Wednesday, April 25, 2007

the grab bag # 7

Lots of For Sale signs sprouting like psilocybin mushrooms out there.

I say that because the etymology of psilocybin is:

1958, from Mod.L. psilocybe, name of a Central Amer. species of mushroom, from Gk. psilos "bare" (akin to psen "to rub") + kybe "head."

Online Etymology Dictionary, © 2001 Douglas Harper
"bare head" - as in - "no helmet to protect the head in the case of a crash". Or if you go with psen "to rub", it is akin to scratching your head in disbelief, or such. Hmmph.

The buyers must be hallucinating.

In other vistas, Fannie Mae is accused of fraud by KPMG.
KPMG claims fraud at Fannie Mae
By Bloomberg News | April 21, 2007

WASHINGTON -- KPMG LLP sued former auditing client Fannie Mae, the biggest source of money for US home loans, for "fraudulent deception" that prevented KPMG from uncovering $6.3 billion in overstated earnings.

Fannie Mae from 1998 until 2004 withheld and distorted its accounting, engaging in "breach of contract, fraudulent misrepresentation, fraudulent inducement" and other wrongdoing, New York-based KPMG said in an April 16 filing with the US District Court in Washington. A Fannie Mae spokesman declined to comment.
Uh oh. That's big. Isn't it? Isn't that like CHMC being accused of fraud? How come nobody is talking about this?

I heard the chief Of West Fraser Timber (2nd biggest in Canada) saying that the forestry business in Canada is well into recession (on CBC radio). Um, isn't forestry the biggest exporter of the BC economy, and one of it's biggest drivers? Or are things different now?


Anonymous said...

Cameron Muir was just played on CBC radio - paraphrasing - 'House sales will decline this year and next. In response prices will slow allowing wages to catch up. This is good for buyers.'

M- said...

Of course, IIRC, he also said that prices would rise 8% this year and 7% next year, which is nice and slow so that wages can rise to catch up...