, in April, the HSC helps to coordinate meetings of all of these groups in Washington, D.C.

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Virginia, 1607

Having recently spent some time delving into a few genealogical matters, the blogger sees how the relationship with history comes strongly to fore. As in, history is not a bunch of dry facts, nor is it only about the exploits of those who are written up on paper (or stone). There were several entrant avenues to this land. New England stands out for a variety of reasons.

For example, a group came into Maine early, overwintered, and actually built (from scratch) a sailing vessel that crossed the Atlantic a few times (see story of the Virginia). In many ways, that little colony's  venture was an incredible tale, yet it is not well-known.

Note: 'scratch' would need some discussion. No doubt, the sails, and other rigging, would have been brought over with the group. Too, tools would have been brought over, as well as necessary material, such as tar. Yet, building the vessel was not an easy task. Of course, by 100 years later, ship-building was an established industry in the region.

---

The HSC has a national focus, unlike the NEHGS (New England Historic Genealogical society) and other regional groups. However, these groups have a common goal of continuing education, and sponsoring research, related to what makes America what is it (which ties to the efforts of people and their families). Too, that 'America' is the one which has become (note: did not say 'was') a shining beacon (nod to Winthrop) to the world.

So, the HSC, et al, very much intersect with the interests of the blogger.

Remarks:

04/15/2012 -- Today's edit took a different format since it clarifies a misconception and affords the opportunity to discuss important issues (on-going). Some of the earlier content remains while much was added. The original post was in August of last year and was incomplete, as is much of the stuff found on the web. This blog, though, has always tried to stay coherent, given the problems with completeness (discussion pending under the guise of computability). 

Modified: 04/15/2012

Accounting's failure

As we watch the markets bounce (volatility is up) around, some might think that it's possible to get a handle on this thing. Why?

Well, there are long periods with little volatility in which the trend has usually been up. Yet, not always, as we can have sideways movement. The chart covers 70 years of the DOW.

The blue line is the overall trend line from 1939 to yesterday. As such, it has little variability due to assumptions (note, accounting is full of special rules and assumptions that then imply choices -- it's not mathematics, folks), since it is a mere straight-line fit (however, all the largess of late is very visible).

Now, those with a certain view like this line. In fact, viewpoints that talk a 30K DOW use this line as their basis for argument. This viewpoint might argue that it has a lot of history behind it, but, as well, we need to consider what has happened the past 30 years that has influenced the rise (inflation, general economic growth, foreign investors, ..., largess).

---

In fact, we have a whole generation or two of financial planners who believe this line. Look at the FED's goals. They love equity, even though their moves sack the savers and those who are retired (QEs, low rate, other bits of largess - will they ever end?).

Now, consider the green line. It is as if weighting out extraneous issues, such as those related to the recent bubbles, would allow for a better fit. What it shows is that we ought to be hovering around 9K or so. How could that be?

---

One fact is that it would not be easy to see this happen given all of the loose money floating around. Or, to where would the money go?

---

One means for control is suspect from the beginning. Remember all of the arguments about accounting and special rules that you heard a couple of years ago? One of the more controversial (but correct) rules was relaxed, by order of Congress; hence, the surge of the DOW the past couple of years. Add to that the largess of the FED as a big factor.

Well, a recent report talks about an even worse problem (Pentagon can't put their thumb on trillions). The truth is that no one can do an accurate accounting (to be discussed) of any of these financial things in our modern, complex economic world. It's about time that we recognized that and took the proper action.

---

There are several things involved. Just like some European countries are restricting use of 'short' positions, we need to put a damper on derivatives, except for a playground where we can let these 'children' play to their hearts content.

Warren may call these things WMD, but he's making money on them, too. Warren, my challenge to you would be to put you money where your mouth is. Help me show how this whole bunch of supposed advanced techniques are bad, will always be, and need serious control. Too, take the vow of no derivatives (or only those of a type that can be shown to have necessity).

---

Analog: taking the vow of not being an idiot and texting (or anything of that ilk) while driving.

---

Secondly, we need to stop the markets every day and take an accounting. How would this look? Well, anyone know? I propose that we look at it seriously. You know, it'll go against the grain as the big money wants their 'black pools' and other questionable tools.

Thirdly, we will tame the stochastic beasts rather than en-flame them in an attempt for non-chaotic progress.

---

The goal is a sustainable economy. Too, moderation of the ca-pital-sino. All of this bears, and will get, more attention.

---

Finally, why pick on accounting as this problem is larger than that discipline? Well, you guys and gals, have you not been implicated in every bit of mischief that has come down the pike? Or, at least, has not one of your kind been involved?

