A Year of Change

No matter what you think of our views or posts, this is one you cannot ignore. Seems our govt is proposing that banks can now “bail in”. If you don’t know what this means, a bail out is when the govt gives banks or companies money to stay solvent. Well now the govt wants to give banks the power to take depositors money that is in their banks and use it to bail themselves out of trouble, or bail in.

Now if you don’t find this alarming, you must not have any money in any bank or you’re just gullible (believe everything the govt tells you) or worse yet, stupid. In any case, you’d better read on for yourself, I’ll try to highlight the important parts if you don’t want to read the whole thing. So here we go.

U.S. Preparing Bank Bail-Ins – Fed Vice Chair Fischer

Federal Reserve Vice Chairman Stanley Fischer delivered his first speech on the U.S. and global economy in Stockholm, Sweden yesterday.

Fischer headed Israel’s central bank from 2005 through 2013 and is now number two at the Federal Reserve in the U.S. after Janet Yellen.

In a speech entitled, The Great Recession: Moving Ahead, given at an event sponsored by the Swedish Ministry of Finance, Fischer said that the economic recovery has been and remains “disappointing.”

“The recession that began in the United States in December 2007 ended in June 2009. But the Great Recession is a near-worldwide phenomenon, with the consequences of which many advanced economies–among them Sweden–continue to struggle. Its depth and breadth appear to have changed the economic environment in many ways and to have left the road ahead unclear.”

Speaking about the steps that have been taken internationally in order to “strengthen the financial system” and to reduce the “probability of future financial crisis,” Fischer said that the U.S. was preparing proposals for bank bail-ins for “systemically important banks.”

“Additional steps have been taken in some countries. For example, in the United States, capital ratios and liquidity buffers at the largest banks are up considerably, and their reliance on short-term wholesale funding has declined considerably. Work on the use of the resolution mechanisms set out in the Dodd-Frank Act, based on the principle of a single point of entry–though less advanced than the work on capital and liquidity ratios–holds the promise of making it possible to resolve banks in difficulty at no direct cost to the taxpayer.

As part of this approach, the United States is preparing a proposal to require systemically important banks to issue bail-inable long-term debt that will enable insolvent banks to recapitalize themselves in resolution without calling on government funding–this cushion is known as a “gone concern” buffer.”

Fischer’s comments that the U.S. is “preparing a proposal” for bail-ins is at odds with Federal Deposit Insurance Corporation (FDIC) and Bank of England officials who have said that bail-in legislation could be used today.

The U.S. already has in place plans for bail-ins in the event of banks failing. Indeed, the U.S. has conducted simulation exercises with the U.K. in 2013 and again this year.

On October 12 2013, Art Murton, the FDIC official in charge of planning for resolutions, and the Bank of England’s Deputy Governor Paul Tucker, both confirmed that the U.S. system is ready to handle a big-bank collapse.

The Bank of England’s Tucker, who has worked with U.S. regulators on the cross-border hurdles to taking down an international bank said that “U.S. authorities could do it today — and I mean today.”

There is speculation that were Yellen to retire early Fischer would be anointed as the new Federal Reserve Chairman.

Fischer who previously was chief economist at the World Bank, also makes it clear that he expects ultra loose monetary policies to continue in the U.S. which will be bullish for gold and silver.

Now this means that if banks decide they need your money, they can take it. You might think this is no big deal until something happens, (a terrorist attack, a strike, a war, a natural disaster, a stock market correction, etc.) that will make everyone want or need money. Then what will you do when your bank doesn’t have all or perhaps, any of YOUR money?

I’m not saying take all your money out of the bank but I am telling you to diversify now. Buy some gold and silver that you can hold in your hands, spread your money out among multiple banks and keep some cash at home. This will at least help you if things go south, and believe me there are many really smart people who say it’s just a matter of time until they do. My dad would definitely do this or better yet, probably would not have allowed the banking community to do such a thing!

