Blog Smith is inspired by the myth of Hephaestus in the creation of blacksmith-like, forged materials: ideas. This blog analyzes topics that interest me: IT, politics, technology, history, education, music, and the history of religions.
Wednesday, December 30, 2009
Tuesday, December 29, 2009
Tuesday, December 22, 2009
Monday, December 21, 2009
American Press Pushed at Copenhagen
GIBBS: Hold on, hold on – I’ve got to get my American guys in because everybody else got in.
No no no no….
GIBBS: Those guys didn’t get in.
No no no no….
GIBBS: We’ll leave this meeting. Our guys have to get in like your guys got in.
No no no no…
Pokes his finger at the man he’s speaking to.
GIBBS: Our guys get in our just like yours. This is a joint meeting. Our guys get in, or we’re leaving the meeting.
They’re allowed in for 30 seconds and don’t get a very good shot.
GIBBS: Don’t push my guys.
The History of Christmas, in Five Parts
People all over the world celebrate the birth of Christ on December 25th. But why is the Nativity marked by gift giving, and was He really born on that day? And just where did the Christmas tree come from? Take an enchanting tour through the history of this beloved holiday and trace the origins of its enduring traditions. Journey back to the earliest celebrations when the infant religion embraced pagan solstice festivals like the Roman Saturnalia and turned them into a commemoration of Jesus' birth. Learn how Prince Albert introduced the Christmas tree to the English-speaking world in 1841, and discover how British settlers in the New World transformed the patron saint of children into jolly old St. Nick.
This documentary explores the origin of Christmas and how it came to be the way we know it today. The documentary also incites the thought as to how Christmas is on one hand a result of social, cultural, and political influences (hence somewhat obscuring the apparent purpose of the festival: Christ's Mass), and on the other hand a influence over people's lives (particularly consumerism).
This documentary explores the origin of Christmas and how it came to be the way we know it today. The documentary also incites the thought as to how Christmas is on one hand a result of social, cultural, and political influences (hence somewhat obscuring the apparent purpose of the festival: Christ's Mass), and on the other hand a influence over people's lives (particularly consumerism).
Part 1
Christmas unWrapped- The History of Christmas [2/5]
Christmas unWrapped- The History of Christmas [3/5]
Christmas unWrapped- The History of Christmas [4/5]
Christmas unWrapped- The History of Christmas [5/5]
Pew Report: 4 Out of Top 5 Most Religiously Restricted Countries Are Muslim Majority
NEW YORK - A new report has found that nearly a third of the world's countries have stiff restrictions on religious practice, either because of government policies and laws or hostile acts by individuals or groups.
That impedes the religious practices of 70 percent of the people on Earth, since some of the most restrictive countries are very populous.
The study by the Pew Research Center found that of the world's 25 most populous countries, citizens in Iran, Egypt, Indonesia, Pakistan and India live with the most religious restrictions.
The United States, Britain, Brazil, Japan, Italy and South Africa have the most religious liberty and the least government infringement and religion-based violence or harassment, according to the study.
That impedes the religious practices of 70 percent of the people on Earth, since some of the most restrictive countries are very populous.
The study by the Pew Research Center found that of the world's 25 most populous countries, citizens in Iran, Egypt, Indonesia, Pakistan and India live with the most religious restrictions.
The United States, Britain, Brazil, Japan, Italy and South Africa have the most religious liberty and the least government infringement and religion-based violence or harassment, according to the study.
Sunday, December 20, 2009
Stille Nacht (Silent Night) German - Sing Along, Nana Mouskouri
Stille Nacht (Silent Night) German - Sing Along, Nana Mouskouri
Obowma's ACORN
Traces of Nuts does a yeoman's job in explaining Obowma's hold on the U.S.: it is a work in progress.
