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Sports
High School Football
11-07-09 - Hoosac Valley beats Drury.
More photo's on Monday |
 | Thursday, Nov. 06
Boys' Soccer: State Vocational Championship Game
McCann Tech 3, Keefe Tech 2
Girls' Soccer: State Vocational Championship Game
Blackstone Valley 8, McCann Tech 0 |
Election
Trying to remember who won what and why? All the information is right here. |
Daily Digest
This is Jake
He's been lost in Pittsfield for weeks but frequently sited. He was last seen heading toward the fire station on Peck's Road. He's tired, dirty and needs seizure medication. He's chipped. If you see him, call Julie at 413-537-5616, the vet 24/7 at 413-499-2820 or animal control at 413-448-9700. |
What's Playing
The popular anime character "Astro Boy" searches for acceptance on the big screen.
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ObituariesSales FliersBazaarsNov. 7:
VNA & Hospice, Community Room, North Adams
North Adams Elks
10-4; Nov. 8, 9-2
Crafters, Chinese auction, bake sale
For vendor information, Melanie at 413-743-5562.
Nov. 14
Berkshire Community Church, Richmond
10-4; Crafters, bake sale. Contact Evelyn Goggia at 413-445-5747
Lanesborough Elementary School annual Fall Craft Fair from 10 to 4. Free admission, huge variety of arts and crafts, raffles, food and more. Proceeds go to sixth-grade trip to Cape Cod.
Vendors can contact Deb at 413-738-5349 or debhutton@aol.com or Lori at 413-499-0065 or lorittod@yahoo.com to secure a spot.
Dec. 12-13
North Adams Country Club, crafts 9-4; food from That's a Wrap from 11-2. Contact Sheryl Morehouse at 413-822-3329.
Planning a bazaar this season? Submit information to info@iberkshires.com to have it listed here. |
Related Stories |
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Independent Investor: 21st-Century CapitalismBy Bill Schmick
iBerkshires Columnist
07:33PM / Thursday, October 23, 2008
 | | Bill Schmick |
Our concept of free markets may change dramatically as the result of this crisis. I believe that in the years ahead, the majority of Americans will no longer espouse the laissez-faire attitudes of the last century.
Instead, markets will be regulated and to some extent controlled by the government. Whether that will turn out to be a good or bad development remains to be seen.
It is estimated that the world's total exposure to credit swaps and other toxic derivatives is over $63 trillion. Although I believe that is too conservative a number, it still amounts to more than the entire gross domestic product of the entire world's economies. Although free-market actions got us into this mess, this debt problem is now far too large for capitalism alone to dig us out of it. Enter governments around the world.
The captains of industry are relinquishing the pilot's seats out of necessity. They have been replaced by hands-on, elbow-deep, active regulators, appointed officials and soon-to-be-elected politicians. Make no mistake: now that Washington has the taste of financial power it will be reluctant to give it back if history is any guide.
This week, Congress began the task of overhauling financial regulations, warning that the process will take time, thought and planning. However, no sooner did the gavel fall before opposing ideologies and partisan finger pointing erupted with dire warnings of socialism in America. Theatrics aside, I suspect the real work won't begin until after the election votes are counted. No matter which party ends up with a majority the demands from outraged voters to rein in the financial system have been heard loud and clear. Expect big changes that will alter our financial system from top to bottom.
Consider Alan Greenspan, the former Federal Reserve chairman and financial adviser to Barak Obama, who told members of the House Committee of Government Oversight and Reform today that he had made a mistake in trusting that free markets could and would regulate themselves without the need of government intervention.
"I made a mistake in presuming that the self-interests of organizations, specifically banks and others were such that they were best capable of protecting their own shareholders and their equity in the firms," admitted the 81-year-old pillar of capitalism.
Given his 18-year stint as head of the Fed, Greenspan's words carry far more weight around the world then one would imagine. He used the words "shocked disbelief" in referring to the failure of banks to regulate them. Since Greenspan has been an avid supporter and promoter of deregulation throughout his 40-year professional career, his admission will no doubt influence the thinking of many within and outside the financial community. I expect others will admit (or be forced to admit) the same thing.
The crisis is not over and will require the government's full attention for months if not years to come. So expect more, not less, involvement as events unfold. One of the jokes going around the markets is that Wall Street has moved from Manhattan to Washington, D.C. I think there may be far more truth in that statement then many are willing to believe.
Bill Schmick is a licensed investment adviser representative and portfolio strategist as well as a registered financial planner with Berkshire-based Dion Money Management, which manages more than $550 million for middle-class Americans from coast to coast. Direct your inquires to Bill at 1-877-850-7942, Ext. 146 (toll-free), or at wschmick@dionmm.com. You can also visit www.afewdollarsmore.com for more of Bill's insight. |
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