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Welcome to the ECC Blog!  This is where you will find various postings I have deemed important or helpful.  If you find something of interest please use the contact form to alert me.

I figured out what is going on with Activesynch and networking problems

I had a client that has two palm treos running windows mobile and activesync 4.0 and above.  When they would connect to their machines and sync via usb they would loose connection to their server.  I had a windows mobile PDA but never experienced this issue.  I just recently upgraded to a HTC Touch which runs windows mobile.  Sure enough when i had it sync my computer would go into offline mode and i would loose file/print connectivity to the network.  I did some digging and here’s what i found(I’ll keep the HIGHLY technical details out):

1. By default activesync creates a new network adapter based on the usb device.

2.  When you connect the device and sync the device goes though a ghost dhcp.  Once it gets it’s “address” it begins transferring data..for some reason many times this causes the computer to head into offline mode therefore killing windows file sharing connectivity.

3.  disconnecting the device DOES NOT restore the machine to online mode..you have to re-initialize online mode manually which leads to other issues.

Here’s how to fix it(at least on the touch..your pda may have this located in another spot):

start-settings-connections-usb to pc

uncheck “Enable Advanced Networking Functionality”

advantages?  Your networking stack doesn’t get screwed up and you don’t have to jump through hoops to continue to use your computer.  Your windows firewall won’t nuke the connection by default either.

disadvantages?  The transfer can be noticeably slower..BUT it’s still MUCH faster than a serial connection so you still get the benefits of USB tansfers.

How do we FIX this mess?

It’s actuallly very simple…get out of debt.  Once you get out of debt stay out of debt.  This goes for individuals, companies, municipalities, states, and countries.  What I have seen over and over is credit is needed to finance everything..daily operations, payroll(?!?!?!?), etc etc.  This is insane.  My business is about 90% debt free however i don’t borrow from banks(the worst place right now and has been for years) i borrow from my house,  Let me explain:  I do not take out loans against my home but against my other bank account.  I have two revenue streams..my business and my other job’s income.  If i am a bit short on funds(which is rare) i can transfer that to my business bank account.  Once i get some recievables in I send that money back.  This technically is credit…and i have had to do this less and less as i build up my cash reserves.  I have no credit cards..period and no external outstanding loans.  If i don’t have the cash..i don’t purchase it.  With the stock market cratering on a global basis various plans to fix it are being put out.  Just an FYi things aren’t done yet.  Watch this video.  Around 3:45 into the video it talks about something I have not seen talked about much yet..credit default swaps.  Most of these have imploded and continue to be a ticking time bomb.  The market is estimated at 60 TRILLION dollars.  Even if half of those are bad the loss of 2 Trillion is nothing compared to what needs to be flushed out of the system.  This is what most of the media isn’t reporting and what most of the online sites have not talked about either.

The Bailout Hydra has global offspring

Britain Announces Huge Bank Bailout – NYTimes.com.

I’m a bit behind on this part to be sure..but the ramifications are recently revealed.  The US is going to be doing the same thing.  I say this becuase the Bush has already lied repeatedly saying the trilion dollar bailout was for main street when it was really for the chinese and saudis.  AIG also gets another 37 billion dollars after they are already wasting the money on lavish parties.  Nancy Pelosi says we need to spend another 150 billion for another economic stimulus. Peloosi asks in the article, “Should we be spending money on a war without end when we cannot support our own economy?”  Here’s one back at you…can we afford to continue to print money out of thin air which increases inflation, devalues our currency when we can’t support our own economy?  It is amazing how quickly we are haeding towards being a socialistic nation and most of hte american public either doesn’t care or is too dumbed down to see what’s right in front of their faces.

The worldwide plunge has started

FOXNews.com – Japan’s Nikkei Takes Biggest Dive in Two Decades; Markets in Asia, Europe Plunge – International News | News of the World | Middle East News | Europe News.

I don’t know how bad it’s going to be..but central banks all over the world ar now using pretty much the same strategy,  pump billions into their respective markets either directly or by slashing interest rates.  However with confidence in banks being rightfully low this extra hyperinflation by the central banks isn’t going to help much if any. Like i posted earlier get out of variable rate debts as fast as you can.

