Living the Resort Life ~ Big Bear Lake California

I have escaped the 110 degree heat of San Bernardino and have gone to the mountains where it's just breaking 80. As a new perpetual guest of friends from long ago and far away I enjoyed a BBQ'ed turkey with them yesterday. I think that I will be able to stretch this out 'til Tuesday. My grandson Kane is having his birthday party Tuesday evening and I have to go back down the hill for that.
I received a call from the engine shop saying my Jeep motor is done and now I have a bunch of parts to pick up and play with - try to figure out how they go back together ha ha. More motorhead details to follow.

More Fed Shenanigans

Aug. 27 (Bloomberg) -- The Federal Reserve argued yesterday that identifying the financial institutions that benefited from its emergency loans would harm the companies and render the central bank’s planned appeal of a court ruling moot.

"Harm the companies" eh? You mean reveal that they are and have been insolvent, and The Fed has been engaged in covering them up?

The Fed is hiding the insolvency of banks. They, along with their handmaidens in Congress even went further and twisted the arm of FASB to legalize intentional accounting distortions that I argue amount to fraud. ~http://market-ticker.denninger.net/~

On The Road Again - my new 'home'

On the road up to Big Bear Lake, CA where I've be visiting TV Bob and his wife. His kids and mine grew up together across the street from each other. Later we were neighbors on the dock in the marina. Now after a big tri-tip dinner, I have accepted their gracious invitation to stay at their spare apartment a block from the lake. I will be there through late fall...Halloween?? It's a beautiful commute when I do have to work.

Back at Work - but that's not me there

I am finally back on the Caltrans project - here monitoring the application of the corrosion protection tape prior to the mortar lining and coating repairs. Fortunately they are not working Friday so I am going to visit friends at Big Bear Lake for a long weekend. It's got to be cooler than the 110 degrees we've had here.

Some Timely Historical Observations

Today's Notable Quotes giving a historical perspective on our economy's direction~

• “The spring of 1930 marks the end of a period of grave concern…American business is steadily coming back to a normal level of prosperity.”– Julius Barnes, head of Hoover’s National Business Survey Conference, March 16, 1930
  
• “While the crash only took place six months ago, I am convinced we have now passed through the worst — and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us.”– Herbert Hoover, May 1, 1930

Now Where Did I Put That Bearing

After digging out all the scrap iron that went through the oil pump, I decided to throw all the bearings away! So new pistons, bearings all the way around, rebuilt heads, and on, and on.
But at least now the work is becoming cleaner to do.

Signs of Atlas Shrugging

More signs that our wonderful gummint is willing and intent on holding their thumb on the scale of American business. How much are you Sheeple willing to put up with?

Aug. 6 (Bloomberg) — Fraudulent or deceptive actions in the wholesale oil market may draw fines of as much as $1 million a day under a rule issued today by the Federal Trade Commission... Under the measure, practices such as keeping tankers offshore and crimping U.S. supply, or closing refineries for maintenance at a time that coincides with high price or demand, or exporting at a low price just to manipulate U.S. stores of oil will get a closer look...

As a capitalist I have the right to buy and sell when were and to whom I please ~ or I can quit and you can try your hand at it. Or better yet the gummint can do it like they're going to do with healthcare. Like they have already done with the post office, the IRS, or the CA-DMV.

Today's 90 Day Delinquencies and Foreclosure Data

So you watch CNBC and ??? and are told that things are geting better huh? Ha ha ha and Cramer showed his alphabet soup of graphs. Well why not ponder this salient tidbit of information datelined today (http://www.calculatedriskblog.com/).

New Motorhead Project

Since the Caltrans project is waiting for documentation approvals, I thought I would start a new project of my own. The 1977 Jeep Cherokee I use to go to the gold mine with has about 8 lb of oil pressure hot and 150,000 + miles on it I figured it was ready for the last re-build I will ever do on it. It is getting a complete new motor, new suspension, steering, and paint. At 7.2 liters this Navigator Eater will be ready for another 20 years. "Cash for Clunkers" eat your heart out and cheap tags for the CA DMV too!