Baucus States He Can't Verify if Senators Self-Certify Competency to Understand Rationing Bill
Baucus States He Can't Verify if Senators Self-Certify Competency to Understand Rationing Bill
Saturday, December 19, 2009
Congressional Candidate Lieutenant Colonel Allen West (please run for President)
Congressional candidate Lieutenant Colonel West speaking at the American Freedom tour in Fort Lauderdale Florida at the Revolution Nightclub.
Chavez Attacks U.S., again
noticias24 translated Chavez' comments:
That’s why we thank the president for giving President Morales and me a chance to speak.
It would have been regrettable if they had attempted to veto us in this meeting. I don’t even want to think about it, no, nor suspect it.
As Lula already said, the Kyoto Protocol can not be declared dead or extinguished, which is what the US pretends to do.
Which is why Evo tells a great truth: If Obama, Nobel War Prize, said here, by the way, it smells of sulfur here.
It smells of sulfur. It keeps smelling of sulfur in this world.
The Nobel War Prize has just said here that he came to act. Well, then show it, sir, don’t leave by the back door, eh?
Do everything you need to do for the US to adhere to the Kyoto Protocol, and let’s respect Kyoto, and empower Kyoto, and respond to the world in a transparent fashion.
Hugo changed his mind from the last time he spoke at the UN about Obama, when he was saying “It doesn’t smell of sulfur here. It smells of hope.”
Newsbusters reported the media’s silence:
Readers are advised that when Chavez made this comment about Bush in 2006, the media were all over it.
A Google search of “Chavez,” “Bush,” and “Devil” yielded over 40,000 results. There’s even a Wikipedia page about it.
This was such a popular media incident that when Chavez told the U.N. the sulfur smell was gone in September 2009 — a reference to Bush being out of the White House and Obama being in — the press had another field day with the story.
With that in mind, it should be fascinating to see how the Obama-loving media report this now that the tables have been turned on the object of their affection.
Friday, December 18, 2009
Without a Teleprompter, Obama Struggles, Gets a Neck Work Out
As one pundit suggest, for maximum comedic effect, mute the sound and watch Bammy give his neck muscles the workout of a lifetime.
Thursday, December 17, 2009
Wednesday, December 16, 2009
Tuesday, December 15, 2009
Monday, December 14, 2009
Christmas - Temptations
Give Love At Christmas - Temptations
The Temptations - Christmas Day
Temptations - Silent Night
Phil Spector Christmas
Darlene Love - Christmas (Baby please come home)
Santa Claus is coming to town by the Crystals
The Crystals - Rudolph the Red Nosed Reindeer
Marshmallow World - DARLENE LOVE
Christians Can Not Preach in Oslo
A Christian minister who has been arrested twice previously in Oslo for talking about Jesus in public now has been chased from the city center by police officers with the threat of yet another arrest if he returns, according to a lawyer who is working on his case.
Larry Keffer, who works through the Biblical Research Center in Tampa, Fla., was among a team of Christians trying to proclaim the message of Christ during the recent visit to the city by Obama.
Keffer, whose previous arrests came while he was working with Norwegian evangelist Petar Keseljevic and whose cases still are being challenged, was working with other American evangelists, including Ruben Israel, this week in Oslo.
Almost immediately, police agents told the evangelists to remove their banners and their signs, then move across the street, even though the nation's laws formally recognize freedom of speech.
Then, as the evangelists prepared to leave, they were told they were banned from the center of Oslo for 24 hours and would be arrested if they returned under any circumstances.
It seems that Oslo is not interested in permitting Christian speech in public areas during any outdoor event.
The previous encounter with police by Keffer and Petar Keseljevic took place last year. The two were sharing their faith calmly and quietly during the Norwegian Independence Day Celebration when officers made them leave the area of the Royal Palace.
Officers soon chased them down at a new location and arrested them.
They were convicted in Norway, but an appeal was filed with the European Court of Human Rights in Strasbourg, France.
'Ya Gotta' Laugh
What is an Economic Stimulus payment?
