Category Archive: 2011

Jan 01

2011 Year-end Review

The Chinese called it the Year of the Rabbit. The United Nations dubbed 2011 the International Year of the Forest.  It was also celebrated as the International Year of Chemistry, International Year for People of African Descent and World Veterinary Year. It was the year that the Beatles and Manned Space Flight  turned 50. The Indianapolis500  turned 100 years old.  2011 also marked the 100th anniversary of:

  • International Women’s Day;
  • Parks Canada
  • Naval aviation (the 1st time an aircraft lands on a ship)
  • Crisco oil
  • the electric starter (now the only cranky thing in a car is its driver)
  • the arrival of Roald Amundsen’s expedition at the South Pole.
  • the Austin Dam collapse that wiped out the town of Austin, Pennsylvania, killing 78.
  • The 1st Monte Carlo race.
  • The 1st motion picture studio in Hollywood (Nestor Motion Picture Co.)
  • The song, Alexander’s Ragtime Band by Irving Berlin

 

In honour of the Chinese Year of the Rabbit, Halloween (October 31st) was just a little scarier last year as the UN announced it marked the birth of the 7 billionth earthling. Moreover, 2011 was also littered with other subtle reminders of mankind’s not so litter habit of littering the globe with litter ones such as the fact that,  commencing last January 1, between 7,000 and 10,000 North American baby boomers were turning 65 every day (and will continue to do so for next 19 years ending 2030).

 

The good news is that, as one of those aging boomers, I am not  remembering so well these days so this is bound to be shorter than my prior year-end reviews. The bad news is that bad news is pretty much all that I expect we are going to encounter in the following pages.  Those of you who prefer not to be reminded should probably skip ahead to my (always optimistic) Predictions for the Year 2011.

 

For those who haven’t heeded my warning, buckle up your galoshes and let’s wade into this latest installment of my annual awards and stories.

Jan 01

Story of the Year for 2011

Earthquake and Tsunami in Japan

The magnitude 9.0 earthquake that occurred off the coast of Japan on Friday, 11 March 2011 was the most powerful earthquake ever to have hit Japan. The earthquake triggered powerful tsunami waves that reached heights of up to 40.5 metres (133 ft) and traveled as far as 10 km (6 mi) inland. The earthquake moved Honshu 2.4 m (8 ft) east and shifted the Earth on its axis by estimates of between 10 cm (4 in) and 25 cm (10 in).

The Death toll sits at 15,844 deaths, 5,890 injured and 3,451 people missing as well as over 125,000 buildings damaged or destroyed including the ongoing meltdowns at three reactors in the Fukushima I Nuclear Power Plant complex. The World Bank estimated the total economic cost at US$235 billion, making it the most expensive natural disaster in world history.

Jan 01

Feel Good Story of the Year 2011

“Why won’t they eat their vegetables?”

 

This feels more like an “its good for you” story but, in a year that was basically a cacophony of harsh headlines, it is the only thing I could pound into this placeholder. The main premise is that parents need to understand a little about biology and animal survival theory that goes something like this: babies are born with more taste buds than adults, a biological mechanism that “protects children from eating something rancid or poisonous…” This is also one of those, “if I knew then what I know now stories” that might be helpful for any new parents that you know out there.  See the story here.

Jan 01

Sleeper Story of the Year 2011

US Banking on Mayan School of Debt Management philosophy

 

The U.S. Public Debt topped $15 trillion dollars in December 2011. This figure has been growing every year since 1961 with one notable exception being 2001 when tax revenue was artificially inflated by the “dot.dumb” bubble. If the two richest Americans (Bill Gates – $59B and Warren Buffet – 39B) donated their fortunes to write off some of that debt, they would only cover the $.098 trillion that I rounded off of the actual deficit to get a whole number.   If each of the 140 million American taxpayers were required to pay that debt tomorrow they would each be required to cough up $107,143.  Not to worry though, if the Mayan’s are right about the world ending in 2012, there will be no-one around to collect.

