Daily Digest

Daily Digest - Apr 16

Thursday, April 16, 2009, 11:01 AM
  • Tax Day Becomes Protest Day
  • Stress Test Results: Here comes the Sun?
  • "The Financial Commentator", since 1985. His analysis focuses on Federal Reserve monetary policy, and how policy affects the economy and the financial markets.
  • Big Banks Increase Foreclosure Activity
  • Treasury, Inflation Protected Securities ETF
  • Economic survivalists take root (H/T GoalDigger)
  • Texas governor claims sovereignty from "oppressive" U.S. government (Video H/T Zombie210)
  • Inventories Continue to Fall...
  • More Microsoft Office! Wow, Can't Wait
  • Why banks cannot be nationalized

Economy

Tax Day Becomes Protest Day

Today American taxpayers in more than 300 locations in all 50 states will hold rallies -- dubbed "tea parties" -- to protest higher taxes and out-of-control government spending. There is no political party behind these rallies, no grand right-wing conspiracy, not even a 501(c) group like MoveOn.org.

Stress Test Results: Here comes the Sun?

The Obama administration is considering making public some results of the stress tests being conducted on the country's 19 largest banks, said people familiar with the matter, a move that could help more clearly separate healthy banks from the weaklings.

It isn't clear precisely what information the government might disclose. ... But some within the administration believe a certain amount of information needs to be released in order to provide assurance about the validity and rigor of the assessments. In addition, these people also are concerned that the tests won't be able to fulfill their basic function of shoring up confidence unless investors are able to see data for themselves.

"The
Financial Commentator", since 1985. His analysis focuses on Federal
Reserve monetary policy, and how policy affects the economy and the
financial markets.

In the last three weeks, three significant policy announcements have been made. The Federal Reserve stated it is firmly committed to Quantitative Easing and will double its balance sheet before the end of 2009. Treasury Secretary Geithner announced a plan to get toxic assets off of bank balance sheets. And yesterday, FASB announced it is going to give bankers the discretion of valuing their toxic assets. Although the market initially responded favorably to each announcement, it did subsequently sell off after the Fed's and Geithner's announcements in the following days. This indicates that there is still a fair amount of selling pressure in the market.

Big Banks Increase Foreclosure Activity

More than 2.1 million homes will be lost this year because borrowers can't meet their loan payments, up from about 1.7 million in 2008, according to Moody's Economy.com.

Just something to be aware as foreclosure activity picks up again - the lull was because of the moratorium, not market fundamentals.

Treasury, Inflation Protected Securities ETF (Chart trend on page)

While many people aren't worried about inflation right now, they are worried about it down the road. Along with purchasing hard assets like gold, investors can buy TIPS (Treasury Inflation Protected Securities) that provide returns slightly above the rate of inflation. An ETF that tracks the TIPS market is TIP, offered by iShares. Below is a chart of TIP since the start of 2008. As shown, the ETF declined for most of 2008. However, since it bottomed last November, it is up 12.15%, which is considerably better than the 1.2% decline in the S&P 500.

Economic survivalists take root (H/T GoalDigger)

When the economy started to squeeze the Wojtowicz family, they gave up vacation cruises, restaurant meals, new clothes and high-tech toys to become 21st-century homesteaders.
Now Patrick Wojtowicz, 36, his wife Melissa, 37, and daughter Gabrielle, 15, raise pigs and chickens for food on 40 acres near Alma, Mich. They're planning a garden and installing a wood furnace. They disconnected the satellite TV and radio, ditched their dishwasher and a big truck and started buying clothes at resale shops.

Texas governor claims sovereignty from "oppressive" U.S. government (Video H/T Zombie210)

Inventories Continue to Fall..(Chart on page)

More Microsoft Office! Wow, Can't Wait

This caught my eye:

SEATTLE (AP) - Microsoft Corp.'s next version of its Office desktop programs will reach consumers next year, though not likely in conjunction with the Windows 7 operating system. Microsoft is set to announce Wednesday that Office 2010 will be finished and ready to send to manufacturers in the first half of next year.

Is this how the economy picks up? We all fork over dollars for a product update that none of us actually need? I think of it like copper pipes behind the drywall of our homes. Do you ever just wake up and say, "Gee, time to replace the copper pipes for no reason?"

