With interest rates at near zero for banks and very low even for consumers perhaps we should increase the price at this point. But because we consider ourselves a public service we will hold the line at 2 cents for “an extended period of time” or maybe into mid 2013.
The stock crash of ’87 was much worse than what we have seen in the last couple of weeks on a percentage basis. The Dow was about 2200 or so and fell to just above 1500 within a day. That was a huge sell off and shook the markets for a moment. But the decline was temporary. The market started a slow but steady slog back up that continued more or less without serious interruption until the Dot Com crash of 2000.
The parable of the 99 and 1 sheep is all about the shepherd. The 99 was safe and ok. It was the one that was lost and needed help. The Good shepherd couldn’t rest without going out to seek the lost one. Not because he loved that one more or valued it more. That sheep was his charge. You might note that the parable doesn’t make clear whether or not he even found the lost sheep. It was the looking, the trying, the doing his duty that is important. Sometimes it is your attempt at something that is as important as the outcome. If we all depend on positive outcomes all the time to measure our success as humans then we are likely to endure lots of disappointments. But if we do our duty always we will meet with constant success.
Remember all those pundits who predicted that gold was overpriced at $1500? Maybe it is overpriced now but folks are willing to pay over $1750 an ounce for it at the moment. It is not a currency and will not be anytime soon but it sure is treated like one by the buying public around the world. The politicians couldn’t allow a gold standard because then they would really have a hard time manipulating the books. If all those borrowed dollars had to be backed up by gold reserves in some amount it would put the brakes on debt growth and the ability to print money.
The bottom line of the recent debt ceiling negotiations is that the Feds have been authorized to borrow another 2.4 trillion dollars in just a little over 16 months or so. Think about that one for a moment. Sooner or later those debts have to be paid. You think they will be paid back with inflated dollars hot off the printing press? Yep, and you don’t need a PHd in economics to figure that one out.
Should the SEC be investigating the Federal government to determine whether or not it is making “material misrepresentations” in the offering of its Treasury securities? That is a classic violation of rule 10b5 of the 1934 Act. How can the Pres. and others in the Administration go public talking about the US having a AAA rating and being sound financially when the underlying numbers show increasing debt and no reduction forever. The accounting facts don’t gibe with the salesmanship.
We just passed the 66th anniversary of Hiroshima and Nagasaki. The Japs still weren’t responding to calls for surrender so our naval forces moved in the following week literally to coastal towns of Japan to pound refineries and other infrastructure facilities. The Navy brought to bear both air power and the big guns of battleships and cruisers. The Japanese news agencies still wouldn’t acknowledge that we were now literally at their shores and could do so whenever we pleased. They still retained over a million troops in Manchuria and had thousands of planes in the homeland for last-ditch kamikaze attacks. Mercifully they finally threw in the towel about a week later.
At this time of severe drought around much of the world we should recall that 97% of all the water on earth is in the oceans. Only 3% is fresh water and of that 2% is locked in the great ice sheets of the arctic and Antarctica. Mankind depends for all its water needs on only 1% of the earth’s water and some of that is not reachable for practical purposes. A thin margin for some 6 billion plus people. Hot has it is this summer we quickly forget how cold it was over most of the country last winter. It was really cold for a long time and the snow fall was tremendous in most areas of the nation. Remember those pics of the folks in the Northeast shoveling out from all the snow even late into March?
Where do you go these days to buy fine stationery? With the use of email and faxes it seems the art of penmanship is lost or almost so and that receiving a handwritten letter for a family member or loved one will soon be a relic like the wall art in the ice age caves of southern France. Our grandkids will look at those old faded letters with their sepia tinge and think how quaint we were and how did we have the time to actually sit down and compose a written letter. Sad but I suppose it is not to be stopped. Well, not to worry we probably won’t have a post office to deliver them anyway.
“A little sleep, a little slumber, a little folding of the hands to rest, and poverty will come upon you like a robber.” Proverbs www.ocranky.wordpress.comlra