I like poop just as much as the next dog. In fact, one of my favorite treats is my feline sister Moose's anal extractions. I know that sounds gross, so I'll call it for what it's known around the house, Kitty Snickers.

After downing a bar of the chocolatie delicasy, I'm not allowed to lick my parents. Frankly, it's not something I do often anyway. Soap residue tastes just awful.

So I read in today's paper that there's a dog who's got the enviable task of searching for whale poop! In my view, that's the equivalent of going to an all you can eat buffet.

Some guys have all the luck.

Britney Spears is on course to top the US album chart this week with her new record Circus.

The singer is on track to top the Billboard 200 next week after the LP shifted more than 220,000 units on its opening day.

Sources are expecting the album to achieve sales of 450,000 in its first week, according to Billboard.

Spears has so far topped the US album chart four times. Last year's Blackout peaked at number two.

Take That are currently beating the popstar by a significant margin in the race to top the UK album chart.

 

Source: DigitalSpy.co.uk

 

King: Hey everyone and welcome to the land of Xtreme.

Heyman: yes its going to be a great show tonight.

King: "You know Xtreme has been heating up here in TFC in the past couple of weeks and really made a name for the show and we can credit that to one person. That person is the Xtreme GM, King of the Dead. He has turned Xtreme from being down all the way to the top. In recent weeks, we have seen Shawn Michaels reek havoc on Xtreme, particularly the GM and the chairman. I don't know how the Xtreme GM feels but we all know how the chairman feels. Speaking about the owner he has some announcements to make and they are going to be made right now." McMahon 101 shows up on the titan tron and the crowd has mixed reactions as some boo him and some cheer for him.

McMahon 101: "First, I would like to say thank-you to all the fans in attendance in this sold out crowd. Thanks for coming and I hope you enjoy the show and thanks to all the fans of TFC watching/reading this show!"

Heyman: "Is he really saying that? Wow what has got into McMahon 101?"

McMahon 101: "now I haven't been myself lately. With what I have been through, match wise and traveling wise, I am just burned out. I have been in several matches and have been on all three shows at some point in TFC history. I don't know why but I just can't take it anymore. Then next week comes. I have to be on two shows in a week. Being on Smackdown was an easy one but difficult as I am banned from the show but Xtreme was even worse. I was just going to address Shawn Michaels on what he did to me two weeks ago, tell him not to do it again and then leave. But NO, that couldn't happen because HBK is stuck on his hi-jinks and is irresponsible. HBK is old enough to have grand children and is old enough to start to pick out a tombstone for his grave (may be I will get The Undertaker to help you)." The crowd goes on a loud and enormous boo as they didn't like the statement. "HBK, you should be a role model for people and should follow by the rules. You're not doing any of that right now. Shawn, since your almost leaving for good, why don't you get the cane you need and..." McMahon 101's microphone goes out. You seem him still talking but then realize the technical issues. "Am I back on? I am? Okay. Sorry for the inconvenience everyone, I don't know why it faded out. Any way..." The microphone's sound turns into a little baby talking, then into a monster-type creature and finally into a character on from an animation Television show (SpongeBob SquarePants). The crowd laughs so hard and McMahon 101 just gives up. Then all of a sudden McMahon 101's camera went out but another comes on the screen and it is HBK. The screen is then split down the middle as McMahon 101 is on one side and Shawn on the other.

Shawn: "Hey McMahon 101, or should I say SpongeBob? You know Sponge, I am sorry for what happened last week with the fireworks and all. You can easily see my face as I didn't know what I was doing. Let's take a look." The titan tron shows the video from last week and then cuts back to both stars.

Shawn: "See McMahon 101, my face was completely shocked. I am deeply sorry for the agony you went through but you have to say that was funny."

McMahon 101: "FUNNY? You call that funny? I could have got killed. Last week I said if you interrupt or hurt me again there will be series actions that will be taken place. Well you know what...." His mic then turns his voice into an alien type creature from outer space.

