Dear
Rink Rats:
Who are
the highest paid on television?
Sincerely,
I
Feel Like Getting Depressed
Dear I
Feel Like Getting Depressed:
Yes
this will get you very depressed, especially in today’s economy and the morons
who top this list:
Judge Judy Sheindlin - $45 million
Simon Cowell - $40
million
David Letterman - $28 million
Matt Lauer -
$21.5 million
Judge Joe Brown - $20 million
Bill O’Reilly -
$20 million
Kelly Ripa - $20 million
Jon Stewart - $16 million
Jay Leno - $15 million
Ryan
Seacrest - $15 million
Impressive
and depressing.
Regards,
Rink Rats
QE3
- "Fed bets big in new push to rescue U.S. economy, The Federal Reserve
launched another aggressive stimulus program on Thursday, saying it would pump
$40 billion into the U.S. economy each month until it saw a sustained upturn in
the weak jobs market. The central bank's decision to tie its controversial bond
buying directly to economic conditions was an unprecedented step that marked a
big escalation in its efforts to drive U.S. unemployment lower. Stock prices
jumped, while gold hit a six-month high as investors braced for faster
inflation. Unlike in its two previous bond-buying sprees, the Fed said it would
only purchase mortgage-backed securities, hoping in part to unstick a housing
sector that Fed Chairman Ben Bernanke called 'a missing piston' in the U.S.
recovery.
CHEAT SHEET: WHAT THE FED ANNOUNCED - "The FOMC announced a new purchase
program--QE3--of $40 billion per month, all of which will be in agency MBS. It
will run side-by-side with the $45B or so per month in long-term Treasuries via
Operation Twist scheduled through the end of this year. They hinted they could
well come back and add to the QE program after that ... They also extended the
forward guidance on low rates to 'at least through mid-2015' ... Here is the
key line: 'If the outlook for the labor market does not improve substantially,
the Committee will continue its purchases of agency mortgage-backed securities,
undertake additional asset purchases, and employ its other policy tools as
appropriate until such improvement is achieved in a context of price
stability.' The vote was 11 to 1. There was one dissent: Pres. Lacker, who
dissented at the last meeting as well."
BOTTOM LINE - Assuming tame inflation, the Fed is not tightening till we get below
7% unemployment, which the central bank now foresees in late 2014 following its
latest action (halfway through Obama II or Romney I) ... All this means that if
the economy does what the Fed thinks it will over the next four years the next
presidential election will take place in a very different climate.
We tend to believe that
recovery will not take place until second quarter of 2016. Too many negatives
still in the economy: Europe, Fiscal Cliff, Regulations, Deleveraging, Student
Debt, too much to overcome.
THE NEXT BATTLE: APPLE VS GOOGLE - "Steven
P. Jobs minced no words when talking about Android, Google's mobile operating
system, which he saw as too similar to the iPhone's. He told his biographer,
Walter Isaacson, that Android was 'a stolen product' and said, 'I'm willing to
go thermonuclear war on this.' ... But so far Apple has not gone to war with
Google, at least not directly. Instead, Apple has sued the cellphone makers
that use Android in their products - like Samsung ... Now, though, the war is
drawing closer to Google's doorstep. Google is increasingly making its own
hardware, thanks in part to its acquisition of Motorola Mobility, or playing an
integral part in designing it, as it did with the Nexus 7 tablet. ...
'Apple's desire is to be able to put Google on that hot
seat, but they need a path to actually be able to do that, and so far all
they've seen is a way to go after actual hardware makers,;' said Charles S.
Golvin, a mobile industry analyst at Forrester. Google could end up more
squarely in Apple's sights if it doesn't take precautions, Mr. Golvin said.
'What it means for the Android folks is a very careful review, back to the
drawing board, including a close examination of Apple's stable of patents to
weed out anything that looks risky in terms of violating the Apple
portfolio."
IPO WORST EVER? In Facebook's IPO, it "wasn't just NASDAQ's performance
that was 'the worst ever.' With Thursday's stock swoon, Facebook's IPO now
ranks as 'the worst performer among all large IPOs on record,' according to
data compiled by Bloomberg. That's quite a designation for what was supposed to
be the apex of Silicon Valley's high-profile social media debuts."
BIRTHDAYS
THIS WEEK – Birthday
wishes and thoughts this week to: Faith Hill (45), Cheryl Hines (47), Phil
Jackson (67), Stephen King (65), Tommy Lasorda (85), Bill Murray (62), Rick
Pitino (60), Ronaldo (36), Bruce Springsteen (63), Ava Suffredini …a princess,
Trisha Yearwood (48).
INSIDE POTUS' HEAD - Michael Lewis, in the Oct.
issue of Vanity Fair, "Obama's Way ": "From the time his wife goes
to bed, around 10 at night, until he finally retires, at 1, Barack Obama enjoys
the closest thing he experiences to privacy: no one but him really knows
exactly where he is or what he's up to. He can't leave his house, of course,
but he can watch ESPN, surf his iPad, read books, dial up foreign leaders in
different time zones, and any number of other activities that feel almost normal.
