Wednesday, March 06, 2013
You have 2 cows.
You feel compelled to give one to your neighbor.
You have 2 cows.
The State takes both and gives you some milk.
You have 2 cows.
The State takes both and sells you some milk.
You have 2 cows.
The State takes both, shoots one, milks the other and then throws the milk away.
You have two cows.
You sell one and buy a bull.
Your herd multiplies, and the economy grows.
You sell them and retire on the income.
You have two cows.
You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows.
The milk rights of the six cows are transferred via an intermediary to a Cayman Island Company secretly owned by the majority shareholder who sells the rights to all seven cows back to your listed company.
The annual report says the company owns eight cows, with an option on one more.
AN AMERICAN CORPORATION
You have two cows.
You sell one, and force the other to produce the milk of four cows.
Later, you hire a consultant to analyze why the cow has dropped dead.
A FRENCH CORPORATION
You have two cows.
You go on strike, organize a riot, and block the roads, because you want three cows.
AN ITALIAN CORPORATION
You have two cows, but you don’t know where they are.
You decide to have lunch.
A SWISS CORPORATION
You have 5,000 cows. None of them belong to you.
You charge the owners for storing them.
A CHINESE CORPORATION
You have two cows.
You have 300 people milking them.
You claim that you have full employment and high bovine productivity.
You arrest the newsman who reported the real situation.
AN INDIAN CORPORATION
You have two cows.
You worship them.
A BRITISH CORPORATION
You have two cows.
Both are mad.
AN IRAQI CORPORATION
Everyone thinks you have lots of cows.
You tell them that you have none.
Nobody believes you, so they bomb the crap out of you and invade your country.
You still have no cows but at least you are now a Democracy.
AN AUSTRALIAN CORPORATION
You have two cows.
Business seems pretty good.
You close the office and go for a few beers to celebrate.
A NEW ZEALAND CORPORATION
You have two cows.
The one on the left looks very attractive.
A CANADIAN CORPORATION
You have two cows.
They are indistinguishable from American cows.
You describe with typical Canadian modesty how much better yours are.
A GREEK CORPORATION
You have two cows borrowed from French and German banks.
You eat both of them.
The banks call to collect their milk, but you cannot deliver so you call the IMF.
The IMF loans you two cows.
You eat both of them.
The banks and the IMF call to collect their cows/milk.
You are out getting a haircut…
Tuesday, March 05, 2013
On the outside, where we can pursue our own interests and share what we learn as we go, theories can be test driven, stats can be crowd-sourced and analyses can be debated in virtually real time. The Mostly Symbiotic Media can’t touch that. They are left with arguing from authority.
I am waiting for one brave newspaper chain to attack the climate change cabal. The Intensely Political Climate Catastrophists of the IPCC use arguments and tactics that would get business leaders thrown in jail but which seem to get a free pass when used in the service of "saving" the planet.
One simple example: we hear about the corrupting influence of oil money as it applies to so-called "climate deniers" but where is the investigative reporter who shows how much money is sloshing around the alarmist community, and asking what the impact might be?
In another example, sports journalism in hockey is in danger of being left behind by advanced statistics regarding player performance in various on-ice situations. The stats guys (here is just one example) are outside the mainstream and their work is dismissed as irrelevant, yet the patterns that these analysts identify are relevant and persistent from season to season.
Friday, March 01, 2013
In the long run, an ounce of gold has on average been the same as the cost of a really good suit of clothes.
In the short run, the madness of crowds sends the price of gold gyrating compared to other commodities. The chart below goes crazy around the time the US decoupled its currency from the gold standard in 1971 but the increasing volatility also coincides with various new forms of leveraged speculation in both wheat and gold.
You can't get rich buying insurance, but you may be able to avoid getting poor when the event you are insuring against actually happens.
And if you are buying insurance, why not buy it when it is on sale? Central Fund of Canada trades with the symbol CEF.A. All that CEF.A holds is a few billion dollars worth of gold and silver. When everyone wants gold and silver, there is a premium to buy CEF.A, often between 5 and 9% of the value of the bullion in the fund. Last night, the premium was 0.0%. Yesterday's figure can be found by scrolling down to Premium/-Discount at this link, which is live, so whenever you are reading this you are seeing last night's figures, not Feb 28 2013.
This is not investment advice, just an observation of a published fact.
Sunday, February 03, 2013
Today's question: Is Progress Real? And of course, one must first decide "What is progress?"