Shawn: "haha, wow. I love this thing. 101 do you know where I am at? I am in the control room, or should I say the control truck. Anyway, I am here with all the camera angles and microphone work and I have to say I need to have a job here. This is great. Did I hear you say that you will have some actions that will be taken place? Well 101, that can't happen and let me tell you why. You just said if I hurt you or interrupt you; well that is not what you said last week. You said if I lay a hand or touch you again THEN there will be actions I will have to pay. Last week when the fireworks went off, I wasn't touching you and right now, I AM NOT TOUCHING YOU, I...AM....NOT....TOUCHING....YOU!!!!! So 101, you can't do anything about it. Sorry but I think you ran out of time"

McMahon 101: "I am not done here HBK. SHAWN...don't you dare! If you do....you better not....Shawn, Shawn, Shawn!!!!!" You then see Michaels hand hit a button and it turned off the boss' camera.

Shawn: "aw, 101 have left us. That's too bad. Oh well, he was boring anyway!"

King: "I can't believe what we just saw from Shawn Michaels. I don't know how McMahon 101 will react but I can tell you it won't be good but I can tell you Shawn is reeking havoc on Xtreme for sure!"

King of the Dead comes out to the ring.

King of the Dead: Shawn Get out here NOW!

HBK comes out after a few seconds of waiting.

HBK: WHAT!

King of the Dead: Show some respect and tonight those tag team Belts are striped off The Midnight Rockers for disrespect to TFC's Chairman. So there will have to be a match at the PPV in three weeks Xtreme's Worlds End.

All of a sudden Triple H comes out

HHH: Hey King of the Dead Congrats for being GM of Xtreme and I got two words for you. Crowd goes wild and chant S*CK IT! HHH: No No not that its GAME OVER.

HHH Pedigrees King of the Dead and then NWO comes out with Dark Ministry.

Taker: HHH you seem to be forming DX again. We will not stand for fun and games with yous two.

HHH: Then goodbye.

And HBK super kicks UnderTaker and Kane Comes out.

Kane: hello I am joining the Dark Ministry.

Kane choke slams HBK

Jeff Hardy Comes out and says Extreme Championship in a mic and goes in the ring and does a twist of fate on Kane and runs off. King of the Dead gets back up and picks up the microphone.

To night we will have an Extreme rules triple threat tag team match as a main event. In that match it will be D-Generation X vs. The Brothers Of Destruction vs. The Hardy Boyz.

Skitzo comes out with Ecie

Skitzo: Well I finally found a decent tag team I can join and there DX. I want to end your cocky attitude and I will do it because you don't respect me a bit and that's why I want to beat you to a pulp.

Ecie: if you two want each other why don't you fight each other.

King of the Dead: There will be a tri branded match at TFC and it will be for all three world championships. Well lets get on with the show.

(Dark Ministry) Randy Orton vs. Kevin Nash (NWO)

Randy grabs the Mic. Orton: Come on please why haven't I ever had challenge around here Kevin Nash please he's old enough to be my grand father. I want some one at my own caliber like John Cena or Batista but no they had to give me the oldest person on the block. King of the Dead comes out. King of the Dead: So Randy lets see you think hes to old for you and you want challenge. Orton: Your not wrong you are smart. King of the Dead: Well then lets fix that. Since two half's make a hole you will have two old guys. This has just become a handicap match so it will be Randy Orton vs. Kevin Nash and RIC FLAIR. Hope that's better Randy. Randy Orton looks not happy how it turned out.

Randy Orton vs. Kevin Nash and Ric Flair in a handicap match

Randy slaps Flair in the face and spites in it. Nash hit Orton from behind and knocks him down. Orton gets up and then gets and runs away but from behind Edge spears Kevin Nash and Orton hits flair with a chair from behind. Orton: Rated RKO Returns today and I'm leaving Dark Ministry Because they are holding me back. I wont stand for it so now it's the Return of Rated RKO. King of the Dead comes out. King of the Dead: well that just proved something that Randy your all talk no walk. So I will tell you what now your added to the Main Event of Xtreme.

