Some Ramblings & Thoughts
I’ve been very busy with a number of different things and have somewhat neglected 20smoney.com – hopefully the busyness will pass and I’ll be able to get to a more normal schedule of posting. In the meantime, I’m going to shift to a type of post where I discuss a number of things that I’ve been reading or thinking about. Here goes…
There are amazing events happening in the world. Egypt is a major story of interest with the changes happening there. I also read something incredible going on in the Netherlands. The government there is ordering a pension fund to sell a majority of its gold holdings. Simply amazing. You can read more here. We live in amazing times and definitely a world dominated by central banks that are trying to control the world.
Bernanke – Amazingly, this week Bernanke talked about how the drop in unemployment was encouraging. He was citing the drop from 9.8 to 9.0 in the unemployment rate. This is incredible, because we all know the rate dropped only because people are bailing from the work force because it’s so bad out there. The fact that he would actually talk about this as an encouraging development shows how stupid he thinks we all are. I was astonished that this happened.
QE3 – It’s pretty wild that there is already chatter starting about QE3. Guys, you do realize that if QE3 happpens, there is going to be some crazy consequences. Egypt is very much a consequence to some degree of the QE policies to date – namely in the form of global price increases in food. We are the reserve currency of the world. QE causes global inflation. There’s nothing more to debate. More QE as in QE3 will mean more Egypts and more price increases around the world. Craziness.
iPad – It’s being reported that we’re very close to a new iPad being put out. I’m a huge iPad fan and an owner. I love it. I don’t own any Apple stock. The time to buy was well over a year ago.
AOL / Huff Post – I love online business and new media, so the AOL acquisition of the Huffington Post was fascinating to me. First, AOL has no identity. They’re buying media companies like HuffPost but are dialing back their sports media FanHouse brand. Very interesting and very odd. Arianna Huffington reported put $2 million of her own money into the venture and apparently is getting paid out anywhere from $20-40 million in the sale. Not bad. Plus she’s making $4 million a year in salary at her new position at the new company. The Huff Post model is incredible. Free and cheap content built on a quality platform that encourages interaction. Traditional media is dying and in a few years, print newspapers will be extinct. They can’t compete with a model like that.