Why banks cannot be nationalized

David Goldman in two posts -- here and here -- on why major banks with large capital structures cannot be resolved nor even pushed into a large debt-to-equity swap.

The next sector to collapse would be the insurers: as I've said here again and again, the big pyramid scheme in the US financial system is that the insurers own the bottom of the capital structure of the banks. Bank preferreds, trust preferreds, hybrids, etc. were the favorite repast of yield-hungry insurance portfolio managers. ...

[W]hat [goes] if the insurers go?

The answer is, "everything," including the most mundane transactions in trade - because everything requires insurance. ...

Of course it was a pyramid scheme: of course the insurers who allow a load of kasha to get from Minsk to Pinsk should not have owned the bottom of the banks' capital structure, and so forth. No-one should have owned bank preferred shares but misers living in caves in the Swiss alps living exclusively on home-grown goats' milk, so that the vaporization of these securities under nationalization would not even have gone noticed. Bank subordinated debt should have been sold exclusively to the hoards of sleeping dragons who would not hear the crash of the issuer thousands of miles away. We know that now. My recommendation is that Larry Summers and Timothy Geithner should be deputized to find sufficient dragons and Swiss misers to place the $135 billion in TARP capital injections to the banks....

...but in the meantime, the only alternative is to allow the banks a zombie existence cannibalizing the "toxic" assets left over from the structuring excesses of the boom.

25 Comments

Davos's picture
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Re: Daily Digest - Apr 16

13 year olds robbing banks...At least he is honest about what he is doing and upfront about it.I have more respect for him then those doing the real looting. He is facing 30 years if tried as an adult.

Perception is everything. Think bank robbers and the first thing that comes to my mind is a mask and a gun, not a computer and H.R. 1

I suspect we are going to read about Blagojevich like indictments being applied to Rick Perry soon. Brave man, wish him all the best.

Reading the news makes me long on pitchforks and torches, somehow I doubt Americans will need as many drugs to feel good in the near future.

The last thing I'd want to be is a politician.

 

r1336008555.jpg?x=400&y=259&q=85&sig=XzsDk.fTvTHSQwtt237N7A--

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Re: Daily Digest - Apr 16. Bloggers Of The Apocalypse Unite

Hi All,

First the WSJ, then a mention on the Ruppert Blog.  But before those,  and any other MSM mentions (as far as I know), again yesterday, Carolyn Baker, Speaking Truth to Power (STTP)  http://carolynbaker.net/site/ whom has been promoting the Crash Course (CC) since October 7, 2008, posted Chris’s  “America Is Being Looted”.   Being a regular visitor to her site, Oct 7th was the day that I started the CC after seeing the post/link at STTP.  Coincidentally that was the day the NYSE and other stock indexes started their decent (if I remember correctly).

Here’s what she posted that day,

http://carolynbaker.net/site/content/view/772/7/

DON'T QUITE UNDERSTAND THE ECONOMIC SCENE? CONSIDER TAKING THIS CRASH COURSE

Tuesday, 07 October 2008 

[I cannot recommend Chris Martenson's "Crash Course" highly enough. It will de-mystify the economic scene for you and frame the topic in terms of sustainable economics vs. the financial practices of corporate capitalism that are destroying the planet and its inhabitants. How do we intelligently understand resources and use them to support our communities and the larger earth community? How do we astutely read the tea leaves and establish food and energy security in the face of Peak Oil and global economic meltdown? The current economic collapse makes clear that we are entering a new financial paradigm. Understanding how the old one has gotten us to where we are now and what we need to do differntly is crucial for navigating the current transition and building new economic structures. In a word, Martenson makes sense!--CB]

Since then, on March 18, 2009, STTP was mentioned in the article "Six Bloggers Of The Apocalypse" (PORTFOLIO MAGAZINE) by Helaine Olen,

http://www.portfolio.com/business-news/portfolio/2009/03/18/Bloggers-of-the-Economic-Apocalypse

along with  James Howard Kunstler Clusterfuck Nation, Gerald Celente The Trends Research Institute, John Xenakis Generational Dynamics , Eric Janszen Itulip and Larry Roberts Irvine Housing Blog.