 

1^st Interview

King of the Dead: Well I'm here to talk to Jeff Hardy. Hey Jeff Earlier today we heard you say Extreme Rules and something about Extreme Championship. Does that mean you are cashing in that chance for the hardcore championship? Jeff Hardy: Yes it does but not only that there's something else. I was thinking if we could put the 24/7 Championship on the line since there both the same really. King of the Dead: Ok you make a point I will do that If you can prove to me before Xtreme's Worlds End that you deserve it. Jeff Hardy: I will.

 

Steve Blackman vs. Raven in a Singles match

Blackman starts the match with a huge right hand punch but Raven reverses it. Raven does a few punches to Blackman. Blackman reverses a punch and climbs out of the ring and gets a steel chair. Raven comes out and gets hit across the head. Ref calls DQ and Jeff Hardy Runs out to rescue Raven holding a kendo stick. Hardy hits Blackman with the Kendo stick and then Jeff runs off and Matt Hardy runs out with a steel Chair in hand. He hits Blackman right in the back. THE WINNER BY DQ RAVEN HUH! DX comes out and smashes into The Hardy Boyz but then the Brothers Of Destruction come out. Kane and The UnderTaker do a double Choke slam on DX.

King: well that makes the Main Event interesting.

 

Batista vs. CM Punk

Batista starts this match with a cloths line and Punk doesn't know where he is. Batista picks punk up and Irish wipes him to the turn buckle and Batista charges to do a spear but Punk reverses it. Punk waits for Batista to turn around and does a beautiful heel kick. And then goes to the top rope and bounces off and Batista grabs him in midair he puts him in the Batista Bomb Position and connects with The Batista Bomb 1...2...3 THE WINNER OF THE MATCH BY PINFALL BATISTA. Batista: Hold up today we come to invade Xtreme again for me and I have noticed Dark Ministry is Breaking up very slowly but surely. So Ecie better do something soon or you won't have a very good stable. John Cena comes out. Cena: What's up Batista? You seem to be giving advice that wont do ****. So stop the **** and go and refresh yourself but since I'm here. Cena does an FU on Batista but then King of the Dead comes out. King of the Dead: STOP IT! NOW! It seems you both don't like each other so you will be in a match at Xtreme's Worlds End and it will the 1^st 1# Contender for the Legends Championship. But just then Skitzo comes from behind and knocks King of the Dead out cold and then Skitzo grabs the mic. Skitzo: What's wrong King of the Dead? You look hurt sorry my mistake. But then NWO comes out and chases Skitzo out of the Arena.

 

Jimmy Wang Yang vs. Shannon Moore vs. R Truth in a Tri Branded Triple Treat Match

Truth starts this match by slapping Moore in the face. Moore gets angry and punches Yang in the Face. Yang then climbs out of the ring and grabs brass knuckles. Yang puts them in his pockets and climbs back in the ring. Moore does a drop kick on Truth and then Yang does DDT on Moore. Yang goes for the cover 1...2... kick out. Then Yang gets brass knuckles out of his pocket and punches Moore but Moore reverses it and takes the Brass knuckles and punches into Yang. Shannon walks away and Truth goes for the pin 1...2...3 THE WINNER OF THE MATCH BY PINFALL R TRUTH

 

Rene Dupree comes out and grabs a mic. Dupree: I am sick of looking at this American dump called Xtreme there is no challenge at all here. So I want a match now with anyone from the American Dump Xtreme. John Cena comes down to the ring with a mic. Cena: Ok then we'll see who's better the Frenchman or the American.

