Thursday, December 4, 2008, 06:33 PM EST [General]
por Richard W. Rahn.-
El Banco Central de Estados Unidos fue creado por el Congreso en 1913, tras el pánico de 1907, llamándolo Reserva Federal (Fed). Las recesiones o depresiones se conocían como pánicos y tendían a ser cortas y corregirse por sí solas. Además de evitar pánicos, a la Fed se le encargó mantener precios estables y pleno empleo. Al considerar si conviene o no mantener operando al Banco Central, debemos revisar las estadísticas, especialmente lo ocurrido durante los 94 años antes de comenzar las operaciones de la Fed, en 1914, y en los 94 años posteriores, hasta el 2008.
Desde 1820 a 1914, el nivel de precios se redujo 0,06%, mientras que desde 1914 a 2008 los precios aumentaron 1.300%. Entre 1820 y 1914, el número de bancos aumentó en 27.000, mientras que entre 1914 y 2008, el número de bancos se redujo en 18.500. Otro dato importante es que, antes de la Fed, el mayor número de bancos que quebraron en un solo año fue 496, mientras que el mayor número de bancos que han quebrado en un solo año desde 1914 fueron 4.400.
Estados Unidos estuvo bajo el patrón oro casi todo el tiempo anterior al establecimiento de la Fed. Hubo períodos de deflación (durante la Guerra Civil) y en la década de 1890, pero los precios en 1914 eran prácticamente los mismos que los de cien años antes.
La conclusión es que el Banco Central ha fracasado en mantener precios estables.
El número de bancos creció rápidamente a lo largo de los cien años anteriores a la fundación de la Fed, pero su número cayó mucho durante la depresión de la década de 1930, por quiebras y fusiones. Las fusiones de bancos han continuado hasta nuestros días y el número de bancos se sigue reduciendo.
La Fed estaba supuesta a regular los bancos para evitar quiebras, pero relativamente pocas ocurrieron antes de la Gran Depresión de los años 30, cuando miles quebraron y, de nuevo a fines de los 80 y comienzos de los 90, durante la crisis de las entidades de ahorro y préstamos, cuando alrededor de 1.600 quebraron.
Tampoco hay señal alguna de que el desempleo haya sido menor desde que tenemos un Banco Central.
El pánico del 2008 parece tener el mismo origen que las recesiones, depresiones y pánicos anteriores. Lo que suele suceder es la expansión monetaria (demasiado dinero y crédito fácil), con intereses muy bajos, lo cual infla el precio de los activos y, como lo advertía el premio Nobel de economía F. A. Hayek, "no exceso de inversiones sino de malas inversiones", lo cual hace que aumenten los precios. Bajo el patrón oro, la caída de las reservas frena la inflación. Pero bajo un Banco Central eso no sucede hasta que la directiva no decida restringir el circulante y el crédito.
Antes de los Bancos Centrales y del gobierno grande, los pánicos duraban poco, sin necesidad de "rescates" ni programas de estímulo económico. Como la Fed, el Departamento del Tesoro y el Congreso están obviamente muy confundidos con la situación actual, la historia nos enseña que lo mejor que pueden hacer es no hacer nada.
You know what??? I'm really down with James Franco...mainly cause this guy always does different types of movies and I can respect that!!! Plus Pineapple express was soooooo funny!!!
Personally I find Fred annoying....and someone needs to put him in place. He hates this guy named Kevin...but no one ever hears about the guy that Fred is always mean to!!!!
Thursday, December 4, 2008, 06:31 PM EST [General]
Y fue asì, los "garotos" de Porto Alegre se organizaron una fiesta de aquellas previo al partido de vuelta en el estadio Beira-Río que estaba al tope con unas 55 mil personas en sus graderìas de las cuales unas 3,500 eran partidarios de la visita, Estudiantes de la Plata. Hubo desfile, mucha samba y bellas "garotas", anticipando la obtenciòn del tìtulo del certamen regional.
Sin embargo el partido de fiesta no tuvo nada, por el contrario, la aficiòn local sufriò y màs de lo esperado, Estudiantes sacò de la galera su garra futbolera y llevò el partido al alargue ya que terminò ganando 1-0 en tiempo regular. Luego, a minutos del final Inter igualò y como en la ida en Buenos Aires habìa ganado 1-0, la igualdad le alcanzò para ser campeón y a la vez terminar la fiesta post partido.
No fue un encuentro de jugadas pulcras, no, fue un juego de dientes apretados, tìpico entre equipos brasileños y argentinos en instancias semejantes, todo quedò en el sur del continente, hasta el arbitraje del uruguayo Larrionda que no tuvo una noche plena pero tampoco se lo puede culpar del resultado. Estudiantes, sin piernas y sin su emblema, Juan Sebastiàn Veròn, se retirò lesionado, apuntò a los penales, y por poco lo logra.
De todas maneras ganò el equipo màs regular de todo el torneo, empatò tres partidos y ganò seis, asimismo sumò un galardòn importante a sus vitrinas, pues tras haber ganado la Copa Libertadores y el Mundial de Clubes de la FIFA en 2006, y la Recopa Sudamericana en 2007, con la Copa Sudamericana en su palmarés igualò a Boca Juniors al obtener todos los tìtulos disponibles a nivel clubes.