Now that that’s out of the way, onto the day. The boys and I left early, finished up our business in the mountains and then headed back to Denver. On the way we decided to stop and do some fishing. After about an hour with fish jumping around us, we packed it in and headed home. No fish for dinner.

Today I have lots of work to do as it’s my last office day before hitting the road until Sunday. Of course the boys start school Monday so this is our last hurrah, so to speak. Lori worked late yesterday and will do so again today so she can take Friday off. I’ll be glad when our pre-sell is over (August 24th) so I can stop driving every day.

That’s it people, hope you all are well. Hard to believe Robin Williams took his own life. He must have had some really bad demons inside, it’s really sad. We’ll pray for him and his family and you should too!

God Bless

That’s what my Mom said after reading yesterday’s post. Every word that Grandma said, she said, was true true true. Thankfully she and many of you, grew up in a time when you were taught responsibility, manners and to care for your fellow man. Luckily my Mom (and many of you) taught us, (your children) these things too. Now it’s our job to teach our kids. You see I believe the root of a lot of our problems can be traced back to bad parenting. If you look at kids nowadays with their attitudes and no respect for anyone, and a sense of entitlement, well, this all comes from not being raised properly. No one wants to say it but many minority kids have such a hard time because they have a higher incidence of single parents or come from more broken homes than caucasians, it’s just a fact. So to turn things around, we need to get back to two parent households that put raising their kids first! Just my 2 cents.

Today I’m off to Vail for a couple hours to drop some more samples and donate some signed Bocelli wine to the Roundup River Ranch which is a ranch for terminally ill kids started by Paul Newman. Lori and I try to pick the things we donate to carefully as everyone wants free wine. They have their big annual fundraiser dinner this weekend which we were invited to but can’t make. We also missed last year but still donated. We’ll be here tomorrow, then lunch in Ft Collins Thursday and another one in Aspen Friday. Then hopefully I should be done for a while which is good as school starts next Monday.

The rain returns tomorrow for a few days and they say we’re going to have a wet snowy winter. I need to get the boys snowboard boots rented. I’m taking up a collection for ski passes this year! In fact if anyone is thinking about Christmas already, just pitch in on ski passes for us as they cost $1500! Lori won’t be skiing with her neck so for her, spa certificates are good, ha ha.

Annette called yesterday to tell me she was sending us two wool blankets from the 1940’s (yea, we love that stuff) she found when cleaning out the garage. She also found, much to her surprise, $3400 in savings bonds from 18 years ago! What a fun find! I also found out her and Jim are getting ready to go on a cruise to Alaska which is great. She hurt her knee though so she’s trying to heal before they leave in a couple of weeks. Hope you get better soon!

Guess I’ll run so I can get things together. Lots to do and we should be back in Denver by noon. Hope you all are well, oh yea, Lori is allergic to something and we’re trying to figure it out but can’t quite narrow it down. It’s either nuts or fish but we’re still not sure.

Take care and God Bless.

One evening a grandson was talking to his grandmother about current events. The grandson asked his grandmother what she thought about the computer age, and just things in general.

The Grandmother replied,

Well, let me think a minute, I was born before television, penicillin, polio shots, frozen foods, Xerox, contact lenses, Frisbees and the pill.

There were no credit cards, laser beams or ball-point pens.

Man had not yet invented pantyhose, air conditioners, dishwashers, or clothes dryers.

Clothes were hung out to dry in the fresh air and man hadn’t yet walked on the moon.

Your Grandfather and I got married first, and then lived together.

Every family had a father and a mother.

Until I was 25, I called every man older than me, “Sir.”

And after I turned 25, I still called policemen and every man with a title, “Sir.”

We were before dual careers, daycare centers, and group therapy.

Our lives were governed by the Ten Commandments, good judgment, and common sense.

We were taught to know the difference between right and wrong and to stand up and take responsibility for our actions.

Serving your country was a privilege; living in this country was a bigger privilege.

Having a meaningful relationship meant getting along with your cousins.

Time-sharing meant time the family spent together in the evenings and weekends -not purchasing condominiums in Hawaii.

