President’s Day Thoughts
It is pouring rain this morning. I’m taking the day off. Outside I can see goldfish swimming at the top of our little pond, waiting for their daily scattering of yummy fish food.
Fish probably don’t notice when it’s raining. I do notice. I think about how wet I will get feeding them. I weigh the pros and cons of action. I get wet. My fish are happy again, and soon enough I am dry again.
After breakfast I am back in my recliner, basking in the freedom of the President’s day holiday. A little more time to read the paper, do some chores around the house.
I read the NY Times business section. Paul Krugman points out that by now everyone knows the sad tale of Bernard Madoff’s duped investors. They looked at their statements and thought they were rich. Then, one day, they discoved to their horror that their supposed wealth was a figment of someone else’s imagination.
The idea that anyone can pick stocks and beat the market seems suddenly kind of silly. Bernie Madoff was able to deliver steady returns, but we know now how he did it.
It’s a little like my fish in the rain, they think nothing has changed, but their next meal depends on my willingness to dodge raindrops they seemingly don’t see.
A letter to the editor proposes a quick solution to our current crisis, “Why not give every taxpaying citizen 100 grand and tell them to spend it anyway they like?”
I can get behind that. But how about one more little earmark - give an extra grand to anyone who is willing to spend it on legal services. Hey - I have fish that need to be fed.
Happy President’s Day!
Tags: Madoff
