Climb

Climb every Mountain

     Ford every Stream

   Follow every 

 

        Rainbow

 Till you find

              your 

                

                 Dream         

Dad and Son

Son--Dad, I need $10.

Dad--What for ?

Son--I want to buy a guinea pig.

Dad--Here's $20. Buy a good looking Irish girl instead.     

But...

Well Poo-Paw has now won 8 straight sports bets

but...

another float came to Vegas. Poker player, grew to $400 million winnings in private games  here in 4 yrs. Then the fish would no longer play with him in poker. So then he went to craps. Lost 200  m. Then to baccaret

From 400 m to bust in 3 yrs.

Lots of stories of Vegas that I've not given. Too involved with the studies of our next TITANIC.

Searching for a seat on a promised life boat.

My gpa from my Mother's side was a farmer in western Iowa, Shelby IA. He was known as "Doc"

The 7th son was to be a Doctor. He was the 7th son of a 13 litter.

The swirling skies in June opened into swelter. Doc Best hollered from the barn to Emma, BRING ME MY HAT !!

He waited.

And waited.

Emma  finally shows up pulling an old horse which she had to chase down and bridle. 

Doc shouted, I SAID BRING ME HAT-NOT OLD PAT !!

How to make comments to a blog

At the end of a blog entry, there is a tab that says "comment".  Click here and the page will display a space to type in your comment.  Then you will be required to do a word verification. Next, if you do not have a google account, you will need to sign up and create a username and password.  Sara uses her comcast email account as her login and enters a password.  Then you may post the comment to the blog entry. 

Comments are appreciated!!!

Thanks.

Poo-paw

Trillion

How many years are there in one trillion seconds ??

Over 31,000 years.

The last ice age ended 10,000 years ago.

Our federal govt expects over one trillion dollars of red ink next year.

"One of these nights..."

Saw a group playing old Eagles songs at the 'Coast. I've had this double folded C bill in my wallet for a few years. It was to be a reserve in case I engaged in a craps game.  Typical start would be $120 at a $2 min table, a stack of $5 and a stack of $1 chips.

As we were leaving the Eagles concert we walked by some craps tables and I said to Billie, "I'm going to play that hunnert". I put it down in front of the dealer, said "60 on 6 and 40 come". The stick man said "bet",indicating that my money was alive on the next roll.

On the 6, every 6 rolled pays me $70 each time. I lose my $60 when a 7 is thrown.

On the come, a 2 (snake eyes) a 3 or a 12 (box cars), rolled on the 1st throw loses my $40 bet.  

A 7 or 11 wins, pays me my $40 and keeps my original bet alive.

A 4-5-6-8-9-10 throw goes from the come to the number thrown and has to repeat before a 7 is thrown to win.

I can't see the shooter-he's at the other end- but within a second the two dice go flying by. BOXCARS my $40 is picked up by the dealer. The stickman, sitting at the middle of the table gathers the dice and scoots them down to the shooter. He shoots. SEVEN my $60 is gone and I'm broke on two throws. A  12-7 combo happens once in 216 times.

But "One of these nights..."

The Aftermath of Financial Crises

There are real differences between normal business-cycle recessions and a recession brought on by a financial crisis. The latter are much more severe. Sadly, we are in the latter type.

From Reinhart and Rogoff "...Broadly speaking, financial crises are protracted affairs. More often than not, the aftermath of severe financial affairs share three characteristics. FIRST, asset market collapses are deep and prolonged. Real housing price declines average 35 percent stretched out over six years, while equity price collapses average 55 percent over a downturn of about three and a half years. SECOND, the aftermath of banking crises is associated with profound declines on output and employment. The unemployment rate rises an average of 7 percentage points over the down phase of the cycle, which lasts on average over four years. Output falls (from peak to trough) an average of over 9 percent, although the duration of the downturn,  averaging roughly two years, is considerably shorter than for unemployment. THIRD, the real value of government debt tends to explode, rising an average of 86 percent in the major post-World War 2 episodes.

Interestingly, the main cause of debt explosions is not the widely cited costs of bailing out and recapitalizing the banking system. ...In fact, the big drivers of debt increases are the inevitable collapse in tax revenues that governments suffer..."

Happy New Year

The Iowa So Carolina bowl game started @ 8 AM here on DVR. It was a complete skunk for Iowa. Billie and I went to the Iowa- Wash  Rose Bowl, had to sit in the Wash section with scalped tickets. Iowa was a small fav, but when I saw them come on the field I knew we were doomed. Ended 28 zip but could as easily been anything zip. We were redeemed today as Iowa Hawks outplayed the Gamecocks from A to T.

Suppose there was one plough to sell and two interested to buy in 1850 France.

Buyer A had dug dirt with a shovel,saved money, bought a small farm, was thrifty, good balance sheet. He wanted the plough to drain his land and increase  productivity.

Buyer B also wished the machne so that he could avoid much digging and leapfrog to a plough without a plan for its use.

Obviously if  one was a lender one would choose Buyer A. But Buyer B got the plough. 

What happened?

An election had occurred where the people wanted government to intervene. Another agency with their payroll and sloth was created.

Sounds like now?

Written in 1850 in France.