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Independence Day
...The name was changed to August in honor of Augustus Caesar, the first emperor of Rome, on account of his victories...
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8-24-2002Ponzi
Reader Geoff S. from OZ down under writes:

Has it occurred to anyone that Healthy Companies ( other than financial institutions ) do NOT need to keep issuing bonds / notes / debentures, unless they are planning a takeover / expansion??

Seems to me, Michael, that the miriad of US Corps who have issued bonds, etc in the past 8 Months, are living on the bones of their arse and playing the government game of issuing new debt to pay off, old debt.

What ever happened to the old fashioned corporation, that built up asset backing through sheer hard work and was rewarded with share price increases? They used to issue bonds, etc. to expand and then PAY IT BACK when the business grew.

Seems to me that this smoke & mirrors bullsh*t, of EARNINGS / quarter, has blinded people into thinking that their Corp is strong and has a solid base, when they might just be paper-shuffling.
8-15-2002Cracks appear
I found this as a news brief on Bigcharts.com, posted at 1:09pm, on August 15th:

Housing market index softens in August by Rex Nutting
Conditions in the housing market softened in August, according to a monthly survey of home builders released Thursday. The National Association of Home Builders said its monthly market index fell to 57 from 61 in July, the lowest reading of the year. Readings over 50 indicate that most builders see favorable conditions. The index of single-family home sales fell to 61 from 65, expectations fell to 67 from 69 and traffic fell to 43 from 48. Home sales have been near record levels this year.

Bottom of the Page.

I didn't see it mentioned anywhere else.
***
8-13-2002Incantation
inĚcanĚtaĚtion — n.
1. Ritual recitation of verbal charms or spells to produce a magic effect.
2. a. A formula used in ritual recitation; a verbal charm or spell.
    b. A conventionalized utterance repeated without thought or aptness; a formula:
    the pious incantations of the administration.

e.g. ``The fundamentals of our economy, I continue to believe, are sound,'' Treasury Secretary Paul O'Neill said today. ``As I travel around and talk to people in communities, I find people are more calm than one would assume.''

Editor: Should one assume that they be panicking? See for yourself
8-4-2002New World Order

Is this the New World Order?

The current administration is full of former CEOs, and other strange things.
  • The elder Bush was head of the CIA, and son is installed in the office of the Presidency.
  • The younger Bush was head of Harken Engergy
  • Colin Powell sits on the board of AOLTimeWarner, while his son is the head of the FCC
  • Treasury Secretary Paul O'Neill was CEO of Alcoa
  • Defense Chief Rumsfeld was CEO of Searle and General Instrument
  • Commerce Sec'y Don Evans headed Tom Brown, an energy services firm
  • Labor Sec'y Elaine Chao was CEO of the United Way.
Translated from Latin, The Great Seal of the United States, says "God hath blessed this undertaking" and "New World Order." Is this the NWO which is referred to on our dollar bills, or is God not yet finished?
8-3-2002Twilight
Nothing is quite so wretchedly corrupt as an aristocracy which has lost its power but kept its wealth and which still has endless leisure to devote to nothing but banal enjoyments. All its great thoughts and passionate energy are things of the past, and nothing but a host of petty, gnawing vices now cling to it like worms to a corpse.

— Alexis de Tocqueville

* * *

The sunset colors of a civilization are the most lovely.

— John Strachey

8-2-2002Blowing in the wind
Economist In the Wind
(sung to the tune of Elton John's Candle in the Wind)
by Karen De Coster,


Goodbye J.M. Keynes
Though I never worshipped you at all
You chose to make a King of yourself
While those around you crawled
They crawled out of the government
And they whispered into your brain
They complimented you on deficits
And you said savings were to blame
And it seems to me you lived your life
Like an economist in the wind
Never knowing what to cling to
When inflation and unemployment set in
I wouldn't have liked to've known you
And I was not yet conceived
Your theories burned out long before
You got them Austrians peeved.
The General Theory stunk
The stinkiest arguments you ever made
The Leftists created a superstar
And the "Multiplier" was the price you paid
Even when you died
They all still worshipped you
All the academics had to say
Was that "Keynes was one brilliant dude"
Goodbye J.M. Keynes
Though I never worshipped you at all
You chose to make a King of yourself
While those around you crawled
Goodbye J. M. Keynes
From the kindred souls in the MIT Grad school
Who see you as something more than a fallacy
More than just an ignorant fool
8-1-2002Was it not right?



The cover of the May 28, 2002 issue of the World Weekly News.
Stock market crash by July, it said. Hmmm...
7-1-2002Reflection                                                                                                                   
Rights are merely the flip side of Responsibilities.

in other words...
"The price of Liberty is eternal vigilance."
— Thomas Jefferson
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