Hat tip to Mish at GlobalEconomicAnalysis.
Austrian Economics explains a lot about what’s happening in today’s market but it’s usually interpreted in a vacuum. For instance, if you interpret Austrian theory without considering accelerating change it’s pretty easy to assume inflation will run rampant. Just look at money supply for instance, gold should be taking off right now. Now if you assume technology is deflationary (see PC prices) AND accelerating then a linear increase in the money supply will be offset, and eventually dwarfed, by advances in technology.
So what happens if you mate accelerating change with an exuberant printing press? A booming economy, low inflation, asset bubbles(housing) followed by rapid, massive Japanese style deflation when the cycle finally cracks. In other words technology makes the upside of the inflation curve flat and the downside nearly vertical. From Minyanville:
the 3-Month Rate of Core Finished Goods PPI has already fallen back into outright deflationary territory as defined in the chart below (courtesy BLS). The latest plunge into a 3-month rate of deflation is eerily reminiscent of the 2000-2001 period, which provided the catalyst for the infamous Bernanke Monetary Helicopter speech.
You didn’t need to be of the Austrian School to know the housing bubble would pop, though it helped. But if I’m right then a knowledge of software and IT is beneficial in understanding what happens next. So far my little theory has predicted what has transpired over the last few years but then again, someone has to win the lottery. If the market takes off as some predict then my little theory will be shot full of holes. The next year will be interesting even if you’re not a hack economist like me.
“The remaining markets have experienced rapid appreciation deceleration, according to the second quarter Home Price Index by the Office of Federal Housing Enterprise Oversight.”
That is an honest to god real quote you can find in a report here.
Edit: Barry Ritholtz, seeing as how you’re sounding the alarm about inflation and I know you read blogs that link to yours I’m hoping you’ll see this in case you have any thoughts as to why I might be wrong so I might learn something.
The economic grilled cheese sandwich was left unattended too long, so they thought, and the acrid stench of fiscal mismanagement(and burnt cheese) was getting stronger. Everybody was looking for the chef when the malfunctioning stove was to blame.
The left is going to get a shot at piloting the unpilotable beast for a while. When they fail it should be interesting to see if America swings right again or if they make the assumption that there simply was not enough wealth redistribution, in which case Frank Castro takes the noodly helm.
The stove is productivity. A thing once associated with rising wages. The problem is that accelerating productivity ultimately leads to job losses as software, etc. improves to the point where we simply get in the way. The stove isn’t really malfunctioning, it’s only causing problems because of two things. A:> It’s accelerating and we don’t like change and B:> Standard of living takes a back seat to pride.
The Fed – Will probably be looked back on as an impotent institution that simply delayed the inevitable.
Pride – Why Unions worked for a while. If the country swings far left this will be the reason. People prefer their welfare in the form of a paycheck. If this doesn’t change things could get ugly.
Is the world fair? Nope.
Do we try to remedy that? Yes.
Does it work? No.
Interesting question to ponder: Is human nature compatible with technology that makes the 9-5 unnecessary?
Stuff on tap: Estonia, China, Peak Oil?
This is a rough outline I’m working on, check back for updates. It crashed on me, grabbed a screenshot of it.
Steps involved in making it work:
Install the Unbox video player
After install It takes your account login to see if you’ve bought or rented any movies.
A full length movie is only 1.6GBytes for 85 minutes which is far less than DVDs. They’re probably using some custom form of MPEG 4. Aha, from the EULA (below) from the software install.
“MICROSOFT WINDOWS MEDIA VIDEO 9 ADVANCED PROFILE CODEC”
This is going to be bad if cracked because you’ll be able to move around most movies on a 2GB memory stick, not to mention burn them onto a DVD
It is maxing out my internet connection, at least they didn’t skimp on bandwidth.
It crashed when I chose look for devices. Still appears to be downloading, sloppy
Ended with the process manager, it was the only way. It does start finishing the download after restart though which is nice.
Volume seems low. Speaker volume maxed out, windows sound settings maxed, media player at 50% and still not very loud.
My monitor is 16×9, the video is 4×3 aspect ratio, black bars on the side. Fortunately that’s how the movie was filmed and not a shortcoming of UnBoxed.
Video quality is DVD quality
Quantity of DVDs online?
Interesting movie I downloaded, Flight from Death, like Faces of Death if directed by philosophers.
