Happy St. Patrick’s Day! Ed’s Daily Notes for March 17th   Leave a comment

saint-patrick-driving-snakes-out-of-ireland-demotivational-posters-1332006105(hat tip to The Anime Network for the pic)

For the week ahead, there is only one thing to know: The Federal Reserve’s Open Market Committee meeting starts Tuesday, and they will make their announcement on Wednesday.

Fox News: Crimea official says 96.8 percent of voters support joining Russia

It’s officially a mess now:

The United States and its European allies are expected to announce sanctions against Russia sometime Monday after Crimea’s election chief announced that just under 97 percent of voters in the region supported leaving Ukraine and becoming a Russian province in a referendum held Sunday.

Here’s one whale’s opinion:

Daily Beast: George Soros Predicts Ukraine Could Ruin The EU

George Soros, one of the world’s leading investors, has warned that the European Union is in danger of falling apart if it fails to confront Vladimir Putin’s naked aggression in Ukraine.

The billionaire financier told The Daily Beast that European governments should have seized on Russia’s land grab in Crimea to breathe new life into a union that is disintegrating and stumbling towards oblivion. Instead, he argued, squabbling European nations have failed to meet the challenge and continued to act in their own narrow self-interest. “Europe was totally unprepared for this crisis and Putin outmaneuvered Europe with no difficulty,” he said.

For long-term investors, Europe needs to be avoided. I am even beginning to have second thoughts about my Banco Santander (SAN) holding.

Washington Post: U.S. to relinquish remaining control over the Internet

U.S. officials announced plans Friday to relinquish federal government control over the administration of the Internet, a move that pleased international critics but alarmed some business leaders and others who rely on the smooth functioning of the Web.

Pressure to let go of the final vestiges of U.S. authority over the system of Web addresses and domain names that organize the Internet has been building for more than a decade and was supercharged by the backlash last year to revelations about National Security Agency surveillance.

The change would end the long-running contract between the Commerce Department and the Internet Corporation for Assigned Names and Numbers (ICANN), a California-based nonprofit group. That contract is set to expire next year but could be extended if the transition plan is not complete.

…In a statement, Senate Commerce Committee Chairman John D. Rockefeller IV (D-W.Va.) called the move “consistent with other efforts the U.S. and our allies are making to promote a free and open Internet, and to preserve and advance the current multi-stakeholder model of global Internet governance.”

But former House speaker Newt Gingrich (R-Ga.) tweeted: “What is the global internet community that Obama wants to turn the internet over to? This risks foreign dictatorships defining the internet.”

I have to side with Newt on this one. Just consider what the United Nations has become, and apply that to the Internet. This is a negative for the future of internet companies.

Daily Mail: iPhone users are disappointed with the iOS 7.1 software update that’s draining their batteries, erasing their contacts, and flipping their keyboards

Bad news for Apple:

With every new I-phone software update comes the potential for problems and the iOS 7.1 released on Monday is no exception.

Customer’s say it’s killing their phone batteries among other pesky glitches.

The iOS7.1 is the first major update to Apple’s newest operating systems for iPhones and iPads and the apple community is lamenting poor battery charges, disappearing contacts, bad Bluetooth connections, keyboards oriented the wrong way, and the list goes on, reports the Huffington Post.

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Posted March 17, 2014 by edmcgon in Federal Reserve, Market Analysis, News, Technology

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