Boulder is a Stoopid Place

Here’s a list of Berkshire subsidary companies (full ownership).

Some recognizable names are: Ben Bridge Jeweler, Benjamin Moore, Business Wire, Clayton Homes, Fruit of the Loom, Geico, Helzberg Diamonds, International Dairy Queen, Johns Manville, Nebraska Furniture Mart (having been there, it’s a great store), The Pampered Chef, See’s Candies and Borsheim’s Fine Jewelry. Borsheim’s is only in Omaha, but what a selection. If you have money burning a whole in your pocket, believe me, Borsheim’s can solve that problem with ease.

The Panelist has great coverage of the Berkshire meeting. I love Charlie Munger’s take on global warming:

“… I don’t think it’s an utter calamity for mankind though. You’d have to be a pot-smoking journalism student to think that.”

Read Charlie’s complete response along with Warren’s take here. I don’t think Warren and Charlie are in 100% agreement on this issue.

according to Jim Rogers. In a April 10th interview with the editor of Omega Research’s Hard Asset Investor, Jim reaffirms his long held belief that commodities, as an asset class, are in a 10-20 year bull market. Examples of his reasoning are:

Rogers, who runs his own index to capture the growth in commodities, argues that the commodities market runs in what might be called “supercycles”; 10-20 year stretches when pent-up demand meets the long lead times required to bring on new supply, sending prices steadily higher. With China and India growing fast, he thinks the current commodities bull market has plenty of room
to go..

According to Jim, rational investors should undergo the following thought process.

Nobody has discovered a gigantic oil field for thirty years. That’s not a theory; that’s a basic fact. In the meantime, demand for oil has been going up for many years. That’s not a theory, either; that’s a simple fact. Likewise, there has been one lead mine open in the world for the past twenty years, and the last lead smelter was built in the U.S. in 1979. I could continue: the number of acres devoted to wheat farming has been declining for 20 years.

Those are simple facts that lead me—and, I think, any rational person—to conclude that we’re in a bull market for commodities that has a ways to go.

Commenting on the signs of the commodity boom coming to an end…

Rogers: They should understand that until somebody brings on a lot of supply, commodities will do well. If people start seeing windmills on every roof and solar panels on every house, then maybe this [commodities boom] is coming to an end. If somebody discovers a gigantic gas field in Berlin, maybe this will start to change. Investors need to watch and see when and if new sources of supply develop.

Read it complete interview

Ahmadinejad has a problem…

Iranian President Under Fire for Kissing, Embracing Old Woman in Public

From the hard line Islamic newspaper…

“The Muslim Iranian people have no recollection of such acts contrary to Shariah law during Islamic rule [since the 1979 revolution],” Hezbollah printed on its front page. “This type of indecency progressively has grave consequences, like violating religious and sacred values.”

Stranger things have led to a downfall of a leader (I guess!). We can only hope.

Captain Ed concludes…

This speech took place in April. Coincidentally, that was the same month that we sent $59 million in aid — to the same Palestinian Authority in which this lunatic serves as Speaker. The US has provided the Palestinians with more than $1.6 billion in aid since Oslo. This is what our money buys.

A snippit from the lunatics speech….

Ahmad Bahr began: “You will be victorious” on the face of this planet. You are the masters of the world on the face of this planet. Yes, [the Koran says that] “you will be victorious,” but only “if you are believers.” Allah willing, “you will be victorious,” while America and Israel will be annihilated. I guarantee you that the power of belief and faith is greater than the power of America and Israel. They are cowards, who are eager for life, while we are eager for death for the sake of Allah. That is why America’s nose was rubbed in the mud in Iraq, in Afghanistan, in Somalia, and everywhere.

Read the rest.

There’s gotta be a better place to spend our (tax) money?

Except for the highly motivated “star” students, I expect most aren’t doing enough. Apparently that doesn’t keep them from expecting to make $145,500/year! Perhaps they should read the homework rant at the Right Wing Nation.

Here’s an excerpt on how student expectations have changed….

In fact, students today have a lot of expectations I did not when I was an undergraduate. I don’t recall expecting that I should get an A because of how much I studied, or because I “tried really hard.” I don’t recall expecting that mediocre work that barely fulfilled the requirements would get me an A. I don’t recall expecting to receive partial credit if my answer was incorrect. I don’t recall expecting that I could pass a course while rarely going to class or doing only part of the assigned work.

American teens expect to earn $145,500 a year when they grow up, according to a Teens & Money survey released this month.

Now I’m not sure “when you grow up” is, but if it’s long enough inflation might get many to that level. Does seem a tad bit optimisitic if you ask me. Visit Joanne Jacobs site to read her take.

Imprisonment by stealth

It couldn’t have much to do with the Boulder County Land Use Regulations that are primarily enforced by complaint?

This is an excerpt from a Bankrate.com interview with Stephen Pollan, author of “Die Broke” and also “Live Rich” among various other books.

You continue to hold with the one “Die Broke” tenet that puzzles some, which is, don’t retire.

Because leisure is lethal. My wife and I are both 78. Age is a matter of what’s between your ears. Most of age is created by attitude; I think attitude is a life-extender, exuberance is a life-extender. You know, you can talk yourself into death. Life is just so great that you should never make plans for anything else. The nicest thing about life, I’ve discovered, is to have somebody in your life that you would take a bullet for, and that’s what you have when you have kids. Then it’s all about love.

I’m all for having a purpose and goals throughout one’s life, but I’m convinced that jobs in my career path have done nothing but shorten my life span. Perhaps I need to work on my attitude???

Read what the Financial Times has uncovered about carbon credits.

Here are the highlights…

■ Widespread instances of people and organisations buying worthless credits that do not yield any reductions in carbon emissions.

■ Industrial companies profiting from doing very little – or from gaining carbon credits on the basis of efficiency gains from which they have already benefited substantially.

■ Brokers providing services of questionable or no value.

■ A shortage of verification, making it difficult for buyers to assess the true value of carbon credits.

■ Companies and individuals being charged over the odds for the private purchase of European Union carbon permits that have plummeted in value because they do not result in emissions cuts.

Sounds like a great scam for Al Gore to be involved in. I can hear
the call for more Government regulation. If only people had common
sense.

According to the Christian Science Monitor, NYC mayor Michael Bloomberg is going to lead us to the promised land where global warming is under control. Hopefully the NYC economy won’t be in shambles by the time he’s done.

There’s always a reason for another tax.