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Pado Seafood Restaurant, Seoul Plaza, Annandale, VA July 21, 2011

Posted by hslu in Economics, Food, Health, Restaurants, Small Business.
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Seoul Plaza used to be a vibrant strip shopping center filled with boutique stores and authentic Korean restaurants. We have been here a few times and had enjoyed our experience here which is hidden from the Korean Strip – Little River Turnpike.

Time has changed and the economy has apparently been very brutal for this place. The first sign that something is wrong is an ad by Pado (waves) Seafood Restaurant on local Chinese newspaper: $4.99 for all-you-can-eat vegetarian lunch buffet. The ad boasts a healthy meal with an unbeatable price.

Bao and I decided to check Pado out and sure enough, all you can get is vegetables, the kind of side dishes (banchan) we usually get when eating at any Korean restaurants.

The selections include spring mix salad, brown rice, mung bean sprouts, soy bean sprouts, cucumbers, radish, kimchi, seasoned spinach, stir-fried Korean  (Chapchae) noodles, sliced squash, and 荷包蛋 “he2 bao1 dan4” pan fried eggs. There is also some kind of stir fried ground pork mixed with vegetables you can sprinkle on top of your selections. For seasoning, two kinds of sauces are provided: fermented soy bean sauce and a very popular Korean hot pepper sauce called Gochujang .

The restaurant apparently caters mostly to Korean customers because there was only Korean signs on the wall.

The restaurant provides us with big aluminum bowls about 9″ in diameter and 3″ deep. The bowl is kind like the dog bowls you can buy for puppies but heck who was watching?

The restaurant was filled with Korean customers and there was a steady stream of more customers coming in while we were there.

Well, all I could eat was no more than 1/2 full of the big dog bowl of vegetables and rice for $4.99. It was okay if you like vegetarian banchans.

After we left Pado, we saw two restaurants just open their doors in recent weeks: Today’s Seafood House with $5.99 seafood lunch deal and Wara Wara Karaoke and Pub Restaurant at the end of the building with selections ranged from $5.99 to $6.99 specials. Apparently the previous owners decided to close doors and the new owner had to come out with cheap eats to fend off the $4.99 healthy eats by Pado.

It was apparent that Seoul Plaza is in trouble because there are three empty store fronts: a cafe, a computer shop and a boutique shop, all has been closed for a while.

Time is tough, economy is lousy and it really shows here.

 

Bernanke is at it again, but July 13, 2011

Posted by hslu in Economics, Energy, Global Affair, Gold, jobs, Oil, Politics, stocks.
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Will QE2.5 and QE3 generate jobs?

The answer is “NO.”

It will pop up stock market which Bernanke is intended to do. The rational behind that is people will feel richer and will spend more, hence, stimulate the sagging economy.

But the next run of printing will inevitably increase the commodity prices which will negate any wealth effect bought on by higher stock prices.

Here is the $64 million question:

Will you go out buy a car or a house if your stock portfolio is up by 15% but you food and transportation cost is up by $250 a month?

No way. Not when your neighbors are out of work since March and your wife’s job is on the line.

That’s why QE2 didn’t work and that’s why QE2.5 and QE3 will not work either.

But inflation will be worse all over the world and we will all suffer because of Bernanke’s reckless action.

Nothing but rotten eggs in US Congress July 12, 2011

Posted by hslu in Congress, Economics, Global Affair, Health Insurance, jobs, Obama, Politics, Taxes.
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A back door “raise the debt ceiling” plan was proposed by Senate Republican leader today.

http://m.cnbc.com/us_news/43729095/1

The US Congress has a lot rotten eggs who should have faced the run-away spending problem head-on with massive spending cuts in order to save the US from becoming the next Greece.

Instead they sit in their lavish office and dream up a plan only politicians’ mothers can like.

The debt problem is Obama’s problem. Obama can continue service the debt but he has to choose the programs he wants to fund and cut the ones he doesn’t like to fund. In the process, slashing the federal government by 10% just like any private company would do in the similar situation.

The US government is filled with waste and should be trimmed immediately.

Well, what is the chance this back door plan will pass the Congress?

ZERO.

It will be business as usual and the big bucket is being kicked down the road again.

As for the proposed $2 trillion spending cut in the next 10 years being tossed around these day, my advice for you is don’t bet on it because:

1. It is only $200 billion per year which amounts to about 14% of this years’ deficit.

2. Most of the cuts will in the out years which is a joke to start with. It doesn’t mean anything. Remember the spending cut for FY 2010? $60 billion became $20 billion. $20 billion was shrunk to $10 billion. Then $10 billion ended up as $450 million. Ladies and gentlemen, this was your Congress at it’s best with liberal media helping them hiding the real facts from US citizens.

3. The US government is very good at fudging the numbers. It has thousands of high paying zombies who are paid to message numbers on budgets, CPIs, PPIs and unemployment numbers. It will be the same on the so-called cuts.

Here is something you can wrap your arms around:

I say cut the federal worker by 5% a years for each of the next 5 years to start with. Cut their benefits retroactively to the previous 5 years. Let them eat their peas to borrow a phrase from Obama.

Then cut entitlement for those 30 and younger because they put Obama in the office who is responsible for the lousy economy we are in. Let them eat their peas because the have to face the consequence of their own actions.