The Durants define progress as "the increasing control of the environment by life" and then narrow it to the individual by asking whether the average man has increased the ability to control the conditions of his life.
We may be more comfortable than ever, live longer than ever, travel further than ever. And yet, and yet...who here is going to say we have greater control than ever?
I think we are more dependent and more naive than our parents. That's not progress.
Monday, January 28, 2013
Their short and charming publication "The Lessons of History" extracts lessons and insights from their lifelong research and presents them in highly readable essays.
A few sample chapter titles:
- History and the Earth
- Morals and History
- Character and History
- Economics and History
- Socialism and History
- Government and History
- Growth and Decay
We conclude that the concentration of wealth is natural and inevitable, and is periodically alleviated by violent or peaceable partial redistribution. In this view all economic history is the slow heartbeat of the social organism, a vast systole and diastole of concentrating wealth and compulsive recirculation.That rings true.
Sunday, January 27, 2013
The red line is the average temperature by year, in the US.
The black dots are atmospheric CO2 concentrations since 1895.
It's been hot. It's been cold. It's been mild, in between.
Question 1: what's the trend? (please explain why you picked the starting point that you picked)
Question 2: does it look to you that CO2 levels are driving temperature up?
Question 3: does it look to you that CO2 levels are creating more temperature extremes?
Saturday, June 23, 2012
Sunday, April 29, 2012
Monday, April 02, 2012
Undaunted, I present you with this from China.
Europe is an important customer of China. Europe is unhealthy.
China turns Australian and Canadian coal and iron ore into goods that it sells globally. I can't look at the chart above and think that it portends increasing demand and rising commodity prices.
Thursday, March 15, 2012
Tuesday, March 13, 2012
Sunday, March 04, 2012
The result? Better mental health, better relationships at the table. What a great game.
Thursday, March 01, 2012
Friday, February 24, 2012
Thursday, February 23, 2012
I know you are in trouble and want China to help. I have heard your repeated calls in the media for our leaders to bail you out by buying the debt of European governments. I want to assure you your entreaties have not been in vain.
Last week our premier pledged that China will "get more deeply involved" in resolving your debt crisis. Our central bank governor tried to buoy up market confidence in the euro by vowing to continue holding your sovereign debts. Such comments came even as the international rating agencies - Moody's, Standard & Poor's and Fitch Ratings - cut their ratings for your nations because of the weakening prospects for an overhaul in Europe.
We want you to know that we are your friend in your time of need.
In fact, the ever-expanding trade ties between China and the European Union have brought us closer together. China is now the EU's top trade partner, and vice versa. So a collapse of the eurozone would also hurt China's interests. The International Monetary Fund has warned that a deepening EU debt crisis could slash China's economic growth in half this year. So we are both in the same boat.
But that does not mean you should take China's help lightly.
Yes, China has the money. Its stockpile of foreign currency, valued at nearly $3.2 trillion, is the world's largest. Yet this has been amassed over three decades of trade and built up from razor-thin profits. We are at the low end of the global value chain and we have to sweat and toil for every penny we earn. China has to export more than 800 million shirts to buy one Airbus A380.To be frank, some of us don't understand why the rich are holding out their hands to the poor and asking for money. For common Chinese people, the wealth of your nations is unimaginable. The average monthly income of your citizens - at around $4,000 in countries such as Germany and Belgium - is 12 times that of the average Chinese citizen. The Chinese workers in the factories in coastal cities have to work 12 hours or longer each day with basically no days off, while workers in France enjoy two months of paid vacation, national holidays and regional festivals each year. If we can save 50 percent of our earnings, surely it should be possible for you to save just 1 percent of yours.
The cause of the crisis is simple: You have spent more than you earned. If we are injecting our hard-earned money into Greek, Irish, Portuguese or Italian government bonds, you should show the political resolve to clean up your own backyard. You have to stop bickering and dragging your feet over the urgently needed austerity measures. It is time to roll up your sleeves and get the job done.
And while I know that any investment has risks, I hope you will try to ensure our money does not evaporate. We have already been snared in a "dollar trap". You are not legally obliged to ensure our investment safety. But surely you don't want to be seen as luring China into a "euro trap". We have suffered huge losses from holding US Treasury bonds because of the unrestrained printing of the greenback. As Nobel Prize-winning economist Paul Krugman has pointed out, the dollar depreciation will result in losses of up to 20-30 percent of China's investment in US bonds. That's the reason we have sought to divert our investment in a basket of currencies other than the US dollar.
