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Posts Tagged ‘Recovery’

How Much is This Recovery Going to Cost?

It’s crazy how many different things can be traded these days. There are futures contracts for just about everything, even the weather. In my days as a commodity broker, many moons ago, we even used to joke about putting on a tiger shrimp/powdered milk spread. (You could actually do this, were you so inclined. Or at least you could back then.)

But you know what would be really great to see? A futures contract that rises or falls with the reputation of central bankers.

Someone smart (like Robert Shiller) should create the “Federal Reserve Good Will Index,” to measure popular sentiment toward the Chairman of the Fed. Then the Chicago Mercantile Exchange could set up a contract that traded off it.

I wish they had done this years ago. If they had, I would have shorted the daylights out of Alan Greenspan futures contracts, right about the time Vice Chairman Alan Blinder referred to him as “The greatest central banker who ever lived.”

Talk about an unsustainable high! Since that day in 2005, Greenspan has gone from “Maestro” to “Master of Disaster” in the eyes of the world (for anyone keeping score that is).

And as for today, your editor would happily short the monetary witch doctor du jour, Federal Reserve Chairman Ben Bernanke, in large size too. What an excellent speculation that would be.

Bernanke 5,000

Like the Nasdaq of old in the days of the dot-com bubble, the Federal Reserve’s reputation has soared high in recent months. As the global financial crisis fades from investor memory, belief has been widespread that Ben Bernanke saved the day… that both America and the world were saved from disaster by the Fed’s decisive action and generous intervention.

Well. We’ll see how kindly history treats that judgment.

Remember Nasdaq 5,000? That was the magic number (5,408.62 if you want to be precise). When the Naz kissed that magical 5K level in March of 2000, soaring ever higher on gossamer dot-com wings, it turned out to be the kiss of death. A brutal 75% decline followed.

Your editor predicts that, were the Fed Chairman’s reputation linked to an index, we would soon be approaching “Bernanke 5,000,” in keeping with the Nasdaq of old. And also in due time, we will see a similar bone-crushing decline.

Bernanke’s reputation will take a brutal dive downward – and never fully recover – when it becomes clear, to even the most deaf, dumb and blind observer, that this recovery was purchased, via the Federal Reserve’s funny money trillions, at far, far too high a cost.

Cost? What Cost?

Of course, right now we have a situation that could be considered amusing… or tragic… or both. Many market investors and commentators aren’t even aware – so far – that this recovery even HAS a hidden cost.

All they see are the pretty economic data points creating an oh so pleasing medium uptrend. Rampant stimulus? Out-of-control fiat money creation? Pshaw. They think all this came about for free!

Take Maria “Money Honey” Bartiromo for example. Ms. Bartiromo has been a CNBC financial reporter since 1993. She has written books, hosted World Economic Forums, reported “live on the scene” in countless exchange floor experiences, and ridden in private jets with the Wall Street glitterati.

And yet, for all that, she seems absolutely clueless as to what is actually happening.

Sound too harsh? The evidence is caught on videotape. In a Yahoo Tech Ticker interview, Bartiromo said the following:

“There’s nothing wrong with a boom bust economy. What’s wrong with a boom bust economy? Things are booming and then you get a bust and that opens the door for wealth creation.”

Nothing wrong with a… the mind boggles. Nothing wrong with trillions of dollars in wealth and savings, vaporized overnight by a bunch of greedy banksters? Nothing wrong with America in financial turmoil? Nothing wrong with 20% unemployment and underemployment? Nothing wrong with American small business – the backbone of the country – gasping for air like caught fish flopping around in the bottom of the boat, while the main perpetrators of the crisis are rewarded with risk-free billions in new profits? Nothing wrong with trashing the rule of law and descending into financial oligarchy?

Pardon my French, but Ms. Bartiromo has no idea – none – what the hell is actually going on. As Bill Bonner once quipped in Financial Reckoning Day, she is like a squirrel watching a bank robbery. She and legions like her – who represent the financial establishment! – have zero grasp of Austrian economics, which warns very plainly that these “harmless” booms and busts, brought on by government massaging of the credit cycle, lead to outright fiscal disaster. Wealth creation? Try wealth DESTRUCTION, on a vast and epic scale.

