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Dennis Dollins
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Interesting set of minutes from the Federal Reserve.  Specifically the last few paragraphs before they broke for lunch.  If you're in the markets (stocks, funds, 401k etc) then you may want to consider setting a fall back, finding a shelter for awhile.  If you're not 100% assured of your job then touching up your resume if there was another 2008 this year or next and some 'downsizing' might not be imprudent  - 

http://federalreserve.gov/aboutthefed/fac-20130517.pdf

"There are potential risks associated with current policy. The Fed’s securities purchases
have reduced mortgage yields and, to a lesser extent, Treasury yields. Current low bond
yields are disruptive to management of fixed-income portfolios, retirement funds,
consumer savings, and retirement planning. They may encourage unsophisticated investors
to take on undue risk to achieve better returns. MBS purchases account for over 70% of
gross issuance, causing price distortion and volatility in the MBS market. Fixed-income
investors worry that attractive mortgage-backed securities are in very tight supply. Higher
premium coupons carry too much exposure to prepayments, potentially led by new
government support programs for housing. Many are concerned about the Fed’s significant
presence in the market. They have underweighted MBS in favor of corporate, municipal,
and emerging-market bonds. There is also concern about the possibility of a breakout of
inflation, although current inflation risk is not considered unmanageable, and of an
unsustainable bubble in equity and fixed-income markets given current prices.
• Further, current policy has created systemic financial risks and potential structural
problems for banks. Net interest margins are very compressed, making favorable earnings
trends difficult and encouraging banks to take on more risk. The Fed’s aggressive
purchases of 15-year and 30-year MBS have depressed yields for the “bread and butter”
investment in most bank portfolios; banks seeking additional yield have had to turn to
investment options with longer durations, lower liquidity, and/or higher credit risk. Finally,
the regressive nature of the artificially compressed savings yields creates pent-up demand
within bank deposit portfolios; these deposits may be at risk once yields begin to rise and
competitive pressures increase.
• Uncertainty exists about how markets will reestablish normal valuations when the Fed
withdraws from the market. It will likely be difficult to unwind policy accommodation, and
the end of monetary easing may be painful for consumers and businesses. Given the Fed’s
balance sheet increase of approximately $2.5 trillion since 2008, the Fed may now be
perceived as integral to the housing finance system."

You'll all be happy to hear that per the official released numbers Americans managed to put $977 in savings last month.  On average.  Per person.  As in every single man, woman and child in the country each increased their personal savings accounts by $977. 

Go U.S.!  Or rather you guys.  :(

I'm ashamed to say I failed you all.  You all had to pick up my savings slack because there's no %)%!)%8 way in hell I could keep up my end of that particular deal. 

Or in other news, you'll be happy to hear the 1% are doing all the heavy lifting for the other 99% in making sure that the average savings is awesomely high.  Those guys are so great and self sacrificing to cover the rest of our savings burden that way....

Note:  There may be some level of sarcasm in the above, I'll leave it to you to figure out how much...

We're one step closer to the holodeck - 

NASA is funding research into 3D printed food which would provide astronauts with meals during long space flights. The futuristic food printers would use cartridges of powder and oils which would have a shelf life of 30 years

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Interesting product for gaming and GM's -  

http://www.storycubes.com/products

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Ohhhh, well you know the rest.

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If you like zombies and mine craft you might like this - 

7 Days to Die Pre-Alpha Gameplay Trailer

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Pretty cool stuff if you have a need for something like this - 

http://labs.bittorrent.com/experiments/sync.html
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