Felix Lloyd Powell (23 May 1878 – 10 February 1942) wrote the music for " Pack Up Your Troubles in Your Old Kit Bag and Smile, Smile, Smile", a WWI marching tune. It was regarded then as one of the the most optimistic songs ever written.
But the effect was lost on its creator. Powell committed suicide in 1942, shooting himself in the heart using his own rifle.
Monday, September 14, 2009
Enough
True story, Word of Honor:
Joseph Heller, an important and funny writer
now dead,
and I were at a party given by a billionaire
on Shelter Island.
I said, "Joe, how does it make you feel
to know that our host only yesteray
may have made more money
than your novel 'Catch-22'
has earned in its entire history?"
And Joe said, "I've got something he can never have."
And I said, "What on earth could that be, Joe?"
And Joe said, "The knowledge that I've got enough."
Not bad! Rest in peace.
Kurt Vonnegut, May, 2005, New Yorker
Joseph Heller, an important and funny writer
now dead,
and I were at a party given by a billionaire
on Shelter Island.
I said, "Joe, how does it make you feel
to know that our host only yesteray
may have made more money
than your novel 'Catch-22'
has earned in its entire history?"
And Joe said, "I've got something he can never have."
And I said, "What on earth could that be, Joe?"
And Joe said, "The knowledge that I've got enough."
Not bad! Rest in peace.
Kurt Vonnegut, May, 2005, New Yorker
Tuesday, September 01, 2009
Something Better Than The Internet Genie
"My son met her in an Internet café in Katmandu. Isn’t she beautiful?"
Indeed, she was.
Though I had met him on his lawn, just three minutes earlier, my new host had swept me and the wife up in a whirlwind and was now showing me around his home. His no. 1 pride and joy: pictures of his son, his new Nepalese wife, and their young children. His son is a freelance photographer living in Nepal. He was also extremely resourceful. He had made 7,500 bricks, by hand, and was about to begin construction on his new home.
Just as his dad, Nicholas Prokos, 75, my guerrilla host, before him. Nicholas had built his own home behind the dwelling he owned and rented out at 1698 First Street, Highland Park, Illinois, and we could see he loved to show off every immaculate, well-designed inch.
It was the last Sunday of August, 2009, and the huge and ever-expanding Port Clinton Art Fair was in full swing. The long string of exhibits ran south, right to his lawn, where he was showing his stoneware, and I struck up a conversation with him.
“They brought the fair to you,” I said.
“Why pay $700 for a booth!?!,” said the dapper older gentleman, attired in a spiffy new black golf vest. We chatted briefly, and within minutes he said, ‘come and see my house, it’s in the back, I built it myself.’
“When you say ‘built it myself….’,” I said.
“That’s right, with my own hands.”
So off we went.
The spry old gentleman was nothing if not handy – quite literally. A ceramics professor at Michigan, School of the Art Institute, Barat College, he made his living with his hands and teaching others to do likewise. At 75, (he appeared younger), he was now retired, and playing golf, when he wasn’t crafting magnificent stoneware.
Did he have a website? “No, I don’t need more work!,” he laughed. “I have to have time for my golf!”
His walls were decorated with arresting sketches and impressive art from his students over the years, some of whom he had stayed in contact with. A large fiber work hung over his dining room. He described in detail how it was made. Pictures of his family were all around.
He showed us the beautiful secluded patio, his kiln (“I built it myself.”)
Floored by his easygoing and natural-as-pie hospitality, I realized something:
I spend too much time on the Internet. Way too much. And too much time with the alphabet news teams: CNN, FOX, CNBC, HLN, and all the rest. Email is great. The web is great. But you begin to mistake it for face-to-face communication – which it’s not. You miss the inflection, the intent, the gesticulation, the enthusiasm, the….well…humanity.