The CAT Example

The problem with the financial establishment – and it is only one of many – is a sort of willful myopia. These people put on their blinders and green eye shades and fixate with intensity on earnings and indicators and managed data points… all the things that they want to see. Anything that they don’t want to see or hear, they ignore. “A man hears what he wants to hear and disregards the rest,” as Simon & Garfunkel once sang.

Take the recent earnings report from Caterpillar (CAT:NYSE), a well-known maker of earth-moving equipment and other machinery. CAT reported an “improved outlook,” to much praise and good cheer from investors – along with a sharp price gap higher – even as its revenue declined 11% year on year.

(And somehow an 11% top-line decline, off the miserable crisis conditions of Q1 09 no less, counts as improved? Hmm.) Worse still:

• CAT’s machinery sales were down 1%
• North American machinery sales were down 15%
• Dealer inventories were half the previous year’s levels
• Engine sales were down 28%

Gee, that all sounds terrible. So why were investors cheering – and buying? Because Asia profits were up 40%, leading to a modest profit where last year saw a loss. That happy circumstance drove everything. The bad news on overall revenue decline… machinery and engine sales decline… utter North American malaise… all ignored.

It gets even more amusing. Those save-the-day profits CAT picked up in Asia? For a company that sells earth-moving equipment, how much of that strength might be linked to the fact that China is in the midst of a white-hot real estate and construction bubble? (Hmm, you think?)

Not only did CAT look awful everywhere except in Asia – where China has been bankrolling nutty construction projects like mad – the company actually conditioned its positive outlook on the presence of continued stimulus!

As the WSJ reported, “[CAT] raised it[s] outlook for 2010, though revenue declined on continued weakness in developed economies, especially the U.S. and Europe. It cited concerns about central banks withdrawing stimulus too soon.

A Cost We Cannot Bear

So there you have it. Caterpillar, one of the world’s premier industrial companies, shoots the moon on positive investor sentiment even as its business model clearly hinges on the kindness of central bankers.

“Please Mr. Bernanke, don’t stop the flood of free money – it’s all that’s keeping our USA lines from collapsing. Please Beijing, don’t stop building deserted shopping malls and empty skyscrapers and highways that no one will drive on. It’s the only thing making us look good. Yet our outlook has “improved”… as long as you keep it coming.”

The thing is, the torrential gusher of free money that has so buoyed us isn’t actually “free,” any more than the low-cost funds once happily borrowed by Greece were free.

The unprecedented stimulus – a “great macro liquidity experiment” the likes of which the world has never seen – comes with a horrible embedded cost… a potential price so high that the crisis “cure” could ultimately prove far worse than the disease.

The true cost may only be known, in fact, once the Federal Reserve has managed to inflate yet another money and credit bubble (to compliment the decade’s previous two). And once this third bubble pops, we could be left with an even bigger financial crisis to clean up… and no room on the balance sheet to spare.

A country without reasonable means of paying off its debts is only as solvent as the market judges it to be. At some point in future, thanks to the Greece precedent, the market may judge the USA technically insolvent – i.e. unable to pay its debts except by way of printing press, which is a form of default in disguise.

That is the frightening reality that the Maria Bartiromos of the world miss, even as the overlooked danger signs mount.

For all that we have sacrificed, there will not be nearly enough “bang for our buck” in the end, when expensively purchased recovery on the whole runs headlong into the brick wall of sovereign debt crisis. The looming costs of the stimulative printing press “solution” could prove too much for the West to bear.

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Justice Litle is editorial director for Taipan Publishing Group. He is also a regular contributor to Taipan Daily, a free investing and trading e-letter, and editor of Taipan’s Safe Haven Investor and research advisory service, Macro Trader.