If you have any credit card debt..get rid of it now

I’m not going to post any links right now as the informaiton i am seeing is wildy swinging between depression alerts to recession alerts.  However it’s clear the hydra’s growing heads aren’t stopping the slide around the world and the slide may be accelerating here.  If you have an arm loan of any kind refi now…if you have any credit cards pay them off and get rid of them now.I can say we are in for a tough time relaly quick and being in debt is one thing you don’t want right now.

Now this is amazing. How wall street is a founding pillar of this (now criminal)mess.

A Look At Wall Street’s Shadow Market, 60 Minutes: How Some Arcane Wall Street Financial Instruments Magnified Economic Crisis – CBS News.

Let me highlight something in this video:

They are private and largely undisclosed contracts that mortgage investors entered into to protect themselves against losses if the investments went bad. And they are part of a huge unregulated market that has already helped bring down three of the largest firms on Wall Street, and still threaten the ones that are left.

Before your eyes glaze over, Michael Greenberger, a law professor at the University of Maryland and a former director of trading and markets for the Commodities Futures Trading Commission, says they are much simpler than they sound. “A credit default swap is a contract between two people, one of whom is giving insurance to the other that he will be paid in the event that a financial institution, or a financial instrument, fails,” he explains.

“It is an insurance contract, but they’ve been very careful not to call it that because if it were insurance, it would be regulated. So they use a magic substitute word called a ‘swap,’ which by virtue of federal law is deregulated,” Greenberger adds.

“So anybody who was nervous about buying these mortgage-backed securities, these CDOs, they would be sold a credit default swap as sort of an insurance policy?” Kroft asks.

“A credit default swap was available to them, marketed to them as a risk-saving device for buying a risky financial instrument,” Greenberger says.

But he says there was a big problem. “The problem was that if it were insurance, or called what it really is, the person who sold the policy would have to have capital reserves to be able to pay in the case the insurance was called upon or triggered. But because it was a swap, and not insurance, there was no requirement that adequate capital reserves be put to the side.”

This how our banking sytem runs right now.  It all starts with the fed and has tentacles in every aspect of hte economy..it’s called credit.  It’s really nothing more than borrowed money and there’s one word for borrowed money…debt.  Everyone knows debt is a bad idea and all of these companies have done everything they can to not use the debt word.  Debt is at the core of this problem and this is going to continue until folks stop incurring more and more debt.  Listen closely.  Wall Street sold these insurance policies on risky investments knowning they could not pay off the debt if it tanked.  This is totally criminal and these companies and CEO’s should be criminally procescuted.

The bailout hydra grows another head

Fed eyes short-term loan plan – Stocks & economy- msnbc.com.

I quote the article:

The government is weighing a bold plan to buy massive amounts of unsecured short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy. The Federal Reserve is working with the Treasury Department on the plan to buy “commercial paper,” a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls, according to a person with knowledge of the plan.

This has been tried and failed..so the govt’s solution is to put more non-existent money out there.  What makes this worse is this is UNSECURED debt so when it goes poof so does our future earnings.  As the market ticker guy says..call your congresscritters and get them to stop this madness(gov’t intervention that is)

*UPDATE* CNBC has more details on this latest Hyrda head.  It appears some are aqsset backed..as they call it..does this mean the same thing as secured?

Some debt numbers

Company Name | Cash | Debt
ATT | 1.63B | 80.13B
Level3 | 666M | 6.84B
Verizon | 2.07B | 43.11B
Cogent | 129M | 330M

Comcast is carrying 31 Billion is debt right now. Verizon isn’t too far behind and then there’s AT&T. I wonder how much longer these companies are actually going to survive considering most of them are borrowing to pay off other debts?

The staggering number is AT&T. The following text is form a mailing list post: “If you assume for example, that Verizon has notes of 10-year terms, then
(if the notes are spread evenly) they will need to borrow some $4Billion
in the next 12 months. If the terms are a lot shorter, then the amount
to borrow goes up significantly of course…”

Let’s thank Congress for the selloff…it’s not going to stop today

Thanks For the Crash CONGRESS! – The Market Ticker

This is the beginning.  Once Paulson(who helped create this mess and is now supposed to fix it..RIGHT!!!) spends all of this non-existant cash and devalues the dollar even more that’s when folks will wake up and go oh crap and bail out.  I’m no economist but 8k Dow anyone?  The ticker guy posted a bit soon..the Dow closed below 10k.