If you’re used to tons of options on high end DVD players you’ll miss them. Just play pause, full screen and ff/rewind. Probably what most people will need but advanced options hidden somwhere would be nice.
Included below is the EULA for the installer. Rarely read, often full of important goodies. This should be online somewhere for legal begals to pick over.
1. THE SERVICE
The Amazon Unbox Video Download Service (the “Service”) offers downloads of digitized versions of movies, television shows, sporting events, news events, and other video content (collectively, “Digital Content”) and other services under certain terms and conditions as set forth in this Agreement.
2. AUTHORIZED DEVICES
As used in this Agreement, “Authorized Device” means any personal computer or portable media player meeting minimum system requirements that Amazon may establish from time to time or other device that Amazon may authorize from time to time. You may only view Digital Content on Authorized Devices.
3. UNBOX VIDEO PLAYER
a. Software Upgrades. The Software automatically checks for upgrades, but the Software will not automatically upgrade without your consent, except as provided herein. If you do not consent to an upgrade that we make subject to your consent, the Digital Content may no longer be viewed on your Authorized Device. You must keep the Software on your Authorized Device current in order to continue to use the Service. We may automatically upgrade the Software when we believe such upgrade is appropriate to comply with law, enforce this Agreement, or protect the rights, safety or property of Amazon, our content providers, users, or others.
b. Information Provided. Amazon respects your privacy, and the Software will not access computer files or other information on your computer that are not used by or otherwise related to the Service. Among other things, the Software will provide Amazon with information related to the Digital Content on your Authorized Device and your use of it and information regarding your Authorized Device and its interaction with the Service. This information will enable Amazon to manage rights associated with the Digital Content, allow Amazon to help you use the Service more effectively and otherwise help Amazon to enhance and improve the Service. For example, the Software may provide Amazon with information about the Digital Content from the Service on your Authorized Device, whether it has been deleted and whether it has been viewed. The Software may also provide Amazon with information about your Authorized Device’s operating system, software, amount of available disk space and Internet connectivity, such as whether your computer or other device is available online. This information will, among other things, help us deliver Digital Content to you more efficiently and effectively. The Software may also provide Amazon with information about the transfer of Digital Content to portable devices to help us ensure compliance with our rules concerning portable devices.
c. Removal of Software. If you uninstall or otherwise remove the Software, your ability to view all Digital Content you have downloaded to the Authorized Device will immediately and automatically terminate and we reserve the right to delete all Digital Content from that Authorized Device without notice to you.
4. LICENSE TO DIGITAL CONTENT DOWNLOADS
The Service allows you to (i) pay a fee to view Digital Content for a limited specified period of time (“Rental Digital Content”), and (ii) pay a fee to view Digital Content a repeated number of times (“Purchased Digital Content”). As used herein, (i) “Residence” shall mean a private, residential dwelling unit or a private individual office unit, but excluding hotel rooms, motel rooms, hospital patient rooms, restaurants, bars, prisons, barracks, drilling rigs and all other structures, institutions or places of transient or work-related residence as well as places, areas, structures, rooms or offices which are common areas or open to the public or to occupiers of separate Residences or for which an admission fee is charged; (ii) “Permitted Non-Residential Use” shall mean the private viewing by one or more persons on a video monitor (desktop, television monitor, laptop, hand-held device or otherwise) in a Non-Residential Venue; provided, however, that any such viewing for which an access fee or other admission charge is imposed (other than any fee related only to access such Non-Residential Venue for other general purposes) or any such viewing that is on a monitor provided by such Non-Residential Venue (or by a third party under any agreement or arrangement with such Non-Residential Venue) for display of programming in a common area shall not constitute a “Permitted Non-Residential Use”; and (iii) “Non-Residential Venue” shall mean any place, area, structure or room other than a Residence.
a. Rental Digital Content. Upon your payment of the rental fee, Amazon grants you a non-exclusive, non-transferable, limited right and license to view, use and privately display in your Residence or for Permitted Non-Residential Use, the Rental Digital Content purchased by you, by way of one (1) non-portable Authorized Device (e.g., a laptop or desktop computer) connected to the Service over the Internet as specified on the detail pages of the Rental Digital Content or other help or informational pages of the Service at the time of your payment. Unless otherwise designated on a detail page for Rental Digital Content, the license for Rental Digital Content is limited in its term and duration to thirty (30) days from your payment of the rental fee or twenty-four (24) hours from the time you start viewing the Rental Digital Content, whichever is sooner. The Software may automatically delete Rental Digital Content that is beyond its limited license term from your Authorized Device, and you consent to such automatic deletion. You may not copy or move Rental Digital Content from their originally stored location(s) on your Authorized Device. There can only be 1 (one) account for the Service on an Authorized Device.