We never heard of FM radios, tape decks, CD’s, smartphones, or video games.

We listened to Big Bands, Jack Benny, and the President’s speeches on our radios.

The term ‘making out’ referred to how you did on your school exam.

Pizza Hut, McDonald’s, and instant coffee were unheard of.

We had 5 &10-cent stores where you could actually buy things for 5 and 10 cents.

Ice-cream cones, phone calls, rides on a streetcar, and a Pepsi were all a nickel.

And if you didn’t want to splurge, you could spend your nickel on enough stamps to mail one letter and two postcards.

You could buy a new Ford Coupe for around $700, but who could afford one?

Too bad, because gas was 11 cents a gallon.

In my day, “grass” was mowed, “coke” was a cold drink, “pot” was something your mother cooked in and “rock music” was your grandmother’s lullaby. “Hardware” was found in a hardware store and “software” wasn’t even a word.

No wonder people call us “old and confused” and say there’s a generation gap.

So, what do you think of that? I’d say things have changed a bit and not necessarily for the better. I remember visiting my Grandma and Grandpa when I was young and those are some of the best memories of my life that I wouldn’t trade for anything. Even at my young age I could tell they were such good good people. You’ve heard the saying “the salt of the earth”, well I’m not entirely sure what that means but I’m sure it referred to them!

I wonder if we’ll come full circle (like fashion does) and get back to a time when a handshake meant something, when a man always opened the door for a woman, when neighbors helped neighbors. I don’t know but I do notice that life and people in small towns, seem to be closer to this than those in the city. I wish for that for my kids.

Oh well, everything changes, so I guess there’s hope! Lori’s back at work as am I. The boys are busy getting their school stuff ready and their rooms deep cleaned. We’re doing surprisingly well with no tv’s or video games in the kids rooms. Fall will be here before you know it as will the holidays. Hope you all have a great week, take care and God Bless.

We woke up early and walked down to the famers market. On our way down the kids (who went earlier) were on their way back. They wanted to go stand up paddle boarding on the Colorado River but when we called it was too expensive. So off we were to Lori’s long sought after hike. We were told the first few hundred yards would be steep but then level out. Turns out the whole 2 1/2 miles to Booth Creek Falls were pretty darn steep.

Luckily we dropped Ty at the Marriott where Ben was staying so it was just Jennifer, Jagger, Lori and I. Turns out Jagger is part mountain goat as he could have run up the whole thing. He kept getting so far ahead of the three of us that we had to keep yelling at him to wait! I was ok and followed Jag on the way up with Lori and Jen behind me. We only had two bottles of water and two power bars (could have used 6 or 8 of each) so we rationed it along the trail. When we reached our destination, it was well worth it. The falls were beautiful along with all the wildflowers, it looked like Switzerland. Lori will post pictures later. Then we were headed back which meant down. Turns out going downhill is much harder on your knees and feet. Lori’s pretty manicured toenails were so long they cut a hole in her tennis shoe! Her knee is really bothering her and Jen is pretty banged up also. I’m ok this morning and of course so is Jag. It took 1 1/2 hours to go up and an hour to get down. We were all so hungry and thirsty when we got down we could have eaten a horse and drank a pool. Jag and I went ahead on the way down to get the car and drive it up to the trail head to pick up the girls as once down, we had to park a ways away. It was 5 miles round trip.

We all headed home and then after slugging down two liters of Fresca and water, headed off to the free bbq at our friends son’s grand opening of his business. Soon after we arrived, and ate, it started to rain so we left, which was good. Then we went to get Mr. Ty and Ben as the kids all decided they had another hike in them! I don’t think Jen wanted to go but peer pressure forced her to. So off they went up the hill to Lionshead. This was a short hike, only 30 minutes up and back each way. On the way up Ben’s asthma was starting to flare up so Jag brought him down while Jen and Ty proceeded to the top! By 6 they were all down.