 

Rene Dupree vs. John Cena

Dupree taunts Cena but Cena doesn't care. Cena then taunts Dupree and the crowd says U Cant C Me and then The Crowd chant U S A, U S A, U S A. Dupree goes for the DDT but gets into the FU position and connects with the FU. Then Cena rolls Dupree on his stomach and does the STFU. Dupree taps out after a minute of being in the STFU. THE WINNER OF THE MATCH BY SUBMISSION JOHN CENA

 

DX vs. BOD vs. Rated RKO vs. The Hardy Boyz in a Extreme Rules Fatal 4 way Tag Team match

Jeff and HHH starts the match. Jeff punches HHH but HHH reverses one of the punches and goes for the Pedigree but Jeff reverses it and Jeff Tags Edge in. HHH has a weird grin on his face. HHH smacks Edge across the back and then Tags The UnderTaker. Taker does a few jabs to the head and does snack eyes. Edge gets up and tags Orton he does the RKO on Taker from no where and runs and tags HBK. HBK Covers Taker 1...2...3 THE WINNER OF THE MATCH BY PINFALL SHAWN MICHAELS AND TRIPLE H D-GENERATION X

 

King of the Dead comes out with a mic. King of the Dead: Shawn you have been nothing but trouble for me since I got here but now I see Triple H joining you and your fun but not only that but Skitzo joined as well. So I'll tell you what if you can find 5 people to join DX then at Worlds End we will have a 15 man tag team match. I don't think its ever happened before but it will be great. And in that 15 man tag will be DX vs. NWO vs. Dark Ministry. But before I do anything else I have to know if you want to announce it on Xtreme, SmackDown or War are you joining NWO. Because its your choice do you want to join us and if you do who cares about the thing where your banned SmackDown we will go in there and no one will be able to stop us. So your choice but here's the Matches that's happening so far at Worlds End.

 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Xtreme's Worlds End Card

 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Tri Branded Triple Treat match For all three World Championships.

 

Jeff Hardy vs. Raven in a Extreme Rules match for the Hardcore Championship

 

Batista vs. John Cena in a singles match for the 1^st 1# Contenders match for The Legends Championship

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 

King of the Dead: that's it so far but there's heaps of matches coming up.

Ok Canadian fans and thoughts in the Toronto area.

Now there has been a suggestion on the WWE site, the commercials and what not as to the fans to bring non parishable food items to the autograph session on December 21. I think it's a great idea, but here's how to make it better.

A wristband policy is in effect for this. 

Why not change the rules a little. You can only get a wrist band if you DONATE to the food drive?

I mean how hard could it be for some of us to go out and get a can of soup? Or a jar of penut butter? I think that would be fair, food for an autograph.

Imagine how much dontations they could get out of this? Especially for the holidays! So many families could be helped. 

 

As well for the supershow, think of this. The air Canada Centre holds over 20,000 people... imagine if everyone brought one food item? How many families do you think that will feed? Imagine if they brought 2!

40,000 cans and other food items for people in need!

I want to think of it this way, if I were in the shoes of people in need. I would certainly wish someone would help.

This is hitting close to home, for my dad mentioned a woman outside of our local grocery store begging people to help her. She needed food for her children.

Just today, he just dropped clothing off today at a donation bin, and she was there sifting through the bags he brought.

Imagine if that was you...

So, I think it would be well worth it for us in the WWE Universe to donate a can of food in order to get a wrist band for an autograph. Sounds reasonable, doesn't it?

While so many argue about the inquistion of 500 years ago, or fear the Spanish armada, or argue about the atheist Hitler, and generally pretend fear at Catholicism...the following is taking place in your backyard today:

"Two Moroccans arrested in Italy yesterday wanted to blow up the Milan Cathedral on Christmas.  They hoped an attack during the busy holiday would cost dozens of lives.  This according to tapped phone calls, reports La Repubblica.

The two belonged to an Islamic terror cell which had been followed by the Italian police already for months.  "The plot was discovered yet before the suspects could get explosives," says the Italian minister of Internal Affairs, Roberto Maroni, in response.

Rachid Ilhami (31) and Abdelkader Ghafir (43) were arrested in Giussano, a city 25km away from Milan.  The detectives gathered from tapped phone calls and confiscated computer files that the two also prepared attacks on a supermarket and a police bureau.  They are arrested on suspicion of terrorism and eventual cooperation with al-Qaeda.

Ilhami had been living since he was ten in Italy.  He is married and has two children.  He worked as a blacksmith and in his free time worked in a center for peace activities, in the area of prime minister Silvio Berlusconi's villa, according to Corriere della Sera."