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Military Lessons: The US Military in the Post-Vietnam Era (1999)

The Vietnam War called into question the US Army doctrine. Marine Corps General Victor H. Krulak heavily criticised Westmoreland’s attrition strategy, calling it “wasteful of American lives… with small likelihood of a successful outcome.” In addition, doubts surfaced about the ability of the military to train foreign forces. Between 1965 and 1975, the United States spent 1 billion on the war (6 billion in FY2008 dollars). This resulted in a large federal budget deficit. More than 3 million Americans served in the Vietnam War, some 1.5 million of whom actually saw combat in Vietnam. James E. Westheider wrote that “At the height of American involvement in 1968, for example, there were 543000 American military personnel in Vietnam, but only 80000 were considered combat troops.” Conscription in the United States had been controlled by the President since World War II, but ended in 1973.” By war’s end, 58220 American soldiers had been killed, more than 150000 had been wounded, and at least 21000 had been permanently disabled. According to Dale Kueter, “Sixty-one percent of those killed were age 21 or younger. Of those killed in combat, 86.3 percent were white, 12.5 percent were black and the remainder from other races.” The youngest American KIA in the war was PFC Dan Bullock, who had falsified his birth certificate and enlisted in the US Marines at age 14 and who was killed in combat at age 15. Approximately 830000 Vietnam veterans suffered symptoms of posttraumatic
Video Rating: 4 / 5

Question by : how does one get a letter to the president of the USA?
I am seeking some sort of pardon on a CDL revocation. I have been sober for 2 1/2 years and would help me get back to work as a journeyman line man thus being able to pay taxes. Seems you can commit murder, serve your sentence,and get back to being a contributing person in society faster than you can get your CDL. No fatalities, property damage,or liabilities.Chair person at two of five A.A. meetings. Could not work the power outages during the hurricanes or the storm work this spring in the East Coast this year

Best answer:

Answer by Wendy
Just write a letter and address it to:
President of the united states
White house, washington dc

Know better? Leave your own answer in the comments!

Pardon Us ( Gaol Birds ) ( Jailbirds ) [ NON-USA FORMAT, PAL, Reg.2 Import – France ]

Pardon Us ( Gaol Birds ) ( Jailbirds ) [ NON-USA FORMAT, PAL, Reg.2 Import - France ]

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Bob Dole says the issue of Ford’s pardon of Nixon isn’t any more relevant than past wars, for which he blames the Democrats.
Video Rating: 4 / 5

Breast Augmentation Recovery Experience ~ Almost a Year Later

Article by Terrye Tebbetts

It never ceases to amaze me how something so simple and something so often perceived as trivial and vane can produce such lovely enhancements (pardon the pun) to a patient’s life. I often find myself telling patients, when they are raving about their new breasts the day after surgery, to just wait and see – wait and tell me what they feel like and how they feel about their new additions at 3 months, 6 months and even later after your surgery date – – it really does just keep getting better and your breast implants begin to feel more like part of you as time goes by. Here’s a note I just got from a patient who is almost one year post op from her breast augmentation recovery in Dallas.


My husband and I want to just say hi to you and Dr. Tebbetts, let you know how extremely pleased we both are with my BA results, and to thank you again profusely. After my bout of chest rash cleared up this spring (which freaked me out there for a while) I’ve had no concerns and only joys with my BA results (surgery date was last November).

My breast augmentation results continue to amaze us! Dr. Tebbetts sized me PERFECTLY. Even though the implants were 240 cc (I think), I can’t imagine having any bigger breasts! I am extremely satisfied with them –they look perfect for me. Sometimes I feel a twinge of guilt about having them this big. They actually are big to me!

It’s incredible how my self consciousness about having been flat-chested has vanished–its amazing to me that that’s even possible after so many years of my chest drawing negative attention (believe me, that’s no exaggeration). It’s amazing just to feel normal, appear normal and BE normal, even in a bathing suit (especially in a bathing suit).

I have only informed my daughter, physician and one close friend about my BA. I am SOOOO glad I didn’t disclose to others, because no one’s been the wiser. But I think most people’s perception of appearance generally “adjusts” to a new norm. over time (or something like that). People seem to have “adjusted” to my appearance, without putting their finger on my BA. I am very glad for that–it had been a worry, turns out was needless. I could probably have gotten away without telling anyone except my doctor. I am not at all ashamed about having had plastic surgery. Its just that I am a modest person and this really is my own business that I wish to keep private — I’m so glad that has been truly possible, too.

I may be 51 now (gulp!) but I (thankfully) remain as active as ever with my new breasts, just like a natural part of me. They feel “incorporated”– truly my own!

At some point in the next year or so I hope to make a follow up appointment with you. We’d love to revisit breast augmentation Dallas surgeon Dr. Tebbetts, and I imagine it is gratifying to be able to observe your brilliant outcomes first hand. I remain extremely grateful to be among them.