Our host said he talks to his sons (another lives in N. Mexico, also a professional potter) on Skype all the time. We did the same with our daughter when she was studying in the Far East. It’s a marvel, a modern magic, and no one would ever willingly give it up. Not even my tennis friend who lives nearby, but insists on calling me and hitting me up for a chat on Skype. And our new friend’s son met his wife in an Internet café after all.
No -- the Internet genie is out of the bottle, and he’s not going back in.
But every once in a while, you have simply got to leave behind that apparition and choose, instead, to be with people. Especially people as warm, genuine and colorful as Dr. Nicholas Prokos, master builder, potter, and instant friend and host.
Indeed, she was.
Though I had met him on his lawn, just three minutes earlier, my new host had swept me and the wife up in a whirlwind and was now showing me around his home. His no. 1 pride and joy: pictures of his son, his new Nepalese wife, and their young children. His son is a freelance photographer living in Nepal. He was also extremely resourceful. He had made 7,500 bricks, by hand, and was about to begin construction on his new home.
Just as his dad, Nicholas Prokos, 75, my guerrilla host, before him. Nicholas had built his own home behind the dwelling he owned and rented out at 1698 First Street, Highland Park, Illinois, and we could see he loved to show off every immaculate, well-designed inch.
It was the last Sunday of August, 2009, and the huge and ever-expanding Port Clinton Art Fair was in full swing. The long string of exhibits ran south, right to his lawn, where he was showing his stoneware, and I struck up a conversation with him.
“They brought the fair to you,” I said.
“Why pay $700 for a booth!?!,” said the dapper older gentleman, attired in a spiffy new black golf vest. We chatted briefly, and within minutes he said, ‘come and see my house, it’s in the back, I built it myself.’
“When you say ‘built it myself….’,” I said.
“That’s right, with my own hands.”
So off we went.
The spry old gentleman was nothing if not handy – quite literally. A ceramics professor at Michigan, School of the Art Institute, Barat College, he made his living with his hands and teaching others to do likewise. At 75, (he appeared younger), he was now retired, and playing golf, when he wasn’t crafting magnificent stoneware.
Did he have a website? “No, I don’t need more work!,” he laughed. “I have to have time for my golf!”
His walls were decorated with arresting sketches and impressive art from his students over the years, some of whom he had stayed in contact with. A large fiber work hung over his dining room. He described in detail how it was made. Pictures of his family were all around.
He showed us the beautiful secluded patio, his kiln (“I built it myself.”)
Floored by his easygoing and natural-as-pie hospitality, I realized something:
I spend too much time on the Internet. Way too much. And too much time with the alphabet news teams: CNN, FOX, CNBC, HLN, and all the rest. Email is great. The web is great. But you begin to mistake it for face-to-face communication – which it’s not. You miss the inflection, the intent, the gesticulation, the enthusiasm, the….well…humanity.
Our host said he talks to his sons (another lives in N. Mexico, also a professional potter) on Skype all the time. We did the same with our daughter when she was studying in the Far East. It’s a marvel, a modern magic, and no one would ever willingly give it up. Not even my tennis friend who lives nearby, but insists on calling me and hitting me up for a chat on Skype. And our new friend’s son met his wife in an Internet café after all.
No -- the Internet genie is out of the bottle, and he’s not going back in.
But every once in a while, you have simply got to leave behind that apparition and choose, instead, to be with people. Especially people as warm, genuine and colorful as Dr. Nicholas Prokos, master builder, potter, and instant friend and host.
Wednesday, July 08, 2009
Fighting the good fight
Our friend John Terry has brought his new book to our attention:
Christian Martial Arts: The Passion, The Calling, The Journey: How To Effectively Incorporate Faith-Based Principles Into Your Martial Arts Practice.
Christian and martial arts, you say, isn't that a contradiction in terms? The author shows here that it's not. In today's society, predators seeks out children and women as victims; self-defense is no longer an option, but a must.
He de-bunks the myth that karate originates from Eastern mysticism. His chapter on marketing will make you think about how you can get your message out in less self-serving, more effective ways. In a day and time where "Christian" conveys "weak" to many, Terry provides a the antidote -- but in a caring, intelligent, spiritual way.
