Tuesday, November 17, 2009

Shaniya Davis, RIP 2009

There is no shortage of evil in the world carried out be people making evil choices. Often enough we dismiss things. The shooter was crazy. That person was suffering from psychological disorders. The killer had ideological reasons that can in theory be understood.

We cannot imagine deliberate evil in large ways despite the evidence of history. We fear to acknowledge the capability of man.

But again, there is no shortage of evil in the world carried out by people making deliberate evil choices, centered on self, lacking vision, warped by internal desire and blind to light. Evil is self placed above all, disregarding the life and freewill of others. Evil is lack of love. Evil is pride.

I am reminded of the character Wil Muny in Clint Eastwood's western Unforgiven, quite possibly the most meaningfully violent western every created. He states, "It's a hell of a thing, killin' a man. Take away all he's got, and all he's ever gonna have."





Sunday, November 15, 2009

Me and My Father on the Speedway of Nazareth

My father has been dead for 17 years now, as of today. He died from eating bad foods, and minutes after eating. They fished egg out of his mouth, as his last meal was eggs, bacon, toast, and home fries, each fried, cooked or basted with butter, shortening or cheese. But it is not such a bad thing to have a last good meal before death. The walls of his freedom had been closing in after a previous quadruple bypass, and he was slated to return to his job at Merrill Lynch the following morning. He was wondering if he could make it at all in his new weakened state. Instead he died on a Sunday while watching the morning political shows with his son.

His eyes rolled back as he tried to say something, his voice clicking and locking as his body spasmed. You rush to the phone. Help came and he died later at the hospital. I've yet to live longer than him and on days like this I wonder if I will.

The odd thought now is that he has been dead almost as long as I've known him when alive. Not only do I wonder where has he been all these years, and doing what, but I wonder what I have been all these years (to others). I feel slightly ashamed, and that I might disappoint him, or a greater accountant. One should not, I think, be worried about disappointing parents when you are past a certain age and when they no longer exist, but still, I often get the feeling I am being watched, and would hope that I am at least bringing joy to his heart if he is permitted to watch me from where he sits.

Nascar is here this weekend in Phoenix, and the chase goes on.

Here are my thoughts from last year in May (his month of birth), reposted here:


Midway into Mark Knopfler's "Speedway at Nazareth," I often tear up, and now is no exception. I should be asleep but I am not, up thinking thoughts, worrying, wondering what my life has become.


When I hear this song I think of my father, now dead, and imagine myself with him, and running with a host of people toward God standing upon some distant hill. It's an odd little vision. I picture me and hundreds, thousands of other people in this grassy plain. And up on the ridge there, to the right of the tree of life, God is waiting, and crowds of people are standing with him. They are waving and clapping and you can hear shouts of "Come on, come on" and "You can do it."


But we are not there yet. We are on the plain, and behind is some enemy. Even THE enemy. Milton's Satan, rationalizing away with "Aw come on folks." At first we are milling about. I am standing talking to my dad (even though he is already dead). Others are sitting, fingering dandelions and bored. People are hot, sweaty. Someone says, "Hey, that guy on the ridge is calling us," and points.


Some people look up and are like, "What's he saying?" Someone shouts, "I think that is Jesus." Slowly heads turn in that direction. I hear some fat lady saying, "My aunt Janie is up there" and she starts running. Three hundred pounds of fatness and each step takes her an inch, but she runs nonetheless. I turn to my dad and say, "Check her out" and several people are kind of laughing. But I look at her face and she is happy and waving her arms and though every part of her body is shaking like jello, she does not care anymore. She just wants to make it to the hill. "Heyo! I'm coming she says" and her steps get bigger and bigger and it almost looks like one of those moon walks, or leaping in a dream, where she is bounding further ahead, weight and all, yet weightless.


Her husband, who was standing indifferent smoking a cigarette just a second ago saying this was all complete bullcrap, yells out, "Baby wait for me" and he takes off running after her like a little a baby chick. People begin to get up and move in the direction of the hill. Some drift, others move briskly, but it is hard to ignore the people on the distant ridge jumping up and down and making such a commotion.


"Someone called my name" my dad says
"Really? I didn't hear anything," I respond as he stands up.
"I need to get up there. I don't think I can make it though. My heart. This thing will kill me but I have to go."
"Let's go then, " I say, and we begin walking. The whole crowd is on the move now.