b. Purchased Digital Content. Upon your payment of the license fee, Amazon grants you a non-exclusive, non-transferable, limited right and license to retain a permanent copy of Purchased Digital Content and to view, use, and privately display the Purchased Digital Content in your Residence or for Permitted Non-Residential Use as specified on the detail pages of the Purchased Digital Content or other help or informational pages of the Service at the time of your payment. You may exercise these rights on up to 2 (two) non-portable Authorized Devices (e.g. laptop or desktop computers) and two (2) portable Authorized Devices as specifically designated by Amazon from time to time. There can only be 1 (one) account for the Service on an Authorized Device. You may make a back-up copy of Purchased Digital Content on removable media (e.g. recordable DVD) or on an external hard drive in the same format as the original downloaded file to play on your permitted Authorized Devices. Any back-up copy of the Purchased Digital Content on a DVD will not be playable on a traditional DVD player, but only on a permitted Authorized Device.
c. Downloading and Risk of Loss. It is your responsibility to download Digital Content promptly after purchase. If you are unable to complete a download after having reviewed our online help resources, please contact Amazon customer service. You bear all risk of loss for completing the download of Digital Content after purchase, once we have made such content available to you (in Your Media Library or otherwise), and for any loss of Digital Content you have downloaded, including any loss due to a file corruption or a computer or hard drive crash. Purchased Digital Content will generally continue to be available in your Media Library for download to a second of your Authorized Devices (or re-download to the first Authorized Device you designate for the content), but may become unavailable due to potential content provider licensing restrictions and for other reasons and Amazon will not be liable to you if content becomes unavailable for further download.
d. General Restrictions. You may not transfer, copy or display the Digital Content except as permitted in this Agreement. In addition, you may not:
i. Sell, rent, lease, distribute, broadcast, sublicense or otherwise assign any right to the Digital Content to any third party;
ii. Remove any proprietary notices or labels on the Digital Content;
iii. Attempt to disable, bypass, modify, defeat, or otherwise circumvent any of the digital rights management or other security related tools incorporated into the Software;
iv. Use the Service or Digital Content for any commercial or illegal purpose.
5. PROMOTIONAL CONTENT. From time to time, Amazon will automatically deliver promotional video content (e.g., movie trailers, celebrity interviews, reviews, free videos, etc.) to your Authorized Device and may automatically delete the promotional video content from your Authorized Device without notice to you.
6. RESERVATION OF RIGHTS. Except for the rights explicitly granted to you in this Agreement, all right, title and interest in the Service and Digital Content are reserved and retained by Amazon and its licensors, and Amazon and its licensors do not transfer any right, title or interest in the Digital Content to you. You do not acquire any ownership rights in the Digital Content as a result of downloading Digital Content.
7. LIMITED TO U.S. The Services are available only to customers located in the United States. If you are outside of the United States, you may not use the Services and you may not transfer Digital Content outside the United States. As used herein, “United States” refers to the 48 contiguous United States, the District of Columbia, Alaska and Hawaii.
8. ALL RENTALS AND SALES FINAL. All rentals and sales of Digital Content are final when you click the “Buy Now” button.
9. ADDITIONAL TERMS
a. If you violate any of the terms or conditions of this Agreement or otherwise abuse the Service, your license to Rental Digital Content and Purchased Digital Content will immediately terminate and Amazon may, in its discretion, immediately revoke your access to the Service without notice to you and without refund of any fees. In such event, you must delete all copies of Digital Content that you have downloaded, and Amazon shall have the right to automatically delete all Digital Content on your Authorized Device without notice to you.
b. You understand that by using the Service, you may encounter content that may be deemed offensive, indecent, or objectionable, which content may or may not be identified as having explicit language or other features. Nevertheless, you agree to use the Service at your sole risk and that Amazon shall have no liability to you for content that may be found to be offensive, indecent, or objectionable. Content types (including genres, sub-genres and categories and sub-categories and the like) and descriptions are provided for convenience, and you acknowledge and agree that Amazon does not guarantee their accuracy.
c. If Amazon changes any part of the Service or modifies license terms applicable to Rental Digital Content or Purchased Digital Content, which it may do in its sole discretion, you acknowledge that you may not be able to access, view, or use Digital Content in the same manner as prior to such changes, and you agree that Amazon shall have no liability to you in such case.
d. Amazon reserves the right to modify, suspend, or discontinue the service at any time without notice to you, and Amazon will not be liable to you should it exercise such rights.
e. Amazon reserves the right to make changes to this Agreement at any time. Your continued use of the Service following any such changes will constitute your acceptance of such changes.
f. Content providers providing audio-video content that you rent or purchase on the Service are intended third-party beneficiaries under this Agreement.
