Will the ruptured well head of BP’s wrecked Deepwater Horizon spewing thousands if not millions of barrels of oil into the Gulf of Mexico, the outlook is not promising. How much is leaking seems to be a mystery but there are a wide range of estimates. Regardless the outcome has been disastrous and time will tell the impact on the fragile Gulf eco-system.

According to NOAA, an estimated 210,000 gallons (5,000 barrels) a day is coming from the remaining ruptures. At that rate, this leak would surpass the 11 million gallons spilled by the Exxon Valdez in 1989 in mid-June if left unchecked.

Outside experst say it over 1 million gallons per day. BP’s worst case is 2.5 million gallons.

Thanks to PBS.org for this meter.

OK, so I am not an oracle or a CIO, CTO or App. Developer, but I am a bit of a techno geek and anything that has to do with new technology does intrigue and interest me.

If you particularly think about the web technology that exists today in 2010 and look back 10 years to 2000, you are blown away by the changes and advancement. This has not only been spurred on by both hardware and software development from large companies like Apple, IBM, HP, Intel and Microsoft to name a few but also by thousands of smaller micro companies and individuals who invent things along the way, throw them out there and see if they stick. No Facebook, Twitter or YouTube ten years ago and now today we couldn’t imagine the web without them.

Just recently there were some stats published that internet usage has surpassed TV viewing and social networking as jumped past email in terms of use. These are major changes in the technology ecosystem.

So here it is. My list of “things” that will be a memory (Or 90%+ on it’s way out) in the next ten years because of the advancements mentioned above.

1. Mail – There have been already large reductions in tradional mail and these declines will continue. Infrastructure and therefore costs are too large.

2. Newspapers – The conventional paper printed on newsprint with ink. Bye Bye. Replaced with online versions deliverred on iPad’s, tablets, iPhones, smartphones and other mobile devices as well as the web. Many news outlets producing content today will also die a slow death.

3. TV News – One word. REDUNDANT. With streaming video, micro-blogging, and citizen journalism, TV news will not survive, just not fast enogh to get you the news when you want it. The rest of TV programing will be affected as well but later on that one.

4. Home phones – These will be made redundant by wireless mobile devices and internet protocol calling. Video conferencing is now all over the web so it will also migrate more fully to wireless.

5. Console Video Games – As bandwidth opens up to residences and more computing and development moves to the cloud. Say good bye to your XBOX, PS3 and Wii. Too slow and costly compared to what will be delivered through the web.

That’s it. Not conclusive but the best SWAG I can put into this blog. And no I didn’t use the “Magic 8 ball”.

Just an observation lately as I am out and around more in public during the weekday 9-5 hours.

Is it possible to complain more than a senior, I mean how bloody “bitchy” can old people be?

Now I don’t want to limited my definition of old people or seniors, but lets just categorize them as the ‘Silent Generation” as defined here. These are the wonderful folks who are technically retired and contribute to our society during their limited waking hours. Whether I come across them backing out or pulling into a parking spot at the local grocery store, waiting in line for a prescription at the pharmacy or god forbid in line at the Drive Licensing office; all I hear is whining and complaining. And the sense of entitlement is overwhelming. When did they get this “fuck you I’m old and I go first” attitude. Wasn’t their generation the hot bed of courtesy and decency in the our social evolution?

And the speed. Ok…I’m impatient, I will admit that, but short of close-lining “Granny” in order to get a shopping cart how can I get things moving. I did say excuse me but she didn’t hear me. (Deaf of course).

What discourages me is the level of service they demand in our self service society. They are the ones in the lineup at the bank, for what I do online in a fraction of the time – it’s called convenience. When I actually go to the bank it’s fucking important and the last thing I want to do is wait 45 minutes as the “blue rinse” gals get fucking money orders for their grand kids birthday cards….give them cash for Christ sake, there are six empty ATM’s over there.

Oh and here is the capper! 147 percent growth rate in the “senior set” population between now and 2050. In the US that means there will be 86.7 million people who will be 65 or older in the year 2050, that’s 21 of the population. I’m not gonna make it!