If you are not familiar with STTP, I am sure many of you will find it to be a useful source of information.  Carolyn reviews a lot of books and videos.  Her latest book is Sacred Demise: Walking The Spiritual Path of Industrial Civilization's Collapse.  l have read many comments on CM by persons expressing the need to find ways to cope with our situation.  There is tons of good, positive advice at STTP just like here at CM.

Even though I have been coming to CM just about daily since 10/7/08, this is my first post.  I was made aware of Peak Oil back in April 2004 and have been a political activist going back to the mid ‘80s.  I have worked on both Dennis Kucinich Presidential campaigns.  There’s not much mention of Dennis on this site.  I don’t think I have ever seen his name mentioned in any of the commentary on CM unlike the numerous mentions of Ron Paul.  I wonder how many of you know his position on Ending The FED.  His advisor on financial politics was Ellen Brown, Web of Debt.  Ellen posted an open letter to Obama on 4/8 titled REVIVE LINCOLN’S MONETARY POLICY: AN OPEN LETTER TO PRESIDENT OBAMA  http://www.webofdebt.com/articles/lincoln_obama.php

Ellen also advised the creator of the Zeitgeist trilogy of films.

Anyway, I hope to be able to provide some useful commentary and other guidance to the CM audience in future posts.  Thank you.

Broadspectrum

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ccpetersmd
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Re: Daily Digest - Apr 16

Broadspectrum,

Welcome, and thank you for the links! I'll look forward to reading more from you.

Davos, 

I appreciate the Texas governor's position. Interesting that in the introductory remarks in the article, his views were described as coming from "Glenn Beck's loony bin". 

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Re: Daily Digest - Apr 16

Hello Christopher:

Interesting, without TV I only catch an occasional Beck clip and was totally unaware of that. Take care 

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Re: Daily Digest - Apr 16

Be careful of your love for Perry. He is nothing but a politician. I am a Republican and live in Texas and I would not vote for the guy. He is exactly what this country does not need in Washington. He always gets out front on hot topics and then just disappears when true leadership is needed. I would not say he is very popular here in Texas.

 

LT

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Re: Daily Digest - Apr 16
BuzzTatom wrote:

Be careful of your love for Perry. He is nothing but a politician. I am a Republican and live in Texas and I would not vote for the guy. He is exactly what this country does not need in Washington. He always gets out front on hot topics and then just disappears when true leadership is needed. I would not say he is very popular here in Texas.

LT

I'm not certain you were directing this comment toward me, but rest assured that love is not involved. I don't know anything about Perry, other than what I saw on the video. I agree with his message in said video, and suspect we will see more of the same coming from the states, but I have no thoughts on Perry beyond that. 

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Re: Daily Digest - Apr 16 - MS Office

The MS Office jibe (I'm not targetting Davos here) is a little short-sighted.

Being in the IT industry (and disliking MS for that matter) I do understand why MS are releasing this product despite the economy etc. MS are actually late to market with their offering.

The lead times are product development is in years but putting this aside MS and everyone else for that matter are throwing huge amounts of money into 'Cloud' computing and this version of MS Office will have Cloud adaptation abilities.

This version of Office will integrate with MS's Cloud objectives and will most likely be picked/snapped up by corporates and perhaps mid-sized businesses looking at enterprise/departmental wide cost savings.

Cloud computing is where your computing resources/services exist out there in the 'cloud' and are scalable, non geographical and basically all you need to know is that they are there - you care not where or even how you access them - they are seemless and you just need an internet connection - that's all you care about.

They (Cloud computing resources/services) are a logical extension to virtual servers which have taken data-centres by storm due to their cost cutting in hardware/power requirements (i.e. a physical box can run multiple virtual servers, each virtual server presenting it's own operating system in it's own right - thus one physical box can host many virtual servers - in fact, all web hosting companies do this - when you buy web hosting resources you just get given a virtual machine and to you it looks like you have you own complete machine - the truth is your running on a box with probably 100's of other virtual machines).
Cloud computing takes this one step further and places everything 'out there' (or bits if you want to only distribute part of your enterprrise beyond your corporates head office/computing facilities).

