Executive Chief of Google Blames America For Economic Downturn

Eric Schmidt and Google Co-founders Larry Page and Sergey Brin

Google’s Eric Schmidt had a few words to share on what or WHOM he thought caused the financial crisis and surprise he blames America! But honestly, we knew this. Information concerning overpaid Wallstreeters created no wonder for us common as inevitably financial resources were exhausted so much so that the market was unable to keep up.

Schmidt says that in May 2008 he noticed a decline in the “metrics” that are used to measure advertising revenue from each click on a Google advert. All was not well in the land of Google.

“We couldn’t figure out why. Was it that people weren’t buying? We initially thought it was our error. Was it possible to make a mistake? Through the summer it was obvious that something had changed. It started in Britain in late May and I remember sitting there thinking what the hell is going on? Is this a trend, is this something unique to Britain? We now understand that it was a shift in consumer behaviour that was an early indication of what was to happen in banking.”

But Schmidt is certain of America’s culpability and wants to be clear “that the blame, to the degree that there was, is largely in the United States, not in Europe, not in Britain, and it was fundamentally because a low-interest policy created too much money. It was an easy-money policy and eventually an easy-money policy catches up with you. Remember what happened. Through a series of events in the mid-1990s, Congress increased the supply of credit for home mortgages, through the institutions Fannie Mae and Freddie Mac. They were essentially given too much money for political reasons. And then that was followed in New York by the repeal of Glass-Steagall which then allowed banks to use investment equity vehicles to create liquidity which creates very large amounts of money. So the banks are busy creating money and making a lot of money on that creation of money and the regulators were either, depending on your point of view, asleep at the wheel or did not have the tools to understand what was going on.”

Though Google stock itself is thriving in its third quarter even without their release of their revolutionary Nexus One last week, Schmidt does think about the million people who have lost jobs, or livelihoods or businesses and angrily recommends that bankers should stop lamenting about loss since ”the number of people who were hurt by the activities of the financial industry is so large [that] it is very hard to have a lot of sympathy with that industry given the high-flying nature of its behaviour, remember, many of these institutions privatized the gains and socialized the losses. [You could say] that the banking industry should not be regulated but it should also be able to fail — that’s called capitalism. It is very easy to understand. You’re a banker, you make a loan, and if you screw up you lose your job and the firm is liquidated. But if you pick any one of the financial companies [involved in the crisis] that is not what happened. What happened was the regulators decided that the pounding of the financial industry would have paralysed the world because of the inter-linking. I think that argument is correct. If your assumption is that there is a greater and greater concentration of large financial institutions that are too big to fail, well, they need to be more regulated. You cannot have a situation where you only win and do not lose in capitalism. At Google, if I lost $10bn in one day I would like to lose my jacket.”

We like the way you talk Mister, then again think of this. Schmidt admitted last year that the economy was taking a toll on Google and look where it is now! “”To fight that you have to actively manage the company. You have to take an aggressive position on investment, invention and innovation. And there are companies that have done this very well, for example Apple, which had a near-death experience and has come back with a tremendous performance, so it is possible to do it.


As one of most powerful CEOS in the world and co-chairman of this year’s World Economic Forum in Davos, Schmidt will be leading talks with Peter Sands, the CEO of Standard Chartered concerning 2010 themes of how ready we are to resuscitate the economy. He will also be heard by the likes of ”Bill and Melinda Gates, Howard Stringer, CEO of Sony, Sir Martin Sorrell, chief executive of WPP, Larry Page and Sergey Brin, Google’s founders, Lloyd Blankfein, chairman of Goldman Sachs, a sprinkling of royalty, a whole cadre of economists and academics and a fair few politicians including David Cameron and Tony Blair”, a powerful if not influential audience.

He says that ”it is easier for America to adopt permanent immense spending — the deficit that you can see — because of the role of the dollar as the world’s reserve currency.”

Also as a firm supporter of Obama, he commends him for the work he’s done despite the challenges he has faced in his first year as President.

Smart Smart Smart.

Grey To Dethrone Black This Winter

According to Lepoint.fr, it will. We think it’s a great idea to take into consideration. We already know that black is the safe choice that everyone inevitably chooses for elegance and poise but can you wear a little black dress during the day with the same effect? This does sound a little similar to Chanel’s new year resolution for lip wear.

However, grey does carry a sense of refined, sophisticated prestige and chic that black at times, cannot provide during the daylight hours. The grey trend has reached to influencing accessories, bags, smooth leather goods and velvet pumps. Not only this but it is also quickly becoming the new basic colour for fashion collections where the fashion designers imagine silouettes ”lined in wool, cashmere and satins”.

We like that imagery

It even says that for the house, grey is a lovely choice for sofa coverings, drapes or rugs. With that list, you’re sure not to run out of ideas.

Musée De L’Éroticisme

Only in France, only in France.

Antonio Fischetti and Charb have created an exhibition that has been described as a funny lexical tour of sex. It forms one of three parts of the triple exhibition dedicated to Charlie Hebdo.

The decline of births, Mother’s Day, pills for men or terrorism act as excellent subjects for politically incorrect covers. For example,

A big man with a moustache on all fours is nude, under the title ” Naked girl that makes it sell “. An old woman sits with naked buttocks reading the headlines of a weekly magazine, titled ” Finally a newspaper without an ass! ” which were all made in the spirit of Charlie, especially this last one dedicated to Tarzan who was created by Edgar Burroughs in 1912.