Me gustò la final, me gustò el deseo de ambos equipos de querer ganar, dignos finalistas sin duda alguna. Me gustò el marco fiestero que aportaron las tribunas y el final, con Estudiantes de pie, herido si, pero orgullosamente observando como su contrincante de turno recibìa el premio mayor.
La Copa Sudamericana no es la Libertadores, a no engañarse, pero convengamos que la Conmebol y equipos como los dos que jugaron la final le aportan jerarquìa y categorìa internacional al certamen, un ejemplo a seguir para varios equipos de la regiòn que a veces, equivocadamente, toman a la ligera el torneo por cuestiones de presupuesto y plantel y luego se quedan sin el pan y sin la torta.
Ahora a la Conmebol le hace falta un empujoncito màs y, a pesar de los malos tiempos financieros que vivimos, ver si puede incentivar econòmicamente unos renglones extras a los equipos que participiràn en la versiòn 2009, el prestigo es màs prestigio si llega acompañado de un cheque interesante.
Fin del capìtulo 2008 de esta copa prima de la Libertadores, ganò un brasileño que festejò de forma bien Alegre. Estudiantes, despuès de màs de 30 años volviò a una final semejante y mostrò que su orgullo futbolero sigue intacto como entonces, cayò de pie, como los buenos de verdad.
Thursday, December 4, 2008, 06:28 PM EST [General]
El dia 22 como el 23 de Noviebre fue la Misa y la Graduacion de mi carrera pero por problemas no pude ir medolio no ir por que era el ultimo dia en que podria ver a mis ex compañeros pero no quedo de otro por que tenia que trabajar y la verdad si no trabajo como voy a pagar las colegiaturas de mis carrera mas que yo estaba atrasado con las mismas por que amediados de este año 2008 me despidieros pase como un mes sin trabajo ahoro que lo pasado pasado y es hora de ponerme a trabajar para poder entrar a la universidad de san carlos de Guatemala
Thursday, December 4, 2008, 06:28 PM EST [General]
Marvin felt like he had to talk to his team about guns and being smart and careful where you go.
Does your boss do that where you work ?
Aren't NFL players grown men. Many graduate college. Can't they figure this out by themselves ?
Marvin is saying that Shirley isn't very smart. Marvin and Zimmer can help Shirley make a lot of money. But, so far, the 5th rounder doesn't get it. But, because he weighs around 330 and has potential, Marvin hopes that the light bulb goes on. Maybe it will.
Caller this morning was upset over the lack of moves by the REDS.
I have no idea what they are doing. Marty doesn't either.
Let's see what the team looks like going into spring training.
Let's see what the team looks like on opening day.
Give Walt J. the benefit of the doubt. Plenty of time to RIP !
I believe that Walt J. will put a good bench together.
I believe that Walt J. has hired some good baseball people around him to make the right suggestions. Walt is the decision maker.
Plenty of teams will wait until the PRICES go down. Put the REDS in that boat. Spending $$$ isn't something you expect the REDS to do.
I like what Walt J. has said. The defense has to get better. I can name plenty of spots. Like SHORTSTOP !
Last night at Rupp, I saw something first hand that I hope to never see again. Collision between two good kids, Michael Porter and Ramon Harris. Harris was carted off. He was crying out loud for the better part of the 8 minutes the game was held up. His arms and legs at times were shaking, He was released from the hospital late today.
BJ Raymond joins us tomorrow morning at 8:30. The kid can shoot. I like X's toughness. I like Sean Miller's control of his program. So, X beats a bad SEC team in Auburn. You get the feeling that it's possible Auburn calls at the end of the season when they might be looking for a coach. Sean says no thank you. He has a better job.
Auburn wins 9 out of their last 14 against top 10 teams. Less than two years ago, Tommy Tuberville was consider a big game coach. Who doesn't believe he was pushed out. Oh, and he beat Alabama 7 out of 10 times. He got crushed this year.
If you believe in common sense. If you are going to dump Tommy, shouldn't you know you can hire a better coach ??
America is the great country in the world. Where else could David Ross make 3.5 million for warming up the catcher between innings. If the Braves are going to pay anyone that amount, why not Ross ? Great guy. He will love playing for Bobby Cox.
If Barry Larkin is free of Washington and as Marty would say, leatherpants, why isn't he back with the REDS ?
If Phil Savage is saying he hopes to stay on as GM of the Browns, how confident can he be ? At least he received a contract extension. Don't look for him to become a GM anytime soon if the Browns dump him.
