Wednesday, December 10, 2008

Quick Hits

There was a driving rain storm for the ride home tonight and thus I have zero time to make a post. You know I think I could develope as a writer if I did not have to work for a living! There are a few points I really wanted to get into, so I am a bit perturbed. With another day to think about things maybe I can have some coherent thoughts up tomorrow.

Seeking Alpha Opportunity
Perhaps some of the readers here have seen the site Seeking Alpha. The site is a huge collection of news and opinion from all facets of the web: Newspapers, analyst reports, and of course blogs. Someone from the site got in contact with me and showed interest in my writings as possible inclusion on the site. There is no cost to me and all I have to do is return a form and meet their requirements for disclosure. So up front I must say I OWN SHARES IN Goldcorp (GG) and Kinross Gold (KGC).

I will complete the paper work soon and I hope some article of mine makes it on the site. I am sure if one does I will break the top 100 of economic blogs, so lets hope!

FED to Issue Own Debt?
This is a huge story and one I need some more background on. If you have some good insight or articles that are good leave them in the comments section!

I am at a loss to understand what this means exactly. I am sure the FED has no authority to issue debt, but when has the rules ever stopped the FED from anything? With that disregarded, how does the FED pay off this debt? Is it linked to the Treasury? Why not just use the Treasury? There are so many questions. A Wall Street Journal report can be found here.

I think that this move demands better scrutiny than the TARP or auto bailouts. What is the FED doing with this?

Auto Dog and Pony Show
There is some talk this evening about some republicans opposing the auto bailout bill. I imagine it is the same bunch that complained about the TARP, waited for more pork to be added, and then went along with it anyway. Expect the same rollover on this one. Spineless and weak, there is now no opposition party to protect the US taxpayer. It is a free for all unless you are a taxpayer. Sorry.

Prime Rib Information
I want to make a prime rib for the Christmas dinner this year. I would ask the readers to help me out with online places to get one (any suggestions) as well a preparation tips. I have a terrible feeling this is going to go bad. I think McDonald's is open the day after Christmas, so I do have a backup plan.

Have a good night.

4 comments:

watchtower said...

Wow, the Seeking Alpha website looks "uptown", congratulations on even being contacted and let us know if you get something published, that is just to cool.

Anonymous said...

Gysc

The Fed issuing it's own debt is another stab in the heart of our elected government and a power grab by the FED.

The Republicans are setting the Democrats up to take the fall on this one just like they did on the bailout that was unpopular with the public.

Watch this one they blow and it will hit the CDS's market hard.

GMAC, owned by private equity firm Cerberus as well as General Motors Corp, said it would give bondholders until Dec. 12 to exchange their debt under more favorable terms -- the third time it has extended the date.
GMAC is looking to swap $38 billion of outstanding debt for a smaller amount of new debt, as well as preferred shares and cash, in an effort to reduce its debt load and raise the capital it needs to qualify as a bank.

Prime Rib

The selection of the meat is very important. You want one with the rib bones and a cap of fat on top.
Put that little darling in a shallow pan bones down it about a 1/2" of water with some beef base. On top put rock salt, pepper, celery, onion, garlic, and cilantro. Cover loosely with aluminum foil, bake at 500 degrees on middle oven rack. I would recommend getting a meat thermometer. Bast occasionally with water in pan and add water as needed to keep from drying out. I like mine rare personally about 155 degrees in the center. A good sized one that will feed about 12 take about 3 hours.

Kevin

Anonymous said...

Let the FED make funny money for all I care.... it's not going to stop the inevitable.

Prime rub..I mean rib? There is always Golden Coral.

;)

G

PS: I had a job interview today. It went well.

Anonymous said...

G

Happy to hear that, best of luck.

Kevin