A. It is money that the federal government will send to taxpayers.
Q. Where will the government get this money?
A. From taxpayers.
Q. So the government is giving me back my own money?
A. Only a smidgen.
Q. What is the purpose of this payment?
A. The plan is for you to use the money to purchase a high-definition TV set, thus stimulating the economy.
Q. But isn't that stimulating the economy of Asia?
A. Shut up or you don't get your check.
Below is some helpful advice on how to best help the US economy by spending your stimulus check wisely:
If you spend the stimulus money at Wal-Mart, your money will go to China.
If you spend it on gasoline, your money will go to Saudi Arabia.
If you purchase a computer, it will go to India.
If you purchase fruit and vegetables, it will go to Mexico, Honduras and Guatemala.
If you buy a car, it will go to Japan or Korea.
If you purchase useless plastic stuff, it will go to Taiwan.
If you pay off your credit cards, or buy stock, it will go to pay management bonuses and be hidden in offshore accounts
Instead, you can keep the money in America by:
Spending it at yard sales or flea markets, or
going to baseball or football games, or
hiring prostitutes, or
buying cheap beer or
getting tattoos.
These are the only wholly-American-owned businesses still operating in the US.
Conclusion:
The best way to stimulate the economy is to go to a ball game with a prostitute that you met at a yard sale and drink beer all day until you're drunk enough to go get tattooed.
A. It is money that the federal government will send to taxpayers.
Q. Where will the government get this money?
A. From taxpayers.
Q. So the government is giving me back my own money?
A. Only a smidgen.
Q. What is the purpose of this payment?
A. The plan is for you to use the money to purchase a high-definition TV set, thus stimulating the economy.
Q. But isn't that stimulating the economy of Asia?
A. Shut up or you don't get your check.
Below is some helpful advice on how to best help the US economy by spending your stimulus check wisely:
If you spend the stimulus money at Wal-Mart, your money will go to China.
If you spend it on gasoline, your money will go to Saudi Arabia.
If you purchase a computer, it will go to India.
If you purchase fruit and vegetables, it will go to Mexico, Honduras and Guatemala.
If you buy a car, it will go to Japan or Korea.
If you purchase useless plastic stuff, it will go to Taiwan.
If you pay off your credit cards, or buy stock, it will go to pay management bonuses and be hidden in offshore accounts
Instead, you can keep the money in America by:
Spending it at yard sales or flea markets, or
going to baseball or football games, or
hiring prostitutes, or
buying cheap beer or
getting tattoos.
These are the only wholly-American-owned businesses still operating in the US.
Conclusion:
The best way to stimulate the economy is to go to a ball game with a prostitute that you met at a yard sale and drink beer all day until you're drunk enough to go get tattooed.
Sunday, December 13, 2009
Saturday, December 12, 2009
Advanced Austrian Economics
Advanced Austrian Economics has a worthwhile list of videos and additional information about economics.
"Downfall of Mother Bank," President Andrew Jackson
Graphic Notes: "Downfall of Mother Bank," depicting President Andrew Jackson holding up an "Order of the Removal of the Public Money" during the fight over the Bank of the United States, 1833. E.W. Clay lithograph.
Citation: American Antiquarian Society, 185 Salisbury St, Worcester, MA 01609-1634 and the Library of Congress.
Detroit: Obamaville
Chaos reigns at Detroit aid event
Thousands stand in line for help paying bills
BY TAMMY STABLES BATTAGLIA
FREE PRESS STAFF WRITER
Thousands of people swarmed Cobo Hall in chaos this morning trying to get applications for housing and utility payment assistance from the city of Detroit.
Advertisement
People fainted, others fought as the Detroit Police Gang Unit tried to keep people in line --- some since last night --- and in check.
Its a disaster here, former assistant Detroit Police chief and city council candidate Gary Brown said, handing out water. This is dangerous. Very unorganized, very dangerous.
The City of Detroit Planning & Development Department was to pass out 5,000 applications to those standing in line. But a line of people snaking back and forth inside Cobo, down Washington Boulevard and around the corner to the circular parking deck far outnumbered the applications available.