One caveat: this book may catalyze a desire to run out and sign up for a Christian martial arts class.
About the Author
John L. Terry, III is the founder and executive director of the Christian Martial Arts Council. He is an ordained minister, martial arts and self-defense instructor, and a “Kid-Safe” and “Women-Safe” community advocate. John holds a black belt in Okinawan Karate and Kenpo. He is both a member of, and has served on the boards of, several professional martial arts associations. John has a degree in Business from Arkansas Tech University and has been a sales and marketing consultant since 1988. Contact him directly at john@revelationfiles.com where he provides a daily email review of Bible prophecy topics.
Christian Martial Arts: The Passion, The Calling, The Journey: How To Effectively Incorporate Faith-Based Principles Into Your Martial Arts Practice.
Christian and martial arts, you say, isn't that a contradiction in terms? The author shows here that it's not. In today's society, predators seeks out children and women as victims; self-defense is no longer an option, but a must.
He de-bunks the myth that karate originates from Eastern mysticism. His chapter on marketing will make you think about how you can get your message out in less self-serving, more effective ways. In a day and time where "Christian" conveys "weak" to many, Terry provides a the antidote -- but in a caring, intelligent, spiritual way.
One caveat: this book may catalyze a desire to run out and sign up for a Christian martial arts class.
About the Author
John L. Terry, III is the founder and executive director of the Christian Martial Arts Council. He is an ordained minister, martial arts and self-defense instructor, and a “Kid-Safe” and “Women-Safe” community advocate. John holds a black belt in Okinawan Karate and Kenpo. He is both a member of, and has served on the boards of, several professional martial arts associations. John has a degree in Business from Arkansas Tech University and has been a sales and marketing consultant since 1988. Contact him directly at john@revelationfiles.com where he provides a daily email review of Bible prophecy topics.
Wednesday, March 11, 2009
New calculus: USA interest soon to = SS + Med + Defense
What is the cost of the "stimulus package," the deficit spending to break the Greater Recession? In just four short years, author C.H. Smith paints a scenario in which the interest the US pays on its debt will equal the payments it makes for Social Security, Medicare and Defense.
He calls it the Road to National Insolvency. Surely a must read. What to do? Start with a visit to IOUSA, watch the 30 minute film, write your representatives.
He calls it the Road to National Insolvency. Surely a must read. What to do? Start with a visit to IOUSA, watch the 30 minute film, write your representatives.
Wednesday, January 14, 2009
Tuesday, January 06, 2009
Financial meltdown catalyzes suicides
German billionaire Merckel
Frenchman and investor Thierry Magon de la Villehuchet
And, more recently, an attempted suicide by Marcus Shrenker.
Even if they didn’t opt for the ultimate and most permanent of solutions, like Messrs. Merckle and Villehuchet, with the SP500 down almost half in 2008, the average investor and/or 401K holder was feeling plenty blue as 2008 wound down.
Small consolation, but things have also been as tough, sometimes much tougher, percentage-wise, for other legends of business and finance. It appears none will miss lunch, as a result, but still, they felt the cold slap of ignominy right in the chops, along with all the other “long term” investors. For many, the blow is coming at the end of a long and illustrious career.
Even the “Babe Ruth” of investing was not immune.
Warren Buffett, 78, and his Berkshire Hathaway stock did not escape from the meltdown. The stock declined from approximately $151,000 per share, to $74,100 at its low ($99,700 per at this writing). That doesn’t make him particularly unique in an environment when the SP lost half its value. The strange twist here is that the creator of the phrase “derivatives….weapons of financial mass destruction” himself was an avid participant in the options market, generating a loss of an estimated $3.7 billion. He sold LEAP puts on some $37 billion of equities with maturities ranging from 2019 to 2027 – exercisable only at maturity, not before.