Jan 01

Innovation of the Year 2011

Taxes in Greece 

Although your average Greek has yet to embrace this innovation like they might an Apple iPhone for every pocket or a Lamborghini in every garage, this remains the single most innovative concept of the year 2011 and just might be crucial in the world’s ability to finally shed its yoke of slavery to the (not as ancient as we thought) Greek empire.

Jan 01

Re-run of the Year 2011

“Bail-Outs for the Rich and Shameless”

They’re baaaaack!  Yes, the banks appear be “Greecing” the wheels to recovery from some (more) of their bad investments at the expense of you and me.      Having made their fortune milking the sub-prime mortgage and loans market state-side and then sticking us with the bill, we now learn that the banks need to dip into our pockets and life savings (that will now conveniently fit into our pocket) once again to underwrite their latest ingenious round of investments – this time it was in sub-par European states. There is as yet no explanation for how they became so heavily invested in a country (Greece) where even the landed billionaires were apparently living beyond their means (if not below the poverty line).

 

In a related story we hear, “The world’s rich are restless, says a Canadian lawyer specializing in ‘tax-efficient citizenship, residence and domicile solutions’, whose clients are worth between $30 million and $1 billion. Most work in financial services… Last year, nearly 12,000 people moved here under the federal government’s Immigrant Investor Program…Tax specialists even use terms like “the Great White tax haven” and “Switzerland of the North” when talking about Canada.”

Jan 01

Statistic of the Year 2011

“Greeks in your Pockets”

Greek economy (GDP) as a % of EU economy (where we do not live) 2.02%
Greek economy (GDP) as a % of OECD economy (which we share with them) 0.77%
Greek economy (GDP) as a % of world economy (which we also share with them) 0.51%
Greek impact (i.e. net reduction) on a typical retirement savings portfolio (mine – which according to banker logic we also share a lot more with them) 7.72%

Source:  An ordinary Google on the World Bank and Organization of Economic Cooperation and Development (OECD) databases as they relate to the Gross Domestic Product (Purchase Power Parity) of Greece …and my Registered Retirement Portfolio statement from last year.      

 Runners up:

“There are more $80,000 Porsche Cayenne SUVs registered in Greece than there are people declaring income of $70,000 or more.”

— Maclean’s magazine

Google’s data centers continuously draw 260 million watts- roughly a quarter the output of a nuclear power plant – to keep services like Gmail, search, Google Ads, and YouTube up and running around the clock and around the globe.

— Popular Science magazine

 

Jan 01

Movie of the Year 2011

This might just have been the poorest year for the silver screen in recent memory (i.e. since I poured my first glass).  It was more of the same old, same old  vampire-zombie-werewolf flicks, comic book hero rethinks, remakes of remakes and other Hollywood franchise partsinfinity+1 – e.g. “Final (?) Destination – Part 5(??)” pretty much summed up what the year had to offer.  All the special effects, gore, dirty language and sexual in(and out)uendo that they could pack into that one, cannot hide how blatantly wrong such a concept should come across in the prior to previously preliminary first place.

 

Honourable Mention:  Cowboys and Aliens”

Sci-fi in the old west.  An innovative combination of old genres.  A sweet Reese’s Peanut Butter Cup (“you got chocolate on my peanut butter”) moment for Hollywood among an otherwise tasteless smorgasbord of blah.

Jan 01

Song of the Year 2011

Nothing I have heard this year in any genre would have made my honourable mention list in prior years.

Honourable Mention: If I Can Get Through This by The Art of Dying

… alas this one was actually a song from 2007 that was re-released on the 2011 as part of the Transformers Movie soundtrack.

Jan 01

Book (I have read) of the Year 2011

“Moonwalking with Einstein” by Joshua Foer

It’s a book about memory.  I forget what I liked about it, but I seem to recall passing more nuggets of wisdom from this book along to anyone who would listen than from any other book.  I am pretty sure there is some stuff in there that we can all use to remember better; however, that would imply that there is a lot happening today that we really want to remember.

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