Don\u2019t worry about the deficit, the debt ceiling\u00a0 or inflation. Just get people back to work. The resulting economic growth will solve everything. If you and I get it, why don’t our politicians? The Wall Street Journal <\/strong><\/a>writes:<\/p>\n The trouble today is that there’s no clear path to a resolution of Europe’s sovereign-debt crisis or a clean bill of health for the U.S. economy. In both cases, it could take months before investors have real visibility. In the meantime, stock pickers might want to brush up on their macro knowledge.<\/p>\n Value Line points out that on March 9, 2009 (the market’s low), the median of estimated price-earnings ratios of all stocks with earnings was 10.3.<\/strong> It’s now 13.6<\/strong>. Not cheap.<\/p>\n Time to be more in cash and mulling.<\/p>\n Dumb investment: building a house on the beach. <\/strong>And then waiting for the next hurricane.<\/span> Susan and I spent the weekend at our Columbia County house 127 miles north of New York City. We got a lot of rain. Many roads were washed out. Streams ran like Category 4 rapids. Some trees came down. We lost power for a few hours. Miraculously, our emergency generator kicked in, depriving us of a romantic evening. This morning, the skies are azure blue. Not a cloud. The temperature is crisp. Perfect tennis weather. What will the TV “meterologists” talk about now?<\/p>\n Relatives in Vermont are stranded by washed out bridges and washed-out roads. Vermont got hit really hard by flooding.<\/p>\n Life inside China.<\/strong><\/span> From today’s Wall Street Journal<\/strong><\/a> and Newsweek.<\/strong><\/a><\/p>\n The U.S. Tennis Open starts today.<\/span> <\/strong>Live matches will be\u00a0 on ESPN2, with repeats on the Tennis Channel. When we get to the weekend of September 10 and 11\u00a0 (semifinals and finals) it will move to CBS. There’s a timetable here<\/strong><\/a> and\u00a0 here.<\/strong><\/a> <\/strong>Weather and match length force changes in the schedule.<\/p>\n Novak Jokovic’s secret of being Number 1 revealed: Sitting in a pressurized egg. Today’s Wall Street Journal.<\/strong><\/a><\/p>\n Big people words.<\/strong><\/span> You need to use ‘Big People words,’ she was always reminding them.<\/p>\n She asked John what he had done over the weekend? ‘I went to visit my Nana.’<\/p>\n ‘No, you went to visit your GRANDMOTHER. Use ‘Big People’ words!’<\/p>\n She then asked Mitchell what he had done<\/p>\n ‘I took a ride on a choo-choo.’<\/p>\n She said. ‘No, you took a ride on a TRAIN. You must remember to use ‘Big People’ words.’<\/p>\n She then asked little Alex what he had done? ‘I read a book,’ he replied.<\/p>\n That’s WONDERFUL!’ the teacher said.<\/p>\n ‘What book did you read?’<\/p>\n Alex thought real hard about it, then puffed out his chest with great pride and said:<\/p>\n “Winnie the SHIT”<\/a><\/strong><\/p>\n Harry Newton who played tennis (indoors) and read a lot of learned forecasters — including John Mauldin (“Last week I finally stopped being wishy-washy (with my 50-50% chance of a recession call) and said the US would be in recession within 12 months<\/em>“) and the Economist’s How to Avoid a Double Dip<\/a> <\/strong> — and stuff the Europeans are doing wrong — like raising interest rates.\u00a0 Most depressing.<\/p>\n
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\nA group of kindergartners were trying very hard to become accustomed to the first grade. The biggest hurdle they faced was that the teacher insisted on NO baby talk!<\/p>\n![\"\"](\"..\/wp-content\/uploads\/2010\/08\/HarryNewtonNewShot2.jpg\" "\\"HarryNewtonNewShot\\"")
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