Maybe it’s a clever strategy to sell puts for a time in the future when you may or may not be around, but still, they get marked to market, and have apparently created a real short term difficulty. Some opine that this is the reason Berkshire invested in Goldman Sachs, the broker for this transaction. Goldman counterparties were concerned about their counterparty risk, the thinking here goes, and demanded more collateral in case of continued stock decline (even though the original bet did not require any collateral due to the seemingly impregnable state of BRK finances, impregnable to this point, at least). As a result, Berkshire Hathaway credit default swap rates climbed to five full points, from one-half point earlier in the year. Could the decline in stocks last a decade or more?
Sheldon Adelson, developer of the Las Vegas Sands, injected some $525 million of his own funds to keep his gambling empire from defaulting on its debt and going into bankruptcy. Additionally, he converted $475 million in convertible notes into common stock. To raise another billion, he more than doubled the number of shares outstanding, sold them at $6, and massively diluted the holdings of existing shareholders. That left him with 51% of the company, versus an earlier 69%. At the time of the announcement, the stock had traded down from $145 to the $4s over a 12 month period. As recently as Sept. 2007, he was the Forbes No. 3, with an estimated net worth of $28 billion. At this writing, with a stock price of some $5.50, market cap for LVS was approximately $2 billion; Adelson’s half worth now just $1 billion, a loss of $27 billion in one year.
Kirk Kerkorian, 91, saw his MGM Mirage stake fall in value from $14 billion to $2 billion, a loss of $12 billion. The company owns approximately half the rooms on the Las Vegas strip. Additionally, he is selling his $1 billion stake in Ford (6.4% of the co.) for 2/3rds less, a loss of $700 million since the summer. He bought the shares because the company had a good quarter earlier in the year and he had confidence in the Ford CEO Alan Mulally. Kerkorian reportedly told friends recently that he had “lived one year too long.” Kerkorian was No. 27 on the Forbes 400 when his net worth was listed at $11.2 billion.
Sumner Redstone, 85, via his holding company National Amusements sold some $233 million of stock in Viacom and CBS after he breached a $1.6 billion loan provision which catalyzed a margin call from lenders. As recently as early October, the shares were worth $420 million, creating a paper loss of $187 million. Few knew he had so much debt, and fewer still that it was tied to stock values at CBS and Viacom. Additionally, his 25-year investment in a video game maker, Midway Games (and its predecessor), has cost him between $500 and $700 million, according to one analyst. Midway makes the game Mortal Kombat; it hasn’t been profitable since Q2 2000. Over the past three years alone, it has lost $258.9 million in operations. In 2005, shares in Midway were $23; recently, they sold for less than one dollar. Redstone’s life has been described as a soap opera, with turbulent divorces (including one now in real time), estrangements from his daughter and son, and employees, including the likes of Tom Cruise, who he excoriated in the media after his erratic behavior on various high profile media outlets. Some speculate Redstone could lose control of his media empire, but the octogenarian has already survived worse: the protagonist once saved his life during a hotel fire by crawling out on a ledge until help arrived. He underwent 30 hours of surgery, and was not expected to survive. He was 56. He did indeed survive. On Nov. 11, Redstone told media he promised to forego any further sales of CBS or Viacom stock. Analysts weren’t so sure; some said the situation may be beyond his control. The Harvard graduate was recently No. 25 on the Forbes 400.
Aubrey K. McClendon, Chesapeake Energy Corp.’s CEO, was forced by a margin call to sell most of his shares in his firm. He received some $620 million for shares that earlier in the year were worth $2.3 billion: loss: $1.68 billion. In October, 2008 published a press release that said he had "involuntarily sold substantially all of his shares of Chesapeake common stock over the past three days in order to meet margin loan call." It went on to say: “I am very disappointed to have been required to sell substantially all of my shares of Chesapeake. These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis. In no way do these sales reflect my view of the company's financial position or my view of Chesapeake's future performance potential. I have been the company's largest individual shareholder for the past three years and frequently purchased additional shares of stock on margin as an expression of my complete confidence in the value of the company's strategy and assets. My confidence in Chesapeake remains undiminished, and I look forward to rebuilding my ownership position in the company in the months and years ahead." He was recently No. 134 on the Forbes 400.