Meanwhile Satan is standing, pissed. He begins to turn things dark behind us. The crowd looks back. At first we see just darkness and clouds. But then fearful things appear. I look back and see myself. My true self and am afraid.


"We gotta run," I say to my dad, and we start up a trot. Pretty soon everyone else is picking up the pace. I have never seen so many different types of people. Thin people, a group of Malays over there, a mother and her toddler, a skinny gawky kid who suddenly takes off toward the hill.


"Fuck this shit, I am running too," says some Marine looking type and I watch as his legs pump up and down all powerful like. Pretty soon he has caught up to the leaping fat woman and her husband, and they all look at each other and start laughing. Running, laughing, leaping. Mid stride she turns around and yells to us way behind, "Come on now. You can do it."


My father is tired. Sweat poring down his face. That ridge was farther than it looked. We stop. "I can't do this," my father says to me. "I can't keep going. I feel like my heart is gonna pop right out of my shirt."


"We have to keep going. That's God up there! Look at all those people up there. All those people who went before. Everyone we ever wondered about, everything we never knew. Every magic, mystery and spirituality becomes science and explained to us. Come on."
"I can't. Go son. If I see you make it, then I will be happy," my father says to me, and it makes me cry.


I lift him up in my arms in the way you see parents carry their little kids and run around the yard. I used to get spanked that way for bad report cards. He would hold me in his left arm, and spank me with the belt in his right. Eventually I got too heavy or the whole enterprise got too ridiculous and he took to just giving me the "disappointed face" and lecture instead. And now here I am picking him up.


I grab him in my arm, amazed that I can and I start trotting along and he is really heavy. I mean heavy. But as I am running people are running next to me, and past me. Some old lady with an elaborate hairdo fit for a king to live in as a palace turns to me and says, "Ya'll can do betta than that. Come on now. Don't let this ole momma beat you up that hill" and it makes me laugh and I start running faster. I still see the fat lady leaping ahead and notice that a lot of people are actually leaping now too.


"I've always wanted to do that," I hear a plump man nearby say and he just starts up into the air, whooping it up. "OMG. OMG." After leaping in place a while, he starts leaping forward and others follow his example.


"I wish I could leap like that." I wanted to leap like that in the same way I wanted to go into the ocean, or dance on a dance floor, or run around like a silly happy dog, with no other purpose than sheer joy of the moment.


I try to take leaps but my father is so heavy. "Leave me, and leap," he says and I tell him to be quiet. I attempt giant strides and notice that with each stride, I begin to cover more distance. "Leap Finn," I hear someone say from the distant hill and I take a huge jump step forward and me and my father are soaring through the air. All this weight, these pounds that I carry in daily life are no longer holding me down. I am leaping and my father is laughing like "What the hell" and pretty soon everyone is all energy: leaping, hopping, floating, bopping.


There is a whole contingent of little kids to my left who are hopping like rabbits, which is something to see, but not nearly as funny as their parents, who hop along too. A Chinese guy passes me backwards, moving faster backwards than some facing forwards.


"Why are you running backwards?" I ask, and he says, "The faces. I have never seen so many happy faces and it makes me know where I am going and why."


I start picturing that scene in Moses, where the Hebrews are fleeing the Pharoah, and everyone is helping everyone get to where they need to be. Physics seems to be broken. "It's not broken. It's the full effect that we are seeing," says my dad.


As each person reaches the ridge we see them stand and turn to the rest of us and wave us forward. But we can only see the people on the ridge and not beyond.


Eventually we arrive there and I am hot and tired but filled with joy and we look over and see billions that had been out of view. Finally my father and I stand on the edge with God, and we are looking down at the plain, and darkness against the far sky, and only Satan is there, hand on hips, shaking his head.


He begins to weave quickly across the plain and in seconds he stands in God's face. "I remember when we were friends," he says, "and you turned on us and left us alone to our dark selves. Where is your seventy times seven? Is there nothing for one like me?" God stands and stares and I wonder if such is even possible. God wipes his sleeve on his wet cheek. It's certainly not theological. "Can't you heal him and make him one of us?" some child asks.

