Archive for September 23, 2008

Chronicles Of Depression 2.0: #227: Sign

September 23, 2008

Chronicles Of Depression 2.0: #227: Countdown

September 23, 2008

OK, it’s time to call it.

Tomorrow is Day T-Minus Ten.

Ten days.

The final ten days of what everyone has come to think of as “normal.”

After that, everyfuckingthing goes into the toilet.

These are the ten days Congress has to get its shit together and create the alleged bailout.

After that, inertia will take over and everything crashes.

Yes, the bailout will FAIL anyway. But it can buy time.

And maybe that time will bring forth a real solution.

But without that time, ten days is no damned chance for anything.

You better have ample cash and food on hand.

Think now. Think fast. Think hard.

Just Call It TechCrunchMeme Already

September 23, 2008

So I go to TechMeme and I see this:


Click = big

And I immediately do a double-take, because I know this.

Sure enough, I go look and see:


Click = big

I came across that video on Veoh months ago. Here it is, time-tagged in my Favorites.

Google was designed in 1997 Feb by Larry Page, Sergey Brin, and me (Hubert Chang). I received my Ph.D. in … computer science form New York University. http://www.cs.nyu.edu/~hubert/ Larry Page, Sergey Brin were introduced to me through Prof. Motwani of Stanford Computer science department. Prof. Motwani visited NYU in 1996 summer; that’s how I met Prof. Motwani. Through intensive collaboration with Larry and Sergey, Google was designed. The plan includes the search engine algorithm, business model, the name of the company, a graduate school like corp culture, the outline of system architecture and Google’s growing path. Because I had personal cause to pursue for Ph.D., I told them I will contact them years afterwards, assuming I have finished my Ph.D. In late 2002, I got my Ph.D. from computer science department of New York University… Details… please watch the video. Larry’s homepage: http://infolab.stanford.edu/~page Sergey’s homepage: http://www-db.stanford.edu/~sergey

And at that time, I emailed the URL around to many people. Some of which are known names of that A(sshole)-List.

Didn’t anyone give a shit?

Did they fuck.

But now, today, on the day Google announces their phone, it comes out?!

Hey, so much for investigative journalism.

So much for the pursuit of truth.

So much for all you tech fuckheads.

Chronicles Of Depression 2.0: #226

September 23, 2008

Found this on Wil Wheaton’s blog: REQUEST FOR URGENT CONFIDENTIAL BUSINESS RELATIONSHIP

Damn, I didn’t know the government had a Nigerian Email Scam Option!

We’re all saved now!!

Quote: Sheldon Kopp

September 23, 2008

Right now, this is the solution to many things.

Sheldon Kopp

You only get to keep what you give away.

iPhone Heart Monitor Application

September 23, 2008

iPhone Heart Monitor Application

I doubt he saw my earlier post: iPhone Developers: One For You To Make!

Chronicles Of Depression 2.0: #225

September 23, 2008

What if the bailout plan doesn’t work?

Lawmakers raised doubts Monday about what would be the largest government bailout in American history, but a bigger, more terrifying question lurked right under the surface: What if it doesn’t work?

Failure, says one insider, is not an option.

“The alternative is complete financial Armageddon and a great depression,” said a former Federal Reserve official. “Where do they go after this? Well, the U.S. government could nationalize the banking system outright.”

Emphasis added by me.

What the fuck do you think I’ve been screaming about since January?!!?

While almost no one wants to dwell publicly on the possibility that a $700 billion package could simply be too small to forestall a financial meltdown, privately some aides were already thinking of what the government might do if the Treasury plan passes but fails.

Emphasis added by me.

And you’ll hear it here first now too: The bailout will FAIL.

They are applying old self-destructive greedy solutions to a problem that requires — for lack of a better business-y term — massive amounts of Slack.

Slack!

This is not something any of them are prepared to give.

And since they want to keep holding tight, they will strangle to death the very thing they’re trying to save.

They are seeking a logical solution. This requires a stochastic solution.

Unless, so disgusted with themselves, they invoke Spite and burn down the entire fucking jungle.

I have news for them:

Every single one of you will understand when all the ATMs stop working.

Wait until you have to go around asking people for money — just like the homeless!

And that will be only the beginning of your humiliation!

Chronicles Of Depression 2.0: #224: eBooks NOW!

September 23, 2008

Bloomberg Asks City Agencies To Cut $500M From Budget

From schools to police to the fire department, New York City agencies have been told to sharpen their budget axes.

Mayor Michael Bloomberg has asked city agencies to cut $500 million from their budgets this year and $1 billion next year, a high-ranking city official tells News 4 New York. Bloomberg asked his commissioners to make deep cuts in the city budget in response to the Wall Street financial crisis.

“The credit crunch which began over a year ago has worsened, and has led to increasingly serious losses on Wall Street,” the letter that the mayor’s budget director Mark Page sent to city all agencies said. “Hopefully the recent market extremes will run their course sooner rather than later. However, the institutional and market changes in the finance sector are likely to reduce employment and taxable revenue from this sector well into the future. This will hurt New York City because of our reliance on tax receipts from this sector of our local economy. The generally worsening outlook for the national and international economies is also likely to affect our revenue.”

It’s not in the web story, but I just heard it on the televised report.

This year: $8 million cut from public libraries.

Next year: $16 million cut from public libraries.

Don’t scoff at that.

New York City’s public libraries are packed during economic hard times. That’s where people go to access the Internet they can no longer afford at home. That’s where they create and email their resumes. That’s where they look up business information to target their resumes.

Ironically, during these times when public libraries are needed more than ever, they get their budgets slashed and that translates into fewer days open and fewer open hours per day.

Come to New York City during this budget strangling and you will see lines outside the main libraries before opening that rival the Apple Store.

Chronicles Of Depression 2.0: #223: CitiGroup Blinks

September 23, 2008

I’d been waiting and waiting and waiting for something to come out of CitiGroup.

The losses there would scare the living shit out of you, if you knew the full story.

Now they’ve blinked.

Word in is that the Old Lane Hedge Fund — which CitiGroup acquired in April 2007 — is being shut down.

Ironically, a memo that was sent around to employees made the New York Times just last week: Pandit Memo Seeks to Rally Citi Employees

Here’s an interesting take on that hedge fund:

Recently, Prof Peter Morici wrote in Finfacts: …the banks’ problems are much deeper and far reaching than their losses on subprime securities. Citigroup’s losses on Old Lane hedge fund provide a classic illustration. To attract CEO Vikram Pandit, Citigroup purchased Old Lane for $800 million. Although the fund never made much profit, the transaction netted Pandit $165 million. Subsequently, Citigroup wrote down more than $200 million in losses. Pandit used some of his proceeds to purchase the late actor Tony Randall’s Manhattan apartment for $17.9 million, and Citigroup shareholders took the loss. Nothing Bernanke has proposed will stop that kind of reckless behavior, which has nothing to do with the subprime debacle.

The greedy chicken comes home to roost.

And here’s some recent behind-the-scenes CitiGroup action: Krawcheck departure sparks Citi shake-up

Much more to come, I’m sure.

Banned Books Week Coming Up

September 23, 2008

Banned Books Week website

Previously here:

The Urgency Of eBooks