Iceland’s former billionaire, Gjorgolfur Gudmundsson, 67, with his son, owned a large stake in Landsbanki. One year ago, the stake was worth $3.1 billion. Now, zero. His son, Thor, 41, had a net worth three times that of his father as of March, 2008. But in October, 2008, his investment firm had to sell a stake in a Finnish telecom for $310 million to pay debts. He still had stakes, however, in a Polish telecom group, and an Icelandic generic drug firm.
Three Russian oligarchs felt the pinch, too. Oleg Deripaska, Alisher Usmanov, and Kostyantin Zhevago, lost $600 million, $2.1 billion and and $515 million, respectively.
The aforementioned luminaries were captains of industry, builders of corporations. Even though their losses are staggering, breathtaking, none may be described as “plungers,” like the spectacular speculator from the 1920s and 1930s, Jesse Livermore, on whom the famous Reminiscences of a Stock Operator was modeled.
Now, unfortunately, some are meeting his same fate.
After surviving those tumultuous decades, and making and losing several fortunes, Livermore, 63, suffering from depression, ended it all with a shot to the head in the cloakroom of New York’s Sherry Netherland Hotel in 1940. He left an eight-page suicide note
(“My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”).
Strangely to some, he left behind approximately $5 million in capital which was apparently tied up in trusts and cash. In the final analysis, it’s all “left behind,” some point out. With that thought in mind, suffice to say, no necessary motivation to hasten the process oneself. It will happen, all by itself, and soon enough......
Frenchman and investor Thierry Magon de la Villehuchet
And, more recently, an attempted suicide by Marcus Shrenker.
Even if they didn’t opt for the ultimate and most permanent of solutions, like Messrs. Merckle and Villehuchet, with the SP500 down almost half in 2008, the average investor and/or 401K holder was feeling plenty blue as 2008 wound down.
Small consolation, but things have also been as tough, sometimes much tougher, percentage-wise, for other legends of business and finance. It appears none will miss lunch, as a result, but still, they felt the cold slap of ignominy right in the chops, along with all the other “long term” investors. For many, the blow is coming at the end of a long and illustrious career.
Even the “Babe Ruth” of investing was not immune.
Warren Buffett, 78, and his Berkshire Hathaway stock did not escape from the meltdown. The stock declined from approximately $151,000 per share, to $74,100 at its low ($99,700 per at this writing). That doesn’t make him particularly unique in an environment when the SP lost half its value. The strange twist here is that the creator of the phrase “derivatives….weapons of financial mass destruction” himself was an avid participant in the options market, generating a loss of an estimated $3.7 billion. He sold LEAP puts on some $37 billion of equities with maturities ranging from 2019 to 2027 – exercisable only at maturity, not before.
Maybe it’s a clever strategy to sell puts for a time in the future when you may or may not be around, but still, they get marked to market, and have apparently created a real short term difficulty. Some opine that this is the reason Berkshire invested in Goldman Sachs, the broker for this transaction. Goldman counterparties were concerned about their counterparty risk, the thinking here goes, and demanded more collateral in case of continued stock decline (even though the original bet did not require any collateral due to the seemingly impregnable state of BRK finances, impregnable to this point, at least). As a result, Berkshire Hathaway credit default swap rates climbed to five full points, from one-half point earlier in the year. Could the decline in stocks last a decade or more?
Sheldon Adelson, developer of the Las Vegas Sands, injected some $525 million of his own funds to keep his gambling empire from defaulting on its debt and going into bankruptcy. Additionally, he converted $475 million in convertible notes into common stock. To raise another billion, he more than doubled the number of shares outstanding, sold them at $6, and massively diluted the holdings of existing shareholders. That left him with 51% of the company, versus an earlier 69%. At the time of the announcement, the stock had traded down from $145 to the $4s over a 12 month period. As recently as Sept. 2007, he was the Forbes No. 3, with an estimated net worth of $28 billion. At this writing, with a stock price of some $5.50, market cap for LVS was approximately $2 billion; Adelson’s half worth now just $1 billion, a loss of $27 billion in one year.