***


Of course that has nothing to do with the song's actual lyrics. The lyrics are about a race car driver who keeps having disasters at every race he attempts. And finally, near the end, at the Speedway of Nazareth, he finds redemption. Half the song continues beyond the lyrics, and the rythm and pace pick up. That is when I usually start picturing that scene above. The music grabs your imagination and you just start thinking thoughts. Maybe not as crazy as mine, but it moves you. You can check out a live version here (not the best), or you can actually get a hold of the studio version of the song . Close your eyes. Turn up your headphones and let your mind wander.

Half my life is over, and in the late night I think dark thoughts and wonder how to go on. I hope I find Nazareth.






MARK KNOPFLER
Speedway At Nazareth

Words & Music:
Mark Knopfler

After two thousand came two thousand and one
To be the new champions we were there for to run
From springtime in Arizona 'til the fall in Monterey
And the raceways were the battlefields and we fought 'em all the way

Was at Phoenix in the morning I had a wake-up call
She went around without a warning put me in the wall
I drove Long Beach, California with three cracked vertebrae
And we went on to Indianapolis, Indiana in May

Well the Brickyard's there to crucify anyone who will not learn
I climbed a mountain to qualify I went flat through the turns
But I was down in the might-have-beens and an old pal good as died
And I sat down in Gasoline Alley and I cried

Well we were in at the kill again on the Milwaukee Mile
And in June up in Michigan we were robbed at Belle Isle
Then it was on to Portland, Oregon for the G.I. Joe
And I'd blown off almost everyone when my motor let go

New England, Ontario we died in the dirt
Those walls from mid-Ohio to Toronto they hurt
So we came to Road America where we burned up the lake
But at the speedway at Nazareth I made no mistake

(P.S.- Never blog late at night with a lot of things on your mind.)





Saturday, November 14, 2009

Sarah Palin, Rogue Five Year Old, Runs Rampant Across American Living Room

Like a five year old unleashed, Sarah Palin on Monday is bringing her rogue spirit to a small or medium sized town not near you to promote the new book she had no hand in writing. Her tour provides an opportunity for her to reintroduce herself to the American public; the assumption is that we didn't get the true Sarah last time around but now we will see her as she is. Unfiltered, and strong.

We imagine this would work swell if Sarah has been spending her time halfway out of the spotlight perfecting a variant of alchemy, finding a way to turn her lesser qualities (like vast ignorance) into something approaching wisdom and knowledge. Of course doing that involves time and focus, and when you are busy not writing your memoirs, and devoting all your attention to not writing your own memoirs (you know, bringing the ghost writer another cup of tea or slice of deer meat), and while keeping a close focus on your many children, there is little opportunity to sit down and actually do a little learning about the ways and means of the world.

The hard right has convinced themselves that the left is afraid to have Sarah unleashed upon the political scape, and that her obvious capabilities (put your 3D glasses on) have the detractors intimidated. The detractors are waiting for her to have some unscripted moments, where her own tongue will deja vu us back to remembering why she is not now vice president.
Her three-week, 14-state tour, to be kicked off Monday by an appearance on “Oprah,”is an opportunity to recapture the narrative of her own career, keep her political options open and make heaps of money in the process.
(L.A. Times)

Just how much of an opportunity America gives this political five year old to run rogue will be interesting to see. From excerpts and purported facts leaked from the book, her grasp of the truth still seems to be wanting, with every major and minor misdeed laid at the hands of others. It's never her fault, or her responsibility, and if you would just conform your mind to her version of reality, and listen, all will be well.

It reminds us of the child of a friend we know. We will occasionally ask her "How was your day?" and if her mother is not around, we are often fed the most elaborate concoction of stories that render that day's life in kindergarten as some sort of Lord of the Flies redux. When the mother asks the same question, it's all cookies and milk and happy face stickers from the teacher.

Somewhere, someone is lying, with the five year old mind content to offer the most meandering and farcical answers to the simplest of queries. Unfortunately for Sarah, the world is run by adults.

Wednesday, November 11, 2009

Jury of "Peers" Sets Innocent Bears Free

If we can remember back to August of 2007, back before Obama was on the job (though equally loved and dismissed), we can mark the beginning of the end of the financial period with the instability found in two mortgage funds managed by the now defunct Wall Street firm of Bear Stearns.