Has there been a successful establishment of ethical practices? If so, let me know where I can see this. From where I sit, computation has just increased the avenues toward perdition. This is outside of your domain? True. Hey, IEs! What are you doing in this regard?

Remarks:

08/15/2011 -- Let's give Warren some credit.

Modified: 08/24/2011

Economics and fairness

How many think that deals ought to be fair? Who is going to see that this is so?

---

What if playing on the edge never has consequences for those who are doing the playing? Of course, someone pays; that's the nature of near-zero.

---

In a case that's been going on from some time, the prosecution (elected and appointed) could not make anything stick to what seemed to be obvious shenanigans. Then, the accused, after being left off, pursued a claim that resulted in an eight-figure payout (for himself).

The news sources report that customers won't pay; no, it's coming out of monies set aside by the stock holders; yet, we know that the buck always goes down those who have the least power and the most to lose.

---

Message here. How did this state of affairs come about? That is, how would we explain the idiocy to old Rip? The main oops: ah, that old siren of 'markets' and their seductiveness.

Necessary, yes. But, from a long view (we can give Warren that).

All the gaming (including shorts, derivatives, etc.) is not necessary; in fact, it's the chief culprit of our troubles.

---

The chief enablers have been mis-used mathematics and computation.

Remarks:

10/10/2011 -- With the successful message coming out of the protests about Wall Street, evidently the number who cares is large.

08/12/2011 -- What about better 'accounting' of all this?

08/10/2011 -- One might ask: economics and legitimacy - weird stock market. Removes all arguments for the legitimacy/sustainability of this financial mechanism; that is, how ought this be done in a civilized, sane manner?

Modified: 10/10/2011

Rip Van Winkle I

We looked at this a couple of years ago under a different context, but let's do it again with a new view. And, let's do a series.

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Motivation: USA Today's Editorial dealt with the reaction by some bankers to the requirement to raise capital levels. See Remarks, this date, on Chimera, again. Of course, Jamie is a central figure.

---

Before we said, what if one woke up after 30 years? Part of that had to do with the major changes that happened with the Carter to Reagan transition. It is not outrageous to start there in order to look at what is behind the current messes.

To wit: the bosses are making oodles, after the downturn, while the rest of the people are losing. ... A very long list.

Are these people a special breed? In McCullough's latest book about American visiting Paris in the early 19th century, he describes some early surgeries that were witnessed by those who went to France in order to obtain more hands-on experience. Sure enough, they got that.

---

Picture this: Being operated on by a maniac (who has no regard for your health -- rather, he's into some ego trip), without any anesthesia, and in septic circumstances (including the milieu, the instruments, ..., all of it). And, the maniac takes some superior stance toward you, as if he were better.

One example given was of an old man who had some mass that the surgeon wanted to remove. Remember, these people wielded scalpels, thought that they were artists, and carved at will (pity the poor suckers, subjected to a fate worse than the martyrs (such as Richard Woodman, and many others)). Of course, the old guy died within an hour. The conveyor of the story (Oliver) remarked that the gent may have lived five to six more years if he had not been used for a 'live' and conscious experiment.

---

Oh wait! Bring yourself forward 200 years, is it any different in some cases? Yes, you have the anti-septic effort, you can get drugged to the max (not necessarily effectively), plus there has been better training (or so, we hope). Yet, is there not ego involved?

---

Well, medicine is only mentioned, right now, as an analog. However, please read this article in the Atlantic. It turns several directions but is right on target with the message. We'll discuss it later.

---

Change the doctor to CEO and what have you? Ego, not caring beyond the pocket (some call this greed), and a whole slew of other attributes that do not contribute to a sustainable economy.

One has to ask, were there any lessons learned (from two years ago)?

Somehow it seems to me, that Washington Irving's theme has some use here. Perhaps, it's that I've spent a lot of time the past couple of years looking at early American History.

As we just celebrated, people came here for freedom, for the most part, of several types. The early patriots suffered to bring about what we know as the United States. In the beginning, we did not have an aristocracy.

Based upon the attitudes of some, one wonders if we are not creating such a thing. The CEOs strutting around seem to have developed this virtually-founded little world in which they reign (without any restraint -- where is our Magna Carta?) seemingly without even any geographic constraint. We know that there are little political and legal constraints (given some of the decisions, of late, from the Supreme Court).

---

Of course, Big Ben deserves some mention, to boot, as he operated on us and our economy, without proper preparation (experimentation on the fly). No, he carved out the savings from the old-timers, for one thing, so that he could line the pockets of whining banks (who were bailed out, and then these people turned around and spit on us).

Then, we have people who were raked in as they believed in us (have you all forgotten?).

