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NEH.... Aaah Yes! Sturmey made my first set of gears on which I must have ridden several thousand miles.

I was thinking of them recently when in REI I spotted a SEVEN speed bike with the all in a S-A type hub!

Poor Schwinn, another example of apparently fat dumb and happy Americans -- a family not a corpie in this case, snoozing far too long. WELDED 42 pound Varsities with a heavy steel Ashtabula crank???

"Funny thing" a few years earlier they were ON it with the black and chrome Phantom, and later the Stingrays with "banana seats" in metal flake colors. When "10 speeds" took off they HAD the excellent Paramount that is a rare collector item today, but blew it on 10 speeds for real people...... and blew it again when "mountain bikes" came along.

Also "funny" is their having been involved in restraint of trade suits for many years.

The Brits? With the headstart of Raleigh, quite a nice frame and bike at the time, I don't think they ever built a derailleur and had to use the mediocre, at best, Huret from France. France was a little ahead in using new tough plastic in it's Simplex derailleurs that were on most of the Peugeuots. sp

One more "funny thing? Perhaps as with cars, Italy made the most beautiful racing and "art" bikes with the Colnago's Masi's, Cinelli's with Campagnolo gears et al but could NOT make a price competitive sport bike.

Japan ate all their lunches .......... and high teas on bikes, motorcycles, sport and production luxury cars. A lesson for America?


Well, Retta..... yeah, IF Americans ARE a highly productive people and MOST of us have a chance to go to our individual jobs fairly regularly, AND the fruits of our labors are NOT skimmed off and wasted by the top few percent and our WS thieves, we SHOULD, if we act wisely on energy et al, continue to enjoy a high std of living regardless of what happens beyond our borders.

But! even a ten cylinder engine will not run smoothly or produce its expected power if one cylinder doesn't fire, and! if one adds too much steel and luxurious appointments to it, we NOT be surprised to see it's once powerful engine not pulling the freight.


Good luck with the book,everyone always brings this up! Enjoy


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an observer


September 12, 2011
August’s selloff was the first tremor of the coming fiscal earthquake
 Slowdown risk was partly responsible for August’s market downturn but fiscal adjustment cost
discounting is the reason for the outsized selloff. Shocked into deeper awareness, asset managers
started asking how companies might be hurt by spending cuts and tax increases needed to achieve
fiscal sustainability. They realized three things and started selling --
1. Big-time fiscal stimulus is a thing of the past. Loss of fiscal stimulus is one of the costs smart
investors began to factor into their valuations of company debt and equity.
2. Companies will be hit directly by austerity driven spending cuts and tax increases and so will
their customers. These fiscal adjustment costs need to be included in company valuations.
3. Most investors haven’t caught on yet. If large positions need to be scaled back or protected
by derivative hedges, this needs to be done now before fiscal adjustment cost discounting
becomes widespread.
 The Budget Control Act (BCA) did not represent any real progress in solving the underlying drivers of
public debt, and it allows Congress to kick the tough decisions even further down the road, increasing
crisis risk and the ultimate amount of fiscal austerity. Furthermore, the fall calendar is too packed
with deadlines and the partisan environment too polarized for any meaningful progress on a job
creation agenda.
 Growth assumptions in budget projections are too optimistic. Below forecast growth means the deficit
will grow faster than forecast, and the U.S. government may hit the debt ceiling again before the
November 6, 2012 election.


Observer, And so the solution is? Gold, Diamonds, cash in the pillow case or shoe box in the closet? Or mason jar in the back yard?
I don't think the Financial Industry is in quite these dire straits... Beware of any and all analysis pointing to "Gloom & Doom" or a drop into the Abyss. There are many out there who are driven by their own Agendas. Some of which are vested heavily in the Negative Derivatives Market. It's all about Advertising and Marketing. Fact and truth has nothing to do with it...

Air Max

Becker's arguments are great. but it seems difficult for understanding.
Although this article is great, i learned very much from it.thank you for sharing.


all over the world economic wise downsized some countries are stable while are downsized it will recover but very slow process.

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"This recovery has been so slow in good part because small and large businesses are reluctant to hire workers for the long term and to invest in durable physical capital since they are concerned over the UNCERTAINTY and level of the long-term taxing, regulatory, and fiscal situation of the United States."

Would someone please explain to me how one quantifies the oft-repeated references to businesses being concerned over "uncertainty." That's a rather vague assertion.


"This recovery has been so slow in good part because small and large businesses are reluctant to hire workers for the long term and to invest in durable physical capital since they are concerned over the uncertainty and level of the long-term taxing, regulatory, and fiscal situation of the United States."

I am sorry you don't think businesses can handle political uncertainty. That is a problem in a country that has national elections every two years.

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Do you really have to? The study tentatively recommends that the life-saving kits be issued to “some first responders, health care providers, and other workers that support critical infrastructure, as well as their families.” Apparently medical workers aren’t too stupid to live, according to the Institute of, uh, Medicine. And neither are government workers – those postal workers, the cops that will have to accompany them, and anybody else in government who’s smart enough to call himself a first responder (want to bet that includes the Governor?).

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As for the Infrastructure problems confronting this Nation, this is due to an old, old Budgetary procedure known as "Robbing Peter to pay Paul". Essentially, you forgo Maintenance and Repairs on Capital and Infrastructure for period. This then gives you extra finances to use as you so desire. This is a short term, not long term budgetary fix. If it is tried in the longterm, Capital and Infrastructure reach a critical state where Maintenance and Repairs must be made or the Capital and Infrastructure fails, sometimes catastrophically, and becomes scrap. Dragging the Nation or Industry down Economically. This is where we are at today. Nationally, at the State and County level and Locally. We have been robbing Peter to pay Paul far too long and it is now time to ante up.


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