About the Author: Terrye Tebbetts is one of the most knowledgeable women in the world about breast implants, with 27 years of experience educating patients and 11 years as a patient herself. For more information about breast implants or breast augmentation Dallas surgeons, please visit

How Can Asset Recovery Affect my Business?

Article by Derek Rogers

These days, virtually all businesses require the use of an effective computer system in order to operate effectively. And, no matter how excellent a particular computer may be, there comes a time when it needs to be replaced. Operating systems wear out, new innovations develop, and general wear and tear can truly degrade even the most excellent of systems. But, should you just throw the computer away? With the available help of an asset recovery service, you could extract data from the system and use it in the new computer system that you will be employing.Of course, there will be costs associated with such a venture and this leads some to wonder if asset recovery will affect a business in a positive manner. They wonder this because they may have concerns regarding whether or not the costs associated with such a venture make it worthwhile. Here is some news that will be of interest to these individuals: asset recovery can help a business tremendously and in a number of ways. As such, it is helpful to look towards such asset recovery services to extract needed info that can be employed to maintain the cohesiveness of the prior computer system. And it is usually done at a far less costly fee than people assume they will need to pay.Asset recovery can also help to eliminate the need to extract old information and then move it to remote storage locations. This kind of outdated operation can lead to significant problems in terms of cost and logistics. Old equipment not only must be stored but it also must be kept secure. Such costs really are not necessary because asset recovery could move the information into your new system quite effectively. And, in addition to the money you would save, you would eliminate a lot of the time and maintenance required to deal with the storage of the old information. Again, asset recovery is time and cost efficient which makes it worth exploring for any business.

In some cases, those circumventing asset recovery may have to have a computer system completely destroyed in order to maintain safety levels. This means there will be a need to pay for a computer disposal service for the main purpose of destroying recoverable material. Why should a business venture into territory such as this when it is thoroughly unnecessary and better alternatives exist? Work with an asset recovery service instead. It will help your business quite significantly.This does mean that you will need to take the right steps to hire the proper asset recovery professionals to handle the tasks. You will need those reliable professionals that can perform these tasks in the proper manner and effectively. A cursory examination of the experience of the professionals will yield an answer to such queries.Yes, asset recovery is most definitely helpful to a business and can prove to be – pardon the pun – an asset in itself. Businesses in need of upgrading a computer system should definitely look into asset recovery systems.

About the Author

Derek Rogers is a freelance writer who writes for a number of UK businesses. For information on Structured Cabling, he recommends Network 24.

Jay-Z’s “Public Service announcement” Remixed with Lil Wayne’s “Something you forgot” instrumental. Check it out…
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All You Need To Know About Stroke Recovery

how to apply for a pardon
by L D M

Article by John Hamilton

In any realm of life there are always ways to do things better and more efficiently. Also in any realm of life there are also dogmatic belief systems that keep things being done the same old way. Stroke recovery is one such area. While I do feel that most people in the industry of stroke rehabilitation are seeking to keep up with the latest research and apply the latest techniques, I still feel that a lot of patients are missing out on receiving the benefits of all the latest stroke recovery discoveries.

This can be for a number of reasons. Unfortunately changing mainstream beliefs is a very challenging thing to do. These beliefs are propagated in the media and discussed, and unfortunately they get cemented in people’s belief systems and are very hard to change. You can see this type of dogmatic thinking in the exercise and weight loss industry. This article will serve to dispel some of the usual stroke recovery myths. Firstly, the belief that the brain cannot change. This one belief really goes against the corner stone of the whole stroke recovery premise and it is totally wrong. Secondly and as a sort of carry on from the first myth, the myth that there is only a small window of opportunity to recovery from a stroke, I have heard anywhere from 6 weeks to 1 year and after that you cannot make any more progress. And lastly, that there are not more efficient ways to perform stroke rehabilitation.

I cannot believe that myth number one still gets any credence. Some people still feel that the brain is set in stone and cannot change. We see the brain changing all the time and at every age. Every time we learn something new, the brain has changed. For example for you to learn a new skill such as like playing tennis requires your brain to change. As you improve, your co-ordination gets better, your speed improves and your accuracy sharpens all this must be reflected by changes in your brain and nervous system. The brain controls everything, and when changes happen like the previously mentioned tennis ones, the brain must have changed. This myth has been dispelled by science and neurology and as a far as I am concerned is really, pardon the pun, a no brainer to argue against.