Perhaps now that China has shown its goodwill toward you with its chivalrous purchasing of European debts, we can expect some demonstration of goodwill from you. I think you should recognize China's market economy status as soon as possible. After all it is of no substantial significance. China is going to get the status anyway in a few years' time according to the World Trade Organization rules. Good relations are all about reciprocity.
I hope everything goes fine with you.
The author is a senior writer with China Daily.
Saturday, February 11, 2012
Oh, and you are not particularly computer-savvy and aren't likely to become any more savvy in the near future. And you use Thunderbird because it's smart, so you don't have to be.
Before this gets too autobiographical, let's cut to the chase. You have choices in how you receive your email and what happens to it after you receive it. You can make or change those choices right now on any computer that can access your email.
Scenario #1: One main machine gets and keeps all the email even if you read it first on another machine.
This is the one that I like. I want everything downloaded to my desktop. If I read it first on another machine, I still want to be able to read it on my desktop, without sending it from the laptop. Go into your email Account Settings/Server Settings on the desktop and set them to POP3. And Uncheck the box that says to save messages on the server for up to 14 days.
What happens as a result? Any message that you read on your desktop is downloaded onto it and removed from the email server. If a minute later you signed on with your laptop, there would be no messages to read.
Now go into the Account Settings/Server Settings on your laptop and set it to POP3 and Check the box that says to save messages on the server for up to 14 days, or whatever. Now, if you check email on that laptop, you have 14 days to check again on the desktop and get those same messages and store them where you want them. POP stands for Post Office Protocol. It works like this:
And you should never get a "mailbox full" error message, even if your friends send you those huge cloying powerpoint shows with the new age music and sunsets over camel caravans.
Scenario #2: you never know where you are going to be and you want all your email available to all your machines all the time.
The email provider's POP3 server is not for you. You want to be using their IMAP server, which you get to select in Account Settings/Server Settings. IMAP servers don't fully transfer anything to your laptop or your desktop or your mobile, they just leave all the files on the IMAP server and let you read copies, create folders and organize stuff, up to the limits of your email account. Sooner or later you will run out of room and have to get files off the IMAP server and onto some local storage. But as long as you are within the storage limits that you paid for with your email provider, the IMAP approach will be the best fit for you. IMAP stands for Internet Messaging Access Protocol. Here is how IMAP works:
Scenario #3: you have multiple email accounts, multiple machines and a need for everything all the time, everywhere.
You could forward some of your email accounts to gmail and use it with POP3 or IMAP, depending on your preferences. But your responses to the emails would go out from your gmail account, which you might not want. So then you need a service like Easy-Email which for a modest fee will handle all this stuff according to your specific instructions, regardless of how many computers and email accounts you are burdened with.
Saturday, February 04, 2012
Thursday, February 02, 2012
North American prices for natural gas are getting hammered. Copper, by comparison, is holding up well. Here is a chart of the ratio of Natural Gas Price to Copper Price, covering the last 3 years.
Copper price is a global indicator of economic conditions. Its current strength indicates that global demand remains firm. Natural gas prices are more regional; North American gas prices reflect the new shale gas supplies and a shortage of LNG export facilities. Recall that just 4 years ago, LNG was going to be imported to North America, not exported from North America. That Peak Oil theory has some more waiting to do, perhaps...
Despite the low prices of gas, it is still not cheap to buy the shares of natural gas producers. Here is a chart of Altagas, formerly a Canadian Energy Trust.
What's the message from all this? Hell if I know, I am no investment guru. But gas prices are going to have to go up, sooner or later. And the shares already reflect that. Plus, supplies are being held back because it's not worth producing them. Next, exploration slows down. Eventually prices will rebound. Then the commodity pricing cycle repeats.
PS: Aren't Metals.com and Stockcharts.com amazing?
Thursday, January 26, 2012
Here is a common question on the Internet:
"How do I delete old shipping addresses from PayPal?"
Answer: You can't. You can spend hours trying to figure out how.
Then call PayPal, and once you get through to a human being, THEY can delete old addresses, but you can't. Seriously.
You can add addresses. You can't delete them. And every stale address that stays there has a chance to be used by mistake when something gets shipped. Everyone that you have ever sent anything to is listed right there, perhaps to your present dismay or embarrassment.