The funds' investments were beginning to lose value and executives at Bear struggled with the question of how much support they should give to prop up the funds and maintain reputation. Merrill Lynch, ever shortsighted, stepped in to demand collateral and things deteriorated even further.

The funds collapsed and were the first domino in a series to tilt the financial industry on its side. Two fund managers were arrested almost a year later, Mathew Tannin and Ralph Cioffi. Lawsuits quickly followed, including some by large banks that claimed to have been defrauded.

The government in these situations often looks for quick action and to make an example. The desire is to appease the average citizen who is usually outraged at processes they don't fully understand and have preconceived notions about. In the collapse of the home mortgage market and the related financial meltdown, the quick assumption by the man on the street is that none of this would have occurred if not for major corruption by someone else; that corrupt someone worthy of blame is usually highly paid, and entirely worthy of whatever blame can be tossed their way.

Which brings us to this week. It was a very happy week for Ralph Cioffi and Mathew Tannin when a jury of not quite their peers (economically speaking), did not find the government's case against the two men conclusive. Among other things, the government attempted to present email and other conversations in a contextual light that rather dispensed with... context. Some of the email messages that seemed to implicate the fund managers when taken in short quotes, proved to be saying something else when taken in full.

Complexity. The desire of people to reduce everything down to simplicity is the very ingredient that will keep practical reform and change from occurring. Rather than show trials and putting perceived criminals on parade, the real effort needs to be made in Congress, with financial reform that both allows for creativity but punishes reckless risk, consumer fraud, and extreme leverage by firms that could not otherwise avoid collapsing the system if mathematical risk models prove inaccurate.

The public looks for the trials instead of getting engaged over reform at the policy level, and too easily falls under the spell of those politicians pushing a free market mantra of laxity. Without meaningful regulation, we run the risk of killing capitalism as we know it. We applaud the jurors for not looking for easy and inaccurate justice.

Sunday, November 8, 2009

Healthcare Reform, Reforming Judaism, and Independent Thinking

Do you know who you are deep down inside? Or do you conform to others' expectations, riding lock step with the herd, lacking independence? While in the process of passing historic health care legislation, it would appear that most of the members of Congress in the House opted to stay with the herd and not stick their necks out. The legislation passed largely along party lines, and mostly along the lines of liberal versus conservative. One Republican from Louisiana was brave enough to lend his support, and one has to give some credit to Representative Joseph Cao for showing independence. It would be nice if Democrats and Republicans alike had mixed it up, with the bill passing with equal support.

When given the chance to do something, Cao chose to be his own self, and put people above party. There will always be costs to most things that need to be done, whether one is trying to improve health care for Americans, or invade Iraq to improve life for Iraqis. Sometimes when Republicans make their choices, cost is only a concern when it comes to big issues they don't really want to back due to some ideological calculation that does not factually pan out.

Should the Senate do its part, and with a final version of legislation passed, years from now we will look hard to find all of those who were against this legislation. Nearly everyone who is against it has benefited from government action in the healthcare sphere, whether they admit it or not. Reminds us of one of our teacher friends who is viciously against this change, wearing the t-shirt that he loves urging Obama to keep the change. Meanwhile, he works for the taxpayers, who supply his monthly wage and healthcare coverage.
There are only 57 Democrats and two independents in the Senate. Two Republicans have signalled they could approve a compromise health bill.
If it is passed, lawmakers from both houses will try to reconcile the two versions before the programme can be signed into law by the president.
In Saturday's vote, the bill was supported by 219 Democrats and one Republican - Joseph Cao from New Orleans. Opposed were 176 Republicans and 39 Democrats.
(B.B.C.)

*

Meanwhile, back in the winter wonderland that is Iceland (in our imagination anyway, reality be darned), the krona has begun to stabilize. The government moved interest rates down a point to 11%, which is a sure sign of some strength in the currency, and a drop from the 18% rates in March. Since Iceland was basically the truck that overturned on the economic disaster highway, with other cars passing with less damage (South Korea, China), its recovery is due special significance. They may be without McDonald's, now that company opting to pull out the country (no doubt boosting Icelandic healthcare in one swoop), but they can take their Big Mac money and save it with some confidence. If America is the bull in the china shop and suffering through rampaging unemployment, Iceland is a canary in the coal mine, so we watch it.