The society that manages the exploitative rights of his image have signed a contract guaranteeing a good perception to be made of their heros. “He can’t be disrespectful to God neither to his powerful attributes, nor be insensitive to the sanctity of marriage, religion or encourage illicit sexual activities”.

Charlie censured this responding with a savoury and irreverent image of a crucified, ridiculed and crushed on Tarzan whether he be in the supermarket or in the sexual act.

We translated from the original site so it seems as if Charlie was a satirist famed for his depictions of controversial politically incorrect images.

40 years of Covers: the triple exposition Charlie Hebdo, Musée de l’érotisme will be presented in Paris until May 31, 2010.

What do you think?

Stem Cell Facelifts Au Lieu Of Going Under The Knife

We wrote a few month ago about blood being re-injected into the face for a younger appearance. Unfortunately, we wrote this elsewhere before we opened this site.

However, now there is another way to avoid going under the knife as the world’s first stem-cell facelifts have begun being performed at the Harley Street Medical Clinic in London.

Like the amino-filled blood, it always requires being injected into the patient’s face. It takes about 5 hours to do requiring a simple local anaesthetic and works by taking fat and regenerative stem cells from the flabby parts on one’s body and injecting them into the face of the patient, which ”repairs and rejuvenates skin for up to 18 months”.

Stem cells, found in fat can ”recognize damaged tissue and repair it.” Its use is already being implemented to replace faulty heart tissue and restore vision in damaged eyes.

Dr Aamar Khan says the stem-cell facelift differs from ‘traditional facelifts [because traditional facelifts] do not add volume to the face or change the tone of the skin. In the stem cell facelift the volume and structure of the face is restored to a younger balance.’

And patients of Dr. Khan couldn’t be more than happy as mother-in-law to Shane Richie, 58 year old Jackie Goddard, a previous bo-tax addict expressed

My skin was plumper and more radiant and will carry on improving over the next six to nine months. The fine lines have disappeared but the best thing was the fat had filled out the hollows under my eyes and my sunken cheek areas. I’m delighted with the results. It’s a very natural look. There are no tell-tale scars.

If you’re interested in a lesser invasive form of horror that is plastic surgery, the procedure costs a hefty £7500 (roughly $10000). For $10 000, we will KEEP our face. Thank you!

Which facelift would you prefer: None, traditional facelift, blood injection or stem cell?

Didn’t Ashley Greene Already ‘Go Nude’?

Last August, pictures of a very in the buff Ashley Greene hit the internet. She had never consented for the release of the photos and was mortified. At the request of her lawyers the pictures were taken down but what is not understood is why she posed for them anyway and then comes out with this. The Dailymail reports that she stripped down again to promote calorie-free Lifewater drinks in a classy painted-on skin suit. Kinda reminds us of 20 hour FREE make-overs! In any case, it seems kind of ridiculous that she will sell herself for a campaign, artfully nude but is ashamed of nude pictures some photographer took of her with no paint on.

Does it really matter if there is paint or not? You commit to the choices you make or you do not make them.

These pictures will be featured in the 2010 Sports Illustrated Swimsuit edition in the forms of ads for SoBe.

(Awkward foot placing Ps. What do you think?)

Neanderthals Were Fond Of Make-Up Too

It seems modern people were not the only ones using make-up for decoration and ritual purposes. In Spain, scientists have uncovered evidence that firmly indicates Neanderthals may have used make-up 50,000 years ago in discovering shells they used as make-up containers to store pigment residues.

The archaeologist from Bristol University in the UK Professor, Joao Zilhao, who led the study told the BBC that “this is the first secure evidence for their use of cosmetics. The use of these complex recipes is new. It’s more than body painting.” Previous evidence of this make-up use was found in Africa where Neanderthals may have been using black sticks of the pigment manganese for body paint.

It is also speculated that the shells may have been used as jewellery but as make-up containers, yellow pigment they could have been used as foundation as well as red power mixed with a stunning black mineral can be used to indicated that Neanderthals were not as dim-witted as they have been generalized to be.

Though Professor Zilhao doubts that the popular ideology of Neanderthal ‘caveman mentality’ will dispel, he hopes “the association of these findings with Neanderthals is rock-solid and people have to draw the associations and bury this view of Neanderthals as half-wits.”

Cosmetics à la caveman, interesting! It does give us new evidence about our ancestors and how they play a part of how we live today

The Secret Partnership Between Walmart And Halle Berry

Bet you didn’t even know that Halle Berry had any perfume out at all. She is not releasing her first but in fact, her second eau de fun and no one seems to have known about it..except beloved Walmart. We also found it quite curious that there seems to be no publicity for her perfume of the name Halle by Halle Berry Pure Orchid. Maybe they were depending on the product detail style description Exotic. Mysterious. Intensely sensual OoOo or maybe the perfume tag line beauty blooms within. A seductive, sensual experience awaits you with Halle Pure Orchid, the floral, woody fragrance from Halle Berry. The perfume’s notes are Jungle Cactus Flower, Italian Lemon, Blackberry Creme Concentre, Star Anise, Masdevallia Orchid, Giant Sequoia, Patchouli Leaf

Wonder if the new aroma will be any good.

Have you heard of the illustrious perfume?

Image via Walmart.com