So - this release of MS Office will be the basis from which you can lauch/deploy cloud computing in your organisation and therefore potentially save a lot of money - which is why for example HP have already engaged MS for preliminary work with deploying cloud office type distribution.

Cloud computing is still gaining traction and will undergo redefinition as time goes on but it's where everything is headed.

I also think it will take a lot longer to totally gain acceptance than what MS think - but that's my personal view.

:-)

What is Cloud computing?

You can see by the diverse range of answers that people have an idea but a clear definition is still forthcoming.

In terms of virtual servers however, these products exist for the home user right now (most for free).

Here's one by Sun that they give away for free and it's very good.

http://www.virtualbox.org/

If you ever wanted to run more than one OS at the same time on your machine ) say Windows Visa and Linux or say even Vista and Windows XP), use this.

Personally, I use a virtual server to access the internet, that way if the virtual machine gets clobbered by a virus etc, it will not destory my whole PC - it will just take out my virtual server and all I do is restore that virtual server and away I go again). When you restore, you just restore as single file and within that single file is a whole virtual machine - so getting back up and running again is really easy and quick.

I test new software inside a virtual machine, this way if something goes wrong it's no big deal as my whole PC isn't clobbered - just the virtual machine.

Anyhow - once again, a little off topic but I hope it explains why MS are pushing this (and to make money of course!) and I hope someone out there finds the virtual machine stuff usefull. Once you set up virtual machines you'll find out how good they can be for isolationand protecting your data etc.

Here's one example of where they come in handy. I was reading recently that a number of people's personal details/banking information was being ripped off. Apparently, children were downloading stuff off the internet and installing it. The parents used the same PC at home to do internet banking etc - the installed programs were getting the banking details/data and uploading it.

Placing your internet banking access inside a virtual machine can stop this - as it's a self contained world and nothing that your kids may install on the main machine will have access to the self contained virtual machine. Think of it as a PC within a PC. This is just one of the many possibilities and ways you can use a virtual machine to isolate your personal details etc.

Hope someone finds this stuff useful...

:-)

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Re: Daily Digest - Apr 16

Global recession likely be unusually long and severe: IMF

By Washington correspondent Kim Landers

http://www.abc.net.au/news/stories/2009/04/17/2545196.htm?section=justin

The International Monetary Fund (IMF) is forecasting a prolonged and deep global recession.

The assessment comes from two chapters just released from the IMF's World Economic Outlook.

The IMF is warning that the current recession is likely to be
"unusually long and severe and the recovery sluggish", and the director
of the IMF's research department, Olivier Blanchard, is not ready to
offer a date for recovery.

"This is not forecasts, this is looking past recessions and
historical evidence. This recession is very different, we'll have to
wait until next week to actually get our forecasts," Mr Blanchard said.

As the world's finance ministers, including Treasurer Wayne Swan,
prepare to arrive in Washington next week, the IMF's assessment is a
stark warning to those who claim to have spotted signs that the
recession is bottoming out.

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Re: Daily Digest - Apr 16
Damnthematrix wrote:

Global recession likely be unusually long and severe: IMF

By Washington correspondent Kim Landers

http://www.abc.net.au/news/stories/2009/04/17/2545196.htm?section=justin

The International Monetary Fund (IMF) is forecasting a prolonged and deep global recession.

The assessment comes from two chapters just released from the IMF's World Economic Outlook.

The IMF is warning that the current recession is likely to be
"unusually long and severe and the recovery sluggish", and the director
of the IMF's research department, Olivier Blanchard, is not ready to
offer a date for recovery.

"This is not forecasts, this is looking past recessions and
historical evidence. This recession is very different, we'll have to
wait until next week to actually get our forecasts," Mr Blanchard said.

As the world's finance ministers, including Treasurer Wayne Swan,
prepare to arrive in Washington next week, the IMF's assessment is a
stark warning to those who claim to have spotted signs that the
recession is bottoming out.

Nice find!

I am constantly being sent emails about how things are picking up (by people who think I'm a doomist). Some people believe what governments tell them hook, line and sinker without giving it a second thought.

I'm certainly greatful to the virtual community here that feeds back the real information about what's going on out there.

Thanks...

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Re: Daily Digest - Apr 16

Maveri,

First, I'm not trying to get sideways with you.

