Here we go, back at it in full swing. Today we have work, school and Harry will start working on the house. Yesterday we hunted for eggs and baskets, went to church, cleaned the house and had everyone here for lunch and then enjoyed the great weather. Snow and rain are back mid week.
This week I have lots and lots to do including a trip to the mountains, 3 baseball practices and a game. Throw in tons of computer and house work as well as the normal juggling of finances and it’ll be a busy week.
Tonight is the Final Four with Wisconsin and Duke but first we have baseball. The head coach called last night telling me he had to go out of state for a while so looks like I’m head coach. Not sure what’s going on but I’ve enlisted my buddy who used to play major league ball to come and help.
It’s 6:30 and Ty, Lori and I are all up. Ty’s not feeling too well as he ate too much candy and Lori isn’t either as she ate a bad Easter egg. Turns out when she hard boiled them, they didn’t get quite done so she thought she’d bake them to finish them off, AFTER the boys had colored them. I told her no way I was eating one but she decided to go ahead and have one, big mistake. She’s a bit better today but what a stomach ache she had within an hour of cracking her egg open yesterday.
No politics, just get ready, time is running short, the signs are everywhere and they are not good, enough said.
Here’s one troubling thing going on where the Pres’s former economic advisor and almost Fed Chair says some really troubling things. I didn’t post the entire article but you’ll get the meaning. And oh yea, gold soared to new highs today!
This Is Why The US Just Lost Its Superpower Status According To Larry Summers
If Larry Summers were a country, he would have joined the Asian Infrastructure Investment Bank. With a backpedalling Washington now completely isolated in its opposition to the China-led venture and with support and enthusiasm running so high that even Beijing itself is apparently surprised, none other than “the hawk†that was almost, kind of considered for the chairmanship of the Fed is out with a sharp rebuke of the US stance calling March “the moment the United States lost its role as the underwriter of the global economic system.â€Of course we’ve been persistent in our contention that the AIIB represents much more than an attempt on China’s part to provide an alternative source of infrastructure financing to fill the gaps left by the ADB, and as is made abundantly clear by the following, the “secret†is certainly out…
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Time US Leadership Woke Up To New Economic Era, by Larry Summers
This past month may be remembered as the moment the United States lost its role as the underwriter of the global economic system. True, there have been any number of periods of frustration for the US before, and times when American behaviour was hardly multilateralist, such as the 1971 Nixon shock, ending the convertibility of the dollar into gold. But I can think of no event since Bretton Woods comparable to the combination of China’s effort to establish a major new institution and the failure of the US to persuade dozens of its traditional allies, starting with Britain, to stay out of it.
This failure of strategy and tactics was a long time coming, and it should lead to a comprehensive review of the US approach to global economics. With China’s economic size rivalling America’s and emerging markets accounting for at least half of world output, the global economic architecture needs substantial adjustment. Political pressures from all sides in the US have rendered it increasingly dysfunctional.
Looks like the rest of the World isn’t believing Obama’s talk anymore. We are increasingly being ignored and left out of World policy. Throughout history America was the undisputed leader in global monetary policy, we led the way and the rest of the World always based their economies on the U.S. dollar. Now in short, they are abandoning us and our currency and looking to the Chinese yuan and other currencies. This is a BIG BIG problem as then our currency and economy holds no international value. You may not understand this or think this is a big deal but you will when prices really go up on the things you buy and use every single day. Forget that milk is now about $6.50 a gallon (up about $1 in 3 months), wait until we are no longer regarded (which according to Larry Summers has already happened) as the World’s currency. It’s nothing but a house of cards and it will soon come crashing down. Good luck!
God Bless.