Having been involved with the magazine publishing industry on and off for years, here are a few thoughts on the impact of technology and the ownership of media. People in publishing are great, they are creative, they know their readers, and they know their advertisers. The medium hasn’t changed since it was invented, that being ink on paper aside from some slight of hand to get the words on the web. Reading a magazine is a tactile experience, it is portable, available on demand when you want it. Some of the best reading is done in the bathroom in my case. What the magazine is not, is interactive, immersive, or a two way communication medium. Editors realize that understanding their readers is the key component to telling an effective story; two way interactive communication makes this easier. Now changes in technology like the impending release of Apple’s iPad will impact greatly how this content is presented. The folks at WIRED magazine (which of course is a technology magazine) get it! Period. They understand what the new technology means to their readers, their designers, editors, sales people and ultimately their advertisers. They are working with partners like Adobe to deliver what is a potentially kick ass content experience that will see people never going back to the old paradigm.

The video below shows how WIRED is tuning it’s iPad application and what they call digital story art.

What is important here is the word art. Art is innovative, creative and according to the general concept definition from Wikipedia “Art is the process or product of deliberately arranging elements in a way that appeals to the senses or emotions”. Once you see the WIRED video this definition will hit home.

Now the rant about the old school model. The problem I have with magazines is the ownership. Particularly media owners like Rupert Murdoch and his News Corporation and the bunch of douche bags that run Viacom, Walt Disney, Time Warner, Hearst Corp. and so on and so on blah blah blah. By the way WIRED is owned privately by Advance.net, and Advance Publications.

These conglomerates are arrogant and narrow minded, especially Murdoch. Recently he displayed his arrogance with the statement; “content is not only king, it is emperor of all things electronic”..

Declaring News Corp “the world’s preeminent content company”, Murdoch said “devices and platforms are proliferating”. And regarding the iPad; “But this clever technology is merely an empty vessel without any great content,” he said. “Without content, the ever larger and flatter screens, the tablets, the e-readers and the increasingly sophisticated mobile phones would be lifeless.” His point of course is that his companies are the emperors of the content with the likes of the Wall Street Journal. The WSJ is the only paper in his stable that charges for content at this time. Murdoch thinks this “paywall” model will become the saviors of the ink on paper scrolls. This is not likely in the iPad world. Apple will control the channel and Murdoch will get his piece along the way. Word’s on the screen however cleverly written won’t be able to compete once the new interactive model becomes ubiquitous.

What Murdoch owns are the bricks that this empire were built upon but not the people inside his walls. It is the people who are the vessels of this new digital art and they dont need a New Corp. cubicle to deliver it. That is the great thing about the Internet, Mr. Murdoch doesn’t control it, its network, it’s content or it’s users or even this this bloody blog.

There will be no room for Murdoch in this world in ten (maybe five) years unless he decides to change. He’s 78 years old and a billionaire…he’s not going to change and I won’t pay for his crap content.

It seems there are some serious inept Facebook users who when going to login into Facebook simply Google “Facebook login”. Since Facebook has made some changes lately to it’s login page it seems to have lost some Google ranking in the search for “Facebook login”. What took it’s place was on article from Read Write Web on AOL and Facebook integration. Here is the funny part…even after clicking on the first link in the Google search the FB users left comment on the RRW page indicating their displeasure with the “new” Facebook. So many comments were logged that RRW had to place a disclaimer in their post…see below.

RRW Disclaimer over Facebook login

HOW are you not able to find Facebook on the internet. Reminds me of some search stats from Google from lats year that had the Term “Google” ranking in the top ten. People Googled Google WTF?

You know everyone takes themself’s too seriously, I mean don’t be so bloody pious and snotty! I don’t see how this “smart” commercial for Audi is controversial. Does it mock the environmental movement?…YES, even if that was not (maybe not) the direct intention. Look, funny is funny, and the more you move to the right or left of the “politically’ correct centre then the funnier it is.

The tree huggers deserve some more bashing, they have had an easy ride for too long now.

Personally I like to grab a “BRICK” of napkins when I chow down on my calzones, fucking things are messy, what am I going to do, wear a towel??

Here is another example of how Goldman is robbing the public.

1. IndymacBank was seized by the FDIC (Federal Deposit Insurance Corporation) in July of 2008.

2. The assets of IndymacBank was sold to a company called OneWest Bank by the FDIC.

3. Who owns OneWest Bank you ask? That is Stephen Munchin. Yes the VP of Goldman Sachs – Stephen Munchin. Also, Goldman clients George Sores and John Paulson (these two guys speak for themselves).