Kirk Kerkorian, 91, saw his MGM Mirage stake fall in value from $14 billion to $2 billion, a loss of $12 billion. The company owns approximately half the rooms on the Las Vegas strip. Additionally, he is selling his $1 billion stake in Ford (6.4% of the co.) for 2/3rds less, a loss of $700 million since the summer. He bought the shares because the company had a good quarter earlier in the year and he had confidence in the Ford CEO Alan Mulally. Kerkorian reportedly told friends recently that he had “lived one year too long.” Kerkorian was No. 27 on the Forbes 400 when his net worth was listed at $11.2 billion.
Sumner Redstone, 85, via his holding company National Amusements sold some $233 million of stock in Viacom and CBS after he breached a $1.6 billion loan provision which catalyzed a margin call from lenders. As recently as early October, the shares were worth $420 million, creating a paper loss of $187 million. Few knew he had so much debt, and fewer still that it was tied to stock values at CBS and Viacom. Additionally, his 25-year investment in a video game maker, Midway Games (and its predecessor), has cost him between $500 and $700 million, according to one analyst. Midway makes the game Mortal Kombat; it hasn’t been profitable since Q2 2000. Over the past three years alone, it has lost $258.9 million in operations. In 2005, shares in Midway were $23; recently, they sold for less than one dollar. Redstone’s life has been described as a soap opera, with turbulent divorces (including one now in real time), estrangements from his daughter and son, and employees, including the likes of Tom Cruise, who he excoriated in the media after his erratic behavior on various high profile media outlets. Some speculate Redstone could lose control of his media empire, but the octogenarian has already survived worse: the protagonist once saved his life during a hotel fire by crawling out on a ledge until help arrived. He underwent 30 hours of surgery, and was not expected to survive. He was 56. He did indeed survive. On Nov. 11, Redstone told media he promised to forego any further sales of CBS or Viacom stock. Analysts weren’t so sure; some said the situation may be beyond his control. The Harvard graduate was recently No. 25 on the Forbes 400.
Aubrey K. McClendon, Chesapeake Energy Corp.’s CEO, was forced by a margin call to sell most of his shares in his firm. He received some $620 million for shares that earlier in the year were worth $2.3 billion: loss: $1.68 billion. In October, 2008 published a press release that said he had "involuntarily sold substantially all of his shares of Chesapeake common stock over the past three days in order to meet margin loan call." It went on to say: “I am very disappointed to have been required to sell substantially all of my shares of Chesapeake. These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis. In no way do these sales reflect my view of the company's financial position or my view of Chesapeake's future performance potential. I have been the company's largest individual shareholder for the past three years and frequently purchased additional shares of stock on margin as an expression of my complete confidence in the value of the company's strategy and assets. My confidence in Chesapeake remains undiminished, and I look forward to rebuilding my ownership position in the company in the months and years ahead." He was recently No. 134 on the Forbes 400.
Iceland’s former billionaire, Gjorgolfur Gudmundsson, 67, with his son, owned a large stake in Landsbanki. One year ago, the stake was worth $3.1 billion. Now, zero. His son, Thor, 41, had a net worth three times that of his father as of March, 2008. But in October, 2008, his investment firm had to sell a stake in a Finnish telecom for $310 million to pay debts. He still had stakes, however, in a Polish telecom group, and an Icelandic generic drug firm.
Three Russian oligarchs felt the pinch, too. Oleg Deripaska, Alisher Usmanov, and Kostyantin Zhevago, lost $600 million, $2.1 billion and and $515 million, respectively.
The aforementioned luminaries were captains of industry, builders of corporations. Even though their losses are staggering, breathtaking, none may be described as “plungers,” like the spectacular speculator from the 1920s and 1930s, Jesse Livermore, on whom the famous Reminiscences of a Stock Operator was modeled.
