We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
I know how dangerous I am when I make pronouncements without examining my own motives. Do I fear poisonous ideas being left out on the buffet for anyone to take? A bit. There should at least be a sign that says, “Some people think this is poison.” But I object more strongly when the poison is being actively loaded onto people’s plates. I tend to intervene.
That comes awfully close to the center of my religious, social, and political arguments. Do you want a particular answer to be true? Then be most suspicious of that. Or, working in reverse, is there an answer you resist? Find out why.
How do you cut medical costs without tort reform? asks Zoller at Pajamas. Around here, OBs pay $150-200,000/year in malpractice insurance. In medicine these days, the rule is CYA rather than applying considered judgement. Thus a $2000 MRI for anybody with a bad headache or a dizzy spell.
...the destruction of trillions of dollars in wealth that we have witnessed over the last six months is unique in modern history. It isn't just the bursting of a bubble like the dot com collapse of 2000. It is a sort of neutron bomb effect, in which the physical means of production--buildings, fields, factories--are still standing, but the living heart of the economy, confidence in the future, has been wounded if not killed. I don't think that confidence (or, as Bill says, trust) will return any time soon.
Photo: Jefferson, at a rainy and foggy Quai d'Orsay, taken by our friend Nathan yesterday. He holds his plans for Monticello in his left hand.
AVI, good article"yet if you can't choose the harder road, then you're not ever getting home" I wouldn't be on this difficult path, if God didn't put so many obstacles in my way. I couldn't survive this journey if I didn't have Him pushing, and dragging me. I won't let Him carry me. Maybe someday I will. I'm not at that level yet.
From the offering A new and frightening number,DINO
There is a very important phrase used in the article that is essential to understanding what is being presented.
Here is what it is according to Investopedia dictionary of financial terms.
What Does Notional Value Mean?
The total value of a leveraged position's assets. This term is commonly used in the options, futures and currency markets because a very small amount of invested money can control a large position (and have a large consequence for the trader).
Investopedia explains Notional Value;
For example, one S&P 500 Index futures contract obligates the buyer to 250 units of the S&P 500 Index. If the index is trading at $1,000, then the single futures contract is similar to investing $250,000 (250 x $1,000). Therefore, $250,000 is the notional value underlying the futures contract
Now here is where an understanding that options contracts (at least in my day just a few years ago) expired at the rate of 98%. That means the investor simply lost the premium they paid to buy the option at whatever the date and strike price were, which is not the notional value mentioned but a vastly samaller number.
I am not attempting to gloss over the gigantic hole we have dug but it is important that there is a firm understanding of what is being referred to in these matters.
Certainly if all of the invested option contracts on the downside were to be exercised then we would be in a universe of hurt, but that is quite unlikely.
The Brady Bill was hardly Ronald Reagans pet project. It is also rather cheeky to call the man who brought an end to the Soviet Union, freed the Baltic states and essentially reordered the entire world "a punk"... He is already within that rare group of President considered truly great..
Perhaps you could choose another President to accurately aim your misguided slur at but your invective is humorous when applied to RWR.