The program is part of the city's Homelessness Prevention and Rapid Re-Housing Program. By 11:30 a.m., the Detroit mayors office was asking people not to head to Cobo.
The assistance is paid from the city on the applicants behalf directly to agencies like the Coalition on Temporary Shelter, an agency that pays for transitional housing for the homeless.
Robyn Smith, community relations director for COTS, said the tremendous crush of people didnt sadden her.
Im happy because theres something available, she said as she collected filled-out applications from a doorway guarded by a Detroit Police officer to keep people from slipping in.
The applicants needed to be homeless or at risk of homelessness, and the assistance is temporary. The applications are due today, handed in at Cobo by 2 p.m. or mailed with an Oct. 7 postmark. The city was directing people with additional questions to call 313-224-0316, but no one was answering before calls to that number were automatically disconnected just before noon today.
Racquel Sawyers, 35, a laid-off engineer who worked for both GM and Chrysler, turned around and went home after seeing the crowd at Cobo. She had left another application distribution site on Detroits northwest side on Tuesday after seeing the line which turned out to be much smaller than the one at Cobo.
Who would have known yesterday would be better? Sawyers said. Currently on unemployment and looking for help with housing costs, she said shell stay in Detroit until shes able to land a job probably outside Michigan. Im just trying to do what I can right now.
Inside Cobo, lines led up to the Riverview Ballroom, where Detroit Planning & Development employees were to hand out applications.
But hundreds of people were packed outside the ballroom. At about 10:30, a fight broke out, and many of the people bolted away, scared in the crush of people.
Its bad. Its bad. It really is, said Kelli Phillips, 42, of Detroit, handing her application in among the crowd. All you have to do is look around and see it. Thats why a lot of people are moving. I love my city. I dont want to move. But I dont know. There's got to be something better.
Motown lines up for mythical cash hand-outs.
World Socialist report on Detroit.
Detroit wants "Obama money."
NYT Obama Nobel "Joke" and "Travesty"
David Brooks of the NYT states that the Nobel Prize by Obama is a "joke" and a "travesty."
Friday, December 11, 2009
Thursday, December 10, 2009
CNN: 61% Oppose Expensive Health Rationing
Check out these three queries:
* “Do You Generally Favor [The Senate Health Care Bill] Or Generally Oppose It? … As you may know, the U.S. Senate is considering a bill that would make major changes in the country's health care system. Based on what you have read or heard about that bill, do you generally favor it or generally oppose it?"Favor 36% Oppose 61%.”
* “Do You Think The Federal Budget Deficit Would Or Would Not Increase? … If a bill similar to the one that the Senate is considering becomes law, do you think the federal budget deficit would or would not increase?"Would Increase 79% Would not Increase 19% No opinion 2%”
* “Do You Think Your Taxes Would Or Would Not Increase? … If a bill similar to the one that the Senate is considering becomes law, do you think your taxes would or would not increase?" Would Increase 85% Would not Increase 14% No opinion 1%”
* “Do You Generally Favor [The Senate Health Care Bill] Or Generally Oppose It? … As you may know, the U.S. Senate is considering a bill that would make major changes in the country's health care system. Based on what you have read or heard about that bill, do you generally favor it or generally oppose it?"Favor 36% Oppose 61%.”
* “Do You Think The Federal Budget Deficit Would Or Would Not Increase? … If a bill similar to the one that the Senate is considering becomes law, do you think the federal budget deficit would or would not increase?"Would Increase 79% Would not Increase 19% No opinion 2%”
* “Do You Think Your Taxes Would Or Would Not Increase? … If a bill similar to the one that the Senate is considering becomes law, do you think your taxes would or would not increase?" Would Increase 85% Would not Increase 14% No opinion 1%”
Larry Kudlow states that Obama is killing the dollar.
Larry Kudlow states that Obama is killing the dollar.
Wednesday, December 9, 2009
Economic Breakdown Song (Now on iTunes!)