Thursday, December 4, 2008, 06:20 PM EST [General]
WHAT UP WHAT UP, IT'S MELDINGO THE MAC. I KNOW I AINT BEEN AROUND I A FEW BUT THE TRIALS AND TRIBULATIONS OF LIFE HAVE GOT YA GIRL WORKIN OUT LIKE A MIDDLE AGED WOMEN THAT JUST REALIZED THAT HER FAT DAY JEANS DON'T FIT ANYMORE. BUT I AINT FOR GOT ABOUT NONE OF YA'LL. TO ALL MY FOLKS YOU KNOW WHO YOU ARE. I'LL BE ALRIGHT AND BACK IN ACTION IN A FEW. TO THOSE THAT I WILL SOON COME TO KNOW, I LOOK FORWARD TO CHOPPIN IT UP WITH YA. KEEP SENDIN THOSE FRIEND REQUESTS. IT MIGHT TAKE ME SOME TIME TO ADD YOU BUT I WILL. BARE WITH ME. AND ON THAT NOTE I'M OUT OF THIS PIECE. STAY STRONG AINT NO WAY I'M GOIN OUT LIKE THIS. SHOOT, NOTHING LASTS FOREVER. THEY CAN'T HOLD A NIGHA DOWN FOR LONG.
There I was having a perfectly normal evening, on perfectly normal Thursday. When word gets out that Honda's Formula One team are pulling out with immediate effect. To say I am devastated does not really sum it up.
Okay, okay, the facts are that they have not justified having the largest budget within formula one, yes, I know. But they have been the underdog, the team that were always there, always backed their drivers and had a focus in believing that they could they get the forumla right, they could start rivalling the top teams. With Ross Braun being the team principal, Honda supporters got a bit excited at the prospect, feeling that the magic that he brought to Ferrari and in particular, his partnership with Micheal Schumacher, could be renewed.
But now, with the news leaking that they are withdrawing from the sport, and it is only a matter of hours before it is formally announced, that the plug is being well and truly pulled, those hopes have also died, faded away.
Since his BAR days, I have always been a massive supporter of Jenson Button's and believe me, I have had so much stick off family and friends for it, but I have firmly believed he has the potential to become a winner, he has the skill but it has been the car that has let him down. I have never given up in believing in this, even after disappointing season upon disappointing season. And now, years down the line, I am starting to feel this passion I have had for so long, is finally burning out.
So, I go to bed this evening, sincerely hoping I wake up and read that it was a mistake, none of this has happened, but, I also know that when I put the news on in the morning, the inevitable will have happened. I hope that they can find a buyer, that Jenson Button will not, as I have been told by so many, be a "nearly was", and that he will not be relegated to the sidelines for 2009. But the phrase "wishful thinking" may ring true. I hope I can be proved wrong.
Thursday, December 4, 2008, 06:19 PM EST [General]
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The always great Star magazine says today that Jamie Lynn Spears is worried she caused permanent damage to her daughter Maddie because Jamie had lipo while she was pregnant. You might be wondering how a perfectly healthy 16-year-old managed to get lipo, and you'd be right. Jamies mom Lynne had to fight for her daughter to get approved because you're not supposed to knock out underage teens and poke around inside of them. Ironically, that's how Jamie got into this mess to begin with. So far it's not clear if Maddies slow development is because of the surgery, or because the Spears' are retards. Star says...
Jamie Lynn had just finished her hit Nickelodeon show Zoey 101 when she found the weight piling on. Not realizing she was expecting, she pleaded with her mom, Lynne Spears, to let her get liposuction, says a source. She didn't know she was pregnant when she filled out the health questionnaire prior to the procedure," a second source reveals. "Her mom approved the injections and went through tons of red tape to get the clinic to administer them to an underage patient." "Any form of liposuction is dangerous and should not be performed on a pregnant woman," plastic surgeon Dr. Gary Burton tells Star. "It poses serious health risks to the fetus."
The numbers here are kind of weird because Spears made her announcement to the world when she was 12 weeks pregnant. How much weight could she have really put on in three months? Is the answer 17 pounds? Because that's what I'm guessing, and if it turns out I was right that would really be something. Borderline amazing
Cash Money Records co-founder Ronald "Slim" Williams has released a statement congratulating Lil Wayne on his earning eight Grammy Award nominations last night (December 3).
In the statement, Williams expressed his pride in Wayne's latest career accomplishment and took time to note that his accolades are well deserved.
"The success of Tha Carter III was the result of Wayne's tireless work ethic and incredible creative ability," Ronald "Slim" Williams told AllHipHop.com. "On behalf of his New Orleans hometown, my brother Baby and I are honored to salute him as the artist with the most nominations at this year's Grammy Awards."
Williams and his brother Bryan "Baby" Williams took Wayne under their wing at the tender age of eleven, helping to mold his aspirations as an artist, which started in the drama club at Eleanor McMain Secondary School in New Orleans.
By the time Wayne was a teenager, he was a member of Cash Money's ground breaking group the Hot Boys, and well on his way to pushing the boundaries in Hip-Hop.
Tha Carter III, which is up for the coveted Album of the Year award, remains the best selling album of 2008 to date, moving over a million units during its first week upon its release in June.
"We've worked with Lil Wayne since he was a teenager, signing him as part of the Hot Boys with Juvenile, B.G. and Turk," Slim added. "We have had the pleasure to see him grow and mature, both artistically and personally, into a multi-platinum superstar, but even more importantly, a loyal member of the Cash Money family, using our label as his base of operations."