*

We also watch home builders, the canary in the American economic mine. The news thus far has improved, sort of. One the one hand, losses continue. On the other hand, new orders are up from lows. On the one hand, buyers in certain markets like Arizona are buying foreclosed homes instead. On the other hand, the company is paring debt and increasing cash to $2 billion. If we count on our toes, we can throw in the Senate's move to extend and expand credits for new home buyers ($8k) and existing owners ($6500). So, overall, good news, yes?

*

When the cat is away trying to keep people employed, solve impossible Mid-East problems, and reform healthcare, the mouse gets the chance to eat the cheese. In this case, African cheese (which, if you didn't know, is made out of oil and minerals).
Besides the financial assistance, Mr. Wen also promised to form a partnership to address climate change in Africa, including the building of 100 clean-energy projects across the continent. Beijing will also remove tariffs on most exports to China from the least-developed African nations that do not have diplomatic relations with Taiwan, and sponsor an array of other programs in health, education, culture and agriculture.
The gestures are likely to further cement China’s good relations with many African nations, and may help address rising concern in some quarters that China is merely replacing Europe as a colonial power.
China’s focus on extracting oil and minerals from Africa has drawn some criticism from African scholars, and labor and safety conditions at some Chinese-run mines and smelters have set off outcries by African workers. Some critics say that the flood of low-cost Chinese goods into African cities has displaced products once made by local workers.
(N.Y. Times)

This is kind of mind blowing for this American mind. One always imagines that the United States should be doing this. Maybe not actually giving away $10 billion and fostering goodwill (and grabbing construction opportunities), but at least having the means to do it. Up is down. Left is right.

*

Who are we anymore?  Such questions abound, and especially in the Jewish community. British authorities have taken it upon themselves to temporarily and situationally resolve the issue. Orthodox Jews are not pleased with the interference, but it brings to mind many interesting questions that extend beyond the self-identity of the Jewish population.
The case began when a 12-year-old boy, an observant Jew whose father is Jewish and whose mother is a Jewish convert, applied to the school, JFS. Founded in 1732 as the Jews’ Free School, it is a centerpiece of North London’s Jewish community. It has around 1,900 students, but it gets far more applicants than it accepts.
(N.Y. Times)

The problem is that the school follows the standard Orthodox definition of Jewishness as laid out by the chief rabbi of the commonwealth. "You are not a Jew", went the rejection.

In appeals, the court eventually ruled that deciding "Jewishness" based on ethnicity is discriminatory. One wonders if this could be extended to the building of a modern state as well. Can Israel be, and remain, truly Jewish without actually discriminating against others? To the extent you grow lax in that self definition of what it means to be Jewish, do you not lose the essence of what you are trying to preserve?

Of course members of the Jewish community are hugely divided on the issue:
Lauren Lesin-Davis, chairman of the board of governors at King David, a Jewish school in Liverpool, told the BBC that the ruling violated more than 5,000 years of Jewish tradition.
“You cannot come in and start telling people how their whole lives should change, that the whole essence of their life and their religion is completely wrong,” she said.
But others are in complete sympathy with M.
“How dare they question our beliefs and our Jewishness?” David Lightman, an observant Jewish father whose daughter was also denied a place at the school because it did not recognize her mother’s conversion, told reporters recently. “I find it offensive and very upsetting.”
(N.Y. Times)

If you are Jewish, is it because you are biologically Jewish (via father and/or mom), or specifically biologically Jewish on your mother's side? Does the practice of Jewish tradition and law, being observant, make you Jewish? One rabbi, likely in some jest, states "that having a ham sandwich on the afternoon of Yom Kippur does not make you less Jewish", thus sticking to a specifically biological determination. If that is the case, what does that say for Israel and its future development? How are those identity questions resolved in a land filled with different types of Jews, topped with a mix of Arabs and others?

*

Often it is hard to know what identity to establish and how to find our true selves. Is a Christian even a Christian who is one that self identifies or is the Christian the one who quietly follows the words and lead of Christ? Is a baker the one who wears the baker outfit with poofy hat but never touches an oven, or the man who produces delightful sweets and breads sans uniform? Are you identified by your fruit in the same way you are what you eat?

This weekend at least, Representative Cao of Louisiana knows he is his own person, one Republican on a lonely path in pursuit of change.