Lori and I then went into town for a quick bite to eat at an account I needed to see. We sat at the bar and were in and out in an hour. Then we picked up pizza’s for the kids and headed back to feed them. Soon we were all asleep as everyone was really really tired. This morning I feel ok but my calves are tight. Lori is sore everywhere and Jen is still sleeping. I’ll get everyone on the road by 9 or so to miss traffic. What a fun weekend. Hope yours was too! God Bless from God’s Country.

It’s a bit after 8 and it took me a minute to set up a personal hot spot through one of our phones to gain internet access here in the mountains.

Yesterday we arrived in Vail around 2:45 and proceeded to clean up and get organized. The two boys and Jennifer (Jaggers friend) went straight up the mountain and then down to the river exploring everything in sight. Soon it was 6pm and we were supposed to be over at out new friends Andrew and Amanda’s place for dinner at 6:30. He’s an anesthesiologist and she’s a nurse who live in Denver most of the time. I met Andrew through one of my friends and they invited us all over for dinner along with our mutual friends. Lori had never met him and neither of us had met Amanda. Anyhow when we showed up at their house in East Vail, there was Heidi, our friend who’s also an anesthesiologist who we’ve known for a couple years! She was shocked saying when they said that a guy named Doug and his wife were coming over, she had no idea it was us. Heidi only met Andrew and Amanda and my close buddy Rik and Debra (who were also there) this July 4th. what a small World, and it’s going to get even smaller, read on….

Turns out Andrew was a musician in Seattle when I was in the music business in the 1980’s! We knew all kinds of mutual friends and reminisced about all kinds of places and events. We both decided we must have run into each other hundreds of times. On top of that, they both love to hunt! They go to Africa for work (on a program to help kids) often and have hunted extensively over there. Hence the house was full of African animal mounts from various excursions. He asked if I like to hunt birds to which of course I said yes and he also belongs to The Bluffs, which is the ultra exclusive hunting club outside of Denver. I’ve never been there as you need to be a member but it’s a really nice place. So now thanks to them, I can go whenever I want, whoo hoo!

For dinner we had some fantastic buffalo stew thing (Amanda shot) over some cous cous, but before we had some great cured meats and salmon that they cured themselves. By now you can tell I was having a great time as these guys are right up my alley! Meanwhile the kids we’re all playing outside with their 5 month old black lab puppy who is going away to get trained as a bird dog this Wednesday for 2 months. When dinner was over Jagger asked Amanda if he could clear and wash his plate and she was blown away with his manners saying she’s never had a kid ask to do this! Of course both boys introduced themselves and shook everyones hand when we arrived. We get lots of compliments on the boys always but it’s really my dad who should be getting them as he instilled the shake your hand thing in me, I just passed it on. About 10pm (the time flew) I said we need to go and we all wrapped it up. Our friend Heidi has had a rough year (you might remember her from when Bocelli was in town and she went backstage with us to check on one of his kids feet), as on Memorial Day her dad died, then on Fathers Day, her grandma passed and then she had some weird blood disease where she had to gain weight so they could harvest some stem cells to treat her. She has been really sad but was thrilled to see us and the boys. She hugged Lori and I both a bunch.

So today we’re headed to the farmers market and then to a bbq with a band around 1. Rollie our friend from Denver is up for the party (with the band) as it’s her sons grand opening of his (now legal in Colorado) pot shop! There’s no pot of booze but lots of festivities. So Rollie has a room at the Hyatt Beaver Creek and we’re taking the kids swimming. It’s good to be a kid these days. Lori also wants to get a hike in but we’ll see. Tonight we’re supposed to go to our friends restaurant Ti Amo. I sometimes would bring my Mom the scallopini from there when I am up here.

Well that’s it, kids are stirring and I need to get showered to get them to the farmers market. Hope all’s well, God Bless.

Early in the day, a bit after noon, it hit. The boys and I were on a road trip to Boulder and then around to Longmont before heading south on I-25 to Denver. Coming into town we hit it, hard rain and lightening. We made it home around 1pm and then proceeded to clean up the house.