This music video was created for an Economics Final at Frontier High School in Bakersfield by four classmates. It was written on Thursday, Song recorded on Friday, Shot in 5 hours on Saturday, Edited on Monday - with a couple of pick-up shots. Final editing and mastering on Tuesday and turned in on Wednesday morning.
Kids to Meet Marx in American Schools: A Tale of the History Channel and Hollywood
Kids to Meet Marx in American Schools: A Tale of the History Channel and Hollywood.
Brian Jones, a New York teacher and actor, is a board member of VOICES and has also played the lead in Zinn’s play Marx in SoHo. Jones extols the benefits of this one man play as a tool to introduce people to Marx’s ideas.
Jones is also a regular contributor to Socialist Worker, International Socialist Review, and speaks regularly on the beneficial principles of Marxism, including this year at the 2009 Socialism Conference. He recently gave a speech on the failure of capitalism, proclaiming that “Marx is back.”
Sarah Knopp, a Los Angeles high school teacher, is also on Zinn’s Teacher Advisory Board. Like Jones, Knopp is also a regular contributor to International Socialist Review, Socialist Worker, is an active member in The International Socialist Organization, and was also a speaker at the 2009 Socialist Conference. Here is Knopp speaking about the benefits of socialism, how capitalism destroys lives, and how she advocates workers taking over their factories.
The promotional video for the series can be viewed as well.
Howard Zinn is on record blaming America For 9/11; he was interviewed on Iranian TV.
TSA Releases Sensitive Material Online
TSA Breaches Own Security Protocol
The screening manual and the sample CIA credential were posted online by the TSA.
In a massive security breach, the Transportation Security Administration (TSA) inadvertently posted online its airport screening procedures manual, including some of the most closely guarded secrets regarding special rules for diplomats and CIA and law enforcement officers. The most sensitive parts of the 93-page Standard Operating Procedures manual were apparently redacted in a way that computer savvy individuals easily overcame.
The document shows sample CIA, Congressional and law enforcement credentials which experts say would make it easy for terrorists to duplicate.
The improperly redacted areas indicate that only 20 percent of checked bags are to be hand searched for explosives and reveal in detail the limitations of x-ray screening machines.
Tuesday, December 8, 2009
Fall into Hell with the Gap
The Gap had originally ran an ad that did not mention Christmas. As a result, some felt they should boycott Gap, Old Navy, and Banana Republic stores (all are part of the same corporation). Then, the Gap responded with a commercial that takes a cavalier approach towards Christmas.
The video entitled Ready for Holiday Cheer features a group of people dancing and chanting:
Two, Four, Six, Eight, now's the time to liberate
Go Christmas, Go Hanukkah, Go Kwanza, Go Solstice.
Go classic tree, go plastic tree, go plant a tree, go add a tree,
You 86 the rules, you do what feels just right.
Happy do whatever you wanukkah, and to all a cheery night.
Go Christmas, Go Hanukkah, Go Kwanza, Go Solstice.
Go classic tree, go plastic tree, go plant a tree, go add a tree,
You 86 the rules, you do what feels just right.
Happy do whatever you wanukkah, and to all a cheery night.
Go Christmas, Go Hanukkah, go whatever holiday you wanukkah.
The Gap compares Christmas to the pagan holiday called "Solstice." Solstice is celebrated by Wiccans who practice witchcraft.The Gap also encourages you to "86" or "dismiss" traditions and "do what feels just right."
Turkey Disses Obama's Pro-Islamic Outreach Strategy
The Nabucco project, a major new gas pipeline connecting the Caspian region, Middle East and Egypt, via Turkey, Bulgaria, Romania, Hungary, with Austria and further on with the Central and Western European gas markets is tied to Iran. Turkey is betting that the West will cave for more petroleum and not stand on a defense against Iran. The project opens a conduit from Iran to Europe.
SEALS Stand Tough Against Administrative Injustice
Though trial dates have been set for mid-January, defense attorneys for three Navy SEALs charged with offenses arising from the alleged punching a terror suspect in the mid-section said that the government still had not provided any evidence in the case.