It gets better, at least, it gets more intense. If you link PayPal with its parent company eBay, all those people and addresses from your past show up as eBay shipping addresses too.
And no, there is no delete button that you can depend on.
Tuesday, January 24, 2012
Monday, January 23, 2012
Saturday, January 21, 2012
The inevitable result is a loss in the purchasing power of the money of the realm. Inflation.
Every consumer, individual or corporate, would like to have more money at his disposal than he currently possesses. There are three ways to do this besides earning it: beg, borrow or steal. Setting aside begging and stealing, we can focus on borrowing. A wise man once observed that "every loan is paid, usually by the borrower and the rest of the time by the lender." (If that wise man had been cynical he would have added "or the taxpayers of future generations").
When money is loaned into existence, everyone feels richer. The lender expects to get repaid with interest, and counts his loan as an asset. The borrower has the use of more money than before, and spends the money to satisfy his needs.
But when loans can not be repaid, that sense of wealth is replaced by something approaching despair. And the money supply (by many definitions) can be seen has having shrunk. Remaining money rises in purchasing power. Deflation.
Let's look at how this translates to real life in 2012. In the US, home prices have tripled from the mid 1990s to 2007, then dropped to merely double their 1996 levels. The function of housing did not triple in value, just the price.
The US Dollar held its value as measured by the USD index, so in terms of one paper currency vs another, nothing much has happened. But if you had sold your house in 1996 and taken the cash and buried it, you would have lost 2/3 of your purchasing power 11 years later. Inflation. Had you been smart enough to sell your house in 2007 and buried the cash, you would have gained 50% in housing-related purchasing power. Deflation.
Real economists will protest, if they get this far, that I have grossly oversimplified how money works. I agree. The point I am striving to make is that things we borrow money to acquire rise in price if money is easy to borrow, and drop in price if money is hard to borrow. The value (utility) of those things does not change, just the price. From the perspective of money, a dollar is worth more after deflation than after inflation.
What about things that we do NOT beg, borrow or steal to acquire? If you need a loan to put food on your table, you are in trouble (and you are probably not reading this, nor do you need me to tell you that you are in trouble). Things we buy with cash rise in price when currency is debased. "What this country needs is a good 5 cent cigar" is a familiar phrase first heard in the 1870s. Cigars are consumables, and their intrinsic value doesn't change much. But their price does.
What does all this mean in 2012? Deflation AND Inflation.
- Expect a continued drop in the price of things that people borrow money to buy, because credit has had its bubble and is collapsing
- Expect a continued rise in the price of things that people pay for with cash, because the value of cash has been debased for decades and is still being debased
Thursday, January 19, 2012
When we examine the trade-off of time for money, we likely come to different conclusions at different stages of our lives. When I was starting out, it was "give me all the work you can." I had lots of time, not much money, and maximizing income was what work was all about.
Since then, life has taken interesting twists and turns, some of which were lucrative and some of which were damned expensive. I have lived lean, I have lived fat. Fat feels more comfortable.
As of a few days ago we have relocated to live on an island, with arcane rules for recycling (milk cartons can go in to a compost bin with dirty kleenex and coffee grounds, but glass jars must be spotless before they go into their recycling stream). I can see how someone living here all their lives would come to believe that scarcity requires rules, imposed by an outside authority. The west coast of North America seems to spawn zealots, more than willing to impose views that nature must be protected from mankind.
To a degree, this viewpoint has merits. People can be cruel, greedy and thoughtless. Free markets do not immediately punish these behaviours (but in the fullness of time what goes around comes around).
Today is the morning after a US decision to kick the can of Keystone Pipeline approval down the road. Opponents of the development, apparently unburdened by reference to any maps of existing pipelines, predicted dire consequences of adding a pipeline to the US landscape. "No big deal" implied Canadian politicians, and turned their attention to an alternative, the Gateway Pipeline that would take oil to the west coast for export.
There is no scarcity of oil. There is a scarcity of common-sense acceptance that oil leads to wealth that is essential to society, to education, health care, highways and arts programs.
There is no scarcity of technology, that makes the transportation of oil by pipeline a manageable risk. There is a scarcity of perspective that enables the general public to recognize that risk accompanies everything we do, including choosing to delay activities that create wealth.
There is an abundance of opinion, including this trivial blog posting. But there seems to be an abundance of entitlement amongst people who are both ill-informed and unelected, that their precious opinions must be respected, not just endured.