He can also wrestle his mind back into the state it would need to be if, say,
he wanted to write. And so, in a funny way, the president's day actually starts
the night before.
"When
he awakens at seven , he already has a
jump on things. He arrives at the gym on the third floor of the residence,
above his bedroom, at 7:30. He works out until 8:30 (cardio one day, weights
the next), then showers and dresses in either a blue or gray suit. 'My wife
makes fun of how routinized I've become ... It's not my natural state ...
Naturally, I'm just a kid from Hawaii. But at some point in my life I
overcompensated.' After a quick breakfast and a glance at the newspapers-most
of which he's already read on his iPad-he reviews his daily security briefing.
When he first became president he often was surprised by the secret news; now
he seldom is. 'Maybe once a month.
--HOW IT HAPPENED --
Reuters/Benghazi, Libya: Ambassador Stevens "and three other embassy staff
were killed in a rocket attack on their car ... as they were rushed from a
consular building stormed by militants denouncing a U.S.-made [video] insulting
the Prophet Mohammad. Gunmen had attacked and burned the U.S. consulate in the
eastern city of Benghazi ... Stevens was being driven from the consulate building
to a safer location when gunmen opened fire."
"According
to the State Department Office of the Historian, five U.S. ambassadors have
been killed by terrorists: Adolph Dubs, in Afghanistan, 1979 ... Francis E.
Meloy Jr., in Lebanon, 1976 ... Rodger P. Davies, in Cyprus, 1974 ... Cleo A.
Noel Jr., in Sudan, 1973 ... John Gordon Mein, in Guatemala, 1968. Two other
U.S. ambassadors have died in plane crashes: Arnold L. Raphel, in Pakistan,
1988 ... Laurence A. Steinhardt , in Canada, 1950."
ANNIVERSARY – Congrats to
Newman’s Own for thirty years of raising funds for a variety of charities and
producing great products.
COLLEGE FOOTBALL PICK OF
THE WEEK – Saturday
9/22, 8:00 PM ET, ABC: #10 Clemson Tigers (3-0) visit Tallahassee, Florida and
the #4 Florida State Seminoles (3-0). This
HUGE early ACC tilt has Florida State’s
#1 ranked defense and #2 ranked offense at home, too much for the Tigers – FSU 42
Clemson 28. Season
to date (1-2).
SMALL COLLEGE FOOTBALL PICK
OF THE WEEK – Saturday
9/22, 1:00 PM ET, the SciFi Channel: It is a battle of the engineers in beautiful
Troy, New York. Worcester Polytechnic Institute Engineers (1-2) visit
Rensselaer Polytechnic Institute Engineers (2-1). To the optimist, the glass is
half full. To the pessimist, the glass is half empty. To the engineer, the
glass is twice as big as it needs to be. RPI 24 WPI 10. Season
to date (3-0).
NFL FOOTBALL PICK OF THE
WEEK – Sunday
9/23, 4:05 PM ET, Fox: Undefeateds’ clash in the desert – Philadelphia Eagles
(2-0) visit Arizona Cardinals (2-0). Andy Reid has the Eagles playing good and
lucky football in the early going; Eagles 24 Cardinals 14. Season
to Date (2-0).
THE SWAMI’S TOP PICKS – FSU 42 Clemson 28, RPI 24
WPI 10, Eagles 24 Cardinals 14, Montreal Alouettes 30 Toronto Argonauts 24. Season to Date (7-4).
DO YOU KNOW - University of Southern
California (USC) official mascot is?
(a). A
Trojan warrior. (b). A Greek God
©. A
Trojan horse (d).
A Trojan condom
Answer in @SLU25 twitter.
DRIVING THE WEEK - Obama
campaigns in Ohio today and announces the trade case ... The president is in
Manassas, Va. on Friday and Milwaukee, Wisc. on Saturday ... Romney speaks in
L.A. at 12:15 PDT today ... Paul Ryan campaigns in Iowa today and New Hampshire
and Virginia on Tuesday ... House Small Business Committee has a hearing
Thursday at 1:00 p.m. on the impact of the sequester spending cuts on small
businesses ... Senate Finance and House Ways and Means have a joint hearing on
Thursday on the tax treatment of capital gains.
Among the pile of economic data, Philly Fed on Thursday at
10:00 a.m. may give us some clues about the next jobs report ... OWS plans a
one-year anniversary set of protests in NYC today beginning at 7:00 a.m. and
focused on the NYSE, Zuccotti park and Foley Square. So plan some extra time if
you need to get around downtown.
Next week, movie and Jack Ass of the month.
Until Next Monday, Adios.
Claremont, CA
September 17, 2012
#III-21, 126
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