oja oba !!!

Almost a decade ago, another legend of the PC era, Bill Gates departed Microsoft as President and CEO and became the company's chairman. On Wednesday, Steve Job, another man credited with much of the key innovations in our lives in the last three decades also bowed out at elm of one of the world's most capitalized companies of all time, Apple.

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Apple released Mac OS X version 10.7.1, a 17 MB update to one month old Mac OS X Lion.

The S&P pigheaded downgrade of the US sovereign ratings was intended to show the weakness in the US economy, technically or politically. Unfortunately, the impact so far has been capital flight to safety - the US Treasury bonds! With more capital flying to the US T bonds, the cost of borrowing by Uncle Sam has only being seriously reduced - where else will the capital go? The folks at S&P would have the world believe they have a foundation, beyond Godiness, to their Friday evening decision, but no rational technical analysts will be able to explain their decision. The US economy remains the bedrock of the global economy, accounting for some odd 20% of the total global gdp. It is the foundation off all global sovereign and non sovereign ratings. It is the gold standard, the constant in all ratings calculations. If it is changed, the entire global rating structure changes with it! So downgrading the US ratings is perhaps the most stupid irony of the ongoin...

Elections have consequences. At least that is one of the right's most repeated refrains since the election of Barack Obama in fall 2008. By 2008, Republicans have been in control of all three arms of government (yes, all three including the Judiciary, the houses of congress and the Presidency) for more than 4 years (2002-2006), and in control of the house of representatives for 14 years (1993 -2007), and the Presidency for the better part of the decade. Indeed, looking back to the last 40 years prior to 2009, Republicans had control of the Presidency for 28 years (Nixon, Ford, Reagan, Bush, Bush), they maintained control of the Senate for 16 years (1981-1987, 1995-2001, 2003-2007), and controlled the house for 12 years (1995 -2007).

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Washington drew very close to a checkmate position last night, when Speaker John Boehner first kept President Barack Obama waiting, and later informed the President that he was walking away from talks. For months, these debt talks have been developing as a classic case of chess with various elements representing chess board elements.

Oklahoma Republican Senator, Tom Coburn, lived up to his gadfly ratings by proposing a largely symbolic measure to cut the US budget by up to nine trillion dollars over a decade. The most ambitious cut proposed so far as part of the current  debate about Washington's fiscal direction. The proposal seem interesting, if you consider the fact that no other publicly released proposal has identified that much cut over the same period. The problem with Coburn's proposal though remains the same as with all other Republican proposal - It is disproportionately focused on spending cuts. 8 trillion of cuts to 1 trillion of revenue - And the revenue is not even new revenue, it is mostly tax-expenditures.

There is a myth perpetuated by the Economic "gurus", there is a correlation between Taxes and Economic activities. But look at the facts: