momentary lack of charity verging on Schadenfreude

In brief:* I find it hard to sympathize with the stock brokers depicted in so many recent media images, head in hands, pained expressions on their faces, phone headsets on, reacting to stock prices falling. I think it's because there's something about them that looks surprised.

If you play roulette, you can lose. It's part of the game.

* Recovering from Pittsburgh. Slowly. Tired. Teaching. Tired. Reading papers. And tired.

a grass-roots understanding of economic fundamentals

I would never be confused with an expert in finance. For one thing, on my campus, those people make waaaaaaay more money than I do. But I also have a very simple-minded conception of economic activity that has almost no relation to what goes on in The World Of FinanceTM.

Take this line from the Reuters story about the financial bailout summit held this weekend:

"The weekend produced the hoped-for result, a broad assault on the main problem, undercapitalized banks," said ING Bank economist Tim Condon.

See, I think the main problem is something different, not related to banks.

When John McCain was caught saying he thought the "fundamentals" of our economy are strong, and then later saying the economy was at risk, he had the story partly right, but as usual, didn't tell the truth about it. Mere hours after he said the economy was sound, the finance and credit universe was sucked into a black hole, and so McCain looked foolish. To cover up, his campaign started to back-pedal and say he meant that the basis of economic growth - labor, ingenuity, commitment, etc. - was sound. Obviously, that wasn't sincere. But more to the point, it was also false.

The economy is not what the Dow Industrials or the S&P 500 measure. They measure a large-scale high-stakes poker game that the vast majority of us will never, ever win.

The people with a stake in the poker game are trying to make large sums of money by tricking the system (that's what poker's all about), so they do things like buy companies, sell their assets, and hope to come out with a profit. They don't care about productivity or people eating. They sell loans to people in order to make money off of those people's productive labor. They don't care whether that labor really produces anything; they just want the profit from it. They're not responsible.

So, here in the US, this game has resulted in the systematic de-skilling of millions of people, the outsourcing of millions of jobs. Now that selling stuff to one another on credit is becoming a less sustainable form of employment, we all may have to start actually doing things, making things, growing things, and so forth. And we don't know how.

If, as no more socialist a thinker as Adam Smith theorized, human labor is the source of economic wealth, a workforce that has un-learned how to produce anything actually consumable simply can't create any wealth. If that's the "fundamentals" of an economy, then all the cash anybody wants to give to banks in the 1st world won't make any difference, because we can't make anything.

irritating

I bought an iPod shuffle last December, to carry with me on my walk to campus and home (it's 3.5 miles round-trip). I figured it would make the time pass pleasantly, would give me some needed motivational/meditative tunes, and that I could play demos of songs we're writing during the walk, to see if any ideas came up.

After a couple months of smooth usage, it was time to change out songs and recharge the iPod, so I plugged in its little USB connector, set the iPod onto the plug on the other end, and it flashed its little amber light to tell me it was being connected... and then didn't connect. I tried again, and again, and again.

I looked up troubleshooting on the Mac site, which told me quite helpfully that if there are problems connecting the iPod to the computer, you may need to reset your iPod, and to do that, just connect it to the computer... I'm not kidding. Would that I were kidding.

I gave up. A couple months later, just for kicks, I plugged it in again, and it worked. I recharged it, changed tunes on the unit, and it was fine for two more months. Then it stopped connecting again.

Then it stopped working. My loveliest told me to send it to Apple and get a new unit (which was apparently how they were handling the problem - well, that and ignoring it). But it was past its warranty date by then. And then, of course, it connected to the computer again.

Tonight it failed to connect again.

I suppose I'll just have to learn harmonica.

business as usual for Dow

Dow chemical got out of a lawsuit today that accused them of selling a pesticide that they knew caused sterility. They knew of the problems since the 1950s, continued to sell the pesticide in the US until it was banned in 1979, and continued selling it overseas until the mid 1980s.

The suit charged Dow with genocide and crimes against humanity, and the federal court ruling basically says the case doesn't fit the description of those crimes. It does not say what Dow did was acceptable, just that it wasn't deliberately genocidal. Dow's attorney claimed the ruling meant that Dow "is completely blameless, both factually and legally." He did not add "... of a deliberate policy of genocide."

All of which adds up to a new corporate motto:

Dow Chemical: Not As Bad As Mengele

a hand - up?

Partly found art, partly unaccountable inspiration.

California, here we come!

I found out about a year ago that California's corporate law has some interesting features, for instance, that if a California non-profit corporation does something amiss, like failing to file taxes for several years, the State can suspend, or even revoke, that corporation's Articles of Incorporation. This effectively forces the corporation to re-charter itself under a new name, and if the State, which has no resources to dedicate to the task, somehow discovers the ruse, why, that corporation is subject to the ultimate penalty - you guessed it, not being permitted to contract.

So I wasn't that surprised when I read that two unaccredited colleges are moving to California from Idaho, to open doors along with possibly dozens more, since California now has no regulatory agency to oversee businesses operating as colleges.

[You know what's coming, don't you?]

So, we're pleased to announce that, as of August 20, Doc Nagel, Inc. U. has re-opened in California. And unlike Breyer State University and Canyon College, Doc Nagel, Inc. U. is accredited, just not by the usual agency. Plus, Doc Nagel, Inc. U. is the only entirely on-line college that offers undergraduate and graduate degrees in fields from A to Z, with no coursework, no exams, no needless paperwork, and all for no tuition or fees!