Now, unfortunately, some are meeting his same fate.
After surviving those tumultuous decades, and making and losing several fortunes, Livermore, 63, suffering from depression, ended it all with a shot to the head in the cloakroom of New York’s Sherry Netherland Hotel in 1940. He left an eight-page suicide note
(“My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”).
Strangely to some, he left behind approximately $5 million in capital which was apparently tied up in trusts and cash. In the final analysis, it’s all “left behind,” some point out. With that thought in mind, suffice to say, no necessary motivation to hasten the process oneself. It will happen, all by itself, and soon enough......
Byron Wien: $1200 gold for 2009
WESTPORT, Conn. - (Business Wire) Byron R. Wien, Chief Investment Strategist of Pequot Capital Management, Inc., today issued his list of Ten Surprises for 2009. Mr. Wien has issued his economic, financial market and political surprises annually since 1986. The 2009 list follows:
1. The Standard and Poor’s 500 rises to 1200. In anticipation of a second-half recovery in the U.S. economy, the market improves from a base of investor despondency and hedge fund and mutual fund withdrawals. The mantra changes from “fortunes have been lost” to “fortunes can still be made.” Higher quality corporate bonds, leveraged loans and mortgages lead the way.
2. Gold rises to $1,200 per ounce. Heavy buying by Middle Eastern investors and a worldwide disenchantment with paper currencies drive the price of precious metals higher. In a time of uncertainty, investors want something they can count on as real.
Monday, January 05, 2009
Preacher sees $1900 in 2009, socialism, Soviet moves, and more
Pat Robertson makes his annual predictions.
Wednesday, December 31, 2008
No more USA?
A Russian analyst predicts the USA will soon split up into regions.Unimaginable only weeks ago, could the profligate ways and bankruptcies of our federal, state governments, plus banks, auto companies, homeowners, etc. etc. etc. bring this result?
Is this why there is no mention of the USA in Bible prophecy? Must read
A thoughtful quote
Jean Baudrillard, Cool Memories
If parapsychological or extraterrestrial phenomena were genuine, or even merely plausible, one ought to devote oneself to them entirely, wasting not a single moment. I cannot understand how one could waste even a second on other matters. But this also holds for science. If science is what it is, and truth is what it claims to be, they are worthy of a radical passion. Now, nothing like this actually happens. Not only the masses, but scientists themselves only devote themselves to it half-heartedly. We only feel a relative passion, a casual commitment for truth, the same as we feel for irrational phenomena. Only the suspense of science can rouse a sudden interest, but that is the passion for suspense. It is aroused today by the fact that even scientists acknowledge there are no final answers in science.
If parapsychological or extraterrestrial phenomena were genuine, or even merely plausible, one ought to devote oneself to them entirely, wasting not a single moment. I cannot understand how one could waste even a second on other matters. But this also holds for science. If science is what it is, and truth is what it claims to be, they are worthy of a radical passion. Now, nothing like this actually happens. Not only the masses, but scientists themselves only devote themselves to it half-heartedly. We only feel a relative passion, a casual commitment for truth, the same as we feel for irrational phenomena. Only the suspense of science can rouse a sudden interest, but that is the passion for suspense. It is aroused today by the fact that even scientists acknowledge there are no final answers in science.
Thursday, December 18, 2008
Friday, December 12, 2008
Auto writer sees 'end of the world' (as we know it, at least) in 2009
One man's view. Calls one new modeal an "adequate way to drive to hell." What do you think? Comments, please.