Thursday, November 5, 2009

Bloomberg Wins, the Fed Chills, the Senate Pays Up, and

New York, New York, home of the ambitious. Billionaire Bloomberg gets another term as New York City's mayor, term limit laws having been properly adjusted to smooth his way. Meanwhile Andrew Cuomo, New York's attorney general, is making his own political moves in the form of suing Intel for violations of antitrust law.

In looking at the allegations, one could argue that Intel has every capitalistic right to reward and manipulate the customer base in favor of its own products. AMD, the smaller chip competitor, is perhaps peeved, but it's not truly Intels place to create a happy market for all. You could also make the case that AMD's building of a new chip manufacturing foundry in New York makes Cuomo's dubious effort even a bit more dubious.

Finally, you could wonder if this is the exact right time to engage in tearing down a particular company. We are, after all, smack dab in the middle of pretty sloppily attired economic times. Why now Mr. Cuomo?
Keith N. Hylton, a professor at the Boston University School of Law, said that Mr. Cuomo could benefit politically by taking such a prominent stand on behalf of local workers and consumers. “An attorney general is understood to be an aspiring governor,” he said. “They are politicians, and they want to be on the gravy train for big cases.”
During the news conference, Mr. Cuomo said that thwarting Intel’s abusive actions was important to consumers and businesses worldwide. “It is not just about New York,” he said.
(N.Y. Times)

We're thinking it's all about New York, for Mr. Cuomo.

*

Mickey (as in Mouse) is going to go all hardcore on us, which is odd, because we were pretty sure he was the manliest, toughest, most hardcore fake living mouse ever. Can he get any harder, any badder? Badass Mickey? Let's just hope he does not go all the way street, and be the Vanilla Ice of mice, wording it to our mammas.

*

Blow the trumpets. The Lords of Washington have spoken:
After nearly a month of gridlock, the Senate voted unanimously to extend unemployment benefits for some 1.3 million jobless Americans expected to lose benefits by the end of the year.
If, as expected, the House adopts the Senate version of the bill, it means workers in all states will be eligible for an additional 14 weeks of federal unemployment benefits. In states with unemployment rates higher than 8.5 percent, workers will be able to extend their federal unemployment benefits a further six weeks.
(Christian Science Monitor)

This is awesome news for those who are unemployed, and one marvels at the unanimity, but frankly, the same enthusiasm should be shown in working out healthcare legislation. It's that serious.

It probably would have also made sense for most stimulus to be funneled directly to each state to use to fill budget gaps, as opposed to dubious building projects, but  little late for that now. Just seems like there would be a lot less people out of work RIGHT NOW, if budgets were not so tight.

Somewhat related to that, it amazes how the Arizona legislature would rather throw people out of work in an effort to close a budget gap, rather than impose a small tax that nobody will even notice they have to pay. While low taxes are really good, zero taxes via total unemployment and lack of income is even worse; it's very bad for the voter and the economy.

*

The Fed cut interest rates to near zero last December and has pumped more than $1 trillion into the economy to tame a severe financial crisis and the deepest recession since the 1930s.
Now that the economy is starting to recover, financial markets are increasingly wondering when the Fed and other central banks around the globe will begin to remove the extraordinary economic support they have provided.
(Reuters)

When the Fed stops trying to heal our inflated economy by inflating the economy, when they start to tighten up monetary policy, that's the exact moment when you should be sitting there with short positions in gold.  The smug or delusional (as all gold enthusiasts are one or the other, when not both) enthusiasm for that product far exceeds its true value, pumped and hyped like every other product on earth. We've gone, essentially, from an inflated housing market, to an inflated oil market (last year) to now an inflated gold market. Short of the type of doom posited in the 2012, there is no reason to be up to your buttox in gold.

In any case, the Fed has decided to keep rates at virtual zero until that exact moment when the economy is trending in the right direction, and so long as inflation does not come a loitering. This is probably the right thing, keeping borrowing cost low, and we are sure the reluctance of banks to make any dubious loans will keep things in check this time around.