Social progress requires the freedom to express strong opinions on all sides of issues. From the resulting debate emerges an alternative that likely would not even have been considered otherwise. This is how we advance.
Pipeline opponents, you don't need Halfwise to tell you be strong in seeking safeguards. But while you are "safeguarding" the rest of us, keep the perspective of our abundantly active society. You are part of it and benefiting every day.
Friday, January 13, 2012
Everyone knows that Greece is in trouble financially. In many ways, the Greeks no longer rule their own country; a troika unelected by any Greek is in charge. The International Monetary Fund, the European Commission and the European Central Bank now hold the purse strings for the birthplace of democracy. Greece is not alone, of course, it just happens to be in the news. Italy's situation is similar.
Any rational investor would want to protect his capital during difficult times. You know, maybe buy some insurance (a credit default swap, or CDS). Naturally, every insurance policy has its fine print. Credit default swaps only pay off under certain forms of financial failure. You are insured only for certain hazards.
Here is where the cookie starts to crumble. According to the Institute for Individual Investors, there is a total of approximately €355 billion in outstanding Greek debt, with €100-140 billion held by the ECB, IMF, and EU (the Troika). This includes the €35-40 billion purchased by the ECB during 2011. The remaining €200 billion plus is held by banks, pension funds, and, increasingly, hedge funds. It all comes to a head in the next few weeks.
Those private holders are expected to take a €100 billion and change loss; the Troika’s holdings would be unaffected by the plans to resolve the debt crisis. That alone should raise eyebrows, but let's look more closely.
If certain Greek debt was expected to take a 50% write-down, it would be priced at 50% of face value. Instead, it is selling at a bit over 30% of face value. What gives? Let's quote directly from the IFII's free subscription Tycoon Report for January 13th:
...magnanimous private holders are expected to voluntarily take a 50% haircut. The plan under consideration is that for each €100 of debt tendered, €15 in cash would be received and €35 in long dated (as much as 30 or 40 years), low-interest Greek debt.I bolded the part that is the most dangerous part of the game. The report goes on to say:
Now if this plan was anywhere close to a reality, Greek debt would be trading near that 50% of face value mark, but it is not. It is trading around 32% of face value.
Additionally, if this voluntary plan goes into effect, it would not be a “credit event”. It is a non-event according to the determiner of such things (the International Swaps and Derivatives Association), because it is “voluntary” and not everyone is affected; remember the Troika would be exempt. That is important, because it would not trigger the insurance contracts on the bonds, known as credit default swaps (CDS). Without the insurance to make up the 50% of value that goes poof, losses will be very real.
However, if not enough private holders volunteer, then the deal falls apart and Greece will default for real. The CDS holders will be made whole because a default is a “credit event” and will affect everyone.
So hedge funds have been accumulating Greek debt with the specific intention of not volunteering their holdings. They are also buying CDS, which cost 8% of face value.
In other words, funds are paying €32 for Greek bonds that have a face value of €100, and paying €8 for insurance, resulting in a total cost of €40. When they withhold their bonds from the voluntary swap, Greece will be unable to roll its debt and will default. Then the CDS will trigger and they will receive €100 on an average investment of little more than €40. A tidy 150% profit before the end of March!
A Greek default will have huge ripple effects. It doesn’t even matter if Greece is forced to leave the Euro or it is allowed to stay -- a run on Italian and Spanish sovereign debt is sure to follow.So let's sum this up in layman's language.
The big money manipulation of the markets is going to cause a serious monetary and economic dislocation that could move Europe rapidly from mild recession to full on depression. The US stock market and economy are not on an insulated island; there will be a deleterious effect on both when the tsunami effect hits these shores.
- Greece owes money it won't pay back, to banks and countries that should never have lent it in the first place.
- Those banks and countries have replaced Greece's leadership to try to make sure they get their money back.
- Some private parties are buying the parts of the debt that are not controlled by the troika of replacement leaders.
- The private parties will try to arrange things to maximize their profit on the questionable debt.
- The way they are going about this threatens the global financial system.
Tuesday, January 10, 2012
The free books available electronically are another great feature. And a free software called Calibre works as an essential middle-man between the source of the book and the Kindle. Go to Calibre and download the version that works on your computer or portable device.
Now you can work with anything published in standard epub format.