The extensor retinaculum (doral carpal ligament)is located distally and is thin. It attatches medially to the ulnar styloid process, triquetrium, and pisaform. Laterally it attatches to the lateral margin of the radius. Along it's course it forms 6 fibrosseous tunnels for passage of the synovial sheaths containing the extensor tendons.

Mel’s recovering from her break-up with Jimmy and has a date with the gorgeous Arran…

Mel

It had been an exhausting day, and I wasn’t feeling up to a steamy or even a not-so-steamy encounter with Arran straight after work. Besides which, I didn’t think he was ready to see me in my supermarket uniform of oh-so-flattering blouse and cut-for-someone-who’s-a-different-shape trousers. They really are like garments from a different planet. Mind you, they do have their uses. The blouse, for example, comes out of the washer almost completely dry and the trousers spring back into knife-sharp creases (yes – soooo trendy) with just a shake. Actually, if you did try to iron them they would certainly melt. I think they are pure plastic, though that’s not what it says on the label.

We arranged to meet in the square at half seven. Mum and dad were both out again when I got home. I looked in the freezer for some ice cream, but there wasn’t any Ben and Jerry’s phish food, which is my absolute favourite, so I told myself that was just as well because of muffin tops etc and had a long and luxurious soak in the bath, so long and luxurious that I had hardly any time to get ready for my date with Arran and definitely no time to eat. I told myself again that this was good for muffin top eradication.

Arran is the sort of date who makes other girls wish they were you when they see you sitting in the pub with him having a drink and a laugh. That’s what they see. What they can’t tell just by looking is that even Zac Efron would be a lousy date if he talked about himself non-stop for the entire evening.

Perhaps it was a tiny bit my fault. I didn’t want to say too much about myself in case I ended up boring on about Jimmy or letting slip something about the problems with The Economy at home, so I didn’t have as much to say as usual. Also, after a couple of vodka tonics I had a bit of a headache and actually started to wish I was back home in bed – and I mean on my own, asleep. After that I stuck to just tonics, but he was drinking quite a lot. Perhaps that made him more chatty.

I don’t know. At first it was interesting to hear about his plans to travel the world and conquer it. He’s just done his ASs and he’s going to apply to university to do sports science and take a gap year after his A2s. He’s going to work until Christmas so he’ll have enough money to fly to Thailand and Australia and maybe come home by way of Hawaii and the USA. Apparently. My eyes were glazing over a bit by then. He had a lot to say about ‘the beach,’ but whether it was a particular beach he knew about or one he was hoping to find I wasn’t sure. As well as the beach he had a lot to say about surfing and scuba diving and doing an instructor’s course and getting work as a diving teacher…

At about this point my mate Andi phoned me. Quite apart from being a welcome diversion from Arran talking about travels he hadn’t been on yet, this was a surprise because I thought she was in Greece and it costs a fortune to call from abroad.

‘Hey! Are you back?’ I asked. I realised I was missing her.

She said something, but I could barely hear because of the noise in the pub. I had to ask her to say it again.

‘I’m calling from Greece,’ she shouted. ‘I heard about Jimmy! Are you all right?’

Andi really is my BFF. At the thought of it tears welled up yet again – what is happening to me? I didn’t want Arran to know I was nearly crying so I made out I still couldn’t hear and stood up, and Andi yelled ‘Are you all right?’ so loud it made me jump.

I whispered something to Arran about this being important, and rushed off to find somewhere a bit quieter. I ended up at the back door, where there was a bit of a garden and the smokers were hanging out. I went outside and found a quiet spot against a wall.

Andi was asking me what had happened with Jimmy and how I was taking it. I opened my mouth to tell her it was hell and I hated it, when I recognised the shoulders hunched over a table just in front of me, and the skinny slutty blonde girl next to them. I’d recognise Jimmy from any angle, anywhere. I probably will for the rest of my life.

