- History may not repeat, but it sure rhymes.
- Mark Twain / John Colombo
No truer words
The moment our last article was published on Google about the strange connection between market downturns and fraud, we read the following story. New York exposed crimes associated with food stamps (SNAP). One government employee working with five EBT terminals worked to steal over $66 million in the supplemental nutrition assistance program. These terminals connect to stores that accept the food stamps. The thieves altered application documents and used the EBT terimals to connect to unauthorized stores and other ways to grab over $66 million from poor people who need this help. From the info, we feel more crooks will be arrested. Good work!
New Idea
This is wild and crazy stuff. A Swiss startup, Enerdrape is using panels with their formula that collects heat. They can use the heat for winter to warm a building or store the heat to keep the structure cooler in summer. They specialize in developing subway space or older, mutifamily dwellings. It works like a heat pump. It is expensive to install, but it can lower the hourly rate of electricity from 17-cents to 03-cents.
Not Everyone...
is onboard to green energy. President Trump is anti-wind because he does not like its look and solar. We do not know why he is against this excellent energy source, but he has directed the Department of Agriculture to stop giving farm owners permits to install wind or solar on their farms. Trump may be for oil, but we feel there is room on the energy pie for all sources. We need all the energy that we can get. Alternative sources of energy are not only cleaner, but its cost comes down with use and innovation. Germany is a cold climate nation and it still gets over 15% of its energy from solar. Consider it only received less than 2% in 2010. We need to use the sun. It helps in so many ways.
Old Ego
It didn't take long for the ego of Fed Chairman, Powell to adjust his thinking on interest rates. His Jackson Hole speech is basically asking to keep his job by going along with Trump's views. So much for the so-called independence of the Fed. By the way, it never is independent. Chairman are appointed because they share the views of the appointee - just like the Supreme Court. We hate it for what it is, a backup for the rich and banking. It destroys the value of money and our standard of living by excessive printing. We say, "End the Fed!"
Connected
The talk on interest rates centers on inflation. We told you that it is not going away. We expect another wave to hit our shore. Well, Powell says he wants a 2% target on inflation and he has not met that goal. We predict that the target rate will be adjusted to 3%. With that said, we ask you to look at the price of McDonalds Big Mac. Not only do we worry about the price, but whether is the burger still real meat or that vegetarian, lab crap? Anyway, the price for the Big Mac Meal is a whopping (Fun pun with competition) $14.39. Yikes!
Job Hunting
Risk management and assessment for the insurance industry will be a growing opportunity, especially with global hacking and climate dissaster that is connected to litigation. Something to consider?
In a related aspect of employment, we offer a shoutout to newly ordained Maryknoll priest, Fr. Matthew Sim from Singapore. His unheralded work will be in Taiwan. We wish him well in the potentially dangerous assignment. He has special parents who flew halfway around the world to attend his ordination. We take comfort in realizng His wish is fulfilled, "To teach all nations." Peace.