We were all set to go to the Broncos game and then all hell broke loose. First up Mojo who has lost some hair and chewed his skin raw was losing his fur in other areas and itching badly. We’re not sure what’s going on, dog lice, fleas? We don’t think so but he’s awful itchy so we needed to brush him everywhere and he’ll go to the vet Monday, super. Then I had an emergency at work (in Italy) and was stuck on the phone and Lori had a problem or two at work. So we ended up staying home. Good thing we did as after 10 minutes of football there was a rain delay for over an hour! God were we glad we were not there!

This morning we’ll be packing up to head to the mountains after another conference call with Italy from 9 to 10:30 due to the aforementioned emergency. We’re planning on hiking and swimming and other outdoor activities over the next few days. It’s kind of the last hurrah before school although I do have an industry tasting next Friday in Aspen.

Lori slept in Ty’s bed last night and didn’t wake up with a headache. So it looks like it’s Ty and I in our bed until we can get a new one! Our friends in Vail are having us all over for dinner tonight so that’ll make it easy and hopefully be fun.

Hope all’s well with everyone, take care and God Bless

Today it’s more of the same, a few accounts to see, a little driving and some school shopping for the boys. Lori will be back at it and then tonight we have the Bronco’s Seahawks pre season game! Hope the weather is ok.

Yesterday Jag had his follow up appointment with the orthopedic doctor who gave him a clean bill of health on his wrist. He is supposed to wear the brace on and off and he’ll be sore for the next 3 or 4 weeks but looks great. After that we went to Manning for registration for Jag and then off to Ty’s school to get him all signed up as well. Both boys are excited. We’re really excited for Jag though as it’s a whole new school. They had 8th graders there to help answer any questions. They were mostly girls all decked out in Manning t-shirts and you could see them checking Jag out and giggling. So, here we go, looks like girls will be one of his subjects this year! Don’t anyone say anything to him! It’s not good to tease him at this age and besides that’s one of the pleasures of being a parent!

After that Ty and I dropped Jag at his math study. Turns out he breezed through the homework which was about 6 weeks into his new school year. The only problems he missed were ones where he didn’t read the instructions carefully. Sometimes he just goes too fast.

I managed to get the laundry, dishes and cleaning done on top of my work. You just do what you have to do, right? We even took my Mom a chocolate shake as it was so hot and I took the boys for ice cream after math.

The rest of the afternoon was spent changing passwords on a bunch of my accounts due to the breach of 1.2 billion passwords by some Russian gang. I would suggest you do the same if you bank on line or even use Amazon or any other web site that has access to your credit card numbers or social security numbers. This is one area where my Mom is totally safe as I don’t think she does anything on the net except read the blog and an occasional email. Sometimes it’s good to be old school!

Time to run, it’s trash day and I have to gather up some more wine samples to drop off in Boulder, Lakewood and Longmont today. Hope all is well, take care and God Bless.

I think it’s Wednesday, yea, that’ right. We have so much going on it’s hard to remember. Today Jag has his follow up appointment on his arm, and his math class. Ty has a lot of work in his room and both boys need tennis shoes and some clothes and ah yes, the bed, the damn bed. It still needs to go.

Yesterday Jag and I made it back from Vail around 11:30am. We then decided to get haircuts as Jeannie (who cuts our hair) could get us in right away. After that we picked up Ty (and Ben) from Ben’s dad’s new house. (parents are getting divorced) I keep forgetting to tell you all that when Mojo came home from the groomer he had some hair missing from his back. Within a day he itched or somehow scratched it down to raw skin. There goes a few more hundred bucks plus he needs his shots anyhow.

Meanwhile things are not good around the Country. Lots of people are showing signs of the disease from Africa and no one believes the govt is telling us the whole truth. A Russian gang just stole 1.2 Billion internet passwords, British Air has suspended flights to a few countries and some people in the U.K. are quarantined, Oblama’s approval hits a new low, (I spelled it that way on purpose) , we as a country are paying $7 Billion, that’s right, $7 with a B, Billion dollars in interest on our debt every week, and most goes to China, the Netherlands and other countries that hold our debt, a 2 Star General was killed in Afghanistan yesterday, a Principal was fired for telling students to speak English and on it goes. I could keep citing headlines but I think you get the picture. There’s much worse going on out there but most people don’t want to face the facts.