‘I’m fine,’ I said loudly. ‘Jimmy’s ancient history. I’m well rid of him, and I’m having a great time. I’m in the Royal Oak at the moment with this gorgeous boy called Arran.’
 
Jimmy turned towards me the moment he heard my voice. I carefully didn’t look at him and carried on talking to Andi. ‘He’s really hot. You have to meet him. And I’ve made a great new friend at work called Kira, you’re going to love her. Andi, you’re missing everything. Things couldn’t be better. You have to hurry back.’

Jimmy was looking right at me, despite the blonde girl’s hand on his sleeve.

I barely heard what Andi said in reply – I thought she said she was on a beach with two boys, which didn’t sound like Andi. But I wasn’t really listening. Jimmy was grinning at me.

I gave him a stony stare and swung round and back into the pub.

I was shaking like my hamster used to shake when you lifted it out of its cage, as though it was terrified you were going to kill it. Somehow I’d cut Andi’s call off, but I hardly cared. I’d explain to her another time.

I stumbled back to Arran’s table and sat down. ‘Bad news?’ he asked.

I said ‘no’ and then ‘yes’ and then ‘sort of.’ He laughed and said ‘make your mind up.’

Over his shoulder I saw Jimmy and the boyfriend thief come into the bar through the door I’d just come through myself.

Arran’s hand was resting on the table. I put mine on top of it. He looked a little surprised, but he twisted his hand round so we were holding hands properly.

Jimmy was coming this way.

I snuggled up closer to Arran.

‘Tell me more,’ I breathed, linking my fingers in his and gazing deep into his eyes. He looked even more surprised, but only for a moment. ‘About all those things you’ve got planned for your trip. It’s fantastic.’

Jimmy and his slut were walking right past us. She had a tight grip on his arm and her mouth was sealed shut like a ziplock bag.

I lifted my hand so Arran’s lifted too, and twined my fingers with Arran’s so Jimmy couldn't possibly miss it.

‘Yes, well…I’ve always wanted to travel,’ said Arran.

‘Oh, so have I,’ I said huskily, pouting shamelessly at him. ‘I’ve only ever been to Spain. Well, and Florida a while ago. I’d never thought of going to Thailand and…all those other places.’

‘Well, there’s nothing to stop you,’ said Arran. ‘Want another drink?’

Jimmy had gone. I felt shaky all over again.

‘Why not?’ I said.

First game of the night!!! Should be interesting as I am playing for a new team. I only met and know 2 of the 8 players. So, I am kind of nervous and kind of curious on how this is going to turnout.

We play at Western Sports Mall and in past years this league is pretty competitive which is always good.

Anyways, I'll get back to you all about how it goes. Like you care! haha. 

14 days till the big 2-5 bday party too!

hi bri and thank you for joining

D-Generation X is probably the greatest tag team of all time. Made up of Triple H and Shawn Micheals, they are the best tag team. They were known for being hilarious. But don't prove me wrong, they were amazing fighters. A classic moment is when they go to WCW (World Championship Wrestling) and shout outside of the arena on a truck and shout "WCW Sucks!" That diffinitlay made the Monday Night War kinda change. The Monday Night War was a battle between WCW and the WWF (World Wrestling Federation) Another fact is WWF is now the WWE (World Wrestling Entertainment) and viewers would decide whether to watch Monday Night Raw or Monday Night Nitro. Dx (Dx is D-Generation X for short) also had some infamous matches. Some of them are Shane and Vince McMahon and The Big Show Vs. Dx inside Hell in a Cell (Unforgiven 2006) Or Dx Vs. Rated RKO (Edge and Randy Orton) at Armageddon 2006. Dx also had a spectacular match not that long ago as they returned to face of against The Miz and John Morrison. (800th Episode Spectacular Of Raw) They have had some one night only Dx reunions. 

Thank you for reading about the best tag team in history of the WWE. 

Click on this link for some extremely funny Dx moments that are from youtube. If the link does not work copy and paste this URL to your URL box.DX Funny http://www.youtube.com/watch?v=AOviETV1Hh8 Here is another really funny Dx moment. You have to watch the whole thingShawn Michaels on Steroids?