MICROSOFT SOFTWARE SUPPLEMENTAL LICENSE TERMS
MICROSOFT .NET FRAMEWORK 2.0
Microsoft Corporation (or based on where you live, one of its affiliates) licenses this supplement to you. If you are licensed to use Microsoft Windows operating system software (the “software”), you may use this supplement. You may not use it if you do not have a license for the software. You may use a copy of this supplement with each validly licensed copy of the software.
The following license terms describe additional use terms for this supplement. These terms and the license terms for the software apply to your use of this supplement. If there is a conflict, these supplemental license terms apply.
By using this supplement, you accept these terms. If you do not accept them, do not use this supplement. If you comply with these license terms, you have the rights below.
1. SUPPORT SERVICES FOR SUPPLEMENT. Microsoft provides support services for this supplement as described at www.support.microsoft.com/common/international.aspx.
2. MICROSOFT .NET FRAMEWORK BENCHMARK TESTING. This supplement includes the .NET Framework component of the Windows operating systems (“.NET Component”). You may conduct internal benchmark testing of the .NET Component. You may disclose the results of any benchmark test of the .NET Component, provided that you comply with the following terms: (1) you must disclose all the information necessary for replication of the tests, including complete and accurate details of your benchmark testing methodology, the test scripts/cases, tuning parameters applied, hardware and software platforms tested, the name and version number of any third party testing tool used to conduct the testing, and complete source code for the benchmark suite/harness that is developed by or for you and used to test both the .NET Component and the competing implementation(s); (2) you must disclose the date (s) that you conducted the benchmark tests, along with specific version information for all Microsoft software products tested, including the .NET Component; (3) your benchmark testing was performed using all performance tuning and best practice guidance set forth in the product documentation and/or on Microsoft’s support web sites, and uses the latest updates, patches and fixes available for the .NET Component and the relevant Microsoft operating system; (4) it shall be sufficient if you make the disclosures provided for above at a publicly available location such as a website, so long as every public disclosure of the results of your benchmark test expressly identifies the public site containing all required disclosures; and (5) nothing in this provision shall be deemed to waive any other right that you may have to conduct benchmark testing. The foregoing obligations shall not apply to your disclosure of the results of any customized benchmark test of the .NET Component, whereby such disclosure is made under confidentiality in conjunction with a bid request by a prospective customer, such customer’s application(s) are specifically tested and the results are only disclosed to such specific customer. Notwithstanding any other agreement you may have with Microsoft, if you disclose such benchmark test results, Microsoft shall have the right to disclose the results of benchmark tests it conducts of your products that compete with the .NET Component, provided it complies with the same conditions above.
MICROSOFT PRE-RELEASE SUPPLEMENTAL SOFTWARE LICENSE TERMS
MICROSOFT WINDOWS MEDIA VIDEO 9 ADVANCED PROFILE CODEC
These license terms are an agreement between Microsoft Corporation (or based on where you live, one of its affiliates) and you. Please read them. They apply to the pre-release software named above, which includes the media on which you received it, if any. The terms also apply to any Microsoft
* Internet-based services, and
* support services
for this software, unless other terms accompany those items. If so, those terms apply.
BY USING THE SOFTWARE, YOU ACCEPT THESE TERMS. IF YOU DO NOT ACCEPT THEM, DO NOT USE THE SOFTWARE.
IF YOU DO NOT HAVE A VALIDLY-LICENSED COPY OF THE APPLICABLE OS PRODUCT, YOU ARE NOT AUTHORIZED TO INSTALL, COPY OR OTHERWISE USE THE SOFTWARE AND HAVE NO RIGHTS UNDER THIS AGREEMENT.
The software is protected by copyright and other intellectual property laws and treaties. Except as otherwise provided herein, Microsoft or its suppliers own the title, copyright, and other intellectual property rights in the software. Microsoft reserves all rights not expressly granted to you in this agreement. The software is licensed, not sold.
