When the irrational is considered rational - Opinion - Al Jazeera English
The Lake Wobegon Effect rules on Wall Street as a viral irrationality prevails. In the words of Mark Twain, "Why should truth be stranger than fiction? Fiction has to make sense." Wall Street does not as it drives the bus over the cliff with Americans in the front seat and the rest of the globe right behind.
Friday, August 19, 2011
Gettysburg Address Revisited
Folklore has it that Abraham Lincoln penned the Gettysburg address on a napkin or scrap of paper while en route to the site of this now famous masterpiece of oratory. I think we can all agree that he did a pretty good job of it that day, in a hurry, under incredible stress from the Civil War and all the attendant problems associated with it. He was also facing some rough weather politically during the struggle, from both sides of the aisle and both sides of the not-yet-established Mason-Dixon line.
But he kept his eyes on the goal, and lifted his thinking above the fray that day. He inspires us even now, if we will revisit the address and apply what he's saying to the troubles our country faces today.
The Gettysburg Address
Fourscore and seven years ago our fathers brought forth upon this continent a new nation, conceived in liberty, and dedicated to the proposition that all men are created equal. Now we are engaged in a great civil war, testing whether that nation, or any nation so conceived and so dedicated, can long endure. We are met on a great battlefield of that war. We have come to dedicate a portion of that field as a final resting-place for those here who gave their lives that that nation might live. It is altogether fitting and proper that we should do this. But in a larger sense we cannot dedicate, we cannot consecrate, we cannot hallow this ground. The brave men, living and dead, who struggled here, have consecrated it far above our poor power to add or detract. The world will little note, nor long remember, what we say here; It is for us, the living, rather to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us, that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion; that we here highly resolve that these dead shall not have died in vain; that this nation, under God, shall have a new birth of freedom, and that government of the people, by the people, and for the people, shall not perish from the earth.
November 19, 1863
But he kept his eyes on the goal, and lifted his thinking above the fray that day. He inspires us even now, if we will revisit the address and apply what he's saying to the troubles our country faces today.
The Gettysburg Address
Fourscore and seven years ago our fathers brought forth upon this continent a new nation, conceived in liberty, and dedicated to the proposition that all men are created equal. Now we are engaged in a great civil war, testing whether that nation, or any nation so conceived and so dedicated, can long endure. We are met on a great battlefield of that war. We have come to dedicate a portion of that field as a final resting-place for those here who gave their lives that that nation might live. It is altogether fitting and proper that we should do this. But in a larger sense we cannot dedicate, we cannot consecrate, we cannot hallow this ground. The brave men, living and dead, who struggled here, have consecrated it far above our poor power to add or detract. The world will little note, nor long remember, what we say here; It is for us, the living, rather to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us, that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion; that we here highly resolve that these dead shall not have died in vain; that this nation, under God, shall have a new birth of freedom, and that government of the people, by the people, and for the people, shall not perish from the earth.
November 19, 1863
Working on a Dream -- In These Times
Working on a Dream -- In These Times An inspiring account of overcoming adversity and working for the common good. In the words of Winston Churchill, "Never, Never, Never give up!"
Dismal Week on Wall Street (Again)
Dow closed down 175 points today, not surprising after all of the data and opinions coming from every corner of the globe. Governments are out of policy options at this point, so markets are on their own to clean up this mess if they can, as all of the adults have left the room. Or they have used up their bag of tricks. Either way, this is what they wanted, a total absence of any regulatory power or effective policy mandates, so this is what they get. The problem is, now they are in trouble and are whining for government leadership and structural change. This is lassez-faire economics in action, even if not intentionally, so we are in for the ride of our lives.
All economic trends and indicators that I have read today point to no bottom in sight for markets, continued slide into the double-dip as some are calling it, although in reality it is the Second Great Contraction. The first was the Great Depression of 1920s-1930s. Deflation is occurring here in the US and Europe, and others are in line with or behind us. Japan was actually experiencing it before we did. China is dealing wit their own but different macroeconomic problems. All markets are wondering which way to go and nobody has good answers.
Unpredictable is the operative word for this week and into the foreseeable future. Just do not get your hopes up for miraculous improvements in the economy anytime soon, meaning the next few years. The best thing that you can do is to get informed as quickly as possible and keep your ear to the ground on all things economic, political, and social. If you don't like the way things are going, you need to get informed and get involved. One sure way is to vote intelligently at every opportunity.
All economic trends and indicators that I have read today point to no bottom in sight for markets, continued slide into the double-dip as some are calling it, although in reality it is the Second Great Contraction. The first was the Great Depression of 1920s-1930s. Deflation is occurring here in the US and Europe, and others are in line with or behind us. Japan was actually experiencing it before we did. China is dealing wit their own but different macroeconomic problems. All markets are wondering which way to go and nobody has good answers.
Unpredictable is the operative word for this week and into the foreseeable future. Just do not get your hopes up for miraculous improvements in the economy anytime soon, meaning the next few years. The best thing that you can do is to get informed as quickly as possible and keep your ear to the ground on all things economic, political, and social. If you don't like the way things are going, you need to get informed and get involved. One sure way is to vote intelligently at every opportunity.
Whether They Deserve It Or Not
Much of the discourse lately revolves around a fundamental question of merit. Who deserves what? Does the US deserve social and economic decline? Does the Horn of Africa deserve warfare, drought, famine? Does Europe merit disintegration? Does China qualify as the next great superpower? Do poor people deserve to be poor, and the rich to be rich? Who exactly is responsible for what? And if we find them guilty, should they pay the penalty, and should we cheer at their misery when they suffer?
Forrest Gump wonders his whole life whether life is by chance or by choice, and at the end of the movie, he concludes that "it is a little bit of both." Each day brings new opportunities and choices, and at each crossroads one is obliged to choose which path to take. How can we know all the reasons for our own decisions, let alone someone else's?
We can and should learn from our "mistakes." Who decides whether each choice is right or wrong, and should we make that judgment for others? It is difficult enough to judge ourselves, to determine the correct path to take at each moment. How can I possibly take the responsibility for making judgments on my neighbor, when I can barely keep up with myself?
Christ admonishes us, "Judge not, lest you be judged. With the same measure that you judge, it will be meted out to you, shaken, pressed down, overflowing and abundant. After it is all said and done, we must love our neighbor as ourselves, forgiving any perceived wrong. We must show mercy and compassion, and offer a helping hand. Only then can I be right with myself and fellow man, and most especially God. Forgiveness. Mercy. Justice.
Forrest Gump wonders his whole life whether life is by chance or by choice, and at the end of the movie, he concludes that "it is a little bit of both." Each day brings new opportunities and choices, and at each crossroads one is obliged to choose which path to take. How can we know all the reasons for our own decisions, let alone someone else's?
We can and should learn from our "mistakes." Who decides whether each choice is right or wrong, and should we make that judgment for others? It is difficult enough to judge ourselves, to determine the correct path to take at each moment. How can I possibly take the responsibility for making judgments on my neighbor, when I can barely keep up with myself?
Christ admonishes us, "Judge not, lest you be judged. With the same measure that you judge, it will be meted out to you, shaken, pressed down, overflowing and abundant. After it is all said and done, we must love our neighbor as ourselves, forgiving any perceived wrong. We must show mercy and compassion, and offer a helping hand. Only then can I be right with myself and fellow man, and most especially God. Forgiveness. Mercy. Justice.
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