“Emergencies” are great for politicians. If we don’t do “this”, we will be obliterated. From Korea to Vietnam, from Iraq to Afghanistan. “Emergencies,” “bad political logic,” horrible implementations, and countless lives and treasure lost. Yesterday John Kerry, our secretary of state talked of Syria and how they’d crossed a line (one we’d conveniently made up) by gassing their own people. As though there’s difference between gassing and carpet bombing, or snipering and mortaring. The result is the same — dead Syrians.
Do we need to meddle in Syria’s civil war? No. Will we? Probably. Our “military-industrial complex” (remember Eisenhower?) seems to need regular wars. It’s very depressing.
We were doing fine until Mr. Kerry talked about the “line” and down we went. (I don’t have a chart of just one day.)
I look at analyst recommendations and see stocks with the P/Es of 18-20 and more. Not exactly cheap. Should we wait for a greater pullback? It seems prudent.
For now, play with the kids. Visit a national park for what remains of the summer. Watch the US Tennis Open on TV — ESPN2, The Tennis Channel and CBS.
Gold is thriving (overstatement) in this squirrely environment. I suspect it could go higher.
Tesla is the darling of momentum stocks. The company keeps surprising with positive news. Am I willing to play this at current nose-bleed prices? No. Did I ever think that this specialty car company would do so well? No? Would I buy a Tesla car? No.
Drugs and bicycles.
“I think it is just terrible and disgusting how everyone has treated Lance Armstrong, especially after what he achieved, winning seven Tour de France races while on drugs.
When I was on drugs, I couldn’t even find my bike.” – Willie Nelson
Only three more years to the next big election. Thoughts:
+ If God wanted us to vote, he would have given us candidates. — Jay Leno
+ The problem with political jokes is they get elected. — Henry Cate, VII
+ We hang the petty thieves and appoint the great ones to public office. — Aesop
+ Politicians are the same all over. They promise to build a bridge even where there is no river. — Nikita Khrushchev
+ When I was a boy I was told that anybody could become President; I’m beginning to believe it. — Clarence Darrow
+ Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. — John Quinton
+ Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. — Oscar Ameringer
+ I offer my opponents a bargain: if they will stop telling lies about us, I will stop telling the truth about them. — Adlai Stevenson, campaign speech, 1952
+ A politician is a fellow who will lay down your life for his country. — Tex Guinan
+ Instead of giving a politician the keys to the city, it might be better to change the locks. — Doug Larson
+ There ought to be one day — just one — when there is open season on senators. — Will Rogers
Harry Newton who just tore something inside the rotator cuff of his left shoulder. And this just as the new cataract-repaired eye was beginning to work. I am optimistic that the poor body is not falling apart. But the signs of decay are there. I am proving a one-man boom to the medical industry. Now comes the MRI.
I know I mentioned this piece yesterday, but it really is engrossing: Vanity Fair on Microsoft’s Lost Decade. Click here.
Rule: Always sell the stock when the owner leaves or dies.
The U.S. needs to kick some butt in Syria and PRONTO. Invade, Mr. President, invade. ANd stay there till the job is finished, even if it take 30 years.
Harry, can’t believe you’re not familiar with the threatened Australia boycott. Google it. An australian baseball player was shot jogging through a small town in Oklahoma and now Aussie officials don’t want their people coming here. IT was in all the papers. Maybe you need to get off the Internet and read an actual newspaper, or watch some CNN instead of ESPN2.
Harry,
Why have you remained silent on Australia’s threatened boycott of the U.S. over a single murder in Oklahoma? What kind of cowardly country would threaten to make a (small) dent in the U.S. tourist trade over a single rogue incident like this? It is your homeland, I figured you’d have something to say. Are you going to support the Aussie boycott? Or, do the smart thing and condemn it? I’ll bet you’re glad you’re out of such a place that would try to ban citizens from seeing Disney World over some dust up in Okie.
Honestly, I’ve never heard of this proposed boycott. I’ll look into it.
“Rule: Always sell the stock when the owner leaves or dies.”
Would you apply this same rule to Berkshire?
Depends on Charlie Munger.
Aha! Rules are to be followed except when they’re to be ignored. I’m confused.
On the always growing role of government, read some of Robert Higgs of The Independent Institute’s books like “Crisis and Leviathan: Critical Episodes in the Growth of American Government”. I frequently don’t agree with him, but he sure makes your point. Government loves growth. In fact, personally I do think there are times we should step in: watching slaughter we can stop is selfish and cruel, plus power hates a vacuum.
But, Sir, there is no way to “win” in Syria. I once contributed to the script of a movie called “War Games.” The final line of the movie is, “The only winning move is not to play”. I am not an isolationist, but there is no “right side” in Syria.