If you are an optimist with full faith that the economy will soon bounce back, later today may be a great time to buy some stocks in the Big Three American Automakers - in all likelihood, they should be going cheap.
Um, make that even cheaper.
General Motors Corp. may be in bankruptcy within weeks, followed shortly by Chrysler LLC, after the U.S. Senate rejected a $14 billion rescue plan and the companies’ options for survival dwindled.
“I dread looking at Wall Street tomorrow,” Senate Majority Leader Harry Reid said on the Senate floor in Washington last night. “It’s not going to be a pleasant sight.”
Can't speak for you, but as I see it, between every election from 2000 on all the way to this big eco collapse we are all caught in the middle of a big, bad disaster film remake from the 70's. It's like Poseidon Adventure, meets Earthquake, meets Wall Street except that last one wasn't a disaster film the first time around. But this rewrite sure is taking a weird turn.
It's gone from "greed is good" to "greed is ghastly" all in one fell year.
President George W. Bush must now decide whether to let the companies collapse or find another way to channel government funds. Minutes after the vote, he was pressed by House Speaker Nancy Pelosi and Reid to tap funds from the Treasury’s $700 billion bank-rescue fund.
However, there is still debate concerning whether that $700 billion was enough to float the economic boat or if it was just optimistic window dressing. Spreading it even thinner couldn't make anything better. Could it?
Connecticut Democrat Christopher Dodd, who helped lead the negotiations, said the final unresolved issue in the Senate talks was a Republican demand that unionized autoworkers accept a reduction in wages next year, rather than later, to match wages of U.S. workers at foreign-owned companies, such as Toyota Motor Corp.
While I do not often share the sentiments of Republicans, be they elected or not, my guess is that these Republicans have a good point. As a basic lefty loony I've been cranked off by the amount CEO's, CFO's and the rest of them make. To pay the leaders 400 times what the linefolks make is ridiculous. However, it is probably safe to say at this point, that all Gods' children got to suffer - whether they be rank and file or management. I simply doubt the books will balance otherwise.
Let me close with what we can all appreciate as the season's best understatement, this from Senator Harry Ried -
“This is going to be a very bad Christmas” for many people, Reid said on the Senate floor last night.
The secret world of dreams has been unlocked with the invention of technology capable of illustrating images taken directly from human brains during sleep.
As if advances in home computing alone have not been boggling enough for old guys like me some crazy, brilliant SOB's in a Japanese lab have come up with a new invention straight off the pages of Star Trek's Next Generation...
Or a dystopian Sci-Fi novel.
A team of Japanese scientists have created a device that enables the processing and imaging of thoughts and dreams as experienced in the brain to appear on a computer screen.
While researchers have so far only created technology that can reproduce simple images from the brain, the discovery paves the way for the ability to unlock people's dreams and other brain processes.
Frankly, I can see how my government (among others) would see this as a great opportunity to re-allot money from water boards to circuit boards if they thought they could easily and literally see into another's head.
Right now the technology is not in an advanced state. According to a statement from a spokesman at ATR Computational Neuroscience Laboratories this
was the first time in the world that it was possible to visualise what people see directly from the brain activity.
"By applying this technology, it may become possible to record and replay subjective images that people perceive like dreams." The scientists, lead by chief researcher Yukiyaso Kamitani, focused on the image recognition procedures in the retina of the human eye.
This means that currently the technology promises no boon to humanity nor threat to civil rights. Still, when the 8086 PCs of 1985 who thought the powerful quad core units of today a scant 20 plus years way?
So we might well see that people taking an unwelcome peak into your head might be less than a generation away.