Ed’s Daily Notes for Valentine’s Day   Leave a comment

Romance(hat tip to Memebase for the pic)

Zero Hedge: Europe Considers Wholesale Savings Confiscation, Enforced Redistribution

…”the savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.” What is left unsaid is that the “usage” will be on a purely involuntary basis, at the discretion of the “union”, and can thus best be described as confiscation.

The source of this stunner is a document seen be Reuters, which describes how the EU is looking for ways to “wean” the 28-country bloc from its heavy reliance on bank financing and find other means of funding small companies, infrastructure projects and other investment. So as Europe finally admits that the ECB has failed to unclog its broken monetary pipelines for the past five years…

The solution? “The Commission will ask the bloc’s insurance watchdog in the second half of this year for advice on a possible draft law “to mobilize more personal pension savings for long-term financing”, the document said.”

Mobilize, once again, is a more palatable word than, say, confiscate.

And yet this is precisely what Europe is contemplating:

Banks have complained they are hindered from lending to the economy by post-crisis rules forcing them to hold much larger safety cushions of capital and liquidity.

The document said the “appropriateness” of the EU capital and liquidity rules for long-term financing will be reviewed over the next two years, a process likely to be scrutinized in the United States and elsewhere to head off any risk of EU banks gaining an unfair advantage.

The article goes on to point out even more crap that the EU is considering.

My advice for Europeans is to buy physical gold and/or silver if you are trying to save money for anything. As for Americans, don’t be smug, because this could happen here too.

NY Daily News: The wild Felino cB7 is like nothing you’ve ever seen!

The Felino cB7 could be built anywhere in the world and it would be one of the most outrageous sports cars we’ve ever seen. That the cB7 hails from Canada – not exactly your typical birthplace of exotic automobiles – only makes this car all the more intriguing.

Full of curves and air scoops, the swept-back and Gothic-looking cB7 looks like it’s ready to star in a Batman film. We wouldn’t call it pretty, but you’d never mistake it for anything else on the road.

…The rest of the cB7’s spec sheet is a bit more standard issue sports car. A 525-horsepower 6.2-liter V-8 engine is nestled deep in the nose of the cB7, helping give the 2,502 lb. car a purported 50/50 weight distribution front and rear. Power is routed to the rear wheels, via a 6-speed manual or optional 6-speed sequential gearbox.

The suspension is crafted out of lightweight alumiunum and massive six-piston brake calipers are mounted up front, with equally impressive 4-piston calipers in the back.

Felino’s press release states the cB7 is aimed primarily at international markets, though a limited run will be available within Canada. The price is estimated to be under $100,000. No performance data has been released, though instrumented testing is scheduled for this summer.

If you’re looking for a nice Valentine’s Day present for me, I’ll take this! This car looks like a cross between the Batmobile and a stealth bomber.

felino-cb7

felino-cb7 (1)

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Posted February 14, 2014 by edmcgon in Humor, News, Politics

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