Chinese Christmas Presents to the Americans
The Goodguide has cautioned consumers about the ubiqutous Christmas sensation, the Zhu Zhu Pets, furry robotic hamsters, which are the hottest Christmas craze of 2009-–with millions being flown into the U.S. from China. While Zhu Zhu pets have not faced a Consumer Product Safety Commission recall, a report from GoodGuide.com says they contain antimony, a toxic metal known as a carcinogen. The federal limt for antimony in products is 60 parts per million, while the Zhu Zhu has 93 parts per million in the fur and 103 in the nose. "If ingested in high enough levels, antimony can lead to cancer, reproductive health and other human health hazards," said Dara O'Rourke, an associate professor of environmental science at U.C.-Berkeley and co-founder of GoodGuide.com. "If these toys aren't even meeting the legal standards in the U.S., then I would say that it isn't worth the risk for me to bring it into my household."
Sources in Washington say a recall of the toys is unlikely because of the sheer volume already sold – millions throughout the U.S.
But that's not the case with dozens of other products imported from China just in time for Christmas. Of the 28 products recalled by the Consumer Product Safety Commission so far in November and December, 16 were manufactured in China.
But it's not just children's toys from China that are getting recalled and posing safety hazards. Kids' clothing has also been a target of the CPSC this holiday season. Various kinds of hooded sweatshirts have been targeted as strangulation hazards because of unsafe drawstrings. Some of these items are sold in upper-end department stores like Macy's and Dillards – not just Walmart.
Only one major recall this season was highly publicized. That was Maclaren USA's voluntary action to pull from stores baby strollers that resulted in at least 12 finger amputations. About 1 million of them were in circulation – manufactured, of course, in China. They sold for between $100 and $350.
Thinking about giving someone a kitchen appliance this year? Be warned.
Haier America Trading of New York, N.Y., voluntarily recalled nearly 54,000 blenders made in China when it was learned the blade assemblies came apart or broke, posing laceration risks.
Or maybe you were thinking about getting Dad a gas grill. About 663,000 Perfect Flame grills made in China and sold in Lowe's were voluntarily recalled because they posed burn hazards to users. They caused at least 40 fires resulting in burns to hands, arms and faces and at least one eye injury requiring surgery.
Power adapters used with IBM back-up disk hard drives, also made in China, were recalled when it was found they were failing and exposing live electrical contacts that posed shock hazards to consumers.
Maybe you thought a travel mug made in China was a safe gift. Think again. About 15,000 had to be recalled by the "Life Is Good" company when it was found they posed burn hazards.
And before you get that new baby a pacifier for the stocking this Christmas, be sure to check it out. Some 641,000 "Bobby Chupete" pacifiers had to be recalled this season because they pose a choking hazard.
Not even that Christmas tree stand is necessarily safe. About 13,000 manufactured in China had to be recalled after causing users to fall and sustain serious injuries.
Previously frozen catfish from China was found to have been laced with banned antibiotics and scallops and sardines coated with bacteria.
Chinese toothpaste also has been found by the U.S. Food and Drug Administration to have contained a deadly chemical used in antifreeze. In one case, four defendants pleaded guilty to importing from China more than a half million tubes of toothpaste falsely labeled as the popular brand Colgate that contained the toxic antifreeze ingredient.
According to a U.S. Department of Justice statement, the defendants were responsible for 518,028 tubes of toothpaste worth an estimated $730,419 that were shipped into the country and distributed to bargain retail stores in several states.
Chinese imports have been blamed for poisoning America's pets, risking America's human food supply and reintroducing lead poisoning to America's children.
For years, Washington has claimed to be working on the problem of defective consumer products being delivered from China to the United States.
Obama's Congress Against Breathing
The Competitive Enterprise Institute has released a video that nails it and the latest bad move by Congress against the American people.
The Environmental Protection Agency took a major step yesterday toward regulating greenhouses gases by concluding that climate changing pollution threatens the public health and the environment.