As said before:

• Folks, remember Ireland (When Irish Eyes Are Crying) and many other countries that bought into what the idiots were selling? Jamie just wants to get back upon that leveraging wagon which rolled down the slope to the crash. Why? Big bonuses (why is it that such chicanery deserves pay? Jamie, play for free!).
• Reminder: when things fell apart, the bankers, knowing that they're all crooks and not trusting each other, took their ball home. Said: we're not going to play. Have they yet? What context? They're sitting on money that we gave them. For the past two years, how has main street benefited? No, they want to know that their big bonuses will continue.

---

Theme will be continued.

Remarks:

01/15/2015 -- The experience is like being a parent whose kids are behaving. Then, you take a brief nap and wake to find that the inmates are running amok. Okay, we are all adults, responsible for our lives. We all expect adult behavior of other adults. The kids? Well, we hope that someone is watching. ... Now, in the Wall Street paradigm, there are no adults (putting greedy older people into the lot of uneducated minors - not knowing better - sheesh). So, old Rip, here, thought that there was some semblance of order in the economy - erroneously, it turns out. That the inmates trashed our lives is still obvious all around (except for those bailed out or for those who are friends of the Fed). ... No adults on Wall Street? Look, I have been there. If there is some mature mind in that vicinity, please stand up and let yourself be known (no Mr. Wonderfuls, please).

01/15/2015 -- At last, a series that will establish the basis and extensions, as required. We are going to go back to some simple and come forward to the modern, complicated economy. Why? My long chain of ancestors (inherited via Prof. Lucio Arteaga) is one motivation.

07/06/2012 -- Today, we have the one-year remembrance of George Edward Kimball III (GEK III). 

06/25/2012 -- Washington Post on Congressional non-ethics. 

05/29/2012 -- Jamie's bank in the news, again.

03/23/2012 -- Ben is doing a series of four lectures on his, and the FED's, role.

10/07/2011 -- Magna Carta, the celebration thereof.

07/12/2011 -- We need to do a constructive build.

Modified: 01/15/2015

Not back III

We know delivery time is approaching, but we're not watching. However, the theme is good enough for being repeated (we're gone, not back I, not back II).

---

Believe it or not, we did not copy from this site. That is, notice the blogger saying: We are done. That post was dated 4/15/2009. I did reference the blog from a post on Hedge Funds that was dated 1/29/2009.

Recently, there was an update of 'hedge' funding at FEDaerated which referenced old posts. I was reading them today which is probably a good idea for a blogger, though tedious (not necessarily, as if done right, posts build a story).

---

I need to find another blog on hedge funds, which are idiocy from several angles. That those in power like these things does not make them right. If people knew how much they stink, there would be an outcry.

---

That little tirade, above, is well-founded, folks. Too, note that it DOES not say not to hedge (in reasonable fashion).

Anyway, the focus will continue to be on those gamers who use our money system for their sand box.

Remarks:

09/16/2013 -- So, the five year retrospective time. Business week devotes a whole issue. It will be interesting to read all of the perspectives, WSJ, FT, etc. We will have to say some things about Raytheon's push out of Hawker and its subsequent bankruptcy. Like Spirit's split from Boeing, wishful thinking on the part of management and the company led to problematic results (for a lot of people).

07/15/2013 -- A fire late last week bring an opportunity to see what goes into determining whether to do composite repair or to undergo a section replacement.

05/15/2012 -- Except for retrospective looks, as necessary.

04/07/2012 -- Flightblogger ends, as least, Jon's watch. Some issues raised five years ago are still apropos. The context may have changed a little, yet, perhaps now is time to re-address the themes which are beyond aviation, only one of a whole bunch of domains.

07/06/2011 -- It's been a month. The chimera is. The sandbox needs to be.

Modified: 09/16/2013

Leverage, again

We went on before about leverage, which tranching leads to: 7oops7, Truth engineering, FED-aerated.

So, QE3? Sheesh. See The Daily Ticker (about 3:30 into the video). How many Americans are pointing fingers at the Greeks?

Leveraging: something from nothing, folks. The eternal, fruitless wish. Oh yes, it can work when there is a cadre of suckers to exploit (like, out-housing).

Where is the 'mature' capitalism being developed? We'll have to get back to exploring the real basis so overlooked in the interest of the best-and-brightest.

Remarks:

06/01/2011 -- In the writeup accompanying the above video, there is a brief discussion of 30-1 leverage giving people some pause. Only idiots ran after that as a good idea. Big Ben has, in his books, a leverage of 51-1. Very smart, big guy. In the trashy tranche post, I used an example of $7 find $93 so that we could have $100. Big Ben's status is $2 finding $98 (whatever, it's absurd to any but the mind of the best-and-brightest).

Modified: 06/01/2011