The capitalized terms used in this agreement are defined as follows:
“Application” means a software application in a final form of manufacturing with a fully functional user interface that is intended for distribution to end users.
“Codec” means all versions of the compression/decompression algorithm (“codec”) named “Windows Media Video” and any other codecs designated as “Windows Media” or “WM” codecs released by Microsoft for use with the software.
“Content” means digital audio (including, but not limited to, timeline-synchronized audio, music, voice, or sounds), digital video, and other digital information including data, text (including, but not limited to, script command data and related metadata such as a song title or an artist’s name), animation, graphics, photographs, and artwork, and combinations of any or all of the foregoing.
“Updates” means all subsequent public releases of software including public beta releases, maintenance releases, error corrections, upgrades, enhancements, additions, improvements, extensions, modifications and successor versions.
“VC-1″ means the video bitstream format described in SMPTE 421M: “VC-1 Compressed Video Bitstream Format and Decoding Process”.
All other initially capitalized terms have the meanings assigned to them elsewhere in this Agreement.
If you comply with these license terms, you have the rights below.
1. INSTALLATION AND USE RIGHTS.
* You may install and use one copy of the software on your premises to design, develop and test your programs for use with the software.
2. TERM AND TERMINATION.
(a) Unless terminated earlier under the terms of this Section 2, this agreement will expire one year after it takes effect, or upon commercial release of the software, whichever is first.
(b) Without prejudice to any other rights, Microsoft may terminate this agreement if you fail to comply with the terms and conditions of this agreement. In such event, you must destroy all copies of the software. Any distribution prior to the effective date of termination by you to end-users of your Application(s) including software in object code form which already have been validly granted under an end-user license agreement in compliance with this agreement shall, subject to applicable conditions under Section 7, not be affected and shall remain in full force and effect.
3. PRE-RELEASE SOFTWARE. This software is a pre-release version. It may not work the way a final version of the software will. We may change it for the final, commercial version. We also may not release a commercial version.
4. FEEDBACK. If you give feedback about the software to Microsoft, you give to Microsoft, without charge, the right to use, share and commercialize your feedback in any way and for any purpose. You also give to third parties, without charge, any patent rights needed for their products, technologies and services to use or interface with any specific parts of a Microsoft software or service that includes the feedback. You will not give feedback that is subject to a license that requires Microsoft to license its software or documentation to third parties because we include your feedback in them. These rights survive this agreement.
5. SCOPE OF LICENSE. The software is licensed, not sold. This agreement only gives you some rights to use the software. Microsoft reserves all other rights. Unless applicable law gives you more rights despite this limitation, you may use the software only as expressly permitted in this agreement. In doing so, you must comply with any technical limitations in the software that only allow you to use it in certain ways. Except as otherwise expressly provided, herein, you may not:
* disclose the results of any benchmark tests of the software to any third party without Microsoft’s prior written approval;
* work around any technical limitations in the software;
* reverse engineer, decompile or disassemble the software, except and only to the extent that applicable law expressly permits, despite this limitation;
* make more copies of the software than specified in this agreement or allowed by applicable law, despite this limitation;
* publish the software for others to copy;
* rent, lease or lend the software;
* use the software for commercial software hosting services.
6. REDISTRIBUTABLE SOFTWARE. You may reproduce and distribute the software, only in object code form, as specified in Section 7 below.
7. DISTRIBUTION REQUIREMENTS; LICENSE LIMITATIONS
(a) Redistribution. You may distribute the software as described above (collectively the “Redistributable software”), provided that: (i) you distribute the software only in conjunction with, and as a part of, your Application; (ii) your Application adds significant and primary functionality to the Redistributable software; (iii) you include in the About box for your Application (or if there is no About box, in another location that end users can easily discover and read), a copyright notice which states the following: “Portions utilize Microsoft Windows Media Technologies. Copyright (c) 1999-2006 Microsoft Corporation. All Rights Reserved”; (iv) you agree to display your own valid copyright notice which shall be sufficient to protect Microsoft’s copyright in the software; (v) you do not alter or remove any copyright, trademark or other protective notices contained in the software; (vi) you will not use Microsoft’s name, logo or trademarks to market or promote your Application, except as permitted in a separate agreement between you and Microsoft; (viii) your Application is provided to your end users pursuant to an end user license agreement which contains terms that are consistent with the terms and conditions of this agreement and shall be sufficient to protect Microsoft’s intellectual property rights in the software; (ix) you may not modify any portion of the software; and (x) you agree to indemnify, hold harmless, and defend Microsoft from and against any claims or lawsuits, including attorneys’ fees, that arise or result from the use or distribution of your Application. Contact Microsoft for the applicable licensing terms for all other uses and/or distribution of the software.
