The "Good News" on A Holiday ........................

It's Monday -- and a holiday here (Memorial Day) -- as a result we did a little shopping, I watched the Yamkees win (Colon pitched a 3 hit, complete game, shutout -- pretty good for a guy who was "washed up).

As a result, I'm rather lazy. Nothing original, not too much digging ---- soooo, Here are some tidbits from "Some Assembly Required". If you haven't bookmarked the site yet - do so NOW!!

As always, please follow link to original
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Inscrutable: TEPCO officials admit that the remains of the Fukushima nuclear power plants are not ready for the high winds and heavy rains of Typhoon Songda. They are already very sorry for the additional devastation.

15 Minutes: After being ignored for 25 years, Gil Scott-Heron is suddenly the great American protest poet (move over Bob Dylan). “The Revolution Will Not Be Televised” is cynical enough to serve as an appropriate commemoration of his life and art.

Funny Money: Through Fannie and Freddie and FHA, the US government makes or insures 95% of all home loans. If they did not, 30-year mortgages would not exist – in today's economy what bank would take the chance that a borrower would have a job next month, much next year and the years after? Maybe there might be 10 or 15 year loans, with 25% down. Maybe. So all this talk about doing away with Fannie and Freddie is just that, talk. Almost makes you question the American myth of home ownership. Almost.

600 Pound Gorilla: This weekend the MSM and the blogsphere were full of dueling experts predicting this or that resolution of the Greek drama. Most try to squeeze it into a comedy simply because the tragic outcome is unpalatable. Either the IMF will or will not... Either the European Union does or it does not... Either the Greeks will or will not... Either Germany will or will not... Either the bankers take a 50% haircut, or they don't... Phooey. The Greeks cannot repay their debts, thus they will not. Either Germany comes to the rescue, holding its nose, or it does not. Either the Greek citizenry revolt, or the German taxpayers do. Or both.

Swept Away: Rainfall in the Yangtze river basin is 60% below average so far this year. If the basin does not receive significant rainfall by June 10th, the massive Three Gorges Dam will lose its ability to relieve the effects of the debilitating drought on 34 million Chinese. Built primarily to produce hydroelectric power, that function is already being reduced to provide water downstream.
Investment Principle: Investors in China should not worry about such things as civil war, epidemics, panics, depressions, all of that. But drought, now that's serious.