Nice day in Albany
Empire State Plaza
The Outlet that Saves Lives
Ground Fault Circuit Interrupter or GFCI outlet is the hero in the washrooms! Make sure you have it installed, and you plug your electronics in GFCI.
5 Upstate NY cities rank among worst places to retire in the U.S.
New York probably comes out ahead if people move out of the state to retire. Medicaid is a driving cost of state and county budgets, and many retirees will end up racking up large bills that are ultimately paid by Medicaid in their final years.
Long hot summer of 1967
"Long hot summer of 1967 refers to the 159 race riots that erupted across the United States in 1967 that left 76 people dead, 2,100 injured, and 11,000 arrested for participating in riots."
"In June there were riots in Atlanta, Boston, and Cincinnati, as well as the Buffalo riot (in Buffalo, New York), and a riot in Tampa, Florida. In July there were riots in Birmingham, Chicago, New York, Milwaukee, Minneapolis, New Britain, Conn., Rochester, N.Y., and a riot in Plainfield, New Jersey."
"The most serious riots of the summer took place in July, with the riot in Newark, New Jersey and the Twelfth Street riot, in Detroit, Michigan. As a result of the rioting in the Summer of 1967, and the preceding two years, President Johnson established the Kerner Commission to investigate the rioting."
This Day in History – Woodstock Music Festival Opens
"On this day in 1969, the Woodstock Music Festival opens on a patch of farmland in White Lake, a hamlet in the upstate New York town of Bethel."
"Promoters John Roberts, Joel Rosenman, Artie Kornfield and Michael Lang originally envisioned the festival as a way to raise funds to build a recording studio and rock-and-roll retreat near the town of Woodstock, New York. The longtime artists’ colony was already a home base for Bob Dylan and other musicians. Despite their relative inexperience, the young promoters managed to sign a roster of top acts, including the Jefferson Airplane, the Who, the Grateful Dead, Sly and the Family Stone, Janis Joplin, Jimi Hendrix, Creedence Clearwater Revival and many more. Plans for the festival were on the verge of foundering, however, after both Woodstock and the nearby town of Wallkill denied permission to hold the event. Dairy farmer Max Yasgur came to the rescue at the last minute, giving the promoters access to his 600 acres of land in Bethel, some 50 miles from Woodstock."
"Early estimates of attendance increased from 50,000 to around 200,000, but by the time the gates opened on Friday, August 15, more than 400,000 people were clamoring to get in. Those without tickets simply walked through gaps in the fences, and the organizers were eventually forced to make the event free of charge. Folk singer and guitarist Richie Havens kicked off the event with a long set, and Joan Baez and Arlo Guthrie also performed on Friday night."
Is a Chinese Automaker Buying Detroit’s Fiat Chrysler?
"Is one of Detroit's Big Three for sale to the Chinese?"
"Fiat Chrysler Automobiles has reportedly rejected an acquisition bid by a Chinese automaker — but a variety of analysts and observers within the auto industry believe it could be just a matter of time before FCA is given an offer it would be willing to accept."
"FCA was formed by the merger of Italy’s Fiat and Chrysler shortly after the Detroit carmaker emerged from its 2010 bankruptcy with the help of a massive federal bailout. Over the last several years, however, FCA Chief Executive Sergio Marchionne has made it clear he is looking for another partner and might alternately consider the sale of all or part of his company."
Gold Standard History and Facts
"By 1970, the United States only held $14.5 billion in gold against foreign dollar holdings of $45.7 billion. At the same time, President Nixon's economic policies had created stagflation. This double-digit inflation reduced the eurodollar's value. More and more banks started redeeming their holdings for gold. The United States could no longer meets this growing obligation."
"The gold standard ended on August 15, 1971. That's when Nixon changed the dollar/gold relationship to $38 per ounce. He no longer allowed the Fed to redeem dollars with gold. That made the gold standard meaningless. The U.S. government repriced gold to $42 per ounce in 1973, and then decoupled the value of the dollar from gold altogether in 1976. The price of gold quickly shot up to $120 per ounce in the free market."
"Once the gold standard was dropped, countries began printing more of their own currency. Inflation usually resulted, but for the most part abandoning the gold standard created more economic growth."
"But gold has never lost its appeal as an asset of real value. Whenever a recession or inflation looms, investors return to gold as a safe haven. It reached its record high of $1,895 an ounce on September 5, 2011. "