You agree not to permit further distribution of the software by your end users except you may permit further redistribution of the software by your distributors to your end-user customers if your distributors only distribute the software in conjunction with, and as part of, your Application and you and your distributors comply with all other terms of this agreement.
(b) Windows Media Interoperability. To promote interoperability with legacy and future solutions built on Windows Media technologies, Microsoft recommends that your Application follow these guidelines: (i) if your Application saves to permanent storage, writes to a network, or otherwise exports Content compressed with WM Codecs, such Content should be contained within ASF; (ii) if your Application creates ASF files, or registers for any file types or MIME types associated with ASF files, your Application should adhere to the ASF file naming and registration conventions posted on the http://go.microsoft.com/fwlink/?LinkId=11652 web site; and (iii) if your Application creates WM metafiles, or registers for any file types or MIME types associated with WM metafiles, your Application should adhere to the WM metafile naming and registration conventions posted on the http: http://msdn.microsoft.com/library/default.asp?url=/library/en-us/wmplay10/mmp_sdk/windowsmediametafilereference.asp web site.
(c) WM Metafile Alterations. Except as authorized in writing by the original provider of a WM metafile, your Application shall not (i) alter the end user playback experience indicated by such WM metafile; (ii) alter or ignore Content specified by such WM metafile; or (iii) present additional Content to the end user that was not originally specified in such WM metafile.
(d) No Alterations. You may not alter any component of the software.
(e) Invoking the software. Your Application will invoke the software only via interfaces described in the documentation for the software.
(f) Your license rights to the software do not include the right to, and you shall not, distribute the software in any manner that would subject the software to any terms of an Excluded License. An “Excluded License” is any license that requires as a condition of use, modification and/or distribution of software subject to the Excluded License, that such software or other software combined and/or distributed with such software be (x) disclosed or distributed in source code form; (y) licensed for the purpose of making derivative works; or (z) redistributable at no charge.
8. DESCRIPTIONS OF OTHER RIGHTS AND LIMITATIONS:
(a) Trademarks. This agreement does not grant you any rights in connection with any trademarks or service marks of Microsoft. For more information about Microsoft logo license agreements, send an e-mail to firstname.lastname@example.org.
(b) Upgrades. Microsoft may, at its option, make upgrades and/or successor versions of the software available by general posting on a Microsoft website. Microsoft may make non-beta versions of such upgrades and/or successor versions of the software (“Upgrades”) available pursuant to the terms of this agreement or, in Microsoft’s sole discretion, Microsoft may condition the release of such Upgrades to you upon your acceptance or other execution of a separate agreement. You agree that all new versions of your Application(s) released more than ninety (90) days after Microsoft’s release of an Upgrade will incorporate the Upgrade.
9. INTELLECTUAL PROPERTY RIGHTS.
Subject to Section 10, all title and intellectual property rights, including patent rights, in and to the software (including but not limited to any images, photographs, animations, video, audio, music, text, and “applets” incorporated into the software), the accompanying printed materials, and any copies of the software are owned by Microsoft or its suppliers. All title and intellectual property rights in and to Content that is not contained in the software but may be accessed through use of the software, are the property of the respective Content owners and may be protected by applicable copyright or other intellectual property laws and treaties. This agreement grants you no rights to use such Content. If this software contains documentation that is provided only in electronic form, you may print one copy of such electronic documentation. You may not copy the printed materials accompanying the software.