On Day 2 of Tribute to the Troops, Chris Jericho spoke with Joey Styles about the trip so far:

JOEY: So Chris Jericho, you spent most of the day at Forward Operating Bases here in Baghdad. You’re not known for your humility at all, but does someone like you find is somewhat humbling that these people who risk their lives are just so in awe of you and so thrilled to meet you and the other WWE Superstars?

JERICHO:  What I find humbling more than anything is the fact that these guys come over here for a year or 18 months at a time and they’re so excited to see us and thanking us for coming over, saying “Oh, you’re so tired, it must have been such a long trip.” 

We’re here for three days, it’s the least we can do. So that’s very humbling to see guys who really don’t watch wrestling that are just happy to see anyone come visit them.

That just goes to show how much it means to them to see us, and how much it means for us to be here. It really is reciprocal the fact that they can’t believe we’re here and I can’t believe they care that much that we made a sacrifice to come over three days when they’re here 18 months.

Editor's Note: The preceeding was relayed from e-mail message reports from the WWE's Tribute to the Troops mission. Names of the bases visited have been omitted at the request of the U.S. Army, so as not to divulge WWE's location in Iraq.

For complete coverage of Tribute to the Troops, visit the Tribute section on WWE.com. Also, Leave your holiday messages for the troops in the Forums on WWE Universe.

WWE's Tribute to the Troops special airs Saturday, Dec. 20, at 9 p.m. ET on NBC.

thanks for joing beast

por Pedro Schwartz.-

Una nueva doctrina se ha adueñado de los medios de comunicación y de las cámaras parlamentarias: al parecer, el pensamiento capitalista que Adam Smith ayudó a crear hace dos siglos ha sido arrumbado al basurero de la historia por la presente crisis financiera y Gordon Brown, el primer ministro británico, ha sustituido a Smith en el panteón de los grandes pensadores. Para Brown y otros refundadores del capitalismo, el apalancamiento y la innovación financiera son de mala nota. Pues bien, aún tienen mucho que decir Adam Smith y los otros grandes economistas de la tradición liberal sobre la contribución de la actividad financiera a la riqueza de las naciones.

Como bien dijo Adam Smith en su gran tratado de economía de 1776, "el consumo es el único fin y propósito de la producción". A pesar de su sencillez, esta doctrina no es fácil entender, especialmente en estos momentos de crisis en que toda nuestra atención está fija en la parte instrumental de la actividad económica y dentro de ella, en la más remota y abstracta, cual es la finanza. Cómo organizar y encauzar la actividad financiera capitalista para fomento de nuestro bienestar, esa es la gran cuestión del momento.

La idea de consumo es mucho más amplia de lo que suele entenderse. Incluye, no sólo la satisfacción de nuestras necesidades corporales y mentales, sino todo aquello que forma parte de lo que valoramos, incluso lo que no toca directamente a nuestra persona. Por ejemplo, el bienestar de los hijos formará parte del "consumo" de los padres incluso cuando ya no sean de este mundo; y lo mismo cabe decir del progreso general de los conocimientos para un científico.

De esto se deduce que el consumo no es algo momentáneo sino que se extiende en el tiempo. Los individuos intentamos organizar nuestra producción y distribuir el consumo a lo largo de toda la vida, o más allá incluyendo una o dos generaciones más. Eso implica que los individuos tendremos diferentes necesidades de financiación en cada momento de la vida. Durante los años de niñez, crecimiento y formación, las personas consumimos e invertimos mucho más de lo que producimos: para ello, habremos de utilizar los ahorros de personas que se encuentren en otro momento de la vida en que consumen menos de lo que producen y que acumulan ahorros para un futuro más lejano. Típicamente, una familia joven se endeuda a cambio de prometer la devolución con réditos en momentos de mayores disponibilidades. Las personas de edad más madura estarán en disponibilidad de prestar sus ahorros, y así acabar la vida con medios suficientes para mantenerse en el retiro y dejar tras de sí justo lo que quieran pasar a sus descendientes. Las meras diferencias de situación en la vida, pues, inclinan de por sí a las distintas personas hacia diferentes patrones de consumo y ahorro y dan ocasión a intercambios financieros convenientes para todas la partes.