Another commonly held myth about stroke recovery is that recovery can only happen in a small time period after the stroke and once that window is closed any further recovery is impossible. As a carry on from the point above, that the brain can change at anytime, this is once again just a myth. I don’t discredit that making progress could be easier if stroke rehabilitation is started earlier but to say that it cannot be made after a magical window has closed is absurd. I have heard of some individuals 10 years after their stroke, who have been at a certain level of recovery and were then exposed to advanced stroke recovery methods and made more progress at that stage of their recovery than previously. The brain is capable of change at any time and if you are a stroke survivor and wanting more progress do not ever give up.

The last myth to discuss may not really be a myth as such but has more to do with the outdated and inefficient stroke recovery exercises that patients are given. The last 20 years has seen huge leaps forward in areas of brain research and subsequently stroke rehabilitation. The people at the top of stroke rehabilitation are doing some really ground breaking things. Unfortunately it takes time for this top end information to assimilate down to the masses, so as a consequence many stroke survivors do not get exposed to the best stroke recovery techniques like constraint induced therapy or mirror therapy.

Unfortunately there are many myths surrounding stroke recovery. I hope this article has helped to educate and open your mind up to the truth about your stroke rehabilitation and how you should be approaching it. At times stroke rehab can be a very daunting task, filled with too much science, jargon and technique that may be difficult to understand. I have made it my goal to try and make available the best stroke recovery techniques to stroke survivors, their family members, care givers and health care practitioners.

About the Author

For more expert advice on stroke recovery, go to author John Hamilton’s website which is all about the most efficient stroke exercises. John D. HamiltonHealth Professional, Stroke Rehabilitation Researcher and Author of “The Stroke Rehab Handbook”.

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Pivot Points in Recovery

define pardon
by lisby1

Article by Robert Pardon

The other day I heard a person in recovery use a term that I had heard before, but not in the context of recovering from addiction. The term was pivot point and it was the way it was used it that was intriguing to me. A pivot point can be defined as a turning point or place in one’s life when the direction or the course we are on is changed and that change leads to recovery. These times in the life of those addicted come and go from time to time and are usually accompanied by an emotional upheaval.

It could be as subtle as an argument that causes us to stop and think or more serious as losing one more job, the wife or husband leaving a note saying they have left, or the loss of a loved one. Whatever it is it varies from person to person and how each pivot point affects each person differently. One pivot point that moves one from their destructive path might not move the next person.

I had a friend whose family called me in for a drug intervention. We were able to get him into a drug treatment center. He lasted for a few weeks and then he left. He ended up backing up over his 18-month daughter and nearly killed her. That is what I call an opportunity for a pivot point and yet he did not respond. He now had lost his wife, his daughter, home and everything else that goes with it. I have not heard from him in over 6 years. I can tell you of many other stories both in my life and in thousands of others I have met over the years.

What is your pivot point? Have you had yours yet? If you have had your pivot point and it has turned you to recovery then congratulations and keep coming back. If the pivot points have stopped you in your tracks, but you have not used them as the change in direction you need to get and stay clean and sober, then what is it going to take? How many more pivot points do you think you are going to get? Death and destruction are all that await the addict who doesn’t heed the call of the pivot point. What is it going to be for you?

I know what my final pivot point was, but that might not be it for you. I remember it was February of 1986 and I was standing in front of my bathroom mirror. I had been out the night before after losing my job and going to a local bar. In Las Vegas most all bars had slot machines for you to get drunk and broke at the same time. It was there at Davey’s Locker that my pivot came from.

I had lost my last 0 and as I looked at my reflection that morning all I saw was death. I was 32 years old and I was going to die and there was nothing I could do about it. I wanted to live and it was in that pivot point that I decided to call out for help. That day I entered into a treatment center. I would drink and use one more time, but from April 25, 1986 I have been clean and sober.

About the Author

Robert Pardon is the founder of, a website that offers recovery information and solutions for those who suffer from alcohol and drug addiction.

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