4. All mortgages were sold to OneWest Bank by the FDIC for $0.70 on the dollar.

5. In addition, the FDIC guaranteed to cover between 80% and 95% of the losses that OneWest Bank may experience as the result of purchasing the mortgages.

Why is this so bad for you and me? Here is where it gets scary.

6. In case of any losses by OneWest Bank, the calculations are done on the ORIGINAL MORTGAGE VALUE and not what OneWest Bank paid for the mortgage.

Image by Ingram Pinn

Here is an example:

If the original mortgage was for $300,000. OneWest Bank paid $210,000 for it ($300,000x 0.7 – $0.70 on the dollar).

If the house goes into foreclosure or a short sale situation, then the property is put on sale. Let’s say the highest bid for the house in foreclosure is $200,000.

Technically, OneWest Bank lost $10,000 ($210,000 what they actually paid for the house to the FDIC minus what the house sold for $200,000).

Does the FDIC cover between 80% – 95% of the $10,000 that OneWest Bank actually lost? NOOOOOOOO! They guaranteed to cover 80% – 95% of the losses using the ORIGINAL MORTGAGE VALUE.

In this instance, let’s say the FDIC guaranteed 90% of the losses. So using those numbers, the actual amount that the FDIC pays OneWest Bank is $90,000. That is 90% of the difference between $300,000 (the original value of the mortgage) and $200,000 (what the house sold for).

What does OneWest net out from this deal?

So OneWest Bank gets:

$200,000 from the new buyer of the house.

+ $90,000 from the FDIC.

- $210,000 (what they paid to the FDIC).

=$80,000 on a $210,000 investment. A tidy 39% return on their money.

WOW, IT IS GOOD TO HAVE FRIENDS IN HIGH PLACES.

Oh by the way, OneWest Bank may collect more as it is asking the person walking away from the house to sign promissory notes for about $50,000. They are trying to collect more money from the original home owner.

IF THIS KIND OF MONEY CAN BE MADE FROM SHORT SALES AND FORCLOSURES, WHY WOULD OneWest Bank want to modify any mortgages for the current home owners?

Oh by the way, that is the same FDIC that just announced that it needs to borrow money from the US Treasury at 0% interest and with little hopes of ever paying it back. The US Treasury just approved them to borrow from them at 0% interest. By the way, do you know where a lot of ex Goldman employees currently work, you guessed it. The Treasury.

1. They put together a financial derivative product. It is just a bunch of financial things put together including mortgages, futures, etc. Let’s say that’s a car.

2. They sell the car to financial dealers who sell it to their clients.

3. Goldman now goes to AIG and says “let’s make a bet that the car will break down” .

4. AIG says great. I assume you will bet that the car will not break down since you put the car together.

5. Goldman says no, we want to bet that the car will break down.

6. AIG says wait a minute, why would we take that bet?

7. Goldman says because the AIG department that they are talking will make $600 million in bonuses from the deals.

8. The AIG guys says great, I want the bonus so I will take that bet.

9. Goldman already knows the car is going to break down because they built the car.

10. The car breaks down and Goldman wants their money from AIG.

11. AIG does not have the money to pay Goldman.

HERE’S WHERE THE TAXPAYERS COME INTO THE PICTURE

Geitner and Paulson (ex Goldman guys) convince congress to bail out AIG. AIG pays out the bets in full to Goldman. No negotiating, no discounting. Why did they do this? Selfishness and greed.

You see Geitner and Paulson have huge pensions with Goldman. If Goldman goes under because AIG can’t pay them, their multi million dollar pensions are gone.  It is in their best interest to not only make Goldman survive, but have them thrive.

JUST WHEN YOU THINK THESE LOW LIVES GET ANY LOWER…..

It has now been shown that Goldman took out bets against AIG being able to pay out the bets that AIG made with Goldman. So Goldman knew that AIG could not pay out the bets it made with itself. So if AIG goes down taking the US economy with it, Goldman does not care as it profits. In fact, I think they wanted AIG to go down as current e-mails found at AIG shows that Goldman was playing hardball with AIG and not willing to negotiate any settlements.

These guys have no morals at all.  They don’t care if we have 25% unemployment, just as long as they make their money.

If the public does nothing and let’s things like this go on, then we deserve everything we get.  We have clearly become sheep.

http://www.flickr.com/photos/amagill/CC BY 2.0

Adblitz has provided all the Super Bowl ads on their You Tube channels as they happen.

Check it out here.