Saturday, July 03, 2010

In the News 2

Labor report another indication that economic recovery losing steam. "Government spending prevented the U.S. economy from tipping into a depression," ... "But beyond that, the government cannot, short of war, get private companies to increase hiring if they don't want to."

Government jobs produce little to nothing. Government jobs are of 2 sort - temporary, short-term, such as the census workers, or government contracts for everything from highways and bridges to nowhere. The second sort of job is more permanent, pointless, and usually overpaid, desk jockeys who administer and/or distribute information and/or funds, and pretend their existence is to benefit the rest of us. Again, however, producing nothing tangible other than their own paychecks and padded expense accounts. Example: I know a woman recently retired from a government job who for most of career earned a yearly $200,000 plus benefits to die for, but she was basically nothing more than a glorified secretary/file clerk with a title for the IRS. The "green" jobs will be such as this. Departments and contractors given billions in tax dollars to retrofit a few homes and buildings, build a few windmills, fund a few organic farmers. Any construction/farm jobs created will be temp but the government handlers of the department will be permanently ensconced, busily creating documents to justify the need for their existence. It's the nature of the beast.

Buffett donates $1.93bn in shares to charities. There's a big reason that wealthy people set up their own private foundations, often donating appreciated stock in their companies. They avoid paying capital-gains taxes on the value of the gift and get an immediate -- but potentially limited -- tax deduction. They also benefit because the invested assets of the foundation will continue to grow tax-free. That enhances their ability to give generously in the future." For as little as $10k you too can become your own charitable foundation. And appoint/employ your family, friends, and cronies as overseers of those $500 college scholarships, $100 dollar micro loans to third world women, and purchase vaccines from other buddies to eradicate polio, malaria, and diarrhea although such eradication endeavors will take eons. But god bless those few thousands peasants who benefit in anyway from charitable tax break foundation havens.

$400M boost for Colorado solar firm. President Barack Obama planned to announce the loan to Abound Solar during his weekly radio address Saturday. Abound is in the photovoltaic industry, planning to manufacture PV technology for solarizing commercial and industrial developers - shopping malls, factories, large office complexes, etc. Nearly 1/2 billion to a privately owned company that manufactured their first solar panel a few months ago. Abound says it plans to keep everything in-house while their competitors are outsourcing. China of course has its PV industries, as do former leaders in the PV field (Europe, Germany). Competitors, having stumbled and lost revenue and market shares in the past few years, claim future success is "commoditization and outsourcing of manufacturing ... believed to be a key development in the solar market." Companies also note it may be 2 decades until average folk are using made in China solar panels (unless you've more money than you know what to do with or $50,000 to retrofit your average crib), as the cost is still somewhat prohibitive for other than the mogul developers with unlimited investors and/or government contracts.

Some of the bigger PV companies plan on going into the "developing and financing end of it." You know, becoming real estate developers to raise a building, having their own finance company to make the loan to their own PV company who will then build the project using the products purchased with funds from their own lending institute. I see more ghost malls and empty office space in our future, and government housing projects with broken solar panels. Commoditization ... hmm you mean public, commodity, trading, stock market, Wall Street, shareholders ? Government handout disguised as warm fuzzy green saving the environment jobs? Reminds me of the Crédit Mobilier of America scandal.

Robert Byrd funeral. Hundreds of West Virginians, two presidents and dozens of family members and friends gathered. Hundreds? "His heart belonged to you," President Obama told the crowd of West Virginians. "Making life better here was his only agenda. Giving you hope, he said, was his greatest achievement." Well, if that didn't make Obama gag I don't know what would. Byrd was a proven bigot/racist well into his 60s - he didn't have a change of heart, he had to change political strategy. His constituency, one word, Appalachia.

Serena wins Wimbledon. And she didn't go ghetto on anyone. ("If I could, I swear to God I would take this f... ball and shove it down your f... throat and f... kill you ... ")

Albert Gore's Oregon massage. I told you years ago the only thing Al was good for was doorman. In a spiffy uniform and gloves.

Have a good July 4.

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