Petabytes have been with us for many moon..

here is one, of many utilizations– http://www.globalresearch.ca/index.php?context=va&aid=14249

http://money.aol.com/article/aluminum-giant-alcoa-tops-estimates/562604

Give me a break. This was linked from AOL one minute and then replace by a much more upbeat article:

http://www.dailyfinance.com/2009/07/08/alcoas-second-quarter-earnings-top-expectations-is-the-recover/

Kind of fascinating to catch the MSM in the act of spinning the news.

So much for unbiased news.

The next month is going to be torture as the media spin machine kicks into over drive.

Of course better than analysts expectations is simply a Bloomberg survey, which could be anything they want it to be, I predict we are in for another major does of green shoots here…..Sorry I feel a vomit coming on.

“Morgan Stanley Plans to Turn Downgraded Loan CDO Into AAA Bonds ”

but it’s not…

http://www.bloomberg.com/apps/news?pid=20601109&sid=aeTzfvEedKpQ

“Morgan Stanley plans to repackage a downgraded collateralized debt obligation backed by leveraged loans into new securities with AAA ratings in the first transaction of its kind, said two people familiar with the sale. ”

it leaves me mouth agape and head shaking. i just don’t understand. talk about short memories!

“The once-in-100-years-storm story means that there’s nothing to learn here, it just happens every now and then and we have to accept it,” says Joseph Mason, professor of banking at Louisiana State University. “That absolves banks and regulators from responsibility for reforming in a meaningful fashion financial regulation.”

” the message is clear: the credit crunch didn’t occur because the financial system was rotten. No, instead it was swamped by an epic storm worsened by investors looking to profit from misery”

man- that is some brazen stuff

That’s reflected also in the meme that the negativity in the media caused the panic last fall that created the recession. Balderdash, of course. But it allows those who espouse it to hang on to their faulty investing methodology, etc. Denial is strong.

Also the idea of hedging your risk in housing is a good one. Of course the devil’s in the details and you’d want to watch out for unintended consequences, and speculation that would just cause more problems than it would solve and skew the market. But it would help to take short term risk from home ownership and enable mobility for the job market.

Because real estate is so local, it would be tough to hedge perfectly and some markets would be easier than others to create the hedges (larger, more homogeneous markets). You could end up losing on a bad hedge, and that would obviously defeat the whole purpose of the idea.