I have to ask tho, when was the last time you opened Word and declared, damn, I can't draft a letter without a cloud! Using this spreadsheet is so 1997!

You clearly know a thing or two about IT as witnessed by your post. My question is not meant to be inflammatory, but it does have merit if you step back.

It sure would be nice if I could upgrade the copper pipes in my walls to intercept radio waves from the air and convert it to heat so I could eliminate the hot water heater. Necessary or even smart? maybe no. So it goes with Microsoft upgrades over the past few years, IMHO.

For what it is worth, I am also an IT professional. Although I am an MCSE and a Microsoft partner, I don't sell Vista and at this point don't plan to sell Windows 7. Full disclosure - I am a UNIX guy - but that part is irrelevant to the post.

Best,

Rog

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Re: Daily Digest - Apr 16

Toxic Money Recall (on the lighter side of things...from The Onion)

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Re: Daily Digest - Apr 16

Hello Rog: Same here, but I'm a Mac guy. Take care

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Re: Daily Digest - Apr 16

Why is the IMF being realistic like that? I always thought them as a kind of evil thing, forcing poor countries into servitude but going right into the face of the US there saying this recession is not going to end soon. Is no one pointing out to them that the US is fucked unless the recession ends like this year?

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Re: Daily Digest - Apr 16

GoalDigger, I like your "Economic Surviivalists" article. 

One of the commentor's remarks made me chuckle: How come articles like this are still hidden away on the "offbeat" section?  

Kind of like testing the water with their big toe, I think!

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MS & Cloud Computing

Maveri and Ready -

 It's ironic that one of the great benefits of cloud computing is that software can be updated centrally instead of having to update on all the client platforms.   Yet, often, who needs the updates, aside from the publisher looking for income?  Microsoft has ignored for a long time the fact that alot of its supposed updates are largely of the replacing-working-copper-pipes variety.  I'm a former software designer and developer, and for our coders, Microsoft's new releases were, in some cases, a laughing stock of new, slow running spagetti code that required ever more powerful processors from its buddy bandit Intel just to the same things that had worked fine before, plus a few unnecessary bells and whistles.   I haven't seen a good reason yet to upgrade from Windows XP to Vista or any of the other malarky MS has been peddling, and Vista's been out quite a long time now.

 best,

kelvinator

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accidental double post

sorry

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Damnthematrix
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Re: Daily Digest - Apr 16

See Rog.....  we have more in common than you think!  I haven't touched windoze in more years than I care to remember.

Mike 

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Re: A.I.G. Chief Owns Significant Stake in Goldman

http://www.nytimes.com/2009/04/17/business/17liddy.html?hpw

Quote:

A.I.G. Chief Owns Significant Stake in Goldman

Published: April 16, 2009

Edward M. Liddy, the dollar-a-year chief executive leading the American International Group since its bailout last fall, still owns a significant stake in Goldman Sachs, one of the insurer’s trading partners that was made whole by the government bailout of A.I.G.

Mr. Liddy earned most of his holdings in Goldman, worth more than $3 million total, as compensation for serving on the bank’s board and its audit committee until he stepped down in September to take the job at A.I.G. He moved to A.I.G. at the request of Henry M. Paulson Jr., then the Treasury secretary and a former Goldman director.

Details about his holdings were disclosed in Goldman’s proxy statement and confirmed by an A.I.G. spokeswoman, who said they constituted “a small percentage of his total net worth.” Mr. Liddy had already owned some stock in Goldman Sachs before joining its board in 2003.

He has said that he considers his work at A.I.G. to be a public service, performed on behalf of the taxpayers, who ended up with nearly 80 percent of the insurance company. His goal is to dismantle the company and sell its operating units, using the proceeds to pay back the rescue loans. On Thursday, A.I.G. said it had sold its car insurance unit, 21st Century Insurance, to the Zurich Financial Services Group for $1.9 billion.

Along the way, Mr. Liddy has clearly disclosed that A.I.G. was serving as a conduit, with much of the rescue money passing through and ending up in the hands of A.I.G.’s trading partners.

Goldman has said in the past that it had collateral and hedges to reduce the risk of its exposure to A.I.G.