Major U.S. Indexes
9955.5
-369.88
-3.58%
1,466,812,000
1862.96
-84.43
-4.34%
1,545,149,600
1056.89
-42.34
-3.85%
6,251,948,800

Now let’s see how badly the mismanagement goes

Administration rushes to begin financial rescue – Economy in Turmoil- msnbc.com

Paulson..the head of one of hte big five banks that no longer exist is now taked with trying to rescue the economy..oh this is going to be painful to watch considering how badly leveraged most american households(not this one though).  Hang on folks.  Thing is..the actual effects aren’t really known despite the prognostications of the gov’t.  Due to the way the tax code is written if the banks can sell these bad loans to the gov’t at a loss then they write off these losses on their taxes which reduces the income to the treasury and therefore adds to the cost of this bailout.  Also consider that the other news of the economy is going negative.  Wasn’t the bailout supposed to help main street?  It helped wall st but it’s going to screw main street.

The 700 Billion Dollar smokescreen

Banks, firms borrow record amount from Fed – Economy in Turmoil- msnbc.com

let’s see that’s a total of 311.5 BILLION just this past week.  That’s not including the 398 BILLION Bernake has pumped into domestic AND FOREIGN markets over the past couple of weeks.  So far the gov’t has blown 794.5 BILLION between AIG and the previously mentioned amounts.  Folks if this bill passes it’s 1.4 TRILLION or more than 10% of our current noational debt that’s going to be flushed down the toilet.  Contact your House representative..over and over and over again.

The Bailout Grows many more heads…and a great speech is given.

Give me a break, a tax break — or else – Capitol Hill- msnbc.com

This learnean hyrda of a disaster has just grown more heads.  Read above.  Folks we need to ge the house to stomp on this..once and for all.  This bill further drives us into the entitlement culture and socialism.  heck, even the global warming nazis get a bone in here.

Oh man,  scanning some of my favorite blogs i found this link that goes to the below video.  Listen closely int he beginning about congress soiling themselves…how classic!!!

Want to see how precarious our economic situation really is?

China Declares Economic War? – The Market Ticker

This  isn’t about the US…it’s the countries we owe money to(aka our national debt. ).  I’ve seen this being mentioned at newsmax and worldnetdaily for years now about how the saudis and chinese(the two biggest holders of us debt) can bankrupt this nation by calling in all of the debt they hold.  It appears this is exactly what is happeneing on a small scale.

Chicken Littling This Administration has Done and is Doing

The Big Picture | We need to act quickly on the Bailout!

Never mind the fact this “disaster” has been “looming” for a week.  Where’s the huge crash?  It’s going to happen bailout or no.  Also 700 bilion is hte tip of hte iceberg.  The fed has already spent 680 BILLION pumping non-existant cash into other markets trying to prop them up..that makes 1.3 TRILLION so far..not counting fannie, freddie, and AIG.  Wake up folks.  This is simply Bush and CO trying to screw us out of more future monies and leave us holding the dust.

Something else is the reasons for this theft are…we have to get the credit markets going again.  Credit=debt.  The entire economy right now is running on IOU’s.  Individual Americans are TRILLIONS in debt.  Corporations are running literally off borrowed monies.  I heard several times about business failures due to the fact they could not get credit(aka borrow the money) to make payroll or finance their ongoing operations.

HELLO?!?!?!?!?!  If you have to borrow to make payroll you’re broke!  You need to cut expenditures..now.  Borrowing to make payrool is like borrowing from one credit card to pay off another.  This is totally unsustainable.  The amercian(and most likely global) economy is highly over valued, waaaaay over leveraged(aka too much debt) and doesn’t have the actual cash to cover their payments.  Even with this theft this house of cards will fall down.  The gov’t assertions of preventing disaster are false and stupid.  Everyone..get rid of all credit cards..live within your means..tithe, and pay down all debts as fast as you can.  Being out of debt or being lightly leveraged(aka little debt load) is the only way to survive the coming downturn.

We’re BACK!!!

Thanks to WP’s easy backup processes I at least got the posts backedup before the database hosed itself..:)  New posts on this bailout to come..and they monster isn’t dead..it’s a hydra with a new head(called the senate version) ready to spring on us.