This is all our own fault to as we’ve become a country full of people that are more interested in the pursuit of self satisfying pleasures (new tv’s, big houses, fancy cars, and other materialistic items) than having a healthy functioning society. This goes right up the ladder to numerous CEO’s and companies that will do anything, even produce harmful goods whether it be food, cars, toys, whatever, for a profit. Now I’m the furthest thing from a socialist but people need to take responsibility. Everyone needs to ask themselves what can I do to make the World a better place, today. This can mean what can I do to make my household, neighborhood or community a better place, I’m not asking you to come up with something that’ll change the World, but individuals do do it everyday. So, let’s turn this mess around one small task at a time. You may think something as small as you buying American or picking up some trash you walk by on the street, or helping a neighbor, doesn’t mean anything but imagine of everyone did one small thing! Ok ok, I’ll stop now. Today I have lots to do to make our household better (and safer) as I’m determined to stock up on some additional supplies that the family (mine and extended) should have, just in case. For all of you living in California, you’re going to have to get here to Colorado for me to help you! I should be able to take care of those living here already. Make plans now just in case you have to leave for some reason, at least keep you gas tanks full at all time, just to appease me, ok?

Take care and God Bless.

I’m writing this Monday night as I need to leave by a bit after 6am “today” (when you’re reading this) for Vail. I hope to be back by 11-11:30 at the latest. I’m so slammed at work and will be probably until at least the first of October. I moved so much wine yesterday I think I have a hernia! It’s probably just a pulled muscle from the gym.

I did manage to get two loads of laundry done, all the dishes washed and kitchen cleaned, made it to the grocery store, stopped by Ty’s school and went to the distributor after the gym at 6am. I also, and this is the worst part, paid another freakin 4 figures in medical bills. Luckily I’m conditioned to this type of stuff as it’d kill a normal person!

Meanwhile Lori was busy saving the world at her office. She too has a lot going on as usual. I think we already need another vacation. I was going to dive into politics but think I’ll give it a pass. This afternoon Ty’s supposed to have a friend over, uggh. Jagger had a good math session and is working on some problems that he won’t get in school until about mid October to get ahed of the game.

Guess I’ll run as it’s 7pm and I need to get off electronics!

Stay safe and God Bless,

Well 2 weeks from today, school starts. So yesterday we printed out each guys list from the computer and headed out to get supplies. $581, two stores and two hours later, we were home. This of course is on top of the $150 in fees I had to pay the County or school district the day before. I still need to go pick up Jagger’s bass clarinet for another $60 a month, buy both boys some school clothes and then, I think, we should be done. I don’t remember having to buy so much stuff when I was a kid. Funny, or not so funny, is our school taxes have gone up every year but so has the amount of things we need to buy, hmmmm. If the govt was a money manager in the private sector, they’d be fired!

It’s now 5am and I’m headed to the gym and then will go straight to the distributor and be back here a little before 8 if traffic cooperates. Jag has his math tutor at 10:30 and I have lots of work to do.

As I said, the reunion was fun, Harry came by yesterday morning to say goodbye before driving back to Colfax, just an hour or so from Grandma Dixie. The weather this week is a bit cooler and tomorrow am I’m off to Vail around 6:30 and hopefully back in Denver by 11 at the latest.

There’s other stuff going on but I can’t think of it right now. We, or I, still need to figure out how to get a new bed for the misses, to help her head but all the school supplies put a wrench in that one. We’re supposed to get rain with lightening for Thursday nights pre season Bronco football game. We’re not too happy about this as it’s no fun sitting in the rain.

Guess I’ll give you all a pass on politics today but the gloves are off tomorrow! Hope everyone had a good weekend and is doing well. It’ll be fall and then winter before we know it. Time to start preparing now, more on this to come. Take care and God Bless.