Otra diferencia entre los individuos en materia de consumo es su aversión o inclinación al riesgo. Las personas adversas al riesgo tenderán a ahorrar más por término medio en la vida y las inclinadas al riesgo a endeudarse más. Me refiero al riesgo puro que estudió Frank Knight en su tesis doctoral de 1921, no a la incertidumbre normal de los asuntos humanos, para cubrirse de la cual es posible contratar un seguro.

En toda sociedad progresiva hay empresarios dispuestos a buscar réditos con proyectos e ideas de mayor varianza en los resultados. No todos los amantes del riesgo son productivos: un ladrón de viviendas corre riesgos detrayendo recursos de otros para poder consumir sin demora. Sí que es productivo el empresario que reduce su consumo, aplica el capital que ha acumulado y se endeuda, para invertir con la esperanza de obtener réditos en proyectos cuya productividad otros no hayan sabido ver.

Ésta es otra oportunidad para intercambios financieros, una oportunidad que en este caso fomenta la aparición de un tercer actor, el intermediario financiero. Como los adversos al riesgo prefieren mucha liquidez en sus colocaciones, mientras los de ánimo empresarial se embarcan en inversiones de largo plazo y poco líquidas, hay un papel para las instituciones capaces de transformar ahorros liquidables a corto plazo en inversiones más fijas a largo.

En este punto interviene el apalancamiento como instrumento que magnifica la productividad de las apuestas empresariales. Apalanca el banco o intermediario financiero que, no sólo corre el riesgo al transformar ahorros a corto plazo en inversiones a largo, sino al multiplicar los ahorros originarios concediendo crédito por un valor mucho mayor que el depósito inicial. Apalanca quien contrata a futuro, o toma unas opciones, o realiza unos swaps de divisas o tipo de interés, o vende acciones a la baja sin cobertura, con riesgo de tener que aumentar el colateral de garantía si las expectativas se vuelven en contra. 

La cuestión es siempre la misma: lo mantenido en caja para una posible necesidad de liquidación es siempre mucho menos que las obligaciones incurridas: eso vale para los depósitos bancarios igual que para las ventas de materias primas o de títulos sin tener más que una cobertura parcial.

La tentación en momentos de crisis financiera del sistema en su conjunto es prohibir o limitar drásticamente todos esos apalancamientos. Con medidas mal consideradas de este tipo se perdería la productividad nacida de apuestas con éxito y con muchos más fondos que los originales, por proyectos que puedan resultar muy productivos. No se trata pues de acabar con el capitalismo salvaje o el neoliberalismo, sino de alcanzar ese delicado punto de regulación que evite accidentes catastróficos sin perder las ventajas de apalancar o de multiplicar riesgos empresariales productivos. O es que queremos que nuestras economías dejen de crecer?

sabe que dicen que hay tres cosas super dificiles de lograr en esta vida ...las cuales son:

1:GUARDAR UN SECRETO

2:PERDONAR UNA OFENSA

3:APROVECHAR EL TIEMPO.

Yo pienso que devemos no hablar lo que no nos corresponde,

perdonar para poder vivir mas tranquilo y feliz

y vivir como si hoy fuera el ultimo dia...y ser hoy mejor que ayer y mañana mejor

que hoy...tu que opinas?                             lulu.

To let you all know,I have made tons of Fantasy Wrestling forums.Every single one has Failed.I have been making these threads to add something to my history in WWE Universe.As of now,the only thing on my record is that I am a Fan Nation Original.To everyone out there on WWE Universe,If you happen to pass by Fantasy Wrestling.Click it and look for a thread that has my name under it.And please join it.I would like to get a thread that has more than a 1,000 posts.Not like OWWE.But close.Again,Please join my thread if you see one of them. Thank you,

~ HBKRocks ~