Author: Alan S. Russet

Google’s driverless car coming to California too

~ Alan S. Russet

A California state senator plans to arrive at a press conference at the Sacramento capitol today in a Google Inc.-modified Toyota Prius that drives itself.

The announcement of new legislation by Senator Alex Padilla, written with Google’s input, is timed to coincide with new regulations allowing the world’s first autonomous vehicles to be road-tested and registered in neighboring Nevada

How many millions more men unemployed? Eliminating expensive human drivers (especially truck drivers who are unionized teamsters) is what makes this technology so attractive to the captains of industry. Otherwise development of the driverless car technology would just be the subject of sci-fi.

Down to the wire on the Omnibus spending bill

~ Alan S. Russet

There are two outcomes I can see for the House and Senate budget fight: (1) Compromise; (2) Punt.

“Compromise” would involve significant budget cuts. For example, the IRS budget shows that the House and Senate have agreed to an overall ~ 5% cut — they just need to agree what to cut. The House has completely defunded the Patient Protection and Affordable Care Act and Health Care and Education Reconciliation Act of 2010 (ObamaCares). This is where the battle will occur, since the Senate has only defunded outside collection agencies.

“Punt” would involve another Continuing Resolution. And more waiting. For those of us who work for the federal government, the wait is tense. No one really knows where the cuts will be or if it will affect them.

Fed gave banks billions in secret. Eurozone crisis

~ Alan S. Russet

Secret Fed loans gave banks $13 billion undisclosed to Congress

The Fed didn’t tell anyone which banks were in trouble so deep they required emergency loans of a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars at the same time they were assuring investors their firms were healthy.

Goldman urges bet against Euro junk debt

Does the euro-zone need a political and fiscal union? The comments on this poll from The Economist are excellent.

Does Europe need a fiscal union? What could possibly go wrong with a plan by the bankrs to dictate to EU countries what their budgets will be.

Breaking up is hard to do

The financial crisis has exposed cracks in the currency as certain European countries saw their economies spiral downward faster than others. Now UBS economist Paul Donovan takes a provocative look at the pluses and minuses for the world’s second largest reserve currency.

Your Daily Doom, Gloom, and Corruption report

~ Alan S. Russet

ECB’s policy makers say they can’t do much more to stem financial crisis

Italy bond attack breaches Euro defenses as crisis worsens

Alabama’s Jefferson County declares biggest municipal bankruptcy (brought to you by the Wall Street)

What caused the financial crisis? The Big Lie goes viral. (Barry Ritholtz of The Big Picture in The Washington Post.)

Why Wall Street can’t handle the truth

Cats looking for homes. San Jose area

~ Alan S. Russet ~ 1 Comment

Three wonderful foster cats need a home. Will transport. Contact Bob for details or leave a comment here.

Sweet Sadie loves to lounge. Very companionable. Her former person cried buckets when she surrendered her to Cat Connection — her home had been foreclosed and she went to live in a no-pets apartment. We are doing all we can to find her a new loving home. Sadie is ~7, a black and white tuxedo kitty, FLV/FIV negative, healthy and spayed.

Named for a muse of the theater, Miss Thalia will be the grande dame of the home. She welcomes guests at the door, and cheerfully chatters away and plays with them. ~7 years old Burmese mix – a long-lived breed with few health problems . Spayed, vaccinated, FLV/FIV negative, recent dental cleaning.

This is Gila. ~ 1 year old traditional Balinese (silky-haired Siamese). Sweet mews not yowls, beautiful long proportions of the Siamese, very sweet and affectionate. Spayed, vaccinated, FLV/FIV negative. Operatic provenance despite her young age.