*

This will probably annoy some... the first lady making a cameo on Iron Chef in her continued promotion of healthy eating. If it annoys you (still seething over last year's political losses, or gloating over Republican wins in N.J. and Virginia yesterday), or you find room to be snarky, then it's a good time to examine your priorities and outlook.
The first lady came through the door of the South Portico in a pumpkin-orange dress with teal blue shoes and short sweater, announced the secret ingredient and talked to the chefs about getting children to eat vegetables.
“It’s important for these kids to have a hands-on experience,” she said. “And now we’re expanding the tours of the garden to any public school children that come to Washington, D.C., and we’re doing those on a regular basis, and it’s been just a wonderful educational addition.” She suggested that the chefs might want to consider cooking some of the exceptionally large sweet potatoes in the garden. “We are sweet potato lovers,” she said, “especially the president.”
(N.Y. Times)

Monday, November 2, 2009

Goldman Sachs Fixes NYC Marathon, Winner Won't Show U.S. Birth Certificate

It's Monday. An American (named Meb, out of Africa... hmmm) won the N.Y.C. marathon yesterday. We always view the marathon as the true start of the holiday and fall season. Here in Arizona even more, when the air does not even begin to turn cold until,... now.

Things are quite cold for Goldman, Sachs, and Greg Gordon at McClatchy gives us still another piece on Goldman filled with a bunch of isolated facts that, taken together, are meant to imply guilt except that, 1) every other firm did much of the same thing and 2) none of these things done were illegal. You can read the comments after the piece, and marvel at people's willingness to comment strongly on issues and businesses beyond their understanding. One can read Mr. Gordon's entire piece, with quotes from academics and lots of "ifs, ands or mayhapses," but he never gets around to breaking any ground on the matter, or proving any ill gotten gains.

The idea that you should expose your hedges to all your clients, and to the public, borders on the absurd. If Goldman was not considered Jewish, we might not even be having this single-minded focus on one firm, that, thankfully, is still running, making money and keeping our financial system from totally falling into the toilet.

Various firms that bought mortgage securities want to backdate Goldman's prescience (to the beginning of time no doubt), despite the fact that at one time everyone, EVERYONE, was working under the assumption that home prices would continue to rise indefinitely. A few individuals, firms, and companies thought otherwise, or paid close enough attention to come to their senses faster than the others (who often were motivated entirely by short term greed). Nobody is to blame for anyone overpaying for an asset, be it a tulip, gold, a home, a  dot com company or a mortgage backed asset.  Further, you don't fault a financial firm for hedging its exposure in its various lines of business. As individuals don't we both invest in our homes, paying for it over time, while simultaneously holding insurance to protect against lost?  That's a duality that is not overly complicated, unless one is being willfully ignorant.

*

I am sitting here listening to Florence and the Machine, the song "Girl With One Eye" and not quite sure if they are a passing sonic fancy, much like Macy Gray and Amy Winehouse. Sometimes a voice is so unique that is seems contrived, even when not. Time will tell.

*

In other news:

  • Afghans decide to make life complicated... what is it with this sitting out elections just to undermine everything. Oh Abdullah, Abdullah. Might be time for us to call it a day and focus on Americans. We can't raise the dead by beating a dead horse. 
  • New biography out on Ayn Rand, whose thoughts seem to permeate the conservative mind of late, leading them to mental perdition. Ayn did you see that rational market crash? Oh wait, you are dead. N.Y. Mag argues that her philosophy (like many philosophies), is merely the personal face of bias seeking a logical looking mask. Her bootstraps assertion of nobody helping her on her arrival in the United States is pointed out as a falsehood, but it's the type of myth by which certain types of conservatives inebriate themselves. Like most people, and ideas, Ayn is partially right, and partially wrong. People without discernment should stay away. 
  •  Democrats are fighting, fighting, to hold on to things like New Jersey. Jon Corzine, governor of New Jersey, is in a close race. Given the ex-Goldman superpower mythology that is out there, he is probably getting ready to put his fist together with some other ex-Goldmanite and say, "Wonder Twin powers, activate, form of "landslide", shape of "avalanche". Christopher Christie, the Republican opponent, has a superhero on his side as well. South Carolina Representative Joe Wilson was on hand to say, "You Lie!" on behalf of his brother in arms. 
  • The Yankees won again, needing one more. That is a sign of promising things. It will stimulate the inflation of payrolls by teams in other cities, which is good for consumer spending across the land. Ever notice that places like Afghanistan don't have strong sports leagues? Yea... build some sports leagues and everything would be peachy over there. 40,000 more athletes, not troops. Let the Taliban have a team too. They can call them the Taliban Yankees.