Say you want one of the hundreds of excellent books and articles from the Ludwig von Mises Institute. Go to their site and track down what you want to read. Let's say it is Leonard Read's classic article I, Pencil, which is free of charge.
Click on it and download it into wherever your downloads go. Open Calibre, and click on the Add Books button. Browse to your Downloads folder, highlight the I, Pencil file and click the Open button. Calibre brings the article and its cover illustration into the Calibre Library on your computer. Then plug in your Kindle and click on the Send to Device button. Keep an eye on the little wheel at the bottom right of your screen...it takes a bit of time to squeeze the book through the wire.
Done. Now you can read the article for free. Plus you can use Calibre to manage the books on your device.
Monday, January 09, 2012
Coffee is an interesting beverage to brew. There are only a handful of variables:
- What kind of beans are we using?
- How coarsely are the beans ground?
- How consistent is the particle size of the ground beans?
- How pure is the water?
- What temperature is the water?
- Are we using a filter?
- If so, what kind? Paper or metal?
- How fast does the water flow through the beans into the pot?
Okay, maybe there are more variables than you might imagine.
Technivorm is a Dutch company specializing in coffee makers that (a) heat water to the right temperature (195 - 200F) and (b) have adjustments to restrict the flow of water through the filter. Most drip coffee makers fail at both of these.
We have one. It makes better coffee than our old drip maker. Better flavour, better to drink.
Saturday, May 28, 2011
Interesting device: it can hold 1500 books at a time, adding a new one is instantaneous, you can search for text, highlight and annotate, hell you can even check Facebook, which by the way looks better using the texty version of touch.facebook.com.
If I had bought the books on Kindle that I bought in paper, I would typically have saved a buck or 5 on them, plus delivery charges for the online purchases, if any. So there may be a cost savings over time.
But here's the thing: I can get thousands of books for free, books that I have always figured I should get around to reading...EM Forester, Joseph Conrad, Dickens...that are off copyright and there for the download. And since we have a house full of books with no shelf space for new ones, it's got some practical value in terms of clutter control, no small feature I must say.
I downloaded the complete works of Winston Churchill for free, only to find that it was not THAT Winston Churchill but a US author who writes of the days of Davey Crockett. So it turns out you can easily delete books from your device...just push the left side of the Kindle's square mouse device once inside the book in question. Easy peasy.
For the broader web experience, count me impressed in a Windows 2 for DOS sort of way. For the book experience, count me impressed period.
It's amazing, this device, for its stated purpose of enabling the acquisition of books from a huge list, for little or no money, from pretty much anywhere, and allowing the owner to read them on the run, in places where the brighter the light the better the experience, unlike my Panasonic Toughbook on which this is being typed.
The typing and web interfaces are not even Blackberry-simple, but the book buying and reading functionality and interfaces are completely streamlined and easy.
Buy one for what they are good for, and look past the clunkiness in what it wasn't really designed for. No regrets, and two thumbs up.
Thursday, May 26, 2011
So my first attempt involved a claw-like spike wrench at the pro shop. This tool dispenses with the two little tips and substitutes a medieval device that grabs the outside edges of your spikes. No luck.
My second attempt involved the pro shop's industrial strength spike remover. All I managed was to shred some rubber.
My third attempt involved some physics. I put my shoes into the freezer overnight in the hopes that the lower temperatures would both harden the rubber and loosen the grip of the threads.
So tonight I hauled out the electric drill and deepened the wrench holes, right into the plastic of the old spikes.
Finally the regular spike wrench had something to grip on, and after I wrapped its non-ergonomic handle in the finest of old golf towels and leaned on it, the shoes released their beloved spikes.
Kind of makes you wonder how the darn things fall out, given how hard it is to get them out when you want them out.
Monday, May 23, 2011
After reinstalling the battery I started going through the basement. The squeak was only every 5 minutes or so, so there was nothing that I could follow to the source. Every time I heard the squeak I tried to zero in on where it was, but it seemed to move around.
There's an old alarm system from a previous owner, which we have never fully decommissioned. I figured it must have been this thing, beginning to act up. So I removed the backup battery (the squeak still occurred), I disconnected the power supply (the squeak still occurred); I bypassed every zone in the alarm system (the squeak still occurred) and I put it all back together. The squeak still occurred.
Examine the various modems and routers. Nothing.
Up into the ceiling...listening. Sometimes it felt as if I was getting closer but it was never as if I was next to the source.