Still, his stake could represent a potential conflict and is likely to reignite questions about Goldman’s involvement in A.I.G., and about why taxpayer money was used to shield A.I.G.’s trading partners from losses, when asset values plunged everywhere and most investors suffered greatly.

Had A.I.G. simply declared bankruptcy, the financial institutions doing business with it would have ended up in court, as they did in the case of Lehman Brothers, fighting to get pennies on the dollar for their claims.

Instead, Goldman Sachs received $13 billion of the Federal Reserve’s rescue money to close out various contracts it had outstanding with A.I.G. It was one of the biggest beneficiaries of the government rescue.

A spokeswoman for A.I.G., Christina Pretto, dismissed any suggestion that Mr. Liddy’s financial ties to Goldman might have shaped his actions at A.I.G.

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Re: Daily Digest - Apr 16
Ready wrote:

Maveri,

First, I'm not trying to get sideways with you.

I have to ask tho, when was the last time you opened Word and declared, damn, I can't draft a letter without a cloud! Using this spreadsheet is so 1997!

...

Best,

Rog

No offence taken at all :-)

I'm not a cloud advocate at all. I'm happy to present stuff for the sake of information even when I disagree with it.

I got sidetracked into explaining cloud as background information when in fact the real basis for my post was that the article attacked MS on the basis of bringing out a new product, Quote "That we don't need". I think the article's reasoning was flawed.

When has a product from MS been released that we actually need? It's always been about MS selling us products that they think we need for their bottom line and their marketing forces attempting to convince us of the same.

I was merely showing that MS in fact have a much bigger picture in mind than just pushing out another product to consumers.They are casting a much larger net.

Wether people like it or not (and by the way - I don't like it) MS and others will push people to cloud computing regardless if they like it or not. It has great cost savings and control benefits (it's the control benefits that I dislike the most).

I then decided in my post to bring in some background information to shore up the reasoning behind MS's push - if this background information isn't realised/understood, then people will draw the wrong conclusion just like the Author of the article did, that MS are selling something that people don't need.

It's a bit like the central banks actually - pushing the world towards a one world money system - something we don't need but something that we are getting railroaded towards. I don't like that either.

For the record - I run Windows XP, Vista, Windows 7 Beta and Linux. I also have OpenVMS (my OS of choice) running in a virtual machine inside another virtual machine :-)   I have Office 2007 but I use Office 2003 95% of the time because it's all I need. I have dabbled with OpenOffice but fall back to MS Office.

My post wasn't about trying to sell cloud computing at all - I personally dislike it because I dislike the control it takes away from me - the point of my post was to say that the basis of the article was flawed or at least the perspective was narrow sighted. The rest of my post was geared towards raising people's awerness of what cloud computing is (because it's the reason behind the software update) and then i added virtual machines into the mix as they are really usefull and benefical people wish to use them.

That's all I was attempting to do.

Ready wrote:

My question is not meant to be inflammatory, but it does have merit if you step back.

 

I couldn't agree with you more - but that wasn't the reason I posted what I did.

I was trying to show the reasoning 'behind' why MS are pushing out yet another product.

The
article was correct at a low level but what MS are steering people
towards is something beyond that - in fact, they are going in a
direction that I personally dislike.

Perhaps I presented too much information and that the information got in the way of what I was trying to state?

MS
are pushing their bigger issue. I will personally not take part in
cloud computing because i see it as beading down a path of complete
control. It will end were all we do is lease software from a faceless
corporation and that corporation will increase prices and you will be
stuck because you don't own anything on your local machine.

So -
for the record - I was merely trying to show the other side of the
arguement because that particular article was very narrow minded.

Hope this explains things better.

If
every I come across the wrong way please raise a red flag for me (in a
nice way, like what you did) .I like to explore a topic from all angles to tease out all the
various angles possible and I'll even play devils advocate if necessary
- it's never meant to inflame or have a dig at people.

A full discussion from all angles is what i enjoy and often i walk away learning something that I didn't know before.

So - it's all good and thanks for the feedback

 

:-)

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Re: Daily Digest - Apr 16
maveri wrote:

I also have OpenVMS (my OS of choice) running in a virtual machine inside another virtual machine :-)

I see you a VM running inside a VM and raise you six emulators running simultaneously :-P
I've never heard of OpenVMS, I had to look that up on the Wik.

