Sunday, December 5, 2010

Feds Reserve/Economy/Facebook's new face

60 Minutes tonight: interesting show.

Top Feds Reserve guy interviewed. Yes he admits 9.8 percent unemployment is very bad, bad indeed. Admitted it may be 4 or 5 years before the USA is back to kinda normal percent unemployment. Realizes the Wall Street fellows and Bank guys are back making pockets full of money. They are the ones who like to say (well USA Government does also) we are out of the recession- they've been shouting that pie-in-the-sky declaration for some time now. He knows there is a "deflation" "inflation" argument going on. Feds Reserve is going to throw another 600 Billion yes with a "B" into the fan. This top guy says he believes he can control inflation, got this and that he can pull out in 15 minutes if needs be to put the breaks on inflation.  He says now is not the time to think about fighting the deficit - that's for the better economy days down the road. He believes the Tax Code needs to be restructured, whatever structure he has in mind. He says it was right to throw 3.3 Trillion with a "T" to banks, and all kinds of other companies, and that most of it has been paid back. But it ain't put jobs on the table for sure. He says the Fed Reserve is doing the opposite from what was done in the 1930s depression. Well....hum...maybe, but unemployment has gone up to 9.8 percent. When asked how the Fed Reserve allowed all this to happen in the first place 2 years or so back (actually it had been going on for about 20 years before it blew itself up), he admitted they were NOT looking at things like they should have been. Now that is quite some under-statement I would say (red face, red face for them). On the question of the gap between the rich and the poor is wider than ever, he really did not have much of an answer, well something to do with "education" - those with only High School 10% unemployed compared to University with 5% unemployed.
In the long term he sees the USA in a good position, but did add there are difficult years still ahead. Yes he's already said 4 to 5 years to get people back to work as it was before 2008. Well at least he's facing the reality of it all, which I've been saying for a while is more the reality of it all for sure.
I guess the USA people can take some comfort in knowing Britain and Europe are in the same boat with them. Canada at the present has a few extra sails than the others, and our Canadian dollar walks pretty well alongside the USA dollar, which means I can spend more on buying things from the USA ....wwwuuupppeee!! I can get more interesting and educational DVDs from the USA on things I'm interested in.

Tomorrow - Monday - Facebook gets a new face-lift. 60 Minutes interviewed Mark Z. the founder tonight.  There are at present 500 Million with an "M" using Facebook around the world. Some figure the Internet will belong to Mark Z. eventually.  In their new "offices" just one word up on the wall - Hack. As Mark explained "hack" means to build quickly. He employs 500 hackers - working sometimes into the late hours of the night - hacking away. He stole (if that's the right word, maybe not) 200 tech geeks from Google. Ah yes one expert says Facebook and Google are on a head-smashing course with each other.
And Mark did go to see the movie about himself and the creation of Facebook. He says a few things were correct but many things he views were wrong. But anyway he took his whole staff to see the movie. He says many people have contacted him to say it was inspiring, if he could do something like that, then maybe they can do something in life. People should feel they can contribute something positive in life, I fully agree. I saw the movie also.
The big guy twins in the movie are still upset and claim Mark stole their idea which they began in 2002, and Mark was working with them, and then in 2004 did his own thing with Facebook. The same "expert" that was on earlier thought nobody should feel sorry for the big boy twins - they did get 65 Million dollars. I agree that's a nice sum to retire on on your late 20s.

So tomorrow - Monday - a new facelift for Facebook - you can be out there with your friends and family even more, and no doubt more still down the road - photos, who your closest to, what's important to you, sports, and etc.

There is the question of "privacy" - and the experts and law people and who and what else, will battle that issue out I guess over the coming years. But look (pun intended) you do not have to wait for the Beast of the book of Revelation to brand you with 666, and some system that will track your every move.......why, starting tomorrow, you can throw out your every move, thought, idea, talk, and what-have-you FREELY yourself on Facebook for the whole world to see.  As for me I'm still trying to figure out the old Facebook and where everything goes, and to whom, when I post something. Well young people I know your going to have real fun with the new Facebook look. But please be nice when I go to the movies and turn off your cell-phones, iPads, and whatever else gives you a bright screen; most of you do, but now and again some "screen" "texting" geek tries to break the darkness and it is annoying to put it mildly.


  1. You LOVE the word "geek." LOL You use it for everything.

  2. Ya guess right now that is my "pet" word.
    There are so many geeks on there just geeking on all kinds of geeky stuff