Turn off the power supply to every basement room. The squeak still occurred.
What did it turn out to be? Someone had given me a smoke detector that I did not feel the need to mount, so I put it in a bucket that also held a cleaning brush and other basement randomness, on the floor behind a door. Eventually the installed battery began to fail, causing a chirp (my first instinct was right!) The sound went straight up from the bucket, so you couldn't really pinpoint where it was coming from.
Now I miss the damn thing.
Saturday, April 02, 2011
If you buy the Platinum version it allows you to record all your stock buys and sells in a separate program called Stock Trade Tracker, or STT.
Every year I struggle to remember how to import the info from STT up into QuickTax, and I have just struggled to get it into TurboTax. But now I remember. I will write it here so I can find it next year...
It looks like it should be easy, but it is not.
First, if you are on the EasyStep screen that asks you for T5 information, don't try to use Stock Trade Tracker to provide it. STT does not produce T5 forms. Move along. The chance to enter Capital Gains and Losses comes later. Why does Turbotax even hint that STT is useful for T5s?
When you do eventually come to the Easy Step that looks for Capital Gains and losses, it will give you a screen that looks almost the same as the one asking for T5 info. But now, click on the link that opens STT. Then go to Reports and select Capital Gains. Then pick Last Year. Make sure it is what you want. For example, if you have TFSA trades in there, take them out. If you have RRSP trades in there, take them out.
Assuming it is the right info, go back to TurboTax and follow the instructions. It works fine.
What DOESN'T work fine is the glib assurance in the TurboTax help screens that the process is as easy as clicking one button. No, you have to work through several steps of opening STT and picking your report. Judging from the frustrated and unanswered comments in the margins, TurboTax has an opportunity, shall we say, for an improvement in customer service.
UPDATE Jan 30 2012
It appears that TurboTax has dropped STT entirely. For me this is a real pain, as the computer drive that held my old QuickTax applications has crashed. I have my backed up data files, but I was counting on another copy of STT on TurboTax 2011. Now I am going to hunt for the box with the old app disks in it, which is not the end of the world.
But I don't like their suggestion, as noted in the link above, to sum the amounts from your trades and import the total into TurboTax. I like to have the trades themselves, and in the event of an audit we can go through them all and see if anything was missed or double counted. Pffft.
Saturday, March 19, 2011
Monday, March 14, 2011
Sunday, March 13, 2011
Sunday, March 06, 2011
Historically over the centuries, the Gold:Silver ratio was 15:1. Gold was worth 15 times what silver was worth. Fifteen ounces of silver would buy one ounce of gold. The ratio broke out of this pattern in the late 1800s and was recently over 65.
Silver is seen as the more speculative of the two metals, and a rising appetite for silver has been interpreted as a greater appetite for risk. When markets fail, silver usually falls faster than gold, driving the ratio higher.
Monday morning in Asia, the ratio dropped below 40, with Gold at $1436 and Silver climbing over $36.25.
Check this link for the latest chart.
Sunday, February 20, 2011
There is more truth in this article than you will find in the entire self-help section of your book megastore. You, young lady, are not married for one or more of the following reasons:
- You're a bitch
- You're shallow
- You're a slut
- You're a liar
- You're selfish
- You're not good enough (in your own mind)
Saturday, January 29, 2011
Sunday, January 23, 2011
After mentioning a handful of mechanisms that would not be noticeable on human time scales (eg the sun is slowly brightening) the author rolls up his sleeves and gets into solar cycles, ocean oscillations and atmospheric and weather phenomena, along with descriptions of whether their feedback is positive (eg surface ice) or negative (eg clouds).
The comments are also excellent, serving to clarify and expand on Dr. Glickstein's posting.
When someone wrings his hands over CO2, one might hope that perspective such as this would be of comfort.
But have you noticed that news that implies disaster is not imminent, is not received with joy by the AGW community? A cynic might wonder whether the agenda is more important than the underlying reality.
Nah. Couldn't be.
Wednesday, January 05, 2011
Thursday, December 30, 2010
"Climate change is a complex, multi-year challenge for our region. It is a wake-up call to a system in decline"All I can say is
"I am enjoying the current interglacial period, which is overdue to end. Don't you think we are going to need all the warming we can get?"(By the way, note the effortless slide into Marxism implied in the BC position. If the science is settled, for something that hasn't actually happened yet, why is the policy response based on a philosophy which has been proven an utter failure?")