| John's Page on the Net |
| Examples of my photography work |
| (Click on picture for larger image) |
| "As water reflects a face, so a man's heart reflects the man" Proverbs 27:19 |
About me:
I worked for the same aerospace company for 30 years, electronics / aerospace. Now back in college, enjoy learning. Books I'm listening to, reading or haven't started. I've made each a link to sites about the book. 1 The Time Traveler's Wife A man with a genetic defect causes him to time travel in and out of his wife's life 2 The World is Flat Very good book on jobs being outsourced. The book I was on when I was laid off :) 3 The Subprime Solution 4 The Trillion Dollar Melt Down 5 The Grays haven't started it yet, about aliens from outer space visiting. 6 McMafia: A Journey through the Global Underworld Have read the first chapter, good so far. 7 13 Things That Don't Make Sense Very interesting. We live in a strange world. 8 Spin (a great Sci-Fi book). 9 The Host Haven't started yet, about aliens taking over peoples bodies, seems like "The Body Snatchers" |
| Family Christmas 2007 |
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SIGNL@yahoo.com |
| A 15 min video from 60 mins which aired 10/05/2008. It's about what has happened with the credit market, the foolish risk Wall St and our government has taken. This is "Wall Street's Shadow Market" and it's scarier then a Stephen King novel! |
| In 2004 the SEC had a meeting to increase the risk that financial firms could take. Listen and watch the slide show from the actual meeting. You can hear laughter in the background when they talk about the risk. This is from the New York Times 09/2008 The slide show is about 5 mins. Click the link: THE DAY THE S.E.C. CHANGED THE GAME |
THE MARKET MELT DOWN
| Understanding Credit Default Swaps Credit Default Swaps What Warren Buffett said about them: Warren Buffett famously described derivatives bought speculatively as "financial weapons of mass destruction." In Berkshire Hathaway's annual report to shareholders in 2002, he said, "Unless derivatives contracts are collateralized or guaranteed, their ultimate value also depends on the credit worthiness of the counter parties to them. In the meantime, though, before a contract is settled, the counter parties record profits and losses-often huge in amount-amount-in their current earnings statements without so much as a penny changing hands. The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen)." |
| My message to everyone: With all that is happening in the market and the economy I'm telling people to get ready just in case the system does break down. I'm NOT saying to build a shelter and hide or buy 5 tons of rice! You can do your grocery shopping 3 to 4 months or more in advance. Buy ONLY what you use anyway, so you don't waste money. Pasta, rice and canned goods can last 2 years on your shelf. If the economy gets really bad, you won't be wondering where your next meal will be coming from. I'm not saying to panic, just be prepared. If the market does correct itself, you haven't lost anything, no need to do grocery shopping for awhile. It's a win / win. It doesn't hurt to have extra food at home and it can buy you some time IF things get bad. Buy what you normally use, buy a few extra boxes of pasta or rice, (maybe 5, and don't forget the sauce :) ,keep them on the shelf. No need to do it all at once, just keep adding to what you already have. This is just common sense, don't let anyone tell you you're just panicking and nothing is going to happen, you're being prepared! No one knows what the future will bring. |
Another 60 Minutes video which air 10/26/2008 on the credit default swaps