"CO2 for different people has different attractions. After all, what is it? - it’s not a pollutant, it’s a product of every living creature’s breathing, it’s the product of all plant respiration, it is essential for plant life and photosynthesis, it’s a product of all industrial burning, it’s a product of driving – I mean, if you ever wanted a leverage point to control everything from exhalation to driving, this would be a dream. So it has a kind of fundamental attractiveness to bureaucratic mentality."- Richard S. Lindzen, Ph.D. Professor of Atmospheric Science, MIT
Monday, December 7, 2009
Public School Children Learn to Praise Messiah Obama
More children learning to praise Obama.
In another video--filmed shortly after Obama delivered his "Back to School Speech" in September=--children from the same elementary school say "thank you" to Obama. The teacher also asks one of the students if the President "is like a hero to" her. At about 1 minute and 59 seconds into the video, the children say "Thank You" to Obama while holding a photo with the words, "Extreme Loyalty...." inscribed on the top. Blech.
Sprint manager: ‘Half’ of all police surveillance includes text messaging
Christopher Soghoian, a graduate student at Indiana University, has documented that Sprint Nextel provided law enforcement agencies with its customers' (GPS) location information over 8 million times between September 2008 and October 2009.
Unemployment
Unemployment
Types of Unemployment
There are several different types of unemployment, of varying duration and severity (in terms of implications for the economy). This video goes through the types, and addresses why the Macroeconomic goal is "Low Unemployment," rather than "Zero Unemployment."
Fault Lines on Unemployment from al-Jazeera
GDP
Real GDP
The difference between GDP (Gross Domestic Product) and GNP (Gross National Product)
Dr. Richard Ebeling, Clemson capitalism, answers a student question about GDP and its usefulness as a measure of economic health.
How To Calculate GDP
Want to Subscribe?
Sign In or Sign Up now!
http://www.informedtrades.com/ A lesson on what traders of the stock, futures, and forex markets look for when the Gross Domestic Product (GDP) Number is released. As we have learned in previous...
http://www.informedtrades.com/
A lesson on what traders of the stock, futures, and forex markets look for when the Gross Domestic Product (GDP) Number is released.
As we have learned in previous lessons there are many components of the US Economy which can affect overall economic growth and inflation expectations. Some of the major examples here are how many people are employed in the economy vs. unemployed, how much the housing market is growing in different parts of the country, and at what rate the prices for different products in the economy are seeing increases.
As all of these things are so important to the economy and therefore to the markets, there are no shortage of economic reports which are released to try and help people gauge how things are going with different pieces of the economy. It is important for us as traders to understand the major reports here as even if we are trading off of technicals, understanding what is happening in the market from a fundamental standpoint can help establish a longer term bias for trading. In the short term an understanding of these numbers will also help to assess the erratic and sometimes extreme movements which can occur after economic releases.
The granddaddy of all economic reports is the release of the Gross Domestic Product (GDP) number for the economy. The Gross Domestic Product for the US or any other country is the final value of all the goods and services produced in that economy. Essentially what you get after calculating GDP by adding up the value of all goods and services produced in the economy is a measure of the size of the overall economy. It is for this reason that market participants will watch the GDP number closely as the rate of growth in this number represents the rate of growth in the overall economy.
As a side note here, GDP also allows a comparison to be made of the sizes of different economies from around the world, as well as their growth rates. To give you an idea of just how large the US Economy is, 2007 GDP for the United States was estimated at 13.7 Trillion dollars. This is in comparison to the next largest economy in the world, Japan which has a GDP of under 5 Trillion Dollars.
Quarterly estimates of GDP are released each month with Advance Estimates which are incomplete and subject to further revision being released near the end of the first month after the end of the quarter being reported. In the second month after the end of the quarter being reported preliminary numbers (which basically means more accurate than advanced) normally are released and then finally the final GDP number is released at the end of the 3rd month after the end of the quarter being reported on.
