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Monthly Archives: January 2009
The Face of the Economic Crisis
It is really easy to read how bad the economic crisis is and to watch your portfolio and the major indexes decline. But it is also very important to understand what life is like for the people losing their jobs and what they face. I think the below 60 minutes piece about Wilmington, Delaware is a must watch.
I implore everyone (who have the means) to consider doing what you can in terms of volunteering or donating food or money to help those most in need.
Poodle sends former French Prime Minister to hospital
You just can’t make this stuff up:
Former French President Jacques Chirac was rushed to a hospital after being mauled by his pet dog who is being treated for depression, in a dramatic incident that rattled the ex-president’s wife.
Cheat, Pray, Love
Be sure to read the following column from the New Yorker on financial fraud, its very well written here is an excerpt:
But the main reason that Madoff didn’t destroy investor confidence is that it was already gone, thanks to a year when just about every institution that the market depends on—rating agencies, accounting firms, regulators, Wall Street C.E.O.s.—had messed up. The whole web of intermediaries and knowledge brokers that modern asset markets have come to rely on has become frayed. That helps explain the current credit crunch—bank lending has dropped fifty-five per cent this year—and the dismal state of the stock market. Discovering what the crooks have been up to is disillusioning, but not as disillusioning as coming to terms with what the so-called honest people did.
Here is the link: New Yorker on confidence and fraud
Communism and Dissent
Want another affirmation as to how lucky we are to live in America? Check out the following from the New York times reporting that China cut out parts of Obama’s speech:
At one point, Obama said earlier generations ”faced down communism and fascism not just with missiles and tanks, but with sturdy alliances and enduring convictions.” He later addressed ”those who cling to power through corruption and deceit and the silencing of dissent — know that you are on the wrong side of history.”
The Chinese translation of the speech, credited to the Web site of the official China Daily newspaper, was missing the word ”communism” in the first sentence. The paragraph with the sentence on dissent had been removed entirely.
Here is the full story:China and Obama’s speech
Maybe there is hope for the future
I took this picture at an elementary school in Santa Barbara, CA. I was waiting for Anthony, the kid I’m a mentor to.
The kid who made this star is in first grade. Maybe we should be optimistic for our future…
UN Acquires the Bomb
This is soooo funny:
“The U.N. Headquarters in New York has flags from all over the world and enough uranium to wipe Israel off the map.”
Here is the link:
Remembrance of Dr. King
Here is his famous “I have a dream” speech. How proud and happy would he be for Tuesday’s inauguration. And how much does our nation owe him and every person who struggled and fought for civil rights in this country.
Grilling of Vice Chairman of the Fed
This is a must watch of finally a congressman standing up and asking tough questions about where the $1.2 trillion the Fed spent went.
Keynesian Economics & Gov’t Spending Isn’t Going to Help
This following is an excellent video from the Cato Institute showing the fallacy of a government spending program meant to boost the economy. I got this link from Mark Perry’s excellent Carpe Diem blog. The investing implications are important because if history is a guide the economy will not rebound due to Obama’s trillion spending plan.