Relative Progress MEdia

Random Musings on My WordPress weblog

5 Stories … 5 Random Thoughts for 17 Sept

Facebook Building a Mobile Phone

Now if I said this is the dumbest fucking thing I’ve ever heard that would be the obvious reaction. Does anyone outside the tech media really think this shit is going to happen? I mean come on, a Facebook phone?  This one ranks up there with the Verizon iPhone and the Singularity. Both are fable meets fairy tale where both are near but never ever there. Huh?

Rich People…About as Hated as Muslims and Mexicans

With the Bush-era tax cuts set to expire, the Washington rhetoric is heating up over whether to extend them for just middle class tax brackets are all tax brackets. The would include the dreaded “rich” (I use a small ‘r’ on purpose).  Why are we worried about the rich for anyway?  Let’s put it in perspective. First, if you confiscated all the earnings from every able bodied working citizen it would not pay for the TRILLIONS of dollars of spending this fiscal year, the interest on that spending, nor the double digit TRILLIONS we’ll have to spend on our future unfunded liabilities.  Secondly, the “rich” will never pay the increase, they didn’t get rich being stupid with their money. Lastly, their making plans to haul ass anyway which leads back to my second point, you’ll never collect that taxes anyway.

The Federal Reserve is About to Ramp up the Printing Press

So the Fed is mulling over pumping another 2 TRILLION dollars into the fractional reserve banking system. This is on top of the $1.7 TRILLION it “created” earlier this year to buy long-term Treasuries and mortgage-related bonds and the Fed funds rate being kept at near zero for TWO YEARS. But it doesn’t stop there. The Federal Discount window at the Fed where eligible financial institution may borrow funds directly from a Federal Reserve bank has also been kept that rate close to zero. Explain to me again how “quantitative easing” isn’t inflationary?

Tumblr Vs. Posterous…it’s Getting Ugly

I told you all (or the 2 people that read my blog) that the Tumblr Vs. Posterous mess could get bi-coastal and gangsta. The scappy east-coasters from Tumblr are proving to be a worthy foe in the Micro-blogging battle. Now the word on the web analytics street is that Tumblr is growing much faster than Posterous.  Even though I am in the Posterous camp I can’t help but root for the underdog, but at their current rate of growth they ain’t going to be an underdog for long.

U.N. struggles to prove its relevance

That  headline from the Washington Post says it all.

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