Traders are going to focus heavily on the growth rate released in the Advanced number and markets will also move on any significant revisions made in the preliminary and final GDP numbers.
Circular Flow Diagram
Circular Flow Diagram and Micro vs. Macro
This video gives an overview of the circular flow of economic markets and discusses the difference between microeconomics and macroeconomics.
For more information and a complete set of microeconomics videos, see
http://www.economistsdoitwithmodels.com
Business Cycle
Business Cycle: short, best introduction to Macro Business Cycle explanation. "mjmfoodie" produces helpful economic videos.
Business Cycle
The History of Economic Cycles
Outlining briefly the people and discoveries relating to economic cycles. Beginning with Sir William Herschel who around 1800 found a connection between the Sunspot cycle and wheat prices, mention is made of Clement Juglar 1860s, William Stanley Jevons 1870s, The Rothschild family 1890s and Rockerfeller family, W D Gann 1900s, Joseph Kitchin 1920, Kondratief (who I accidentally left out of this video) and his 54 year cycle in the 1920s, Alexander Chizhevsky and Raymond Wheeler around the 1930s being interisciplinary cycles researchers, R N Elliott, Joseph Schumpeter and Simon Kuznets (later to receive a Nobel Prize) and the formation of the Foundation for the Study of Cycles by Edward R Dewey and others in 1942. The age of computers arrived in cycles research with J M Hurst about 1970.
For more information about cycles research:
http://www.cyclesresearchinstitute.org/
http://foundationforthestudyofcycles....
http://ray.tomes.biz/
There is an interdisciplinary cycles discussion forum open to all people to search and read, and people can join to participate, at http://tech.groups.yahoo.com/group/cy...
For more on the history of economic cycles:
http://www.datacomm.ch/dbesomi/Links/...
http://www.timesizing.com/1kondrat.htm
Sunday, December 6, 2009
Elvis Christmas
Warning: language, Elvis Presley Stage Rehearsal 04 August 1970 Las Vegas International Hotel.
Subscribe to:
Posts (Atom)
Popular Posts
-
The original article, which has generated an incredible amount of hits, has mysteriously disappeared: 24 November 2014. http://www.wnd.com...
-
Assessment
-
SherAli Tareen, Assistant Professor of Religious Studies at Franklin and Marshall College, was awarded an American Academy of Religion’s 201...
-
This inaugural episode in series 1 (Paul and his communities) uses incidental autobiographical references in Paul’s letters as an avenue int...
-
Londoner
-
Rockefeller, Prager University Rockefeller
-
Why is Modern Art so Bad? 5:49 For two millennia, great artists set the standard for beauty. Now those standards are gone. Modern ar...
FEEDJIT Live Traffic Feed/Site Meter
Where From?
Subscribe To
Posts
All Comments
Handy Tools, Links, etc.
Share |
CIO and Strategy & Business magazines
Nature: International Weekly Journal of Science
SD Times: Software Development News
SC Magazine for Security Professionals
Missile Defense
33 Minutes
Government Technology: Solutions for State and Local Government in the Information Age
What's Running is a great tool so that you can see what is running on your desktop.
Process Lasso lets you view your processor and its responsiveness.
Online Armor lets you view your firewall status.
Avast is a terrific scrubber of all virus miscreants.
ClamWin is an effective deterrent for the little nasty things that can crop into your machine.
Ad-Aware is a sound anti-virus tool.
For all your electronic appliance needs research products on this terrific site.
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 Unported License.
Recent Comments
Note: Opinions expressed in comments are those of the authors alone and not necessarily those of this blogger. Comments are screened for relevance, substance, and tone, and in some cases edited, before posting. Reasoned disagreement is welcome, but not hostile, libelous, or otherwise objectionable statements. Original writing only, please. Thank you.
Blog Smith Headline Animator
National Debt Clock
Subscribe To
Posts
All Comments
The Religion of Peace
Portrait of Thinking Hero
1844-1900
Check out:
Chicks dig readers.