I had coffee with a friend recently. She's a Republican. I asked what she thought about McCain and she made a face. I asked her about Hillary and she made a worse face. Then she asked me about Obama. And before I answered, she said, "Actually, I'm impressed with him. I like him."
It's funny - I had this experience a few weeks ago, way back before Super Tuesday, and now, with Tuesday's upcoming primaries in Texas and Ohio, it seems so prescient. I read that some Texas Republicans were planning to vote for Obama. First, it's an open primary, so they can. Some are voting for Obama. Some are voting to Stop Hillary, figuring that McCain's got the nomination, so they might as well use their vote to stop her.
It's interesting how these things work. Look at Arnold Schwartzenegger - who'd have thought he'd become Governor of one of the most important states in the US? He got the opportunity because of a special election prompted by the recall of Governor Gray Davis. If he'd been through the regular primary process, he probably wouldn't have made the party cut. Instead, California now has a unique sort of GOP Governor, one who is married to a Kennedy, was a former body builder, and seems to defy party affiliation. Go figure.
Maybe in voting for Obama, Texas Republicans will deliver something just as intriguing.
Sunday, March 2, 2008
Tuesday, January 15, 2008
Cramer's Gold Nuggets
Jim's mad mouth said it, so it must be true: the economy's shrinking like a popped balloon, the fed doesn't care and the president is looking the other way. This morning Jim Cramer said it quite succinctly, "We're in a recession!" Just in case you needed any more emphasis, he added an exclamation point!
Well, according to the wisdom of Jim, who has studied previous bear markets like there's no tomorrow (which there might not be in the case of several overexposed regional banks), only two sectors are going to be perky this year: ag and gold.
And gold is certainly sparkling on the exchanges: today gold was trading on the New York Mercantile Exchange at $907.40 per ounce; yesterday it hit a record high of $914.10. By the time you read this, gold might be running in the Michigan primary on a platform of "shininess for all."
Cloned sheep-cow hybrids and soybean seeds with two heads aside, it's quite a quaint idea that gold is special, now ain't it? It sort of reminds me of our pioneer days. The US stock market is going to hell in a hand basket, but guess what? There's a pretty, shiny element that we'll pay handsomely for. It might make our eyes sparkle and our pockets jingle, but what is gold exactly?
Perhaps gold is the secret ingredient in Coke? Does it make dandruff shampoo? Does it serve juicy hamburgers and crispy fries? Can gold make our computers work faster? At that price, gold must surely make our vehicles purr along at 65 miles to the gallon, no?
No. Gold is still a mineral that comes from the earth. Unlike Alan Greenspan's reputation, it won't tarnish over time and it won't crumble. It's malleable, but dense (with a specific gravity of 19.3). And 1oz of gold could be stretched out to more than 50 miles. Cool eh? Sure, it's cool, but it doesn't do a whole lot. Gold sounds like a luxury I can't afford. I prefer investments that do stuff, companies that make things, organizations that provide services. Stuff I understand.
So Jim, thanks for the wise words, but I think I'm going to pass on the gold tip and go back to the grasslands of Monsanto to sit this recession out.
Well, according to the wisdom of Jim, who has studied previous bear markets like there's no tomorrow (which there might not be in the case of several overexposed regional banks), only two sectors are going to be perky this year: ag and gold.
And gold is certainly sparkling on the exchanges: today gold was trading on the New York Mercantile Exchange at $907.40 per ounce; yesterday it hit a record high of $914.10. By the time you read this, gold might be running in the Michigan primary on a platform of "shininess for all."
Cloned sheep-cow hybrids and soybean seeds with two heads aside, it's quite a quaint idea that gold is special, now ain't it? It sort of reminds me of our pioneer days. The US stock market is going to hell in a hand basket, but guess what? There's a pretty, shiny element that we'll pay handsomely for. It might make our eyes sparkle and our pockets jingle, but what is gold exactly?