10. NOTICE REGARDING THE VC-1 STANDARD. This software may include VC-1 visual encoding and decoding technology. MPEG LA, L.L.C. requires this notice:
THIS PRODUCT IS LICENSED UNDER THE VC-1 PATENT PORTFOLIO LICENSES FOR THE PERSONAL AND NON-COMMERICIAL USE OF A CONSUMER TO (a) ENCODE VIDEO IN COMPLIANCE WITH THE VC-1 STANDARD (“VC-1 VIDEO”), AS APPLICABLE, AND/OR (b) DECODE VC-1 VIDEO THAT WAS ENCODED BY A CONSUMER ENGAGED IN A PERSONAL AND NON-COMMERCIAL ACTIVITY AND/OR WAS OBTAINED FROM A VIDEO PROVIDER LICENSED TO PROVIDE VC-1 VIDEO. NO LICENSE IS GRANTED OR SHALL BE IMPLIED FOR ANY OTHER USE, INCLUDING THE DISTRIBUTION OF ENCODERS AND/OR DECODERS AND THE COMMERCIAL DISTRIBUTION OF CONTENT ENCODED USING THE SOFTWARE, WHICH USES MUST BE SPECIFICALLY AND SEPARATELY LICENSED BY MPEG LA, L.L.C.
If you have questions about licensing the VC-1 visual standard, please contact MPEG LA, L.L.C., 250 Steele Street, Suite 300, Denver, Colorado 80206; www.mpegla.com.
11. EXPORT RESTRICTIONS. The software is subject to United States export laws and regulations. You must comply with all domestic and international export laws and regulations that apply to the software. These laws include restrictions on destinations, end users and end use. For additional information, see www.microsoft.com/exporting.
12. SUPPORT SERVICES. Because this software is provided “as is,” we may not provide support services for it.
13. TECHNICAL SUPPORT FOR YOUR APPLICATION. You are responsible for any and all maintenance, end-user support, technical support and updates for your Application.
14. ENTIRE AGREEMENT. This agreement, and the terms for supplements, updates, Internet-based services and support services that you use, are the entire agreement for the software and support services.
15. APPLICABLE LAW.
a. United States. If you acquired the software in the United States, Washington state law governs the interpretation of this agreement and applies to claims for breach of it, regardless of conflict of laws principles. The laws of the state where you live govern all other claims, including claims under state consumer protection laws, unfair competition laws, and in tort.
b. Outside the United States. If you acquired the software in any other country, the laws of that country apply.
16. LEGAL EFFECT. This agreement describes certain legal rights. You may have other rights under the laws of your country. You may also have rights with respect to the party from whom you acquired the software. This agreement does not change your rights under the laws of your country if the laws of your country do not permit it to do so.
17. DISCLAIMER OF WARRANTY. THE SOFTWARE IS LICENSED “AS-IS.” YOU BEAR THE RISK OF USING IT. MICROSOFT GIVES NO EXPRESS WARRANTIES, GUARANTEES OR CONDITIONS. YOU MAY HAVE ADDITIONAL CONSUMER RIGHTS UNDER YOUR LOCAL LAWS WHICH THIS AGREEMENT CANNOT CHANGE. TO THE EXTENT PERMITTED UNDER YOUR LOCAL LAWS, MICROSOFT EXCLUDES THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
18. LIMITATION ON AND EXCLUSION OF REMEDIES AND DAMAGES. YOU CAN RECOVER FROM MICROSOFT AND ITS SUPPLIERS ONLY DIRECT DAMAGES UP TO U.S. $5.00. YOU CANNOT RECOVER ANY OTHER DAMAGES, INCLUDING CONSEQUENTIAL, LOST PROFITS, SPECIAL, INDIRECT OR INCIDENTAL DAMAGES.
This limitation applies to
* anything related to the software, services, content (including code) on third party Internet sites, or third party programs; and
* claims for breach of contract, breach of warranty, guarantee or condition, strict liability, negligence, or other tort to the extent permitted by applicable law.
It also applies even if Microsoft knew or should have known about the possibility of the damages. The above limitation or exclusion may not apply to you because your country may not allow the exclusion or limitation of incidental, consequential or other damages.
Any Econ student with a calculator and vague understanding of Option ARMS can tell you that we’re about to face a recession. The question then is what kind of recession. Are we going to see inflation (stagflation) or deflation? Michael Shedlock of Mish’s Global Economic Analysis has been predicting a deflationary recession but with 4% inflation few have even considered the possibility.
“Am I declaring victory in my call for deflation?
No way. I will instead sit back (probably for quite some time) and watch the inflationists explain away things that “can not happen” that are happening.”
Barry Ritholtz, a big brained inflation hawk, surprised me with this blog-nugget:
I’ve been kvetching about inflation for the past 4 years; Here is a sign it may be slowing and even reversing: Restaurants shave prices, plump menus and Can Stephon Marbury’s $15 sneaker revolutionize the sports-shoe business?