PayPal becomes the first third-party payment platform with 100% foreign ownership in China with completion of GoPay acquisition, according to Chinese state media.

Awesome /sarc

https://www.globaltimes.cn/page/202101/1212506.shtml

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Might have to chase it…

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[[AMD]] reports earnings on January 29, 2013.

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Volume looks good – higher on up days, lower on down days – confirming the break out of the falling wedge pattern.

Click chart to enlarge

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I’ve heard this speech before, but want to save this part on my blog, for future reference.

No one wants to die. Even people who want to go to heaven don’t want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because death is very likely the single best invention of life. It’s life’s change agent; it clears out the old to make way for the new. Right now, the new is you. But someday, not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it’s quite true.

Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary. (Steve Jobs, 2005 Stanford commencement speech)

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This from my friend:

Makes you sort of realize that no matter how successful you are… it don’t mean shit.
 
 

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If you’re thinking that our economic crisis was in some way the fault of homeowners who couldn’t afford their mortgages, please consider the following:

At the end of 2007, there were roughly $1.4 trillion in sub-prime mortgages in this country.

If “irresponsible sub-prime borrowers,” caused the meltdown, then $1.4 trillion would have solved the problem in its entirety, right? Because that’s all the sub-prime loans there were.

But, between the Federal Reserve, the FDIC and the Treasury over $13 trillion has been pumped into financial institutions to fix the “housing correction,” which is what Hank Paulson was still calling our economic collapse as of November of 2008.

At the end of 2008, there were $11.9 trillion worth of mortgages in this country. So, with $13 trillion, the government could have paid off every single one… and still had a little over a trillion dollars left over.

But there’s a lot more to the economic problem than that, explains Nomi Prins, my new favorite financial uber-genius and author of “It takes a Pillage.” Wall Street had been playing the leverage game… somewhat like they did in the 1920s, I suppose… but on mega-steroids. Leverage means borrowing on assets, and Wall Street banks were leveraged by 30:1, commercial banks by 10:1, not including their “off-the-balance-sheet” holdings, which could make their leverage ratio significantly higher in many cases.

So… in “Pillage,” Nomi Prins explains in terms anyone can understand that factoring in the leverage at 11:1, we’re looking at a $140 TRILLION economic problem… yes, you read that correctly… that’s trillion, with a ‘T’. Our Wall Street bankers, through the abuse of the securitization process and excessive amounts of leverage, created a potential tab of $140 TRILLION for the people of this country to pick up.

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Data taken from: http://www.fdic.gov/bank/individual/failed/banklist.html

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Warren Buffett is likely about to orchestrate one of the biggest changes in years to the financial structure of his company.

Berkshire Hathaway Inc. is widely expected to approve a 50-to-1 share split of its Class B shares on Wednesday, a move tied to its planned purchase of the railroad giant Burlington Northern Santa Fe Corp.

With the split, trading volume will likely increase, and that could attract a new group of bigger and faster-trading investors. The B shares closed Friday at $3,247, a lofty price that limited the kind of investors who bought the stock to mostly those with …

Source: WSJ

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