Perhaps gold is the secret ingredient in Coke? Does it make dandruff shampoo? Does it serve juicy hamburgers and crispy fries? Can gold make our computers work faster? At that price, gold must surely make our vehicles purr along at 65 miles to the gallon, no?
No. Gold is still a mineral that comes from the earth. Unlike Alan Greenspan's reputation, it won't tarnish over time and it won't crumble. It's malleable, but dense (with a specific gravity of 19.3). And 1oz of gold could be stretched out to more than 50 miles. Cool eh? Sure, it's cool, but it doesn't do a whole lot. Gold sounds like a luxury I can't afford. I prefer investments that do stuff, companies that make things, organizations that provide services. Stuff I understand.
So Jim, thanks for the wise words, but I think I'm going to pass on the gold tip and go back to the grasslands of Monsanto to sit this recession out.
Saturday, January 12, 2008
My Encounter with Tom Waits
Last week I was standing chatting to a friend, whose two-year-old daughter was milling around her legs in an effort to prevent grown-up chatter, when just as we sailed past the one-minute mark in our conversation, I heard the most awful, discordant growling. It was pitched low and throaty, and my visceral instinct immediately told me that an animal was in pain. I looked around. I looked at my friend. I looked again.
She smiled. And looked down. Apparently the source of the agonizing sound was emanating from her daughter. "Is she all right?" I asked, thinking that her daughter was either about to vomit or need emergency treatment. "Oh yes," my friend proudly declared, "she likes to sing."
That was singing? Are you kidding? Seriously, dirty old drunks falling over and cursing in the gutter sound better than this two-year-old. I thought the child was in pain, and if she wasn't, I certainly was.
My friend added that she and her daughter just love to go to "mini music class with mommy and me." I think I was so stumped at this point I just managed to smile in a concerned way (concerned for the other class participants). Really, is there a nice way to point out that her daughter sounds like Tom Waits? Not that there's anything wrong with Tom Waits - but it's very disconcerting to hear his version of Old MacDonald coming out of the elfin body of a two-year-old. Just very wrong.
She smiled. And looked down. Apparently the source of the agonizing sound was emanating from her daughter. "Is she all right?" I asked, thinking that her daughter was either about to vomit or need emergency treatment. "Oh yes," my friend proudly declared, "she likes to sing."
That was singing? Are you kidding? Seriously, dirty old drunks falling over and cursing in the gutter sound better than this two-year-old. I thought the child was in pain, and if she wasn't, I certainly was.
My friend added that she and her daughter just love to go to "mini music class with mommy and me." I think I was so stumped at this point I just managed to smile in a concerned way (concerned for the other class participants). Really, is there a nice way to point out that her daughter sounds like Tom Waits? Not that there's anything wrong with Tom Waits - but it's very disconcerting to hear his version of Old MacDonald coming out of the elfin body of a two-year-old. Just very wrong.
This Season's Color: Recession Red
This week has not been good for me, especially yesterday, when two of my recent stock purchases (MCD and AMX) made financial headlines . . . for all the wrong reasons. Really, it's a bad day on Wall Street when the Golden Arches and the Gold card are well, not the gold standard.
Of course, it's no surprise that the stock market had the worst kickoff to the year since 1932. The credit crunch came for a visit in August and hasn't left town since, economic growth has been spattering along, and lately the dollar's been doing as badly as Bill Richardson in the primaries.
2008 sure is looking shaky like a Polaroid picture. From all accounts, well relying exclusively on the lipstick index (sales are poised to rise by 38% in 2008), this year is not going to be golden. If I were going to pick a color for this season's color, it would have to be Recession Red.
Of course, it's no surprise that the stock market had the worst kickoff to the year since 1932. The credit crunch came for a visit in August and hasn't left town since, economic growth has been spattering along, and lately the dollar's been doing as badly as Bill Richardson in the primaries.
2008 sure is looking shaky like a Polaroid picture. From all accounts, well relying exclusively on the lipstick index (sales are poised to rise by 38% in 2008), this year is not going to be golden. If I were going to pick a color for this season's color, it would have to be Recession Red.
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