Wednesday, December 03, 2008
Thomas Merton on vision, end point of the Christian faith
If it were a matter of choosing between “contemplation” and “eschatology,” there is no question that I am, and would always be, committed entirely to the latter. Here in the hermitage, returning necessarily to beginnings, I know where my beginning was: having the Name and Godhead of Christ preached in Corpus Christi Church. I heard and believed. I believe that he has called me freely, out of pure mercy, to His love and salvation and that at the end (to which all is directed by Him) I shall see Him after I have put off my body in death and have risen together with Him. That at the last day “all flesh shall truly see the salvation of God.” What this means is that my faith is an eschatological faith, not merely a means of penetrating the mystery of the divine presence and resting in Him now. Yet because my faith is eschatological, it is also contemplative, for I am even now in the Kingdom and I can even now “see” something of the glory of the kingdom and praise Him who is King. I would be foolish then if I lived blindly, putting all “seeing” off until some imagined fulfillment (for my present seeing is the beginning of a real and unimaginable fulfillment!). Thus contemplation and eschatology are one in Christian faith and in surrender to Christ. They complete each other and intensify each other. It is by contemplation and love that I can best prepare myself for the eschatological Vision – and best help the Church and all men to journey toward it.The union of contemplation and eschatology is clear in the gift of the Holy Spirit. In Him we are awakened to know the Father, because in Him we are refashioned in the likeness of the Son. It is in this likeness that the Spirit will bring us at last to the clear vision of the invisible Father in the Son's glory, which will also be our glory. Meanwhile, it is the Spirit who awakens in our heart the faith and hope in which we cry for the eschatological fulfillment and vision. In this hope there is already a beginning, a "promise" of fulfillment. This is our contemplation: the realization and "experience" of the life-giving Spirit in Whom the Father is present to us through the Son, our way, truth, and life. The realization that we are on our way, that because we are on our way we are in that Truth, which is the end and by which we are already fully and eternally alive. Contemplation is the loving sense of this life and this presence and this eternity.
Thomas Merton
Best selling author, Catholic monk, hermit
Journal entry, December 22, 1964
From The Intimate Merton: his life from his journals
Tuesday, November 25, 2008
The next ten years, 2008 to 2018, what does the future hold?
Here is a most thought-provoking article from Jack Kelley. It is highly speculative, but at the same time, mind-expanding. What do you think of it?
Wednesday, September 03, 2008
Nothing new under the sun
The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance. --Cicero, 55 BC
Thursday, December 27, 2007
Friday, October 26, 2007
Connecting the dots
America, Iran, the dollar, international finance, Bible prophecy, America in Bible prophecy question, etc.
Superb essay. Recommended.
Superb essay. Recommended.
Timing is, indeed, problematical
The Federal Reserve Board is working to raise the inflation rate while the U.S. Treasury is trying to talk down the dollar exchange rate. Not every day does the world's hegemonic power pursue a policy of currency debasement. Still less frequently does it have the courtesy to tell its creditors what it's doing to them.
More....by James Grant.
More....by James Grant.
Thursday, October 25, 2007
Jim Rogers Shifts Assets
Out of Dollar to Buy Yuan
Oct. 24 (Bloomberg) -- Jim Rogers, chairman of Beeland Interests Inc., said he is shifting all his assets out of the dollar and buying Chinese yuan because the Federal Reserve has eroded the value of the U.S. currency.
``I'm in the process of -- I hope in the next few months -- getting all of my assets out of U.S. dollars,'' said Rogers, 65, who correctly predicted the commodities rally in 1999. ``I'm that pessimistic about what's happening in the U.S.''
Rogers, delivering a presentation late yesterday at an investors' meeting organized by ABN Amro Markets in Amsterdam, said he expects the Chinese currency to quadruple in the next decade and that he is holding on to commodities such as platinum, gold, silver and palladium.
More...
``I'm in the process of -- I hope in the next few months -- getting all of my assets out of U.S. dollars,'' said Rogers, 65, who correctly predicted the commodities rally in 1999. ``I'm that pessimistic about what's happening in the U.S.''
Rogers, delivering a presentation late yesterday at an investors' meeting organized by ABN Amro Markets in Amsterdam, said he expects the Chinese currency to quadruple in the next decade and that he is holding on to commodities such as platinum, gold, silver and palladium.
More...
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