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Re: Daily Digest - Apr 16
StephenLark wrote:
maveri wrote:

I also have OpenVMS (my OS of choice) running in a virtual machine inside another virtual machine :-)

I see you a VM running inside a VM and raise you six emulators running simultaneously :-P
I've never heard of OpenVMS, I had to look that up on the Wik.

Actually - the OpenVMS OS runs inside an emulator (which is a VM in itself because OpenVMS doesn't run on x86 Intel CPU's) and I run it inside of VMware on a Windows XP box.

OpenVMS used to be big in the 80's and in fact, it still powers most stock exchanges, financial inter-banking transaction systems (not ATM/mortgage type systems), healthcare systems, Telco. billing systems and Mail backend routers. It's uptime is measured in months to years. From memory the longest system running OpenVMS is 12 years without a reboot! Not bad eh :-)

Security is it's forte (it was designated as 'Cool and Unhackable' at a past DECON hackers convention as no-one was able to compromise it - everything else fell, include Windows and Linux) but I'm not surprised you have not heard of it - it's one of those systems that just does it's job in the background.

Windows NT was actually designed on it (NT being a cut down version). A chief architect at MS (Dave Cutler) was on the original design team for OpenVMS and he vanished to MS and a few years later out popped Windows NT

Most stuff we see in Windows has already been done in OpenVMS years ago.

StephenLark wrote:

I see you a VM running inside a VM and raise you six emulators running simultaneously :-P 

Too funny!

You had me chuckling for quite a while with that statement- in fact, I'm still having a good laugh - thanks for that.

:-)

EDIT:

I didn't realise that link was your screen capture. I have just looked at it - nice - your using a Mac and I take it running parallels? (that is the Mac's VM isn't it? - I have not had much to do with Mac since they went to a linux kernel)

I've been meaning to get MAME running so that my kids can play some of the great old games that I used to play. I'm an old Atari fanboi (Star-raiders anyone?)...

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Ready
Status: Platinum Member (Offline)
Joined: Dec 30 2008
Posts: 917
Re: Daily Digest - Apr 16
Damnthematrix wrote:

See Rog.....  we have more in common than you think!  I haven't touched windoze in more years than I care to remember.

Mike 

Mike, you are right. We are not all that different!

See you over on the Firearms thread in a few!

Innocent

Rog

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stpaulmercantile
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Posts: 87
Re: Daily Digest - Apr 16

Davos, you kind of "look" like a Mac guy!  Looking forward to meeting you next week.

 

 

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Stephen Lark
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Posts: 44
Re: Daily Digest - Apr 16
maveri wrote:

EDIT:

I didn't realise that link was your screen capture.

yep :-)

maveri wrote:

I have just looked at it - nice - your using a Mac and I take it running parallels? (that is the Mac's VM isn't it? - I have not had much to do with Mac since they went to a linux kernel.

The two main VMs for Mac OS X are Parallels Desktop & VMWare Fusion - the features of both are quite similar, also Apple has a utility in Mac OS X called Boot Camp for dual-booting into Windows XP/Vista on any Intel Mac - my screen capture didn't use either Parallels & VMWare, just 6 Mac OS X emulators for various old machines - old platforms never die, they just get emulated eh?

In a previous life I used to program IBM mainframes running MVS/XA & MVS/ESA in COBOL & 3090 assembler, I knew of DEC VAX hardware & their VMS OS and the connection to NT - I just hadn't heard of OpenVMS before. How does OpenVMS compare to OpenBSD for security (as I understand it OpenBSD has a reputation for high security)?

PS. The Mac OS X kernel is based on Mach and FreeBSD, not Linux.

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ccpetersmd
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Posts: 799
Re: Daily Digest - Apr 16

Another Mac user here, too, Dave! I use Parallels for Windows XP access, on the fairly rare occasions when I need it. There are a number of Mac users in the medical profession here, and the proportion is growing (some due to my evangelizing, I'd like to claim). One of my anesthesiologist uses a virtual UNIX server on a USB drive, which he can plug into any computer and run his Mac OS and other software, which is very cool. I used to think I was pretty advanced on the technological spectrum, for a doctor, at least, but some of the people I work with have run laps around me in the past few years.

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